February 2016: Have You Checked Your Oil Levels Recently?
Hopefully Your Car Oil Levels
Are More Predictable
Than The Price Of Oil!
By Larry C. Paxton
In the office we try to summarize what were the big influences on news for that day. In February just about every day the top news event related to what was happening with oil. Were oil prices up or down? How were the major players adapting? Were they selling off or acquiring assets? Were they laying off people? What changes were they making for capital expenditures? On the world stage people were following OPEC decisions intently. Oil was the dominant theme by far in February, as it has been for some time now.
The other big influences were the earnings reports for 2015 which continued to flood in during February. Bottomline, the results were very mixed, not much to get excited about.
Jobs and wages had their few days of interest as well, once again not a big encouragement.
Perhaps the biggest entertainment value was watching the presidential debates, which continue to be mostly a lot of talk and not much substance, with a lot of focus on one candidate, Donald Trump, a capitalist icon for many, a member of the “One Percent Club” who seems to be having great appeal to a wide range of people who feel disenfranchised by the political system.
There were certainly other influences, like global growth concerns, shareholder activism, and mixed economic data. We will address these further in future blog posts.
Following are The PBR1000 and economic related news items of note for February 2016, starting with the last active day.
Monday, February 29:
The PBR1000 February US Stock Exchanges Snapshot:
DJIA ends February at 16,516.50, -0.74% from last Friday, +0.30% MTD, -5.21% QTD/YTD, -9.81% from record 18,312.39 on 05/19/15.
NASDAQ ends February at 4,557.95, -0.71% from last Friday, -1.21% MTD, -8.98% QTD/YTD, -12.66% from record 5,218.86 on 07/20/15.
SPX ends February at 1,932.23, -0.81% from last Friday, -0.41% MTD, -5.47% QTD/YTD, -9.32% from record 2,130.82 on 05/21/15.
Berkshire Hathaway(PBR4)‘s Warren Buffett’s 2015 letter reflects his optimism about US business. $BRKA PR link.
Proctor & Gamble(PBR33) completes transfer of Duracell batteries unit to Berkshire Hathaway(PBR4 $BRKA), buys 52 million P&G shares from BH for $1.8 billion. $PG PR link.
MetLife(PBR39) 4,000 advisors Retail Advisor Force unit being acquired by MassMutual, to close by mid 2016, terms not disclosed. $MET PR link.
Sysco(PBR61) to reduce workforce by 2%, 1,200 people, within the next 15 months, part of 3 year plan. $SYY PR link.
American Express(PBR83) to sell its Costco(PBR18 $COST) US cobranded card portfolio to CitiGroup(PBR28 $C) for $1 billion. $AXP PR link.
Sprint(PBR86) to do joint venture with Europe’s Dixons Carphone wireless retailer, to open 500 Sprint stores in the U.S. $S PR link.
Icahn Enterprises(PBR147 $IEP) owns 82% of Federal-Mogul common shares, proposes $7.00/share buyout of remaining shares. $FDML PR link.
Computer Sciences(PBR237) completes acquisition of Australia based 3,000 employee IT services company UXC(ASX: UXC) for $308 million. $CSC PR link.
CONSOL Energy(PBR598) to sell SW Virginia Buchanan Mine and other assets to Coronado IV for $420 million. $CNX PR link.
DENTSPLY(PBR694) completes $14.5 billion acquisition of Sirona Dental(NASDAQ: SIRO), now DENTSPLY Sirona, now world’s largest manufacturer of professional dental products. $XRAY PR link.
GoPro(PBR1010) acquires mobile editing apps Splice & Replay, terms not disclosed. $GPRO PR link.
Target(PBR40) hires Arthur Valdez as EVP-Chief Supply Chain & Logistics Officer, reports to EVP/COO John Mulligan. $TGT PR link.
Lockheed Martin(PBR64) promotes John Rood to SVP-International, succeeds retiring Pat Dewar. $LMT PR link.
Lockheed Martin(PBR64) promotes John Mollard to VP & Treasurer, effective 04/04/16, succeeds Ken Possenriede who will be VP Finance/Business Operations at Aeronautics unit. $LMT PR link.
Carlisle Cos(PBR650) appoints Amelia Murillo as VP-Human Resources. $CSL PR link.
Cinemark(PBR739) president/COO Robert Copple has resigned. $CNK PR link.
Lumber Liquidators(PBR1061) hires Dennis Knowles as COO. $LL PR link.
Housing: FreddieMac(PBR42) releases February Insight & Outlook. $FMCC PR link.
Friday, February 26:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA ends week at 16,639.77, +1.51% from last week, +1.05% MTD, -4.51% QTD/YTD, -9.13% from record 18,312.39 on 05/19/15.
