October 2016: Major Acquisitions Dominate
Some Major Acquisitions Were Initiated In October 2016, Some Contorversial.
By Larry C. Paxton
The big acquisition announcement in October for The PBR1000 was AT&T(PBR10)’s controversial $85 billion bid for Time Warner(PBR95). Regulators have a major challenge in assessing if this should happen.
There were also 3 other deals valued at over $30 billion that will interesting to follow as well.
But the major news in the month was not so much regarding business, but politics, as US voters struggle over which presidential candidate they should elect, as well as House, Senate, state and local seats. Regardless of who wins, business will have to make some major adjustments.
Here’s a quick October 2016 summary on key activities that relate to The PBR1000:
US Presidential Race: 31 days completed, 8 days left. Will there be a national collective sigh of relief?
Mergers & Acquisitions: 27 deals worth over $1 billion initiated, closed, or updated. 17 were initiated, total transaction value is $247.5 billion.
Restructurings/Spinoffs: 12
Bankruptcies: 2 emerge from bankruptcy
CEO Changes: 8 announced.
Jobs: Retailers busy hiring/training temporary help for the holidays.
US Economy: Modest/moderate growth continues, stable but fragile.
Federal Reserve Federal Funds Rate Changes: 0, remains at 0.25-0.50%.
International: Brexit, oil price fluctuations, Middle East conflicts, refugee crisis, and climate change continue to be the headliners.
For more details here are The PBR1000 corporate and economic related breaking news items of interest with hotlinks to the sources for October 2016, starting with the last active business day.
Monday, October 31:
The PBR1000 End of October US Stock Exchanges Recap:
DJIA ends October at 18,142.42, -0.10% from last Friday, -0.91% MTD/QTD, +4.12% YTD, -2.65% from record 18,636.05 on 08/15/16.
NASDAQ ends October at 5,189.13, -0.02% from last Friday, -2.31% MTD/QTD, +3.63% YTD, -2.82% from record 5,339.52 on 09/22/16.
SPX ends October at 2,126.15, -0.01% from last Friday, -1.94% MTD/QTD, +4.02% YTD, -2.92% from record 2,190.15 on 08/15/16.
Amazon(PBR29) Web Services’ 189 megawatt Wind Farm US Central 2 in Hardin County, Ohio, to be ready by 12/17. $AMZN PR link.
Macy’s(PBR97) sells 5 stores to General Growth Properties(PBR765 $GGP) for $46 million for 4 stores, lease the 5th. $M PR link.
Baker Hughes(PBR108) stockholders to get $17.50/share dividend in $7.4 billion deal to merge with GE(PBR9) Oil & Gas unit as separate independent public company 62.5% owned by GE. $BHI PR link.
Occidental Petroleum(PBR123) has acquired leasehold acreage in Permian Basin, in separate transaction EOR/CO2 properties, total $2 billion. $OXY PR link.
HollyFrontier(PBR140) to acquire Suncor Energy‘s 15,600 barrels/day Group III base oils Petro-Canada Lubricants business for $845 million. $HFC PR link.
CenturyLink(PBR160) to acquire Level 3 Communications(PBR375) for $66.50/share, $34 billion cash/stock. $CTL PR link.
Constellation Brands(PBR377) to acquire Obregon Brewery from Anheuser-Busch InBev subsidiary Grupo Modelo for $600 million. $STZ PR link.
TeamHealth(PBR498) to be acquired by Blackstone(PBR352 $BX) for $43.50/share, $6.1 billion cash. $TMH PR link.
USG Corp(PBR599) completes sale of building product distributor L&W Supply unit to private $5.9 billion/2015 ABC Supply for $670 million cash. $USG PR link.
Vornado Realty Trust(PBR738) to spin-off Washington DC business, merge it with The JBG Companies in $8.4 billion transaction. $VNO PR link.
HCP(PBR838) completes spin-off of Quality Care Partners as an independent public REIT, symbol NYSE: QCP. $HCP PR link.
Viacom(PBR212) appoints Bob Bakish to be acting president/CEO starting 11/15/16, succeeds leaving Tom Dooley. $VIA PR link.
Louisiana-Pacific Corp(PBR902) promotes Brad Southern to new position of COO. $LPX PR link.
The US Dept of Commerce says Total US September Personal Income Annual Rate at $16.090 trillion, +0.3% from August, +4.0% from September 2015. USDOC PR link.
The MNI October Chicago Business Barometer at 50.6, September was 54.2, August 51.5. ISM PR link.
Friday, October 28:
The PBR1000 Week Ending 10/28/16 US Stock Exchanges Recap:
DJIA ends week at 18,161.19, +0.09% from last Friday. -0.80% MTD/QTD, +4.22% YTD, -2.55% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,190.10, -1.28% from last Friday, -2.29% MTD/QTD, +3.65% YTD, -2.80% from record 5,339.52 on 09/22/16.
SPX ends week at 2,126.41, -0.69% from last Friday, -1.93% MTD/QTD, +4.03% YTD, -2.91% from record 2,190.15 on 08/15/16.
AutoNation(PBR148) launches AutoNation USA stand-alone pre-owned vehicle sales and service centers, expanding other services. $AN PR link.
Corrections Corp(PBR965) rebranding itself as CoreCivic with 3 business units by end of 2016. $CXW PR link.
Patterson Cos(PBR542) promotes Dave Misiak to president, Patterson Dental Health North America & Dave Lardy to CIO. $PDCO PR link.
The US Dept of Commerce says 3Q16 Advance Report GDP Annual Rate at 2.9%, $18.651T, +1.1% from 2Q16, +2.8% from 3Q15. USDOC PR link.
The US Dept of Labor says 3Q16 Employee Cost Index at 127.4(2005=100), +0.6% from 2Q16, +2.3% from 3Q15. USDOL PR link.
