The Week 23 of 2021 US Stock Market and News Recap

The Week 23 of 2021 US Stock Market and News Recap

stocks stock market bull bear PBR1000

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 PBR1000 Summary: Builders FirstSource(NASDAQ: BLDR)

The PBR1000 Summary:

Builders FirstSource(NASDAQ: BLDR)

BLDR Builders FirstSource PBR1000

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The PBR1000 Summary:

Builders FirstSource(NASDAQ: BLDR)

Business Description: “Builders FirstSource is the largest U.S supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers with an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products.”

Business Name: Builders FirstSource, Inc
Ticker: NASDAQ: BLDR
Fiscal Year Ending Month: December

BLDR Stock Price and Analyst Estimates on 09/20/21:

  • Stock Price: $52.02
  • Average 12 Month Stock Price Target: $67.86
  • Estimated 12 Month Change: +30.45%
  • Analysts Recommendation: Buy, 4.92/5.00, based on 13 estimates

Some of the 28 Current The PBR1000 Rankings for BLDR on 09/20/21:

  • 335 By Annual Revenues: $8.599 billion(12/31/20)
  • 514 By Market Capitalization: $11.04 billion(08/31/21)
  • 751 By Assets: $4.174 billion(12/31/20)
  • 292 By Employees: 26,000(12/31/20)

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Since 2013 PBRMarketTools.com has been providing 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.

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The PBR1000 Summary: Baker Hughes(NYSE: BKR)

The PBR1000 Summary: Baker Hughes(NYSE: BKR)

BKR BakerHughes PBR1000

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The PBR1000 Summary: Baker Hughes(NYSE: BKR)

Business Description: “Baker Hughes is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet.”

Business Name: Baker Hughes Corporation
Ticker: NYSE: BKR
Fiscal Year Ending Month: December

Stock Price and Analyst Estimates for BKR on 08/06/21:

  • Stock Price: $21.19
  • Average 12 Month Stock Price Target: $27.63
  • Estimated 12 Month Change: +30.39%
  • Analysts Recommendation: Buy, 4.59/5.00, based on 27 estimates

Some of the 28 Current The PBR1000 Rankings for BKR as of 08/06/21:

  • 134 By Annual Revenues: $20.705 billion(12/31/20)
  • 341 By Market Capitalization: $22.14 billion(07/30/21)
  • 203 By Assets: $38.007 billion(12/31/20)
  • 149 By Employees: 55,000(12/31/20)

To get the complete profile for BKR and for all 1,000 of The PBR1000 click here!

On July 30, 2021, BKR was on The PBR25 Top Buy Stocks. To find out who else is click here!

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.

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Through The PBR1000 US Public Companies Analytics!

Disclaimers: The PBR1000 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. PBRMarketTools.com research should not be regarded as recommendations or advice. PBRMarketTools.com is not a financial advisory or stock brokerage firm and has no affiliation with such organizations.

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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 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 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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The PBR1000 Summary: Altice USA(NYSE: ATUS)

The PBR1000 Summary: Altice USA(NYSE: ATUS)

ATUS Altice PBR1000

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

The PBR1000 Summary: Altice USA(NYSE: ATUS)

Business Description: “Altice USA is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, proprietary content and advertising services to approximately 4.9 million Residential and Business customers across 21 states through its Optimum and Suddenlink brands.”

Business Name: Altice USA, Inc
Ticker: NYSE: ATUS
Fiscal Year Ending Month: December
Stock Price(11/20/20): $32.27
Analyst Estimates(11/20/20): $35.50 12 Month Target Median, +10.01% Estimated 12 Month Change, Buy Recommendation, 4.69/5.00, based on 26 Estimates.

Some of the 28 Current The PBR1000 Rankings for ATUS:

#316 By Annual Revenues: $9.761 billion(12/31/19)
#335 By Market Capitalization: $15.26 billion(10/30/20)
#207 By Assets: $34.108 billion(12/31/19)
#576 By Employees: 10,700(12/31/19)

To get the complete profile for ATUS and for all 1,000 of The PBR1000 click here!

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 PBR1000 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. It is not a financial advisory or stock brokerage firm and has no affiliation with such organizations.

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The PBR1000 Summary: Deckers Outdoor(NYSE: DECK)

The PBR1000 Summary: Deckers Outdoor(NYSE: DECK)

DECK Deckers Outdoor PBR1000

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The PBR1000 Summary: Deckers Outdoor(NYSE: DECK)

Business Description: “Deckers Brands is a global leader in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The Company’s portfolio of brands includes UGG®, KOOLABURRA®, HOKA ONE ONE®, Teva®, and Sanuk®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has a 40-year history of building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally.”

Business Name: Deckers Outdoor Corporation
Ticker: NYSE: DECK
Fiscal Year Ending Month: March
Stock Price and Analyst Estimates(11/27/20):

  • Stock Price: $260.17
  • Average 12 Month Stock Price Target: $304.00
  • Estimated 12 Month Change: +16.85%
  • Analysts Recommendation: Buy, 4.80/5.00, based on 15 estimates

Some of the 28 Current The PBR1000 Rankings for DECK:

#879 By Annual Revenues: $2.133 billion(03/31/20)
#501 By Market Capitalization: $7.22 billion(10/30/20)
#934 By Assets: $1.765 billion(03/31/20)
#864 By Employees: 3,600(03/31/20)

To get the complete profile for DECK and for all 1,000 of The PBR1000 click here!

Since 2013 PBRMarketTools.com has been providing 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 PBR1000 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. It is not a financial advisory or stock brokerage firm and has no affiliation with such organizations.

This The PBR1000 Summary is provided by: 

Copyright © 2020 by Pax Business Resources, LLC, All Rights Reserved. 

TK27