Santa asks the Board, “Has the year been naughty or nice?”
By Larry C. Paxton
November 2014 was a very eventful month, starting with the US elections that saw the Republicans gain a majority in the Senate and increase their majority in the House. President Obama exercised his executive privileges in the areas of net neutrality and immigration.
There were over $125 billion in new deals announced by 10 of The PBR1000 companies, the largest being Actavis(PBR297) winning the bidding war to acquire Allergan(PBR391) for $66 billion. Spinoffs have become popular and shares buyback programs continue to proliferate. While the stock market indexes were at record highs, a major event was the significant drop in oil prices. A lot of global maneuvering is starting to take place with that shift, leaving the big question: how it will affect the economy both short and long term?
While we gave thanks for the many blessings we have on Thanksgiving Day, we also can’t help but be concerned by the obvious lack of growth of the middle class, and the unrest it is causing seen by recent marches demanding livable wages. This has been compounded by the events of the Ferguson, Missouri, decisions and riots after the grand jury results were announced.
November ended with a lot of Black Friday hype, but with lower than expected sales. December starts with Cyber Monday, which is expected to take a big leap. But will data breaches and identity theft put a dent in at store and online purchases? So, the stage has been set for December with a lot of question marks, but I also sense with a feeling of very cautious optimism.
Following are the November Breaking News items, from the latest date to the first:
Friday, November 28:
Welcome to Black Friday!
DJIA closes week at 17,828.24, +0.10% from last Friday, 2.52% MTD, +4.61% QTD, +7.55% YTD.
NASDAQ closes week at 4,791.63, +1.67% from last Friday, +3.47% MTD, +6.64% QTD, +14.73% YTD.
SPX closes week at 2,067.56, +0.20% from last Friday, +2.45% MTD, +4.83% QTD, +11.86% YTD.
Coca-Cola Co(PBR58), SABMiller, & Coca-Cola SABCO to form Coca-Cola Beverages Africa to serve South & East Africa markets. Click here for the Coca-Cola press release.
Enbridge Energy(PBR353) acquires 80% interest in 2 US wind farms, in Texas & Indiana, from E.ON, who will remain operator, for $650 million. Click here for the Enbridge press release.
BE Aerospace(PBR608) is informed by NASDAQ that the KLX spin-off will start trading on 12/17/14 with the symbol KLXI. Click here for the BEA press release.
Thursday, November 27:
Markets are closed.
Happy Thanksgiving Day,
Give Thanks and Travel Safe!
Wednesday, November 26:
The US Dept of Commerce in a preliminary report says October personal income was +0.2% over September, real disposable income was +0.1%. Click here for the USDOC press release.
The US Dept of HUD preliminary report shows October new home sales at a 458,000 annual rate, +0.7% over September. Click here for the HUD press release.
Tuesday, November 25:
Aetna(PBR57) completes acquisition of private healthcare shopping exchange technologies company bswift for $400 million. Click here for the Aetna press release.
Harbinger Group(PBR431) chairman/CEO Philip Falcone resigns effective 12/01/14, independent board director Joseph Steinberg to be chairman, CEO search to begin. Click here for the Harbinger press release.
BE Aerospace(PBR608) board approves separation of KLX unit & shares distribution, to take place 12/16/14. Click here for the BE Aerospace press release.
Greenbrier Cos(PBR931) promotes Jack Isselmann to SVP/External Affairs & Programs, reports to chairman/CEO. Click here for the Greenbrier press release.
The US Dept of Commerce reports that the 3rd quarter 2014 2nd Estimate GDP was at a 3.9% annual rate. Click here for the USDOC press release.
Monday, November 24:
HealthSouth(PBR820) to acquire privately held 5,000 employee Encompass Home Health & Hospice for $750 million, to close by end of 2014. Click here for the HealthSouth press release.
United Technologies(PBR45) chair/CEO Louis Chenevert retires, effective immediately, SVP/CFO Greg Hayes appointed president/CEO. Click here for the UTC press release.
American Tower(PBR623) to acquire 4,800+ communications towers in Nigeria from a Netherlands based Bharti Airtel subsidiary. Click here for the AT press release.
Jarden(PBR341) does 3:2 stock split. Click here for the Jarden press release.
