As A Business Leader There Is A Lot To Think About.
By Larry C. Paxton
The PBR1000 in July 2015 had a lot of highlights in several areas.
Most of the mega deals involved the continuing consolidation of health related businesses. There were also some long awaited completion of deals like AT&T/DirecTV and Dollar Tree/Family Dollar.
More spinoffs occurred or were announced, with PayPal getting most of the press.
The US economy is still regarded as somewhat fragile but showing modest growth, enough to keep everyone guessing when the Federal Reserve will increase interest rates.
World issues had an affect as well. The stock markets displayed volatility based on the still unresolved Greece debt issues, the slowdown of the China economy and the dramatic downward dip in its markets towards the end of the month. Nevertheless, all US stock markets showed good increases over June with the NASDAQ hitting new highs. Other issues that didn’t seem to have a direct effect, but could have a longer range impact include the nuclear weapons negotiations with Iran, and the battles against extremist warring organizations like ISIL in the Middle East.
August has a history of volatility, let’s see if that’s true again in 2015.
Following are The PBR1000 and economic related news items of note for July 2015, starting with the last active day.
Friday, July 31:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,689.86, +0.69% from last Friday, +0.40% MTD/QTD, -.75% YTD.
NASDAQ closes week at 5,128.28, +0.78% from last Friday, +2.84% MTD/QTD, +8.28% YTD.
SPX closes week at 2,103.84, +1.16% from last Friday, +1.97% MTD/QTD, +2.18% YTD.
UPS(PBR47) to acquire truckload freight brokerage company Coyote Logistics for $1.8 billion. $UPS PR link.
Jarden(PBR324) completes $1.35 billion acquisition of disposable tableware manufacturer The Waddington Group from private equity firm Olympus Partners. $JAH PR link.
Berry Plastics(PBR488) to acquire specialty materials provider AVINTIV from Blackstone Group(PBR352) for $2.45 billion cash. $BERY PR link.
Yahoo!(PBR519) to acquire social shopping site Polyvore, terms not disclosed. $YHOO PR link.
Penn National Gaming(PBR750) to acquire Illinois 1,100 video gaming terminals operator Prairie State Gaming. $PENN PR link.
The US Dept of Labor says the 2nd Quarter Employment Cost Index decelerated sharply to 0.2% from the 1st Quarter. MarketWatch article link.
Thursday, July 30:
MasterCard(PBR291) extends partnership with Samsung to deliver Samsung Pay in Europe. $MA PR link.
Intl Flavors & Fragrances(PBR666) completes $311 million acquisition of Lucas Meyer Cosmetics. $IFF PR link.
Ventas(PBR671) to spinoff of most of its post-acute/skilled nursing facility portfolio as an independent publicly held REIT called Care Capital Properties, NYSE: CCP, after 08/17/15. $VTR PR link.
Kroger(PBR20) 1st female corporate executive Group VP for Corporate Affairs Lynn Marmer retiring in early 2016. $KR PR link.
Raytheon(PBR118) promotes Wesley Kremer as President, Integrated Defense Systems. $RTN PR link.
Diebold(PBR676) EVP/COO George Mayes, Jr, leaving, position to be eliminated in streamlining effort. $DBD PR link.
Avista Corp(PBR990) announces 3 changes to its officer team in finance, strategy, & development. $AVA PR link.
The US Dept of Commerce says that the 2nd Quarter Advance GDP estimate is at a 2.3%, $17.840 trillion, annual rate. USDOC PR link.
The US Dept of Labor says for the week ending 07/18/15 the Total Insured Unemployment was at 2.266,000, 4 week moving average at 2,255,250. USDOL PR link.
FreddieMac(PBR41) says on 07/30/15 30 Year Fixed Mortgage Rate averaged 3.98% with 0.6 points/fees. $FMCC PR link.
Wednesday, July 29:
Mylan(PBR346) receives unconditional clearance by European Commission for purchase of Perrigo(PBR565). $MYL PR link.
Apollo Education Group(PBR681) files notice disclosing an FTC civil investigation on business practices. MarketWatch article link.
Cytec(PBR887) to be merged into Brussels based global chemical company Solvay for $75.25/share, $5.5 billion. $CYT PR link.
