(Did February help us better understand the business and economic puzzles?)
By Larry C. Paxton
There was much activity in February, more than expected for the shortest month of the year.
The stock market recovered a lot of ground from the losses in January, some indices closing at record levels.
But because of severe winter weather across much of the US, the attention to the Olympics, and then the unrest in the Ukraine at the end of the month, there continues to be a lot of uncertainty.
The US housing market, which was showing signs of recovery is once again a question mark. The jobs market is still confusing and difficult to accurately measure.
FY2013 earnings reports started flooding in with mixed results. There are experts who say the stock market has a lot of play left for advancement, others are predicting a major adjustment. The earnings from the major retailers started coming in towards the end of the month.
Congress seems to be more active, but concerns remain, especially with midterm elections coming up. The norm is that we will be flooded with a lot of negative campaigning. What effect will that have on business and on the markets?
ObamaCare seems to be gathering momentum with the end of March deadline looming for signups, which will be the true test. But it’s still to early to know what the real short term and long term impacts of ObamaCare will have on the economy.
As usual, following are the breaking news recaps for February that PBRMarketTools followed from The PBR1000, starting with the most current items.
Friday, February 28, 2014:
Chesapeake Energy(PBR206) is selling its midstream compression units for $520 million. Click here for the Chesapeake Energy press release.
Mattel(PBR366) to acquire Canadian toy construction sets company MEGA Brands(NR) for $460 million. Click here for the Mattel press release.
Wednesday, February 26, 2014:
General Electric(PBR8) to pay $1.7 billion to Japan’s Shinsei Bank for Grey Zone claims. Click here for the GE press release.
Tuesday, February 25, 2014:
SandRidge Energy(PBR699) completes $1.2 billion Gulf of Mexico operations sale to Fieldwood Energy(NR). Click here for the SandRidge press release.
Simon Property Group(PBR464) names Mark Ordan as CEO of soon to be REIT spinoff Washington Prime Group. Click here for the SPG press release.
Alcoa(PBR115) reaches power agreement for Quebec smelters, secure 3,000 jobs. Click here for the Alcoa press release.
Monday, February 24, 2014:
Eli Lilly(PBR119) animal health Elanco division is acquiring Germany based international poultry vaccine & feed additives company Lohman SE. Click here for the Lilly press release.
VMWare(PBR481) completes acquisition of mobile management & security solutions vendor AirWatch(NR) for $1.54 billion. Click here for the VMWare press release.
Sunday, February 23, 2014:
Comcast(PBR44) agrees to provide Netflix(PBR582) services to US broadband customers. Click here for the Netflix press release.
Friday, February 21, 2014:
Brookdale Senior Living(PBR689) acquiring Emeritus Corp(PBR961) for $2.8 billion. Click here for the Brookdale press release.
3M(PBR91) acquiring healthcare data analytics & business intelligence firm Treo Solutions(NR). Click here for the 3M press release.
Verizon(PBR16) completes its acquisition of Vodafone’s 45% interest in Verizon Wireless. Click here for the Verizon press release.
Wednesday, February 19, 2014:
Zale Corporation(PBR898) being acquired by Bermuda based Signet Jewelers(NR, NYSE: SIG) for $21/share, $1.4 billion. Click here for the Signet press release.
Facebook(PBR448) acquiring mobile messaging company WhatsApp(NR) for $19 billion. Click here for the Facebook press release.
Devon Energy(PBR267) announces $2.8 billion sale of Canadian assets to Canadian Natural Resources Ltd(NR). Click here for the Devon Energy press release.
Stryker Corp(PBR286) acquiring private hip arthroscopy company Pivot Medical, Inc(NR). Click here for the Stryker press release.
Tuesday, February 18, 2014:
Specialty pharmaceutical Actavis(PBR400) is acquiring Forest Labs(PBR483) for $25 billion. Click here for the Actavis press release.
Ameren(PBR351) elects Warner Baxter as president & board member, to become CEO 04/24/14. Click here for the Ameren press release.
Stryker Corp(PBR286) acquiring Germany based surgical infrastructure company Berchtold Holding AG for $172 million. Click here for the Stryker press release.
Broadcom(PBR309) selling its Ethernet controller assets to QLogic(NR) for $147 million. Click here for the Broadcom press release.
MetLife(PBR39) sells Assurance UK subsidiary with $5 billion in assets to UK’s Rothesay Life(NR). Click here for the MetLife press release.
Ashland(PBR301) is selling its Ashland Water Technologies unit for $1.8 billion. Click here for the Ashland press release.
Monday, February 17, 2014:
Anadarko(PBR192) is selling its Chinese subsidiary to Brightoil Petroleum(NR) for $1.075 billion. Click here for the Anadarko press release.
Sunday, February 16, 2014:
Google(PBR55) acquires Israeli security login startup SlickLogin. Click here for the SlickLogin announcement.
Friday, February 14, 2014:
Minerals Technologies(PBR1075) bids $42/share for AMCOL International Corp(NYSE: ACO), up from $41/share bid by France’s Imerys. Click here for the Minerals Technologies press release.
Apollo Global Management(PBR677) completes acquisition of CEC Corp(NR) & its 577 Chuck E Cheeses for $54/share. Click here for the Apache press release.
Thursday, February 13, 2014:
Time Warner Cable(PBR124) to merge with Comcast(PBR44) in all stock deal valued at $45.2 billion. Click here for the Comcast press release.
Wednsday, February 12, 2014:
Amazon.com(PBR46) hiring 2,500 full time employees w/benefits for US fulfillment centers. Click here for the Amazon.com press release.
