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Unexpected Earthquake Rocks the East Coast
Tuesday, August 23, 2011 - 3:38pm | 448Residents and employees throughout Washington DC and eastern Virginia experienced one of the scariest things in their lifetimes. A 5.9 magnitude earthquake with an epicenter about 87 miles southwest of DC occurred in the afternoon. Citizens dropped everything and had to evacuate their buildings...
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Zings Of The Day, August 23, 2011
Tuesday, August 23, 2011 - 3:38pm | 105UBS AG (NYSE: UBS) said it will cut 3,500 jobs to save 2 billion Swiss francs ($2.5 billion) in annual costs. It will then funnel those savings to tax evaders. So in other words, nothing new. H.J. Heinz Co. (NYSE: HNZ) shares fell today after the company repeated its forecast for full-year...
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Bunge Responds to Syngenta Suit
Tuesday, August 23, 2011 - 10:45am | 290Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), issued the following statement which can be attributed to Soren Schroder, Bunge North America president and CEO. "Bunge North America is aware from press reports of Syngenta's allegations. From what we know and...
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Market Update
Tuesday, August 23, 2011 - 9:33am | 179Shares of PharMerica Corp (NYSE: PMC) jumped about 34.8% after Omnicare Inc (NYSE: OCR) offered to buy PharMerica for $441 million in cash. The offer of $15 per share represents a 37% premium to PharMerica's closing price on Monday. The transaction will be worth around $716 million, including...
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Reed's Expands Distribution Into Total Wine & More Stores
Tuesday, August 23, 2011 - 9:15am | 80Reed's, Inc. (NASDAQ: REED) announced today that it has gained distribution authorization for all Total Wine & More stores in the US for both Reed's and Virgil's. Total Wine & More is the largest independent fine wine retailer in the country and is the only major fine wine company to...
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Citigroup Maintains Buy Rating On HJ Heinz Following F1Q12 Beat
Tuesday, August 23, 2011 - 9:08am | 110Citigroup has published a research report on HJ Heinz (NYSE: HNZ) after the company reported sales growth that exceeded expectations for the quarter. In the report, Citigroup writes, "Heinz produced F1Q12 EPS of 78c versus consensus estimates of 75c and year ago earnings which also came in at 75c...
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Earnings Roundup
Tuesday, August 23, 2011 - 9:03am | 1170H.J. Heinz Co (NYSE: HNZ) reported a decline in its fiscal first-quarter profit. Heinz's quarterly profit dropped to $226.1 million, or $0.70 per share, from $240.4 million, or $0.76 per share, in the year-earlier period. Its sales climbed to $2.85 billion from $2.48 billion. Excluding special...
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Bank of America Reviews Earnings at H.J. Heinz Company
Tuesday, August 23, 2011 - 8:48am | 111Bank of America has published a research report on H.J. Heinz Company (NYSE: HNZ) reviewing earnings at the company. In the report, Bank of America wrote, "HNZ reported 1Q results this morning. Comparable EPS was $0.78 versus our $0.75 forecast and $0.76 consensus. Results were mixed. Positives...
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Castle Brands Announces New $5 Million Revolving Credit Facility with Keltic Financial
Tuesday, August 23, 2011 - 8:05am | 114Castle Brands Inc. (NYSE: ROX) today announced the establishment of a revolving credit facility with Keltic Financial Partners II, LP. The asset-based credit facility provides for borrowings up to $5.0 million for working capital requirements and other general corporate purposes. In connection...
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Agria Appoints Wah Kwong Tsang to Board of Directors
Tuesday, August 23, 2011 - 7:58am | 128Agria Corporation (NYSE: GRO) today announced the appointment of Wah Kwong Tsang to Agria's board of directors. Tsang will serve as an independent director and Chairman of the Audit Committee and member of Compensation Committee. Kenneth DeWoskin, who has served as Agria's Audit Committee Chairman...
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Financial Breakfast: Morning News Summary for August 23, 2011
Tuesday, August 23, 2011 - 7:47am | 690This is your Benzinga news summary and traders' outlook for Tuesday, August 23, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S equity futures are trading higher. At last check, Dow futures are up about 100 points and the U.S....
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UPDATE: Heinz Reports Drop In FQ1 Profit
Tuesday, August 23, 2011 - 7:44am | 90H.J. Heinz Co (NYSE: HNZ) reported a decline in its fiscal first-quarter profit. Heinz's quarterly profit dropped to $226.1 million, or $0.70 per share, from $240.4 million, or $0.76 per share, in the year-earlier period. Its sales climbed to $2.85 billion from $2.48 billion. Excluding special...
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Benzinga's Top Upgrades
Tuesday, August 23, 2011 - 7:31am | 137Analysts at Jefferies & Company upgraded Aetna Inc (NYSE: AET) from “hold” to “buy.” Aetna's shares closed at $35.23 yesterday. Aetna's PEG ratio is 0.67. Analysts at Bank of America upgraded US Airways Group Inc (NYSE: LCC) from “neutral” to “buy.” LCC's shares closed at $5.11 yesterday. US...
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Citigroup Lowers PT on CVS, KR, SVU, SWY, WAG
Tuesday, August 23, 2011 - 7:31am | 85Citigroup has lowered price targets on the following companies: CVS Caremark (NYSE: CVS) Buy, PT from $46.00 to $41.00 Kroger (NYSE: KR) Hold, PT from $26.00 to $25.00 SuperValu (NYSE: SVU) Hold. PT from $9.00 to $8.00 Safeway (NYSE: SWY) Hold, PT from $23.00 to $20.00 Walgreen (NYSE: WAG)...
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Kellogg Company and Alliance Data's Epsilon Business Enter Agreement to Enhance CRM Initiatives
Tuesday, August 23, 2011 - 7:31am | 135Kellogg Company (NYSE: K) has partnered with Epsilon, a subsidiary of Alliance Data Systems Corporation (NYSE: ADS) to help enhance Kellogg's CRM activities. Under the terms of the new agreement, Epsilon will build and host a global real-time consumer web portal and preference engine where...