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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:07 EDTFDOFamily Dollar volatility expected to move on Icahn disclosing 9.39% stake
Family Dollar volatility is expected to move on Icahn reporting a 9.39% stake. Overall option implied volatility of 26 is below its 26-week average of 30 according to Track Data, suggesting decreasing price movement.
News For FDO From The Last 14 Days
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August 18, 2014
18:13 EDTFDOWal-Mart not likely to bid for Family Dollar, Bloomberg reports
According to people familiar with the situation, Wal-Mart Stores (WMT) is unlikely to make an offer for Family Dollar Stores (FDO), Bloomberg reports. Reference Link
16:52 EDTFDOOn The Fly: Closing Wrap
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15:50 EDTFDOIcahn makes statement concerning Dollar Generalís bid for Family Dollar
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14:23 EDTFDOFamily Dollar says board has not changed support of Dollar Tree merger
Family Dollar (FDO) said it remains subject to the merger agreement with Dollar Tree (DLTR), and the company's board has not changed its recommendation in support of the merger with Dollar Tree. Family Dollar added it will have no further comment on Dollar Generalís (DG) proposal until the board has completed its review.
14:21 EDTFDOFamily Dollar to 'review and consider' Dollar General proposal
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14:18 EDTFDOFamily Dollar says will 'carefully review and consider' Dollar General proposal
12:18 EDTFDOThe Fly: Midday Wrap
The market opened in positive territory following news that Russia and Ukraine were working on a potential ceasefire. The market had faltered on Friday following reports that the Ukraine army had attacked a Russian military vehicle after it crossed into Ukraine territory. The market opened sharply higher and then received an additional boost when the NAHB Housing market Index came in above expectations. The averages quickly moved to session highs, lifting the S&P to its highest level ever and putting August on track for the best monthly performance since February. ECONOMIC EVENTS: The NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). Data was better than expected. COMPANY NEWS: Shares of discount retailer Dollar General (DG) were higher by about 10% after the company announced a proposal to acquire rival Family Dollar (FDO) for $78.50 per share in cash, in a transaction valued at $9.7B. Shares of Family Dollar rose approximately 5% on the news. MAJOR MOVERS: Among the notable gainers was Sensata Technologies (ST), which rose 5.6% after after agreeing to buy privately held Schrader International for $1B. Also higher was Lannett (LCI), which gained 9.3% after the company said fourth quarter and full-year 2014 earnings per share and revenue would exceed analysts' consensus estimates. Among the noteworthy losers was Monster Beverage (MNST), which fell about 4% after research firm Jefferies downgraded the shares to Hold from Buy saying the valuation looks full following its recent rally. Also lower was NXP Semiconductors (NXPI), which dropped 2.3% after Goldman Sachs downgraded the company to Sell from Neutral, and downgraded the semiconductor sector to Cautious from Neutral. The firm expects consensus estimates to move lower due to cyclical headwinds, increased Q4 and Q1 seasonality, and a RF correction. Goldman lowered their price target on the shares to $54 from $58. INDEXES: Near midday, the Dow was up 168.13, or 1.01%, to 16,831.04, the Nasdaq rose 44.11, or 0.99%, to 4,508.87, and the S&P 500 was higher by 16.79, or 0.86%, to 1,971.88.
11:53 EDTFDOFamily Dollar likely to favor a Dollar Tree bid, says Wells Fargo
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09:03 EDTFDOOn The Fly: Pre-market Movers
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08:47 EDTFDODollar General says would slow store opening growth in Family Dollar deal
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08:35 EDTFDODollar General says emphasis is getting deal 'put to bed'
Says when deal gets done, "Family Dollar (FDO) will look exactly like Dollar General inside." Says is a "huge fan" of Todd Vasos, who would lead the integration, but does not comment on whether Vasos will succeed Dollar General (DG) CEO Rick Dreiling, who will retire in May 2016. Doesn't see antitrust issues as "insurmountable."
08:23 EDTFDODollar General says has expressed interest in Family Dollar 'multiple times'
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08:18 EDTFDODollar General says can mange Family Dollar 'more efficiently and effectively'
Dollar General (DG) says it believes its proposal "far superior" for Family Dollar (FDO) shareholders. Believes company can manage Family Dollar "more efficiently and effectively." Sees approximately $300M-$400M in one-time costs to capture synergies. Sees investment of $400M in CapEx. Says proposed deal would be low double digit percentage accretive in year one, ex-integration and transformation costs. Dollar General notes commitment to return to investment grade credit profile, anticipated three years post closing. Says positioned for long term revenue and earnings growth. Says ready to move to complete due diligence on Family Dollar deal. Says synergies expected to ramp up throughout three-year period. Comments made on Dollar General's conference call discussing its acquisition proposal of Family Dollar for $78.50 per share.
06:27 EDTFDODollar General to host conference call
Conference call to discuss acquisition proposal of Family Dollar will be held on August 18 at 8 am. Webcast Link
06:24 EDTFDOOptions expected to be active
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06:13 EDTFDODollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:10 EDTFDODollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:03 EDTFDODollar General makes $78.50/share offer for Family Dollar, CNBC reports
Dollar General (DG) will announce today a $78.50 per share in cash offer to acquire Family Dollar (FDO), CNBC's Andrew Ross Sorkin reports. Dollar Tree (DLTR) is seeking to buy Family Dollar for $74.50 per share.
06:00 EDTFDODollar General offers to buy Family Dollar for $78.50/share, CNBC reports
August 14, 2014
17:16 EDTFDOPaulson & Co gives quarterly update on stakes
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