The 2016 Race for the US Presidency Has Started.
What Promises for Economic and Business Growth Can We Expect?
By Larry C. Paxton
Activity in The PBR1000 companies during April 2015 was a bit like the start of the 2016 race for the US presidency. There was some activity, like Hillary Clinton announcing her bid and then the quiet followup with her initial road trip. On the business side perhaps Apple(PBR4) came the closest by announcing the Apple Watch and accepting initial orders. The falling apart of the Comcast(PBR44)/Time Warner Cable(PBR125) merger provided some excitement and the Mylan(PBR36) dance with Perrigo(PBR564) and Israel based Teva Pharmaceuticals has provided some entertainment, too.
Following are The PBR1000 and economic news items of note for April 2015 starting with the last active day.
Thursday, April 30:
The PBR1000 Monthly US Stock Exchanges Snapshot:
DJIA closes month at 17,840.52, -1.33% from last Friday, +0.36% MTD/QTD, +0.10% YTD.
NASDAQ closes month at 4,941.42, -2.96% from last Friday, +0.83% MTD/QTD, +4.34% YTD.
SPX closes month at 2,085.51, -1.52% from last Friday, +0.85% MTD/QTD, +1.29% YTD.
AmerisourceBergen(PBR16) authorizes $1 billion shares buyback program. $ABC PR link.
Boulevard Acquisition(NASDAQ: BLVD) to acquire AgroFresh business from Dow Chemical(PBR48) for $810 million, make it a public company. $BLVD PR link.
Harley-Davidson(PBR417) to begin direct distribution to Canadian independent dealers in August per agreement with current exclusive distributor. $HOG PR link.
NII Holdings(PBR495) completes $1.875 billion sale of its Nextel Mexico operations to AT&T(PBR12). $NIHDQ PR link.
Crown Castle(PBR670) to acquire Quanta Services(NYSE: PWR) subsidiary fiber networks provider Sunesys for $1.0 billion cash. $CCI PR link.
Tesla(PBR887) CEO Elon Musk announces new Tesla battery energy storage emphasis for homes & businesses. $TSLAI PR link.
Sears Holdings(PBR82) & Macerich(PBR1090) create 50/50 joint venture Involving 9 Sears properties located at Macerich malls. $MAC PR link.
Discover Financial(PBR281) promotes Julie Loeger to SVP, Chief Marketing Officer for US Cards, reports to president/COO. $DFS PR link.
Booz Allen Hamilton(PBR437) promotes VP Gary Voellger to Chief Ethics & Compliance Officer, reports to President/CEO Horacio Rozanski. $BAH PR link.
Analog Devices(PBR738) promotes John Hassett to SVP Worldwide Manufacturing, reports to President/CEO Vincent Roche. $ADI PR link.
The US Dept of Commerce reports that March Personal Income & Personal Disposable Income was up less than 0.1% over February. USDOC PR link.
FreddieMac(PBR33) says homeowners who refinanced through the HARP program in 1Q15 are saving $290/mo on a $200,000 loan in the first year. $FMCC PR link.
FreddieMac(PBR33) says the Average 30 Year Fixed Mortgage Rate at 3.68% with 0.6 fees/points. $FMCC PR link.
Wednesday, April 29:
Express Scripts(PBR21) announces $5.5 billion accelerated shares repurchase transaction. $ESRX PR link.
Ashland(PBR404) completes $1.35 billion shares buyback program, authorizes a new $1 billion program to expire 12/31/17. $ASH PR link.
Perrigo(PBR564) rejects Mylan(PBR360) $75/share plus 2.3 Mylan shares offer, says still effectively below 1st offer. $PRGO PR link.
Israeli based Teva Pharmaceuticals(NYSE: TESA) sends letter to Mylan(PBR360) board justifying its $82/share, $43 billion offer. $TEVA PR link.
Mylan(PBR360) sends 3rd acquisition offer to Perrigo(PBR564), $75/share plus 2.3 Mylan shares, effective $232.23/share. $MYL PR link.
