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Stock Market & Financial Investment News

News Breaks
May 23, 2014
06:41 EDTDRIStarboard raises stake in Darden to 6.2% from 5.5%
Starboard Value raised its stake in Darden to 6.2% from the 5.5% stake it reported on April 3. The activist investor yesterday announced its intention to nominate 12 candidates to the company's board.
News For DRI From The Last 14 Days
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July 28, 2014
16:55 EDTDRIDarden up 4.3% after announcing chairman, CEO Clarence Otis to step down
16:39 EDTDRIDarden to nominate 9 of 12 independent director candidates
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16:36 EDTDRIDarden chairman, CEO Otis to step down, board to separate roles
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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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