Roundup: Icahn discloses new stake in Family Dollar; UPMC expands in Italy; more
Icahn discloses 9.4% stake in Family Dollar Stores
Billionaire activist investor Carl Icahn has acquired a 9.4 percent stake in Family Dollar Stores and is urging the discount retailer to explore ways to boost its value. Shares of the Matthews, N.C., company jumped more than 10 percent in after-market trading. In a regulatory filing, Icahn says he owns nearly 10.7 million shares of Family Dollar. Based on its closing price Friday of $60.53, the stake is worth $647.1 million. Family Dollar's low-income shoppers are still struggling as the economic recovery wears on, and its stock is down in the past year while the broader markets are booming. The company said in April it will close 370 under-performing stores and permanently cut prices on about 1,000 basic items. Family Dollar Stores Inc. officials weren't immediately available to comment late Friday.
UPMC expands operations in Italy
UPMC is expanding operations in Italy with an outpatient diagnostic center that is expected to open on Monday in Tuscany. The center, which adds to UPMC transplant and cancer treatment facilities in the country, will offer diagnostic screenings and imaging for liver and digestive disorders, heart disease, diabetes and other diseases. The cost of the center was not disclosed by UPMC, which also has operations or services in Ireland, India, Canada, China, Singapore, Japan and Kazakhstan.
‘Dark pool' broker to pay $2M to settle SEC case
A brokerage firm that operates a so-called “dark pool” trading system has agreed to pay $2 million to settle federal civil charges of using customers' confidential trading data to market its services. The settlement between Liquidnet Inc. and the Securities and Exchange Commission was announced on Friday, a day after SEC Chair Mary Jo White proposed rules that could bring closer oversight of high-speed trading and dark trading pools, which account for as much as 35 percent of trades. Unlike public stock exchanges, dark pools are private, off-market platforms that offer limited information about participants or operations. The SEC said Liquidnet improperly gave access to confidential trading information to a brokerage unit outside its dark pool from 2009 to late 2011.
Wal-Mart CEO: Speed up pace of change
Wal-Mart CEO Doug McMillon said the world's largest retailer's task is to bring e-commerce together with physical stores more quickly to better serve shoppers. At Wal-Mart Stores Inc.'s annual shareholders meeting on Friday, McMillon talked about a service that Wal-Mart offers at its Asda.com website in the United Kingdom, in which customers can order groceries online and then pick them up from trucks at various pickup points. He also showed off miniature figures of executives to illustrate how some Wal-Mart stores have been using 3-D printers to make miniature figurines for customers in the U.K.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Donora-Webster Bridge plunges into Mon River after 107 years
- Pirates grind out extra-inning win against testy Tigers
- Union to work while ATI talks continue
- Shopping season starts up for Penguins amid onset of free agency
- ‘We are’ chant now a permanent fixture on Penn State campus
- In historic vote, Legislature approves bill selling state liquor stores
- Pa. could ease restrictions on fireworks, reaping big bang in taxes
- Penguins notebook: Sheary hoping to return to organization
- 1 killed, 4 hurt as police chase ends in Oakland crash
- Regatta moving bands off Barge Stage
- Shareholders approve Heinz, Kraft merger