SunEdison(PBR882) & Brazil based Renova Energia create a 50/50 joint venture to develop 1 Gigawatt of solar power in Brazil. Click here for the SunEdison press release.
A. Schulman(PBR854) appoints Brent Middleton as VP/GM for US/Canada & Gustavo Perez as VP/GM Latin America. Click here for the AS press release.
Friday, November 21:
DJIA closes week at 17,810.06, +0.99% from last Friday, 2.41% MTD, +4.50% QTD, +7.44% YTD.
NASDAQ closes week at 4,712.97, +0.52% from last Friday, +1.78% MTD, +4.89% QTD, +12.84% YTD.
SPX closes week at 2,063.50, +1.16% from last Friday, +2.25% MTD, +4.62% QTD, +11.64% YTD.
Cardinal Health(PBR26) physician office-focused commercial organization to be consolidated with the Henry Schein(PBR274) Medical Group per longterm strategic agreement. Click here for the Henry Schein press release.
LabCorp(PBR418) completes acquisition of cardiovascular diagnostic lab tests on NMR provider LipoScience(NASDAQ: LPDX) for $5.25/share, $85.3 million transaction value. Click here for the LabCorp press release.
Abercrombie & Fitch(PBR557), in its first franchise agreement, to open its brand stores in Mexico through Grupo AXO. Click here for the A&F press release.
American Tower(PBR623) to acquire 2 portfolios totaling 6,480 cellular towers in Brazil from TIM Cellular SA for $1.2 billion. Click here for the AT press release.
Scientific Games(PBR1069) completes its acquisition of Bally Technologies for $5.1 billion. Click here for the SG press release.
Aetna(PBR57) authorizes $1 billion shares buyback plus $464 million remaining from previous buyback program. Click here for the Aetna press release.
Dillard’s(PBR367) authorizes $500 million Class A Common shares buyback program. Click here for the Dillard’s press release.
Flowers Foods(PBR588) increases its stock buyback program to 15 million shares. Click here for the FF press release.
Thursday, November 20:
Alcoa(PBR122) completes $2.85 billion cash/stock buy of UK based jet engine parts producer Firth Rixson. Click here for the Alcoa press release.
Apache Corp(PBR168) has added 300,000 leasehold acres in 2014, selling its non-core Louisiana & some Anadarko Basin oil & gas assets for $1.4 billion. Click here for the Apache press release.
Cognizant Technology(PBR292) completes acquisition of privately held healthcare IT software developer TriZetto for $2.7 billion cash. Click here for the CT press release.
Blackstone Group(PBR372) to acquire GE Capital’s Japan residential business of over 10,000 units for $1.6 billion. Click here for the Blackstone press release.
Fiserv(PBR484) authorizes 20 million shares repurchase program. Click here for the Fiserv press release.
Activision Blizzard(PBR510) announces its Call of Duty video game is biggest entertainment launch of the year, lifetime sales now exceeds $10 billion. Click here for the AB press release.
W.R. Grace(PBR657) to acquire remaining 50% from Turkey construction products joint venture partner, terms not disclosed. Click here for the WRG press release.
Corinthian Colleges(PBR968) selling 56 Everest & WyoTech campuses to nonprofit ECMC Group, to close in January, 2015. Click here for the CC press release.
Hertz(PBR249) elects travel & transportation industry veteran John Tague as president/CEO, effective 11/21/14. Click here for the Hertz press release.
Clorox(PBR428) has new CEO, former EVP/COO Benno Dorer. Click here for the Clorox biography of BD.
Children’s Place Retail(PBR929) appoints Anurup Pruthi as SVP/CFO, effective 12/01/14, reports to COO. Click here for the CPR press release.
The US Dept of Labor reports that October current earnings were up 0.1% to $24.57/hr average, $850.12/week, for 34.6 hour workweek. Click here for the USDOL press release.
The US Dept of Labor reports that the October Consumer Price Index was unchanged over September, 1.7% YTD. Click here for the USDOL press release.
The White House blog on President Obama’s speech regarding his plan to sign executive orders on immigration policy. Click here for the White House post.
Wednesday, November 19:
Family Dollar(PBR254) moves special stockholders meeting from 12/11/14 to 12/23/14 to vote on $9.2 billion merger with Dollar Tree(PBR328). Click here for the Family Dollar press release.
