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Stock Market & Financial Investment News

News Breaks
March 23, 2012
10:15 EDTCOST, WAG, TGT, SWY, SVU, KR, FDO, DG, CVS, WMTCitigroup's food and staples retailing research team holds a conference call
Food & Staples Retailing Research Team, along with Richard Volpe, Research Economist, USDA-Economic Research Service, provide outlook for U.S. Retail Food Prices and Inflation on an Analyst/Industry conference call. Relevant covered companies COST, CVS, DG, FDO, KR, SVU, SWY, TGT, WAG and WMT may be discussed on the Analyst/Industry conference call to be held on March 23 at 11 am.
News For COST;CVS;DG;FDO;KR;SVU;SWY;TGT;WAG;WMT From The Last 14 Days
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September 4, 2014
09:35 EDTCOSTActive equity options trading on open
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08:25 EDTTGTHome Depot could see less impact than Target from data breach, says BMO Capital
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08:04 EDTWAGWalgreen reports total Q4 sales $19.06B, consensus $18.99B
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08:03 EDTWAGWalgreen reports August SSS up 3.7%
Walgreens had August sales of $6.39B, an increase of 3.6% from $6.16B for the same month in fiscal 2013. Total front-end sales increased 2.1% in August compared with the same month in fiscal 2013, while comparable store front-end sales increased 1.4%. Customer traffic in comparable stores decreased 1.7% while basket size increased 3.1%.Prescriptions filled at comparable stores increased by 1.1% in August and increased 3.2% on a calendar day-shift adjusted basis. August 2014 had one additional Sunday and one fewer Thursday compared with August 2013. These calendar shifts negatively impacted prescriptions filled at comparable stores by 2.1 percentage points.
06:03 EDTWAGStocks with implied volatility movement; WAG RAD
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05:39 EDTCOSTCostco reports August SSS up 7%
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05:19 EDTCOSTCostco to host sales conference call
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September 3, 2014
14:49 EDTFDOIchan exits Family Dollar position with $200M profit, Reuters says
Carl Icahn, who became Family Dollar's largest shareholder just this June, has now sold his entire stake for a profit of about $200M, according to Reuters, citing sources familiar with the matter. Reference Link
14:33 EDTFDOIcahn sold entire Family Dollar stake, Reuters says
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11:42 EDTWMTWal-Mart de Mexico scales back 2014 store expansion plans, WSJ says
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10:00 EDTCOSTOn The Fly: Analyst Upgrade Summary
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09:21 EDTCOSTCostco upgraded to Buy from Neutral at Northcoast
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06:07 EDTCVSCVS to change name, end tobacco sales early
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06:04 EDTCVSCVS Caremark changes name to CVS Health
CVS Caremark announced that it is changing its corporate name to CVS Health to reflect its broader health care commitment and its expertise in driving the innovations needed to shape the future of health. Larry J. Merlo, president and CEO, CVS Health announced, "For our patients and customers, health is everything and CVS Health is changing the way health care is delivered to increase access, lower costs and improve quality. As a pharmacy innovation company at the forefront of a changing health care landscape, we are delivering breakthrough products and services, from advising on prescriptions to helping manage chronic and specialty conditions." CVS Health includes the company's retail business, which continues to be called CVS/pharmacy; its pharmacy benefit management business, which is known as CVS/caremark; its walk-in medical clinics, CVS/minuteclinic; and its growing specialty pharmacy services, CVS/specialty. With 7,700 retail pharmacies, 900 walk-in medical clinics, a leading pharmacy benefits manager with nearly 65M plan members, and expanding specialty pharmacy services, CVS Health enables people, businesses and communities to manage health in more affordable, effective ways.