The U of Michigan October Final Consumer Sentiment Index at 87.2, September was 91.2, August 89.8. UMich PR link.
Thursday, October 27:
Apple(PBR5) unveils new MacBook Pro. $AAPL PR link; Unveils new TV app for Apple TV, iPhone & iPad. $AAPL PR link.
Alphabet(PBR44 $GOOG) spinning off driverless cars into standalone business. MarketWatch PR link.
UPS(PBR47) forecasts 700 million+ package deliveries in 25 days between Thanksgiving & New Year’s Eve, +14% from 2015. $UPS PR link.
Qualcomm(PBR106) to acquire Netherlands based NXP Semiconductors NV(NASDAQ: NXPI) for $110.00/share, $47 billion cash. $QCOM PR link.
CBRE(PBR301) authorizes up to $250 million over 3 years stock repurchase program. $CBG PR link.
Twitter(PBR787 $TWTR) to cut 9% of workforce – MarketWatch. MarketWatch PR link.
Lowe’s(PBR50) promotes Michael McDermott to Chief Customer Officer. $LOW PR link.
Willis Towers Watson(PBR621) announces several leadership changes effective immediately. $WLTW PR link.
HealthSouth(PBR800) president/CEO Jay Grinney to retire on 12/31/16, EVP/COO Mark Tarr appointed successor, Barb Jacobsmeyer to become EVP/Operations. $HLS PR link.
Cedar Fair(PBR977) promotes Richard Zimmerman to president/COO. $FUN PR link.
US Energy Information Administration says US Crude Oil Stocks(Millions of Barrels) 10/21/16 at 468.2, -6.9% from 09/23/16, -2.5% from 10/23/15. EIA PR link.
The US Dept of Labor says Weekly Unemployment Insurance Claims on 10/22/16 was 258,000, -1.2% from 09/24/16, -2.4% from 10/24/15. USDOL PR link.
The US Dept of Commerce says 3Q16 Total Housing Units at 135.7M, Occupied 118.6M, Occupancy Rate 87.4%, 3Q15 87.1% USDOC PR link.
FreddieMac(PBR41) says 30 Year Fixed Mortgage Rates Average on 10/27/16 was 3.47%, 09/26/16 3.42%, 10/29/15 3.76%. $FMCC PR link.
US Federal Communications Commission adopts privacy rules to give broadband consumers more choice, transparency & security for personal data. FCC PR link.
Adobe Systems(PBR557) predicts 11/01/16-12/31/16 holiday spending to be $91.6 billion. $ADBE PR link.
Wednesday, October 26:
The PBR1000 September Snapshot 12 Summary:
The Top 5 Stock Price Gainers Since 12/31/14:
1. NVIDIA(PBR453), $NVDA, +242%
2. Amazon(PBR19), $AMZN, +170%
3. AMD(PBR533), $AMD, +159%
4. Activision Blizzard(PBR480), $ATVI, +120%
5. Insperity(PBR718), $NSP, +114
Range: +242% to -99%
Companies >+0%: 471/994(47.4%)
Average: +2.1%
Median: +2.2%
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Amazon(PBR29) expands AmazonFresh grocery shopping delivery service to Chicago & Dallas, $14.99/mo for Prime members. $AMZN PR link.
Microsoft(PBR31) introduces Surface Studio, Surface Dial, new Surface Book, & Windows 10 Creators Update. $MSFT PR link.
HCA(PBR75) to get $750 million for hospital lease & joint operating agreement early termination by Oklahoma University Hospitals Authority. $HCA PR link.
Medtronic(PBR133) gets FDA approval of new recapturable 34 mm transcatheter aortic valve replacement system. $MDT PR link.
Groupon(PBR652) to acquire competitor LivingSocial, close expected in early 11/16, terms not disclosed. $GRPN PR link.
Woodward(PBR888) promotes John Tysver to new position of VP/Technology. $WWD PR link.
The US Dept of HUD says September US New Family Homes Sold Annual Rate at 593,000, +3.1% from August, +29.8 from September 2015. HUD PR link.
FreddieMac(PBR41) 2Q16 US Apartment Investment Market Index at 110.4, +2.64% from 1Q16, -4.77% from 2Q15. $FMCC PR link.
Tuesday, October 25:
IBM(PBR25) adds $3 billion to share repurchase program, balance is now $6 billion. $IBM PR link.
Meredith Corp(PBR994) to increase distribution to 600,000 copies for premiere issue of quarterly lifestyle The Magnolia Journal. $MDP PR link.
Terex(PBR357) promotes Steve Filipov to president, Terex Cranes, succeeds leaving Ken Lousberg. $TEX PR link.
Sonoco Products(PBR480) promotes John Florence to VP/General Counsel/Secretary, succeeds retiring Ritchie Bond. $SON PR link.
Aerojet Rocketdyne(PBR969) hires Paul Lundstrom as VP/Finance/CFO starting 11/07/16. $AJRD PR link.
Invacare(PBR1028) promotes Ralf Ledda to SVP/GM Europe &EMEA. $IVC PR link.
The Federal Reserve of Richmond says October 5th District Manufacturing Index at -4%, September was -8%, August -11%. FRBRichmond PR link.
Black Knight Financial Services says September US Active Foreclosures at 1% of all mortgages, lowest in 9 years. $BKFS PR link.
The Conference Board says October US Consumer Confidence Index at 98.6, September was 103.5, August 101.8. TCB PR link.
Case-Shiller August US National Home Price Index at 184.42(Jan2000=100), July 183.43, August 2015 175.11. C-S PR link.
Monday, October 24:
Merck(PBR70) gets FDA approval for lung cancer therapy KEYTRUDA® (pembrolizumab). $MRK PR link.
T-Mobile US(PBR95) gets 2 million net adds in 3Q16, now has 69 million+ customers. $TMUS PR link.
Nordstrom(PBR214) to hire 11,400 seasonal employees across the US & Canada. $JWN PR link.
