Wall Street Brief: Xstrata Caves to Glencore, Oracle Reveals New Product

Xstrata Plc’s (XSRAF.PK) board has recommended that its shareholders support a $33 billion sweetened takeover offer by Glencore International Plc (GLNCF.PK) after receiving assurances on the board’s composition and delinking votes on bonus and bid payments. Shareholders now have two resolutions to consider: one that includes a takeover with 144 million pounds ($232 million) of retention bonuses and a second one without the pay stipulation. Only 16.5 percent of shareholders can block the merger as Glencore cannot vote with its 34 percent stake.

On Monday, Oracle (NASDAQ:ORCL) is expected to reveal a new version of its flagship database program at the OpenWorld conference. It has been five years since a new version and the new 12c database is an alternative to the no-hardware approach of cloud computing that its competitors Salesforce.com (NYSE:CRM) and Workday currently offer.

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Boeing (NYSE:BA) workers are expected to reject the company’s current contract offer for the 23,000 members of the Society of Professional Engineering Employees in Aerospace (Speea); a second vote will be necessary to authorize a strike. It isn’t forseeen by either Seattle officials or analysts but Speea gives it a 35 percent likelihood.

Toyota (NYSE:TM) and Honda (NYSE:HMC) are expected to release strong sales increases on Tuesday; they are seen as driving factors for a healthy increase in U.S. auto sales. Rewind one year ago and both automakers had been undergoing earthquake-related disruptions.

J.C. Penney Inc. (NYSE:JCP) shareholders are still waiting to see the benefits under new CEO Ron Johnson but suppliers helping the company such as Leggett & Platt (NYSE:LEG) are not complaining. Next up for a supplier opportunity is the lucrative contract to install radio-frequency identification (RFID) tags on each item in J.C. Penney stores; R.R. Donnelly & Sons (NASDAQ:RRD) and another  manufacturer are in a battle to win the contract.

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