Canadian Government Refuses to Block Verizon from Market and 2 Other Dow Movers to Watch
Verizon Communications Inc. (NYSE:VZ): Current price $49.64
The wireless industry in Canada is getting ready for an American invasion while the government there appears to be deaf to pleas that it disallow the United States behemoth Verizon Communications from the profitable market. The three big Canadian players — Rogers Communications Inc, BCE Inc.’s Bell, and Telus Corp — which hold 90 percent of the country’s wireless subscribers, have initiated a giant public relations campaign against rules created to foster competition. This includes giving foreign carriers preferential access to airwaves being auctioned in 2014 and less stringent restrictions on foreign ownership of small wireless operators. The top Canadian leaders have been warned away from the latter.
Merck & Co. (NYSE:MRK): Current price $48.42
There is fear that beef supplies in the United States will fall as Tyson Foods Inc. ceases its purchases of animals fed with a supplement made by Merck & Co. after lame livestock were found at factories. A letter was sent by Tyson to cattle suppliers, which reported that “Some animal-health experts have suggested that the use of the feed supplement Zilmax, also known as zilpaterol, is one possible cause” for the animals being unable to walk. Tyson spokesman Gary Mickelson said that the “interim measure” is effective September 6, and the “evaluation of these problems is ongoing.” For its part, Merck said that the supplement is safe.
The Coca-Cola Co. (NYSE:KO): Current price $40.21
Coca-Cola HBC AG reported that its second-quarter sales fell 2 percent as a volume gain in emerging markets failed to outweigh slumps in countries such as Greece and Austria. Revenue fell to 1.95 billion euros or $2.6 billion in the quarter ending June 28, according to a company statement on Thursday. Analyst Mike Gibbs at JPMorgan Cazenove had estimated sales of 1.989 billion euros. Volume gained 2 percent in emerging markets, while levels dropped by 6 percent in the “established economies” and 3 percent in developing markets. Coca-Cola HBC buys its concentrate from The Coca-Cola Co. and sells the products in Europe.