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Stock Market & Financial Investment News

News Breaks
January 13, 2014
06:06 EDTFDO, IOCStocks with implied volatility movement; FDO IOC
Stocks with implied volatility movement; Family Dollar (FDO) 29, InterOil (IOC) 55 according to iVolatility.
News For FDO;IOC From The Last 14 Days
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September 18, 2014
10:00 EDTIOCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with a Neutral at Macquarie... Acacia Research (ACTG) initiated with an Outperform at Northland... Alibaba (BABA) initiated with a Buy at CRT Capital... Allianz (AZSEY) initiated with a Buy at UBS... Boulder Brands (BDBD) initiated with a Neutral at Piper Jaffray... Brookfield Renewable (BEP) initiated with an Outperform at Macquarie... Cogent (CCOI) initiated with an Overweight at JPMorgan... Discovery (DISCA) initiated with a Buy at Argus... FCB Financial (FCB) initiated with a Market Perform at Keefe Bruyette... Five Oaks (OAKS) initiated with a Buy at Ladenburg... Furmanite (FRM) initiated with a Buy at Sidoti... Fusion Telecommunications (FSNN) initiated with a Buy at H.C. Wainwright... Helen of Troy (HELE) initiated with an Overweight at Piper Jaffray... ICON plc (ICLR) initiated with a Buy at KeyBanc... InterOil (IOC) initiated with an Outperform at Credit Suisse... Jarden (JAH) initiated with an Overweight at Piper Jaffray... Level 3 (LVLT) initiated with an Overweight at JPMorgan... Lombard Medical (EVAR) initiated with a Buy at BTIG... NRG Yield (NYLD) initiated with an Outperform at Macquarie... Newell Rubbermaid (NWL) initiated with a Neutral at Piper Jaffray... NextEra Energy Partners (NEP) initiated with an Outperform at Macquarie... Novatel Wireless (NVTL) initiated with a Buy at H.C. Wainwright... Parker-Hannifin (PH) initiated with a Hold at Deutsche Bank... Pattern Energy (PEGI) initiated with a Neutral at Macquarie... Rentrak (RENT) initiated with a Buy at Wunderlich... Rhino Resources (RNO) initiated with a Buy at Ladenburg... Ryerson (RYI) initiated with a Buy at KeyBanc... SFX Entertainment (SFXE) initiated with a Buy at Maxim... SoftBank (SFTBY) initiated with a Buy at Jefferies... Sprouts Farmers Markets (SFM) initiated with a Neutral at Piper Jaffray... TerraForm Power (TERP) initiated with an Outperform at Macquarie... Vince Holding (VNCE) initiated with a Buy at B. Riley... WhiteWave Foods (WWAV) initiated with an Overweight at Piper Jaffray.
September 17, 2014
17:32 EDTFDODollar General remains committed to acquisition of Family Dollar
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16:14 EDTIOCInterOil initiated with an Outperform at Credit Suisse
Credit Suisse initiated InterOil with an Outperform and $71 price target.
