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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...
Pros pick top small, mid and large cap stocks
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.
*Euro zone agrees to launch bailout for Greece. *J.C. Penney, Nordstrom rise after results. Aug 14- U.S. stocks ended a volatile week higher on Friday after upbeat U.S. economic data and as euro zone finance ministers agreed to launch a third bailout program for Greece.
U.S. stocks closed higher amid Greece and after the release of three more economic data sets.
*J.C. Penney, Nordstrom rise after strong results. J.C. Penney and Nordstrom both rose after the department store chains posted better-than-expected quarterly results. J.C. Penney was up 5.1 percent at $8.48 while Nordstrom jumped 3.7 percent to $77.72 and was among the biggest percentage gainers in the S&P 500, while the S&P retail index was up 0.4 percent.
Trian would become the largest individual shareholder in Sysco.
Aug 14- Activist investor Nelson Peltz's hedge fund, Trian Partners, has picked up a more than 7 percent stake in Sysco Corp for about $1.6 billion, calling the largest U.S. food distributor's shares "undervalued." Sysco's shares jumped 8.7 percent to a 20- month high of $41.87 in afternoon trading on Friday. Trian, which becomes Sysco's largest shareholder...
*King Digital, El Pollo Loco slump as results disappoint. *J.C. Penney, Nordstrom rise after strong results. The positive data comes at the end of a choppy week during which China devalued its currency, hitting markets and derailing predictions of a rate hike.
Aug 14- Activist investor Nelson Peltz's hedge fund, Trian Partners, has picked up a more than 7 percent stake in Sysco Corp, calling the largest U.S. food distributor's shares undervalued.
Take a look at some of Monday's early movers.