Mon, May 18, 1:07 PM
- Societe Generale is out with a note in which it dissects the impact of higher interest rates on stocks.
- The investment firm notes the Consumer Staples ETF (NYSEARCA:XLP) boasts a dividend yield of 2.5% which becomes less attractive as rates march upward.
- Individual consumer staples stocks identified by SG as having the strongest correlation to swings in the 10-year Treasury yield are Colgate-Palmolive (NYSE:CL), Costco (NASDAQ:COST), McKesson (NYSE:MCK), and Brown-Forman (BF.A, BF.B).
- Consumer Staples ETFs: VDC, FXG, RHS, FSTA, PSL, PSCC.
Fri, May 15, 12:40 PM
- Dan Loeb's Third Point LLC exited its 10M-share Alibaba (BABA - unchanged) position in Q1, after having upped its stake in the Chinese e-commerce giant in Q4. (13F filing)
- The firm also unloaded its 7M-share position in EMC (EMC -0.1%), which confirmed during the quarter it doesn't plan to spin off VMware, and a 4M-share stake in Williams (WMB +1.3%).
- A 3.3M-share stake was taken in Yum Brands (YUM +3.6%), a 900K-share stake in FedEx (FDX +0.7%), a 1.15M-share stake in J.M. Smucker (SJM -0.1%), and a 626K-share stake in McKesson (MCK). Loeb also respectively took 1.6M-share and 3.5M-share stakes in chipmakers NXP (NXPI +0.2%) and Maxim (MXIM +0.4%).
- Stakes were increased in Delta Air Lines, Actavis, FleetCor, and Roper Technologies, and decreased in Amgen, Ally Financial, eBay, Phillips 66, and Anheuser Busch. Interestingly, a modest 90K-share position was taken in top Alibaba rival JD.com (JD -0.8%).
- Meb Faber observes someone tracking Loeb's top 10 picks since 2000 would have obtained a 12.4% annual return since 2000 (504.8% overall), soundly beating the S&P 500's 4.4% (95.4% overall).
Tue, May 12, 4:13 PM
Tue, May 12, 9:28 AM
Mon, May 11, 5:35 PM
Fri, May 1, 9:53 AM
- U.S. drug wholesaler McKesson (MCK +0.2%) settles investigations from several federal agencies, including the Department of Justice, over suspicious order reporting practices for controlled substances.
- The settlement requires the firm to pay a $150M fine and suspend the registrations of at least three distribution centers for two years. The suspensions will not affect product supply to any customer.
- The company's Landover, MD distribution center is still being investigated for its activities regarding controlled substances.
- McKesson accounted for the settlement in its fiscal year ended March 31.
Thu, Apr. 30, 4:08 PM
- According to Bloomberg, the list of firms that have indicated an interest in Omnicare (NYSE:OCR) include Express Scripts (NASDAQ:ESRX), CVS Health (NYSE:CVS), Walgreens Boots Alliance (NASDAQ:WBA) and McKesson (NYSE:MCK). Initial bids for the $8.5B market cap firm are due in May.
- Previously: Omnicare reportedly exploring sale; trading halted (April 22)
- Previously: Omnicare buyer would need to pay $95/share - UBS (April 23)
Fri, Apr. 17, 10:39 AM
- Heinz is making a big push into mustard in the U.S.
- The Berkshire/3G company has launched its "Ketchup's Got a New Mustard" campaign with a strong focus on its mustard product's use of 100% natural ingredients.
- Heinz and Kraft have a merger in the works that will give the combined company a big slice of the condiments market.
- Major U.S. mustard sellers: Reckitt Benckiser (OTCPK:RBGLY, OTCPK:RBGPF), Kraft Foods (NASDAQ:KRFT), ConAgra (NYSE:CAG), and McCormick (NYSE:MCK).
Mon, Mar. 9, 3:34 PM
- Privately-held Intelligent Hospital Systems (IH Systems) acquires AmerisourceBergen Technology Group (ABTG) for an undisclosed sum. The combined companies will operate under the name ARxIUM.
- The new organization will be the most integrated pharmacy technology firm in the industry. Top products include IH Systems' RIVA technology, the only fully automated IV compounding system on the market, and ABTG's workflow and scheduling software.
- ARxIUM will operate out of Winnipeg, Manitoba and Buffalo Grove, IL.
- Related tickers: (ABC +1.3%)(MCK +0.5%)(CAH +1.2%)
Fri, Feb. 6, 5:37 PM
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Thu, Feb. 5, 4:17 PM
Wed, Feb. 4, 5:35 PM
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Wed, Jan. 28, 4:40 PM
Mon, Jan. 26, 7:12 AM
- Under the agreement, Cardinal Health (NYSE:CAH) will carry and distribute NovaBay's (NYSEMKT:NBY) Avenova, a prescription lid and lash hygiene product for the management of eye conditions such as blepharitis, Meibomian gland dysfunction and associated dry eye, to independent and retail chain pharmacies.
- Combined with NovaBay’s previous distribution agreements with McKesson (NYSE:MCK) and Vision Source, Avenova will now be available to about 90% of U.S. retail pharmacies.
- Source: Press Release
Tue, Jan. 20, 9:05 AM
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