Dollar General(PBR154) affirms commitment to acquire Family Dollar(PBR254), working with FTC on terms. Click here for the Dollar General press release.
Avis Budget(PBR325) completes $210 million plus fleet cost deal for Budget licensee of S. California & Las Vegas. Click here for the Avis Budget press release.
Cliffs Natural Resources(PBR421) pursuing exit options for its Eastern Canadian operations. Click here for the CNR press release.
Yahoo!(PBR495) to be default mobile & desktop search engine in the US for Mozilla Firefox starting in 12/14 per 5 year strategic agreement. Click here for the Yahoo! press release.
Keuring Green Mountain(PBR532) announces that 11 year CFO/Treas Frances Rathke leaving in 2015 when replacement found. Click here for the KGM press release.
Arthur J Gallagher(PBR648) acquires Muscatine, IA, retail insurance broker Miller-Harrison Insurance Services. Click here for the AJG press release.
Crown Castle Intl(PBR668) stockholders vote to merge with wholly owned subsidiary Crown Castle REIT, to close by year end. Click here for the CCO press release.
Health Care REIT(PBR691) completes acquisition of HealthLease Properties REIT, includes portfolio of senior living, acute care, long-term care communities. Click here for the HCREIT press release.
Corinthian Colleges(PBR968) receives NASDAQ notice regarding inability to file latest 10-K & 10-Q reports. Click here for the CC press release.
The Federal Reserve Board announces the appointments of chairs and deputy chairs for the 12 Federal Reserve Banks for 2015. Click here for the FRB press release.
The Federal Reserve Board in its Oct 29 Open Market Committee report says the economy is expanding at moderate pace. Click here for the FRB press release.
The US Dept of HUD preliminary report says that October private housing building permits was at a 1,080,000 annual rate, +4.8% over September. Click here for the HUD press release.
The US Dept of Labor reports a net increase of 397,000 private sector jobs in 1st quarter 2014. Click here for the USDOL press release.
Tuesday, November 18:
Archer-Daniels-Midland(ADM)(PBR27) completes buy of Specialty Commodities for $191 million, announces some senior management changes. Click here for the ADM press release.
Avon(PBR266) announces leadership changes in Latin America, headquarters. Click here for the Avon press release.
Micron Technology(PBR284) announces CFO/VP of Finance Ronald Foster to retire effective 02/28/15. Click here for the MT press release.
Darden Restaurants(PBR392) says CFO Brad Richmond to retire by 03/31/15, Chief HR Officer Daisy Ng resigning, being replaced by SVP Danielle Kirgan, SVP Government & Community Affairs Bob McAdam to leave at end of year; also restructuring Olive Garden & Longhorn field leadership. Click here for the Darden press release.
The US Senate votes 59-41 in favor of the Keystone XL Pipeline, 1 vote short needed for passage. Click here for the Library of Congress notice.
The US Dept of Labor reports that the October Producer Price Index(PPI) was up 0.2%, with services up 0.5%, goods down 0.4%. Click here for the USDOL press release.
Monday, November 17:
Actavis(PBR297) to acquire healthcare products provider Allergan(PBR391) for $219/share, $66 billion. Click here for the Actavis press release.
Fidelity Natl Fin(PBR300) FNFV unit completes sale of Comdata to FleetCor for stock valued at $356 million. Click here for the FNF press release.
Canada based Valeant Pharmaceuticals(NYSE: VRX) says it cannot justify $219/share bid for Allergan(PBR391), will not be submitting any further offers. Click here for the Valeant press release.
Halliburton(PBR94) to acquire oilfield products & services provider Baker Hughes(PBR124) for $78.62/share, $34.6 billion in cash & stock. Click here for the Halliburton press release.
Medtronic(PBR162) & Ireland based medical supplies provider Covidien shareholders to meet on 01/06/15 to approve $49.2 billion cash acquisition. Click here for the Medtronic press release.
Actavis(PBR297) completes $23/share, $675 million tender offer of Durata Therapeutics outstanding shares. Click here for the Actavis press release.
Lennar(PBR414) & Macerich(PBR1083) to do 500,000 sf urban outlet joint venture 50/50 project in upscale mixed use San Francisco area Candlestick Point. Click here for the Lennar press release.
