- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Monster Beverage Corp. (NASDAQ:MNST) will join the S&P 500 index in place of Sara Lee Corp. (NYSE:SLE) effective after the market’s close on June 28. Hillshire Brands Co., Sara Lee’s “stub” trading on a when-issued basis, reported MarketWatch, will take Monster’s place when it joins the S&P MidCap 400 index. In addition, Sara Lee will spin off its global coffee and tea business to stockholders.
Ryder (NYSE:R) cut its second quarter and full-year profit forecasts thanks to expectations for “a slower-demand environment to continue through 2012.” In addition to a commercial rentals slowdown, the company will also downsize its vehicles fleet. Revised projected earnings are now $0.90 to $0.95 for the second quarter, down from the previous $1.07 to $1.12 a share. For the year, Ryder set a forecast of $3.65 to $3.85 a share, less than the previous $4.02 to $4.12 a share range.
An Australian bidding war may be heating up between Rupert Murdoch and Kerry Stokes for the TV holding company CMH. Stokes’ Seven Group will make a 76 percent offer representing the stake it doesn’t own. News Corp. (NASDAQ:NWS) has previously already offered $2 billion for CMH, which its owner James Packer with his 50.1 percent share, had been ready to accept unless a better offer came along.
Friday’s anticipated ruling on American Airlines has been postponed until June 29. This will give the company more time to convince labor representatives to take voluntary cost cuts. Eventually a decision may open the door for layoffs and additional steps.
Daniel Rice, co-manager of BlackRock’s (NYSE:BLK) $4.4 billion of energy assets, is leaving the firm after rumors of possible conflicts of interest with his family’s private energy investments and the portfolios he managed for the firm, reported Reuters. In addition, the firm’s retiring Bob Doll is rumored to have based his fund models on others’ work, not his own alleged proprietary models.
Don’t Miss: Here’s How Apple Keeps its Employees Loyal.
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.