Jacobs Engineering(PBR225) relocates global headquarters from Pasadena, CA, to Dallas, TX. $JEC PR link.
Hilton Worldwide(PBR262) announces China based HNA Group to acquire 25% ownership stake through $6.5 billion purchase of Blackstone(PBR352 $BX) shares which will then have a 21% ownership stake. $HLT PR link.
TD Ameritrade(PBR662) to acquire private Scottrade Financial Services for $4 billion cash/stock. $AMTD PR link.
New York Times(PBR971) acquires product recommendation services The Wirecutter and sister site Sweethome, terms not disclosed. $NYT PR link.
Lowe’s(PBR50) CNA Financial subsidiary hires Dino Robusto to be its chairman/CEO on 11/21/16. CNAF PR link.
Nordstrom(PBR214) EVP/CFO Mike Koppel to retire in spring 2017. $JWN PR link.
Buffalo Wild Wings(PBR981) hires Alex Ware to be EVP/CFO starting 10/31/16. $BWLD PR link.
The Fed Reserve Bank of Chicago September National Activity Index estimated at -0.14, August was -0.72, July +0.23. ChicagoFed PR link.
The Federal Reserve Bank of San Francisco releases research showing jobs growth can be healthy at 50,000 to 110,000/mo. FRBSF PR link.
Smartwatch Market Declines 51.6% in the Third Quarter as Platforms and Vendors Realign. IDC PR link.
Opinion: Workers will simply try to survive, rather than prosper, as tech takes over the economy. MarketWatch PR link.
Sunday, October 23:
Genworth Financial(PBR287) to be acquired by privately heldChina Oceanside for $5.43/share, $2.7 billion cash. $GNW PR link.
B/E Aerospace(PBR748) to be acquired by Rockwell Collins(PBR495 $COL) for $62.00/share, $8.3 billion cash/stock. $BEAV PR link.
Saturday, October 22:
AT&T(PBR12) to acquire Time-Warner(PBR103 $TWX) for $107.50/share, $85.4 billion cash/stock. $T PR link.
Friday, October 21:
The PBR1000 Week Ending 10/21/16 US Stock Exchanges Recap:
DJIA ends week at 18,145.71, +0.04% from last Friday. -0.89% MTD/QTD, +4.14% YTD, -2.63% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,257.40, +0.83% from last Friday, -1.03% MTD/QTD, +4.99% YTD, -1.54% from record 5,339.52 on 09/22/16.
SPX ends week at 2,141.16, +0.38% from last Friday, -1.25% MTD/QTD, +4.76% YTD, -2.24% from record 2,190.15 on 08/15/16.
Merck(PBR70) gets US FDA approval for injected supplement ZINPLAVA to reduce reoccurrence of adult CDI. $MRK PR link.
Reynolds American(PBR105 $RAI) gets $56.20/share, $47 billion cash/stock proposal from British American Petroleum(LSE: BATS) to acquire the 57.8% of stock it doesn’t own. $BATS PR link.
Altria Group(PBR110) now has 10.2% voting stake with 12 million shares purchased in Anheuser-Busch InBev after A-B’s merger with SABMiller. $MO PR link.
AutoNation(PBR148) hires Tom Conophy as EVP/CTO, effective 10/31/16, SVP/CIO Allan Stejskal resigns, effective 10/28/16. $AN PR link.
Thursday, October 20:
The PBR1000 September Snapshot 4 Summary:
The Top 5 Corporations By Profits/Revenues(Last FY) are:
1. Caesars Entertainment(PBR482), $CZR, +127%
2. Kimco Realty(PBR982), $KIM, +71%
3. Visteon(PBR612), $VC, +70%
4. Symantec(PBR565), $SYMC, +69%
5. General Growth Properties(PBR754), $GGP, +57%
Range: +127% to -363%
Companies >+0%: 841/1,000
Average: +6.8%
Median: +5.6%
To get the full Snapshot 4 list with more details and the 14 other analytical snapshots just get a monthly or significantly discounted annual The PBR1000 subscription today! Subscribe link.
Walmart(PBR1) invests $50 million in China’s largest on-demand logistics and O2O grocery platform New Dada. $WMT PR link.
Walgreens Boots Alliance(PBR36) closing of $17.2 billion cash acquisition of Rite Aid(PBR105 $RAD) extended from 10/27/16 to 01/27/17. $WBA PR link.
Gannett(PBR414)’s USA TODAY NETWORK unit releases first weekly virtual reality news show VRtually There, features Toyota cubemercial. $GCI PR link.
Endo Intl(PBR700) EVP/CFO Suketu Upadhyay leaving 11/22/16, interim CFO appointed, CFO search begins. $ENDP PR link.
Penn Natl Gaming(PBR750) to promote EVP/Chief Development Officer William Fair to EVP/CFO on 01/01/17, succeeds retiring Saul Reibstein. $PENN PR link.
KB Home(PBR802) promotes Matt Mandino to regional president for Colorado, Las Vegas, & Arizona markets. $KBH PR link.
The Philadelphia Federal Reserve Bank says October Philadelphia Manufacturing General Activity Indicator at 9.7, September was 12.8, August 2.0. PhillyFed PR link.
The Conference Board says September Leading Economic Index at 124.4(2010=100), Coincident EI 114.2, Lagging EI 122.3. TCB PR link.
The National Association of Realtors says US September Existing Home Sales Annual Rate at 5.47 million, +3.2% from August, +0.6% from September 2015. NAR PR link.
FreddieMac October Outlook sees slowdown in home refinancing, more purchases, mortgage rates to remain low. $FMCC PR link.
The World Bank raises 2017 oil price forecast from $53 to $55/barrel, 2016 still estimated at $43/barrel. WB PR link.
Wednesday, October 19:
Henry Schein(PBR270) adds $400 million to share repurchase program, balance is $429 million. $HSIC PR link.
