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News Breaks
January 27, 2013
13:21 EDTAPO, FLOMcKee Foods to bid on Hostess's Drake's brand, WSJ says
Maker of Little Debbie snack cakes, McKee Foods, is offering $25M to $30M for Hostess's Drake's brand, which made Devil Dogs, Ring Dings and Yodels before Hostess began liquidating in bankruptcy, says the Wall Street Journal, citing people familiar with the negotiations. Flowers Foods (FLO) has a bid in for five major Hostess bread brands and private equity, including a team compromising the firms Apollo Global Management (APO) and and C. Dean Metropoulos & Co are contending to bid on Hostess' main cake business adds the Wall Street Journal. Reference Link
News For FLO;APO From The Last 14 Days
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November 22, 2015
19:03 EDTAPOCVC, Canadian Pension to acquire Petco for $4.7B, Bloomberg says
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November 15, 2015
19:45 EDTAPOApollo Global, Starwood battling for Travelodge, Sunday Times says
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November 13, 2015
08:13 EDTFLOFlowers Foods pullback a buying opportunity, says Stephens
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November 12, 2015
12:02 EDTFLOOn The Fly: Top stock stories at midday
Stocks on Wall Street opened deep in negative territory but the averages began to pare their losses almost immediately. All eyes and ears were on Fed Chair Janet Yellen, who gave a welcoming speech at a Fed conference, though she did not discuss policy or the economy. Other Fed speakers talked about the lack of inflation as well as interest rate expectations, but their comments so far this morning have failed to clarify expectations for the December meeting. ECONOMIC EVENTS: In the U.S., initial jobless claims were unchanged at 276,000 in the week of November 7, versus expectations for 270,000 first-time claims. The JOLTS report showed job openings rebounded 149,000 to 5.53M in September. In Europe, European Central Bank president Mario Draghi, in remarks delivered in a hearing in the European Parliament, once again signaled that the bank is ready to boost stimulus at its December meeting as warranted. COMPANY NEWS: Shares of Angie's List (ANGI) jumped 12% after Barry Diller's IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, advanced 8% following the revelation of the takeout bid for Angie's List... Department store owner Kohl's (KSS), which was weak yesterday along with virtually every company in the space following Macy's (M) disappointing results, bounced back 6% after its third quarter report topped expectations on both the top and bottom lines... Advance Auto Parts (AAP) sunk 13% after its earnings missed the consensus forecast, its profit guidance was lowered, its CEO announced plans to retire and Starboard's CEO Jeff Smith was appointed to the company's board. MAJOR MOVERS: Among the notable gainers was Eros International (EROS), which rallied more than 8.5% after it called allegations of security laws violations "baseless and misleading." Also higher was Viacom (VIAB), which gained 2.5% after it quarterly earnings came in roughly in-line with consensus estimates. Among the noteworthy losers was Fairmount Santrol (FMSA), which fell 20% after reporting downbeat third quarter earnings and suspending its earnings guidance due to market uncertainty. Also lower was Flower Foods (FLO), which dropped 10% after it reported quarterly earnings and narrowed its fiscal 2015 guidance. INDEXES: Near midday, the Dow was down 147.82, or 0.84%, to 17,554.40, the Nasdaq was down 18.15, or 0.36%, to 5,048.87, and the S&P 500 was down 13.77, or 0.66%, to 2,061.23.
07:06 EDTAPOFunds affiliated with Apollo to acquire RegionalCare Hospital Partners
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05:59 EDTAPOKKR, others expected to bid over $4B for Petco, NY Post reports
Two private equity-led firms -- one with KKR (KKR) and Hellman & Friedman, and the other with CVC Capital and the Canada Pension Plan Investment Board -- are expected to each bid over $4B for Petco Holdings, which operates around 1,300 stores in the U.S., The New York Post reports. Apollo Global (APO) is also expected to bid for the pet supply retailer. Reference Link

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