Covetrus Completes Separation From Henry Schein – Quick Facts

Covetrus (CVET) said all 72 transitional services agreements with Henry Schein, Inc. (HSIC), its former parent company, have now been exited. The final exit was
completed ahead of schedule and less than two years following the completion of
its spin-off.

Covetrus also announced a consolidation within its North American commercial organizations. The new structure brings together Covetrus’ North American commercial teams under unified leadership. The company’s new commercial structure also reduces duplications within the combined businesses, which impacted approximately 80 employees.

Covetrus has entered into an agreement to transfer its French distribution business, Hippocampe Caen S.A, to COVETO, a French cooperative, effective December 31, 2020.

GardaWorld Sets Aside No Increase Statement; Considering Its Options Regarding G4S

Regarding the final offer set out in the Final Offer Document published on 2 December 2020 for the share capital of G4S, Garda World Security Corp confirmed that the no increase statement regarding the offer price is no longer in effect and has been set aside. GardaWorld is considering its options and a further announcement will be made when appropriate.

The decision follows the announcement made by Allied Universal TopCo LLC of a recommended cash offer for the entire issued and to be issued share capital of G4S (GFSZY.PK,GFS.L).

GardaWorld said G4S shareholders are strongly advised to take no action at this time.

Cardtronics Receives Proposal From Apollo Global Management, And Hudson

Cardtronics plc (CATM) has received a proposal from funds managed by affiliates of Apollo Global Management, Inc. and Hudson Executive Capital LP to acquire all of the outstanding shares of the company for $31.00 per share in cash.

Douglas Braunstein, Founder & Managing Partner of Hudson Executive Capital LP, has recused himself from any discussions that the Cardtronics Board has had regarding any transaction. The company said the other members of the Board will review and assess the terms of the proposal.

U.S. Private Sector Job Growth Misses Estimates In November

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by less than expected in the month of November.

ADP said private sector employment rose by 307,000 jobs in November after climbing by an upwardly revised 404,000 jobs in October.

Economists had expected employment to increase by 410,000 jobs compared to the addition of 365,000 jobs originally reported for the previous month.

“While November saw employment gains, the pace continues to slow,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

The report said employment in the service-providing sector climbed by 276,000 jobs, reflecting notable job growth in the leisure/hospitality and education/health service industries.

Employment in the goods-producing sector also edged up by 31,000 jobs amid modest increases in construction and manufacturing jobs.

ADP also revealed employment at mid-sized businesses increased by 139,000 jobs, while small businesses at 110,000 jobs and employment at large businesses rose by 58,000 jobs.

On Friday, the Labor Department is scheduled to release its more closely watched employment report, which includes both public and private sector jobs.

Economists expect employment to increase by 500,000 jobs in November after jumping by 638,000 jobs in October. The unemployment rate is expected to edge down to 6.8 percent from 6.9 percent.

United Natural Foods Reiterates FY21 Outlook For Net Sales, Adjusted Earnings

While reporting its financial results for the first quarter on Wednesday, United Natural Foods Inc. (UNFI) reaffirmed its outlook for fiscal 2021 net sales and adjusted earnings per share, while updating its outlook for earnings per share.

For fiscal 2021, United Natural Foods now forecasts net sales in a range of $27.0 billion to $27.8 billion, earnings per share of $2.15 to $2.65, and adjusted earnings per share of $3.05 to $3.55.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.34 per share for the year on revenues of $27.26 billion. Analysts’ estimates typically exclude special items.

European Economics Preview: Germany’s Foreign Trade Data Due

Foreign trade data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s foreign trade figures for October. Exports are forecast to climb 1.2 percent on month, slower than September’s 2.3 percent increase. Meanwhile, imports are expected to rise 1 percent, reversing a 0.1 percent fall.

At 3.00 am ET, Spain’s INE releases industrial production data for October. Economists expect the production to fall 2.6 percent on year, following a 3.4 percent decrease in September.

In the meantime, foreign trade from Austria, Slovakia and Hungary are due. Slovakia’s trade surplus is seen at EUR 724.8 million in October versus EUR 707.9 million a month ago.

Several U.S. states back Texas bid to upend Biden election win at Supreme Court

(Reuters) – Seventeen U.S. states on Wednesday filed a brief at the U.S. Supreme Court supporting a bid by Texas to overturn the presidential election results.

Terry McAuliffe Jumps Into Virginia Governor’s Race

Democrat Terry McAuliffe announced on Wednesday that he is officially jumping into the 2021 Virginia governor’s race, making a bid for his old job. 

“If you know me, you know I’m an eternal optimist. But even I can’t sugarcoat it: 2020 was a tough year. To defeat COVID-19 and build an economy that truly works for all Virginians, we can’t just go back to business as usual. We need to think big, be bold, and approach our challenges as never before if we’re going to move the Commonwealth forward,” he wrote in an email to supporters Wednesday morning, describing his administration as “the most progressive” in the history of Virginia. 

McAuliffe held his official launch event at an elementary school in Richmond. 

McAuliffe was governor from 2014 to 2018 but was barred from running again due to Virginia’s term limit statute that bars governors from serving consecutive terms. He remains popular in the state and is immediately the frontrunner in the Democratic primary.

There are currently three Democrats who have declared they’re running ― Virginia Lt. Gov Justin Fairfax, state Del. Jennifer Carroll Foy and state Sen. Jennifer McClellan. Both women would make history as the state’s first female governor and the country’s first Black female governor. 

This is a breaking news story and will continue to be updated.