4 Consumer Stock Stories Making a Midweek Commotion
General Motors Co. (NYSE:GM): Closing price $36.30
Opel Chairman Karl-Thomas Neumann said on Wednesday that the company is considering bringing the Opel Adam minicar to the United States, likely under the Buick name, telling reporters that, ”We are looking at it. Nothing is decided. But it’s an example of some of the Opel product being used elsewhere in the world.” The prospect of the move illustrates GM’s new efforts to better link up Opel and Buick so that similar vehicles can be sold with different badges in Europe, the United States, and in China.
Dole Food Company, Inc. (NYSE:DOLE): Closing price $13.50
Dole announced Wednesday the expiration of the go-shop period provided for its previously reported merger agreement with its Chairman and Chief Executive David H. Murdock. The company has received no alternative transaction proposals from third parties during the 30 calendar-day period between August 11, 2013 and September 10 (12:01 a.m. Eastern time). The transaction should close during the fourth quarter, subject to approval by a majority of the outstanding shares of common stock owned by stockholders other than Murdock, with the usual regulatory approvals in certain countries and other customary closing conditions as specified in the merger agreement.
Procter & Gamble Co. (NYSE:PG): Closing price $78.19
Shares of the iconic consumer goods company closed up 0.41 percent on the day even though the stock was downgraded from Buy to Neutral at SunTrust. Procter & Gamble, which is a key Dow Jones Industrial Average member, was downgraded over problems such as inconsistent top line growth.
International Paper Co. (NYSE:IP): Closing price $49.29
International Paper is laying off some 1,100 employees who work at a paper mill in Alabama, intending to permanently shut down due to stalling demand for the paper the facility makes. The company has around 70,000 employees in the aggregate and is headquartered in Memphis. On Wednesday, the firm said that it has searched for ways to repurpose the Courtland mill, but determined that permanently closing it places the company in the best position for the future.