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Stock Market & Financial Investment News

News Breaks
July 28, 2014
16:32 EDTFDO, DLTR, DG, Z, TRLA, CMI, ACRXOn 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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October 17, 2014
16:09 EDTDG, FDO, DLTRElliott Advisors expresses concerns over Family Dollar merger, nominates slate
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10:00 EDTDLTR, DGOn The Fly: Analyst Initiation Summary
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08:11 EDTDGDollar General initiated with a Buy at Stifel
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08:11 EDTDLTRDollar Tree initiated with a Buy at Stifel
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October 16, 2014
07:04 EDTDGDollar General to build new distribution center in San Antonio, TX
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07:02 EDTACRXAcelRx updates patent portfolio for Zalviso and platform technologies
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06:27 EDTDLTRDollar Tree accumulates $866,000 in fines in last year, WSJ reports
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October 15, 2014
13:16 EDTCMICummins upgraded to Buy from Hold at Standpoint Research
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11:27 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INO ATLS LOCO OPK INFY EUO FDO
October 13, 2014
14:34 EDTCMICummins sell-off a buying opportunity, says Argus
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12:01 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY
October 10, 2014
16:17 EDTFDO, DGDollar General receives second request from FTC
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08:11 EDTDG, DLTR, FDOFamily Dollar Q4 bad enough to justify merger, says FBR Capital
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October 9, 2014
16:19 EDTFDO, DLTRFamily Dollar will not provide guidance for FY15
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16:17 EDTFDOFamily Dollar reports Q4 adjusted EPS 73c, consensus 77c
Reports Q4 revenue $2.61B, consensus $2.58B. Reports Q4 SSS up 0.3%. Q4 adjusted results exclude the negative impact on diluted net income per common share of 43c per share related to the Company’s restructuring charges and fees related to its pending merger with Dollar Tree.
10:27 EDTACRXAcelRx management to meet with Guggenheim
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09:41 EDTFDO, DGBofA/Merrill retail analysts hold an analyst/industry conference call
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October 8, 2014
15:25 EDTFDONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP), consensus $1.29; Family Dollar (FDO), consensus 77c; Lindsay (LNN), consensus 57c.
10:00 EDTCMIOn The Fly: Analyst Initiation Summary
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06:29 EDTCMICummins initiated with a Buy at Stifel
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