The Week 23 of 2021 US Stock Market and News Recap

The Week 23 of 2021 US Stock Market and News Recap

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It was a relatively non-volatile Week 23, The Stock Market Bull prevails with a 2-1 mixed win.

By Larry C. Paxton

US Stock Market Indices Summary

Week 23 of 2021 Ending 06/11/21
DJIA NASDAQ S&P500
Previous Year Close(12/31/20) 30,606.48 12,888.28 3,756.07
Previous Quarter Close(03/31/21 32,981.55 13,246.87 3,972.89
Previous Month Close(05/28/21) 34,529.45 13,748.74 4,204.11
Record Close Date 05/07/21 04/26/21 06/11/21
Record Close 34,777.76 14,138.78 4,247.44
Week 22 34,756.39 13,814.49 4,229.89
Week 23 34,479.60 14,069.42 4,247.44
Percent Change-Week -0.80% 1.85% 0.41%
Percent Change-Month -0.14% 2.33% 1.03%
Percent Change-Quarter 4.54% 6.21% 6.91%
Percent Change-YTD 12.65% 9.16% 13.08%
Percent Change-Record -0.86% -0.49% 0.00%

The Stock Market Bull and Bear Tallies YTD

Week 23 Winner and Tally  Bull 2-1 Mixed Win
May Winner and Tally Bull 2-1 Mixed Win
Weeks Months YTD
The Stock Market Bull 10 3 Ahead
The Stock Market Bear 7 0
Mixed Result 6 2
  Totals 23 5

The US Stock Market Week 23 Summary:

This week The Stock Market Bear successfully attacked the DJIA taking the first 3 of 5 days. However, his energies opened up the NASDAQ for The Stock Market Bull who took 4 out of 5 days. But the highlight was The Stock Market Bull taking the S&P500 to new record high closes on Thursday and Friday. Bottomline: The Stock Market Bull gets a 2-1 mixed win in a non-volatile Week 23.

Week 23 News Summary:

Coronavirus Pandemic: As of today, Friday, 06/11/21, at 1:23PM Eastern US, the John Hopkins University CSSE unit says there are now 175,010,665 confirmed cases globally with 3,776,333 deaths, +71,133 from last week, which is -119,146 from the prior week. For the US it is 33,434,366 confirmed cases and 599,083 deaths, +2,173 from last week, which is -892 from the prior week. In the US vaccines are plentiful, available free through governmental programs and sponsored sites as well as at most drugstores. There is concern that the US goal of 70% of eligible people be at least partially vaccinated by July 4th might not be met. US Vice President Kamala Harris is making visits in the South this week to encourage people to get vaccinated. The US now seems to have a surplus of the vaccines and is pushing to get doses to poorer countries.

US Federal Government:

  • Wednesday, June 9, 2021: US President starts his 8 day trip to Europe for a variety of meetings and discussions.
  • Tuesday, June 8, 2021:
  • It was announced that the infrastructure development plan discussions between President Biden and Republican Senator Cappito has stopped as progress has not been made on some key points, will be talking to some other bipartisan groups as well.

US Economy: 

  • Friday, June 11, 2021:
  • The Preliminary June 2021 University of Michigan Consumer Sentiment Index is at 86.4, May 2021 was at 82.9, April 88.3, June 2020 78.1. “Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment. Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June.”

 

  • Thursday, June 10, 2021:
  • The US Dept of Labor says the June 5, 2021, Weekly Initial Jobless Claims were at 376,000, May 29 was at 385,000, May 22 405,000, 1st week in June 2020 1,537,000.
  • The US Dept of the Treasury says the May 2021 US Federal Government Receipts are at $463.745 billion, Outlays $595.698 billion, for a May 2021 Deficit of $131.953 billion, April 2021 Deficit was at $225,580, March 2021 Deficit $659.603 billion, May 2020 Deficit $398.753 billion, the May 2021 US Federal Government Deficit YTD(8 months) is at $2.064 trillion, May 2020 Deficit YTD was at $1.880 trillion.
  • The US Dept of Labor says the May 2021 US Monthly Consumer Price Index is at +0.6%, Last 12 Months is at +5.0%, April 2021 was at +4.2%, March 2021 +2.6%, May 2020 -0.1%.
  • The US Dept of Labor says the Preliminary May 2021 Current Average Earnings Per Hour is at $30.33, Average Hours Worked Per Week is at 34.9, for Average Earnings Per Week at $1,058.52, April 2021 was at $1,053.28, March 2021 $1,045.95, May 2020 $1,031.98.
  • The US Federal Reserve says the Preliminary 1Q21 US Networth of Households/Non-Profits is at $136.917 trillion, 4Q20 was at $131.920 trillion, 3Q20 $123.897 trillion, 1Q20 $111.355 trillion.
  • FreddieMac says that on June 10, 2021 the US Average Weekly 30 Year Fixed Mortgage Rate is at 2.96% with 0.7 points & fees. 

 

  • Wednesday, June 9, 2021:
  • The US Dept of Commerce/Census says the Preliminary April 2021 US Wholesale Sales-Durables is at $276.2 billion, Non-Durables $294.5 billion, for April 2021 US Total Wholesale Sales of $570.7 billion, March 2021 was at $566.0 billion, February 2021 $542.7 billion, April 2020 $397.5 billion.

 

  • Tuesday, June 8, 2021:
  • The US Dept of Labor says the Preliminary April 2021 US Job Openings-Private are at 8,374,000, Government 913,000, for April 2021 Total US Job Openings at 9,287,000, March 2021 was at 8,289,000, April 2020 4,630,000.
  • The US Dept of Commerce/Census says the Preliminary April 2021 US Exports-Goods is at $145.3 billion, Services $59.7 billion, for April 2021 US Total Exports of $205.0 billion; April 2021 US Imports-Goods is at $232.0 billion, Services $41.9 billion, for April 2021 US Total Imports of $273.9 billion; April 2021 US Deficit is at $68.9 billion, April 2020 was at $53.0 billion; April 2021 US Deficit YTD(4 months) is at $281.7 billion, April 2020 was at $187.3 billion.
  • CoreLogic says March 2021 US Housing Mortgages 30 Days or More Delinquent is at 4.9%, February 2021 was at 5.7%, January 2021 5.6%, March 2020 3.6%.

 

  • Monday, June 7, 2021:
  • The US Federal Reserve reports that Preliminary April 2021 Consumer Revolving Credit Annual Rate is at $963.6 billion, Non-Revolving Credit $3,273.9 billion, for Total Consumer Credit of $4,237.5 billion, March 2021 was at $4,218.9 billion, February $4,200.3 billion, April 2020 $4,130.3 billion.
  • The Fannie Mae Home Purchase Sentiment Index® (HPSI) remained relatively flat in May, increasing by 1.0 points to 80.0.

Corporate News: 

  • Friday, June 11, 2021:
  • Philip Morris(PBR40 $PM) authorizes up to $7 billion share repurchase program over next 3 years.
  • Kraft Heinz(PBR104) to purchase Istanbul, Turkey based sauces focused business Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at approximately $100 million, to close in 2H21.
  • KKR(PBR580 $KKR) launches AV AirFinance Limited, a global commercial aviation loan servicer, seeds with purchase of an $800 million portfolio acquired from CIT Group(PBR934 $CIT).

 

  • Thursday, June 10, 2021:
  • Occidental Petroleum(PBR184 $OXY) to sell non-strategic 25,000 acres in the Permian Basin to an affiliate of Colgate Energy Partners III, LLC, for $508 million, to close in 3Q21.
  • Avantor(PBR423 $AVTR) completes around $1.95 billion cash acquisition of Schwabmünchen, Germany based privately held robotic and liquid handling consumables manufacturer Ritter GmbH.

 

  • Wednesday, June 9, 2021:
  • Merck(PBR65 $MRK) gets $1.2 billion order for 1.7 million doses of molnupiravir, used for the treatment of non-hospitalized patients with laboratory-confirmed COVID-19 and at least one risk factor associated with poor disease outcomes, currently in Phase 3 testing, order dependent on US FDA Approval or Emergency Use Authorization.
  • Pfizer(PBR74 $PFE) and BioNTech SE(NASDAQ: $BNTX) get an order from US federal government for 500 million doses of COVID-19 vaccine to donate to poorer countries.
  • SPX(PBR939 $SPXC) to sell its wholly-owned subsidiary, SPX Transformer Solutions, to GE-Prolec Transformers, a subsidiary of a joint venture between GE (PBR37 $GE) and Xignux SA de CV for $645 million cash.
  • GameStop(PBR506 $GME) hires Matt Furlong as CEO, effective 06/21/21.

 

  • Tuesday, June 8, 2021:
  • Ford(PBR20) introduces 40 MPG, standard hybrid, 5 seater, under $20,000, 2022 Ford Maverick Truck.
  • Pfizer(PBR74 $PFE) gets US FDA approval for PREVNAR 20™ (Pneumococcal 20-valent Conjugate Vaccine) for the prevention of invasive disease and pneumonia caused by the 20 Streptococcus pneumoniae (pneumococcus) serotypes in the vaccine in adults ages 18 years and older.
  • Lithia Motors(PBR225 $LAD) acquires BMW of Sherman Oaks, CA, and Acura of Sherman Oaks, CA, expected to add $185 million in annual revenues.
  • US Steel(PBR300 $X) to sell its railroads operations Transtar to an affiliate of Fortress Transportation and Infrastructure Investors LLC (NYSE: $FTAI) for $640 million, to close in 3Q21.
  • CMS Energy(PBR415 $CMS) to sell its wholly-owned subsidiary, EnerBank USA, to Regions Bank, a subsidiary of Regions Financial(PBR419 $RF) for $960 million cash, to close in 4Q21.
  • Worthington Industries(PBR697 $WOR) has acquired certain assets of Shiloh Industries’ US BlankLight® business, a leading provider of laser welded solutions, for $105 million, generated $170.5 million in revenues in 2020.

 

  • Monday, June 7, 2021:
  • Kroger(PBR17 $KR) announces its Family of Companies’ first nationwide hybrid hiring event, including virtual and in-store interviews, will take place on Thursday, June 10, goal is to hire 10,000 associates supporting retail, e-commerce, pharmacy, manufacturing, and logistics operations.
  • Kraft Heinz(PBR104 $KHC) has completed the sale of its nuts business to Hormel Foods(PBR306 $HRL) for $3.35 billion cash.
  • Nucor(PBR143 $NUE) to acquire Cornerstone Buildings Brands’ insulated metal panels business for $1 billion cash.
  • Biogen(PBR221 $BIIB) gets US FDA approval for its ADUHELM™ as the first and only Alzheimer’s disease treatment to address a defining pathology of the disease.
  • Blackstone(PBR441 $BX) to acquire QTS Realty Trust (NYSE: $QTS) for $10 billion.
  • Vulcan Materials(PBR523 $VMC) to acquire US Concrete(NASDAQ: $USCR), a leading supplier of aggregates and ready-mixed concrete, for $74.00/share, $1.294 billion, to close in 2H21.
  • CoStar Group(PBR928 $CSGP) to do a 10:1 stock split after close of business on Friday, 06/25/21.
  • EOG Resources(PBR275 $EOG) Chairman/CEO William R. “Bill” Thomas will retire as CEO and assume the role of Non-Executive Chairman of the Board on 10/01/21, President Ezra Y. Yacob to become CEO, COO Lloyd W. “Billy” Helms, Jr to add President role.
  • Scholastic(PBR952 $SCHL) longtime Chairman/CEO Richard Robinson dies unexpectedly at 84. Board to meet to determine succession plan options.
  • Norwegian Cruise Lines(PBR977 $NCLH) CEO Frank Del Rio is interviewed by Goldman Sachs regarding its response to the COVID-19 pandemic.

Society: June is Pride Month with several events scheduled for the LGBTQ+Pride community.

International News: US Vice President Kamala Harris completed her visits to Guatemala and Mexico regarding immigration and other issues of the region. US President Biden is attending the G-7 meeting in Europe, his first visit outside the US, where topics will range from minimum corporate taxes, climate change, cybersecurity issues, and will include a meeting with Russia President Vladimir Putin.

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The Week 20 of 2021 US Stock Market and News Recap

The Week 20 of 2021 US Stock Market and News Recap

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The Stock Market Bull wins only one day on the NASDAQ, but it was big enough, The Stock Market Bear has to settle for a mixed 2-1 result in Week 20.

By Larry C. Paxton

US Stock Market Indices Summary

Week 20  of 2021 Ending 05/21/21
DJIA NASDAQ S&P500
Previous Year Close(12/31/20) 30,606.48 12,888.28 3,756.07
Previous Quarter Close(03/31/21 32,981.55 13,246.87 3,972.89
Previous Month Close(04/30/21) 33,874.85 13,962.68 4,181.17
Record Close Date 05/07/21 04/26/21 05/07/21
Record Close 34,777.76 14,138.78 4,232.60
Week 19 34,382.13 13,429.98 4,173.85
Week 20 34,207.84 13,470.99 4,155.86
Percent Change-Week -0.51% 0.31% -0.43%
Percent Change-Month 0.98% -3.52% -0.61%
Percent Change-Quarter 3.72% 1.69% 4.61%
Percent Change-YTD 11.77% 4.52% 10.64%
Percent Change-Record -1.64% -4.72% -1.81%

The Stock Market Bull and Bear Tallies YTD

Week 20 Winner and Tally  Bear 2-1 Mixed Win
April Winner and Tally Bull 3-0 Win
Weeks Months YTD
The Stock Market Bull 8 3 Ahead
The Stock Market Bear 7 0
Mixed Result 5 1
  Totals 20 4

US Stock Exchanges Week 20 Summary:

Week 20 was almost a duplicate of Week 19. The Stock Market Bear came out strong again on the first 3 days. But The Stock Market Bull decided to show up at the pasture and took Thursday in a big way, especially the NASDAQ. Friday was a split with The Stock Market Bull taking only the DJIA. The Thursday win by a large margin on Thursday by The Stock Market Bull spoils The Stock Market Bear‘s effort to ace 2 weeks in a row. Week 20 was a lot less volatile than Week 19 and The Stock Market Bear has to settle for a 2-1 mixed result. Week 21 will be the last week for May and unless something dramatic happens, May will probably end with a mixed result as well.

Week 20 News Summary:

Coronavirus Pandemic: As of today, Friday, 05/21/21, at 2:21PM Eastern US, the John Hopkins University CSSE unit says there are now 165,713,514 confirmed cases globally with 3,434,193 deaths, +85,241 from last week, which is -2,728 from the prior week. For the US it is 33,079,478 confirmed cases and 589,135 deaths, +4,062 from last week, which is -207 from the prior week. Vaccines are readily available, there is really no excuse to not get vaccinated unless your personal beliefs are against such vaccinations. The CDC’s lowering recommendations for using masks has caused some confusion. India and Brazil cases and deaths rise again in the week.

US Federal Government: US President Joe Biden’s administration has lowered the proposed infrastructure development plan from $1.9 trillion to $1.7 trillion in an effort to get enough Republicans to accept the plan.

US Economy: The Federal Open Market Committee released the minutes of its late April meeting. Inflation, short term interest rates adjustments, and bond buying programs generated a lot more discussion than in previous sessions. The Federal Reserve also indicated that it will be making some comments about digital currencies in the next few months. Weekly initial jobless claims took another downward dip to 444,000, the lowest since the start of the pandemic, but above the around 250,000 before the pandemic. The housing starts annual rate indicated a disappointing drop, but permits issued were up. The National Association of Home Builders/Wells Fargo Housing Market Index held steady in spite of increased costs for lumber and other materials. FreddieMac said the average 30 year fixed mortgage rate rose slightly to 3.0% with 0.6 points and fees. The Federal Reserve Bank of Philadelphia manufacturing survey was lower, but still well into positive territory, a similar result for the Federal Reserve Bank of New York. The Conference Board leading economic index took a nice +1.6% jump in April. The National Association of Realtors said April existing home sales fell 2.7% from March to a 5.85 million annual rate.

Corporate Business: It is the tail end of 1Q21 corporate earnings reports and they were generally mixed. Share buyback programs are being reinstituted by several companies. IPOs continue to be popular and some were launched during the week. Ford debuts its all electric F-150 truck and announces a joint venture for 2 batteries factories. Mergers and acquisitions seemed to make a jump in the week as well, especially among tech companies.

Society: It was another quiet week, with much of the news still being on COVID-19 vaccination efforts and cautious optimism as the economy continues to reopen.

International News: A ceasefire was agreed to between Israel and Hamas, but details were still being worked out. As mentioned earlier, India, Brazil and some other countries continue to see a rise in COVID-19 cases.

More Resources:

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PBRMarketTools.com provides The PBR1000, a compilation of 1,000 of the largest publicly held companies with primary operations in the US. These companies generate $15 trillion in annual revenues, more than all other US companies combined. The PBR1000 Monthly Snapshots provides these 1,000 companies in Excel format, includes 15 worksheets with 28 rankings, over 200 data/information points, hotlinks to key data, and important news items per company.

Empowering Astute Business Leaders and Shrewd Investors
Through The PBR1000 Analytics!

Disclaimers: The research PBRMarketTools.com provides is compiled from a variety of publicly available resources. As such, PBRMarketTools.com is not responsible for the data itself. Any liability for the representations or decisions based on the data is solely the responsibility of the authorized user, not PBRMarketTools.com, its employees or affiliates. PBRMarketTools.com is an independent business intelligence service providing news, data, and analysis. We provide information only and it should not be regarded as advice. PBRMarketTools.com is not a financial advisory or stock brokerage firm and has no affiliation with such organizations.

This business intelligence report is provided by: 

(Article image is courtesy of FreeDigitalPhotos.net, ddpavumba.)

Copyright © 2021 by Pax Business Resources, LLC, All Rights Reserved.

The PBR1000 April 2021 Breaking News Recap

The PBR1000 for April: Workers Needed to Re-Open

PBR1000 News Jobs Economy Investing

As businesses re-open from the COVID-19 Pandemic they will be scrambling to welcome workers back.

The April 2021 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, April 30

US Stock Indices Summary

Week 17 and April of 2021 Ending 04/30/21
DJIA NASDAQ S&P500
Previous Year Close(12/31/20) 30,606.48 12,888.28 3,756.07
Previous Quarter Close(03/31/21 32,981.55 13,246.87 3,972.89
Previous Month Close(03/31/21) 32,981.55 13,246.87 3,972.89
Record Close Date 04/16/21 04/26/21 4/29/21
Record Close 34,200.67 14,138.78 4,211.47
Week 16 Close 34,043.49 14,016.81 4,180.17
Week 17 & April Close 33,874.85 13,962.68 4,181.17
Percent Change-Week -0.50% -0.39% 0.02%
Percent Change-Month 2.71% 5.40% 5.24%
Percent Change-Quarter 2.71% 5.40% 5.24%
Percent Change-YTD 10.68% 8.34% 11.32%
Percent Change-Record -0.95% -1.25% -0.72%

The Stock Market Bull and Bear Tallies YTD

Week 17 Winner and Tally  Bear 2-1 Mixed Win
April Winner and Tally Bull 3-0 Win
Weeks Months YTD
The Stock Market Bull 8 3 Ahead
The Stock Market Bear 6 0
Mixed Result 3 1
  Totals 17 4

US Stock Exchanges Week 17 Summary:

The Stock Market Bull started out a promising Week 17 on Monday by establishing new record highs for the NASDAQ and S&P500. The Stock Market Bear returned on Tuesday to take a nibble out of those marks and then Wednesday took out a good-sized chunk. This infuriated The Stock Market Bull who trampled the Bear on Thursday, established another new record for the S&P500 and appeared to have a lock to win the week. But The Stock Market Bear roared back on Friday, wiped out all the Bull‘s gains for the week except for the S&P500 where he fell shy just 1.01 points. In a back and forth week The Stock Market Bear prevails with a 2-1 mixed result for Week 17, but The Stock Market Bull easily captures the month of April with a 3-0 result. 

Week 17 News Summary:

Coronavirus Pandemic: As of today, Friday, 04/30/21, at 1:21PM Eastern US, the John Hopkins University CSSE unit says there are now 150,817,249 confirmed cases globally with 3,171,285 deaths, +88,510 from last week. For the US it is 32,333,463 confirmed cases and 575,815 deaths, +4,636 from last week. Vaccination rates in the US continue to grow and the rate of new cases and deaths is starting to drop. India has been hit hard with rates increasing dramatically and is asking for help across the globe.

US Federal Government: The event of the week was on Wednesday evening when US President Joe Biden addressed the nation regarding the progress of his administration after 100 days in office. He stressed progress on the COVID-19 pandemic, promoted his around $4 trillion in spending for infrastructure and other projects and how they would be paid for, discussed national security, talked about racial justice and encouraged Americans to be united while celebrating diversity at the same time.

US Economy: Housing prices increased around 12% over the past year, mortgage rates remain at near record lows, but available housing inventories remain low. Initial weekly jobless claims were at 553,000, continuing the downward trend. The Federal Open Market Committee met and voted to keep federal short term interest rates at 0.00-0.25%, and continue its assets purchase programs of $120 billion/month. The 1Q21 Gross Domestic Product annual rate was up at +6.4%. The Personal Income annual rate is nearly 30% more than last year. Consumer spending and outlooks were also up for the week, based on an optimistic post-pandemic view.

Corporate Business: 1Q21 corporate earnings reports were generally positive with guidance being cautiously optimistic about the COVID-19 pandemic coming to an end sometime in the summer.

Society: Every day there seems to be a mass shooting somewhere. Citizens and politicians continue to struggle with how to stop this trend without infringing on 2nd Amendment rights.

International News: India, Brazil and some other countries see a rise in COVID-19 cases.

Daily Economic News:

The US Dept of the Treasury says the 04/27/21 US National Debt-Public is at $21.943 trillion, Intragovernmental $6.169 trillion, making 04/27/21 US Total National Debt at $28.112 trillion, 03/31/21 was at $28.081 trillion, 02/28/21 $28.005 trillion, 04/30/20 $24.975 trillion. PR link.

The US Dept of Commerce/BEA says the Preliminary March 2021 US Personal Income Annual Rate is at $24.208 trillion, February 2021 was at $19.995 trillion, January 2021 $21.498 trillion, March 2020 $18.764 trillion. PR link.

The US Dept of Labor says the 1Q21 US Employee Cost Index for All Civilian Workers(12/2005=100) is at 143.7, 4Q20 was at 142.4, 3Q20 141.1, 1Q20 140.0. PR link.

The U of Michigan Final April 2021 Consumer Sentiment Index is at 88.3, March 2021 was at 84.9, February 2021 76.8, April 2020 71.8. “… Overall, the data indicate an exceptional outlook for consumer spending through mid-2022. The size and persistence of the spending gains depend on continued job growth as well as wages that effectively draw people back into the labor force.” PR link.

The US Federal Reserve Bank of Chicago says the Preliminary March 2021 US 7th District Midwest Economy Index is at +0.65, February 2021 was at +0.50, January 2021 +0.65, March 2020 -0.68. “Index points to a pickup in Midwest growth through March.” PR link.

MNI Indicators/ISM-Chicago says the Preliminary April 2021 Chicago Business Barometer Index(>50 is gaining> is at +72.1, March 2021 was at +66.4, February 2021 +59.5, April 2020 +35.4. PR link.

The American Automobile Assn says the 04/30/21 US Average Price/Gallon of Regular Gas is at $2.895, 03/31/21 was at $2.874, 02/26/21 $2.699, 04/30/20 $1.772. PR link.

***Thursday, April 29

Daily Economic News:

The US Dept of Commerce/BEA says the 1Q21 Advance Estimate of the Real Gross Domestic Product Annual Rate is at +6.4%, $22.049 trillion, 4Q20 was at +4.3%, $21.495 trillion, 3Q20 +33.4%, $21.170 trillion, 1Q20 -5.0%, $21.561 trillion. PR link.

The US Dept of Labor says on 04/24/21 the US Weekly Initial Unemployment Insurance Claims is at 553,000, the 4 Week Moving Average is at 611,750; the 04/17/21 US Total Insured Unemployment is at 3,660,000, the 4 Week Moving Average is at 3,684,000; the 04/17/21 Insured Unemployment Rate is at 2.6%. PR link.

FreddieMac says on 04/29/21 the US Weekly Average 30 Year Fixed Mortgage Rate is at 2.98% with 0.7 fees/points, 03/25/21 was at 3.17%, 02/25/21 2.97%, 04/30/21 3.23%. “In light of the rising COVID caseloads globally, U.S. Treasury yields stopped moving up a month ago and have remained within a narrow range as the market digests incoming economic data. The good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020. But, for eager buyers, especially first-time homebuyers, inventory continues to be extremely tight and competition for available homes to purchase remains high.” PR link.

***Wednesday, April 28

Daily Economic News:

The US Federal Reserve Open Market Committee issues a statement from its 04/27-28/21 meeting, agrees to maintain short term interest rates at 0.00-0.25%, “will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month…,” says “The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened. The sectors most adversely affected by the pandemic remain weak but have shown improvement. Inflation has risen, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.” PR link.

The ADP Quarterly Workforce Vitality Report says the 1Q21 US Wage Growth is at +5.9%, +3.3% from 1Q20, Wage Level is at $30.84/hour, +$1.71 from 1Q20, Employment Growth is at -7.0%, -7.7% from 1Q20, and Turnover Rate is 82.2%, +14.9% from 1Q20. “The labor market recovery is gaining momentum. Progress in the fight against the COVID-19 pandemic is fueling economic improvement and the impact is evident as jobs gains pick up.” PR link.

The US Energy Information Administration says for the Week Ending 04/23/21 the US Crude Oil Stocks(Millions of Barrels) is at 493.1, on 03/26/21 it was at 501.8, 02/19/21 463.0, 04/24/20 527.6. PR link.

***Tuesday, April 27

Daily Economic News:

The Conference Board says the Preliminary April 2021 US Consumer Confidence Index(1985=100) is at 121.7, March 2021 was at 109.0, February 2021 90.4, April 2020 85.7. “Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2. Consumers’ optimism about the short-term outlook held steady this month. Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks. Short-term inflation expectations held steady in April, but remain elevated. Vacation intentions posted a healthy increase, likely boosted by the accelerating vaccine rollout and further loosening of pandemic restrictions.” PR link.

The US Dept of Commerce/HUD says the 1Q21 US Total Housing Units are at 141,533,000 with a Home Ownership Rate of 65.6%, 4Q20 was at 141,241,000 and 65.8%, 3Q20 140,949,000 and 67.4%, 1Q20 140,365,000 and 65.3%. PR link.

S&P CoreLogic Case-Shiller says the Preliminary February 2021 US National Home Price Index(01/2000=100) is at 238.82, January 2021 was at 236.33, December 2020 234.32, February 2020 213.29. “These data remain consistent with the hypothesis that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a permanent shift in the demand curve for housing. Future data will be required to analyze this question.” PR link.

The US Federal Reserve Bank of Richmond says the April 2021 US 5th District Manufacturing Sector Surveys Index is at +17%, March 2021 was at +17%, February 2021 +14%, April 2020 -53%. “Survey responses indicated supply constraints, with the backlog of orders and vendor lead time indexes registering historic highs. Meanwhile, inventories shrank as the indexes for inventories of finished goods and raw materials reached their lowest values on record. Manufacturers were optimistic that conditions would continue to improve in the coming months.” PR link.

The US Federal Reserve Bank of Richmond says the April 2021 US 5th District Service Sector Surveys Revenue Index is at +22%, March 2021 was at +16%, February 2021 +6%, April 2020 -87%. “Firms … reported improving local business conditions and increased capital spending. Survey participants were optimistic that conditions would continue to improve in the next six months.” PR link.

TrueCar says the Forecast April 2021 US Unit New Auto Sales-Retail is at 1,259,036, Fleet is at 143,098, making April 2021 US Unit New Auto Sales at 1,402,134, March 2021 was at 1,604,983, February 2021 1,196,008, April 2020 710,827; Forecast April 2021 US Unit New Auto Average Transaction Price is at $37,144, March 2021 was at $37,215, February 2021 $37,780, April 2020 $37,161. “April of last year was the first full month of COVID-19’s impact on the day-to-day lives of Americans and the economy, and saw vehicle sales plummet to the lowest point during the pandemic. Despite the inventory challenges that linger, seeing total and retail sales up nearly 100% in one year is a hopeful and exciting milestone for the auto industry and economy…” PR link.

***Monday, April 26

Daily Economic News:

No items to report.

***Friday, April 23

Weekly US Stock Indices News:

US Stock Market Indices Summary

Week 16 of 2021 Ending Friday, 04/23/21
DJIA NASDAQ S&P500
Previous Year Close(12/31/20) 30,606.48 12,888.28 3,756.07
Previous Quarter Close(03/31/21) 32,981.55 13,246.87 3,972.89
Previous Month Close(03/31/21) 32,981.55 13,246.87 3,972.89
Record Close Date 04/16/21 02/12/21 04/16/21
Record Close 34,200.67 14,095.47 4,185.47
Week 15 Close 34,200.67 14,052.34 4,185.47
Week 16 Close 34,043.49 14,016.81 4,180.17
Percent Change-Week -0.46% -0.25% -0.13%
Percent Change-Month 3.22% 5.81% 5.22%
Percent Change-Quarter 3.22% 5.81% 5.22%
Percent Change-YTD 11.23% 8.76% 11.29%
Percent Change-Record -0.46% -0.56% -0.13%
The Stock Market Bull vs The Stock Market Bear Tallies YTD
Week 16 Winner and Tally Bear 3-0
Weeks Months YTD
The Stock Market Bull 8 2 Ahead
The Stock Market Bear 5 0
Mixed Result 3 1
  Totals 16 3

US Stock Exchanges Week 16 Summary:

The Stock Market Bull has been on a winning streak since Week 12. The Stock Market Bear had had enough and angrily started out Week 16 by making some good sized gashes on all 3 major US indices on Monday and Tuesday. The Stock Market Bull made a determined response by taking Wednesday. But The Stock Market Bear returned with a vengeance on Thursday. The Stock Market Bull charged back on Friday, achieved some new intraday record highs for the DJIA and S&P500, but as the day came to a close he became weary and lost some ground. He won the day, but was unable to overcome The Stock Market Bear‘s lead for the week. Week 16 goes to The Stock Market Bear 3-0, his first clear win since Week 11.

Week 16 News Summary:

Coronavirus Pandemic: As of today, Friday, 04/23/21, at 6:20PM Eastern US, the John Hopkins University CSSE unit says there are now 145,261,836 confirmed cases globally with 3,082,775 deaths. For the US it is 31,990,519 confirmed cases and 574,179 deaths. Vaccinations are occurring at the rate of around 3 million doses per day. Today the pause on the Johnson & Johnson’s vaccine was lifted. States continue to open up more. There are continuing concerns about variants, which have affected other countries, but so far have not had a major impact in the US. Vaccination programs continue to expand. US Federal Government: President Biden continues to push for an infrastructure plan and is meeting with lawmakers from both sides of the aisle to try to come up with a plan that can pass. During a meeting on climate change that included several nations President Biden pledged to lower US greenhouse gases by 50% by 2030. President Biden also proposed a nearly 40% capital gains tax on households with more than $1 million in annual incomes. US Economy: The annual existing home sales rate fell 3.7% in March to 6.01 million and reached new highs for the median home price. New family home sales increased nearly 21% in March to a 1.02 million annual rate. 30 year fixed mortgage rates dropped to just below 3% again. US initial jobless claims fell to 547,000, a new post-pandemic low. Business and consumer surveys continue to show optimism over the next few months. Corporate Business: 1Q20 corporate earnings reports continue to be mixed, but guidance is cautiously optimistic, assuming the COVID-19 pandemic comes to an end sometime in the summer. Society: Former Minneapolis police officer Derek Chauvin was found guilty on all counts for the killing of George Floyd by kneeling on his neck for around 9 minutes. International News: . There were surges in COVID-19 infections globally.

Daily Economic News:

The US Dept of Commerce/HUD says the Preliminary March 2021 US New Family Homes Sold Annual Rate is at 1,021,000 units, February 2021 was at 846,000, January 2021 1,010,000, March 2020 612,000; the March 2021 Median New Home Price is at $330,800, February 2021 was at $345,900, January 2021 $362,200, March 2020 $328,200. PR link.

***Thursday, April 22

Daily Economic News:

The US Federal Reserve Bank of Chicago says the Preliminary March 2021 US Current National Activity Index is at +1.71, February 2021 was at -1.20, January 2021 +1.10, March 2020 -4.47. “Index suggests economic growth rebounded in March.” PR link.

The Conference Board says the Preliminary March 2021 US Leading Economic Index(2016=100) is at 111.6, February 2021 was at 110.3, January 2021 110.2, December 2020 109.7. “The improvement in the U.S. LEI, with all ten components contributing positively, suggests economic momentum is increasing in the near term. The widespread gains among the leading indicators are supported by an accelerating vaccination campaign, gradual lifting of mobility restrictions, as well as current and expected fiscal stimulus…” PR link.

The Natl Assn of Realtors says the Preliminary March 2021 US Existing Home Sales Annual Rate is at 6,010,000 units, February 2021 was at 6,240,000, January 2021 6,660,000, March 2020 5,350,000; March 2021 Median Sales Price is at $329,100, February 2021 was at $313,000, January 2021 $303,900, March 2020 $280,700. PR link.

***Wednesday, April 21

Daily Economic News:

No items to report.

***Tuesday, April 20

Daily Economic News:

The US Federal Reserve Bank of Philadelphia says the April 2021 US 3rd District Nonmanufacturing Current General Activity Index is at +36.3, March 2021 was at +27.4, February 2021 +5.2, April 2020 -96.4. “The respondents continued to anticipate growth over the next six months.” PR link.

***Monday, April 19

Daily Economic News:

No items to report.

***Friday, April 16

The US Stock Exchanges Recap for Week 15 of 2021 ending Friday, 04/16/21:

DJIA ends Week 15 at record 34,200.67, +1.18% from last Friday, +3.70% MTD/QTD, +11.74% YTD, +0.00% from record 34,200.67 set 04/16/21.

NASDAQ ends Week 15 at 14,052.34, +1.09% from last Friday, +6.08% MTD/QTD, +9.03% YTD, -0.31% from record 14,095.47 set 02/12/21.

SPX ends Week 15 at record 4,185.47, +1.37% from last Friday, +5.35% MTD/QTD, +11.43% YTD, +0.00% from record 4,185.47 set 04/16/21.

US Stock Exchanges Week 15 of 2021 News Summary:

The Stock Market Bear wanted to set the tone for Week 15 so came out Monday with a lot of loud angry growling. The intimidation worked as he took all 3 major US indices. But The Stock Market Bull struck back on Tuesday with an excellent day on the NASDAQ and taking the S&P500. The Stock Market Bear countered on Wednesday by wiping out those gains. With great determination The Stock Market Bull bounced back on Thursday and Fridays with consecutive record days on the DJIA and S&P500 and near a new record for the NASDAQ. The Stock Market Bull‘s strong end of Week 15 gives him a 3-0 victory, his 3rd week in a row, a nice lead year-to-date, and a lot of optimism in the stock market as the US economy continues to strengthen.

The Week 15 of 2021 tally YTD is:

 

  • The Stock Market Bull: 8 weeks
  • The Stock Market Bear: 4 weeks
  • Mixed Results: 3 weeks

 

Daily Economic News:

The US Dept of Commerce/HUD says the Preliminary March 2021 US New Residential Building Permits Annual Rate is at 1,766,000 units, February 2021 was at 1,720,000, January 2021 1,886,000, March 2020 1,356,000. PR link.

The U of Michigan Preliminary April 2021 US Consumer Sentiment Index is at 86.5, March 2021 was at 84.9, February 2021 76.8, April 2020 71.8. “Consumers in early April reported surging economic growth and strong job gains due to record stimulus spending, low interest rates, and the positive impact of vaccinations.” PR link.

***Thursday, April 15

Daily Economic News:

The US Federal Reserve says the Preliminary March 2021 US Industrial Production Capacity is at 74.4%, February 2021 was at 73.4%, January 2021 75.3%, March 2020 73.6%. PR link.

The US Dept of Commerce/Census says the Preliminary February 2021 US Sales-Manufacturers are at $502.4 billion, Retailers $508.9 billion, Wholesalers $538.3 billion, making February 2021 Total US Sales at $1,549.6 billion, January 2021 was at $1,579.2 billion, December 2020 $1,498.0 billion, February 2020 $1,466.6 billion. PR link.

The US Dept of Commerce/Census says the Advance March 2021 US Retail Sales-Retailers is at $557.7 billion, Food Services & Drinking Places is at $62.2 billion, making Advance March 2021 US Total Retail Sales at $619.9 billion, February 2021 was at $563.7 billion, January 2021 $579.6 billion, March 2020 $484.7 billion. PR link.

The US Federal Reserve Bank of New York says the April 2021 Empire State Manufacturing General Business Conditions Index is at +26.3, March 2021 was at +17.4, February 2021 +12.1, April 2020 -78.2. PR link.

The US Federal Reserve Bank of Philadelphia says the April 2021 US 3rd District Manufacturing General Activity Indicator is at +50.2, March 2021 was at +44.5, February 2021 +23.1, April 2020 -46.8. “The survey’s future indexes indicate that firms remain optimistic about growth over the next six months.” PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary April 2021 Housing Market Composite Index is at +83, March 2021 was at +82, February 2021 +84, April 2020 +30. “Strong buyer demand pushed builder confidence up in April even as builders continued to grapple with rising lumber prices and supply chain issues and consumers faced higher home prices due to a lack inventory.” PR link.

***Wednesday, April 14

Daily Economic News:

The US Federal Reserve releases the Beige Book for data through 04/05/21, says “National economic activity accelerated to a moderate pace from late February to early April… Outlooks were more optimistic than in the previous report, boosted in part by an acceleration in COVID-19 vaccinations.” PR link.

The US Dept of Labor says the Preliminary March 2021 US Import Price Index is at +1.2%, February 2021 was at +1.3%, January 2021 +1.4%, March 2020 -2.4%, Last 12 Months +6.9%; the Preliminary March 2021 US Export Price Index is at +2.1%, February 2021 was at +1.6%, January 2021 +2.6%, March 2020 -1.4%, Last 12 Months +9.1%PR link.

***Tuesday, April 13

Daily Economic News:

The US Dept of Labor says the Preliminary March 2021 US Current Average Earnings/Hour is at $29.96, Average Hours Worked/Week is at 34.9 making Average Weekly Earnings Per Hour at $1,045.60, February was at $1,038.00, January 2021 $1,047.20, March 2020 $980.03. PR link.

The US Dept of Labor says the March 2021 US Consumer Price Index-Urban is at +0.6%, February 2021 was at +0.4%, January 2021 +0.3%, March 2020 -0.4%, the March 2021 Last 12 Months is at +2.6%, February 2021 was at +1.7%, January 2021 +1.4%, March 2020 +1.5%. PR link.

CoreLogic says the January 2021 US Housing Mortgages 30 Days or More Delinquent is at 5.6%, December 2020 was at 5.8%, November 2020 5.9%, January 2020 3.5%. “While delinquency rates are higher than we would like to see, they continue to decline. At the same time, foreclosure rates remain at historic lows. This is a good sign, and considering the improving picture regarding the pandemic and climbing employment rates, we are looking at the potential for a strong year of recovery.” PR link.

***Monday, April 12

The PBR1000 March 2021 Top 5 Stocks Snapshots is an overview of stocks performance, 5 tables of Top 5 stock performers, and a stocks & commodities indices summary. PR link.

Daily Corporate News:

Microsoft(PBR15 $MSFT) to acquire cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience Nuance Communications(NASDAQ: NUAN) for $56.00 per share, implying a 23% premium to the closing price of Nuance on Friday, 04/09/21, or around $19.7 billion cash, inclusive of Nuance’s net debt, to close by 12/31/21. PR link.

IBM(PBR40 $IBM) says Kyndryl will be the name of the new, independent company that will be created following the separation of its Managed Infrastructure Services business, will be headquartered in New York, NY, will have 4,600 global customers, to close by the end of 2021. PR link.

Ameriprise Financial(PBR246 $AMP) to acquire BMO Financial Group’s EMEA asset management business for approximately $845 million cash, adds $124 billion of AUM in Europe, to close in 4Q21. PR link.

PSEG(PBR309 $PEG) completes acquisition of 25% ownership interest from Orsted N America in 1,100 megawatt Ocean Wind project, New Jersey’s first offshore wind farm, could provide power by end of 2024. PR link.

Avantor(PBR423 $AVTR) to acquire Schwabmünchen, Germany based privately held robotic and liquid handling consumables manufacturer Ritter GmbH for around $1.05 billion cash, to close in 3Q21. PR link.

Ingersoll-Rand(PBR809 $IR) to sell its Specialty Vehicle Technologies Segment (“Club Car”) to global private equity firm Platinum Equity for $1.68 billion cash, to close in 3Q21. PR link.

Daily Economic News:

The US Dept of the Treasury says the March 2021 US Federal Government Receipts are at $267.6 billion, Outlays $927.2 billion, making the March 2021 US Federal Deficit at $659.6 billion, February 2021 Deficit was at $310.9 billion, January 2021 Deficit $162.8 billion, March 2020 Deficit $119.0 billion; the March 2021 US Federal Deficit YTD(6 months) is at $1,706.2 billion, March 2020 Federal Deficit YTD was at $743.5 billion. PR link.

***Friday, April 9

The US Stock Exchanges Recap for Week 14 of 2021 ending Thursday, 04/09/21:

DJIA ends Week 14 at record 33,800.60, +2.20% from last Friday, +2.48% MTD/QTD, +10.44% YTD, +0.00% from record 33,800.60 set 04/09/21.

NASDAQ ends Week 14 at 13,900.19, +5.80% from last Friday, +4.93% MTD/QTD, +7.85% YTD, -1.39% from record 14,095.47 set 02/12/21.

SPX ends Week 13 at record 4,128.80, +3.88% from last Friday, +3.92% MTD/QTD, +9.92% YTD, +0.00% from record 4,128.80 set 04/09/21.

US Stock Exchanges Week 14 of 2021 News Summary:

Week 14 opened with a long 3 day well rested The Stock Market Bull confidently charging into the pasture and achieving new record highs on the DJIA and S&P500, and an excellent assault on the NASDAQ. The overwhelmed The Stock Market Bear showed up on Tuesday, took all 3 indices by thin margins. The Stock Market Bull then dominated the rest of the Week 14, easily gets his second week in a row 3-0 victory and strengthens his lead Year-To-Date. The reasons are pretty clear. The economy is showing a strong desire to grow, COVID-19 vaccinations are being administered at a quick rate, many states and business sectors are re-opening, the stimulus programs are being implemented, a new infrastructure program is being introduced, there seems to be an increasing trust in the Federal Reserve and the US Dept of the Treasury to be helpful, and there is less rancor and contentiousness in the federal government with the new administration. The question for Week 15 is to see if The Stock Market Bull has the momentum to get his first third week in a row win of 2021!

The Week 14 of 2021 tally YTD is:

 

  • The Stock Market Bull: 7 weeks
  • The Stock Market Bear: 4 weeks
  • Mixed Results: 3 weeks

 

Daily Corporate News:

Johnson Controls(PBR126) to acquire Edmonton, Alberta, Canada based 3,000 employees Silent-Aire, a family owned global leader in hyperscale data center cooling and modular critical infrastructure solutions with expected revenues of $650 million in 12 months ending in 05/21, for up to $870 million cash, including an upfront payment of approximately $630 million and additional payments for milestone achievements, to close by 06/30/21. PR link.

BJ’s Wholesale(PBR229 $BJ) President/CEO Lee Delaney has passed away unexpectedly due to presumed natural causes, EVP/Chief Admin Officer/CFO Bob Eddy named Interim CEO, Chairman Christopher J. Baldwin appointed Executive Chairman, both effective immediately. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary March 2021 US Producer Price Index is at +1.0%, February 2021 was at +0.5%, January 2021 +1.3%, March 2020 -0.5%; March 2021 Producer Price Index-Last 12 Months is at +4.2%, February 2021 was at +2.8%, January 2021 +1.7%, March 2020 +0.3%. PR link.

The US Dept of Commerce/Census says the Preliminary February 2021 US Wholesale Sales-Durables is at $259.4 billion, Non-Durables $278.9 billion, making February 2021 US Wholesale Sales-Total at $682.5 billion, January 2021 was at $678.2 billion, December 2020 $653.2 billion, February 2020 $669.0 billion. PR link.

***Thursday, April 8

Daily Corporate News:

CommScope(PBR345 $COMM) to spin off its Home Networks business as an independent public company, to be completed by end of 1Q22. PR link.

KKR(PBR576 $KKR) to make a $500 million investment in cloud content management platform provider Box(NYSE: BOX), to close in 05/21. PR link.

Hologic(PBR607 $HOLX) to acquire $42 million in revenues in 2020 Mobidiag Oy, a privately held, commercial-stage Finnish-French developer of innovative molecular diagnostic tests and instrumentation, for an enterprise value of approximately $795 million, includes a cash payment of approximately $714 million for Mobidiag’s equity, and net debt of approximately $81 million, to close by 09/30/21. PR link.

GameStop(PBR422 $GME) nominates 6 candidates to be elected at annual meeting on 06/09/21, includes Chewy founder Ryan Cohen who is expected to be elected Chairman by the Board following the annual meeting. PR link.

Daily Economic News:

No items today.

***Wednesday, April 7

Daily Corporate News:

Target(PBR36 $TGT) commits to spend more than $2 billion with Black-owned businesses by the end of 2025. PR link.

MetLife(PBR47 $MET) completes $3.94 billion cash sale of its Metropolitan Property and Casualty Insurance Company and certain wholly owned subsidiaries to Farmers Group, Inc. (FGI), a subsidiary of Zurich Insurance Group, includes 10-year strategic partnership through which Farmers Insurance® will offer products on MetLife’s leading US Group Benefits platform. PR link.

XPO Logistics(PBR186 $XPO) is recruiting for more than 1,400 positions across N America to meet growing demand for its less-than-truckload (LTL) services, as the economy rebounds from COVID-19. PR link.

AMD(PBR301 $AMD) $143/share, around $35 billion, acquisition of FPGA and Adaptive SoCs innovator and developer Xilinx(PBR686 $XLNX) gets approval by shareholders of both companies, to close by 12/31/21. PR link.

Daily Economic News:

The US Federal Reserve says the Preliminary February 2021 US Consumer Credit Outstanding-Revolving is at $974.4 billion, Non-Revolving $3,231.4 billion, making February 2021 US Consumer Credit Outstanding-Total at $4,205.8 billion, January 2021 was at $4,178.2 billion, December 2020 $4,178.1 billion, February 2020 $4.208.9 billion. PR link.

The US Federal Open Market Committee releases its Minutes from the 03/16-17/21 meeting. “The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.” PR link.

The US Dept of Commerce/Census says the February 2021 US Exports-Goods is at $131.1 billion, Services $56.1, making February 2021 US Exports-Total at $187.2 billionFebruary 2021 US Imports-Goods is at $219.1 billion, Services $39.2 billion, making February 2021 US Imports-Total at $258.3 billion, making February 2021 Deficit at $71.1 billion, January 2021 Deficit was at $67.8 billion, December 2021 Deficit $67.0 billion; February 2021 YTD Deficit(2 months) is at $138.9 billion, February 2020 YTD Deficit was at $82.4 billion. PR link.

FannieMae says the March 2021 Home Purchase Sentiment Index is at 81.7, February 2021 was at 76.5, January 2021 77.7, March 2020 80.8. “The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, a third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year, since 2020’s spring homebuying season was limited by virus-related lockdowns…” PR link.

***Tuesday, April 6

Daily Corporate News:

General Motors(PBR19 $GM): First-Ever Chevrolet Silverado Electric Pickup and GMC HUMMER EV SUV to be Built at GM’s Factory ZERO Plant.

Genworth Financial(PBR335 $GNW) has exercised its right to terminate its merger agreement with China Oceanwide Holdings Group Co., Ltd. as of 04/06/21, will pursue revised strategic plan.

Signet Jewelers(PBR440 $SIG) has acquired Rocksbox, an innovative jewelry rental subscription platform, giving it a significant foothold in a growing online service that speaks to next-generation jewelry customers, terms not disclosed.

Brink’s(PBR612 $BCO) has acquired PAI, Inc., the largest privately-held provider of ATM services in the US, for $213 million, expected to generate $320 million in annual revenues.

Greenbrier(PBR764 $GBX) has completed the formation of GBX Leasing, a special purpose subsidiary, to own and manage a portfolio of leased railcars primarily built by Greenbrier; GBX Leasing will acquire approximately $200 million per annum of newly-built and leased railcars from Greenbrier.

Daily Economic News:

The US Dept of Labor says the Preliminary February 2021 US Job Openings-Private is at 6,732,000, Government 635,000, making February 2021 US Job Openings-Total at 7,367,000, January 2021 was at 7,099,000, December 2020 6,753,000, February 2020 7,012,000. PR link.

The PurdueU/CME Group March 2021 US Ag Economy Barometer Composite Index is at 177, February 2021 was at 165, January 2021 167, March 2020 121. “The barometer’s rise was virtually all attributable to farmer’s improved expectations for the future… The improvement in future expectations occurred even though producers are becoming increasingly pessimistic that the trade dispute with China will be resolved in a way that’s beneficial to U.S. agriculture.” PR link.

***Monday, April 5

Daily Corporate News:

Alphabet(PBR9)’s Google: Supreme Court Rules for Google in Long Copyright Fight With Oracle(PBR77). MarketWatch news link.

Sempra Energy(PBR267) to sell a non-controlling, 20% interest in Sempra Energy’s new business platform, Sempra Infrastructure Partners, to KKR(PBR576) for $3.37 billion in cash, to close in mid 2021.

Icahn Enterprises(PBR409) moving its headquarters to Florida, President/CEO Keith Cozza decides to not move, is stepping down from roles and as a director, IEP hiring Aris Kekedjian, the former Chief Investment Officer of General Electric Company (GE), as President/CEO, will also become member of the Board. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary February 2021 US New Orders-Durables is at $254.1 billion, Non-Durables $251.6 billion, making February 2021 US Total New Orders at $505.7 billion, January 2021 was at $509.7 billion, December 2020 $496.3 billion, February 2020 $496.5 billion. PR link.

The Institute for Supply Management says the March 2021 Services PMI Index(>50 economy growing) is at 63.7%, February 2021 was at 55.3%, January 2021 58.7%, March 2020 52.5%. “The Services PMI® registered an all-time high of 63.7 percent… The March reading indicates the 10th straight month of growth for the services sector, which has expanded for all but two of the last 134 months.” PR link.

IHS Markit says the March 2021 US Composite PMI Output Index is at 59.7, February 2021 was at 59.5, January 2021 58.7, March 2020 40.9. “The IHS Markit Composite PMI Output Index… signal(s) the fastest upturn in private sector business activity since August 2014. Although the expansion in manufacturing sector production eased, service providers registered a marked rise in output.” PR link.

***Friday, April 2

***Good Friday.
***US Stock Exchanges Closed.

Daily Corporate News:

Tesla(PBR94) produced just over 180,000 vehicles and delivered nearly 185,000 vehicles in 1Q21.

Daily Economic News:

The US Dept of Labor says the March 2021 Employed Labor Force is at 150,848,000, +609,000 from February 2021, -4,924,000 from March 2020; the March 2021 Unemployment Rate is at 6.0%, February 2021 was at 6.2%, March 2020 4.4%. “… improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction.” PR link.

***Thursday, April 1

The US Stock Exchanges Recap for Week 13 of 2021 ending Thursday, 04/01/21:

DJIA ends Week 13 at 33,153.21, +0.24% from last Friday, +0.52% MTD/QTD, +8.32% YTD, -0.05% from record 33,171.37 set 03/29/21.

NASDAQ ends Week 13 at 13,480.11, +2.60% from last Friday, +1.76% MTD/QTD, +4.59% YTD, -4.37% from record 14,095.47 set 02/12/21.

SPX ends Week 13 at record 4,019.87, +1.14% from last Friday, +1.18% MTD/QTD, +7.02% YTD, +0.00% from record 4,019.87 set 04/01/21.

US Stock Exchanges Week 13 of 2021 News Summary:

Week 13 featured the end of March, the end of the 1st Quarter, the start of April, the start of the 2nd Quarter, and a Friday off for observing Good Friday, for a four day trading week. The Stock Market Bull started out the week with a new record high for the DJIA on Monday, but letting The Stock Market Bear have his way with the NASDAQ and S&P500. This encouraged the Bear who then took the hat trick on Tuesday. They traded places on Wednesday with The Bull recapturing the NASDAQ and S&P500, but didn’t have enough strength to keep the DJIA. On Thursday The Bear stayed in his cave to start dyeing Easter eggs, The Bull charged onto the pasture, took his trifecta for the week on Thursday, and established a new record high for the S&P500 while coming from behind to get a 3-0 Week 13 victory. With both now resting for 3 days it should make the first full week of April one to anticipate.

The Week 13 of 2021 tally YTD is:

 

  • The Stock Market Bull: 6 weeks
  • The Stock Market Bear: 4 weeks
  • Mixed Results: 3 weeks

 

Daily Corporate News:

Merck(PBR65 $MRK) completes $1.85 billion in equity value acquisition of Pandion Therapeutics(Nasdaq: PAND), a clinical-stage biotechnology company developing novel therapeutics for patients living with autoimmune diseases. PR link.

CarMax(PBR142 $KMX) to acquire remaining stake it does not own in $140 million in 2020 revenues Edmunds, implies an enterprise value of $404 million, to close by 06/30/21. PR link.

IQVIA(PBR268 $IQV) acquires 40% minority share of Q2 Solutions from Quest Diagnostics(PBR313 $DGX) for $760 million, results in 100% ownership by IQVIA. PR link.

Alcoa(PBR319 $AA) completes around $670 million sale of its rolling mill business, held by Alcoa Warwick, to Kaiser Aluminum, has 1,170 employees, produces 310,000 metric tons of flat rolled aluminum annually. PR link.

Kemper(PBR500 $KMPR) completes $370 million cash acquisition of Downers Grove, IL based network of 500 independent agents and 110+ captive agents specialty private passenger auto insurance in 5 states provider American Access Casualty CompanyPR link.

Ingersoll-Rand(PBR809 $IR) completes around $300 million cash sale of its majority interest in its High Pressure Solutions (HPS) Segment to private equity firm American Industrial Partners, retains a 45% common equity interest in the business. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary February 2021 US Construction Spending Annual Rate-Residential is at $727.4 billion, Non-Residential $789.5, making Preliminary February 2021 US Total Construction Spending Annual Rate at $1,516.9 billion, January 2021 was at $1,529.0 billion, December 2020 $1,510.3 billion, February 2020 $1,441.1 billion. PR link.

The Institute for Supply Management says the March 2021 US Manufacturing PMI Index(>50%=Economy expanding) is at 64.7%, February 2021 was at 60.8%, January 2021 58.7%, March 2020 49.1%. “This figure indicates expansion in the overall economy for the 10th month in a row after contraction in April… Optimistic panel sentiment increased, with eight positive comments for every cautious comment, compared to a 5-to-1 ratio in February.” PR link.

IHS Markit says the March 2021 US Manufacturing PMI Index is at 59.1, February 2021 was at 58.6, January 2021 59.2, March 2020 48.5. “With business expectations becoming even more optimistic in March, further strong production growth looks likely in the second quarter, but the big question will be whether rising price pressures also become more entrenched.” PR link.

***Wednesday, March 31

The US Stock Exchanges Recap for March 2021 ending 03/31/21:

DJIA ends March 2021 at 32,981.55, -0.28% from last Friday, +6.62% MTD, +7.76% QTD/YTD, -0.57% from record 33,171.37 set 03/29/21.

NASDAQ ends March 2021 at 13,246.87, +0.82% from last Friday, +0.41% MTD, +2.78% QTD/YTD, -6.02% from record 14,095.47 set 02/12/21.

SPX ends March 2021 at 3,972.89, -0.04% from last Friday, +4.24% MTD, +5.77% QTD/YTD, -0.04% from record 3,974.54 set 03/26/21.

US Stock Exchanges March 2021 News Summary:

The Stock Market Bull and The Stock Market Bear traded strong punches in the first week of March. But then The Stock Market Bull dominated with a lot of nice jabs during the second week. During weeks three and four the combatants traded punches. During the whole month The Stock Market Bear focused on the technology oriented NASDAQ, had some good rounds, but The Stock Market Bull managed to sneak ahead in the last week. The Stock Market Bull also established several new record highs for the DJIA and S&P500 during the month. The bottom line is that The Stock Market Bull takes a 3-0 victory for March and remains unbeaten in the first 3 months of 2021.

The March 2021 tally YTD(3 Months) is:

 

  • The Stock Market Bull: 2 months
  • The Stock Market Bear: 0 months
  • Mixed Results: 1 month

 

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The PBR1000 March 2021 Top 5 Stocks Snapshots

The PBR1000 for March 2021: Two In A Row For The Bull

PBR1000 Snapshots Recap Bull Bear

The Stock Market Bull prevails in March, makes it two months in a row. The PBR1000 hopes this is a good omen for the rest of 2021.

By Larry C. Paxton

The US Stock Exchanges Recap for March 2021 ending 03/31/21:

DJIA ends March 2021 at 32,981.55, -0.28% from last Friday, +6.62% MTD, +7.76% QTD/YTD, -0.57% from record 33,171.37 set 03/29/21.

NASDAQ ends March 2021 at 13,246.87, +0.82% from last Friday, +0.41% MTD, +2.78% QTD/YTD, -6.02% from record 14,095.47 set 02/12/21.

SPX ends March 2021 at 3,972.89, -0.04% from last Friday, +4.24% MTD, +5.77% QTD/YTD, -0.04% from record 3,974.54 set 03/26/21.

US Stock Exchanges March 2021 News Summary:

The Stock Market Bull and The Stock Market Bear traded strong punches in the first week of March. But then The Stock Market Bull dominated with a lot of nice jabs during the second week. During weeks three and four the combatants traded punches. During the whole month The Stock Market Bear focused on the technology oriented NASDAQ, had some good rounds, but The Stock Market Bull managed to sneak ahead in the last week. The Stock Market Bull also established several new record highs for the DJIA and S&P500 during the month. The bottom line is that The Stock Market Bull takes a 3-0 victory for March and remains unbeaten in the first 3 months of 2021.

The March 2021 tally YTD(3 Months) is:

 

  • The Stock Market Bull: 2 months
  • The Stock Market Bear: 0 months
  • Mixed Results: 1 month

 

The March 2021 US Major Stock Market Exchanges Summary

Number of Trading Days: 23

Number of Gain(+)/Loss(-) Days: DJIA 13+/10-; NASDAQ 12+/11-; SPX 12+/11-.

Record Days: DJIA 7, NASDAQ 0, SPX 5, Total 12

Longest Gain Streak(Consecutive Days): DJIA 7 days(03/05-15/21)NASDAQ 3 days(03/15-17/21),  and SPX 5 days(03/09-15/21)

Longest Loss Streak(Consecutive Days): DJIA 3 days(03/02-04/21)NASDAQ 3 days(03/02-04/21), and SPX 3 days(03/02-04/21)

Big Swing Up Days(>1.00%): 9 days, 03/01/21( D +1.95%, N +3.01%, S +2.38%), 03/05/21/21(D +1.85%, N +1.55%, S +1.95%), 03/09/21(N +3.69%, S +1.42%), 03/10/21(D +1.46%), 03/11/21(N +2.52%, S +1.04%), 03/15/21(N +1.05%), 03/22/21(N +1.23%), 03/26/21(D +1.39%, N +1.24%, S +1.16%), 03/31/21(N +1.54%)

Big Swing Down Days(<-1.00%): 7 days, 03/02/21(N -1.69%), 03/03/21(N -2.70%, S -1.31%), 03/04/21(D -1.11%, N -2.11%, S -1.34%), 03/08/21(N -2.41%), 03/18/21(N -3.02%, S -1.48%), 03/23/21(N -1.12%), 03/24/21(N -2.01%)

 

The PBR1000 March 2021 Top 5 Stocks Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 February 2021 Snapshots. The price for stocks is for the close of trading on March 31, 20211 Month % Chg is compared to February 26, 202112 Months % Chg is compared to March 31, 2020, the 24 Months % Chg is compared to March 31, 2019, and 60 Months % Chg is compared to March 31, 2016. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots  just click here to get your 12 month subscription and automatically download the March 2021 edition with the complete 15 Snapshots and 28 rankings with the bonuses The PBRMarketTools US Monthly Indices Snapshots and The PBR25 Top Buy Stocks.

 

Table 1(S11): The PBR1000 Top 5 Month Stock Price % Gainers

Table 1 Summary: The range was +87% to -63%812 out of 997 stocks were up 0% or more. The average was a gain of 4.81%, the median was a gain of 5.73%. The DJIA was +6.62%, NASDAQ +0.41%, SPX +4.24%.

Company PBR
Rank
Symbol Price
03/31/21
Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
60 Mos
% Chg
GameStop 422 GME $ 189.62 +87 +5,323 +1,768 +498
Hovnanian 831 HOV $ 105.74 +84 +1,183 +864 +171
Veritiv 425 VRTV $ 42.54 +79 +441 +62 +14
Community Health Sys 250 CYH $ 13.52 +58 +305 +262 -27
US Steel 302 X $ 26.17 +58 +315 +34 +63

 

Table 2(S12): The PBR1000 Top 5 12 Months Stock Price % Gainers

Table 2 Summary: The range was +5,323% to -72%964 out of 987 stocks were up 0% or more. The average was a gain of 69.80%, the median was a gain of 77.30%. The DJIA was +50.48%, NASDAQ +72.04%, SPX +53.71%.

Company PBR
Rank
Symbol Price
03/31/21
Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
60 Mos
% Chg
GameStop 422 GME $ 189.92 +87 +5,323 +1,768 +498
Tupperware 921 TUP $ 26.41 -14 +1,530 +3 -54
Antero Resources 634 AR $ 10.20 +13 +1,331 +16 -59
Michael’s 507 MIK $ 21.94 +46 +1,254 +92 -22
SM Energy 946 SM $ 16.37 +18 +1,242 -6 -13

 

Table 3(S13): The PBR1000 Top 5 24 Months Stock Price % Gainers

Table 3 Summary: The range was +1,768% to -90%734 out of 977 stocks were up 0% or more. The average was a gain of 40.62%. The median was a gain of 27.64%. The DJIA was +27.20%, NASDAQ +71.38%, SPX +40.17%.

 

Company PBR
Rank
Symbol Price
03/31/21
Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
60 Mos
% Chg
GameStop 422 GME $ 189.82 +87 +5,323 +1,768 +498
Tesla 94 TSLA $ 667.93 -1 +537 +1,093 +1,353
Hovnanian 831 HOV $ 105.74 +84 +1,183 +863 +171
Owens & Minor 342 OMI $ 37.59 +11 +311 +817 -7
RH 782 RH $ 596.60 +22 +494 +480 +1,324

 

Table 4(R21): The PBR1000 Top 5 60 Months Stock Price % Gainers

Table 4 Summary: The range was +2,654% to -88%697 out of 923 stocks were up 0% or more. The average was a gain of 97.95%. The median was a gain of 59.58%. The DJIA was +86.49%, NASDAQ +172.02%, SPX +92.88%.

 

Company PBR
Rank
Symbol Price
03/31/21
Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
60 Mos
% Chg
AMD 301 AMD $ 78.50 -7 +73 +208 +2,654
NVIDIA 277 NVDA $ 533.93 -3 +103 +197 +1,399
Square 312 SQ $ 227.05 -1 +333 +203 +1,386
Tesla 94 TSLA $ 667.93 -1 +537 +1,093 +1,353
RH 782 RH $ 596.60 +22 +494 +480 +1,324

 

Table 5(S15): The PBR1000 Top 5 Market Capitalization

Table 4 Summary: The range was $2,306 billion to $0.01 billion. The average is $36.703 billionmedian is $9.60 billion, out of 1,000 companies.

Company PBR
Rank
Symbol Market Cap($B)
03/31/21
1 Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
Apple 3 AAPL $ 2,013 -1 +81 +125
Microsoft 15 MSFT $ 1,749 +1 +43 +93
Amazon 2 AMZN $ 1,539 -0 +57 +76
Alphabet 9 GOOG $ 1,383 +1 +75 +70
Facebook 30 FB $ 820 +13 +73 +72
The PBR1000
  $ 38,510 +3 +58 +44

 

Table 6: The PBR1000 Index & Primary US Stock Exchanges/Commodities

Company Price
03/31/21
Mo
% Chg
12 Mos
% Chg
24 Mos
% Chg
60 Mos
% Chg
The PBR1000 123,526.11 +4.8 +69.8 +40.6 +98.0
DJIA 32,981.55 +6.6 +50.5 +27.2 +86.5
NASDAQ 13,246.87 +0.4 +72.0 +71.4 +172.0
S&P500 3,972.89 +4.2 +53.7 +40.2 +92.9
GOLD 1,715.60 -0.8 +7.8 +32.3 +38.9
SILVER 24.53 -7.2 +78.3 +62.5 +58.7
OIL 59.16 -3.8 +194.3 -1.7 +54.3

 

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The PBR1000 March 2021 Breaking News Recap

The PBR1000 for March: Continuing to Rebuild

PBR1000 economy business

The economy continues to rebuild as hopefully the COVID-19 pandemic starts to wind down. What will the new economy look like?

The March 2021 breaking news items of interest for The PBR1000 follow with the most current date first.

***Wednesday, March 31

The US Stock Exchanges Recap for March 2021 ending 03/31/21:

DJIA ends March 2021 at 32,981.55, -0.28% from last Friday, +6.62% MTD, +7.76% QTD/YTD, -0.57% from record 33,171.37 set 03/29/21.

NASDAQ ends March 2021 at 13,246.87, +0.82% from last Friday, +0.41% MTD, +2.78% QTD/YTD, -6.02% from record 14,095.47 set 02/12/21.

SPX ends March 2021 at 3,972.89, -0.04% from last Friday, +4.24% MTD, +5.77% QTD/YTD, -0.04% from record 3,974.54 set 03/26/21.

US Stock Exchanges March 2021 News Summary:

The Stock Market Bull and The Stock Market Bear traded strong punches in the first week of March. But then The Stock Market Bull dominated with a lot of nice jabs during the second week. During weeks three and four the combatants traded punches. During the whole month The Stock Market Bear focused on the technology oriented NASDAQ, had some good rounds, but The Stock Market Bull managed to sneak ahead in the last week. The Stock Market Bull also established several new record highs for the DJIA and S&P500 during the month. The bottom line is that The Stock Market Bull takes a 3-0 victory for March and remains unbeaten in the first 3 months of 2021.

The March 2021 tally YTD(3 Months) is:

 

  • The Stock Market Bull: 2 months
  • The Stock Market Bear: 0 months
  • Mixed Results: 1 month

 

Daily Corporate News:

Microsoft(PBR15 $MSFT) wins a nearly $22 billion 5 year plus 5 year extension contract to supply US Army combat troops with its augmented reality headsets, technology is based on Microsoft’s HoloLens headsets, which were originally intended for the video game and entertainment industries. VOA News PR link.

American Airlines(PBR169 $AAL) has repaid in full $2.8 billion of revolving loans, in the aggregate, under three separate revolving credit facilities in a liquidity-neutral transaction, had borrowed the $2.8 billion in April 2020 in response to the coronavirus (COVID-19) pandemic and its impact on the demand for air travel. PR link.

Camping World(PBR344 $CWH) to acquire multi-location Hilltop RV Superstore, with dealerships in Escanaba and Ishpeming, Michigan, to close in 05/21. PR link.

KKR(PBR576 $KKR) has acquired The Exchange on 16th, a 750,000-square-foot Class A office complex in San Francisco, CA, from Kilroy Realty, for approximately $1 billion. PR link.

Cubic Corp(PBR961 $CUB) has accepted a proposal from Veritas Capital and Evergreen Coast Capital, an affiliate of Elliott Investment Management, to increase the price per share of their pending acquisition of Cubic to $75.00 per share in cash, around $3 billion which includes debt, has ceased engagement with ST Engineering who had bid $78/share, has set 04/27/21 for a special shareholders meetings to vote on being acquired. PR link.

Daily Economic News:

The US Dept of the Treasury says on 03/29/21 the US National Debt-Public is at $21.839 trillion, Intragovernmental $6.151 trillion, making 03/29/21 US Total National Debt at $27.990, 02/28/21 was at $28.005 trillion, 01/31/21 $27.829 trillion, 03/30/20 $23.687 trillion. PR link.

The US Dept of the Treasury says the 03/31/21 US 10 Year Treasury Note Yield was at 1.74%, 02/26/21 was at 1.44%, 01/29/21 1.11%, 03/31/20 0.70%. PR link.

ADP says the Preliminary March 2021 US Change in Private Sector Employment-Small Businesses(1-49 employees) is at +174,000, Mid-Sized(50-499) +188,000, Large-Sized(500 or more) +155,000; Goods Producing Sector is at +80,000, Services Sector 437,000; making March 2021 Total US Employment Change at +517,000, February 2021 was at +176,000, January 2021 +196,000, March 2020 -204,000. “We saw marked improvement in March’s labor market data, reporting the strongest gain since September 2020… “Job growth in the service sector significantly outpaced its recent monthly average, led with notable increase by the leisure and hospitality industry. This sector has the most opportunity to improve as the economy continues to gradually reopen and the vaccine is made more widely available. We are continuing to keep a close watch on the hardest hit sectors but the groundwork is being laid for a further boost in the monthly pace of hiring in the months ahead.” PR link.

The US Energy Information Administration says that on 03/26/21 the US Crude Oil Stocks is at 501.8(Millions of Barrels), 02/19/21 was at 463.0, 01/22/21 476.7, 03/20/21 455.4. PR link.

The American Automobile Assn says on 03/31/21 the US Average Price of a Gallon of Regular Gas is at $2.874, 02/26/21 was at $2.699, 01/29/21 $2.422, 03/31/20 $1.997. PR link.

