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Stock Market & Financial Investment News

News Breaks
July 10, 2014
12:21 EDTUAL, FDO, TRW, CRAY, PBPB, LLOn The Fly: Midday Wrap
Stocks on Wall Street began the session deep in negative territory and although they have managed recoup some ground, they remain lower. Fears about the health of one of Portugal’s largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The decline in the market marked its biggest drop since May, but the averages have recaptured some of their earlier session losses by midday. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May, and the Bank of England maintained its main bank rate and its stock of purchased assets. COMPANY NEWS: Shares of airline United Continental (UAL) rose nearly 10% after reporting that its consolidated traffic, or revenue passenger miles, was flat year-over-year in June. In a note to investors following the company's update, UBS said it expected United Continental shares to trade higher given its higher than expected PRASM... Family Dollar (FDO) initially fell after reporting third quarter earnings that missed expectations. The dollar store operator stated that its same-store sales were down 1.8% in the period, but noted that its June comparable sales were approximately flat and that it was "encouraged" by its improving trends. Near noon, the stock had recovered and was up nearly 1%. MAJOR MOVERS: Among the notable gainers was supercomputer maker Cray (CRAY), which rallied 14.5% after the company announced it has been awarded a $174M computer deal from the National Nuclear Security Administration. Also higher was TRW Automotive (TRW), which rose nearly 7% before being halted for pending news near noon. Prior to the trading halt, Bloomberg had reported that Germany’s ZF Friedrichshafen has approached TRW about a potential takeover offer, with one source saying that the German company values the U.s. auto parts maker at around $11B-$12B. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged 23% after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was hardwood flooring and accessories retailer Lumber Liquidators (LL), which sunk 21% and was downgraded at both Credit Suisse and Jefferies after the company lowered its outlook for the year. INDEXES: Near midday, the Dow was down 91.13, or 0.54%, to 16,894.48, the Nasdaq was down 23.91, or 0.54%, to 4,395.13, and the S&P 500 was down 8.95, or 0.45%, to 1,963.88.
News For UAL;FDO;TRW;CRAY;PBPB;LL From The Last 14 Days
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October 1, 2014
06:30 EDTUALUnited Continental volatility flat as shares trend lower
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06:06 EDTFDOFamily Dollar says proceeding with plans to be acquired by Dollar Tree
Family Dollar (FDO) said in a memo to its employees yesterday that it is proceeding with its plan to be acquired by Dollar Tree (DLTR), even as Dollar General (DG) seeks to break up the deal and acquire Family Dollar. Family Dollar said it is not planning any changes to its health care, 401(k) and compensation plans. Family Dollar comments, "The immediate focus of our work is to prepare for ‘Day 1,’ (the first day after closing), while simultaneously beginning to build a more detailed plan for the integration. We’re now in the ‘integration planning phase,’ which involves planning for the complex blending of our two organizations."
September 30, 2014
16:33 EDTLLLumber Liquidators promotes Ray Cotton to Chief Compliance and Sustain' Officer
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11:25 EDTUALUnited Continental sees FY14 CASM ex-fuel up 1%-2% y/y
United Continental said it is looking to improve long-term shareholder value by generating ROIC greater than 10%, increasing earnings 2x-4x, growing CASM less than inflation and expanding revenue. Says expects to achieve $2B in annual cost savings by 2017, with ~$300M in non-fuel savings and nearly $200M in fuel savings in 2014. Sees 2015-2017 non-fuel unit costs growing less than inflation. Sees average CapEx of $2.8B-$3B from 2014-2017, expects to achieve $15B gross debt target and improve leverage ratios. Expects to complete $1B share repurchase program within the next three years. Comments from slides that are being presented at the Deutsche Bank Leveraged Finance Conference.
September 29, 2014
11:11 EDTUALFAA steadily up flights arriving, departing Chicago airports after fire
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08:14 EDTFDODollar General buying Dollar Tree 'not impossible,' says FBR Capital
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05:37 EDTCRAYCray awarded $26M supercomputer contract from DoD
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September 26, 2014
18:01 EDTFDOAttorneys general investigating effects of proposed Family Dollar merger
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10:58 EDTUALFire at FAA Chicago facility prompts flight halts, WSJ says
After a fire occurred in the Federal Aviation Administration's primary Chicago air-traffic control facility Aurora Illinois, flights in and out of Chicago's main airports have ceased, according to The Wall Street Journal, citing comments from the FAA. Midway International Airport is a main hub for Southwest (LUV) while United Continental (UAL) operates a hub out of O'Hare International Airport. Reference Link
September 23, 2014
13:08 EDTTRWTRW Automotive signs long term agreement with Daimler Trucks North America
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10:48 EDTUALUnited Continental and DoJ settle discrimination claim for $215K
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09:18 EDTUALCRT Capital believe long-term investors should buy Airlines aggressively
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September 18, 2014
05:47 EDTTRWStocks with implied volatility movement; TRW RSH
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September 17, 2014
17:32 EDTFDODollar General remains committed to acquisition of Family Dollar
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11:11 EDTTRWTRW Automotive downgraded to Neutral from Buy at Sterne Agee
Sterne Agee downgraded TRW Automotive to Neutral following the takeover by ZF Freidrichshafen.
08:28 EDTFDOFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTFDOFamily Dollar board rejects Dollar General's 'illusory' tender offer
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08:08 EDTUALUnited Continental adding 50 E175 aircraft to United Express fleet
United Airlines (UAL) will amend its existing agreement with regional carrier Shuttle America, to add 50 E175 aircraft. Shuttle America's parent company, Republic Airways Holdings (RJET), will determine which of its carriers will operate the new 76-seat aircraft under the United Express brand. United anticipates deliveries will begin in July 2015 and continue through the summer of 2017.
05:22 EDTUALRepublic Airways acquires 50 new Embraer E175 aircraft
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05:20 EDTUALRepublic Airways to expand regional jet operations with United Airlines
Republic Airways (RJET) announced that it has reached an agreement to amend its existing Shuttle America E-Jet capacity purchase agreement, or CPA, with United Airlines (UAL) to add 50 new Embraer 76-seat E175 aircraft. The duration of each aircraft under the E-Jet CPA will be 12 years. As a part of the amendment, Shuttle and United have agreed to extend the duration of the term of the agreement for the existing 38 E170 aircraft, with new expiration dates ranging from September of 2019 through December of 2022. Republic also reached an agreement with United to amend its Q400 CPA allowing for a wind-down schedule beginning in January 2015 and ending in September 2016. Republic Airlines currently operates 31 Q400 aircraft under the Q400 CPA. Republic has entered into a sublease with Flybe Limited, a UK airline, for 24 Q400 aircraft, with deliveries to Flybe coordinated with the removal of the aircraft from United service. The remaining Q400 aircraft will be sold, leased or returned to the lessor after removing them from United service.

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