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Dole Food Company, Inc. (DOLE) is, at the time of this writing, down 76 cents to $9.98. That's a loss in value of 7%. The company had posted its Q1 numbers after the bell on Monday. The market is obviously not infatuated with them today.
According to the press release, adjusted EBITDA dropped to $85 million from $122 million. Net cash from operating activities plunged to $19 million from $39 million. These are not attractive statistics. A bad market environment in Europe and Asia apparently hurt the performance of fresh fruit.
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FeedDole Food: Sell After Q1?
Closing Bell: Losing the DJIA 10K (AMZN, BIIB, BRCM, COF, DOLE, MSFT, SPWRA)
This was the day that could have been. Earnings were coming out favorably, yet the data just couldn't support the stocks. There were also trader comments that BofA/Merrill had large sell orders or sell programs throughout the day. It looks like the DJIA even closed out under the 10,000 mark on an unofficial basis. Here were today's unofficial closing bell levels:
Dow 9,974.75 -106.56 (-1.06%)
S&P 500 1,079.73 -13.18 (-1.21%)
Nasdaq 2,154.47 -10.82 (-0.50%)
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Continue reading Closing Bell: Losing the DJIA 10K (AMZN, BIIB, BRCM, COF, DOLE, MSFT, SPWRA)
Dole files for an IPO ... again
At the age of 86, David Murdock has a storied career in Corporate America. In 1982, he became the CEO of Flexi-Van Leasing (a company he now owns). Then a few years later, he became the CEO of Dole. And by the mid 1990s, he came on board as the CEO of Castle & Cooke.
Keep in mind that Murdock didn't even finish high school.
So, is he thinking of finally taking some time off? Not at all. In fact, he has filed to take Dole Food public.
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