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Family Dollar Sinks as Carl Icahn Predicts Setback in Merger Move


Shares of Family Dollar tumbled on Friday making it TheStreet's Moves of the Day. The embattled Family Dollar took a hit after activist hedge fund investor Carl Icahn reportedly said that the announced retirement by Dollar General CEO Rick Dreiling would be a setback for investors who want to see a speedy merger between the competing discount retailers. Icahn told Reuters on Friday: "We believe Family Dollar and Dollar General should merge as they would make for perfect partners. It is obvious that Family Dollar, especially in light of its record and the looming competition on the horizon, could use a partner." Family Dollar early Thursday also reported fiscal third-quarter earnings that missed analysts expectations by 4 cents at 85 cents a share.