Manitowoc(PBR579) hires Hubertus Muelhaeuser as CEO for the Manitowoc Foodservice unit. $MTW PR link.
Tuesday, July 28:
AIG(PBR46) acquires private First Principles Capital Management, names its CEO Douglas Dachille as AIG’s next EVP/Chief Investment Officer, succeeds William Dooley, who is retiring. $AIG PR link.
Caterpillar(PBR54) to do $1.5 billion accelerated stock repurchase program by end of 3rd quarter. $CAT PR link.
Caterpillar(PBR54) announces new strategy for its vocational truck product family, to expand production at its Victoria, TX, facility. $CAT PR link.
Honeywell Intl(PBR74) to acquire gas heating, controls, metering, and advanced technologies provider Elster Division from Melrose Industries plc for $5.1 billion. $HON PR link.
SuperValu(PBR164) considering spinoff of its Save-A-Lot unit into a stand-alone publicly traded company. $SVU PR link.
Proctor & Gamble(PBR33) promotes David Taylor as President/CEO, effective 11/01/15, succeeds AG Lafley who becomes Executive Chairman. $PG PR link.
Citrix(PBR658) President/CEO Mark Templeton to retire when successor appointed, search firm retained. $CTXS PR link.
Scientific Games(PBR937) hires David Smail as EVP/Chief Legal Officer, effective 08/03/15. $SGMS PR link.
The US Dept of Commerce says the 2nd Quarter Homeownership Rate was 63.4%, -1.3% from 2nd quarter 2014, -0.4% from 1st quarter 2015. USDOC PR link.
Monday, July 27:
Allergan(PBR219) selling its global generics business to Teva Pharmaceutical($TEVA) for $40.5 billion cash/stock. $AGN PR link.
Allergan(PBR219) to acquire depression therapies developer Naurex for $560 million cash. $AGN PR link.
Mylan(PBR346) comments on Israel based Teva Pharmaceuticals acquisition of generics business of Allergan(PBR219) & unsolicited offer withdrawal for Mylan. $MYL PR link.
McGraw Hill(PBR477) to acquire data, analytics, & research firm SNL Financial for $2.225 billion cash. $MHFI PR link.
Arch Coal(PBR691) postpones 1:10 reverse stock split from 07/27/15 close to 08/03/15 close. $ACI PR link.
Beacon Roofing(PBR818) to acquire roofing products distributor Roofing Supply Group for $1.1 billion cash/stock. $BECN PR link.
SandRidge Energy(PBR975) receives NYSE notice of potential delisting because share price less than $1.00 for 30 days, considering reverse stock split. $SD PR link.
Darden Restaurants(PBR398) announces Todd Burrowes is rejoining LongHorn Steakhouse unit as President, reports to CEO. $DRI PR link.
Friday, July 24:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,568.53, -2.86% from last Friday, -0.29% MTD/QTD, -1.43% YTD.
NASDAQ closes week at 5,088.83, -2.33% from last Friday, +2.04% MTD/QTD, +7.45% YTD.
SPX closes week at 2,079.65, -2.21% from last Friday, +0.80% MTD/QTD, +1.01% YTD.
AT&T(PBR12) completes $67 billion acquisition of DirecTV(PBR89), now the largest pay TV provider in the US & world. $T PR link.
Anthem(PBR38) to acquire Cigna(PBR85) for $188/share, $54.2 billion, creates company with 53 million medical members, $115 billion revenues/year. $ANTM PR link.
Enterprise Products(PBR59) completes sale of its offshore Gulf of Mexico assets to Genesis Energy(PBR553) for $1.5 billion cash. $EPD PR link.
Cisco(PBR60) to stop selling flash memory data-storage business known as Invicta. MarketWatch article link.
Johnson Controls(PBR68) plans to spinoff $22 billion in 2014 revenues Automotive Experience business as an independent publicly traded company within 12 months. $JCI PR link.
American Airlines(PBR69) ups shares repurchase program to $4 billion. $AAL PR link.
Charles River Labs(PBR1025) completes acquisition of rapid bacterial detection equipment provider Celsis International for $212 million cash. $CRL PR link.
Public Service Enterprise(PBR257) EVP/CFO Caroline Dorsa to retire in 4th quarter, search firm retained for new CFO. $PEG PR link.
