(So, the 1st Quarter of 2014 is complete. Do we know which direction we are going yet?)
By Larry C. Paxton
A lot of mergers and acquisition deals in progress during late 2013 and early 2014 closed in March. There continues to be a lot of mixed signals about the recovery of the economy. Some experts say the bulls have plenty of more room to roam. Other experts say the markets are over extended, we are overdue for a correction, and the bears will be showing up soon.
Russia’s taking Ukraine’s Crimea area and the massing of troops in other areas are cause for concern, especially since a lot of Europe is dependent on Russian oil that goes through the Ukraine. Syria, Iran, and North Korea have been in the background for a while, will they soon emerge and what effect will they have on the world and US markets and economies?
Earthquakes around the world are being reported, will those cause the markets to shake as well? Obamacare seems to have met some important goals, what effect can that have on the economy?
As stated before, there are a lot of uncertainties, so it looks like we need some more time to see what direction the markets are going. Hopefully we all guess right before the year ends!
Following are the The PBR1000 March Breaking News Recaps, with the most current items first.
Monday, March 31, 2014:
Johnson & Johnson(PBR40) accepts The Carlyle Group(PBR654) offer of $4 billion to acquire J&J’s Ortho-Clinical Diagnostics unit. Click here for the J&J press release.
KKR(PBR257) acquires 80% stake in Japan’s Panasonic Corp’s Panasonic Healthcare medical equipment unit. Click here for the KKR press release.
General Motors(PBR7) announces $750 million 1st quarter expense for ignition switch & power steering recalls. Click here for the GM press release.
SunEdison(PBR732) closes funding of solar power plant in Chile, largest in South America. Click here for the SunEdison press release.
BE Aerospace(PBR634) to acquire oilfield rental company Vision Oil Tools for $145 million plus $35 million incentive. Click here for the BE Aerospace press release.
Thursday, March 27, 2014:
Baxter(PBR184) announces splitting into 2 companies, biopharmaceuticals & medical devices. Click here for the Baxter press release.
KKR(PBR257) & Investindustrial(NR) partner with UK based Babcock to by helicopter emergency services Avincis for $2.75 billion. Click here for the KKR press release.
Microsoft(PBR34) expands cloud services by making Office products available on Apple’s(PBR6) iPad. Click here for the Microsoft press release.
Yahoo!(PBR261) Japan buying SoftBank’s mobile service eAccess for $3.17 billion. Click here for the Yahoo! Japan press releases page.
Intel(PBR52) becomes largest stakeholder & collaborator in big data firm Cloudera. Click here for the Intel press release.
NRG Energy(PBR294) acquiring residential solar company Roof Diagnostics Solar(NR). Click here for the NRG press release.
Wednesday, March 26, 2014:
Bank of America(PBR21) settles with FHFA for $9.5 billion regarding residential mortgage backed securities. Click here for the BofA press release.
Tuesday, March 25, 2014:
Facebook(PBR448) to acquire virtual reality gaming firm Oculus for $2 billion. Click here for the Facebook press release.
Intel(PBR52) completes acquisition of privately held wearable health tracker BASIS Science. Click here for the Intel press release.
Monday, March 24, 2014:
Walt Disney Co(PBR64) to acquire YouTube network firm Maker Studio for $500 million plus $450 million incentive. Click here for the Disney press release.
Google(PBR55) in strategic partnership with Italian based world’s largest eyeware company Luxottica to promote Glass. Click here for the Luxottica press release.
Friday, March 21, 2014:
Regency Energy Partners(PBR1009) completes acquisition of PVR Partners(PBR1074) for $5.6 billion. Click here for the REP press release.
Nortek(PBR801) to acquire global HVAC company Thomas & Betts(NR) for $260 million. Click here for the Nortek press release.
Thursday, March 20, 2014:
NAR reports Feb existing home sales down 0.4% from Jan to 4.60 million annual rate, Feb median price was $189,000. Click here for the NAR press release.
Symantec(PBR354) CEO Steve Bennett terminated, board member Michael Brown appointed interim CEO. Click here for the Symantec press release.
Precision Castparts(PBR336) to acquire high speed machining Aerospace Dynamics International from The Marvin Group(NR) for $625 million. Click here for the Precision Castparts press release.
Wednesday, March 19, 2014:
JPMorgan Chase(PBR18) selling its physical commodities business to Mercuria Energy Group Ltd for $3.5 billion. Click here for the JPMorgan press release.
Tuesday, March 18, 2014:
Lockheed Martin(PBR58) buying German commercial airport services firm BEONTRA AG. Click here for the Lockheed Martin press release.
