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Stock Market & Financial Investment News

News Breaks
April 30, 2012
06:13 EDTDG, WMT, WCRX, PSS, WWWOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Stock-trading hedge funds looking to extend their Q1 rebound ran into a nervous market in April, a reminder that funds betting that stocks will rise or fall based on valuation or other fundamentals can get thrown off when markets become rough, the Wall Street Journal reports...Dollar General (DG), whose stores have taken bargain hunting shoppers from Wal-Mart Stores (WMT), is now looking to take market share from the grocery business, the Wall Street Journal reports...REUTERS: San Francisco Fed President Williams is more optimistic about the U.S. economy now than three months ago and doesn't see the need for further monetary measures now, according to the Handelsblatt newspaper, Reuters reports...China is considering sovereign guarantees for its ships to enable it to continue importing Iranian crude after new EU sanctions come into effect in July, Reuters reports...BLOOMBERG: Warner Chilcott (WCRX) is considering its options, including a possible sale, after receiving interest from strategic and private-equity buyers, sources say, Bloomberg reports...Collective Brands (PSS) selected a group made up of Wolverine World Wide (WWW) and Golden Gate Capital as the leader to buy the company, sources say, Bloomberg reports.
News For DG;WMT;WCRX;PSS;WWW From The Last 14 Days
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September 30, 2014
19:28 EDTWMTFederal judge orders Wal-Mart to face Mexican-bribe claims, Bloomberg says
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17:40 EDTWMTWal-Mart issues statement regarding Tracy Morgan lawsuit
The company said, “Walmart is committed to working to resolve all of the remaining issues as a result of the accident. As part of the ordinary course of legal proceedings, Walmart filed an initial response yesterday to the lawsuit that included facts and defenses that may impact the case moving forward. While we were required to respond to the lawsuit, we have also taken steps to encourage settlement discussions. Our thoughts continue to go out to everyone involved, and we remain committed to doing what’s right.”
September 29, 2014
18:15 EDTWMTWal-Mart blames Tracy Morgan for his own injuries in car crash, USA Today says
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08:50 EDTWMTWal-Mart names Instagram CEO and co-founder Kevin Systrom to board
Wal-Mart Stores (WMT) announced that its Board of Directors has appointed Kevin Systrom, an entrepreneur, software engineer and co-founder of photo-sharing service Instagram (FB), as a new member of the company's Board, effective September 26. Systrom became the 15th member of the Board and will also serve as a member of the company's Technology and eCommerce Committee and its Compensation, Nominating and Governance Committee. Systrom is currently CEO of Instagram, where he is responsible for its day-to-day operations and has overseen its growth to more than 200 million monthly active accounts.
08:14 EDTDGDollar General buying Dollar Tree 'not impossible,' says FBR Capital
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September 26, 2014
18:01 EDTDGAttorneys general investigating effects of proposed Family Dollar merger
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September 24, 2014
12:29 EDTWMTOn The Fly: Midday Wrap
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09:49 EDTWMTGreen Dot's 2014 guidance incorporates Wal-Mart, says Piper Jaffray
Green Dot (GDOT) announced this morning that it will offer its GoBank product at Wal-Mart (WMT) stores nationwide by the end of October. Piper said GoBank has been piloted in a few stores in Texas and the launch has already been incorporated into Green Dot's 2014 guidance and accounts for relatively little in revenues. The firm views the news as a positive in total and said it shows continued traction within GoBank and its relationship with Wal-Mart. Shares of GoBank are Overweight rated with a $24 price target.
09:05 EDTWMTOn The Fly: Pre-market Movers
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05:14 EDTWMTGreen Dot, Wal-Mart announce nationwide rollout of GoBank
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September 18, 2014
10:40 EDTWMTWal-Mart to hire 60K seasonal associates, 10% more than last year
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September 17, 2014
17:32 EDTDGDollar General remains committed to acquisition of Family Dollar
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09:45 EDTWMTWal-Mart faces criticism for dismissing China workers, Bloomberg reports
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08:28 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
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06:06 EDTWMTWal-Mart to pay $66,000 to settle false advertising investigation with NY AG
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