The Federal Reserve Bank of Chicago says the February 2021 US 7th District Midwest Economy Index is at +0.35, January 2021 was at +0.65, December 2020 +1.26, February 2020 -0.16. “Index suggests slower Midwest growth through February.” PR link.

MNI Indicators says the Preliminary March 2021 Chicago Business Barometer Index(>50 Economy gaining) is at 66.3, February 2021 was at 59.5, January 2021 63.8, March 2020 47.8. PR link.

The US Dept of Commerce/BEA says the Preliminary 4Q20 US Net International Investment Position-Assets is at $32.156 trillion, Liabilities $46.248 trillion, making a 4Q20 Deficit at $14.092 trillion, 3Q20 Deficit was at $13.865, 2Q20 Deficit $13.085 trillion, 4Q19 Deficit $11.051 trillion. PR link.

***Tuesday, March 30

Daily Corporate News:

Walgreens(PBR16 $WBA) announces agreement with InComm Payments, a global payments technology company, to provide convenient and accessible financial services options for its customers, will launch a new bank account offering for its customers to be established at MetaBank* with a Mastercard debit card that will serve Walgreens shoppers both in-store and online and allow them to earn myWalgreens Cash rewards on all purchases. PR link.

Merck(PBR65 $MRK) spin-off of its women’s health, biosimilars and established brands businesses into a standalone, publicly-traded company, Organon, will follow with Organon acquiring Alydia Health, a commercial-stage medical device company focused on preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding, for $240 million, to close in late 2Q21. PR link.

PayPal(PBR131 $PYPL) launches Checkout with Crypto, customers with cryptocurrency holdings in the US will be able to choose to check out with crypto within PayPal at checkout. PR link.

Becton Dickinson(PBR172 $BD) gets US FDA Emergency Use Authorization for the BD Veritor™ System for Rapid Detection of SARS-CoV-2 & Flu A+B assay, takes about 15 minutes and distinguishes between SARS-CoV-2, influenza A and influenza B, by providing definitive positive or negative individual digital display readouts for all three. PR link.

Gap Inc(PBR184 $GPS) to sell Janie and Jack, a premium children’s fashion brand acquired by Gap in 2019, to Go Global Retail, includes the e-commerce platform, all store leases, and assets, has 115 locations, terms not disclosed. PR link.

Illumina(PBR657 $ILMN)‘s $8 billion acquisition of multi-cancer early detection healthcare company GRAIL is challenged by the US Federal Trade Commission, Illumina disagrees and will oppose challenge, states its reasons why. PR link.

Daily Economic News:

The S&P CoreLogic Case-Shiller Preliminary January 2021 US National Home Price Index(01/2000=100) is at 236.31, December 2020 was at 234.45, November 2020 232.46, January 2020 212.48. “January’s data remain consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a shift in the demand curve for housing. Future data will be required to analyze this question.” PR link.

The Conference Board says the Preliminary March 2021 US Consumer Confidence Index(1985=100) is at 109.7, February 2021 was at 90.4, January 2021 88.9, March 2020 118.8. “Consumers’ assessment of current conditions and their short-term outlook improved significantly, an indication that economic growth is likely to strengthen further in the coming months. Consumers’ renewed optimism boosted their purchasing intentions for homes, autos and several big-ticket items. However, concerns of inflation in the short-term rose, most likely due to rising prices at the pump, and may temper spending intentions in the months ahead…” PR link.

The Federal Reserve Bank of Richmond says the March 2021 5th District Manufacturing Index(Annualized) is at +17%, February 2021 was at +14%, January 2021 +14%, March 2020 +2%. “Survey respondents were optimistic that conditions would continue to improve in the coming months.” PR link.

The Federal Reserve Bank of Richmond says the March 2021 5th District Service Sector Revenue Index(Annualized) is at +16%, February 2021 was at -6%, January 2021 -3%, March 2020 +1%. “Firms reported improved business conditions and increased capital spending. Survey respondents were optimistic that conditions would continue to improve in the next six months.” PR link.

***Monday, March 29

Daily Corporate News:

Boeing(PBR55 $BA) gets order for 100 Boeing 737 MAX jets, plus 155 options across 2 models from Southwest Airlines(PBR325 $LUV), raises Southwest’s 737 MAX commitment to more than 600 jets between the 737-7 and larger 737-8. PR link.

Allstate(PBR67 $ALL) to exit the Life and Annuity business by selling its Allstate Life Insurance Company of New York to Wilton Re for $220 million, to close in 2H21. PR link.

VISA(PBR130 $V) becomes first major payments network to settle transactions in digital currency USD Coin (USDC). PR link.

American Airlines(PBR169 $AAL) says on 03/26/21 the 7 day moving average of its net bookings is approximately 90% of the 2019 level, with a domestic load factor of approximately 80%, expects this strength in bookings to continue through the end of the 1Q21 and into the 2Q21. PR link.

Applied Materials(PBR171 $AMAT) $2.2 billion acquisition of Tokyo, Japan based provider of high-productivity batch processing systems and services for memory, foundry and logic Kokusai Electric from global investment firm KKR(PBR834 $KKR) is terminated as of 03/19/21 as Applied did not receive confirmation of timely approval from the regulator in China, Applied to pay KKR a termination fee of $154 million in cash. PR link.

News Corp(PBR326 $NWSA) to acquire the $191.7 million in 2020 revenues Books & Media segment of Houghton Mifflin Harcourt (HMH Books & Media) for $349 million in cash, will be operated by News Corp’s HarperCollins Publishers subsidiary, to close by 06/30/21. PR link.

Camping World(PBR344 $CWH) to acquire Trailer City RV dealership in Fairmont, WV, will be CWH’s first location in W Virginia, to close in 05/21. PR link.

Broadridge Financial(PBR550 $BR) to acquire global Stockholm, Sweden based Itiviti Holding AB, a leading provider of trading and connectivity technology to the capital markets industry, from Nordic Capital for approximately $2.5 billion cash, to close by 06/30/21. PR link.

Carlyle Group(PBR650 $CG)’s Carlyle Aviation Partners unit to acquire Fly Leasing Ltd(NYSE: FLY), a global leader in aircraft leasing for $17.05 per share in cash, for a total valuation of approximately $520 million, total enterprise value of approximately $2.36 billion. PR link.

Daily Economic News:

No economic news items today.

***Friday, March 26

The US Stock Exchanges Recap for Week 12 of 2021 ending 03/26/21:

DJIA ends Week 12 at record 33,072.88, +1.36% from last Friday, +6.92% MTD, +8.06% QTD/YTD, +0.00% from record 33,072.88 set 03/26/21.

NASDAQ ends Week 12 at 13,138.72,-0.58% from last Friday, -0.41% MTD, +1.94% QTD/YTD, -6.79% from record 14,095.47 set 02/12/21.

SPX ends Week 12 at record 3,974.54, +1.57% from last Friday, +4.29% MTD, +5.82% QTD/YTD, +0.00% from record 3,974.54 set 03/26/21.

US Stock Exchanges Week 12 of 2021 News Summary:

After losing Week 11 The Stock Market Bull entered the ring on Monday and had a good round. But The Stock Market Bear charged into Tuesday and Wednesday delivering some punishing body blows, especially to tech stocks. On Thursday The Stock Market Bull managed to hold is own and take the day. Friday started out slowly, but The Stock Market Bull finally took charge later in the day, surprisingly closing out the round with new records on the DJIA and S&P500. The Stock Market Bear was pretty bloodied up, but his earlier efforts gave him the NASDAQ for the week. The Stock Market Bull gets a split 2-1 decision in Week 12.

The Week 12 of 2021 tally YTD is:

 

  • The Stock Market Bull: 5 weeks
  • The Stock Market Bear: 4 weeks
  • Mixed Results: 3 weeks

 

Week 12 News Summary:

Coronavirus Pandemic: As of today, Friday, 03/26/21, at 1:27PM Eastern US, the John Hopkins University CSSE unit says there are now 125,873,865 confirmed cases globally with 2,761,499 deaths, an increase from last Friday of 65,554, which is +4,588 from last Friday. For the US it is 30,137,807 confirmed cases and 547,812 deaths, an increase from last Friday of 7,079, which is -1,742 from last Friday, the 7th week in a row of declining death rates. US President Biden revised his goal of 100 million vaccinations by his first 100 days in office to 200 million vaccinations. States continue to open up more, and there are broad based pushes to especially open up schools. There are continuing concerns about variants, which have affected other countries, but so far have not had a major impact in the US. Vaccination programs continue to expand.

US Federal Government: The America Rescue Plan is still in the process of being understood and implementation is starting. Stimulus checks continue to be processed. The immigration surge at the Southern US border continues, temporary facilities are being built, but processing times are still lagging and no real solution is apparent at this time.

US Economy: Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testified in both US House and US Senate committee hearings and tried to address inflationary fears and monetary policies. Weekly initial jobless claims took an encouraging dip. The new and existing home sales forecast was disappointingly lower than expected as the demand for housing continues an upward trend. At the same time mortgage rates increased. Bond yields retreated a little.

Corporate Business: Retailers continue to retool how they sell trying to find the delicate balance of physical stores and using e-commerce to drive sales. Manufacturing continues to trend up. However, automobile and other manufactured items requiring electronics are having a struggle as there is a shortage of microchips. The travel and hospitality sectors are gearing up for more reopenings in the coming months with the pandemic hopefully coming to a close. Corporations continue to try to address employee diversity, wage inequalities, and climate change issues.

International News: . Europe continues to struggle with surges in COVID-19 infections. A cargo barge is stuck sideways in the Suez Canal, blocking traffic from both directions, costing the global economy an estimated $10 billion/day. Myanmar continues to have protests resulting in many civilian casualties inflicted by the military which is controlling the government. N Korea lobbed some missiles into nearby seas causing some concern. US President Biden has invited Russian and Chinese leaders to participate in a climate change meeting.

Daily Corporate News:

Corning(PBR269) to increase production of glass vials for COVID-19 vaccines by 50% from prior targets, after receiving more federal funding, now expecting to produce 150 million vials in 2021, will hold about 1.2 billion vaccine doses. MarketWatch PR link.

Daily Economic News:

The US Dept of Commerce/BEA says the Preliminary February 2021 US Personal Income Annual Rate is at $19.946 trillion, January 2021 was at $21.462 trillion, December 2020 $19,491 trillion, February 2020 $19.116 trillion. “The decrease in personal income in February was more than accounted for by a decrease in government social benefits to persons. Within government social benefits, ‘other’ social benefits, specifically the economic impact payments to households, decreased.” More data at the PR link.

The U of MIchigan Final March 2021 Consumer Survey Index is at 84.9, February 2021 was at 76.8, January 2021 79.0, March 2020 89.1. “Consumer sentiment continued to rise in late March, reaching its highest level in a year due to the third disbursement of relief checks and better than anticipated vaccination progress…” PR link.

TrueCar says the Forecasted March 2021 US New Car Sales-Retail Units is at 1,260,416, Fleet Units is at 200,404, making March 2021 US Total New Car Sales Units at 1,460,820, February 2021 was at 1,196,008, January 2021 1,109,578, March 2020 990,332; March 2021 Average Transaction Price is at $37,549, March 2020 was at $36,364. PR link.

***Thursday, March 25

Daily Corporate News:

Kohl’s(PBR145 $KISS) announces Cole Haan, one of America’s most iconic footwear brands, is now available at 200 Kohl’s stores and online at Kohls.com. PR link.

United Airlines(PBR196 $UAL) adding 26 new US routes in late 05/21, will fly 46% of its international schedule compared to its May 2019 schedule. PR link.

News Corp(PBR326 $NWSA) to acquire Los Angeles, CA-based 130 employees and with nearly 100,000 digital subscribers across its platforms Investor’s Business Daily, from O’Neil Capital Management, for $275 million, will operate as a stand-alone brand as part of the Dow Jones unit, to close by 06/30/21. PR link.

Darden Restaurants(PBR365 $DRI) authorizes new up to $500 million share repurchase program, says its hourly restaurant team members earn more than $17 per hour today on average, announces increases in minimum hourly wages. PR link.

Lumentum(PBR939 $LITE) receives notice of termination for acquisition of Coherent(NASDAQ: COHR), Coherent is required to pay a $217.6 million termination fee, Lumentum notes that using 03/24/21 closing price Lumentum’s offer had a value of $283.12 while the value of II–VI(NASDAQ: IIVI)‘s offer was $281.21. PR link.

SunPower(PBR907 $SPWR) Chariman/CEO Tom Werner to retire, will remain Chairman for 6 months, Peter Faricy hired to become CEO on 04/19/21, add Chairman role upon Werner retirement. PR link.

Daily Economic News:

The US Dept of Commerce/BEA says the 3rd Estimate 4Q20 US Gross Domestic Product is revised from +4.1% to +4.3%, $21.495 trillion, 3Q20 was at $21.170 trillion, 2Q20 $19.520 trillion, 4Q19 $21.747 trillion. More data at the PR link.

The US Dept of Labor says that for the week ending 03/20/21 the US Weekly Initial Unemployment Insurance Claims is at 684,000, 02/20/21 was at 730,000, 01/23/21 847,000, 03/21/20 3,283,000. More data at the PR link.

FreddieMac says the week ending 03/25/21 US Average 30 Year Fixed Mortgage Rate is at 3.17% with 0.7 points/fees, 02/25/21 was at 2.97%, 01/28/21 2.73%, 03/26/20 3.50%. “Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest.” PR link.

The US Federal Reserve announces temporary and additional restrictions on bank holding company dividends and share repurchases currently in place will end for most firms after 06/30/21, based on results from upcoming stress test. PR link.

***Wednesday, March 24

Daily Corporate News:

American Airlines(PBR169 $AAL) prepays its CARES Act $550 million loan to the US Dept of Treasury, has terminated its loan commitments under the agreement. PR link.

YUM!(PBR466 $YUM) has acquired privately held Tel Aviv, Israel based Tictuk Technologies, an omnichannel ordering and marketing platform company, will give YUM! the ability to offer more ways for consumers globally to access and order its KFC, Pizza Hut, Taco Bell and The Habit Burger Grill brands through some of the world’s most popular social media and conversational platforms, terms not disclosed. PR link.

Daily Economic News:

No items published today.

***Tuesday, March 23

Daily Corporate News:

Wells Fargo(PBR34 $WFC) to sell its Corporate Trust Services business to Computershare for $750 million, to close in 2H21. PR link.

Intel(PBR37 $INTC) introduces “IDM 2.0,” its new integrated device manufacturing (IDM) model, includes significant manufacturing expansion plans, starting with an estimated $20 billion investment to build two new factories in Arizona, also announces plans to become a major provider of foundry capacity in the US and Europe to serve customers globally. PR link.

Hartford Financial(PBR136 $HIG) board unanimously rejects the Chubb(PBR84 $CB) 03/11/21 unsolicited proposal to acquire The Hartford for $65/share in cash and stock, also determines that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. PR link.

General Mills(PBR165 $GIS) to sell its 51% controlling interest in Europe based Yoplait S.A.S. to Sodiaal, a leading French dairy cooperative, in exchange for full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in the US and Canada, to close by the end of 2021. PR link.

Chipotle(PBR453 $CMG) to add 8 restaurants in Canada in 2021, has 23 restaurants currently. PR link.

Altria(PBR105 $MO) Chairman Thomas F. Farrell II to retire at completion of his current term, new Chairman to be appointed after 05/20/21 annual meeting. PR link.

Daily Economic News:

The US Dept of Commerce/BEA says the Preliminary 4Q20 US Exports of Goods, Services & Income Receipts are at $840.0 billion, Imports of Goods, Services & Income Payments are at $1,028.5 billion, making the US 4Q20 International Trade Deficit at $188.5 billion, 3Q20 was at $180.9 billion, 2Q20 $163.2 billion, 4Q19 $104.3 billion; Preliminary 2020 US Trade Balance Deficit is at $647.2 billion, 2019 was at $480.2 billion. PR link.

The US Dept of Commerce/HUD says the Preliminary February 2021 US New Family Home Sales Annual Rate is at 775,000, January 2021 was at 948,000, December 2020 919,000, February 2020 716,000; the February 2021 US New Family Home Median Price is at $349,500, January 2021 $353,200, December 2020 $356,600, February 2020 $331,800. More data at the PR link.

The US Federal Reserve Bank of Philadelphia says the March 2021 US 3rd District Non-Manufacturing Current General Activity Index is at +38.6, February 2021 was at +3.9, January 2021 -17.5, March 2020 -35.1. “The indexes for general activity at the firm level, sales/revenues, and new orders all posted gains. Additionally, the index for full-time employment increased. The firms continued to report overall increases in the prices of both their own goods and their inputs. The respondents continued to anticipate growth over the next six months.” PR link.

***Monday, March 22

Daily Corporate News:

SYNNEX(PBR112 $SNX) to be acquired by Apollo Global Mgmt(PBR734)’s Tech Data for around $7.2 billion, including net debt, combined will have approximately $57 billion in estimated pro forma annual revenues and a team of over 22,000 associates and colleagues. PR link.

Applied Materials(PBR171 $AMAT) approves a new $7.5 billion stock buyback authorization, supplementing the previous authorization which has approximately $1.3 billion remaining. PR link.

Blackstone(PBR442 $BX) makes an unsolicited, non-binding and indicative proposal to acquire all of the shares in casinos operator Crown Resorts Australia(ASX: CWN) for around $6 billion, Blackstone currently holds 9.99% of Crown’s common shares. PR link.

Chemours(PBR512 $CC) initiates a strategic review to assess the potential sale of its Mining Solutions business, intended to drive shareholder value and portfolio focus. PR link.

Ametek(PBR549 $AME) to acquire Huntsville, AL-based Abaco System, a leading provider of mission critical embedded computing systems with annual sales of around $325 million, from Veritas Capital in an all-cash transaction valued at $1.35 billion, to close in mid-2021. PR link.

Kansas City Southern(PBR747 $KSU) to be acquired by Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) for $275/share cash & stock, represents and enterprise value of $29 billion, includes $3.8 billion of debt, will create the first rail network connecting the US, Mexico, and Canada, to be completed around mid-2022 following regulatory approvals. PR link.

Cubic Corp(PBR961 $CUB) receives an unsolicited proposal from Singapore Technologies Engineering (SGX: S63; Bloomberg-STE: SP) to acquire all of Cubic’s outstanding stock for $76 per share in cash, Board said offer might be superior to $70/share offer by Veritas Capital and an affiliate of Elliott Investment Management, Board will be reviewing proposal. PR link.

Roper Technologies(PBR479 $ROP) appoints director Amy Woods Brinkley as Chair of the Company’s Board, effective 06/01/21, will succeed Wilbur J. Prezzano, who is retiring from the Board, consistent with the Company’s mandatory retirement guidelines. PR link.

TreeHouse Foods(PBR567 $THS) elects Ann M. Sardini as Chair, effective as of the Annual Meeting of Stockholders in 04/21, has served as an independent Director since 05/08, succeeds Gary D. Smith, who will remain on the Board. PR link.

Apollo Global Mgmt(PBR734 $APO) names Jay Clayton as Non-Executive Chairman, co-founder Marc Rowan officially assumes the CEO role, per succession plan announced in 01/21, Rowan and Clayton succeed Apollo Founder Leon Black. PR link.

Daily Economic News:

The Natl Assn of Realtors says the Preliminary February 2021 US Existing Home Sales Annual Rate is at 6,220,000, January 2021 was at 6,660,000, December 2020 6,650,000, February 2020 5,700,000; the February 2021 US Median Existing Home Price is at $313,000, January 2021 was at $303,900, December 2020 $309,800, February 2020 $270,400. More data at the NAR PR link.

The Federal Reserve Bank of Chicago says the Preliminary February 2021 US National Activity Index is at -1.09, January 2021 was at +0.75, December 2020 +0.28, February 2020 +0.02. “Two of the four broad categories of indicators used to construct the index made negative contributions in February, but all four categories decreased from January.” PR link.

***Friday, March 19

The US Stock Exchanges Recap for \Week 11 of 2021 ending 03/19/21:

DJIA ends Week 11 at 32,627.97, -0.46% from last Friday, +5.48% MTD, +6.60% QTD/YTD, -1.17% from record 33,015.37 set 03/17/21.

NASDAQ ends Week 11 at 13,215.24,-0.79% from last Friday, +0.17% MTD, +2.54% QTD/YTD, -6.24% from record 14,095.47 set 02/12/21.

SPX ends Week 11 3,913.10, -0.77% from last Friday, +2.68% MTD, +4.18% QTD/YTD, -1.54% from record 3,974.12 set 03/17/21.

US Stock Exchanges Week 11 of 2021 News Summary:

The Stock Market Bull started out Week 11 strongly, establishing new record highs for both the DJIA and S&P500 on Monday and Wednesday, while also recovering a lot of lost ground on the NASDAQ. However, The Stock Market Bull celebrated with a little too much green beer on St. Patrick’s Day evening. Thursday morning arrived with a groaning Bull lying flat on the ground, covering his head with his hoofs, completely helpless and unable to come into the pasture. The Stock Market Bear immediately seized the opportunity and on Thursday and Friday overwhelmed the unprotected herd, closing out Week 11 with a somewhat narrow 3-0 victory.

The Week 11 of 2021 tally YTD is:

 

  • The Stock Market Bull: 5 weeks
  • The Stock Market Bear: 4 weeks
  • Mixed Results: 2 weeks

 

Week 11 News Summary:

Coronavirus Pandemic: As of today, Friday, 03/19/21, at 1:26PM Eastern US, the John Hopkins University CSSE unit says there are now 122,086,638 confirmed cases globally with 2,695,945 deaths, an increase from last Friday of 60,966, which is +2,066 from last Friday. For the US it is 29,714,219 confirmed cases and 540,733 deaths, an increase from last Friday of 8,821, which is -870 from last Friday, the 6th week in a row of declining death rates. US President Biden’s goal of 100 million vaccinations by his first 100 days in office will be easily achieved. Some states are opening up more, Disney parks in California are scheduled to open in late April, for example. Variants are still a concern, but optimism is increasing that the end is in sight as vaccinations become more available and accepted as safe. In Europe the AstraZeneca vaccine was temporarily put on hold by most countries because of some recipients experiencing blood clots, but was cleared again by the end of the week.

US Federal Government: The America Rescue Plan is in action, with over 90 million people having received stimulus payments. Other parts of the plan becoming known and so far viewed as mostly positive. President Biden’s cabinet and other high level staff are in place after Senate approvals on a generally bipartisan basis. Immigration issues have surfaced again as undocumented children are crossing the border in much larger numbers with holding facilities being overwhelmed. FEMA is now involved and future actions and remedies are unclear.

US Economy: Despite much downplaying by the Federal Reserve after its mid-week meeting, concerns about inflation were being voiced by many and affected the stock market. The Fed kept short term interest rates at a 0.00-0.25% rate and indicated rates will probably stay low into 2023, based on their forecasts for low inflation and recovering employment. Initial jobless claims climbed higher than expected, some of that a reaction to some severe weather conditions in the Rockies and also in the Southeast. Manufacturing indices were mostly up, but retail dropped a little. Building permits issued took a drop as well. Bond yields rose again, and the Federal Reserve said it is allowing bank capital regulation exemptions to expire, which was a disappointing decision for financial institutions who view themselves as being a little more vulnerable now.

Corporate Business: Based on projections for the end of the Coronavirus Pandemic businesses are planning to open up more, as many companies adjust to new ways of doing business using e-commerce and logistics services. Travel and hospitality businesses have been especially hard hit by the pandemic, but are starting to make a recovery. Sports and entertainment arenas are starting to make plans to open up, but there are also a lot of streaming services getting in on the action. Small businesses still have a difficult road ahead, but the public also is showing that there is a pent up demand to be out and about and eager to help local establishments. Larger companies are also being more pro-active about their being regarded as climate conscious, talking about plans to minimize their carbon footprint. There are concerns about availability of labor and increases of raw materials.

International News: . The US and China held some initial meetings in Alaska, but initial indications are that there is a lot of work that will have to be done for smoother relations as President Biden and the Chinese leadership are taking some hard positions on trade and human rights. President Biden has also made some statements about Russia and its leader Vladimir Putin that have been unsettling for the Russians. The effects of trade from the UK and Europe Brexit decisions is starting to cause some economic problems on both sides. Myanmar continues to struggle as the military continues to rule the country with an increasingly hostile citizenry. The UK and other countries are opening doors to people who are considering leaving Hong Kong as China continues to increase its hold there.

Daily Corporate News:

VISA(PBR130) says it has been informed by the US Dept of Justice that an investigation is being opened into VISA’s US debit practices, VISA says it believes its US debit practices are in compliance, is cooperating with the DOJ. PR link.

Royal Caribbean(PBR867) completes $201 million cash sale of its Azamara brand to private equity firm Sycamore PartnersPR link.

Roku(PBR992) has acquired the “This Old House” business, inclusive of its global distribution rights and all of its subsidiary brands, including the “This Old House” and “Ask This Old House” TV programs, the show libraries(1,500+ episodes), all digital assets, and the television production studio, terms not disclosed. PR link.

Corteva(PBR209) adds 3 members to the Board, effective immediately, per agreement with key investor Starboard Value, will stand for re-election at annual meeting to be held 05/09/21. PR link.

Texas Roadhouse(PBR782) President Jerry Morgan promoted to also be CEO, effective immediately, succeeds founder/Chairman/CEO Kent Taylor who passed away on 03/18/21. PR link.

Daily Economic News:

The US Federal Reserve announces that the temporary change to its supplementary leverage ratio for bank holding companies will expire as scheduled on 03/31/21. PR link.

***Thursday, March 18

Daily Corporate News:

Walt Disney(PBR51 $DIS) plans to reopen its Disneyland Park and Disney California Adventure park on 04/30/21, requires reservations, open to California residents only. PR link.

Chubb(PBR84 $CB) confirms it submitted a preliminary proposal on 03/11/21 for a strategic business combination with insurance company Hartford Financial(PBR136 $HIG), aka The Hartford, values The Hartford at $65.00/share, a premium of 26% based on its unaffected 20-day volume weighted average share price of $51.70 as of 03/10/21, cash and stock proposal, has not yet heard back from The Hartford. PR link.

ViacomCBS(PBR107 $VIAC) gets new 11-year multiplatform rights agreement that extends CBS’ long-standing relationship with the NFL, starts in 2023 and goes through the 2033 season, will be home of the American Football Conference, includes the Paramount+ streaming service, includes 3 Super Bowls. PR link.

Hartford Financial(PBR136 $HIG) confirms receipt of unsolicited non-binding proposal from Chubb(PBR84 $CB) to be acquired for $65.00/share cash and stock proposal, being reviewed. PR link.

XPO Logistics(PBR186 $XPO) says it has filed a Form 10 with the US SEC for the spin-off of 100% of its logistics segment as a separate publicly traded company, shareholders to own stock in both companies, will be called GXO Logistics, to be completed in 2H21. PR link.

PPL Corp(PBR366 $PPL) to sell its UK utility business, Western Power Distribution, to National Grid plc for around $10.2 billion net proceeds, to close within 4 months, and in a separate transaction acquire National Grid’s Rhode Island utility, The Narragansett Electric Company, for $3.8 billion, to close within a year. PR link.

Lumentum(PBR944 $LITE) has received notice from Coherent(NASDAQ: COHR) that an unsolicited acquisition proposal from II–VI(NASDAQ: IIVI) to acquire Coherent in a cash and stock transaction constitutes a “Company Superior Proposal,” Lumentum has until 03/22/21 to amend its transaction agreement. PR link.

Peabody Energy(PBR563 $BTU) President/CEO Glenn Kellow to be leaving by 08/31/21 per agreement with the Board, which has started a search for a new CEO. PR link.

Illumina(PBR657 $ILMN) Chairman Jay Flatley to step down from Board at annual meeting scheduled for 05/26/21, successor to be John W. Thompson. PR link.

Texas Roadhouse(PBR782 $TXRH) Chairman/CEO/Founder Kent Taylor passes away. PR link.

Daily Economic News:

The US Dept of Labor says the 4Q20 US Hourly Wages & Salaries for All Workers(Average) is at $26.53, Benefits $12.07, for 4Q20 Total Hourly Compensation at $38.60, 3Q20 was at $38.26, 2Q20 $38.21, 4Q19 $37.10. PR link.

The Conference Board says the Preliminary February 2021 US Leading Economic Index(2016=100) is at 110.5, January 2021 was at 110.3, December 2020 109.8, February 2020 110.6. “… the acceleration of the vaccination campaign and a new round of large fiscal supports are not yet fully reflected in the LEI. With those developments, The Conference Board now expects the pace of growth to improve even further this year, with the U.S. economy expanding by 5.5 percent in 2021.” PR link.

The US Federal Reserve Bank of Philadelphia says the March 2021 US 3rd District Manufacturing General Activity Indicator is at +51.8, February 2021 was at +23.1, January 2021 +26.5, March 2020 -6.0. “All of the survey’s indexes for future conditions increased, as the firms indicated more widespread optimism about growth over the next six months.” PR link.

***Wednesday, March 17

Daily Corporate News:

Amazon(PBR2 $AMZN) expanding its Amazon Care service across the US this summer, for employees of both Amazon and participating companies in all 50 states, enables employees to connect with medical professionals via chat or video conference typically in less than 60 seconds. PR link.

Merck(PBR65 $MRK) files Form 10 with the US SEC for spinoff of its women’s health, biosimilars and established brands businesses into a standalone, publicly-traded company, Organon, to be completed in 2Q21. PR link.

Starbucks(PBR122 $SBUX) at virtual annual meeting celebrates starting with one store in Seattle’s Pike Place Market in 1971 to nearly 33,000 locations worldwide 50 years later. PR link.

Diamondback Energy(PBR626 $FANG) completes $2.29/share, around $2.2 billion all stock acquisition of QEP Resources(PBR988 $QEP)PR link.

Lumentum(PBR944 $LITE) revises proposal to acquire Coherent(Nasdaq: COHR) for $220.00 per share in cash and 0.6100 shares of Lumentum common stock, equates to $275.00/share, values transaction at $6.9 billion, with Silver Lake making a $1 billion investment in the combined company, requires stockholders approvals from both companies, to close in 2Q21. PR link.

Daily Economic News:

The US Federal Open Market Committee meeting of 03/16-17/21 concludes, keeps short term federal interest rates at 0.00-0.25% and “…will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.” PR link.

The US Dept of Commerce/HUD says the Preliminary February 2021 US Residential Building Permits Issued Annual Rate is at 1,682,000, January 2021 was at 1,886,000, December 2020 1,704,000, February 2020 1,438,000. PR link.

***Tuesday, March 16

Daily Corporate News:

Group 1 Automotive(PBR246 $GPI) has acquired two Toyota dealerships, located in Hyannis and Orleans on Cape Cod, MA, expected to generate approximately $120 million in annualized revenues. PR link.

Ross Stores(PBR189 $ROST) expects to name George Orban as Chairman and CEO Barbara Rentler Vice Chair at annual meeting to be held 05/19/21, current Chairman Michael Balmuth and Chairman Emeritus Norman Ferber will not be standing for re-election, but will be retained as advisers. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary February 2021 US Change In Import Prices is at +1.3%, January 2021 was at +1.4%, December 2020 +1.0%, February 2020 -0.7%, Last 12 Months +3.0%; the February 2021 US Change in Export Prices is at +1.6%, January 2021 was at +2.5%, December 2020 +1.2%, Last 12 Months +5.2%PR link.

The US Federal Reserve says the Preliminary February 2021 US Industrial Production % of Capacity is at 73.8%, January 2021 was at 75.5%, December 2020 74.6%, February 2020 76.9%. PR link.

The US Dept of Commerce/Census says the Preliminary January 2021 US Sales-Manufacturers is at $513.3 billion, Retailers $523.5 billion, Wholesalers $531.7, for Preliminary January 2021 US Total Sales at $1,568.5 billion, December 2020 was at $1,498.0 billion, November 2020 $1,482.8 billion, January 2020 $1,465.1 billion. PR link.

The US Dept of Commerce/Census says the Advance February 2021 US Retail Sales-Retailers is at $507.5 billion, Food Services & Drinking Places $54.2 billion, for Total Advance February 2021 US Retail Sales at $561.7 billion, January 2021 was at $579.1 billion, December 2020 $538.3 billion, February 2020 $528.5 billion. PR link.

The Natl Assn of Home Builders/Wells Fargo says its Preliminary March 2021 US Housing Market Composite Index(>50 indicates more builders view conditions as good than poor) is at 82, February 2021 was at 84, January 2021 83, March 2020 72. “While single-family home building should grow this year, the elevated price of lumber is adding approximately $24,000 to the price of a new home. And mortgage interest rates, while historically low, have increased about 30 basis points over the last month. Nonetheless, the lack of resale inventory means new construction is the only option for some prospective home buyers.” PR link.

***Monday, March 15

Daily Corporate News:

News Corp(PBR338 $NWSA) gets 3 year agreement with Facebook(PBR30) to provide access to trusted news and information to millions of Facebook users in Australia through its Facebook News product. PR link.

Extended Stay America(NASDAQ: STAY) to be acquired by a 50/50 joint venture of Blackstone(PBR398 $FB)’s Real Estate Partners and Starwood Capital Group for $19.50/share cash, transaction valued at around $6 billion, to close in 2Q21. http://bit.ly/2Q8VvH7PR link.

Daily Economic News:

The Federal Reserve Bank of New York says the March 2021 Empire State Manufacturing General Business Conditions Index is at +17.4, February 2021 was at +12.1, January 2021 +3.5, March 2020 -21.5. “Looking ahead, firms remained optimistic that conditions would improve over the next six months, anticipating significant increases in employment.” PR link.

***Friday, March 12

The US Stock Exchanges Recap for \Week 10 of 2021 ending 03/12/21:

DJIA ends Week 10 at record 32,778.64, +4.07% from last Friday, +5.97% MTD, +7.10% QTD/YTD, +0.00% from record 32,778.64 set 03/12/21.

NASDAQ ends Week 10 at 13,319.86,+3.09% from last Friday, +0.97% MTD, +3.35% QTD/YTD, -5.50% from record 14,095.47 set 02/12/21.

SPX ends Week 10 at record 3,943.34, +2.64% from last Friday, +3.47% MTD, +4.99% QTD/YTD, +0.00% from record 3,943.34 set 03/12/21.

US Stock Exchanges Week 10 of 2021 News Summary:

The Stock Market Bull easily took the DJIA and S&P500 during Week 10, with both achieving records to end the week. The primary battle was over the NASDAQ as The Stock Market Bear continued to take out his anger on the tech stocks on Monday, Wednesday and Friday. But The Stock Market Bull severely gouged the Bear enough on Tuesday and Thursday resulting in a convincing and very satisfying Week 10 3-0 victory. With the $1.9 trillion stimulus money flowing into the economy and COVID-19 vaccinations accelerating it would be easy to predict that The Stock Market Bull has a few more good weeks ahead of him. What devious surprises might The Stock Market Bear have to spoil that?

The Week 10 of 2021 tally YTD is:

 

  • The Stock Market Bull: 5 weeks
  • The Stock Market Bear: 3 weeks
  • Mixed Results: 2 weeks

 

Week 10 News Summary:

Coronavirus Pandemic: As of today, Friday, 03/12/21, at 2:23PM Eastern US, the John Hopkins University CSSE unit says there are now 118,860,770 confirmed cases globally with 2,634,979 deaths, an increase from last Friday of 58,900, which is -3,799 from last Friday. For the US it is 29,326,182 confirmed cases and 531,912 deaths, an increase from last Friday of 9,691, which is -2,820 from last Friday, the 5th week in a row of declining death rates. US President Biden announced during the week that 10% of adult Americans have been vaccinated, there are well over 1 million vaccinations occurring each day, and that by May 1 there should be enough COVID-19 vaccine doses from the 3 approved COVID-19 vaccines available for every adult in the US, that by the 4th of July, Independence Day, we may be able to enjoy traditional gatherings. However, COVID-19 variants keep popping up, and there is always the question of if current vaccines are effective against them as well.

US Federal Government: The US Senate approved the $1.9 trillion America Rescue Plan on a party-line vote. It was then sent back to the US House for its approval, which again passed on a party-line vote. President Biden signed the bill into law on Thursday, gave a brief presentation that evening to the public about the positive implications, and will be crossing the US to further extol its positive effects in the coming days. More of President Biden’s nominees for high level positions were approved by the US Senate in bipartisan votes. Some US troops remain in the Washington DC area as a precaution over a possible 2nd insurrection attempt.

US Economy: The weekly initial jobless insurance claims went down a notch, and job openings increased. Mortgage rates went up a little bit. The 12 month Consumer Price Index was +1.7%, which caused a sigh of relief from many economists concerned about inflation. US Treasury bond yields were up again causing some excitement and concern. Federal government outlays continue to be far more than receipts, causing some anxiety about possible longer term effects of increasing government debt. Business and consumer surveys are starting to indicate a more assured optimism about the future. The Federal Open Market Committee meets next week and most think it is unlikely they will change the 0.00-0.25% short-term interest rates. The European Central Bank made no changes to its short-term interest rates.

Corporate Business: More press is coming from corporations announcing resumption of dividend payouts and share buyback programs. Companies are starting to more aggressively advertise open positions, including more hospitality and amusement parks announcing seasonal and part-time hiring. Retailers are becoming more aggressive in offering new lines and upgrading their e-commerce platforms. Manufacturing surveys indicate increasing optimism about the future, especially for electronic vehicles and related businesses, also believing that parts shortages and logistic challenges will somehow be met by American ingenuity. All in all, the future is starting to become more positively viewed by all business sectors.

International News: . There have been some disturbing reports as the Myanmar military continues to kill protestors wanting to reinstate their democratically elected leaders. There were some reported cybersecurity attacks by foreign hackers, including some governments, most notably there has been some fingerpointing at Russia. There were some more kidnapping of students in Africa. There has been a recent significant increase in asylum seekers and unaccompanied children crossing into the US along its southern borders.

Daily Corporate News:

AT&T(PBR11 $T) updates strategy and financial outlook, includes expecting 120-150 million worldwide HBO Max and HBO subscribers by end of 2025, up from the 75-90 million projected in 10/19, to begin deploying the first 40 MHz of the 80 MHz C-band spectrum awarded in a recent US FCC auction by the end of 2021. PR link.

Cardinal Health(PBR14 $CAH) to sell its $750 million in annual revenues cardiovascular device manufacturer Cordis business to Hellman & Friedman for approximately $1 billion, to close by 12/31/21. PR link.

Boeing(PBR55 $BA) gets orders for 24 Boeing 737 MAX airplanes with option to purchase an additional 60 airplanes by private investment firm 777 PartnersPR link.

L Brands(PBR238 $LB) to repay $1.035 billion of debt with $1.1 billion from its cash, authorizes new $500 million share repurchase program, replaces previous authorization which had $79 million remaining. PR link.

Charles Schwab(PBR288 $SCHW) says new brokerage accounts were 1.2 million in February, up over 200% from February 2020 and up 11% compared to January 2021. Article includes hotlink to CFO commentary. PR link.

Blackstone(PBR401 $BX) Real Estate unit completes $3.4 billion acquisition of best‐in‐class, 2.3 million square foot portfolio of lab office buildings, with 90% of the portfolio concentrated in Cambridge, MA, from Brookfield Asset ManagementPR link.

Lumentum(PBR944 $LITE) is notified by Coherent(NASDAQ: COHR) that an unsolicited acquisition proposal from II–VI(NASDAQ: IIVI) to acquire Coherent in a cash & stock transaction constitutes a “Company Superior Proposal,” Lumentum has until 11:59 p.m. Pacific Time on Wednesday, 03/17/21 to amend its transaction agreement or waive matching rights, Coherent would be required to pay a $217.6 million termination fee to Lumentum if Coherent terminates the definitive agreement. PR link.

Cedar Fair(PBR966 $FUN) hiring approximately 45,000 seasonal associates across its 12 US properties during 2021, having a virtual national hiring day on 03/13/21, outlines plans for reopening of parks. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary February 2021 US Producer Price Index Total Monthly Final Demand is at +0.5%, January 2021 was at +1.3%, December 2020 +0.3%, February 2020 -0.5%; the February 2021 US Total Last 12 Months Final Demand(Unadjusted) is at +2.8%, January 2021 was at +1.7%, December 2020 +0.8%, February 2020 +1.1%. PR link.

The U of Michigan Preliminary March 2021 US Consumer Sentiment Index is at 83.0, February 2021 was at 76.8, January 2021 79.0, March 2020 89.1. “Overall, the data indicate strong growth in consumer spending during the year ahead, with the largest percentage gains for services, including travel and restaurants, and the smallest increases for vehicles and homes.” PR link.

***Thursday, March 11

Daily Corporate News:

CVS Health(PBR4 $CVS) now offering COVID-19 vaccines in nearly 1,200 stores in 29 states and Puerto Rico, expanding to additional states as fast as supply allows, with the capacity to administer 20 25 million shots per month. PR link.

Verizon(PBR17 $VZ) sees big demand for its $25 billion debt deal. MarketWatch PR link.

Kroger(PBR20 $KR) Health unit increases COVID-19 vaccination capacity to 1 million doses per week, will use the first hour of pharmacy operations as a focus hour assigned to administering the three FDA-authorized vaccines, to launch in Ohio this week, expand in following weeks, is planning 100 mass vaccination off-site events nationwide. PR link.

T-Mobile(PBR46 $TMUS) outlines its 5G plans, says it is ahead of plan on merger synergy goals and expects total net present value of merger synergies to be more than $70 billion – up more than 60% from the original merger guidance of $43 billion, raises mid- and long-term guidance, setting up potential for up to $60 billion in shareholder returns from 2023 through 2025. PR link.

Goldman Sachs(PBR83 $GS) to invest $10 billion and $100 million in philanthropic support in new initiative One Million Black Women, investment areas to include healthcare, education, housing, and small business. PR link.

Johnson Controls(PBR136 $JCI) authorizes $4 billion share repurchase program increase, adds to the $2.0 billion available, plans to repurchase around $1 billion in fiscal 2021. PR link.

Kohl’s(PBR155 $KSS) announces its first private label, specialty athleisure brand, FLX, in more than 300 Kohl’s stores and online at Kohls.com, for women and men. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM gets exclusive sports betting experience with sports bar chain Buffalo Wild Wings in Colorado, New Jersey, Indiana, Iowa, Tennessee and West Virginia, to be available through an app in the sports bars. PR link.

Molson Coors(PBR292 $TAP) says it experienced a systems outage caused by a cybersecurity incident, working around the clock to get its systems back up as quickly as possible, has caused and may continue to cause a delay or disruption to parts of its brewery operations, production, and shipments. PR link.

Quest Diagnostics(PBR388 $DGX) to do $900 million shares repurchase in 1H21. PR link.

S&P Global(PBR434 $SPGI) acquisition of IHS Market(NYSE: INFO) gets shareholders approval by both companies, all stock transaction values IHS Market at $44 billion, includes $4.8 billion in debt, to close in 2H2021. PR link.

Hillenbrand(PBR812 $HI) completes $103.5 million cash sale of its Abel Pumps unit to IDEX(PBR817)PR link.

Ulta Beauty(PBR399 $ULTA) CEO Mary Dillon to become Executive Chair in 06/21, President Dave Kimbell to become CEO, current Chair Robert DiRomualdo to retire after 3 years and 17 years on the Board. PR link.

Daily Economic News:

The US Federal Reserve says the Preliminary 4Q20 US Networth of Households & Non-Profits is at $130.2 trillion, 3Q20 was at $123.2 trillion, 2Q20 $119.6 trillion, 4Q19 $118.2 trillion. PR link.

The US Dept of Labor says the Preliminary January 2021 US Job Openings-Public is at 6,236,000, Government 681,000, to make January 2021 US Total Job Openings at 6,917,000, December 2020 was at 6,753,000, November 2020 6,572,000, January 2020 7,155,000. PR link.

The US Federal Housing Finance Agency (FHFA) announces that Fannie Mae and Freddie Mac will extend temporary loan origination flexibilities from 03/31/21 to until 04/30/21. PR link.

FreddieMac releases its “Refinance Trends in 2020,” says, “While the economy was in recession, record low mortgage interest rates contributed to refinance activity reaching near record highs.” PR link.

***Wednesday, March 10

Daily Corporate News:

Apple(PBR3 $AAPL) to make Munich, Germany, its European Silicon Design Center, to focus on 5G and future wireless technologies, adding hundreds of new employees and a new state-of-the-art facility, to invest over $1 billion Euros($1.2 billion). PR link.

Verizon(PBR17 $VZ) says it succeeded in more than doubling its existing mid-band spectrum holdings by adding an average of 161 MHz of C-Band nationwide for $52.9 billion in the recent US FCC C-Band auction, outlines plans for continuing rollout of 5G and beyond. PR link.

Johnson & Johnson(PBR33 $JNJ) to receive an order for 100 million COVID-19 vaccines from the US government per statement by US President Biden, giving the US more than enough supply to vaccinate the entire US population. NBCNews PR link.

GE(PBR35 $GE) to combine its GE Capital Aviation Services leasing business (“GECAS”) with AerCap Holdings NV, will receive $30+ billion, including $24 billion in cash plus 46% ownership in new company and $1 billion paid in AerCap notes and/or cash upon closing, GE to reduce its debt by $30 billion after close of transaction, to close in 9-12 months. PR link.

GE(PBR35 $GE) at annual meeting in 05/21 to vote on 8:1 reverse stock split. PR link.

Target(PBR36 $TGT) partnering with 600+ CVS(PBR4 $CVS) locations within Target stores to offer COVID-19 vaccines to eligible guests and team members. PR link.

T-Mobile(PBR46 $TMUS) comments about its $9.3+ billion investment in the FCC’s C-Band auction, selectively acquiring additional mid-band spectrum it will use to take America’s largest and fastest 5G network to the next level. PR link.

Walt Disney(PBR51 $DIS)’s ESPN sports unit gets 7 year deal with the NHL, returning hockey to ESPN for the first time since 2004. PR link.

Oracle(PBR74 $ORCL) authorized the repurchase of up to an additional $20.0 billion of common stock under its existing share repurchase program in future quarters. PR link.

ConocoPhillips(PBR82 $COP) resumes its share repurchase program at an annualized level of $1.5 billion, a 50% increase compared to the level of repurchases underway in 4Q20 when the program was suspended due to the Concho acquisition. PR link.

American Airlines(PBR177 $AAL) upsizes AAdvantage Financing To $10.0 Billion and pricing of senior secured notes, proceeds to be used to pay off federal government loan and for general corporate purposes. PR link.

AMC Entertainment(PBR503 $AMC) in 4Q20 report says it had around 8 million patrons in 4Q20, as if 03/05/21, was operating approximately 527 of its 589 domestic locations, and approximately 78 of its 356 international locations. PR link.

Express(PBR890 $EXPR) is finalizing a strategy that will grow its digital channel to $1.0 billion in 2024. PR link.

Lumentum(PBR944 $LITE) to acquire global provider of lasers and laser-based technology for scientific, commercial and industrial customers Coherent(NASDAQ: COHR) for $261.62/share in cash and stock, around $6.6 billion, at closing Coherent stockholders to own approximately 24% percent of the combined company, to close in 2H21. PR link.

Daily Economic News:

The US Dept of the Treasury says the February 2021 US Federal Government Receipts is at $248.3 billion, Outlays $559.2 billion, to make February 2021 Deficit at $310.9 billion, January 2021 Deficit was at $162.8 billion, December 2020 Deficit $143.6 billion, February 2020 $235.3 billion; February 2021 YTD Deficit(5 Months) is at $1,046.7 billion, February 2020 YTD Deficit was at $624.5 billion. PR link.

The US Dept of Labor says the February 2021 US Change in Monthly Consumer Price Index-Urban is +0.4%, the February 2021 Last 12 Months(Unadjusted) is at +1.7%, January 2021 was at +1.4%, December 2020 +1.4%, February 2020 +2.3%. PR link.

The US Dept of Labor says the Preliminary February 2021 US Current Averaging Earnings Per Hour is at $30.01, Average Number of Hours Worked Per Week is at 34.6, for February 2021 US Average Earnings Per Week at $1,038.35, January 2021 was at $1,044.91, December 2020 $1,037.88, February 2020 $980.74. PR link.

***Tuesday, March 9

Daily Corporate News:

Walgreens(PBR16 $WBA) has provided approximately 5 million COVID-19 vaccinations across long-term care facilities, in stores and through dedicated clinics, is receiving approximately 1 million COVID-19 vaccine doses from Johnson & Johnson, Moderna and Pfizer this week as part of the Federal Retail Pharmacy ProgramPR link.

Chevron(PBR27 $CVX) says it has exceeded its 2023 upstream carbon intensity reduction targets 3 years ahead of schedule and announces lower 2028 targets and zero routine flaring by 2030. PR link.

Target(PBR36 $TGT) launches new brand, Favorite Day, will feature more than 700 items across bakery, snacks, candy, premium ice cream, cake decorating supplies, beverage mixers, mocktails and more, to begin rolling out on 04/05/21. PR link.

Walt Disney(PBR49 $DIS) says it now has 100+ million global subscribers to its Disney+ streaming service, launched in the US on 11/12/19. PR link.

Albertsons(PBR54 $ACI) says 1+ million doses of COVID-19 vaccine have been administered to Americans nationwide through its pharmacy teams. PR link.

Penske Automotive(PBR130 $PAG) has adopted CarShop as its global brand for its used vehicle SuperCenters, by end of 2023 its goal is to expand CarShop from 17 international locations to 40, grow annual unit sales to 150,000, and increase revenue to $2.5 to $3.0 billion. PR link.

Assurant(PBR306 $AIZ) to sell its prearranged funeral insurance and final expense business, Global Preneed, and related legal entities and assets to CUNA Mutual Group, a broad financial services provider, for approximately $1.3 billion in cash, 75% of net proceeds to be used for share repurchases. PR link.

Daily Economic News:

CoreLogic says the December 2020 US Housing Mortgages 30 or More Days Delinquent is at 5.8%, November 2020 was at 5.9%, October 2020 6.1%, December 2019 3.7%. “Places with large job losses during the last year also experienced big jumps in mortgage delinquencies. By state, Hawaii and Nevada had the largest 12-month spike in delinquency rates, both up 4.1 percentage points. They also had large increases in unemployment rates, up 6.6 percentage points in Hawaii and 5.5 percentage points in Nevada compared with 3.1 percentage points for the U.S.” PR link.

***Monday, March 8

Daily Corporate News:

Eli Lilly(PBR138 $LLY) and Biolojic Design, a biotechnology company that computationally designs functional antibodies, to do a research collaboration and license agreement, will leverage Biolojic’s AI-based multibody platform to discover and develop a potential novel antibody-based therapy for treating diabetes, LLY will pay research fees associated with the collaboration, Biolojic to receive up to a total of $121 million for milestone achievements. PR link.

DuPont(PBR144 $DD) to acquire Laird Performance Materials, provider of high-performance electromagnetic shielding and thermal management with performance components and solutions that manage heat and protect devices from electromagnetic interference, with 4,300 employees and 2020 revenues of $465 million, from private equity firm Advent International, for $2.3 billion cash, to close in 3Q21. PR link.

DuPont(PBR144 $DD) authorizes new $1.5 billion share buyback program, expires 06/30/22, around $1 billion remaining on previous authorization, expects to complete by 06/01/21. PR link.

PayPal(PBR173 $PYPL) to acquire Tel Aviv, Israel based Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets, to close in 1H21, terms not disclosed. PR link.

Ross Stores(PBR198 $ROST) to add approximately 60 new stores – 40 Ross and 20 dd’s DISCOUNTS locations in fiscal 2021, over the long-term think Ross can grow to 2,400 locations and dd’s DISCOUNTS a chain of 600 stores. PR link.

DISH(PBR245 $DISH) to acquire Republic Wireless, an MVNO service operating on the T-Mobile network with 200,000 customers, to close in 2Q21, terms not disclosed. PR link.

Baxter(PBR273 $BAX) BioPharma Solutions unit to provide fill/finish sterile manufacturing services and supply packaging at its Bloomington, IN, campus for approximately 60-90 million doses of the Moderna COVID-19 Vaccine in 2021. PR link.

Camping World(PBR541 $CWH) continues march towards a national recreational dealer platform with acquisition of sites in Georgetown, DE; Lincoln, NE; and Billings, MT markets, will be first locations in those states, part of plan to acquire dealers or build its own facilities. PR link.

Laureate Education(PBR702 $LAUR) completes transfer control of Fundaempresa, which manages Laureate’s operations in Honduras – Universidad Tecnológica Centroamericana (UNITEC), including the operation of Centro Universitario Tecnológico (CEUTEC), with total student enrollment of around 23,000, to not-for-profit Fundación NasserPR link.

Apollo Global Mgmt(PBR755 $APO) to acquire Athene (NYSE: ATH), a retirement services company with total assets of $202.8 billion as of 12/31/20, in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene, Apollo to also proceed with conversion to simplified structure, with single class of voting stock and equal voting rights for each share, to close in 01/22. PR link.

McAfee(PBR804 $MCFE) to sell its cybersecurity Enterprise business to a consortium led by Symphony Technology Group (STG) for $4.0 billion cash, to close by 12/31/21, McAfee to retain its name, focus on its consumer cybersecurity business. PR link.

FirstEnergy(PBR282 $FE) President/Acting CEO Steven E. Strah has been named President/CEO and a member of the Board, effective immediately. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary January 2021 US Wholesale Sales-Durables is at $258.4 billion, Non-Durables $269.7 billion, for January 2021 US Total Wholesale Sales at $661.7 billion, December 2020 was at $653.2 billion, November 2020 $649.5 billion, January 2020 $658.1 billion. PR link.

FannieMae says the February 2021 US Home Purchase Sentiment Index is at 76.5, January 2021 was at 77.7, December 2020 74.0, February 2020 92.5. “As we expected, the HPSI remained relatively flat in February, but underlying data indicate growing job-related optimism among consumers, especially among lower-income and renter groups… With the growing likelihood that lockdown restrictions will continue easing as vaccination efforts ramp up, and with warmer weather on the horizon and another round of fiscal stimulus pending, these two segments of consumers may have good reason to feel more positive about the labor market.” PR link.

***Friday, March 5

The US Stock Exchanges Recap for Week 9 of 2021 ending 03/05/21:

DJIA ends Week 9 at 31,496.30, +1.82% from last Friday/MTD, +2.91% QTD/YTD, -1.46% from record 31,961.86 set 02/24/21.

NASDAQ ends Week 9 at 12,920.15, -2.06% from last Friday/MTD, +0.25% QTD/YTD, -8.34% from record 14,095.47 set 02/12/21.

SPX ends Week 9 at 3,841.94, +0.81% from last Friday/MTD, +2.29% QTD/YTD, -2.36% from record 3,934.83 set 02/12/21.

US Stock Exchanges Week 9 of 2021 News Summary:

On Monday The Stock Market Bull charged onto the pasture with great determination and achieved great success. The Stock Market Bear, in an intentional distraction move, told the Bull that he needed to schedule his COVID-19 vaccine shots. The strategy worked to perfection, giving The Stock Market Bear his opportunity to viciously attack, especially the NASDAQ, which he did over the next 3 days, resulting in a big tech sell-off. But The Stock Market Bull did finally get his 1st shot scheduled and when he returned to the pasture was enraged at the deception and savagery of The Stock Market Bear, trampled him without mercy, and took Friday overwhelmingly. It was not enough, however, to recapture the NASDAQ, so Week 9 ends with The Stock Market Bull having a 2-1 mixed result. With all the volatility of the past 2 weeks it will be interesting to see what strategies work out for Week 10.

The Week 9 of 2021 tally YTD is:

 

  • The Stock Market Bull: 4 weeks
  • The Stock Market Bear: 3 weeks
  • Mixed Results: 2 weeks

 

Week 9 News Summary:

Coronavirus Pandemic: As of today, Friday, 03/05/21, at 2:25PM Eastern US, the John Hopkins University CSSE unit says there are now 115,913,859 confirmed cases globally with 2,576,079 deaths, an increase from last Friday of 62,699, which is -182 from last Friday. For the US it is 28,873,800 confirmed cases and 522,221 deaths, an increase from last Friday of 112,511, which is -1,693 from last Friday, the 4th week in a row of declining death rates. With the addition of the US FDA Emergency Use Authorization of the Johnson & Johnson COVID-19 single shot vaccine last weekend the US now has 3 approved vaccines, production continues to ramp up, logistical systems running more smoothly and vaccinations are well over 1 million per day. President Biden announced that there will be enough vaccine doses for every US adult by the end of May. Controversially, the governor of Texas announced there are no longer any restrictions now, but strongly recommended people follow suggested guidelines by health professionals. A few other states are doing the same, while the vast majority are keeping restrictions in place for now.

US Federal Government: The US House passed its $1.9 trillion stimulus package and is now being worked on in the US Senate where it appears the Democrats slim edge in power can be used to leverage the some of the rules to pass the legislation without any Republican votes. President Biden has said he would sign it. The US House also passed a Voting Rights measure, which is also now headed to the US Senate. Presidential nominee’s for high level positions continue to advance, with only one person withdrawing from the process so far. A possible 2nd attempt at an insurrection with an attack on the Capital Building on March 4th was apparently thwarted.

US Economy: The ADP monthly employment report for February indicated much lower employment growth by the private sector than expected, but the US Dept of Labor Employment report for January released on Friday greatly exceeded expectations. The Federal Reserve Beige Book was released and indicated modest economic growth. The Congressional Budget Office released a report indicating that the US national debt continues to rise and will continue to do so for years to come, also increasing as a percent of gross domestic product. US trade also showed an increasing deficit. Treasury yields were up significantly for the week, signaling some concerns about inflation. However, Fed Reserve Chairman Powell indicated that it should not be a concern at this time. Manufacturing surveys and reports continue to show growth in that sector. Consumer debt did not increase as much as had been expected, with the reason given that many have used the stimulus checks to reduce credit card debt. Mortgage rates for a 30 year fixed rose to just above 3%.

Corporate Business: More corporations are resuming dividend payouts and share buyback programs. Some of the larger retailers are starting to more aggressively add products and services and use e-commerce to drive sales. Manufacturing continues to grow. There are a lot of opinions that say once the COVID-19 pandemic has passed there will be significant growth in all business sectors.

International News: . There continue to be some growing tensions with Iran and their activities in Syria. Also, Iran has stated that it will not negotiate directly with the US on its nuclear capabilities. The US has placed sanctions on some Russia officials over the way it is dealing with Putin adversary Navalny. Myanmar continues to experience unrest over the military’s overturn of the democratically elected government and military forces killed some people at a protest. Pope Francis is in Iraq trying to encourage Muslims and Christians to get along. The UK and Europe are experiencing some of the results of the Brexit deal with food shortages occurring in Northern Ireland. President Biden needs to address the arrangement the US made with the Taliban in Afghanistan, and decide whether or not to withdraw all US troops by May 1 per the agreement.

Daily Corporate News:

Chevron(PBR26 $CVX) to acquire all (33.925 million) of the publicly held common units representing the limited partner interests in Noble Midstream Partners, LP (NASDAQ: NBLX) not already owned by Chevron, each outstanding unitholder of Noble Midstream would receive 0.1393 of a share of common stock of Chevron in exchange for each Common Unit owned, to close in 2Q21. PR link.

Gilead Sciences(PBR133 $GILD) gets US FDA accelerated approval for Yescarta® (axicabtagene ciloleucel) for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapy. PR link.

Nielsen(PBR444 $NLSN) completes $2.7 billion sale of its consumer packaged goods manufacturers and retailers data and insights provider Nielsen Global Connect business to private equity firm Advent International in partnership with James “Jim” Peck, former TransUnion CEO. PR link.

Norwegian Cruise Lines(PBR447 $NCLH) prices its underwritten public offering of 47,577,947 ordinary shares to the public for $30.00 per share, expects offering to close on 03/09/21. PR link.

Sprouts(PBR482 $SFM) to open 20 new stores in 2021, to be located in California, Florida and Texas, includes four with a new, smaller format. PR link.

Navient(PBR496 $NAVI) violated the Consumer Protection Act by engaging in unfair and deceptive conduct related to Washingtonians’ student loans, according to a King County Superior Court Judge, says Navient’s statements promoting co-signer release misrepresented the way Navient actually implemented the program, other claims to be addressed on 04/18/22 court date. State of Washington AG Office PR link.

Daily Economic News:

The US Dept of Labor says the February 2021 US Employment is at 150,239,000, +208,000 from January 2021, -8,493,000 from February 2020; February 2021 US Unemployed is at 9,972,000, -158,000 from January 2021, +4,256,000 from February 2020; February 2021 US Unemployment Rate is at 6.2%, January 2021 was at 6.3%, February 2020 3.5%. PR link.

The US Dept of Commerce/Census says the January 2021 US Exports-Goods is at $135.7 billion, Services $56.3 billion, January 2021 US Total Exports is $192.0 billion/January 2021 US Imports-Goods is at $221.1 billion, Services $39.0 billion, January 2021 US Total Imports is at $260.1 billionJanuary 2021 US Total Deficit is $68.1 billion, December 2020 Deficit was at $67.0 billion, November 2020 Deficit $69.1 billion, January 2020 Deficit $44.4 billion. PR link.

The US Federal Reserve says the Preliminary January 2021 US Consumer Credit Outstanding-Revolving is at $965.1 billion, Non-Revolving $3,211.7 billion, for January 2021 US Total Consumer Credit Outstanding at $4,176.8 billion, December 2020 was at $4,178.1 billion, November 2020 $4,169.3 billion, January 2020 $4,201.5 billion. PR link.

***Thursday, March 4

Daily Corporate News:

Amazon(PBR2 $AMZN) opens its first physical store outside the US in the UK, the London store uses weight sensors to detect what customers pick up and bills their card automatically. Yahoo PR link.

ViacomCBS(PBR103 $VIAC) launches its Paramount+ streaming service, offers 2 tiers, premium at $9.99/mo, an ad supported tier at $4.99/mo. PR link.

Amgen(PBR129 $AMGN) to acquire developer of immuno-oncology and targeted cancer therapies Five Prime Therapeutics(NASDAQ: FPRX) for $38.00/share cash, representing an equity value of approximately $1.9 billion, to close by end of 2Q21. PR link.

Penske Automotive(PBR130 $PAG) to acquire Kansas City Freightliner, a retailer of medium and heavy-duty commercial trucks, expected to generate $450 million in annualized revenue, to close in 2Q21, terms not disclosed. PR link.

Gilead Sciences(PBR133 $GILD) completes around $1.29 billion cash, plus up to around $335 million for milestone achievements acquisition of MYR GmbH, a German biotechnology company focused on the development and commercialization of therapeutics for the treatment of chronic hepatitis delta virus (HDV). PR link.

Marriott Intl(PBR151 $MAR) to provide 4 hours equivalent pay for associates participating in its COVID-19 Vaccination Care Program. PR link.

Biogen(PBR219 $BIIB) to build a 175,000 sf gene therapy manufacturing facility at its Research Triangle Park manufacturing campuses in N Carolina, will create around 90 new jobs, around a $200 million investment. PR link.

Sprouts(PBR482 $SFM) authorizes a new share repurchase program for $300 million. PR link.

Square(PBR562 $SQ) to acquire a majority ownership stake in TIDAL, the global music and entertainment platform, for $297 million cash and stock, will operate independently within Square, Shawn “JAY-Z” Carter will be joining Square board at close of transaction, to close in 2Q21. PR link.

Old Dominion Freight Line(PBR616 $ODFL) anticipates hiring 800 Class A Commercial Driver’s License (CDL) truck drivers over the next 3 months, more than 1,200 jobs are currently open, including drivers, dock workers, and clerical positions, in response to a strong economic recovery with robust freight demand, tighter capacity. PR link.

Adtalem Education(PBR999 $ATGE)’s Chamberlain University opening its Irwindale campus in order to expand access to nursing education and better address projected nationwide nursing shortage of nearly half a million nurses by 2030. PR link.

Daily Economic News:

The US Congressional Budget Office publishes The 2021 Long-Term Budget Outlook, says at an estimated 10.3% of gross domestic product (GDP), the deficit in 2021 would be the second largest since 1945, exceeded only by the 14.9% shortfall recorded last year, forecasts national debt to almost double to 202% of GDP by 2051PR link.

The US Dept of Commerce/Census says the Preliminary January 2021 US Manufacturers New Orders-Durables is at $256.7 billion, Non-Durables $252.7 billion, for January 2021 Manufacturers Total New Orders $509.4 billion, December 2020 was at $496.3 billion, November 2020 $488.3 billion, January 2020 $497.5 billion. PR link.

The US Dept of Labor says the Revised 4Q20 US Business Sector Labor Productivity Output/Hour Annual Rate is at -4.9%, 3Q20 was at +5.5%, 2Q20 +10.1%, 1Q20 -0.4%, the 2020 Annual Rate is +2.5%PR link.

The US Federal Housing Finance Agency announces that Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through 06/30/21, subject to the continued tenant protections FHFA has imposed during the pandemic, programs were set to expire 03/31/21. PR link.

MasterCard SpendingPulse says US February 2021 retail sales excluding automotive and gasoline increased 4.6% year-over-year when adjusted for Leap Year, online sales grew 54.7% compared to 2020. PR link.

***Wednesday, March 3

Daily Corporate News:

Walmart(PBR1) over next ten years will spend an additional $350 billion on items made, grown or assembled in the US, estimates it will support more than 750,000 new American jobs, has identified six priority categories to focus on: plastics; textiles; small electrical appliances; food processing; pharmaceutical and medical supplies; and Goods Not For Resale (GNFR). PR link.

ExxonMobil(PBR10) outlines plans through 2025 to increase earnings and cash flow to sustain and grow its dividend, reduce debt and fund advantaged projects, while working to commercialize lower emission technologies in support of the goals of the Paris Agreement. PR link.

Lowe’s(PBR41) says all stores in the US and Canada will be closed on Easter Sunday, 04/04/21, to showits appreciation for more than 300,000 associates’ continued dedication. PR link.

FedEx(PBR47) to invest $2 billion in its commitment to be carbon neutral by 2040, includes entire pickup and delivery (PUD) fleet will be electric vehicles by 2040, half of its FedEx Express PUD purchases will be EVs by 2025, rising to 100% by 2030. PR link.

Pfizer(PBR63) gets US FDA approval for supplemental New Drug Application (sNDA) for LORBRENA® (lorlatinib), expanding the indication to include first-line treatment of people with anaplastic lymphoma kinase (ALK)-positive non-small cell lung cancer (NSCLC). PR link.

Dollar Tree(PBR125) in 4Q20 report says it has authorized an increase of $2.0 billion for the share repurchase program, plans to open 400 new Dollar Tree stores, 200 Family Dollar stores and to renovate 1,250 Family Dollar stores. PR link.

CarMax(PBR155) providing bonuses to over 80% of its associates, $500 for fulltime associates, $250 for part-time associates employed by 03/01/20, prorated for associated hired after, 22,000 associates are eligible. PR link.

Las Vegas Sands(PBR225) to sell its Las Vegas properties, The Venetian and the Sands Expo and Convention Center, to Apollo Global Mgmt(PB755) and VICI Properties for around $6.25 billion, will focus on its Asian properties. PR link.

Jacobs Engineering(PBR229) completes acquisition of a 65% majority stake in UK based PA Consulting for enterprise value of $2.5 billion, remaining 35% to be owned by PA employees, PA has over 3,200 specialists globally in defence and security, consumer and manufacturing, government, health and life sciences, transport, energy and utilities, and financial services. PR link.

DISH(PBR244) and DraftKings(NASDAQ: DKNG) announce strategic agreement across DISH’s portfolio of brands to bring DraftKings’ sportsbook and daily fantasy experiences directly to DISH customers nationwide, beginning with a first-of-its-kind DraftKings app integration on the DISH TV Hopper platform, also allows for future DraftKings sportsbook and daily fantasy experiences with DISH Network’s SLING TV and Boost Mobile. PR link.

Bed Bath & Beyond(PBR275) announces the biggest change in its product assortment in a generation, plans to launch at least eight new Owned Brands in fiscal 2021, with six of these being launched sequentially in the first six months of the fiscal year, part of its 3 year transformation plan. PR link.

Boston Scientific(PBR288) to acquire the $200 million in annual revenues global surgical business of Israel based Lumenis LTD, a privately-held company that develops and commercializes energy-based medical solutions, for an upfront cash payment of $1.07 billion, to close in 2H21. PR link.

Ralph Lauren(PBR459) introduces ‘The Lauren Look,’ its first subscription apparel rental initiative, with the Lauren Ralph Lauren brand. PR link.

Michael’s Cos(PBR518) to be acquired by Apollo Global Mgmt(PBR755) for $22.00/share, transaction value of around $5.0 billion, today starts 25 calendar days go-shop period for alternative proposals, to close by 04/30/21. PR link.

Coty(PBR561) to partnerwith LanzaTech to introduce sustainable ethanol made from captured-carbon emissions into its fragrance products with goal of having the majority of its fragrance portfolio using ethanol sourced from carbon-capture by 2023. PR link.

Dycom(PBR686) authorizes a new $150 million share repurchase program, expires in 18 months. PR link.

Zynga(PBR980) has acquired Echtra Games, a cross-platform game studio composed of a development team whose core members have previously shaped the world of action role-playing games through their work on genre-defining titles including Diablo, Diablo II, the Torchlight franchise and more, terms not disclosed. PR link.

Alleghany Corp(PBR338) President/CEO Weston M. Hicks to retire at end of 2021, EVP Joseph P. Brandon to become President on 04/23/21, CEO and a director upon Hicks’ retirement. PR link.

Daily Economic News:

The US Federal Reserve releases the Beige Book for data collected through 02/22/21, says, “Economic activity expanded modestly from January to mid-February for most Federal Reserve Districts. Most businesses remain optimistic regarding the next 6-12 months as COVID-19 vaccines become more widely distributed… ” PR link.

