3:10 PM New York – Andeavor Logistics agreed to acquire Western Refining in a deal valued at $1.8 billion. Third Point acquired a stake in BlackRock and reaffirms its interest in Alibaba.Group. Sysco profit soared 42%. Target agreed to buy Grand Junction. VF Corp agreed to acquire family-owned Williamson-Dickie for $820 million.
Tollbooth Index jumped 127.90 or 1.1% to 12,199.24.
Andeavor Logistics LP
) rose 15 cents to $48.47 after the full-service oil, gas logistics services provider said it intends to acquire rival Western Refining Logistics LP for about $1.8 billion, including debt to expand in Permian Basin in Texas and New Mexico.
) increased 1.1% or $4.72 to $428.78 and in the regulatory filing investment manager said Dan Loeb''''s Third Point acquired a stake of 1.6 million shares worth about $678.7 million.
) advanced 2.4% or $1.22 to $52.80 after the food products distributor reported sales in the fourth-quarter ending on July 1 jumped 5.7% from a year ago to $14.4 billion.
Net income in the quarter soared 41.5% to $305.2 million or 57 cents per diluted share from $215.7 million or 38 cents in the same quarter last year.
SYSCO said sales in the U.S. foodservice operations declined 3.8% to $9.8 billion while sales in international foodservices business surged 80% to $2.7 billion.
increased 1.5% or 82 cents to $55.85 after the discount stores operator today agreed to buy San Francisco-based transportation software platform provider Grand Junction to improve its delivery capabilities.
) gained 1.5% or 97 cents to $62.55 after the branded lifestyle apparel, footwear designer agreed to acquire a family-owned work-wear provider Williamson-Dickie Mfg. Co for about $820 million in cash.
The transaction is expected to close early in the fourth quarter of this year.
VF Corp lifted fiscal 2017 revenue estimate to jump 3.5% or to $11.85 billion from the earlier estimate of $11.65 billion and earnings per share of about $2.96 from the previous guidance of $2.94.
The branded apparel maker lifted fiscal 2021 revenue estimate to grow between 5% and 7% to more than $15 billion compared to the previous forecast of 4% to 6% and earnings per share to soar between 11% and 13% or more than $5 from the earlier estimate of 10% to 12% increase.