UPS & FedEx
UPS and FedEx got the okay to expand in China. The package delivery giants have received licenses that allow them to extend their express package service to new cities in China. The two companies have been waiting for permission for this expansion since 2009. That’s because postal laws in the country restricted foreign firms from delivering packages from abroad. Shares of UPS rose slightly to $96.07. FedEx also rose slightly to $149.64.
General Electric is looking to shed another one of its units. The company is considering the sale of its appliance division as part of its effort to focus on selling more of its profitable industrial equipment. Electrolux is one of the parties interested in snatching up the unit. Shares were up a fraction to $25.88.
Allergan & Valeant
The Securities and Exchange Commission is reportedly looking into the joint bid by Valeant Pharmaceuticals and activist investor Bill Ackman for Allergan. According to those reports, regulators are investigating whether the offer to buy the Botox maker broke any insider trading laws. Shares of Allergan rose slightly to $155.60. Valeant jumped almost two percent to $111.04.
Shares of Amgen hit a new record in today’s session, despite a batch of mixed news. The biotech company released disappointing results on its blood cancer treatment and recalled one of its drugs in Europe and the Middle East. But, positive findings from another study are trumping that failure and according to a new filing, hedge fund Third Point has taken a stake in Amgen. All that helped push shares up 3.5 percent to $131.86.
Merck got the okay from the Food and Drug Administration for a new type of sleeping pill. The drug is designed to help people with insomnia stay asleep. Merck rose 1.5 percent to $58.78.
Keurig Green Mountain
If you’re a k-cup lover, get ready to pay more. Keurig Green Mountain is raising prices by nine percent for its portion packs of coffee. It blamed the price hike on expensive coffee bean prices as well as rising costs for energy, packaging and transportation. Shares rose slightly to $114.30.
Monster Beverage & Coca-Cola
Coke and Monster Beverage are teaming up. Coke has taken a nearly 17-percent stake in Monster, that’s worth more than $2 billion. The beverage giant will transfer its energy drink businesses to monster as part of the deal and Monster will give coke its non-energy businesses. Shares of Monster shot up by as much as 26 percent in after-hours. During the regular session the stock rose slightly to $71.65.
It turns out Burger King’s ‘Satisfries,’ didn’t satisfy customers. After less than a year the chain is scrapping the lower-calorie, lower-fat french fries at most restaurants. Shares were unchanged at $26.42.