Joy Global(PBR590) shareholders approve $3.7 billion cash acquisition by Japan based Komatsu, to close by mid 2017. $JOY PR link.
QEP Resources(PBR626) completes $595 million acquisition of 9,400 acres, 430 potential oil wells, in Permian Basin in Martin County, TX. $QEP PR link.
Reynolds American(PBR317) president/CEO Susan Cameron to become executive chairman 01/01/17, Debra Crew, president/COO of subsidiary RJ Reynolds Tobacco, to become president/CEO. $RAI PR link.
New York Times(PBR971) promotes A G Sulzberger to deputy publisher, effective 11/01/16, will report to his father publisher Arthur Sulzberger, Jr. $NYT PR link.
The Federal Reserve Beige Book says outlooks were mostly positive, slight to moderate growth in several districts. FRB PR link.
The US Dept of HUD estimates US September Housing Permits Annual Rate at 1.225 million units, +6.3% from August, +8.5% from September 2015. HUD PR link.
Investing: ETF assets hit a fresh record, $3.408 trillion, in 3Q. MarketWatch PR link.
ADP(PBR235) 3Q16 US Workforce Vitality Report says wage growth at +2% year over year across all industries. $ADP PR link.
Tuesday, October 18:
The PBR1000 September Snapshot 7 Summary:
The Top 5 Corporations By Equity/Assets(Last FY) are:
1. Public Storage(PBR759), $PSA, +94%
2. T Rowe Price(PBR514), $TROW, +93%
3. AVX Corp(PBR976), $AVX, +90%
4. Facebook(PBR147), $FB, +90%
5. Intuitive Surgical(PBR758), $ISRG, +88%
Range: +94% to -225%
Companies >+0%: 953/1,000
Average: +19.6%
Median: +34.3%
To get the full list with more details and the 14 other analytical snapshots just get a monthly or significantly discounted annual The PBR1000 subscription today! Subscribe link.
AIG(PBR46) to sell certain Latin America, Central/Eastern Europe operations to Fairfax Financial for $240 million cash, enters strategic multi-national support partnership. $AIG PR link.
St Jude Medical(PBR440 $STJ) & Abbott Labs(PBR134) to sell portion of vascular closure & electrophysiology businesses to Terumo Corp for $1.12 billion. $ABT PR link.
BlackRock(PBR252) exceeds $5.1 trillion in Assets Under Management at end of 3Q16, +14% from 3Q15. $BLK PR link.
Steel Dynamics(PBR306) authorizes up to $450 million share repurchase program. $STLD PR link.
Harley-Davidson(PBR400) in 3Q16 report says it expects to ship 264,000-269,000 motorcycles in 2016. $HOG PR link.
Scientific Games(PBR937) gets agreement with Penn Natl Gaming(PBR750 $PENN) to supply systems, games and table solutions to Tropicana Las Vegas and New Hollywood Casino Jamul-San Diego. $SGMS PR link.
TimeInc(PBR630) EVP/CFO Jeff Bairstow departing 11/07/16, Sue D’Emic to succeed him, other executive changes announced. $TIME PR link.
The US Dept of Labor says US September All Items Consumer Price Index +0.3% from August, Annual Unadjusted at 1.5%, August 1.1%. USDOL PR link.
The US Dept of Labor estimates US September Current Average Weekly Earnings at $887.18, +0.5% from August, +2.3% from September 2015. USDOL PR link.
Jobs: Manpower(PBR132) survey says 46% of US businesses have difficulties filling positions, lists top 10. $MAN PR link.
The National Assn of Homebuilders says US October Housing Market Index(HMI) at 63, September was 65, August 59. NAHB PR link.
Monday, October 17:
Macy’s(PBR97) to carry 30+ Brookstone specialty gift items, many technology related, in its stores and online. $M PR link.
Avnet(PBR100) completes $2.46/share, $919 million cash acquisition of UK based global distributor of electronic & related components Premier Farnell plc. $AVT PR link.
Community Health System(PBR125) to sell majority interest in its Home Health division to Almost Family(NASDAQ: AFAM). $CYH PR link.
SuperValu(PBR164) to sell Save-A-Lot business to Canada’s Onex Corp(TSX: OCX) for $1.365 billion. $SVU PR link.
Celanese(PBR369) to acquire Italy based 550 employees independent global thermoplastics compounder SO.F.TER Group. $CE PR link.
Constellation Brands(PBR377) to sell Canadian wines business to Ontario Teachers’ Pension Plan for $784.5 million. $STZ PR link.
Constellation Brands(PBR377) to acquire Columbia Valley, Washington, Charles Smith Wines for $120 million. $STZ PR link.
Netflix(PBR447) 3Q16 report says 86.74 million total streaming memberships, was 74.76 million 4Q15. $NFLX PR link.
Regions Financial(PBR450) acquires 30,000 rental units Low Income Housing Tax Credit corporate fund syndication and asset management businesses of First Sterling Financial. $RF PR link.
Coty(PBR524) to acquire UK high-end hairstyling appliances provider ghd for $510 million cash. $COTY PR link.
Snap-On(PBR641) to acquire Swedish collision repair equipment/truck alignment systems $95 million/yr Car-O-Liner for $155 million cash. $SNA PR link.
Orbital ATK(PBR655) launches 6th cargo delivery mission to International Space Station. $OA PR link.
Vail Resorts(PBR1032) completes $46.80/share, $1.8 billion cash/stock acquisition of Canada’s mountain resort Whistler Blackcomb. $MTN PR link.
Caterpillar(PBR54) Chairman/CEO Doug Oberhelman to retire on 03/31/17; group president Jim Umpleby to be CEO on 01/01/17. $CAT PR link.
VISA(PBR224) CEO Charlie Sharf resigns effective 12/01/16, board member Alfred Kelly to be CEO designate on 10/31/16. $V PR link.