FirstEnergy Corp(PBR169) completes sale of 11 hydroelectric power stations to Harbor Hydro Holdings(NR) for $395 million. Click here for the FirstEnergy press release.
Colfax Corp(PBR553) to acquire welding solutions firm Victor Technologies(NR) for $947.3 million. Click here for the Colfax press release.
Apache Corp(PBR156) selling Argentina operations for $852 million. Click here for the Apache press release.
Tuesday, February 11, 2014:
Time Warner’s(PBR94) TV Group acquiring 15 country TV production company Eyeworks. Click here for the Time Warner press release.
Monday, February 10, 2014:
The Carlyle Group(PBR654) is selling its plastics & rubber technology Veyance unit to Germany’s Continental AG for $1.9 billion. Click here for the Carlyle press release.
The Carlyle Group(PBR654) has sold its majority stake in India’s Cyberoam Technologies Private Limited to Sophos. Click here for the Carlyle press release.
Allegheny Technologies(PBR457) has acquired precision flowforming company Dynamic Flowform Corp. Click here for the ATI press release.
Friday, February 7, 2014:
KKR(PBR257) is acquiring optical retailer National Vision from private equity firm Berkshire Partners(NR). Click here for the Berkshire Partners press release.
Thursday, February 6, 2014:
Belden(PBR905) puts in $220 million binding offer for private broadcast equipment company Grass Valley. Click here for the Belden press release.
The Carlyle Group(PBR654) acquiring the Industrial Packaging Group from Illinois Tool Works(PBR145) for $3.2 billion. Click here for the Carlyle press release.
Verizon(PBR16) to list $500 million in retail notes on NYSE. Click here for the Verizon press release.
The Jacobsen unit of Textron(PBR208) buys zero-turn radius mower manufacturer Dixie Chopper. Click here for the Textron press release.
First American Financial(PBR486) is buying the Verisk Analytics(PBR969) mortgage fraud analytics unit Interthinx for $155 million. Click here for the FAF press release.
BlackRock(PBR269) acquiring 4th solar power plant from Canadian Solar(NR, NASDAQ: CSIQ). Click here for the Canadian Solar press release.
Mondelez Intl(PBR83) investing $130 million in new biscuit technology, closing Philly bakery by 2015. Click here for the Mondelez press release.
The board of General Dynamics(PBR89) authorizes repurchase of up to 20 million shares. Click here for the General Dynamics press release.
Wednsday, February 5, 2014:
CVS Caremark(PBR13) to stop selling tobacco products in all stores by October. Click here for the CVS press release.
Coca-Cola Co(PBR56) paying $1.25 billion for 10% stake in Green Mountain Coffee Roasters(PBR557) to develop Keurig Cold home beverage system. Click here for the Coca-Cola press release.
Tuesday, February 4, 2014:
Microsoft(PBR34) promotes from within, appoints Satya Nadella as CEO, effective immediately. Click here for Microsoft’s press release.
Morgan Stanley(PBR88) agrees to pay $1.25 billion to Freddie Mac(PBR32) & Fannie Mae(PBR11) to settle mortgage securities litigation. Click here for Morgan Stanley’s Form 8-K.
JPMorgan(PBR18) reaches $614 million settlement with US Dept of Justice, HUD, the VA, and FHA. Click here for JPMorgan’s press release.
The W.R. Grace(PBR623) board authorizes up to $500 million stock repurchase program over 12-24 months. Click here for WR Grace’s press release.
3M(PBR91) authorizes $12 billion share repurchase program. Click here for the 3M press release.
Monday, February 3, 2014:
The PBR1000 January Breaking News Recaps blog post has been published.
Bristol-Myers Squibb(PBR147) completes sale to AstraZeneca(NR) of its global diabetes unit for $3.4 billion. Click here for the BMS press release.
W.R. Grace(PBR623) emerges from Chapter 11 bankruptcy. Click here for the WR Grace press release.
Endo Health(PBR643) completes its acquision of specialty generics company Boca Pharmacal for $225 million. Click here for the Endo Health press release.
Regency Energy Partners(PBR1009) completes acquisition of midstream assets of Hoover Energy Partners. Click here for the RegencyEP press release.
Altria Group(PBR110) subsidiary Nu Mark buying e-vapor company Green Smoke(NR) for $130 million. Click here for the Altria press release.
Forest Laboratories(PBR483) completes the $2.9 billion acquisition of gastrointestinal & cystic fibrosis pharmaceutical Aptalis(NR), which will operate as a subsidiary. Click here for the Forest Labs press release.
AMC Networks(PBR1004) completes $1 billion buy of Liberty Global’s(PBR239) international content division Chellomedia. Click here for the AMC press release.
The The PBR1000 March Update Reports, the MS Excel reports with raw data, should be available in a few days.
What surprises are in store from The PBR1000 in March? Will it be a smooth ride? Probably not, but hopefully it is not too much of a roller coaster!
(The purpose of The PBR1000 is to provide a wide range of interested people with the premier key demographic, industry, financial, personnel, and comments/news briefs on over 1,000 of the largest publicly traded companies with principal offices in the US, companies that have a huge impact on the US and world economies. This information is updated monthly and published in MS Excel format as The PBR1000 Monthly Update Report. During a month several supplementary reports are published as well.
Larry C. Paxton is the President/CEO of Pax Business Resources, LLC. PBRMarketTools is the marketing research unit. For several years Larry has worked for and provided products and services to The PBR1000 companies.)