NASDAQ ends week at 4,590.47, +1.91% from last week, -0.51 MTD, -8.33% QTD/YTD, -12.04% from record 5,218.86 on 07/20/15.
SPX ends week at 1,948.05, +1.58% from last week, +0.40% MTD, -4.69% QTD/YTD, -8.58% from record 2,130.82 on 05/21/15.
Apple(PBR5 $AAPL) fires back in court that FBI seeks ‘dangerous power.’ MarketWatch article link.
Caterpillar(PBR54) to end production of on-highway vocational trucks, to impact about 70 positions. $CAT PR link.
Honeywell(PBR74) reveals offer for United Technologies(PBR45 $UTX), $108/share, $39 billion cash/stock. $HON PR link.
United Technologies(PBR45) says Honeywell(PBR74 $HON) $108/share, $39 billion cash/stock offer has regulatory challenges, customer concerns, and is grossly undervalued. $UTX PR link.
Macy’s(PBR97) increases share repurchase program by $1.5 billion, new balance around $2 billion. $M PR link.
JCPenney(PBR234 $JCP) goes private (label) in fight to continue turnaround. MarketWatch article link.
Liberty Media(PBR534) settles litigation with Vivendi for $775 million, has $1.3 billion balance for share repurchase program. $LMCA PR link.
Groupon(PBR652) sells one billionth Groupon, first Groupon was sold in October 2008. $GRPN PR link.
Olin Corp(PBR838) president/COO John Fischer to become CEO on 05/01/16, succeeds retiring Joe Rupp. $OLN PR link.
Revlon(PBR900) president/CEO Lorenzo Delpani to step down effective 03/01/16, will remain on board; Gianni Pieraccioni appointed as new COO. $REV PR link.
The US Dept of Commerce says January Personal Income Annual Rate at $15.691 trillion, +0.5% from December, Personal Savings Rate at 5.2%. USDOC PR link.
The US Dept of Commerce restates 4th Quarter GDP Annual Rate from 0.7% to 1.0%, $18.148 trillion, 2015 GDP was 2.4%. USDOC PR link.
Energy: Energy companies’ latest move as oil prices slump? Sell, sell, sell. MarketWatch article link.
Consumer Credit: This is how many Americans have ‘great’ credit. MarketWatch article link.
Thursday, February 25:
McKesson(PBR6) making 2 acquisitions, Vantage Oncology & Biologics, for a total of $1.2 billion. $MCK PR link.
Best Buy(PBR73) authorizes new $1 billion share buyback program over 2 years. $BBY PR link.
Halliburton(PBR90 $HAL) to cut 5,000 jobs, 8% of workforce, had announced 22,000 job cuts previously. MarketWatch article link.
Kohl’s(PBR149) plans $600 million share buyback program with $50/share average. $KSS PR link.
Gap Inc(PBR179) authorizes $1 billion share buyback program, supersedes previous program. $GPS PR link.
Estee Lauder(PBR255) has acquired Paris-based global luxury fragrances provider By Kilian, terms not disclosed. $EL PR link.
Packaging Corp(PBR425) authorizes additional $200 million for share repurchase program. $PKG PR link.
Dynegy(PBR777) & Energy Capital Partners form joint venture to acquire ENGIE’s US fossil portfolio for $3.3 billion. $DYN PR link.
Equifax(PBR795) completes $1.9 billion acquisition of Australia based credit information company Veda Group. $EFX PR link.
Restoration Hardware(PBR915)’s new membership program gives analysts pause. $RH PR link.
Republic Airways(PBR1015) files for Chapter 11 bankruptcy, appoints Lars Arnell as SVP/Chief Restructuring Officer. $RJET PR link.
Core-Mark(PBR271) SVP/CFO Stacy Lorentz-Congdon retiring at end of 2016, VP/Chief Accounting Officer Christopher Miller to be CFO on 05/01/16. $CORE PR link.
Ralph Lauren(PBR349) President-Global Brands Chris Peterson to leave on 05/31/16, position to be eliminated. $RL PR link.
Avery Dennison(PBR396) president/COO Mitchell Butier to be president/CEO on 05/01/16. CEO Dean Scarborough to become executive chairman. $AVY PR link.
Urban Outfitters(PBR638) promotes David McCreight to president. $URBN PR link.
Sprouts Farmers Market(PBR688) hires Brad Lukow as CFO, effective 03/04/16. $SFM PR link.
The US Dept of Labor says US 02/20/16 Initial Unemployment Claims at 272,000, +10,000 from previous week, total at 2,253,000. USDOL PR link.