ADP says the Preliminary February 2021 US Private Sector Change in Employment-Small Businesses(1-49 Employees) is at +32,000, Mid-Sized(50-499) +57,000, Large(500 or more) +28,000; Goods Producing Sector is -14,000, Services Sector +131,000; Total February 2021 Change in Employment is +117,000, January 2021 was at +195,000, December 2020 -75,000, February 2020 +199,000. “The labor market continues to post a sluggish recovery across the board… We’re seeing large-sized companies increasingly feeling the effects of COVID-19, while job growth in the goods producing sector pauses. With the pandemic still in the driver’s seat, the service sector remains well below its pre-pandemic levels; however, this sector is one that will likely benefit the most over time with reopenings and increased consumer confidence.” PR link.

The Institute for Supply Management says the February 2021 US Services PMI Index(>50 economy is growing) is at 55.3%, January 2021 was at 58.7%, December 2020 57.7%, February 2020 57.9%. “This reading indicates the ninth straight month of growth for the services sector, which has expanded for all but two of the last 133 months.” PR link.

IHS Markit says the February 2021 US Composite PMI Output Index is at 59.5, January 2021 was at 58.7, December 2020 55.3, February 2020 49.6. “Contributing to the overall rise in activity was a stronger rise in new business. Private sector new order growth was the fastest since April 2018. Despite a renewed contraction in service sector foreign client demand, an expansion in manufacturing export orders led to another modest upturn in overall new business from abroad… ” PR link.

***Tuesday, March 2

Daily Corporate News:

ExxonMobil(PBR10 $XOM) to reduce its 4,000 staff in Singapore by 300 in 2021, an impact of the COVID-19 pandemic. PR link.

Target(PBR35 $TGT) plans to invest approximately $4 billion annually during the next several years to continue scaling capabilities across its retail platform, will accelerate new store openings and store remodels, enhance fulfillment services and strengthen its supply chain. PR link.

Merck(PBE68 $MRK) has multiple agreements to expand manufacturing capacity and supply of SARS-CoV-2/COVID-19 medicines and vaccines, to get up to $268.8 million fro US Dept of Health & Human Services to adapt and make available a number of existing manufacturing facilities for the production of SARS-CoV-2/COVID-19 vaccines and medicines, has an agreement with Johnson & Johnson(PBR34 $JNJ) to manufacture its COVID-19 vaccine. PR link.

Kohl’s(PBR158 $KISS) in 4Q20 report says it is resuming share buybacks, anticipates $200-$300 million in 2021, says it has 65 million active customers, 30 million loyalty customers, 29 million Kohl’s charge card holders, expects mid-teens revenue increase in 2021. PR link.

American Electric Power(PBR199 $AEP), Dominion Energy(PBR193 $D), Duke Energy(PBR116 $DUK), Entergy Corp(PBR285 $ETR), Southern Co(PBR146 $SO) and the Tennessee Valley Authority, members of the Electric Highway Coalition, announce a plan to enable electronic vehicle(EV) drivers seamless travel across major regions of the US through a network of DC fast chargers for EVs for an estimated 18 million EVs by 2030. PR link.

Lithia Motors(PBR245 $LAD) has acquired the Fink Auto Group with five locations in the greater Tampa, FL market, is expected to add $430 million in annualized revenue, includes Hyundai of New Port Richey, the largest-volume Hyundai location in the US eight years in a row. PR link.

eBay(PBR287 $EBAY) receives acceptable proposed remedies from the UK Competition and Markets Authority(CMA)‘s concerns about its $9.2 billion cash & stock sale of its Classifieds business to Norway based Adevinta(OSLO: ADE), now plans to complete transaction in 2Q21. PR link.

Hertz(PBR313 $HTZGQ) files Plan for Reorganization with US Bankruptcy Court, contemplates that Knighthead Capital Management and Certares Opportunities will serve as the Plan Sponsors and will commit to invest up to $4.2 billion to purchase up to 100% (but not less than a majority) of the common stock of the reorganized Hertz, plan is to emerge from Chapter 11 in early to mid summer, hearing scheduled for 04/16/21. PR link.

Navistar(PBR395 $NAV) stockholders approve TRATON‘s proposal to acquire Navistar for $44.50 cash, to close in mid 2021. PR link.

Polaris Industries(PBR428 $PII) announces its 2022 snowmobile lineup, 22 new models on its rider-first, Matryx platform. PR link.

Agilent Technologies(PBR512 $A) to acquire Kirkland, WA, developer of next-generation sequencing (NGS)-based precision oncology solutions Resolution Bioscience for $550 million cash plus up to $145 million for milestone achievements, expects $50-55 million in revenues in 2021, to close in 04/21. PR link.

Camping World(PBR539 $CWH) to acquire EZ Living RV in Braidwood, IL, will be CWH 6th location in Illinois, to close in 03/21. PR link.

TreeHouse Foods(PBR602 $THS) announces agreement with JANA Partners, which owns approximately 7.4% of common stock, temporarily expands Board to 14 members, appoints two new independent directors: John P. Gainor Jr. and Kenneth I. Tuchman, expects to have 11 Board members after 2021 annual meeting. PR link.

Abercrombie & Fitch(PBR656 $ANF) in 4Q20 report says it has replaced existing share repurchase program that had a balance remaining of 3.2 million shares with a new authorization for 10 million shares available. PR link.

Palo Alto Networks(PBR679 $PANW) completes $156 million acquisition of Bridgecrew, a developer-first cloud security company. PR link.

Chico’s FAS(PBR889 $CHS) in 4Q20 report says it plans to push digital channel, anticipates closing approximately 13% to 16% of its remaining store fleet over the next three fiscal years, with approximately 40 to 45 of these closures occurring in fiscal 2021, the vast majority are expected to be mall-based Chico’s and White House Black Market stores. PR link.

WestRock(PBR175 $WRK) President/CEO/Board member Steven C. Voorhees to step down from on roles for health reasons on 03/15/21, hires David B. Sewell to be successor at that time. PR link.

Daily Economic News:

The PurdueU/CME Group February 2021 US Ag Economy Barometer Composite Index is at 165, January 2021 was at 167, December 2020 174, February 2020 168. “Relative to last fall, producers appear to be less confident about future growth in agricultural trade and are concerned about possible shifts in environmental and tax policy that could negatively impact the farm sector, leading them to be less confident about future conditions in the farm sector.” PR link.

***Monday, March 1

Daily Corporate News:

Walmart(PBR1 $WMT) drops its $35 minimum order requirement for Express Delivery, Express Delivery charge remains $10. PR link.

Berkshire Hathaway(PBR6 $BRK.B) shareholders get annual letter from Chairman Warren Buffett, mentions his $11 billion mistake, comments on BH’s version of being a conglomerate, repurchasing around 5% of BH’s stock for $24.7 billion in 2020, and much more. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit gets US FDA Emergency Use Authorization for its single-dose COVID-19 vaccine, to prevent COVID-19 in individuals 18 years of age and older, expects to deliver enough single-shot vaccines by the end of March to enable the full vaccination of more than 20 million people in the US, plans to deliver 100 million single-shot vaccines to the US during 1H21. PR link.

Cisco(PBR66 $CSCO) completes $115/share, around $4.3 billion cash acquisition of designer and manufacturer of high-speed, optical interconnect technologies Acacia CommunicationsPR link.

Nordstrom(PBR200 $JWN) in partnership with smart home gym and personal trainer provider Tonal to provide a 50 sf concept where visitors can experience a full Tonal demo and try a workout firsthand, to be in 40 stores in 20 states starting in March. PR link.

Royal Caribbean(PBR283 $RCL) offering $1,500,000,000 of its common stock to the public. PR link.

Genworth Financial(PBR371 $GNW) sells its interest Genworth Mortgage Insurance Australia for $247 million. PR link.

L3Harris Technologies(PBR426 $LHX) to sell its $500 million in annual revenues Military Training business to CAE for $1.05 billion and its $230 million in annual revenues Combat Propulsion Systems and related businesses to RENK AG for $400 million, both to close in 2H21. PR link.

Apache Corp(PBR448 $APA) completes its restructuring as a holding company, now APA Corporation, retains ticker NASDAQ: APA, Apache Corporation now a direct, wholly-owned subsidiary. PR link.

Perrigo(PBR547 $PRGO) to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners for total consideration of $1.55 billion, includes up to $50 million for milestone achievements, to close in 3Q21. PR link.

KKR(PBR608 $KKR) completes acquisition of 65% stake in Seiyu, a nationwide supermarket chain in Japan with more than 300 retail units, Japan based technology company Rakuten acquires 20%, and Walmart(PBR1 $WMT) retains 15% ownership, values Seiyu at around $1.6 billion. PR link.

Maximus(PBR674 $MMS) completes acquisition of the Federal division of privately held Attain for $430 million, provides artificial intelligence and machine learning to support the mission-critical objectives of numerous federal agencies. PR link.

Roku(PBR992 $ROKU) to acquire Nielsen(PBR444 $NLSN)’s Advanced Video Advertising (AVA) business, which includes Nielsen’s video automatic content recognition (ACR) and dynamic ad insertion (DAI) technologies, Nielsen and Roku will also enter into a strategic partnership to integrate complementary Nielsen ad and content measurement products into the Roku platform and further advance Nielsen ONE, the company’s cross-media measurement solution. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary January 2021 US Total Construction Spending-Residential is at $722.4 billion, Non-Residential $799.1 billion, January 2021 US Total Construction Spending is at $1,521.5 billion, December 2020 was t $1,496.5 billion, November 2020 $1,479.6 billion, January 2020 $1,437.7 billion. PR link.

The Institute for Supply Management says the February 2021 US Manufacturing PMI Index(>50 economy expanding) is at 60.8%, January 2021 was at 58.7%, December 2020 60.5%, February 2020 50.1%. “Manufacturing performed well for the ninth straight month, with demand, consumption and inputs registering strong growth compared to January. Labor-market difficulties at panelists’ companies and their suppliers continued to restrict manufacturing-economy expansion and will remain the primary headwind to production growth until employment levels and factory operations can return to normal across the entire supply chain…” PR link.

IHS Markit says the February 2021 US Manufacturing PMI Index is at 58.6, January 2021 was at 59.2, December 2020 57.1, February 2020 50.7. “Another month of strong production growth suggests that the US manufacturing sector is close to fully recovering the output lost to the pandemic last year, and a renewed surge in optimism suggests the recovery has much further to run…” PR link.

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The PBR1000 February 2021 Breaking News Recap

The PBR1000 for February: A Roller Coaster Month?

PBR1000 Recap News

A global pandemic that won’t go away, economies worldwide struggling, a new administration in the US with a different, or in some cases back to a previous direction, a 50/50 split in the Senate, delayed stimulus assistance, racial injustice, wealth and gender inequalities, all make for a month, or perhaps the whole year, one of unpredictable ups and downs, twists and turns. Buckle up, get ready to raise your hands high and scream as loud as you can as we ride a roller coaster in a world of uncertainties.

The February 2021 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, February 26

The US Stock Exchanges Recap for February and Week 8 of 2021 ending 02/26/21:

DJIA ends Week 8 at 30,932.37, -1.78% from last Friday, +3.17% MTD, +1.06% QTD/YTD, -3.22% from record 31,961.86 set 02/24/21.

NASDAQ ends Week 8 at 13,192.35, -4.92% from last Friday, +0.93% MTD, +2.36% QTD/YTD, -6.41% from record 14,095.47 set 02/12/21.

SPX ends Week 8 at 3,811.15, -2.45% from last Friday, +2.61% MTD, +1.47% QTD/YTD, -3.14% from record 3,934.83 set 02/12/21.

US Stock Exchanges Week 8 of 2021 News Summary:

The Stock Market Bull was smarting from his lackluster showing in Week 7 and tried to take charge of the pasture, even achieving a new record on Wednesday on the DJIA. But The Stock Market Bear started Week 8 focused on the tech sector, viciously taking down the NASDAQ on Monday. By Friday his lust for more blood expanded into the DJIA ripping it for an over 1,000 point loss the last two days of the week. The Stock Market Bear easily gets a 3-0 victory for Week 8, but The Stock Market Bull wins February 3-0 because of his strong showing in the first couple of weeks. Here comes March and, as usual, predictions are all over the place, making us wonder if it will be another form of “March Madness!” Enjoy the game.

The February 2021 tally YTD is:

  • The Stock Market Bull: 1 month
  • The Stock Market Bear: 0 months
  • Mixed Results: 1 month

The Week 8 of 2021 tally YTD is:

  • The Stock Market Bull: 4 weeks
  • The Stock Market Bear: 3 weeks
  • Mixed Results: 1 week

 

Week 8 News Summary:

Coronavirus Pandemic: As of today, Friday, 02/26/21, at 2:22PM Eastern US, the John Hopkins University CSSE unit says there are now 113,267,921 confirmed cases globally with 2,513,380 deaths, an increase from last Friday of 62,881, which is -6,800 from last Friday. For the US it is 28,464,252 confirmed cases and 509,710 deaths, an increase from last Friday of 14,204, which is -578 from last Friday. The US has vaccinated 50,000,000+ so far in the new year and is easily exceeding 1 million vaccinations per day. It is anticipated that Johnson & Johnson’s single shot COVID-19 vaccine candidate will receive Emergency Use Authorization by the US FDA as soon as possibly today, joining Pfizer/BioNTech and Moderna with that authorization. Walgreens and CVS also announced they will be receiving doses at most of their pharmacies very soon. While there are still some manufacturing, logistical, and federal/state/local issues, the vaccination programs seem to be doing well. During the week President Biden lead a somber ceremony about having reached the 500,000 deaths mark in the US.

US Federal Government: The US House is expected to pass its $1.9 trillion stimulus package this evening. It will then be forwarded to the US Senate. The $15/hour minimum wage part has been deemed in conflict with other previously passed legal actions, and work arounds are being discussed. President Biden’s nominees for high level federal government positions are being approved by the US Senate mostly on a bipartisan basis. President Biden has signed some more executive orders re-implementing some Obamacare era items, and addressing semiconductor chip manufacturing shortages that can affect defense projects and the broader commercial industries. There have been some hearings on the January 6 insurrection attempt with a focus on what was known prior to the attack, preparations for the day, and communications between law enforcement and military groups.

US Economy: Wages showed a significant uptick, weekly initial unemployment insurance claims fell more than expected, mortgage rates increased but are still near record lows, housing prices increased, new car prices are up, the projected building of new homes was up, oil prices increased, gold as well with some fluctuations. Consumer and business surveys continued to be optimistic based on the belief that the COVID-19 crisis will be ending and businesses will get back to some kind of comparable normalcy before the pandemic. Federal Reserve Chairman Powell testified before Congress indicating that inflation concerns are not yet worrisome. Similar thoughts were reflected by other members of the Federal Reserve throughout the week. Bitcoin and other digital currencies were discussion items throughout the week as the Bitcoin price took a significant leap up. New Secretary of the Treasury and former Federal Reserve Chair Janet Yellen provided some opinions on these monetary options. Bond yields increased significantly because of inflationary fears by some key players.

Corporate Business: Annual corporate earnings reports and associated investor days were generally above expectations except for hospitality, travel, and related industries which have been hard hit. More companies announced increased dividends and restarted share buyback programs.

International News: . There was an airstrike against Iranian troops in Syria to stir up some controversies in that part of the world. The US released intelligence that says Saudi Arabia’s Crown Prince Mohammad bin Salman approved the operation to capture or kill Washington Post journalist Jamal Khashoggi. Myanmar continues to struggle with the military’s overthrow of its government. The US and European Union placed some sanctions on Russia. COVID-19 cases appear to be increasing in parts of Europe with continued concerns about variants.

Daily Corporate News:

United Airlines(PBR75 $UAL) reaches agreement with the US Dept of Justice to pay over $49 million to resolve criminal charges and civil claims relating to fraud on postal service contracts for transportation of international mail. USDOJ PR link.

Thermo Fisher Scientific(PBR113 $TMO) completes around $450 million in cash plus up to $100 million for milestone achievements acquisition of Mesa Biotech, a privately held molecular diagnostic company, includes its Accula System which has received Emergency Use Authorization (EUA) from the US FDA for SARS-CoV-2 in vitro diagnostic testing and is now available for use in patient care settings, providing results within 30 minutes, with higher accuracy than other rapid tests on the market. PR link.

Eli Lilly(PBR138 $LLY) gets $210 million US government order for a minimum of 100,000 doses of bamlanivimab (LY-CoV555) 700 mg and etesevimab (LY-CoV016) 1400 mg together for the treatment of recently diagnosed, mild to moderate COVID-19 in patients who are at high risk of progressing to severe COVID-19 and/or hospitalization, will have the option to purchase up to an additional 1,100,000 doses through 11/25/21 under the same terms. PR link.

Diamondback Energy(PBR630 $FANG) completes $375 million in cash and 10.68 million shares of the Company’s common stock acquisition of leasehold interests and related oil and gas assets of Guidon Operating LLC, a portfolio company of Blackstone Energy Partners, includes approximately 32,500 net acres in the Northern Midland Basin. PR link.

Cinemark(PBR698 $CNK) says as of 12/31/20 it had 217 domestic and 129 international theatres open to limited hours, showing library content and some new releases with some limitations on capacities, 4Q20 attendance was 6.6 million patrons, average ticket price was $7.42 and concession revenues per patron was $4.75, total attendance for 2020 was 54.3 million, net loss for 2020 was $616.8 million vs profit of $191.4 in 2019. PR link.

Daily Economic News:

The US Dept of the Treasury says on 02/24/21 the US National Debt-Public is at $21.721 trillion, Intragovernmental $6.152 trillion, 02/24/21 US Total National Debt is $27.873 trillion, 01/31/21 was at $27.829 trillion, 12/30/20 $27.747, 02/28/20 $23.410. PR link.

The US Dept of Commerce/BEA says the Preliminary January 2021 US Total Personal Income Annual Rate is at $21.454 trillion, December 2020 was at $19.499 trillion, November 2020 $19.386 trillion, January 2020 $18.973 trillion. PR link.

The US Dept of the Treasury says on 02/26/21 the US 10 Year Treasury Note Yield is at 1.44%, 01/29/21 was at 1.11%, 12/31/20 0.93%, 02/28/20 1.13%. PR link.

MNI Indicators says the Preliminary February 2021 Chicago Business Barometer(>50 economy gaining) is at 59.5, January 2021 was at 63.8, December 2020 58.7, February 2020 48.9. “Among the main five indicators, New Orders saw the largest monthly decline, followed by Production. Employment recorded the biggest gain.” PR link.

The American Automobile Assn says on 02/26/21 the US Average Regular Unleaded Gas Price is at $2.699, 01/29/21 was at $2.422, 12/31/20 $2.253, 02/29/20 $2.447. PR link.

The U of Michigan Final February 2021 Consumer Sentiment Index is at 76.8, January 2021 was at 79.0, December 2020 80.7, February 2020 101.0. “Perhaps the most attention has been garnered by rising inflationary expectations. The year ahead inflation rate was expected to be 3.3% in February, up from 3.0% last month and 2.5% in December. While consumers clearly anticipate a spurt in inflation in the year ahead, the overall evidence does not indicate the emergence of an inflationary psychology that makes the expectation of inflation a self-fulfilling prophecy.” PR link.

***Thursday, February 25

Daily Corporate News:

AT&T(PBR10 $T) and TPG to establish a new company named DIRECTV (“New DIRECTV”) that will own and operate AT&T’s US video business unit consisting of the DIRECTV, AT&T TV and U-verse video services, implies an enterprise value for the new company of $16.25 billion, AT&T to own 70%, TPG 30%, AT&T will receive $8 billion, to close in 2H21. PR link.

Costco(PBR11 $COST) is raising its starting minimum wage to $16/hr beginning next week, over half of US hourly workers make over $25/hr, according to CEO. NPR PR link.

Target(PBR36 $TGT) will double Apple(PBR3 $AAPL)’s footprint in select Target stores and expand offerings in stores and online, starting with 17 stores, will roll out more throughout 2021. PR link.

Facebook(PBR47 $FB) agrees to payment deals with 3 Australian news publishers. MarketWatch PR link.

PepsiCo(PBR50 $PEP) launches Neon Zebra, a new line of non-alcoholic cocktail mixers, each 7.5oz mini-can of Neon Zebra mixed with spirit of choice, makes two cocktails. PR link.

Merck(PBR68 $MRK) to acquire Pandion Therapeutics(Nasdaq: PAND), a clinical-stage biotechnology company developing novel therapeutics for patients living with autoimmune diseases, for $60/share cash, an equity value of around $1.85 billion, to close in 1H21. PR link.

Best Buy(PBR73) in 4Q21 conference call CEO says it has closed approximately 20 large-format locations each of the past 2 years, and expect to close a higher number this year, also have been reducing the length of the average lease term, started year with 123,000 employees, finish with 102,000, in February laid off and provided severance to approximately 5,000 in place, the majority of which were full time, at the same time are adding approximately 2,000 additional part-time positions. PR link.

Best Buy(PBR73 $BBY) authorizes new $5.0 billion share repurchase program, replaces 02/19 authorization which had $1.7 billion remaining. PR link.

3M(PBR98 $MMM) wins patent infringement case in China regarding its BCA-T (Blue Ceramic Abrasive Triangle) abrasive grain technology. PR link.

Weyerhaeuser(PBR440 $WY) to purchase 69,200 acres of high-quality timberlands in southwest Alabama from Soterra, a subsidiary of Greif(PBR576 $GEF) for approximately $149 million, to close in 2Q21. PR link.

Signet Jewelers(PBR461 $SIG) is raising its US minimum wage to $15 an hour for both full-time and part-time positions. PR link.

Hasbro(PBR560 $HAS) at virtual investor event announces restructuring, new financial reporting segments are: Consumer Products, including toys and games; Wizards of the Coast (Wizards) and Digital Gaming; and Entertainment, provides update on its products and services. PR link.

Hasbro(PBR560 $HAS) is officially renaming the MR. POTATO HEAD brand to POTATO HEAD to better reflect the full line, the iconic MR. and MRS. POTATO HEAD characters will remain MR. and MRS. POTATO HEAD. PR link.

iHeartMedia(PBR649 IHRT) restructuring into 2 reportable units, the iHeartMedia Digital Audio Group and the iHeartMedia Multiplatform Group. PR link.

Twitter(PBR676 $TWTR) provides update on new products and services plans at its Analyst Day event. PR link.

SeaWorld(PBR974 $SEAS) in 4Q20 report says attendance was 6.4 million guests, a decline of 16.3 million guests from fiscal 2019, total revenue was $431.8 million, a decline of $966.5 million from fiscal 2019, 7 of 12 parks were open at end of 4Q20. PR link.

Daily Economic News:

The US Dept of Commerce/BEA says that the 4Q20 2nd Estimated US Annual Gross Domestic Product is at +4.1%, $21.5 trillion, 3Q20 was at $21.2 trillion, 2Q20 $19.5 trillion, 4Q19 $21.7 trillion. PR link.

The US Dept of Labor says for week ending 02/20/21 the US Weekly State Initial Jobless Claims is at 730.000, 01/23/21 was at 847,000, 12/26/20 787,000, 02/22/20 219,000; for week ending 02/13/21 the US Total Insured Unemployment is at 4,419,000 with an Insured Unemployment Rate of 3.1%, 02/15/20 was at 1,724,000 with an Insured Unemployment Rate of 1.2%. PR link.

FreddieMac says on 02/25/21 the US Average 30 Year Fixed Mortgage Rate is at 2.97% with 0.6 points/fees, 01/28/21 was at 2.73%, 12/31/20 2.67%, 02/27/21 3.45%. “Optimism continues as the economy slowly regains its footing, thus affecting mortgage rates. Though rates continue to rise, they remain near historic lows. However, when combined with demand-fueled rising home prices and low inventory, these rising rates limit how competitive a potential homebuyer can be and how much house they are able to purchase.” PR link.

The US Federal Housing Finance Agency announces that borrowers with a mortgage backed by Fannie Mae or Freddie Mac may be eligible for an additional three-month extension of COVID-19 forbearance, allows borrowers to be in forbearance for up to 18 months. PR link.

***Wednesday, February 24

Daily Corporate News:

ExxonMobil(PBR4 $XOM) to sell most of its non-operated upstream assets in the UK central and northern North Sea for $1+ billion, has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices. PR link.

CVS Health(PBR5 $CVS) will administer COVID-19 vaccines in six additional states, approximately 570,000 doses available across 17 states through latest allocation. PR link.

Walgreens Boots Alliance(PBR18 $WBA) to sell Pixel by Labcorp COVID-19 PCR Test Home Collection Kits over-the-counter in up to 6,000 Walgreens stores nationwide beginning in spring of this year, no prescription required, $0 if meet certain requirements, $119 otherwise. PR link.

Verizon(PBR20 $VZ) is primary winner in the US FCC‘s C-Band auction for 5G spectrum, spends $45.5 billion, AT&T(PBR10 $T) spends $23.4 billion, total spend for 5 bidders was $81.2 billion. US FCC PR link.

IBM(PBR38 $IBM) Credit subsidiary to redeem $1.75 billion of outstanding debt and deregister with the SEC, no longer requires direct access to the public capital markets. PR link.

Lowe’s(PBR44 $LOW) in 4Q20 earnings call says it plans to spend $9 billion on share repurchases this year, used $5 billion last year. The Motley Fool PR link.

Australia passes new law requiring Facebook(PBR47 $FB) and Alphabet(PBR12 $GOOG)’s Google unit to pay for news. CNN PR link.

Facebook(PBR47 $FB) blog talks about the Australia actions regarding news reporting and why FB made its decisions, says it has invested $600 million since 2018 to support the news industry, and plans at least $1 billion more over the next three years. PR link.

HP(PBR57 $HPQ) to acquire provider of gaming headsets, keyboards, mice, USB microphones, and console accessories HyperX, the gaming division of Kingston Technology Co, for $425 million, to close in 2Q21. PR link.

TJX Cos(PBR78 $TJX) in 4Q21 report says open-only comp store sales were down only 3%, exceeding plans, approximately 690 stores are temporarily closed due to government mandates in response to the COVID-19 global pandemic, vast majority are located in Europe, expects will continue to be that way for 1Q22. PR link.

AbbVie(PBR95 $ABBV) gets US FDA approval for HUMIRA® (adalimumab) for the treatment of moderately to severely active ulcerative colitis in pediatric patients 5 years of age and older. PR link.

ViacomCBS(PBR103 $VIAC) unveils strategy for Paramount+ streaming service, includes content catalog of more than 30,000 episodes, 2,500 movie titles and over 1,000 live sporting events, plus around-the-clock news coverage. PR link.

Gap Inc(PBR195 $GPS) to invest $140 million in a new state-of-the-art Customer Experience Center in Longview, TX, to meet the rising customer demand for online shopping and reach its future plans for digital growth, will create 500+ full-time jobs in by end of 2023, will grow to 1,000+ full-time jobs over the next five years, and expects to create more than 1,000 part-time and seasonal jobs by 2026. PR link.

AutoZone(PBR247 $AZO) to provide an additional $100 to employees after they complete their COVID-19 vaccination. PR link.

Bausch Health(PBR352 $BHC) reaches agreement with 7.83% shareholder Icahn Enterprises(PBR317 $IEP) and associates, increases Board by two members of Icahn’s choosing. PR link.

Quest Diagnostics(PBR387 $DGX) introduces a new COVID-19 testing service that aids in providing insight into an individual’s immune response as a result of a recent or prior infection with SARS-CoV-2 or to immune response observed in connection with COVID-19 vaccination. PR link.

Carnival Corp(PBR489 $CCL)’s Princess Cruises extends pause of certain cruises to select Alaska, New England, and Pacific Coast sailings through 2021. PR link.

Carnival Corp(PBR489 $CCL)’s Seabourn ultra-luxury cruise line is cancelling all 19 of its 2021 Alaska/British Columbia departures. PR link.

Carnival Corp(PBR489 $CCL)’s Holland America Line is extending its pause of cruise operations to now include all sailings that depart from or conclude in a Canadian port in 2021, include several Alaska, three Canada/New England and two Pacific Coastal cruises in summer and fall of this year and also includes all Land+Sea Journeys. PR link.

Carnival Corp(PBR489 $CCL) pause in operations from US ports has been extended through 05/31/21. PR link.

Iron Mountain(PBR603 $IRM) to form a joint venture with Web Werks, one of India’s top colocation data center providers, expects to invest $150 million over the next two years, anticipates being the majority investor, Web Werks operates three Tier 3, carrier-neutral data centers, in Mumbai, Pune and Delhi NCR. PR link.

Autodesk(PBR700 $ADSK) to acquire Portland, OR-based Innovyze, a global leader in water infrastructure software, for $1 billion cash, to close by 04/30/21. PR link.

Crocs(PBR987 $CROX) in 4Q20 earnings call says it sold 18.9 million pairs of shoes in 4Q20, an increase of 37.7% over 4Q19, average selling price during Q4 increased 13.7% to $21.63. The Motley Fool PR link.

Daily Economic News:

The US Dept of Commerce/HUD says the Preliminary January 2021 US New Family Homes Sold Annual Rate is at 923,000, December 2020 was at 885,000, November 2020 839,000, January 2020 774,000. PR link.

The US Energy Information Administration says that the 02/19/21 US Crude Oil Reserves in Millions of Barrels is at 463.0, 01/22/21 was at 476.7, 12/25/20 493.5, 02/21/20 443.3. PR link.

The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021 as more individuals get vaccinated and the economy reopens. PR link.

***Tuesday, February 23

Daily Corporate News:

Wells Fargo(PBR26 $WFC) to sell its $603 billion in assets under management, 24 offices globally, and specialized investment teams supported by more than 450 investment professionals Wells Fargo Asset Management unit to GTCR and Reverence Capital Partners for $2.1 billion, to close in 2H21. PR link.

Home Depot(PBR27 $HD) on 4Q20 conference call says cordless tools are easier to use, more environmentally friendly, and have the power and runtime to get most jobs done, will be a focus for this spring. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit VP sends a letter to a US House Commerce subcommittee stating that upon approval for Emergency Use Authorization by the US FDA they should be able to provide 20 million doses of its COVID-19 vaccine candidate for use in the US, 100 million doses by 06/30/21. PR link.

Facebook(PBR47 $FB) says the Australian government has agreed to a number of changes and guarantees that address FB’s core concerns about allowing commercial deals that recognize the value its platform provides to publishers relative to the value FB receives from them, will be restoring news on Facebook over the next few days. PR link.

Estee Lauder(PBR219 $EL) to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group from approximately 29% to approximately 76% , to close by 06/30/21, EL to purchase the remaining interests after a three-year period. PR link.

Oshkosh(PBR423 $OSK) Defense unit awarded a US Postal Service proposal, will provide between 50,000 and 165,000 vehicles over a period of 10 years, the USPS’s first large-scale fleet procurement in three decades. PR link.

Marriott Intl(PBR151 $MAR) appoints Group President, Global Development, Design and Operations Services Anthony “Tony” Capuano as CEO and member of the Board, effective immediately, follows the unexpected passing of Marriott President/CEO Arne Sorenson on 02/15/21. PR link.

Daily Economic News:

The Conference Board says the Preliminary February 2021 US Consumer Confidence Index(1985=100) is at 91.3, January 2021 was at 88.9, December 2020 87.1, February 2020 132.6. “… consumers remain cautiously optimistic, on the whole, about the outlook for the coming months. Notably, vacation intentions—particularly, plans to travel outside the U.S. and via air—saw an uptick this month, and are poised to improve further as vaccination efforts expand.” PR link.

The S&P/CoreLogic/Case-Shiller Preliminary December 2020 US National Home Price Index(01/2000=100) is at 234.40, November 2020 was at 232.41, October 2020 229.92, December 2019 212.37, December 2018 201.81. “As COVID-related restrictions began to grip the economy in early 2020, their effect on housing prices was unclear. Price growth decelerated in May and June, and then began a steady climb upward, and December’s report continues that acceleration in an emphatic manner. 2020’s 10.4% gain marks the best performance of housing prices in a calendar year since 2013…” PR link.

TrueCar forecasts February 2021 New Light Vehicle Sales-Retail to be at 967,545 units, Fleet 203,311 units, Total 1,170,856 units, January 2021 was at 1,109,578 units, December 2020 1,619,907 units, February 2020 1,373,324 units; forecasted February 2021 Average Transaction Price is at $38,075, January 2021 $37,558, December 2020 $39,089, February 2020 $35,709. PR link.

The US Federal Bank of Philadelphia says the February 2021 US 3rd District Non-Manufacturing Current General Activity Index(Region) is at +3.9, January 2021 was at -17.5, December 2020 -26.6, February 2020 +31.0. “The future activity indexes suggest that respondents expect improvement at their firms and in the region over the next six months.” PR link.

The US Federal Reserve Bank of Richmond says the February 2021 US 5th District Manufacturing Index(Annualized) is at +14%, January 2021 was also at +14%, December 2020 +19%, February 2020 -2%. “The Fifth District manufacturing activity continued to improve in February… Manufacturers were optimistic that conditions would improve in the coming months.” PR link.

The US Federal Reserve Bank of Richmond says the February 2021 US 5th District Service Sector Revenue Index(Annualized) is at -6%, January 2021 was at -3%, December 2020 -9%, February 2020 +26%. “Fifth District service sector firms reported mixed conditions in February… Survey respondents were optimistic that conditions would improve in the next six months.” PR link.

***Monday, February 22

Daily Corporate News:

Kroger(PBR22 $KR) confirmed that it was impacted by the data security incident affecting Accellion whose services were used by Kroger, as well as many other companies, for third-party secure file transfers, believes potential loss is less than 1% of customers impacted, those possibly affected are from Kroger Health and Money Services, did not affect any Kroger Family of Companies’ IT systems or any grocery store systems or data, no credit or debit card information or customer account passwords were affected. PR link.

Boeing(PBR40 $BA) recommends suspending operations for 69 in-service and 59 in storage Boeing 777’s per Pratt & Whitney engine problem over Demver, CO, US FAA is investigating and has taken that action. PR link.

CBRE(PBR122 $CBRE) to pay around $200 million and transfer its flex-space Hana unit to Industrious, a provider of private offices and suites, CBRE will have a 35% stake in Industrious, plans to acquire an additional 5% in a few months, is the largest shareholder. PR link.

Kohl’s(PBR158 $KSS) gets open letter from investor group lead by Macellum Capital Management saying Kohl’s has chronically underperformed its peers, presents 9 nominees for the Board to be elected at 2021 annual meeting. Macellum PR link.

Kohl’s(PBR158 $KSS) responds to investor group lead by Macellum Capital Management, rejects the Investor Group’s attempt to seize control of its Board and disrupt its momentum. PR link.

Goodyear Tire(PBR209 $GT) to acquire Cooper Tire & Rubber(PBR786 $CTB) for a total enterprise value of approximately $2.5 billion, $54.36/share cash and stock, to close in 2H21. PR link.

Kinder Morgan(PBR234 $KMI) and Brookfield Infrastructure Partners(NYSE: BIP; TSX: BIP.UN) to sell a 25% minority interest in their joint venture Natural Gas Pipeline Co of America to ArcLight Capital Partners for $830 million, KMI to continue to operate the pipeline, will have a 37.5% stake, as will Brookfield. PR link.

DISH(PBR244 $DISH) says it closed 4Q20 with 11.29 million pay-TV subscribers, 9.06 million retail wireless subscribers, revenues of $15.49 billion compared to $12.81 billion in 2019. PR link.

Discovery(PBR276 $DISCA) in 4Q20 report says it expects to have 12 million subscribers by the end of the month, is off to a promising start in 2021 with the successful launch of discovery+ streaming service. PR link.

Regeneron(PBR380 $REGN) and Sanofi get US FDA approval for PD-1 inhibitor Libtayo® (cemiplimab-rwlc) for the first-line treatment of certain patients with advanced non-small cell lung cancer. PR link.

M&T Bank(PBR419 $MTB) to acquire People’s United Financial(PBR853 $PBCT) in an all stock transaction for around $7.6 billion, to close in 4Q21. PR link.

Carnival Corp(PBR489 $CCL) commences an underwritten public offering of $1 billion of shares of common stock, proceeds to be used for general corporate purposes. PR link.

AMC Entertainment(PBR502 $AMC) to reopen its 13 theatres in New York City on 03/05/21, is in response to NY Governor Cuomo’s authorization. PR link.

Camping World(PBR539 $CWH) to acquire Lee’s Family Trailer in Windham, ME, will be the company’s first location in the state of Maine, will rebrand as Camping World, to close in 04/21. PR link.

KKR(PBR608 $KKR) will acquire a 60% majority stake for around $1 billion in Telefónica Chile’s existing fiber optic network, the largest fiber optic network in Chile, and make that network open access through a newly established independent Chilean company with assets managed locally, to close in 1H21. PR link.

Hologic(PBR645 $HOLX) completes $230 million acquisition of Biotheranostics, a privately held, commercial-stage company that provides molecular diagnostic tests for breast and metastatic cancers. PR link.

Daily Economic News:

The US Federal Reserve Bank of Chicago says the Preliminary January 2021 US National Activity Index is at +0.66, December 2020 was at +0.41, November 2020 +0.31, January 2020 -0.05. “Index suggests economic growth increased in January.” PR link.

The Conference Board says the Preliminary January 2021 US Leading Index(2016=100) is at 110.3, December 2020 was at 109.8, November 2020 109.4. “As the vaccination campaign against COVID-19 accelerates, labor markets and overall growth are likely to continue improving through the rest of this year … The Conference Board now expects the U.S. economy to expand by 4.4 percent in 2021, after a 3.5 percent contraction in 2020.” PR link.

***Friday, February 19

The US Stock Exchanges Recap for Week 7 of 2021 ending 02/19/21:

DJIA ends Week 7 at 31,494.32, +0.11% from last Friday, +5.04% MTD, +2.90% QTD/YTD, -0.38% from record 31,613.02 set 02/17/21.

NASDAQ ends Week 7 at 13,874.46, -1.57% from last Friday, +6.15 MTD, +7.65% QTD/YTD, -1.57% from record 14,095.47 set 02/12/21.

SPX ends Week 7 at 3,906.71, -0.71% from last Friday, +5.18% MTD, +4.01% QTD/YTD, -0.71% from record 3,934.83 set 02/12/21.

US Stock Exchanges Week 7 of 2021 News Summary:

The week started out with Presidents’ Day on Monday, a federal holiday originally meant to commemorate the birthday of the first president of the US, George Washington. It was also the day after Valentine’s Day. The US stock markets were closed and it set a rather mellow mood for Week 7. The Stock Market Bull was pretty focused on the DJIA which established new records on Tuesday and Wednesday. But The Stock Market Bear was focused the NASDAQ, which lost some ground Tuesday through Thursday and was up only slightly on Friday. To add to the weekly balance The Stock Market Bear took the S&P500 on all four days. It was the second week in a row when none of the indices had volatile days, meaning no index was up or down by at least 1% on any of the days. The bottom line is that The Stock Market Bear had a 2-1 mixed result, the first of the year, in Week 7. As usual, some prognosticators are saying that this reflects an overbought market, doomsayers are saying to expect a huge correction dip, and the eternal optimists are saying The Stock Market Bull still has a lot of pent up energy and just took a little breather this week. It has been a good month so far for The Stock Market Bull, let’s see if he manages to avoid The Stock Market Bear from ruining his Valentine month.

The Week 7 of 2021 tally YTD is:

 

  • The Stock Market Bull: 4 weeks
  • The Stock Market Bear: 2 weeks
  • Mixed Results: 1 week

 

Week 7 News Summary:

Coronavirus Pandemic: As of today, Friday, 02/19/21, at 6:23PM Eastern US, the John Hopkins University CSSE unit says there are now 110,687,323 confirmed cases globally with 2,450,499 deaths, an increase from last Friday of 69,681, which is -17,721 from last Friday. For the US it is 27,999,565 confirmed cases and 495,506 deaths, an increase from last Friday of 14,782, which is -7,837 from last Friday. The COVID-19 vaccine companies continue to ramp up manufacturing, federal, state and local governments are becoming more efficient with scheduling appointments, the logistics seem to be working better, and an average of well over a million injections are occuring across the US each day. It appears that the program could be completed by mid-summer to early fall. However, there are concerns that COVID-19 variants might require an additional booster, but more testing is being done to verify if that is true.

US Federal Government:  President Biden continues to sign Executive Orders undoing some of the Trump-era policies, re-instating some of the Obama-era initiatives, and making some headway in introducing some new actions. In particular, he released some suggested immigrant policies which are being hotly discussed. The stimulus program seems to be gaining some momentum, but it appears that the much anticipated stimulus checks will probably be sent out in late March/early April. As expected, the second impeachment trial of former President Trump ended last Saturday with an acquittal by the US Senate, with some Republicans joining all the Democrats in voting for the action, which came up 3 votes shy of being passed. There are still some repercussions from the January 6 insurrection attempt and US House Speaker Pelosi has announced that a commission will be formed to gather the facts.

US Economy:  It was a short and light week of economic news. But the Thursday weekly initial jobless claims jumped up quite a bit, and a previous estimate was raised up considerably. Also, the Producer Price Index took a significant leap up, indicating possible inflation issues in the future. Leaders on the US Federal Reserve generally indicated that this is just one month, they still have tools available to control inflation. Mortgage rates went up a little but are still near lows. In general manufacturing results indicated continuing growth and cautious optimism in the near future.

Corporate Business:  The annual corporate earnings reports for the large majority of companies with fiscal years ending in December continue to be released and investor presentations delivered. Except for the major hospitality and travel related companies results are better than what many had anticipated during the start of the COVID-19 crisis. Many companies have increased their dividends and restarted share buyback programs.

International News: . President Biden had some more initial conversations with world leaders and has made some strong statements about China as competition. He also had a first call with Prime Minister of Israel Benjamin Netanyahu. Myanmar continues to struggle as the military continues to be in charge and sanctions are coming in worldwide. On his first day in office President Biden signed an Executive Order re-establishing the US as a member of the Paris Climate Change Accord. The mandatory 30 days waiting period has finished and the US is now officially part of that agreement. Initial discussions on rejoining the Iran nuclear agreement are also being held. In general the world continues to go the way of the COVID-19 pandemic and there are concerns about the UK and South Africa variants being more contagious and deadly, and that the latest vaccines might not provide enough protection against them.

Daily Corporate News:

Walgreens Boots Alliance(PBR18 $WBA) has provided more than 3 million COVID-19 vaccinations across long-term care facilities, as well as additional vulnerable populations prioritized by state and local jurisdictions, has also completed COVID-19 vaccine first-dose clinics in all long-term care facilities that selected Walgreens as a vaccine provider, through the US Federal Retail Pharmacy Program on 02/12/21 began in-store vaccinations in 17 states and jurisdictions, starting 02/25/21 will be allocated 480,000+ doses per week in around 25 states & jurisdictions. PR link.

Cisco(PBR66 $CSCO) completes $730 million acquisition of IMImobile PLC (AIM: IMO), a global provider of cloud communications software and services that manage business-critical interactions at scale. PR link.

MGM Resorts(PBR240 $MGM)’s BetMGM and Topgolf Entertainment Group collaborate on marketing and promotional offers through the BetMGM platform at select Topgolf venues and within WGT by Topgolf, its online golf game. PR link.

Daily Economic News:

The Natl Assn of Realtors says the Preliminary January 2021 US Existing Home Sales Annual Rate is at 1,690,000, December 2020 was at 6,650,000, November 2020 6,710,000, January 2020 5,410,000; the January 2021 Median Price(All Types of Housing) is at $303,900, December 2020 was at $309,800, November 2020 $310,800, January 2020 $266,300. “Home sales are continuing to play a part in propping up the economy… With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” PR link.

***Thursday, February 18

Daily Corporate News:

Walmart(PBR1 $WMT) 4Q21 report shows annual revenues of nearly $560 million, approves a new $20 billion share buyback program. PR link.

Walmart(PBR1 $WMT) raising pay for 425,000 store associates in digital and stocking workgroups, starting rates moving to $13 – $19 per hour, based on the store’s location and market. PR link.

Pfizer(PBR63 $PFE) and BioNTech SE(NASDAQ: BNTX) dosed the first patients in a trial of their messenger RNA COVID-19 vaccine in 4,000 women in the latter stages of pregnancy. Bloomberg PR link.

Eli Lilly(PBR138 $LLY) and Rigel Pharmaceuticals(Nasdaq: RIGL) enter strategic collaboration to develop RIPK1 inhibitors for the potential treatment of immunological and neurodegenerative diseases, Lilly will pay an upfront cash payment to Rigel of $125 million, Rigel may also be eligible to receive up to $835 million in potential development, regulatory, and commercial milestone payments, as well as tiered royalties. PR link.

Sherwin-Williams(PBR170 $SHW) to divest Wattyl, an Australian and New Zealand manufacturer and seller of architectural and protective paint and coatings with annual revenue of approximately $200 million USD and 750 employees, to global coatings company Hempel A/S; Wattyl was previously a unit of Valspar which SHW acquired in 2017, to close in 1Q21, terms not disclosed. PR link.

ODP Corp(PBR290 $ODP) has acquired BuyerQuest Holdings, has delivered a world-class eCommerce experience to procurement organizations all around the world, accelerates ODP’s technology development. PR link.

Camping World(PBR539 $CWH) to acquire two dealership locations of Flagg RV in Uxbridge, MA and West Boylston, MA, and additional land in Griswold, CT for a planned future location, terms not disclosed, to close in 04/21. PR link.

KKR(PBR608 $KKR) sells five major student housing developments with a total of 2,163 units across the UK to Greystar Real Estate Partners for around $400 million. PR link.

Twilio(PBR991 $TWLO) has commenced an underwritten public offering of $1,000,000,000 of shares of its Class A common stock. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary January 2021 US Import Prices Monthly Change is at +1.4%, December 2020 was at +1.0%, November 2020 +0.1%, Year-Over-Year +0.9%January 2021 US Export Prices Monthly Change is at +2.5%, December 2020 was at +1.3%, November 2020 +0.7%, January 2020 +0.5%, Year-Over-Year +2.3%. PR link.

The US Dept of Commerce/HUD says the Preliminary January 2021 US New Residential Construction Building Permits Issued Annual Rate is at a 1,881,000, December 2020 was at 1,704,000, November 2020 1,635,000, January 2020 1,536,000. PR link.

FannieMae in its February Economic and Housing Outlook says fiscal stimulus, successful vaccine deployment likely to boost growth but also pose inflationary risk, raises 2021 GDP forecast from 5.3% to 6.7%, on a Q4/Q4 basis. PR link.

The US Federal Reserve Bank of Philadelphia says the February 2021 US 3rd District Manufacturing General Business Indicator is at +23.1, January 2021 was at +26.5, December 2020 +9.1, February 2020 +30.8. “Most future indexes moderated this month but continue to indicate that firms expect growth over the next six months.” PR link.

***Wednesday, February 17

Daily Corporate News:

Apple(PBR3) gets attention of European Union antitrust regulators per complaint filed by Fortnite game developer Epic Games over Apple’s App Store payment system and control over app downloads. Reuters PR link.

Ford(PBR13) says by mid-2026, 100% of its passenger vehicle range in Europe will be zero emissions capable, all-electric or plug-in hybrid; moving to all-electric by 2030, is part of its plan to invest at least $22 billion globally in electrification through 2025. PR link.

Kroger(PBR22) Health unit announces new scheduling tool to book COVID-19 vaccine appointments online, is now receiving and administering vaccines at 1,300 of its 2,200 family of pharmacies, will be able to administer an average of nearly 500,000 vaccinations per week when all locations online, also providing a vaccine support call center. PR link.

Energy Transfer(PBR58) to acquire Enable Midstream Partners(PBR748) for around $7.2 billion in an all stock deal, to close in mid-2021, has approvals of CenterPoint Energy(PBR252) and OGE Energy(PBR863) who together control 79.2% of Enable’s common stock, to close in mid-2021. PR link.

Pfizer(PBR63) and BioNTech SE (Nasdaq: BNTX) get an agreement with the European Commission to supply an additional 200 million doses of COMIRNATY®, the companies’ COVID-19 Vaccine, to the 27 European Union (EU) member states, brings total supply to the EU to 500 million doses, with delivery expected by the end of 2021, also EC has the option to request supply of an additional 100 million doses. PR link.

Tyson Foods(PBR76) to offer up to four hours pay to workers getting COVID vaccine. MarketWatch PR link.

Sherwin-Williams(PBR170) adds 15 million shares to its repurchase program authorized in 10/15, shares remaining will be part of 3:1 split at end of March, no expiration date. PR link.

MGM Resorts(PBR240) will resume 24/7 hotel operations at Mandalay Bay, Park MGM and The Mirage resorts effective 03/03/21, because of increased interest in travel to Las Vegas. PR link.

News Corp(PBR340) gets 3 year agreement with Alphabet(PBR12)’s Google unit to provide news to the Google News Showcase from its US, UK and Australia news services, includes the development of a subscription platform, the sharing of ad revenue via Google’s ad technology services, the cultivation of audio journalism and meaningful investments in innovative video journalism by Google’s YouTube unit. PR link.

Tractor Supply(PBR360) to acquire operator of 167 stores located in 11 states Orscheln Farm and Home for around $297 million cash. PR link.

Carnival Corp(PBR489)’s Italian business, Costa Cruises, restarts Mediterranean cruises with new program from 03/27/21 with Costa Smeralda and from 05/02/21 with Costa Luminosa. PR link.

Carnival Corp(PBR489)’s P&O Cruises Australia is extending its current operational pause to departures on or before 06/18/21. PR link.

Camping World(PBR539) expands in NE US with new locations in Hamburg, PA and Albany, NY, established through the acquisition of Boat-N-RV Superstore, terms not disclosed. PR link.

KKR(PBR608) to acquire Flow Control Group, a leading distributor of mission-critical flow control and industrial automation products with 10,000+ customers and 2,000+ suppliers in N America, from Bertram Capital, terms not disclosed. PR link.

Wyndham Destinations(PBR622) is now Travel+Leisure Co, ticker is changed from NYSE: WYND to NYSE: TNL, Wyndham Destinations now one of nearly 20 travel brands of the company. PR link.

Rent-A-Center(PBR795) completes $1.273 billion in cash and around 10.8 million shares of Rent-A-Center common stock currently valued at $377 million acquisition of fintech company with $1.25 billion in revenues in 2020 Acima Holdings, a leading provider of virtual lease-to-own solutions. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary January 2021 US Producer Price Index Final Demand is +1.3%, December 2020 was at +0.3%, November 2020 +0.1%, January 2020 +0.3%, Last 12 Months is at +1.7%PR link.

The US Dept of Commerce/Census says the Preliminary December 2020 US Sales-Manufacturers is at $501.8 billion, Retailers $488.6 billion, Wholesalers $503.8 billion, for December 2020 Total Sales at $1,494.2 billion, November 2020 was at $1,482.8, October 2020 $1,482.1, December 2019 $1,458.0. PR link.

The US Dept of Commerce/Census says the Advance January 2021 US Retail Sales-Retailers is at $513.6 billion, Food Services & Drinking Places $54.6 billion, for Total Advance January 2021 Retail Sales at $568.2 billion, December 2020 was at $539.7 billion, November 2020 $545.2 billion, January 2020 $528.9 billion. PR link.

The Federal Reserve Board says the Preliminary January 2021 US Industrial Production % of Capacity is at 75.6%, December 2020 was at 74.9%, November 2020 73.9%, January 2020 76.9%. PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary February 2021 US Housing Market Composite Index is at 84, January 2021 was at 83, December 2020 86, February 2020 74. “Strong buyer demand helped offset supply chain challenges and a surge in lumber prices as builder confidence in the market for newly built single-family homes inched up one point to 84 in February…” PR link.

The US Federal Open Market Committee releases the Minutes of the 01/26-27/21 Meeting, keeps the federal funds rate at 0.00-0.25%, commits to more bond buying, says “… the Committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.” PR link.

***Tuesday, February 16

Daily Corporate News:

Amazon(PBR2 $AMZN) to acquire Shopify competitor Australian based Selz, makes tools that enable businesses to more easily launch their own online stores. CNBC PR link.

Norwegian Cruise Lines(PBR447 $NCLH) extends suspension of all cruises through 05/31/21. PR link.

Palo Alto Networks(PBR679 $PANW) to acquire Bridgecrew, a developer-first cloud security company, for around $156 million. PR link.

Regal Beloit(PBR706 $RBC) and Rexnord(PBR884 $RXN) to be spun-off Process & Motion Control(PMC) segment to merge into RBC, transaction values PMC at $3.69 billion, to close in 4Q21. PR link.

Ingersoll-Rand(PBR824 $IR) to sell a majority interest in its High Pressure Solutions (HPS) Segment to private equity firm American Industrial Partners, will receive around $300 million cash, retain a 45% common equity interest in the business. PR link.

AutoNation(PBR148 $AN) per plan separates Chairman/CEO roles, elects Rick L. Burdick to serve as Chairman, Mike Jackson continues as CEO. PR link.

Marriott Intl(PBR151 $MAR) announces the unexpected death of President/CEO Arne Sorenson, was being treated for pancreatic cancer, interim management structure was put into place on 02/02/21, new CEO is expected to be appointed within the next two weeks. PR link.

La-Z-Boy(PBR941 $LZB) Chairman/President/CEO Kurt L. Darrow to retire from President/CEO roles effective 04/25/21, will then serve as non-executive Chairman until up to 04/30/22, SVP/CFO Melinda D. Whittington elected to become new President/CEO on 04/25/21. PR link.

Daily Economic News:

The US Federal Reserve Bank of New York says the February 2021 Empire State Manufacturing General Business Conditions Index is at +12.1, January 2021 was at +3.5, December 2020 +4.9, February 2020 +12.9. “The general business conditions index rose nine points to 12.1, its highest level since July of last year… Looking ahead, firms remained optimistic that conditions would improve over the next six months, and capital spending plans expanded noticeably.” PR link.

***Monday, February 15

***US Presidents’ Day.
***US Stock Exchanges Closed.

Daily Corporate News:

Alphabet(PBR12 $GOOG)’s Google unit enters into a long-term partnership with Seven West Media, one of Australia’s leading integrated media companies across broadcast, print and digital news, SWM to provide news content to the Google Showcase product which launched in Australia in early February, terms not disclosed. Seven West Media PR link.

General Motors(PBR19 $GM) expands its electric vehicle portfolio with the introduction of the new, all-electric SUV-like 2022 Bolt EUV, alongside the redesigned 2022 Bolt EV, Bolt EUV starts at $33,995, to offer Super Cruise1, the industry’s first true hands-free driver assistance system for enabled roads, Bolt EV starts at $31,995, both to be available in the summer. PR link.

US Foods(PBR110 $USFD) says on 03/01/21 all 72 Smart Foodservice® Warehouse Stores will be rebranded as US Foods CHEF’STORE®, had acquired Smart Foodservice Warehouse Stores in 04/20. PR link.

Avery Dennison(PBR413 $AVY) to acquire JDC Solutions, a privately owned manufacturer of pressure-sensitive specialty tapes, headquartered in Mount Juliet, TN, with around 75 employees and about $30 million in annual revenues, for $24 million, to close in 1Q21. PR link.

Boyd Gaming(PBR692 $BYD) announces BoydPay Digital Wallet in partnership with games developer Aristocrat Technologies, allows customers to use their smartphones to play casino games, cash out, and pay for restaurant meals, show tickets or hotel rooms, available in 3 casinos now, full roll-out planned for summer. PR link.

Intel(PBR45 $INTC) announces that Pat Gelsinger is now CEO, 8th CEO in company’s history. PR link.

***Friday, February 12

The US Stock Exchanges Recap for Week 6 of 2021 ending 02/12/21:

DJIA ends Week 6 at record 31,458.40, +1.00% from last Friday, +4.92% MTD, +2.78% QTD/YTD, +0.00% from record 31,458.40 set 02/12/21.

NASDAQ ends Week 6 at record 14,095.47, +1.73% from last Friday, +7.84 MTD, +9.37% QTD/YTD, +0.00% from record 14,095.47 set 02/12/21.

SPX ends Week 6 at record 3,934.83, +1.23% from last Friday, +5.94% MTD, +4.76% QTD/YTD, +0.00% from record 3,934.83 set 02/12/21.

US Stock Exchanges Week 6 of 2021 News Summary:

The drama of options trading on GameStop and AMC Entertainment and others made a re-entry into Earth’s atmosphere this week, much to the relief of the usual major investing heavyweights and traditional institutional and retail investors. Amid another Trump impeachment trial, coronavirus pandemic news, a new administration trying to settle in, and generally mixed corporate earnings, The Stock Market Bull once again ignored all that and took firm charge of the pasture, ending Week 6 with another convincing 3-0 victory of the major US stock indices, which all ended the week at new records. The Stock Market Bear did try to make some half-hearted efforts, but the impacts were minimal and they were just brief interruptions while The Stock Market Bull was taking some quick water breaks. It will be a long rest weekend as Week 7 will start with the US exchanges being closed on Monday in observance of Presidents Day, when we sing “Happy Birthday!” to George Washington and Abraham Lincoln. The action then resumes with the experts pondering and placing their bets on how long this Bull can keep on running.

The Week 6 of 2021 tally YTD is:

 

  • The Stock Market Bull: 4 weeks
  • The Stock Market Bear: 2 weeks
  • Mixed Results: 0 weeks

 

Week 6 News Summary:

Coronavirus Pandemic: As of today, Friday, 02/12/21, at 6:26PM Eastern US, the John Hopkins University CSSE unit says there are now 108,154,014 confirmed cases globally with 2,380,818 deaths, an increase from last Friday of 87,402, which is -4,613 from last Friday. For the US it is 27,487,790 confirmed cases and 480,724 deaths, an increase from last Friday of 22,619, which is -34 from last Friday. The US government has ordered 100 million more doses of the Pfizer/BioNTech COVID-19 vaccine, making the total 300 million doses. It is anticipated that injections by all should be available to all by the end of April and projections seem to show vaccinations could be completed by the end of July. Manufacturing and logistical issues seem to be settling down and the daily injection rate continues to exceed 1 million/day.

US Presidency:  President Biden appears to be in firm control, made his first call to China President Jinping, addressing several important issues from trade to human rights, and indicating that he plans to continue taking strong positions to protect the US. More appointees have been nominated and approved. The major news was the impeachment trial of former President Trump with the US House Managers making their case for impeachment to the US Senate jury over 2 days by showing some graphic videos of the January 6th attack on the Capitol Building, saying that the insurrectionists were incited by President Trump’s speech just before the event and that it was planned. Trump’s defense team has countered over a 3 hour period that President Trump’s speech also asked for a peaceful demonstration, showed clips of other politicians also using strong language to encourage people to take actions that might be considered inciteful. The US Senate could vote on the impeachment during the weekend, the expectation is that there will not be enough votes to convict.

US Economy:  The Consumer Price Index showed a monthly modest increase and an annual 1.4% inflation rate over the past 12 months, below the Federal Reserve 2% target. Wholesale trade sales increased by a nice rate, the national spending deficit had a large increase and the Congressional Budget Office released a report indicating a $2.3 trillion shortfall this year and an average $1.2 trillion shortfall annually for the next 10 years. The U of Michigan Consumer Sentiment Index took a dip as consumers indicated some concerns about jobs, housing and income. The Federal Reserve released a stress test to major US banks to see how they would weather another severe test of the economy. Weekly initial jobless claims went back up a little, but continuing jobless numbers were down. Average weekly earnings continued to show modest increases and are up 7.5% over last year.

Corporate Business:  As expected annual corporate earnings continued to pour in with a mixed bag of results, showing definite impacts from the coronavirus pandemic, but with guidance often being positive assuming the pandemic ends sometime this summer or early fall. More companies have reinstated share repurchase programs, are adjusting their business models to account for the way employees work and how they are compensated, expanding use of e-commerce, and moving to Cloud-based information technologies. There were a few mergers and acquisitions deals announced, but one of the major news items was that the acquisition of China based TikTok by Oracle and Walmart has been called off indefinitely.

International News: . The Biden administration is implementing sanctions against Myanmar which is now controlled by the military which ousted its democratically elected but controversial president. As mentioned earlier, President Biden has his first direct telephone call with China President Jinping. With the new administration’s halt of building a wall along the Mexico border there now appears to be in increase of illegals crossing into the US. The Biden administration is also taking steps to reunite parents who have been deported with their children who continue to be in custody of the US government. Some initial impacts of the UK and Europe Brexit action are starting to be realized. Europe and Africa continue to struggle with COVID-19 issues, especially as variants continue to appear that appear to be more contagious and might not respond to current vaccines.

Daily Corporate News:

AT&T(PBR10 $T)’s WarnerMedia unit direct-to-consumer streaming platform HBO Max is scheduled to launch in late June in 39 territories1 across Latin America and the Caribbean, marking the first availability for the platform outside the US. PR link.

Microsoft(PBR17 $MSFT) endorses Australia‘s proposal that would require tech gatekeepers like Facebook(PBR47 $FB) and Alphabet(PBR12 $GOOG)’s Google unit to share revenue with local independent news organizations. PR link.

Pfizer(PBR63 $PFE) says the US government has exercised its option for an additional 100 million doses of the Pfizer-BioNTech COVID-19 Vaccine, brings the total number of doses to be supplied to the US government to 300 million, enough for 150 million people. PR link.

Pfizer(PBR63 $PFE) gets US FDA approval for the supplemental Biologics License Application (sBLA) for PANZYGA® (Immune Globulin Intravenous [Human] – ifas 10% Liquid Preparation) to treat adult patients with a rare neurological disease of the peripheral nerves called chronic inflammatory demyelinating polyneuropathy (CIDP). PR link.

International Paper(PBR137 $IP) to sell the Kwidzyn pulp and paper mill and supporting operations in Poland to Mayr-Melnhof Karton AG for around $812 million, employs approximately 2,300 people and has the annual capacity to produce 740,000 metric tons of folding boxboard, uncoated freesheet, specialty kraft papers, and market pulp on four machines, to close in 3Q21. PR link.

Becton Dickinson(PBR182 $BD) gets US FDA Emergency Use Authorization for a new molecular diagnostic test for both SARS-CoV-2 and Influenza A+B that can return results in two to three hours, is run on the BD MAX™ System. PR link.

Bausch Health(PBR352 $BHC) gets US SEC Schedule 13D from Icahn Enterprises(PBR317) and affiliates showing ownership stake in BHC at 7.83%. PR link.

Daily Economic News:

The U of Michigan Preliminary February 2021 Consumer Sentiment Index is at 76.2, January 2021 was at 79.0, December 2020 80.7, February 2020 101.0. “The expected strength in consumer spending in 2021 and 2022 critically depends on a significant reduction in precautionary motives, which in turn depend on progress against the pandemic as well as favorable trends in both inflation and employment.” PR link.

The US Federal Reserve Board releases hypothetical scenarios for its 2021 bank stress tests, 19 large banks are subject to the stress test. PR link.

***Thursday, February 11

Microsoft(PBR17 $MSFT) and Volkswagen Group’s Car.Software Organisation to use Microsoft’s Azure to develop Volkswagen Automotive Cloud, for automated driving functions that can be tested, deployed and operated. PR link.

Walt Disney(PBR51 $DIS) in 1Q21 report says Disney+ streaming service grew from 26.5 million subscribers at end of 2019 to 94.9 million at end of 2020. PR link.

Kraft Heinz(PBR117 $KHC) to sell its $1.1 billion in revenues in 2020 nuts business, including most products sold under the Planters brand, to Hormel Foods(PBR320 $HRL) for $3.35 billion cash, to close in 1H21. PR link.

Rite Aid(PBR141 $RAD) an inaugural participant in the Federal Retail Pharmacy Program, will receive direct federal allocations initially in five states and two jurisdictions: California, Michigan, New Jersey, Ohio, Pennsylvania, Philadelphia, and New York City, expects to receive 100 COVID-19 vaccine doses per participating store, per week at launch. PR link.

Rite Aid(PBR141 $RAD) expands its no-charge COVID-19 testing to all its 1,200+ drive-in locations in partnership with US Dept of Health and Human Services. PR link.

PayPal(PBR172 $PYPL) expects that it could have 750 million active accounts by 2025 and do $50 billion in revenues, has 377 million accounts as of end of 2020, did $21 billion. MarketWatch PR link.

Regeneron(PBR380 $REGN) gets US FDA approval for EvkeezaTM (evinacumab-dgnb) as an adjunct to other low-density lipoprotein cholesterol (LDL-C) lowering therapies to treat adult and pediatric patients aged 12 years and older. PR link.

Navistar(PBR395 $NAV) acquires a new property in San Antonio, TX, which includes existing buildings that will house support functions for its under-construction 900,000-square-foot plant which will produce Class 6-8 vehicles, including new electric-powered trucks, making total investment in the region exceed $275 million and will create over 650 jobs. PR link.

NASDAQ(PBR605 $NDAQ) completes $2.75 billion cash acquisition of St. John’s, Newfoundland and Labrador based cloud based anti-financial crime management solutions provider with 2,000+ N American financial institutions customers Verafin, which expects to have $140 million in revenues in 2021. PR link.

The US Congressional Budget Office releases a document, The Budget and Economic Outlook: 2021 to 2031, forecasts 2021 Deficit to be a $2.3 trillion, then an average deficit of $1.2 trillion per year through 2031. Total debt held by the public at the end of 2020 was at $21.019 trillion, gross domestic product was at $21.000 trillion, estimated debt at end of 2031 is projected to be $35.304 trillion, gross domestic product $32.933 trillion. PR link.

COVID-19 Vaccines Update: Starting today, 02/11/21, 6,500 US pharmacy locations of the around 40,000 nationwide will start receiving doses of the authorized COVID-19 vaccines. CNBC PR link.

***Wednesday, February 10

Target(PBR36 $TGT) providing up to four hours of pay (two hours for each vaccine dose) to its hourly team members when they get their coronavirus vaccines, also providing free Lyft rides for US associates. PR link.

Centene(PBR42 $CNC) adds to share repurchase program, up to $1.0 billion balance available. PR link.

Best Buy(PBR73 $BBY) to cut some jobs at its big box stores as it transitions to more online sales, had furloughed about 51,000 of its workers early in April, including nearly all its part-time employees, as it closed most of its stores early in the pandemic to all but curbside pickup, started bringing back furloughed workers in June and in August raised its starting wage to $15 an hour. MarketWatch PR link.

United Airlines(PBR75 $UAL) to work with Archer Aviation to accelerate production of advanced, short-haul electric aircraft, 5 year timeframe. PR link.

Oracle(PBR80 $ORCL) and Walmart(PBR1 $WMT) acquisition of China based TikTok has been ‘shelved indefinitely,’ Biden administration doing its own security risk evaluations. CNET PR link.

AbbVie(P)BR95 $ABBV)’s Allergan unit gets US FDA approval for BOTOX® for the treatment of detrusor (bladder muscle) overactivity associated with a neurologic condition in pediatric patients 5 years of age and older who have an inadequate response to or are intolerant of anticholinergic medication. PR link.

Charles Schwab(PBR289 $SCHW) lays off around 200 more employees, follows the 1,000 laid off in October after acquisition of TD Ameritrade, still hiring around 1,400 in strategic areas critical to support its growing client base, terminated employees will get early access to all newly-opened positions. CNBC PR link.

Newmont Goldcorp(PBR315 $NEM) reports gold Mineral Reserves of 94.2 million attributable ounces for 2020 as compared to the its adjusted1 95.7 million ounces at the end of 2019, exceeded its 2020 conversion target by replacing 80% of all depletion and maintaining its industry-leading position with the largest gold reserves. PR link.

Tractor Supply(PBR360 $TSCO) to provide a one-time payment of $50 and allow time off as needed for all Team Members who elect to receive a COVID-19 vaccine, has also partnered with a third-party provider to facilitate onsite vaccination clinics at its eight distribution centers and Store Support Center upon approval and availability. PR link.

HanesBrands(PBR415 $HBI) in 4Q20 report says it is planning to exit the personal protective equipment(PPE) business, evaluating strategic opportunities for its European business, plans to focus on its Championship brand. PR link.

Beacon Roofing(PBR418 $BECN) completes $850 million divestiture of its interior products business, consisting of 81 branch locations where it distributes construction products including wallboard, acoustical ceilings, steel framing and insulation to both residential and commercial contractors, to private equity firm American Securities. PR link.

Global Payments(PBR539 $GPN) enters into a $500 million accelerated share repurchase program of its common shares, to be completed by 03/31/21, is part of current share repurchase program. PR link.

Moody’s(PBR549 $MCO) to acquire provider of N America credit data Cortera, provides data and analytics on over 36 million companies. PR link.

Petco(PBR590 $WOOF) to provide a one-time $75 payment to each partner who completes a Covid-19 vaccination program as it becomes available, for each partner that gets fully vaccinated, Petco will also contribute $25 to the Petco Partner Assistance Fund, which provides assistance to employees experiencing financial hardship. PR link.

TreeHouse Foods(PBR603 $THS) comments on JANA Partners‘ 13D filing and nomination of three directors for election to TreeHouse’s board of directors, said it has had multiple constructive discussions with JANA, says current 12 member of the Board are highly qualified, will be reviewing qualifications of JANA nominees. PR link.

Triumph Group(PBR760 $TGI) to sell its Red Oak, TX operations with 1 million sf factory space and 400 employees used for manufacturing large, complex composite and metallic structures such as wing, empennage, and fuselage assemblies, to Arlington Capital Partners, to close by 03/31/21, terms not disclosed. PR link.

Zillow(PBR788 $Z) to acquire ShowingTime.com, an online scheduling platform for home showings used in 370 Multiple Listing Services representing more than one million real estate professionals across the US and Canada, for $500 million. PR link.

The US Dept of the Treasury says the January 2021 US Federal Government Receipts are at $384.7 billion, Outlays are at $547.5 billion, for a January 2021 US Federal Government Deficit of $162.8 billion, December 2020 Deficit was $143.6 billion, November 2020 Deficit $145.3 billion, January 2020 $32.6 billion; the January 2021 Total Deficit Year-to-Date(4 months) is at $735.7 billion, January 2020 Total Deficit was at $389.2 billion. PR link.

The US Dept of Labor says the Preliminary January 2021 US Current Average Earnings Per Hour is at $29.96, Average Hours Worked Per Week at 35.0, for January 2021 Average Weekly Earnings of $1,048.60, December 2020 was at $1,037.53, November 2020 $1,030.43, January 2020 $975.15. PR link.

