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$BGS agreed to buy spices and seasonings business of ACH Food Companies. As this will be structured as asset purchase, $BGS expects to realize about $83MM in tax benefits on net present value basis. At midpoint of $BGS' 2017 projected adjusted EBITDA, acquisition represents purchase price multiple of about 9.4 times adjusted EBITDA.
$PYPL jumps 6% in after hours on strong results. I am bullish on this stock.
$TSCO stock remained active in the after hours trading and rose more than 2% after the retailer posted better than expected 1Q17 results.
Instagram has reached 700 million monthly active users. Looks like it will hit 1 billion soon. That would make it $FB’s fourth billion-user platform.