Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
Nike (NKE) is off to the races after posting a big beat on profit and revenue. The shoe maker says its new focus on direct-to-consumer sales helped reverse a recent downturn. It expects fiscal 2019 revenue to be at the higher end of forecasts. It also announced a new $15B stock buyback program.
Pharma giant Novartis (NVS) is refocusing on drug development. It plans to spin off Alcon, which makes contact lenses and other optical products. Analysts estimate the newly independent Alcon could be worth some $20B. Novartis’s chief executive says focusing on prescription medicine is what his company needs to be successful.
We now have a date for shareholders to vote on the deal to sell Fox (FOX) assets to Disney (DIS). That vote will happen on July 27, giving Comcast just about a month to respond with a new offer. One of Fox’s biggest shareholders, TCI Fund Management, has asked the board to wait for a new bid from Comcast.
Guinness owner Diageo (DEO) is hoping a new US brewery makes it stronger. The brewery and restaurant near Baltimore will be the first Guinness plant in the US in more than 60 years. Guinness says having a US location will help it get the stout to market faster.