FreddieMac(PBR42) says US Average 30 Year Fixed Mortgage Rate at 3.62% with 0.6 points/fees. $FMCC PR link.
Wednesday, February 24:
Caterpillar(PBR54) VP Electric Power Division Steve Niehaus is retiring, division to be consolidated with Marine & Petroleum Power divisions. $CAT PR link.
TJX Cos(PBR96) adds $1.5-2.0 billion to share buyback pgm, current balance is $1.5 billion, expires 01/28/17. $TJX PR link.
Southern Co(PBR155) to acquire electric utilities technologies provider PowerSecure Intl(NYSE: POWR) for $18.75/share, $431 million cash, to close 2Q2016. $SO PR link.
BB&T(PBR277) to acquire $200 million revenues/year commercial wholesale insurance provider Swett & Crawford, terms not disclosed. $BBT PR link.
Marathon Petroleum(PBR23) chairman Thomas Usher to retire 04/27/16, president/CEO Gary Heminger to then add chairman title. $MPC PR link.
Boeing(PBR27) promotes Leanne Caret to president/CEO-Defense, Space, & Security, succeeds retiring Chris Chadwick. $BA PR link.
Level 3 Communications(PBR375) CEO Jeff Storey to take 2 month temporary medical leave for heart surgery, CFO Sunit Patel to also be Interim CEO. $LVLT PR link.
The US Dept of Housing & Urban Development says January New Single-Family Sales Annual Rate was at 494,000 units, -9.2% from December, -5.2% from January 2015. HUD PR link.
Taxes: 45% of Americans pay no federal income tax. MarketWatch article link.
Robotics: IDC Forecasts Worldwide Spending on Robotics to Reach $135 Billion in 2019. IDC PR link.
Opinion-US Economy: Markit’s PMI shows significant risk of US economy falling into contraction. Full analysis: Markit article link.
Tuesday, February 23:
Viacom(PBR212) to explore strategic investment partnership for Paramount Pictures. $VIA PR link.
Airgas(PBR461) stockholders approve acquisition by France based Air Liquide(Euronext Paris: AI) for $143/share, $13.4 billion cash, expected to close 2Q or 3Q2016. $ARG PR link.
Activision Blizzard(540) completes acquisition of London based gaming developer King Digital Entertainment(NYSE: KING) for $18.00/share, $5.9 billion, creating largest game network in the world with over 500 million users. $ATVI PR link.
Lexmark(PBR601) to eliminate 550 of 14,000 positions worldwide over next 12 months. $LXK PR link.
Cooper Tire & Rubber(PBR618) authorizes new $200 million share repurchase program through 12/31/17. $CTB PR link.
Monster Beverage(PBR785) to acquire American Fruits & Flavors for $690 million, to close 1Q2016. $MNST PR link.
Eastman Chemical(PBR288) retirements for COO Ron Lindsey, SVP Integrated Supply Chain Godefroy Motte; 5 promotions announced. $EMN PR link.
Discovery Communications(PBR399) CFO Andrew Warren to leave company at end of 2016. $DISCA PR link.
Toll Brothers(PBR577) Vice Chairman/Co-Founder Bruce Toll to retire on 03/08/16. $TOL PR link.
Cooper Tire & Rubber(PBR618) Chairman/CEO Roy Armes to retire on 08/31/16, COO Bradley Hughes to then become President/CEO. $CTB PR link.
The National Assn of Realtors says January Existing Home Sales was at a 5.47 million annual rate, median price $213,800. NAR PR link.
S&P/Case-Shiller December US National Home Prices Index was +0.1% from November, +5.4% from December 2014. C-S PR link.
Housing: What the shrinking amount of mortgage debt tells us about the housing market. MarketWatch article link.
Fashion: Wearable device sales soar, led by Fitbit MarketWatch article link.
Monday, February 22:
Verizon(PBR15) to acquire fiber-optic network business of XO Communications for about $1.8 billion, expected to close 1H2017. $VZ PR link.
United Technologies(PBR45) confirms it has been in talks with Honeywell(PBR74 $HON), has concerns about regulatory obstacles, customer concerns, & valuations issues. $UTX PR link.
Sysco(PBR61) to acquire European food services distributor Brakes Group for $3.1 billion, includes $2.3 billion of debt. $SYY PR link.
Bristol-Myers Squibb(PBR185) completes sale of its HIV R&D portfolio to ViiV Healthcare for $350 million up front with $2.5 billion in future incentives. $BMY PR link.
Fortune Brands(PBR469) authorizes $400 million share repurchase program over next 2 years. $FBHS PR link.
