Wall St. ends choppy session lower, weighed by China, oil
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- Wall Street closes lower as oil prices jump, indexes notch monthly gains
- The Warsh pivot markets didn't expect
- Oil settles up by more than 2.5% as US and Iran resume military attacks
- Energy stocks rally as fresh U.S.-Iran attacks drive oil prices higher
- BofA turns S&P 500 signals from red to yellow: What to buy now
United Natural Foods (UNFI) PT Cut to $40 at BMO Capital Following Disappointing Q1
December 8, 2015 11:10 AM ESTBMO Capital maintained a Market Perform rating on United Natural Foods (NASDAQ: UNFI), and cut the price target to $40.00 (from $52.00), following the company's 1Q earnings report. UNFIs earnings came in below expectations. A deceleration of organic growth and a cautious tone on GM%, are some of several challenges that contributed to the disappointing quarter.
Analyst Kelly Bania commented, "UNFIs F1Q16 earnings were below expectations, marked by several challenges, namely a deceleration of organic growth (ex-Albertsons to +6.8% in F1Q16 vs+8.4% QTD trends... More
Norfolk Southern (NSC) Confirms Revised Offer from CP (CP); Says Offer is Less Than Prior Proposal
December 8, 2015 7:41 AM ESTNorfolk Southern Corporation (NYSE: NSC) confirmed that it has received a revised, reduced proposal from Canadian Pacific (NYSE: CP).
Norfolk Southern noted that Canadian Pacific's revised, reduced proposal provides for a per share consideration of $32.86 in cash and a fixed exchange ratio of 0.451 shares in a new company that would own Canadian Pacific and Norfolk Southern, and is valued at $91.62 based on Canadian Pacific's closing price on December 7, 2015. The consideration offered in this revised proposal is less than the prior proposal, which the Norfolk Southern board unanimously determined was grossly... More
