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Benzinga’s Top Upgrades (TSN, HK, IGT, BAS, TK)
Friday, January 22, 2010 - 10:27am | 290Tyson Foods, Inc. (NYSE: TSN) was today upgraded by BB&T Capital Markets from Hold to Buy with a price target of $17. Tyson Foods is now trading at $13.85, 1.47% up in the pre-market session. TSN closed at $13.65 in the previous trading session. In the last year, TSN has gained over 55%....
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Counterbid for Cadbury By Hershey Unlikely (CBY, HSY, KFT)
Friday, January 22, 2010 - 8:32am | 112Buying Cadbury has been the headline in the M&A sector for a while now. Recently, Cadbury has accepted a bid from Kraft. A report in Reuters indicates that Hershey Co. (NYSE: HSY), the well known US chocolate company, has taken a decision not to bid for Cadbury Plc (NYSE: CBY). This followed a...
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Market Round-up (HSY, CBY, KFT, BRK.B, MSFT, AMZN, ERTS, GOOG, NOK, WPO)
Thursday, January 21, 2010 - 2:36pm | 397Hershey (NYSE: HSY) yesterday decided at a board meeting that it will not fight for the takeover of Cadbury (NYSE: CBY) after the British confectioner accepted the bid from Kraft (NYSE: KFT). Read more about this company here. Berkshire Hathaway (NYSE: BRK.B) has split its Class B shares 50-to-1....
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Stock Market News for January 21, 2010 - Market News
Thursday, January 21, 2010 - 10:26am | 554Disappointing earnings reports in the U.S. and concerns that a tighter lending in China would hurt the global economic recovery led to a broad sell-off on the Street Wednesday. A stronger dollar hurt commodities, sending energy and material companies lower. Investors also had their focus on an...
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Pound (GBP) Climbs On Prospect Of Rate Rise
Wednesday, January 20, 2010 - 8:25pm | 424Sterling hit a four-month high against the euro and was among the few currencies to rise against the dollar on Tuesday after UK inflation jumped in December and increased the possibility of monetary tightening being brought forward. Consumer price inflation rose to an annualised 2.9 per cent from 1...
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Fitch Lowers Ratings On Kraft
Wednesday, January 20, 2010 - 2:57pm | 102Fitch lowered its ratings on Kraft (NYSE: KFT) following the company's $19.5 billion purchase of rival Cadbury (NYSE: CBY). Fitch lowered Kraft's issuer default rating, senior unsecured debt and credit facility rating to ''BBB-'' from ''BBB,'' citing the increased leverage of the combined company....
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Smithfield Foods Inc. Closing Hog-processing Plant
Wednesday, January 20, 2010 - 10:44am | 93Smithfield Foods Inc. (NYSE: SFD) said Wednesday that its John Morrell & Co. unit is planning to close its hog-processing and fresh meat fabrication plant in Sioux City, Iowa on April 20. The meat producer said that the plant employs 1,500 people and has the capacity to slaughter 14,000 hogs a...
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Company News for January 20, 2010 - Corporate Summary
Wednesday, January 20, 2010 - 10:26am | 208• Bank of America (NYSE:BAC) reported a larger-than-expected fourth quarter loss of 60 cents a share ahead of Zacks expectations of 54 cents a share versus a 48 cents year-ago loss. Revenues rose 59%, helped by the Merrill acquisition, to $25.4 billion. Increased credit costs, lower net income...
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Stock Market News for January 20, 2010 - Market News
Wednesday, January 20, 2010 - 10:23am | 492U.S. stocks rebounded Tuesday, with healthcare shares leading the charge as speculation grew results of an election in Massachusetts would make the passage of the healthcare bill difficult. Technology shares also rallied ahead of bellwether IBM’s earnings. If Democrats fail to win the seat of...
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Loss Of Cadbury May Hit Hershey’s Market Share (CBY, HSY, KFT, GBL)
Wednesday, January 20, 2010 - 9:21am | 185Hershey Co.’s (NYSE: HSY) third failed effort to merge with Cadbury Plc (NYSE: CBY) in eight years may leave the U.S. chocolate maker and the charitable trust that controls it grappling to retain investors and market share. Kraft Foods Inc. (NYSE: KFT) said yesterday its 11.9 billion-pound ($19.5...
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News Round-up (KFT, CBY, GS, CVX, COP, TOT, PFE, TEVA)
Tuesday, January 19, 2010 - 3:38pm | 403Moody's Ratings said that Kraft Foods (NYSE: KFT) continues to deserve the investment grade rating. Moody’s statement comes after KFT's acquisition of Cadbury (NYSE: CBY) for $19.4 billion. Read more about KFT here. Goldman Sachs (NYSE: GS) has delayed the announcement of its 2009 employee bonuses...
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Morgan Stanley Closes Campbell Soup Company Research Tactical Idea
Tuesday, January 19, 2010 - 12:48pm | 110Morgan Stanley Research (NYSE: MS) closed the Tactical Idea it released on January 7, 2010 because the stock price of Campbell Soup Company (NYSE: CPB) had moved according to Morgan Stanley's expectations. The Tactical Idea followed the release of the negative soup scanner data earlier the same day...
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US Stock Futures Do Not Point To A Bright Day For Wall Street
Tuesday, January 19, 2010 - 10:26am | 225After a long weekend, the day for futures on the US stock index started weak today, with traders returning to a slew of earnings and merger announcements. While shares of Kraft Foods Inc (NYSE: KFT) slipped 2.77% in pre-market trading after the company’s acquisition offer was accepted by UK candy...
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Company News for January 19, 2010 - Corporate Summary
Tuesday, January 19, 2010 - 10:07am | 305• After months of wrangling over price, Kraft (NYSE:KFT) raised its bid to $19.5 billion and Cadbury’s (NYSE:CBY) board recommended its acceptance • Tyco (NYSE:TYC) plans to buy Brink's Home Security (NYSE:CFL) for $2 billion, with Tyco paying $42.50 in cash and stock • Tyco (NYSE:TYC) yesterday...
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Kraft’s $19.7 Billion Offer Accepted By Cadbury Board (KFT, CBY, HSY)
Tuesday, January 19, 2010 - 7:21am | 176Bloomberg reports that Cadbury Plc’s (NYSE: CBY) board has agreed to an 11.9 billion-pound ($19.7 billion) takeover offer from Kraft Foods Inc. (NYSE: KFT), ending more than four months of resistance after the U.S. company raised its bid. Cadbury investors are due to get 840 pence a share,...