The US Dept of HUD says June New Single-Family Houses Sales were at a 482,000 annual rate, -6.8% from May, +18.1% over June 2014. HUD PR link.
Thursday, July 23:
Cisco(PBR60) to sell its set-top box business unit to France based Technicolor for $604 million. $CSCO PR link.
Alcoa(PBR115) completes acquisition of titanium & specialty metal products manufacturer RTI(NYSE: RTI) in $1.5 billion stock deal. $AA PR link.
Starbucks(PBR178) adds 50 million shares for repurchase to existing 11 million available. $SBUX PR link.
EnerSys(PBR776) completes acquisition of Australia based equipment facilities manufacturer ICS Industries. $ENS PR link.
DuPont(PBR82) promotes Marc Doyle to SVP-Safety/Protections unit upon resignation of Matthew Trerotola. $DD PR link.
Crown Holdings(PBR298) CEO John Conway retiring effective 01/01/16, Timothy Dunne elected to succeed him as President/CEO. $CCK PR link.
Celanese(PBR369) Interim CFO Chris Jensen officially named CFO. $CE PR link.
Colfax Corp(PBR517) hires Matt Trerotola as CEO, effective 07/24/15, succeeds retiring Steve Simms. $CFX PR link.
Yahoo!(PBR519) promotes Lisa Utzschneider to Chief Revenue Officer. $YHOO PR link.
CA Technologies(PBR550) hires Ayman Sayed as Chief Product Officer, reports to CEO Mike Gregoire. $CA PR link.
Graham Holdings(PBR615) Kaplan unit CEO Tom Leppert resigning effective 08/21/15, Chairman Andy Rosen to add CEO responsibilities. $GHC PR link.
Wednesday, July 22:
Home Depot(PBR32) to acquire national distributor/direct marketer of maintenance, repair & operational products Interline Brands for $1.625 billion cash. $HD PR link.
Genworth Financial(PBR287) in negotiations to sell its lifestyle protection insurance business to France based AXA SA for $510 million. $GNW PR link.
Discovery Communications(PBR399) to acquire full ownership of Europe/Asia sports channels group Eurosport from TFI Group for $535 million per 2012 agreement. $DISCA PR link.
St Jude Medical(PBR440) to acquire medical devices for heart failure developer Thoratec for $63.50/share, $3.4 billion cash. $STJ PR link.
Bank of America(PBR24) CFO Bruce Thompson stepping down, Paul Donofrio to become CFO on 08/01/15; other key management changes announced. $BAC PR link.
The National Assn of Realtors reports June Existing Home Sales at a 5.49 million annual rate, $236,400 median price. NAR PR link.
Tuesday, July 21:
KKR(PBR332) to acquire an 80% stake in $1 billion total enterprise valued photovoltaic developer/operator Gestamp Solar from Gestamp Renewables. $KKR PR link.
Lexmark(PBR601) to eliminate 500 positions worldwide as part of restructuring program. $LXK PR link.
CIT Group(PBR608) gets federal & states regulatory approval for $3.4 billion acquisition of OneWest Bank, expected to close 08/03/15. $CIT PR link.
Henry Schein(PBR270) promotes Peter McCarthy to President, Global Animal Health Group. $HSIC PR link.
Corning(PBR281) Vice Chairman/CFO Jim Flaws to retire on 11/30/15. $GLW PR link.
Corning(PBR281) elects Lawrence McRae as Vice Chairman & Corporate Development Officer, Tony Tripeny as SVP/CFO effective 09/01/15, & Dr. Jeffrey Evenson SVP/Chief Strategy Officer. $GLW PR link.
Royal Caribbean(PBR329) hires Jim Berra as Chief Marketing Officer, reports to President/CEO Michael Bayley. $RCL PR link.
HARMAN Intl(PBR456) promotes Phillip Eyler as EVP & President, Infotainment division, reports to Chairman/President/CEO Dinesh Paliwal. $HAR PR link.
Iron Mountain(PBR663) hires Deirdre Evens as Chief People Officer, reports to President/CEO William Meaney. $IRM PR link.
Bon-Ton Stores(PBR707) hires Bill Tracy as COO, effective 07/27/15. $BONT PR link.
AMC Entertainment(PBR728) President/CEO Gerry Lopez leaving, effective 08/06/15, CFO Craig Ramsey to become Interim President/CEO at that time. $AMC PR link.
