Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of milk magnate Dean Foods
So what: It was a news-heavy day for Dean Foods, as the company announced a senior debt offering, an antitrust lawsuit settlement, and a new chief accounting officer. And just for good measure, the company also affirmed its fourth-quarter outlook. Dean will be offering $400 million in new senior notes, and while we don't know what they'll cost the company yet, the offering, along with looser debt covenants, inspired Standard & Poor's to raise its rating outlook on Dean from negative to stable. Meanwhile, the company may be close to clearing up the overhang from a class-action antitrust lawsuit in Vermont, as it agreed to pay $30 million to settle.
Now what: Investors at Dean Foods needed some good news in a bad way, because the company has been facing pricing pressures from stores such as Wal-Mart and Kroger
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