Campbell Soup(PBR326) promotes Ed Carolan to president, C-Fresh, succeeds leaving Jeff Dunn; Bethmara Kessler promoted to SVP/Integrated Global Services. $CPB PR link.
Simon Property(PBR494) general counsel/secretary James Barkley to retire on 01/01/17, to be succeeded by Steven Fivel. $SPG PR link.
Greenbrier Cos(PBR846) promotes Mark Rittenbaum to EVP/Commercial & Leasing, succeeds retiring James Sharp. $GBX PR link.
The US Federal Reserve estimates US September Industrial Production Capacity at 75.4%, August was 75.3%, July 75.8%. FRB PR link.
The Federal Reserve Board of New York October Empire State General Business Conditions Index at -6.8, September was -2.0, October 2015 -11.4. FRBNY PR link.
Friday, October 14:
The PBR1000 Week Ending 10/14/16 US Stock Exchanges Recap:
DJIA ends week at 18,138.38, -0.56% from last Friday. -0.93% MTD/QTD, +4.09% YTD, -2.67% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,214.16, -1.48% from last Friday, -1.84% MTD/QTD, +4.13% YTD, -2.35% from record 5,339.52 on 09/22/16.
SPX ends week at 2,132.98, -0.96% from last Friday, -1.63% MTD/QTD, +4.36% YTD, -2.61% from record 2,190.15 on 08/15/16.
Boeing(PBR27) to build a St. Louis $300 million 424,000 sf facility for composite parts manufacturing for 777S jetliner, 700 jobs to be generated. $BA PR link.
Freeport-McMoRan(PBR128) to sell onshore California oil & gas properties for $742 million. $FCX PR link.
Monster Beverage(PBR785) to do 3:1 stock split on 11/09/16. $MNST PR link.
Boston Properties(PBR803) Salesforce Tower development reaches 867 feet, now tallest building in San Francisco, will go to 1,070 feet. $BXP PR link.
Hershey(PBR354) chairman/president/CEO John Bilbrey to retire from president/CEO roles on 07/01/17. $HSY PR link.
The US Dept of Treasury says US Total Receipts YTD(12 months) at $3.267 trillion, Outlays $3.854 trillion, Deficit $587 billion. Treas PR link.
The US Dept of Labor says US September Producer Price Index Total Final Demand at +0.3%, August was 0.0%, July -0.4%. USDOL PR link.
The US Dept of Commerce says US August Total Manufacturers/Retail/Wholesales Sales at $1.304 trillion, +0.16% from July, -0.03% from August 2015. USDOC PR link.
The US Dept of Commerce US Total September Retail Trade(Advance Report) at $459.8 billion, +0.6% from August, +2.7% from September 2015. USDOC PR link.
The University of Michigan October Preliminary Index of Consumer Sentiment at 87.9, September Final was 91.2, August 89.8. UMich PR link.
Thursday, October 13:
Amazon(PBR29) creating 120,000 seasonal jobs in customer fulfillment and customer service this holiday season. $AMZN PR link.
Kellogg(PBR198) to make its largest acquisition in S America, Brazilian biscuit, powdered beverage & pasta brands manufacturer Parati Group for $429 million cash; lowers buyback program to $450-550 million. $K PR link.
Kellogg(PBR198) announces goal to create 3 billion better days for people around the world. $K PR link.
Discovery Communications(PBR399) invests $100 million in new digital content holding company Group Nine Media, includes strategic partnership. $DISCA PR link.
Welltower(PBR635) completes $1.15 billion acquisition of Vintage Senior Living 19 properties California portfolio. $HCN PR link.
HCP(PBR834) to spin-off Quality Care Partners as an independent public REIT around 10/31/16, symbol NYSE: QCP. $HCP PR link.
International Paper(PBR117) SVP/CFO Carol Roberts & SVP William Hoel to retire on 03/31/17, to promote Glenn Landau to CFO 01/01/17; other senior management changes announced. $IP PR link.
S&P Global(PBR477) hires Ewout Steenbergen to be EVP/CFO starting 11/14/16. $SPGI PR link.
The US Dept of Labor estimates US September Imports Price Index at +0.1%, Exports +0.3%, Y-Y Imports -1.1%, Exports -1.5%. USDOL PR link.
Wednesday, October 12:
The PBR1000 Top 5 Corporations By Revenue Growth(Last FY)(Snapshot 3) are:
1. Fitbit(PBR859), $FIT, +149%
2. Zebra Tech(PBR560), $ZBRA, +119%
3. AECOM Tech(PBR146), $ACM, +115%
4. Dollar Tree(PBR167), $DLTR, +80%
5. Kraft Heinz(PBR142), $KHC, +68%
Range: +149% to -66%
Companies >+0%: 505
Median: +0.1%
To get the full list with more details and the 14 other analytical snapshots get a monthly or significantly discounted annual The PBR1000 subscription today! Subscribe link.
Walmart(PBR1 $WMT) raises salaries by enough to beat new overtime rules. MarketWatch PR link.
Icahn Enterprises(PBR147) extends $9.25/share cash tender offer for Federal-Mogul to 10/28/16. $IEP PR link.
Stanley Black & Decker(PBR249) to acquire Tools business from Newell Brands(PBR434 $NWL) for $1.95 billion cash. $SWK PR link.
Polaris Industries(PBR531) to acquire private off-road jeep/truck aftermarket accessories $740 million/yr Transamerican Auto Parts for $665 million. $PII PR link.
LPL Financial(PBR543 $LPLA) faces challenges as it mulls alternatives. MarketWatch PR link.
Tesla(PBR651) $25.83/share $2.6 billion stock deal to acquire Solar City($SCTY) to be voted on by both shareholder groups on 11/17/16. $TSLA PR link.
SunEdison(PBR782) receives notification from SEC, conducting a fact-finding investigation, accompanied by DOJ subpoena. $SUNEQ PR link.
