Shares of Johnson & Johnson (JNJ) fell 6.2% last Friday following news that the company recalled some of its baby powder in response to a U.S. Food and Drug Administration (FDA) test indicating the presence of very minor levels of asbestos. As we've previously discussed, the company faces more than 15,000 lawsuits related to claims that its talc-based products such as baby powder caused cancer due to the asbestos they contained. Johnson & Johnson has adamantly denied these allegations. If the FDA's single-bottle test checks out to be valid (could be a counterfeit product since it was purchased from an online retailer, possible cross-contamination risk in the sample, no asbestos was found by the FDA last month, etc.), then this recall deals a [...]

Energy Transfer LP (ET) units have drifted about 10% lower over the past month, causing some investors to question the safety of ET's 9.7% dividend yield. Aside from the price of oil slipping lower, which has weighed on the energy sector, the only recent news out on Energy Transfer is its planned $5 billion acquisition of midstream company SemGroup, announced on September 16.

PPL (PPL) is in discussions to merge with Avangrid (AGR), according to The Financial Times. Neither company has publicly confirmed the rumors, and it's possible no deal is reached. However, a marriage of these two utilities could unlock some benefits for PPL shareholders. We've held shares of PPL in our Conservative Retirees portfolio since July 2015, but I've had the stock under review for potential sale for most of this year due to PPL's outsized exposure to the United Kingdom (U.K.). The U.K. accounted for just over half of PPL's 2018 earnings. Besides Brexit-related political instability and currency volatility, my main concern is the profitability of PPL's core electricity distribution operations.

General Motors (GM) remains locked in its longest labor dispute since 1970, costing the company more than $1 billion according to JPMorgan Chase and The Wall Street Journal. Nearly half of GM's workforce is represented by the United Auto Workers (UAW) union. The automaker's contract with the UAW expired last month, with the UAW's nationwide strike beginning on September 16 as they seek better terms. GM's stock has slumped 12% since the strike began, and its dividend yield now hovers near 4.5%. Many of GM's factories have idled, the company's finished car inventory is drawing down, and each passing day becomes more costly with lost vehicle production.