Toyota Proposes Lexus Makeover and 4 Morning Hot Stocks Moving the Market
According to an 8-K filing, United Continental (NYSE:UAL), which owns United Airlines, may see third quarter passenger revenue falling between 1 to 2% as capacity falls 1.4% in that period. Of that, capacity on domestic flights may fall 1.7% though international routes may see a fall of only 1%.
Shares of Dollar General (NYSE:DG) fell 3.44 percent pre-market on news of the company’s SEC filing informing of a sale of 30 million shares by shareholders, and mostly from Buck Holdings LP, a unit of KKR and Co.
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Toyota (NYSE:TM) is proposing a makeover of its Lexus brand that will appeal to a younger set of buyers. New sporty variations, flashier grilles and interiors, and aggressive styling and performance would be the hallmarks of the product line-up. A worthy effort aimed at retrieving its top-of-the heap luxury position which remained unchallenged for 11 years through 2011.
According to a report in Reuters, William Ackman, whose Pershing Square Capital LP owns about 1 percent of Procter & Gamble (NYSE:PG), demanded that Robert McDonald who is chairman and is chief executive of P&G, be relieved of both positions at a meeting earlier this month. Apparently, Ackman, an activist investor, disapproves of McDonald’s leadership of the company.
Lloyds (NYSE:LYG) is about to draw the curtains on its investments in Australian commercial real estate. Its BOS International unit is reported to be looking to sell a troubled portfolio of Australian corporate loans worth nominally A$ 400 million, according to a report in the WSJ. This comes on the heels of earlier disposals of loan portfolios worth A$3.5 billion to consortia including Blackstone, Morgan Stanley and Goldman Sachs.
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