Hillshire Brands Soars Midday as Tyson Enters Acquisition Battle

Hillshire Brands

Hillshire Brands Co (NYSE:HSH), Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI) and Towerstream Corporation (NASDAQ:TWER) are the top midday gainers of the day. On the losing end are dELiA*s, Inc. (NASDAQ:DLIA), Fabrinet (NYSE:FN) and Santander Consumer USA Holdings Inc (NYSE:SC).

Hillshire Brands Surges After Tyson Foods Makes Bid

The share price of Hillshire Brands Co (NYSE:HSH) jumped +16.64% today after Tyson Foods made a $6.8 billion offer for the company – just two days after Pilgrim’s Pride made a $5.5 billion bid. Billionaire George Soros holds 454,000 HSH shares.

Following Hillshire is Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI), its price jumping +12.92% early in the day after reporting a 10.90% earnings increment. The company has a market cap value of $1.03 billion, and its shares are trading at nearly a 52-week high. Richard Chilton owns a small stake in the company.

Last up on our midday gainers list is Towerstream Corporation (NASDAQ:TWER), which surged +11.02%. The wireless broadband company has reached an agreement with Alcatel-Lucent for small cell services. George Soros initiated a position in Towerstream in June 2013 and now owns more than 430,000 shares.

dELiA*s Stumbles Following CFO Resignation

Topping off our midday losers list is dELiA*s, Inc. (NASDAQ:DLIA). Its share price fell -10.29% today after the Chief Financial Officer David Dick announced his resignation. He will remain with the company until August 1, 2014. Tiger Management owns 3.4 million shares of the retailer – less than 1% of its entire portfolio.

The share price of Fabrinet (NYSE:FN) slipped -5.47% midday today. Fabrinet, which offers outsourced process engineering and manufacturing services, is a George Soros pick. The billionaire own 13,000 shares of the company, acquired at an average price of $18.77 each.

Rounding out today’s list of midday losers is Santander Consumer USA Holdings Inc (NYSE:SC), as its price fell -4.75%. According to his latest 13F filing, Jorge Lemann picked up a position in the auto finance company.

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)



About the Author

iBillionaire
iBillionaire provides access to the investment data and strategies of the world's most successful self-made billionaires. Mobile app available for iOS and Android. Maker of the iBillionaire Index (IBLN). More at www.iBillionaire.me.

Be the first to comment on "Hillshire Brands Soars Midday as Tyson Enters Acquisition Battle"

Leave a comment

Your email address will not be published.