ITT Educational(PBR1078) CFO Dan Fitzpatrick retiring 10/29/15; 2015 enrollment at 51,201. $ESI PR link.
Kellogg Co(PBR188) promotes Paul Norman to President, North America, reports to Chairman/CEO John Bryant. $K PR link.
GrafTech(PBR1056) CFO Erick Asmussen leaving, VP Finance/Treasurer Quinn Coburn to also be Interim CFO. $GTI PR link.
The US Dept of Commerce reports that the 1Q15 Gross Domestic Product was at 0.2% annual rate, $17.71T, down from 4Q14 2.2%. GDP PR link.
The US Federal Reserve System Open Market Committee issues its latest statement on the US economy, no set timeframe to up interest rates from 0%, long term goal is 2%. FOMC PR link.
Tuesday, April 28:
Tyson Foods(PBR80) to eliminate human antibiotics from broiler chicken flocks by 2017. $TSN PR link.
T-Mobile US(PBR115) has 1.8 million net wireless subscriber adds during 1st quarter 2015, 8th consecutive quarter over 1 million. $TMUS PR link.
MasterCard(PBR310) to acquire cloud-based analytics provider Applied Predictive Technologies for $600 million. $MA PR link.
HRG Group(PBR412) completes $1.4 billion sale of Armored AutoGroup to subsidiary Spectrum Brands(PBR529). $HRG PR link.
Iron Mountain(PBR666) to acquire Australian based digital/physical document information management firm Recall Holdings for $2 billion. $IRM PR link.
UPS(PBR50) promotes Corporate Controller/Treasurer Richard Peretz to CFO, effective 07/01/15, succeeds retiring Kurt Kuehn. $UPS PR link.
Anadarko Petroleum(PBR193) promotes Darrell Hollek to EVP, US Onshore Production & Exploration, reports to Chairman/President/CEO Al Walker. $APC PR link.
JCPenney(PBR228) board member Mary Beth West joins as EVP, Chief Customer & Marketing Officer. $JCP PR link.
Apollo Education Group(PBR668) SVP/CFO Brian Swartz resigning effective 05/15/15, Joseph D’Amico named Interim CFO. $APOL PR link.
Endo International(PBR741) hires Matthew Maletta as EVP/Chief Legal Officer, effective 05/04/15, succeeds retiring Caroline Manogue. $ENDP PR link.
The US Dept of Commerce reports that the US Homeownership Rate for 1st quarter 2015 was at 63.7%, -1.1% from 1st quarter 2014, -0.3% from 4th quarter 2014. USDOC PR link.
Monday, April 27:
Freddie Mac(PBR33) reaches the $100 billion milestone in multifamily K-Deal securitizations. $FMCC PR link.
ESPN goes to court to force Verizon(PBR15) to change pay-TV offering The Street article link.
Applied Materials(PBR335) & Tokyo Electron terminate $29 billion merger agreement per US Dept of Justice requirements. $AMAT PR link.
Applied Materials(PBR335) authorizes $3 billion 3 year shares buyback program to start in the 3rd quarter. $AMAT PR link.
Mylan(PBR360) rejects Teva Pharmaceuticals(NYSE: TEVA) $82/share, $40 billion buyout offer as undervalued & risky. $MYL PR link.
Celgene(PBR381) to acquire private biotech cancer discovery company Quanticel Pharmaceuticals for $100 million plus up to $385 million based on milestones achieved. $CELG PR link.
Corinthian Colleges(PBR974) announces cessation of effectively all operations, all campuses now closed. $COCO PR link.
Flowserve(PBR477) hires Karyn Ovelmen as EVP/CFO, effective 06/01/15. $FLS PR link.
Fortune Brands(PBR551) hires Nicholas Fink as SVP of Global Growth & Development, effective 06/01/15. http://bit.ly/1dmvCL8$FBHS PR link.
Friday, April 24:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,080.14, +1.42% from last Friday, +1.71% MTD/QTD, +1.44% YTD.
NASDAQ closes week at 5,092.09(R), +3.25% from last Friday, +3.90% MTD/QTD, +7.52% YTD.
