Stock number one is:
Dole Food Company Inc., (SYMBOL: DOLE) and the headline says: Dole agrees to be taken private after CEO Murdock raises offer -- Reuters
Dole Food Company has agreed to allow CEO David Murdock, who owns a 40% stake in Dole, to purchase all remaining Dole shares for $13.50 per share and assume all debt, thus taking the company private. Mr. Murdock previously took the company private in 2003 and took it public again in 2009.
The deal is expected to close in the fourth quarter. Current shareholders will likely make more money by selling into today’s rally and reinvesting in another growth opportunity, rather than letting their equity languish through the fourth quarter with no additional upside potential.
Our Ransom Note trendline says: SELL DOLE FOOD COMPANY.
Stock number two is:
J.C. Penney Co., Inc., (SYMBOL: JCP) and the headline says: Dear Board of Directors, Time is of the Essence! – Citi Research
Shares in J.C. Penney Company are hitting ten-year lows as hedge fund manager and Board member Bill Ackman urges the company to replace its Chairman, amid revolving-door changes in the CEO position. Ackman’s fund Pershing Square Capital Management owns nearly 20% of J.C. Penney stock, and Ackman is ironically driving the share price down with his high-profile activist agitation. But the agitation pales in comparison to the devastation Ackman could cause by selling his shares.
The company is projected to have annual net losses for at least another three years, and cash flow problems are severe.
We told investors to sell their shares in J.C. Penney five times this year. There is no honor in going down with this sinking ship.
Our Ransom Note trendline says..... SELL J.C. PENNEY.
Stock number three is:
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