SunEdison(PBR882) & indirect subsidiary TerraForm Power to acquire wind projects developer & operator First Wind for $2.4 billion. Click here for the SunEdison press release.
Cummins(PBR158) names Tracy Embree as president, Components Group, reports to COO Rich Freeland. Click here for the Cummins press release.
AES Corp(PBR171) EVP/COO Andrew Vesey leaving effective 12/31/14, for CEO position in Australia. CFO Bernerd Da Santos to also be acting COO 12/01/14. Click here for the AES press release.
American Axle & Mfg(PBR643) names Nigel Francis VP Corp Planning, Jon Morrison as Pres, AAM N America. Click here for the AAM press release.
Fairchild Semiconductor(PBR1002) Chairman/CEO Mark Thompson to add President title after departure of Pres/COO Vijay Ullal. Click here for the FS press release.
In Nov US economy/housing outlook FreddieMac(PBR33) forecasts 2015 3.0% economy growth rate, 5% more housing sales. Click here for the FreddieMac press release.
Saturday, November 15:
Open enrollment for health care plans starts today through 12/15/14 for coverage starting 01/01/15. Click here for the HealthCare.gov website.
Friday, November 14:
DJIA closes week at 17,634.74, +0.35% from last Friday, 1.40% MTD, +3.47% QTD, +6.38% YTD.
NASDAQ closes week at 4,688.54, +1.21% from last Friday, +1.25% MTD, +4.34% QTD, +12.26% YTD.
SPX closes week at 2,039.82, +0.39% from last Friday, +1.08% MTD, +3.42% QTD, +10.36% YTD.
Hertz(PBR249) to buy 350,000 2015 vehicles, implement a $100 million cost reduction program, restate 2011-2013 financials. Click here for the Hertz press release.
Flowserve(PBR473) to acquire Netherland’s based engineered vacuum and fluid pumps provider SIHI Group BV for $372.5 million. Click here for the Flowserve press release.
Arthur J Gallagher(PBR648) acquires Richmond, VA, based human resource consulting services firm The Titan Group, terms not disclosed. Click here for the AJG press release.
Albemarle(PBR739) & Rockwood Holdings(PBR1006) shareholders approve merger, to close 1st quarter 2015. Click here for the Albemarle press release.
Kroger(PBR24) announces that its Ralphs Grocery Co to hire for 1,200 permanent positions in So. California. Click here for the Kroger press release.
Ashland(PBR331) elects Bill Wulfsohn, former Pres/CEO of Carpenter Technology(PBR836), as Chairman/CEO, effective 01/01/15, succeeds James O’Brien, who is retiring . Click here for the Ashland press release.
Carpenter Technology(PBR836) announces chairman Gregory Pratt to also be CEO again, effective immediately, replaces Bill Wulfsohn who is leaving to become chairman/CEO of Ashland(PBR331). Click here for the CT press release.
Thursday, November 13:
Berkshire Hathaway(PBR4) to acquire Duracell in exchange for Proctor & Gamble(PBR32) shares valued at $4.7 billion. Click here for the P&G press release.
Expedia(PBR491) completes acquisition of Australia based online travel company Wotif Group for $612 million. Click here for the Expedia press release.
Graham Holdings(PBR607) to do tax free spin-off of subsidiary Cable ONE as a separate public company in 2015. Click here for the GH press release.
Baker Hughes(PBR124) confirms it is in preliminary merger talks with Halliburton(PBR94). Click here for the BH press release.
AIG(PBR41) appoints Charlie Shamieh CEO Life, Health, and Disability Insurance; Alessa Quane named Corporate Chief Actuary. Click here for the AIG press release.
Diebold(PBR694) names Tom Signorello as SVP N American Sales & Mychal Kempt as VP Global Launch Management. Click here for the Diebold press release.
Rackspace(PBR983) appoints Todd Cione as Chief Revenue Officer. Click here for the Rackspace press release.
The US Dept of Labor reports that there were 4.7 million job openings at end of September, 5.0 million hires, & 4.8 million separations. Click here for the USDOL press release.
The US Dept of Labor reports that for the week ending 11/08/14 initial unemployment claims were 290,000, up 12,000 from the previous week. Click here for the USDOL press release.