The US Dept of Labor says the January 2021 US Monthly Change in the Consumer Price Index(Seasonally adjusted) is at +0.3%, December 2020 was at +0.2%, November 2020 +0.2%, Last 12 Months(Unadjusted) is at +1.4%PR link.

The US Dept of Commerce/Census says the Preliminary December 2020 US Wholesales Sales-Durables is at $245.2 billion, Non-Durables $258.6 billion, for December 2020 Total US Wholesale Sales of $503.8 billion, November 2020 was at $497.6 billion, October 2020 $496.00 billion, December 2019 $495.3 billion. PR link.

***Tuesday, February 9

PepsiCo(PBR50 $PEP) debuts Pearl Milling Company, the new name of the pancake mix and syrup varieties previously found under the Aunt Jemima brand, will start to arrive in market in 06/21. PR link.

Eli Lilly(PBR138 $LLY) gets US FDA Emergency Use Authorization for investigational bamlanivimab (LY-CoV555) 700 mg and etesevimab (LY-CoV016) 1400 mg together, is authorized for the treatment of mild to moderate COVID-19 in patients aged 12 and older who are at high risk for progressing to severe COVID-19 and/or hospitalization. PR link.

Marriott Intl(PBR151 $MAR) enters long term agreement with Sunwing Travel Group’s hotel division, Blue Diamond Resorts, which has an extensive portfolio of resort properties throughout the Caribbean, Central America and Mexico, will add 19 franchised resorts totaling nearly 7,000 rooms across six destinations and more than doubling the company’s presence in the all-inclusive segment to 33 properties by 2025. PR link.

Carrier(PBR164 $CARR) authorizes up to $350 share repurchase program. PR link.

Lithia Motors(PBR245 $LAD) has acquired two stores in the Greater Orlando, FL market from Fields Auto Group, includes a Land Rover and a Chrysler Jeep Dodge Ram location, also opening a previously awarded Infiniti location in the Downtown Los Angeles area, both events to add around $240 million in annual revenues, brings the total annualized revenue acquired to over $3.5 billion since the launch of LAD’s five-year plan to reach $50 billion in revenue and $50 of earnings per share. PR link.

Chesapeake Energy(PBR354 $CHK) emerges from Chapter 11 bankruptcy with a new Board, average daily production in 4Q20 was 435,000 barrels of oil equivalent. PR link.

Regeneron(PBR381 $REGN) and Sanofi get US FDA approval for the PD-1 inhibitor Libtayo® (cemiplimab-rwlc) as the first immunotherapy treatment indicated for patients with advanced basal cell carcinoma (BCC) previously treated with a hedgehog pathway inhibitor (HHI) or for whom an HHI is not appropriate. PR link.

Polaris Industries(PBR429 $PII)’ Indian Motorcyle unit is unleashing three new, totally reimagined Indian Chief models for its 2022 lineup in celebration of 100 years in business. PR link.

GoDaddy(PBR747 $GDDY) has completed its acquisition of Poynt, expands GoDaddy’s commerce services to help small businesses grow – both online and offline – using one platform. PR link.

CIT Group(PBR850 $CIT) and First Citizens BancShares(NASDAQ: FCNCA) shareholders approve all stock merger into First Citizens, will create the 19th largest bank in the US based on over $100 billion in assets, to close in 2Q21. PR link.

The US Dept of Labor says the Preliminary December 2020 US Job Openings-Private are at 6,048,000, Government 598,000, December 2020 Total Job Openings is at 6,646,000, November 2020 was at 6,572,000, October 2020 6,632,000, December 2019 6,553,000. Go to the PR link for Hires and Separations data. PR link.

CoreLogic says the November 2020 US Mortgages Delinquent 30 or More Days is at 5.9%, October 2020 was at 6.1%, September 2020 6.3%, November 2019 3.9%. “The consistent decline in serious delinquency since August is a sign of growing financial stability for families. In addition to ensuring that homeowners stay in their homes, the decline in delinquency means fewer distressed sales, which is both a positive for individual households and the overall housing market.” PR link.

The US Federal Housing Finance Agency announces that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until 03/31/21. Also, COVID-19 Payment Deferral for borrowers with an Enterprise-backed mortgage can now cover up to 15 months of missed payments, allows those borrowers to repay their missed payments at the time the home is sold, refinanced, or at mortgage maturity. PR link.

**Monday, February 8

Tesla(PBR119 $TSLA) has acquired $1.5 billion in bitcoin, expect to begin accepting bitcoin as a form of payment in the near future. PR link.

Tesla(PBR119 $TSLA) to meet with China‘s market regulator and four other central government departments over customer complaints about vehicle malfunctions. NikkeiAsia PR link.

Kohl’s(PBR159 $KISS) to partner with Eddie Bauer to bring premium-quality performance outerwear and outdoor apparel for the entire family to Kohl’s customers nationwide in Fall 2021. PR link.

Voya Financial(PBR397 $VOYA) Advisers unit to be acquired by Cetera Financial Group, includes 900 independent financial professionals, around $40 billion in assets, will result in $300 million for Voya, to close 2Q21 or 3Q21. PR link.

Wynn Resorts(PBR437 $WYNN) is making available a public offering of 5,500,000 shares of its common stock, proceeds to be used for general corporate purposes. PR link.

Electronic Arts(PBR495 $EA) to acquire developer and publisher of popular mobile games GluMobile(NASDAQ: GLUU) for an enterprise value of $2.1 billion, $12.50/share cash, to close by 06/30/21. PR link.

Global Payments(PBR540 $GPN) and Alphabet(PBR12 $GOOG)’s Google unit agree to an expansive multi-year partnership to deliver innovative cloud-based products and capabilities, enabling best-in-class digital merchant customer experiences worldwide, includes Global Payments migrating its merchant acquiring technology to Google Cloud, and will provide merchant acquiring services to Google to extend its global market reach, will also be launching a series of strategic go-to-market and co-sell activities together. PR link.

Cleveland-Cliffs(PBR894 $CLF) commenced an underwritten public offering of 60,000,000 common shares, which consists of 40,000,000 currently outstanding Common Shares offered by a subsidiary of ArcelorMittal SA and 20,000,000 Common Shares offered by the Company. PR link.

Cubic Corp(PBR965 $CUB) to be acquired by an affiliate of Veritas Capital under which Veritas and Evergreen Coast Capital, an affiliate of Elliott Investment Management, will acquire Cubic for $70.00 per share in cash, around $2.8 billion, includes the assumption of debt, to close in 2Q21. PR link.

The US Federal Reserve Bank of New York says the January 2021 Monthly Survey of Consumer Expectations shows that “… households’ year-ahead spending growth expectations rose to 4.2%, the highest level recorded in more than 5 years. In contrast, earnings growth expectations have remained flat for the sixth consecutive month.” PR link.

FannieMae says the January 2021 US Home Purchase Sentiment Index is at 77.7, December 2020 was at 74.0, November 2020 80.0, January 2020 93.0. “Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale… ” PR link.

***Friday, February 5

The US Stock Exchanges Recap for Week 5 of 2021 ending 02/05/21:

DJIA ends Week 5 at 31,148.24, +3.89% from last Friday/MTD, +1.77% QTD/YTD, -0.13% from record 31,188.38 set 01/20/21NASDAQ ends Week 5 at record 13,856.30, +6.01% from last Friday/MTD, +7.51% QTD/YTD, +0.00% from record 13,856.30 set 02/05/21SPX ends Week 5 at record 3,886.83, +4.65% from last Friday/MTD, +3.48% QTD/YTD, +0.00% from record 3,886.83 set 02/05/21.

US Stock Exchanges Week 5 of 2021 News Summary:

The options traders saw GameStop and AMC Entertainment stock prices dive almost as dramatically as they rose the previous week. The effect and visibility has caught the attention of federal agencies and some rules changes will most likely be made soon to avoid manipulating the markets in this new era of investing. The Stock Market Bear had his way in Week 4, was pleased with himself, and apparently decided to return to hibernation. The Stock Market Bull responded with a dominating Week 5, more than recovered last week’s losses, closed Week 5 with records for the NASDAQ and S&P500, and fell just short for the DJIA. With his 3-0 victory The Stock Market Bull retakes the lead year-to-date. Week 6 ends with Valentine’s Day, we’ll see who shows the most love for investors. The Week 5 of 2021 tally YTD is: The Stock Market Bull: 3 weeks The Stock Market Bear: 2 weeks Mixed Results: 0 weeks

Week 5 News Summary:

Coronavirus Pandemic: As of today, Friday, 02/05/21, at 15:22PM Eastern US, the John Hopkins University CSSE unit says there are now 105,229,079 confirmed cases globally with 2,293,416 deaths, an increase from last Friday of 92,015, which is -7,492 from last Friday. For the US it is 26,779,193 confirmed cases and 458,105 deaths, an increase from last Friday of 22,653, which is +137 from last Friday. Johnson & Johnson has submitted a request for its COVID-19 vaccine to the US FDA for Emergency Use Authorization(EUA), the committee that reviews and makes recommendations is meeting 02/26/21. Pfizer/BioNTech and Moderna are still the only vaccines with an EUA in the US. There continue to be manufacturing and logistical issues with those vaccines, but there is optimism that they will soon be ironed out. The US daily injection rate remains above 1 million/day. US Presidential Transition:  Executive Orders signed by President Biden are undoing many of former President Trump’s Executive Orders and policies. President Biden met with Republicans for their version of a stimulus package, but President Biden has decided to push for his ‘Go Big’ $1.9 trillion plan, claiming that the Democrats have the votes to get it through and don’t need help from Republicans. So far all of President Biden’s nominations for cabinet and other high level positions that have met before Senate committees have been approved. US Economy: The economy continues to move forward at an overall modest rate. Construction spending had a nice increase of around 1% in December, surveys on manufacturing were very positive backed by new orders being up 1.1% in December. However, US employment change, while positive, was disappointing with only a net gain of around 49,000 in January reported by the US Dept of Labor. Consumer debt bounced up a bit. The International trade report showed a widening deficit gap as imports continue to exceed exports. The business surveys indicated cautious optimism based based on vaccines being available to put an end to the COVID-19 pandemic. Other factors that might affect the economy include a heavy snowfall in the Northeast part of the US. On Groundhog Day the always accurate Punxsutawney Phil predicted 6 more weeks of winter. Corporate Business: Corporate earnings reports had another big week, overall with a mixed bag of results, but again, some cautious optimism about the future. Many companies continue to right-size by reducing headcount, closing and consolidating facilities. American Airlines is planning furloughs of around 13,000 to start in April. General Motors, Ford and Harley-Davidson have announced aggressive plans to bring their electric vehicles to market. Oil and gas companies had a good week as oil prices increased, but most are also investing in alternative energy as well. Several companies indicated they are positioned well enough to resume or start share buyback programs again. International News: . Most coverage went to the overthrow of the democratically elected president by the military, creating a lot of uncertainty. In Russia President Putin’s archrival Navalny who recently returned to Russia after recovering from a nerve gas attack, was captured, put in prison, and convicted in a trial that has a sentence of 2 1/2 years in prison. Both of these actions have made news worldwide with many international leaders and figures expressing concern and considering what actions they should take. President Biden again indicated he plans to take a hard line with China.

Daily Corporate News:

Chevron(PBR16 $CVX) offers to buy the shares it does not already own of Noble Midstream Partners LP (NASDAQ: NBLX), indirectly majority-owned by Chevron, for $12.47/share in an all stock transaction. PR link.

Kroger(PBR22 $KR) will provide a one-time payment of $100 to all associates who receive the full manufacturer-recommended doses of the COVID-19 vaccine, also announces an additional $50 million investment to thank and reward associates across its 35-state footprint, including a $100 store credit and 1,000 fuel points for hourly frontline grocery, supply chain, manufacturing, pharmacy and call center associates. PR link.

Pfizer(PBR63 $PFE) gets a US Patent Term Extension certificate for breast cancer therapy IBRANCE® (palbociclib) until 03/05/27. PR link.

Bristol-Myers Squibb(PBR109 $BMY)’s Juno Therapeutics unit gets US FDA approval for Breyanzi (lisocabtagene maraleucel), a cell-based gene therapy to treat adult patients with certain types of large B-cell lymphoma. PR link.

Illinois Tool Works(PBR223 $ITW) to repurchase around $1 billion in shares in 2021. PR link.

TechnipFMC(PBR232 $FTI) to spin-off Technip Energies as an independent public company effective 02/16/21, will initially trade in the US on the OTC as an ADR. PR link.

AES Corp(PBR302 $AES) subsidiary Indianapolis Power & Light Co to acquire 197 megawatt solar project in Clinton County, IN, system to be completed in 2023, will generate enough electricity to power 30,000+ homes. PR link.

Intuit(PBR391 $INTU) CEO Sasan Goodarzi is interviewed by David Solomon of Goldman Sachs(PBR87 $GS), talks about challenges of business during the COVID-19 pandemic and other issues. PR link.

Under Armour(PBR520 $UA) has made another move to scale back its sports marketing commitments by calling time on its on-field licensing deal with the National Football League, estimated to cost UA $10-15 million, UA seeking alternative opportunities to serve athletes and ensure best return to UA. -SportsPro PR link.

Zions Bancorp(PBR708 $ZION) authorizes up to $50 million share repurchase program for 1Q21. PR link.

Greenbrier(PBR786 $GBX) to form GBX Leasing, a new leasing joint venture with The Longwood Group to develop an owned portfolio of leased railcars primarily to be built by Greenbrier, GBX Leasing will acquire approximately $200 million of newly-built and leased railcars per annum from Greenbrier. PR link.

Carrier(PBR165 $CARR) elects CEO David Gitlin to also be Chairman, succeeds Executive Chairman John Faraci who remains on the Board. PR link.

Daily Economic News:

The US Dept of Labor says the January 2021 US Number of Employed is at 150,031,000, Unemployed 10,130,000, Unemployment Rate is at 6.3%, December 2020 was at 6.7%, November 2020 6.7%, January 2020 3.5%. PR link.

The US Federal Reserve Board says the Preliminary December 2020 US Consumer Credit Outstanding-Revolving is at $975.9 billion, Non-Revolving $3,208.3 billion, Total is at $4,184.2 billion, November 2020 was at $4,174.5 billion, October 2020 $4,160.5 billion, December 2019 $4,180.7 billion. PR link.

The US Dept of Commerce/Census says the Preliminary December 2020 US Exports-Goods is at $133.5 billion, Services $56.5 billion, December 2020 Total Exports is at $190.0 billion; December 2020 US Imports-Goods is at $217.7 billion, Services $38.9 billion, December 2020 Total Imports is at $256.6 billion, December 2020 Total Deficit is at $66.6 billion, December 2020 Total YTD Deficit(12 Months) is at $678.9 billion, December 2019 Total YTD Deficit was at $576.3 billion. PR link.

***Thursday, February 4

Alphabet(PBR12)’s Google unit gets new multi-year, strategic partnership with Twitter(PBR680), Twitter will extend its work with Google and move offline analytics, data processing, and machine learning workloads to Google’s Data Cloud. MarketWatch PR link.

Ford(PBR13) raises planned investment in electric and autonomous vehicles to $29 billion, further advances turnaround of global automotive business in 4Q20. PR link.

Microsoft(PBR17) unveils new Employee Experience Platform — Microsoft Viva, for $300 billion market, will integrate with the productivity and collaboration capabilities in Microsoft 365 and Microsoft Teams. PR link.

Johnson & Johnson(PBR35) submits application to the US FDA for approval of its COVID-19 vaccine, plans to manufacturer 100 million doses for use in the US in 1H21. PR link.

Boeing(PBR40) is outsourcing 600 IT jobs to Dell(PBR34) starting in late 04/21, shed 20,000 jobs companywide in 2020 and has said it needs to cut 11,000 more this year. The Seattle Times PR link.

American Airlines(PBR69) notifies employees that on 02/05/21 it will begin to send Worker Adjustment and Retraining Notification notices to approximately 13,000 U.S.-based employees, will take effect on or after 04/01/21, in response to continuing COVID-19 pandemic on its business. PR link.

Quest Diagnostics(PBR389) increases its share repurchase program by $1 billion, balance available is now around $1.917 billion. PR link.

Ralph Lauren(PBR462) in 3Q21 report says it has identified up to 10 stores subject to potential closure through Fiscal 2022, plans to complete the consolidation of its existing North America distribution centers, plans to reinstate quarterly dividend in the 1H22 fiscal year. PR link.

Coty(PBR563) opens the Gucci Beauty flagship store on Alibaba‘s luxury and premium brands online Tmall Luxury Pavilion, digital store connects Gucci Beauty products with more than 770 million Chinese consumers. PR link.

UnitedHealth(PBR7) CEO David S. Wichmann retires, Optum unit CEO and UNH President Sir Andrew Witty named CEO, effective immediately, Dirk McMahon to become President/COO; will join Witty and CFO John Rex in CEO Office. PR link.

Merck(PBR68) Chairman/CEO Kenneth C. Frazier to retire from CEO role on 06/30/21, will continue as Executive Chairman for a period yet to be determined afterwards, EVP/Global Services and CFO Robert M. Davis to become CEO and member of the Board on 07/01/21. PR link.

The US Dept of Labor says the Revised 4Q20 US Labor Productivity Output/Hour(Business Sector) is at -5.4%, 3Q20 was at +6.5%, 2Q20 +9.6%, 4Q19 +1.4%, Preliminary 2020 is at +2.6%PR link.

The US Dept of Commerce/Census says the Preliminary December 2020 US Manufacturers New Orders-Durables is at $246.4 billion, Non-Durables $247.1 billion, Total $493.5 billion, November 2020 was at $488.3 billion, October 2020 $482.2 billion, December 2019 $500.2 billion. PR link.

***Wednesday, February 3

Amazon(PBR2) to open a new 634,812 sf fulfillment center in Alcoa, TN, will create nearly 800 full-time jobs. PR link.

Marriott Intl(PBR151 $MAR)’s JW Marriott unit‘s 100th property, JW Marriott Tampa Water Street is now open, first JW Marriott opened in 1984 in Washington, DC. PR link.

Sherwin-Williams(PBR171 $SHW) to do a 3:1 stock split for shareholder of record at the close of business on 03/31/21, will start trading at stock-split adjusted basis on 04/01/21. PR link.

Uber(PBR222 $UBER) launches its Eat Local campaign, renewed efforts to support independent restaurant owners and operators in 2021 as the industry continues to face COVID-related challenges, committing $20 million through various initiatives including $4.5 million in microgrants. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM gets Richard Childress Racing as a partner, marks the first partnership between a NASCAR team and sports betting operator. PR link.

Express(PBR892 $EXPR) average price of shares has averaged over $1.00 over the past 30 days, regains NYSE listing compliance. PR link.

Steris(PBR741 $STE) President/CEO Walt Rosebrough to step down at company’s annual meeting on 07/29/21, COO Dan Carestio to become President/CEO at that time, is appointed to Board effective immediately. PR link.

ADP says the Preliminary January 2021 US Change In Private Sector Employment is at +174,000, +51,000 from Small Businesses, +84,000 from Mid-Sized Businesses, +39,000 from Large-Sized BusinessesGoods Producing Sector is at +19,000, Services Sector is at +156,000. PR link.

The Institute for Supply Management says the Preliminary January 2021 US Services PMI Index(>50 Economy is growing) is at 58.7%, the highest since February 2019 when it was at 58.8%, revised December 2020 was at 57.2%. PR link.

IHS Markit says the January 2021 US Composite PMI Output Index is at 58.7, December 2020 was at 55.3, November 2020 58.6, January 2020 53.3. “The improving data set the scene for a strong first quarter, and a rise in business expectations for the year ahead bodes well for the recovery to gain traction as the year proceeds. Companies have become increasingly upbeat amid news of vaccine roll-outs and hopes of further stimulus.” PR link.

***Tuesday, February 2

Amazon(PBR2) will pay more than $61.7 million to settle US Federal Trade Commission charges that it failed to pay Amazon Flex drivers the full amount of tips they received from Amazon customers over a two and a half year period. FTC PR link.

McKesson(PBR8) has revenues of $179.1 billion through 3Q21, +4% from 3Q20, takes $8.1 billion charge in 3Q21 related to the estimated liability for opioid-related claims of governmental entities, authorizes an additional $2 billion for its share repurchase program. PR link.

Boeing(PBR40) using bonds to raise $9.825 billion to help repay draws on loans. PR link.

Pfizer(PBR63) raises forecast of COVID-19 vaccine revenues from $13 billion to $15 billion based on recent study releases by AstraZeneca and Johnson & Johnson(PBR35) of their potential vaccines that showed lower efficacy. Barron’s PR link.

HCA Healthcare(PBR64) 4Q20 report says share repurchase program resumes, had been suspended in March 2020, has $2.8 billion available, authorizes $6 billion to be added. PR link.

Uber(PBR222) to acquire alcohol delivery service Drizly for around $1.1 billion, to close in 1H21. PR link.

US Steel(PBR239) has commenced an underwritten public offering of 42,000,000 shares of common stock, expects to generate $699 million in cash, to pay down debt and for general corporate purposes. PR link.

RR Donnelley(PBR456) to expand its N American production capabilities in Reynosa, Mexico, and Durham, NC, to support the trading card and collectible card game industry which has grown significantly during the COVID-19 pandemic. PR link.

Chipotle(PBR489) in 4Q20 report says digital sales grew 174.1% year over year to $2.8 billion and represented 46.2% of of its $6.0 billion in 2020 sales. PR link.

Electronic Arts(PBR495) to enter into a partnership with CLC, the leading US collegiate trademark licensing company, to return college football to its EA Sports platform, to be the exclusive developer of simulation college football video game experiences, timeframe for availability to be announced later. PR link.

Harley-Davidson(PBR510) provides The Hardwire 2021-2025 strategic plan, includes a Harley-Davidson Certified, a pre-owned motorcycle program, to strengthen commitment to electric with the creation of a dedicated division focused exclusively on leading the future of electric motorcycles. PR link.

Carlisle Cos(PBR552) authorizes new up to 5 million shares repurchase program, is in addition to around 2 million shares available on 12/31/20 from the existing program, no expiration date. PR link.

NASDAQ(PBR607) to sell its to sell its US fixed income business, Nasdaq Fixed Income, to an affiliate of Tradeweb Markets(Nasdaq: TW), value of transaction to be around $700 million, $1 billion to be added to share repurchase program upon close, expected sometime in 2021. PR link.

Amazon(PBR2) Chairman/CEO Jeff Bezos to transition to be Executive Chairman in 3Q21, President/CEO of Amazon Web Services Andy Jassy to become President/CEO at that time. PR link.

Marriott Intl(PBR151) President/CEO Arne Sorenson to temporarily reduce schedule for pancreatic cancer treatment, interim management structure put in place to oversee day-to-day operations. PR link.

Freeport-McMoRan(PBR215) Non-Executive Chairman Gerald J. Ford steps down, to retire as a director at end of his term in 06/21, CEO Richard C. Adkerson named to add Chairman role, effective immediately. PR link.

The US Dept of Commerce/Census says the 4Q20 US Total Housing Units are at 141,241,000, Owner Occupied is at 82,808,000, Renter Occupied 42,997,000, Unoccupied 15,436,000, for Homeownership Rate of 65.8%, 3Q20 was at 67.4%, 2Q20 67.9%, 4Q19 65.1%. PR link.

The PurdueU/CME Group January 2021 US Ag Economy Barometer(100=Unchanged) Composite Index is at 167, December 2020 was at 174, November 2020 167, January 2020 167. “The ongoing strength in the Current Conditions Index appears to be driven by the ongoing rally in crop prices, while the deterioration in the Futures Expectations Index seems to be motivated by longer-run concerns about policies that could impact U.S. agriculture in the future… ” PR link.

FreddieMac‘s most recent “Insight” provides an interesting analysis titled “U.S. Population Growth: Where is housing demand strongest?” PR link.

Go to The PBRMarketTools US Economic Indices Snapshots information page to find out more about the news and data we provide. US Indices Info Page.

***Monday, February 1

Apple(PBR3 $AAPL) gets more than $33 billion worth of orders for its new 6 tranche $14 billion debt deal, includes mostly bonds rated Aa1 and AA+ that mature in five to 40 years. MarketWatch PR link.

ExxonMobil(PBR4 $XOM) forms ExxonMobil Low Carbon Solutions unit to commercialize emission-reduction technology, will initially focus on carbon capture and storage, to invest $3 billion on lower emission energy solutions through 2025. PR link.

Alphabet(PBR12 $GOOG)‘s Google unit’s internal games development group for its Stadia platform to be phased out, new game titles to be provided by third party developers. PR link.

Ford(PBR13 $F) and Alphabet(PBR12 $GOOG)’s Google unit agree to 6 year partnership to create unique services and capabilities for Ford and Lincoln customers, makes Google Cloud Ford’s preferred cloud provider, establishing a new collaborative group, Team Upshift to drive innovation and implement Ford’s transformation plan. PR link.

Pfizer(PBR63 PFE) COVID-19 vaccine partner BioNTech(NASDAQ: BNTX) says it plans to manufacture 2 billion doses of our COVID-19 vaccine in 2021 by expanding the previously expected output of 1.3 billion doses by more than 50%, modification of production processes at Pfizer’s facility in Puurs, Belgium, has been successfully completed, now working with 13 European partners for expansion as well. BioNTech PR link.

Northrop Grummaun (PBR92 $NOC) completes its $3.4 billion in cash divestiture of its federal IT and mission support business, generated around $2.3 billion in revenues in 2020, to Veritas Capital. PR link.

Duke Energy(PBR116 $DUK) forms a new, wholly owned subsidiary eTransEnergy, to help large businesses and municipalities with all the planning, financing, acquisition and deployment services to electrify their fleets. PR link.

Eaton Corp(PBR147 $ETN) to acquire Cobham Mission Systems, a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets, for $2.83 billion, to close in 2H21. PR link.

Carnival Corp(PBR153 $CCL)’s Princess Cruises MedallionClass Ships launches Ocean® Sportsbook, a new, real-time sports wagering option on major sports competitions like professional* and college football, basketball, baseball and hockey as well as a wide variety of other domestic and international events.to be available onboard when cruises resume. PR link.

Xerox(PBR338 $XRX) is making organizational changes to support plans to create three new businesses – Software, Financing and Innovation by 2022. PR link.

Blackstone(PBR402 $BX) to acquire Interior Logic Group Holdings, a data-driven and technology-enabled provider of interior design, supply chain and installation management solutions to several of the nation’s largest single-family homebuilders, from Littlejohn & Co for around $1.6 billion, to close in 2Q21. PR link.

KKR(PBR611 $KKR) completes acquisition of 2+ million policyholders retirement and life insurance company Global Atlantic Financial Group Ltd, had a book value of around $4.7billion at closing, will continue to operate as a separate business with its existing brands and management team. PR link.

Worthington Industries(PBR735 $WOR) has acquired Secaucus, NJ-based $68.2 million in sales in 2020 General Tools & Instruments Co, a provider of consumer products brands in niche tools and outdoor living, for $115 million. PR link.

Ingersoll-Rand(PBR826 $IR) completes $184 million cash acquisition of Springfield, MO based 160 employees with around $60 million in annual revenues Tuthill Vacuum and Blower SystemsPR link.

Emerson Electric(PBR187 $EMR) Chairman/CEO David N. Farr to retire as CEO on 02/05/21, retire as Chairman on 05/04/21, Executive President/Automation Solutions Lal Karsanbhai named CEO successor. PR link.

The US Dept of Commerce/Census says the Preliminary December 2020 US Construction Spending Annual Rate-Residential is at $700.2 billion, Non-Residential $790.2 billion, Total $1,490.4 billion, November 2020 was at $1,475.6 billion, October 2020 $1,459.0, December 2019 $1,347.3 billion. PR link.

The Institute for Supply Management says the January 2021 US Manufacturing PMI Index(>50 economy expanding) is at 58.7%, December 2020 was at 60.5%. “Manufacturing performed well for the eighth straight month, with demand, consumption and inputs registering strong growth compared to December. Labor market difficulties at panelists’ companies and their suppliers will continue to restrict the manufacturing economy expansion until the coronavirus (COVID-19) crisis abates… ” PR link.

IHS Markit says the January 2021 US Manufacturing PMI Index is at 59.2, December 2020 was at 57.1, November 2020 56.7, January 2020 51.9. “US manufacturing started 2021 on an encouragingly strong footing, with production and order books growing at the fastest rates for over six years.” PR link.

The non-partisan US Congressional Budget Office says Estimated Year-to-Year 2021 US Real Gross Domestic Product will be around +4.6%, 2021 Unemployment Rate will end at around 5.3%, 2020 Real GDP is estimated at -3.5%, Unemployment Rate at 6.8%. PR link.

***Friday, January 29

The PBRMarketTools US Stock Exchanges Recap for Week 4 of 2021 ending 01/29/21:

DJIA ends Week 4 at 29,982.62, -3.27% from last Friday, -2.04% MTD/QTD/YTD, -3.87% from record 31,188.38 set 01/20/21.

NASDAQ ends Week 4 at 13,070.69,-3.49% from last Friday, +1.42% MTD/QTD/YTD, -4.15% from record 13,635.99 set 01/25/21.

SPX ends Week 4 at 3,714.24, -3.31% from last Friday, -1.11% MTD/QTD/YTD, -3.66%% from record 3,855.36 set 01/25/21.

US Stock Exchanges Week 4 and January 2021 Summary: The start of Week 4 looked promising as The Stock Market Bull opened Monday by establishing new records on the NASDAQ and S&P500. But The Stock Market Bear had had enough and took over the rest of the final week of the month by spilling a lot of green blood. At the same time there was a war between day trader and hedge fund shorters against users and sympathizers of GameStock and AMC Entertainment, with dramatic wild rides up then down and then way up again. Many say this was instigated through the Reddit social media platform. The popular millenial trading sites like Robinhood became the primary tool used to carry out the war, and the incident is starting to be scrutinized by the federal government. The Week 4 result, however, was clearly in favor of The Stock Market Bear who racks up a 3-0 result. Before the week started it appeared that January would be an easy victory for The Stock Market Bull, but January 2021 ended with a 2-1 mixed result in favor of The Stock Market Bear. There was a lot of volatility in January. Let’s see if there is a more loving Valentine effect in February.

The Week 4 of 2021 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 0 weeks

The Month 1 of 2021 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 0 months
Mixed Results: 1 month

The Week 4 and Month of January 2021 News Summary:

Coronavirus Pandemic: As of today, Friday, 01/29/21, at 14:21PM Eastern US, the John Hopkins University CSSE unit says there are now 101,879,985 confirmed cases globally with 2,201,401 deaths, an increase from last Friday of 99,507, which is +1,882 from last Friday. For the US it is 25,874,892 confirmed cases and 435,452 deaths, an increase from last Friday of 22,516, which is +678 from last Friday. It appears that 1+ million vaccinations are being injected daily, but logistical and manufacturing issues remain. Pfizer/BioNTech and Moderna vaccines are being used. Johnson & Johnson has published preliminary results of its Phase 3 trial single dose vaccine, effectiveness comes in at a high rate, but not as high as the first two. US FDA Emergency Use Authorization needs to be approved before it can start to be used. President Biden announced that an additional 200 million doses have been ordered for use through the summer. For January the Coronavirus Pandemic seems to have picked up some steam, especially as new variants are being detected, there are a lot of logistical and supply issues for approved vaccines, but there seems to be some longterm optimism that this pandemic will come to an end.

US Presidential Transition:  President Biden has signed several executive orders, including rejoining the Paris Climate Change Accord and the World Health Organization. He also has put a halt to the Keystone XL pipeline suspended construction of the wall between the US and Mexico. Other actions include a “Buy American” incentive plan, the reopening of the Obamacare health plans, and much more. The US Senate approved some high level nominations, most notable being Janet Yellen as Secretary of the US Dept of the Treasury and Antony Blinken as Secretary of the US Dept of State. Biden’s proposed Stimulus Bill is being questioned by the Republicans who would like a separate bill for funding stimulus checks while Democrats want a broader bill that includes additional priorities. It is the first big test of a split 50/50 US Senate and sets the tone for future efforts that require cooperation. January was a transition period as the new administration took on the reigns, but it has not been the smoothest, especially in light of the attempted January 6th insurrection at the Capital Building. However, forward movement is being made, but it appears many challenges lie ahead.

US Economy: The 4Q20 Gross Domestic Product Annual Rate came in at a respectable +4%. The mid January 4 Week Average of Total Insured Unemployment fell just below 5 million, about a 450,000 decrease from mid December, but still well above the 1.7+ million in pre-pandemic mid last January. Consumer confidence surveys were up a little bit, home prices continue to rise, mortgage rates remain low, the Federal Open Market Committee met and issued a statement that the US economy has “moderated” and remains at the mercy of the pandemic. January was mostly slightly positive for economic news with a lot of anxiety building up for a post-pandemic boom.

Corporate Business: It was a big week for annual corporate earnings reports. The effects of the Coronavirus Pandemic was pretty clear, but 4Q20 results indicated some optimism for the future as many corporations continue to implement startegies to raise cash to get them through however long the pandemic lasts. There were some bright spots as well, especially in the tech world, some retailers, and financial sector.

International News: . President Biden was a little more open about taking a hard stance against China regarding trade and intellectual property issues. New Secretary of State Blinkman is starting to try to rebuild some relationships that were affected during the Trump administration, working with the Palestinians as one example. Brexit is starting to show its so far mostly negative effects in the UK and Europe. The European economy is in a recession and continues to struggle from the Coronavirus Pandemic caused lockdowns.

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The PBR1000 January 2021 Breaking News Recap

The PBR1000 for January: The Beginning of the End?

COVID19 Coronavirus PBR1000 News

COVID-19 still consumes most of the news, but with vaccinations now approved and being distributed there is hope that the end of the pandemic is near, but there are issues of new variant strains, and how a new US President plans to proceed.

The January 2021 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, January 29

The PBRMarketTools US Stock Exchanges Recap for Week 4 of 2021 ending 01/29/21:

DJIA ends Week 4 at 29,982.62, -3.27% from last Friday, -2.04% MTD/QTD/YTD, -3.87% from record 31,188.38 set 01/20/21.

NASDAQ ends Week 4 at 13,070.69,-3.49% from last Friday, +1.42% MTD/QTD/YTD, -4.15% from record 13,635.99 set 01/25/21.

SPX ends Week 4 at 3,714.24, -3.31% from last Friday, -1.11% MTD/QTD/YTD, -3.66%% from record 3,855.36 set 01/25/21.

US Stock Exchanges Week 4 and January 2021 Summary: The start of Week 4 looked promising as The Stock Market Bull opened Monday by establishing new records on the NASDAQ and S&P500. But The Stock Market Bear had had enough and took over the rest of the final week of the month by spilling a lot of green blood. At the same time there was a war between day trader and hedge fund shorters against users and sympathizers of GameStock and AMC Entertainment, with dramatic wild rides up then down and then way up again. Many say this was instigated through the Reddit social media platform. The popular millenial trading sites like Robinhood became the primary tool used to carry out the war, and the incident is starting to be scrutinized by the federal government. The Week 4 result, however, was clearly in favor of The Stock Market Bear who racks up a 3-0 result. Before the week started it appeared that January would be an easy victory for The Stock Market Bull, but January 2021 ended with a 2-1 mixed result in favor of The Stock Market Bear. There was a lot of volatility in January. Let’s see if there is a more loving Valentine effect in February.

The Week 4 of 2021 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 0 weeks

The Month 1 of 2021 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 0 months
Mixed Results: 1 month

The Week 4 and Month of January 2021 News Summary:

Coronavirus Pandemic: As of today, Friday, 01/29/21, at 14:21PM Eastern US, the John Hopkins University CSSE unit says there are now 101,879,985 confirmed cases globally with 2,201,401 deaths, an increase from last Friday of 99,507, which is +1,882 from last Friday. For the US it is 25,874,892 confirmed cases and 435,452 deaths, an increase from last Friday of 22,516, which is +678 from last Friday. It appears that 1+ million vaccinations are being injected daily, but logistical and manufacturing issues remain. Pfizer/BioNTech and Moderna vaccines are being used. Johnson & Johnson has published preliminary results of its Phase 3 trial single dose vaccine, effectiveness comes in at a high rate, but not as high as the first two. US FDA Emergency Use Authorization needs to be approved before it can start to be used. President Biden announced that an additional 200 million doses have been ordered for use through the summer. For January the Coronavirus Pandemic seems to have picked up some steam, especially as new variants are being detected, there are a lot of logistical and supply issues for approved vaccines, but there seems to be some longterm optimism that this pandemic will come to an end.

US Presidential Transition:  President Biden has signed several executive orders, including rejoining the Paris Climate Change Accord and the World Health Organization. He also has put a halt to the Keystone XL pipeline suspended construction of the wall between the US and Mexico. Other actions include a “Buy American” incentive plan, the reopening of the Obamacare health plans, and much more. The US Senate approved some high level nominations, most notable being Janet Yellen as Secretary of the US Dept of the Treasury and Antony Blinken as Secretary of the US Dept of State. Biden’s proposed Stimulus Bill is being questioned by the Republicans who would like a separate bill for funding stimulus checks while Democrats want a broader bill that includes additional priorities. It is the first big test of a split 50/50 US Senate and sets the tone for future efforts that require cooperation. January was a transition period as the new administration took on the reigns, but it has not been the smoothest, especially in light of the attempted January 6th insurrection at the Capital Building. However, forward movement is being made, but it appears many challenges lie ahead.

US Economy: The 4Q20 Gross Domestic Product Annual Rate came in at a respectable +4%. The mid January 4 Week Average of Total Insured Unemployment fell just below 5 million, about a 450,000 decrease from mid December, but still well above the 1.7+ million in pre-pandemic mid last January. Consumer confidence surveys were up a little bit, home prices continue to rise, mortgage rates remain low, the Federal Open Market Committee met and issued a statement that the US economy has “moderated” and remains at the mercy of the pandemic. January was mostly slightly positive for economic news with a lot of anxiety building up for a post-pandemic boom.

Corporate Business: It was a big week for annual corporate earnings reports. The effects of the Coronavirus Pandemic was pretty clear, but 4Q20 results indicated some optimism for the future as many corporations continue to implement startegies to raise cash to get them through however long the pandemic lasts. There were some bright spots as well, especially in the tech world, some retailers, and financial sector.

International News: . President Biden was a little more open about taking a hard stance against China regarding trade and intellectual property issues. New Secretary of State Blinkman is starting to try to rebuild some relationships that were affected during the Trump administration, working with the Palestinians as one example. Brexit is starting to show its so far mostly negative effects in the UK and Europe. The European economy is in a recession and continues to struggle from the Coronavirus Pandemic caused lockdowns.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit says results from Phase 3 test indicates that its single shot COVID-19 vaccine candidate was 66% effective overall at preventing moderate to severe COVID-19 related hospitalization and death, 28 days after vaccination, to file for US FDA Emergency Use Authorization in early February. PR link.

American Airlines(PBR69 $AAL) enters into an at-the-market(ATM) agreement with some financial institutions to sell up to $1.18 billion in shares of common stock. PR link.

Eli Lilly(PBR137) says in 4Q20 report that the US government has committed to purchase a total of 1,450,000 doses of bamlanivimab, which includes 950,000 doses already delivered and an agreement earlier this week to deliver 500,000 additional doses no later than 03/31/21, for the treatment of mild to moderate COVID-19 in adults and pediatric patients 12 years and older with a positive COVID-19 test, who are at high risk for progressing to severe COVID-19 and/or hospitalization. PR link.

Eaton Corp(PBR147) to acquire Tripp Lite, a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications markets in the Americas, for $1.65 billion, to close mid-2021. PR link.

AMC Entertainment(PBR502) major investor Silver Lake sells all its stock for $713 million, capitalizing on a 10-fold rise in the price of the shares as traders organizing on social media platforms such as Reddit snapped them up. Reuters PR link.

The US Dept of the Treasury says that on 01/27/21 the US National Debt-Public is at $21.629 trillion, Intragovernmental $6.131 trillion, Total $27.760 trillion, 12/30/20 was at $27.747 trillion, 11/30/20 $27.406 trillion, 12/31/19 $23.201 trillion. PR link.

The US Dept of the Treasury says at the close on 01/29/21 the US 10 Year Treasury Note Yield is at 1.11%, 12/31/20 was at 0.93%, 11/30/20 0.84%, 12/31/19 1.92%. PR link.

The US Dept of Commerce/BEA says the Preliminary December 2020 US Personal Income Annual Rate is at $19.569 trillion, November 2020 was at $19.452 trillion, October 2020 $19.708 trillion, December 2019 $18.801 trillion. PR link.

The US Dept of Labor says the 4Q20 US Employment Cost Index(12/2005=100) is at 142.4, 3Q20 was at 141.1, 2Q2020 140.7, 4Q19 138.9. PR link.

The U of Michigan Final January 2021 US Consumer Sentiment Index is at 79.0, December 2020 was at 80.7, November 2020 76.9, January 2020 99.8. “Despite continuing job and income disparities, as precautionary motives begin to ease, accumulated savings will spark a significant gain in spending in late 2021.” PR link.

The US Federal Reserve Bank of Chicago says the Preliminary December 2020 US 7th District Midwest Economy Index is at +1.26, November 2020 was at +1.83, October 2020 +3.00, December 2019 -0.51. “Index suggests slower, but still above-trend Midwest growth through December.” PR link.

MNI Indicators says the Preliminary December 2020 Chicago Business Barometer(>50 economy is gaining) is at +63.8, November 2020 was at +58.7, October 2020 58.2, December 2019 +48.9. “The index now stands at the highest level since July 2018, boosted by a pick-up in activity at the beginning of 2021.” PR link.

The American Automobile Assn says the 01/29/21 Average Price/Gallon for Gas(Regular) is at $2.422, 12/31/20 was at $2.253, 11/30/20 $2.142, 01/31/20 $2.485. PR link.

***Thursday, January 28

Walmart(PBR1 $WMT) expanding media business, renamed from Walmart Media Group to Walmart Connect, to accelerate the connection between partner brands and its 150 million weekly customers. PR link.

Ford(PBR13 $F) announces that the Mustang Mach-E, its first global pioneering SUV built on an all-new, all-electric platform, will be manufactured in China by Changan Ford for local customers. PR link.

General Motors(PBR19 $GM) plans to be carbon neutral by 2040 in its global products and operations, has worked with the Environmental Defense Fund to develop a shared vision of an all-electric future and an aspiration to eliminate tailpipe emissions from new light-duty vehicles by 2035. PR link.

Lowe’s(PBR44 $LOW) to provide $80 million in additional bonuses on 02/05/21 for frontline workers, $300 for full-time hourly associates, $150 for part-time and seasonal associates, is 7th bonus round, also is hiring more than 50,000 seasonal and full-time retail associates for spring. PR link.

Altria(PBR114 $MO) authorizes a new $2 billion share repurchase program, to complete by 06/30/22. PR link.

VISA(PBR142 $V) authorizes a new $8 billion share repurchase program, total funds available now around $11 billion. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM to become exclusive sports betting partner in the US for digital sports media company The Athletic, includes the creation of The Athletic Betting Hub, a new content vertical for The Athletic. PR link.

Chipotle(PBR489 $CMG) is testing Chipotle Carside at 29 restaurants in California, mobile Chipotle app orders delivered to parked cars. PR link.

AMC Entertainment(PBR502 $AMC) reports that affiliates of Silver Lake and certain co-investors to convert all $600.0 million of the Company’s 2.95% Convertible Senior Secured Notes due 2026 into shares of the Company’s Class A common stock at $13.51/share, will result in the issuance of 44,422,860 Class A shares. PR link.

Marriott Vacations(PBR598 $VAC) to acquire Welk Resorts, a large independent timeshare company with 8 properties primarily on the West coast, for around $430 million, will rebrand as Hyatt Residence Club resorts, to close in early 2Q21. PR link.

Verso Corp(PBR827 $VRS) appoints Randy J. Nebel as President/CEO, had been interim since 10/20. PR link.

The US Dept of Commerce/BEA says the Advance 4Q20 Real Gross Domestic Product Annual Rate is +4.0%, $21.480 trillion, 3Q20 was at $21.170 trillion, 2Q20 $19.520 trillion, 4Q19 $21.747 trillion. PR link.

The Conference Board says the Preliminary December 2020 US Leading Economic Index(2016=100) is at 109.5, November 2020 was at 109.2, October 2020 108.5, December 2019 110.7. “While the resurgence of COVID-19 and weak labor markets remain barriers to growth, The Conference Board expects the economy to expand by at least 2.0 percent (annual rate) in Q1 and then gain momentum throughout the year.” PR link.

The US Dept of Labor says that for the Week Ending 01/16/21 the US Total Insured Unemployment is at 4,771,000, 12/19/20 was at 5,219,000, 11/14/20 6,071,000, 01/18/20 1,704,000. PR link.

The US Dept of Commerce/HUD says the Preliminary December 2020 US New Family Homes Sold Annual Rate is at 842,000, November 2020 was at 829,000, October 2020 949,000, December 2019 731,000; the December 2020 US Median New Family Home Price is at $355,900, November 2020 was at $343,900, October 2020 $345,500, December 2019 $329,500. PR link.

FreddieMac says on 01/28/21 the US Average 30 Year Fixed Mortgage Rate is at 2.73% with 0.7 points/fees, 12/31/20 was at 2.67%, 11/25/20 2.72%, 01/29/20 3.51%. “As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week, just slightly. Even as house prices increase at the fastest rate we’ve seen in years, competition to buy is strong given the low inventory that exists across the country. The fact that there are not enough homes to meet demand is going to be an ongoing issue for the foreseeable future.” PR link.

***Wednesday, January 27

Walmart(PBR1 $WMT) to begin administering COVID-19 vaccines in Maryland, Texas, Delaware, Indiana and the District of Columbia to eligible populations as determined by each district and state. PR link.

Walmart(PBR1 $WMT) expanding its network of local automated fulfillment centers, some as add-on facilities to an existing store, others to be utilizing space in existing stores. PR link.

Apple(PBR3 $AAPL) in 1Q21 has record $111.4 billion in revenues, up 21% from 1Q20, 1Q21 diluted earnings/share at $1.68, international sales accounted for 64% of 1Q21 revenues. PR link.

AT&T(10 $T) in 4Q20 report says it has a total of 182.6 million total subscribers and connections, up from 165.9 million at end of 2019, ended 2020 with 17.2 million total video connections, had 20.4 million at end of 2019, total 2020 revenues are at $171.8 billion, 2019 was at $181.2 billion. PR link.

Anthem(PBR20 $ANTM) in 4Q20 report says it now has 42.9 million members, up 4.7% from 2019, repurchased shares for $2.7 billion in 2020, authorizes an increase of $5 billion for share repurchase program, balance available is now around $6.1 billion. PR link.

JPMorgan Chase(PBR24 $JPM) to launch a mobile app based digital retail bank in the UK in the coming months, is headquartered in London, already has 400 employees. Businesswire PR link.

Boeing(PBR40 $BA) issues statement regarding European Union Aviation Safety Agency‘s approval to resume 737 MAX operations in Europe. PR link.

Pfizer(PBR97 $PFE)/BioNTech SE to use Sanofi facilities in Frankfurt, Germany, starting in the summer, to manufacture 125 million COVID-19 vaccine doses for distribution in Europe. Sanofi PR link.

Eli Lilly(PBR137 $LLY), Vir Biotechnology(NASDAQ: VIR) and GlaxoSmithKline plc (LSE/NYSE: GSK) to collaborate to evaluate a combination of two COVID-19 therapies in low-risk patients with mild to moderate COVID-19. PR link.

Salesforce(184 $CRM) announces Vaccine Cloud, technology to help government agencies, healthcare organizations, businesses, nonprofits and educational institutions worldwide more rapidly, safely and efficiently deploy and manage their vaccine programs. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM launches its sports betting and iGaming app in VirginiaPR link.

Regeneron(PBR382 $REGN) says tests show REGEN-COVTM (casirivimab and imdevimab antibody cocktail) successfully neutralizes the circulating SARS-CoV-2 variants first identified in the UK (B.1.1.7) and South Africa (B.1.351). PR link.

Navistar(PBR397 $NAV) to collaborate with GM(PBR19 $GM) and Navistar’s OneH2 subsidiary to launch a hydrogen fuel cell truck ecosystem, will be initially piloted by JB Hunt Transport(PBR335 $JBHT), Navistar’s first production model International® RH™ Series hydrogen fuel cell electric vehicle (FCEV) to be commercially available in model year 2024. PR link.

AMC Entertainment(PBR502 $AMC) has sold in aggregate 63.3 million additional shares of its Class A common stock since 01/25/21 for additional proceeds of $304.8 million, completes at the market equity program. PR link.

Coty(PBR563 $COTY) is consolidating its global fragrance operations, to close manufacturing site in Cologne, Germany, to be completed by Summer 2022, will affect around 300 employees. PR link.

First Horizon National(PBR860 $FHN) authorizes up to $500 million share repurchase program, expires 01/31/23. PR link.

Brown-Forman(PBR603 $BF.B) Chairman G. Garvin Brown IV to retire in 07/21 after serving 14 years, will be succeeded by Campbell P. Brown, who will assume the Chair role at the company’s Annual Meeting of Stockholders. PR link.

The US Federal Open Market Committee releases a statement from its 01/26-27/21 meeting, says, “The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic… The path of the economy will depend significantly on the course of the virus, including progress on vaccinations. The ongoing public health crisis continues to weigh on economic activity, employment, and inflation, and poses considerable risks to the economic outlook… The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent… will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.” PR link.

The Quarterly ADP Workforce Vitality Report says the 4Q20 Wage Growth is at +4.4%, 3Q20 was at +5.3%, 2Q20 +6.0%, 4Q19 +3.1%. “… the labor market recovery will continue to plod along in the near-term as the easy part of the recovery is mostly in the rearview and the hard work of new business creation lies ahead.” PR link.

The US Energy Information Administration says that on 01/22/21 the US Crude Oil Stocks(Millions of Barrels) is at 476.7, 12/25/20 was at 493.5, 11/20/20 488.7, 01/24/20 431.7. PR link.

***Tuesday, January 26

Verizon(PBR20 $VZ) ends 2020 with 94.4 million total wireless retail connections, had 94.5 million at end of 2019, total 2020 revenues were at $128.3 billion, had $131.9 billion in 2019. PR link.

Target(PBR36 $TGT) announces a limited-edition collection with Levi Strauss(PBR476 $LEVI), featuring an assortment of home and lifestyle items and marking Levi’s® first Home partnership, to launch on 02/28/21. PR link.

Raytheon Technologies(PBR39 $RTX) in 4Q20 transcript CFO says it has reduced commercial headcount at Collins by another 1,500, bringing the total to 16,500, and contractors by another 500, bringing the total to approximately 4500 contractors, has reducted total commercial aero headcount by around 20%. The Motley Fool The Motley Fool PR link.

Tesla(PBR118 $TSLA) in 4Q20 report says had $10.744 billion in sales for the quarter, +46% from $7.384 billion in 4Q19. PR link.

VISA(PBR142 $V) and TransferWise, which provides multi-currency debit cards services in Asia Pacific, Europe, Latin America and the Caribbean, the Middle East, UK and US, form global partnership for first use of Visa Cloud Connect services. PR link.

Twitter(PBR680 $TWTR) has acquired Revue, a service that makes it free and easy for anyone to start and publish editorial newsletters, terms not disclosed. PR link.

Elanco Animal Health(PBR732 $ELAN) to close some R&D sites in New Zealand and Germany in restructuring post Bayer acquisition, will eliminate around 350 positions worldwide. PR link.

Walgreens Boots Alliance(PBR18 $WBA) appoints Starbucks COO Rosalind (Roz) Brewer as its next CEO, to be effective 03/15/21, will succeed Stefano Pessina who will transition to Executive Chairman. PR link.

Las Vegas Sands(PBR226 $LVS) appoints Acting Chairman/CEO and President/COO Robert Goldstein as Chairman/CEO, succeeds Sheldon Adelson who passed away on 01/12/21, COO and CFO appointments also announced. PR link.

The Conference Board says the Preliminary January 2021 US Consumer Confidence Index(1985=100) is at 89.3, December 2020 was at 87.1, November 2020 92.9, January 2020 130.4. “Consumers’ expectations for the economy and jobs… advanced further, suggesting that consumers foresee conditions improving in the not-too-distant future. In addition, the percent of consumers who said they intend to purchase a home in the next six months improved, suggesting that the pace of home sales should remain robust in early 2021.” PR link.

The S&P/CoreLogic/Case-Shiller November 2020 US National Home Price Index(01/2000=100) is at 232.38, October 2020 was at 229.93, September 2020 226.82, November 2019 212.24. “Recent data are consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This may represent a true secular shift in housing demand, or may simply represent an acceleration of moves that would have taken place over the next several years anyway. Future data will be required to address that question.” PR link.

TrueCar says the Forecasted January 2021 US Total New Car Units Sold will be at 1,048,975, December 2020 was at 1,619,907, January 2020 1,143,027; Forecasted January 2021 Average New Car Price will be at $37,330, December 2020 was at $39,089, January 2020 $35,821. PR link.

The US Federal Reserve Bank of Philadelphia says the January 2021 US 3rd District Non-Manufacturing Current General Activity Index is at -17.5, December 2020 was at -26.6. “The respondents continued to anticipate growth over the next six months.” PR link.

The US Federal Reserve Bank of Richmond says the January 2021 US 5th District Manufacturing Index(Annualized) is at +14%, December 2020 was at +19%, November 2020 +15%, January 2020 +20%. “The composite index… remained in expansionary territory… Overall, manufacturers were optimistic that conditions would continue to improve in the coming months.” PR link.

The US Federal Reserve Bank of Richmond says the January 2021 US 5th District Service Sector Revenue Index(Annualized) is at -3%, December 2020 was at -9%, November 2020 +13%, January 2020 +10%. “Firms were optimistic that conditions would improve in the next six months.” PR link.

***Monday, January 25

CVS Health(PBR5 $CVS) has administered the first round of COVID-19 vaccine doses, nearly two million shots, to nearly 8,000 skilled nursing facilities across the US, second doses is well underway and expected to be complete within four weeks. PR link.

Verizon(PBR20 $VZ), in an evaluation with AT&T(PBR10 $T) and T-Mobile(PBR71 $TMUS), sweeps the 2H20 US RootScore Awards, bringing home by far the most state and metro area awards, and delivering excellent speeds, outstanding reliability, and an expanded 5G footprint in major cities. IHS Markit RootMetrics PR link.

UPS(PBR43 $UPS) to sell UPS Freight unit to TFI International(NYSE and TSX: TFII) for $800 million, UPS gets agreement for UPS Freight to continue to utilize UPS’ domestic package network to fulfill shipments for a period of five years, to close in 2Q21. PR link.

Merck(PBR68 $MRK) says based on Phase 1 results it is discontinuing development of its SARS-CoV-2/COVID-19 vaccine candidates, V590 and V591, and plans to focus its SARS-CoV-2/COVID-19 research strategy and production capabilities on advancing two therapeutic candidates, MK-4482 and MK-7110. PR link.

Honeywell(PBR85 $HON) to divest five performance and lifestyle footwear brands it deems non-core to its business: The Original Muck Boot Company, XTRATUF fishing boots and deck shoes, Ranger, NEOS overshoes and Servus protective rubber boots, to Rocky Brands, a leading manufacturer of premium footwear and apparel, for approximately $230 million, to close by end of 1Q21. PR link.

Baker Hughes(PBR123 $BKR) files statement with US SEC noting that GE(PBR33 $GE) sold 38,007,041 shares of Class A Common Stock on 01/22/21, GE has 311+ million shares remaining, represents 30.1% of BKR Class A shares issued. PR link.

Carnival Corp(PBR153 $CCL) releases plans for additional ship deployments from its US West coast ports. PR link.

Edison Intl(PBR250 $EIX)’s Southern California Edison unit settles 2017 and 2018 wildfire and mudslide events with approximately 1000 individual plaintiffs for $2.2 billion. PR link.

Alaska Air(PBR347 $ALK) takes delivery of its first Boeing(PBR40 $BA) 737-9 MAX aircraft, to get 68 over 4 year period, passenger service to start 03/01/21. PR link.

NCR(PBR422 $NCR) to acquire Cardtronics (Nasdaq: CATM), the world’s largest non-bank ATM operator and service provider, for $39.00/share, around $2.5 billion cash, to close mid 2021, Cardtronics has terminated its acquisition agreement with Apollo Global Mgmt(PBR759 $APO), NCR paid the termination fee of $32.6 million. PR link.

AMC Entertainment(PBR502 $AMC) has raised $917 million in fresh investment capital since mid-December, should allow the company to make it through this dark coronavirus-impacted winter, CEO Aron says, “… any talk of an imminent bankruptcy for AMC is completely off the table.” PR link.

IAC(PBR557 $IAC) raised $300 million in primary equity for its Vimeo unit, which now has a valuation of $5+ billion, Vimeo spin-off planned for 2Q21. PR link.

Apollo Global Mgmt(PBR759 $APO) Chairman/CEO Leon Black to retire as CEO on or before 07/31/21, will remain Chairman, Marc Rowan appointed to be successor. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary December 2020 US National Activity Index is at +0.52, November 2020 was at +0.31, October 2020 +1.01, December 2019 -0.26. “Index points to an uptick in economic growth in December.” PR link.

Blackstone(PBR402 $BX) Vice Chairman Byron Wien’s Market Insights provides an interesting review of the 2021 Ten Surprises and Three Also Rans in its 36th annual edition. PR link.

***Friday, January 22

The PBRMarketTools US Stock Exchanges Recap for Week 3 of 2021 ending 01/22/21:

DJIA ends Week 3 at 30,996.98, +0.59% from last Friday, +1.28% MTD/QTD/YTD, -0.61% from record 31,188.38 set 01/20/21.

NASDAQ ends Week 3 at record 13,543.06,+4.19% from last Friday, +5.08 MTD/QTD/YTD, +0.00% from record 13,543.06 set 01/22/21.

SPX ends Week 3 at 3,841.47, +1.94% from last Friday, +2.27% MTD/QTD/YTD, -0.30%% from record 3,841.47 set 01/21/21.

The Week 3 of 2021 News Summary:

Coronavirus Pandemic: As of today, Friday, 01/22/21, at 14:22PM Eastern US, the John Hopkins University CSSE unit says there are now 97,986,357 confirmed cases globally with 2,101,894 deaths, an increase from last Friday of 97,625, which is +6,735 from last Friday. For the US it is 24,771,973 confirmed cases and 412,936 deaths, an increase from last Friday of 21,838, which is -491 from than last Friday. Now President-Elect Joe Biden has pledged that 100 million people will be vaccinated in the first 100 days of his taking office. Logistical and manufacturing issues still seem to be having an effect, 2 more vaccine candidates are expected to be approved by the US FDA and available in a few weeks in addition to the Pfizer/BioNTech and Moderna that are the only ones available currently.

US Presidential Transition: It was a rather subdued transition compared to recent transfers of power because of restrictions from the Coronavirus Pandemic and the presence of 25,000 National Guard troops for security purposes after the break-in at the Capital Building on January 6th. As scheduled, two weeks later on January 20th, Joe Biden became the 46th President of the US and Kamala Harris the Vice President, to much pomp and circumstance and no public protests. In his acceptance speech President Biden appealed for unity among the American people, and reiterated that his first priority was to conquer the Coronavirus Pandemic. Washington Mall was filled with American flags instead of people. There was a televised remote parade of the states presentation afterwards, and an evening of nice and hopeful messages, presentations, singing, and a spectacular Mall fireworks show. President Biden quickly went into action by signing several executive orders, several of them reversing some of former President Trump directives. VP Harris installed 3 new Democrats into the Senate, two from the runoff elections in Georgia and one from California who has taken the seat she previously held. With a 50-50 Senate split, VP Harris is now the tiebreaker when there is a 50-50 vote on a measure. The Senate committees have started the process of interviewing nominees for cabinet and other high posts. President Biden at age 78 makes history by becoming the oldest President to start serving in that position, and Kamala Harris is the first woman, the first Black, and the first person of Asian American descent to take on the role of Vice President.

US Economy: The number of weekly initial unemployment insurance claims decreased a little. Housing starts had a nice increase, existing home sales had a slight increase, home builders say conditions are still good despite increases in prices for lumber, and the Philly Fed’s manufacturing survey index took had a greater than expected increase.

International News: . Initial indications are that President Biden will also take a hard stance against China regarding trade and intellectual property issues. Brexit is a work in process. Much of the European economy is struggling because of the Coronavirus Pandemic caused lockdowns, and Europe is now viewed as being in a recession.

US Stock Exchanges: The exchanges were closed on Monday in observance of the birthday of Martin Luther King, Jr, and his legacy. On Tuesday The Stock Market Bull charged onto the field feeling optimistic about the transition of power and the economy, and continued to do so throughout the week as all 3 major indices hit new records on inauguration day. The Stock Market Bear could only counter by taking the last 2 days of the DJIA and last day of the S&P500. The Stock Market Bull easily takes Week 3 3-0. “Experts” are again divided over those that say the run can continue forever and those who say the markets are way overdue for a major crash. Sounds a little bit like last year when both came true.

The Week 3 of 2021 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 1 week
Mixed Results: 0 weeks

Kroger(PBR22 $KR) and Ocado(LSE: OCDO) announces Phoenix, AZ, for a Customer Fulfillment Center, will be around 200,000 sf, employ up to 700, to be operational in 24 after breaking of ground, will serve Arizona markets. PR link.

Boeing(PBR40 $BA) is committing that its commercial airplanes are capable and certified to fly on 100% sustainable aviation fuels by 2030. PR link.

Pfizer(PBR63 $PFE) and BioNTech SE get an initial agreement to provide up to 40 million doses of its COVID-19 vaccine to COVAX, which serves 92 countries, in 2021, first deliveries to occur in 1Q21, will be at a not-for-profit price. PR link.

Bristol-Myers Squibb(PBR109 $BMY) gets US FDA approval for OPDIVO®(nivolumab) 240 mg (injection for intravenous use) every two weeks or 480 mg every four weeks in combination with CABOMETYX® (cabozantinib) 40 mg once daily tablets for the first-line treatment of patients with advanced renal cell carcinoma. PR link.

Eli Lilly(PBR137 $LLY) completes $22.50/share, $880 million cash plus a contigent value right worth up to an additional $4.00/share based on milestone achievements, for up to $1.04 billion cash acquisition of developer of potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases Prevail Therapeutics(NASDAQ: PRVL)PR link.

DuPont(PBR144 $DD), Corteva(PBR225 $CTVA) and Chemours(PBR496 $CC) agree to resolution of legacy PFAS chemicals legacy claims, DuPont & Corteva together, on one hand, and Chemours, on the other hand, agree to a 50-50 split of certain qualified expenses incurred over a term not to exceed twenty years or $4 billion. PR link.

Carnival Corp(PBR153 $CCL) is extending its pause for US departures through 04/30/21, cancelling Australian operations through 05/19/21, and European itineraries for Carnival Legend are being planned to start 05/29/21. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM launches its sports betting and iGaming app in MichiganPR link.

Boston Scientific(PBR289 $BSX) gets US FDA approval for its fourth-generation Vercise Genus™ Deep Brain Stimulation (DBS) System, used for treating symptoms of Parkinson disease, a progressive, neurodegenerative disorder. PR link.

JetBlue(PBR374 $JBLU) enters into a Payroll Support Program Extension Agreement with the US Dept of the Treasury for $252 million, also issues to Treasury warrants to purchase 316,583 shares of JetBlue’s common stock for $14.43/share. PR link.

The Natl Assn of Realtors says the Preliminary December 2020 US Existing Home Sales Annual Rate is at 6,760,000, November 2020 was at 6,710,000, October 2020 6,860,000, December 2019 5,530,000; December 2020 Median Home Price is at $309,800, November 2020 was at $310,800, October 2020 $313,000, December 2019 $274,500; December 2020 Existing Homes for Sale Inventory is at 1,070,000, about 1.9 months supply; December 2020 Average 30 Year Fixed Mortgage Rate is at 2.68%. “Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic… What’s even better is that this momentum is likely to carry into the new year, with more buyers expected to enter the market.” PR link.

***Thursday, January 21

Alphabet(PBR12 $GOOG)’s Google France unit to provide remuneration to French news publications based on criteria agreed to with the Alliance de la Presse d’Information GénéralePR link.

Alphabet(PBR12 $GOOG)’s Loon unit to shut down after over 7 years, was trying to provide low cost internet connectivity through the use of stratospheric balloons. PR link.

Ford(PBR13 $F) expects to record a pre-tax remeasurement loss in its 4Q20 results of approximately $1.5 billion related to its pension and other postretirement employee benefits. PR link.

Boston Scientific(PBR289 $BSX) to acquire privately held $158 million in sales in 2020 Preventice Solutions, offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors – including short and long-term Holter monitors – to cardiac event monitors and mobile cardiac telemetry, for an upfront cash payment of $925 million, and up to an additional $300 million in a potential commercial milestone payment. PR link.

Alaska Air(PBR347 $ALK) gets $533 million Payroll Support Program loan assistance from the US Dept of the Treasury, to be used exclusively toward continuing to pay employee salaries, wages and benefits, includes granting of 95,532 warrants to purchase Alaska Air Group (ALK) common stock at a strike price of $52.25. PR link.

The US Dept of Commerce/HUD says the Preliminary December 2020 US New Residential Building Permits Issued Annual Rate-Private Housing is at 1,709,000, November 2020 was at 1,635,000, October 2020 1,544,000, December 2019 1,457,000. PR link.

The US Federal Reserve Bank of Philadelphia says the January 2021 US 3rd District Manufacturing General Business Indicator is at 26.5, December 2020 was at 9.1, November 2020 20.7, January 2020 13.7. “Changes in future indexes were mixed this month, but levels remained positive, suggesting that overall growth is expected to continue over the next six months.” PR link.

***Wednesday, January 20

***Joseph R. Biden inaugurated as
***46th President of the United States
***Kamala Harris inaugurated as
***Vice President of the United States

Merck(PBR68 $MRK) gets US FDA approval for VERQUVO, a soluble guanylate cyclase (sGC) stimulator, to reduce the risk of cardiovascular death and heart failure hospitalization following a hospitalization for heart failure or need for outpatient intravenous (IV) diuretics in adults with symptomatic chronic heart failure and ejection fraction less than 45%. PR link.

Tyson Foods(PBR76 $TSN) agrees to settle all claims regarding the Broiler Antitrust Civil Litigation, will pay $221.5 million to affected classes. PR link.

CACI(PBR478 $CACI) Chairman of the Board/Executive Chairman and former CEO Dr. J. Philip (Jack) London passes away at age 83, Michael A. Daniels elected Chairman. PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary January 2021 Housing Market Composite Index is at 83, December 2020 was at 86, November 2020 90, January 2020 75. “Rising material costs led by a huge upsurge in lumber prices along with a resurgence of the coronavirus across much of the nation pushed builder confidence in the market for newly built single-family homes down three points to 83 in January… Despite the drop, builder sentiment remains at a strong level.” PR link.

***Tuesday, January 19

Walmart(PBR1 $WMT) to provide domestic and international money transfers, bill payments and money orders services at its stores through an agreement with Western Union(PBR518 $WU), to roll out starting in Spring 2021. PR link.

General Motors(PBR19 $GM) and Cruise enter a long-term strategic relationship with Microsoft(PBR17 $MSFT) to accelerate the commercialization of self-driving vehicles, includes General Motors, Honda, Microsoft, and institutional investors in a combined new equity investment of more than $2 billion in Cruise, bringing the post-money valuation of Cruise to $30 billion. PR link.

Bank of America(PBR25 $BAC) authorizes the repurchase of $2.9 billion in common stock through 03/31/21, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, estimated to be approximately $0.3 billion, maximum allowed per US Federal Reserve rules. PR link.

FedEx(PBR49 $FDX) proposes to reduce its European workforce by 5,500-6,300 across operational teams and back-office functions as it nears the completion of the network integration of TNT. PR link.

Cisco(PBR66 $CSCO) gets China’s State Administration for Market Regulation approval for $115/share $4.3 billion cash acquisition of designer and manufacturer of high-speed, optical interconnect technologies Acacia Communications under several conditions aimed to protect supply to the companies’ Chinese customers. MarketWatch PR link.

American Airlines(PBR69 $AAL) gets a Payroll Support Program Extension Agreement with the US Dept of Treasury for $3.1 billion, be used exclusively for the continuation of payment of employee wages, salaries and benefits, the requirement against involuntary furloughs and reductions in employee pay rates and benefits through 03/31/21. PR link.

ViacomCBS(PBR103 $VIAC) to launch its streaming service Paramount+ on 03/04/21 in the US, will also be launching in Latin America, the Nordics, and later in Australia. PR link.

Thermo Fisher Scientific(PBR113 $TMO) to acquire 500 employees $45 million in 2020 revenues Mesa Biotech, a privately held molecular diagnostic company, includes its Accula System which has received Emergency Use Authorization (EUA) from the US FDA for SARS-CoV-2 in vitro diagnostic testing and is now available for use in patient care settings, providing results within 30 minutes, with higher accuracy than other rapid tests on the market, for approximately $450 million in cash plus up to $100 million for milestone achievements, to close in 1Q21. PR link.

Eli Lilly(PBR137 $LLY) and Merus NV (NASDAQ: MRUS), a clinical-stage oncology company developing multi-specific antibodies, agree to a research collaboration and exclusive license agreement, will leverage Merus’ proprietary Biclonics® platform along with the scientific and rational drug design expertise of Loxo Oncology at Lilly to research and develop up to three CD3-engaging T-cell re-directing bispecific antibody therapies, Eli Lilly to make up front payment of $40 million plus an equity investment in Merus of $20 million, plus up to around $1.6 billion for milestone achievements. PR link.

Netflix(PBR158 $NFLX) says in 4Q20 report that it has crossed the 200 million paid memberships mark, 37 million new members in 2020. PR link.

Cognizant(PBR188 $CTSH) to acquire Magenic Technologies, a privately-held custom software development services company headquartered in Minneapolis, MN, with 475 employees in the US and 350+ employees in Manila, Philippines, to close in 1Q21, terms not disclosed. PR link.

