Author: Smead Capital Management

AmEx Second-Quarter Profit Drops as Card-Spending Growth Slows By Elizabeth Dexheimer For more information go to www.bloomberg.com. The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Evan Greenberg, Long in Father’s Shadow, Comes Into His Own By Sonali Basak, Selina Y Wang, and Noah Buhayar For more information go to www.bloomberg.com. The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice.

ACE Agrees to Buy Chubb for $28.3 Billion By Lisa Beilfuss and Leslie Scism For more information go to www.wsj.com. The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee

Merck’s New-Drug Pipeline Looks Promising By Avi Salzman For more information go to www.barrons.com. The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results. The securities identified