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Clorox to sell some Latin American operations; take $233 million charge

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Clorox to sell some Latin American operations; take $233 million charge
© Reuters. Bottles of Clorox bleach are displayed for sale on the shelves of a Wal-Mart store in Rogers, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi/File Photo

(Reuters) – Bleach maker Clorox (NYSE:) said on Thursday that it would sell its operations in Argentina, Uruguay and Paraguay to private equity fund Apex Capital, as it looks to tighten its portfolio to be more profitable, and take a one-time charge of about $233 million related to the sale.

The company, whose move comes at a time when higher prices are hurting demand for consumer goods, said it will record the after-tax charge in the third quarter of fiscal 2024, which would shave off about $1.87 of its earnings per share in the quarter.

The financial terms of the deal were not disclosed.

Clorox Argentina was about 2% of the company’s fiscal 2024 net sales forecast in February, and could reduce its annual net sales growth target by about half a point, and adjusted earnings per share by up to 2 cents, the company said.

The Pine-Sol maker’s shares were down marginally in early trade.

In February, Clorox had lifted its annual targets as it posted a quick recovery from a cybersecurity incident that took its products off the shelves for a short period in September 2023.

In December, consumer goods giant Procter & Gamble (NYSE:) said it would restructure its Argentina and Nigeria operations as it deals with difficult macroeconomic conditions in the regions, along with a strong dollar.

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Trump transition team plans immediate WHO withdrawal, expert says

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By Maggie Fick and Ahmed Aboulenein

WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.

“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.

The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment. 

The Trump transition team did not immediately respond to a Reuters request for comment.

The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.

Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA. 

Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.

Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.

A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.

Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.

© Reuters. FILE PHOTO: U.S. President-elect Donald Trump attends Turning Point USA's AmericaFest in Phoenix, Arizona, U.S., December 22, 2024.  REUTERS/Cheney Orr/File Photo

Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems. 

“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.

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Just in: MicroStrategy Buys $561 Million More Bitcoin (BTC), Announces Saylor

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U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.

Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.

It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.

This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.

Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.

This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.

Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.

This article was originally published on U.Today

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Taylor Morrison Named Among America’s Most Trusted and Best Companies by Forbes

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National homebuilder ranked No. 12 on inaugural list ranking companies based on trust

SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12  out of 300 companies across all industries.

There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”

Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.

Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.

In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.

About  Taylor Morrison
Headquartered in  Scottsdale, Arizona,  Taylor Morrison  is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including  Taylor Morrison, Esplanade and Yardly. From 2016-2024,  Taylor Morrison  has been recognized as America’s Most Trusted ®  Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual  Sustainability and Belonging Report.  

For more information about  Taylor Morrison, please visit  www.taylormorrison.com.

CONTACT:
media@taylormorrison.com

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