Lumber Liquidators(PBR1061 $LL) wood flooring cancer risk greater than previously reported because of inaccurate calculation by CDC. MarketWatch PR link.
Kroger(PBR20) Smith’s division president Jay Cummins to retire on 04/29/16 after 44 years with company. $KR PR link.
Blackhawk Network(PBR998) president Talbott Roche now also CEO, succeeds William Tauscher who remains chairman. $HAWK PR link.
Markit February Flash U.S. Manufacturing PMI of 51.0 flashes warning sign. MarketWatch PR link.
Friday, February 19:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA ends week at 16,391.99, +2.62% from last week, -0.45% MTD, -5.93% QTD/YTD, -10.49% from record 18,312.39 on 05/19/15.
NASDAQ ends week at 4,504.43, +3.85% from last week, -2.37 MTD, -10.04% QTD/YTD, -13.69% from record 5,218.86 on 07/20/15.
SPX ends week at 1,917.78, +2.84% from last week, -1.16% MTD, -6.17% QTD/YTD, -10.00% from record 2,130.82 on 05/21/15.
Apple(PBR5 $AAPL) vs. the FBI: A complete guide regarding the phone encryption controversy. MarketWatch PR link.
Citigroup(PBR28) to sell consumer businesses in Brazil, Argentina, and Columbia. $C PR link.
Coca-Cola(PBR63) signs letter of intent to grant additional bottling territory to Swire Coca-Cola USA. $KO PR link.
AutoNation(PBR148) has $250 million available for share repurchase program. $AN PR link.
Yahoo!(PBR519) forms independent committee to explore strategic alternatives. $YHOO PR link.
Perrigo(PBR565) to relocate global investor relations, global treasury functions from US to Ireland headquarters. $PRGO PR link.
Intl Flavors & Fragrances(PBR666) promotes Dionisio Ferenc as VP, Global Fine Fragrances. $IFF PR link.
Mueller Industries(PBR812) to acquire 60% interest in S Korea based global copper-based pipe joining manufacturer Jungwoo Metal, terms not disclosed. $MLI PR link.
Booz Allen Hamilton(PBR466) CFO Kevin Cook to retire, EVP Lloyd Howell, Jr to be CFO on 07/01/16. $BAH PR link.
SeaWorld(PBR1013) promotes John Reilly to Chief Parks Operations Officer & Dr. Chris Dold to Chief Zoological Officer, effective 04/01/16; forms Resort Development Group. $SEAS PR link.
The US Dept of Labor says the January Current Average Earnings/Hour was $25.39, +0.47% from December, +2.5% from January 2015. USDOL PR link.
The US Dept of Labor says the January Consumer Price Index was unchanged from December, +1.4% over the past 12 months, seasonally unadjusted. USDOL PR link.
Thursday, February 18:
IBM(PBR25) Watson Health unit to acquire Truven Health Analytics for $2.6 billion. strong>$IBM PR link.
Qualcomm(PBR106) & Lenova sign 3G/4G China patent license agreement. $QCOM PR link.
DISH Network(PBR196) ends 2015 with 13.897 million Pay-TV subscribers, ended 2014 with 13.978 million. $DISH PR link.
Alliance Data(PBR462) adds $500 million for new $1 billion balance available for 2016 share buyback program. $ADS PR link.
Arthur J Gallagher(PBR515) acquires Santa Monica, CA, based retail insurance broker White & Co Insurance, terms not disclosed. $AJG PR link.
Cabela’s(PBR606) EVP/COO Michael Copeland to transition to strategic advisory role over next month. $CAB PR link.
Wednesday, February 17:
Ingram Micro(PBR62) to be acquired by & become subsidiary of China based Tianjin Tianhai for $38.90/share, $6.0 billion cash, to close 2H2016. $IM PR link.
T-Mobile US(PBR95) reports 2.1 million net new adds to its wireless network in 4Q15, 8.3 million total in 2015. $TMUS PR link.
Capital One(PBR116) authorizes additional $300 billion for $3.125 billion share buyback program authorized in 2015. $COF PR link.
Devon Energy(PBR143) to offer 69,000,000 common shares at $18.75/share, proceeds to be used for a variety of financial purposes. $DVN PR link.
Targa Resources(PBR308) completes all equity acquisition of Targa Resources Partners. $TRGP PR link.
DSW(PBR778) to acquire e-commerce off-price footwear & accessories retailer eBuys for $62.5 million plus future performance payments. $DSW PR link.
Kroger(PBR20) SVP Retail Operations & Strategic Initiatives Marnette Perry retiring after 44 years with company, effective 04/29/16. $KR PR link.