SPX closes week at 2,117.69(R), +1.75% from last Friday, +2.41% MTD/QTD, +2.86% YTD.
Comcast(PBR44) terminates $45 billion merger agreement with Time Warner Cable(PBR125) & transactions agreement with Charter Communications(PBR320). $CMCSA PR link.
DISH(PBR201) comments on termination of Comcast(PBR44)/Time Warner Cable(PBR125) merger. $DISH PR link.
Dover(PBR295) completes sale of its precision-engineered components Sargent Aerospace & Defense unit to RBC Bearings(NASDAQ: ROLL) for $500 million. $DOV PR link.
Mylan(PBR360) makes 2nd unsolicited bid for Perrigo(PBR564) for $60/share & 2.2 shares of Mylan, $33 billion cash/stock deal. $MYL PR link.
Perrigo(PBR564) rejects Mylan’s(PBR360) 2nd unsolicited $60 share & 2.2 shares acquisition offer saying it is less than the initial rejected offer. $PRGO PR link.
Scholastic Corp(PBR923) to sell educational technology & services business unit to Houghton Mifflin for $575 million. $SCHL PR link.
Riverbed Technology(PBR1085) acquisition by private equity firm Thomas Bravo & Ontario(Canada) Teachers Pension Plan for $21/share, $3.6 billion cash is completed, now a private company. $RVBD PR link.
Thursday, April 23:
Happy 451st Birthday, Shakespeare!
NASDAQ closes at 5,056.06, first new record close in over 15 years. NASDAQ PR link.
The US Dept of HUD reports that the March New Family Home Sales Annual Rate was at 481,000, -11.4% from February, +19.4% from March 2014. HUD PR link.
Wednesday, April 22:
45th Anniversary of Earth Day. Do something nice for the environment today.
AT&T(PBR12) reports 1.2 million total wireless net adds in 1st quarter, DIRECTV(PBR90) $67 billion acquisition on target for 2nd quarter. $T PR link.
Google(PBR46) announces Project Fi which includes a partnership with T-Mobile(PBR115) & Sprint(PBR162) to provide an optimal fast and easy wireless service. $GOOG PR link.
Coca-Cola Co(PBR59) signs additional letters of intent with Coca-Cola bottlers in refranchising effort. $KO PR link.
Macy’s(PBR97) does exclusive US launch of intimate apparel brand HEIDI by model/TV personality Heidi Klum. $M PR link.
Ashland(PBR404) promotes Luis Fernandez-Moreno to SVP & President of Chemicals Group, reports to chairman/CEO. $ASH PR link.
SunEdison(PBR888) promotes Pancho Perez to EVP/COO. $SUNE PR link.
The National Association of Realtors reports that the March Existing Home Sales were at a 5.19 million annual rate, +6.1% from February, +10.4% from March 2014. NAR PR link.
Tuesday, April 21:
General Motors(PBR7) sold 2.4 million vehicles worldwide in 1st quarter 2015. $GM PR link.
Verizon(PBR15) announces new FiOS customizable pay-TV service. $VZ PR link.
Archer-Daniels-Midland(PBR28) acquires corn processing plants in Bulgaria, Turkey, increases ownership stake in Hungary, for $258 million. $ADM PR link.
Humana(PBR71) acquires multi-state nurse practitioner in home visits provider Your Home Advantage, terms not disclosed. $HUM PR link.
Baker Hughes(PBR124) is cutting 17% of workforce, 10,500 positions, due to drop in oil prices. $BHI PR link.
Mylan(PBR360) is sent an $82/share, $40 billion in cash/stock offer to be acquired by Israel based Teva Pharmaceuticals(NYSE: TEVA). $MYL PR link.
Gannett(PBR458) says TEGNA is to be name of spin-off broadcasting/digital company, will trade as NYSE: TGNA. $GCI PR link.
Perrigo(PBR564) rejects unsolicited $205/share, $29 billion bid from Mylan(PBR360), says offer is undervalued. $PRGO PR link.
