Wednesday, March 25, 2015

March 24 Wednesday Notes

KFX: 45%, 12m - takeover
KRFT: 33%, 11.5m - takeover
LXK: 6.5%, 30.3k - taking over KFX
GPRO: 4%, 80k
GRPN: 2.1%, 50k
BP: 1.3%, 76k
MRK: 1.1%, 16k - $10b buyback

APOL: -16.5%, 139k - earnings
NSM: -9%, 107k -  17.5m secondary
ENLK: -9%, 1.1m - secondary
BIDU: -2.4%, 58k - issue in China with medical ads
ACHN: -2%, 5.3k
TSLA: -1.7%, 60k - d/g from CLSA
QIHU: -1.6%, 14k - see bidu note
SUNE: -1.5%, 6.3k

The big news this AM, from
Kraft Foods Group Inc. KRFT, +33.73%  shares surged more than 30% premarket after Kraft and H.J. Heinz Co. on Wednesday said they will merge. The newly created Kraft Heinz Co. will become the third-largest food and beverage company in North America. Warren Buffett’s Berkshire Hathaway Inc. BRK.B, +1.07%  and 3G Capital, which together own Heinz, will invest around $10 billion to back the new entity.

Possible KRFT sympathy plays: CPB, WWAV, MDLZ, GIS, K

In lesser takeover news, LXK is buying out KFX at a 45% to KFX last closing price. LXK is up 6.5% on the news

Yesterday quasi-recap:

I was out so I missed some good action yesterday in TWTR, JD and BTU. Also had late day MRK call buys, an hour before Co. announced huge buyback plans.

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