MGM Resorts(PBR241 $MGM) says it does not intend to submit a revised proposal and it will not make a firm offer for for gaming partner Entain plcPR link.

Bed Bath & Beyond(PBR276 $BBY) completes sale of its Cost Plus World Market brand to private equity firm Kingswood Capital Management, includes 243 brick-and-mortar locations, the CPWM digital business, 2 distribution facilities and a corporate office located in Alameda, CA, terms not disclosed. PR link.

Royal Caribbean(PBR284 $RCL) to sell its Azamara brand to private equity firm Sycamore Partners for $201 million cash, to close in 1Q21. PR link.

eBay(PBR288 $EBAY) says it has initiated a process to explore, review and evaluate a range of strategic alternatives for its Korea business. PR link.

Charles Schwab(PBR290 $SCHW) says in 4Q20 report that total client assets reached a record of $6.69 trillion spread across 29.6 million brokerage accounts, up 66% and 140%, respectively, from a year ago. PR link.

Office Depot(PBR292 $ODP) responds to proposal by be acquired by parent of Staples, says it is open to combining its retail and consumer-facing ecommerce operations with Staples under the right set of circumstances and on mutually acceptable terms, offers two options, a joint venture or an acquistion. PR link.

Oshkosh(PBR425 $OSK) completes $115 million acquisition of Pratt Miller which specializes in advanced engineering, technology and innovation across the motorsport and multiple ground vehicle markets. PR link.

Norwegian Cruise Lines(PBR451 $NCLH) extends suspension of all voyages through 04/30/21. PR link.

Harley-Davidson(PBR510 $HOG) releases its 2021 motorcycle lineup. PR link.

Hill-Rom(PBR767 $HRC) to acquire Bardy Diagnostics(BardyDx), an innovator in digital health and a leading provider of ambulatory cardiac monitoring technologies, for $375 million cash and future potential payments based on the achievement of certain commercial milestones, to close by 03/31/21. PR link.

***Monday, January 18

***US Federal Government Holiday.
***Martin Luther King, Jr, Birthday Observed.
***US Stock Exchanges Closed.

***Friday, January 15

The PBRMarketTools US Stock Exchanges Recap for Week 2 of 2021 ending 01/15/21:

DJIA ends Week 2 at 30,814.26, -0.91% from last Friday, +0.68% MTD/QTD/YTD, -0.91% from record 31,097.97 set 01/08/21.

NASDAQ ends Week 2 at 12,998.50, -1.54% from last Friday, +0.86 MTD/QTD/YTD, -1.54% from record 13,201.98 set 01/08/21.

SPX ends Week 2 at 3,768.25, -1.48% from last Friday, +0.32% MTD/QTD/YTD, -1.48%% from record 3,824.68 set 01/08/21.

The Week 2 of 2021 News Summary:

Coronavirus Pandemic: As of Friday, 01/15/21, at 14:22PM Eastern US, the John Hopkins University CSSE unit says there are now 93,626,393 confirmed cases globally with 2,004,269 deaths, an increase from last Friday of 90,890, which is 6,932 less than last Friday. For the US it is 23,475,380 confirmed cases and 391,098 deaths, an increase from last Friday of 22,329, which is 1,425 less than last Friday. The Pfizer/BioNTech and Moderna vaccinations continue with mixed success because of logistical issues and states struggling to have a priority plan. President-Elect Joe Biden has pledged that 100 million people will be vaccinated in the first 100 days of his taking office.

US Presidential Transition: President-Elect Joe Biden and his transition team continue to make preparations for the January 20th inaugural, which is becoming a bit toned down because of the insurrection attempt at the Capital Building last week. High level officials continue to be nominated and will be presented to the US Senate when it reconvenes next Tuesday. However, another critical item on the US Senate agenda will be the impeachment trial of President Trump after the vote to impeach in the US House was completed this week, making President Trump the only US president to be impeached twice. The US Senate will be split with 50 Republicans, 48 Democrats, 2 Independents who caucus with the Democrats. With the split, Vice-President Elect Kamala Harris will break tie votes. An impeachment of the US president requires a two-thirds votes to the affirmative.

US Economy: The number of weekly initial unemployment insurance claims increased due to the Coronavirus pandemic. Retail sales were disappointingly down slightly. Average employee earnings are up, the Consumer Price Index was up a little bit, the Federal Reserve’s Beige Book indicated modest growth, Import and Export taxes were up, the Producer Price Index was up slightly. President-Elect Biden is proposing a $1.9 trillion relief and stimulus plan that includes a $1,400 individual benefit payment.

International News: . The Coronavirus Pandemic numbers continue to increase in the Europe amid more lockdowns and restrictions. The UK and European Union are starting to readjust their economies as a result of the year end completion of Brexit. The N Korea leader has indicated his country did not achieve economic goals, is making new plans, and also says they will increase their nuclear arms capabilities.

US Stock Exchanges: After a big first week of records for The Stock Market BullThe Stock Market Bear wanted to make sure he got some attention as well and has an agenda as well. With the aftermath of the insurrection attempt the previous week, the impeachment vote in the US House, the continued Coronavirus pandemic issues and concerns for jobs and the economy, and some uncertainties of a new US president, he had some news to back him up and easily took Week 2 of 2021. Next week starts with the US stock exchanges closed in remembrance of Martin Luther King, Jr, the subdued inauguration of a new US president on Wednesday, and a light week of scheduled economic news. Welcome to a New Year of confusing starts!

The Week 2 of 2021 tally YTD is:
The Stock Market Bull: 1 week
The Stock Market Bear: 1 week
Mixed Results: 0 weeks

GE(PBR33 $GE) sues Siemens Energy for using stolen trade secrets to rig contract bids in Virginia. Reuters PR link.

Thermo Fisher Scientific(PBR113 $TMO) has completed the acquisition of Henogen S.A., Novasep’s viral vector manufacturing business in Belgium, for approximately $810 million in cash. PR link.

Tesla(PBR118 $TSLA)’s Model Y, its mid-size Sport Utility Vehicle (SUV), earns a 5-star safety rating in every category from the US National Highway Traffic Safety Administration (NHTSA)PR link.

US Steel(PBR239 $X) completes the $774 million cash acquisition of the remaining equity of Big River Steel located in northeast Arkansas it did not previously own. PR link.

Frontier Communications(PBR372 $FTRCQ) gets US Federal Communications Commission approval for its Chapter 11 Bankruptcy restructring plan, also has approval of 13 states, plans to emerge from Chapter 11 in early 2021. PR link.

Huntsman(PBR429 $HUN) completes $250 million acquisition of around $106 million of revenues in 2019 Gabriel Performance Products, a N American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity. PR link.

The US Dept of Labor says the Preliminary December 2020 US Totally Monthly Final Demand Producer Price Index is at +0.3%, November 2020 was at +0.1%, October 2020 +0.3%, December 2019 +0.3%. PR link.

The US Federal Reserve says the Preliminary December 2020 US Industrial Production % of Capacity is at 74.5%, November 2020 was at 73.4%, October 2020 73.0%, December 2019 77.2%. PR link.

The US Dept of Commerce/Census says the Preliminary November 2020 US Sales-Manufacturers is at $492.9 billion, Retailers $491.1 billion, Wholesalers $496.7 billion, making Preliminary November 2020 US Total Sales at $1,480.8 billion, October 2020 was at $1,482.1 billion, September 2020 $1,468.5 billion, November 2019 $1,458.4 billion. PR link.

The US Dept of Commerce/Census says the Advance December 2020 US Retail Sales-Retailers is at $489.7 billion, Food Services & Drinking Places $51.2 billion, making Advance December 2020 US Total Retail Sales at $540.9 billion, November 2020 was at $544.6 billion, October 2020 $552.2 billion, December 2019 $525.7 billion. PR link.

The US Federal Reserve Bank of New York says the January 2021 Empire State Manufacturing General Business Conditions Index is at 3.5, December 2020 was at 4.9, November 2020 6.3, January 2020 4.8. “… firms remained optimistic that conditions would improve over the next six months.” PR link.

The U of Michigan Preliminary January 2021 Consumer Sentiment Index is at 79.2, December 2020 was at 80.7, November 2020 76.9, January 2020 99.8. “Consumer sentiment posted trivial declines in early January despite the horrendous rise in covid-19 deaths, the insurrection, and the impeachment of Trump.” PR link.

***Thursday, January 14

Alphabet(PBR12 $GOOG)’s Google unit completes $2.1 billion cash acquisition of Fitbit(PBR971 $FIT)PR link.

FannieMae(PBR23) and FreddieMac(PBR41) get US Federal Housing Finance Agency and the Dept of the US Treasury approval to continue to retain earnings, says retained earnings alone are insufficient to adequately capitalize the companies, can raise private capital and exit conservatorship once certain conditions are met. FHFA PR link.

Pfizer(PBR63 $PFE) gets US FDA approval for supplemental New Drug Application (sNDA) for XALKORI® (crizotinib) for the treatment of pediatric patients 1 year of age and older and young adults with relapsed or refractory, systemic anaplastic large cell lymphoma (ALCL) that is anaplastic lymphoma kinase (ALK)-positive. PR link.

Cisco(PBR66 $CSCO) to acquire designer and manufacturer of high-speed, optical interconnect technologies Acacia Communications for $115.00/share(original offer was $70.00/share), around $4.3 billion cash(original was around $2.6 billion), to close in 1Q21. PR link.

Leidos(PBR280 $LDOS) completes $215 million cash acquisition of Reston, VA based 1901 Group, a leading provider for managed IT services and cloud solutions in the private and public market with 26 locations across the US. PR link.

Newmont Goldcorp(PBR318 $NEM) approves up to $1.0 billion share repurchase program to be completed over next 18 months. PR link.

WW(PBR972) and Serta in partnership to offer holistic wellness solutions for the new year, in exclusive through 03/31/21 with Sam’s Club Serta mattress purchasers to receive 3 free months of WW’s Digital subscription service, service to include other mattress retailers later. PR link.

Monster Beverage(PBR611 $MNST) appoints CFO Hilton H. Schlosberg as Co-CEO with Chairman/CEO Rodney C. Sacks, EVP/Finance Thomas J. Kelly becomes CFO. PR link.

The US Dept of Labor says the Preliminary December 2020 US Import Price Index is at +0.9%, November 2020 was at +0.2%, October 2020 -0.1%, December 2019 +0.2%; the Preliminary December 2020 US Export Price Index is at +1.1%, November 2020 was at +0.7%, October 2020 +0.2%, December 2019 -0.2%; Year-to-Year Import Price Index is at -0.3%, Export Price Index +0.2%. PR link.

***Wednesday, January 13

T-Mobile US(PBR71) signs five-year, multi-billion-dollar agreements with both Ericsson (NASDAQ: ERIC) and Nokia (NYSE: NOK) to continue advancing and expanding the nation’s largest 5G network. PR link.

Qualcomm(PBR126 $QCOM) to acquire Santa Clara, CA based CPU and technology design team, with industry-leading expertise in high performance processors, Systems on a Chip (SoC) and power management for compute-intensive devices and applications, NUVIA, for $1.4 billion. PR link.

MasterCard(PBR184 $MA) credit cards to be issued by Synchrony Financial(PBR162 $SYF) for co-branded Mastercard credit and prepaid debit cards for Walgreens(PBR18 $WBA), will closely connect with Walgreens new customer loyalty program, myWalgreens, launched in 11/20. PR link.

Molson Coors(PBR294 $TAP) and HEXO Corp joint venture Truss CBD USA launches Veryvell™ Sparkling CBD Water in Colorado. PR link.

Dropbox(PBR943 $DBX) in letter from CEO to employees says it is reducting its global workforce by 315 people, around 11% of the workforce, new strategies being implemented to remain competitive. PR link.

Veeva Systems(PBR996) gets shareholders vote to become the first publicly held company to become a public benefit company, will remain a for-profit corporation but will be legally responsible to balance the interests of multiple stakeholders, including customers, employees, partners, and shareholders, to be effective 02/01/21. PR link.

Intel(PBR45 $INTC) appoints former employee and current VMWare CEO since 2012 Pat Gelsinger as its new CEO and member of the Board, effective 02/15/21, will succeed Bob Swan. PR link.

The US Dept of the Treasury says the December 2020 US Federal Government Receipts is at $346.1 billion, Outlays $489.7 billion, for a December 2020 Deficit of $143.6 billion, November 2020 Deficit was at $145.3 billion, October 2020 $284.1 billion, December 2019 $13.3 billion; December 2020 YTD(3 months) Deficit is $572.9 billion, December 2019 YTD Deficit was at $356.6 billion. PR link.

The US Federal Reserve releases the Beige Book for data through 01/04/21, says, “… economic activity increased modestly… Although the prospect of COVID-19 vaccines has bolstered business optimism for 2021 growth, this has been tempered by concern over the recent virus resurgence and the implications for near-term business conditions.” PR link.

The US Dept of Labor says the Preliminary December 2020 US Current Average Earnings/Hour is at $29.81, Average Hours Worked/Week at 34.7, for Current Average Weekly Earnings of $1,034.41, November 2020 was at $1,029.38, October 2020 $1,026.25, December 2019 $973.09. PR link.

The US Dept of Labor says the December 2020 US Consumer Price Index-Urban is at +0.4%, November 2020 was at +0.2%, October 2020 +0.0%, December 2019 +0.2%, Last 12 Months(Unadjusted) is at +1.2%PR link.

***Tuesday, January 12

Walmart(PBR1 $WMT) creating a new fintech service as majority owner in a partnership with global investment firm Ribbit CapitalPR link.

General Motors(PBR19 $GM) launches BrightDrop, will offer an ecosystem of electric first-to-last-mile products, software and services to empower delivery and logistics companies to move goods more efficiently; electric pallet, the EP1, will be available in early 2021, and its electric light commercial vehicle, the EV600, will be on roads in late 2021. PR link.

VISA(PBR142 $V) $5.3 billion acquisition of financial apps developer Plaid terminated by mutual agreement after lawsuit by US Dept of JusticePR link.

Ally Financial(PBR262 $ALLY) authorizes an up to $1.6 billion share repurchase program for 2021, based on results of stress test by US Federal Reserve in 12/20. PR link.

Royal Caribbean(PBR285 $RCL) is suspending almost all sailings through 04/30/21. PR link.

Pioneer Natural Resources(PBR328 $PXD) completes $7.6 billion acquisition of Parsley Energy(PBR904 $PE)PR link.

Regeneron(PBR383 $REGN) gets US government order of up to 1.25 million doses of all finished doses of the casirivimab and imdevimab COVID-19 antibody cocktail, to be delivered by 06/30/21. PR link.

Steris(PBR739 $STE) to acquire $1 billion in 2020 sales global provider of infection prevention products and services primarily to endoscopy and dental customers Cantel Medical Corp (NYSE:CMD) for $200.46/share stock & cash, equity value of around $3.6 billion, to close by 06/30/21. PR link.

Synhrony Financial(PBR162 $SYF) CEO Margaret Keane to become Executive Chairman, President Brian Doubles to become President/CEO in leadership transition scheduled for 04/01/21. PR link.

Las Vegas Sands(PBR226 $LVS) Founder/Chairman/CEO Sheldon Adelson dies at age 87 of non-Hodgkin’s Lymphoma. PR link.

The US Dept of Labor says the Preliminary November 2020 US Job Openings-Private is at 5,858,000, Government 669,000, for November 2020 US Total Job Openings of 6,527,000, October 2020 was at 6,632,000, September 2020 6,494,000, November 2019 6,793,000. PR link.

CoreLogic says the October 2020 US Housing Mortgages 30 Days or More Delinquent are at 6.1%, September 2020 was at 6.3%, August 2020 6.6%, October 2019 3.7%. “After a financially challenging year, the healthy housing market and new stimulus measures are helping borrowers get back on their feet. Given these variables, we should begin to see a reduced flow of homes in delinquency in the coming months.” PR link.

***Monday, January 11

Ford(PBR13 $F) to serve customers in the South America region with a portfolio of connected and increasingly electrified SUVs, pickups and commercial vehicles sourced from Argentina, Uruguay and other markets, as Ford Brazil ceases production operations in 2021. https://bit.ly/3qeSv8PPR link.

Bristol-Myers Squibb(PBR109 $BMY) authorizes an additional $2 billion for share repurchases, program balance is now around $6.4 billion. http://bit.ly/39qQTSOPR link.

Baxter(PBR273 $BAX)’s BioPharma Solutions unit gets an agreement to provide sterile manufacturing services for NVX-CoV2373, Novavax’ COVID-19 recombinant nanoparticle vaccine candidate with Matrix-M™ adjuvant, for production and distribution in the UK and European markets, vaccine currently in Phase 3 study. http://bit.ly/39vbzJ8PR link.

Office Depot(PBR293 $ODP) confirms it has received a proposal to be acquired by parent of Staples and a portfolio company of Sycamore Partners, Board review is underway. http://bit.ly/3qltYzfPR link.

Molson Coors(PBR294 $TAP) signs exclusive distribution deal with a team including Dwayne ‘The Rock’ Johnson, Dany Garcia, Dave Rienzi and John Shulman, to launch ZOA, a non-alcohol energy drink made with better-for-you, natural ingredients. http://bit.ly/3i8TZyEPR link.

NCR(PBR422 $NCR) confirms it has submitted an offer to acquire Cardtronics (Nasdaq: CATM) for $39.00/share cash. http://bit.ly/3nDLBs4PR link.

GameStop(PBR449 $GME) enters into agreement with one of its largest stockholders, RC Ventures, appoints 3 new directors to the Board, Board now has 13 directors, will be reduced to 9 at next annual meeting in 06/21. http://bit.ly/2Ll9xDIPR link.

Chipotle(PBR489 $CMG) to have its first national hiring event of 2021, called ‘Coast To Coast Career Day’ on Thursday, 01/14/21, has a goal of employing 15,000 new team members for its restaurants across the US. http://chip.tl/35AiTCuPR link.

KKR(PBR610 $KKR) to acquire a majority stake of the music catalog of three-time Grammy winner Ryan Tedder and OneRepublic, includes nearly 500 songs written, recorded or produced by Tedder for OneRepublic. http://bit.ly/3oHkZI1PR link.

Hillenbrand(PBR813 $HI) to sell its Abel Pumps unit to IDEX(PBR817) for $103.5 million cash. http://bit.ly/38BUhuHPR link.

***Friday, January 8

The PBRMarketTools US Stock Exchanges Recap for Week 1 of 2021 ending 01/08/21:

DJIA ends Week 1 at record 31,097.97, +1.61% from last Friday and MTD/QTD/YTD, +0.00% from record 31,097.97 set 01/08/21.

NASDAQ ends Week 1 at record 13,201.98, +2.43% from last Friday and MTD/QTD/YTD, +0.00% from record 13,201.98 set 01/08/21.

SPX ends Week 1 at record 3,824.68, +1.83% from last Friday and MTD/QTD/YTD, +0.00% from record 3,824.68 set 01/08/21.

The Week 1 of 2021 News Summary:

Coronavirus Pandemic: As of Friday, 01/08/21, at 21:21PM Eastern US, the John Hopkins University CSSE unit says there are now 88,845,495 confirmed cases globally with 1,913,379 deaths, an increase from last Friday of 97,822, which is 33,265 more than last Friday. For the US it is 21,862,771 confirmed cases and 368,769 deaths, an increase from last Friday of 23,754, which is 8,985 more than last Friday. The Pfizer/BioNTech and Moderna vaccinations are taking place at a slower pace than expected as states grapple with priorities and logistics.

US Presidential Transition: The apparently unexpected attempted insurrection with a violent and destructive attack on the Capital Building on Wednesday, January 6th, was unprecedented and an historic event. After the Capital Building was cleared the Congress resumed its traditional count and certification of the Electoral College. As expected, it was confirmed that Joe Biden is President-Elect and Kamala Harris Vice President-Elect. Additional nominees for high level posts are being named and the transition continues with an additional focus on security issues in Washington DC.

US Economy: Overall economic data was positive, especially for manufacturing and services industries. However, the ADP private sector employee count took a bigger than expected drop, weekly initial job claims increased as well, and the US governments civilian labor force reports showed a decline in employment as well, all the result of an increase in COVID-19 related concerns. The Federal Open Market Committee minutes from its last meeting indicated a concensus that the US economy is growing modestly at best, resulting in ongoing actions and policies being implemented to help mitigate economic fragility concerns.

International News: . The UK and European Union continue to gently walk through the first week of Brexit, which is also more complicated because of a new more contagious variant of COVID-19 virus resulting in more lockdowns and restrictions.

US Stock Exchanges: On Monday The Stock Market Bear viciously clawed and loudly growled to start the new year and week. But The Stock Market Bull responded with courage and with conviction charged focused and determined through the rest of Week 1 with the result of ending at record levels for all 3 major US stock indices, for a 3-0 Week 1 victory, a pretty amazing accomplishment considering the historic midweek attack on the Capital Building. An unpredictable first week for 2021 is in the books. Does it set the tone for the rest of the year as we continue to grapple with a pandemic, the economic fallout, and with a new administration taking over very soon?

The Week 1 of 2021 tally YTD is:
The Stock Market Bull: 1 week
The Stock Market Bear: 0 weeks
Mixed Results: 0 weeks

Domtar(PBR521 $UFS) to sell its Personal Care business to American Industrial Partners for $920 million, is reinforcing its focus on building an industry-leading Paper, Pulp and Packaging company, to close by end of 1Q21. PR link.

Roku(PBR992 $ROKU) says its Roku TV™ is the number one selling smart TV operating system in 2020 with 38% of market share in the US and 31% in Canada. PR link.

Roku(PBR992 $ROKU) has acquired the exclusive global distribution rights to Quibi‘s shows, The Roku Channel will become the exclusive place to stream more than 75 premium shows and documentaries that Quibi created in conjunction with Hollywood’s leading studios and production companies, will make the content available for free on an ad-supported basis in 2021 to all Roku users. PR link.

The US Dept of Labor says the December 2020 US Civilians Employed is at 149,830,000, Unemployed is 10,737,000, for an Unemployment Rate of 6.7%, November 2020 was at 6.7%, October 2020 6.9%, December 2019 3.6%. PR link.

The US Federal Reserve says the Preliminary November 2020 US Consumer Credit Outstanding-Revolving is at $978.8 billion, Non-Revolving $3,198.0 billion, for November 2020 Total US Consumer Credit Outstanding of $4,176.8 billion, October 2020 was at $4,161.5 billion, September 2020 $4,157.0 billion, November 2019 $4,170.5 billion. PR link.

The US Dept of Commerce/Census says Preliminary November 2020 US Wholesale Sales-Durables is at $243.1 billion, Non-Durables $253.6 billion, for November 2020 US Total Wholesale Sales of $496.7 billion, October 2020 was at $496.0 billion, September 2020 $487.7 billion, November 2019 $497.9 billion. PR link.

FannieMae says the December 2020 Home Purchase Sentiment Index is at 74.0, November 2020 was at 80.0, October 2020 81.7, December 2019 91.7. “Both the ‘Good Time to Sell’ and ‘Good Time to Buy’ components fell significantly, with respondents overwhelmingly noting the unfavourability of economic conditions.” PR link.

***Thursday, January 7

Boeing(PBR40 $BA) reaches agreement with the US Dept of Justice, resolves investigation relating to the evaluation of the Boeing 737 MAX airplane by the US Federal Aviation Administration, provides for $2.5 billion in payments for fines, compensation to affected families of 2 crashes, and customer financial losses. PR link.

Albertsons(PBR55 $ACI) says it is the first American grocer to pilot an automated and contactless grocery PickUp kiosk, located at one of its Jewel-Osco stores in Chicago, features an automated, temperature-controlled kiosk, provides a contactless pickup experience, for customers who select the “Kiosk PickUp” option who will then have 2-hr time slots during which to pick up their groceries. PR link.

DXC Technology(PBR161 $DXC) confirms it has received an unsolicited, preliminary and non-binding proposal from France based public company Atos SE to acquire all DXC Technology shares, Board is evaluating proposal. PR link.

Wayfair(PBR336 $W) says that all US employees will now make at least $15/hour, took effect 01/03/21, applies to full-time, part-time and seasonal employees, will result in an increase for 40% of its employees. PR link.

Constellation Brands(PBR337 $STZ) in 3Q21 report says it has authorized a new $2 billion share repurchase program, has $1.9 billion available from previous authorization. PR link.

Devon Energy(PBR458 $DVN) completes all stock merger of equals with WPX Energy(NYSE: WPX), creates a $12 billion enterprise value company, builds a dominant Delaware Basin acreage position totaling 400,000 net acres. PR link.

Tiffany(PBR592 $TIF) $135/share $16.2 billion acquisition by LVMH is completed. PR link.

The US Dept of Commerce/Census says the Preliminary November 2020 US Exports-Goods is at $127.7 billion, Services $56.4 billion, for November 2020 Total US Exports of $184.1 billion; Preliminary November 2020 US Imports-Goods is at $214.1 billion, Services $38.2 billion, for November 2020 Total US Imports of $252.3 billion; November 2020 Total US Deficit is at $68.2 billion, November 2020 Total US Deficit YTD(11 months) is at $604.9 billionNovember 2019 Total US Deficit YTD was at $530.7 billionPR link.

The Institute for Supply Management December 2020 US Services PMI Index(>50 economy is growing) is at 57.2%, November 2020 was at 55.9%, October 2020 56.6%, December 2019 55.0%. “Most respondents are cautiously optimistic about business conditions with the recent approval and impending distribution of vaccines…” PR link.

***Wednesday, January 6

Amazon(PBR2 $AMZN) announces the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable housing units in Washington State’s Puget Sound region; Arlington, VA; and Nashville, TN. PR link.

CVS Health(PBR5 $CVS) provides update on on COVID-19 vaccinations in long-term care facilities per partnership with the US federal and state governments, will be providing services to nearly 31,000 assisted living facilites. PR link.

UnitedHealth(PBR7 $UNH)’s OptumInsight unit to acquire Change Healthcare (NASDAQ: CHNG) for $25.75/share cash, will create a health care technology leader to provide software and data analytics, technology-enabled services and research, advisory and revenue cycle management offerings. PR link.

AmerisourceBergen(PBR9 $ABC) to acquire the majority of Walgreens Boots Alliance(PBR18 $WBA)’s Alliance Healthcare businesses for approximately $6.5 billion, to close by 09/30/21. PR link.

Walgreens Boots Alliance(PBR18 $WBA) has accelerated its investment in VillageMD to support the opening of 600 to 700 Village Medical at Walgreens primary care clinics in more than 30 US markets within the next four years, with the intent to build hundreds more thereafter. PR link.

T-Mobile(PBR71 $TMUS) in preliminary 4Q20 report says it had 5.5 million postpaid net new adds in 2020, 5G network now reaching 280 million people and covering 106 million people with Ultra Capacity 5G’s super-fast speeds. PR link.

Carnival Corp(PBR153 $CCL)’s Princess Cruises extends pause on all cruises through at least through 05/14/21. PR link.

Carnival Corp(PBR153 $CCL)’s Holland America extends pause on all cruises through at least 04/30/21. PR link.

Truist Financial(PBR211 $TFC) sold its $10 billion in plan assets institutional 401(k) investment advisory services business to OneDigital Investment Advisors on 12/31/20, will sell its institutional 401(k) recordkeeping businesses to Ascensus and Empower Retirement in 1Q21, each with $5 billion in plan assets, terms not disclosed. PR link.

Vistra Energy(PBR258 $VST)’s Moss Landing Power Plant in Monterey County, CA, 300 megawatts/1,200 megawatt-hours, lithium-ion battery storage system came online 12/11/20, largest such facility in the world, to add 100 MW/ 09/200 MWh in August, 2021. PR link.

NVIDIA(PBR285 $NVDA)‘s $40 billion cash and stock acquisition of AI development Cambridge, UK based company Arm Limited from SoftBank to be investigated by the UK’s Competition and Markets Authority starting later this year, says it will work closely with other competition authorities around the world to carefully consider the impact of the deal and ensure that it doesn’t ultimately result in consumers facing more expensive or lower quality products. PR link.

Wyndham Destinations(PBR615 $WYND) has acquired the Travel + Leisure brand and all related assets from Meredith Corp(PBR773 $MDP), will change its name to Travel + Leisure Co in early 2021, start trading as NYSE: TNL in mid February 2021, Meredith will continue to operate and monetize Travel + Leisure’s media across multiple channels, including its advertising and marketing activities, under a 30-year royalty-free, renewable licensing relationship. PR link.

Roku(PBR992 $ROKU) says its Roku TV™ is the number one selling smart TV operating system in 2020 with 38% of market share in the US and 31% in Canada. PR link.

New York Community Bank(PBR912 $NYCB) appoints Michael J. Levine as Non-Executive Chairman, succeeds Dominick Ciampa who remains on the Board. PR link.

The Federal Open Marked Committee releases the minutes from its December 15-16, 2020 meeting. “… Overall financial conditions remained accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. Members agreed that the Federal Reserve was committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. Members also stated that the path of the economy would depend significantly on the course of the virus. In addition, members agreed that the ongoing public health crisis would continue to weigh on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term.” PR link.

ADP says the Preliminary December 2020 US Change in Non-Farm Private Employment is -123,000, -13,000 from Small Businesses(1-49 employees), +37,000 from Mid-Size Businesses(50-499 employees), and -147,000 from Large Businesses(500 or more employees); there were -18,000 jobs from the Goods Producing Sector, -105,000 from the Service Providing SectorPR link.

The US Dept of Commerce/Census says the Preliminary November 2020 US Manufacturers New Orders-Durables is at $244.4 billion, Non-Durables $242.8 billion, Total $487.2 billion, October 2020 was at $482.2 billion, September 2020 $475.9 billion, November 2019 $490.7 billion. PR link.

IHS Markit says the December 2020 US Composite PMI Output Index is at 55.3, November 2020 was at 58.6, October 2020 56.3, December 2019 52.7. “… businesses remain much more confident about the outlook in a year’s time than before the successful vaccine developments, reflecting greater optimism for prospects of life returning to normal in the second half of 2021.” PR link.

***Tuesday, January 5

Amazon(PBR2 $AMZN) is making its first-ever purchase of eleven Boeing 767-300 aircraft, includes seven aircraft from Delta and four aircraft from WestJet, which will join the network by 2022. PR link.

Mondelez(PBR111 $MDLZ) has acquired Hu (as in “Human”) Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients, terms not disclosed. PR link.

Constellation Brands(PBR337 $STZ) completes divestiture of a portion of Constellation’s wine and spirits portfolio to E. & J. Gallo Winery for around $810 million, in a separate transaction divests the Nobilo wine brand to E. & J. Gallo for around $130 million. PR link.

Coty(PBR563 $COTY) completes $200 million acquisition for 20% ownership in Kardashian West’s business to further develop it globally, skincare line remains on track for an expected launch in fiscal year 2022. PR link.

Hologic(PBR648 $HOLX) to acquire Biotheranostics, a privately held, commercial-stage company that provides molecular diagnostic tests for breast and metastatic cancers, for approximately $230 million, to close in 02/21. PR link.

Illumina(PBR666 $ILMN) and Helix partner and with support from the CDC to augment national surveillance infrastructure in the US to track the emergence and prevalence of novel strains of SARS-CoV-2 . PR link.

WW(PBR972 $WW) gets partnership with The Vitamin Shoppe, launches co-branded nutritional supplements, introduces select member-favorite WW snacks and protein boosters to The Vitamin Shoppe, as well as the opportunity to purchase WW memberships through The Vitamin Shoppe’s 715+ retail locations and online. PR link.

Qualcomm(PBR126 $QCOM) elects President Cristiano Amon to become CEO, to succeed to succeed Steve Mollenkopf who is retiring after 26 years with the company, to be effective 06/30/21. PR link.

Public Storage(PBR774 $PSA) reaches agreement with major stockholder Elliott Management, adds two new independent directors to the Board. PR link.

The Institute for Supply Management December 2020 US Manufacturing PMI Index(>50 is economy expanding) is at 60.7%, November 2020 was at 57.5%, October 2020 59.3%, December 2019 47.8%. “Manufacturing performed well for the seventh straight month, with demand, consumption and inputs registering strong growth compared to November. Labor market difficulties at panelists’ companies and their suppliers will continue to restrict the manufacturing economy expansion until the coronavirus (COVID-19) crisis ends…” PR link.

The PurdueU/CME Group December 2020 US Ag Economy Barometer Composite Index is at 174, November 2020 was at 167, October 2020 183, December 2019 150. “Farmer sentiment rises as income prospects improve, concerns about key policy issues remain.” PR link.

***Monday, January 4

Amazon(PBR2 $AMZN), Berkshire Hathaway(PBR6 $BRK.B) and JPMorgan Chase(PBR24 $JPM) healthcare joint venture to make healthcare more efficient and cost effective, Haven Healthcare, is disbanding after 3 years. CNBC PR link.

Alphabet(PBR12 $GOOG)’s Google unit has 400 workers signing on to form the Alphabet Workers Union, is supported by the Communications Workers of America, and is open to full-time and contract employees. CNET PR link.

Centene(PBR42 $CNC) to acquire Magellan Health(PBR411 $MGLN) for $95/share, enterprise value of around $2.2 billion, brings together the companies’ complementary capabilities in behavioral health, specialty healthcare and pharmacy management, will establish one of the nation’s largest behavioral health platforms across 41 million unique members, to close in 2H21. PR link.

Albertsons(PBR55 $ACI) grocery store units in S California turning to a third-party delivery service using independent contractors by the end of 02/21. KNOCK PR link.

ViacomCBS(PBR103 $VIAC) gets new multi-year distribution agreement that adds more content from ViacomCBS’ leading portfolio of news, entertainment and sports networks to Hulu’s live TV subscription streaming service, Hulu + Live TV, terms not disclosed. PR link.

Tesla(PBR118 $TSLA) reports it delivered 180,570 vehicles in 4Q20, 499,550 vehicles for all of 2020, Model Y production in Shanghai has begun, with deliveries expected to begin shortly. PR link.

MGM Resorts(PBR241 $MGM) confirms it has made an offer to buy Entain plc, its partner in the US sports betting and iGaming market, Entain has said offer undervalues it, asks for more details. PR link.

MGM Resorts(PBR241 $MGM) launches its BetMGM sports betting mobile app in IowaPR link.

AES Corp(PBR302 $AES) to sell its entire 51% equity interest in the 1,242 MW Mong Duong 2 coal-fired power plant in Vietnam to a consortium led by a US-based investor, to close late 2021/early 2022. PR link.

Apache Corp(PBR450 $APA) to create a holding company structure, to be called APA Corporation, will replace Apache Corporation as the public company trading name, will continue to use ticker NASDAQ: APA, to be completed in 1H21. PR link.

Herbalife(PBR544 $HLF) repurchases $600 million in shares at $48.05/share from Icahn Enterprises(PBR319 $IEP), Icahn will then own around 8 million shares, represents around 6% of all common shares. PR link.

Dentsply Sirona(PBR627 $XRAY) has acquired Byte, a rapidly growing direct-to-consumer, doctor-directed clear aligner company with expected revenues of $200 million in 2021, for $1.04 billion cash, closed on 12/31/20. PR link.

Teledyne(PBR719 $TDY) to acquire Oregon based FLIR Systems(NASDAQ:FLIR​​​​​), a global industrial technology company focused on intelligent sensing solutions for defense and industrial applications with nearly $2 billion in annual revenues, for $56/share, around $8.0 billion cash and stock, to close in mid 2021. PR link.

The US Dept of Commerce/Census says the Preliminary November 2020 US Construction Spending Annual Rate-Residential is at $667.0 billion, Non-Residential $792.5 billion, for November 2020 US Total Construction Spending Annual Rate of $1,459.4 billion, October 2020 was at $1,446.9 billion, September 2020 $1,424.0 billion, November 2019 $1,342.5 billion. PR link.

IHS Markit says the December 2020 US Manufacturing PMI Index is at 57.1, November 2020 was at 56.7, October 2020 53.4, December 2019 52.4. “Firms … remain highly positive about the outlook for the year ahead, anticipating that vaccine roll-outs will help drive a further recovery in 2021, although some of November’s post-election exuberance has been tamed by the recent rise in virus case numbers, suggesting the near-term outlook will remain challenging.” PR link.

***Thursday, December 31

The PBRMarketTools US Stock Exchanges Recap for Week 53 of 2020 and year ending 12/31/20:

DJIA ends Week 53 and 2020 at record 30,606.48, +1.35% from last Friday, +3.27% MTD, +10.17% QTD, +7.25% YTD, +0.00% from record 30,606.48 set 12/31/20.

NASDAQ ends Week 53 and 2020 at 12,888.28, +0.65% from last Friday, +5.65% MTD, +15.41% QTD, +43.64% YTD, -0.09% from record 12,899.42 set 12/28/20.

SPX ends Week 53 and 2020 at record 3,756.07, +1.43% from last Friday, +3.71% MTD, +11.69% QTD, +16.26% YTD, +0.00% from record 3,756.07 set 12/31/20.

The Week 53 of 2020 News Summary:

Coronavirus Pandemic: The year 2020 has ended and the final tallies are in. As of Thursday, 12/31/20, at 15:23PM Eastern US, the John Hopkins University CSSE unit says there are now 83,316,999 confirmed cases globally with 1,815,557 deaths, an increase from last Friday of 64,557, which is -14,671 from last Friday. For the US it is 19,923,169 confirmed cases and 345,015 deaths, an increase from last Friday of 14,769, which is -2,442 from last Friday. The Pfizer/BioNTech and Moderna vaccinations started a week ago to mixed success because of logistical issues.

US Presidential Transition: President-Elect Joe Biden continues to nominate high level officials. The Republicans are running out of time to contest allegations of voter fraud as courts continue to rule lawsuits as not valid. President Trump has still not conceded the race. The US House will continue to have a Democrat majority. The control of the US Senate will be decided by two US Senate runoff elections to be held on January 5 in Georgia.

US Economy: The number of weekly initial unemployment insurance claims fell again. Other indicators show a modestly growing economy. While the US House passed a bill authorizing a $2,000 benefit per qualified person, it appears the US Senate will not be approving the measure. The $600 benefit is already being sent out.

International News: The UK approves the Brexit deal. The Coronavirus Pandemic worsens in the European Union, more lockdowns and restrictions are being put in place.

US Stock Exchanges: It was a shortened trading week of 4 days, trading volumes were low, and it was a non-volatile week, with The Stock Market Bull having a nice day on Monday. The Stock Market Bear made a half-hearted appearance on Tuesday, and then The Stock Market Bull closed out Week 53 and 2020 with records for all 3 major US stock exchanges during the week, including 2 of them on the last day. It was a strange and dramatic year that started strong, then took a huge dip because of the Coronavirus Pandemic, and then had a strong recovery, The Stock Market Bull came out a clear and convincing victor in 2020. Now 2021 awaits, expert prognosticators are all over the place from doomsday to bright clear shiny days forecasts. Enjoy the long weekend to start the New Year, get a good rest, and then get ready to ride the 2021 rollercoaster!

The Week 53 of 2020 tally YTD is:
The Stock Market Bull: 26 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 8 weeks

The December of 2020 tally YTD is:
The Stock Market Bull: 7 months
The Stock Market Bear: 4 months
Mixed Results: 1 month

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The PBR1000 December 2020 Breaking News Recap

The PBR1000 for December: Will Congress Be A Generous Giver?

PBR1000 Christmas Washington

In December Congress has to make some decisions on a fiscal stimulus plan, ongoing government funding and defense bills. What kind of holiday spirit will they be in?

The December 2020 breaking news items of interest for The PBR1000 follow with the most current date first.

***Thursday, December 31

The PBRMarketTools US Stock Exchanges Recap for Week 53 of 2020 and year ending 12/31/20:

DJIA ends Week 53 and 2020 at record 30,606.48, +1.35% from last Friday, +3.27% MTD, +10.17% QTD, +7.25% YTD, +0.00% from record 30,606.48 set 12/31/20.

NASDAQ ends Week 53 and 2020 at 12,888.28, +0.65% from last Friday, +5.65% MTD, +15.41% QTD, +43.64% YTD, -0.09% from record 12,899.42 set 12/28/20.

SPX ends Week 53 and 2020 at record 3,756.07, +1.43% from last Friday, +3.71% MTD, +11.69% QTD, +16.26% YTD, +0.00% from record 3,756.07 set 12/31/20.

The Week 53 of 2020 News Summary:

Coronavirus Pandemic: The year 2020 has ended and the final tallies are in. As of Thursday, 12/31/20, at 15:23PM Eastern US, the John Hopkins University CSSE unit says there are now 83,316,999 confirmed cases globally with 1,815,557 deaths, an increase from last Friday of 64,557, which is -14,671 from last Friday. For the US it is 19,923,169 confirmed cases and 345,015 deaths, an increase from last Friday of 14,769, which is -2,442 from last Friday. The Pfizer/BioNTech and Moderna vaccinations started a week ago to mixed success because of logistical issues.

US Presidential Transition: President-Elect Joe Biden continues to nominate high level officials. The Republicans are running out of time to contest allegations of voter fraud as courts continue to rule lawsuits as not valid. President Trump has still not conceded the race. The US House will continue to have a Democrat majority. The control of the US Senate will be decided by two US Senate runoff elections to be held on January 5 in Georgia.

US Economy: The number of weekly initial unemployment insurance claims fell again. Other indicators show a modestly growing economy. While the US House passed a bill authorizing a $2,000 benefit per qualified person, it appears the US Senate will not be approving the measure. The $600 benefit is already being sent out.

International News: The UK approves the Brexit deal. The Coronavirus Pandemic worsens in the European Union, more lockdowns and restrictions are being put in place.

US Stock Exchanges: It was a shortened trading week of 4 days, trading volumes were low, and it was a non-volatile week, with The Stock Market Bull having a nice day on Monday. The Stock Market Bear made a half-hearted appearance on Tuesday, and then The Stock Market Bull closed out Week 53 and 2020 with records for all 3 major US stock exchanges during the week, including 2 of them on the last day. It was a strange and dramatic year that started strong, then took a huge dip because of the Coronavirus Pandemic, and then had a strong recovery, The Stock Market Bull came out a clear and convincing victor in 2020. Now 2021 awaits, expert prognosticators are all over the place from doomsday to bright clear shiny days forecasts. Enjoy the long weekend to start the New Year, get a good rest, and then get ready to ride the 2021 rollercoaster!

The Week 53 of 2020 tally YTD is:
The Stock Market Bull: 26 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 8 weeks

The December of 2020 tally YTD is:
The Stock Market Bull: 7 months
The Stock Market Bear: 4 months
Mixed Results: 1 month

ExxonMobil(PBR4 $XOM) estimates possible 4Q20 non-cash impairments of $20 billion from its upstream business. PR link.

Ford(PBR13 $F) and India based Mahindra & Mahindra decide not complete the automotive joint venture proposed in 10/19 between their respective companies due to fundamental changes in global economic and business conditions – caused, in part, by the global pandemic. PR link.

Cigna(PBR14 $CI) completes the $6.3 billion cash sale of its group life and disability insurance business to New York LifePR link.

JCPenney(PBR292 $JCPNQ) CEO Jill Soltau exiting effective 12/31/20, Simon Property(PBR481 $SPG) Chief Investment Officer Stanley Shashoua appointed Interim CEO effective 01/01/21, new CEO search starts. PR link.

The US Dept of the Treasury says the 12/29/20 US National Debt-Public is at $21.468 trillion, Intragovernmental $6.092 trillion, for 12/29/20 Total US Debt of $27.560 trillion. 12/31/19 was at $23.201 trillion. PR link.

The US Dept of Labor says the Week Ending 12/26/20 US Initial Unemployment Insurance Claims is at 787.000, 11/21/20 was at 778,000, 10/24/20 751,000, 12/21/19 222,000; the Week Ending 12/19/20 Total Insured Unemployment is at 5,219,000, 11/14/20 was at 6,071,000, 10/17/20 7,756,000, 12/14/19 1,719,000; the Week Ending 12/19/20 Insured Unemployment Rate is at 3.6%, 11/14/20 was at 4.1%, 10/17/20 5.3%, 12/14/19 1.2%. PR link.

The Federal Reserve Bank of Chicago says the Preliminary November 2020 7th District Midwest Economy Index is at +1.79, October 2020 was at +3.00, September 2020 +4.34, November 2019 -0.61. “Index suggests slower, but still above-trend Midwest growth through November.” PR link.

FreddieMac says the 12/31/20 Average 30 Year Fixed Mortgage Rate is at 2.67% with 0.7 fees/points, 11/25/20 was at 2.72%, 10/29/20 2.81%, 12/26/19 3.74%. “Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth.” PR link.

The American Automobile Assn says the 12/31/20 US Average Price for a Gallon of Regular Gas is at $2.253, 11/30/20 was at $2.127, 10/20/20 $2.142, 12/31/19 $2.583. PR link.

***Wednesday, December 30

Live Nation(PBR264 $LYV)’s Ticketmaster unit will pay a $10 million criminal fine to avoid prosecution on US Dept of Justice charges it repeatedly accessed the computer systems of rival Songkick whose assets its parent Live Nation Entertainment later purchased. Financial Post PR link.

UGI Corp(PBR440 $UGI) to acquire Mountaintop Energy Holdings, owner of Mountaineer Gas Company, the largest gas local distribution company in W Virginia for an enterprise value of $540 million, which includes the assumption of approximately $140 million of debt, to close in 2H21. PR link.

Devon Energy(PBR459 $DVN) and WPX Energy(NYSE: WPX) shareholders agree to all stock merger of equals, will result in an enterprise value for the combined entity of approximately $12 billion, will be called Devon Energy, builds a dominant Delaware Basin acreage position totaling 400,000 net acres, to close on 01/07/21. PR link.

McCormick(PBR513 $MKC) has purchased 100% of the shares of privately held FONA International, a leading manufacturer of clean and natural flavors for the food, beverage and nutritional markets, for $710 million in cash. PR link.

Acadia Healthcare(PBR723 $ACHC) to sell its its behavioral health UK operations, The Priory Group, to Waterlands Private Equity for around $1.47 billion, to close by 01/31/21. PR link.

The US Energy Information Administration says the 12/25/20 US Crude Oil Stocks(Millions of Barrels) is at 493.5, 11/20/20 was at 488.7, 10/23/20 492.4, 12/20/20 441.4. PR link.

The MNI Indicators December 2020 Chicago Business Barometer(>50 is gaining) is at 59.5, November 2020 was at 58.2, October 2020 61.1, December 2019 48.9. PR link.

***Tuesday, December 29

Boeing(PBR40)’s 737 MAX passenger flights resume in US after nearly two-year ban. CNBC PR link.

Pfizer(PBR63 $PFE) and BioNTech(NASDAQ: BNTX) gets additional order for 100 million doses of its COVID-19 vaccine for the 27 states of the European Union, brings total order to 300 million doses, to be delivered in 2020 and 2021. PR link.

Simon Property(PBR479 $SPG) completes $43.00/share cash, around $3.4 billion, 80% ownership interest in Taubman Centers(NYSE: TCO), includes 26 super-regional shopping centers in the US and Asia. PR link.

The US Dept of Commerce/BEA says the Preliminary 3Q20 US Assets is at $29.408 trillion, Liabilities $43.359 trillion, for a 3Q20 Deficit of $13.950 trillion, 2Q20 Deficit was $13.085 trillion, 1Q20 $12.163 trillion, 3Q19 $10.935 trillion. PR link.

The S&P CoreLogic Case-Shiller Preliminary October 2020 US National Home Price Index(01/2000=100) is at 229.93, September 2020 was at 226.82, August 2020 224.16, October 2019 212.10. PR link.

***Monday, December 28

Pfizer(PBR63 $PFE) and Myovant Sciences (NYSE: MYOV) to collaborate to develop and commercialize relugolix – a once-daily, oral gonadotropin-releasing hormone (GnRH) receptor antagonist – in oncology and women’s health in the US and Canada, Pfizer will also receive an exclusive option to commercialize relugolix in oncology outside the US and Canada, excluding certain Asian countries, Pfizer to pay upfront fee of $650 million, up to $4.2 billion to Myovant based on achievement of milestones. PR link.

VF Corp(PBR295) has completed the acquisition of around $500 million in annual revenues Supreme®, a privately-owned global streetwear brand, for $2.1 billion, is now a wholly owned subsidiary. PR link.

New York Community Bank(PBR912 $NYCB) President/CEO/Director Joseph R. Ficalora to retire from all roles after 55 years with the bank, effective 12/31/20, SEVP/CFO Thomas R. Cangemi is appointed successor. PR link.

MasterCard(PBR184)’s Spending Pulse preliminary reports show that holiday retail sales excluding automotive and gasoline increased 3.0% this expanded holiday season, running 75 days from October 11 through December 24, with online sales growing 49.0% compared to 2019, and accounting for 19.7% of all retail sales. PR link.

TrueCar says the Forecasted December 2020 US New Vehicle Unit Sales-Retail is at 1,428,094, Fleet 177,008, for Total New Vehicle Unit Sales of 1,605,102, November 2020 was at 1,214,891, December 2019 1,533,555; December 2020 Average Transaction Price is at $38,797, November 2020 was at $37,991, December 2019 $37,029. PR link.

***Saturday, December 26

The PBRMarketTools US Stock Exchanges Recap for Week 52 of 2020 ending 12/25/20:

DJIA ends Week 52 at 30,199.87, +0.447% from last Friday, +1.89% MTD, +8.70% QTD, +5.82% YTD, -0.34% from record 30,303.37 set 12/17/20.

NASDAQ ends Week 52 at 12,804.73, +0.38% from last Friday, +4.97% MTD, +14.66% QTD, +42.71% YTD, -0.02% from record 12,807.92 set 12/22/20.

SPX ends Week 52 at 3,703.06, -0.17% from last Friday, +2.25% MTD, +10.11% QTD, +14.62% YTD, -0.52% from record 3,722.48 set 12/17/20.

The Week 52 of 2020 News Summary:

Coronavirus Pandemic: It was another week of much higher numbers of people affected by the virus. As of Friday, 12/25/20, at 23:59PM Eastern US, the John Hopkins University CSSE unit says there are now 79,840,000 confirmed cases globally with 1,751,000 deaths, a weekly increase of 79,228, which is -2,580 from last Friday. For the US it is 18,756,000 confirmed cases and 330,246 deaths, a weekly increase of 17,211, which is -2,039 from last Friday. The US FDA has two Emergency Use Authorization approvals for COVID-19 vaccitions, Pfizer/BioNTech and Moderna, initial distribution and vaccinations are now occurring. The US federal government has negotiated an additional 100 million doses to by delivered by the end of July, 2021. More COVID-19 candidate vaccines are expected to be approved in January, 2021.

US Presidential Transition: President-Elect Joe Biden has nominated more high cabinet positions nominees, with a very diverse set of individuals. The Republicans continue to lose cases to overturn election results because of lack of evidence for voter fraud. While there are a few holdouts, and President Trump has still not conceded the race, Biden is clearly the winner of the election by most Americans. The US House will continue to have a Democrat majority. The control of the US Senate will be decided by two US Senate runoff elections to be held on January 5 in Georgia, polls continue to show a close race, but Democrats are narrowly leading going into the final full week of campaigning.

US Economy: After a few weeks of upticks the number of people applying for unemployment benefits took a dip, as did the number of people who continue to receive those benefits. Both existing home sales and new home sales took a dip on their annual rates. The 3Q20 Gross Domestic Product estimate was increased from 33.1% to 33.4%. Congress approved a new stimulus bill tied to a new spending bill by large margins. However, President Trump has indicated he might possibly veto the bill because he feels the $600 benefit per qualified person should be $2,000. Votes are expected on Monday. Other economic indices show the economy growing, but at a slower pace.

International News: The UK and the European Union made a Brexit deal. Details are being released. Travel between Britain and the European continent has been disrupted because of the significant increase in COVID-19 cases, resulting in some food shortages and many drivers of transport vehicles have been stranded.

US Stock Exchanges: It was a shortened 3 1/2 days trading week. It was a non-volatile week, with The Stock Market Bear having a big day on the DJIA on Tuesday, but The Stock Market Bull countered with a record close on the NASDAQ the same day. At the end of the week The Stock Market Bull pulled out a narrow 2-1 mixed result in Week 52 which could have gone either way. Going into the last week of the year The Stock Market Bull seems to have an insurmountable lead for 2020, no major meltdown is expected. Have a great last week of the year. It is a good time to be positive as we look forward to the start a much needed New Year.

The Week 52 of 2020 tally YTD is:
The Stock Market Bull: 25 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 8 weeks

***Friday, December 25

***Christmas Day.
***US Stock Exchanges Closed.
***Giving Thanks for the little ones
***in our lives who will change the world.

***Thursday, December 24

Home Depot(PBR27 $HD) completes $56/share, total enterprise value of around $8 billion, acquisition of HD Supply Holdings(PBR464 $HDS), a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. PR link.

***Wednesday, December 23

Kroger(PBR22 $KR) Health division will provide the COVID-19 vaccine nationwide across its 2,200 pharmacies and 220 clinics, partnering with the federal government and state health departments to administer the vaccine in accordance with the rollout plan, is hiring nearly 1,000 health care personnel in support of the effort, has facilitated 250,000+ COVID-19 tests since 04/20. PR link.

Albertsons(PBR55 $ACI) Pharmacy & Health team has administered its first doses of the COVID-19 vaccine and is preparing for high consumer demand for immunizations across its 1,700 pharmacies, is hiring 800+ additional pharmacy staff, has launched a new website for FAQs and additional information. PR link.

Pfizer(PBR63 $PFE) and BioNTech SE(NASDAQ: BNTX) get a second agreement with the US government to supply an additional 100 million doses of the companies’ COVID-19 Vaccine from production facilities in the US by 07/31/21 for $1.95 billion, initial order was also for 100 million doses. PR link.

Merck(PBR68 $MRK) to receive up to around $356 million for manufacturing and supply of approximately 60,000-100,000 doses of COVID-19 vaccine MK-7110 to the US Government through 06/30/21, conditioned upon approval or Emergency Use Authorization of MK-7110 by the US FDAPR link.

Huntsman(PBR429 $HUN) completes sale of around 42.5 million of the shares it holds in Venator Materials PLC to SK Capital Partners for approximately $100 million cash, includes a 30-month option for the sale of the remaining approximate 9.5 million shares it holds at $2.15/share. PR link.

Ascena Retail(PBR500 $ASNAQ) completes $540 million asset sale of its Ann Taylor, LOFT, Lane Bryant and Lou & Grey brands assets to an affiliate of Sycamore Partners. PR link.

The US Dept of Commerce/BEA says the Preliminary November 2020 US Total Personal Income Annual Rate is at $19.493 trillion, October 2020 was at $19.715, September 2020 $19.843 trillion, November 2019 $18.788 trillion. PR link.

The US Dept of Commerce/HUD says the Preliminary November 2020 US New Family Homes Sold Annual Rate is at 841,000, October 2020 was at 945,000, September 2020 965,000, November 2019 696,000; November 2020 Median Price is at $335,300, October 2020 $337,500, September 2020 $340,500, November 2019 $328,000. PR link.

The U of Michigan Final December 2020 Consumer Sentiment Index is at 80.7, November 2020 was at 76.9, October 2020 81.8, December 2019 99.3. “While the rollout of the vaccine has been greeted as the beginning of the end, the end of the pandemic is still on the distant horizon in terms of a return to normalcy for consumer behavior, even among the most favored households.” PR link.

***Tuesday, December 22

Walmart(PBR1 $WMT) is being sued by the US Dept of Justice for Controlled Substances Act violations, says Walmart unlawfully dispensed controlled substances from pharmacies it operated across the country and unlawfully distributed controlled substances to those pharmacies throughout the height of the prescription opioid crisis. – USDOJ PR link.

Walmart(PBR1 $WMT) responds to the US Dept of Justice lawsuit accusing Walmart of Controlled Substance Act violations, says lawsuit is misguided and misleading, puts pharmacists between patients and their doctors. PR link.

Amazon(PBR2 $AMZN)’s Whole Foods grocery store unit gets a US FDA warning letter for engaging in a pattern of receiving and offering for sale misbranded food products under their own brand name, finished product labels failed to declare all major food allergens present in the products. US FDA PR link.

Alphabet(PBR12 $GOOG)’s Google unit says antitrust lawsuits, one for advertising technology, another for search and search advertising, are without merit and that it plans to defend itself vigorously. PR link.

Honeywell(PBR86 $HON) to acquire privately held Hamilton, NJ based 250 employees globally enterprise quality management software provider Sparta Systems for $1.3 billion in an all-cash transaction from New Mountain Capital, to close by end of 1Q21. PR link.

MGM Resorts(PBR241 $MGM)‘s sports betting and digital gaming company BetMGM is now an Official Sports Betting Partner of the Philadelphia 76ers professional basketball team. PR link.

DaVita Healthcare(PBR270 $DVA)’s Kidney Care unit says more than 100,000 DaVita patients have received a kidney transplant since 2000. PR link.

Alaska Air(PBR348 $ALK) restructures agreement with Boeing(PBR40 $BA), to receive a total of 68 Boeing 737-9 MAX aircraft with deliveries each year through 2024, also has options for an additional 52 planes, will largely replace Alaska’s Airbus fleet. PR link.

IAC(PBR557 $IAC) to spin-off its 200+ million users video software Vimeo unit to IAC shareholders as an independent separately traded public company, to close in 2Q21 if approved by shareholders during 1Q21 meeting. PR link.

Polaris Industries(PBR430 $PII) appoints EVP/CFO Michael Speetzen to Interim CEO, Lead Independent Director John Wiehoff appointed to become Chairman, both effective 01/01/21, they succeed Chairman/CEO Scott Wine who is departing the company. PR link.

The US Dept of Commerce/BEA says the 3rd Estimate 3Q20 US Real Gross Domestic Product Annual Rate is at +33.4%, $21.170 trillion, 2Q20 was at $19.520 trillion, 1Q20 $21.561 trillion, 3Q19 $21.540 trillion. PR link.

The Natl Assn of Realtors says the Preliminary November 2020 US Existing Home Sales Annual Rate is at 6,690,000, October 2020 was at 6,860,000, September 2020 6,570,000, November 2019 5,320,000; November 2020 Median Price is at $310,800, October 2020 was at $313,000, September 2020 $311,800, November 2019 $271,300. “Circumstances are far from being back to the pre-pandemic normal… However, the latest stimulus package and with the vaccine distribution underway, and a very strong demand for homeownership still prevalent, robust growth is forthcoming for 2021.” PR link.

The US Federal Reserve Bank of Philadelphia says the December 2020 US 3rd District Nonmanufacturing General Activity Index is at -26.8, November 2020 was at -15.9, October 2020 +16.0, December 2019 +13.2. “The future activity indexes suggest that respondents expect improvement at their firms and in the region over the next six months.” PR link.

The US Federal Reserve Bank of Richmond says the December 2020 US 5th District Manufacturing Index(Annualized) is at +19%, November 2020 +15%, October 2020 +29%, December 2019 -5%. “… manufacturers were optimistic that conditions would improve in the coming months.” PR link.

The US Federal Reserve Bank of Richmond says the December 2020 US 5th District Service Sector Revenue Index(Annualized) is at -9%, November 2020 +13%, October 2020 +19%, December 2019 +17%. “Survey respondents were optimistic that conditions would improve in the next six months.” PR link.

The Conference Board says the Preliminary December 2020 US Consumer Confidence Index(1985=100) is at 88.6, November 2020 was at 92.9, October 2020 101.4, December 2019 128.2. “Overall, it appears that growth has weakened further in Q4, and consumers do not foresee the economy gaining any significant momentum in early 2021.” PR link.

***Monday, December 21

Apple(PBR3 $AAPL) has closed around 80 of its 508 retail stores worldwide because of a resurgence of COVID-19, 54 closed in California. Barron’s PR link.

CVS Health(PBR5 $CVS) Pharmacy teams will administer the first dose of the Pfizer(PBR63) vaccine in facilities across 12 states this week, expects to vaccinate up to 4 million residents and staff at over 40,000 long-term care facilities, expects to complete its long-term care facility vaccination effort in approximately 12 weeks, will have the capacity to administer 20 to 25 million shots per month at its retail pharmacy locations subject to product availability and prioritization of populations. PR link.

LabCorp(PBR28 $LH) making available its Pixel by Labcorp™ At-Home COVID-19 Collection Kit available through Walgreens(PBR18 $WBA)‘s online Find Care digital health platform on smartphones and computers. PR link.

Lockheed Martin(PBR56 $LMT) to acquire $2 billion in 2019 revenues, 5,000 employees aerospace and defense rocket engine manufacturer Aerojet Rocketdyne(PBR896 $AJRD) for $56.00/share cash before $5.00/share dividend, $4.4 billion total transaction value, to close in 2H21. PR link.

Pfizer(PBR63 $PFE) and BioNTech SE(NASDAQ: BNTX) get conditional marketing authorization from the European Commission for its COVID-19 vaccine, has an agreement to supply 200 million vaccine doses to EU member states with option to purchase 100 million additional doses in 2021, now has conditional marketing authorization in 40 countries including the 27 EU states. PR link.

Thor Industries(PBR371 $THO) has acquired manufacturer of both gas and diesel luxurious Class A motorhomes $800 million in FY 2020 revenues Tiffin Motor Homes for $300 million. PR link.

Beacon Roofing(PBR420 $BECN) to sell its interior products business, consisting of 81 branch locations where it distributes construction products including wallboard, acoustical ceilings, steel framing and insulation to both residential and commercial contractors, to private equity firm American Securities, for $850 million cash, to close by 03/31/21. PR link.

Diamondback Energy(PBR632 $FANG) to acquire QEP Resources(PBR988 $QEP) for $2.29/share, around $2.2 billion all stock deal, includes $1.6 billion in debt, includes around 49,000 net acres in the Midland Basin primarily held by production, to close by early 2Q21. PR link.

Equity Residential(PBR792 $EQR) sells its San Diego, CA located Vantage Pointe, a 679-unit apartment property located in downtown San Diego, for around $312.5 million. PR link.

Rent-A-Center(PBR797 $RCII) to acquire fintech company with $1.25 billion in revenues in 2020 Acima Holdings, a leading provider of virtual lease-to-own solutions, for $1.273 billion in cash and around 10.8 million shares of Rent-A-Center common stock currently valued at $377 million, for total transaction of $1.65 billion, to close in 1H21. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary November 2020 US National Activity Index is at +0.27, October 2020 was at +1.01, September 2020 +0..40, November 2019 +0.29. “Index suggests slower, but still slightly above-average growth in November.” PR link.

***Friday, December 18

The PBRMarketTools US Stock Exchanges Recap for Week 51 of 2020 ending 12/18/20:

DJIA ends Week 51 at 30,179.05, +0.44% from last Friday, +1.82% MTD, +8.63% QTD, +5.75% YTD, -0.41% from record 30,303.37 set 12/17/20.

NASDAQ ends Week 51 at 12,755.64, +3.05% from last Friday, +4.57% MTD, +14.22% QTD, +42.16% YTD, -0.07% from record 12,764.75 set 12/17/20.

SPX ends Week 51 at 3,709.41, +1.25% from last Friday, +2.42% MTD, +10.30% QTD, +14.81% YTD, -0.35% from record 3,722.48 set 12/17/20.

The Week 51 of 2020 News Summary:

Coronavirus Pandemic: It was another week of much higher numbers of people affected by the virus. As of today, Friday, 12/18/20, at 5:27PM Eastern US, the John Hopkins University CSSE unit says there are now 75,508,468 confirmed cases globally with 1,671,772 deaths, a weekly increase of 81,808, which is +6,393 from last Friday. For the US it is 17,416,108 confirmed cases and 313,035 deaths, a weekly increase of 19,250, which is +3,548 from last Friday. With the US FDA Emergency Use Authorization approval the initial distribution of the Pfizer/BioNTech COVID-19 vaccine began with several million doses being deployed to the states based on their population. Initial vaccinations are being done, primarily to frontline healthcare workers. An independent advisory panel has recommended that the Moderna vaccine also be approved and the US FDA has made an indication that it will do so shortly.

US Presidential Transition: President-Elect Joe Biden continues his line up of high cabinet positions nominees, with a very diverse set of individuals. The Republicans lawsuits have been pretty much dismissed, The Electoral College has voted and confirmed Joe Biden as President-Elect with 306 votes, above the 270 needed. President-Elect Biden made a speech to the American people about the voting process working, and gave a short preview of his agenda, with a special emphasis on controlling the Coronavirus Pandemic. Most prominent Republicans have conceded that Biden has won the White House, but President Trump still has not. While control of the US House will continue to be by a slimmer Democrat majority the US Senate control will be decided by two US Senate runoff elections to be held on January 5 in Georgia. Early voting has already begun there. If the Republicans get one of the seats they will have the at least 51 votes needed to control that chamber.

US Economy: It is no surprise that the increase in weekly numbers from the Coronavirus Pandemic upped the number of people filing for unemployment benefits. Housing construction numbers continue to remain high, manufacturing continues to grow but at a slower pace, and surveys of businesses continue to reflect guarded optimism for the next 6 months. The Federal Open Market Committee had its final meeting of the year, maintained the federal funds rate at 0.00-0.25%, indicated that it expects to remain at that level for a long time, said that the economy was growing modestly, but is fragile, and expressed concern that the US Congress had not already passed a stimulus bill. By the end of the week the US Congress was still negotiating a new stimulus bill, and signaled that a deal was very close.

International News: The most headlines continue to be regarding the hammering out of the details of the UK Brexit from the European Union including the many trade issues that need to be ironed out. Messages are mixed about if that can be achieved by the end of the year.

US Stock Exchanges: The Stock Market Bear had a good Monday taking the DJIA and S&P500. The Stock Market Bull then took over with some very nice days Tuesday through Thursday, ending Thursday with new record highs on all three major indices. He then decided to take Friday off rolling around on his back on the nice pasture grasses and The Stock Market Bear had a nice, but not really very volatile Friday. The Stock Market Bull wins Week 51 with a solid 3-0 result, leads the year, and it is difficult to imagine a scenario in which he loses the year. The last two weeks of 2020 will be shortened trading weeks because of the Christmas and New Year holidays. Celebrate responsibly, be thankful for all you have and are, be willing to share as you are able.

The Week 51 of 2020 tally YTD is:
The Stock Market Bull: 25 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 7 weeks

CVS Health(PBR5 $CVS) and Walgreens Boots Alliance(PBR18 $WBA) start providing the Pfizer(PBR62 $PFE)/BioNTech COVID-19 vaccinations for residents and staff at US nursing homes and assisted living facilities per an agreement with the US government. CNBC PR link.

Wells Fargo(PBR26 $WFC) to sell its $10.0 billion private student loan portfolio to investors, with Firstmark, a division of Nelnet(PBR930 $NNI), assuming responsibility for servicing the portfolio upon the sale. PR link.

DuPont(PBR144 $DD) to spin-off its Nutrition & Biosciences unit, which will then merge with International Flavors(PBR531 $IFF) as planned, transaction planned for 02/01/21. PR link.

Tenet Healthcare(PBR166 $THC) selling its 87 locations urgent care platform, operating under the CareSpot and MedPost brands and managed by Tenet’s United Surgical Partners International (USPI) subsidiary, to FastMed, to close in 1Q21, terms not disclosed. PR link.

Blackstone(PBR402 $BX) completes $1.2 billion acquisition of Simply Self Storage, one of the top five private owners of self-storage and operator of a high-quality portfolio totaling 8 million sf across the US, from a Brookfield Asset Management real estate fund. PR link.

Blackstone(PBR402 $BX) proposes $5.17/share, around $4 billion cash, acquisition of UK based private jet services company Signature Aviation, which has rejected a similar lower price proposal from Global Infrastructure Partners. Signature Aviation PR link.

Darden Restaurants(PBR385 $DRI) CEO Gene Lee elected to also serve as Chairman, succeeds Chuck Sonsteby who becomes Lead Independent Director, effective 01/04/21. PR link.

The US Federal Reserve releases the results of its most recent stress tests of 33 of the largest US financial institutions, says “The results of the December 2020 stress test show that firms maintain strong capital levels under two hypothetical severe scenarios.” PR link.

The US Dept of Commerce/BEA says the Preliminary 3Q20 US Total Exports of Goods, Services, and Income Receipts is at $796.1 billion; Total Imports of Goods, Services, and Income Payments is at $974.5 billion, for a 3Q20 Deficit of $178.5 billion, 2Q20 Deficit was at $161.4 billion, 1Q20 Deficit $111.5 billion, 3Q19 $121.6 billion. PR link.

The Conference Board says the Preliminary November 2020 US Leading Economic Index(2016=100) is at 109.1, October 2020 was at 108.5, September 2020 107.7, November 2019 111.6. “The US LEI continued rising in November, but its pace of improvement has been decelerating in recent months, suggesting a significant moderation in growth as the US economy heads into 2021…” PR link.

The US Federal Food & Drug Administration agrees to an Emergency Use Authorization for a COVID-19 vaccine developed by Moderna, the FDA’s second such authorization, the first was last week for Pfizer(PBR62)/BioNTech‘s vaccine. PR link.

***Thursday, December 17

Alphabet(PBR12)’s subsidiary Google hit with a second antitrust lawsuit in two days with the most recent claiming the company altered the designs of its search engine to undercut competitors, filed by group of 38 states. MarketWatch PR link.

Alphabet(PBR12)’s subsidiary Google responds to today’s antitrust lawsuit, says redesigning Search would harm American consumers and businesses. PR link.

Alphabet(PBR12)’s subsidiary Google gets European Commission approval for $2.1 billion cash acquisition of health wearables company Fitbit(PBR971) subject to certain conditions. European Commission PR link.

Coca-Cola(PBR83) is cutting 2,200 jobs globally, including 1,200 in the US, as the coronavirus pandemic accelerates the soda giant’s restructuring efforts. Wall Street Journal PR link.

Otis(PBR236) issues recall for around 5,000 private residence elevators sold before 2013 due to entrapment hazard, risk of serious injury or death to young children. PR link.

Raymond James(PBR378) to acquire consumer-focused boutique investment bank Financo, has offices in New York and London, terms not disclosed. PR link.

