4 Consumer Stock Stories for Savvy Midweek Investment Shopping
General Motors Co. (NYSE:GM): Closing price $35.48
On Wednesday, GM said that the UAW Retiree Medical Benefits Trust priced a secondary public offering of 45,454,545 warrants to buy GM common stock. The offering was priced at $3.85 per warrant via a modified Dutch auction that occurred on Tuesday. The warrants have been listed for trading on the New York Stock Exchange under the symbol GM WS C and should commence trading at 9:30 a.m. Wednesday. The UAW VEBA will receive all of the net proceeds from the offering, anticipated to come to about $171 million. GM itself will not receive any proceeds from the offering.
Mondelez International Inc. (NASDAQ:MDLZ): Closing price $31.26
Mondelez’s Cadbury India Ltd. division said Wednesday that it will spend $163 million at first to establish a manufacturing facility in that country. The plant in Andhra Pradesh state will be the biggest chocolate-producing factory in India — and Mondelez’s number-one manufacturing facility in the Asia-Pacific region, the company said in a news release, which also said that the factory is expected to create nearly 1,600 direct jobs by 2020. Planned to be built in four phases, the first step should be completed by the middle of 2015 and the final phase by 2020. Presently, Cadbury has five factories in India, including one in Andhra Pradesh.
Office Depot, Inc. (NYSE: ODP): Closing price $4.20
Office Depot on Wednesday sent a letter to all shareholders that urged them to vote the white proxy card in favor of Office Depot’s ten director nominees and their continuing efforts to successfully close the OfficeMax transaction and unlock significant value for all shareholders. In the letter, the company also emphasized why it believes that activist investor Starboard Value LP and its nominees could meaningfully disrupt not only the progress and momentum made on the OfficeMax transaction (as integration planning and a CEO search are already well underway), but also the fulfillment of significant synergies from the planned merger.
Macy’s, Inc. (NYSE:M): Current price $47.83
On Wednesday, Macy’s and the Genesco subsidiary LIDS Sports Group announced that will open licensed team merchandise departments in Macy’s stores across the United States and online under the name of Locker Room by Lids. Plans are for Locker Room by Lids departments to be launched in around 25 Macy’s stores on macys.com in the fall and an additional 175 in-store departments debuting in spring 2014 as part of the first phase.