Discount retailer Dollar Tree raised its sales outlook for the year after recording its strongest growth in quarterly same-store sales since 2011.» Read More
*Family Dollar rejects Dollar General's buyout offer. *Jackson Hole conference of central bankers to begin. Federal Reserve Chair Janet Yellen is scheduled to speak at the Jackson Hole conference on Friday.
Some of Thursday's midday movers:
Aug 21- Family Dollar Stores Inc rejected a $9 billion buyout offer from Dollar General Corp and issued a sharp rebuke to accusations its CEO favors a smaller bid from Dollar Tree Inc because it would allow him to keep his job.
*Family Dollar rejects Dollar General buyout offer. NEW YORK, Aug 21- U.S. stocks inched higher on Thursday and the S&P notched a record high as a flurry of data pointed to steady improvement in the economy and investors awaited the start of a meeting of top central bankers and economists in Jackson Hole, Wyoming.
*Family Dollar rejects Dollar General buyout offer. NEW YORK, Aug 21- U.S. stocks were set for a slightly higher open on Thursday, after jobless claims data pointed to continued improvement in the labor market and before the start of a meeting of top central bankers and economists in Jackson Hole, Wyoming.
Family Dollar Stores said on Thursday its board unanimously rejected Dollar General's buyout offer due to antitrust considerations.
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's $8.95 billion acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
Dollar Tree reported a 2.6 percent fall in quarterly profit as costs increased.
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
Aug 21- Dollar Tree Inc reported a 2.6 percent fall in quarterly profit as costs increased. Net income fell to $121.5 million, or 59 cents per share, in the second quarter ended Aug. 2 from $124.7 million, or $1.25 per share, a year earlier. Dollar Tree, which operates the Dollar Tree, Deal$ and Dollar Bills stores, agreed to buy Family Dollar Stores Inc in July.
Billionaire investor Carl Icahn revealed he owns an 8.5 percent stake in Hertz and plans to pressure the rental car company's management.
Aug 21- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc..
Aug 20- Dollar General Corp said it had expressed an interest in merging with Family Dollar Stores Inc as early as June this year, but did not go ahead with an offer at that time as Family Dollar chief executive gave no indication that the company was in talks with Dollar Tree Inc.
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.
Icahn has pushed Family Dollar to sell itself to Dollar General and has been openly critical of Family Dollar Chief Executive Howard Levine, who would have retained his position after an acquisition by Dollar Tree.
Family Dollar wouldn't have been acquired without his prodding, activist investor Carl Icahn says.
*Dollar General offers to buy Family Dollar. NEW YORK, Aug 18- U.S. stocks surged on Monday, with the Nasdaq closing at a 14- year high as increasing homebuilder confidence and hopes for receding tensions in Russia gave investors reasons to make bigger bets on the equity market.
Stocks rose on Monday as Ukraine and Russia talked about a potential truce and a round of M&A bolstered sentiment.
*Russia: Humanitarian convoy issue resolved, but no cease-fire. NEW YORK, Aug 18- U.S. stocks surged on Monday, with the Dow up roughly 1 percent and the Nasdaq at a 14- year high as increasing homebuilder confidence and hopes for receding tensions between Russia and Ukraine brightened investors' view of the outlook for equities.