- S&P notes that Procter & Gamble Co. is merging its Folgers coffee business with Smucker in an exchange offer that is expected to expire on that date. As of today’s close of trading, Terex’s market capitalization was approximately $1.65B, whereas the minimum market cap a company currently needs for admission to the S&P 500 is $4.0B.

Other headlines for [SJM]

• SJM 11/21/2008 07:00am
  J.M. Smucker Co Reports Q2 $0.94 v $1.01e, R $843.1M v $796Me; Reaffirms FY09 outlook- Reaffirms FY09 EPS $3.45-3.50 v $3.47e, R $3.8-4.0B v $3.85Be as given on 8/14/08 - Q3 US retail market $635M v $535M (+19% more...
  
• SJM 11/19/2008 05:55am
  J.M. Smucker Co Bank of America Raised SJM to Buy from Sell, price target: $48
  

Consumer staples sector headlines

• TSN Today 03:32pm
  Tyson Foods Inc Interim CEO: No major layoffs planned, poultry units wil be restructured- The company intends to select a new, permanent CEO as soon as possible and hopes the new leader can be identified from the more...
  
• CPWM Today 02:31pm
  Cost Plus Inc. Reports Dec SSS -4.3%; announces plans to close 26 stores- Expects pre tax impairment of $4M - will reduce home office and distribution center staff by 18% and will implement a number of additional more...
  
• CVS Today 12:39pm
  CVS Corp Hearing removed from Goldman Sachs conviction buy list (timing uncertain)
  
• DMND Today 09:08am
  Diamond Foods, Inc. Long Bow Research Raised DMND to Buy from Neutral, price target: $27
  
• CVS Today 08:49am
  CVS Corp CFO: Guides FY09 Rev growth of 10.5-12.5% - conf call- Guides Q1 Rev +8-10% - Puts 2009 CAPEX at $1-1.2B with free cash flow of approx $3.5B