PC Connection(PBR786) to acquire NJ based 500 partners 25,000 OEM-authorized partners in 174 countries IT procurement & service management co GlobalServe. $CNXN PR link.
Wells Fargo(PBR30) chairman/CEO John Stumpf retires; president/COO Tim Sloan elected president/CEO. $WFC PR link.
Fiserv(PBR474) hires Devin McGranahan as president/Billing & Payments Group, effective 11/01/16, succeeds leaving Rahul Gupta. $FISV PR link.
The US Federal Reserve releases the FOMC minutes for the 09/20-21/16 meeting. Anticipates federal funds rate increase soon. FRB PR link.
The US Dept of Labor says August US Job Openings at 5.443 million, -6.6% from July, +2.5% from August 2015. USDOL PR link.
PC Market: Chromebooks destroyed Apple in back-to-school shopping. MarketWatch PR link.
CBRE(PBR301) study finds San Francisco the nation’s greenest city. $CBG PR link.
Tuesday, October 11:
GE(PBR9) to acquire Denmark’s global designer & manufacturer of wind turbine blades LM Wind Power for $1.65 billion. $GE PR link.
Altria Group(PBR110) now has 9.6% voting stake in Anheuser-Busch InBev; expands $1 billion share repurchase program to $3 billion, to be completed by 06/30/18. $MO PR link.
ConAgra(PBR166) to complete spin-off of potato foods provider Lamb Weston as an independent public company on 11/09/16; increases existing share repurchase program to $1.25 billion. $CAG PR link.
YUM!(PBR217) details transformation plans after planned 10/31/16 separation of YUM China. $YUM PR link.
Molson Coors(PBR558) completes acquisition of full ownership of MillerCoors & global Miller brand portfolio. Now 3rd largest world brewer by enterprise value. $TAP PR link.
Domino’s Pizza(PBR889) 111 Boston area stores to hire 1,000 new team members. $DPZ PR link.
Intl Flavors & Fragrances(PBR666) promotes Richard O’Leary to EVP/CFO, succeeds leaving Alison Cornell. $IFF PR link.
CoreLogic says August Housing Seriously Delinquencies at 1.085 million, -1.6% from July, -20.6% from August 2015. CoreLogic PR link.
CoreLogic analysis shows between $4 billion and $6 billion in insured property loss from Hurricane Matthew: CoreLogic PR link.
NFIB says September Small Business Optimism Index at 94.1, August was 94.4, September 2015 was 96.0. NFIB PR link.
Monday, October 10:
The PBR1000 Fun Fact: The September Top 5 by Value(Market Cap) were(Snapshot 15):
1. Apple(PBR3), $AAPL, $609 billlion
2. Alphabet(PBR34), $GOOGL, $534 billion
3. Microsoft(PBR31), $MSFT, $449 billion
4. Amazon(PBR19), $AMZN, $397 billion
5. Facebook(PBR147), $FB, $368 billion
The PBR1000 Total: $21.133 trillion
Range: $609 billion to $0 billion
Average: $21 billion
Median: $6.4 billion
Become a The PBR1000 Subscriber today to get the full list of 1,000 plus 14 more insightful Snapshots!
Coca-Cola(PBR63) exercises call option to acquire Anheuser-Busch InBev‘s stake in Coca-Cola Beverages Africa. $KO PR link.
Tyson Foods(PBR80) to take 5% ownership stake in private plant-based protein producer Beyond Meat. $TSN PR link.
Duke Energy(PBR114) completes exit of international business in 2 deals from Central & South America valued at $1.2 billion each. $DUK PR link.
Facebook(228) makes its Workplace internal communications app available to any organization that wants to use it. $FB PR link.
Ross Stores(PBR253) opens 34 new stores in Sept/Oct, has added 93 stores in 2016. $ROST PR link.
Calpine Corp(PBR330) to acquire largest US independent power suppier to commercial/industrial retail customers Noble Americas Energy Solutions for $900 million. $CPN PR link.
TeleFlex(PBR923) gets FDA clearance for ARROW®JACC with Chlorag+ard® Technology central venous catheter and Tunneler. $TFX PR link.
Level 3 Communications(PBR375) promotes Andrew Dugan to CTO, Atilla Tinic to CIO. $LVLT PR link.
Blackhawk Network(PBR998) promotes David Tate to SVP/US Retail. $HAWK PR link.
Samsung issues update on Galaxy Note7 Safety Recall and Exchange Program. Samsung PR link.
Friday, October 7:
The PBR1000 Week Ending 10/07/16 US Stock Exchanges Recap:
DJIA ends week at 18,240.49, -0.37%% from last Friday/MTD/QTD, +4.68% YTD, -2.12% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,292.40, -0.37% from last Friday/MTD/QTD, +5.69% YTD, -0.88% from record 5,339.52 on 09/22/16.
SPX ends week at 2,153.74, -0.67% from last Friday/MTD/QTD, +5.37% YTD, -1.66% from record 2,190.15 on 08/15/16.
Johnson & Johnson(PBR37) affiliate Cilag GmbH International acquires outside the US rights from AstraZeneca for nasal spray Rhinocort Aqua for $330 million. $JNJ PR link.
Merck(PBR70) Animal Health unit gets USDA approval for innovative canine flu bivalent vaccine. $MRK PR link.
Oracle(PBR78) announces final extension of $109/share, $9.3 billion tender offer for NetSuite to expire 11/04/16. $ORCL PR link.
PPG Industries(PBR190) looking to reduce costs, okays new additional $2 billion share repurchase program, balance is $2.520 billion. $PPG PR link.
Mylan(PBR346) agrees to $465 million settlement with DOJ on Medicaid rebate classification for EpiPen auto-injector. $MYL PR link.
Carlyle Group(PBR581) to acquire Total affiliate specialty chemicals company Atotech for $3.2 billion. $CG PR link.
