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In its filing, U.S. Foods said it has about 25,000 workers and annual sales of $23 billion. The filing comes several months after a judge blocked plans by larger rival Sysco Corp. to acquire U.S. Foods for $3.5 billion. U.S. Foods is owned by two private investment firms, Clayton, Dubilier& Rice and Kohlberg Kravis Roberts, which say they plan to keep controlling a...
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HOUSTON _ Sysco Corp. on Monday reported fiscal second-quarter profit of $272.4 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share. Sysco shares have fallen almost 3 percent since the beginning of the year, while the Standard& Poor's 500 index has declined 5 percent.
U.S. stock futures were lower this morning, after closing out Friday the worst January on Wall Street since 2009 but the best single day since September.
*GE terminates agreement after regulatory objections. STOCKHOLM/ WASHINGTON, Dec 7- General Electric on Monday walked away from a $3.3 billion agreement to sell its appliances business to Sweden's Electrolux, terminating the deal after months of opposition from U.S. antitrust regulators. The U.S. Justice Department had filed a lawsuit in July asking a judge to...
U.S. stock index futures pointed to a higher open on Monday ahead of a data packed week, with the all-important jobs report on Friday in focus.
Markets will be laser-focused on Friday's October jobs report in the week ahead and may even look past more than a dozen scheduled Fed speeches.
CNBC Pro ran quantitative analysis and used a data service used by hedge funds to figure out how investors would have done by buying Trian's stocks.
NEW YORK, Sept 25- Early in August, a call came into Sysco Corp from Trian Fund Management LP, warning the food distributor that the activist hedge fund was about to disclose a large stake in the company. Trian, run by veteran investor Nelson Peltz, unveiled its 7.1 stake in Sysco on Aug. 14, and asked for board representation and for the Houston- based company to improve...
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WASHINGTON, Sept 9- The U.S. Senate's top antitrust overseer, elected with backing from the Tea Party, has fought the Obama administration and has a 100 percent rating from the conservative Heritage Foundation. But when it comes to enforcing antitrust law, Republican Senator Mike Lee of Utah stopped well short of faulting the administration.
Sept 8- Pump and valve maker Pentair Plc on Tuesday said it would appoint a founding partner of Trian to its board, giving the activist hedge fund a seat inside the company following its recent purchase of a 7.2 percent stake. Trian, which under the leadership of founder Nelson Peltz has taken on companies such as PepsiCo and DuPont, disclosed a 7 percent stake in...
Aug 20- Food distributor Sysco Corp added Nelson Peltz to its board, days after the activist investor disclosed a 7.1 percent stake in the company and called its shares "undervalued". Sysco said it was also appointing Josh Frank, a partner at Peltz's Trian Fund Management LP, to the board effective Friday. "Sysco is a leader in its business, and we believe it is...
Sysco said it was also appointing Josh Frank, a partner at Peltz's Trian Fund Management L.P., to the board effective Aug. 21.
U.S. stocks closed higher amid Greece and after the release of three more economic data sets.
Trian would become the largest individual shareholder in Sysco.
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CNBC Contributor Mike Khouw outlines some very bullish bets on Sysco in the options market.