Bloomberg News

Diamond Foods Soars as BlackRock Discloses 7.9% Stake

February 11, 2013

(Corrects first paragraph to show BlackRock disclosed current stake.)

Feb. 11 (Bloomberg) -- Diamond Foods Inc (DMND:US). gained the most in more than a year after BlackRock Inc. (BLK:US) disclosed a 7.9 percent stake in the producer of Diamond walnuts and Kettle Chips.

The shares advanced 16 percent to $16.66 at 3:53 p.m. in New York for the biggest intraday jump since December 2011.

BlackRock, the world’s biggest money manager, made the disclosure in a filing. The San Francisco-based food company in November restated earnings for its fiscal 2010 and 2011 years after finding that certain payments to growers were booked to the wrong periods.

To contact the reporter on this story: Niamh Ring in New York at nring@bloomberg.net

To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net


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Companies Mentioned

  • DMND
    (Diamond Foods Inc)
    • $28.75 USD
    • -0.35
    • -1.22%
  • BLK
    (BlackRock Inc)
    • $315.88 USD
    • -3.28
    • -1.04%
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