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Stock Market & Financial Investment News

News Breaks
January 1, 2013
14:08 EDTSHLD, BBYTwo Best Buy directors resign from board
Two Best Buy (BBY) directors have resigned from the board of the consumer electronics retailer, Matthew H. Paull and George L. Mikan III, the company disclosed in a regulatory filing Monday. Mr. Mikan notified the Board that he had accepted a position as president of ESL Investments, the hedge fund run by Edward S. Lampert, which controls the competitor Sears Holding (SHLD).
News For BBY;SHLD From The Last 14 Days
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April 15, 2014
11:41 EDTBBYElectronics retailers sink after hhgregg lowers outlook
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April 13, 2014
17:45 EDTSHLDLand's End shares could head lower, Barron's says
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April 11, 2014
14:26 EDTSHLDCBL & Associates expects more J.C. Penney closures
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April 10, 2014
16:06 EDTBBYZynga CFO Vranesh leaving company, Best Buy's Lee to succeed as CFO
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April 7, 2014
07:01 EDTSHLDEquity One names David Lukes as next CEO
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06:33 EDTBBYBest Buy implied volatility of 32 at lower end of index mean range
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April 5, 2014
19:03 EDTSHLDSears completes Land's End spin-off, receives $500M in gross proceeds
Sears Holdings (SHLD) announced that its pro-rata spin-off of Lands' End (LE) from Sears Holdings closed on April 4. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol LE on April 7. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol SHLD. Sears Holdings received aggregate gross proceeds from the spin-off of $500M, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings. In the spin-off, Sears Holdings distributed a total of approximately 32M shares of Lands' End common stock to the holders of Sears Holdings common stock as of 5:30 p.m. Eastern time on March 24, the record date. Each share of Sears Holdings common stock outstanding as of the record date entitles the holder thereof to receive 0.300795 shares of Lands' End common stock, except that holders of Sears Holdings' restricted stock that was unvested as of the record date will receive cash awards in lieu of shares. In addition, as part of the spin-off, Lands' End entered into an asset-based senior secured revolving credit facility, which provides for maximum borrowings of approximately $175M with a letter of credit sub-limit, and a senior secured term loan facility of approximately $515M. The proceeds of the term loan facility were used to pay the $500M dividend to the Sears Holdings subsidiary and to pay fees and expenses associated with the foregoing facilities of approximately $10M, with the remaining proceeds to be used by Lands' End for general corporate purposes.
April 4, 2014
10:04 EDTSHLDSears risk/reward negative, says ISI Group
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08:59 EDTBBYBest Buy has upside drivers ahead, says BofA/Merrill
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