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Stock Market & Financial Investment News

News Breaks
June 1, 2014
19:57 EDTPF, HSHPinnacle Foods looks like a bargain even if Hillshire terminates, Barron's says
Pinnacle Foods (PF) looks like a bargain, trading at 15% below the Hillshire Brands (HSH) bid for the company, and if the Hillshire proposal is dropped, Pinnacle will be paid a $163M termination fee, Barron's argues in a follow up article. Reference Link
News For PF;HSH From The Last 14 Days
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September 9, 2014
09:16 EDTPFPinnacle Foods 15M share Spot Secondary priced at $32.30
The deal range was $32.20-$32.40. Credit Suisse and Morgan Stanley acted as joint book running managers for the offering.
09:12 EDTPFOn The Fly: Pre-market Movers
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September 8, 2014
18:31 EDTPFOn The Fly: After Hours Movers
UP AFTER EARNINGS: Casey's General Stores (CASY), up 3.6%... Korn/Ferry (KFY), up 2.8%. ALSO HIGHER: Annies (BNNY), up 37.3% after General Mills (GIS) announced it will acquire the company for $46 per share... General Mills is trading just under 1% higher... Following the Annies/General Mills announcement, Hain Celestial Group (HAIN) is 3.6% higher, WhiteWave Foods (WWAV) is up 6.3%, and Boulder Brands (BDBD) is up 8.7%... iPass (IPAS), up 35.1% after announcing that it is exploring strategic alternatives... CTI BioPharma (CTIC), up 8.1% after being initiated with an Overweight at Piper Jaffray... Threshold Pharmaceuticals (THLD), up 5% after being initiated with a Buy at Cantor. DOWN AFTER EARNINGS: Pep Boys (PBY), down 6.7% following second quarter miss. ALSO LOWER: Pinnacle Foods (PF), down 3.7% after filing an automatic common stock shelf and announcing the sale of 15M shares of common stock for holders... Physicians Realty Trust (DOC), down 4.9% after offering 9M common shares.
16:53 EDTPFPinnacle Foods files to sell 15M shares of common stock for holders
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16:40 EDTPFPinnacle Foods files automatic common stock shelf
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September 4, 2014
11:34 EDTPFPinnacle Foods says pricing remains 'difficult'
Says weak consumer, demand environment pressuring volume. Says promotion intensity and reduce efficiency is driving higher trade spending and lower gross margins. Says pricing remains difficult, while near-term inflation expectations have increased. The company feels that future accretive acquisitions would accelerate growth. For its foundation brands, Pinnacle is focused on maintaining stable sales, market position and cash flow. For its leadership brands, the company aims to invest in marketing to drive growth and share expansion. In regards to its Wish-Bone acquisition, the company says that it is immediately accretive and is anticipating a run rate EBITDAS of $65M, including synergies due to the purchase. Says In-house production on track for 1Q15. Says NOLs is expected to significantly reduce cash taxes through FY15, with additional benefits in FY15 and beyond. Expects $14M of Wish-Bone amortization in FY16. Expects NOL tax benefit of $6M in FY16. Expects total cash tax benefit $28M in FY16.
11:33 EDTPFPinnacle Foods reaffirms FY14 EPS $1.70-$1.75, consensus $1.74
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