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Stock Market & Financial Investment News

News Breaks
January 28, 2013
08:16 EDTCQBChiquita Brands reports Q4 preliminary revenue $738M, consensus $688.75M
The company expects Q4 comparable operating loss in the range of $10M-$20M and adjusted EBITDA in the range of $(3M)-$7M. The company expects Q4 operating loss on a U.S. GAAP basis to be in the range of $188M-$233M, including estimated non-cash goodwill and trademark impairment charges in the range of $170M-$205M along with restructuring, relocation and other exit charges. The company recognized $2M of restructuring expenses in the fourth quarter, $2M in costs related to relocation in the fourth quarter and $2M of estimated lease exit expense, net of estimated future sublease income, is excluded from comparable operating income in Q4. Consensus for EPS is (28c).
News For CQB From The Last 14 Days
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September 18, 2014
08:28 EDTCQBCutrale-Safra responds to Fyffes investor presentation to acquire Chiquita
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September 16, 2014
08:08 EDTCQBChiquita Brands, Fyffes working to obtain Phase I clearance from EC by Oct. 3
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September 10, 2014
09:37 EDTCQBChiquita Brands signs confidentiality agreement with Cutrale/Safra
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September 8, 2014
07:07 EDTCQBChiquita Brands provides update to holders
Chiquita Brands announced that it has postponed the Special Meeting of Shareholders to vote on the proposed transaction with Fyffes to October 3. The meeting had been scheduled for September 17. In addition, Fyffes proposes to seek adjournments of the Court Meeting and EGM convened for September 17 and, subject to any direction of the Irish High Court, to reconvene such meetings for October 3. The company also announced Fyffes has granted Chiquita a waiver that permits Chiquita to engage in discussions with the Cutrale Group and the Safra Group. Accordingly, Chiquita has sent a letter to Cutrale / Safra indicating its willingness to offer to Cutrale / Safra the opportunity to conduct focused due diligence and present its final and best offer. Chiquita does not expect to update the market with any further information unless and until the Board has reached a decision on a definitive course of action. In the interim, Chiquita continues to recommend that its shareholders vote "FOR" the Fyffes transaction and the other proposals on the WHITE proxy card.

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