Elizabeth Arden(PBR1043) hires JuE Wong as President, Elizabeth Arden Brand, effective 08/03/15. $RDEN PR link.
Monday, July 20:
United Technologies(PBR45) to do 75 million shares repurchase program, $8.3 billion, with sale of Sikorsky Aircraft unit to Lockheed Martin(PBR64) for $9 billion. $UTX PR link.
Lockheed Martin(PBR64) to acquire Sikorsky Aircraft unit from United Technologies(PBR45) for $9 billion. $LMT PR link.
Ross Stores(PBR253) to open 19 Ross Dress for Less and 8 dd’s Discount stores in July as part of plan for 90 new stores in 2015. $ROST PR link.
Caesars Entertainment(PBR314) reaches agreement on debt restructuring with a group of 2nd lien holders, makes changes to 01/14/15 Restructuring Support Agreement. $CZR PR link.
Calpine Corp(PBR330) to expand in Texas & NE US with acquisition of retail electric provider Champion Energy Marketing for $240 million. $CPN PR link.
CF Industries(PBR502) confirms it is in preliminary discussions with OCI NV regarding a potential combination involving certain of OCI’s businesses. $CF PR link.
Arch Coal(PBR691) announces 1:10 reverse stock split after 07/27/15 market close, will maintain listing status on NYSE. $ACI PR link.
SunEdison(PBR782) to acquire Vivint Solar(NYSE: VSLR) for $16.50/share, $2.2 billion in cash/stock/notes, to close in 4th quarter 2015. $SUNE PR link.
Synopsis(PBR879) completes acquisition of the Seeker security product and its R&D team from Quotium(NYSE Euronext: QTE).
$SNPS PR link.
eBay(PBR163) spinoff PayPal(NASDAQ: PYPL) in first day of public trading opens at $41.46, range $39.80-$42.55, closes at $40.47. MarketWatch PayPal stock info.
Adobe Systems(PBR557) hires Abhay Parasnis as Chief Technology Officer & SVP/platform technology and services. $ADBE PR link.
HealthSouth(PBR800) EVP/General Counsel & Secretary John Whittington retiring on 12/31/15. $HLS PR link.
Friday, July 17:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,086.54, +1.84% from last Friday, +2.65% MTD/QTD, +1.48% YTD.
NASDAQ closes week at 5,210.14(R), +4.25% from last Friday, +4.48% MTD/QTD, +10.01% YTD.
SPX closes week at 2,126.64, +2.41% from last Friday, +3.08% MTD/QTD, +3.29% YTD.
GameStop(PBR287) completes acquisition of ThinkGeek retailer parent Geeknet(NASDAQ: GKNT) for $20/share, $140 million. $GME PR link.
Yahoo!(PBR500) files with SEC to spinoff remaining holdings in Alibaba Group into an independent, publicly traded, registered investment company, as announced on 01/27/15, to close in 4th quarter. $YHOO PR link.
The US Dept of Labor says June Employee Average Earnings were $24.95/hour, 34.5 hours/week, $860.78/week, +2.0% from June 2014. USDOL PR link.
The US Dept of Labor says the June Consumer Price Index for All Items was +0.3% over May, +0.1% over the last 12 months. USDOL PR link.
The US Dept of HUD says the June Private Housing Units Building Permits were at a 1,343,000 annual rate, +7.4% over May, +30.0% over June 2014 HUD PR link.
Thursday, July 16:
Amazon’s(PBR37) first Prime Day sales exceed Black Friday 2014 by 18%, 34.4 million items sold. $AMZN PR link.
Enterprise Products(PBR56) to sell its offshore Gulf of Mexico assets to Genesis Energy(PBR553) for $1.5 billion cash. $EPD PR link.
Mondelez(PBR85) completes acquisition of 80% stake in Vietnam’s leading snacks business Kinh Do for $370 million. $MDLZ PR link.
Hertz(PBR249) completes restatements of annual reports, to separate its equipment rental business, implementing cost reduction program. $HTZ PR link.
McGraw Hill(PBR477) Platts division acquires shipping & oil industries news & analysis provider Petromedia. $MHFI PR link.
Groupon(PBR750) acquires OrderUp to power nationwide food ordering & delivery. $GRPN PR link.
