Tribune Publishing Denies Company Sale Talks

Mukesh Buch
30 Nov, 2015
New York City

Ford Motor said it plans to book $600 million charge linked to the bargaining agreement with the United Auto Workers union. NextEra Energy agreed to sell its stake in Forney and Lamar generating assets to Energy Future Holdings for $1.6 billion. Tribune Publishing said the company is not for sale.

[R]11:35 AM New York – Ford Motor said it plans to book $600 million charge linked to the bargaining agreement with the United Auto Workers union. NextEra Energy agreed to sell its stake in Forney and Lamar generating assets to Energy Future Holdings for $1.6 billion. Tribune Publishing said the company is not for sale.[/R]

Tollbooth Index slipped 16.93 to 11,034.80.

Earnings Review

Ford Motor Co ((F)) slid 5 cents to $14.48 after the automaker estimated a $600 million charge in the year related to new bargaining agreement with the United Auto Workers union.

NextEra Energy Inc ((NEE)) gained 63 cent to $100 after the renewable energy provider said its subsidiaries, La Frontera Ventures LLC agreed to sell its ownership interest in Forney and Lamar generating assets to an affiliate of Energy Future Holdings for about $1.59 billion.

The transaction is expected to close in the first-quarter of 2016.

Staples, Inc ((SPLS)) slipped 1.6% or 20 cents to $12.11 after the New York Post reported Federal Trade Commission preparing to block the specialty retailer’s acquisition of smaller rival Office Depot Inc.

Office Depot Inc stock declined 3.3% to $6.53.

Southern Co ((SO)) rose 15 cents to $44.73 after the electricity supplier subsidiary today acquired its first solar project in Texas of 157-megawatt, Roserock solar facility from Recurrent Energy, a subsidiary of Canadian Solar Inc.

Tribune Publishing Co ((TPUB)) surged 8.6% or 80 cents to $10.08 after the media and publishing company denied reports and said the company is not in merger talks or in the process of selling itself and spin-off Los Angeles Times spun off, in a letter to its employees.

On Friday, Rupert Murdoch, Chairman of News Corp tweeted that the newspaper group Chicago Tribune would be sold to the one of Wall Street firm and Los Angeles Times would be split off and bought by local investors.