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Stock Market & Financial Investment News

News Breaks
November 9, 2012
10:49 EDTBX, BGS, UL, UN, CAGConAgra, B&G Foods reportedly interested in Unilever's Skippy, Bloomberg says
ConAgra (CAG) and B&G Foods (BGS) may be potential suitors for Unilever's (UN, UL) Skippy brand, three sources tell Bloomberg. Two of the people familiar with the matter say the peanut butter brand could fetch as much as $500M. Unilever is looking to complete a deal by year-end. Skippy had attracted interest from Blackstone's (BX) Pinnacle Foods, but a source says it is no longer looking at the asset. Reference Link
News For CAG;BGS;UN;UL;BX From The Last 14 Days
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March 26, 2015
07:35 EDTCAGConAgra says Sean Connolly to become CEO on April 6
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07:34 EDTCAGConAgra raises FY15 adjusted EPS view to $2.15-$2.19 from $2.13-$2.18
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07:32 EDTCAGConAgra reports Q3 adjusted EPS 59c, consensus 52c
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07:32 EDTCAGConAgra says expects to reduce debt by $1B in FY15
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March 25, 2015
15:34 EDTCAGNotable companies reporting before tomorrow's open
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12:29 EDTCAGConAgra April volatility elevated into Q3 and outlook
ConAgra April call option implied volatility is at 22, May is at 20, June is at 19, September is at 18; compared to its 26-week average of 19 according to Track Data, suggesting large April price movement into the expected release of Q3 results on March 26.
09:31 EDTUL, UNBernstein European food analyst holds analyst/industry conference call
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March 24, 2015
11:40 EDTBGSMcCormick hits 52-week high after Q1 results top expectations
Shares of spices, seasonings and condiments maker McCormick & Company (MKC) are advancing after the company's first quarter results surpassed analysts' consensus estimates. WHAT'S NEW: This morning, McCormick reported Q1 adjusted earnings per share of 70c excluding a 15c impact of special charges on revenue of $1.01B, topping analysts' consensus estimates of 64c and $985.12M, respectively. McCormick's Q1 sales rose 2% from the year-ago period and in constant currency, the increase was 6%. Consumer business sales rose 5% in constant currency in Q1 due to increased volume and product mix driven by product innovation, brand marketing support and expanded distribution. Industrial business sales grew 7% in constant currency, with higher volume and product mix, as well as pricing actions. WHAT’S NOTABLE: Looking ahead, the company forecast fiscal year 2015 adjusted EPS of EPS $3.44-$3.51, below its prior view of $3.51-$3.58 given in January and analysts' estimates for FY15 of $3.53. The company continues to expect 4%-6% sales growth in constant currency for FY15. Based on year-to-date results and prevailing exchange rates, currency is now expected to lower this sales growth range by 5 percentage points, which is more than the previous projection of 3 percentage points. In constant currency, adjusted operating income is expected to grow 6%-7% from adjusted operating income of $608M in 2014. McCormick also raised its anticipated special charges for the year to $30M from $20M due to a higher response rate to its voluntary retirement program and additional actions in EMEA. McCormick is also targeting cost reductions of at least $85M in FY15, which are expected to help offset higher material costs. The company sees its Comprehensive Continuous Improvement program delivering at least $65M in 2015, and sees savings from reorganization actions of $20M. Chairman and Chief Executive Officer Alan Wilson commented that Q1 operating income was unfavorably impacted by several factors including special charges, unfavorable currency rates and higher material costs. Wilson said the company anticipates that these headwinds will continue in 2015, but expect the benefit of pricing actions and cost reduction efforts to build in the upcoming quarters. PRICE ACTION: In late morning trading, McCormick rose $2.90 or 3.96% to $76.10 on more than twice its average daily trading volume. The stock hit a fresh 52-week high of $77.79 earlier in the session. Including today's advance, the shares have gained nearly 13% over the past 12 months. OTHERS TO WATCH: Other companies in the food space include TreeHouse Foods (THS), down 0.8%, B&G Foods (BGS), up 1.2%, and Pinnacle Foods (PF), up 0.1%.
March 23, 2015
07:33 EDTUNEnergizer unit takeover value could be raised by Unilever, says Wells Fargo
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March 20, 2015
07:41 EDTULAmerican Academy of Dermatology to hold annual meeting
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March 19, 2015
07:55 EDTBXMolycorp bondholders led by Apollo close to hiring Blackstone, Bloomberg says
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06:06 EDTBXSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
15:22 EDTBXMolycorp creditors close to hiring Blackstone, Bloomberg says
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07:27 EDTBXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:08 EDTBXSome senior Blackstone execs may leave due to spin-off with PJT, Reuters says
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March 17, 2015
14:21 EDTBXBlackstone unlikely to lead bid for Macerich, Bloomberg says
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March 16, 2015
09:02 EDTBXRedOwl announces investment by Blackstone
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08:35 EDTBXBlackstone, 233 South Wacker confirm agreement for sale of Willis Tower
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06:10 EDTBXBlackstone buys Chicago's Willis Tower for $1.3B, WSJ reports
Blackstone executives say the firm has formed a deal to acquire the Willis Tower in Chicago for $1.3B, The Wall Street Journal reports. The deal for the former Sears Tower would be the highest price ever paid for a U.S. office tower outside of New York. Reference Link
05:53 EDTBXBlackstone looking to sell Center Parcs, The Sunday Times reports
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