General Electric (GE) wants to sell of its legendary home appliances unit to focus more on its industrial segment. It might have a buyer in Sweden’s Electrolux and Quirky, which along with a private equity group, may purchase the segment for $2 billion.
UPS (UPS) and FedEx (FDX) are expanding into China and made a game-changing move to expand shipping services there without needing additional licenses. Since 2009, Chinese laws have blocked this kind of access to delivery services to foreign companies, and this means a major win for FDX and UPS.
Carlyle Group (CG) may be spinning off Axalta Coating Systems only 18 months after purchasing it from Dupont. The IPO could raise $1 billion.
Cisco (CSCO) reported earnings, up $0.55 per share compared to $0.51 a year ago, but it has had to cut 8% of its jobs. Its guidance was flat and revenue growth was in-line.
Intel (INTC) is going to purchase the processor unit from Avago for $650 million. Intel is making the acquisition to compete with the broader network processor industry.