Yahoo Finance Morning Brief: Coca-Cola buys coffee chain Costa for $5.1 billion
Friday, August 31, 2018
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What to watch today
On Friday, the schedule will bring investors a final check on the U.S. consumer for the week when the University of Michigan releases its final look at consumer sentiment in August. This reading is expected to be a slight improvement over the preliminary report posted two weeks ago which indicated consumers’ perceptions of current buying conditions were lowered due to higher prices.
The August Chicago PMI report is also set for release in the morning and expected to show continued expansion of activity in the midwest.
And on the earnings side, Big Lots (BIG) and Hurco (HURC) are the only companies in the Russell 3000 set to report results.
Top news
Coca-Cola takes plunge into coffee with $5.1B Costa deal: Coca-Cola Co. (KO) has agreed to buy coffee chain Costa for $5.1 billion including debt to extend its push into healthier drinks and take on the likes of Starbucks and Nestle in the booming global coffee market. [Reuters]
Trump to back $200B China tariffs as early as next week: President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter. Companies and members of the public have until Sept. 6 to submit comments on the proposed duties, which cover everything from selfie sticks to semiconductors. [Bloomberg]
Lyft to hire adviser to prepare for 2019 IPO: Lyft Inc., the second-biggest U.S. ride-hailing company, has started the process for an initial public offering in an effort to beat Uber Technologies Inc. to the public markets, people familiar with the matter said. Lyft has hired IPO adviser Class V Group LLC to work closely with management as they embark on the process. [Bloomberg]
SEC chairman wants to let Main Street investors in on private deals: The Securities and Exchange Commission wants to make it easier for individuals to invest in private companies, including some of the world’s hottest startups, the agency’s chairman, Jay Clayton, said in an interview. [The Wall Street Journal]
Buffett says Berkshire buying own stock, more Apple: Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc. (BRK-A), on Thursday said the conglomerate bought back its own stock for the first time since 2012 and added to its already huge stake in Apple Inc. (AAPL). [Reuters]
For more of the latest news, go to Yahoo Finance
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Morning Brief is taking Labor Day off. It will resume Tuesday, September 4, 2018.
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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.
