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U.S. Morning Call: Smithfield parts greater than whole

Monday, June 17, 2013 - 03:18

Jun 17 - Starboard Value is pressuring Smithfield Foods to consider a break-up versus a planned $4.7B takeover by Chinese meat processor Shuanghui International, saying a broken-up company could be worth more

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Let's kick off your morning call for Monday an activist investor is putting pressure on Smithfield. To break up the company rather than sell to a Chinese food giant. According to -- Wall Street Journal starboard value is making the case that a broken up field. Could be as much as 55 dollars per share well above the 34 dollar offer by China -- international. Starboard has some clout it owns five point 7% from the field and is currently the largest shareholder. Surpassing Vanguard Group. Yeah I did split does not starboard original in April continental group of large shareholder at the time. Had proposed the pork producers split into three companies. After the bid from away. Continental dropped its proxy fight canceled and tires stay Smithfield shares are loving all the attention there op over 2% in the premarket. -- we've got some stocks to watch starting with Samsung which plans to sell a faster version of the galaxy S -- Smart and it's LTE advanced network will pump data at nearly twice the normal speed. No word yet on whether the new passport also did not change your baby's diaper did not -- to help the battered stock well now. Remember earlier this month analysts cut forecasts for galaxy -- -- sales by as much as 30%. After data showed the highest Smartphone market is getting saturated. Sampson has lost almost twenty billion dollars in market value since then. Sampson archrival apple also in the news this morning over this bank scandal. Apple said in the last six months it received nearly 5000 requests for customer data from the US law enforcement officials. Apple which prides itself on high privacy standards -- you just conversations on my message and space time or protected. Microsoft and FaceBook published some data last week. And -- not to watches Biotech big daddy engine the stock is up 43%. Over the past year. And parents said against rise another 20%. 2120 dollars. -- notes that and it has approved twelve billion dollars in stock buybacks. Initiated dividend and raise twice in the past two years and that we figured to make it darling for at least a little while longer. US stock futures point to a higher open today and -- filled week. The dollar firming up at a yankees -- starting at two day meeting tomorrow. Investors also closely watched the US bond market yields have backed off their highs of last week. Optimism in stocks today seen only global even an OK it was up off the nine month low when it was slaughtered last week. All of this as the G-8 meets in NORTHERN IRELAND the conversations expected to focus more on Syria and overall foreign policy and the global economy. That's it clear Monday morning call remembered follow us on Twitter at Reuters Insider and get more great media at Reuters dot com slash Reuters -- I was super.

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U.S. Morning Call: Smithfield parts greater than whole

Monday, June 17, 2013 - 03:18