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News Breaks | | | | December 11, 2012 | | 16:24 EDT |  | FDO, DG, CASY, WBMD, TNS, LINTA, TRIP, S, CLWR, AIG | On The Fly: Closing Wrap
Stocks on Wall Street finished up on the day, though off their highs after a modest sell-off across the averages in the last hour of trading. House Speaker John Boehner spoke at midday and his comments did little to move the averages. A comment from Senate Majority Leader Harry Reid later in the afternoon, suggesting a solution to the fiscal cliff would not be reached before Christmas, dented the market a bit more than Boehner's press conference did, but not much... ECONOMIC EVENTS: In the U.S., the NFIB Small Business Optimism Index dropped 5.6 points to 87.5 in November, which was a steeper fall than forecast. The U.S. trade deficit widened to $42.2B in October from $41.5B a month earlier. Wholesale inventories increased 0.6% in October, versus expectations for an increase of 0.4%. The Job Openings & Labor Turnover report showed job openings rose 128K in October to 3.675M... COMPANY NEWS: The Treasury announced last night it was selling its remaining 234.2M share stake in American International Group (AIG), sending AIG up $1.90, or 5.70%, to $35.26 in today's session... CNBC's David Faber reported Sprint (S) is in active talks to acquire the 49% stake in Clearwire (CLWR) that it does not already own. Shares of Clearwire rose 28c, or 11.67%, to $2.68 following the report... Tripadvisor (TRIP) rose $2.52, or 6.56%, to $40.91 after Liberty Interactive (LINTA) acquired voting control of the travel site by purchasing 4.8M shares from media mogul Barry Diller for $62.50 per share. Following the transaction, Liberty owns 22% of TripAdvisor's equity but controls 57% of the voting power in the company... MAJOR MOVERS: Among the notable gainers were TNS (TNS), up $6.20, or 42.58%, to $20.76 after agreeing to be acquired by Siris Capital for $21 per share, and WebMD (WBMD), up $1.61, or 11.62%, to $15.46 after the company announced actions to cut operating expenses including workforce reductions. Also higher were shares of Casey's General Stores (CASY), up $2.66, or 5.48%, to $51.20 after the company reported in-line earnings and said it was evaluating strategic alternatives to maximize shareholder value, including the potential for restructuring as a REIT. Among the noteworthy losers was Dollar General (DG), down $3.63, or 7.79%, to $42.94 after its earnings report and guidance. Also lower were shares of peer Family Dollar (FDO) down $5.90, or 8.36%, to $64.68 following a downgrade to Neutral at JPMorgan and on read through from Dollar General's report... INDICES: The Dow was up 78.56, or 0.60%, to 13,248.44; the Nasdaq was up 35.34, or 1.18%, to 3,022.30; and the S&P 500 was up 9.29, or 0.65%, to 1,427.84. | |
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News For AIG;CLWR;S;TRIP;LINTA;TNS;WBMD;CASY;DG;FDO From The Last 14 Days Check below for free stories on AIG;CLWR;S;TRIP;LINTA;TNS;WBMD;CASY;DG;FDO the last two weeks. |
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| May 22, 2013 | | 09:09 EDT |  | CLWR, S | Clearwire board recommends holders vote for increased offer from Sprint
Clearwire (CLWR) announced that its Special Committee of the board have each approved the revised offer from Sprint (S) to acquire the approximately 50% stake in the company it does not currently own for $3.40 per share. The Special Committee of the board determined that the revised offer, when compared with other potential transactions reasonably available to the company at this time, is the most favorable potential transaction to the company's unaffiliated stockholders and that the terms of the revised offer are advisable, fair to and in the best interest of such stockholders. The Clearwire board recommends that stockholders vote their shares FOR all of the proposals relating to the transaction with Sprint by returning the WHITE proxy card with a "FOR" vote for all proposals. | | | 07:42 EDT |  | LINTA | Barclays to host a conference
 Subscribe for More Information | | | May 21, 2013 | | 13:43 EDT | | CLWR, S | Clearwire reschedules special shareholder meeting
Subscribe for More Information | | | 13:36 EDT | | CLWR, S | Clearwire holder Crest Financial protest company's delay of vote on merger
Crest Financial Limited, the largest of the independent minority stockholders of Clearwire Corporation (CLWR), protested the decision of the Clearwire Board of Directors to adjourn the Clearwire special meeting to consider Sprint's (S) increased offer price of $3.40 per share. Crest said that it has sent a letter to the Clearwire Board of Directors urging them to resist Sprint's new offer so that Clearwire can pursue direct offers through a competitive process once the bidding war over Sprint is concluded. Crest's letter to the Clearwire Board said, "Sprint's new offer for Clearwire still significantly undervalues Clearwire and its assets and provides no protections to minority stockholders." | | | 12:11 EDT |  | CLWR | Follow-up: Clearwire upgraded to Market Perform from Sell at Janco
Subscribe for More Information | | | 12:08 EDT | | CLWR | Clearwire upgraded to Market Perform from Sell at Janco
| | | 10:24 EDT |  | CLWR | Sprint, Clearwire deal likely gets done, says Wells Fargo
Wells Fargo believes Sprint's (S) raised offer for Clearwire (CLWR) is likely enough to get the deal approved by shareholders. Wells has an Outperform rating on Sprint and Market Perform rating on Clearwire. | | | 09:48 EDT | | CLWR | Clearwire resumes trading, up 3.7% to $3.38
Subscribe for More Information | | | 09:32 EDT | | S, CLWR | Clearwire to resume trading at 9:45 am ET
Subscribe for More Information | | | 09:23 EDT | | S, CLWR | Clearwire receives increase offer from Sprint
Clearwire (CLWR) confirmed that it has received a revised offer from Sprint (S) to acquire the approximately 50% stake in the company it does not currently own for $3.40 per share. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Special Committee of the Clearwire board will review this revised proposal from Sprint. | | | | 09:22 EDT | | S, CLWR | Clearwire receives increase offer from Sprint
Subscribe for More Information | | | 09:03 EDT | | S, CLWR | Sprint increases offer for Clearwire to $3.40 per share from $2.97
Subscribe for More Information | | | 09:01 EDT | | CLWR, S | Sprint increases offer for Clearwire to $3.40 per share
Subscribe for More Information | | | 08:57 EDT | | CLWR, S | Sprint to raise bid for Clearwire above $2.97 prior offer, DJ says
Subscribe for More Information | | | 08:55 EDT | | CLWR | Clearwire trading halted, pending news
Subscribe for More Information | | | 08:44 EDT |  | AIG | Regulators to soon vote on non-banks, WSJ reports
Subscribe for More Information | | | 06:03 EDT | | S, CLWR | Clearwire to postpone today's vote on Sprint deal, NY Post reports
Clearwire (CLWR) will postpone today's shareholder vote on Sprint's (S) $2.97 per share takeover offer, New York Post reports. Reference Link | | | 05:40 EDT | | S | Softbank confirms waiver, expects Sprint deal to close in six weeks
Subscribe for More Information | | | 05:31 EDT | | S | DISH, Sprint to engage in talks
Subscribe for More Information | | | 05:23 EDT | | S | Sprint provides transaction update
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