Breaking News Instant updates and real-time market news.

POST

Post Holdings

$85.84

1.04 (1.23%)

, BOBE

Bob Evans

$72.93

1.02 (1.42%)

07:35
09/19/17
09/19
07:35
09/19/17
07:35

Post Holdings to acquire Bob Evans for $77.00 per share

Post Holdings (POST) and Bob Evans Farms (BOBE) announced that they have entered into a definitive agreement in which Post will acquire Bob Evans for $77.00 per share. The highly complementary combination will significantly strengthen Post's portfolio of brands, expand choices for customers and increase Post's presence in higher growth categories of the packaged food market. The addition of Bob Evans' highly complementary portfolio of brands and products will meaningfully enhance Post's refrigerated side dish offering, provide Post with a presence in breakfast sausage and will immediately provide Post with a leading position in the higher growth perimeter of the store. The combination with Bob Evans will also strengthen Post's presence in commercial foodservice, create opportunities for future growth and enhance Post's position as one of North America's largest packaged food companies. The transaction, which was approved by the boards of both companies, is expected to be completed in the first calendar quarter of 2018, Post's Q2 of fiscal year 2018, subject to customary closing conditions including the expiration of waiting periods under U.S. antitrust laws and approval of Bob Evans' stockholders. The equity value of the transaction is approximately $1.5 billion. The acquisition purchase price represents a 15% premium on the 30 day volume weighted average price of Bob Evans shares. Post expects to finance the purchase with cash on hand and through borrowings under Post's existing revolving credit facility. Bob Evans will continue its dividend payments in the ordinary course of business pending closing. Post management expects Bob Evans to contribute approximately $107 million of adjusted EBITDA on an annual basis, which is the midpoint of Bob Evans' current fiscal year 2018 adjusted EBITDA outlook. This outlook is before the realization of cost synergies which Post management expects to be approximately $25Mannually by the third full fiscal year post-closing, resulting from benefits of scale, shared administrative services and infrastructure optimization. One-time costs to achieve synergies are estimated to be approximately $25M. The transaction is expected to be immediately accretive to Post's top-line growth, Adjusted EBITDA margins and free cash flow, excluding one-time transaction expenses.

POST

Post Holdings

$85.84

1.04 (1.23%)

BOBE

Bob Evans

$72.93

1.02 (1.42%)

POST Post Holdings
$85.84

1.04 (1.23%)

07/17/17
07/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) resumed with an Equal Weight at Morgan Stanley. 2. Post Holdings (POST) initiated with a Buy at Goldman Sachs. 3. Devon Energy (DVN) assumed with a Neutral at Piper Jaffray. 4. Baker Hughes (BHGE) initiated with a Market Perform at FBR Capital. 5. Altice USA (ATUS) was initiated with an Outperform at RBC Capital, an Overweight at JPMorgan, a Buy at Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at BofA/Merrill and Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
GSCO
07/17/17
INITIATION
Target $105
GSCO
Buy
Post Holdings initiated with a Buy at Goldman Sachs
Goldman analyst Jason English reinstated Post Holdings with a Buy and a $105 price target saying potential growth is compelling in the context of a growth backdrop for the industry and expects firming egg prices to continue.
06/13/17
MAXM
06/13/17
NO CHANGE
Target $80
MAXM
Buy
Bob Evans price target raised to $80 from $74 at Maxim
Maxim analyst Stephen Anderson raised his EPS estimates for Bob Evans (BOBE) to reflect easier commodity costs and contends that rising multiples among the company's direct peers - including Conagra (CAG), Hormel (HRL), Kraft Heinz (KHC), Pinnacle (PF), and Post (POST) - hints at the potential for accelerated industry consolidation. As previously reported, Anderson views Bob Evans as a target for a possible takeover and he keeps a Buy rating on the shares.
05/10/17
RHCO
05/10/17
NO CHANGE
RHCO
Post Holdings stock decline 'surprising,' says SunTrust
After Post's stock fell 5.5% in the wake of its results yesterday, SunTrust analyst William B. Chappell, Jr. calls the results "surprising." The analyst says that the results were "in-line" and "fairly straightforward." He still expects the company to meet the high end of its guidance, driven by "synergies from the Consumer Brands segment and outperformance of the Active Nutrition business." He thinks that the company's egg comparisons should improve, and he thinks that the decline in the stock has created an attractive entry point.
BOBE Bob Evans
$72.93

1.02 (1.42%)

