China firm buys stake in SeaWorld, sending shares up

March 26, 2017 at 4:19AM
FILE - This Jan. 31, 2017 file photo shows the entrance to Sea World in Orlando, Fla. Shares of SeaWorld, which have been cut in half since coming under scrutiny over the killer whales it holds in captivity, are up 12 percent before the opening bell after a big investment from China. SeaWorld announced Friday, March 24, 2017 that Zhonghong Zhuoye Group Co., real estate holding company, has acquired a 21 percent stake from Blackstone Group at $23 per share. (AP Photo/John Raoux)
A Chinese firm has bought a 21 percent stake in Sea World, sending stock prices up 5 percent. (The Minnesota Star Tribune)

Big splash: SeaWorld Entertainment shares rose 5 percent to $18.13 Friday after the company said China's Zhonghong Zhuoye Group bought a 21 percent stake in Sea World. It said the Chinese firm paid $23 a share, and an executive will join SeaWorld's board.

Diamond deal: Dominion Diamond climbed 22 percent to $12.07 Monday after Washington Cos. offered to buy the diamond mining company for $13.50 per share. Dominion Diamond questioned the timing of the offer. Its shares closed Friday at $12.72.

Watch stopped: Watchmaker Movado Group fell 3.2 percent to $22.85 Monday after it announced weak earnings and said the market for watches remains tough and that sales are continuing to shift to the web. Movado shares closed Friday at $23.40.

Didn't do it: Shoe and athletic apparel giant Nike dropped 6.1 percent to $54.48 Wednesday as Wall Street wasn't impressed with its third-quarter results or its forecasts. Shares closed Friday at $56.36.

Tears for Sears: Sears shares dropped 11.4 percent to $8.06 Wednesday after the retailer said in a regulatory filing that there is "substantial doubt" it will be able to remain in business as the company continues to lose billions a year. The stock finished the week at $8.50.

Retail rebound: PVH, which owns the Calvin Klein and Tommy Hilfiger brands, jumped 9.1 percent to $99.11 Thursday after its earnings topped estimates. Sales for the Hilfiger brand grew in the latest quarter. The stock closed the week at $100.94.

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