Pinnacle West(PBR620) subsidiary APS becomes only utility outside California to generate 1 gigawatt of solar energy capacity. http://bit.ly/2dKeTTZ
Intl Flavors & Fragrances(PBR666) completes acquisition of Philadelphia based $85 million/yr flavors developer David Michael. $IFF PR link.
The US Dept of Labor says US September Available Workforce at 159.9 million, 152.0 million Employed, 7.9M Unemployed, 5.0% Unemployment Rate. USDOL PR link.
The US Dept of Commerce estimates US August Wholesale Sales at $444.2 billion, +0.7% from July, +0.6% from August 2015. USDOC PR link.
The US Federal Reserve Bank estimates August Total US Consumer Credit Outstanding at $2.712 trillion, +0.7% from July, +6.3% from August 2015 FRB PR link.
Thursday, October 6:
The PBR1000 Stocks Fun Fact: The September YTD Top 5 Stock Gainers were(Snapshot 12):
1. Cliffs Natural Resources(PBR836), $CLF, +270%
2. Quad/Graphics(PBR480), $QUAD, +187%
3. Cloud Peak Energy(PBR989), $CLD, +162%
4. Navistar(PBR265), $NAV, +159%
5. Titan International(PBR950), $TWI, +157%
The PBR1000: +7.4%
DJIA: +5.1%
NASDAQ: +6.1%
SPX: +6.1%
Range: +270% to -99%, 666/1,000 companies were +0.00%, Median was +8.86%.
Walmart(PBR1) projects opening 130 new stores in US in FY2017, 55 in FY2018, to accelerate e-commerce offering. $WMT PR link.
CIT Group(PBR608) to sell its CIT Commercial Air unit to Avolon Holdings for $10.0 billion, to close by end of 1Q2017. $CIT PR link.
Blackhawk Network(PBR998) completes $118 million cash acquisition of UK based 20,000 clients global branding services provider Grass Roots Group. $HAWK PR link.
American Banking Assn says 2nd Quarter Consumer Delinquencies Composite Ratio at 1.35%, record low. ABA PR link.
Wednesday, October 5:
The PBR1000 Stocks Fun Fact: The September Top 5 Stock Gainers were:
1. Navistar(PBR265), $NAV, +63%
2. Conn’s(PBR910), $CONN, +52%
3. Scientific Games(PBR689), $SGMS, +37%
4. Liberty Media(PBR474), $LMCA, +34%
5. Cloud Peak Energy(PBR989), $CLD, +32%
Range: +63% to -42%, 491/1,000 companies were +0.00%, median was -0.10%.
MetLife(PBR39) to separate into 2 separate public companies with Brighthouse Financial filing Form 10 Registration Statement. $MET PR link.
Alcoa(PBR115) completes 1:3 reverse stock split. $AA PR link.
Eli Lilly(PBR142) subsidiary Elanco Animal Health to acquire Boehringer Ingelheim Vetmedica’s US feline, canine & rabies vaccines portfolio – as well as a fully integrated manufacturing and R&D site – for $885 million. $LLY PR link.
PSEG(PBR257) to retire two New Jersey coal plants on 06/01/16, generates 1,252 MW, employs 200. $PEG PR link.
Lennar(PBR340) completes $2.2 billion fund raising for long term development & ownership of Class A multifamily communities. $LEN PR link.
Constellation Brands(PBR377) to acquire Utah-based 70,000 cases/year high end High West Distillery. $STZ PR link.
Gannett(PBR414) acquires Golfweek, to be part of USA TODAY Sports Media Group. $GCI PR link.
LAM Research(PBR520) $10.6 billion planned acquisition of KLA-Tencor(PBR692 $KLAC) terminated by mutual agreement. $LRCX PR link.
Arch Coal(PBR691) completes financial restructuring, emerges from Chapter 11 bankruptcy, to re-list on NYSE: ARCH. $ACIIQ PR link.
Scientific Games(PBR937) acquires Karma Gaming‘s portfolio of interactive games used globally. $SGMS PR link.
Cincinnati Bell(PBR1027) completes 1:5 reverse stock split. $CBB PR link.
Red Robin(PBR1046) closes 9 restaurants, rebrands 3 others as Red Robin Express in strategic reevaluation of alternative fast casual platform. $RRGB PR link.
AIG(PBR46) hires Peter Solmssen as EVP/General Counsel, succeeds retiring Thomas Russo. $AIG PR link.
Advance Auto Parts(PBR279) hires Thomas Okray as EVP/CFO, effective 10/31/16, succeeds leaving Mike Norona. $AAP PR link.
Bristow Group(PBR919) hires Bill Collins as SVP/Global Operations. $BRS PR link.
The US Dept of Commerce estimates US August Manufacturing New Orders at $453.2 billing, +0.2% from July, -1.6% from August 2015. USDOC PR link.
The US Dept of Commerce says Total US Exports August YTD at $1.459 trillion, Imports $1.790 trillion, Deficit $331 billion. USDOC PR link.
ADP(PBR235) estimates US September Employment up 154,000, 34,000 from small businesses, 56,000 midsize, 64,000 large. $ADP PR link.
Markit says US September Composite PMI Output Index at 52.3, August was 51.5, July 51.8. Markit PR link.
The Institute for Supply Management says US September Non-Manufacturing Index at 57.1%, August was 51.4%, July 55.5%. ISM PR link.
Tuesday, October 4:
LKQ(PBR376) acquires UK‘s 102 locations auto parts distributor Andrew Page Ltd, terms not disclosed. $LKQ PR link.
Newell Brands(PBR434) in new growth game plan to sell off 10% of its portfolio companies that generate $1.5 billion in revenues, consolidate operations, & create a global e-commerce division. $NWL PR link.
Ascena Retail(PBR499) in Change for Growth program reorganizing into 4 business units serving 8 brands. $ASNA PR link.
