Consumer Business Recap: P&G’s BLOCKBUSTER, Nike Takes CHINA
Shares of Procter & Gamble (NYSE:PG) are on fire Thursday following a transaction from Pershing Square that wins an FTC early termination status to move forward with a position in the former. Two schools of thought emerge, with thumbs-up partisans claiming that P&G benefits if Ackman uses his influence to push the firm to spin off brands, while the thumbs-down crew concentrates on Pershing Square’s souring investment in J.C Penney. Pershing held no shares of P&G at the end of March, according to its first quarter SEC filing.
Comcast (NASDAQ:CMCSA) will purchase Microsoft’s (NASDAQ:MSFT) investment in MSNBC.com, say reports. Such a deal has been rumored even since Comcast acquired NBC in 2009; if the purchase takes place this time, Comcast is expected to rebrand MSNBC.com as NBCNews.com.
Good news for Nike (NYSE:NKE), as it continues to successfully battle local rivals in China due to shoppers in that country exhibiting a sustained preferences for foreign brands. Part of Nike’s advantage is its ability to remain relevant with buyers while it sponsors popular figures such as NBA star Jeremy Lin, at a time when Chinese sports brands stay locked to less engaging figures.
Target (NYSE:TGT) is currently ahead in the Retailers’ Invasion Of Canada, as it releases a full list of the locations where it expects to open 125 stores in 2012, and also promises that it will confirm the sites for 2014 stores later this year.
Investing Insights: Mattel’s Second Quarter Earnings Sneak Peek.
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