08:28 EDTFDOFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTFDOFamily Dollar board rejects Dollar General's 'illusory' tender offer
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September 16, 2014
05:53 EDTIOCInterOil spuds Antelope-4
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September 12, 2014
10:00 EDTFDOOn The Fly: Analyst Initiation Summary
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06:49 EDTFDOSome Dollar Tree owners see upside of Family Dollar offer failure, Reuters says
Analysts are saying that some Dollar Tree (DLTR) shareholders are seeing benefits if the company's $8.5B takeover of Family Dollar (FDO) falls through, by noting that the firm could broaden and repurchase stock with the $309B breakup fee while evading all the instability of a possible acquisition, reported Reuters. Reference Link
06:31 EDTFDOFamily Dollar initiated with a Neutral at UBS
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06:15 EDTFDODollar General waiting on FTC feedback for Family Dollar deal, NY Post reports
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05:57 EDTFDOStocks with implied volatility movement; SDS FDO
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September 11, 2014
07:46 EDTFDOFamily Dollar should drop opposition to Dollar General deal, WSJ says
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September 10, 2014
13:03 EDTFDOOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with the Nasdaq comfortably the leader among the major averages. The market opened relatively quietly as investors digested the bevy of research reports surrounding apple (AAPL) and the companies effected by its new products and services announced yesterday. The averages crossed into negative ground early in trading, made it back to positive territory just before the lunch hour, and now are all in the black. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.1% in July, which was below expectations for an increase of 0.5%. Wholesale sales rose 0.7%, which was above the 0.6% increase that was forecast. COMPANY NEWS: The strength in the Nasdaq was largely attributable to Apple, which rose about 2.5% the day after unveiling two new, larger iPhone 6 models, the Apple Watch and a new payment system, named Apple Pay... Dollar General (DG) "went hostile" in its pursuit of peer Family Dollar (FDO), commencing a tender offer to acquire all of the company's outstanding shares for $80.00 per share in cash. Family Dollar confirmed the unsolicited offer, noting that the terms are the same as those in the previously rejected proposal made by Dollar General on September 2. Family Dollar said its board will review and consider Dollar General’s tender offer, but added that the board has not changed its recommendation in support of the company's merger with Dollar Tree (DLTR). MAJOR MOVERS: Among the notable gainers was NPS Pharmaceuticals (NPSP), which rose 21% after several analysts said FDA briefing documents for an advisory panel meeting on its Natpara drug were more favorable than expected. Also higher was clothing and accessories retailer Land's End (LE), which gained nearly 17% after the company's second quarter results beat the estimate of the only analyst that covers it. Among the noteworthy losers was eBay (EBAY), which fell for a second straight day after Apple announced its new mobile payment system, Apple Pay, that could come in direct competition with eBay's PayPal service. Shares of PayPal's parent were downgraded to Neutral this morning at Piper Jaffray and fell 3% near noon. Also lower following yesterday's presentation by Apple was partner GT Advanced (GTAT), which was downgraded at Goldman, Piper Jaffray and Dougherty and dropped more than 14% after it was revealed that sapphire will be used in the display cover of Apple Watch but not the iPhone 6. INDEXES: Near midday, the Dow was up 16.02, or 0.09%, to 17,029.89, the Nasdaq was up 21.10, or 0.46%, to 4,573.38, and the S&P 500 was up 2.62, or 0.13%, to 1,991.06.
10:08 EDTFDOFamily Dollar confirms Dollar General unsolicited tender offer
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10:06 EDTFDOFamily Dollar confirms Dollar General unsolicited tender offer
09:27 EDTFDODollar General tender for Family Dollar a logical next step, says Wells Fargo
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06:19 EDTFDODollar General commences tender offer to acquire Family Dollar for $80/share
Dollar General (DG) announced that it has commenced a tender offer to acquire all outstanding shares of Family Dollar Stores (FDO) for $80.00 per share in cash. The offer is scheduled to expire at 5:00 p.m., New York City time, on October 8, 2014, unless the offer is extended. The full terms, conditions and other details of the tender offer are set forth in the offering documents that Dollar General will file today with the SEC. Dollar General also will promptly file for clearance under the Hart-Scott-Rodino Act, which will allow the company to begin the antitrust approval process with the FTC. Dollar General’s all-cash offer of $80.00 per share provides Family Dollar shareholders with a "superior valuation" to the $74.50 per share cash / stock offer announced by Dollar Tree (DLTR) on July 28, 2014. Dollar General’s offer provides Family Dollar’s shareholders with approximately $640M of additional aggregate value over Dollar Tree’s offer. As part of a definitive merger agreement with Family Dollar, Dollar General would be willing to agree to divest up to 1,500 stores if required by the FTC and to pay Family Dollar a $500M reverse break-up fee if the transaction did not close for reasons related to antitrust approvals.
06:01 EDTFDODollar General commences tender offer to acquire Family Dollar for $80/share
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September 9, 2014
08:33 EDTFDODollar Tree, Family Dollar receive second request from FTC under HSR Act
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