WhiteWave Foods(PBR624) shareholders approve $56.25/share, $12.5 billion cash acquisition by France’s global food company Danone. $WWV PR link.
Concho Resources(PBR734) completes $1.625 billion 40,000 net Midland Basin acres acquisition, now has 150,000+ net acres. $CXO PR link.
SandRidge Energy(PBR975) emerges from Chapter 11 bankruptcy with $525 million in liquidity, starts trading again on NYSE: $SD. $SD PR link.
Vail Resorts(PBR1032) $46.80/share, $1.8 billion cash/stock acquisition of mountain resort Whistler Blackcomb gets Canada Act approval, expected to close on 10/17/16. $MTN PR link.
Discovery Communications(PBR399) to name Gunnar Wiedenfels as CFO, effective around 04/01/17, to succeed departing Andrew Warren. $DISCA PR link.
Dynegy(PBR777) promotes Martin Daley to EVP/COO, Carolyn Burke to EVP/Strategy, Mario Alonso to EVP/Plant Operations, names rest of executive management team. $DYN PR link.
PurdueU/CME September Ag Barometer at 101, August was 95, July 112; continues to favor livestock. PU/CME PR link.
Monday, October 3:
Ford(PBR10) US September Sales at 204,447 vehicles, -8% from year ago, best 2016 month for F-Series vehicles. $F PR link.
Illinois to suspend $30 billion in investment activity with Wells Fargo(PBR30 $WFC). MarketWatch PR link.
Microsoft(PBR31) increases European cloud investment to $3 billion, unveils cloud policy recommendations. $MSFT PR link.
Capital One(PBR116) to be exclusive long-term card issuing partner with Cabela’s(PBR606) upon completion of acquisition by Bass Pro Shops. $COF PR link.
Community Health System(PBR125) adopts a short-term stockholder protection rights agreement. $CYH PR link.
Tenet Healthcare(PBR161) to pay $514 million per agreement with federal & state authorities for improper referral source arrangements at 4 hospitals. $THC PR link.
Penske Automotive(PBR170) acquires Audi, Land Rover, Volvo & 3 Porsche franchises in Bologna area of N Italy, to add $200 million in annual revenues. $PAG PR link.
Allergan(PBR219) gets exclusive worldwide license from AstraZeneca for $250 million plus up to $1.27 billion to develop & commercialize Crohn’s Disease therapy MED12070. $AGN PR link.
RR Donnelley(PBR243) completes spinoff of LSC Communications(NYSE: LKSD) & Donnelley Financial(NYSE: DFIN); Daniel Knots is new CEO; completes 3 for 1 reverse stock split. $RRD PR link.
Marathon Oil(PBR250) sells certain non-operated assets in W Texas/New Mexico for $235 million, has sold $1.5 billion in non-core assets since 08/15. $MRO PR link.
Air Products(PBR267) completes spinoff of electronics materials division now called Versum Materials(NYSE: VSM). $APD PR link.
Dover(PBR343) to sell Tipper Tie, its global supplier of processing & clip packaging machines, to JBT Corp(NYSE: JBT) for $160 million. $DOV PR link.
Dover(PBR343) acquires Italy’s global automotive service equipment manufacturer Ravaglioli SpA for $274 million. $DOV PR link.
Salesforce(PBR453 $CRM) to buy data startup Krux for $700 million. MarketWatch PR link.
TeamHealth(PBR498) acquires 150 physicians 100 advanced practice clinicians Florida Emergency Physicians, serve 600,000 patients/year. $THC PR link.
Cabela’s(PBR606) to be acquired by Bass Pro Shops for $65.50/share, $5.5 billion. $CAB PR link.
CIT Group(PBR608) sells $700 million in assets 135 employees Canadian equipment finance & corporate finance businesses to Laurentian Bank of Canada. $CIT PR link.
Green Plains(PBR649) acquires world’s largest manufacturer & marketer of food-grade industrial vinegar Fleischmann’s Vinegar Co for $250 million. $GPRE PR link.
Tesla(PBR651) 3Q16 production at 15,800 Model S, 8,700 Model X, total 24,500, 2Q16 total was 18,345. $TSLA PR link.
AMSURG(PBR945) Sheridan division acquires N California’s 38 physicians covering 7 facilities Fidere Anesthesia Consultants. $AMSG PR link.
American Capital Agency(PBR992) completes name change to AGNC Investment Corp. $AGNC PR link.
Dick’s Sporting Goods(PBR367) promotes Lee Belitsky to EVP/CFO. $DKS PR link.
A. Schulman(PBR791) hires John Richardson as EVP/Finance, to succeed Joseph Levanduski as CFO on 11/01/16. $SHLM PR link.
Plexus(PBR807) promotes Steve Frisch to EVP/COO. $PLXS PR link.
The US Dept of Commerce estimates US August Total All Construction Annual Rate at $1.142 trillion, -0.7% from July, -0.3% from August 2015. USDOC PR link.
Inst for Supply Management says US September PMI at 51.5%, August was 49.4%, July 52.6%. ISM PR link.
Markit says US September PMI at 51.5, August was 52.0, weakest upturn in new orders for 9 months. Markit PR link.
TrueCar estimates Total September US Auto Sales at $47 billion, -0.3% from September 2015; Average Price $33,090, +2.0% from September 2015. TrueCar PR link.
Automotive News estimates Total September US Vehicles Sold was 1,434,483, -5.1% from August, -0.7% from September 2015. Automotive News PR link.
Survey says Holiday Retail Shopping to Increase 4%. CFO.com PR link.
(The PBR1000 is the premiere business intelligence service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate nearly $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to The PBR1000 subscribers. Users worldwide include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisors, business professors/students, human resources/career counselors/job seekers, federal/state/local government agencies, social causes organizations, to name just a few. To order your monthly or significantly discounted annual subscription, just go to the PBRMarketTools.com Subscribe page.)
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