Large Cap Companies with Strong Market cap: $MS $DEO $CAT

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Morgan Stanley New Fund

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Morgan Stanley (NYSE:MS) is also another stock whose market cap is $82.95 billion is amongst the highest in the large-cap category. The Global ESG High-Quality Growth Equity Fund that launched last month owned by Asset Management One Co and Managed by Morgan Stanley is one of the biggest in Japan. The fund raised an initial amount of $3.6 billion which is the most in Japan for a new offering in over 20 years.

Also, Morgan Stanley Wealth Management has launched a new initiative, Women Without Limits to galvanize the commitment to the success of girls and women in communities. The initiative will offer advice and guidance addressing the financial needs of women customers and employees in the company.

Diageo plc Acquires Aviation American Gin

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Diageo plc (NYSE:DEO) also has one of the largest market capitalizations of around $78.45 billion in the large-cap category. The company has acquired Aviation Gin LLC and Davos Brands for $610 million. Following the completion of the deal, the company will pay $335 million with the rest expected to be paid over ten years depending on the performance of Aviation's American Gin. This move will help the company as it seeks to expand its super-premium gin unit across the US with the addition of Sombra, Astral tequila, and Mexcal.

Despite the acquisition of the Ryan Reynolds co-owned Aviation American brand, the Hollywood celebrity will still maintain ownership in the company. The transaction is extended to be finalized at the end of this year.

Caterpillar Inc Reports Over 20% Drop In Sales In Q2 2020

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Another stock with a high market capitalization in the large-cap category is Caterpillar Inc. (NYSE:CAT) whose market cap is $77.65. The company has reported that its sales dropped 23% in the quarter ended in July 2020. The most affected region is North America where sales plunged by 38% followed by Latin America and EAME where sales dropped 11% and 25 respectively. Adjusted earnings per share dropped 64% YoY in the quarter to $1.03 due to low demand across regions and segments.

Retail sales during the quarter were under pressure despite the moderating declines in E&T and machines. Set Weber of RBC Capital indicated that CAT is in a better position relative to past quarters but NT end-user margin/demand will continue to be subdued.

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