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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:54 EDTDG, FDO, DLTRFamily 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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May 22, 2015
07:09 EDTDLTRDollar Tree underlying business healthy, says Wells Fargo
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May 21, 2015
09:28 EDTDLTROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quality Systems (QSII), up 9.5%... Trina Solar (TSL), up 7.1%... Best Buy (BBY), up 7.5%... Kirkland's (KIRK), up 4.3% after reporting quarterly results, guidance, and announcing a $1.50 per share special dividend... Williams-Sonoma (WSM), up 3.8%... salesforce.com (CRM), up 4.8%... Youku Tudou (YOKU), up 1.2%. ALSO HIGHER: CTPartners (CTP), up 30.7% after agreeing to exclusive negotiations to be acquired by DHR International... Omnicare (OCR), up 1.3% after CVS Health (CVS) agrees to acquire the company for $98.00 per share, CVS Health is up 1%... Telenav (TNAV), up 3.3% after being initiated with an Outperform at Northland. DOWN AFTER EARNINGS: NetApp (NTAP), down 11.7%... Rexnord (RXN), down 9.9%... Dollar Tree (DLTR), down 2%. ALSO LOWER: Wave Systems (WAVX), down 22.9% after 7.3M share Spot Secondary priced at 65c... Lumber Liquidators (LL), down 16.5% after CEO resigns... Dicerna Pharmaceuticals (DRNA), down 5.8% after 2.75M share Secondary priced at $17.75.
07:44 EDTFDO, DLTRDollar Tree intends to close proposed Family Dollar merger in early July
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07:42 EDTDLTRDollar Tree narrows FY15 EPS ex-costs view to $3.32-$3.47 from $3.30-$3.50
Consensus $3.49. Narrows FY15 revenue view to $9.24B-$9.42B, compared to the company’s previous expected range of $9.21B-$9.45B. Estimate is based on a low to low-mid single-digit increase in same-store sales, and 7.3% square footage growth. Adjusted for Q1 results, outlook for the remainder of the year remains unchanged from the company’s original 2015 guidance, Dollar Tree said.
07:41 EDTDLTRDollar Tree sees Q2 EPS ex-acquisition costs 63c-68c, consensus 70c
Sees Q2 revenue $2.17B-$2.23B, consensus $2.23B. Sees Q2 low to low-mid single-digit increase in same-store sales and 8% square footage growth.
07:39 EDTDLTRDollar Tree reports Q1 EPS ex-acquisition costs 71c, consensus 75c
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May 20, 2015
15:00 EDTDLTRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar Tree (DLTR), consensus 75c... Best Buy (BBY), consensus 29c... Advance Auto Parts (AAP), consensus $2.48... Patterson Companies (PDCO), consensus 65c... Donaldson Company (DCI), consensus 35c... Booz Allen Hamilton Holding (BAH), consensus 33c... The Buckle (BKE), consensus 78c... Monro Muffler Brake (MNRO), consensus 39c... Brady Corp. (BRC), consensus 37c... Trina Solar (TSL), consensus 9c... Quality Systems (QSII), consensus 15c... Kirkland's (KIRK), consensus 11c... Bon-Ton Stores (BONT), consensus ($1.56).
May 18, 2015
08:46 EDTDLTRDollar Tree weakness an attractive buying opportunity, says UBS
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May 15, 2015
17:33 EDTDLTR, DGPoint72 Asset Management gives quarterly update on stakes
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17:07 EDTFDOTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
14:15 EDTDLTRDollar Tree volatility flat into Q1 and outlook
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