Caterpillar(PBR54) announces new responsibilities for VPs Doug Hoerr, Greg Folley, & Tana Utley, effective 03/01/16. $CAT PR link.
Level 3 Communications(PBR375) makes EVP/Chief Admin Officer Laurinda Pang Regional President of N. America & Asia Pacific. $LVLT PR link.
The US Dept of Labor says the January Producer Price Index for Final Demand was +0.1%, was -0.2% in Dec, -0.2% from January 2015. USDOL PR link.
The US Dept of Commerce says the January Private Housing Units Building Permits Issued annual rate was at 1,202,000, -0.2% from December, +13.5% from January 2015. USDOC PR link.
The US Federal Reserve says January Total Industrial Production Capacity at 77.1%, December was 76.4%, January 2015 was 79.1% FRB PR link.
The US Federal Reserve releases January FOMC Statement, reviews economic situation, maintains 0.25-0.50% funds rate. FRB PR link.
Tuesday, February 16:
United Continental(PBR77) & PAFCA reach tentative agreement for its 420 dispatchers. $UAL PR link.
Upon merger completion Staples(PBR122) & Office Depot(PBR182 $ODP) to sell $550+ million revs/yr from Fortune 500 clients to Essendant(PBR458 $ESND) for $22.5 million. $SPLS PR link.
Stryker Corp(PBR283) to acquire defibrillators provider Physio-Control Intl from Bain Capital for $1.28 billion cash. $SYK PR link.
Graphic Packaging(PBR553) completes acquisition of 2 location folding carton manufacturer Walter G Anderson, terms not disclosed. $GPK PR link.
ADT(PBR627) to be acquired by affiliate of Apollo Global Mgmt(PBR906 $APO) for $42.00/share, a 56% premium on 02/12/16 closing price. $ADT PR link.
Devon Energy(PBR143) restructures senior leadership, EVP E&P Tony Vaughn promoted to COO; EVP-HR, EVP-Marketing to retire. $DVN PR link.
Steel Dynamics(PBR306) co-founder/EVP Steelmaking & president/COO Steel Operations Richard Teets, Jr. retiring, 3 SVP promotions announced. $STLD PR link.
Caesars Entertainment(PBR314) hires Les Ottolenghi as EVP-Chief Information Officer, reports to president/CEO. $CZR PR link.
Fiserv(PBR474) hires Robert Hau as CFO, effective 03/14/16. $FISV PR link.
hhgregg(PBR864) CFO Robert Riesbeck now also interim president/CEO, Dennis May has left. $HGG PR link.
Monday, February 15:
***U.S. Presidents’ Day***
***U.S. Stock Markets Closed.***
Freeport-McMoRan(PBR128) sells 13% interest in Morenci Mine to Sumitoma Metal Mining for $1.0 billion cash. $FCX PR link.
JCPenney(PBR234) Chief Merchant John Tighe to oversee product development and design within merchandising organization; Supply Chain SVP Mike Robbins assumes added responsibility for global sourcing. $JCP PR link.
Crown Holdings(PBR298) promotes Robert Bourque, Jr to President-Asia Pacific Division, effective 05/01/16, succeeds retiring Jozef Salaerts, reports to president/CEO. $CCK PR link.
Celanese(PBR369) promotes SVP-HR Lori Johnston to EVP-Chief Administrative Officer. $CE PR link.
PulteGroup(PBR428) promotes Ryan Marshall to president, Harmon Smith to COO. $PHM PR link.
Friday, February 12:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA ends week at 15,973.84, -1.43% from last week, -2.99% MTD, -8.33% QTD/YTD, -12.77% from record 18,312.39 on 05/19/15.
NASDAQ ends week at 4,337.51, -0.59% from last week, -5.99 MTD, -13.38% QTD/YTD, -16.89% from record 5,218.86 on 07/20/15.
SPX ends week at 1,864.78, -0.81% from last week, -3.89% MTD, -8.77% QTD/YTD, -12.49% from record 2,130.82 on 05/21/15.
Lear Corp(PBR165) increases share buyback program to $1 billion, expires 12/31/17. $LEA PR link.
L Brands(PBR247 $LB) Victoria’s Secret CEO Sharen Turney resigns. MarketWatch article link.
NASDAQ(PBR618) to acquire 8,500 clients global news distributor & analytics provider MarketWired, terms not disclosed. $NDAQ PR link.
The US Dept of Labor says January Year to Year Import Price Index was -6.2%, lead by fuel at -34.5%, Exports at -5.7%, USDOL PR link.
The US Dept of Commerce says December Manufacturing/Trade Sales were $1.3 trillion, -0.6% from November, -2.7% from December 2014. USDOC PR link.