08/23/17
SIDC
08/23/17
INITIATION
SIDC
Neutral
Bob Evans initiated with a Neutral at Sidoti
08/18/17
MAXM
08/18/17
NO CHANGE
Target $77
MAXM
Buy
Bob Evans estimates lowered on sow costs at Maxim
Ahead of the company's Q1 earnings report on August 30, Maxim analyst Stephen Anderson lowered his earnings per share estimate for Bob Evans to 37c from 41c and FY18 estimate to $2.22 from $2.34 to reflect a "prolonged seasonal spike" in sow costs. The analyst believes the headwind should be alleviated soon, however, and still thinks Bob's exposure to a higher-growth food products segment warrants premium multiples. The analyst lowered his price target for the shares to $77 from $80 and keeps a Buy rating on the name.
07/19/17
07/19/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tyson Foods (TSN) reinstated with a Neutral at Credit Suisse. 2. Bob Evans (BOBE) initiated with a Buy at Berenberg. 3. Quanex (NX) coverage assumed with an Outperform at Wedbush. 4. Agile Therapeutics (AGRX) initiated with a Buy at H.C. Wainwright. 5. Caesars (CZR) re-initiated with an Outperform at Imperial Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/17
BREN
07/19/17
INITIATION
Target $77
BREN
Buy
Bob Evans initiated with a Buy at Berenberg
Berenberg analyst Adam Mizrahi initiated Bob Evans with a Buy and a $77 price target.

TODAY'S FREE FLY STORIES

AGEN

Agenus

$4.71

0.04 (0.86%)

, ADRO

Aduro Biotech

$9.55

-0.1 (-1.04%)

12:25
10/19/17
10/19
12:25
10/19/17
12:25
Conference/Events
William Blair biotech analyst holds an analyst/industry conference call Aduro Biotech »

Biotech Analyst Phipps,…

AGEN

Agenus

$4.71

0.04 (0.86%)

ADRO

Aduro Biotech

$9.55

-0.1 (-1.04%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 24

    Oct

TSM

TSMC

$41.06

-0.445 (-1.07%)

12:22
10/19/17
10/19
12:22
10/19/17
12:22
Downgrade
TSMC rating change  »

TSMC downgraded to Hold…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AAPL

Apple

$159.76

-0.71 (-0.44%)

, AXP

American Express

$91.42

-0.6599 (-0.72%)

12:21
10/19/17
10/19
12:21
10/19/17
12:21
General news
On The Fly: Top stock stories at midday »

Stocks opened in negative…

AAPL

Apple

$159.76

-0.71 (-0.44%)

AXP

American Express

$91.42

-0.6599 (-0.72%)

VZ

Verizon

$49.81

1.16 (2.38%)

TRV

Travelers

$130.89

0.87 (0.67%)

PM

Philip Morris

$108.30

-4.21 (-3.74%)

ADBE

Adobe

$153.00

2.62 (1.74%)

EBAY

eBay

$37.97

0.48 (1.28%)

CRBP

Corbus Pharmaceuticals

$7.00

-0.05 (-0.71%)

UAL

United Continental

$60.75

-7.24 (-10.65%)

AAL

American Airlines

$52.03

-0.04 (-0.08%)

DAL

Delta Air Lines

$51.75

-1.11 (-2.10%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 19

    Oct

  • 19

    Oct

  • 19

    Oct

  • 22

    Oct

  • 26

    Oct

  • 01

    Nov

  • 01

    Nov

  • 02

    Nov

  • 06

    Nov

  • 08

    Nov

  • 13

    Nov

COTY

Coty

$15.66

-0.105 (-0.67%)

12:20
10/19/17
10/19
12:20
10/19/17
12:20
Options
Far downside put buyers in Coty Inc as implied volatility moves higher »

Far downside put buyers…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

12:20
10/19/17
10/19
12:20
10/19/17
12:20
General news
U.S. equities rebounded from lows »

U.S. equities rebounded…

12:18
10/19/17
10/19
12:18
10/19/17
12:18
Conference/Events
Stephens food & agribusiness analyst holds an analyst/industry conference call »

Food/Agribusiness Analyst…

$NSD

NASDAQ Market Internals

12:17
10/19/17
10/19
12:17
10/19/17
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

FB

Facebook

$176.03

-0.08 (-0.05%)

, AAPL

Apple

$159.76

-0.71 (-0.44%)

12:16
10/19/17
10/19
12:16
10/19/17
12:16
Periodicals
Apple can't agree with terms for Facebook's subscription tool, Recode reports »

Facebook's (FB) new…

FB

Facebook

$176.03

-0.08 (-0.05%)

AAPL

Apple

$159.76

-0.71 (-0.44%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

  • 24

    Oct

  • 01

    Nov

  • 02

    Nov

$NYE

NYSE Market Internals

12:16
10/19/17
10/19
12:16
10/19/17
12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PYPL

PayPal

$67.26

0.59 (0.88%)

, VNTV

Vantiv

$68.99

0.03 (0.04%)

12:15
10/19/17
10/19
12:15
10/19/17
12:15
Earnings
On The Fly: What to watch in PayPal earnings report »

PayPal (PYPL) is…

PYPL

PayPal

$67.26

0.59 (0.88%)

VNTV

Vantiv

$68.99

0.03 (0.04%)

MSFT

Microsoft

$77.61

0.02 (0.03%)

MA

MasterCard

$145.45

-0.74 (-0.51%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 19

    Oct

  • 22

    Oct

  • 26

    Oct

  • 26

    Oct

  • 31

    Oct

  • 29

    Nov

GM

General Motors

$45.12

-0.0049 (-0.01%)

