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News For SFD From The Last 14 Days Check below for free stories on SFD the last two weeks. |
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| June 19, 2013 |
| 06:01 EDT |  | SFD | Stocks with implied volatility below IV index mean; TIVO SFD
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| June 18, 2013 |
| 11:47 EDT |  | SFD | Hormel Foods falls after lowering profit outlook
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| 06:04 EDT | | SFD | Stocks with implied volatility below IV index mean; TIVO SFD
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| June 17, 2013 |
| 17:37 EDT |  | SFD | Smithfield Foods to review Starboard letter, WSJ says
In a statement Monday, Smithfield Foods said it will review the Starboard letter that encourages a breakup instead of the planned takeover by Shuanghui International Holdings, says the Wall Street Journal. Smithfield said it continues to believe the proposed merger is in the best interests of the company and its shareholders, added the Wall Street Journal. Reference Link |
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| 12:29 EDT |  | SFD | On The Fly: Midday Wrap
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| 09:18 EDT | | SFD | Starboard says Smithfield could be worth $44-$55 if sold in parts
Starboard Value disclosed a 5.7% stake in Smithfield Foods and said it delivered a letter to the company's board. Starboard noted that its research indicated that the sum-of-the parts value of the Smithfield's operating divisions, which include Hog Production, International, and Pork, was well in excess of the then-current trading price of the company and that a separation of these businesses "was entirely feasible and could be accomplished without significant tax leakage." Starboard also expressed its belief that there are several likely strategic acquirers for each of the divisions. Starboard stated that it believes the proposed merger with Shuanghui "goes a long way towards closing the gap between the pre-deal market value of the Issuer and the intrinsic value of the business," yet the investor believes the merger "still significantly understates a conservative sum-of-the-parts valuation of the Issuer, which Starboard estimates to be worth between $9 billion and $10.8 billion after tax, or approximately $44 to $55 per share." Starboard told the board that Smithfield could be worth well in excess of the $34.00 per share Shuanghui is paying if it fully shopped its operating divisions to all potentially interested parties. |
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| 09:12 EDT | | SFD | Starboard confirms 5.7% Smithfield stake, estimates $44-$55 share value
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| 08:43 EDT | | SFD | Starboard says talking to interested buyers of Smithfield units
Starboard Value CEO Jeffrey Smith is speaking on CNBC. The fund owns a 5.7% stake in Smithfield Foods. |
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| 08:41 EDT | | SFD | Starboard says parties interested in parts of Smithfield Foods
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| 08:29 EDT | | SFD | Pilgrim's Pride volatility increases on Smithfield Food sale to Shuanghui
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| 07:38 EDT | | SFD | Smithfield Foods volatility low into Starboard Value wants company breakup
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| 07:10 EDT | | SFD | Smithfield Foods investor Starboard Value wants company breakup, WSJ reports
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| 07:04 EDT | | SFD | Smithfield Foods sends letter to Smithfield board expressing views on valuation
Starboard Value delivered a letter to the board of Smithfield: "We fully understand that under the Merger Agreement, Smithfield is contractually prohibited from seeking superior offers for the Company or from contacting third parties who may be interested in acquiring certain of the Company's operating divisions. In light of this limitation, Starboard is seeking to identify and connect any strategic or financial buyers for the Company's individual business units to determine if it would be possible to structure a sum-of-the-parts transaction that could deliver greater value for shareholders than the Proposed Merger. We hope that our efforts will lead to the submission of a Superior Proposal under the terms of the Merger Agreement... We believe the Proposed Merger goes a long way towards closing the gap between the pre-deal market value of Smithfield and the intrinsic value of the business. However, we believe the Proposed Merger still significantly understates a conservative sum-of-the-parts valuation of the Company, which we estimate to be worth between $9 billion and $10.8 billion after tax, or approximately $44 to $55 per share, representing an approximate 29%-62% premium to the $34 per share Shuanghui deal." |
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| 06:14 EDT | | SFD | On the Fly: Periodicals Wrap-Up
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| 05:54 EDT | | SFD | Stocks with implied volatility below IV index mean; MBI SFD
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| 05:51 EDT | | SFD | Stocks with implied volatility movement; SFD AGNC
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| June 14, 2013 |
| 11:29 EDT |  | SFD | Smithfield Foods downgraded to Neutral from Buy at DA Davidson
DA Davidson downgraded Smithfield citing the acquisition by Shuanghui International for $34 per share. |
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| 08:38 EDT | | SFD | Smithfield Foods to discontinue conference calls