The US Dept of Commerce says January Retail/Food Services Sales were $449.9 billion, +0.2% from December, +3.4% from January 2014. USDOC PR link.
Thursday, February 11:
AIG(PBR46) adds $5.0 billion to share repurchase program, balance is $5.8 billion. $AIG PR link.
Brunswick(PBR584) increases share repurchase program by $300 billion, balance is $360 billion. $BC PR link.
JetBlue(PBR429) promotes John Culp to VP-Inflight Experience & Rachel McCarthy to VP-Talent. $JBLU PR link.
Hyatt Hotels(PBR537) hires Patrick Grismer as CFO, effective 03/14/16. $H PR link.
Brunswick(PBR584) president/COO Mark Schwabero elected as chairman/CEO, succeeds retiring Dustan McCoy. Brenna Preisser promoted to VP-Chief Human Resources Officer, succeeds retiring Russell Lockridge. $BC PR link.
W.R. Grace(PBR625) hires Thomas Blaser to be SVP-Finance/CFO. $GRA PR link.
Wednesday, February 10:
Amazon(PBR29) replaces current $2 billion share repurchase program with a $5 billion one, no termination date. $AMZN PR link.
Caterpillar(PBR54) names Rimco, its dealer for Puerto Rico & Eastern Caribbean, as its Cuba dealer. $CAT PR link.
Cisco(PBR60) adds $15 billion to share repurchase program, balance is $16.9 billion, no termination date set. $CSCO PR link.
Pilgrim’s Pride(PBR310) increases share buyback program from $150 million to $300 million over next 12 months. $PPC PR link.
Mylan(PBR346) to acquire Sweden based 4,500 employee global pharmaceuticals provider Meda for $9.9 billion, includes debt. $MYL PR link.
Carlyle Group(PBR581) announces $200 million share repurchase program. $CG PR link.
IGT(PBR878) North American subsidiary gets multi-year licensing deal for Life is Good lottery products. $IGT PR link.
UPS(PBR47) CEO David Abney elected to also be chairman. $UPS PR link.
The US Dept of Treasury says January Federal Government Receipts were $313.6 billion, Outlays $258.4 billion, Surplus $55.2 billion, Fiscal YTD Deficit is $160.4 billion. Treasury PR link.
The Natl Retail Federation forecasts 2016 Retail Sales to grow by 3.1%, non-store sales to grow 6-9%. NRF PR link.
Tuesday, February 9:
Amazon(PBR29) Web Services announces Amazon Lumberyard, a free cross-platform, 3D game engine integrated with AWS & Twitch. $AMZN PR link.
Cummins(PBR146) to do $500 million, 4 million shares, accelerated share repurchase deal with Goldman Sachs(PBR76 $GS). $CMI PR link.
Viacom(PBR212) and Snapchat enter into global content production and ad sales deal. $VIA PR link.
Cabela’s(PBR606) promotes EVP/Chief Commercial Officer Scott Williams to president. $CAB PR link.
The US Dept of Labor says December Job Openings at 5.6 million, Hires at 5.4 million, Separations at 5.1 millions. USDOL PR link.
The US Dept of Commerce says December US Wholesale Sales were $440.0 billion, -0.3% from November, -4.5% from December 2014. USDOC PR link.
Monday, February 8:
Pfizer(PBR56) names executive leadership team for combined organization upon close of proposed Allergan(PBR219 $AGN) transaction, expected in 2nd half of 2016. $PFE PR link.
Apollo Education(PBR681) to be taken private in $9.50/share, $1.1 billion cash transaction. $APOL PR link.
Sunday, February 7:
Super Bowl 50: The Denver Broncos win 24-10 against the Carolina Panthers in a defense dominated championship game.
Friday, February 5:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA ends week at 16,204.97, -1.59% from last week/MTD, -7.00% QTD/YTD. Record: 18,312.39 on 05/19/15.
NASDAQ ends week at 4,363.14, -5.44% from last week/MTD, -12.87% QTD/YTD. Record: 5,218.86 on 07/20/15.
SPX ends week at 1,880.05, -3.10% from last week/MTD, -8.02% QTD/YTD. Record: 2,130.82 on 05/21/15.
Calpine Corp(PBR330) completes $500 million acquisition of 745 megawatt power plan New Hampshire based Granite Ridge Energy Center. $CPN PR link.
Mattress Firm(PBR932) completes $780 million acquisition of 1,050 stores Sleepy’s, now has nearly 3,500 locations. $MFRM PR link.
The US Dept of Labor says US Number of Employed at 150.5 million, unemployed at 7.8 million, unemployment rate at 4.9%. USDOL PR link.