Wednesday, November 12:
Cognizant Technology(PBR292) acquires Australia based digital solutions provider Odecee, terms not disclosed. Click here for the Cognizant press release.
BB&T(PBR252) to acquire top 50 bank PA based Susquehanna Bancshares for $2.5 billion cash & stock. Click here for the BB&T press release.
UnitedHealth Group(PBR14) forms Office of the CEO, announces senior leadership changes. Click here for the UHG press release.
An Enterprise Products(PBR56) subsidiary & Oiltanking Properties(NYSE: OILT) to merge, $6 billion total value in distributions. Click here for the EP press release.
Annaly Capital(PBR509) subsidiary acquires a portfolio of 11 properties with grocery-anchored shopping centers, total of 1.48 million sq ft. Click here for the Annaly press release.
Macerich(PBR1083) buys remaining 40% stake in Fashion Outlets of Chicago for $70 million, comes after October $205 million sale of South Towne Center in Sandy, UT. Click here for the Macerich press release.
The White House reports on US & China announcement on new actions to reduce carbon pollution. Click here for the White House press release.
The White House blog regarding President Obama’s plan for net neutrality. Click here for the White House press release.
The US Dept of Commerce reports preliminary September Wholesale Trade sales were at $454.3 billion, up 0.2% over August. Click here for the USDOC press release.
Tuesday, November 11:
It’s Veterans Day. A sincere Thank You to all Veterans for your service to our country.
Yahoo!(PBR495) to acquire video ads platform developer BrightRoll for $640 million cash. Click here for the Yahoo! press release.
Mondelez Intl(PBR84) to acquire 80% ownership in Vietnam’s leading confectionary provider Kinh Do Corp for $370 million. Click here for the Mondelez press release.
Fossil Group(PBR637) & fashion Michael Kors Holdings renew global licensing agreement through 2024. Click here for the Fossil press release.
Arthur J Gallagher(PBR648) acquires Arlington Heights, IL, retail insurance agency The Forker Company, terms not disclosed. Click here for the AJG press release.
Service Corp Intl(PBR754) increases share repurchase program to $300 million. Click here for the SCI press release.
Juniper Networks(PBR496) names 17 year company veteran Rami Rahim as CEO, effective immediately, takes over for Shaygan Kheradpir. Click here for the JN press release.
DeVry Education Group(PBR899) announces death of board chairman Dr. Connie Curran; Lyle Logan appointed interim board chair. Click here for the DeVry press release.
The White House provides Fact Sheet on APEC Regional Trade agreements reached in conference in China. Click here for the White House press release.
Monday, November 10:
Heartland Payment Systems(PBR853) acquires foodservice enterprise level POS software developer 25,000 user locations, $15 billion in transactions XPIENT Solutions, terms not disclosed. Click here for the HPS press release.
Arthur J Gallagher(PBR648) acquires Woodland Hills, CA, based SGB-NIA Insurance Brokers, terms not disclosed. Click here for the AJG press release.
The Assn of Professional Flight Attendants narrowly defeats a new contract with American Airlines. Agreement to go to arbitration starting 12/03/14. Click here for the APFA press release.
President Obama’s official statement on net neutrality: Click here for the Whitehouse press release.
Caesars Entertainment(PBR301) announces CFO Donald Colvin retiring on 12/31/14, Eric Hession to become CFO on 01/01/15. Click here for the Caesars press release.
Actavis(PBR297) announces that Maria Teresa(Tessa) Hilado to become CFO, effective 12/08/14, is leaving PepsiCo, & will take over for retiring R Todd Joyce. Click here for the Actavis press release.
Friday, November 7:
DJIA closes week at 17,573.93, +1.05% from last Friday & MTD, +3.12% QTD, +6.02% YTD.
NASDAQ closes week at 4,632.53, +0.04% from last Friday & MTD, +3.10% QTD, +10.92% YTD.
SPX closes week at 2,031.92, +0.69% from last Friday & MTD, +3.02% QTD, +9.93% YTD.
AT&T(PBR12) to acquire Mexico 8.6 million subscriber wireless provider lusacell for $2.5 billion. Click here for the AT&T press release.
