CVS Soars with Analysts, Ford Sees Floormats Probe Raised: Consumer Business Recap
Analysts at Goldman Sachs believe that CVS Caremark Corporation (NYSE:CVS) shares still could grow further, even though they are presently near all-time highs. The analyst Matthew J. Fassler attended a recent CVS management meeting and came away with the idea that the conversation ”left us sober on the industry outlook, but we were impressed with the firm’s distinctive positioning and efforts.” Fassler believe that generics will lead margin growth across the sector in 2013 and also that CVS continues gaining share due partly to a dispute earlier in 2012 between Walgreen Co. (NYSE:WAG) and Express Scripts.
The National Highway Traffic Safety Administration has stepped up and widened an inquiry into sticking floormats in the Ford Motor Company’s (NYSE:F) Ford, Lincoln and Mercury vehicles that might cause sudden, unintended acceleration. The probe began in May of 2010 and now is upgraded to an engineering analysis, its highest and most serious level of investigation.
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The economic slowdown in Europe is impacting air-freight operators there as they endeavor to remain viable as their diminished ability to compete with the cargo space from carriers focused on passenger market takes its toll. Deutsche Lufthansa (DLAKF.PK) is idling planes while freight carriers like Cargolux Airlines International are reviewing their business models.
On Friday, United Natural Foods (NASDAQ:UNFI) said that while it remains committed to return to the bargaining table on December 20th with a federal mediator along with Teamsters Local 117, which represents workers at its Auburn facility, the firm was disappointed that the Union has elected to stay out on strike. Due to the ongoing work stoppage, United Natural Foods has moved ahead with contingency plans to keep its operations running and to fulfill its commitments to customers.
Don’t Miss: Ford and GM Fall Over EU Cliff.