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Stock Market & Financial Investment News

News Breaks
June 2, 2014
04:55 EDTSYY, SYY, BYI, BYI, VAC, VAC, PNK, PNK, OWW, OWW, H, H, CAR, CAR, DIN, DIN, SEAS, SEAS, FUN, FUN, LQ, LQGoldman to hold a conference
Lodging, Gaming, Restaurant and Leisure Conference to be held in New York on June 2-3.
News For SYY;FUN;SEAS;DIN;CAR;H;OWW;PNK;VAC;BYI;LQ From The Last 14 Days
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June 29, 2015
08:02 EDTSYYSysco terminates merger agreement with US Foods, announces $3B buyback
05:57 EDTHHyatt and Wyndham invest in Airbnb rivals, Financial Times reports
Hyatt (H) was revealed to be among a group of investors to join a fundraising round for Onefinestay, an upmarket competitor to Airbnb, reports the Financial times. According to two people familiar with the matter, Wyndham Hotels (WYN) has also taken a stake in another London-based startup called LoveHomeSway, a subscription service that allows homeowners to swap their homes. Reference Link
June 28, 2015
19:37 EDTSYYU.S. District Court publishes ruling on US Foods-Sysco injunction
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June 25, 2015
16:23 EDTCAROn The Fly: Top stock stories for Thursday
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14:05 EDTSYYStaples, Office Depot shares head lower as analyst highlights merger pitfalls
Shares of Staples (SPLS) and Office Depot (ODP) are in negative territory following a Citi research note identifying significant downside potential if their proposed merger is blocked. The note follows news on June 23 that a U.S. District Court has approved the preliminary injunction of the US Foods-Sysco (SYY) merger. WHAT'S NEW: In the wake of the FTC's preliminary injunction of the US Foods-Sysco deal, Citi's Kate McShane issued a note on the proposed merger of Staples and Office Depot. The FTC is expected to release a public version of its Sysco ruling this Friday, and McShane said details of the injunction could shed light on whether the Staples-Office Depot merger is likely to follow a similar path. The analyst sees a 40% and 49% downside scenario for Staples and Office Depot, respectively, were the merger to fail, versus a 20% upside for Office Depot shares if a successful outcome is reached. WHAT'S NOTABLE: The FTC stated on June 23 that the Sysco-US Foods merger "would lead to higher prices and diminished service," and U.S. District Judge Amit Mehta cited the probability of "substantially" reduced competition. Building on those pieces of information, Kate McShane notes that a merged Staples-Office Depot may only capture 15%-25% of the addressable market, in contrast to the 75% market share of a Sysco and US Foods combination. McShane cautioned that if she limits her analysis to just Fortune 100 companies, the 15%-25% figure would likely be higher, but refrains from stronger speculation on the probability of the deal closing. On June 24, the New York Post cited sources calling the merger "unlikely" after the Sysco injunction. As noted by Citi, if regulator sentiment swings against the office supply companies, shares could head sharply lower. PRICE ACTION: Staples is down 0.4% in afternoon trading, while Office Depot is down 0.3%.
11:35 EDTCARAvis, Hertz slide after Credit Suisse notes pricing challenges
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11:31 EDTCARAvis Budget and Southwest sign multi-year partnership marketing agreement
Avis Budget (CAR) announced that it has entered into an expanded, new multi-year partnership marketing agreement with Southwest Airlines (LUV) which will enable the company to promote Avis Car Rental, Budget Car Rental and Payless Car Rental offers, products and services to Southwest customers. As part of the new agreement, Avis, Budget and Payless will have advertising placement on the Southwest Airlines website as well as merchandising placement throughout the airline reservation process. The car rental brands will also be featured on airline confirmation pages and pre-trip emails to customers.
08:50 EDTSYYStaples has 20% upside if Office Depot deal closes, says Citi
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07:21 EDTCARAvis Budget management to meet with JPMorgan
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June 24, 2015
08:45 EDTSYYSysco risk/reward remains favorable, says Deutsche Bank
Deutsche Bank says the risk/reward is still favorable for Sysco shares after a federal judge ruled against the company's merger with US Foods. The firm believes a "Plan B" could still generate upside for the stock. It lists using the balance sheet to repurchase shares and additional cost savings as alternatives to the merger. Deutsche maintains a Buy rating on Sysco with a $50 price target.
07:23 EDTSYYSysco unlikely to appeal of court ruling, says Jefferies
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07:12 EDTSYYStaples deal unlikely after Sysco-US Foods merger blocked, NY Post reports
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07:09 EDTSYYSysco volatility low into bid for U.S. foods blocked by a federal judge
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07:03 EDTOWWOrbitz offers complimentary TSA PreCheck for top tier rewards members
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06:09 EDTSYYOptions expected to be active
Options expected to be active: NFLX SYY MU MON NKE BBBY LEN NBG GREK
June 23, 2015
19:03 EDTSYYOn The Fly: After Hours Movers
UP AFTER PROVIDING GUIDANCE: MeetMe (MEET), up 18.8%. ALSO HIGHER: Nektar Therapeutics (NKTR), up 4.3% after being added to S&P 600... Quidel (QDEL), up 5% after receiving FDA clearance for new Solana molecular system and assay... Vanda Pharmaceuticals (VNDA), up 4.6% after announcing positive results from REPRIEVE study... Netflix (NFLX), up 3.4% after announcing seven-for-one stock split. LOWER: Alcobra (ADHD), down 2.5% after announcing that it will host a conference call and simultaneous webcast presentation to present results from the Phase II clinical trial of MDX... Sysco (SYY), down 2.6% after bid for U.S. foods blocked was blocked by a federal judge... Boeing (BA), down marginally after announcing CEO transition.
17:37 EDTSYYSysco down 2.63% after bid for U.S. foods blocked by federal judge
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17:35 EDTSYYSysco's $3.5B bid for US Foods blocked by federal judge, Bloomberg says
A federal judge has blocked Syscoís planned $3.5B takeover of US Foods, says Bloomberg. According to the Bloomberg report, the judge said that the merger would most likely reduce competition. The case now goes to the Federal Trade Commissionís administrative court where the regulator will look to block the deal permanently, added Bloomberg. Reference Link
17:25 EDTSYYSysco 'disappointed' FTC granted injunction to block merger with US Foods
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16:58 EDTSYYSysco's $3.5B bid for US Foods blocked by federal judge, Bloomberg says
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