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Go home, you're drunk [The Water Coolest]
Diageo is divesting 19 of its “value” brands. You know, the ones best served in plastic bottles and consumed before 10 AM under a bridge. The lower end brands (read: the Camel cigarettes of booze) including Seagram's Canadian whiskey and Goldschlager schnapps will fetch roughly $550M in cash. The buyer? Privately held US spirit maker, Sazerac.
Jho Low can it go? [The Water Coolest]
D-Sol and the Terrible, Horrible, No Good, Very Bad Day. Malaysia's finance minister demanded a full refund for Lloyd's handy-work on the 1MDB debacle that earned the company roughly $600M. News of the Malaysian government pouring proverbial gasoline on the dumpster fire sent GS shares to their lowest point since 2011 (down 7.46% on the day).
Hack lunch [The Water Coolest]
Moody's is discussing options for building the risk of a catastrophic hack (i.e. Equifax) into its credit ratings, thus giving investors a clearer line of sight into a company's cyber attack risk ... and providing Russian wunderkind hackers with a new challenge.
What else is happening today?
- Can you say dank earnings? Aurora Cannabis, a devil's lettuce grower and distributor listed on the Toronto Stock Exchange announced massive earnings numbers. Revenue grew 260% year-over-year and profit was up 2,826% ... but shares fell nearly 2% on the day. This, of course, is what happens when your product becomes legal overnight.
- The Yankees are making moves this offseason. In a report from an unnamed, leaked source (the most credible of all sources), the Pinstriped 20% owners are said to be buying back all outstanding shares of the YES television network from Fox.
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