Some of the names on the move ahead of the open.» Read More
May 16- Darden Restaurants Inc said it would sell Red Lobster to private equity firm Golden Gate Capital for $2.1 billion in cash, defying activist investors who opposed plans to shed the struggling seafood chain.
Take a look at some of Friday's midday movers:
U.S. stock index futures erased their early gains Friday following a better-than-expected housing starts report.
May 16- Darden Restaurants Inc said it agreed to sell its struggling Red Lobster seafood chain to Golden Gate Capital for $2.1 billion in cash. The company said it expects net cash proceeds of about $1.6 billion, of which about $1 billion would be used to retire debt. The remainder would be used to buy back up to $700 million of shares in fiscal 2015, Darden said.
Darden Restaurants on Friday said it agreed to sell its struggling Red Lobster restaurant chain to Golden Gate Capital for $2.1 billion.
May 14- Activist investor Starboard Value LP accused Darden Restaurants Inc of trying to disenfranchise shareholders by delaying holding a special meeting to vote on a proposal to halt plans to spin off or sell its struggling Red Lobster seafood chain.
Investors are circling in on seven big-name stocks that have been shrinking profits for six straight quarters. Some names may surprise you.
April 22- Darden Restaurant Inc will have to call a shareholder meeting to vote on Starboard Value LP's proposal to delay the company's plan to spin off its struggling Red Lobster chain, after the activist investor secured the support of a majority of the company's shareholders.
April 22- Darden Restaurant Inc has 60 days to call a shareholder meeting to vote on activist investor Starboard Value LP's proposal to delay the company's plan to spin off its struggling Red Lobster chain, CNBC reported.
April 22- Activist investor Starboard Value LP has got consent from 54 percent of Darden Restaurant Inc's shareholders to hold a special meeting to vote on a proposal to delay the company from spinning off its Red Lobster chain, CNBC reported, citing sources.
Hedge fund Starboard Value on Tuesday won consent from 54 percent of Darden shareholders to call a special meeting, sources told CNBC.
Of the 21 S&P companies that have already reported Q1 earnings, nearly half have cited the negative impact of the weather.
LONDON, April 3- Kuwait's billionaire al-Kharafi family is looking to sell Americana, one of the Middle East's largest food companies, and has hired bankers to explore a deal, four sources familiar with the matter told Reuters.
Take a look at some of Tuesday's midday movers:
Some of Wednesday's midday movers:
March 26- Activist investor Barington Capital Group LP urged Darden Restaurants Inc to consider looking for a new chief executive, stepping up pressure on the restaurant operator to come up with ways to improve its performance.
March 26- Darden Restaurants Inc shareholder Barington Capital asked the company to find a new chief executive and appoint an independent chairman. The hedge fund and Starboard Value LLP have opposed Darden's plan to spin off its Red Lobster restaurant chain and have asked that the plan be put to a shareholder vote.
U.S. stocks fell on Friday as investors considered Ukraine ahead of the weekend.
*Nike shares fall after results. Biogen Idec Inc, down 8.2 percent at $318.53, and Gilead Sciences Inc, down 4.6 percent at $72.07, were the two biggest drags on the S&P 500. The Nasdaq biotech index fell 4.4 percent.
*Nike shares fall after results, Tiffany rises. Biogen Idec Inc, down 8 percent to $319.14, and Gilead Sciences Inc, down 3.7 percent to $72.74, were the biggest drags on the S&P 500. The Nasdaq biotech index fell 3.5 percent.