Monday, March 17, 2014:
Chesapeake Energy’s(PBR206) oilfield services subsidiary files SEC paperwork to become a separate company. Click here for the Chesapeake Energy press release.
American Express(PBR84) announces 50/50 joint venture for its Global Business Travel division. Click here for the AMEX press release.
Friday, March 14, 2014:
Textron(PBR208) completes its $1.4 billion acquisition of Beechcraft(NR). Click here for the Textron press release.
Liberty Global(PBR239) completes acquisition of VTR, Chile’s largest cable operator, for $422 million. Click here for the Liberty Global press release.
Thursday, March 13, 2014:
General Electric(PBR8) starts exit from its retail finance business by filing IPO registration for spin-off Synchrony Financial. Click here for the GE press release.
JetBlue Airways(PBR460) selling its LiveTV subsidiary to Thales Group(NR) for $400 million. Click here for the JetBlue press release.
AT&T(PBR12) completes its acquisition of Leap Wireless(PBR625). Click here for the AT&T press release.
Wednesday, March 12, 2014:
Lockheed Martin(PBR58) acquiring cybersecurity solutions provider Industrial Defender(NR). Click here for the Lockheed press release.
Graham Holdings(PBR540) selling Miami TV station WPLG to Berkshire Hathaway(PBR5) & buying Berkshire’s stake of 1.6 million Graham Class B shares. Click here for the Graham Holdings press release.
Tuesday, March 11, 2014:
After several attempts, Men’s Wearhouse(PBR766) to acquire Jos. A. Bank(NR) for $65/share, $1.8 billion. Click here for the Men’s Wearhouse press release.
Quest Diagnostics(PBR327) to acquire privately held onsite prevention & wellness programs provider Summit Health. Click here for the Quest Diagnostics press release.
NRG Energy(PBR294) acquiring the retail electric business of Dominion Resources(PBR199). Click here for the NRG press release.
Blackstone Group(PBR539) is acquiring majority stake in information security & services company Accuvant(NR). Click here for the Blackstone press release.
Monday, March 10, 2014:
Chiquita Brands(PBR638) to merge with Irish fruit company Fyffes plc by year end, $1.07 billion deal. Click here for the Chiquita press release.
Quest Diagnostics(PBR327) completes its acquisition of Solstace Lab Partners Group(NR) for $570 million. Click here for the Quest Diagnostics press release.
Sunday, March 9, 2014:
United Rentals(PBR525) is acquiring specialty pump rental company National Pump(NR) for $780 million. Click here for the United Rentals press release.
Friday, March 7, 2014:
MasterCard(PBR326) & VISA(PBR237) to start cross-industry effort for payment security, to implement EMV. Click here for the MasterCard press release.
Thursday, March 6, 2014:
Staples(PBR109) announces 4th quarter/full year results, to close 225 stores by end of 2015. Click here for Staples press release.
Cerberus Capital controlled Albertsons to acquire Safeway(PBR60) for $40/share, $9 billion, to close in 4th quarter. Click here for the Safeway press release.
KKR(PBR257) completes its acquisition of Southeastern Central Europe’s 1.89 million subscriber cable & pay TV operator United Group. Click here for the KKR press release.
Morgan Stanley(PBR88) sells majority stake in UK based Zenith Vehicle Contracts to HgCapital. Click here for the Zenith press release.
ABM Industries(PBR506) acquires San Diego based HVAC & energy solutions provider Alpha Mechanical(NR). Click here for the ABM press release.
Tuesday, March 4, 2014:
RadioShack(PBR510) announces FY2013 results, closing 1,100 stores, 5 year financing, changing fiscal year to end of January. Click here for RadioShack’s press release.
QUALCOMM(PBR136) increases stock repurchase program to $7.8 billion. Click here for the QUALCOMM press release.
QUALCOMM(PBR136) appoints Steve Mollenkopf as CEO, Dr. Paul Jacobs as Executive Chairman. Click here for the QUALCOMM press release.
Airgas(PBR474) acquires $10 million/year Welding & Therapy Service, Inc(NR) with its 5 locations in Indiana & Kentucky. Click here for the Airgas press release.
Monday, March 3, 2014:
The Carlyle Group(PBR654) is acquiring ADT Korea from Tyco International for $1.93 billion. Click here for The Carlyle Group press release.
Caesars Entertainment(PBR289) selling 4 properties to Caesars Growth Partners(NR) for $2.2 billion. Click here for the CE press release.
DISH Network(PBR180) & Walt Disney(PBR64) agree to multi-year sports, news, & entertainment package. Click here for DISH press release.
Valero Energy(PBR9) announces that Bill Klesse will step down as CEO on May 1, current Pres/COO Joe Gorder to become CEO. Click here for Valero press release.
(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.)
