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Stock Market & Financial Investment News

News Breaks
December 6, 2012
08:32 EDTDRIDarden provides update on restaurant staffing plans
The company has determined that none of Darden's current full-time employees, hourly or salaried, will have their full-time status changed as a result of healthcare reform and in 2014, all of Darden's full-time employees, including hourly, salaried and executive employees, will have access to the same insurance plan coverage.
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July 28, 2014
10:47 EDTDRIDarden completes sale of Red Lobster to Golden Gate Capital
Darden Restaurants and Golden Gate Capital announced that Golden Gate has completed the acquisition of the Red Lobster business and certain other related assets and assumed liabilities for approximately $2.1B in cash. As previously announced, approximately $1.0B of the net cash proceeds are expected to be used to retire outstanding debt. The remaining net proceeds of approximately $500M-$600M are expected to be deployed for a new share repurchase program of up to $700M in fiscal 2015. "In addition to strengthening Darden's credit profile, with the lower debt levels and reduced outstanding share count, Darden expects to maintain its current quarterly dividend of 55c per share, or $2.20 annually...The completion of this transaction marks an important milestone in the actions we are taking to improve our operations, reduce costs, and focus on opportunities with the highest value-creating potential. While we still have work to do, we are making progress in our efforts to enhance performance and shareholder value," the company said.
July 24, 2014
13:45 EDTDRIStarboard files complaint to inspect Darden books
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July 23, 2014
11:38 EDTDRIBrinker retreats after analyst downgrades on industry concerns
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July 16, 2014
18:26 EDTDRIOn The Fly: After Hours Movers
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July 15, 2014
13:20 EDTDRIStarboard sends letter to Darden board seeking new leadership
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