Dollar Tree(PBR329) promotes Mike Witynski to COO. $DLTR PR link.
Fifth Third Bancorp(PBR345) hires Lars Anderson to be EVP/COO on 08/03/15. $FITB PR link.
Hershey Co(PBR347) hires Peter Horst as new Chief Marketing Officer, effective 07/27/15. Mike Wege now SVP/Chief Admin Officer. $HSY PR link.
Domino’s Pizza(PBR927) promotes Jeff Lawrence to EVP/CFO, succeeds Mike Lawton who is retiring at the end of August. $DPZ PR link.
Wednesday, July 15:
Amazon(PBR37) Studios announces Spike Lee’s Chi-Raq as first ever Amazon original movie. $AMZN PR link.
Nike(PBR98) gets $169 million apparel deal from 08/01/16 through 2027 with University of Michigan, MarketWatch article link.
Kinder Morgan(PBR198) to purchase 100% of Shell’s equity interest in the Elba LNG Liquefaction joint venture for $630 million. $KMI PR link.
Corning(PBR332) authorizes $2 billion shares repurchase program, expires 12/31/16. $GLW PR link.
Molina Healthcare(PBR375) to enter Chicago market with acquisition of Medicaid assets of 61,000 member MyCare Chicago. $MOH PR link.
Anixter(PBR398) to acquire the distributor Power Solutions segment of HD Supply for $825 million. $AXE PR link.
Netflix(PBR534) grows by 3.3 million subscribers in 2nd Quarter, now has over 65 million subscribers worldwide. $NFLX PR link.
Walter Energy(PBR920) reaches restructuring agreement with senior lendors, files for Chapter 11 bankruptcy. $WLTG PR link.
Gannett(PBR458) hires Kevin Gentzel as its first Chief Revenue Officer. $GCI PR link.
Juniper Networks(PBR501) hires Susan Lovegren as SVP/Human Resources, Bob Worrall as SVP/CIO. $JNPR PR link.
The US Dept of Labor says the June Producer Price Index for final demand was +0.4% over May, -0.7% for 12 months ended in June. USDOL PR link.
The US Federal Reserve Board in its G17 report says June Industrial Production was +0.3%, +1.5% over June 2014; Capacity Utilization was at 78.4% USFRB PR link.
The US Federal Reserve Board releases its latest Beige Book, overall districts are generally optimistic. USFRB PR link.
Tuesday, July 14:
Danaher(PBR139) completes $2.6 billion deal that combines its Communications unit with a subsidiary of NetScout Systems(NASDAQ: NTCT). $DHR PR link.
Molina Healthcare(PBR375) to acquire Medicaid assets of 25,000 member S. Florida firm Preferred Medical Plan. $MOH PR link.
Celgene(PBR381) to acquire immune/metabolics therapeutics developer Receptos(NASDAQ: RCPT) for $232/share, $7.2 billion. $CELG PR link.
Barnes & Noble(PBR388) approves publicly held Barnes & Noble Education spinoff, scheduled for 08/02/15, to start trading on 08/03/15 with symbol NYSE: BNED. $BKS PR link.
IAC(PBR669) soon to be spinoff The Match Group to acquire fellow dating site PlentyOfFish for $575 million. $IACI PR link.
WPX Energy(PBR713) to acquire privately held Permian Basin assets based RKI Exploration for $2.35 billion. $WPX PR link.
Guess?(PBR751) Co-Founder/CEO Paul Marciano announces that Victor Herroro to be new CEO in August. $GES PR link.
The US Dept of Commerce in advance report says June Retail & Food Sales were at $442.0 billion, -0.3% from May, +1.4% from June 2014. USDOC PR link.
Monday, July 13:
Valero Energy(PBR10) adds $2.5 billion to its available $400 million for stock repurchases. $VLO PR link.
Comcast(PBR44) to roll out $15/month TV streaming service across the US by the end of 2016, starting in Boston. $CMCSA PR link.
Medtronic(PBR161) to acquire detection/prevention of retained surgical items device company RF Surgical Systems for $235 million. $MDT PR link.
Computer Sciences(PBR209) files Form 10 for government services spinoff Computer Sciences GS, separation planned for October. $CSC PR link.
BorgWarner(PBR339) to acquire rotating electrical components producer Remy International for $29.50/share, $1.2 billion, to close in 4th quarter. $BWA PR link.
