We have avoided shares of GPS since our early June coverage began and the stock was trading at $17.17. The company has a 2.60% dividend yield, based on Friday's closing stock price of $13.06. The stock has technical support around the $7 level. If the shares can manage a turnaround, we see overhead resistance at the $15-17 mark. We would remain on the sidelines for now. Gap Stores is not recommended at this time, holding a Dividend.com Rating of 2.9 out of 5 stars.
CF's board of directors recommended that shareholders reject Agrium's latest offer, which was recently raised to $35 per share, plus one share of Agrium stock for every share of CF stock. CF's board concluded that Agrium's offer was "grossly inadequate, substantially undervalues CF Industries, and is not in the best interests of CF Industries and its stockholders." Instead, CF said it plans to continue with its own takeover bid for Terra Industries ( TRA). CF Industries CEO Stephen R. Wilson said that, "We are confident that both our stockholders and Terra's stockholders support our proposed business combination." Terra's board of directors is set to vote on the proposed buyout on May 15 during its annual meeting.
CF Industries stock fell $3.31, or 4.52%, in afternoon trading Monday, part of a broad market decline. CF Industries Holdings is not recommended at this time, holding a Dividend.com Rating of 2.9 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.