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| 08:34 EDT | | SFD | Smithfield Foods continues strategic growth plan
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| 08:32 EDT | | SFD | Smithfield Foods reports Q4 EPS 21c, consensus 43c
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| June 13, 2013 |
| 15:25 EDT |  | SFD | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Smithfield Foods (SFD), consensus 43c; NGL Energy Partners (NGL), consensus $1.03. |
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| 10:05 EDT | | SFD | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AngloGold (AU) downgraded to Sell from Hold at Societe Generale... Banco Santander (SAN) downgraded to Underweight from Neutral at JPMorgan... Cosi (COSI) downgraded to Neutral from Buy at Roth Capital... Randgold Resources (GOLD) downgraded to Hold from Buy at Societe Generale... Republic Services (RSG) downgraded to Buy from Conviction Buy at Goldman... Royal Bank of Scotland (RBS) downgraded to Sell from Hold at Deutsche Bank... Safeway (SWY) downgraded to Neutral from Buy at Citigroup... Smithfield Foods (SFD) downgraded to Neutral from Buy at Davenport... Vantage Drilling (VTG) downgraded to Market Perform from Outperform at Wells Fargo... Waste Management (WM) downgraded to Neutral from Buy at Goldman... Lexington Realty (LXP) downgraded to Underweight from Hold at KeyBanc... EPR Properties (EPR) downgraded to Underweight from Hold at KeyBancMedical Properties Trust (MPW) downgraded to Underweight from Hold at KeyBanc... Ventas (VTR) downgraded to Underweight from Hold at KeyBanc... Health Care REIT (HCN) downgraded to Hold from Buy at KeyBanc... StellarOne (STEL) downgraded to Market Perform from Strong Buy at Raymond James... Polypore (PPO) downgraded to Hold from Buy at Topeka. |
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| 06:36 EDT | | SFD | Smithfield Foods downgraded to Neutral from Buy at Davenport
Davenport believes there is a reduced likelihood Smithfield will see additional bids. |
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| 05:58 EDT | | SFD | Stocks with implied volatility below IV index mean; SFD DOLE
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| 05:57 EDT | | SFD | Stocks with implied volatility below IV index mean; SFD DOLE
Stocks with implied volatility below IV index mean; Smithfield Foods (SFD), Dole Food (DOLE) according to IVolatility. |
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| June 12, 2013 |
| 06:07 EDT | | SFD | Stocks with implied volatility below IV index mean; SFD DOLE
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| June 11, 2013 |
| 13:34 EDT | | SFD | Options with increasing implied volatility: EBIX LIFE SFD
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| June 9, 2013 |
| 14:45 EDT | | SFD | Shuanghui's Smithfield deal may be hampered by Midwest land laws, Reuters says
Laws that disallow foreign ownership of farmland in Iowa, Missouri and at least three other Midwest states may be a problem for Shuanghui's $4.7B planned purchase of U.S. pork producer Smithfield Foods, says Reuters. Reference Link |
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| June 7, 2013 |
| 07:09 EDT | | SFD | Tyson Foods CEO: Smithfield deal could help our pork exports, WSJ reports
Tyson Foods (TSN) CEO Donnie Smith said the planned sale of rival Smithfield Foods (SFD) to China's largest pork processor highlights the intensifying globalization of the agriculture industry and could help increase Tyson's pork exports to the Asian nation along with Smithfield's, reports the Wall Street Journal.Reference Link |
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| 06:10 EDT | | SFD | On the Fly: Periodicals Wrap-Up
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| 06:03 EDT | | SFD | Stocks with implied volatility below IV index mean; SFD MBI
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| June 5, 2013 |
| 11:16 EDT | | SFD | Senator expresses concerns over Smithfield Foods buyout
Senator Debbie Stabenow, Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, said in statement she has concerns regarding the proposed acquisition of Smithfield Foods by Shuanghui International. The statement read in part, "American consumers have long been able to trust the food they buy in the supermarket. The U.S. produces the safest, most affordable food in the world because of the high standard to which we hold our food producers. I am concerned about Shuanghui International’s possible purchase of Smithfield Foods and the implications it could have on food safety for American consumers. The agencies responsible for approving this possible merger must take China’s and Shuanghui’s troubling track record on food safety into account, and do everything in their power to ensure our national security and the health of our families is not jeopardized." Just two years ago, Shuanghui International admitted to putting illegal additives in its food products, she noted. Shuanghui is seeking to acquire Smithfield for $34 per share. |
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| 11:11 EDT | | SFD | Senator Stabenow says 'concerned' about Smithfield takeover
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| 06:18 EDT | | SFD | Smithfield Food executives to receive $48M in retention bonuses, Bloomberg says
Smithfield Foods executives and other “key” employees are set to get paid $47.9M in retention bonuses following the hog producer’s acquisition by Shuanghui International Holdings, reports Bloomberg. Reference Link |
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