KKR(PBR611) has sold two major student housing developments totaling 1,380 units in the Netherlands for around $213 million. PR link.

Twitter(PBR677) was fined €450,000 ($548,000) by an Irish regulator on Tuesday, after a bug in its Android app caused some users’ protected tweets to be made public, other EU regulators had pushed for a much higher fine. PR link.

The US Dept of Labor says the 3Q20 US Employer Costs for Employee Compensation-Wages & Salaries Per Hour is at $26.25, Benefits $12.01, 3Q20 Total $38.26, 2Q20 was at $38.21, 1Q20 $37.73, 3Q19 $37.03. PR link.

The US Dept of Commerce/HUD says the Preliminary November 2020 US New Residential Construction Building Permits Issued Annual Rate-Private Housing is at 1,639,000 units, October 2020 was at 1,544,000, September 2020 1,545,000, November 2019 1,510,000. PR link.

The US Federal Reserve Bank of Philadelphia says the December 2020 US 3rd District Manufacturing General Activity Indicator is at 11.1, November 2020 was at 26.3, October 2020 32.3, December 2019 2.4. “Changes in future indexes were mixed this month but suggest that overall growth is expected to continue over the next six months.” PR link.

***Wednesday, December 16

Alphabet(PBR12 $GOOG)’s subsidiary Google is being sued by State of Texas Attorney General and a multistate coalition for multiple violations of federal and state antitrust and consumer protection laws, including anticompetitive conduct, exclusionary practices and deceptive misrepresentations in connection with its role in the multi-trillion-dollar online display advertising industry. TX Attorney General PR link.

Facebook(PBR47 $FB) issues a statement critical of Apple(PBR3 $AAPL)‘s new iOS 14 opt in for ads policy which could impact advertising effectiveness for small businesses. PR link.

Abbott Labs(PBR99 $ABT) gets US FDA Emergency Use Authorization for its virtually guided at-home use of its BinaxNOW™ COVID-19 Ag Card rapid test for detection of COVID-19 infection, result is delivered in around 20 minutes without the need to send it out for processing, priced at $25, partnering with eMed to deliver and administer 30 million BinaxNOW at-home tests in 1Q21, with an additional 90 million in 2Q21. PR link.

The US Federal Open Meeting Committee issues a statement from its December 15-16 meeting, saying “The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.” The FOMC keeps the federal funds rate at 0.00-0.25%, expects to maintain that level for some time. PR link.

The US Dept of Commerce/Census says the Preliminary October 2020 US Sales-Manufacturers is at $488.6 billion, Retailers $497.1 billion, Wholesalers $496.6 billion, October 2020 Total Sales is at $1,482.3 billion, September 2020 was at $1,468.5 billion, August 2020 $1,456.0 billion, October 2019 $1,450.1 billion. PR link.

The US Dept of Commerce/Census says the Advance November 2020 US Retail Sales-Retailers is at $493.3 billion, Food Services & Drinking Places $53.2 billion, for Advance November 2020 Total Retail Sales at $546.5 billion, October 2020 was at $552.5 billion, September 2020 $552.8 billion, November 2019 $525.0 billion. PR link.

The Natl Assn of Home Builders Preliminary December 2020 Housing Market Composite Index is at 86, November 2020 was at 90, October 2020 85, December 2019 76. “Despite the decline, December is still the second-highest reading in the history of the series after last month’s 90. Housing demand is strong entering 2021, however the coming year will see housing affordability challenges as inventory remains low and construction costs are rising.” PR link.

***Tuesday, December 15

Walmart(PBR1) to expand its futuristic delivery capabilities with a new driverless truck trial in its home state of Arkansas, also in Louisiana, in expanded pilot with autonomous vehicle startup GatikBusinessInsider PR link.

Eli Lilly(PBR137) to acquire developer of potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases Prevail Therapeutics(NASDAQ: PRVL) for at least $22.50/share, $880 million cash plus a contigent value right worth up to an additional $4.00/share based on milestone achievements, for up to $1.04 billion cash, to close in 1Q21. PR link.

Uber(PBR222) and Lyft(PBR660) roll out new benefits for California drivers under Prop 22, will provide guaranteed minimum wages and health care subsidies. TheVerge PR link.

Oshkosh(PBR425) to acquire Pratt Miller, which specializes in advanced engineering, technology and innovation across the motorsport and multiple ground vehicle markets, for a cash-free, debt-free purchase price of $115 million, to close in 1Q21. PR link.

Palo Alto Networks(PBR681) completes around $670 million cash and stock plus around $130 million in replacement equity awards acquisition of Expanse, a cybersecurity leader in attack surface management. PR link.

Apollo Global Mgmt(PBR758) and Hudson Executive Capital to acquire world’s largest ATM owner/operator Cardtronics(Nasdaq: CATM) for $35.00/share, around $2.3 billion in cash, includes net debt, to close in 1H21. Cardtronics PR link.

Frontier Communications(PBR373) President/CEO Bernie Han to step down effective 03/01/21, will remain on Board until emergence from Chapter 11, Nick Jeffery hired to be successor on 03/01/21. PR link.

The US Federal Reserve says the Preliminary November 2020 US Factory % of Capacity is at 73.3%, October 2020 was at 73.0%, September 2020 72.3%, November 2019 77.6%, Capacity Growth Over Previous Year is at +0.0%PR link.

The US Dept of Labor says the Preliminary November 2020 US Change in Import Prices is +0.1%, October 2020 was at -0.1%, September 2020 +0.2%, November 2019 +0.2%, Year-to-Year -1.0%Preliminary November 2020 US Change in Export Prices is +0.6%, October 2020 +0.2%, September 2020 +0.6%, November 2019 +0.1%, Year-to-Year -1.1%PR link.

The Federal Reserve Bank of New York says the December 2020 US Empire State Manufacturing General Business Conditions Index is at +4.9, November 2020 was at +6.3, October 2020 +10.5, December 2019 +3.3. “… firms remained optimistic that conditions would improve over the next six months.” PR link.

***Monday, December 14

Amazon(PBR2 $AMZN) to get an order from Sacramento County Superior Court based on a request from the California Attorney General’s Office to comply with outstanding investigative subpoenas, state’s petition alleges that Amazon has failed to adequately comply with lawful requests for information as part of an ongoing investigation into the company’s coronavirus protocols and the status of COVID-19 cases at Amazon facilities across the state. PR link.

Freeport-McMoRan(PBR215 $FCX) completes sale of its non-core interests in the Kisanfu undeveloped cobalt and copper project in Congo to a wholly owned subsidiary of China Molybdenum Co., Ltd. (CMOC) for $550 million. PR link.

Uber(PBR222 $UBER) gets fined $59 million by the California Public Utilities Commission and threatens to suspend Uber’s license to operate in the state over Uber’s refusal to hand over data on sexual assaults. Washington Post PR link.

Bed Bath & Beyond(PBR277 $BBBY) increases share repurchases program from $675 million to $825 million, includes accelerated share repurchase program which has been increased from $225 million to $375 million; to sell its Cost Plus World Market brand to private equity firm Kingswood Capital Management, includes 243 brick-and-mortar locations, the CPWM digital business, 2 distribution facilities and a corporate office located in Alameda, CA, to close by 02/28/21, terms not disclosed. PR link.

Blackstone(PBR402 $BX) to acquire a best‐in‐class, 2.3 million square foot portfolio of lab office buildings, with 90% of the portfolio concentrated in Cambridge, MA, from Brookfield Asset Management for $3.45 billion, to close in 1Q21. PR link.

Electronic Arts(PBR495 $EA) to acquire UK based game developer and publisher CodeMasters for $7.98/share, around $1.2 billion cash, to close by end of 1Q21. PR link.

Alexion Pharmaceutical(PBR538 $ALXN), a global biopharma company with a focus on rare diseases, to be acquired by AstraZeneca (LSE/STO/Nasdaq: AZN), a global biopharmaceutical company, for $175/share, around $39 billion in cash and stock, to close in 3Q21. PR link.

Domino’s Pizza(PBR659 $PZZA) says more than 11,500 company-owned store and supply chain hourly team members and drivers will receive a special bonus in December, an investment totaling more than $9.6 million, with eligible team members earning up to $1,200 in bonus compensation. PR link.

Take-Two Interactive(PBR727 $TTWO) says it is considering its options upon learning that its plan to acquire UK based game developer CodeMasters Group for $6.82/share cash & stock, for an implied equity value of around $994 million is now being acquired by Electronic Arts(PBR495 $EA) for $7.98/share, around $1.2 billion cash. PR link.

Public Storage(PBR774 $PSA) receives letter from hedge fund investor Elliott Management saying PSA is underachieving, makes some suggestions including board refreshment, nominates 6 for the Board. PR link.

Public Storage(PBR774 $PSA) responds to hedge fund investor Elliott Management countering its claims, outlines achievements and plans. PR link.

La-Z-Boy(PBR941 $LZB) to resume its share repurchases program, has 4.5 million shares available, was suspended on 03/29/20 as part of COVID-19 Action Plan. PR link.

The US Federal Trade Commission is issuing orders to nine social media and video streaming companies, including Amazon.com(PBR2 $AMZN), ByteDance, which operates the short video service TikTok, Discord, Facebook(PBR47 $FB), Reddit, Snap(PBR937 $SNAP), Twitter(PBR677 $TWTR), Facebook’s WhatsApp, and Alphabet(PBR12 $GOOG)’s YouTube, requiring them to provide data on how they collect, use, and present personal information, their advertising and user engagement practices, and how their practices affect children and teens, will have 45 days from the date they received the order to respond. PR link.

***Friday, December 11

The PBRMarketTools US Stock Exchanges Recap for Week 50 of 2020 ending 12/11/20:

DJIA ends Week 50 at 30,046.37, -0.57% from last Friday, +1.38% MTD, +8.15% QTD, +5.28% YTD, -0.57% from record 30,218.26 set 12/04/20.

NASDAQ ends Week 50 at 12,377.87, -0.69% from last Friday, +1.47% MTD, +10.84% QTD, +37.95% YTD, -1.63% from record 12,582.77 set 12/08/20.

SPX ends Week 50 at 3,663.46, -0.96% from last Friday, +1.16% MTD, +8.93% QTD, +13.39% YTD, -1.05% from record 3,702.25 set 12/08/20.

The Week 50 of 2020 News Summary:

Coronavirus Pandemic: Cases and deaths surged in the US. As of today, Friday, 12/11/20, at 1:26PM Eastern US, the John Hopkins University CSSE unit says there are now 70,000,538 confirmed cases globally with 1,589,964 deaths, a weekly increase of 75,415, which is -626 from last Friday. For the US it is 15,746,026 confirmed cases and 293,785 deaths, a weekly increase of 15,702, which is +1,656 from last Friday. Hospitals are saying they are nearly maxed out for space because of the pandemic increase, and medical frontline workers are stressed. Various states and local governmental agencies are putting more strict guidelines in place for businesses and mask using in public. An Advisory Panel voted 17-4 with 1 abstention to encourage the US FDA to approve Emergency Use Authorization for the Pfizer/BioNTech vaccine. The US FDA most likely will approve the vaccine, and it is expected that initial doses will be provided early next week. It is also expected that the Moderna vaccine will have the same result next week.

US Presidential Transition: President-Elect Joe Biden has made more selections for high cabinet positions. Republicans continue to push lawsuits to overturn voting results based on procedures used in some key states. Most say there is a very low probability of success. The US House will remain under Democrat majority. In the US Senate the balance remains 50 Republicans, 46 Democrats, 2 Independents that caucus with the Democrats. The open seats will be determined by two runoff elections in Georgia on January 5, both races are too close to call at this time. President Trump has still not officially conceded the race.

US Economy: Most indices released continue to show a modest growing economy. However, with the rise of cases from the pandemic there was a substantial increase in weekly initial unemployment claims. Job openings were up a little bit, hiring was down a little bit, and separations were up a little bit. The Consumer Price Index was +0.2%, the Producer Price Index +0.1%. The U of Michigan Consumer Sentiment Index was up to 81.4, reflecting optimism over the US elections. The federal government receipts and outlays reflected a significant increase in the monthly deficit. The US Congress continues to struggle with coming up with a new stimulus package. Several economists have expressed concern that the longer it takes for a new package the higher probability that the economy will decline and take longer to recover. Of special concern is the unemployment benefits that expire the day after Christmas that will affect millions of workers. The US Congress kicked the can down the road by passing a one week spending bill and will have to wrestle over a new one next week. They did pass a defense spending bill. Both items need to be signed by the President.

International News: The UK and European Union continue to work on a Brexit deal, but it appears that there is a low probability of a successful outcome by year end, which is likely to have an economic impact all over Europe with lots of trade issues left in limbo. With US encouragement Morocco becomes the fourth Islamic nation to agree to normalize relations with Israel. US tech giants continue to be targets for antitrust and privacy issues in Europe and the US.

US Stock Exchanges: There was a lot of IPO action this week as DoorDash and Airbnb became public companies to much fanfare, and some others as well. However, overall it was a pretty non-volatile week, with The Stock Market Bull and The Stock Market Bear staring at each other in the ring and occasionally throwing a jab here and there that had little effect and there were no knockdowns. Even though The Stock Market Bull established new record highs for the NASDAQ and SPX on Tuesday, The Stock Market Bear outpointed the Bull to win the Week 50 bout. The Stock Market Bull will win the weekly and monthly tallies, and it appears he will also take a tumultuous 2020 because a complete collapse in the stock market before year end is not very likely. Hanukkah has started, Christmas is in two weeks, and the end of 2020 the following week. Stay safe, have some fun preparing for the holidays, spend some time thinking about the meaning of this time of year, and enjoy time with those close to you.

The Week 50 of 2020 tally YTD is:
The Stock Market Bull: 24 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 7 weeks

MetLife(PBR48 $MET) to sell Metropolitan Property and Casualty Insurance Company and certain wholly owned subsidiaries to Farmers Group, Inc. (FGI), a subsidiary of Zurich Insurance Group, for $3.94 billion in cash, includes 10-year strategic partnership through which Farmers Insurance® will offer products on MetLife’s leading US Group Benefits platform, to close in 1Q21. PR link.

MetLife(PBR48 $MET) authorizes a new $3 billion share repurchase program, previous authorization has been used. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE(NASDAQ: BNTX) gets US FDA Emergency Use Authorization for its COVID-19 vaccine, taken in 2 doses 3 weeks apart. PR link.

Oracle(PBR80 $ORCL) announces in its 10-Q report, pg 44, that it has moved its corporate headquarters from Redwood City, CA, to Austin, TX. PR link.

Viatris(PBR271 $VTRS) to close, downsize or divest up to 15 manufacturing facilities globally, up to 20% of its global workforce of approximately 45,000 may be impacted. PR link.

AMC Entertainment(PBR503 $AMC) expects to receive $100 million of cash from Mudrick Capital Management on 01/15/21 in a financing of First Lien Notes due April 2026, Mudrick will also convert $100 million of existing AMC debt into AMC common stock. PR link.

TreeHouse Foods(PBR606 $THS) has completed the acquisition of the majority of Ebro’s Riviana Foods US branded pasta business for $242.5 million cash, expected to generate $170-180 million in annual revenues. PR link.

KKR(PBR611 $ELAN) acquires a portfolio of approximately 9.7 million sf of industrial real estate properties located in seven major markets across the US from High Street Logistics Properties for around $835 million, now has around 30 million sf of industrial properties. PR link.

Elanco Animal Health(PBR733 $ELAN) to acquire exclusive global rights to Kindred Biosciences (NASDAQ: KIN)‘s KIND-030, a first-of-its-kind monoclonal antibody being developed for the treatment and prevention of canine parvovirus (CPV), includes an upfront payment of $500,000 and additional milestone payments based on successful completion of development targets, including efficacy, formulation and manufacturing, and sales. PR link.

The US Dept of Labor says the Preliminary November 2020 US Total Final Monthly Demand Producer Price Index is at +0.1%, October 2020 was at +0.3%, September 2020 +0.4%, November 2019 -0.1%, Last 12 Months(Unadjusted) is at +0.8%PR link.

The U of Michigan Preliminary December 2020 US Consumer Sentiment Index is at 81.4, November 2020 was at 76.9, October 2020 81.8, December 2019 99.3. “Most of the early December gain was due to a more favorable long-term outlook for the economy, while year-ahead prospects for the economy as well as personal finances remained unchanged.” PR link.

***Thursday, December 10

Amazon(PBR2 $AMZN) fined around $42 million by France’s CNIL regulatory agency for for having placed advertising cookies on users’ computers, from the page amazon.fr, without obtaining prior consent and without providing adequate information. PR link.

Alphabet(PBR12 $GOOG)’s Google unit fined around $121 million by France’s CNIL regulatory unit for for having placed advertising cookies on the computers of users of the search engine google.fr, without obtaining prior consent and without providing adequate information. PR link.

Gilead Sciences(PBR134 $GILD) to acquire MYR GmbH, a German biotechnology company focused on the development and commercialization of therapeutics for the treatment of chronic hepatitis delta virus (HDV), for around $1.29 billion cash, plus up to around $335 million for milestone achievements. PR link.

Tenet Healthcare(PBR166 $THC) to acquire a portfolio of up to 45 ambulatory surgery centers from SurgCenter Development for around $1.1 billion, to close by 12/31/20. PR link.

Leidos(PBR279 $LDOS) to acquire Reston, VA based 1901 Group, a leading provider for managed IT services and cloud solutions in the private and public market with 26 locations across the US, for $215 million cash, to close in 1Q21. PR link.

Raymond James(PBR390 $RJF) to acquire Seattle, WA based NWPS/Northwest Plan Services, an independent provider of retirement plan administration with around 160 employees, 400,000+ participants, and $35+ billion in plan assets, to close by 12/31/20, terms not disclosed. PR link.

AvalonBay Communities(PBR849 $AVB) hires Benjamin Schall as President, to be effective by 02/01/21, Chairman/President/CEO Timothy Naughton to retire as CEO at end of 2021, will become Executive Chairman, Schall to then become CEO. PR link.

The US Dept of the Treasury says the November 2020 US Federal Government Receipts are at $220.0 billion, Outlays $364.8 billion, for a Deficit of $145.3 billion, October 2020 Deficit was at $284.1 billion, September 2020 $124.6 billion, November 2019 $208.8 billion; November 2020 YTD Deficit(2 months) is at $429.3 billion, November 2019 was at $343.3 billion. PR link.

The US Dept of Labor says the Preliminary November 2020 US Current Average Earnings/Hour is at $29.58, Average Hours Worked/Week is at 34.8, for Current Average Earnings/Week of $1,029.38, October 2020 was at $1,026.25, September 2019 $1,025.56, November 2019 $972.06. PR link.

The US Federal Reserve says the Preliminary 3Q20 US Networth of Households & Non-Profits is at $123.520 trillion, 2Q20 was at $119.702 trillion, 1Q20 $111.409, 3Q19 $114.752. PR link.

The US Dept of Labor says the November 2020 US Consumer Price Index is at +0.2%, October 2020 was at +0.0%, September 2020 +0.2%, November 2019 +0.2%, Last 12 Months +1.2%PR link.

***Wednesday, December 9

AT&T(PBR9 $T)’s Warner Media unit to sell its Crunchyroll anime direct-to-consumer service to Funimation Global Group, a joint venture between Sony Pictures Entertainment and Sony Music Entertainment (Japan)’s subsidiary, Aniplex Inc, for $1.175 billion cash. PR link.

GE(PBR33 $GE) has agreed to pay a $200 million penalty to the US Securities and Exchange Commission to settle charges for disclosure failures in its GE Power and GE Capital insurance businesses. SEC PR link.

Lowe’s(PBR44 $LOW) authorizes an additional $15 billion share repurchase program, no time limit, balance available is now $19.7 billion. PR link.

Facebook(PBR47 $FB) being sued by the US Federal Trade Commission, 46 states, Washington, DC and Guam for illegal monopolization from its acquisitions of Instagram and WhatsAppFTC PR link.

LabCorp(PBR262 $LH) gets US FDA Emergency Use Authorization (EUA) for the Pixel by LabCorp™ COVID-19 Test Home Collection Kit to become the first to be available over the counter without requiring a prescription, may be covered by medical insurance, out of pocket is $119. PR link.

Amphenol(PBR368 $APH) to acquire global supplier of advanced test systems, motion simulators and precision sensors MTS Systems(Nasdaq: MTSC) for $1.7 billion, includes debt, to close by mid 2021. PR link.

Encompass Health(PBR571 $EHC) is exploring strategic alternatives for its home health and hospice business with a range of options being consideration, including the full or partial separation of the home health and hospice business from Encompass Health through an initial public offering, spin-off, merger, sale or other transaction. PR link.

Cinemark(PBR699 $CNK) has sold more than 100,000 of its Private Watch Parties for 1.3 million moviegoers, pricing starts at $99. PR link.

Apollo Global Mgmt(PBR758 $APO) and and Hudson Executive Capital make a proposal to Cardtronics(NASDAQ: CATM) for $31.00/share, around $1.38 billion, Board will review and assess the terms of the proposal. Cardtronics PR link.

Public Storage(PBR777 $PSA) completes first phase acquisition of 24 units of Beyond Self Storage, to acquire the remaining 12 units upon their completion in 2021, total investment is $528 million. PR link.

Cleveland-Cliffs(PBR897 $CLF) completes $1.4 billion acquisition of ArcelorMittal USA, makes Cleveland-Cliffs the largest flat-rolled steel producer in N America, with combined shipments of approximately 17 million net tons in 2019, will also be the largest iron ore pellet producer in N America, with 28 million long tons of annual capacity. PR link.

Starbucks(PBR109 $SBUX) appoints Vice-Chair Mellody Hobson as Non-Executive Chair, will succeed current chair, Myron E. Ullman, III upon his retirement in 03/21. PR link.

The US Dept of Labor says the Preliminary October 2020 US Job Openings-Private is at 5,950,000, Government 702,000, for an October 2020 Total Job Openings of 6,652,000, September 2020 was at 6,494,000, August 2020 6,352,000, October 2019 7,309,000. PR link.

The US Dept of Commerce/Census says the Preliminary October 2020 US Wholesale Sales-Durables is at $244.5 billion, Non-Durables $252.1, October 2020 Total Wholesale Sales is at $496.6 billion, September 2020 was at $487.7 billion, August 2020 $485.7 billion, October 2019 $492.1 billion. PR link.

***Tuesday, December 8

GE(PBR33 $GE) voluntarily pre-funds $2.5 billion of estimated minimum ERISA GE Pension Plan funding requirements for 2021, 2022, and into 2023, repays $1.5 billion of its intercompany loan to GE Capital, actions to further solidify its financial position. PR link.

Apple(PBR4 $AAPL) to launch on 12/14/20 its Fitness+ app, the first fitness experience built around Apple Watch, $9.99/mo or $79.99/year; introduces its AirPods Max headset, over-ear design, features high-fidelity audio, Adaptive EQ, Active Noise Cancellation, and spatial audio, available starting 12/15/20, priced at $549. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE(NASDAQ: BNTX)‘s investigational COVID-19 vaccine (BNT162b2) 38,000 participants phase 3 study suggests a favorable safety profile, with no specific safety concerns identified that would preclude issuance of a US FDA Emergency Use Authorization, FDA committee meets 12/10/20. PR link.

Goldman Sachs(PBR87 $GS) to acquire 100% of its mainland Chinese joint venture from partner Beijing Gao Hua Securities, the latest global bank to seek full control of its business as Beijing further opens up the financial sector. South China Morning Post PR link.

Tesla(PBR119 $TSLA) to sell up to $5 billion of its common stock from time to time, through an “at-the-market” offering program. PR link.

Uber(PBR224 $UBER) to invest a further $75 million in Joby Aviation, a transportation company developing an all-electric, vertical take-off and landing passenger aircraft, which it intends to operate as early as 2023, after initial investment of $50 million in 01/20, deal includes Joby’s acquisition of software tool Uber Elevate for the aerial ridesharing market. PR link.

US Steel(PBR239 $X) has exercised its call option to acquire the remaining equity of Big River Steel for approximately $774 million cash, acquired 49.9% equity stake in 10/19, to close in 1Q21. PR link.

Foot Locker(PBR379 $FL) adopts a short-term shareholder rights plan in response to a recent significant accumulation of the Company’s stock by Vesa Equity Investment, the Company’s largest shareholder, which currently has a 12.2% stake. PR link.

Sirius XM Radio(PBR388 $SIRI) popular radio talk show host Howard Stern extends exclusive agreement for 5 more years, audio/video archives to continue for an additional 7 years. PR link.

Activision Blizzard(PBR449 $ATVI)’s World of Warcraft® Shadowlands sells more than 3.7 million units on first day of release, a new pc gaming record, versions from $39.99 to $79.99. PR link.

The US Dept of Labor says the 3Q20-1st Revision US Labor Business Productivity Output/Hour is at +6.0%, 2Q20 was at +9.6%, 1Q20 +0.0%, 3Q19 +0.2%. PR link.

CoreLogic says the September 2020 US Housing Loans 30 or More Days Delinquent is at 6.3%, August 2020 was at 6.6%, July 2020 6.6%, September 2019 3.8%. “Although delinquencies remain high, it’s clear the economy has passed an initial stress test. High home equity balances and structural protections put in place as a result of the Great Recession contributed to surviving this test. Housing demand remains strong, and rates low, which provides optimism that the housing market will continue to be a bright spot in this COVID-ravaged economy.” PR link.

***Monday, December 7

Raytheon Technologies(PBR39 $RTX) authorizes up to $5 billion share repurchase program, replaces previous authorization approved on 10/14/15. PR link.

Northrop Grumman(PBR91 $NOC) to sell its federal IT and mission support business, expected to generate around $2.3 billion in revenues in 2020, to Veritas Capital, for $3.4 billion, to close in 1H21. PR link.

Altria(PBR115 $MO) gets US FDA authorization for the commercialization of its next generation of the IQOS tobacco heating system device, IQOS 3. PR link.

Carrier(PBR165 $CARR) to sell its remaining interest in Swedish based commercial and industrial refrigeration as well as heating and air conditioning products provider Beijer Ref AB, consisting of A and B shares, to global investment firm EQT, for around $1.1 billion, to close by 12/31/20. PR link.

Uber(PBR224 $UBER) autonomous vehicle technologies unit Apparate USA to be acquired by Aurora Innovation, Uber to also make a $400 million equity investment in Aurora, combined transaction will result in Uber having a 26% stake in Aurora, to close in 1Q21. PR link.

DISH(PBR243 $DISH) agrees to pay $210 million settlement with the US Dept of Justice and several states for committing certain telemarketing violations. PR link.

Adobe Systems(PBR275 $ADBE) completes $1.5 billion acquisition of work management platform for marketers provider with 3,000 customers with 1 million users WorkfrontPR link.

Huntsman(PBR430 $HUN) to acquire around $106 million of revenues in 2019 Gabriel Performance Products, a N American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity, for $250 million, to close in 1Q21. PR link.

Post Holdings(PBR483 $POST) to acquire the iconic nationally recognized Peter Pan peanut butter brand, which is currently co-manufactured by 8th Avenue Food & Provisions, an affiliate of Post, from Conagra Brands(PBR281 $CAG), to close in 1Q21, terms not disclosed. PR link.

Apollo Global Mgmt(PBR758 $APO) to acquire the Italian B2C gaming machine, sports betting, and digital gaming businesses of International Gaming Technology(NYSE: IGT)‘s Italian affiliate for around $1.1 billion cash, to close in 1H21. IGT PR link.

NortonLifeLock(PBR821 $NLOK) to acquire consumer-focused portfolio of cybersecurity and privacy solutions to a strong base in Europe and key emerging markets provider Avira, from Investcorp Technology Partners, for around $360 million cash, to close by 02/28/21. PR link.

Ingersoll-Rand(PBR828 $IR) to acquire Springfield, MO based 160 employees with around $60 million in annual revenues Tuthill Vacuum and Blower Systems for $184 million cash, to close in 1Q21. PR link.

SL Green Realty(PBR986 $SLG) increases share repurchase program by $500 million, total authorizes is now $3.5 billion. PR link.

The US Federal Reserve says the Preliminary October 2020 US Consumer Credit Outstanding-Revolving is at $979.6 billion, Non-Revolving $3,184.6 billion, October 2020 Total Consumer Credit Outstanding is $4,164.2 billion, September 2020 was at $4,157.0 billion, August 2020 $4,142.0 billion, October 2019 4,163.3 billion. PR link.

The FannieMae November 2020 US Home Purchase Sentiment Index is at 80.0, October 2020 was at 81.7, September 2020 81.0, November 2019 91.5. “The HPSI appears to have peaked for now as consumers continue to consider how COVID-19 impacts their ability to buy or sell a home… This follows the HPSI’s recovery of slightly more than half of the loss experienced during the first few months of the pandemic.” PR link.

***Friday, December 4

The PBRMarketTools US Stock Exchanges Recap for Week 49 of 2020 ending 12/04/20:

DJIA ends Week 49 at record 30,218.26, +1.03% from last Friday, +1.96% MTD, +8.77% QTD, +5.89% YTD, +0.00% from record 30,218.26 set 12/04/20.

NASDAQ ends Week 49 at record 12,464.23, +2.12% from last Friday, +2.18% MTD, +11.61% QTD, +38.91% YTD, +0.00% from record 12,464.23 set 12/04/20.

SPX ends Week 49 at record 3,699.12, +1..67% from last Friday, +2.14% MTD, +9.99% QTD, +114.50% YTD, +0.00% from record 3,699.12 set 12/04/20.

The Week 49 of 2020 News Summary:
A top story continues to be the ongoing Coronavirus Pandemic, as it hits new weekly highs for infections and deaths. As of today, Friday, 12/04/20, at 2:28PM Eastern US, the John Hopkins University CSSE unit says there are now 65,686,172 confirmed cases globally with 1,514,549 deaths, a weekly increase of 76,041, which is +6,279 from last Friday. For the US it is 14,297,251 confirmed cases and 278,083 deaths, a weekly increase of 14,046, which is +3,891 from last Friday. Health experts are expecting an even greater increase soon from the lack of social distancing and use of masks during the US Thanksgiving week as families and friends gathered, with millions traveling many miles. Cooler temperatures are also contributing. But there continues to be optimism as vaccines are approved for emergency use authorization, manufacturing is ramped up, and distribution plans made. Initial inoculations should start in late December/early January. In US politics the President-Elect Joe Biden has introduced some cabinet and high level appointments, and starting to say which policies he plans start working on when inaugurated, like rejoining the Paris Climate Change and the World Health Organization. President Trump has been somewhat silent, still has not personally conceded the election, and has already raised over $200 million for another run in 2024. US economic news generally continued to support a modest increase. This was reiterated in the Federal Reserve Beige Book. Weekly initial unemployment claims are not falling as fast as most people would like, the jobs reports show modest growth at best, but manufacturing orders continue to increase, and business and consumer surveys indicate near term optimism. A cause for concern is that trade imbalances continue to increase. Retail sales overall, especially from online purchases, reached record levels during the Black Friday through Cyber Monday annual holiday shopping frenzy. There is still a chance Congress will pass another stimulus bill before year end, and it must also resolve government funding and military spending issues. The Stock Market Bull feasted too much over the Thanksgiving Weekend and slept in on Monday. The Stock Market Bear took advantage and had a big day. But The Stock Market Bull returned on Tuesday, dominated the week, and all 3 major US stock indices ended Week 49 at record highs. The Stock Market Bull has now clinched victories for most months and weeks won, and there does not appear to be any chance The Stock Market Bear can cause a complete collapse of the markets over the 4 weeks remaining. Stay safe, healthy and warm!

The Week 49 of 2020 tally YTD is:
The Stock Market Bull: 24 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 7 weeks

Eli Lilly(PBR139 $LLY) and United Health(PBR7 $UNH) to partner in a pragmatic study of bamlanivimab (LY-CoV555) in high-risk, COVID-19 infected individuals; bamlanivimab recently received Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration for the treatment of mild to moderate COVID-19 patients who are at high risk for progressing to severe COVID-19 and/or hospitalization. PR link.

MGM Resorts(PBR241 $MGM) launches digital gaming service BetMGM Casino in Pennsylvania, includes 140+ games accessible on Android, IOS, and desktops. PR link.

PSEG(PBR308 $PEG) to acquire 25% ownership interest from Orsted N America in 1,100 megawatt Ocean Wind project, New Jersey’s first offshore wind farm,could provide power by end of 2024. PR link.

Quest Diagnostics(PBR392 #DGX) gets US FDA authorization for first diagnostic test for at home collection of patient samples to detect both COVID-19 and influenza A and B (flu), the Quest Diagnostics RC COVID-19 +Flu RT-PCR Test for prescription use with the Quest Diagnostics Self-Collection Kit for COVID-19 +Flu by individuals who are suspected of respiratory viral infection consistent with COVID-19 when home collection is determined to be appropriate by an individual’s healthcare provider. PR link.

Blackstone(PBR404 $BX) completes $4.7 billion acquisition of online family history provider with 3 million subscribers and $1+ billion in annual revenues Ancestry® from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders. PR link.

Alliance Data(PBR492 $ADS) completes around $450 million cash and stock acquisition of Bread, a tech-driven digital payments company with an omnichannel solution for retailers and platform capabilities to banks. PR link.

Elanco Animal Health(PBR733 $ELAN) is making Indiana its base for future global consolidated operations, anchored by a new streamlined fit-for-purpose global headquarters in downtown Indianapolis, will take 2-3 years for the construction project. PR link.

Interactive Brokers(PBR814 $IBKR) to acquire the self-directed retail brokerage segment with its 70,000 customers of Folio Investments, which was acquired by Goldman Sachs(PBR87) on 09/18/20, to close in 01/21, terms not disclosed. PR link.

The Cheesecake Factory(PBR823 $CAKE) agrees to pay $125,000 in settlement to the US Securities and Exchange Commission for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition; is first public company to be charged. PR link.

The US Dept of Labor says the November 2020 Civilian Labor Force Employed is at 149,723,000, October 2020 was at 149,806,000, September 2020 147,536,000, November 2019 158,536,000; November 2020 Unemployment Rate is at 6.7%, October 2020 was at 6.9%, September 2020 7.9%, November 2019 3.5%. PR link.

The US Dept of Commerce/Census says the Preliminary October 2020 US Manufacturers New Orders-Durables is at $241.0 billion, Non-Durables $239.8 billion, Total New Orders $480.8 billion, September 2020 was at $475.9 billion, August 2020 $469.8 billion, October 2019 $496.6 billion. PR link.

The US Dept of Commerce/Census says the Preliminary October 2020 US Exports-Goods is at $126.3 billion, Services $55.7 billion, Total Exports $182.0 billion; October 2020 US Imports-Goods is at $207.8 billion, Services $37.4 billion, Total Imports $245.2 billion; October 2020 Trade Deficit is at $63.2 billion, September 2020 was at $62.0 billion, August 2020 $64.9 billion, October 2019 $42.9 billion; October 2020 Total Deficit YTD(10 months) is at $536.7 billion, October 2019 was at $489.7 billion. PR link.

***Thursday, December 3

Walmart(PBR1 $WMT) to pay out over $700 million in additional associate bonuses for the holiday season, will have paid over $2.8 billion total cash bonuses to associates in 2020. PR link.

Chevron(PBR16 $CVX) announces $14 billion capital and exploratory budget for 2021. PR link.

Boeing(PBR40 $BA) gets order from Ryanair for 75 additional 737 MAX jets, grows its firm 737 order book to 210 airplanes. PR link.

Facebook(PBR47 $FB) being sued by the US Dept of Justice, alleges Facebook favors H-1B visa workers and other temporary visa holders over US workers. US DOJ PR link.

Pfizer(PBR62 $PFE) now plans to have 50 million of its COVID-19 vaccine produced by end of 2020, had previously said 100 million, says scaling up the raw material supply chain took longer than expected, still plans to produce over $1 billion doses in 2021. Wall Street Journal PR link.

3M(PBR98 $MMM) restructuring in response to COVID-19 pandemic, expects to impact around 2,900 positions globally. PR link.

Southwest Airlines(PBR135 $LUV) sends notice of potential furloughs to nearly 7,000 employees, will take place March 15 or April 1 or within 14 days after those dates. bizjournals PR link.

International Paper(PBR138 $IP) to pursue a spin-off of its Printing Papers segment into a standalone, publicly traded company by end of 3Q21, new company will have around $4 billion in annual sales, 8 mills with 2.9 million metric tons of annual capacity and 0.4 million metric tons of coated paperboard capacity, IP to focus on corrugated packaging and absorbent cellulose fibers. PR link.

Intuit(PBR394 $INTU) completes $8.1 billion cash and stock acquisition of $1 billion in revenues Credit Karma, a consumer technology platform with more than 110 million members in the US, Canada and UK. PR link.

AMC Entertainment(PBR503 $AMC) to offer up to 200 million shares of its Class A stock, stock price at NYSE close on 12/02/20 was at $4.32/share. PR link.

Michael’s Cos(PBR535 $MIK) in 3Q20 report announces special bonus to be paid in the 4Q for team members totaling approximately $10 million in one-time holiday bonuses to both full-time and part-time team members. PR link.

Express(PBR892 $EXPR) says in 3Q20 report that it has completed a 10% workforce reduction at its Columbus, OH corporate office, expected to result in $13 million in benefits in 2021. PR link.

Parsley Energy(PBR903 $PE) sets 01/12/21 as date for special shareholders meeting to vote on $7.6 billion acquisition by Pioneer Natural Resources(PBR479 $PXD)PR link.

Curtiss-Wright(PBR822 $CW) Chairman/CEO David Adams to retire CEO role effective 01/01/21, to be Executive Chairman through 05/22 annual meeting, President/Defense and Power Segments Lynn Bamford to become President/CEO on 01/01/21, add Chairman role in 05/22. PR link.

IHS Markit says the November 2020 US Composite PMI Output Index is at 58.6, October 2020 was at 56.3, September 2020 54.3, November 2019 52.0. “… manufacturing and service sector firms both recorded faster expansions in output. The rate of growth was the sharpest since March 2015… business expectations strengthened to the highest since May 2014 amid vaccine hopes and signs of pent-up demand being released.” PR link.

The Institute for Supply Management(ISM) says the November 2020 US Services PMI Index(>50% economy is growing) is at 55.9%, October 2020 was at 56.6%, September 2020 57.8%, November 2019 53.9%. “In November, there continued to be a slight pullback in the rate of growth in the services sector. Respondents’ comments are mixed about business conditions and the economy. Restaurants continue to struggle with capacity constraints and logistics. Most companies are cautious as they navigate operations amid the pandemic and the aftermath of the U.S. presidential election…” PR link.

***Wednesday, December 2

Walmart(PBR1 $WMT) is removing the $35 shipping minimum for Walmart.com orders for its Walmart+ members beginning 12/04/20, delivery from Walmart stores on items like groceries will still carry a $35 minimum. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE(NASDAQ: BNTX) COVID-19 mRNA vaccine gets Emergency Use Authorization in the UK, first authorization in the world, already has an agreement to supply a total of 40 million doses to the UK with delivery in 2020 and 2021, US FDA and EU EMA decisions expected in December. PR link.

AbbVie(PBR94 $ABBV) to pay Frontier Medicines an up front fee of $55 million plus additional milestone payments in multi-year global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets. PR link.

Mondelez(PBR112 $MDLZ) extends share repurchase program for an additional three years to 12/31/23, replaces existing authorization set to expire 12/31/20, also approves a $4 billion increase to the share repurchase program authorization, brings balance to approximately $6 billion. PR link.

Eli Lilly(PBR139 $LLY) gets $812.5 million purchase order from the US government for an additional 650,000 doses of its neutralizing antibody bamlanivimab (LY-CoV555) 700 mg, doses will be delivered through 01/21/21, with at least 350,000 of the additional doses delivered in 12/20. PR link.

Becton Dickinson(PBR182 $BDX) to invest around $1.2 billion over a 4-year period to expand and upgrade manufacturing capacity and technology for pre-fillable syringes (PFS) and advanced drug delivery systems (ADDS) across its six global manufacturing locations and add a new manufacturing facility in Europe. PR link.

XPO Logistics(PBR192 $XPO) to pursue a spin-off of 100% of its logistics segment as a separate publicly traded company, shareholders to own stock in both companies. PR link.

Discovery(PBR277 $DISCA) announces global launch of discovery+, the definitive non-fiction, real life subscription streaming service, debuting in the US on 01/04/21, includes partnership with Verizon(PBR20 $VZ) that gives its customers with select plans 12 months of discovery+ on Verizon, already rolled out in the UK, Ireland and India, initial 25 countries planned. PR link.

Norwegian Cruise Lines(PBR451 $NCLH) extends suspension on voyages through 02/28/21 and select voyages in March. PR link.

LPL Financial(PBR487 $LPLA) to acquire Waddell & Reed(PBR998 $WDR)’s Wealth Management business for $300 million from Macquarie Group (ASX: MQG) when it acquires Waddell & Reed, Macquarie to enter into a long-term partnership with LPL, will become one of LPL’s top tier strategic asset management partners, to close in mid 2021. PR link.

Abercrombie & Fitch(PBR658 $ANF) in its 3Q report says it will have closed 7 of its 15 flagship stores by 01/31/21, repositioning from larger format, tourist-dependent flagship locations to smaller, omni-enabled stores that cater to local customers. PR link.

Waddell & Reed(PBR998 $WDR) to be acquired by division of Macquarie Group (ASX: MQG) for $25.00/share, $1.7 billion, to close in mid 2021. PR link.

The US Federal Reserve releases the Beige Book, for data through 11/20/20. “Most Federal Reserve Districts have characterized economic expansion as modest or moderate since the prior Beige Book period. However, four Districts described little or no growth, and five narratives noted that activity remained below pre-pandemic levels for at least some sectors.” PR link.

ADP says the Preliminary November 2020 US National Change In Employment-Small Businesses is at +110,000, Mid-Sized +139,000, Large-Sized +58,000, Total +307,000, October 2020 was at +404,000, September 2020 +754,000, November 2019 +161,000; November 2020 Goods Producing Jobs are at +31,000, Services Sector +276,000. PR link.

***Tuesday, December 1

Wells Fargo(PBR26 $WFC) to sell its Des Moines, IA-based Centurion Life Insurance, licensed in 47 states and the District of Columbia, to Dallas, TX-bases insurtech startup Bestow, to close in 01/21, terms not disclosed. Barron’s PR link.

Hewlett Packard Enterprises(PBR101 $HPE) in its fiscal year 4Q20 report announces it is moving its corporate headquarters from San Jose, CA, to Houston, TX, its largest employment hub; San Jose to remain an innovation center, no layoffs are planned. PR link.

SYNNEX(PBR126 $SNX) completes spin-off of global CX solutions company Concentrix Corporation(NASDAQ: CNXC) to SYNNEX shareholders. PR link.

Kohl’s(PBR159 $KISS) and largest specialty beauty retailer in the world Sephora enter into a long-term strategic partnership, “Sephora at Kohl’s” to be in 200 Kohl’s stores in Fall 2021, will have 2,500 sf near front of the store, to expand to at least 800 stores by 2023. PR link.

Salesforce(PBR185 $CRM) to acquire channel-based messaging platform Slack(NYSE: WORK) for $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, for an enterprise value of around $27.7 billion, to close by 07/31/21. PR link.

Uber(PBR224 $UBER) completes the $2.65 billion acquisition of Postmates delivery service. PR link.

Lithia Motors(PBR245 $LAD) has acquired Ramsey Subaru and Mazda, the highest-volume Subaru and Mazda dealers in Iowa, expected to add $100 million in annual revenues. PR link.

Boston Scientific(PBR289 $BSX) to sell its developer, manufacturer and commercializer of life-saving antidotes used in hospitals and emergency care settings BTG Specialty Pharmaceuticals to affiliates of SERB, a European specialty pharmaceutical group, for $800 million cash, to close in 1H21. PR link.

Altice USA(PBR316 $ATUS) completes $3.2 billion sale of 49.99% of its Lightpath fiber enterprise business, serving the New York City metro area, to Morgan Stanley, ATUS will maintain control of Lightpath. PR link.

JM Smucker(PBR387 $SJM) completes around $550 million cash sale of its 160 employees $270 million in revenues for year ending 04/30/20 Crisco® oils and shortening business to B&G FoodsPR link.

Coty(PBR563 $COTY) completes $3.5 billion sale of its 60% ownership in Coty’s Professional and Retail Hair business, including the Wella, Clairol, OPI and ghd brands, to KKR(PBR609)PR link.

Hologic(PBR683 $HOLX) gets US FDA clearance and commercial availability of its Genius AI™ Detection technology, a new deep learning-based software designed to help radiologists detect subtle potential cancers in breast tomosynthesis images. PR link.

Elanco Animal Health(PBR733 $ELAN) shareholder Bayer AG affiliate to sell 54.5 million Elanco common shares at $30.25/share in a public offering, scheduled to close 12/03/20. PR link.

Tailored Brands(PBR771 $TLRDQ) emerges from Chapter 11 bankruptcy, emerges with a significantly bolstered financial position, $686 million of debt eliminated from its balance sheet and the full support of its new owners. PR link.

Vornado Realty Trust(PBR907 $VNO) to reduce overhead costs by over $35 million annually, which involves compensation reductions and a 70 person reduction in force. PR link.

Wendy’s(PBR939 $WEN), Rebel Foods and Sierra Nevada Restaurants agree to a strategic partnership to expand Wendy’s® presence in India over the next decade, Rebel Foods will partner with Sierra Nevada Restaurants to develop and operate approximately 250 Wendy’s cloud kitchens across India, and Sierra Nevada will develop 150 traditional Wendy’s restaurants. PR link.

The US Dept of Commerce/Census says the Preliminary October 2020 US Construction Spending Annual Rate-Residential is at $646.1 billion, Non-Residential $792.4, Total $1,438.5 billion, September 2020 was at $1,420.4 billion, August 2020 $1,426.9 billion, October 2019 $1,386.8 billion. PR link.

The Institute for Supply Management says the November 2020 US Manufacturing PMI Index(>50% economy expanding) is at 57.5%, October 2020 was at 59.3%, September 2020 55.4%, November 2019 48.1%. “Manufacturing performed well for the sixth straight month, with demand, consumption and inputs registering growth, but at slower rates compared to October. Labor market difficulties, both current and anticipated, at panelists’ companies and their suppliers will continue to dampen the manufacturing economy until the coronavirus (COVID-19) crisis ends…” PR link.

IHS Markit says the November 2020 US Manufacturing PMI Index is at 56.7, October 2020 was at 53.4, September 2020 53.2, November 2019 52.6. “… expectations regarding output over the coming year improved to the strongest since February 2015. Hopes of a vaccine and sustained increases in client demand reportedly drove optimism.” PR link.

The Purdue U/CME Group November 2020 US Ag Economy Barometer Composite Index is at 167, October 2020 was at 183, September 2020 156, November 2019 153. “Farmer sentiment pulls back post-election: regulation, trade, and taxes rated as top concerns.” PR link.

Adobe Systems(PBR275) says a record $10.8 billion was spent online by the end of Cyber Monday, an increase of 15.1 percent YoY, making it the largest online shopping day in US history and beating last year’s $9.4 billion record. Total season-to-date spending (November through Cyber Monday) was $106.5 billion (27.7 percent YoY growth), surpassing the $100 billion milestone nine days faster than last year. Smartphones accounted for 41.1 percent of revenue during the five-day period. PR link.

***Monday, November 30

The PBRMarketTools US Stock Exchanges Recap for November ending 11/30/20: DJIA ends November at 29,638.64, -0.91% from last Friday, +11.84% MTD, +6.68% QTD, +3.86% YTD, -1.36% from record 30,046.24 set 11/24/20NASDAQ ends November at 12,198.74, -0.06% from last Friday, +11.80% MTD, +9.23% QTD, +35.46% YTD, -0.06% from record 12,205.85 set 11/27/20SPX ends November at 3,621.63, -0.46% from last Friday, +10.75% MTD, +7.69% QTD, +12.10% YTD, -0.46% from record 3,638.35 set 11/27/20.

The YTD tally through November 2020 is:
The Stock Market Bull: 6 months
The Stock Market Bear: 4 months
Mixed Results: 1 month

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The PBR1000 November 2020 Breaking News Recap

The PBR1000 for November: Who Will Live Here In January?

PBR1000 White House Politics

This is the most recognizable home in the US, and in a bizarre year of many twists, turns and controversies this month of November will determine who gets to live in it for the next 4 years.

The November 2020 breaking news items of interest for The PBR1000 follow with the most current date first.

***Monday, November 30

The PBRMarketTools US Stock Exchanges Recap for November ending 11/30/20: DJIA ends November at 29,638.64, -0.91% from last Friday, +11.84% MTD, +6.68% QTD, +3.86% YTD, -1.36% from record 30,046.24 set 11/24/20NASDAQ ends November at 12,198.74, -0.06% from last Friday, +11.80% MTD, +9.23% QTD, +35.46% YTD, -0.06% from record 12,205.85 set 11/27/20SPX ends November at 3,621.63, -0.46% from last Friday, +10.75% MTD, +7.69% QTD, +12.10% YTD, -0.46% from record 3,638.35 set 11/27/20.

The November 2020 News Summary: At the start of the month the big headlines revolved around the US Presidential election, who would control the US Senate, and how the US House might change. On November 3rd citizens cast their votes. That night it appeared the election could go either way. This continued for a few days until finally it was clear that former VP Joe Biden had over 50% of the popular vote and the electoral votes needed by very slim margins in a few key states. This has resulted in several lawsuits filed and some recounts. The bottom line is that the Biden/Harris ticket is generally regarded as the winner. After some delays waiting for results of the lawsuits and recounts Joe Biden was officially declared President-Elect, and the transition process has begun. However, President Trump still feels there was significant voter fraud, continues the battle, and has not yet conceded, but has said he will accept the Electoral College results. For the US Senate the Republicans lost a seat to the Democrats. The result is that the US Senate has 50 Republicans, 46 Democrats, and 2 Independents who generally caucus with Democrats. The remaining 2 seats are from the State of Georgia where two special runoff elections are scheduled for January 5, 2021. At this time it would appear that the Republicans will probably win at least 1 seat, and maintain the slimmest of margins to maintain control in the US Senate. But there is still plenty of time and it is estimated that around $1 billion will be spent on the campaigns. For the US House the Democrats will maintain their majority, currently with 222 members(218 needed for a majority), the Republicans 207, with 6 seats still not decided or runoffs are scheduled. The feared civil unrest has been very minimal, the voter fraud allegations seem to be lacking evidence, and the general population seems ready to accept the Biden/Harris victory and move on. As the politics were generally settled down by the end of the month the Coronavirus Pandemic was escalating. As of today, Monday, 11/30/20, at 7:27PM Eastern US, the John Hopkins University CSSE unit says there are now 63,189,103 confirmed cases globally with 1,466,762 deaths, a monthly increase of 280,337. For the US it is 13,536,216 confirmed cases and 267,987 deaths, a monthly increase of 38,631. During the month Pfizer, Moderna, and AstraZeneca announced that their candidate vaccines have proven effective in Phase 3 studies and have applied for or are planning to apply for Emergency Use Authorization with the US Federal Drug Administration. If approved the vaccines could become available in late December/early 2021. The end of the month increases of cases requiring hospitalization are stretching healthcare facilities and team members, and there are concerns that cooler temperatures and traditional Thanksgiving and Christmas gatherings could create some super-spreader events. International trade issues still remain, especially between the US and China, nothing has been publicly stated on any progress. The UK is now trying to put together a trade deal with the European Union, a result of Brexit, but there are a lot of complications and details to work out. US economic news indicated a fragile moderate improvement as US businesses try to remain open. But weekly unemployment insurance claims have risen a little bit, but overall number of people on employment benefits are dropping. Benefits could almost disappear completely the day after Christmas unless Congress steps in and extends some programs. There is still a hope that the Congress might be able to pass a stimulus bill as well before the end of the year. With the general election over, the announcement of successful vaccine tests and the economy still showing it is recovering at a moderate pace the 3 major US stock exchanges exploded to have their best month in many decades, surpassing +10% for each. New record highs were established in each one. There were some significant ups and downs on a daily basis, but in the end The Stock Market Bull easily prevailed 3-0 in November, and guarantees that he will take the year in months won over The Stock Market Bear, who is now 2 months down. Stay safe, be alert, and have a blessed holiday season as much as is possible as a the strange and memorable year of 2020 finally comes to an end.

The YTD tally through November 2020 is:
The Stock Market Bull: 6 months
The Stock Market Bear: 4 months
Mixed Results: 1 month

ExxonMobil(PBR3 $XOM) says it expects capital and exploration investments of $16-$19 billion in 2021; $20 billion to $25 billion annually to 2025; certain dry gas assets removed from development plan; after-tax impairment of $17 billion to $20 billion. PR link.

Facebook(PBR47 $FB) to acquire omnichannel CRM platform that brings customer conversations from various channels together into a single-screen view provider Kustomer, terms not disclosed. PR link.

PPG(PBR205 $PPG) to acquire privately held Greensboro, NC-based 1,000 employees $600 million in revenues/2020 Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies, for approximately $1.15 billion, to close within the next few months. PR link.

Jacobs Engineering(PBR244 $J) to acquire a 65% majority stake in PA Consulting for enterprise value of $2.4 billion, remaining 35% to be owned by PA employees, PA has over 3,200 specialists globally in defence and security, consumer and manufacturing, government, health and life sciences, transport, energy and utilities, and financial services; to close by 03/31/21. PR link.

Alcoa(PBR297 $AA) to sell its rolling mill business, held by Alcoa Warwick, to Kaiser Aluminum for around $670 million, has 1,170 employees, produces 310,000 metric tons of flat rolled aluminum annually, to close in 1Q21. PR link.

Blackstone(PBR404 $BX) to acquire San Francisco, CA-based DCI, a pioneer in quantitative credit investing with approximately $7.5 billion in AUM across the global investment grade, high yield and emerging corporate credit markets, terms not disclosed. PR link.

S&P Global(PBR437 $SPGI) to acquire critical information, analytics and solutions for the major industries and markets that drive economies worldwide provider IHS Markit (NYSE: INFO) in an all stock transaction that values IHS Market at $44 billion, includes $4.8 billion in debt, to close in 2H2021. PR link.

ServiceNow(PBR674 $NOW) to acquire Element AI, will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform, to close in early 2021, terms not disclosed. PR link.

Modine Manufacturing(PBR900 $MOD) hires Neil D. Brinker as President/CEO, effective 12/01/20, succeeds Interim CEO Mick Lucareli who will remain CFO. PR link.

The US Dept of the Treasury says the 11/26/20 National Debt-Public is at $21.2 trillion, Intragovernmental $6.1 trillion, Total US Debt $27.3 trillion, 10/29/20 was at $27.1 trillion, 09/30/20 $27.0 trillion, 11/29/19 $23.8 trillion. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary October 2020 US 7th District Midwest Economy Index is at +3.15, September 2020 was at +4.34, August 2020 +1.55, October 2019 -0.52. “Index suggests slower, but still well-above-trend Midwest growth through October.” PR link.

Market News International says the November 2020 MNI Chicago Business Barometer (>50=economy expanding) is at 58.2, October 2020 was at 61.1, September 2020 62.4, November 2019 46.3. “The index now stands at the lowest level since August but remains in expansion.” PR link.

The American Automobile Assn says the 11/30/20 US Average for a Gallon of Gas is at $2.127, on 10/30/20 it was at $2.142, 09/30/20 $2.188, 11/29/19 $2.587. PR link.

***Friday, November 27

The PBRMarketTools US Stock Exchanges Recap for Week 48 of 2020 ending 11/27/20:

DJIA ends Week 48 at 29,010.37, +2.21% from last Friday, +12.86% MTD, +7.66% QTD, +4.81% YTD, -0.45% from record 30,046.24 set 11/24/20.

NASDAQ ends Week 48 at record 12,205.85, +2.96% from last Friday, +11.86% MTD, +9.30% QTD, +36.03% YTD, +0.00% from record 12,205.85 set 11/27/20.

SPX ends Week 48 at record 3,638.35, +2.27% from last Friday, +11.27% MTD, +8.19% QTD, +12.62% YTD, +0.00% from record 3,638.35 set 11/27/20.

The Week 48 of 2020 News Summary: The Coronavirus Pandemic was the top story this week, with concerns that there continues to be an uptick in cases and deaths worldwide. As of today, Friday, 11/27/20, at 11:26AM Eastern US, the John Hopkins University CSSE unit says there are now 61,319,899 confirmed cases globally with 1,438,508 deaths, a weekly increase of 69,762, which is +13,873 from last Friday. For the US it is 12,949,862 confirmed cases and 264,037 deaths, a weekly increase of 10,155, which is -340 from last Friday. These are still high weekly numbers and healthcare facilities and team members are being stretched thin. On Monday AstraZeneca joined the list of candidate vaccines, Moderna and Pfizer are already manufacturing their candidates with the idea that the US FDA will grant them Emergency Use Authorization status. UPS is also ramping up its production of dry ice in preparation to ship and deliver vaccines that require significant cooling. There are more vaccine candidates worldwide in Phase 2 and 3 testing, and there is some optimism that vaccines will be available by year end or very early 2021. The US political news is starting to cool down and also ramp up. The US General Services Administration officially designated Joe Biden as President-Elect, transitioning is now being funded and implemented. President-Elect Biden is starting to announce some appointments, the most interesting one so far being former Federal Reserve Chair Janet Yellen as Secretary of the Treasury. President Trump has still not conceded the election, but lawsuits have not gone his way, some are still pending, and he has now stated that he will accept the Electoral College results. Opinions are now being expressed about how a Joe Biden presidency will affect international relations and trade, especially with China. The US economy continues to show growth, but at a moderate or nearly flat rate now, with concerns about the newest wave of the virus. Weekly Initial Jobless Claims were up again, but new home sales continue to be very strong. The US Federal Open Market Committee released the minutes of its 11/04-05/20 meeting, which also indicated a viewpoint of moderate growth with a concern about how the virus could affect the economy and how the lack of a stimulus program from Congress might further the delay of a full recovery and adversely affect millions of people. There is still a chance Congress could do something before the end of the year. The Stock Market Bull came out charging and confident the first 2 days of the week, The Stock Market Bear made a modest comeback on Wednesday, Thursday was a day off for US Thanksgiving, and Black Friday was an early close day with The Stock Market Bull taking a small edge on all 3 major exchanges. The DJIA established a new record on Tuesday and closed at over 30,000. NASDAQ and The S&P 500 closed the week at new records as well. After two weeks of close mixed results The Stock Market Bull is a clear 3-0 victor in Week 48 and clinches at least a tie for weeks won in 2020. Next Tuesday starts the final month of the year and there seems to be some optimism as vaccines become available to combat the pandemic and the US Presidential race dust hopefully continues to settle down more peacefully than some had expected. Time to cuddle up to your favorite device to do some online Christmas shopping for your loved ones!

The Week 48 of 2020 tally YTD is:
The Stock Market Bull: 23 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 7 weeks

Walt Disney(PBR49 $DIS) in its 10-K filing says “… the employment of approximately 32,000 employees primarily at Parks, Experiences and Products will terminate in the first half of fiscal 2021. Additionally, as of October 3, 2020, approximately 37,000 employees who are not scheduled for employment termination were on furlough as a result of COVID-19’s impact on our businesses.” PR link.

Delta Air(PBR66 $DAL), the Aeroporti di Roma and Hartsfield-Jackson Atlanta International Airport have joined in a first-of-its-kind trans-Atlantic COVID-19 testing program that will enable quarantine-free entry into Italy, to do trial starting 12/19/20. PR link.

Biogen(PBR219 $BIIB) and Sage Therapeutics(Nasdaq: SAGE) doing a global collaboration and license agreement to jointly develop and commercialize zuranolone (SAGE-217) for major depressive disorder (MDD), postpartum depression (PPD) and other psychiatric disorders and SAGE-324 for essential tremor and other neurological disorders; Sage will receive an upfront payment of $875 million and a $650 million equity investment in Sage, plus up to around $1.6 billion in potential milestone payments. PR link.

Ascena Retail(PBR500 $ASNAQ) has entered into an asset purchase agreement to sell its Ann Taylor, LOFT, Lane Bryant and Lou & Grey brands assets to an affiliate of Sycamore Partners for $540 million, committed to also retaining a substantial portion of the retail stores and associates affiliated with these brands. PR link.

Tiffany(PBR590 $TIF) to hold a virtual special stockholder meeting on 12/30/20 to vote on amended and restated $135/share $16.2 billion acquisition by LVMHPR link.

***Thursday, November 26

***US Thanksgiving Day.
***US Stock Exchanges Closed.
***Giving Thanks for our liberties, freedoms,
***food, shelter, and sharing the love
***of family and friends.

***Wednesday, November 25

ExxonMobil(PBR3 $XOM) says up to 300 positions will be impacted by the end of 2021 across Canadian affiliates, result of reorganizations, work-process changes, and impact of the COVID-19 pandemic. PR link.

ViacomCBS(PBR104 $VIAC) to sell the publishing business Simon & Schuster to Penguin Random House for $2.175 billion in cash, to close in 2021. PR link.

Marriott Intl(PBR151 $MAR) signs agreement with Magellan Development Group to introduce its iconic St. Regis Hotels & Resorts brand to Chicago, project is anticipated to include 191 hotel rooms and 393 branded residences within the 101-story building, is expected to welcome its first residents in 12/20 and hotel guests by 07/21. PR link.

JCPenney(PBR291 $JCPNQ) gets US Bankruptcy Court confirmation for Plan of Reorganization to create separate property holding companies comprising 160 of the Company’s real estate assets and all of its owned distribution centers, which will be owned and operated by JCPenney’s DIP and First Lien Lenders, to emerge from Chapter 11 in 1H21. PR link.

Intuit(PBR394 $INTU) gets US Dept of Justice approval for $7.1 billion in cash and stock acquisition of $1 billion in revenues Credit Karma, a consumer technology platform with more than 110 million members in the US, Canada and UK, Credit Karma to divest its Credit Karma Tax business to Square(PBR563) after acquisition is completed, to close after additional regulatory approvals. PR link.

T Rowe Price(PBR488 $TROW) plans to establish T. Rowe Price Investment Management as a separate US-based SEC-registered investment adviser, will have its own investment platform and veteran leadership, with more than 100 associates, including at least 85 investment professionals, plans to be in place in 2Q22. PR link.

Cleveland-Cliffs(PBR896 $CLF) gets US Federal Trade Commission clearance for around $1.4 billion acquisition of ArcelorMittal USA, on track to close in 12/20, will make Cleveland-Cliffs the largest flat-rolled steel producer in N America, with combined shipments of approximately 17 million net tons in 2019, will also be the largest iron ore pellet producer in N America, with 28 million long tons of annual capacity. PR link.

The US Dept of Commerce/BEA says the 3Q20 2nd Estimate US Gross Domestic Product Annual Rate of Change remains at +33.1%, the 3Q20 2nd Estimate Total GDP Annual Rate is at $21.2 trillion, 2Q20 was at $19.5 trillion, 1Q20 $21.6 trillion, 3Q19 $21.5 trillion. PR link.

The US Federal Open Market Committee releases the Minutes of its 11/04-05/20 meeting, in a wide ranging assessment says, among many observations, that “The staff continued to observe that the uncertainty related to the future course of the pandemic and its consequences for the economy was high. The staff also continued to view the risks to the economic outlook as tilted to the downside, with the latest data suggesting an increased probability of a resurgence in the disease.” PR link.

The US Dept of Labor says the 11/21/20 US 4 Week Moving Average Initial Unemployment Insurance Claims is at 748,500, 10/24/20 was at 787,750, 09/19/20 878,250, 11/23/19 219,750; the 11/14/20 4 Week Moving Average Total Insured Unemployment is at 6,615,250, 10/17/20 was at 9,053,250, 09/12/20 13,040,750, 11/16/19 1,680,500; 11/14/20 Insured Unemployment Rate is at 4.1%, 10/17/20 was at 5.3%, 09/12/20 8.6%, 11/16/29 1.1%. PR link.

The US Dept of Commerce/BEA says the Preliminary October 2020 US Total Personal Income Annual Rate is at $19.726 trillion, September 2020 was at $19.856 trillion, August 2020 $19.709 trillion, October 2019 $18.764 trillion. PR link.

The US Dept of Commerce/HUD says the Preliminary October 2020 US New Family Homes Sold Annual Rate is at 999,000 units, September 2020 was at 1,002,000, August 2020 1,001,000, October 2019 706,000; the October 2020 Median Price is at $330,600, September 2020 was at $331,600, August 2020 $321,300, October 2019 $322,400. PR link.

FreddieMac says the 11/25/20 US Weekly Average 30 Year Fixed Mortgage Rate is at 2.72% with 0.7 fees/points, 10/29/20 was at 2.81%, 09/24/20 2.90%, 11/27/19 3.68%. “Mortgage rates remain at record lows and while that has fueled a refinance boom, it’s been driven mainly by higher income borrowers. With about 20 million borrowers eligible to refinance, lower-and middle-income borrowers are leaving money on the table by not taking advantage of low rates.” PR link.

The US Energy Information Administration says the 11/20/20 US Crude Oil Stocks Inventories in Millions of Barrels are at 488.7, 10/23/20 was at 492.4, 09/25/20 492.4, 11/22/19 452.0. PR link.

The U of Michigan says the Final November 2020 US Consumer Sentiment Index is at 76.9, October 2020 was at 81.8, September 2020 80.4, November 2019 96.8. “… the November data were less optimistic than last month due to the resurgence in covid infections and deaths as well as partisan shifts due to the outcome of the presidential election… A delay in federal aid until next year would allow great harm and permanent damage to occur to many firms, local governments, and households.” PR link.

***Tuesday, November 24

JPMorgan Chase(PBR24 $JPM) agrees to pay a $250 million Civil Money Penalty to the US Comptroller of the Currency regarding past deficiencies in internal controls and internal audit for certain fiduciary activities, JPM has remediated the deficiencies. PR link.

Home Depot(PBR27 $HD) agrees to pay $17.5 million settlement with the attorneys general of 46 states and Washington DC over 2014 data breach that exposed the payment card information of approximately 40 million consumers nationwide. MA Atty General Office PR link.

UPS(PBR43 $UPS) Healthcare unit to aid in the massive distribution efforts for COVID-19 vaccines in the coming months, enhancements include producing up to 1,200 lbs. of dry ice per hour in its US facilities to support the storage and transportation of cold chain products, such as frozen vaccines, in accordance with manufacturer storage requirements, also allows UPS to make dry ice available for US and Canadian hospitals, clinics and other points of care requiring dry ice to store vaccines locally. PR link.

Carnival Corp(PBR153 $CCL)’s P&O Cruises has extended the pause in operations into April 2021 in response to the current uncertainty around European ports of call. PR link.

MGM Resorts(PBR241 $MGM)’s BetMGM sports betting and digital gaming business is selected by the NFL Pittsburgh Steelers as its first Gaming Partner, features fan-focused assets such as presenting sponsorship of the Steelers Kickoff pregame show, as well as team broadcast programming, digital marketing assets, and in-stadium promotions and signage. PR link.

Keurig Dr Pepper(PBR278 $KDP) to acquire from The Red River Beverage Group and The Made-Rite Co the manufacturing, sales and distribution rights to key KDP owned and licensed brands in 37 counties in east Texas and northern Louisiana, reaching 1.5 million consumers, moves iconic brands such as Canada Dry, A&W, 7UP, Sunkist, Snapple, CORE, and Bai into KDP’s company- owned direct-store-delivery (DSD) operations, beginning 02/21. PR link.

McCormick(PBR513 $MKC) to acquire the parent company of Cholula Hot Sauce®, a premium hot sauce brand that delivers authentic Mexican flavor with annual sales of around $96 million, from L Catterton, for $800 million in cash, to close by 12/31/20. PR link.

Camping World(PBR541 $CWH) to acquire Paul Sherry RV located in Piqua, OH, will re-brand as Camping World, terms not disclosed. PR link.

Dick’s Sporting Goods(PBR350 $DKS) Chairman/CEO Edward Stack to transition to Executive Chairman and remain Chief Merchant on 02/01/21, President Lauren Hobart to become President/CEO. PR link.

The Conference Board says the Preliminary November 2020 US Consumer Confidence Index(1985=100) is at 96.1, October 2020 was at 101.4, September 2020 101.3, November 2019 126.8. “Heading into 2021, consumers do not foresee the economy, nor the labor market, gaining strength. In addition, the resurgence of COVID-19 is further increasing uncertainty and exacerbating concerns about the outlook.” PR link.

The S&P CoreLogic Case-Shiller September 2020 US National Home Price Index(Jan2000=100) is at 226.80, August 2020 was at 224.20, July 2020 221.52, September 2019 212.05. “This month’s increase may reflect a catch-up of COVID-depressed demand from earlier this year; it might also presage future strength, as COVID encourages potential buyers to move from urban apartments to suburban homes. The next several months’ reports should help to shed light on this question.” PR link.

The US Federal Reserve Bank of Philadelphia says the November 2020 Non-Manufacturing Current General Activity Index is at -15.9, October 2020 was at +16.0, September 2020 +8.0, November 2019 +20.5. “The future activity indexes suggest that respondents expect improvement at their firms and in the region over the next six months.” PR link.

The US Federal Reserve Bank of Richmond says the November 2020 US 5th District Manufacturing Index is at +15%, October 2020 was at +29%, September 2020 +21%, November 2019 -1%. “Manufacturers reported improvement in local business conditions, but the spending indexes softened somewhat. Survey participants were optimistic about the future, expecting growth to continue in the coming months.” PR link.

The Federal Reserve Bank of Richmond says the November 2020 US 5th District Service Sector Revenue Index is at +13%, October 2020 was at +19%, September 2020 +6%, November 2019 +15%. “Firms reported improving local business conditions and increased capital spending. Survey participants were generally optimistic that demand would continue to grow, but many also expressed concern that revenues may soften in the next six months.” PR link.

