Keurig Green Mountain
Investors give Keurig’s new cold drink system an icy reception. The company known for its single-serve coffee makers revealed its latest gadget, a cold beverage maker. It won’t be widely available till next year and it will cost around $300, so that’s later than what analysts were expecting and more expensive. Shares tumbled 8.5 percent to $94.26. It was the worst performing stock in the S&P 500 today.
Some top hedge funds are dumping Apple according to regulatory filings out today. Leon Cooperman’s Omega Advisors and Philippe Laffont’s Coatue Management reduced or slashed stakes in the iPhone maker during the first quarter. Shares fell a fraction to $128.77.
Sysco & U.S. Foods
Syco has a lot riding on its planned merger with U.S. Foods. If the deal falls apart because of regulators, Sysco will be left with a $1 billion bill, according to new filings. This is because it has already spent money on the potential combination. Shares of Sysco were off a fraction to $37.27. U.S. foods is privately owned. Shares of Sysco were off a fraction to $37.27. U.S. foods is privately owned.
J.P. Morgan upgraded Yum today, sending shares higher. The note citing the likelihood that the fast food chain owner will spin-off its business in china. The company, which owns KFC gets about half its revenue from china. Shares of Yum were up more than four percent to $93.96.
J.P. Morgan downgraded Deere to its lowest underweight rating, which is a rare call, citing a potential cash crunch for U.S. farmers. Shares of the farming equipment maker fell more than three percent to $89.13.
Pepco Energy Services & Exelon
Pepco Energy Services and Exelon are one step closer to officially merging. Exelon’s nearly $7 billion bid for Pepco has been conditionally approved by the Maryland Public Service Commission. Pepco surged almost nine percent to $27. Exelon rose about three percent to $34.50.