Monday headlines include: Google becoming a target for activism, Apple considering the sale of euro bonds, Diageo trades Bushmills for tequila, Toyota reporting another big increase in sales in China, and MetLife fighting against “SIFI” designation.
Add internet giant Google (GOOGL) to the list of possible activist targets. Carlos Kirjner of Bernstein research, said in a Friday note that the company is expected to have more than $100 billion in cash by the end of 2016. That money would be earning less than 1 percent per year, which is likely to cause investors to want the company to pay them a dividend so they can get a higher return on their investment elsewhere.
Consumer electronics giant Apple (AAPL) will hold an investor call Monday ahead of a potential bond sale. According to the Wall Street Journal, the call was arranged by Deutsche Bank and Goldman Sachs. Apple is reportedly considering floating its first ever non-dollar bond, the company is believed to be considering selling euro-denominated debt.
Alcoholic beverage firm Diageo (DEO) is swapping brands with Casa Cuervo, the privately owned tequila giant. INder the terms of the deal, Diageo will get full control of the Don Julio tequila brand, plis $408 million in cash. In return, Cuervo will receive the Bushmills brand of Irish whiskey.
Automaker Toyota (TM) said Monday that it sold 104,700 vehicles in China during October, a 27.1 percent increase from the year-ago period. The company reported a 26.1 percent year-over-year increase in September. So far in 2014, the company is on pace to increase sales by 13.3 percent from 2013.
Top U.S. life insurer MetLife (MET) will appeal to financial regulators in the U.S. as it hopes to avoid being labeled a systemically important financial institution, which would subject it to increased regulation by the Financial Stability Oversight Council.