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PepsiCo, LendingClub, Tempur Sealy and More Are Turning Heads This Morning

Vodafone Gains Control of Sky Network in New Zealand

Telecom giant Vodafone Group Plc (ADR) (NASDAQ:VOD) is trending after it agreed to merge its New Zealand division with Sky Network. The combination will amount to a $2.4 billion merger that could yield substantial synergies and help Vodafone gain more exposure to online video and TV. When all is said and done, Vodafone will have a 51% stake in the combination. Jim Simons‘ Renaissance Technologies was long almost 2.00 million shares of Vodafone Group Plc (ADR) (NASDAQ:VOD) at the end of March.

United Continental Reports Critical Metric

United Continental Holdings Inc (NYSE:UAL) disclosed that its revenue passenger miles retreated by 0.5% year-over-year in May, hampered by the strong dollar and low energy prices, which negatively affected United’s oil sector customers. Capacity was up by 0.9% and the company’s load factor for the month fell by 140 basis points to 82.5%. United expects second quarter consolidated passenger unit revenue to retreat by 6.5%-to-8.5%. Shares of United Continental Holdings Inc (NYSE:UAL) are nevertheless up by 1.6%, mainly due to the lower crude spot prices today. Cliff Asness‘ AQR Capital Management owned more than 5.00 million United Continental shares as of the latest 13F reporting period.

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Tempur Sealy Ups Its Buyback Authorization

Tempur Sealy International Inc (NYSE:TPX)’s board of directors raised the company’s buyback authorization by $200 million to $205 million, noting the authorization bump was consistent with the company’s long-term strategy of returning excess cash to shareholders when appropriate. Despite the good news, shares of Tempur Sealy International Inc (NYSE:TPX) are 3.2% lower as the broader market weakness weighs on demand. 33 top funds in our system owned $1.21 billion worth of Tempur Sealy shares at the end of March.

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Disclosure: None

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