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Market Update

Tyson Foods Completes Hillshire Purchase; Lululemon Explores Buy Out


Author: Mukesh Buch
ticker.com
Last Update: 12:55 PM ET July 03 2014

12:25 PM New York Escalade completed the sale of print finishing business. International Speedway net dropped 4%. Lululemon rose on talks of going private. Synnex net climbed 28% on 33% increase of revenue.

Escalade, Inc (ESCA) gained 1.2% or 19 cents to $16.23 after the sporting goods and printing goods maker completed the sale of its print finishing business, including the Martin Yale product line to a third party. The sale was completed on June 30.

International Speedway Corporation (ISCA) increased 2.3% or 79 cents to $34.35 after the motor-sports entertainment provider reported revenue in the second-quarter ending in May jumped 6.8% to $190.3 million.

Net income in the quarter dropped 4% to $21.5 million or 46 cents a diluted share compared to $22.4 million or 48 cents.

Lululemon Athletica Inc (LULU) jumped 2.4% or $1 to $42.40 after the athletic apparel and accessories maker is in talk with private-equity firms including Leonard Green & Partners. The news was first reported by Wall Street Journal.

At the annual meeting held in June, Dennis Wilson the founder expressed his unhappiness with the direction the company.

Synnex Corporation (SNX) plunged 6.1% or $4.50 to $69.43 after the business process services provider said revenue in the second-quarter ending in May soared 33.3% to $3.45 billion.

Net income in the quarter climbed 28.5% to $39.6 million or $1.01 a diluted share compared to $30.8 million or 81 cents from a year ago.

Tyson Foods, Inc. (TSN) slipped 1.5% or 58 cents to $38.38 after the meat processor agreed to acquire its peer Hillshire Brands Co. for $63 per share in an all-cash deal valued at about $8.55 billion, including debt.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc