December 2015: The End of a Volatile Year,
the Start of a _________ Year???
The Oil industry had a big impact on us in 2015.
How will it affect 2016?
By Larry C. Paxton
The end of December 2015 finally came to an end and for many it was with a big sigh of relief. For everyone it left with big question marks about what lies ahead in 2016.
Economic indices showed moderate growth at best. But the Federal Reserve finally took the big step in December 2015 of doing its first minimal interest rate hike in several years. Now the big questions are what metrics will the Fed use in 2016, how many interest rate hikes are anticipated? Oil prices plummeted, but the OPEC nations plan to maintain production. After 40 years the U.S. ban on oil exports ended, and the first shipment left on the last day of the year. Predictions on oil in 2016 are all over the place. Which logic will prevail? U.S. car drivers have benefited from lower prices at the pump, but the expected increase in spending in other areas does not appear to have materialized. Will it in 2016? Because growth was moderate many companies found it necessary to either acquire or be acquired. Mergers and acquisitions were at a record level. Will this continue in 2016? A lot of leadership changes are scheduled for the beginning of 2016. What directions will we see from this new blood in 2016? Internationally results were mixed as well. China is experiencing less robust growth. The European economy was stagnant. The recent climate change treaty has implications for all countries involved, but what will be the level of follow up and what will be the real results? Most experts predict a rather flat year for 2016 internationally, with continued volatility. Are the assumptions used realistic or are they just being extra cautious? With 2015 behind us, there are an endless number of variables to consider when trying to make predictions for 2016. It is in our human nature, especially the competitive part of us, to publicly make projections, and get some recognition, especially if we have been right a few times in the past. It makes good press, but sometimes it does seem like a futile exercise in wishful thinking. As for me, I will keep my predictions private, hope for the best, but if you are more brave, let us know how you fill in the blank for yourself.
Happy New Year, let 2016 begin, let’s do our best, be optimistic, and let’s see how the year unfolds!
Following are The PBR1000 and economic related news items of note for December 2015, starting with the last active day.
Thursday, December 31:
The PBR1000 End of 2015 US Stock Exchanges Snapshot:
DJIA closes 2015 at 17,425.03, -0.72% from last Friday, -1.66% MTD, +7.00% QTD, -2.23% YTD.
NASDAQ closes 2015 at 5,007.41, -0.81% from last Friday, -1.98% MTD, +8.38% QTD, +5.73% YTD.
SPX closes 2015 at 2,043.94, -0.83% from last Friday, -1.75% MTD, +6.45% QTD, -0.73% YTD.
EMC Corp(PBR111 $EMC) $850 million/year cost reduction plan includes job cuts, most by end of 1Q2016 at $250 million cost. SEC filing link.
The US Dept of Labor says 12/26/15 Initial Unemployment Claims was 287,000, +20,000 from previous week, insured unemployment rate at 1.6% USDOL PR link.
FreddieMac(PBR41) says 30 Year Fixed Mortgage Rates on 12/31/15 averaged 4.01%, +0.05% from previous week, 0.6 points/fees. $FMCC PR link.
NuStar(PBR673) & ConocoPhillips(PBR53 $COP) exporting US oil shipment from Corpus Christi, TX, first since 40 year ban lifted on 12/18/15. $NS PR link.
Housing: Why first-time home buyers are staying on the sidelines. MarketWatch article link.
Economy: December Chicago PMI falls to 42.9, -5.8 from November. MNI/ISM Chicago article link.
Entertainment: ‘Star Wars,’ ‘Jurassic World’ push box office to record-breaking year. MarketWatch article link.
Investing: 2015 year in review: The S&P 500’s winners and losers. MarketWatch article link.
Energy: 2015 Gas Prices Second-Cheapest in a Decade, ends year at $2.00/gal. AAA Year-End Gas Price Report. AAA article link.
Wednesday, December 30:
Icahn Enterprises(PBR147 $IEP) files SEC Form 8 regarding its planned acquisition of Pep Boys(PBR872 $PBY) for $18.50/share. SEC filing link.
Facebook(PBR228) Oculus unit blogs that every Oculus Rift will ship with VR adventure game Lucky’s Tale. $FB filing link.
Range Resources(PBR726) completes $865 million sale of its southwest Virginia 3,500 wells, 460,000 acres, Nora assets. $RRC PR link.
Opinion: And the award for the worst forecast of 2015 goes to… MarketWatch article link.
2016 predictions: The six tech trends that will rule. MarketWatch article link.
IMF head Lagarde warns of disappointing growth in 2016. MarketWatch article link.
Tuesday, December 29:
DuPont(PBR82) to cut 1,700 jobs in Delaware ahead of spinoffs. $DD PR link.
QUALCOMM(PBR106) signs 3G/4G Chinese patent agreements with Tianyu & Haier. $QCOM PR link. $QCOM PR link.
