Research 03.06.2014

HSH Hillshire Brands–Hillshire received an improved $55 per share takeover bid from Pilgrim's Pride, up from the original $45 and topping another bid from Tyson Foods of $50 per share. However, Hillshire said its prior agreement to buy Pinnacle Foods does not allow it to terminate that deal, a condition of both the Pilgrim's Pride and Tyson bids. LVS Las Vegas Sands, MGM, Wynn Resorts–A Deutsche Bank report cited by StreetInsider.com said Macau gaming revenue was up 9.3 percent in May, well below the firm's estimate of a 14.8 percent increase.

Earnings

KKD Krispy Kreme—The doughnut store chain matched estimates with first quarter profit of 23 cents per share, excluding certain items. However, revenue was light, and the company cut its full-year earnings guidance, in part because expenses related to technology upgrades. DG Dollar General–The discount retailer reported quarterly profit of 72 cents per share, one cent short of estimates, with revenue also short of consensus. Dollar General points to poor winter weather and a competitive environment, among other factors, impacting its results.

Conference calls

8:30 11:00 G-III Apparel GIII 10:00 0:00 Dollar General DG 10:00 0:00 Measurement Specialties MEAS 11:00 14:00 American Woodmark AMWD 16:30 0:00 Ascena Retail Group ASNA 17:00 0:00 Ambarella AMBA 17:00 20:00 Mattress Firm MFRM 17:00 17:00 Rentrak RENT 20:00 0:00 Jiayuan.com DATE

New day high in the last 30 minutes.

COUP DDD

Penny stock

ZQK

Interest

MWV CRK GDP HSH

Rating

Firm Action Company ISI Group Downgrade AEIS Credit Suisse Downgrade AGN Stifel Nicolaus Downgrade BRCM Janney Montgomery Scott Downgrade CSH Citigroup Inc. Downgrade CNC Citigroup Inc. Downgrade CLVS Goldman Sachs Downgrade DANOY Goldman Sachs Downgrade HEINY Stifel Nicolaus Downgrade ZQK Wells Fargo & Co. Downgrade TSLX Goldman Sachs Downgrade GRA Goldman Sachs Upgrade BRFS Wedbush Upgrade BRCM Nomura Upgrade CHl Wells Fargo & Co. Upgrade DVN Barclays Upgrade EWBC Goldman Sachs Upgrade HUN Evercore Partners Upgrade LIN