Martinne's Feed
Oct 31, 2012

U.S. East Coast reels from massive, deadly storm

NEW YORK, Oct 30 (Reuters) – Millions of people faced epic
flooding and lengthy power outages on Tuesday after the massive
storm Sandy wreaked havoc in much of the eastern United States
with high winds and heavy rains.

The storm killed at least 45 people, including at least 18
in New York City, and insurance companies started to tally
billions of dollars in losses.

Oct 31, 2012

New Yorkers take Sandy travel challenges in stride

NEW YORK (Reuters) – With New York City’s subway system paralyzed by Sandy’s crippling blow, millions of commuters are rethinking how they will get to work this week, and they are taking it one step at a time.

The storm, which killed 23 people in New York state, closed roads and bridges and flooded tunnels, garages and rail yards, dousing the nation’s largest mass transit system with saltwater, which is corrosive to its electrical system.

Oct 31, 2012

East Coast crippled by massive storm, death toll climbs

NEW YORK (Reuters) – Millions of people were left reeling in the aftermath of the whipping winds and heavy rains of the massive storm Sandy on Tuesday as New York City and many parts of the eastern United States struggled with epic flooding and extensive power outages.

The storm killed at least 40 people, including at least 18 in New York City, and insurance companies started to tally billions of dollars in losses.

Oct 30, 2012

U.S. East Coast crippled by gigantic storm, 30 dead

NEW YORK, Oct 30 (Reuters) – Millions of people were left
reeling in the aftermath of the massive storm Sandy on Tuesday
as New York City and a wide swathe of the eastern United States
struggled with epic flooding and extensive power outages. The
death toll climbed to at least 30.

Sandy, which crashed ashore with hurricane-force winds on
Monday near the New Jersey gambling resort of Atlantic City as
the biggest storm to hit the country in generations, swamped
parts of New York’s subway system and Manhattan’s Wall Street
district, closing financial markets for a second day.

Oct 26, 2012

Shares of WhiteWave open at $19

By Olivia Oran and Martinne Geller

(Reuters) – WhiteWave Foods Co (WWAV.N: Quote, Profile, Research, Stock Buzz) shares rose almost 12 percent in their New York Stock Exchange debut on Friday, as investors bet on the growth of the organic foods sector.

Shares of the Dallas, Texas-based Dean Foods Co (DF.N: Quote, Profile, Research, Stock Buzz) spinoff opened at $19, up 11.8 percent, after pricing at $17, above the expected range. WhiteWave sold 23 million shares in an upsized deal, raising $391 million in its initial public offering.

Oct 25, 2012

Energy drink caffeine levels often stray from labels: study

By Martinne Geller

(Reuters) – Energy drinks do not always divulge how much caffeine they contain, and when an amount is listed on a label, it is not always accurate, Consumer Reports magazine has found.

According to a study released on Thursday by the magazine, 11 of the 27 top-selling energy drinks in the United States do not specify the amount of caffeine in their beverages.

Oct 24, 2012

Best Buy warns on profit; U.S. unit head to leave

By Dhanya Skariachan and Martinne Geller

(Reuters) – Retailer Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) on Wednesday warned earnings and same-store sales would fall for its fiscal third quarter, and said the head of its U.S. business will leave as it starts to restructure under a new chief executive.

Best Buy shares fell 6 percent in after-hours trading. The news came less than a month before the unofficial start of the biggest selling season of the year.

Oct 24, 2012

Cerberus bid for Supervalu seen as prelude to breakup

NEW YORK, Oct 24 (Reuters) – A sale of Supervalu Inc
heralds an eventual break-up of the far-flung supermarket
operator, with its diverse brands and assets sold to rival
supermarket chain operators and private equity firms, according
to people familiar with the matter.

Buyout firm Cerberus Capital Management is preparing a
takeover bid for the third-largest U.S. supermarket chain, with
an eye toward divesting the troubled company’s assets to several
parties only interested in pieces, the people said.

Oct 22, 2012

FDA probes deaths for links to Monster energy drink

By Martinne Geller

(Reuters) – The Food and Drug Administration said on Monday that it was investigating reports of five deaths that may be associated with Monster Beverage Corp’s energy drink, and the company’s shares fell more than 14 percent.

Monster is also being sued by the family of a 14-year-old girl who died after drinking two cans of its Monster Energy drink in a 24-hour period.

Oct 22, 2012

Cerberus working on bid for Supervalu: sources

By Martinne Geller and Soyoung Kim and Olivia Oran

(Reuters) – Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc (SVU.N: Quote, Profile, Research, Stock Buzz) and has held talks with lenders to line up financing, according to three sources familiar with the matter.

Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up more than 40 percent on Monday.