Unitedhealth Group, Inc. (NYSE:UNH) stated that it will keep a sober balance regarding some of the headwinds that it sees.
Amazon.com Inc. (NASDAQ:AMZN): According to Bloomberg, men are at the head of the e-commerce craze. Men use websites like Amazon, Bonobos, and Thrillist, pushing convenience and a fast shopping experience. And these sites have begun to push a growing part of the $41 billion fashion e-commerce market by providing unique services.
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Fossil, Inc. (NASDAQ:FOSL) is rallying after Citigroup analyst Oliver Chen upgraded it to Buy from Neutral in a note released to investors earlier in the day. Chen notes that watches have been selling well at other retailers, and he vies Fossil’s stock as inexpensive. Additionally, the analyst expects Skagen Designs, which Fossil acquired last year, to cause a boost to Fossil’s results in 2013. The company’s valuation should rise as investors become more confident in the company’s outlook, according to Chen, who gives the shares a $100 price target. In early trading, Fossil jumped $3.57, or 5.37%, to $89.63.
Johnson Controls Inc. (NYSE:JCI): A123 Systems (NASDAQ:AONE) has entered into an asset purchase agreement with Johnson Controls in a transaction worth $125 million. Beneath the terms of the agreement, Johnson Controls intends to acquire A123’s automotive business assets, including all of its automotive technology, products and customer contracts; its facilities in Livonia and Romulus, Michigan; its cathode powder manufacturing facilities in China, and A123’s equity interest in Shanghai Advanced Traction Battery Systems Co., A123’s joint venture with Shanghai Automotive. With the proposed transaction, A123 has obtained a commitment from Johnson Controls for $72.5 million in “debtor in possession” financing for support of the company’s ongoing operations during the pendency of the sale process.
Murphy Oil Corporation (NYSE:MUR) Board of Directors approved a plan to spin off to its stockholders its U.S. downstream subsidiary, Murphy Oil USA, Inc., into an independent and separately traded company. Murphy USA’s business is to consist of retail marketing of petroleum products along with convenience merchandise via a large chain of retail gasoline stations. Also, Murphy USA’s assets are to include seven product distribution terminals along with two ethanol production facilities located in North Dakota and Texas. Murphy is to be an independent exploration and production company with principal activities focused in the United States, Canada, and Malaysia, and it will continue its exploration program and offshore development projects complemented by predictable growth in its North America onshore businesses mainly in the Eagle Ford Shale and Seal areas. The United Kingdom downstream operations will remain with Murphy until the assets are fully divested. The spin-off of Murphy USA will be subject to customary conditions, including confirmation of the tax free nature of the transaction and receipt of customary regulatory approvals. The spin-off will be effected via a distribution of the shares of Murphy USA pro rata to all Murphy stockholders as of a date to be established by Murphy’s Board of Directors. The spin-off of Murphy USA should be finalized during 2013.
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