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Stock Market & Financial Investment News

News Breaks
July 28, 2014
16:32 EDTCMI, DG, TRLA, DLTR, ACRX, Z, FDOOn The Fly: Closing Wrap
Stocks on Wall Street were little changed following a session marked by two headline making M&A deals. A worse than expected pending home sales report pushed the averages to session lows about a half hour into trading, but they soon reversed and began to drift toward positive ground. By early afternoon all three of the major equity averages were in positive territory but they were unable to hold their position and finished the session mixed, with the Dow slightly higher and the Nasdaq slightly lower. ECONOMIC EVENTS: In the U.S., the pending home sales index dropped 1.1% from the prior month to 102.7 in June, compared to expectations for it to have risen 0.5%. Markit's services PMI for July came in at 61.0 in the flash reading, which was flat with the prior reading and above the 59.8 consensus forecast. COMPANY NEWS: Dollar Tree (DLTR) agreed to acquire Family Dollar (FDO) in a cash and stock transaction worth $74.50 per Family Dollar share. The transaction was called the "best path forward" for Family Dollar by Nelson Peltz's Trian Fund, which disclosed that it will vote its over 7% Family Dollar stake in favor of the buyout. Another noted investor and Family Dollar shareholder, Carl Icahn, said he was "extremely pleased" with Dollar Tree’s intention to acquire the company, but added that he continues to believe there are "a handful of potential buyers who could realize greater synergies through a combination with Family Dollar and are hopeful that one or more of them will surface." Icahn's hopes for an alternate bid may be shared by others, as evidenced by Family Dollar ending the day up $15.08, or 24.86%, at $75.74, which was above the agreed upon deal price. Dollar General (DG), which has been speculated as a logical bidder for Family Dollar, initially sunk after the deal was announced, then recovered and was higher for much of the afternoon, though the stock ended the session down 5c, or 0.09%, at $55.56. The current planned buyer, Dollar Tree, rose 65, or 1.2%, to $54.87. MAJOR MOVERS: Among the notable gainers was another company that agreed to be acquired by a peer. Trulia (TRLA) rose $8.69, or 15.42%, to $65.04 after agreeing to merge with Zillow (Z) in a $3.5B stock-for-stock transaction. Buyer Zillow, which will own about two-thirds of the newly created company upon closing, gained $1.46, or 0.92%, to $160.32 after confirming the deal that it was reported to be nearing late last week. Among the notable losers following its earnings report was Cummins (CMI), which fell $4.80, or 3.2%, to $145.35 despite reporting earnings that beat the consensus forecast and raising its FY14 revenue guidance. Also lower were shares of AcelRx (ACRX), which plunged $4.44, or 41.0%, to $6.39 and was downgraded at Canaccord after the FDA issued a Complete Response Letter for the company's Zalviso drug. INDEXES: The Dow gained 22.02, or 0.13%, to 16,982.59, the Nasdaq slipped 4.65, or 0.1%, to 4,444.91, and the S&P 500 edged up 0.57, or 0.03%, to 1,978.91.
News For FDO;DLTR;DG;Z;TRLA;CMI;ACRX From The Last 14 Days
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November 20, 2014
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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07:24 EDTZGoldman to hold a conference
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November 19, 2014
15:31 EDTDLTRNotable companies reporting before tomorrow's open
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15:15 EDTDG, FDODollar General affirms commitment to Family Dollar deal, says FTC review ongoing
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15:14 EDTDG, FDODollar General says actively engaged in ongoing FTC review process for deal
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15:13 EDTDG, FDODollar General affirms commitment to Family Dollar acquisition
12:40 EDTZZillow volatility low as shares rally on positive mention at Sohn London
Zillow December call option implied volatility is at 49, January is at 48; compared to its 26-week average of 55 according to Track Data, suggesting decreasing price movement after positive mention at Sohn London conference .
09:17 EDTZZillow jumps 5% after positive mention at Sohn London conference
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09:16 EDTZMessara says Zillow shares could reach $770, Bloomberg reports
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08:31 EDTFDO, DLTRFamily Dollar reschedules special meeting of shareholders to December 23
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06:39 EDTFDO, DGDollar 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
14:13 EDTZZillow's Agentfolio to shut down
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09:00 EDTDGDollar General says now accepting American Express cards
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November 16, 2014
17:04 EDTCMICummins could rise over 15% in FY15, Barron's says
Cummins shares could rise over 15% in FY15 as concerns look overdone, Barron's contends in a feature article. The company should benefit from the North American market and improvements in emerging markets, the paper adds. Reference Link
November 14, 2014
17:27 EDTFDOPaulson & Co. gives quarterly update on stakes
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November 13, 2014
09:08 EDTCMIAllison Transmission and Cummins receive ARB approval for propulsion systems
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07:38 EDTZBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
07:08 EDTACRXAcelRx to present positive efficacy results in Phase 3 trial of Zalviso
AcelRx Pharmaceuticals will present safety and efficacy data from a Phase 3 pivotal trial evaluating the Zalviso sufentanil sublingual tablet system for the treatment of moderate-to-severe acute pain following joint replacement surgery at the American Society of Regional Anesthesia and Pain Medicine 13th Annual Pain Medicine Meeting on November 13th to November 16th in San Francisco. Data from the sublingual sufentanil tablet system development program highlights efficacy across various demographic populations
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