TrueCar and ALG forecast November 2020 US New Auto Units Sales-Retail to be at 1,099,808, Fleet 143,823, for Total New Auto Sales Units at 1,243,631, October 2020 was at 1,361,858, September 2020 1,221,091, November 2019 1,413,464; November 2020 Average Transaction Price is at $38,024, October 2020 was at $37,186, September 2020 36,541, November 2019 $36,317. “We expect many consumers who have not been financially affected by the pandemic to make their vehicle purchases this month, especially with fewer people traveling this holiday season and with inventory rebounding.” PR link.

***Monday, November 23

General Motors(PBR19 $GM) is told by the US Natl Highway Traffic Safety Administration to recall and repair nearly 6 million big pickup trucks and SUVs equipped with potentially dangerous Takata air bag inflators, will cost the automaker an estimated $1.2 billion, about one third of its net income this year. MarketWatch PR link.

GE(PBR33 $GE) has acquired Swedish startup Prismatic Sensors AB, specializes in photon counting detectors, has the potential to significantly increase clinical performance for oncology, cardiology, neurology, and many other clinical CT applications, GE had been a minority investor, terms not disclosed. PR link.

Merck(PBR67 $MRK) to acquire privately held clinical-stage biopharmaceutical company OncoImmune for upfront payment of $425 million cash plus sales-based payments and payments contingent on the successful achievement of certain regulatory milestones, recently announced positive top-line findings from an interim efficacy analysis of a Phase 3 study evaluating its lead therapeutic candidate CD24Fc for the treatment of patients with severe and critical COVID-19, to close by 12/31/20. PR link.

Bristol-Myers Squibb(PBR109 $BMY) to pay Schrodinger(NASDAQ: SDGR) $55 million upfront and up to $2.7 billion in preclinical, development, regulatory and sales-based milestone payments, for its physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. PR link.

BlackRock(PBR215 $BLK) to acquire Aperio, a pioneer in customizing tax-optimized index equity separately managed accounts (SMAs) to reflect each client’s unique risk, tax, and personal values preferences, with $36+ billion assets under management, from Golden Gate Capital and Aperio employees, for $1.05 billion in cash, to close in 1Q21. PR link.

Regeneron(PBR384 $REGN) gets US FDA Emergency Use Authorization for Casirivimab and imdevimab administered together for the treatment of mild to moderate COVID-19 in adults, as well as in pediatric patients at least 12 years of age and weighing at least 40 kg, who have received positive results of direct SARS-CoV-2 viral testing and are at high risk for progressing to severe COVID-19 and/or hospitalization. PR link.

Kemper(PBR535 $KMPR) to acquire Downers Grove, IL based network of 500 independent agents and 110+ captive agents specialty private passenger auto insurance in 5 states provider American Access Casualty Company for $370 million cash, to close in 1Q21. PR link.

Avnet(PBR176 $AVT) Interim CEO Phil Gallagher appointed CEO and member of the Board, effective immediately. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary October 2020 US National Activity Index is at +0.83, September 2020 was at +0.32, August 2020 +1.10, October 2019 -0.41. “Index suggests economic growth increased in October.” PR link.

***Friday, November 20

The PBRMarketTools US Stock Exchanges Recap for Week 47 of 2020 ending 11/20/20:

DJIA ends Week 47 at 29,263.48, -0.73% from last Friday, +10.42% MTD, +5.33% QTD, +2.54% YTD, -2.29% from record 29,950.44 set 11/16/20.

NASDAQ ends Week 47 at 11,854.97, +0.22% from last Friday, +8.65% MTD, +6.16% QTD, +32.12% YTD, -1.67% from record 12,056.44 set 09/02/20.

SPX ends Week 47 at 3,557.54, -0.77% from last Friday, +8.79% MTD, +5.78% QTD, +10.11% YTD, -1.91% from record 3,585.15 set 11/13/20.

The Week 47 of 2020 News Summary: After a week off the Coronavirus Pandemic returned to be the primary headline for the week, especially in the US where there was a significant uptick in cases and deaths. As of today, Friday, 11/20/20, at 2:25PM Eastern US, the John Hopkins University CSSE unit says there are now 57,365,049 confirmed cases globally with 1,368,746 deaths, an increase of 55,889, which is -17,072 from last Friday. For the US it is 11,854,203 confirmed cases and 253,882 deaths, an increase of 10,495, which is +2,649 from last Friday. While the rate of increase is alarming to some, the good news is that Moderna announced its COVID-19 candidate was 95% effective in a Phase 3 trial, and does not need to be in significantly colder storage like the Pfizer/BioNTech vaccine. Pfizer/BioNTech released the final results from their Phase 3 also showing 95% effectiveness, and filed an Emergency Use Authorization with the US FDA, which will take a few weeks to get through its process. With the uptick in cases more cities and states are implementing more restrictions such as more use of masks, curfews and group sizes, and in some cases lockdowns. There are concerns as an estimated 50 million people in the US plan to travel for Thanksgiving gatherings, temperatures are starting to cool, and the US is now in its annual flu season. President-elect Biden is also stirring up some news as his transition teams are not getting much support or information about COVID-19 efforts and plans from the Trump administration which still refuses to acknowledge the Biden victory and are contesting results in some of the key voting states. The uptick is causing concerns by hospitals as they try to prepare and cope with a possible flood of new cases that could max out available rooms and resources. Assuming vaccines get proper regulatory approval it still appears that the earliest they will be available in significant numbers is late December into January. As indicated, the US political news is still a little foggy with legal filings piling up by the Trump legal team, usually ending up with the motions being rejected for lack of convincing evidence. In general the public seems to have accepted a Biden/Harris victory, but there are still a large contingent insisting there is a significant voter fraud conspiracy. President Trump has still not conceded the race, much to the chagrin of many. US economic news was mostly positive for the week, but with the virus uptick there is also some uneasiness. But mortgage rates hit a new low, existing home sales increased more than expected, but weekly initial unemployment claims took a jump up. Unemployment benefits will take a big hit the day after Christmas unless some new legislation is passed by the Congress. Secretary of the Treasury Mnuchin announced the closing of some significant stimulus funding that has not been used much, with a backlash from federal Reserve leaders saying they are still needed as a tool in case things get worse. There are signs that a stimulus package could still be on the table when Congress reconvenes after the Thanksgiving break, and funding for government programs also needs to be addressed very quickly. President Trump late Friday also introduced some new rules that should reduce the prices of prescription drugs. The Stock Market Bull had a good Monday in the pasture, with the DJIA closing at a new record high. But The Stock Market Bear knocked the Bull down on Tuesday and Wednesday wiping out the gains. The Stock Market Bull rebounded on Thursday to retake the lead, the Bear struck back on Friday, but was not quite strong enough to get all 3 exchanges. Week 47 ends with The Stock Market Bear taking a 2-1 mixed result, a reversal of last week’s mixed result in favor of the Bull. Next week is US Thanksgiving Week, it will be shortened trading week, Congress is in recess, so it’s hard to predict what will happen. Be careful, stay safe and be thankful for the many blessings we have, even in these difficult times.

The Week 47 of 2020 tally YTD is:
The Stock Market Bull: 22 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 7 weeks

Pfizer(PBR62 $PFE) and BioNTech SE(Nasdaq: BNTX) submitting Emergency Use Authorization for US FDA approval of their mRNA vaccine candidate, BNT162b2 against SARS-CoV-2, which will potentially enable use of the vaccine in high-risk populations in the US by the middle to end of 12/20, submitting requests in other countries as well. PR link.

VISA(PBR132 $V) completes acquisition of strategic partner since 2018 YellowPepper, a fintech pioneer with proprietary technology and partnerships supporting leading financial institutions and startups in Latin America and the Caribbean. PR link.

Eli Lilly(PBR140 $LLY) to make an up front payment of $100 million plus a $35 million equity investment in Precision BioSciences(Nasdaq: DTIL) which is also eligible to receive up to $420 million in potential development and commercialization milestones in a research collaboration and exclusive license agreement to utilize Precision’s proprietary ARCUS® genome editing platform for the research and development of potential in vivo therapies for genetic disorders, with an initial focus on Duchenne muscular dystrophy (DMD) and two other undisclosed gene targets. PR link.

Carnival Corp(PBR153 $CCL)’s Princess Cruises pauses all cruises sailing through 03/31/21, all cruises longer than 7 days sailing in and out of US ports through 11/01/21, for all cruises departing in and out of Japan through 06/25/21, announces similar plans for its Holland America and Seabourn brands in other press releases. PR link.

First Horizon National(PBR856 $FHN) to simplify its corporate name to First Horizon Corporation, effective on Monday 11/30/20, will continue trading as NYSE: FHN. PR link.

***Thursday, November 19

Verizon(PBR20 $VZ) Media and BuzzFeed form a new strategic partnership across content and advertising, the acquisition of HuffPost by BuzzFeed, and an investment that will make Verizon Media a minority shareholder in BuzzFeed, terms not disclosed. PR link.

IBM(PBR38 $IBM) CEO Arvind Krishna discusses IBM’s emphasis on cloud and AI technologies in an interview with David Solomon of Goldman Sachs(PBR87) on a recent episode of Talks at GS. PR link.

Eli Lilly(PBR140 $LLY) gets US FDA Emergency Use Authorization for the distribution and emergency use of baricitinib to be used in combination with remdesivir in hospitalized adult and pediatric patients two years of age or older with suspected or laboratory confirmed COVID-19 who require supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). PR link.

Fiserv(PBR303 $FISV) authorizes repurchase of 60 million of its common stock, is in addition to existing authorization. PR link.

NASDAQ(PBR607 $NDAQ) to acquire St. John’s, Newfoundland and Labrador based cloud based anti-financial crime management solutions provider with 2,000+ N American financial institutions customers Verafin, which expects to have $140 million in revenues in 2021, for $2.75 billion cash, to close in 1Q21. PR link.

The Conference Board says the Preliminary October 2020 US Leading Economic Index(2016=100) is at 108.2, September 2020 was at 107.5, August 2020 106.8, October 2019 111.5. “… the leading index has been decelerating in recent months, which suggests growth will moderate significantly in the final months of 2020, slowing down from the unusually rapid pace in Q3… Furthermore, downside risks to growth from a second wave of COVID-19 and high unemployment persist. While The Conference Board projects the US economy will expand in Q4, the pace of growth is unlikely to exceed 2.2 percent (annual rate).” PR link.

The Natl Assn of Realtors says the Preliminary October 2020 US Existing Home Sales Annual Rate is at 6,850,000, September 2020 was at 6,570,000, August 2020 5,980,000, October 2019 5,410,000; October 2020 Median Price is at $313,000, September 2020 $311,800, August 2020 $310,600, October 2019 $270,900. “The surge in sales in recent months has now offset the spring market losses… With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3% in 2021, I expect the market’s growth to continue into 2021.” PR link.

The US Federal Reserve Bank of Philadelphia says the November 2020 US 3rd District Manufacturing General Activity Indicator is at +26.3, October 2020 was at +32.3, September 2020 +15.0, November 2019 +8.4. “The survey’s future indexes also moderated this month but suggest that growth is expected to continue over the next six months.” PR link.

***Wednesday, November 18

Alphabet(PBR11 $GOOG)’s Google unit to expand use of its mobile app Google Pay service, more features, working with trusted financial institutions to create Plex, a new mobile-first bank account integrated into Google Pay. PR link.

Boeing(PBR40 $BA) gets US Federal Aviation Administration approval for return to service of the Boeing 737 MAX; FAA must still approve 737 MAX pilot training program revisions for each US airline operating the MAX, provide certifications for MAX aircraft built since grounding, parked MAX aircraft must take required maintenance steps to prepare for flying. US FAA PR link.

Boeing(PBR40 $BA) responds to US Federal Aviation Administration’s approval for Boeing to resume 737 MAX operations, steps it will take to get the 737 MAX into service. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE (Nasdaq: BNTX) say the final efficacy analysis in their ongoing Phase 3 study of their mRNA-based COVID-19 vaccine candidate, BNT162b2, met all of the study’s primary efficacy endpoints, data indicates a vaccine efficacy rate of 95% (p<0.0001) in participants without prior SARS-CoV-2 infection, plan to submit a request within days to the US FDA for an Emergency Use AuthorizationPR link.

Best Buy(PBR72 $BBY) partners with Instacart for same day delivery of consumer electronics nationwide, Instacart is also introducing its new Certified Delivery feature. PR link.

Carnival Corp(PBR153 $CCL) notifies guests and travel agents that it has cancelled additional cruises from all US homeports through 01/31/21, some through 02/28/21, and a few through 03/26/21. PR link.

Ryder(PBR343 $R) to provide $30 million in bonuses to nearly 30,000 of its frontline employees in N America in appreciation for their extraordinary efforts during the pandemic. PR link.

JetBlue(PBR377 $JBLU)‘s Terminal 5 at JFK Airport in New York to have NYC Test & Trace Corps and Port Authority to provide free COVID-19 Test Kits, can do 600 tests/day to New Yorkers booked on return flights, up to 48 hour results turnaround, 6 month pilot program. PR link.

Norwegian Cruise Lines(PBR451 $NCLH) has priced its underwritten public offering of 40,000,000 ordinary shares for $20.80/share, net proceeds raised to be used for general corporate purposes. PR link.

KB Home(PBR576 $KBH) marks milestone of over 11,000 solar-powered homes delivered in exclusive partnership with SunPower(PBR920 $SPWR)PR link.

PG&E(PBR184 $PCG) appoints Patti Poppe as CEO, effective 01/04/21, succeeds Interim CEO Bill Smith, Poppe is currently President/CEO of CMS Energy(PBR427). PR link.

Oshkosh(PBR362 $OSK) CEO Wilson Jones to retire as CEO and Board member effective 04/02/21, President/COO John C Pfeifer to be successor as President/CEO. PR link.

CMS Energy(PBR427 $CMS) President/CEO Patti Poppe is stepping down effective 12/01/20, to become CEO of PG&E(PBR184 $PGC), EVP/Operations Garrick Rochow is named successor. PR link.

Hanover Insurance(PBR542 $THG) elects current Board vice chair Cynthia L. Egan as Chair, effective December 12/01/20, succeeds P Kevin Condron who is reaching mandatory retirement age. PR link.

Triumph Group(PBR765 $TGI) President/CEO Daniel Crowley gets new 5 year employment agreement through 11/17/25, elects Crowley to also be Chairman, effective immediately, General Ralph “Ed” Eberhart to remain on Board as Lead Independent Director. PR link.

The US Dept of Commerce/HUD says the Preliminary October 2020 US New Residential Construction Building Permits Issued Annual Rate-Private Housing is at 1,545,000, September 2020 was at 1,545,000, August 2020 1,476,000, October 2019 1,503,000. PR link.

***Tuesday, November 17

PBRMarketTools profiles ActivisionBlizzard, Inc(NASDAQ: $ATVI), creator of epic interactive gaming and entertainment experiences, ranked 449 by revenues on The PBR1000. More on the ATVI Summary page.

Amazon(PBR2 $AMZN) introduces Amazon Pharmacy, a new Amazon store that allows customers to complete an entire pharmacy transaction on their desktop or mobile device through the Amazon App, customers can add their insurance information, manage prescriptions, and choose payment options, unlimited 2-day free delivery for Amazon Prime members; also can pay without insurance, as well as at over 50,000 other participating pharmacies nationwide, savings up to 80% on generics, 40% on brand name medications. PR link.

American Airlines(PBR68 $AAL), British Airways, and oneworld launch an optional coronavirus (COVID-19) medical-based testing trial on select flights from cities in the US to London Heathrow (LHR), in a combined effort to scientifically demonstrate how COVID-19 testing can reopen international travel and remove the need for passengers to quarantine on arrival, 3 free tests involved. PR link.

Bristol-Myers Squibb(PBR109 $BMY) completes around $13.1 billion in cash acquisition of MyoKardia, which is now a wholly owned subsidiary, is a clinical-stage biopharmaceutical company discovering and developing targeted therapies for the treatment of serious cardiovascular diseases. PR link.

Lithia Motors(PBR245 $LAD) has acquired Sterling Luxury Group (Sterling Motorcars) in Loudoun County Virginia, includes BMW and Mini of Sterling, as well as RollsRoyce Motor Cars, Lamborghini and McLaren brands, to add $225 million in annualized revenue, first location for Lithia in VA, terms not disclosed. PR link.

Keurig Dr Pepper(PBR278 $KDP) shareholders JAB subsidiary Maple Holdings and Mondelez(PBR111 $MDLZ) to sell 60 million shares, MDLZ will then have an 8.4% stake in KDP, JAB and affiliates to own 34% of common stock, KDP public float will be around 58%, was 13% at completion of Keurig and Dr Pepper Snapple merger in 2018. PR link.

Boston Scientific(PBR289 $BSX) has initiated a global, voluntary recall of all unused inventory of the LOTUS Edge™ Aortic Valve System due to complexities associated with the product delivery system, no safety issue for patients who currently have an implanted LOTUS Edge valve, company is retiring the entire LOTUS product platform immediately because of delivery intricacies, will focus on its ACURATE neo2™ Aortic Valve SystemPR link.

Polaris Industries(PBR431 $PII) Chairman/CEO Scott Wine to leave effective 12/31/20 to take another CEO position, transition plans to be announced at a later date. PR link.

The US Dept of Labor says the Preliminary October 2020 US Monthly Change in Import Prices is at -0.1%, September 2020 was at +0.2%, August 2020 +0.8%, October 2019 -0.4%; October 2020 Export Prices is at +0.2%, September 2020 +0.6%, August 2020 +0.5%, October 2019 +0.0%; October 2020 Year-to-Year Change-Imports is at -1.0%, Exports -1.6%PR link.

The US Federal Reserve Board says the Preliminary October 2020 US Manufacturing % of Capacity is at 72.8%, September 2020 was at 72.0%, August 2020 72.2%, October 2019 77.0%, Capacity Growth Over the Previous Year is at +0.2%PR link.

The US Dept of Commerce/Census says the Preliminary September 2020 US Sales-Manufacturers is at $482.8 billion, Retailers $496.2 billion, Wholesalers $486.0 billion, Total September 2020 Sales is at $1,465.1 billion, August 2020 was at $1,456.0 billion, July 2020 $1,443.5 billion, September 2019 $1,452.8 billion. PR link.

The US Dept of Commerce/Census says the Advance October 2020 US Sales-Retailers is at $497.7 billion, Food Services & Drinking Places $55.6 billion, for October 2020 Total Retail Sales at $553.3 billion, September 2020 was at $551.9 billion, August 2020 $543.4 billion, October 2019 $523.6 billion. PR link.

The Natl Assn of Home Builders/Wells Fargo say the Preliminary November 2020 US Housing Market Composite Index is at a record 90, October 2020 was at 85, September 2020 83, November 2019 71. “Historically low mortgage rates, favorable demographics and an ongoing suburban shift for home buyer preferences have spurred demand and increased new home sales by nearly 17 percent in 2020 on a year-to-date basis. Though builders continue to sign sales contracts at a solid pace, lot and material availability is holding back some building activity. Looking ahead to next year, regulatory policy risk will be a key concern given these supply-side constraints.” PR link.

***Monday, November 16

Amazon(PBR2 $AMZN) says Black Friday holiday deals will start on 11/20/20 and go through 11/27/20. PR link.

Home Depot(PBR27 $HD) to acquire HD Supply Holdings(PBR464 $HDS), a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets, for $56/share, total enterprise value of around $8 billion, tender offer to close by 01/31/21. PR link.

Johnson & Johnson(PBR35 $JNJ) Covid vaccine candidate gets another $1+ billion funding boost from the US government, about $604 million to be used by JNJ, $454 million by BARDA, for the Phase 3 Ensemble trial to evaluate the efficacy of JNJ’s vaccine candidate as a single-dose. Bloomberg PR link.

Pfizer(PBR62 $PFE) completes its Upjohn division merger with Mylan(PBR271 $MYL), combined company now Viatris, PFE shareholders own 57%, MYL shareholders 43%, to start trading as NASDAQ: VTRS on 11/17/20. PR link.

Performance Food(PBR116 $PFGC)’s Foodservice division launches its Green Origin™ brand, a proprietary line of plant-based protein products, portfolio includes plant-based burgers, grinds, breakfast sausages, and nuggets, will have one of the largest plant-based Exclusive Brand portfolios in the industry. PR link.

Tesla(PBR119 $TSLA) to join the S&P500 effective 12/21/20. SPGlobal PR link.

PNC Financial(PBR174 $PNC) to acquire $104 billion in assets Houston, TX based 637 branches commercial and retail banking services provider BBVA USA Bancshares for $11.6 billion cash, to close in mid 2021. PR link.

Simon Property(PBR481 $SPG) in modified agreement to acquire 80% ownership interest in Taubman Centers(NYSE: TCO) for $43.00/share cash, around $2.95 billion, Taubman family to own remaining 20%, includes 26 super-regional shopping centers in the US and Asia, to close in late 2020/early 2021. PR link.

Simon Property(PBR481 $SPG) apparently foreclosing on 4 malls with mortgage debt totaling $410.9 million, another $963.4 million in mortgage debt considered to be at risk. MarketWatch PR link.

Camping World(PBR541 $CWH) to acquire the Outlet Recreation dealership based in West Fargo, ND, its first location in N Dakota, to close in 12/20, terms not disclosed. PR link.

KKR(PBR(PBR610 $KKR) to acquire 65% stake in Seiyu, a nationwide supermarket chain in Japan with more than 300 retail units, Japan based technology company Rakuten to acquire 20%, and Walmart(PBR1 $WMT) to retain 15% ownership, values Seiyu at around $1.6 billion. PR link.

Cinemark(PBR698 $CNK) gets multi-year agreement with Comcast(PBR28 $CMCSA)’s Universal Filmed Entertainment Group division, includes at least three full weekends (17 days) of theatrical exclusivity for all Universal Pictures and Focus Features theatrical releases, then studio has the option to make its titles available across premium video on demand (PVOD) platforms, becomes 5 full weekends(31 days) if bookings exceed $50 million for a title. PR link.

WW(PBR973 $WW) introduces myWW+ which offers a more holistic approach to weight loss and wellness that focuses on food, activity, mindset and sleep. PR link.

Suburban Propane(PBR983 $SPH) elects Matthew J. Chanin as its new Chairman effective 01/01/21, succeeds Harold R. Logan, Jr, who remains on the Board. PR link.

The Federal Reserve Bank of New York says the November 2020 Empire State Manufacturing General Business Conditions Index is at +6.3, October 2020 was at +10.5, September 2020 +17.0, November 2019 +2.5. “Looking ahead, firms remained optimistic that conditions would improve over the next six months.” PR link.

***Friday, November 13

The PBRMarketTools US Stock Exchanges Recap for Week 46 of 2020 ending 11/13/20:

DJIA ends Week 46 at 29,479.81, +4.08% from last Friday, +11.24% MTD, +6.11% QTD, +3.30% YTD, -0.24% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 46 at 11,829.29, -0.55% from last Friday, +8.41% MTD, +5.93% QTD, +31.84% YTD, -1.88% from record 12,056.44 set 09/02/20.

SPX ends Week 46 at record 3,585.15, +2.16% from last Friday, +9.64% MTD, +6.61% QTD, +10.97% YTD, +0.00% from record 3,585.15 set 11/13/20.

The Week 46 of 2020 News Summary: Most of the news early in the week was about the results of the US Presidential election, who won, and forecasts of what will happen next. One of the major forces in the elections was the Coronavirus Pandemic, which saw a significant uptick during the week, hitting new records every day for new positive tests. Here’s an update on cases: As of today, Friday, 11/13/20, at 1:25PM Eastern US, the John Hopkins University CSSE unit says there are now 53,166,374 confirmed cases globally with 1,312,857 deaths, an increase of 72,961, which is +19,490 from last Friday. For the US it is 10,675,820 confirmed cases and 243,387 deaths, an increase of 7,846, which is +1,661 from last Friday. This signals a significant uptick as hotspots grow around the world. National lockdowns are taking place and in the US some local restrictions, such as curfews, are being implemented. Pfizer and BioNTech announced their candidate investigational vaccine for COVID-19 has proven 90% effective in current tests, it plans to request US FDA Emergency Use Authorization by the end of the month. The US government’s “Operation Warp Speed” has reached agreements with most major US pharmaceutical retail chains to provide vaccination services when the vaccine/s becomes available. It appears the initial vaccines could be available at the beginning of 2021, the priority would be healthcare workers and significantly vulnerable people, then the general population, probably around the April timeframe right now. Results from other vaccine candidates should be available soon. With the news that former VP Joe Biden is now generally conceded to be the US President-Elect there are now some conjectures about what his policy regarding the pandemic will be, and opinions vary at this time. Professional and some college sports are now in session, playing in empty stadiums and arenas with primarily a virtual audience watching. There are concerns about possible spreading of the virus as temperatures cool, and the Thanksgiving and Christmas holidays take place with concerns about family, friends, and colleagues congregating for traditional get-togethers and becoming possible super-spreader events. There were a couple of news items of note regarding international trade. China’s TikTok was given an extension from being forcibly closed down in the US as it continues to negotiate with potential US buyers for the US operations. President Trump also signed an executive order disallowing US investments in Chinese companies providing products and services to China military operations. In other parts of the world there continue to be concerns about UK’s Brexit from the European Union. As mentioned before, the aftermath of the US elections provided a lot of news. It is generally conceded, though still not officially, that former VP Joe Biden is US President-Elect. He has achieved just over 50% of the popular vote, and won enough key states by narrow margins to clinch the electoral votes needed to be elected by the Electoral College. President Trump has not conceded yet and his team has filed lawsuits in several of those states insisting that there has been significant voter fraud. Most of the initial cases have been thrown out for insufficient evidence. The US House will continue to be lead by the Democrats, but with a smaller margin. The US Senate will most likely be Republican led but depends on 2 Senate seat runoffs from the State of Georgia in December. President-Elect Biden has activated his transition team. It is taking the initial steps to prepare to take over the reins of the Executive Branch at noon on January 20, 2021. Vice-President Elect Kamala Harris is also active, will be the first woman VP and person of color, providing inspiration in a variety of ways to women and young girls. In climate news tropical storm Eta hit Florida twice, leaving a lot of outages and flooding. The US economy continues to advance, though apparently a bit more slowly. Weekly and Total Insured Unemployment continues to drop. The Consumer Price Index was unchanged, the Producer Price Index was up a little bit, there was a significant uptick in the national deficit in the first fiscal month of 2021 as outlays significantly outpaced receipts, wages were up slightly, job openings had a small increase, it appears there will soon be an increase in mortgage delinquencies, and mortgage rates increased a bit. There was hope for a new stimulus program after the election but the Senate and House still have not been able to come to an agreement and the timetable is now uncertain, despite many economists advising that it is needed now before more severe damage can be done. On the other hand, some economists have said this a remarkably fast economic recovery, especially compared to 2008. The Stock Market Bear seemed to be focused on the NASDAQ this week as a selloff in tech stocks prevailed. He also dominated all 3 exchanges on Thursday. But The Stock Market Bull made a strong charge on Friday, the DJIA hit a new intraday high, and the S&P 500 closed at a new record high. The Stock Market Bull gets a 2-1 mixed result in Week 46. With the uptick in COVID-19 cases, President Trump not yet conceding defeat but President-Elect Biden’s transition team starting, a near dead economic stimulus plan stuck in Congress, and the holiday season looming, it should be an interesting Week 47 coming up. Place your bets, or maybe not, accordingly.

The Week 46 of 2020 tally YTD is:
The Stock Market Bull: 22 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 6 weeks

Merck(PBR67) gets its first US FDA approval for KEYTRUDA in a breast cancer setting. PR link.

Agilent Technologies(PBR529 $A) gets US FDA approval for the use of PD-L1 IHC 22C3 pharmDx as an aid in identifying patients with triple-negative breast cancer (TNBC) for treatment with Merck(PBR67)‘s KEYTRUDA® (pembrolizumab). PR link.

Southwestern Energy(PBR739 $SWN) completes acquisition of Montage Resources Corp(NYSE: MR) in an all stock transaction, MR shareholders receive 1.8656 shares of SWN for each MR Share. PR link.

Tailored Brands(PBR771 $TLRD) gets US Bankruptcy Court confirmation of company’s Plan of Reorganization, expects to emerge from Chapter 11 by end of November. PR link.

Meredith Corp(PBR776 $MDP)’s Martha Steward Living celebrates its 30th anniversary with its December Christmas issue, on newstands 11/20/20. PR link.

The US Dept of Labor says the Preliminary October 2020 US Producer Price Index-Total Monthly Final Demand is at +0.3%, September 2020 was at +0.4%, August 2020 +0.3%, October 2019 +0.3%; Last 12 Months(Unadjusted) is at +0.5%PR link.

The U of Michigan Preliminary November 2020 Consumer Sentiment Index is at 77.0, October 2020 was at 81.8, September 2020 80.4, November 2019 96.8. “The outcome of the presidential election as well as the resurgence in covid infections and deaths were responsible for the early November decline.” PR link.

***Thursday, November 12

Walmart(PBR1) expands its pet offerings, including Walmart Pet Insurance in collaboration with PetPlan and convenient pet care services like dog-walking and pet sitting through partnership with Rover. PR link.

Ford(PBR12) reveals the 2022 E-Transit all electric cargo van, arrives in late 2021, starts at under $45,000. PR link.

Altria(PBR115) to convert its non-voting shares in JUUL Labs to voting shares, does not currently intend to exercise its additional governance rights obtained upon conversion, including the right to elect directors to JUUL’s board, or to vote its JUUL shares other than as a passive investor, pending the outcome of the US Federal Trade Commission litigation. PR link.

Bed Bath & Beyond(PBR276) completes its around $250 million sale of its non-core assets Christmas Tree Shops retail banner, its institutional Linen Holdings business, and a distribution center located in Florence, NJ. PR link.

Chipotle(PBR492) Chairman/CEO Brian Niccol is interviewed on Talks at GSPR link.

Camping World(PBR541) to acquire the four existing dealership locations of Noble RV, in Owatonna, Madelia, Oronoco (Rochester area) and Jordan (Minneapolis area), Minnesota, to close in 12/20. PR link.

Chewy(PBR547) is expanding its Pharmacy (Rx) business to now offer compounded medications that are customized to the specific needs of pets. PR link.

The US Dept of Health and Human Services announces US government’s partnerships with large chain pharmacies and networks that represent independent pharmacies and regional chains to administer COVID-19 vaccines with no out-of-pocket costs when they become available, part of “Operation Warp Speed” effort. PR link.

The US Dept of the Treasury says the October 2020 US Federal Government Receipts are at $237.7 billion, Outlays are at $521.8 billion, October 2020 Total Deficit is at $284.1 billion, October 2019 Deficit was at $134.5 billion. October is the first month of the federal government fiscal year. PR link.

The US Dept of Labor says the October 2020 Consumer Price Index-Urban-All Items is at +0.0%, September 2020 was at +0.2%, August 2020 +0.4%, October 2019 +0.2%, October 2020 Last 12 Months(Unadjusted) is at +1.2%, September 2020 was at +1.4%, August 2020 +1.3%, October 2019 +1.8%. PR link.

The US Dept of Labor says the Preliminary October 2020 US Current Average Earnings Per Hour is at $29.50, Average Hours Worked Per Week are at 34.8, for Total Average Weekly Earnings of $1,026.60, September 2020 was at $1,025.21, August 2020 $1,021.92, October 2019 $971.46. PR link.

***Wednesday, November 11

***US Veterans Day: Remembering and
***Thanking Those Who Served
***To Help Preserve Our Freedoms.

Cardinal Health(PBR14 $CAH) gets agreement with the US Center for Disease Control & Prevention(CDC) to act as a network administrator in Phase 2 of the Federal Pharmacy Partnership Strategy for COVID-19, which will enable retail independent, small chains and long-term care pharmacy customers to participate in the vaccination effort. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE(NASDAQ: BNTX) get agreement with the European Commission to supply 200 million doses of their investigational BNT162b2 mRNA-based vaccine candidate against SARS-CoV-2 to European Union (EU) Member States, with an option for the European Commission to request an additional 100 million doses, deliveries anticipated to start by the end of 2020, subject to clinical success and regulatory authorization. PR link.

ConocoPhillips(PBR86 $COP) announces a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea, ConocoPhillips Skandinavia AS is operator of the license with 65% working interest. PR link.

Cummins(PBR128 $CMI) and Navistar(PBR274 $NAV) will work together on the development of a class 8 truck powered by hydrogen fuel cells, project will be funded in part through an award from the US Dept of Energy’s Office of Energy Efficiency and Renewable Energy. PR link.

Stryker Corp(PBR210 $SYK) completes its $30.75/share cash tender offer, with an equity value of around $4.0 billion, for all outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI), a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics market segments. PR link.

Chipotle(PBR492 $CMG) to open its first digital-only restaurant, the Chipotle Digital Kitchen, located just outside of the gates to the military academy in Highland Falls, NY, will open this Saturday for pick-up and delivery only. PR link.

Ascena Retail(PBR501 $ASNAQ) Justice brand brand assets and certain liabilities are acquired for approximately $90 million by brand management company Bluestar Alliance through an auction under the supervision the US Bankruptcy CourtPR link.

Palo Alto Networks(PBR679 $PANW) to acquire Expanse, a leader in attack surface management, for approximately $670 million to be paid in cash and stock and approximately $130 million in replacement equity awards, to close by 01/31/21. PR link.

TRI Pointe(PBR730 $TPH) authorizes new up to $250 million share repurchase program, expires 12/31/21. PR link.

Apollo Global Mgmt(PBR758 $APO) to acquire all the outstanding shares of Toronto based operator of 25 gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia Great Canadian Gaming Corp for around $52/share in a transaction with a total enterprise valuation of around $4.4 billion, to close in 2Q21. PR link.

Meredith Corp(PBR776 $MDP) Chairman Stephen Lacy retiring from the Board after 16 years, President/CEO Thomas Harty is elected to add Chairman role, Board member Elizabeth Tallett elected Lead Independent Director. PR link.

***Tuesday, November 10

Amazon(PBR2 $AMZN) gets notice from the European Commission regarding its preliminary view that Amazon has breached EU antitrust rules by distorting competition in online retail markets, also opened a second formal antitrust investigation into the possible preferential treatment of Amazon’s own retail offers and those of marketplace sellers that use Amazon’s logistics and delivery services. European Commission PR link.

Apple(PBR4 $AAPL) introduces a new MacBook Air, 13-inch MacBook Pro, and Mac mini powered by M1, Apple’s breakthrough chip for the Mac. PR link.

Ford(PBR12 $F) says Kansas City Assembly Plant will build the all-new E-Transit van, part of a more than $3.2 billion investment in Ford’s N American manufacturing facilities to produce a series of new electric vehicles for commercial and retail customers. PR link.

Target(PBR36 $TGT) and Ulta Beauty(PBR402 $ULTA) form strategic, long-term partnership with Ulta Beauty at Target, the “shop-in-shop” concept, to debut at 100+ Target locations starting in 2021. PR link.

United Airlines(PBR74 $UAL) to return to JFK NY Airport after 5 years, to offer nonstop transcontinental flights from NY to Los Angeles(LAX) and San Francisco(SFO) starting 02/01/21. PR link.

Uber(PBR224 $UBER) gets Antitrust Division of the US Dept of Justice approval with some conditions for $2.65 billion acquisition of Postmates delivery service, Postmates stockholders need to approve, to close in 4Q20. PR link.

DISH(PBR243 $DISH) says that its Slingbox servers would be permanently disabled 24 months after 11/09/20, is not related to its Sling-TV streaming service. appleinsider PR link.

Lithia Motors(PBR245 $LAD) has acquired $1.4 billion in revenue from 9 locations in S California and Phoenix, AZ and 800 associates, and brands Mercedes, Audi, Lexus, Toyota & Hyundai, from the Keyes Automotive Group, terms not disclosed. PR link.

YUM!(PBR491 $YUM)’s Pizza Hut unit is partnering with Beyond Meat(NASDAQ: BYND) to become the first national pizza company to offer a plant-based meat pizza coast-to-coast. Beyond Meat PR link.

AMC Entertainment(PBR503 $AMC) launches private rental theatres following a 4 week beta test, rental fee includes the price of tickets for up to 20 people, no minimum food and drink purchase requirement, from $99 to $349 depending on movie. PR link.

Take-Two Interactive(PBR728 $TTWO) to acquire UK based publisher and game developer Codemasters Group Holdings PLC for $6.82/share cash & stock, for an implied equity value of around $994 million, to close in 1Q21. PR link.

Wendy’s(PBR939 $WEN) Restaurants of Canada moves into the growing ghost kitchen space through a partnership with REEF’s Neighborhood Kitchens in Toronto, first move of several to come, as ghost kitchens are an important component of Wendy’s non-traditional growth strategy. PR link.

The US Dept of Labor says the Preliminary September 2020 US Job Openings-Private is at 5,740,000, Government 695,000, September 2020 Total Job Openings is at 6,435,000, August 2020 was at 6,352,000, July 2020 6,697,000, September 2019 7,0460,000. PR link.

CoreLogic says the August 2020 US House Mortgages 30 or More Days Delinquent is at 6.6%, July 2020 was at 6.6%, June 2020 7.1%, August 2019 3.7%. “… back-mortgage payments continue to add up for those unable to exit forbearance periods early. Looming unpaid mortgage payments, paired with sharp declines in income for many families, point to a potential wave of home sales triggered by financial distress in 2021 as forbearance periods end.” PR link.

***Monday, November 9

General Motors(PBR18 $GM) to add 3,000 new tech jobs to boost virtual testing and software expertise positions across engineering, IT and design, includes initiatives to increase diversity and inclusion and contribute to GM’s electric vehicles and customer experience priorities, hiring through 1Q21. PR link.

Pfizer(PBR62 $PFE) and BioNTech SE(Nasdaq: BNTX) say their mRNA-based vaccine candidate, BNT162b2, against SARS-CoV-2 has demonstrated evidence of efficacy against COVID-19 in participants without prior evidence of SARS-CoV-2 infection, based on the first interim efficacy analysis conducted on 11/08/20 by an external, independent Data Monitoring Committee (DMC) from the Phase 3 clinical study. PR link.

United Airlines(PBR74 $UAL) is adding more than 1,400 domestic flights during the week of Thanksgiving and is monitoring bookings in real-time to swap in larger aircraft when needed to accommodate last-minute demand. PR link.

Eli Lilly(PBR140 $LLY) gets US FDA Emergency Use Authorization for investigational neutralizing antibody bamlanivimab (LY-CoV555) 700 mg Bamlanivimab, is authorized for the treatment of mild to moderate COVID-19 in adults and pediatric patients 12 years and older with a positive COVID-19 test, who are at high risk for progressing to severe COVID-19 and/or hospitalization. PR link.

Rite Aid(PBR143 $RAD) launches RxEvolution strategy, to provide fusion of traditional medicine and alternative remedies to help people not just get healthy, but get thriving, includes a new brand identity (logo), whole health merchandise, a refreshed digital experience, and its new Store of the Future store prototype currently piloting in select markets. PR link.

McDonald’s(PBR150 $MCD) to introduce its new Crispy Chicken Sandwich in 2021, tested its first plant-based burger in select restaurants in Canada starting in 2019, to offer its own McPlant plant-based patty served on a warm, sesame seed bun with all the classic toppings starting in 2021 in locations that want to try it. PR link.

Adobe Systems(PBR275 $ADBE) to acquire work management platform for marketers provider with 3,000 customers with 1 million users Workfront for $1.5 billion, to close by end of 02/21. PR link.

JCPenney(PBR291 $JCPNQ) receives court approval for asset purchase agreement with Brookfield Asset Management, Simon Property(PBR481 $SPG) and first lien lenders, to close in late 11/20. PR link.

VF Corp(PBR294 $VFC) to acquire privately-owned $500 million in annual revenues global streetwear brand Supreme by acquiring stakes of The Carlyle Group(PBR682 $CG) and Goode Partners, to close by 12/31/20, terms not disclosed. PR link.

Casey’s General Stores(PBR332 $CASY) to acquire Buchanan Energy, owner of Bucky’s Convenience Stores, in an all-cash net transaction for $500 million, includes 94 retail stores and 79 dealer locations, as well as multiple parcels of real estate, brings Casey’s footprint to 2,300+ stores, to close by 12/31/20. PR link.

Blackstone(PBR404 $BX) to acquire specialty mechanical, electrical and controls services company focused on designing, building, and servicing complex systems in mission-critical facilities 2,200 professionals and engineers firm Therma Holdings LLC from Gemspring Holdings, to close in 4Q20, terms not disclosed. PR link.

Alaska Air(PBR348 $ALK) CEO Brad Tilden to retire on 03/31/21, will remain Chairman, President and Board member Ben Minicucci named CEO successor. PR link.

FannieMae says the October 2020 US Home Purchase Sentiment Index is at +81.7, September 2020 was at +81.0, August 2020 +77.5, October 2019 88.8. “To date, the HPSI has recovered over 60 percent of its COVID-19 pandemic loss, reflecting the bright spot that the mortgage market has been in the economy. However, the continuing evolution of the pandemic and the 2020 election outcomes may have longer lasting and unexpected impacts on consumer sentiment, as we saw following the 2016 elections…” PR link.

***Friday, November 6

The PBRMarketTools US Stock Exchanges Recap for Week 45 of 2020 ending 11/06/20:

DJIA ends Week 45 at 28,323.40, +6.87% from last Friday/MTD, +1.95% QTD, –0.75% YTD, -4.16% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 45 at 11,895.23, +9.01% from last Friday/MTD, +6.52% QTD, +32.57% YTD, -1.34% from record 12,056.44 set 09/02/20.

SPX ends Week 45 at 3,509.44, +7.32% from last Friday/MTD,
4.35% QTD, +8.63% YTD, -1.99% from record 3,580.84 set 09/02/20.

The Week 45 of 2020 News Summary: The Coronavirus Pandemic continues to be part of most major news items. Here are the latest tallies: As of today, Friday, 11/06/20, at 1:24PM Eastern US, the John Hopkins University CSSE unit says there are now 49,129,021 confirmed cases globally with 1,239,896 deaths, an increase of 53,471, which is +7,999 from last Friday. For the US it is 9,678,326 confirmed cases and 235,541 deaths, an increase of 6,185, which is +557 from last Friday. Britain joins Germany and France by imposing some lockdowns. There has not been much news about vaccines still in Phase 3 testing, but updated data is expected in the next week or so. In the US there were reports indicating that over 100,000 new people have declared infected in each of the past few days. US, state and local governments are assessing what they should do and some are taking actions to balance safety and yet keep their economies afloat. There was not much news on the international trade front, it was very quiet as countries to continue to focus on their own local pandemic issues and assess how the US general elections results will affect them. In US economic news jobs continue to move up. The ADP private sector reports and the US government statistics show an increase in employment, the unemployment rate dropped to 6.9%. The Federal Open Market Committee met this week, kept US government short term interest rates at 0.00-0.25% and says the economy is recovering, but at a slower rate, and strongly suggests that another stimulus program authorized by the US Congress would be a big help, especially for the unemployed and those living in poverty. It was another week for corporate earnings, which were generally positive. Businesses continue to re-open in creative ways, but still have hard decisions to make, especially for those in the hospitality industries. For example, cruise lines continue to cancel cruises, theme parks are not coming close to their attendance numbers from last year, hotels and restaurants are generally open now but with a wide range of limited capacity and more restrictions. Of course, the big news this week was the US general elections. Voting was on November 3rd, a record number of mailed in ballots have slowed the counting process, but at this time it looks like former VP Joe Biden will win over President Trump by a very narrow margin. With over 140 million votes counted the margin to win the Electoral College could go either way by less than 100,000 of the public votes. The House of Representatives will remain under control of the Democrats by a smaller margin than before as Republicans get a net gain. Similarly, control of Senate will probably remain with the Republicans by a very slim 1 or 2 vote margin, depending on runoff Senate elections in the state of Georgia. President Trump is not giving up easily. His legal teams are filing court motions demanding recounts in states where he narrowly lost. The stock markets responded with great joy that the end of the US President election will be over shortly. The Stock Market Bull made a miraculous recovery from a near death experience in Week 44, in Week 45 recovers all losses leaving The Stock Market Bear dazed and wondering, “What happened?” What will happen in Week 46? The easiest way is to analyze all the data, news, and analytics, then flip a coin to verify your answer!

The Week 45 of 2020 tally YTD is:
The Stock Market Bull: 22 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 5 weeks

Walmart(PBR1) to sell its 92 stores with over 9,000 employees business in Argentina to Grupo de Narváez, a Latin American group, terms not disclosed. PR link.

Carnival Corp(PBR153) temporary suspends its Costa Deliziosa cruises to Greece from 11/07/20 to 12/26/20. PR link.

Take-Two Interactive(PBR728) confirms it is in discussions to acquire UK based publisher and game developer Codemasters Group Holdings PLC, for $4.82/share cash and stock. PR link.

CVS Health(PBR5) President/CEO Larry J. Merlo to step down from the roles on 02/01/21, remain on the Board until its next annual meeting, EVP & President/Aetna unit Karen S. Lynch is named successor. PR link.

The US Dept of Labor says the October 2020 US Employed is at 149,806,000, September 2020 was at 147,563,000, August 2020 147,288,000, October 2019 158,544,000; October 2020 Unemployment Rate is at 6.9%, September 2020 was at 7.9%, August 2020 8.4%, October 2019 3.6%. PR link.

The US Federal Reserve Board says the Preliminary September 2020 US Consumer Credit Outstanding-Revolving is at $988.6 billion, Non-Revolving $3,172.7 billion, Total Credit Outstanding $4,161.3 billion, August 2020 was at $4,145.1, July 2020 $4,152.0 billion, July 2020 $4,152.0 billion, September 2019 $4,138.2 billion. PR link.

The US Dept of Commerce/Census says the Preliminary September 2020 US Wholesale Sales-Durables is at $238.8 billion, Non-Durables $247.3 billion, Total Wholesale Sales is at $486.1 billion, August 2020 was at $485.7 billion, July 2020 $479.9, September 2019 $497.6 billion. PR link.

***Thursday, November 5

Cigna(PBR13 $CI) in 3Q20 report says it now has 189.7 million total customer relationships, had 169.7 million in 3Q19. PR link.

Walt Disney(PBR49 $DIS)’s ESPN unit to lay off 300 staffers and to scrap 200 open positions in response to ongoing COVID-19 pandemic. TheWrap PR link.

Merck(PBR67 $MRK) to acquire privately held clinical-stage biopharmaceutical company developer of cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1) VelosBio for $2.75 billion in cash, to close by end of 2020. PR link.

T-Mobile US(PBR70 $TMUS) in 3Q20 report says it had 2,035,000 total net additions, now has over 100 million total customers. PR link.

VISA(PBR132 $V) responds to the US Dept of Justice filing a lawsuit against the $5.3 billion acquisition of Plaid, says Plaid is not a competing payments service, plans to defend acquisition vigorously. PR link.

American Electric Power(PBR201 $AEP) to retire the Pirkey Plant (580 MW) in Hallsville, TX, in 2023 and cease using coal at the Welsh Plant (1,053 MW), in Pittsburg, TX, in 2028, removes 1,633 megawatts (MW) of coal-fueled generation from its fleet by the end of 2028, other conversion plans announced. PR link.

Molson Coors(PBR293 $TAP) completes $150 million sale its Irwindale, CA., brewery property to Pabst subsidiary Irwindale Brew Yard who is studying the feasibility of reopening the facility, Molson Coors has already transitioned the production from Irwindale to its breweries in Golden, CO, and Fort Worth, TX. PR link.

American Tower(PBR398 $AMT) to acquire InSite Wireless Group, which owns, operates and manages approximately 3,000 communications sites, primarily in the US and Canada, for $3.5 billion, includes debt, to close by end of 2020. PR link.

Electronic Arts(PBR496 $EA), the National Hockey League (NHL), and the NHL Players Association (NHLPA) announce a multi-year renewal to their partnership, will allow EA SPORTS™ to accelerate authentic and innovative hockey simulation experiences for millions of players worldwide. PR link.

Electronic Arts(PBR496 $EA) and UFC announced a multi-year renewal of their partnership to continue to deliver authentic, innovative, and thrilling mixed martial arts (MMA) games to millions of players worldwide. PR link.

IAC(PBR556 $IAC) 3Q20 Letter to Shareholders outlines plan to possibly spinoff its Vimeo unit to shareholders, provides turnkey tools for livestreaming, screen recording, video creation, collaboration, distribution, storage, and monetization, has raised $150 million from outside investors, values Vimeo at $2.75 billion. PR link.

iHeartMedia(PBR649 $IHRT) gets US Federal Communications Commission approval to increase its authorized aggregate foreign ownership from 25% to 100%. PR link.

Laureate Education(PBR702 $LAUR) closes on its sale of its Australian and New Zealand operations(Torrens University and Think Education in Australia and Media Design School in New Zealand) to Strategic Education(NASDAQ: STRA) for $642.7 million. PR link.

Terminix(PBR883 $TMX) reaches a settlement with the Alabama Attorney General regarding its Mobile Bay Formosan termite business practices, will set up a $25 million state-sponsored consumer fund, pay $19 million to Alabama Attorney General, expects future termite damage claim expenses above historical norms to be between $140 to $150 million from 2020 to 2029, which includes settlement amounts. PR link.

SeaWorld(PBR975 $SEAS) says in 3Q20 report that it had 1.6 million guests, had 8.2 million guests in 3Q19, result of COVID-19 pandemic, has 10 of 12 parks open at end of September 2020. PR link.

The Federal Open Market Committee releases a statement from its meetings held 11/04-05/20, keeps federal short term interest rates at 0.00-0.25%, says “The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. The path of the economy will depend significantly on the course of the virus.” PR link.

The US Dept of Labor says the Preliminary 3Q20 US Labor Productivity Output/Hour-Business Sector is at +6.4%, 2Q20 was at +9.6%, 1Q20 +0.0%, 3Q19 +0.2%. PR link.

***Wednesday, November 4

T-Mobile US(PBR70) to pay a $200 million fine to the US to resolve a Federal Communications Commission (FCC) investigation into its subsidiary Sprint for failing to comply with rules on a low-income subsidy program called Lifeline. Reuters PR link.

Uber(PBR224), Lyft(PBR660) see California ballot win as national model, ride-service drivers to remain independent contractors instead of employees entitled to benefits. Automotive News PR link.

ADP says the Preliminary October 2020 US Change In Non-Farm Private Employment-Small Business is at +114,000, Mid-Sized Business +135,000, Large Business +116,000, Total +365,000, September 2020 was at +753,000, August 2020 +482,000, October 2019 +73,000. PR link.

The US Dept of Commerce/Census says the Preliminary September 2020 US Exports-Goods are at $122.8 billion, Services $53.6 billion, Total Exports $176.4 billion; September 2020 US Imports-Goods are at $203.5 billion, Services $36.8 billion, Total Imports $240.3 billion; September 2020 Deficit is at $63.9 billion, August 2020 Deficit was at $67.0 billion, July 2020 Deficit $63.4 billion, September 2019 Deficit $47.8 billion; Total Deficit 2020 YTD(9 months) is at $485.6 billion, Total Deficit 2019 YTD was at $446.8 billion. PR link.

The Institute for Supply Management says the October 2020 US Services PMI Index(>50% economy is growing) is at 56.6%, September 2020 was at 57.8%, August 2020 56.9%, October 2019 54.7%. “Respondents’ comments are cautiously optimistic about business conditions and the economy. There is a degree of uncertainty due to the pandemic, capacity constraints, logistics and the elections…” PR link.

IHS Markit says the October 2020 US Composite PMI Output Index is at 56.3, September 2020 was at 54.3, August 2020 54.6, October 2019 50.9. “…future business optimism showed a record surge, pulling prospects for the year ahead up to the highest for more than two years. Hopes of a brighter outlook were pinned on a vaccine ending the COVID-19 pandemic over the coming year and additional stimulus supporting the economy in the meantime.” PR link.

***Tuesday, November 3

***US General Elections, Vote!***

Nike(PBR82 $NKE) issues updated letter to state and local regulators in Oregon that it is reducing its Oregon based corporate headquarters workforce by around 700 positions by 01/08/21. PR link.

SYNNEX(PBR126 $SNX) Board approves separation into 2 independent companies, separation will occur through a pro rata distribution of all Concentrix stock to SYNNEX stockholders, Concentrix to start trading on NASDAQ on 12/01/20 with ticker CNXC, will be a technology-enabled global business services company starting with around $4.7 billion in annual revenues. PR link.

Huntsman(PBR430 $HUN) completes $285 million sale of its India based Do-It-Yourself (DIY) consumer adhesives business, part of the Advanced Materials division, to Pidilite Industries Ltd. PR link.

Twitter(PBR675 $TWTR) Management Structure Committee expressed its confidence in management and recommended that the current structure remain in place with Jack Dorsey as CEO, says its previously-authorized share repurchase program will commence this quarter. PR link.

The US Dept of Commerce/Census says the Preliminary September 2020 US Factory New Orders-Durables is at $237.4 billion, Non-Durables $237.6 billion, Total Factory New Orders $475.0 billion, August 2020 was at $469.8 billion, July 2020 $466.9 billion, September 2019 $495.6 billion. PR link.

The PurdueU/CME Group October 2020 US Ag Economy Barometer Composite Index is at a record 183, September 2020 was at 156, August 2020 144, October 2019 136. “The late summer/fall rally in commodity prices, combined with government program payments arising from the second round of the Coronavirus Food Assistance Program (CFAP 2), appeared to be the primary drivers behind the sentiment improvement.” PR link.

***Monday, November 2

AT&T(PBR9 $T) completes $1.95 billion sale of its wireless and wireline operations in Puerto Rico and the US Virgin Islands to Liberty Latin America, includes 1+ million wireless subscribers; and contracts, retains DIRECTV and certain global business customer relationships and FirstNet responsibilities and relationships. PR link.

Walgreens Boots Alliance(PBR19 $WBA) and McKesson(PBR8 $MCK) completes formation of the joint venture combining their respective pharmaceutical wholesale businesses in Germany, Alliance Healthcare Deutschland (AHD) and GEHE Pharma Handel (GEHE), WBA holds a 70% controlling equity interest, MCK holds the remaining 30% interest. PR link.

Starbucks(PBR108 $SBUX) plans to open an outlet in Laos as it expands its network of more than 10,000 stores in Asian countries. Associated Press PR link.

AFLAC(PBR141 $AFL)‘s Columbus and New York subsidiaries have completed under $200 million acquisition of Zurich N America‘s US Corporate Life and Pensions (Group Benefits) business, had reinsured annualized premium of approximately $120 million. PR link.

Carnival Corp(PBR153 $CCL) is extending its five N American cruise line’s existing pause in operations through December 2020. PR link.

NextEra Energy(PBR164 $NEE) to sell a 90% interest in a 1,000 megawatt (MW) portfolio of long-term contracted renewables assets and a 100% interest in a 100-MW solar-plus-storage project for approximately $1.3 billion to NextEra Energy Partners, LP (NYSE: NEP) and a consortium of private infrastructure investors led by KKR(PBR610 $KKR), proceeds are expected to be redeployed into new wind, solar and battery storage growth opportunities, including NEE’s more than 15,000-MW renewables backlog. PR link.

Dominion Energy(PBR194 $D) has closed on the sale of the majority of its gas transmission and storage assets to Berkshire Hathaway(PBR6 $BRK.B) Energy unit for approximately $2.7 billion in cash and the transfer of approximately $5.3 billion of related indebtedness, operations include more than 5,500 miles of interstate gas transmission pipelines, about 775 billion cubic feet (Bcf) of gas storage that the company operates and an operating 25 percent stake in Cove Point; sale of the company’s interests in the Questar Pipelines to Berkshire to be completed in early 2021. PR link.

Estee Lauder(PBR222 $EL) says most of its retail stores worldwide were open by the end of its fiscal year 1Q21, September, 30% of sales were from online orders. PR link.

Boston Scientific(PBR289 $BSX) gets US FDA approval of the Ranger™ Drug-Coated Balloon, developed for the treatment of patients with peripheral artery disease (PAD) in the superficial femoral artery (SFA) and proximal popliteal artery (PPA). PR link.

Dana(PBR354 $DAN) to purchase a portion of the $300 million/year thermal-management business of Modine Manufacturing(PBR901 $MOD)‘s automotive segment for $1, to close in 1H21. PR link.

Nielsen Holdings(PBR448 $NLSN) to sell its consumer packaged goods manufacturers and retailers data and insights provider Nielsen Global Connect business to private equity firm Advent International in partnership with James “Jim” Peck, former TransUnion CEO for $2.7 billion, to close in 2Q21. PR link.

Norwegian Cruise Lines(PBR451 $NCLH) extends its suspension of global cruise voyages for its three cruise brands to include all voyages embarking in December 2020. PR link.

RR Donnelley(PBR457 $RRD) completes its $225 million in cash sale of its $530 million in revenues for year ending 06/30/20 DLS Worldwide Logistics business to TFI International(NYSE and TSX: TFII). PR link.

Camping World(PBR541 $CWH) authorizes an up to $100 stock repurchase program, expires 10/31/22. PR link.

Perrigo(PBR549 $PRGO) completes acquisition of three Eastern European OTC skincare and hair loss treatment brands, Emolium®, Iwostin® and Loxon® from Sanofi, terms not disclosed. PR link.

Laureate Education(PBR702 $LAUR) to sell its Brazilian operations, 11 higher education institutions with 267,000+ students, to Ânima Holding SA(B3: ANIM3) for around $765 million, to close in 2Q21, Anima to pay Ser the termination fee for Ser’s purchase agreement with Laureate. PR link.

Curtiss-Wright(PBR821 $CW) completes $400 million acquisition of privately held Portland, OR based 145 employees tactical communications solutions for battlefield network management provider PacStarPR link.

Fluor(PBR220 $FLR) CEO Carlos Hernandez to retire his position and from the Board at the end of 2020, Board member and former Fluor executive David Constable appointed to be CEO effective 01/01/21. PR link.

The US Dept of Commerce/Census says the Preliminary September 2020 US Construction Spending Annual Rate-Residential is at $619.8 billion, Non-Residential $794.3 billion, Total $1,414.0 billion, August 2020 was at $1,410.4 billion, July 2020 $1,399.0 billion, September 2019 $1,315.2 billion. PR link.

The Institute for Supply Management/ says the US October 2020 Manufacturing PMI Index(>50% economy expanding) is at 59.3%, September 2020 was at 55.4%, August 2020 56.0%, October 2019 48.3%. “The manufacturing economy continued its recovery in October. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories; with every month, they are becoming more proficient at expanding output. Panel sentiment was optimistic (two positive comments for every cautious comment), a slight decrease compared to September.” PR link.

IHS Markit says the October 2020 US PMI Manufacturing Index is at 53.4, September 2020 was at 53.2, August 2020 53.1, October 2019 51.3. “With clues being sought as to whether the economy can sustain its recovery after rebounding from lockdowns, the rise in the PMI in October is encouraging news. It’s inevitable that the pace of economic expansion will weaken after the surge seen in the third quarter, but the strength of the PMI hints at a recovery for which the underlying trend continues to strengthen at the start of the fourth quarter.” PR link.

TrueCar and ALG say the October 2020 Forecast for US Total Monthly New Car Sales is at 1,307,998, Average Incentive Outlay is at $3,869, Average Transaction Price $37,018, Average New Car Loan Rate 5.7%. PR link.

***Friday, October 30

The PBRMarketTools US Stock Exchanges Recap for October and Week 44 of 2020 ending 10/30/20:

DJIA ends October and Week 44 at 26,501.60, -6.47% from last Friday, -4.61% MTD/QTD, -7.14% YTD, -10.32% from record 29,551.42 set 02/12/20.

NASDAQ ends October and Week 44 at 10,911.59, -5.51% from last Friday, -2.29% MTD/QTD, +21.61% YTD, -9.50% from record 12,056.44 set 09/02/20.

SPX ends October and Week 44 at 3,269.96, -5.64% from last Friday, -2.77% MTD/QTD, +1.21% YTD, -8.68% from record 3,580.84 set 09/02/20.

The Week 44 of 2020 tally YTD is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 5 weeks

The October 2020 tally YTD is:
The Stock Market Bull: 5 months
The Stock Market Bear: 4 months
Mixed Results: 1 months

Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.

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The PBR1000 October 2020 Breaking News Recap

The PBR1000 for October: Race for the White House

PBR1000 Election Vote Race

We are in the final stretch of 2020 elections cycle. All US House seats are up for grabs, some key Senate seats, but most importantly, the White House. October will be a busy campaigning month, get ready to vote!

The October 2020 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, October 30

The PBRMarketTools US Stock Exchanges Recap for October and Week 44 of 2020 ending 10/30/20:

DJIA ends October and Week 44 at 26,501.60, -6.47% from last Friday, -4.61% MTD/QTD, -7.14% YTD, -10.32% from record 29,551.42 set 02/12/20.

NASDAQ ends October and Week 44 at 10,911.59, -5.51% from last Friday, -2.29% MTD/QTD, +21.61% YTD, -9.50% from record 12,056.44 set 09/02/20.

SPX ends October and Week 44 at 3,269.96, -5.64% from last Friday, -2.77% MTD/QTD, +1.21% YTD, -8.68% from record 3,580.84 set 09/02/20.

The October and Week 44 of 2020 News Summary: The Coronavirus Pandemic was the top news item this week as cases in Europe and the US experienced an increased rate of infection. Here are the latest tallies: As of today at 2:24PM Eastern US the John Hopkins University CSSE unit says there are now 45,426,839 confirmed cases globally with 1,186,425 deaths, an increase of 45,472, which is +5,931 from last Friday. For the US it’s 9,018,524 confirmed cases and 229,356 deaths, an increase of 5,628, which is +306 from last Friday. The increases in Europe have led Germany and France to impose some lockdowns, this appears to be a second wave of the virus, and there is some evidence now that once a person has had the virus it does not necessarukt give them immunity in the future. Several vaccines are still in Phase 3 trials and results should be available in the next week or so. In the US testing is becoming more available, results quicker and more affordable as some of the major pharmaceutical chains gear up to provide that service. For international trade news everything seems to be on pause because of the pandemic and the anticipation of the US general elections. US economic news continues to show improvement, with a big rebound in the Gross Domestic Product. Initial jobless claims continue to lessen, manufacturing continues to rise, retail is up, but cruise lines continue to have to cancel cruises. The hospitality industries continue to struggle as they attempt to re-open. The holiday season is looking good as people have adjusted their buying habits to doing more shopping online in great numbers. It was a big week for corporate earnings. Results were mixed to moderate, but generally companies seem to have adjusted to the current environment. Many experts have said a new stimulus program is needed, but Congress and the White House have not been able to reach an agreement on a bill to do that. There might be some action after election results are in. The southern part of the US was again pounded by another storm, Hurricane Zeta, which could have some economic impact as well. The US general elections are now front and center. Mail in ballots are at record numbers, at last count representing well over half the total votes cast in the 2016 elections. Former VP Biden continues to pound away at President Trump’s management style and handling of the pandemic while President Trump points to VP Biden’s 47 years in politics without really accomplishing much. The Senate did confirm Amy Coney Barrett as an Associate Justice of the US Supreme Court and she has officially been installed. Democrats continue to argue that it was a rushed process that should have waited until after the election. Citizens continue to be pounded with political ads in hopes of swaying those few who are still undecided. The polls continue to show Biden a few points ahead of Trump. Election day is next Tuesday, November 3rd, but the final results could take several days, perhaps even weeks, to determine the victor. The Stock Market Bear, however, was the clear winner in a gruesome bloodbath in Week 44, appropriate for Halloween week. The victory was so complete that it wiped out the gains of The Stock Market Bull during the month, so The Stock Market Bear gets October as well. The Year-to-Date results are now mixed. In sports news, The LA Dodgers take the World Series over The Tampa Bay Rays in 6 games. If you haven’t already, remember to vote, then sit back, munch on the leftover Halloween treats, and see how long the fireworks show will last!

The Week 44 of 2020 tally YTD is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 5 weeks

The October 2020 tally YTD is:
The Stock Market Bull: 5 months
The Stock Market Bear: 4 months
Mixed Results: 1 months

Apple(PBR4 $AAPL) makes available its new Apple One bundled subscription services, starts at $14.95/mo. PR link.

Chevron(PBR16 $CVX) to layoff around 570 from its recent Noble Energy acquisition, to cut around 10-15% of its workforce, around 4,500 to 6,750 jobs, most cuts to take place on 2020. Reuters PR link.

Lowe’s(PBR44 $LOW) to hire 20,000 associates across its US stores and regional distribution centers to support customer demand this holiday season and beyond, in addition is filling permanent full-time and part-time roles at stores and adding 2,500 team members at regional distribution centers nationwide, also commits another $100 million in discretionary bonuses to thank front-line hourly associates, full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150. PR link.

Pfizer(PBR62 $PFE) gets US Federal Trade Commission clearance for its Upjohn division to merge with Mylan(PBR271 $MYL), combined company to become Viatris, to close on 11/16/20. PR link.

Marriott Intl(PBR151 $MAR) investigation of the Starwood reservations database incident reported by Marriott in November 2018 by the UK Information Commmissioners Office is completed, MAR to pay around a $25 million fine, admits no liability, Starwood reservations system has been shut down. PR link.

Waste Management(PBR203 $WM) completes $30.30/share, total enterprise value of $4.6 billion acquisition of Advanced DisposalPR link.

Regeneron(PBR384 $REGN) receives a recommendation from the independent data monitoring committee (IDMC) for the REGN-COV2 antibody cocktail treatment trials for COVID-19 that the current hospitalized patients requiring high-flow oxygen or mechanical ventilation be placed on hold pending collection and analysis of further data on patients already enrolled, also recommends continuing enrollment of hospitalized patients requiring either no or low-flow oxygen as the risk/benefit remains acceptable in these cohorts, recommends continuation of the outpatient trial without modification. PR link.

Spirit AeroSystems(PBR385 $SPR) completes $865 million acquisition of select assets of Bombardier aerostructures and aftermarket services businesses in Belfast, Northern Ireland; Casablanca, Morocco; and Dallas, US. PR link.

Under Armour(PBR520 $UA) to sell its 200+ million users MyFitnessPal platform to Francisco Partners for $345 million, to close in 4Q20. PR link.

Twitter(PBR675 $TWTR) average monetizable daily active usage reached 187 million users in 3Q20, up 29% year over year, 2Q20 was at 186 million. PR link.

Hologic(PBR683 $HOLX) awarded a $119 million contract from the US government to expand its production capacity for COVID-19 molecular tests, will support capital and labor investments enabling Hologic to provide 13 million COVID-19 tests per month for the US market by January 2022. PR link.

SM Energy(PBR951 $SM) President/CEO Jay Ottoson to retire on 11/02/20, President/COO Herbert Vogel is successor as planned. PR link.

The US Dept of the Treasury says the 10/26/20 National Debt-Public is at $21.1 trillion, Intragovernmental $6.1 trillion, Total National Debt $27.2 trillion, 09/30/20 was at $27.0 trillion, 08/31/20 $26.7 trillion, 10/31/19 $23.0 trillion. PR link.

The US Dept of the Treasury says the 10/30/20 US 10 Year Treasury Note Yield is at 0.88%, 09/30/20 was at 0.69%, 08/31/20 0.72%, 10/31/19 1.69%. PR link.

The US Dept of Commerce/BEA says the Preliminary September 2020 US Personal Income Annual Rate is at $19.8 trillion, August 2020 was at $19.6 trillion, July 2020 $20.1 trillion, September 2019 $18.7 trillion. More data at the PR link.

The U of Michigan Final October 2020 Consumer Sentiment Index is at 81.8, September 2020 was at 80.4, August 2020 74.1, October 2019 95.5. “… renewed optimism now requires progress against the coronavirus and mitigating its uneven impact on families, firms, and local governments.” PR link.

The American Automobile Assn says the 10/30/20 US Average Price of Regular Gas/Gallon is at $2.142, 09/30/20 was at $2.188, 08/31/20 $2.233, 10/31/19 $2.614. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary September 2020 US 7th District Midwest Economy Index is at +4.30, August 2020 was at +1.55, July 2020 -3.58, September 2019 -0.48. “Contributions to the September MEI from all four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states increased from August.” PR link.

The MNI October 2020 Chicago Business Barometer(>50 gaining) is at 61.1, September 2020 was at 62.4, August 2020 51.2, September 2019 47.1. “… marks the fourth consecutive reading above the 50-mark after sitting below it for a year.” PR link.

***Thursday, October 29

ExxonMobil(PBR3 $XOM) to reduce staffing levels in the US, primarily at its management offices in Houston, TX, anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs, result of COVID-19 impact. PR link.

Comcast(PBR28 $CMCSA) in 3Q20 had 556,000 net additions, now has 32.7 million total customers. PR link.

Target(PBR36 $TGT) launches its “Black Friday Now” campaign, series of weekly deals through November. PR link.

AFLAC(PBR141 $AFL) and medical insurance for cats and dogs provider Trupanion(Nasdaq: TRUP) enter into an exclusive alliance agreement to sell pet insurance in worksites across the US. PR link.

Carnival Corp(PBR153 $CCL)’s AIDA Cruises pauses its cruises for November because of Germany implementing new measures to contain the coronavirus pandemic, which AIDA Cruises fully supports. PR link.

Netflix(PBR158 $NFLX) keeps basic plan at $9/month, raising prices today on its standard plan from $13 to $14/month, and the premium plan from $16 to $18/month. The Verge PR link.

Ralph Lauren(PBR462 $RL) to transition its Chaps brand to a fully licensed business model, has entered into a multi-year licensing partnership, taking effect on 08/01/21 after a transition period, with an affiliate of 5 Star Apparel LLC, a division of the OVED Group, to manufacture, market and distribute Chaps menswear and womenswear. PR link.

Alliance Data(PBR493 $ADS) to acquire Bread, a tech-driven digital payments company with an omnichannel solution for retailers and platform capabilities to banks, for around $450 million, approximately $100 million is ADS common stock, to close in 4Q20. PR link.

Tempur Sealy(PBR726 $TPX) in 3Q20 report increases share repurchase program by around $170 million to $300 million, to initiate a quarterly dividend in early 2021, and authorizes a 4:1 stock split to occur in 4Q20. PR link.