12:12
10/19/17
10/19
12:12
10/19/17
12:12
Hot Stocks
Idaho AG announces $120M multistate settlement with General Motors »

Idaho Attorney General…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Oct

UAL

United Continental

$60.70

-7.29 (-10.72%)

, AAL

American Airlines

$52.03

-0.04 (-0.08%)

12:12
10/19/17
10/19
12:12
10/19/17
12:12
Hot Stocks
United Continental falls after Q4 guidance implies earnings miss »

United Continental's…

UAL

United Continental

$60.70

-7.29 (-10.72%)

AAL

American Airlines

$52.03

-0.04 (-0.08%)

DAL

Delta Air Lines

$51.50

-1.36 (-2.57%)

ALK

Alaska Air

$77.56

-2.875 (-3.57%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 22

    Oct

  • 25

    Oct

  • 26

    Oct

  • 01

    Nov

  • 29

    Nov

  • 30

    Nov

MLM

Martin Marietta

$208.03

4.68 (2.30%)

12:06
10/19/17
10/19
12:06
10/19/17
12:06
Hot Stocks
Martin Marietta agrees not to consummate Panadero deal before January 31 »

In a regulatory filing, …

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GS

Goldman Sachs

$238.50

-3.53 (-1.46%)

, MS

Morgan Stanley

$49.36

-0.79 (-1.58%)

12:06
10/19/17
10/19
12:06
10/19/17
12:06
Periodicals
Banks line up about EUR5B for Unilever spreads sale, Reuters reports »

Banks including Goldman…

GS

Goldman Sachs

$238.50

-3.53 (-1.46%)

MS

Morgan Stanley

$49.36

-0.79 (-1.58%)

MFG

Mizuho Financial Group

$3.55

-0.03 (-0.84%)

UN

Unilever; also tag UL

$58.03

-3.36 (-5.47%)

UL

Unilever; also tag UN

$56.51

-3.35 (-5.60%)

BX

Blackstone

$34.36

0.8742 (2.61%)

KKR

KKR

$20.25

0.03 (0.15%)

APO

Apollo Global

$31.71

-0.02 (-0.06%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 19

    Oct

  • 22

    Oct

  • 23

    Oct

  • 26

    Oct

  • 01

    Nov

  • 07

    Nov

XPO

XPO Logistics

$64.45

-0.31 (-0.48%)

12:01
10/19/17
10/19
12:01
10/19/17
12:01
Recommendations
XPO Logistics analyst commentary  »

XPO recent selloff…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    Nov

SCSS

Select Comfort

$32.08

1.7 (5.60%)

12:00
10/19/17
10/19
12:00
10/19/17
12:00
Options
Put buyers in Select Comfort won't rest »

Put buyers in Select…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

UAL

United Continental

$61.63

-6.36 (-9.35%)

11:57
10/19/17
10/19
11:57
10/19/17
11:57
Hot Stocks
Breaking Hot Stocks news story on United Continental »

United Continental…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

BX

Blackstone

$34.33

0.835 (2.49%)

11:55
10/19/17
10/19
11:55
10/19/17
11:55
Hot Stocks
Breaking Hot Stocks news story on Blackstone »

Blackstone says creating…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 22

    Oct

  • 07

    Nov

QCOM

Qualcomm

$52.21

-0.2 (-0.38%)

11:50
10/19/17
10/19
11:50
10/19/17
11:50
Options
Defensive option play in Qualcomm opens a big position »

Defensive option play in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    Nov

FIZZ

National Beverage

$97.74

0.15 (0.15%)

11:47
10/19/17
10/19
11:47
10/19/17
11:47
Hot Stocks
National Beverage attributes volatility to 'falsehoods' and 'rumors' »

National Beverage…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WPM

Wheaton Precious Metals

$20.59

0.586 (2.93%)

11:45
10/19/17
10/19
11:45
10/19/17
11:45
Options
Wheaton Precious Metals call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Nov

BA

Boeing

$258.00

-2.04 (-0.78%)

11:41
10/19/17
10/19
11:41
10/19/17
11:41
Hot Stocks
Boeing reports 16 new orders in weekly update »

Boeing reported 16 new…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 25

    Oct

AEM

Agnico Eagle

$45.12

0.3 (0.67%)

11:35
10/19/17
10/19
11:35
10/19/17
11:35
Options
Agnico Eagle put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Oct

BX

Blackstone

$34.12

0.6261 (1.87%)

11:30
10/19/17
10/19
11:30
10/19/17
11:30
Hot Stocks
Blackstone expects pace of AUM growth to accelerate in Q4, into 2018 »

Expects Q4 AUM to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 22

    Oct

  • 07

    Nov

LAKE

Lakeland Industries

$15.80

0.4 (2.60%)

11:28
10/19/17
10/19
11:28
10/19/17
11:28
Conference/Events
Lakeland Industries management to meet with Roth Capital »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Oct

  • 16

    Nov

  • 30

    Nov

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.