An Angie’s List stock holder filed a federal lawsuit tostop its planned merger with the parent company of rival HomeAdvisor.
David Pill, who filed the lawsuit in federal court earlier this month, says the salewas made at “an inadequate priceand through a process that virtually assures that the merger will be consummated.”
In May, Angie’s List agreed to be acquired by IAC, the parent company of rival HomeAdvisor, for more than $500 million. The deal comes about a year and a half after Angie’s Listrejected a $512 million offerfrom IAC.
The deal, expected to close in the fourth quarter, is the end of an era forIndianapolis’ best-known technology company.The new publicly traded company will be called ANGI Homeservices Inc. and will be headquartered in Golden, Colo. HomeAdvisor CEO Chris Terrill will lead the company.
stock charts: Best Buy Co., Inc.(BBY)
- [By Ben Levisohn]
The folks at Bespoke Investment Group note that its “Death By Amazon” index, which includesBest Buy (BBY), Barnes & Noble (BKS), Wal-Mart Stores (WMT), and Macy’s (M), among other traditional retailers that have been hurt by Amazon.com’s (AMZN) dominance, has been outperforming since Donald Trump’s election victory:
- [By JJ Kinahan]
FIGURE 1: OUTPERFORMING RETAIL. Best Buy (BBY) shares have risen 44.69% year-to-date, significantly outperforming the S&P 500’s (SPX) 8.2% increase and the S&P Retail Select Sector Index’s (SPSIRE) 11.46% decline over the same time period. BBY is charted above compared to the SPSIRE (purple line). Chart source: thinkorswim® by TD Ameritrade. Data source: Standard & Poor’s. Not a recommendation. For illustrative purposes only. Past performance does not guarantee future results.
- [By WWW.THESTREET.COM]
Then there was Best Buy (BBY) with a surprisingly strong quarter.
Many of the losers can be found at the mall, with Gap Stores (GPS) and Abercrombie & Fitch (ANF) continuing to disappoint. The only winner at the mall was Childrens’ Place (PLCE) , but Cramer said he’s not counting out a turnaround at L Brands (LB) .
stock charts: Vince Holding Corp.(VNCE)
- [By Lisa Levin]
Shares of Vince Holding Corp (NYSE: VNCE) were down around 41 percent to $0.800. Vince Holding reported a Q4 loss of $162.1 million on revenue of $63.9 million.
- [By Peter Graham]
Small cap upscale apparel brandretailer Vince Holding Corp (NYSE: VNCE) reported Q1 2017 financial results before the market opened this morning. Net sales decreased 14.2% to $58.0 million as wholesale segment sales decreased 20.9% to $35.4 million, primarily due to a reduction in full-price orders as a result of the elimination of the Companys summer delivery, and asdirect-to-consumer segment salesfell 1.0% to $22.6 million. Comparable sales decreased 5.7%, including e-commerce sales, due to a decrease in average order value.
- [By Lisa Levin]
Shares of Vince Holding Corp (NYSE: VNCE) were down around 15 percent to $3.67. Vince Holding projects full-year sales and EPS to come in at or below the low end of its earlier issued outlook.
stock charts: Fluor Corporation(FLR)
- [By Paul Ausick]
Fluor Corp. (NYSE: FLR) dropped about 6.3% Monday to post a new 52-week low of $41.78 after closing at $44.58 on Friday. The stock’s 52-week high is $58.37. Volume of about 3.5 million was more than double the daily average. The company had no specific news.
- [By David Zeiler]
Construction stocks Fluor (NYSE: FLR) and Granite Construction Inc. (NYSE: GVA) both rose about 8%; Vulcan Materials Co. (NYSE: VMC) jumped nearly 10%.
stock charts: Lifeway Foods, Inc.(LWAY)
- [By Peter Graham]
A long term performance chart for Dean Foods Co shows a positive but not spectacular long term return as small cap Lifeway Foods, Inc (NASDAQ: LWAY) has been more volatile and non-dairy desert stock Tofutti Brands Inc (NYSEMKT: TOF) has given a moderately positive performance:
- [By Jim Robertson]
Last Friday, our Under the Radar Moversnewsletter suggested shorting small capdairy health food product stock Lifeway Foods, Inc (NASDAQ: LWAY):
stock charts: Allscripts Healthcare Solutions, Inc.(MDRX)
- [By Benzinga News Desk]
Goldman Sachs (NYSE: GS) has at least one billion reasons to hope President Trump’s paring back of Dodd-Frank will include the Volcker Rule: Link
10:30 a.m. Dallas Fed Manufacturing Business Index
11:30 a.m. 6-Month Bill Auction
11:30 a.m. 3-Month Bill Auction
1 p.m. 2-Year Note Auction
1:15 p.m. Chicago Fed President Evans Speaks
6:30 p.m. FOMC Member Kaplan Speaks
Piper Jaffray upgraded Best Buy Co (NYSE: BBY) from Neutral to Overweight
Wells Fargo upgraded Allscripts Healthcare (NASDAQ: MDRX) from Market Perform to Outperform
Mizuho upgraded Universal Health Service (NYSE: UHS) from Neutral to Buy
Piper Jaffray downgraded The Michaels Companies (NASDAQ: MIK) from Overweight to Neutral
JMP Securities downgraded KB Home (NYSE: KBH) from Market Outperform to Market Perform
Raymond James downgraded Sierra Wireless Inc. (NASDAQ: SWIR) from Outperform to Market Perform
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here or email firstname.lastname@example.org.
- [By Monica Gerson]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Friday's regular session.
Texas Instruments Incorporated (NASDAQ: TXN) Fri 7/1 62.0 Puts (Wkly) Sweep: 1426 @ ASK $1.24: 1426 traded vs 0 OI: Earnings 7/27 $61.86 Ref
Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) Jul16 13.0 Puts Sweep: 500 @ ASK $0.45: 500 traded vs 0 OI: Earnings 8/2 $13.07 Ref
Intel Corporation (NASDAQ: INTC) Jul16 30.0 Puts: 7500 @ ASK $0.26: 7658 traded vs 47k OI: Earnings 7/20 $32.07 Ref
Ares Capital Corporation (NASDAQ: ARCC) Dec16 16.0 Puts Sweep: 963 @ ASK $2.75: 974 traded vs 18 OI: Earnings 8/2 $14.45 Ref
LinkedIn Corp (NYSE: LNKD) Aug16 115 Puts: 600 @ ASK $4.05: 615 traded vs 386 OI: $132.12 Ref
Posted-In: Unusual Put OptionsNews Options Markets
stock charts: Starwood Hotels & Resorts Worldwide, Inc.(HOT)
- [By Lisa Levin]
On Monday, cyclical consumer goods & services shares gained by 0.41 percent. Top gainers in the sector included Kandi Technologies Group Inc (NASDAQ: KNDI), Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT), and Lifetime Brands Inc (NASDAQ: LCUT).
- [By Cameron Saucier]
After the deal was announced, the stocks of several companies benefited from their current exposure to Cuba or newly announced ties with the island country. For example, Royal Caribbean Cruises (NYSE: RCL) jumped from $69.11 per share on July 1 to $72.99 on July 12. And Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) hit its 52-week high of $84.37 in March after it announced new hotel deals in Cuba.