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Stock Market & Financial Investment News

News Breaks
August 21, 2014
08:01 EDTDG, FDO, DLTRFamily Dollar board rejects Dollar General proposal based on antitrust issues
Family Dollar Stores (FDO) announced that its Board of Directors has unanimously rejected the non-binding proposal made by Dollar General Corporation (DG) on the basis of antitrust regulatory considerations. In addition, the Family Dollar Board unanimously reaffirmed its recommendation in support of the merger agreement with Dollar Tree (DLTR). In negotiating the merger agreement with Dollar Tree, the Family Dollar Board ensured that the agreement permits the Board, consistent with its fiduciary duties, to negotiate with, provide due diligence materials to, and even terminate the merger agreement to enter into a new agreement with, a competing bidder. However, as is customary, the Board may commence negotiations and due diligence access only if, among other factors, the Board determines that a proposal from a competing bidder is reasonably expected to lead to a superior proposal that “is reasonably likely to be completed on the terms proposed.” The Family Dollar Board, after consultation with its financial and legal advisors who have conducted an extensive antitrust analysis, determined that the Dollar General proposal fails to satisfy this requirement. The Board’s decision follows the unanimous recommendation of a committee of four non-management independent directors that has been overseeing the Company’s consideration and exploration of strategic alternatives since January 2014. Howard R. Levine, Chairman and CEO of Family Dollar, stated, “Our Board of Directors, with the assistance of outside advisors and consultants, has been carefully analyzing the antitrust issues in a potential combination with Dollar General since the beginning of this year, as detailed in the Company’s preliminary proxy statement that was filed by Dollar Tree with the SEC on August 11. Our Board reviewed, with our advisors, all aspects of Dollar General’s proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed. Accordingly, our Board rejects Dollar General’s proposal and reaffirms its support for the pending merger with Dollar Tree.” Levine continued, “I would also like to note that Dollar General’s letter, sent late last night, contained blatant mischaracterizations and did nothing to address the antitrust issues in Dollar General’s proposal.”
News For FDO;DG;DLTR From The Last 14 Days
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February 26, 2015
10:33 EDTFDO, DLTRAnalysts split on Dollar Tree after results, Family Dollar commentary
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09:00 EDTDLTR, FDODollar Tree outlook has improved, says Wells Fargo
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08:12 EDTFDO, DLTRDollar Tree price target raised to $89 from $79 at UBS
UBS raised its price target on Dollar Tree (DLTR) to $89 from $79 following Q4 results which reinforced that the company has a strong, multi-year growth story. The firm cited its profitable margin profile, strong comps, and the potential to reformat hundreds of Family Dollar (FDO) stores.
07:56 EDTDLTRDollar Tree downgraded at BB&T
As previously reported, BB&T downgraded Dollar Tree to Hold from Buy. The firm downgraded shares due to valuation citing balanced risk/reward.
07:27 EDTFDO, DLTRStifel downgraded Dollar Tree on valuation, integration risks
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06:22 EDTDLTRDollar Tree downgraded to Hold from Buy at Stifel
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February 25, 2015
12:31 EDTDLTROn The Fly: Midday Wrap
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11:33 EDTDLTRDollar Tree downgraded to Hold from Buy at BB&T
BB&T downgraded Dollar Tree to Hold based on valuation.
09:45 EDTDLTRDollar Tree says no plans for sweeping change to minimum wage rates
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09:33 EDTDLTR, FDODollar Tree says company, Family Dollar 'ready to integrate'
09:32 EDTDLTR, FDODollar Tree says 'enthusiastic' about Family Dollar deal
Dollar Tree (DLTR) says exceeded 1B transactions in a year for the first time in company's history. Says SSS accelerated throughout the quarter. Says January was strongest comp month of the quarter. Says top selling items in the quarter included party supplies, household products, food. Says believes Canadian market can support up to 1,000 Dollar Tree stores, sees 7,000 store potential for Dollar Tree in the U.S. Sees FY15 CapEx $465M-$475M. Says expects freight costs to be a headwind to gross margin. Sees $8M headwind to sales from earlier Easter holiday. Says may see "some" product delays from West Coast port issues. Doesn't see any share repurchases in 2015. Says more enthusiastic about Family Dollar (FDO) agreement today than when deal was announced in July. Says believes can realize $300M of synergies. Comments made on the Q4 earnings conference call.
07:33 EDTDLTRDollar Tree sees FY15 EPS ex-items $3.30-$3.50, consensus $3.57
Consolidated net sales for the full year are estimated to range from $9.21B-$9.45B, consensus $9.38B. This estimate is based on a low to low-mid single-digit increase in same-store sales, and 7.2% square footage growth.
07:32 EDTDLTRDollar Tree sees Q1 EPS ex-items 69c-74c, consensus 77c
The company estimates consolidated net sales for Q1 to range from $2.15B-$2.2B, consensus $2.2B, based on a low to mid single-digit increase in same-store sales and 6.9% square footage growth.
07:31 EDTDLTRDollar Tree reports Q4 EPS ex-items $1.16, consensus $1.14
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February 24, 2015
15:21 EDTDLTRNotable companies reporting before tomorrow's open
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February 23, 2015
07:57 EDTDGDollar General resumed with an Overweight at JPMorgan
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February 17, 2015
18:17 EDTDGJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
18:06 EDTFDO, DGPaulson & Co gives quarterly update on stakes
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07:23 EDTDLTRDollar Tree Q4 results likely to beat expectations, says Stifel
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February 15, 2015
16:35 EDTDGDollar General shares could rise 20%, Barron's says
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