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Stock Market & Financial Investment News

News Breaks
June 27, 2014
10:35 EDTDG, FDO, DLTRDollar 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
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October 24, 2014
17:17 EDTFDOHoward Levine reduces stake in Family Dollar to 7.78% from 8.17%
October 23, 2014
06:46 EDTDLTRDollar Tree removed from the short-term buy list at Deutsche Bank
Deutsche Bank removed Dollar Tree from the short-term buy list due to an automatic 6-month time demotion.
October 21, 2014
17:27 EDTFDO, DLTR, DGFamily Dollar certifies substantial compliance with FTC
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October 20, 2014
08:31 EDTFDO, DLTRFamily Dollar sets Oct. 30 as record date for special meeting of stockholders
Family Dollar Stores (FDO) announced that October 30, 2014 has been established as the record date for determining stockholders entitled to receive notice of, and to vote at, the Special Meeting of Stockholders, at which stockholders will be asked to adopt the previously announced merger agreement, as amended, with Dollar Tree (DLTR).
October 17, 2014
17:36 EDTFDOFamily Dollar says will review Elliot notice on directors in due course
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16:09 EDTDLTR, DG, FDOElliott Advisors expresses concerns over Family Dollar merger, nominates slate
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10:00 EDTDLTR, DGOn The Fly: Analyst Initiation Summary
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08:11 EDTDGDollar General initiated with a Buy at Stifel
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08:11 EDTDLTRDollar Tree initiated with a Buy at Stifel
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October 16, 2014
07:04 EDTDGDollar General to build new distribution center in San Antonio, TX
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06:27 EDTDLTRDollar Tree accumulates $866,000 in fines in last year, WSJ reports
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October 15, 2014
11:27 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INO ATLS LOCO OPK INFY EUO FDO
October 13, 2014
12:01 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY
October 10, 2014
16:17 EDTDG, FDODollar General receives second request from FTC
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08:11 EDTDLTR, FDO, DGFamily Dollar Q4 bad enough to justify merger, says FBR Capital
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