September 2, 2014
16:25 EDTDG, FDOOn The Fly: Closing Wrap
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12:09 EDTFDO, DGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq clinging to narrow gains and the Dow and S&P both down about 0.25%. Stocks began the session basically unchanged but turned mixed within minutes of the open. The volume has been light and the market has moved in a narrow range, continuing the type of pattern that was seen all of last week ahead of the holiday. ECONOMIC EVENTS: In the U.S., Markit's final manufacturing PMI for August dipped slightly from the flash print of 58.0 to 57.9, but that was up from July's 55.8 reading. ISM's manufacturing index for August climbed to 59.0 from 57.1 in July, beating expectations. Construction spending bounced back 1.8% in July, beating expectations for it to have risen 1.0% after declining in the prior month. In Asia, HSBC's final manufacturing PMI for China edged down to 50.2 from the preliminary 50.3 August reading, which was already down from the 51.7 report in July. The Chinese government's official purchasing managers index came in at 51.1 for August, which was down from its 51.7 reading in July. In Europe, the Eurozone's final manufacturing PMI for August was revised down to 50.7 from 51.8 in the preliminary reading. COMPANY NEWS: Apple (AAPL) was in the headlines following a celebrity photo hack involving several of its iCloud accounts. Despite the negative publicity from those events, the stock gained nearly 1% after noted Piper Jaffray analyst Gene Munster raised his price target on the tech giant's shares to $120 from $105, citing the upcoming launch of new products and services. Another firm, Cantor, said in its own note to investors that it believes that Apple will have its most exciting product launches "in many years" over the next few months... In M&A news, Dollar General (DG) rose almost 1% after increasing its all-cash proposal to buy Family Dollar (FDO) to $80.00 per share and also increasing the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC. Shares of Family Dollar, which previously rejected Dollar General's prior proposal on the basis of antitrust regulatory concerns, traded above the new offer price, while Dollar Tree (DLTR), which currently has a merger agreement deal in place with Family Dollar, also gained 1.5%. MAJOR MOVERS: Among the notable gainers were two other companies involved in M&A, one which was a buyer and one which was bought. Norwegian Cruise Line (NCLH) advanced 12% after agreeing to acquire upscale peer Prestige Cruises for $3.03B, while Compuware (CPWR) rose over 12% after the company confirmed it agreed to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $2.5B. Among the noteworthy losers was Exelixis (EXEL), which plunged 53% after its phase 3 pivotal trial of cabozantinib in certain men with metastatic castration-resistant prostate cancer did not meet its primary endpoint and the stock was downgraded by at least three Street research firms. Also lower was lease-to-own retailer CONN'S (CONN), which dropped 30% and was downgraded at Piper Jaffray after weakness in its credit operations prompted a Q2 earnings miss and caused the company to cut its fiscal year guidance. INDEXES: Near midday, the Dow was down 43.58, or 0.25%, to 17,054.87, the Nasdaq was up 2.97, or 0.06%, to 4,583.24, and the S&P 500 was down 4.83, or 0.24%, to 1,998.54.
08:36 EDTFDO, DGFamily Dollar confirms receipt of revised unsolicited proposal from Dollar General
Family Dollar Stores (FDO) confirmed that it has received a revised, non-binding, unsolicited proposal from Dollar General (DG) to acquire all of the outstanding common shares of Family Dollar. Consistent with its fiduciary duties and subject to the terms of its existing merger agreement with Dollar Tree (DLTR), Family Dollarís Board of Directors, in consultation with its legal and financial advisors, will review and consider the revised proposal. The company's Board of Directors has not changed its recommendation in support of the merger with Dollar Tree. Family Dollar will have no further comment on Dollar Generalís proposal until the Board has completed its review.
06:16 EDTDG, FDODollar General increases proposal to board of Family Dollar to $80 per share
Dollar General (DG) announced that it has sent an enhanced acquisition proposal to the board of Family Dollar Stores (FDO). Under the terms of the revised proposal, Dollar General would increase its all-cash proposal for all outstanding shares of Family Dollar to $80.00 per share. Dollar General also increased the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC, as further evidence of its confidence in its ability to obtain antitrust approval, has agreed to pay a $500M reverse break-up fee to Family Dollar relating to antitrust matters. All other terms and conditions of the proposal remain unchanged. Dollar Generalís revised proposal provides Family Dollarís shareholders with approximately $640M of additional aggregate value over Dollar Treeís offer and represents a premium of 31.9 percent over the closing price of $60.66 for Family Dollar stock on the day prior to the Dollar Tree announcement. In addition, Dollar General has engaged additional counsel, Boies, Schiller & Flexner LLP, to independently review its antitrust work. The independent review validated Dollar Generalís analysis that the proposed transaction can be completed on the terms previously proposed.
06:04 EDTDG, FDODollar General to raise offer for Family Dollar to $80/share, CNBC reports
Dollar General (DG) is going to raise its all-cash bid for Family Dollar (FDO) to $80 per share or around $9.1B, CNBC's Andrew Ross Sorkin reports, citing sources. Dollar General is willing to sell up to 1,500 stores if required by the FTC under the new offer, Sorkin adds. Family Dollar has continued to recommend a merger with Dollar Tree (DLTR). Reference Link
06:01 EDTFDO, DGDollar General raises offer for Family Dollar to $80/share, CNBC reports
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