FMC Corp(PBR578) completes $1.8 billion acquisition of Denmark based multinational crop protection company Cheminova. $FMC PR link.
Monday, April 20:
Raytheon(PBR118) to invest $1.57 billion for majority ownership in venture with Vista Equity Partners’ Websense unit to provide cyber security services. $RTN PR link.
Groupon(PBR750) to sell 46% stake, retain a 41% stake, in Ticket Monster to partnership of KKR(PBR272)/Anchor Equity for $360 million. $GRPN PR link.
Prologis(PBR937) unit partnership to acquire real estate assets & operating platform of KTR Capital Partners for $5.9 billion. $PLD PR link.
Hyatt Hotels(PBR549) appoints Atish Shah as SVP, Interim CFO. $H PR link.
Friday, April 17:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,826.30, -1.28% from last Friday, +0.28% MTD/QTD, +0.02% YTD.
NASDAQ closes week at 4,931.81, -1.28% from last Friday, +0.63% MTD/QTD, +4.13% YTD.
SPX closes week at 2,081.18, -0.99% from last Friday, +0.64% MTD/QTD, +1.08% YTD.
Ford Motor(PBR8) to invest $2.5 billion to build new engine & transmission plants in Mexico. $F PR link.
Costco(PBR18) reauthorizes up to $4 billion shares repurchase program to expire in April, 2019. $COST PR link.
Raytheon(PBR118) awarded an over $2 billion contract for an international Patriot Air & Missile Defense System. $RTN PR link.
Alpha Natural Resources(PBR478) plans to restore compliance with NYSE minimum stock price average of $1.00/share over last 30 days. $ANR PR link.
Hudson City Bancorp(PBR1022) & M&T Bank Corp(PBR516) agree to extend merger deadline from 04/30/15 to 10/31/15, waiting for regulatory approval. $HCBK PR link.
New York Times(PBR982) promotes Meredith Kopit Levien to Chief Revenue Officer, reports to President/CEO Mark Thompson. $NYT PR link.
Centrus Energy(PBR1035) SVP/COO Bob Van Namen is stepping down on 05/29/15. $LEU PR link.
The US Dept of Labor reports that the March Current Average/Hour Earnings were at $24.86, up from February’s $24.79, up from March 2014’s $24.34. USDOL PR link.
The US Dept of Labor reports that the March Consumer Price Index-Urban was +0.2%, was -0.1% over the last 12 months. USDOL PR link.
Thursday, April 16:
PPG Industries(PBR183) to do 2:1 stock split after close on 06/12/15. $PPG PR link.
Ecolab(PBR204) to acquire the Travelers North Tower in St. Paul, MN, as new world headquarters. $ECL PR link.
Discover Financial(PBR281) authorizes $2.2 billion shares repurchase program. $DFS PR link.
Alliance Data(PBR540) increases 2015 stock repurchase program from $600 million to $1 billion. $ADS PR link.
Carlyle Group(PBR528) names former WalMart(PBR1) President/CEO Mike Duke as Operating Executive for the Consumer & Retail Group. $CG PR link.
SunEdison(PBR888) hires Cathy Zoi as CEO of its Rural Electric Utility Company unit. $SUNE PR link.
Cytec Industries(PBR901) promotes Carmelo Lo Faro, PhD, to VP/Chief Technology Officer. $CYT PR link.
The US Dept of Commerce reports that the March rate for Private Housing Building Permits was at 1,039,000/year, -5.7% from February, +2.9% from March 2014 USDOC PR link.
FreddieMac(PBR33) reports that 30 year fixed rate mortgages averaged 3.67% with 0.7 point for the week ending 04/16/15, was 4.27% a year ago FreddieMac PR link.
The American Petroleum Institute reports that March petroleum deliveries averaged 19.2 million barrels/day, -0.6% from February, +3.4% from March 2014. API PR link.
Wednesday, April 15:
Happy Income Tax Day!
Panera Bread(PBR794) increases shares repurchase program to $750 million, to sell/refranchise 73 company owned stores. $PNRA PR link.
