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Hershey Media Report 7/12/16
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Power Sheet
Jul 12, 2016 | Fortune
By Geoff Colvin, Ryan Derousseau
Resignation of a board member of the Hershey Co. Trust mentioned in the Fortune Power Sheet, which includes a daily round up of news. Relevant portion pasted below. -
Hershey Trust Board member Joan Steel resigns
Jul 12, 2016 | Lancaster Online
The board of the Hershey Trust Co. says that Joan Steel is resigning. Kent Jarrell, a spokesman for the Hershey Trust Board, said Monday that Steel, a board member since 2012, resigned and did not give a reason. He said the board will seek a replacement but can perform its duties with nine members. -
Stocks Grab Market Attentions- Fiat Chrysler Automobiles (NYSE:FCAU), Mondelez International (NASDAQ:MDLZ)
Jul 12, 2016 | Seneca Globe
Mondelez International, Inc. (NASDAQ:MDLZ) [Trend Analysis] swings ardently in active trading session, it falls of -0.54% to close at $45.85. Joan Steel reported that it has reinked from the board of the Hershey Trust Co., the $12 billion charity that controls about 80 percent of the voting shares in the Hershey chocolate firm, which Mondelez International Inc. tried to takeover last month.
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Jul 12, 2016 | Fortune
By Geoff Colvin, Ryan Derousseau
Joan Steel, who has served on the Hershey Trust board, which is the largest controlling shareholder of Hershey, stepped down without stating a reason over the weekend. It's the fourth person to step away from the board since late 2015 and it comes as Irene Rosenfeld's Mondelez seeks to merge with the chocolate giant. There are nine board members remaining, which is enough for a quorum, but it's unclear how Steel's resignation could affect the discussions.
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Hershey Trust Board member Joan Steel resigns
Jul 12, 2016 | Lancaster Online
The board of the Hershey Trust Co. says that Joan Steel is resigning.
Kent Jarrell, a spokesman for the Hershey Trust Board, said Monday that Steel, a board member since 2012, resigned and did not give a reason. He said the board will seek a replacement but can perform its duties with nine members.
The trust controls a majority of the voting shares of chocolate and candy maker Hershey Co.
Hershey last month rejected an acquisition offer from Mondelez International that valued the company at $107 per share, about $22.3 billion. Hershey shares traded 56 cents lower at $110.14 on Monday.
The trust, which oversees the majority stake in The Hershey Co., was established to benefit the Milton Hershey School for disadvantaged children.
The state attorney general's office is investigating the trust for potential corruption and violations of a 2013 agreement, and the school is facing a number of lawsuits.
The Philadelphia Inquirer reports that besides Steel, three trust board members have resigned since late 2015, including John Fry, Drexel University's president and former Franklin & Marshall College president.
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Jul 12, 2016 | Seneca Globe
Fiat Chrysler Automobiles N.V. (NYSE:FCAU) [Trend Analysis] considering as most desiring stocks in active trading lead, shares jumped up following opening to traded at $6.39 with volume of 6.86 Million shares. Levi & Korsinsky make public it has commenced an examination of Fiat Chrysler Automobiles N.V. (FCAU) concerning possible infringement of federal securities laws by the Firm and/or certain of its officers and directors.
On January 12, 2016, a civil court case was filed against the Firm, alleging that the Firm had inflated the number of year over year sales reported. Then on January 15, 2016, the Firm filed a Form 6-K acknowledging that a court case had been filed against FCA US LLC. As a result of these disclosures, Fiat Chrysler stock fell over 15% among January 12, 2016 and January 20, 2016, representing an approximate $1.67 billion loss to the stock’s market capitalization.
FCAU is ahead its 52-week low with 17.25%and going down from its 52-week high price with -61.55%. The firm’s shares performance for the last one month was -10.63% and 2.40% in the previous week.
Mondelez International, Inc. (NASDAQ:MDLZ) [Trend Analysis] swings ardently in active trading session, it falls of -0.54% to close at $45.85. Joan Steel reported that it has reinked from the board of the Hershey Trust Co., the $12 billion charity that controls about 80 percent of the voting shares in the Hershey chocolate firm, which Mondelez International Inc. tried to takeover last month.
Steel, a member of the board since 2012, quit over the weekend and gave no reason for leaving, according to Kent Jarrell, a spokesman for the Hershey Trust. The move comes less than two weeks following Hershey Co. rejected the takeover offer from snack giant Mondelez, the maker of Oreos.
The trust, which has faced allegations of lavish spending by board members in recent years, controls the fate of the maker of Hershey Kisses and Reese’s Peanut Butter Cups through its voting shares. Established in the early 1900s by Milton Hershey, the organization runs a school for low-income students and oversees the Hershey Entertainment & Resorts firm.
The stock price of firm is moving up from its 20 days moving average with 4.05% and remote isolated positively from 50 days moving average with 4.05%.
Moving toward the volatility measures, the price volatility of stock was 1.69% for a week and 2.12% for a month as well as price volatility’s Average True Range for 14 days was 0.94. The beta, which indicates risk in relegation to the market, remained 0.80. The firm past twelve months price to sales ratio was 2.54 and price to cash ratio remained 53.77.
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