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Stock Market & Financial Investment News

News Breaks
June 9, 2014
10:18 EDTDLTR, DG, FDODollar stores rally after Icahn takes Family Dollar stake
Shares of Family Dollar (FDO) are climbing after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in the company and Fox Business reported that Icahn could push for a merger between Family Dollar and peer Dollar General (DG). WHAT'S NEW: Carl Icahn disclosed in an SEC filing late Friday that he had obtained a 9.39% stake in discount retailer Family Dollar. Icahn stated that he believes the company's stock is undervalued and added that he sees great long-term potential in the sector. Meanwhile, Icahn told Fox Business that he would consider trying to get Family Dollar to merge with another company in the sector, Dollar General. For its part, Family Dollar said that it was open to holding dialogues with all of its shareholders, but then adopted a one-year shareholder rights plan meant to prevent anyone from gaining control of the company without paying a premium. ANALYST REACTION: In a note to investors earlier today, Jefferies analyst Daniel Binder upgraded Family Dollar and Dollar General to Buy from Hold. The analyst upgraded the stocks based on his belief that the companies could merge. A merger could allow the companies to generate large cost savings, according to Binder. He set a $79 price target on Family Dollar and a $75 price target on Dollar General. Significantly less optimistic about the potential for a merger was FBR Capital analyst Dutch Fox. Dollar General doesn't want to merge with Family Dollar and such a deal won't happen anytime soon, the analyst contended. However, both companies could launch share repurchase plans, he believes. Fox kept a Market Perform rating on Family Dollar and an Outperform rating on Dollar General. He recommended that investors respond to the news by being long Dollar General in the short-term. PRICE ACTION: In early trading, Family Dollar jumped 15% to $69.50, Dollar General surged 11% to $64.25, and Dollar Tree (DLTR), another retailer in the space, rose 2% to $56.35.
News For FDO;DG;DLTR From The Last 14 Days
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November 24, 2015
12:08 EDTDLTROn The Fly: Top stock stories at midday
Stocks began the session in negative territory and remained there for most of the morning. The weakness was attributed to the worldwide travel alert issued by the U.S. State Department on the eve of the Thanksgiving holiday as well as the shooting down of a Russian plane by Turkey, both of which heightened the tension of investors. The averages have shown improvement since the European markets closed and have moved to their session highs to turn mixed near noon. ECONOMIC EVENTS: In the U.S., the estimate of third quarter GDP growth was boosted to 2.1% from 1.5%, matching estimates. Personal consumption growth was estimated at 3.0% in the second look, versus expectations for an increase of 3.2%. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.6% month over month in September, versus expectations for an increase of 0.3%. The Conference Board's consumer confidence reading for November came in at 90.4, missing the consensus forecast of 99.5. COMPANY NEWS: Bill Ackman has put more funds behind his big bet in Valeant Pharmaceuticals (VRX), as filings show that Pershing Square raised its stake in the embattled drugmaker to 9.9%. In other news from a high-profile activist investor, Carl Icahn revealed that he has taken a 7.13% stake in Xerox (XRXZ) and may seek positions on the board of the company. Research firm Piper Jaffray believes that Icahn's involvement in the company can amplify the company's review and boost the stock, but was not the case at midday, as Xerox shares slipped about 2% following last night's disclosure. MAJOR MOVERS: Among the notable gainers was Dollar Tree (DLTR), which rallied 6% after it reported upbeat quarterly earnings and backed its fiscal 2015 guidance. Also higher was Burlington Stores (BURL), which gained 8% after reporting quarterly results and approving a new $200M share repurchase program. In addition, Boulder Brands (BDBD) was up 8.5% after it agreed to be acquired by Pinnacle Foods (PF) for $11 per share. Pinnacle slipped 4% following the deal announcement. Another noteworthy losers was Brocade (BRCD), which fell 8% and was downgraded to Neutral from Overweight at JPMorgan following its Q4 earnings. Also lower was Microsemi (MSCC), which dropped 6% after it agreed to acquire PMC-Sierra (PMCS), which was also 6% lower, in a $2.5B transaction. INDEXES: Near midday, the Dow was up 15.57, or 0.09%, to 17,808.25, the Nasdaq was down 8.75, or 0.17%, to 5,093.73, and the S&P 500 was down 0.7, or 0.03%, to 2,085.89.
10:07 EDTDLTRDollar Tree spikes higher post-earnings
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09:40 EDTDLTRDollar Tree sees Q4 adjusted EPS $2.32-$2.51, consensus $2.74
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09:39 EDTDLTRDollar Tree raises FY15 revenue view to $15.45B-$15.55B from $15.3B-$15.52B
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09:34 EDTDLTRDollar Tree targeting 200 store conversions in FY15
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07:37 EDTDLTRDollar Tree reports Q3 adjusted EPS $1.33, may not compare to consensus 53c
Reports Q3 revenue $4.95B, consensus $4.84B. Reports Q3 SSS up 2.1% year over year.
November 23, 2015
16:47 EDTDLTRLone Pine Capital reports 5.6% passive stake in Dollar Tree
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15:28 EDTDLTRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
November 20, 2015
15:26 EDTDLTRDollar Tree volatility elevated into Q3 and outlook
Dollar Tree December call option implied volatility is at 37, January is at 35; compared to its 52-week range of 18 to 40, suggesting large near term price movement into the expected release of Q3 results on November 24.
10:00 EDTDGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: (FLWS) upgraded to Buy from Hold at Noble Financial... Diageo (DEO) upgraded to Overweight from Neutral at JPMorgan... Dollar General (DG) upgraded to Buy from Hold at BB&T... Intel (INTC) upgraded on positive checks at JMP Securities... Mazor Robotics (MZOR) upgraded to Buy from Neutral at Sterne Agee CRT... Star Bulk Carriers (SBLK) upgraded to Neutral from Sell at UBS... Trimble (TRMB) upgraded to Buy from Neutral at Goldman.
07:04 EDTDGDollar General upgraded to Buy from Hold at BB&T
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November 16, 2015
17:02 EDTDGPoint72 added to lululemon position, subtracted from Netflix position
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14:20 EDTDGDollar General begins construction on new distribution center in Wisconsin
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