Community Health System(PBR125) to acquire 80% interest in Indiana University Health 227 bed & 50 bed hospitals. $CYH PR link.
Activision Blizzard(PBR540 $ATVI) named big winner this holiday, as ‘Call of Duty’ sales soar. MarketWatch PR link.
Tesla(PBR651 $TSLA) plans to hire thousands more as competition heats up. MarketWatch article link.
Beacon Roofing(PBR818) to acquire Denver based residential/commercial roofing supplies company Statewide Wholesale, terms not disclosed. $BECN PR link.
Japanese based Bridgestone says it will not counter Icahn Engerprises(PBR147) $18.50/share bid for Pep Boys(PBR872). Bridgestone PR link.
Fairchild Semiconductor(PBR1000) receives unsolicited $21.70/share offer from unnamed source, counters On Semiconductor $20.00/share bid. $FCS PR link.
Sysco(PBR61) promotes Tom Bené to president/COO effective 01/01/16. $SYY PR link.
Triumph Group(PBR578) hires Daniel Crowley as president/CEO, effective 01/04/16. Succeeds founder Richard Ill. $TGI PR link.
The US Dept of Commerce says the 3Q2015 US Net International Investment Position was $23.312 trillion in assets, $30.582 trillion in liabilities, for a -$7.270 trillion balance. USDOC PR link.
Sentier Research says November Median Household Income at $56,746, 1st time exceeds pre-recession level of December 2007. Sentier article link.
Consumer Confidence Improves Nearly Four Points to 96.5 in December. Conference Board article link.
S&P/Case-Shiller says the October US National Home Price Index was at 175.65, was 175.47 in September. S&P/C-S article link.
Opinion: 10 dividend stocks for safe income as interest rates rise in 2016. MarketWatch article link.
Monday, December 28:
Apple(PBR5 $AAPL) on track to to deliver about 75 million iPhones in 1Q2016. MarketWatch article link.
General Electric(PBR9 $GE) to acquire private precision cooling hole manufacturing NJ based company Metem, terms not disclosed, to close 1Q2016. MarketWatch article link.
Amazon(PBR29) says 3 million new Prime subscribers in 3rd week of December, other holiday records set. $AMZN PR link.
Intel(PBR51) completes $54/share, $16.7 billion acquisition of field-programmable gate array technology company Altera(PBR903 $ALTR). $INTC PR link.
Walt Disney(PBR57 $DIS)‘s ‘Star Wars’ the fastest to earn $1 billion at box office. MarketWatch PR link.
Willis Tower Watson to replace Fossil Group(PBR617 $FOSL) on S&P 500 on 01/04/16. MarketWatch PR link.
Pep Boys(PBR872) gets new $18.50/share bid from Icahn Enterprises(PBR147). $PBY PR link.
Freeport-McMoRan(PBR128) Chairman/Co-Founder James Moffett stepping down, named Chairman Emeritus, director Gerald J Ford elected Non-Executive Chairman. $FCX PR link.
Manitowoc(PBR579) hires Barry Pennypacker as president/CEO of soon to be public spinoff Manitowoc Cranes. $MTW PR link.
MasterCard(PBR291) says US holiday retail sales rose 7.9%, eCommerce up 20% over 2014. $MA PR link.
Dealogic data shows 2015 M&A volume surpasses $5 trillion. PRNewswire PR link.
Friday, December 25:
***Christmas Day***
Let there be Peace on Earth.
Stock Markets Closed.
Thursday, December 24:
***Christmas Eve***
US Stock Markets close early for the week at 1PM Eastern.
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA closes week at 17,552.17, +2.47% from last Friday, -0.95% MTD, +7.78% QTD, -1.52% YTD.
NASDAQ closes week at 5,048.49, +2.55% from last Friday, -1.18% MTD, +9.27% QTD, +6.60% YTD.
SPX closes week at 2,060.99, +2.77% from last Friday, -0.93% MTD, +7.34% QTD, +0.10% YTD.
Nike(PBR98) 2:1 stock split in effect.
Pep Boys(PBR872) gets new $17/share offer from Japan’s Bridgestone, regarded as superior to Icahn Enterprises(PBR147) bid. MarketWatch article link.
Apparel retailers saw online sales spike on >strong>’Manic Monday.’ MarketWatch article link.
3 reasons U.S. oil is trading at premium to global benchmark MarketWatch article link.
