Cabela's IncorporatedNYSE
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  • Wed, Nov. 30, 9:04 AM
    • Cabela’s (NYSE:CAB) refiles its Hart-Scott-Rodino Act Notification with the FTC and DOJ for its merger with Bass Pro Shops.
    • The action extends the waiting period until December 29 for the deal particulars to be reviewed and worked out with the regulators.
    • Shares of Cabela's closed at $62.54 yesterday vs. the $65.50 Bass bid.
    | Wed, Nov. 30, 9:04 AM
  • Tue, Nov. 29, 4:43 PM
    • Cabela's (NYSE:CAB) clawed back to breakeven after plunging early following a NY Post report that the FTC is seeking additional information from Bass Pro Shops on its proposed $5.5B merger with CAB.
    • Under FTC rules, the agency would have needed to notify both companies this week if it was set to approve the deal following an initial review.
    • The report says the new request likely would delay the deal for several more months.
    | Tue, Nov. 29, 4:43 PM | 4 Comments
  • Tue, Nov. 29, 5:28 AM
    • The FBI said a record-setting number of gun background checks were processed this Black Friday, a possible indicator of higher firearm sales.
    • The National Instant Criminal Background Check System processed 185,713 transactions, giving the gun industry a much-needed boost.
    • After a run-up in sales the week before the election, major gun manufacturers saw their stocks dive by double-digits.
    • Related tickers: SWHC, RGR, CAB, SPWH, VSTO, OLN
    | Tue, Nov. 29, 5:28 AM | 41 Comments
  • Sat, Nov. 26, 9:11 AM
    • It's no surprise that Republican administrations in general are seen as more friendly towards mergers than Democrats, and since the election, arbitrage spreads (the difference between a target's deal price and its current price) have tightened to the 8-9% range from 11%.
    • However, on an annualized basis, there are still plenty of deals out there offering double-digit returns.
    • Source: Vito Racanelli in Barron's
    • Merger-arb shop WallachBeth Capital is fan of Harman International Industries (NYSE:HAR), which earlier this month drew a cash bid from Samsung for $112 per share vs. its close Friday of $109.74. Another pick is B/E Aerospace (NASDAQ:BEAV) which closed at $59.79 and has a cash and stock deal in hand from Rockwell Collins (NYSE:COL) for $62 per share.
    • Lutetia Capital likes Cabela's (NYSE:CAB), which closed the week at $62.50 vs. Bass Pro Shops' $65.50 bid.
    • The Merger Fund's Roy Behren is confident Qualcomm's (NASDAQ:QCOM) bid for NXP Semiconductors (NASDAQ:NXPI) will pass regulatory muster. NXP's close yesterday of $99.51 is a full 10.5% below the $110 cash offer. If the deal closes in nine months, it's an annualized return of 12.6%.
    • Another deal with maybe overblown antitrust concerns is Danone/WhiteWave Foods (NYSE:WWAV). The spread is just 2%, but a close early next year would mean an annualized return over 10%.
    • Seeking Alpha contributor Chris DeMuth stays on top of merger arb spreads with his M&A Daily.
    | Sat, Nov. 26, 9:11 AM | 16 Comments
  • Mon, Nov. 21, 3:35 PM
    • Elevation LLC analyst Ira Gorsky thinks antitust concerns on Cabela's (CAB +0.6%) are overdone.
    • The research firm thinks there is even a "decent" chance that the deal closes without a second Hart-Scott-Rodino request.
    • Cabela's trades at $61.98 vs. the $65.50 buyout price offered up by Bass Pro Shops.
    • Source: Bloomberg
    | Mon, Nov. 21, 3:35 PM
  • Wed, Oct. 26, 9:09 AM
    • Cabela's (NYSE:CAB) reports an increase in promotions during Q3 led to a drop in margin rates.
    • Comparable sales were down 2.3% overall and fell 1.8% in the U.S. Soft apparel sales offset strong demand for firearms.
    • Internet and catalog sales were only up 3.6% during the period.
    • The company's earnings report was the first since it agreed to be acquired by Bass Pro Shops.
