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Stock Market & Financial Investment News

News Breaks
August 30, 2013
10:37 EDTBIG, DLTR, DGBig Lots advances despite lowered 2013 guidance
Shares of closeout retailer Big Lots (BIG) are advancing after the company reported second quarter profit that beat consensus estimates. The company, however, lowered its full year 2013 outlook. WHAT'S NEW: This morning, Big Lots reported second quarter adjusted earnings per share of 31c and revenue of $1.23B. Analysts' consensus expectations were for EPS of 24c and revenue of $1.23B. WHAT'S NOTABLE: The company lowered its full year 2013 guidance. Big Lots' FY13 adjusted EPS view was lowered to $2.80-$3.05 from $2.87-$3.12. Consensus prior to the update from the company was $2.96. Its FY13 revenue growth forecast was cut to flat to up 1%, from a prior view of up 1%-2%, while the FY13 SSS outlook remained the same. Big Lots cited its operating results for the first two quarters and its expectations for the third and fourth quarters for the lowered guidance. The company also gave a cautious view for the third quarter. It guided Q3 EPS to (13c)-(5c) versus consensus (1c), and expects Q3 U.S. comparable store sales in the range of flat to minus 2%. The company expects Q3 to be “somewhat of a transitional quarter as it incurs inventory costs" and sets up for the holiday season, executives said. PRICE ACTION: In early morning trading, Big Lots rose 75c, or 2.2%, to $35.39. OTHERS TO WATCH: Two competitors, Dollar Tree (DLTR) and Dollar General (DG), were both down fractionally in early trading.
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August 21, 2014
09:05 EDTDLTR, DGDollar Tree sees Family Dollar deal closing by early 2015
Says continuing to work on proposed transaction with Family Dollar (FDO). Sees deal closing by early 2015. Will not make any further comments at this time on Family Dollar/Dollar General (DG). Comments made on the Q2 earnings conference call.
08:04 EDTDG, DLTRFamily Dollar: Dollar General declined to schedule talks on antitrust issues
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08:03 EDTDG, DLTRFamily Dollar: Dollar General's letter contained 'blatant mischaracterizations'
08:02 EDTDLTR, DGFamily Dollar reaffirms recommendation in support of merger with Dollar Tree
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08:01 EDTDLTR, DGFamily Dollar board rejects Dollar General proposal based on antitrust issues
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08:00 EDTDGFamily Dollar board rejects Dollar General proposal based on antitrust issues
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07:55 EDTDG, DLTRFamily Dollar to reject Dollar General takeover bid, CNBC reports
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07:34 EDTDLTRDollar Tree sees FY14 EPS $2.94-$3.06, consensus $3.13
Sees FY14 sales $8.44B-$8.55B, consensus $8.51B. This estimate is based on a range of low- to low-mid-single digit positive comparable store sales. Diluted EPS, which includes 2c per share of Q2 acquisition-related costs, are expected to range from $2.94 to $3.06, excluding Q3 and Q4 acquisition-related costs.
07:32 EDTDLTRDollar Tree sees Q3 EPS 61c-66c ex-items, consensus 66c
Sees Q3 revenue $2.02B-$2.07B, consensus $2.05B. Sees low- to mid-single digit positive comparable store sales.
07:31 EDTDLTRDollar Tree says outlook for 2H unchanged from original guidance
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07:31 EDTDLTRDollar Tree reports Q2 EPS 61c ex-acquisition-related costs, consensus 64c
Reports Q2 revenue $2.03B, consensus $2.01B. Reports Q2 SSS up 4.5%.
05:35 EDTDG, DLTRDollar General sends letter to Family Dollar board
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August 20, 2014
15:26 EDTDLTRNotable companies reporting before tomorrow's open
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August 19, 2014
14:13 EDTDGDollar General upgraded to Outperform from Peer Perform at Wolfe Research
12:18 EDTDGDollar General could have bought Family Dollar last year, CNBC reports
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12:16 EDTDG, DLTRFamily Dollar board frustrated with Dollar General tactics, CNBC reports
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11:41 EDTDLTR, DGIcahn says Family Dollar throwing away $300M in fees, Reuters says
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09:46 EDTDLTR, DGFamily Dollar board likely to meet this week, CNBC's Faber reports
Family Dollar's (FDO) board is likely to meet this week to discuss the takeover bid by Dollar General (DG), CNBC's David Faber reports, citing people close to the matter. The board has long focused on antitrust implications and is likely to reject the Dollar General proposal, Faber added. Dollar Tree (DLTR) and Family Dollar previously announced a merger agreement.
09:43 EDTDG, DLTRFamily Dollar board likely to reject Dollar General bid, CNBC's Faber reports
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07:29 EDTDG, DLTRDollar Tree may raise bid for Family Dollar, says RBC Capital
RBC Capital thinks that Dollar Tree (DLTR) could increase its bid for Family Dollar (FDO) given the revenue and gross margin synergies that the firm thinks the deal would generate. However, the firm believes that Dollar General (DG) would ultimately win a bidding war for Family Dollar, leading to wins for the shareholders of Dollar General and Family Dollar.
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