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P&G may sell beauty lines, Lifetime Fitness going private & Netflix hit with sell rating

Yahoo Finance

It's a new week and there are a number of takeovers including Lifetime Fitness (LTM).  Shares of the company, which owns and operates big workout facilities, are rallying 5% on news its going private in a deal worth nearly $3B or $72.10 cents a share. Private Equity firms Leonard Green and TPG Partners are behind one of the largest leveraged buyouts of the year and it may not be the last. Just last week, smaller rival Town Sports International Holdings (CLUB), which owns chains including New York Sports, disclosed it is also exploring strategic options.

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Procter & Gamble (PG) shares are getting a boost on reports the company may sell or IPO some of its beauty lines, according to a Bloomberg report. Oil of Olay and Cover Girl are among the Dow (^DJI) member's many brands and generated about $19.5 billion in sales in the year through June, or about 23 percent of total sales of $83 billion, according to P&G’s annual report. Any deal would accelerate the company's plans to exit up to 100 product lines.

Finally, Netflix (NFLX) is taking a beating today, shares are off over 3% after the team at Evercore ISI told clients to sell the stock because content rivals, including Time Warner's HBO (TWX), are becoming formidable competitors. Just last night HBO wrapped a six-part documentary on real-estate heir Robert Durst, who was arrested Sunday on a murder charge and the hit drama Game of the Thrones kicks off a new season next month. HBO has about 136 million subscribers, compared to Netflix's 57 million.

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