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LDK Solar Gets Toasted, Supervalu Squashed

This article is more than 10 years old.

An affiliate of private investment firm Cerberus Capital Management announced on Tuesday that it ended its takeover attempt of BlueLinx Holdings . The affiliate stated that this was done because a condition of its tender offer wasn't met, sending shares lower by 20.5%.

Grocery store operator Supervalu announced on Tuesday that the tough economy and increased competition have had a negative impact on sales. Revenue was down nearly 9 percent to $8.7 billion, retail food sales were lower by nearly 10 percent to $6.7 billion, and supply chain services were lower by 4 percent to $1.96 billion. Shares fell 14.9%.

Shares of LDK Solar dropped 14.3% on news that China has raised interest rates, as well as concerns about U.S. complaints that China is subsidizing its solar sector.

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