Founded in 1898, Whirlpool (WHR) is the world's largest appliance manufacturer with over $20 billion in annual sales. The company makes and sells laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other small home appliances under brands names like Whirlpool, KitchenAid, Maytag, and Jenn-Air.

With roots tracing back to 1949, Enbridge (ENB) is North America's largest midstream energy company. The firm's oil & gas pipelines, terminals, storage facilities, and processing plants help connect the continent's most vital energy producing regions. Enbridge also owns regulated natural gas distribution utilities and various renewable power generation assets.

In business since 1837, Procter & Gamble (PG) has grown into one of the world’s largest manufacturers of consumer goods. The company currently sells 65 product brands in more than 180 countries. Procter & Gamble's leading brands include Luvs, Pampers, Tampax, Charmin, Downy, Tide, Cascade, Dawn, Febreze, Head & Shoulders, Old Spice, Pantene, Gillette, Braun, Crest, and Oral-B.

Magellan Midstream Partners (MMP) is one of America’s largest master limited partnerships. The firm's pipeline systems primarily transport refined petroleum products such as gasoline and diesel fuel from refineries, helping them eventually reach gas stations, truck stops, airports, and other end users. Magellan owns the longest refined products pipeline system in the country, extending over 9,700 miles from the Gulf Coast. The MLP also owns storage facilities, terminals, and several thousand miles of ammonia and oil pipelines. Refined products generated 59% of Magellan's 2018 operating margin, followed by crude oil (34%) and marine storage (7%).

Enterprise Products Partners (EPD) is one of North America's largest midstream master limited partnerships, with about 50,000 miles of natural gas, natural gas liquids (NGL), crude oil, refined products, and petrochemical pipelines. The firm also owns a number of storage facilities, processing plants, and export terminals.Enterprise’s network of assets is connected to nearly every major U.S. shale basin, helping move different types of energy and fuel from one location to another for upstream exploration and production (E&P) companies. The firm is also one of the largest exporters of crude oil, as well as NGL and NGL-derived products. Enterprise makes most of its money from fees it charges E&P customers for its transportation and storage services. 

Vodafone (VOD) was founded in 1984 in the U.K. and has grown into one of the world’s largest telecom conglomerates.  Along with its joint venture partners, the company has about 625 million mobile customers, 27 million fixed broadband customers, and 22 million TV customers throughout Europe and dozens of other countries worldwide. Mobile services, which enable customers to call, text, and access data, account for nearly 70% of Vodafone's revenue and an even higher proportion of profits. Fixed line services include broadband, TV offerings, and voice and account for most of the remainder of the business.

Founded in 1903, Ford (F) is one of the largest auto makers worldwide. The company sells a full line of Ford trucks, SUVs, cars, and Lincoln luxury vehicles. Ford also provides financial services and is investing in electrification, autonomous vehicles, and mobility solutions.

International Flavors & Fragrances (IFF) announced plans on December 15 to acquire DuPont's Nutrition and Biosciences business for $26.2 billion in a deal that would more than double the company's size. DuPont shareholders will own 55.4% of the new company and existing IFF investors will own 44.6%. Investors didn't like the news, sending IFF shares 10% lower yesterday. However, from a strategic perspective, the deal actually looks appealing (in theory). DuPont's nutrition business is a reasonably attractive asset with an impressive 24% EBITDA margin and a presence in many markets with decent long-term growth potential.

Boeing (BA) said Monday it would temporarily suspend production of its grounded 737 MAX beginning in January. Many investors had anticipated this news, as demonstrated by Boeing's relatively muted stock price reaction (shares are down about 4% since Friday's close). As you may recall, the 737 MAX is Boeing's best-selling plane model (expected to account for about 40% of total profits) and has been grounded since March 2019 following two deadly crashes. Earlier this year Boeing had already reduced its planned production rate of 737 aircraft.

Founded in 1898, Archer Daniels Midland (ADM) generates most of its revenue from procuring, transporting, and processing corn, oilseeds, wheat, and other commodities which are turned into products for food, beverage, animal feed, chemical, and energy uses around the world. The firm's end products include vegetable oil, protein meal, flour, corn sweeteners, starch, ethanol, and other food and feed ingredients.