New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 4, 2013
13:39 EDTSJM, HSY, HRL, SAFM, SFD, TSN, FDP, CQB, DOLE, CPB, HNZ, K, GIS, KFT, MDLZ, UL, UN, ECLFDA proposes new standards for foodborne illness prevention, produce safety
The U.S. Food and Drug Administration announced earlier that it proposed two new food safety rules that will help prevent foodborne illness. The proposed rules implement the Food Safety Modernization Act, or FSMA, and are available for public comment for the next 120 days, the FDA said. These two FSMA rules are part of an integrated reform effort that focuses on prevention and addresses the safety of foods produced domestically and imported, with additional rules to be published shortly. The first rule proposed would require makers of food to be sold in the United States, whether produced at a foreign- or domestic-based facility, to develop a formal plan for preventing their food products from causing foodborne illness. The rule would also require them to have plans for correcting any problems that arise. The FDA is proposing that many food manufacturers be in compliance with the new preventive controls rules one year after the final rules are published in the Federal Register but small and very small businesses would be given additional time. The FDA also seeks public comment on the second proposed rule, which proposes enforceable safety standards for the production and harvesting of produce on farms. This rule proposes science- and risk-based standards for the safe production and harvesting of fruits and vegetables. The FDA is proposing that larger farms be in compliance with most of the produce safety requirements 26 months after the final rule is published in the Federal Register. Small and very small farms would have additional time to comply, and all farms would have additional time to comply with certain requirements related to water quality. The FDA seeks public comment on this proposal, it stated.
News For ECL;UN;UL;MDLZ;KFT;GIS;K;HNZ;CPB;DOLE;CQB;FDP;TSN;SFD;SAFM;HRL;HSY;SJM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
October 17, 2014
09:43 EDTCQBChiquita to host special shareholder meeting
Subscribe for More Information
09:21 EDTSAFMSanderson Farms weakness a buying opportunity, says Cleveland Research
Cleveland Research recommends taking advantage of weakness in Sanderson Farms due to weaker breast meat prices and raised estimates to reflect lower feed costs and higher wing pricing forecasts. Shares are Buy rated.
09:07 EDTTSN, SAFMProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:39 EDTSAFM, TSNChicken stock sell-off yesterday overdone, says JPMorgan
Subscribe for More Information
October 16, 2014
16:20 EDTCQBChiquita says $14/share Cutrale-Safra bid inadequate, would consider higher bid
Chiquita Brands announced that its board of directors unanimously determined that the offer from the Cutrale Group and the Safra Group announced on October 15, to acquire all of the outstanding stock of Chiquita for $14.00 per share in cash, is inadequate and not in the best interests of Chiquita shareholders. The Chiquita Board of Directors has unanimously reaffirmed its recommendation that Chiquita shareholders vote to approve the definitive transaction agreement between Chiquita and Fyffes, as revised on September 25. In its letter to Cutrale / Safra, Chiquita said, "Of course, our Board is always willing to give fair consideration to an increased offer by Cutrale / Safra."
16:18 EDTCQBChiquita board finds $14.00 per share Cutrale-Safra offer inadequate
Subscribe for More Information
15:35 EDTTSN, SAFMSanderson Farms falls following investor day meeting
Subscribe for More Information
October 15, 2014
10:54 EDTCQBChiquita confirms receipt of revised offer from Cutrale-Safra
Subscribe for More Information
10:53 EDTCQBChiquita confirms receipt of revised offer from Cutrale-Safra
09:57 EDTCQBCutrale-Safra submits offer to acquire Chiquita for $14 per share in cash
Cutrale-Safra announced its definitive offer to acquire all the outstanding stock of Chiquita Brands for $14 per share in cash. Having completed its due diligence, Cutrale-Safra has submitted its offer to the Chiquita Board of Directors, together with a form of merger agreement that Cutrale-Safra would be prepared to execute and deliver concurrently with Chiquita entering into such merger agreement and associated disclosure letters. Cutrale-Safra is also delivering to Chiquita equity and debt commitment letters for the transaction. The offer reflects Cutrale-Safra's assessment and analysis of Chiquita's current condition and prospects. Unlike the proposed combination with Fyffes, the superior Cutrale-Safra offer provides Chiquita shareholders complete certainty with respect to the value of their Chiquita investment. This offer represents a premium of approximately 40% to the market's valuation of the original proposed transaction with Fyffes based on Chiquita's undisturbed closing share price of $10.06 as of August 8, and an approximately 19% premium to the adjusted stock price of $11.80, based upon the revised Fyffes transaction. Moreover, the proposed cash consideration of the Cutrale-Safra offer, including the assumption of Chiquita net debt, represents a multiple of approximately 12.4x EBITDA for the twelve months ended June 30. Cutrale-Safra expects to be able to close its offer promptly following entry into the merger agreement. The Cutrale-Safra offer is not subject to any financing conditions. It will be financed with equity provided by affiliates of the Cutrale Group and Safra Group. Cutrale-Safra has received a commitment letter for facilities to refinance Chiquita's existing credit facilities and a letter agreement pursuant to which Bank Safra Sarasin is obligated to make an offer to purchase Chiquita's 7.875% Senior Secured Notes due 2021 as required by the relevant indenture in connection with the transactions contemplated by the merger agreement. The form of merger agreement is on substantially similar terms to the Fyffes transaction agreement. Cavendish Acquisition will file a copy of the form of merger agreement with the Securities and Exchange Commission by close of business. Cutrale–Safra does not believe there are any regulatory obstacles that would prevent it from closing promptly following entry into the merger agreement.
09:26 EDTCQBCutrale-Safra submits offer to acquire Chiquita for $14/share in cash
Subscribe for More Information
09:12 EDTCQBCutrale-Safra raises offer for Chiquita to $14 per share, Bloomberg reports
Subscribe for More Information
October 14, 2014
16:42 EDTCQBChiquita Brands sees Q3 comparable operating income $10-$12M, conensus (13c)
Subscribe for More Information
October 13, 2014
17:24 EDTGISS&P announces changes to the S&P MidCap 400 and S&P SmallCap 600 indices
Subscribe for More Information
12:01 EDTHSYOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY
11:57 EDTSAFMSanderson Farms to host investor day
Subscribe for More Information
07:15 EDTGISNational Association of Corporate Directors to hold a conference
Subscribe for More Information
October 10, 2014
12:47 EDTCQBChiquita, Fyffes approve revision to agreement terms
Subscribe for More Information
11:18 EDTHSYOptions with decreasing implied volatility
Subscribe for More Information
05:17 EDTCQBChiquita Brands CEO acquires 63,511 shares of stock
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

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