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Stock Market & Financial Investment News

News Breaks
April 2, 2014
10:24 EDTROVI, OMC, LQDT, DLLR, DGHigh option volume stocks: ROVI OMC LQDT DLLR DG
News For ROVI;OMC;LQDT;DLLR;DG From The Last 14 Days
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July 28, 2014
15:00 EDTLQDTIronPlanet awarded contract for DoD rolling stock surplus
IronPlanet announced that it was awarded the U.S. Defense Logistics Agency contract to manage and sell rolling stock surplus assets of the U.S. Department of Defense. The DLA issued the final contract award to IronPlanet on July 25, pursuant to a competitive bid process that was held on April 1. Bids for the Surplus Contract were based on a percentage of the sales price of the items that bidders will share with the DLA. IronPlanet estimates $50M-$70M of rolling stock annually, and its bid was equal to 75.29% revenue share to the DLA. The Surplus Contract has a base term of two years with four one-year renewal options. Following the bid process, Liquidity Services (LQDT) filed a bid protest with the Government Accountability Office. This protest and supplemental protests filed were denied by the GAO on July 23. Rolling stock includes surplus trucks, trailers, generators, wheel loaders, cranes, crawler tractors, and other equipment. While Surplus Contract volume will begin to flow to IronPlanet in the third quarter of 2014, the contract is scheduled to fully commence late 2014 into 2015. “We are very pleased and excited to be officially awarded this contract, and to partner with the Defense Logistics Agency. We have already begun moving forward leveraging our existing infrastructure and resources to build the dedicated capabilities necessary to maximize the returns for the U.S. Department of Defense, and ultimately the U.S. taxpayer, in selling their surplus rolling stock assets,” said Greg Owens, CEO, IronPlanet.
14:45 EDTDGFamily Dollar bid as high as $87 could make sense, Reuters says
The relatively low level of cost savings synergies identified by Family Dollar (FDO) and Dollar Tree (DLTR) may leave room for another suitor, such as Dollar General (DG), to step in with a higher bid that would still make financial sense, according to Reuters Breakingviews columnist Kevin Allison. If an alternate buyer could find $500M of annual savings, that would justify paying roughly $87 per share, or about double the current premium, for Family Dollar, Allison calculates. Reference Link
13:23 EDTDGIcahn 'pleased' with Family Dollar deal, 'hopeful' alternate deal may surface
Carl Icahn released the following statement regarding Family Dollar Stores (FDO): "While we continue 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 as a result of today’s announcement, we are extremely pleased with Dollar Tree’s (DLTR) intention to acquire Family Dollar in a transaction that values the company at $74.50 per share. This is a big win for all shareholders of Family Dollar and yet another validation of the activist investment philosophy in general." Another company in the space, Dollar General (DG), has previously been speculated as an alternative partner for Family Dollar and Wal-Mart (WMT) is seen as a competitor to dollar store operators.
12:21 EDTDGOn The Fly: Midday Wrap
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11:39 EDTDGWells says potential for competing Family Dollar bid an unknown
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10:24 EDTDGFamily Dollar, Dollar Tree advance after agreeing to combine
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10:02 EDTDG, OMCOn The Fly: Analyst Initiation Summary
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09:50 EDTDGActive equity options trading on open
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09:17 EDTDGOn The Fly: Pre-market Movers
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09:17 EDTDGDollar General initiated with a Hold at Argus
09:10 EDTDGDollar Tree to benefit from Family Dollar deal, says Sterne Agee
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09:05 EDTDGDollar General 'fully aware" of Family Dollar buyout, CNBC reports
Dollar General (DG) was "fully aware" of Family Dollar buyout process by Dollar Tree (DLTR), CNBC's David Faber reports. Shares of Dollar General are down 4% to $53.40 following news of the Dollar Tree, Family Tree merger.
06:19 EDTOMCOmnicom initiated with a Sell at Citigroup
Citigroup started shares of Omnicom with a Sell rating citing slowing organic growth and its belief margin expansion will be difficult. The firm set a $68 price target for the stock.
July 24, 2014
11:09 EDTOMCElliott to call on Interpublic to sell to rival, DealBook says
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July 22, 2014
06:52 EDTOMCOmnicom reports Q2 EPS$1.23, consensus $1.17
Reports Q2 revenue $3.87B, consensus $3.8B. Q2 results include $1.8M of pre-tax charges in connection with the proposed merger with Publicis, which are primarily comprised of professional fees. In addition, the effective tax rate for the second quarter reflects the recognition of an income tax benefit of $11.2M related to previously incurred expenses for the proposed merger with Publicis. On May 8, the proposed merger with Publicis was terminated. Prior to the termination of the merger, the majority of the merger costs were capitalized for income tax purposes and the related tax benefits were not recorded. Because the merger was terminated, the merger costs were no longer required to be capitalized for income tax purposes. The net impact of these items on net income available to common shareholders in the second quarter was $9.2M. The impact on diluted EPS was 3c per common share.
06:19 EDTOMCPublicis says might miss FY sales growth target, WSJ reports
Maurice Levy, the CEO of Publicis, says the company may not be able to achieve its FY sales growth target of 4% or more organic revenue growth, the Wall Street Journal reports. Levy says the group's performance has been affected by teams "at times being distracted" by plans to merge with Omnicom (OMC). Publicis and Omnicom called off their proposed $35B merger in May. Reference Link
July 21, 2014
16:00 EDTDGOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
13:23 EDTDGHigh option volume stocks: RFMD LCI MR PII DG CTRL
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08:11 EDTOMCOmnicom's DAS Group of Companies acquires minority interest in InPress
July 17, 2014
11:00 EDTOMCHigh option volume stocks
High option volume stocks: OMC FXC TSEM JRJC MAT MTG PRAN SEAS BURL
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