Rackspace(PBR989) hires Scott Crenshaw as SVP Strategy & Product, reports to President/CEO Taylor Rhodes. $RAX PR link.
Freddie Mac(PBR33) hires Anil Hinduja as EVP/Chief Enterprise Risk Officer, reports to CEO Donald Layton. $FMCCX PR link.
CNA Financial(PBR263) hires Andrew Pinkes to be EVP CNA Worldwide Property & Casualty, reports to Chairman/CEO Tom Motamed, effective 05/18/15. $CNA PR link.
The US Federal Reserve Bank reports that Industrial Production was -0.6% in March, was +0.1% in February, -1.0% annual rate, effect of oil. FRB PR link.
The US Federal Reserve Bank releases the April Beige Book, summary of comments from businesses. FRB PR link.
Tuesday, April 14:
CSX(PBR224) authorizes $2 billion shares repurchase program over 24 months. $CSX PR link.
Host Hotels(PBR456) announces leadership reorganization in investment team for US West & East coasts. $HSTPR link.
The US Dept of Labor reports that the March Producer Price Index for Final Demand, a measure of inflation, was +0.2%, after -0.5% in February, -0.8% in January, -0.8% for the past 12 months. USDOL PR link.
The US Dept of Commerce reports in the Advance Report for Monthly Retail & Food Sales that March was at $441.4 billion, +0.9% from February, +1.3% over March 2014. USDOC PR link.
Monday, April 13:
Apple(PBR4) is estimated to have presold 1 million Apple Watches in the first weekend according to digital media analytics firm Slice Intelligence. SI PR link.
PepsiCo(PBR43) & NBA enter multiyear partnership; Chinese partner Tingyi’s Master Kong becomes basketball league beverage provider. $PEP PR link.
Sears Holding(PBR82) contributes 10 properties in 50/50 real estate partnership with Simon Property(PBR455). $SHLD PR link.
Citigroup(PBR26) CEO of Global Consumer Bank Manuel Medina-Mora retiring, Stephen Bird to succeed him on 06/01/15; other management changes announced. $C PR link.
Microsoft(PBR30) hires Kurt DelBene as EVP Corporate Strategy and Planning, reports to the CEO. $MSFT PR link.
Best Buy(PBR67) Chairman Hatim Tyabji to retire 06/09/15, CEO Hubert Joly to add role at that time. $BBY PR link.
eBay(PBR170) hires 3 executives to key leadership roles in preparation for spin-off. $EBAY PR link.
The US Dept of Treasury reports that for the 6 months through March Fiscal YTD Receipts were $1.42 trillion, Outlays $1.86 trillion, deficit $0.44 trillion. USDOT PR link.
Republican Senator from Florida Marco Rubio makes it official that he is a candidate to be the next US President. MR campaign link.
Sunday, April 12:
Former First Lady, Senator from New York, and Secretary of State Democrat Hillary Clinton announces that she is a candidate to be the next US President. HC campaign link.
Friday, April 10:
DJIA closes week at 18,057.65, +1.65% from last Thursday, +1.58% MTD/QTD, +1.31% YTD.
NASDAQ closes week at 4,995.98, +2.23% from last Thursday, +1.94% MTD/QTD, +5.49% YTD.
SPX closes week at 2,102.06, +1.70% from last Thursday, +1.65% MTD/QTD, +2.10% YTD.
Ford Motor(PBR8) reports it sold 296,825 vehicles in China during the 1st quarter, up 9% from last year. $F PR link.
General Electric(PBR9) in major restructuring to sell most of its GE Capital real estate assets for $26.5 billion to Blackstone(PBRPBR374) & Wells Fargo(PBR29); authorizes $50 billion shares buyback program through 2018. $GE PR link.
Blackstone Group(PBR374) to acquire retail REIT firm Excel Trust(NYSE: EXL) for $15.85/share, $2 billion. $EXL PR link.
