spin off
WORKHORSE GROUP INC. $1.04 (Nasdaq symbol WKHS; Manufacturing & Industry sector; Shares outstanding: 42.1 million; Market cap: $43.8 million; Takeover Target Rating: High; www.workhorse.com) makes electrically powered trucks and unmanned drones....
DANAHER CORP. $101 (New York symbol DHR; Manufacturing & Industry sector; Shares outstanding: 696.6 million; Market cap: $70.4 billion; Dividend yield: 0.6%; Takeover Target Rating: Medium; www.danaher.com) makes precision-testing equipment and tools....
SEMPRA ENERGY $115 (New York symbol SRE; Utilities Sector; Shares outstanding: 273.5 million; Market cap: $31.5 billion; Dividend yield: 3.1%; Takeover Target Rating: Medium; www.sempra.com) distributes electrical power and natural gas to over 45 million customers in Southern California, Texas, Chile and Peru....
ELI LILLY & CO. $105 (New York symbol LLY; Manufacturing & Industry sector; Shares outstanding: 1.1 billion; Market cap: $115.5 billion; Dividend yield: 2.1%; Takeover Target Rating: Low; www.lilly.com) develops, makes and markets drugs and animal-health products.
Lilly hopes to match the success Pfizer realized with its Zoetis spinoff (see pages 81 and 82) by setting up its Elanco Animal Health business as a separate company.
Using an initial public offering (IPO), Lilly will sell 20% of Elanco’s shares to the public....
Lilly hopes to match the success Pfizer realized with its Zoetis spinoff (see pages 81 and 82) by setting up its Elanco Animal Health business as a separate company.
Using an initial public offering (IPO), Lilly will sell 20% of Elanco’s shares to the public....
Pfizer’s shares have gained 50% in the five years since it used an initial public offering to set up its animal-drug business as Zoetis. It then offered its remaining shares to investors. The new company now plans to sell or spin off its consumer business, which could push the stock even higher.
Zoetis, which has seen its shares triple since the split, should continue to profit from rising levels of pet ownership.
PFIZER INC....
Zoetis, which has seen its shares triple since the split, should continue to profit from rising levels of pet ownership.
PFIZER INC....
Bloomin’ Brands Inc., owner of Outback Steakhouse and other restaurants, attracted activist investors looking for changes, but its own upgrades have earnings on the rise.
All four of these power and gas utilities reported lower earnings for the second quarter of 2018. Moreover, rising interest rates have hurt their appeal among income-seeking investors. Higher rates will also increase their borrowing costs as they raise funds for new projects.
Even so, most of their revenue comes from regulated operations....
Even so, most of their revenue comes from regulated operations....
In a recent Hotline for our Spinoffs, Takeovers & Special Situations newsletter, we alerted investors to the increasing likelihood that Campbell Soup Co. (a recommendation of our Wall Street Stock Forecaster) would either put itself up for sale or spin off some of its operations....
GENUINE PARTS CO. $97 (New York symbol GPC; Income-Growth Payer Portfolio, Manufacturing & Indus try sector; Shares outstanding: 146.8 million; Market cap: $14.2 billion; Dividend yield: 3.0%; Dividend Sustainability Rating: Above Average; www.genpt.com) sells replacement auto parts through 1,100 outlets under the NAPA banner; and the company’s distribution business serves 4,900 independent stores in North America, Australia and New Zealand....