Diamond Foods: Ready To Get Valued
Darspal S Mann
Darspal S Mann
Mon, Jul. 11, 2:12 PM
- A bill requiring food companies to label GMO ingredients was approved by the U.S. Senate by a 63 to 30 vote and now heads to the House of Representatives.
- The negotiated bill requires food companies to label genetically modified food by a phrase, symbol on the package, or a bar code that can be scanned by smartphones.
- The Department of agriculture still has two years to write the precise labeling rules if the House approves the bill.
- The passage of the bill is seen as a positive for the food sector as the alternative of having to adhere to state-by-state rules could create operational chaos for national sellers.
- Food stocks: SENEA, SENEB, THS, OTCPK:NCRA, CPB, MDLZ, GIS, OTCPK:NSRGY, FLO, CAG, DF, SJM,DF, ANFI, JJSF, WWAV, UL, OTCQX:DANOY, OTCPK:PLATF, POST, K, PEP, DMND, PF, HAIN, KO, BETR, KHC, WILC, PPC, PF, LWAY, HRL, TSN, DTEA, SAFM, BRID.
Mon, Feb. 29, 5:45 PM
- Snyder's-Lance (LNCE +1.1%) has wrapped its cash-and-stock acquisition of Diamond Foods (NASDAQ:DMND).
- Diamond Foods stockholders are receiving 0.775 Snyder's-Lance shares and $12.50 cash for each share of Diamond they hold.
- Adding brands like Pop Secret, Kettle Chips, and Emerald and Diamond nuts helps increase the company's annualized net revenue to about $2.6B, it said. It's reaffirmed estimated annualized synergies from cost savings at $75M, with about $10M to be reinvested in growth plans.
- The deal's expected to be immediately accretive to 2016 earnings.
- After hours: LNCE flat.
Thu, Jan. 28, 11:14 AM
- Diamond Foods (DMND -7%) and Snyder's Lance (LNCE -9.5%) are both sharply lower after the companies set dates to vote on their proposed merger. The scheduling of the vote is a signal that the FTC and SEC have completed their initial review of the deal.
- Snyder's also disclosed it expects to report full year revenue of $1.66B.
- SEC Form 14a
Dec. 9, 2015, 4:08 PM
- Diamond Foods (NASDAQ:DMND): FQ1 EPS of $0.28 misses by $0.02.
- Revenue of $224.8M (-8.8% Y/Y) misses by $9M.
Oct. 29, 2015, 12:34 PM
- Diamond Foods (DMND +5%) and Snyder's-Lance (LNCE +7.5%) are both higher in mid-day trading.
- The merger of the two companies is seen by some analysts as giving the combined entity more clout with retailers.
- Diamond Foods still trades a little shy of the $40.46/share equivalent takeover price.
- Previously: Snyder's-Lance acquires Diamond Foods in $1.9B deal (Oct. 28 2015)
Oct. 28, 2015, 7:01 AM
- Snyder's-Lance (NASDAQ:LNCE) announces it will acquires Diamond Foods (NASDAQ:DMND) in a deal valued at $1.9B.
- Diamond shareholders will receive $12.50 per share and 0.775 shares of Snyder's-Lance at closing.
- The deal has the backing of large Diamond shareholder Oaktree Capital
- The merger is expected to kick up synergy benefits as high as $75M in annual cost savings.
- Previously: Food sector M&A seen picking up (Oct. 23 2015)
- DMND +11.78% premarket to $39.00.
Oct. 23, 2015, 9:58 AM
- M&A talk in the food sector could set off a chain reaction, according to analysts.
- Kellogg's (K +0.2%) interest in Diamond Foods (DMND +6.6%) and a play by Treehouse Foods (THS +3.1%) for Ralcorp are in advanced stages, but other companies which could be drawn into talks include Boulder Brands (BDBD +0.5%), Amplify Snack Brands (BETR +1.7%), Mondelez International (MDLZ -0.1%), Campbell Soup (CPB +0.1%) and Hain Celestial Group (HAIN +0.4%).
- Private-label brands in particular may look appetizing to larger food companies.
- Previously: Reuters: TreeHouse in talks to buy Ralcorp from ConAgra (Oct. 22 2015)
- Previously: NY Post: Kellogg close to Diamond Foods buyout (Oct. 23 2015)
- Related ETF: PBJ
Oct. 23, 2015, 8:17 AM
Sep. 30, 2015, 7:59 AM
- Diamond Foods (NASDAQ:DMND) trades lower after posting a mixed FQ4 report and issuing profit guidance just a shade short of estimates.
- Margins improved during FQ4 on a favorable shift in mix and lower ingredient costs.
- The company sees FY16 EPS of $1.21 to $1.32 vs. $1.27 consensus.
- Previously: Diamond Foods beats by $0.02, misses on revenue (Sep. 29 2015)
- DMND -2.68% premarket to $30.50.
Sep. 29, 2015, 5:40 PM
Sep. 29, 2015, 4:11 PM
- Diamond Foods (NASDAQ:DMND): FQ4 EPS of $0.23 beats by $0.02.
- Revenue of $201.81M (-7.9% Y/Y) misses by $8.28M.
Sep. 29, 2015, 4:00 PM
- The food sector has been upturned by a DealReporter story indicating that a deal might not be worked out for the private label business of ConAgra. A number of food stocks have a M&A premium built into their share price which has added to volatility over the last few months.
- Post Holdings (POST -10%), Pinnacle Foods (PF -5.2%), Treehouse Foods (THS -2.7%), B&G Foods (BGS -2.1%), Diamond Foods (DMND -2%), and Flower Foods (FLO -2.4%) are all lower on the day.
Sep. 28, 2015, 5:35 PM
Sep. 24, 2015, 10:13 AM
- Diamond Foods (NASDAQ:DMND) flies in early trading after DealReporter reports the company hired Credit Suisse to help it explore a sale.
- Shares of DMND are up 7.4% on heavy volume to reach their highest level in more than a month.
Jun. 5, 2015, 8:17 AM
- Shares of Diamond Foods (NASDAQ:DMND) trade higher after the company reports FQ3 EPS ahead of expectations.
- The company improved gross margin rate to 28.5% from 23.6% as price realization in some categories improved.
- Diamond Foods lifted its view on 2015 EPS to $1.00-$1.10 vs. $0.95-$1.10 prior and $1.04 consensus.
- Previously: Diamond Foods beats by $0.08, misses on revenue (Jun. 04 2015)
- DMND +3.52% premarket to $29.99.
Jun. 4, 2015, 5:35 PM