This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Friday's Winners & Losers: Rare Hospitality

Updated from 2:19 p.m. EDT

Rare Hospitality (RARE) was among the Nasdaq's biggest winners Friday, with shares soaring 35.9% after the restaurant owner agreed to be acquired by Darden Restaurants (DRI - Get Report).

Darden, owner of chains such as Red Lobster and Olive Garden, will pay $38.15 a share for Rare, a 39% premium over the stock's closing price Thursday. The deal values Rare, operator of the LongHorn Steakhouse and Capital Grille chains, at $1.4 billion including debt. The transaction is expected to close in October.

Shares of Rare closed up $9.87 to $37.38. Darden shares slipped $1.03, or 2.6%, to $38.93.

Shares of Whole Foods (WFMI) jumped 7.6% after a judge ruled that it won't block the grocer's purchase of rival Wild Oats (OATS). The Federal Trade Commission had sought to halt the deal under the belief that it would create a natural-foods monopoly.

The FTC said Friday afternoon that it will appeal the judge's decision and seek an emergency stay to stop the $565 million merger. Still, shares of Whole Foods closed up $3.13 to $44.30, while Wild Oats closed up $2.71, or 17.8%, to $17.92.

Outside of deals, Kohl's (KSS - Get Report) closed 8% higher after posting better-than-expected earnings and lifting the bottom end of its guidance. The retailer posted a second-quarter profit of $269.2 million, or 83 cents a share, topping its own forecast for EPS of 81 cents to 85 cents. Analysts polled by Thomson Financial projected earnings of 82 cents a share.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BSX $16.54 -2.50%
DRI $62.64 -2.40%
RARE $59.19 -0.05%
KSS $73.44 -0.22%
WNS $24.60 -2.30%

Markets

DOW 17,833.18 -302.54 -1.67%
S&P 500 2,070.95 -30.09 -1.43%
NASDAQ 4,926.5250 -56.2840 -1.13%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs