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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:54 EDTFDO, DLTR, DGFamily Dollar rises as Icahn urges immediate sale of company
Shares of discount retailer Family Dollar Stores (FDO) are higher this morning after Carl Icahn sent a letter to the company's Chief Executive Officer urging an immediate sale. WHAT'S NEW: Citing consistent underperformance of the company, activist investor Carl Icahn said in a letter to Family Dollar CEO Howard Levine on Thursday that "it is imperative that Family Dollar be put up for sale immediately." Icahn believes there would also be significant interest from strategic and financial buyers, adding that "it is clear that now is a perfect time to sell," given the current interest rate environment and stock market. Icahn also said he believes that "an overwhelming majority of the company's shareholders would be in favor of a sale," and that three of his representatives should be added to the company's board of directors immediately. The activist investor claims that Family Dollar has been "in limbo" for too long and that consolidation in the discount retail space is "inevitable." Icahn warned that if he and the company cannot work on this collaboratively, he will take the matter directly to shareholders and commence a written consent solicitation within the next few weeks to replace Family Dollar's entire board of directors with "individuals that will have a shareholder mandate to sell the company." The letter comes after a conversation between Icahn and Levine the evening before. WHAT'S NOTABLE: Family Dollar responded to Icahn's letter, explaining that the company's management and board of directors are committed to acting in the best interests of the company and its shareholders. Family Dollar noted that the company is currently undertaking an in-depth business review, and will continue to take immediate, strategic actions to improve its performance "as appropriate." Family Dollar said it is open to communicating constructively with its investors to enhance value. PRICE ACTION: Family Dollar is up $1.06, or 1.6%, to $69.20 in mid-morning trading. OTHERS TO WATCH: Shares of Family Dollar peer Dollar General (DG) are up over 1% to $62.18, while another peer, Dollar Tree (DLTR), is fractionally lower at $53.61.
News For FDO;DG;DLTR From The Last 14 Days
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November 26, 2014
06:07 EDTDGStocks with implied volatility above IV index mean; DG ACHN
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November 25, 2014
05:58 EDTDGStocks with implied volatility above IV index mean; DG LULU
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November 24, 2014
06:07 EDTDGStocks with implied volatility above IV index mean; DG UNG
Stocks with implied volatility above IV index mean; Dollar General (DG) 43, United States Natural Gas Fund (UNG) 62 according to iVolatility.
November 21, 2014
07:43 EDTFDO, DLTRDollar Tree price target raised to $74 from $68 at UBS
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07:04 EDTDLTRDollar Tree price target raised to $72 from $64 at Stifel
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05:57 EDTDGStocks with implied volatility above IV index mean; DG GME
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November 20, 2014
10:33 EDTDGHigh option volume stocks
High option volume stocks: KBR LM PRGO CHRW DG ZMH LGF ZTS OSIR REGI
09:30 EDTDLTR, FDODollar Tree says working to close Family Dollar deal 'as soon as possible'
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09:21 EDTDLTROn The Fly: Pre-market Movers
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07:35 EDTDLTRDollar Tree sees Q4 EPS $1.07-$1.14, consensus $1.13
Sees Q4 revenue $2.39B-$2.46B, consensus $2.45B. Sees Q4 SSS up in the low single digits.
07:35 EDTDLTRDollar Tree sees FY14 EPS including acquisition related costs $2.97-$3.04
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07:33 EDTDLTRDollar Tree reports Q3 EPS 69c ex-items, consensus 64c
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November 19, 2014
15:31 EDTDLTRNotable companies reporting before tomorrow's open
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15:15 EDTFDO, DGDollar General affirms commitment to Family Dollar deal, says FTC review ongoing
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15:14 EDTFDO, DGDollar General says actively engaged in ongoing FTC review process for deal
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15:13 EDTFDO, DGDollar General affirms commitment to Family Dollar acquisition
08:31 EDTDLTR, FDOFamily Dollar reschedules special meeting of shareholders to December 23
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06:39 EDTDG, FDODollar General may have to sell over 4K stores for deal approval, NY Post says
The Federal Trade Commission may require Dollar General (DG) to sell more than 4,000 of its stores to gain approval of its deal to buy Family Dollar (FDO), according to The New York Post. Dollar General had previously said that it was willing to sell 1,500 of its stores to facilitate the deal, the newspaper stated. Reference Link
November 17, 2014
09:00 EDTDGDollar General says now accepting American Express cards
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November 14, 2014
17:27 EDTFDOPaulson & Co. gives quarterly update on stakes
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