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Stock Market & Financial Investment News

News Breaks
May 22, 2014
07:31 EDTUNFIUnited Natural Foods to acquire Tony's Fine Foods for approx. $195.3M
United Natural Foods announced that it had entered into a definitive agreement to acquire all of the stock of Tony’s Fine Foods, a distributor of perishable food products including a wide array of specialty protein, cheese, deli, food service and bakery goods throughout the Western United States, as well as Alaska and Hawaii. Founded in 1934 by the Ingoglia family, Tony’s products are sold primarily to retail and specialty grocers, food service customers and other distribution companies. The total purchase price for the acquisition of the business and related real estate is expected to be approximately $195.3M, subject to certain post-closing adjustments, and will consist of approximately $187.8M in cash and approximately 112,000 shares of the company’s common stock. The shareholders of Tony’s will utilize a portion of the proceeds to pay off all of Tony’s’ existing indebtedness as of the closing. The company expects to finance the cash portion of the purchase price with a combination of available cash and borrowings under its revolving credit facility, which it amended yesterday to, among other things, increase the aggregate amount of availability by $100M. A portion of the borrowings under the revolving credit facility are expected to be refinanced into an approximately $150M real-estate backed term loan facility that the company anticipates it will enter into in 4Q114 or 1Q15.
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August 26, 2014
09:51 EDTUNFIOn The Fly: Analyst Initiation Summary
Cray (CRAY) initiated with a Buy at Stifel... Enphase Energy (ENPH) initiated with a Buy at Needham... FCB Financial (FCB) initiated with a Buy at UBS... FCB Financial initiated with an Overweight at JPMorgan... Goldman Sachs (GS) initiated with a Buy at MKM Partners... HealthEquity (HQY) initiated with a Neutral at RW Bair... Mobileye (MBLY) initiated with a Buy at Deutsche Bank... Mobileye initiated with a Neutral at Goldman... Mobileye initiated with a Neutral at RW Baird... Mobileye initiated with an Overweight at Barclays... RAIT Financial (RAS) initiated with an Outperform at JMP Securities... SunEdison (SUNE) initiated with an Outperform at FBR Capital... Mobileye initiated with an Outperform at Raymond James... Transocean Partners (RIG) initiated with an Overweight at Morgan Stanley... GT Advanced (GTAT) coverage resumed with an Overweight at Piper Jaffray... LinkedIn (LNKD) initiated with an Overweight at First Analysis... CSC (CSC) initiated with a Sector Perform at RBC Capital... United Natural Foods (UNFI) initiated with an Overweight at Stephens.
09:03 EDTUNFIUnited Natural Foods initiated with an Overweight at Stephens
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