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Packaged food company $CAG said it has completed the sale of its private label business to $THS for $2.7Bil in cash. This business includes a network of 32 manufacturing facilities in the US, Canada and Italy. $CAG expects the sale to result in a tax asset of about $1.6Bil, which can be used to offset potential capital gains over next 5 years.
$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.