On The Fly: Top five weekend stock stories - InvestingChannel

On The Fly: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Cadence Bancorp (CADE) and State Bank Financial (STBZ) announced the entry into a definitive merger agreement in a stock-for-stock transaction. Under the terms of the merger agreement, State Bank Financial shareholders will receive 1.160 shares of Cadence Bancorp Class A common stock for each share of State Bank common stock, valuing the transaction at approximately $1.4B based on the closing share price of Cadence of $30.23 on May 11, 2018. In other M&A news, Xerox (XRX) announced that it has notified Fujifilm (FUJIY) that the previously announced transaction agreement to combine Xerox with Fuji Xerox is being terminated in accordance with its terms. Additionally, Xerox said it entered into a new settlement agreement with Carl Icahn and Darwin Deason resolving the pending proxy contest in connection with the company’s 2018 Annual Meeting of Shareholders and Deason’s litigation against Xerox and its directors. 2. Brinker’s (EAT) Chili’s Grill & Bar said it learned that payment card information of some of its guests who visited certain Chili’s Grill & Bar corporate-owned restaurants has been compromised in a data incident. Currently, the company believes the data incident was limited to between March – April 2018. 3. Kroger (KR), which is the number 2 player in groceries, has been gaining market share in recent years, Jack Hough wrote in this week’s edition of Barron’s. As competition rises, smaller chains could be forced to close stores and Kroger could continue to win new shoppers, according to Jack Hough. 4. Disney (DIS) and Marvel’s “Avengers: Infinity War” ended its third weekend at the box office with $61.8M domestically and $1.6B in global ticket sales. The movie is now the top-grossing superhero pic ever at the global box office after passing “The Avengers.” The film opened Friday in China to a near-record $200M. “Avengers: Infinity War” earned an A CinemaScore and sports an 86% Rotten Tomatoes score. 5. AT&T (T), Exxon Mobil (XOM), Procter & Gamble (PG), Kimberly-Clark (KMB), Coca-Cola (KO), Consolidated Edison (ED), Cardinal Health (CAH), Leggett & Platt (LEG), Chevron (CVX), Target (TGT), Federal Realty Investment Trust (FRT) and PepsiCo (PEP) saw positive mentions in Barron’s, while SeaWorld (SEAS) was mentioned cautiously.