The US Federal Reserve says December US Total Consumer Credit at $3.547 trillion, +0.60% from November, +6.92% from December 2014. FRB PR link.
The US Dept of Commerce says 2015 US Total Exports were $2.230 trillion, Imports $2.762 trillion, Deficit $0.532 trillion. USDOC PR link.
Thursday, February 4:
Duke Energy(PBR114) considering sale of all or a portion of its International Energy business. $DUK PR link.
Icahn Enterprises(PBR147) completes $18.50/share, $1.03 billion acquisition of Pep Boys(PBR872). $IEP PR link.
Viacom(PBR212) names Sumner Redstone as chairman emeritus, president/CEO Phillipe Dauman elected executive chairman. $VIA PR link.
Genworth Financial(PBR287) to restructure, to separate longterm care business, suspend sales of traditional life & fixed annuity products. $GNW PR link.
Symantec(PBR384) gets $500 million from Silver Lake Partners, total capital return program increased to $5.5 billion. $SYMC PR link.
Group 1 Automotive(PBR276) acquires UK 12 dealerships Spire Automotive Group with $575 million annual revenues; divests 3 US dealerships with $160 million revenues/year; promotes Frank Grese, Jr, to SVP-Human Resources, Daryl Kenningham to Regional VP-West, David Fesmire Regional VP-East. $GPI PR link.
Bemis(PBR545) increases repurchase program by 20 million shares, balance is now 22.8 million shares. $BMS PR link.
TD Ameritrade(PBR662) acquires big data firm FA Insights, terms not disclosed. $AMTD PR link.
W.R. Grace(PBR625) promotes SVP/CFO Hudson La Force to president/COO. $GRA PR link.
Kennametal(PBR706) hires Ronald DeFeo as president/CEO, effective immediately, Donald Nolan has left. $KMT PR link.
The US Dept of Labor says the 2015 Average Annual Labor Productivity was +0.6% from 2014. USDOL PR link.
The US Dept of Commerce says the December US Shipments at $467.0 billion, -1.4% from November, 8th down month in last 9 months. USDOC PR link.
Wednesday, February 3:
Wells Fargo(PBR30 $WFC) reaches $1.2 billion settlement with the US Dept of Justice regarding 2001-2010 FHA loan issues. SEC filing link.
Home Depot(PBR32) hiring more than 80,000 for Spring. $HD PR link.
Comcast(PBR42) authorizes $10 billion share repurchase program, $5 billion to be spent in 2016. $CMCSA PR link.
Lowe’s(PBR50) to acquire Canadian home improvement retailer/distributor RONA for $2.3 billion cash. $LOW PR link.
Cisco(PBR60) to acquire private IoT services platform provider Jasper Technologies for $1.4 billion cash. $CSCO PR link.
W.R. Grace(PBR625) completes separation of GCP Applied Technologies(NYSE: GCP) into a separate public company. $GRA PR link.
Autodesk(PBR773) to restructure, reduce staff by 10%(925 positions), transition to cloud, focus on subscription business. $ADSK PR link.
GoPro(PBR1010) ships 6.6 million cameras in 2015, +27% from 2014, promotes Brian McGee to CFO, succeeds retirng Jack Lazar, effective 03/11/16. $GPRO PR link.
Delta Air Lines(PBR72) CEO Richard Anderson to become executive chairman on 05/02/16, president Ed Bastian to be CEO, Gil West is now SEVP/COO. $DAL PR link.
Manpower(PBR132) hires Jack McGinnis as CFO, Michael Van Handel to be Sr EVP, effective 02/15/16. $MAN PR link.
SuperValu(PBR164) hires Mark Gross as president/CEO, succeeds retiring Sam Duncan. $SVU PR link.
CBS(PBR210) president/CEO Leslie Moonves adds chairman title with resignation of Sumner Redstone who is now chairman emeritus. $CBS PR link.
Greenbrier Cos(PBR846) promotes CFO Mark Rittenbaum to EVP-Commercial, Leasing & Finance, Lorie Tekorius promoted to SVP-CFO & Treasurer. $GBX PR link.
ADP says the January Change in Non-Farm Private Sector Employment was +205,000 jobs, 192,000 were from services sector. $ADP PR link.
Institute for Supply Management says the January Non-Manufacturing Index was at 53.5%, down from 55.8% in December. $ISM PR link.
Tuesday, February 2:
Alphabet(PBR44 $GOOG) officially surpasses Apple(PBR5 $AAPL) as world’s most valuable company. MarketWatch PR link.
3M(PBR92) authorizes $10 billion share repurchase program with no completion date. $MMM PR link.