Marvell Technology(PBR795 $MRVL) to acquire Santa Clara, CA-based $366 million in revenues in 2019 high-speed data interconnect platform developer Inphi Corporation (NASDAQ: IPHI) for $66/share cash plus 2.323 shares of the combined company for each Inphi share, around $10 billion, will create a $40 billion enterprise company, to close by 2H21. PR link.

WW(PBR973 $WW) in 3Q20 report says it increased its subscriber base to 4.7 million, up from 4.4 million at end of 3Q19, includes 3.8 million digital subscribers and 0.9 million Studio + Digital subscribers. PR link.

Starbucks(PBR108 $SBUX) Chairman Emeritus Howard Schultz interviewed in an episode of Talks at GS. PR link.

FirstEnergy(PBR282 $FE) CEO Charles Jones and 2 Sr VPs terminated for violating certain FirstEnergy policies and its code of conduct, President Steven E. Strah appointed Acting CEO, effective immediately. PR link.

The US Dept of Commerce/BEA says the Advance 3Q20 Real Gross Domestic Product Annual Rate is at +33.1%, 2Q20 was at -31.4%, 1Q20 -5.0%, 3Q19 +2.1%; 3Q20 Annual GDP Annual Rate is at $21.2 trillion, 2Q20 was at $19.5 trillion, 1Q20 $21.6 trillion, 3Q19 $21.5 trillion. PR link.

The US Dept of Labor says the 10/24/20 4 Week Average Initial Unemployment Claims is at 787,750, 09/19/20 was at 878,250, 08/22/20 1,068,000, 10/26/19 214,750; the 10/17/20 Total Insured 4 Week Moving Average is at 9,053,250, 09/12/20 was at 13,040,750, 08/15/20 15,215,750, 10/19/19 1,686,250. PR link.

FreddieMac says that for Week Ending 10/29/20 the US Average 30 Year Fixed Mortgage Rate is at 2.81% with 0.7 points/fees, 09/24/20 was at 2.90%, 08/27/20 2.91%, 10/31/19 3.78%. “Strong purchase demand is helping to lift the construction, manufacturing and transportation industries that build new homes and it is also leading to more consumer spending for owners, who are selling or improving their homes.” PR link.

***Wednesday, October 28

CVS Health(PBR5 $CVS) expands COVID-19 testing services with plans to add nearly 1,000 rapid-result test sites at select CVS Pharmacy locations, available at no cost to patients who meet Centers for Disease Control and Prevention criteria, may also be available as a testing option for eligible employees or students affiliated with an organization that has adopted CVS Health’s Return Ready™ return-to-work COVID-19 testing solution. PR link.

Kroger(PBR22 $KR) launching rapid antibody testing at its pharmacies, currently available at Ralph’s stores in California, and in Michigan, to be in all pharmacies by end of November, uses blood from a finger prick, takes around 15 minutes, $25 fee, eligible for people who believe they may have previously been infected with COVID-19 and are not currently experiencing symptoms. PR link.

Boeing(PBR40 $BA) CEO letter to employees says still having to respond to issues from coronovirus pandemic, will include employee layoffs, expects to have around 130,000 employees by end of 2021, had 161,000 at end of 2019. PR link.

Eli Lilly(PBR140 $LLY) announces $375 million agreement with US government to supply 300,000 vials of investigational neutralizing antibody bamlanivimab (LY-CoV555) in an effort to fight COVID-19, initial agreement is for delivery over the 2 months following a US FDA Emergency Use Authorization and also provides the option for the US government to purchase up to an additional 650,000 vials through 06/30/21, under the same terms as the base agreement and subject to agreement from Lilly, product availability and the medical need in the US. PR link.

Bed Bath & Beyond(PBR276 $BBBY) authorizes up to $675 million share repurchase program over the next 3 years, starts with an accelerated share repurchase of $225 million. PR link.

JCPenney(PBR291 $JCPNQ) has entered into an asset purchase agreement with Brookfield Asset Management, Simon Property(PBR481 $SPG) and a majority of the Company’s DIP and First Lien Lenders, looking to operate under new ownership outside Chapter 11 in advance of the 2020 holiday season. PR link.

Assurant(PBR307 $AIZ) to acquire HYLA Mobile, a leading provider of smartphone software, trade-in and upgrade services, to close by end of 2020, terms not disclosed. PR link.

Regeneron(PBR384 $REGN) announced positive, prospective results from an ongoing Phase 2/3 seamless trial in the COVID-19 outpatient setting showing its investigational antibody cocktail, REGN-COV2, met the primary and key secondary endpoints, significantly reduced viral load and patient medical visits. PR link.

Huntsman(PBR430 $HUN) to sell its India based Do-It-Yourself (DIY) consumer adhesives business, part of the Advanced Materials division, to Pidilite Industries Ltd. in an all-cash transaction valued at up to $285 million. PR link.

Chewy(PBR547 $CHWY) announces a new telehealth service, “Connect With a Vet,” allows pet parents to connect directly with a licensed veterinarian to get answers to most commonly asked questions, receive advice, discuss concerns they might have regarding the health and wellness of their pet, and even get referrals to their local vets or emergency clinics. The vets are not diagnosing medical conditions, providing treatment, or prescribing medications. PR link.

Prologis(PBR690 $PLD) has completed the sale of a portfolio of buildings and land in the UK to real estate funds managed by Blackstone(PBR404 $BX) for $618 million. PR link.

Elanco Animal Health(PBR732 $ELAN) gets US FDA approval for Elura™ (capromorelin oral solution), a new prescription medication to manage weight loss in cats with chronic kidney disease. PR link.

The US Energy Information Administration says the 10/23/20 US Crude Oil Stocks are at 492.4 million barrels, 09/25/20 was at 492.4, 08/21/20 507.8, 10/25/20 438.9. PR link.

The ADP Vitality Report says the 3Q20 US Average Workforce Wage Level is at $30.22/Hour, 2Q20 was at $30.25, 1Q20 $29.18, 3Q19 $28.69. “Though worst of the Covid-19 impact on labor market is in the rearview mirror, the road to recovery looks turbulent and downside risks are mounting.” PR link.

The Mastercard(PBR186) SpendingPulse says US holiday retail sales expected to grow 2.4%(excluding auto and gas sales) this expanded season compared to last year, runs from 10/11/20 to 12/24/20. PR link.

***Tuesday, October 27

Amazon(PBR2 $AMZN) promotes over 35,000 employees across N America operations network in 2020, opens 100,000 new seasonal jobs for the holiday season. PR link.

UPS(PBR43 $UPS) to hire 50,000+ employees at its “UPS Brown Friday” hiring blitz on 10/30/20, part of plan to hire 100,000 for the season. PR link.

T-Mobile US(PBR70 $TMUS) unveils its next-gen TV streaming services — TVision LIVE, VIBE and CHANNELS — and TVision HUB, a new streaming device, available nationwide starting next week, $10/month for entertainment channels or get live sports and news starting at $40/month. PR link.

Alphabet(PBR11 $GOOG)’s Google unit’s Waymo and Daimler Trucks partner on the development of fully autonomous trucks. PR link.

Marriott Intl(PBR151 $MAR) announces new offering to “Work Anywhere with Marriott Bonvoy” as an alternative to working from home for the day, overnight or getaway. PR link.

Carnival Corp(PBR153 $CCL) Princess Cruises unit extends pause of operations in Australia and New Zealand through 05/31/21. PR link.

AMD(PBR433 $AMD) to acquire FPGA and Adaptive SoCs innovator and developer Xilinx(PBR717 $XLNX) in all-stock deal for $143/share, around $35 billion, to close by end of 2021. PR link.

AMC Entertainment(PBR503 $AMC) to re-open its San Francisco County, Alameda County and Santa Clara County theatres beginning 10/30/20, will then have around 540 of its 600 theatres open. PR link.

Harley-Davidson(PBR511 $HOG) in 3Q20 report says it has sold 147,000 motorcycles worldwide over 9 months, sold 179,500 in same period last year, remains profitable despite coronavirus concerns. PR link.

Callaway Golf(PBR942 $ELY) to acquire Topgolf Entertainment Group, had revenues of $1.2 billion in 2019, growth of 30% per year since 2017, Callaway already has 14% stake, total TopGolf equity value is $2 billion, to close in early 2021. PR link.

Tapestry(PBR538 $TPR) appoints Interim CEO Joanne Crevoiserat to CEO, effective immediately, had previously served as CFO. PR link.

The US Dept of Commerce/Census says the Preliminary 3Q20 US Total Housing Units is at 140.9 million, Occupied is at 126.7 million, Owner Occupied is at 85.4 million, Renter Occupied 41.3 million, 3Q20 Homeownership Rate is at 67.4%, 2Q20 was at 67.9%, 3Q19 64.8%. USDOC PR link.

The Conference Board says the Preliminary October 2020 US Consumer Confidence Index(1985=100) is at 100.9, September 2020 was at 101.3, August 2020 86.3, October 2019 126.1. “There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020, especially with COVID-19 cases on the rise and unemployment still high.” TCB PR link.

The S&P CoreLogic Case-Shiller August 2020 US National Home Price Index(01/2000=100) is at 223.97, July 2020 was at 221.63, June 2020 219.87, August 2019 211.88. Case-Shiller PR link.

The US Federal Reserve Bank of Richmond says the October 2020 US 5th District Manufacturing Index(Annualized) is at +29%, September 2020 was at +21%, August 2020 +18%, October 2019 +8%. “Manufacturers were optimistic that conditions would continue to improve in the coming months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the October 2020 US 5th District Service Sector Revenue Index(Annualized) is at +19%, September 2020 was at +6%, August 2020 was at +2%, October 2019 +24%. “Contacts were optimistic that growth would continue in the next six months.” RichmondFed PR link.

***Monday, October 26

PBRMarketTools profiles Netflix, Inc(NASDAQ: $NFLX), the world’s leading streaming entertainment service with over 195 million paid memberships, ranked 158 by revenues on The PBR1000. More on the NFLX Summary page.

AIG(PBR64 $AIG) to separate its Life & Retirement business into a new company, will remain focused on General InsurancePR link.

Eli Lilly(PBR140 $LLY) antibody drug fails in a COVID-19 study, US regulators say low chance that the drug would prove helpful for hospitalized patients, government is continuing a separate study testing the antibody drug in mild to moderately ill patients, to try to prevent hospitalization and severe illness. Associated Press PR link.

Charles Schwab(PBR290 $SCHW) is eliminating about 3% of the combined workforces of the Schwab and TD Ameritrade businesses, which accounts for about 1,000 employees. InvestmentNews PR link.

Spirit AeroSystems(PBR385 $SPR) acquisition of select assets of Bombardier aerostructures and aftermarket services businesses in Belfast, Northern Ireland; Casablanca, Morocco; and Dallas, US, has been amended from $1.090 billion to $865 million, to close on 10/30/20. PR link.

JM Smucker(PBR387 $SJM) to sell its 160 employees $270 million in revenues for year ending 04/30/20 Crisco® oils and shortening business to B&G Foods for approximately $550 million cash, SJM to focus on its core growth platforms of pet food, coffee, and snacking. PR link.

Blackstone(PBR404 $BX) REIT to acquire Simply Self Storage, one of the top five private owners of self-storage and operator of a high-quality portfolio totaling 8 million sf across the US, from a Brookfield Asset Management real estate fund for approximately $1.2 billion, to close by end of 2020. PR link.

AIG(PBR64 $AIG) President/Global COO Peter Zaffino to become President/CEO on 03/01/21, current CEO Brian Duperreault will become Executive Chairman, current Independent Chairman Douglas M. Steenland to become Lead Independent Director. PR link.

The US Dept of Commerce/HUD says the Preliminary September 2020 US New Family Homes Sold/For Sale Annual Rate is at 959,000, August 2020 was at 994,000, July 2020 965,000, September 2019 726,000; September 2020 Median Home Sales Price is at $326,800, August 2020 was at $322,400, July 2020 $329,900, September 2019 $315,700. More at the USDOC PR link.

The US Federal Reserve Bank of Chicago says the Preliminary September 2020 US National Activity Index is at +0.27, August 2020 was at +1.11, July 2020 +2.61, September 2019 -0.33. “Index suggests slower, but still slightly above-average growth in September.” ChiFed PR link.

***Friday, October 23

The PBRMarketTools US Stock Exchanges Recap for Week 43 of 2020 ending 10/23/20:

DJIA ends Week 43 at 28,335.57, -0.95% from last Friday, +1.99% MTD/QTD, -0.71% YTD, -4.11% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 43 at 11,548.28, -1.06% from last Friday, +3.41% MTD/QTD, +28.71% YTD, -4.21% from record 12,056.44 set 09/02/20.

SPX ends Week 43 at 3,465.39, -0.53% from last Friday, +3.04% MTD/QTD, +7.26% YTD, -3.22% from record 3,580.84 set 09/02/20.

The Week 43 of 2020 News Summary: Predictably, there was a lot of news with most of it being infected by the Coronavirus Pandemic. Here are the latest tallies: As of today at 1:24PM Eastern US the John Hopkins University CSSE unit says there are now 42,020,333 confirmed cases globally with 1,140,953 deaths, an increase of 39,541, which is +2,549 from last Friday. For the US it’s 8,468,802 confirmed cases and 223,730 deaths, an increase of 5,320, which is +270 from last Friday. Testing of several vaccines continues, with some pharmas indicating possible valid studies to be finished from late October to mid-late November. Gilead Sciences received US FDA approval for antiviral drug Veklury® (remdesivir) for the treatment of patients with COVID-19 requiring hospitalization, one of the treatments US President Trump received during his recent bout with the virus. However, the World Health Organization says it does not feel that the drug met its guidelines, and some physicians are voicing concern about the rush to market and speed of the evaluation. There continues to be no real update of US international trade, especially with China, and the UK/European Union Brexit discussions are continuing with no definite results announced. US economic news was generally good, more seasonal hirings have been announced, the weekly initial unemployment claims dropped nicely, those on unemployment dropped by over 1 million. New home construction, existing home sales, and surveys were all on a positive trendline. The US Fed’s Beige Book survey of its 12 districts found moderate growth overall, and The Conference Board’s Leading Economic Index was up a little. A new US economic stimulus package continues to be discussed, but there appears to be some political jockeying taking place that has prevented it from becoming a reality. In corporate news the week was active in the energy sector with some key mergers of oil and gas companies announced, and the expectation that there might be more as oil prices remain low and its recovery projected to be at least a few months out. A flood of 3rd quarter earnings reports came out, with mixed results. In US political news the Senate Judiciary Committee voted to recommend Amy Coney Barrett to become the replacement for Ruth Bader Ginsburg on the US Supreme Court, with all Republicans voting “yes” and the Democrats not showing up to vote. The Senate will vote to approve the nomination next week. The most anticipated event of the week was the 2nd and final US Presidential debate between President Trump and former Vice President Biden. Bets were placed on how volatile and chaotic this last debate might be compared to the first event, but it actually was a fairly respectable showing, resulting in most political pundits observing that it probably didn’t sway any votes one way or the other. Polls continue to show Joe Biden leading, but with a narrowing gap with less than 2 weeks to go before the November 3rd election date. The US stock markets were less volatile for the week, and was a reversal of Week 42. The Stock Market Bear came out slashing aggressively on Monday, The Stock Market Bull rallied throughout the rest of the week, but, like The Bear last week, came up short, taking a 3-0 loss, ending The Bull’s most recent win streak at 3 weeks. Next week, the last full week before the US general elections, is a big question mark, and in the theme of Halloween, is a little spooky. Predicting the winner of US baseball’s World Series between the Los Angeles Dodgers and Tampa Bay Rays, tied 1-1 before tonight’s game, is probably an easier task. Prepare to vote, if you haven’t already!

The Week 43 of 2020 tally YTD is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 17 weeks
Mixed Results: 5 weeks

Wells Fargo(PBR26 $WFC) abandons plans to cut 401(k) match for high earners, would have eliminated the retirement plan match of up to 6% of salary for employees who make more than $250,000 annually, has 12,000+ financial advisers, follows reports that Wells Fargo is looking for a buyer for its $607 billion asset management unit, which could fetch more than $3 billion and help shore up its balance sheet. InvestmentNews PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit, along with AstraZeneca, get US FDA okay to resume clinical trials of their COVID-10 vaccine candidates, JNJ preparing to resume recruitment for testing. AP PR link.

UPS(PBR43 $UPS) describes logistics of delivering new Apple(PBR4) products like the iPhone 12 to people and businesses in over 20 countries on 10/23/20. PR link.

Gilead Sciences(PBR135 $GILD) completes $88.00/share, around $21 billion cash acquisition of next-generation antibody-drug conjugate (ADC) technology for hard to treat cancers developer Immunomedics(NASDAQ: IMMU), is now a non-public wholly owned subsidiary of GILD. PR link.

***Thursday, October 22

Walmart(PBR1 $WMT) has sued the US Dept of Justice and the Drug Enforcement Administration, asking a federal court to clarify the roles and responsibilities of pharmacists and pharmacies under the Controlled Substances Act. PR link.

Goldman Sachs(PBR87 $GS) has agreed to pay more than $2.9 billion, which includes more than $1 billion to settle charges by the US Securities and Exchange Commission, for violations of the Foreign Corrupt Practices Act (FCPA) in connection with the 1Malaysia Development Berhad (1MDB) bribe scheme. USSEC PR link.

Goldman Sachs(PBR87 $GS) gets fined $154 million by the Federal Reserve Board for failure to maintain appropriate oversight, internal controls, and risk management with respect to 1Malaysia Development Berhad (1MDB). USFed PR link.

Gilead Sciences(PBR135 $GILD) gets US FDA approval for antiviral drug Veklury® (remdesivir) for the treatment of patients with COVID-19 requiring hospitalization. PR link.

Uber(PBR224 $UBER) and Lyft(PBR660 $LYFT) told to classify drivers as employees less than two weeks before California votes on the issue. MarketWatch PR link.

Sirius XM Radio(PBR388 $SIRI) 3Q20 report shows net 169,000 net new self-pay subscribers, now has 34.4 million total SiriusXM subscribers at the end of the period. PR link.

Moody’s(PBR550 $MCO) President/CEO Raymond McDaniel, Jr to become Non-Executive Chairman on 01/01/21, COO Robert Fauber will become President/CEO at that time. PR link.

The Natl Assn of Realtors says the Preliminary September 2020 US Existing Home Sales Annual Rate is at 6,540,000 units, August 2020 was at 5,980,000, July 2020 5,860,000, September 2019 5,410,000; September 2020 Median Home Price is at $311,800, August 2020 was at $310,600, July 2020 $304,100, September 2019 $271,500. “There is no shortage of hopeful, potential buyers, but inventory is historically low… To their credit, we have seen some homebuilders move to ramp up supply, but a need for even more production still exists.” More info at the NAR PR link.

The Conference Board says the Preliminary September 2020 US Leading Economic Index(2016=100) is at 107.2, August 2020 was at 106.5, July 2020 105.1, September 2019 111.6. “… the decelerating pace of improvement suggests the US economy could be losing momentum heading into the final quarter of 2020… downside risks to the recovery may be increasing amid rising new cases of COVID-19 and continued labor market weakness.” TCB PR link.

***Wednesday, October 21

ExxonMobil(PBR3 $XOM)‘s Chairman/CEO Darren Woods discusses future of industry and company with employees. PR link.

General Motors(PBR18 $GM) to begin initial production of its all electric 2022 GMC HUMMER EV in late 2021. PR link.

JPMorgan Chase(PBR24 $JPM) to introduce QuickAccept, a service that will allow businesses to take card payments with no fee, and sales will hit their Chase accounts on the same day, major competitors charge 1.5%. CFO PR link.

United Airlines(PBR74 $UAL) trials digital COVID-19 ‘health pass’ to kick-start global travel again. MarketWatch PR link.

Tesla(PBR119 $TSLA) in 3Q20 report now has 5 consecutive profitable quarters, delivered 139,593 vehicles, on track to deliver 500,000 vehicles in 2020. PR link.

AutoNation(PBR148 $AN) has record 3Q20 results, plans to build over 100 AutoNation USA pre-owned vehicle stores, with over 50 completed by the end of 2025, increases share repurchase authorization to $500 million. PR link.

PayPal(PBR175 $PYPL) launches a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide, has also been granted a first-of-its-kind conditional Bitlicense by the NY State Dept of Financial Services (NYDFS). PR link.

Avery Dennison(PBR419 $AVY) in 3Q20 report says it has resumed its share repurchase program late in the quarter. PR link.

Avangrid(PBR455 $AGR) to acquire energy holding company PNM Resources(PBR967 $PNM) for $50.30/share, $8.3 billion enterprise value, Avangrid majority shareholder, Iberdrola, has provided the company with a funding commitment letter, to close within 12 months. PR link.

Laureate Education(PBR702 $LAUR) receives superior offer from Ânima Holding for its Brazilian based assets, 11 higher education institutions with 267,000+ students, Ser Educacional offer was $724 million plus 44% stake in Ser. PR link.

Snap(PBR938 $SNAP) in 3Q20 report says revenues increased 52% year-over-year to $679 million, Daily Active Users increased 18% year-over-year to 249 million. PR link.

The US Federal Reserve Open Market Committee releases its Beige Book, for data through October 9, says, “Economic activity continued to increase across all Districts, with the pace of growth characterized as slight to modest in most Districts.” FOMC PR link.

***Tuesday, October 20

The PBR25 Top Buy Stocks has been emailed to Subscribers, with a generous average of a 28% targeted 12 month return from an average of 23 analyst recommendations per stock. More details at ThePBR25 link.

Alphabet(PBR11 $GOOG)’s Google unit gets civil antitrust lawsuit filed against it by the US Dept of Justice and 11 states for unlawfully maintaining a monopoly in general search services and search advertising in violation of the US antitrust laws. USDOJ PR link.

General Motors(PBR18 $GM) to invest $2 billion to transition Spring Hill, TN plant to build electric vehicles, including Cadillac LYRIQ, additional investments at five Michigan plants planned for future crossover, pickup and Cruise AV production. PR link.

Intel(PBR45 $INTC) selling its NAND memory and storage business, which includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China, to S Korea based SK hynix for $9 billion, 2 stage closing, 1st stage to close in late 2021, 2nd stage in March 2025. PR link.

Goldman Sachs(PBR87 $GS) in agreement with the US Dept of Justice to pay over $2 billion for the bank’s role in Malaysia’s 1MDB scandal, agreement will avoid US criminal conviction, total fines to be around $5 billion. Bloomberg PR link.

Gilead Sciences(PBR135 $GILD) says not enough data is available from study of its Veklury® (remdesivir) COVID-19 trials to make a conclusive statement, is concerned about preliminary World Health Organization report indicating Veklury is not proving to be effective. PR link.

Netflix(PBR158 $NFLX) issues 3Q20 report, says had 2.2 million net new subscriber adds vs 6.8 million in 3Q19, primarily due to 1H20 results and pull-forward effect, has 195.15 million subscribers, forecasting 201.15 million by end of 2020. PR link.

Kohl’s(PBR159 $KSS) announces a new private label, specialty athleisure brand, FLX, available in select stores and online at Kohls.com beginning March 2021. PR link.

MGM Resorts(PBR241 $MGM) after 8 months of Covid-19 pandemic shutdowns will return seven shows to stages at MGM Grand, Luxor and Excalibur beginning November 6, seating initially limited to 250 people. PR link.

JCPenney(PBR291 $JCPNQ) files a draft asset purchase agreement to sell JCPenney, retail and operating assets to be sold to Brookfield Asset Management and Simon Property(PBR481 $SPG), plan is to close prior to holiday shopping season. PR link.

Pioneer Natural Resources(PBR479 $PXD) to acquire Parsley Energy(PBR904 $PE) for $4.5 billion in all-stock deal, a 7.9% premium from the Parsley 10/19/20 closing stock price, total value with Parsley debt is $7.6 billion, to close in 1Q21. PR link.

AMC Entertainment(PBR503 $AMC) to sell up to 15,000,000 shares of Class A common stock to raise cash for general corporate purposes. PR link.

The US Dept of Commerce/HUD says the Preliminary September 2020 US Private Housing Building Permits Issued Annual Rate is at 1,553,000, August 2020 was at 1,476,000, July 2020 1,483,000, September 2019 1,473,000. USDOC PR link.

The US Federal Reserve Bank of Philadelphia says the October 2020 US 3rd District Nonmanufacturing Current General Activity Index is at +16.0, September 2020 was at +8.0, August 2020 +1.6, October 2019 +12.2. “Respondents expect overall improvement in conditions over the next six months.” PhillyFed PR link.

***Monday, October 19

CVS Health(PBR5 $CVS) to hire 15,000 across the US in 4Q20, 10,000+ are for full- and part-time licensed pharmacy technicians at CVS Pharmacy locations, is incremental to the accelerated recruiting effort announced in March to hire 50,000 in support of the response to the pandemic. PR link.

Target(PBR36 $TGT) is awarding 350,000+ frontline team members another $200 bonus by early November, will go to all eligible hourly team members in stores and distribution centers—including seasonal hires—plus hourly team members who support Target’s guest and team member contact centers, is 4th bonus program in 2020, now also providing permanent minimum starting wage of $15/hour. PR link.

Albertsons(PBR55 $ACI) piloting PickUp temperature-controlled lockers in select Chicago Jewel-Osco and Bay Area Safeway stores as the newest easy fulfillment option for e-Commerce orders made through the company’s websites and apps. PR link.

ConocoPhillips(PBR86 $COP) to acquire Concho Resources(PBR572 $CXO) in an all-stock transaction valued at $9.7 billion, will be the largest independent oil and gas company, with pro forma production of over 1.5 million barrels of oil equivalent per day and a combined resource base of approximately 23 billion barrels of oil equivalent with a less than $40 per barrel WTI cost of supply and an average cost of supply below $30 per barrel WTI, to close in 1Q21. PR link.

Sirius XM Radio(PBR388 $SIRI) completes $265 million cash plus up to $60 million based on milestones achieved acquisition of pioneer in podcast production, distribution, and ad sales company Stitcher from E W Scripps (NASDAQ: SSP)PR link.

AMC Entertainment(PBR503 $AMC) to resume operations in several theatres in New York state on 10/23/20, expects to have 530+ of its 600 total locations open in 44 of 45 states by end of month. PR link.

Juniper Networks(PBR589 $JNPR) to acquire WAN connectivity solutions provider 128 Technology for $450 million, to close in 4Q20. PR link.

The Natl Assn of Home Builders/Wells Fargo says the Preliminary October 2020 US Housing Market Sales Conditions Index is at 85, September 2020 was at 83, August 2020 84, October 2019 71. “… builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September… Buyer traffic remains high and record-low interest rates are keeping demand strong as the concept of ‘home’ has taken on renewed importance for work, study and other purposes during and after the virus-induced downturn. However, it is becoming increasingly challenging to build affordable homes as shortages of lots, labor, lumber and other key building materials are lengthening construction times.” PR link.

***Friday, October 16

The PBRMarketTools US Stock Exchanges Recap for Week 42 of 2020 ending 10/16/20:

DJIA ends Week 42 at 28,606.31, +0.07% from last Friday, +2.97% MTD/QTD, +0.24% YTD, -3.20% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 42 at 11,671.56, +0.79% from last Friday, +4.51% MTD/QTD, +30.08% YTD, -3.19% from record 12,056.44 set 09/02/20.

SPX ends Week 42 at 3,483.81, +0.19% from last Friday, +3.59% MTD/QTD, +7.83% YTD, -2.71% from record 3,580.84 set 09/02/20.

The Week 42 of 2020 News Summary: As usual, let’s start with the Coronavirus Pandemic tallies update. As of today at 2:23PM Eastern US the John Hopkins University CSSE unit says there is now 39,160,871 confirmed cases globally with 1,101,412 deaths, an increase of 36,992, -2,074 from last Friday. For the US it’s 8,032,805 confirmed cases and 218,410 deaths, an increase of 5,050, +210 from last Friday. Eli Lilly has suspended its COVID-19 Phase 3 study because of a patient situation, but could resume after some analysis is done. The US FDA has authorized a new Abbott Labs COVID-19 antibody test. Finally, Pfizer says it should know if its vaccine is effective by the end of October and could possibly get US FDA Emergency Use Authorization in November. The 2020 US Presidential Election Campaign continues to gain attention. President Trump says he has recovered from his bout with COVID-19, is testing negative, and has returned to the campaign trail and was featured at a Town Hall meeting in Florida on Thursday night while rival former VP Joe Biden was in Philadelphia for a Town Hall meeting there at the same time. They were originally scheduled for a debate but President Trump would not agree to a “Virtual” gathering and former VP Biden would not agree to the original in person event. A final debate is scheduled for Thursday, October 22, and both are expected to attend. Polls continue to show a close race with a widening edge for former VP Biden. Expect intense firefights in the coming weeks with potential “nuclear” arsenals dropped in the last few days before the November 3 voting day. On Monday through Thursday a lot of attention was focused on the US Senate Judiciary Committee’s Hearings on the nomination of Amy Coney Barrett as Associate Justice of the US Supreme Court to take a seat vacated by the recent passing of Ruth Bader Ginsburg. Receiving the highest evaluation possible from the American Bar Association, and highly acclaimed as an attorney, law professor, and 7th District Court Judge, by peers and students, she nevertheless was surrounded by controversies because of the timing of the nomination during a US Presidential election, and concerns that her “Originalist” and “Textualist” judicial philosophies might result in the overturn of the Affordable Care Act(aka ObamaCare), Roe vs. Wade abortion rights decisions, and be a conflict if the election has to be decided by the Court. The Committee votes on her nomination on October 22, since there is a Republican majority she is expected to be approved in a party line vote, and then will have to be approved by the full Senate, probably the week after. It has been an interesting civics lesson with sharp and impassioned arguments presented by both sides. There is not much to report on international news. There has been little mention of US/China trade negotiations. The UK and European Union continue to struggle with coming up with an acceptable trade agreement. Back in the US there are no new hurricanes threatening, but wildfires continue to create problems in the West. US economic news was more positive than negative for the week. Initial jobless claims went up more than expected, the Federal Reserve said the 2020 fiscal year budget deficit exceeded $3.1 trillion, compared to just under $1 trillion in fiscal year 2019, thanks to the stimulus packages enacted because of COVID-19 impacts. Manufacturing was up, retail was up, a key consumer survey continues to increase as well, but still not at levels a year ago. Discussions on a new stimulus bill continues, but is hard to assess what the real progress is at this point, and most experts now say nothing will happen until after the election. The Stock Market Bull charged into the pasture on Monday, but pretty much decided to lay down the rest of the week. The Stock Market Bear tried to take advantage, but fell just short at the final bell on Friday. The Stock Market Bull gets a narrow 3-0 sweep in Week 42, the third week in a row. Halloween is almost here, it’s getting a little scary at times, enjoy the ride!

The Week 42 of 2020 tally YTD is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 16 weeks
Mixed Results: 5 weeks

Amazon(PBR2 $AMZN) to open a new fulfillment centers in Kansas City, KS, and Park City, KS, both 1,000,000 sf facilities, to launch in 2021, will create 1,000 new full-time jobs. PR link.

CVS Health(PBR5 $CVS) will be providing COVID-19 vaccinations to long-term care facilities throughout the US when the vaccine becomes available. PR link.

Pfizer(PBR62 $PFE) says effectiveness of its COVID-19 effectiveness could be known by the end of October, earliest it could apply for US FDA Emergency Use Authorization is the 3rd week in November. PR link.

AbbVie(PBR94 $ABBV) gets US FDA Full Approval for VENCLEXTA® (venetoclax) for treatment of Acute Myeloid Leukemia (AML). PR link.

Navistar(PBR274 $NAV) sends letter to TRATON SE to confirm its willingness to acquire Navistar for $44.50/share. PR link.

Hertz(PBR315 $HTZ) has secured commitments for debtor-in-possession (“DIP”) financing totaling $1.65 billion, has filed for approval of the financing by the US Bankruptcy Court, hearing is set for 10/29/20. PR link.

Frontier Communications(PBR375 $FTRCQ) gets NY Public Service Commission approval for Chapter 11 reorganization, still waiting for some more states, plans to emerge from Chapter 11 in early 2021. PR link.

CIT Group(PBR850 $CIT) and First Citizens BancShares(NASDAQ: FCNCA) will combine in an all-stock merger of equals to create the 19th largest bank in the US based on over $100 billion in assets, First Citizens stockholders to own 61%, CIT Group 39%, will operate under the First Citizens name, NASDAQ: FCNCA, be headquartered in Raleigh, NC, to close in 1H21. PR link.

The US Dept of the Treasury says the September 2020 US Federal Government Receipts are at $373.2 billion, Outlays $497.8 billion, Deficit $124.6 billion; Receipts for Fiscal Year 2020 are $3,420.0 billion, Outlays $6.551.9 billion, FY 2020 Deficit is at $3,131.9 billion, FY 2019 Deficit was at $984.4 billion. PR link.

The US Federal Reserve Board says the Preliminary September 2020 US Industrial Production % of Capacity is at 71.5%, August 2020 was at 72.0%, July 2020 71.6%, September 2019 77.4%. PR link.

The US Dept of Commerce/Census says the Preliminary August 2020 US Sales-Manufacturers is at $481.3 billion, Retail $484.5 billion, Wholesalers $486.6, Total Sales $1,452.4 billion, July 2020 was at $1,443.5 billion, June 2020 $1,396.2 billion, August 2019 $1,458.5 billion. PR link.

The US Dept of Commerce/Census says the Advance September 2020 US Retail Sales-Retailers is at $493.7 billion, Food Services & Drinking Places $55.6 billion, Total Retail Sales $549.3 billion, August 2020 was at $539.0 billion, July 2020 $535.9 billion, September 2019 $521.3 billion. PR link.

The U of Michigan Preliminary October 2020 US Consumer Sentiment Index is at 81.2, September 2020 was at 80.4, August 2020 74.1, October 2019 95.5. “Slowing employment growth, the resurgence in covid-19 infections, and the absence of additional federal relief payments prompted consumers to become more concerned about the current economic conditions. Those concerns were largely offset by continued small gains in economic prospects for the year ahead.” PR link.

***Thursday, October 15

Amazon(PBR2 $AMZN) says that Prime Day was a record-breaking event for small and medium businesses worldwide, with sales surpassing $3.5 billion—an increase of nearly 60% from last year. PR link.

General Motors(PBR18)’s Cruise unit gets a permit from the California DMV to remove the human backup drivers from its self-driving cars, is not the first to receive a permint, but says it’s going to be the first to put it to use on the streets of a major US city, to start by end of 2020. PR link.

Eli Lilly(PBR140 $LLY) to acquire privately held Disarm Therapeutics, creator of a new class of disease-modifying therapeutics for patients with axonal degeneration, for an upfront payment of $135 million, plus up to $1.225 billion in additional future payments for potential development, regulatory and commercial milestones. PR link.

Regeneron(PBR384 $REGN) gets US FDA approval for Inmazeb® (atoltivimab, maftivimab and odesivimab-ebgn) for the treatment of infection caused by Zaire ebolavirus in adult and pediatric patients, including newborns of mothers who have tested positive for the infection. PR link.

The US Dept of Labor says the Preliminary September 2020 Import Prices Index Change is at +0.3%, August 2020 was at +1.0%, July 2020 +1.2%, September 2019 +0.1%, Last 12 Months -1.1%; September 2020 Export Prices Index Change is at +0.6%, August 2020 was at +0.5%, July 2020 +1.0%, September 2019 -0.3%, Last 12 Months -1.8%. USDOL PR link.

The US Federal Reserve Bank of New York says the October 2020 Empire State Manufacturing General Business Conditions Index is at +10.5, September 2020 was at +17.0, August 2020 +3.7, October 2019 +3.3. “… firms remained optimistic that conditions would improve over the next six months, though optimism was somewhat lower than last month.” NYFed PR link.

The US Federal Reserve Bank of Philadelphia says the October 2020 3rd District Manufacturing General Activity Indicator is at +32.3, September 2020 was at +15.0, August 2020 +17.2, October 2019 +6.8. “Most future indexes increased and continue to reflect optimism among firms about growth over the next six months.” PhillyFed PR link.

***Wednesday, October 14

Pilgrim’s Pride(PBR268) agrees to pay $110.5 million fine per agreement with the US Dept of Justice Antitrust Division in respect to its investigation into the sales of broiler chicken products in the US. PR link.

The US Dept of Labor says Preliminary September 2020 US Producer Price Index Total Monthly Final Demand Change is at +0.4%, August 2020 was at +0.3%, July 2020 +0.6%, September 2019 -0.3%. PR link.

***Tuesday, October 13

Apple(PBR4 $AAPL) introduces iPhone 12 Pro and iPhone 12 Pro Max with 5G, features the powerful A14 Bionic, all-new design with Ceramic Shield, pro camera system, LiDAR Scanner, and the biggest Super Retina XDR display ever on an iPhone, starts at $999 and $1,099 respectively, trade in and lease options available, pre-orders available in the US and other countries starting 10/16/20. PR link.

Abbott Labs(PBR99 $ABT) gets US FDA Emergency Use Authorization for its AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT® and Alinity™ platforms, demonstrated 99.56% specificity and 95.00% sensitivity for patients tested 15 days after symptom onset. PR link.

Eli Lilly(PBR140 $LLY) government-sponsored clinical trial that is testing a LLY antibody treatment for Covid-19 has been halted, being reviewed, details not provided. NY Times PR link.

Netflix(PBR158 $NFLX) has removed the option for potential subscribers in the US to test the service with a free trial, introducing new ways to try and attract potential subscribers, including posting some educational content on YouTube for free and other forms of content sampling. The Verge PR link.

Stryker Corp(PBR210 $SYK) has extended its $30.75/share cash tender offer, with an equity value of around $4.0 billion, for all outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI) from 09/30/20 to 10/28/20. PR link.

Bed Bath & Beyond(PBR276 $BBBY) to sell its non-core assets Christmas Tree Shops retail banner, its institutional Linen Holdings business, and a distribution center located in Florence, NJ, for around $250 million. PR link.

Ascena Retail(PBR501 $ASNAQ) to sell the intellectual property, e-commerce business and other assets of its Justice brand to IHL Group in “Stalking Horse” auction bid. PR link.

Laureate Education(PBR703 $LAUR) to transfer control of Fundaempresa, which manages Laureate’s operations in Honduras – Universidad Tecnológica Centroamericana (UNITEC), including the operation of Centro Universitario Tecnológico (CEUTEC), with total student enrollment of around 23,000, to not-for-profit Fundación Nasser, to close in 1H21. PR link.

Allscripts(PBR936 $MDRX) to sell CarePort Health business, which coordinates and transitions patients through different settings of care, to WellSky for $1.35 billion. PR link.

Vista Outdoor(PBR938 $VSTO) completes the Chapter 11 auction bid for certain assets of Remington Outdoor, including ROC’s ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks, for $81.4 million. PR link.

Six Flags(PBR964 $SIX) to reduce its full-time workforce by approximately 240 employees, or 10%, as part of its transformation productivity initiatives. PR link.

The US Dept of Labor says the Preliminary September 2020 Current Average Earnings Per Hour is at $29.47, Average Hours Worked Per Week is at 34.7, Total Average Weekly Earnings are at $1,022.61, August 2020 was at $1,018.97, July 2020 $1,015.51, September 2019 $968.70. PR link.

The US Dept of Labor says the September 2020 US Monthly Consumer Price Index is +0.2%, August 2020 was at +0.4%, July 2020 +0.6%, September 2019 +0.1%, the Last 12 Months is at +1.4%PR link.

CoreLogic says the July 2020 US Housing Mortgages 30 Days or More Delinquent is at +6.6%, June 2020 was at +7.1%, May 2020 +7.3%, July 2019 +3.8%. “Many Americans, particularly millennials, are taking advantage of low rates to either purchase their first home or upgrade their living situations… However, given the unsteadiness of the job market, many homeowners are beginning to feel the compounding pressures of unstable income and debt on personal savings buffers, creating heightened risk of falling behind on their mortgages.” PR link.

***Monday, October 12

Microsoft(PBR17 $MSFT) gets US federal court approval to take control of the large global network Trickbot botnet, run by Russian-speaking criminals, to thwart criminal hackers who might seek to snarl up state and local computer systems used to maintain voter rolls or report on election results.
The Washington Post PR link.

Kroger(PBR22 $KR) launches AI based ChefBot, take photo of 3 items in your refrigerator or pantry, via Twitter tweet the photo, receive back suggested recipes. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit termporarilty pauses all dosing for its COVID-19 vaccine candidate clinical trials due to an unexplained illness in a study participant, being reviewed. PR link.

Walt Disney(PBR49 $DIS) announces strategic reorganization, will focus on developing and producing original content for the Company’s streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization, is response to success of Disney+ streaming service. PR link.

Thermo Fisher Scientific(PBR113 $TMO) introduces two new SARS-CoV-2 antibody tests: the Thermo Scientific OmniPATH COVID-19 Total Antibody ELISA test, which has received the US FDA Emergency Use Authorization, and the Thermo Scientific EliA SARS-CoV-2-Sp1 IgG test, available in Europe and awaiting US FDA Emergency Use Authorizaton. PR link.

Carnival Corp(PBR153 $CCL) is cancelling the remaining cruises for the six total ships operating from PortMiami and Port Canaveral for November 2020, is also cancelling five cruises scheduled to operate from Sydney, Australia from Jan. 16 – Feb. 8, 2021. PR link.

JCPenney(PBR291 $JCPNQ) starts its holiday shopping season with Cyber Days October 12-14, includes several new national brands. PR link.

Twilio(PBR992 $TWLO) to acquire customer engagement platform provider with 20,000 clients Segment for approximately $3.2 billion in Twilio Class A common stock, to close in 4Q20. PR link.

On Sunday, 10/11/20, the NBA’s Los Angeles Lakers win their 17th league championship, led by LeBron James and Anthony Davis, winning over the Miami Heat in their 6th game. LA Lakers PR link.

***Friday, October 9

The PBRMarketTools US Stock Exchanges Recap for Week 41 of 2020 ending 10/09/20:

DJIA ends Week 41 at 28,586.90, +3.27% from last Friday, +2.90% MTD/QTD, +0.17% YTD, -3.26% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 41 at 11,579.94, +4.56% from last Friday, +3.69% MTD/QTD, +29.06% YTD, -3.95% from record 12,056.44 set 09/02/20.

SPX ends Week 41 at 3,477.13, +3.84% from last Friday, +3.39% MTD/QTD, +7.63% YTD, -2.90% from record 3,580.84 set 09/02/20.

The Week 41 of 2020 News Summary: The US General Election is 25 days away, and along with the Coronavirus Pandemic, both are now center stage and affect each other. The Coronavirus Pandemic tallies as of today at 12:23PM Eastern US by the John Hopkins University CSSE unit is now 36,706,213 confirmed cases globally with 1,064,420 deaths, an increase of 39,066 from last Friday, a slight downtick rate from the week before. For the US it’s 7,645,302 confirmed cases and 213,360 deaths, an increase of 4,840, another slight downward trend from last Friday and for several weeks now. The big news was that President Trump, the First Lady, and several White House staff have been diagnosed with the virus, President Trump spent 3 days at Walter Reed Hospital, underwent what are considered to be experimental treatments, and returned to the White House with smile on his face, with praise for the medical staff and treatments, and seemed to have no affect on his observing suggested protocols. It should not be unexpected therefore that the management of the Coronavirus Pandemic has become the primary tool of the Democrats to attack the Republicans for the US General Election to be held 11/03/20. The first US Presidential Debate held on 09/29/20 was contentious and chaotic, very few people felt that it produced any clarity on the issues or changed minds. The US Vice Presidential Debate was certainly more civil, but rather than answer questions directly the candidates focused on their talking points and danced around issues like good well-trained politicians do. Again there was no real constructive solutions or policies mentioned or proposed that would change the minds of very many voters. The complication of President Trump having the virus has put the two remaining US Presidential Debate sessions in jeopardy. We will see how that plays out. Another flashpoint affecting the election is the nomination of highly regarded conservative jurist Amy Coney Barrett to replace the recently deceased beloved articulate liberal Ruth Bader Ginsburg as an Associate Justice on the US Supreme Court. Hearings start next Monday, they are expected to create a lot of dramatics because of the long term effect of decisions from the Court, the controversial speedy process, and there could be some effect on the election. Climate change was one of the unanswered issues as wildfires continue to blaze in the West and another hurricane is set to batter the Gulf Coast. Recent civil unrest as a result of questionable deadly actions by a few law enforcement officials are also one of the playing cards being used by both sides. Currently most polls suggest former Vice President Biden has a lead at this point, but it should be remembered that in 2016 then presidential candidate Trump trailed at this point in time as well. The 25 days will be an interesting ride, don’t forget to carefully read all your social media posts, answer all calls from unknown numbers, and look at the beautiful and ugly pictures of candidates that will fill your mailbox. In international news not much appears to have happened, especially with US/China relations, other than the monthly US trade report showing a dramatic increase in the trade deficit. This takes us to the US economy which continues to show a V shaped recovery, except that the slope of the right side of the V is stretching out more than we all would like. Jobless claims were down a bit again, job openings took a slight dip, manufacturing data was up somewhat, housing numbers look good but there are concerns about sustainability, and wholesale trade is closing in on numbers from a year ago. The Federal Open Market Committee released the minutes from their September meeting and some of presidents of the Federal Reserve Banks gave talks strongly suggesting that there needs to be a new stimulus program from Congress. Talks are on and off, with the Democrats wanting a full stimulus response bill, the Republicans looking for more of a series of piecemeal solutions. There is a lot of posturing and power playing going on to increase the entertainment value of US politics. Of course the US stock markets have their own life, occasionally paying attention to political and economic news. The Stock Market Bull charged out onto the pasture on Monday, but was greatly distracted on Tuesday when President Trump announced that stimulus talks would cease until after the election. The Stock Market Bear took advantage and stocks, especially those in high tech, stumbled broadly. No big damage was done as a result of the Vice Presidential Debate and President Trump relented on his stimulus statement, so The Stock Market Bull returned on Wednesday and viciously stomped on The Stock Market Bear over the remaining three days. Week 41 became one of the best of the year for him. A pandemic, contentious elections, game playing politicians, nervousness about potentially more polarizing civil unrest, an apparent rudderless economy, crazy weather and wildfires, volatile stock markets, it’s all part of living The Great American Dream. Pardon me while I go bury my head in the sand for a few hours!

The Week 41 of 2020 tally YTD is:
The Stock Market Bull: 20 weeks
The Stock Market Bear: 16 weeks
Mixed Results: 5 weeks

Alcoa(PBR297 $AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees, smelter has 228,000 metric tons of annual capacity. PR link.

Fortive(PBR405 $FTV) completes spin-off Industrial Technologies segment, now called Vontier, as a separate public company, trading ast NYSE: VNT. PR link.

Celanese(PBR455 $CE) completes $1.575 billion sale of its 45% equity investment in the Polyplastics joint venture to Daicel Corp. PR link.

The US Dept of Commerce/Census says the Preliminary August 2020 US Wholesale Sales-Durables is at $238.2 billion, Non-Durables $248.4 billion, Total $486.6 billion, July 2020 was at $479.9 billion, June 2020 $458.1 billion, August 2019 $497.9 billion. USDOC PR link.

***Thursday, October 8

Alphabet(PBR11 $GOOG)’s Waymo unit announces opening of its fully driverless service to the general public in Phoenix. PR link.

Kroger(PBR22 $KR) launches two on-premise kitchens, respectively at stores in Metro Indianapolis, IN and Metro Columbus, OH, developed in partnership with ClusterTruck, a technology start-up that operates delivery-only restaurants, the kitchens will provide a variety of freshly prepared meals on-demand with no service or delivery fees. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit gets European Commission approval to provide 200 million doses of its COVID-19 vaccine candidate to EU Member States following approval or authorization from regulators, EU Member States also have the option to secure up to 200 million additional doses. PR link.

Target(PBR36 $TGT) announces an exclusive 70-piece toy collection with FAO Schwarz and largest list of its Bullseye’s Top ToysPR link.

IBM(PBR38 $IBM) will focus on its open hybrid cloud platform, which represents a $1 trillion market opportunity, will separate its Managed Infrastructure Services unit of its Global Technology Services division into a new public company, spin-off to close by end of 2021. PR link.

Morgan Stanley(PBR59 $MS) will acquire Eaton Vance(PBR947 $EV), a leading provider of advanced investment strategies and wealth management solutions with over $500 billion in assets under management (AUM), for $56.50/share, 50% in cash 50% in stock, for an equity value of approximately $7 billion, to close in 2Q21. PR link.

Gilead Sciences(PBR134 $GILD) gets procurement deal with the European Commission for its Veklury® (remdesivir), the first antiviral drug proven to be effective for the treatment of COVID-19 in the European Union (EU), Gilead is on track to produce more than 2 million treatment courses of Veklury this year. PR link.

Eli Lilly(PBR139 $LLY) and the Bill & Melinda Gates Foundation, as part of the COVID-19 Therapeutics Accelerator, agree to facilitate access to future Lilly therapeutic antibodies under development for the prevention and treatment of COVID-19, to benefit low- and middle-income countries. PR link.

Carnival Corp(PBR153 $CCL) announces reservations are now open for Carnival Celebration, Carnival Cruise Line’s newest ship set to debut in November 2022 as part of the company’s 50th birthday. PR link.

Dick’s Sporting Goods(PBR350 $DKS) will hire up to 9,000 associates for the 2020 holiday season, third-annual “National Signing Day” set for 10/14/20. PR link.

AMD(PBR433 $AMD) launches AMD Ryzen 5000 Series Desktop Processors: The Fastest Gaming CPUs in the World. PR link.

GameStop(PBR450 $GME) in multi-year agreement with Microsoft(PBR17 $MSFT) will standardize its back-end and in-store solutions on Dynamics 365, Microsoft’s portfolio of cloud-based business applications and customer data platform, will enable store associates the ability to access omni-channel insights about customer preferences and purchasing history, real time information on product availability, subscriptions, pricing, and promotions. PR link.

AMC Entertainment(PBR503 $AMC) to have 520+ of its 600 locations open by mid-October. PR link.

Tempur Sealy(PBR728 $TPX) is reacquiring the rights and acquiring the assets to manufacture, market, and distribute Sealy and Stearns & Foster branded products in the UK from its current licensee in 50/50 joint venture with its Asian partners. PR link.

***Wednesday, October 7

Citigroup(PBR32 $C) fined $400 million by regulators, agrees to fix ‘longstanding deficiencies,’ including its risk management, data governance and internal controls across the company. Reuters PR link.

Lowe’s(PBR44 $LOW) to distribute another $100 million in discretionary bonuses to US hourly employees in mid-October; full-time associates will receive $300 and part-time and seasonal associates will receive $150, brings the company’s total commitment to associates and communities during the pandemic to more than $775 million. PR link.

Broadcom(PBR132 $AVGO) in agreement with the European Union agrees to suspend all existing agreements containing exclusivity or quasi-exclusivity arrangements and/or leveraging provisions concerning Systems-on-a-Chip (“SoCs”) for TV set-top boxes and Internet modems, and has committed not to enter into new agreements comprising such terms. PR link.

Clorox(PBR435 $CLX) has developed an experimental device to help detect an uptick in illness indicators, including fevers, coughs and sneezes, initial effort is towards classrooms in education settings. PR link.

Coty(PBR562 $COTY) expands Kylie Skin brand in the UK, France, Germany and Australia. PR link.

The US Federal Reserve releases the Minutes of the Federal Open Market Committee Meeting of 09/15-16/20. “The staff continued to observe that the uncertainty related to the course of the COVID‑19 pandemic and its associated economic effects was extremely elevated and that the risks to the outlook were still tilted to the downside. Given the apparent resilience of the U.S. economy to the acceleration in the spread of the pandemic during the summer, the staff judged that a significantly more pessimistic economic outcome, which the staff had previously viewed as no less plausible than the baseline forecast and had featured a renewed downturn in economic activity, was now less likely than the baseline forecast.” FOMC PR link.

The US Federal Reserve says the Preliminary August 2020 Consumer Credit Outstanding-Revolving is at $985.3 billion, Non-Revolving $3,159.4 billion, Total $4,144.6 billion, July 2020 was at $4,151.9 billion, June 2020 $4,137.3 billion, August 2019 $4,136.8 billion. USFed PR link.

The FannieMae September 2020 US Home Purchase Sentiment Index is at 81.0, August 2020 was at 77.5, July 2020 74.2, September 2019 91.5. “Going forward, we believe the wild card to be whether enough sellers enter the market to continue to meet the strong homebuying demand. The home purchase market requires the proper mix of home price growth and continued economic recovery to achieve sustainable levels of housing activity.” FannieMae PR link.

***Tuesday, October 6

GE(PBR33 $GE) receives a “Wells notice” from the US SEC regarding issues that relate to the historical premium deficiency testing for GE Capital’s run-off insurance operations, as well as GE’s disclosures relating to such run-off insurance operations; GE disagrees, will respond. PR link.

Boeing(PBR40 $BA) releases annual forecast for the commercial and defense aerospace market, says total market is $8.5 trillion over next 10 years, down from last years’ $8.7 trillion, short term effects from COVID-19 pandemic, but sees long term recovery. PR link.

Cisco(PBR62 CSCO) is ordered to pay up to $3.3 billion in damages in a patent infringement case filed by security softward company Centripetal Networks, involves 4 patents, fine is $1.9 billion plus royalty payments, Cisco plans to appeal. Barron’s PR link.

Carnival Corp(PBR153 $CCL)’s Seabourn ultra-luxury resort at sea sailings cancelled for 3 cruise ships into Spring 2021, offers guests 125% Future Cruise Credit or full refund. PR link.

Lithia Motors(PBR245 $LAD) acquires Latham Ford in Albany, NY, will add $55 million in annual revenues. PR link.

Group 1 Automotive(PBR254 $GPI) authorizes new $200 million share repurchase program, will resume providing quarterly dividends. PR link.

Charles Schwab(PBR290 $SCHW) completes around $26 billion all stock acquisition of TD Ameritrade(PBR471 $AMTD), combined company has about $6 trillion in client assets across 28 million brokerage accounts. PR link.

Williams-Sonoma(PBR473 $WSM) to close US stores on Thanksgiving Day. PR link.

Skechers(PBR523 $SKX) says footwear donations have exceeded 16 million over nearly a decade, recent donations have gone to victims of California & Oregon wildfires, Hurricane Laura in Louisiana, and the Beirut, Lebanon, port explosion. PR link.

Alexion Pharmaceutical(PBR536 $ALXN) says it expects to return around $3 billion to shareholders through 2023 with share repurchase program. PR link.

Hologic(PBR683 $HOLX) gets amended Emergency Use Authorization from the US FDA to use its Aptima® SARS-CoV-2 assay for testing of individuals without symptoms or other reasons to suspect COVID-19 infection. PR link.

Steris(PBR742 $STE) to acquire global consumable products serving hospitals and surgical facilities provider Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC, for $850 million, Key Surgical doing around $170 million in revenues with adjusted EBIT of $50 million in 2020. PR link.

GoPro(PBR990 $GPRO) strong HERO9 Black sales accelerate GoPro subscriber count past 500,000, target is 600,000 to 700,000 paid subscribers by year-end. PR link.

The US Dept of Labor says the Preliminary August 2020 Job Openings-Private are at 5,637,000, Government 857,000, Total 6,494,000, July 2020 was at 6,697,000, June 2020 6,001,000, August 2019 7,167,000. USDOL PR link.

The US Dept of Commerce/Census says the Preliminary August 2020 US Exports-Goods are at $119.1 billion, Services $52.8 billion, Total Exports $171.9 billion; August 2020 US Imports-Goods are at $203.0 billion, Services $36.1 billion, Total Imports $239.1; August 2020 Deficit is at $67.2 billion; Total Imports YTD(8 months) is at $1,390.4 billion, Total Exports YTD $1,812.3 billion, Total Deficit YTD $421.9 billion, Total Deficit YTD 2019 was at $399.0. USDOC PR link.

The PurdueU/CME Group September 2020 US Ag Economy Barometer Composite Index is at 156, August 2020 was at 144, July 2020 118, September 2019 121. “The improvement in the barometer and its two primary sub-indices occurred against the backdrop of USDA’s September 18th nnouncement of the second round of Coronavirus Food Assistance Program (CFAP 2) payments for U.S. agricultural producers.” PurdueU/CME Group PR link.

***Monday, October 5

ExxonMobil(PBR3 $XOM) per extensive global review anticipates that up to 1,600 positions would be impacted by the end of 2021 across the company’s affiliates in Europe to improve cost competitiveness. PR link.

Chevron(PBR16 $CVX) completes its $10.38/share, around $5 billion acquisition of Noble Energy(PBR590 $NBL)PR link.

Facebook(PBR47 $FB) responds to a Netflix(PBR158 $NFLX) documentary with a 7 point response called “What ‘The Social Dilemma’ Gets Wrong.” PR link.

Caterpillar(PBR60 $CAT) to acquire the Oil & Gas Division (“Weir Oil & Gas”) of the Weir Group PLC, a Scotland-based global engineering business, for $405 million cash, includes more than 40 Weir Oil & Gas manufacturing and services locations and approximately 2,000 employees. PR link.

3M(PBR98 $MMM) expands actions globally to fight COVID fraud, counterfeiting and price-gouging, says it has not, and will not, increase the prices of its respirators as a result of the pandemic. PR link.

Bristol-Myers Squibb(PBR108 $BMY) to acquire MyoKardia(Nasdaq: $MYOK), a clinical-stage biopharmaceutical company discovering and developing targeted therapies for the treatment of serious cardiovascular diseases, for $13.1 billion, or $225.00 per share in cash, to close in 4Q20. PR link.

NVIDIA(PBR285 $NVDA) and GlaxoSmithKline Pharmaceutical‘s AI lab in London to partner for discovery of medicines and vaccines. PR link.

Targa Resources(PBR352 $TRGP) authorizes up to $500 share repurchase program. PR link.

Norwegian Cruise Lines(PBR451 $NCLH) extends suspension of all cruises with embarkation dates from 11/01/02 through 11/30/20. PR link.

KBR(PBR485 $KBR) completes the around $800 million cash acquisition of 1,750+ employees 22 offices across the US Chantilly, VA-based Centauri, a leading independent provider of high-end space, directed energy and other advanced technology solutions, from private equity firm Arlington CapitalPR link.

The Institute for Supply Management says the September 2020 US Services PMI Index(>50% is expanding) is at 57.8%, August 2020 56.9%, July 2020 58.1%, September 2019 52.6%. “Respondents’ comments remain mostly optimistic about business conditions and the economy, which correlates directly to those businesses that are operating. There continues to be capacity and logistics issues, as business volumes have increased… ” ISM PR link.

IHS Markit says the September 2020 US Composite PMI Output Index is at 54.3, August 2020 was at 54.6, July 2020 50.3, September 2019 51.0. “Sentiment on prospects for the coming year darkened significantly, however, linked to growing worries about virus numbers, uncertainty regarding the presidential election and fears that the economy is susceptible to weakening unless more support measures are put in place soon.” ISM PR link.

***Friday, October 2

The PBRMarketTools US Stock Exchanges Recap for Week 40 of 2020 ending 10/02/20:

DJIA ends Week 40 at 27,682.81, +1.87% from last Friday, -0.36% MTD/QTD, -3.00% YTD, -6.32% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 40 at 11,075.02, +1.48% from last Friday, -0.83% MTD/QTD, +23.43% YTD, -8.14% from record 12,056.44 set 09/02/20.

SPX ends Week 40 at 3,348.42, +1.51% from last Friday, -0.43% MTD/QTD, +3.64% YTD, -6.49% from record 3,580.84 set 09/02/20.

The Week 40 of 2020 News Summary: There was a lot of news in Week 40 with most items continuing to have undertones of the Coronavirus Pandemic. The Coronavirus Pandemic tallies as of today at 02:23PM Eastern US by the John Hopkins University CSSE unit is now 34,450,697 confirmed cases globally with 1,025,354 deaths, an increase of 39,563 from last Friday, a slight uptick rate from the week before. For the US it’s 7,320,006 confirmed cases and 208,520 deaths, an increase of 4,949, and another slight downward trend from last Friday. There continues to be general optimism that approved vaccines and more accurate, faster and inexpensive tests will become available by the end of the year or early 2021. The handling of the Coronavirus Pandemic was a major issue at the first 2020 US Presidential Debate on Tuesday, with the big news being that both President Trump and 1st Lady Melania both tested positive for the virus Thursday evening, apparently caught from a high level campaign adviser, and they are both showing mild symptoms at this time. In international news the US and China are nowhere closer to a trade deal. The Oracle/Microsoft having a major interest in owning and operating the US version of the popular China based TikTok online app still has to be resolved, the handling, access to data and its security are the major concerns. The US economy still shows signs of recovery but apparently at a slowing rate, is considered out of recession, the 2Q20 Gross Domestic Product estimate was revised down a touch, initial jobless claims and change in employment numbers were good but not great as the unemployment rate dropped to 7.9%, spending was up a tick, as was construction spending. Major airlines are laying off or furloughing tens of thousands, balanced by retail chains announcing tens of thousands of hiring of seasonal workers for the upcoming holiday season. Wildfires continue to rage in the West, with no clear end in sight, and will have some economic impact. Sports at the pro level is being played in very different conditions, the Tampa Bay Lightning won the coveted Stanley Cup, some football games are being rescheduled as a result of positive COVID-19 tests on some teams. College sports, especially football and basketball, are still gearing up to start playing across the US. Conservative constitutional originalist leaning Amy Coney Barrett started being introduced to US Senate leaders as she starts the accelerated confirmation process to become a Supreme Court justice, to replace the liberal leaning Ruth Bader Ginsburg who passed away last week. Some civil unrest continued due to recent deaths of black people at the hands of police, with the most recent development being the rare release of grand jury testimony in the Breonna Taylor accidental shooting death by law enforcement officials. The biggest news item of the week was the first 2020 US Presidential Election Debate between President Trump and former Vice President Joe Biden. It was a very contentious and chaotic event, resulting in not much clarification of views and actions the candidates plan to take. Next week Vice President Mike Pence and Vice President candidate Kamala Harris will have their opportunity, hopefully with a lot less stress for viewers and listeners and with more clarity provided. For the major US stock exchanges The Stock Market Bull had a clear advantage for the week, especially after losing September big time, but on Friday The Stock Market Bear had his opportunity with the news of President Trump testing positive for COVID-19. It was not nearly enough to make up for the previous days, but sets an uncertain stage for next week. The Stock Market Bull prevails in Week 40 with a 3-0 win, and continues to lead the weekly tally year-to-date. Stay well, calm, cool and collected as next week unfolds with more potentially nerve-wracking news.

The Week 40 of 2020 tally YTD is:
The Stock Market Bull: 19 weeks
The Stock Market Bear: 16 weeks
Mixed Results: 5 weeks

Walmart(PBR1 $WMT) is selling a majority interest in its UK Asda business to Issa brothers, founders and co-CEOs of UK based EG Group, global convenience and forecourts retailers with over 6,000 locations, and UK based private equity firm TDR Capital, for around $8.7 billion, to close in 1H21. PR link.

Bristol-Myers Squibb(PBR108 $BMY) gets US FDA approval for Opdivo® (nivolumab) + Yervoy® (ipilimumab) as the first and only immunotherapy treatment for previously untreated unresectable malignant pleural mesothelioma. PR link.

Tesla(PBR118 $TSLA) says in 3Q20 it produced 16,992 Model S/X, 128,044 Model 3/Y vehicles, for total production of 145,036 Teslas, 3Q20 financials to be released later. PR link.

Uber(PBR224 $UBER) gets $500 million investment in Uber Freight, the logistics arm of Uber, from an investor group led by Greenbriar, valuing the unit at $3.3 billion with Uber maintaining majority ownership in Uber Freight. PR link.

LabCorp(PBR262 $LH) is the first commercial laboratory to receive an Emergency Use Authorization (EUA) from the US FDA for a new, high-throughput method that uses heat and technology to extract RNA from samples collected for COVID-19 molecular testing. PR link.

Noble Energy(PBR590 $NBL) shareholders approve $10.38/share, around $5 billion acquisition by Chevron(PBR15), to close in early 4Q20. PR link.

E*Trade(PBR770) around $13 billion all stock acquisition by Morgan Stanley(PBR60) is completed, will operate as a separate unit in Morgan Stanley, retain the E*Trade name. PR link.

Express(PBR895 $EXPR) gets notice of non-compliance by the NYSE, stock price must be at least $1.00 over last month, has 6 months to correct, Express says it plans to be in compliance, is considering possible reverse stock split and other strategies. PR link.

The US Dept of Labor says the September 2020 US Employed Workforce is at 147,563,000, August 2020 was at 147,288,000, July 2020 143,532,000, September 2019 158,298,000; September 2020 Unemployment Rate is at 7.9%, August 2020 was at 8.4%, July 2020 10.2%, September 2019 3.5%. More details on Table A-1USDOL PR link.

The US Dept of Commerce/Census says the Preliminary August 2020 US Manufacturing New Orders-Durables is at $233.2 billion, Non-Durables $236.9 billion, Total $470.1 billion, July 2020 was at $466.9 billion, June 2020 $438.3 billion, August 2019 $499.6 billion. USDOC PR link.

The U of Michigan Final September 2020 US Consumer Sentiment Index is at 80.4, August 2020 was at 74.1, July 2020 72.5, September 2019 93.2. “… the data indicate that lower income households face continued income and job losses compared with the modest gains expected by upper income households. Without a renewed federal stimulus and enhanced unemployment payments, the income gap will widen. The economy will benefit from the increasing pace of spending among households with incomes in the top third.” UMichigan PR link.

***Thursday, October 1

Amazon(PBR2 $AMZN) provides COVID-19 update, has done 1,372,000 tests of frontline employees from 03/01/20 to 09/19/20, 19,816 had positive results or been presumed positive, 42% lower than expected number. PR link.

Alphabet(PBR11 $GOOG)’s Google unit making an initial $1 billion investment in partnerships with news publishers, has signed nearly 200 leading publications across Germany, Brazil, Argentina, Canada, the U.K. and Australia. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen Pharmaceuticals unit completes $6.5 billion cash acquisition of Momenta Pharmaceuticals, discovers and develops novel therapies for immune-mediated diseases. PR link.

Boeing(PBR40 $BA) to consolidate production of 787 jets at its facility in North Charleston, SC, starting in mid-2021, per impact of COVID-19. PR link.

Gilead Sciences(PBR134 $GILD) is making significant investments to increase internal manufacturing capacity, expand contract manufacturing network and implement process improvements of investigational antiviral drug Veklury® (remdesivir), is taking over US distribution from the US government on 10/01/20. PR link.

Occidental Petroleum(PBR149 $OXY) to sell its onshore assets in Columbia to The Carlyle Group(PBR681) for $825 million, to close in 4Q20. PR link.

JetBlue(PBR376 $JBLU) to get $1.14 billion in loans until 03/26/21 from the US Treasury as part of the CARES Act, has made a draw of $115 million, issued warrants at $9.50 for the US Treasury. PR link.

Devon Energy(PBR458 $DVN) completes its up to $850 million sale of its Barnett Shale unit to Banpu Kalnin Ventures. PR link.

ServiceMaster(PBR886 $SERV) completes sale of franchise business segment for $1.553 billion, ServiceMaster Global Holdings changes name to Terminix Global Holdings, to begin trading under NYSE ticker ‘TMX’ effective 10/05/20, authorizes 3 year $400 million share repurchase program. PR link.

Ford(PBR12 $F) new President/CEO is Jim Farley, succeeds Jim Hackett, is 11th CEO in 117 year history. PR link.

Verso Corp(PBR830 $VRS) President/CEO Adam St John has resigned from his roles and the Board effective 09/30/20, Board member Randy Nebel named to also be Interim President/CEO during search. PR link.

The US Dept of Commerce/BEA says the Preliminary August 2020 US Personal Income Annual Rate is at $19.493 trillion, July 2020 was at $20.036 trillion, June 2020 $19.944 trillion, August 2019 $18.688 trillion; August 2020 Personal Savings is at $2.435 trillion, July 2020 was at $3.158 trillion, June 2020 $3.322 trillion, August 2019 $1.272 trillion. USDOC PR link. 

The US Dept of Commerce/Census says the Preliminary August 2020 US All Construction Spending Annual Rate-Residential is at $598.6 billion, Non-Residential $814.3 billion, Total $1,412.8 billion, July 2020 was at $1,392.7 billion, June 2020 $1,383.6 billion, August 2019 $1,379.0 billion. USDOC PR link. 

The Institute for Supply Management says the September 2020 US Manufacturing PMI Index(>50% is expanding) is at 55.4%, August 2020 was at 56.0%, July 2020 54.2%, September 2019 47.8%. “Manufacturing performed well in the month with demand, consumption and inputs registering growth indicative of a normal expansion cycle. While certain industry sectors are experiencing difficulties that will continue in the near term, the manufacturing community as a whole has learned to conduct business effectively and deal with the variables imposed by the COVID-19 pandemic.” ISM PR link. 

IHS Markit says the September 2020 US Manufacturing PMI Index is at 53.2, August 2020 was at 53.1, July 2020 50.9, September 2019 51.1. “Although firms remained optimistic regarding the outlook for output over the coming year on balance, positive sentiment was weighed down by uncertainty towards the ongoing pandemic and the upcoming election.” ISM PR link. 

***Wednesday, September 30

The PBRMarketTools US Stock Exchanges Recap for September 2020 ending 09/30/20:

DJIA ends September at 27,781.70, +2.24% from last Friday, -2.28% MTD, +7.63% QTD, -2.65% YTD, -5.99% from record 29,551.42 set 02/12/20.

NASDAQ ends September at 11,167.51, +2.33% from last Friday, -5.16% MTD, +11.02% QTD, +24.46% YTD, -7.37% from record 12,056.44 set 09/02/20.

SPX ends September at 3,363.00, +1.96% from last Friday, -3.92% MTD, +8.47% QTD, +4.09% YTD, -6.08% from record 3,580.84 set 09/02/20.

The September 2020 tally YTD is:
The Stock Market Bull: 5 months
The Stock Market Bear: 3 months
Mixed Results: 1 month

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