Jarden(PBR341) to acquire disposable tableware manufacturer The Waddington Group from private equity firm Olympus Partners for $1.35 billion. $JAH PR link.
PG&E(PBR175) announces promotion of several senior officers as part of restructuring program. $PCG PR link.
Jacobs Engineering(PBR213) hires Steven Demetriou as President/CEO, effective 08/17/15, to succeed retiring Craig Martin. $JEC PR link.
Dana Holding(PBR367) hires Jim Kamsickas as President/CEO, effective 08/11/15, succeeds retiring Roger Wood. $DAN PR link.
Xylem(PBR581) appoints Shashank Patel as Interim CFO upon resignation of Mike Speetzen, effective 07/30/15. $XYL PR link.
The US Dept of the Treasury says the June Surplus was $51.8B on Receipts of $342.9B. YTD Deficit is $313.4B. Treasury PR link.
Friday, July 10:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,760.41, +0.17% from last Thursday, +0.80% MTD/QTD, -0.35% YTD.
NASDAQ closes week at 4,997.70, -0.23% from last Thursday, +0.22% MTD/QTD, +5.52% YTD.
SPX closes week at 2,076.62, -0.01% from last Thursday, +0.65% MTD/QTD, +0.86% YTD.
Halliburton(PBR94) $34.6 billion acquisition of Baker Hughes(PBR124) deadline extended to 12/01/15 for time to satisfy US Dept of Justice requirements. $BHI PR link.
Edwards Lifesciences(PBR879) to acquire CardiAQ Valve Technologies for up to $400 million. $EW PR link.
Biogen(PBR358) R&D leader Doug Williams, PhD, leaving to become CEO of a startup, new R&D co-leaders announced. $BIIB PR link.
Tesla(PBR887) hires Ganesh Srivats to be in charge of North American Sales. $TSLA PR link.
The US Dept of Commerce says that May Merchant Wholesalers Sales were $449.8 billion, +0.3% from April, -3.8% from May 2014. USDOC PR link.
Thursday, July 9:
T-Mobile US(PBR115) adds 2.1 million customers in 2nd quarter, up 41% over previous year. $TMUS PR link.
eBay(PBR170) trying to sell e-commerce Enterprise unit, losing Toys R Us as a major client who plans to do its own e-commerce. MarketWatch article link.
Avon(PBR267) sells its UK based natural skincare line Liz Earle to Walgreens Boots Alliance(PBR36) for $215 million cash. $AVP PR link.
Coty(PBR524) to merge Proctor & Gamble’s(PBR32) Beauty Business into Coty in deal valued at $12.5 billion. $COTY PR link.
Charles River Labs(PBR1058) to acquire rapid bacterial detection equipment provider Celsis International for $212 million cash. $CRL PR link.
Walgreens Boots Alliance(PBR36) Interim CEO Stefano Pessina named CEO. $WBA PR link.
Conn’s(PBR1052) hires Thomas Moran as CFO, effective 07/27/15. $CONN PR link.
Wednesday, July 8:
The PBR1000 June 2015 Stocks/Commodities Snapshots summary is posted. Blog post.
Microsoft(PBR30) restructuring phone hardware business, to reduce staff by up to 7,800. $MSFT PR link.
Enterprise Products(PBR56) completes purchase of all Eagle Ford Shale member interests of EFS Midstream for $2.15 billion. $EPD PR link.
Ingredion(PBR371) to acquire privately held natural fruits and vegetables concentrates producer Kerr Concentrates for $100 million. $INGR PR link.
CA Technologies(PBR520) completes $480 million acquisition of Agile software development & services provider Rally Software(NYSE: RALY). $CA PR link.
Curtiss-Wright(PBR771) expands stock repurchase program to $300 million. $CW PR link.
Walter Energy(PBR920) gets delisting notice from NYSE because of stock price non-compliance. $WLT PR link.
Micron Technology(PBR166) hires Trevor Schulze as Chief Information Officer. $MU PR link.
Fifth Third Bancorp(PBR345) President/COO Greg Carmichael to become President/CEO on 11/01/15, will succeed retiring Kevin Kabat. $FITB PR link.
