Sirius XM Announces Repurchase Program and 3 Hot Stocks Make Waves
Rite Aid Corporation’s (NYSE:RAD) same-store sales for November fell 3% compared to the year ago period. While front-end same-store sales declined 0.5%, pharmacy same-store sales fell by 4.2%. Total sales for the period declined 2.3% to $2.396 billion versus $2.452 billion in the year ago period. Hurricane Sandy accounted a 0.4% negative impact on front end same-store sales.
Sirius XM Radio Inc (NASDAQ:SIRI) announced a common stock repurchase program worth $2 billion. The company clarified that Liberty Media Corporation, owner of about 49.8% of the stock, “will participate in the company’s share repurchases on a pro rata basis so that its relative ownership interest will not be affected by the program.” The company also declared a special cash dividend of $0.05 per share of common stock.
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Blackstone Group (NYSE:BX) has withdrawn from the bidding for Inghams Enterprises, Australia’s biggest poultry producer. According to the Wall Street Journal, who cited people with knowledge of the deal, Blackstone dropped out as the price was too high.
The TD Bank Group (NYSE:TD) acquires asset management firm Epoch Holding Corporation along with its subsidiary, Epoch Investment Partners Inc, for about $668 million in cash, paying $28 per share, marking a premium of 28% on Epoch’s closing price on December 5. “We’ve been looking for an opportunity to acquire a U.S. asset manager to build our North American Wealth business, which is a key growth area for TD…Epoch will enable TD Asset Management to substantially broaden our expertise in U.S. and global equities,” says TD Bank.
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