Sysco Corporation was a winner within the wholesale industry, rising $0.41 (1.2%) to $35.75 on light volume
The U.S. Senate on Wednesday overwhelmingly approved the nomination of Justice Department official Terrell McSweeny to be the third Democratic commissioner on the five-member Federal Trade Commission. McSweeny, nominated in June, is a former domestic policy adviser to Vice President Joe Biden and is now chief counsel for competition policy at the Justice Department's antitrust division. The vote was 95-1 for McSweeny with David Vitter, a Republican from Louisiana, voting against her nomination. McSweeny's confirmation will give Democrats a majority on the FTC, which works with the U.S. Department of Justice to enforce antitrust law and investigates allegations of deceptive advertising, among other responsibilities.
The U.S. Senate on Wednesday filled a long-standing vacancy at the Federal Trade Commission, restoring a Democratic majority at the antitrust and consumer-protection agency.
DFT DSW SYY are going ex-dividend tomorrow, Wednesday, April 2, 2014, 4:00 AM ET
Sysco Corporation was a leading decliner within the wholesale industry, falling $0.39 (-1.1%) to $35.47 on light volume
In a story on Wednesday for The Deal, Bill McConnell walks through some of the key concerns that have been raised. There are two issues investors in the stock should consider.
Whether food distribution is a national market will be key to the agency's view of the merger.
Ask veteran short seller Andy Matthes what three stocks he think are unusually risky and, after thinking a second, he quickly names them: Family Dollar, Fastenal and Sysco. They're among several dozen stocks in the Teton Valley Fund, a new short-selling mutual fund he co-manages with short-selling analyst Gary Cooper. Like the rest of fund's portfolio, these are big, liquid and, unlike so much of the focus in the short community, not shorts because they believe they're disasters in the making. Instead, Matthes says they're "companies that go through the natural business cycle and have a hiccup. It doesn't make them bad people or bad companies." But what it does, if Matthes' and Cooper's financial statement sleuthing is right, is make them ripe for a tumble. Even in markets like this, which have been devastating for the shorts, stocks that somehow turn in unexpectedly bad or disappointing news do tumble.