    • Previously: Cabela's misses by $0.28, misses on revenue (Oct. 26)
    • CAB -1.01% premarket to $62.00.
    | Wed, Oct. 26, 9:09 AM
  • Wed, Oct. 26, 6:36 AM
    • Cabela's (NYSE:CAB): Q3 EPS of $0.53 misses by $0.28.
    • Revenue of $996.5M (+7.6% Y/Y) misses by $23.5M.
    • Shares -2.6% PM.
    | Wed, Oct. 26, 6:36 AM | 1 Comment
  • Mon, Oct. 3, 12:45 PM
    | Mon, Oct. 3, 12:45 PM | 1 Comment
  • Mon, Oct. 3, 9:22 AM
    | Mon, Oct. 3, 9:22 AM
  • Mon, Oct. 3, 8:31 AM
    | Mon, Oct. 3, 8:31 AM | 25 Comments
  • Mon, Oct. 3, 7:49 AM
    • A consortium of investors has emerged as the leading bidder for Cabela's (NYSE:CAB), sources tell Reuters.
    • The group includes Bass Pro Shops, the PE arm of Goldman Sachs (NYSE:GS), and Capital One Financial (NYSE:COF).
    • Speculation on a Cabela's buyout has gone on for almost a year after the company opened itself up to considering strategic alternatives.
    • CAB +5.59% premarket to $58.00. Shares of the retailer are up 24.5% over the last 52 weeks.
    | Mon, Oct. 3, 7:49 AM
  • Thu, Sep. 29, 4:19 PM
    • Privately-held Bass Pro Shops is partnering with the private-equity arm of Goldman Sachs (NYSE:GS), and they're working on a bid with Capital One (NYSE:COF), which is interested in Cabela's (NYSE:CAB) credit card business, according to Reuters' sources.
    • Then there's P-E outfit Sycamore Partners which is pairing with Synchrony Financial (NYSE:SYF) to make an offer.
    • Binding bids are due this week.
    • Cabela's credit card business is called World's Foremost Bank, and it had nearly 2M accounts, $5B in loans, and $502M in revenue last year.
    • Cabela's closed the session higher by 2.3%, with all of that gain coming in the last few minutes as this report hit the wires.
    | Thu, Sep. 29, 4:19 PM | 9 Comments
  • Mon, Aug. 29, 3:48 PM
    • Shares of Cabela's (CAB -0.1%) have broken higher from their session low amid some chatter that the company is now in talks with a PE consortium.
    • Last month, reports indicated that Bass Pro Shops was on the verge of a deal to buy out Cabela's.
    • Cabela's trades about 10% below its high from earlier in the summer.
    • Previously: Bass Pro Shops seen reeling in Cabela's (July 14)
    | Mon, Aug. 29, 3:48 PM | 8 Comments
  • Fri, Aug. 5, 3:44 AM
    • The latest figures from the FBI show that July 2016 was the 15th consecutive month of record background checks for gun sales.
    • The previous July record was set in 2015, when there were 1,600,832 checks, but last month there were 2,197,169.
    • Each person may buy multiple firearms once passing a background check, so the amount of guns sold at retail may be even higher than then number of background checks performed.
    • Related tickers: SWHC, RGR, CAB, VSTO
    | Fri, Aug. 5, 3:44 AM | 24 Comments
  • Thu, Jul. 28, 11:00 AM
    • Cabela's (NYSE:CAB) is lower after same-store sales came in at 1.5%, below the 1.9% pace expected by analysts. Strong demand for firearms helped push same-store sales into positive territory for the first time in several years.
    • Merchandise gross margin fell 290 bps to 32.9%.
    • The company didn't issue any details on the strategic review underway.
    • Shares of Cabela's are down 3.73% to cut into the gains piled up over the last month.
    • Previously: Cabela's misses by $0.02, beats on revenue (July 28)
    | Thu, Jul. 28, 11:00 AM
  • Thu, Jul. 28, 6:32 AM
    • Cabela's (NYSE:CAB): Q2 EPS of $0.59 misses by $0.02.
    • Revenue of $929.9M (+11.2% Y/Y) beats by $24.31M.
    • Shares +1.50% PM.
    • Press Release
    | Thu, Jul. 28, 6:32 AM