US: Interstate shares slide despite cut losses
US wholesale bread and cake distributor Interstate Bakeries Corp's shares reportedly dropped by around 15% in one day despite slimmer losses in the past month.
Interstate, which manufactures Twinkies and Wonder Bread brands, reported a loss of US$7.5m for the four-week period that ended April 29.
This was an improvement on March this year, when the bankrupt bakery announced a loss of $15.2m in the four-month period compared to $10m in the comparable period last year.
However, the Kansas City Star Newspaper reported that, in heavy trading yesterday (15 June), Interstate's shares fell $1.15, or 14.74%, closing at $6.65.
Interstate Bakeries, the bankrupt maker of Twinkies and Wonder Bread, revealed that its monthly losses increased by 34% in October, with sales remaining flat....
Interstate Bakeries has asked to US Bankruptcy court to protect it from its largest shareholder's demands that it elect new directors....
Hedge fund Brencourt Advisors has filed a letter it sent to Interstate Bakeries Corporation with the US Securities and Exchange Commission (SEC) seeking the company to hold an annual shareholders meet...
This month, Interstate Bakeries' high-end brand Baker's Inn will increase the presence of its premium bread in stores across the US, extending the brand's reach since its launch two years ago....
The Securities and Exchange Commission said yesterday (2 November) that it will recommend deregistering Interstate Bakeries' stock if certain filings aren't made by the end of the year....
Interstate Bakeries, the maker of Twinkies and Wonder Bread, yesterday (13 September) reported rising losses for the four weeks ended 29 July when compared with the previous month....
Interstate Bakeries Corporation (IBC) has announced the appointment of William Mistretta as a director of the company....
One month after posting its largest profit since it filed for bankruptcy nearly two years ago, Interstate Bakeries has revealed that it took a step backwards in June, reporting losses of US$4.1m....
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