Staples(PBR122) and Office Depot(PBR182 $ODP) extend completion of merger from 02/04/16 to 05/16/16 for completion of FTC litigation. $SPLS PR link.
Lithia Motors(PBR451) acquires $65 million/year Toyota/Scion of Milford, MA. $LAD PR link.
Yahoo!(PBR519) announces 4 point strategic plan, includes 15% reduction in workforce. $YHOO PR link.
Chipotle(PBR561) opened 229 restaurants in 2015, has 2,010 stores, plans to add 220-235 in 2016. $CMG PR link.
Salesforce(PBR453) vice chairman/president Keith Block adds COO to responsibilities. $CRM PR link.
Hub Group(PBR611) hires Geoff DeMartino as VP Corporate Development. $HUBG PR link.
KB Home(PBR802) hires Jill Peters as SVP-Investor Relations. $KBH PR link.
Viavi Solutions(PBR944) hires Oleg Khaykin as president/CEO. $VIAV PR link.
Allscripts Healthcare(PBR1014) hires Melinda Whittington to be CFO. $MDRX PR link.
Mergers/Acquisitions: US retail, consumer M&A rose in value, declined in volume in 2015. MarketWatch article link.
Auto Industry: January US New Auto Sales at 1.148 million vehicles, -0.4% from January 2015, annual rate 17.55 million. Auto News article link.
Auto Industry: January US New Auto Sales Revenues at $38.052B, +1.4% from January 2015, avg trans price $33,155. TrueCar article link.
Monday, February 1:
Click here for The PBR1000 January 2016 Monthly Breaking News Recap.
Amazon(PBR29) inks production deal with Mattel(PBR412 $MAT) to greenlight American Girl specials for prime video. $AMZN PR link.
Abbott Labs(PBR134) to acquire global point of care diagnostics provider Alere(PBR752 $ALR) for $56/share, $5.8 billion. $ABT PR link.
Dominion Resources(PBR229) to combine with natural gas supplier Questar(NYSE: STR) for $25/share, $4.4 billion, includes debt assumption. $D PR link.
Stryker Corp(PBR283) to acquire medical disposable products provider Sage Products from Madison Dearborn Partners for $2.775 billion cash. $SYK PR link.
Ashland(PBR407) completes acquisition of 89 Oil Can Henry’s quick lube stores. $ASH PR link.
Chipotle(PBR561 $CMG) gets final report from Center for Disease Control regarding e. coli outbreaks, appears over. CDC PR link.
NASDAQ(PBR618) completes acquisition of alternate trading platform Chi-X Canada, terms not disclosed. $NDAQ PR link.
TreeHouse Foods(PBR690) completes $2.7 billion acquisition of ConAgra(PBR166 $CAG) Private Brands. $THS PR link.
Walter Energy(PBR1006) to sell remaining US assets to Seminole Coal Resources to satisfy bankruptcy restructuring program. $WLTGQ PR link.
TJX Cos(PBR96) president Ernie Herman now also CEO, chairman/CEO Carol Meyrowitz now executive chairman. $TJX PR link.
Macy’s(PBR97) names Peter Sachse as Chief Growth Officer, hires Justin MacFarlane as Chief Strategy, Analytics & Innovations Officer, both report to president Jeff Gennette. $M PR link.
Medtronic(PBR133) acquires private Italy based hemodialysis treatment solutions provider Bellco, terms not disclosed. $MDT PR link.
Gilead Sciences(PBR107) promotes Katie Watson to EVP-Human Resources. $GILD PR link.
CarMax(PBR202) EVP-HR Bill Nash promoted to president, to become CEO upon retirement of Tom Follard by end of 2016, Cliff Wood promoted to COO. $KMX PR link.
Herbalife(PBR487) hires Dr. John Agwunobi as Chief Health and Nutrition Officer. $HLF PR link.
Patterson Cos(PBR542) hires Kelly Baker as Chief Human Resources Officer. $PDCO PR link.
Cabot Corp(PBR607) president/CEO Patrick Prevost continues to be on medical leave, working part-time from home, expects to return full-time soon. $CBT PR link.
Cooper-Standard(PBR644) promotes Sharon Wenzl to SVP-Corporate Communications/Community Affairs. $CPS PR link.
The US Dept of Commerce says December Disposable Personal Income Annual Rate at $13.654 trillion, +0.3% from November, Personal Savings at 5.5%. USDOC PR link.
The US Dept of Commerce says December US Construction Spending at $1.117 trillion annual rate, +0.1% from November, +8.2% from December 2014. USDOC PR link.
The Manufacturing ISM® Report On Business® January PMI at 48.2, up 0.2 from December. ISM PR link.
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