Susser Holdings CorporationNYSE
Aug. 29, 2014, 2:58 PM
- Energy Transfer Partners (ETP +0.2%) says it completed its deal to acquire Susser Holdings (NYSE:SUSS), which will ultimately bring the Stripes and Sunoco convenience stores under the same umbrella.
- ETP gains ownership of more than 640 convenience stores in Texas, New Mexico and Oklahoma; geographically, the deal compliments ETP's earlier acquisition of Sunoco, which has a major presence in the eastern and southeastern U.S.
Aug. 23, 2014, 7:58 AM
- Joel Greenblatt made investors fortunes at his hedge fund 30 years ago by holding a highly concentrated basket - six to eight names - of deep-value stocks, but his approach today is somewhat different: Buy more than 300 high-quality stocks trading at cheap prices and short more than 300 expensive, lower-quality names. Stocks are weighted in the portfolio depending on where they rank along that spectrum.
- Greenblatt: "[My partner] and I would wake up some days and lose 15% or 20% of our net worth ... now it's more like 15 or 20 basis points."
- The strategy is also available in a trio of mutual funds Greenblatt's Gotham Asset Management offers, and they now account for more than half of Gotham's $7B in AUM.
- A top position last year remaining a large holding after a big run higher is Apple, thanks to "huge returns on capital" and 11% earnings yield. As for Apple's future, Greenblatt will leave that for others to debate: "I don't own just Apple. I own a bucket of companies like Apple, and over time, I know my bucket is going to work."
- Top 5 long holdings now: ENR, SAFM, BG, AXE, CAT.
- Top 5 short holdings now: SUSS, THC, BOBE, KMT, TMO.
Aug. 8, 2014, 6:03 AM
- Susser Holdings (NYSE:SUSS): Q2 EPS of $0.66 misses by $0.27.
- Revenue of $1.87B (+20.6% Y/Y) beats by $80M.
Aug. 7, 2014, 5:30 PM
Jun. 4, 2014, 2:59 PM
- Susser Petroleum Partners (SUSP -1%) is downgraded to Hold from Buy with a $47 price target at Benchmark, as it is still unclear as to how much SUSP will pay for the assets of Susser Holdings and Sunoco retail and wholesale operations.
- The analysts are concerned that with Energy Transfer Partners (ETP +0.9%) gaining control of SUSP, value could be transferred from SUSP unit holders to ETP unit holders, if ETP charges too much for the assets SUSP will acquire.
- SUSS +0.5%.
May 7, 2014, 6:17 AM
- Susser Holdings (SUSS): Q1 EPS of -$0.09 misses by $0.11.
- Revenue of $1.66B (+11.4% Y/Y) beats by $90M.
May 6, 2014, 5:30 PM
- AGN, ALE, AOL, ARIA, ARQL, ATRO, AVA, AYR, BAM, BUD, CHK, CLH, COT, CTSH, DUK, DVN, DWSN, DX, EE, ENB, END, FWLT, GTIV, GWPH, HNT, HTZ, HUM, INXN, KELYA, KING, LAMR, LGND, LINC, LMIA, MDLZ, MEMP, MZOR, NAVB, NJR, NTLS, NVDQ, POM, PRGO, QRE, RIGL, ROC, SBGI, SE, SEP, SFUN, SNSS, SPAR, SPB, STRA, SUSP, SUSS, TAP, THI, TLM, TMHC, TPC, TRGT, USAC, VOYA, VSI, WBAI, WPX, WRES, XEC.
Apr. 28, 2014, 12:48 PM
Apr. 28, 2014, 7:18 AM
- Under terms of the deal - unanimously approved by both boards - Susser (SUSS) owners can received either $80.25 in cash for 1.4506 ETP units for each share of Susser they own. Susser closed at $57.03 on Friday.
- Susser currently operates 630 retail convenience stores (Stripes) across Texas, New Mexico, and Oklahoma.
- Energy Transfer already has agreement from Susser shareholders representing 10% of the company to exchange their SUSS shares for ETP shares.
- Overall synergies between Stripes and Sunoco are expected to exceed $70M annually, and be realized within 6-12 months post-closing.
- CC at 8 ET
Feb. 26, 2014, 6:04 AM
- Susser Holdings Corporation (SUSS): Q4 EPS of $0.27
- Revenue of $1.54B (+10.0% Y/Y) beats by $40M.
Feb. 26, 2014, 12:05 AM
Feb. 25, 2014, 5:30 PM
Nov. 6, 2013, 6:11 AM
- Susser (SUSS): FQ3 EPS of $0.76 beats by $0.06.
- Revenue of $1.6B beats by $0.02B. (PR)
Nov. 6, 2013, 12:05 AM
Nov. 5, 2013, 5:30 PM
Aug. 7, 2013, 6:44 AM
- Susser (SUSS): Q2 EPS of $0.59 misses by $0.19.
- Revenue of $1.55B (+3.1% Y/Y) misses by $0.01B. (PR)