New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 27, 2014
10:35 EDTDG, DLTR, FDODollar General plunges after CEO announces retirement plans
Shares of discount retailer Dollar General (DG) are lower this morning after Chief Executive Officer Rick Dreiling announced plans to retire. WHAT'S NEW: The company's chairman and CEO announced he would retire effective May 30, 2015, or upon the appointment of a successor. Dreiling has been the company's CEO since January 2008 and was named chairman in December of that year. Dreiling will continue as chairman during a transition period following the appointment of a new CEO, the company said. The board of directors is currently conducting an internal and external search for a new CEO. Dreiling commented that "after considerable reflection, I am at a point where it is appropriate to begin to plan for my retirement. I plan to work with the Board of Directors on recruiting and mentoring a new CEO." Dreiling believes Dollar General is in a strong position and has "excellent" prospects for the future. WHAT'S NOTABLE: Activist investor Carl Icahn has made public that he holds a significant stake in another company in the sector, Family Dollar (FDO). Carl Icahn disclosed in an SEC filing on June 6 that he had obtained a 9.39% stake in Family Dollar. More recently, on June 20, Icahn sent a letter to Family Dollar CEO Howard Levine urging an immediate sale, stating that he believes there would be significant interest from strategic and financial buyers. PRICE ACTION: In mid-morning trading, Dollar General fell $4.03, or 6.63%, to $57.55, while peer Family Dollar slid $2.54, or 3.7%, to $65.46. Dollar Tree (DLTR), another peer, is down 51c, or 0.95%, to $53.15.
News For DG;FDO;DLTR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 30, 2015
09:07 EDTFDOFamily Dollar reinstated with a Neutral at Goldman
Subscribe for More Information
09:07 EDTDGDollar General reinstated with a Buy at Goldman
Subscribe for More Information
09:07 EDTDLTRDollar Tree reinstated with a Conviction Buy at Goldman
Subscribe for More Information
January 27, 2015
06:04 EDTFDOTrian sold 6M shares yesterday of Family Dollar
Nelson Peltz's Trian Fund Management disclosed that on January 26, it sold an aggregate of 6M Family Dollar shares. Following such sales, Trian continues to beneficially own an aggregate of 2.36M shares, representing approximately 2.07% of the company.
January 26, 2015
10:38 EDTDLTR, FDOFamily Dollar reports January preliminary SSS up 1.2%
Subscribe for More Information
07:42 EDTDGDollar General reinstated with an Underperform at BofA/Merrill
Subscribe for More Information
07:39 EDTDLTRDollar Tree reinstated with a Neutral at BofA/Merrill
Target $80.
January 23, 2015
07:46 EDTDLTR, DGDollar General CEO stays until 2016, may seek smaller acquisitions, Reuters says
Subscribe for More Information
January 22, 2015
17:31 EDTFDOTrian Fund Management voting restrictions with Family Dollar have terminated
Subscribe for More Information
09:43 EDTDGActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
09:37 EDTFDO, DLTRDollar Tree says Family Dollar merger could close as soon as March
Dollar Tree (DLTR) commented on the outcome of the shareholder vote of Family Dollar Stores (FDO) to approve the pending merger with Dollar Tree. It said, "Today’s vote of approval by Family Dollar shareholders represents a crucial step toward combining Dollar Tree, North America’s leading fixed-price point discount retailer, with Family Dollar, a leading multi-price point retailer with a 50+ year history of serving low and middle income customers By adding Family Dollar to our portfolio of brands, Dollar Tree will soon operate more than 13,000 stores in 48 states and five Canadian provinces with annual sales exceeding $18 billion. This merger enhances our geographic footprint and diversifies our business model. We intend to operate and grow both banners." Dollar Tree added that "several steps" need to take place to facilitate the successful completion of the acquisition. By the end of January, Dollar Tree expects to reach a preliminary agreement with the FTC staff on the list of substantially all of the stores to be divested. Dollar Tree then plans to finalize divestiture agreements with the selected buyers, to address any concerns of the investigating state attorneys general, and to execute a consent order with the FTC’s Bureau of Competition. Dollar Tree and Family Dollar have agreed to provide the FTC with four weeks’ notice prior to closing. Dollar Tree expects to initiate this four-week notice period after Dollar Tree executes a consent decree with the FTC’s Bureau of Competition, which should enable the closing of the merger as soon as March 2015.
09:25 EDTFDO, DLTR, DGFamily Dollar shareholders approve Dollar Tree merger
Subscribe for More Information
09:24 EDTDLTR, DG, FDOFamily Dollar shareholders approve Dollar Tree merger
Subscribe for More Information
09:24 EDTDGDollar General says focused on core business
Subscribe for More Information
09:24 EDTDGDollar General says 'well positioned' for sustainable growth
09:23 EDTFDO, DLTR, DGDollar General says Rick Dreiling to continue as chairman and CEO
Subscribe for More Information
09:22 EDTDGDollar General says Rick Dreiling to continue as chairman and CEO
09:21 EDTDG, FDO, DLTRFamily Dollar holders approve Dollar Tree deal, Bloomberg reports
Family Dollar (FDO) shareholders approved today the buyout offer from Dollar Tree (DLTR), Bloomberg reports.
06:05 EDTDLTR, FDO, DGFamily Dollar investors expected to approve Dollar Tree deal, NY Post reports
Family Dollar (FDO) investors are poised to approve Dollar Tree's (DLTR) $8.5B cash and stock takeover offer at a meeting today, The New York Post reports. Reference Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use