The US Dept of Labor reports that the March US Import Prices Index was -0.3%, was +0.2% in February; the March US Exports Prices Index was +0.1%, was -0.2% in February. USDOL PR link.
Thursday, April 9:
eBay(PBR170) provides further information on plan to separate PayPal & working arrangements. $EBAY PR link.
Sprint(PBR162) to open 1,435 Sprint-RadioShack locations acquired by General Standard, to add 3,500 employees. $S PR link.
PG&E(PBR175) fined $1.6 billion by the California Public Utilities Commission for unsafe gas transmission lines operation, including the 2010 San Bruno pipeline rupture. CPUC PR link.
PG&E(PBR175) responds to CPUC $1.6 billion fine, says lessons will not be forgotten. $PCG PR link.
Avis Budget(PBR326) completes $160 million acquisition of largest independent Italian car rental company The Maggiore Group. $CAR PR link.
Harman Intl(PBR448) completes $780 million acquisition of private 8,000 employee $370 million/year software services company Symphony Teleca. $HAR PR link.
Acxiom(PBR1073) hires Rick Erwin to be President/GM of new division Audience Solutions, reports to CEO Scott Howe. $ACXM PR link.
The US Dept of Commerce says February Monthly Wholesale Sales were $444.2 billion, -0.2% from January, -1.5% from February 2014. USDOC PR link.
Wednesday, April 8:
Mylan(PBR360) bids $205/share, $29 billion cash/stock, for fellow generic drugmaker Perrigo(PBR564). $MYL PR link.
HanesBrands(PBR505) completes $200 million acquisition of seller of licensed collegiate logo apparel retailer Knights Apparel. $HBI PR link.
Netherlands based world’s 4th largest oil producer Royal Dutch Shell to acquire UK based liquid natural gas company BG Group for $70 billion in cash/stock. RDS PR link.
The US Federal Reserve Board releases the Federal Open Market Committee minutes from the 03/17-18/15 meeting. FRB PR link.
Tuesday, April 7:
FedEx(PBR61) to acquire Netherlands based logistics provider TNT Express for $8.73/share, $4.8 billion cash. $FDX PR link.
Halliburton(PBR94) to market for sale its drill bits, directional drilling and LWD/MWD businesses in connection with its Baker Hughes(PBR124) acquisition. $HAL PR link.
International Game Techology(PBR876) $6.4 billion acquisition by Italian based GTECH completed, to keep IGT name with headquarters in London. $IGT PR link.
ABM Industries(PBR489) names SVP Treasurer Anthony Scaglione as CFO, succeeds James Lusk who is leaving. $ABM PR link.
Frontier Communications(PBR497) promotes John Lass to EVP Field Operations, reports to CEO Dan McCarthy. $FTR PR link.
The US Dept of Labor in preliminary report says that there were 5.1million US Job Openings in February, 4.9 million hires, and 4.7 million separations. USDOL PR link.
The US Federal Reserve reports that February Consumer Credit at a seasonally adjusted annual rate of 5.6%, revolving credit at 5.0%, nonrevolving credit at 9.4%. USFRB PR link.
Monday, April 6:
Ventas(PBR707) to acquire private $2 billion/yr Ardent Health Care for $1.75 billion. $VTR PR link.
Ventas(PBR707) to spin-off post-acute/skilled nursing facility portfolio into a separate public REIT company 2nd half of 2015. $VTR PR link.
Health Care REIT(PBR693) VP Treasurer Mike Crabtree has retired as planned, Steve Schroeder promoted to the position. $HCN PR link.
Friday, April 3:
Good Friday Observed.
US Stock Exchanges Closed.
The PBR1000: The March 2015 Breaking News Recap is available. Click here for the blog post.
Tesla(PBR887) delivers 10,030 vehicles during the 1st quarter 2015, 55% more than in 2014. $TSLA PR link.
Hub Group(PBR623) promotes Vava Dimond to Chief Information Officer. $HUBG PR link.
BOK Financial(PBR1023) promotes Marc Maun to Chief Credit Officer, reports to President/CEO Steve Bradshaw. $BOKF PR link.
