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Stock Market & Financial Investment News

News Breaks
November 14, 2013
18:03 EDTJCP, PG, CP, APD, MATX, GGPPershing Square provides quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: Air Products (APD). DECREASED STAKES: Proctor & Gamble (PG), General Growth Properties (GGP), Canadian Pacific (CP). LIQUIDATED STAKES: J.C. Penney (JCP), Matson (MATX).
News For APD;PG;GGP;CP;JCP;MATX From The Last 14 Days
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March 25, 2015
17:28 EDTPGFutureFuel down 8% after 'significant adverse impact' of P&G pact termination
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17:22 EDTPGFutureFuel to see adverse impact from early termination of P&G purchase pact
On March 19, FutureFuel (FF) received notice from The Procter & Gamble Company (PG) exercising its right of early termination and advising the company of its intent to terminate, effective December 31, the purchase agreement entered into as of April 1, 2008 between The Procter & Gamble Manufacturing Company, The Procter & Gamble Distributing LLC and Procter & Gamble International Operations SA, as buyer, and FutureFuel, as seller, as amended. P&G indicated that its decision to terminate resulted from its need for flexibility to address declining market trends in the dry laundry additives marketplace. P&G exercised its right to terminate the purchase agreement with at least 270 days prior written notice pursuant to a contractual provision allowing for early termination in the event P&G’s expected annual purchases fell below a certain threshold. The purchase agreement will remain in full force and effect during the notification period, during which time the parties will have the opportunity to negotiate a mutually acceptable alternative. FutureFuel plans to further discuss options for continuing its business relationship with P&G, but there can be no assurance that such efforts will be successful. If no such alternative is reached, the purchase agreement will terminate effective December 31, one year prior to the stated termination date of the purchase agreement. FutureFuel’s revenues related to the purchase agreement were reported as $43.93M for FY14. The termination of the purchase agreement is expected to have a significant adverse impact on the company’s revenue, net income and cash flow beginning in FY16. FutureFuel will not incur any early termination penalties as a result of the termination of the purchase agreement.
05:57 EDTPGStocks with implied volatility movement; VZ PG
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March 24, 2015
06:34 EDTPGKimberly-Clark upgraded to Outperform from Market Perform at Wells Fargo
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March 23, 2015
10:08 EDTCPHigh option volume stocks
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March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
08:06 EDTGGPGeneral Growth price target raised to $35 from $28 at Oppenheimer
Oppenheimer increased its price target on General Growth as the firm expects the company's FFO to rise by 10% this year and 13% in 2016. The firm thinks the market underestimates the company's near-term FFO growth and the value of its assets. It keeps an Outperform rating on the shares.
March 19, 2015
14:26 EDTAPDAir Products raises quarterly dividend to 81c from 77c per share
The dividend is payable on May 11 to shareholders of record at the close of business on April 1. This marks the 33rd consecutive year that Air Products has increased its dividend payment.
08:03 EDTPGInter Parfums unit to acquire Procter & Gamble's Rochas brand for $108M
Inter Parfums (IPAR) announced that its majority owned Paris-based subsidiary, Interparfums S.A. has entered into an agreement with The Procter & Gamble Company (PG) to acquire the Rochas brand. This transaction will cover all brand names and registered trademarks for Rochas, mainly for class 3 cosmetics and class 25 fashion. This acquisition will be payable in cash on the closing date for $108M and financed entirely through a medium term loan. This transaction is expected to be completed within the first half of 2015, subject to customary closing conditions.
07:17 EDTMATXStephens to hold a conference
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March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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March 17, 2015
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
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08:15 EDTGGPMacerich adopts classified board structure, stockholder rights plan
Macerich (MAC) announced that its board unanimously approved two governance changes to ensure that all stockholders have the opportunity to realize the long-term value of their investment in the company and are protected from coercive takeover attempts. As permitted by the Maryland General Corporation Law, the board has adopted a classified board structure pursuant to which directors will be assigned to one of three classes, each serving three-year terms. In order to emphasize that the classified board is solely intended to protect stockholder value and not intended to be a permanent feature of the company's corporate governance, the company has committed to review the continued need for the classified board structure in 2016. In addition, the board has adopted a limited duration stockholder rights plan, effective March 17, and authorized a dividend distribution of one preferred share purchase right on each outstanding share of Macerich's common stock. If not redeemed or otherwise exchanged, the Rights Plan is limited in duration and will expire on the date of the company's 2016 Annual Meeting of Stockholders. Macerich's Board of Directors elected to implement these governance changes in response to the unsolicited takeover proposal announced by Simon Property Group (SPG) on March 9. In its proposal, Simon Property Group announced that it has entered into an agreement to sell selected Macerich assets to General Growth Properties (GGP). In addition, on March 12, James Barkley, General Counsel of Simon Property, sent a letter to Macerich indicating that Simon was contemplating the nomination of five dissident candidates to stand for election at Macerich's 2015 Annual Meeting of Stockholders. The Macerich Board believes this partnership raises serious antitrust concerns as it is a concerted effort by the two largest companies in the industry to acquire the number three company. As a result, the Board believes it is vital that it take proactive measures to protect stockholder value and prevent the accumulation of stock by any group that might seek to force the sale of the company.
08:12 EDTGGPMacerich rejects $91 per share proposal from Simon Property Group
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07:53 EDTMATXMatson American Eagle Jack Henry named triple play at Oppenheimer
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06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
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March 16, 2015
10:46 EDTPGProcter & Gamble weighs deal for beauty brands, Bloomberg reports
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10:40 EDTPGProcter & Gamble weighs single deal for beauty brands, Bloomberg says
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09:01 EDTCPCanadian Pacific renews share repurchase program
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06:16 EDTPGWal-Mart to sell Tide rival Persil in stores, WSJ reports
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