Johnson & Johnson(PBR39) completes $1.75 billion cash buy of viral diseases developer Alios BioPharma. Click here for the J&J press release.
Sears Holdings(PBR81) announces possible REIT business plan through sale-leaseback of stores to bolster balance sheet. Click here for the Sears press release.
Estee Lauder(PBR242) to acquire ultraluxury fragrances company Editions de Parfums Frederic Malle, terms not disclosed. Click here for the EL press release.
Calpine Corp(PBR390) completes acquisition of Boston area natural gas-fired 809 Megawatt power plant from Exelon Corp(PBR108) for $530 million. Click here for the Calpine press release.
Bemis(PBR466) completes sale of its global Pressure Sensitive Materials unit(MACtac) to private equity firm Platinum Equity for $170 million. Click here for the Bemis press release.
Ford(PBR8) announces several senior leadership changes. Click here for the Ford press release.
Fastenal(PBR625) announces Willard Oberton is resigning as CEO on 12/31/14, will remain chairman, board elects president Leland Hein to be Pres/CEO on 01/01/15. Click here for the Fastenal press release.
The US Dept of Labor reports that October nonfarm employment was up 214,000 and the unemployment rate drops 0.1% to 5.8%. Click here for the USDOL press release.
The US Federal Reserve Board reports that consumer credit rose to a 6.5% annual rate during the 3rd quarter. Click here for the FRB press release.
Thursday, November 6:
New York Times(PBR976) launches in-school digital subscription program for K-12. Click here for the NYT press release.
Home Depot(PBR35) releases more information on data breaches, including 53 million email addresses. Click here for the HD press release.
Perrigo(PBR563) to buy Belgium based over-the-counter healthcare products company Omega Pharma NV for $4.5 billion cash & equity. Click here for the Perrigo press release.
Arthur J Gallagher(PBR648) acquires San Diego based Discovery Benefit Solutions, terms not disclosed. Click here for the AJG press release.
FreddieMac(PBR33) reports that 30 year fixed mortgage rates as of 11/06/14 averaged 4.02% with 0.5 points. Click here for the FreddieMac press release.
The US Dept of Labor in its preliminary report says that the non-farm labor productivity annual rate was up 2.0% during the 3rd quarter. Click here for the USDOL press release.
The US Dept of Labor reportsthat initial unemployment claims at 278,000, down 10,000 from previous week. 4 week moving average at 279,000. Click here for the USDOL press release.
The US Congressional Budget Office projects the US Dept of Defense 2015-2021 plans to cost an average of $47 billion more per year than provided in the Budget Control Act. Click here for the CBO press release.
Wednesday, November 5:
Motorola Solutions(PBR296) buys back $750 million of common stock from ValueAct Capital. Click here for the MS press release.
AES Corp(PBR171) wins 20 year contracts for 1,384MW of new power at existing California power plants. Click here for the AES press release.
Carnival(PBR173) to increase its fleet capacity by 10% with 4 new ships in the next 18 months. Click here for the Carnival press release.
Booz Allen Hamilton(PBR437) says Carlyle Group(PBR525) affiliate sold 10 million Class A shares to JPMorgan(PBR18), Carlyle will now own 37% of BAH Class A shares. Click here for the BAH press release.
Carlyle Group(PBR525) & coinvestors to acquire investment banking industry software & data platforms provider Dealogic for $700 million. Click here for the CG press release.
Babcock & Wilcox(PBR636) approves spin-off of Power Generation business into a separate publicly held company. Click here for the B&W press release.
Orbital Sciences(PBR1010) announces go-forward plan for NASA’s commercial resupply services program, updates last week’s failed launch. Click here for the OS press release.
Archer-Daniels-Midland(PBR27) Pres/COO Juan Luciano to become Pres/CEO on 01/01/15, Patricia Woertz to remain Chairman. Click here for the ADM press release.
Boise Cascade(PBR635) appoints EVP Tom Corrick as COO, effective immediately. SVP/CFO/Treas Wayne Rancort now an EVP. Click here for the BC press release.
Actavis(PBR297) announces CFO R Todd Joyce to retire in early 2015, exec search firm retained. Click here for the Actavis press release.
The US Dept of Labor reports that inflation adjusted compensation costs for private industry employees increased 0.6% over the past year. Click here for the USDOL press release.
