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Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:43 EDTMJNMead Johnson says Hong Kong to limit flow of formula products to mainland China
Mead Johnson (MJN) disclosed in a regulatory filing that Hong Kong's government has imposed a regulation designed to limit the flow of formula milk products out of the territory. Effective March 1, to ensure adequate supplies for local infants and young children, the authorities will limit travelers departing Hong Kong to 1.8 kilograms, equivalent to two 32-ounce cans, of formula milk for children up to 36 months of age, according to Mead Johnson. The company said approximately 30% of Mead Johnson sales in the China/Hong Kong market originate in Hong Kong and it is believed that a substantial portion of the products sold in Hong Kong are taken to mainland China by visitors and private resellers. The company said no change is being made to its most recent earnings guidance, at this time. The company added, "It is difficult to quantify the potential net impact, if any, of the restriction on the company’s overall China/Hong Kong business. The Company will carefully monitor retailer orders and consumer purchases across the China/Hong Kong market following the implementation of the new restriction to determine if any reduction in Hong Kong purchases by visitors and resellers may be offset by increased demand in mainland China. The Company will consider actions as necessary to address any changes in market dynamics that may result from the new regulation."
News For MJN From The Last 14 Days
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October 20, 2014
12:37 EDTMJNOn The Fly: Midday Wrap
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10:14 EDTMJNMead Johnson volatility elevated, Danone not carrying out a review for takeover
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09:22 EDTMJNOn The Fly: Pre-market Movers
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06:07 EDTMJNMead Johnson downgraded to Hold from Buy at Deutsche Bank
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06:00 EDTMJNDanone acquisition of Mead would not be well received, says Bernstein
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October 19, 2014
13:21 EDTMJNDanone says not carrying out review on Mead Johnson takeover, Reuters says
In response to reports on Friday that French food company Danone (DANOY) was pursuing a takeover of pediatric nutrition company Mead Johnson (MJN), Danone made a statement on Sunday saying that it was not carrying out a review of a Mead Johnson takeover, says Reuters. Reference Link
October 17, 2014
16:17 EDTMJNOn The Fly: Closing Wrap
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12:57 EDTMJNDanone to pursue takeover of Mead Johnson, sources say, Reuters reports
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12:48 EDTMJNMead Johnson calls active on Danone will pursue takeover report
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12:36 EDTMJNDanone will pursue Mead Johnson takeover, sources say, Reuters reports
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