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Stock Market & Financial Investment News

News Breaks
October 12, 2012
10:02 EDTATNY, RLD, XNPT, STI, WDC, TYC, STX, BTU, JIVE, DLTR, CNX, AVT, ANROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alpha Natural (ANR) downgraded to Neutral from Buy at Nomura... Avnet (AVT) downgraded to Market Perform from Outperform at Raymond James... CONSOL Energy (CNX) downgraded to Sell from Outperform at CLSA... Dollar Tree (DLTR) downgraded to Hold from Buy at Jefferies... Dollar Tree (DLTR) downgraded to Neutral from Overweight at Piper Jaffray... Jive Software (JIVE) downgraded to Market Perform from Outperform at BMO Capital... Peabody Energy (BTU) downgraded to Reduce from Neutral at Nomura... Seagate (STX) downgraded to Sell from Buy at Citigroup... SunTrust (STI) downgraded to Neutral from Buy at BTIG... Tyco (TYC) downgraded to In-Line from Outperform at Imperial Capital... Western Digital (WDC) downgraded to Sell from Buy at Citigroup... XenoPort (XNPT) downgraded to Neutral from Overweight at Piper Jaffray... RealD (RLD) downgraded to Neutral from Overweight at JPMorgan... API Technologies (ATNY) downgraded to Hold from Buy at C.K. Cooper.
News For ANR;AVT;CNX;DLTR;JIVE;BTU;STX;TYC;WDC;STI;XNPT;RLD;ATNY From The Last 14 Days
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September 10, 2014
10:08 EDTDLTRFamily Dollar confirms Dollar General unsolicited tender offer
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09:27 EDTDLTRDollar General tender for Family Dollar a logical next step, says Wells Fargo
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08:02 EDTSTXSeagate says has shipped 10 millionth solid state hybrid hard drive
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06:19 EDTDLTRDollar General commences tender offer to acquire Family Dollar for $80/share
Dollar General (DG) announced that it has commenced a tender offer to acquire all outstanding shares of Family Dollar Stores (FDO) for $80.00 per share in cash. The offer is scheduled to expire at 5:00 p.m., New York City time, on October 8, 2014, unless the offer is extended. The full terms, conditions and other details of the tender offer are set forth in the offering documents that Dollar General will file today with the SEC. Dollar General also will promptly file for clearance under the Hart-Scott-Rodino Act, which will allow the company to begin the antitrust approval process with the FTC. Dollar General’s all-cash offer of $80.00 per share provides Family Dollar shareholders with a "superior valuation" to the $74.50 per share cash / stock offer announced by Dollar Tree (DLTR) on July 28, 2014. Dollar General’s offer provides Family Dollar’s shareholders with approximately $640M of additional aggregate value over Dollar Tree’s offer. As part of a definitive merger agreement with Family Dollar, Dollar General would be willing to agree to divest up to 1,500 stores if required by the FTC and to pay Family Dollar a $500M reverse break-up fee if the transaction did not close for reasons related to antitrust approvals.
September 9, 2014
11:22 EDTSTISunTrust sees modest decline potential in cyclical costs, other expenses
Says committed to maintaining strong expense discipline. Says that there is potential for modest declines in cyclical costs and other credit-related expenses. Believes company's size is an advantage. In terms of the company's consumer banking and private wealth management area, it looks to grow wealth management, optimize the delivery model, increase consumer lending production and continue to improve retail productivity. Says that there is further potential in improving the company's overall return profile and capital return to shareholders. Comments take from the company's slide presentation at the Barclays 2014 Global Financial Services Conference.
08:40 EDTXNPTXenoPort, NIAAA to conduct clincial trial of Horizant ER tablets
XenoPort and the National Institute on Alcohol Abuse and Alcoholism have entered into an agreement to conduct a clinical trial of HORIZANT Extended-Release Tablets as a potential treatment for alcohol use disorder. Under the terms of the agreement, XenoPort will supply clinical trial material and the NIAAA will conduct and pay all other expenses associated with the proposed clinical trial of HORIZANT. XenoPort will have access to study results generated under the proposed clinical trial to support potential regulatory filings for HORIZANT. The study is planned to be a randomized, double-blind, placebo-controlled clinical trial of the safety and efficacy of HORIZANT in patients who have AUD but are abstinent at treatment initiation. The study is expected to have a treatment period of six months and to enroll approximately 350 patients beginning in the first half of 2015. XenoPort and the NIAAA are planning to meet with the U.S. Food and Drug Administration Division of Anesthesia, Analgesia and Addiction Products in the fourth quarter of 2014 to discuss the trial design and the possibility of utilizing the results of this trial as the basis for a potential supplemental new drug application submission for HORIZANT for the maintenance of abstinence from heavy drinking of alcohol in patients with AUD.
08:33 EDTDLTRDollar Tree, Family Dollar receive second request from FTC under HSR Act
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September 8, 2014
14:30 EDTSTXSeagate volatility low into strategic update
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07:24 EDTSTIBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
September 5, 2014
17:18 EDTRLDStarboard Value raises stake in RealD to 9.1% from 7.9%
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16:45 EDTDLTRMarket ends week little changed after mixed economic data
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11:28 EDTCNXCONSOL management to meet with FBR Capital
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08:34 EDTDLTRDollar Tree to divest as many stores as required for antitrust approval
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08:33 EDTDLTRFamily Dollar reaffirms support of transaction with Dollar Tree
08:32 EDTDLTRDollar Tree commits to divest as many stores as required for antitrust approval
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08:31 EDTDLTRFamily Dollar rejects revised Dollar General offer due to antitrust issues
Family Dollar Stores (FDO) that its Board of Directors has unanimously rejected the revised, non-binding proposal made by Dollar General Corporation (DG) on September 2 on the basis of antitrust regulatory considerations. Family Dollar’s merger agreement with Dollar Tree (DLTR) contains a customary provision that permits Family Dollar to enter into discussions and share information with any competing bidder, but only if the Board is able to determine that failure to do so would be inconsistent with its fiduciary duties and that the unsolicited, written proposal from the competing bidder would be reasonably expected to lead to a proposal that is not only financially superior, but also “reasonably likely to be completed on the terms proposed.” Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s revised proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s revised proposal and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
06:27 EDTDLTRNew Dollar General offer might not woo Family Dollar, Reuters says
Dollar General's (DG) improved bid to purchase Family Dollar (FDO) for $9.1B might not be able to reduce its smaller competitors worries that U.S. antitrust regulators will hinder the agreement from transpiring, according to Reuters, citing two sources familiar with the matter. Family Dollar is already in the throes of an agreement to sell itself for $8.5B to Dollar Tree (DLTR). Reference Link
September 3, 2014
14:58 EDTAVTAvnet management to meet with UBS
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11:33 EDTTYCTyco to host special shareholder meeting
Special shareholder meeting to be held on September 9 at 9 am.
08:02 EDTATNYAPI Technologies receives $3.6M product order for commercial aviation electronic
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