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After 1Q16-end, $GIS has agreed to sell its Green Giant business in its US Retail segment and a portion of the business in its International segment for $765MM in cash, subject to an inventory adjustment at closing. $GIS expects this transaction to close in FY16, and to record a gain on sale of this business during the quarter in which it closes.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.
It is official, with $T buying $TWX, it looks like distributors want to own the content production too. Expect some good competition between Netflix ($NFLX), AT&T, Comcast ($CMCSA) and others. However, will this be good for the consumers will not be decided soon.
$NFLX a monster move, going up. Expect making some money on Monday.