Darden Restaurants(PBR393) hires Jeff Davis as SVP/CFO, effective 07/16/15, reports to CEO Gene Lee. $DRI PR link.
Sprouts Farmers Market(PBR789) hires Shawn Gensch as Chief Marketing Officer, Dan Sanders as EVP of store operations. $SFM PR link.
Acxiom(PBR1073) hires Jeremy Allen as President of $445 million Marketing Services Division. $ACXM PR link.
The US Federal Reserve says May Consumer Credit increased at 5.75% annual rate, Revolving Credit 2%, Nonrevolving Credit 7%. FRB PR link.
The US Federal Reserve in its Federal Open Market Committee minutes of its 06/16-17/15 meeting says that economic activity is expanding moderately after little 1st quarter change. FRB PR link.
Tuesday, July 7:
Cisco(PBR58) to acquire private cloud based service renewals firm MaintenanceNet for $139 million. $CSCO PR link.
Carnival Corp(PBR176) gets US approval for travel to Cuba, expects to start in May, 2016. $CCL PR link.
Allergan(PBR297) gets exclusive worldwide rights licensing agreement for Merck(PBR63) CGRP migraine development program for $250 million plus incentives. $MRK PR link.
Frontier Communications(PBR497) hires Kathleen Weslock as EVP/Chief People Officer, effective 07/13/15, reports to President/CEO Daniel McCarthy. $FTR PR link.
Xylem(PBR581) hires Kairus Tarapore as SVP/Chief Human Resources Officer, effective 07/27/15, reports to President/CEO Patrick Decker. $XYL PR link.
The US Dept of Labor says May Job Openings were at 5.4 million, hires at 5.0 million, separations at 4.7 million. USDOL PR link.
The US Dept of Commerce says May International Trade deficit was -$41.9 billion on exports of $188.6 billion, imports of $230.5 billion. USDOC PR link.
Monday, July 6:
Cardinal Health(PBR27) completes acquisition of generics/OTC medications distributor The Harvard Drug Group for $1.115 billion. $CAH PR link.
Dollar Tree(PBR329) completes $9.2 billion cash/stock acquisition of discount retailer Family Dollar(PBR252). $DLTR PR link.
Advance Auto Parts(PBR382) to replace recently acquired Family Dollar on the S&P500 on 07/08/15. $AAP PR link.
LINN Energy(PBR810) sells remaining Permian Basin Wolfcamp acreage for $281 million. $LINE PR link.
SunEdison(PBR888) and spinoff TerraForm Power to acquire 930 megawatt contracted wind portfolio from Invenergy for $2 billion. $SUNE PR link.
JPMorgan Chase(PBR20) Stacey Friedman to succeed Steve Cutler next year as General Counsel; Cutler to be appointed Vice Chairman. $JPM PR link.
Axiall(PBR503) EVP Timothy Mann appointed Interim President/CEO upon immediate retirement of Paul Carrico, new CEO search starts. $AXLL PR link.
Friday, July 3:
US Stock Markets Closed
in Observance of Independence Day.
Give Thanks & Celebrate
Our History and Freedoms.
Humana(PBR71) to be acquired by Aetna(PBR57) for $230/share, $37 billion cash/stock. $HUM PR link.
Thursday, July 2:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,730.11, -1.21% from last Friday, +0.63% MTD/QTD, -0.52% YTD.
NASDAQ closes week at 5,009.21, -1.40% from last Friday, +0.45% MTD/QTD, +5.77% YTD.
SPX closes week at 2,076.78, -1.18% from last Friday, +0.66% MTD/QTD, +0.87% YTD.
Kraft Foods(PBR145) & HJ Heinz complete merger, new company is Kraft Heinz Co, to start trading as NASDAQ: KHC on 07/06/15. $KRFT PR link.
Centene(PBR244) to acquire health care plans provider Health Net(PBR239) for $6.8 billion cash/stock, to close in early 2016. $CNC PR link.
Biogen(PBR358) & AGTC(NASDAQ: AGTC) enter collaboration to develop gene therapies in ophthalmology, Biogen payments could exceed $1 billion. $BIIB PR link.
Barnes & Noble(PBR388) names Ron Boire CEO of Retail, effective 09/08/15; spinoff of College unit planned for August. $BKS PR link.
