Dow advanced 113, advancers over decliners almost 2-1 & NAZ gained 25. The MLP index lost a fraction in the 421s & the REIT index went up 2+ to the 312s. Junk bond funds rebounded after recent selling & Treasuries were higher. Crude rose as Texas braces for a storm & oil edged lower.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.9092684859273461)
NCR jumped after a report that Blackstone Group & Carlyle Group are making a joint bid of more than $10B for the ATM maker, according to leakers. The offer includes debt. Other buyout firms are vying for NCR, including Apollo Global Management & Thoma Bravo LLC. The purchase would be one of the biggest buyouts since the 2008 financial crisis & a rare joint effort by 2 of the largest private equity firms. The ATM & checkout-equipment maker is more than a 1/3 owned by hedge funds. The largest shareholder is believed to be Jana Partners. The stock soared 3.36 (11%). If you would like to learn more about NCR, click on this link:
club.ino.com/trend/analysis/stock/NCR?a_aid=CD3289&a_bid=6ae5b6f7
If you would like to learn more about COTY, click on this link:
club.ino.com/trend/analysis/stock/COTY?a_aid=CD3289&a_bid=6ae5b6f7
If you would like to learn more about PG, click on this link:
club.ino.com/trend/analysis/stock/PG?a_aid=CD3289&a_bid=6ae5b6f7
Coty on track to clinch P&G beauty deal in coming weeks-sourcesReuters
Corp news brought out buyers in the PM. Meanwhile the FOMC is having its big meeting to decide what to do with interest rates (& when). Tomorrow Janet will speak & the markets will listen.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLN15.NYM | ....Crude Oil Jul 15 | ....59.88 |  ...0.36 | (0.6%) |
NCR jumped after a report that Blackstone Group & Carlyle Group are making a joint bid of more than $10B for the ATM maker, according to leakers. The offer includes debt. Other buyout firms are vying for NCR, including Apollo Global Management & Thoma Bravo LLC. The purchase would be one of the biggest buyouts since the 2008 financial crisis & a rare joint effort by 2 of the largest private equity firms. The ATM & checkout-equipment maker is more than a 1/3 owned by hedge funds. The largest shareholder is believed to be Jana Partners. The stock soared 3.36 (11%). If you would like to learn more about NCR, click on this link:
club.ino.com/trend/analysis/stock/NCR?a_aid=CD3289&a_bid=6ae5b6f7
NCR Jumps on Report of Joint $10 Billion Blackstone-Carlyle Bid
NCR (NCR)
Coty is on track to acquire
the beauty business of Procter & Gamble, a Dow stock & Dividend Aristocrat, in a $12B deal that
would make the company the world leader in perfume &
hair care, according to a leaker. If
the deal goes though, COTY would get its hands on brands such as Gucci & Hugo Boss perfume, Wella & Clairol hair care products, Max
Factor & Cover Girl make-up, part of its strategy to reverse its own
declining sales trends. For
PG, the sale is part of a large plan to narrow its focus on
fewer, faster-growing brands. The #1 household products
maker said in Aug it could sell about half of its slow-growing
brands over the next 2 years. For tax purposes, the deal would
be completed through a "Reverse Morris Trust", which means that
PG would spin off its beauty assets into a separate company that
would then absorb Coty in an all-share deal. Luxembourg-based
JAB Holdings, which
controls 75% of COTY, would own about 1/3 of the equity in
the combined business & have about 48% of voting rights. COTY stock shot up 5.03 (19%) & PG shares rose 98¢.
If you would like to learn more about COTY, click on this link:
club.ino.com/trend/analysis/stock/COTY?a_aid=CD3289&a_bid=6ae5b6f7
If you would like to learn more about PG, click on this link:
club.ino.com/trend/analysis/stock/PG?a_aid=CD3289&a_bid=6ae5b6f7
Coty on track to clinch P&G beauty deal in coming weeks-sourcesReuters
Coty (COTY)
Procter & Gamble (PG)
Yahoo! CEO Marissa Mayer said that the company’s spinoff of its stake in
Alibaba Group Holding is proceeding as planned. She’s
confident about the plan, which will distribute shares in the Chinese
e-commerce company to YHOO shareholders & shouldn’t be affected by
any potential regulatory changes. The company has been
reassured that any new tax steps weren’t “specific” to YHOO. Last month, an official at the IRS said the agency is considering changes to rules concerning spinoffs. The
Alibaba stake was valued at almost $40B when the spinoff was
announced. YHOO said potential IRS changes to the tax-free
treatment of spinoffs shouldn’t affect previously filed requests. The
company has already lodged its plan & is still working toward
undertaking the transaction in Q4. “We’re proceeding with our plan,” Mayer said. “The changes don’t
apply for previous requests. These proposed changes aren’t changing the
applicable law, but just changing the processes. There are many of these
transactions. We feel like we should proceed with the transaction as we
planned.” Mayer is looking for ways to jump-start growth as she faces
increased competition. During Q1,
sales, excluding revenue shared with partner websites, fell 4%
to $1.04B, missing estimates. She also talked up the new partnership with the National
Football League to show a game in Oct on the YHOO service. Mayer
said she would like to work with the NFL more in the future. The stock rose chump change. If you would like to learn more about YHOO, click on this link:
club.ino.com/trend/analysis/stock/YHOO?a_aid=CD3289&a_bid=6ae5b6f7
club.ino.com/trend/analysis/stock/YHOO?a_aid=CD3289&a_bid=6ae5b6f7
Yahoo CEO Says Alibaba Stake Spinoff Proceeding as Planned
Yahoo! (YHOO)
Corp news brought out buyers in the PM. Meanwhile the FOMC is having its big meeting to decide what to do with interest rates (& when). Tomorrow Janet will speak & the markets will listen.
Dow Jones Industrials
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