Business briefs, Dec. 31,2015
PALMETTO -- As the Publix undergoes a store remodel, the store will close early several nights to complete food case installations.
The Publix at 1101 Eighth Ave. W., Palmetto, will close at 8 p.m. on Jan. 4-7, 11-14, and 18 -19. New cases in the frozen and meat departments will be installed during those evenings, according to Publix spokesman Brian West.
"All sales floor case updates should be completed by the middle of February," West said in an email.
Bealls distribution center hosting hiring event
BRADENTON -- CareerSource Suncoast and Bealls Distribution will pair to host a hiring event at the Bealls distribution center, 2100 47th Terrace Ave. E.
Interviews will be from 8 a.m. to 2 p.m. Jan. 5 for first- and second-shift processors and material handlers.
The employer will conduct drug screening, reference checks and background checks. All applicants are asked to wear closed-toe shoes so they are able to tour the distribution center.
Another drop in energy stocks leads market lower
The latest downturn in crude oil prices put investors in a selling mood Wednesday, pulling U.S. stocks lower for the second time this week. The market decline, which wiped out some of the gains from a rally the day before, came on lighter-than-usual trading ahead of the New Year's Day holiday.
Energy companies fell 1.5 percent, the most among the 10 sectors in the Standard & Poor's 500 index. The sector is down 23.8 percent for the year. The price of oil shed 3.4 percent on Wednesday, extending its losses for the year to nearly 40 percent.
The Dow Jones industrial average fell 117.11 points, or 0.7 percent, to 17,603.87. The S&P 500 index dropped 15 points, or 0.7 percent, to 2,063.36. The Nasdaq composite lost 42.09 points, or 0.8 percent, to 5,065.85.
The day's market action cut into the S&P 500's slim gain for the year. The index remains essentially flat with an increase of 0.2 percent this year. The Nasdaq is up about 7 percent, while the Dow is on track to end 2015 with a loss of 1.2 percent.
Carl Icahn wins bidding war for Pep Boys chain
After a tug of war between the activist investor Carl C. Icahn and the Bridgestone Corp., the auto-parts retailer Pep Boys on Wednesday officially picked its suitor.
Icahn Enterprises won the bidding for Pep Boys, announcing a definitive agreement to buy the chain in an all-cash deal for $18.50 a share, or roughly $1 billion. The boards of Ichan Enterprises and Pep Boys have approved the deal, which is expected to close in the first quarter of 2016, the companies said.
The bidding war ended Tuesday when Bridgestone, based in Japan, said it would not counter the raised offer that Icahn Enterprises made Monday, de
spite raising its bid in two earlier rounds, including one late last week. Bridgestone, the largest tire and rubber company, was the first to announce a deal for Pep Boys in October, for $15 a share, or $835 million.
Pep Boys is based in Philadelphia and has more than 800 retail locations in 35 states, selling a range of products and services including tires, accessories, maintenance and repair. Icahn, who bought Auto Plus in June, has said he was looking for another acquisition that could build that business. Icahn Enterprises owns 12.1 percent of Pep Boys.
-- Herald staff, wire reports
This story was originally published December 30, 2015 at 8:17 PM with the headline "Business briefs, Dec. 31,2015 ."