Freescale Semiconductor(PBR548) & Netherlands based NXP Semiconductor(NASDAQ: NXPI) stockholders approve $11.8 billion merger, to close 2nd half 2015. $FSL PR link.
Aeropostale(PBR868) continues aggressive expansion in Asia with new licensing agreements in India & Indonesia. $ARO PR link.
SunEdison(PBR888) & Gamesa(BME: GAM) form joint venture to develop 1 gigawatt of wind power plants by 2018. $SUNE PR link.
Intel(PBR52) President Renee James leaving, other executive leadership changes announced. $INTC PR link.
The US Dept of Labor says Total June Nonfarm Employment rose by 223,000, compared with an average monthly gain of 250,000 over the prior 12 months. June Unemployment Rate drops 0.2% to 5.3%. USDOL PR link.
The US Dept of Commerce says May New Manufactured Goods Orders were down $4.5 billion, -1.0%, to $470.5 billion, down 9 of last 10 months. USDOC PR link.
Wednesday, July 1:
General Electric(PBR9) $3.3 billion sale of Appliances unit dened by US Dept of Justice; Swedish based Electrolux to fight decision. Electrolux PR link.
Hewlett-Packard(PBR19) Enterprise files Form 10 to become a separate publicly traded company, planned for November. $HPQ PR link.
INTL FCStone(PBR64) merges 3 US subsidiaries into INTL FCStone Financial Inc. $INTL PR link.
DuPont(PBR83) completes spinoff of its Performance Chemicals unit as The Chemours Company, trading as NYSE: CC. $DD PR link.
Hess Corp(PBR114) completes $2.675 billion sale of Bakken midstream assets, establishes Bakken Midstream joint venture with Global Infrastructure Partners valued at $5.35 billion. $HES PR link.
eBay(PBR170) PayPal unit buying international money transfers/remittances processor Xoom(NASDAQ: XOOM) for $25/share, $890 million. $EBAY PR link.
Baxter Intl(PBR179) spinoff Baxalta starts 1st day as biopharmaceutical with base of $6 billion in annual sales. $BXLT PR link.
Chubb Corp(PBR200) to be acquired by Ace Ltd(NYSE: ACE) for $28.3 billion cash/stock, expects to close in 1st quarter 2016. $CB PR link.
MeadWestvaco(PBR439) & Rock-Tenn(PBR278) complete merger, name combined company WestRock(NYSE: WRK)(PBR278). $WRK PR link.
CF Industries(PBR438) to acquire remaining 50% in UK based nitrogen production company GrowHow from Yara Intl for $580 million. $CF PR link.
McGraw Hill(PBR477) JD Power division acquires NADA Used Car Guide. $MHFI PR link.
Constellation Brands(PBR483) to acquire Napa Valley wine brand Meiomi from Copper Cane for $315 million. $STZ PR link.
Energizer Holdings(PBR527) completes spinoff of Household Products division, changes name to Edgewell Personal Care Company, now trading as NYSE: EPC. $EPC PR link.
Energizer Holdings(PBR527) completes spinoff as a public company from parent Edgewell Personal Care Co. $ENR PR link.
Apollo Global Mgmt(PBR531) acquires 2 million clients business/home security firm Protection 1 & also ASG Security. $APO PR link.
Patterson Cos(PBR563) to sell its medical business to Madison Dearborn Ptnrs for $715 million cash. $PDCO PR link.
Graham Holdings(PBR610) completes spin-off of separate publicly traded company Cable ONE(NYSE: CABO). $GHC PR link.
American Tower(PBR625) closes acquisition of 4,700 communication sites in Nigeria from Bharti Airtel. $AMT PR link.
Caesars Entertainment(PBR301) announces Mark Frissora has assumed role of President/CEO. $CZR PR link.
Peabody Energy(PBR355) promotes Amy Schwetz to EVP/CFO, upon resignation of Michael Crews. $BTU PR link.
Men’s Wearhouse(PBR781) hires Bruce Thorn as COO, reports to CEO Doug Ewert. $MW PR link.
The US Dept of Commerce reports that May Construction Spending was at a $1,035.8 billion annual rate, +0.8% from April, +8.2% from May 2014. USDOC PR link.
The PBR1000 June 2015 Breaking News Recap is posted on the BLOG page. You can also click here.
(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, Sujin Jetkasettakorn.)