Tuesday, November 4:
It’s Election Day. VOTE!!!
Plains All-American Pipeline(PBR68) & Enterprise Products(PBR56) in 50/50 Eagle Ford joint venture to expand pipelines, add new terminal. Click here for the PAAP press release.
Allergan(PBR391) responds to CA court decision to allow Valeant to vote its 9.7% ownership in the 12/18/14 special stockholders meeting re $54 billion offer. Click here for the Allergan press release.
Liberty Media(PBR570) completes spin-off of publicly held Liberty Broadband(NASDAQ: LBRDA, LBRDK), to start trading 11/05/14. Click here for the LM press release.
Sigma-Aldrich(PBR715) completes buy of invitro diagnostic antibody reagents & kits company Cell Marque. Click here for the S-A press release.
Applied Industrial Technologies(PBR782) has acquired supplier to W Texas upstream oil & gas facilities Ira Pump & Supply, terms not disclosed. Click here for the AIT press release.
The US Bureau of Census/Dept of Commerce reports that the September US international trade balance decreased to -$43.0 billion from -$40.0 billion in August(revised). Click here for the Census/Commerce press release.
The US Bureau of Census/Dept of Commerce reports that September new orders for manufactured goods was down $2.8 billion, or 0.6%, from August to $499.4 billion. Click here for the Census/Commerce press release.
Monday, November 3:
LabCorp(PBR418) to acquire Covance(PBR745) for $105.21/share, $5.6 billion. Click here for the LabCorp press release.
Aetna(PBR57) to acquire private healthcare shopping exchange technologies company bswift for $400 million. Click here for the Aetna press release.
Alcoa(PBR122) investing $190 million in Davenport Works, IA, facility, to expand aerospace/industrial applications. Click here for the Alcoa press release.
Estee Lauder(PBR242) completes acquisition of French heritage high end fragrancy & sensory lifestyle company Le Labo. Click here for the EL press release.
Agilent Technologies(PBR365) completes spin-off of electronic measurements business Keysight, now publicly trading under KEYS. Click here for the AT press release.
Blackstone Group(PBR372) & PAI Partners sell UK based United Biscuits to Yildiz Holding, terms not disclosed. Click here for the Blackstone press release.
Dr Pepper Snapple(PBR409) acquires assets of E Pennsylvania based Davis Bottling & Davis Beverage, terms not disclosed. Click here for the DrPS press release.
Frontier Communications(PBR492) expands strategic agreement with Intuit(PBR548) to provide support for online small business services for $100 million over 3 years. Click here for the FC press release.
Vornado Realty(PBR709) to sell 1740 Broadway for $605 million, completes acquisition of St Regis Avenue Retail. Click here for the VR press release.
Sigma-Aldrich(PBR715) announces 12/05/14 as stockholder special meeting date for vote on $17 billion acquisition by Germany based Merck. Click here for the S-A press release.
Chemtura(PBR828) completes $1 billion sale of its AgroSolutions unit to Platform Specialty Products(NR). Click here for the Chemtura press release.
AIG(PBR41) approves new $1.5 billion stock repurchase program. Click here for the AIG press release.
Centrus Energy(PBR1030), fka USEC, receives NYSE notice saying it is now in compliance for being listed. Click here for the CE press release.
Arrow Electronics(PBR129) names Gregory Tarpinian SVP, General Counsel, & Secretary, succeeds Peter Brown who is retiring. Click here for the AE press release.
Church & Dwight(PBR646) adds COO title to CFO Matthew Farrell. Click here for the C&D press release.
Barnes Group(PBR1068) announces the retirement of Chairman Thomas Barnes, scheduled for 12/31/14. Click here for the Barnes Group press release.
The US Dept of Commerce reports preliminary September Construction Spending Annual Rate was $950.9 billion, -0.4% from August, +2.9% from September, 2013. Click here for the USDOC press release.
Saturday, November 1:
The PBR1000 October 2014 Breaking News Recap has been released. Click here for the blog post.
(The PBR1000 is the premiere comparative data and reporting service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate over $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to The PBR1000 subscribers. Users include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Order page.)
(Photo courtesy of freedigitalphotos.net, franky242.)