The US Dept of Labor reports that March Total Nonfarm Payroll Employment increased by only 126,000, unemployment rate stays at 5.5% USDOL PR link.
Thursday, April 2:
DJIA closes week at 17,763.24, +0.29% from last Friday, -0.07% MTD/QTD, -0.34% YTD.
NASDAQ closes week at 4,886.94, -0.09% from last Friday, -0.28% MTD/QTD, +3.19% YTD.
SPX closes week at 2,066.96, +0.29% from last Friday, -0.04% MTD/QTD, +0.39% YTD.
Group 1 Automotive(PBR291) has acquired $160 million/yr Prestige Audi in N Miami Beach, FL. $GPI PR link.
Simon Property(PBR455) authorizes 24 month $2 billion shares buyback program. $SPG PR link.
Expedia(PBR496) purchasing Amgen(PBR144) Seattle waterfront campus as headquarters location in 2018. $EXPE PR link.
Dynegy(PBR1000) completes $2.8 billion acquisition of Duke Energy(PBR111) Midwest 7 MWhr commercial generation & retail assets. $DYN PR link.
Ralph Lauren(PBR337) promotes Christopher Peterson to President, Global Brands, Mitchel Kosh to Chief Administration Officer, Robert Madore to CFO. $RL PR link.
Hershey Co(PBR347) promotes President/CEO John Bilbrey to the additional post of Chairman. $HSY PR link.
Mattel(PBR383) Chairman/Interim CEO Christopher Sinclair now CEO, retains Chairman position. $MAT PR link.
Cliffs Natural Resources(PBR422) EVP Business Development P. Kelly Tompkins now EVP/CFO, Clifford Smith now EVP Business Development. $CLF PR link.
Transdigm(PBR798) hires Terrance Paradie as EVP/CFO, to succeed Greg Rufus who is retiring. $TDG PR link.
The US Dept of Commerce reports that the preliminary February International Trade Balance was $186.2 billion in exports, $221.7 billion in imports, US deficit was $35.4 billion. USDOC PR link.
The US Dept of Commerce reports that the February New Orders for Manufactured Goods was up 0.2% over January to $468.3B, 1st up month in 6 months. USDOC PR link.
The US Dept of Labor reports that Unemployment Insured Initial Claims were at 268,000 for the week ending 03/28/15, 20,000 less than the previous week. USDOL PR link.
Wednesday, April 1:
Target(PBR38) to shut all 133 Canadian stores by 04/12/15. $TGT PR link.
AIG(PBR41) completes acquisition of Ireland’s 2nd largest health insurance provider, Laya Healthcare. $AIG PR link.
McDonald’s(PBR96) USA to increase wages on 07/01/15 to $1 above minimum wage at corporate locations, to at least $10/hr by end of 2016; also expanding employee benefits. $MCD PR link.
US Commodity Futures Trading Commission charges Kraft Foods(PBR145) & Mondelez(PBR85) with manipulation of wheat futures & cash wheat prices. CFTC PR link.
Celgene(PBR381) appoints Gerald Masoudi EVP, General Counsel & Corporate Secretary, succeeds retiring Lawrence Stein. $CELG PR link.
FMC Corp(PBR578) completes sale of Alkali Chemicals business to Tronox(PBR907) for $1.64 billion. $FMC PR link.
Carlisle Cos(PBR679) completes acquisition of Graco(PBR1072) Liquid Finishing business assets for $590 million cash. $CSL PR link.
Dynegy(PBR1000) completes $3.45 billion purchase of 6.3 gigawatts of power from Energy Capital Partners. $DYN PR link.
ADP(PBR220) reports that March Private Sector Employment grew by 189,000. $ADP PR link.
The US Dept of Commerce reports that the February annual construction rate was at $967.2 billion, -0.1% from January, +2.1% over February 2014. USDOC PR link.
California governor Jerry Brown issues executive order for state to reduce its water usage by 25%. CA Governor Newsroom PR link.
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(Photo courtesy of freedigitalphotos.net, Stuart Miles.)
