GM Retools for New Models, Discovery Not Into Sports: Consumer Biz Wrap
As of the close of Friday, December 21st, S&P Dow Jones Indices will institute changes to the S&P MidCap 400 and the S&P SmallCap 600 indices after the close of trading on Friday, December 21. Since AMERIGROUP Corporation will soon be purchased by WellPoint, the former will be replaced in the Midcap 400 by United Natural Foods (NASDAQ:UNFI), which will in turn be replaced in the SmallCap 600 by Ixia (NASDAQ:XXIA).
General Motors Company (NYSE:GM) is making factory floor changes to produce redesigned 2014 Chevrolet Silverado and GMC Sierra pick-up trucks. In the meantime, it has built up a large — perhaps too large — inventory of existing trucks to see showrooms through the downtime. Auto analyst Tom Libby of R.L. Polk & Co. said that, “To rectify this situation, recently GM has put additional incentives on the existing inventory, and as year-end approaches, there will be increasing pressure to move these units.”
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PepsiCo (NYSE:PEP) modifies the sweetener in Diet Pepsi prior to a major rebranding of the soft drink set for January, says the Associated Press. Diet Pepsi currently includes two artificial sweeteners, compared to just aspartame previously.
Two sizable purchases in Europe will boost Discovery Communications’ (NASDAQ:DISCA) earnings and step up the global growth of the world’s leading pay TV programmer outside the United States, said Chief Executive David Zaslav on Friday, adding that for the first time, they will add sports and scripted programming to the firm, while making it clear that Discovery does not intend to become a player in domestic sports.
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