SUPERVALU INC. (NYSE: SVU), the food stores operator agreed to sell its five retail grocery banners to Cerberus-led investor group for $3.3 billion and the company named Sam Duncan as its CEO. SUPERVALU INC. (SUPERVALU) is a United States grocery channel. It operates in two segments: Retail food and Independent business. The Company leverages its distribution operations by providing wholesale distribution and logistics and service solutions to its independent retail customers through its Independent business segment. The Retail food segment derives revenues from the sale of groceries at retail locations operated by the Company, and the Independent business segment derives revenues from wholesale distribution to independently-owned retail food stores and other customers.
North American Palladium Ltd (USA) (NYSE: PAL), a precious metal producer, was up sharply in mid-day trading in the last trading session. At last check, PAL was trading 5.03% higher at $1.67 on volume of 2.52 million, which is well above the daily average volume of 2.19 million. The stock hit an intra-day high of $1.69 in trading. North American Palladium Ltd. (NAP) is a precious metals producer that has been operating its flagship Lac des Iles mine (LDI) located in Ontario, Canada. NAP also operates the Vezza gold mine located in the Abitibi region of Quebec. The Company is in the business of exploring and mining palladium, platinum, gold and certain base metals. NAP operates in three segments: palladium operations include the LDI palladium mine and mill; gold operations include the Sleeping Giant gold mine and mill; and corporate and other.
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