Wednesday, December 23:
Norfolk Southern(PBR242) board unanimously rejects revised merger proposal from Canadian Pacific. $NSC PR link
BB&T(PBR277) receives federal regulatory approvals for $1.8 billion acquisition of National Penn Bancshares. To close in next few months. $BBT PR link
Salesforce(PBR453) to acquire quote-to-cash platform software developer SteelBrick for $360 million. http://1.usa.gov/1Ogjs5B$CRM SEC filing link
Hubbell(PBR632) shareholders approve consolidation of Class A & B stocks into one common stock, symbol now HUBB. $HUBB PR link
The US Housing and Urban Development estimates that November Sales of New Single-Family Houses were at a 490,000 annual rate, +4.3% from October, +9.1% from November, 2014. HUD PR link
The US Dept of Commerce says November Total Personal Income was at a $15.618 trillion annual rate, +0.3% from October, Personal Savings Rate was at 5.5%, -0.1% from October. USDOC PR link
Jobs/Housing: 15 cities with the best job and housing prospects. MarketWatch article link
The U of Michigan says the Final December Index of Consumer Sentiment was at 92.6, the highest level since July. UMich PR link.
Tuesday, December 22:
Cisco(PBR60) completes $452.5 million acquisition of private network security company Lancope. $CSCO PR link.
Celgene(PBR347) settles cancer treatment drug REVLIMID® patent litigation. $CELG PR link.
Cliffs Natural Resources(PBR518) completes sale of remaining N American coal business for $268 million. $CLF PR link.
Vornado Realty Trust(PBR738) sells leasehold interest in 473,000 sf Manhattan office building 20 Broad St for $200 million aggregate consideration. $VNO PR link.
Vornado Realty Trust(PBR738) completes $450 million financing of St. Regis Fifth Avenue Retail. $VNO PR link.
Penn Natl Gaming(PBR750) gets agreement with Scientific Games(PBR937 $SMGS) subsidiary Bally Gaming to provide Prairie State Gaming customers next-generation video gaming terminals and exclusive new game content. $PENN PR link.
Hillenbrand(PBR962) to acquire highly-engineered valves for water, power, & mining developer/manufacturer Red Valve for $131.9 million cash. $HI PR link.
Meredith Corp(PBR994) gets new 10 year licensing agreement for Martha Stewart Media Brands. $MDP PR link.
CF Industries(PBR502) promotes Terry Huch to VP-Supply Chain, succeeds Christopher Bonn who is now SVP-Manufacturing. $CF PR link.
Abercrombie & Fitch(PBR595) promotes Fran Horowitz to new position of President/Chief Merchandising Officer. $ANF PR link.
Under Armour(PBR668) hires Chip Molloy as CFO, effective 01/19/16. $UA PR link.
Bright Horizons(PBR1018) promotes chief development officer Stephen Kramer to president, effective 01/01/16. Other executive promotions announced. $BFAM PR link.
The US Dept of Commerce says the 3rd Quarter Gross Domestic Product 3rd Estimate was at a 2.0% annual rate, $18.060 trillion. USDOC PR link.
The National Assn of Realtors says November Existing Home Sales were at a 4.760 million annual rate, -10.5% from October, median price $220,300. NAR PR link.
Freddie Mac(PBR41) in its December Insight & Outlook forecasts 2016 2.5% GDP, drop in value of family mortgage originations. $FMCC PR link.
Amazon(PBR29) will account for more than half of 2015 e-commerce growth, says Macquarie. MarketWatch PR link.
Monday, December 21:
Apple(PBR5) CEO Tim Cook is interviewed on CBS’ 60 Minutes by Charlie Rose. CBS article/video link.
Walt Disney(PBR57) crosses $5 billion in global box office for 2015 as “Star Wars: The Force Awakens” posts record $529 million global, $248 million domestic debut. $DIS PR link.
Ingram Micro(PBR62) completes $175 million acquisition of the e-commerce fulfillment business of public Netherlands based DOCdata. $IM PR link.
Staples(PBR122) offers $1.25 billion in divestitures for Office Depot(PBR182 $ODP) acquisition, rejected by FTC, litigation being pursued to get deal. $SPLS PR link.
Icahn Enterprises(PBR147 $IEP) raises offer for Pep Boys(PBR872 $PBY) to $16.50/share after Bridgestone matches previous $15.50/share bid. MarketWatch article link.
Marriott Intl(PBR211) announces closing of $500 million construction loan for 2 million sq ft, 1,500 room Gaylord Rockies Resort and Convention Center, to create 12,000 construction and hotel jobs. $MAR PR link.
NetApp(PBR405) to acquire SolidFire for $870 million cash, accelerates adoption of all-flash data centers. $NTAP PR link.
Lithia Motors(PBR451) acquires Spokane, WA, based $50 million/year Barton Chrysler Jeep Dodge Ram Alpha Fiat. $LAD PR link.
CF Industries(PBR502) & Netherlands’ based OCI change jurisdiction of new company of $8 billion merger from the UK to the Netherlands. Close planned for mid 2016. $CF PR link.
Arthur J Gallagher(PBR515) acquires Midwest retail insurance provider Peoria, IL, based The Hawk Agency. $AJG PR link.
International Economy: China reveals focus of its 2016 economic plan. MarketWatch article link.
Money: Here’s all the money in the world, in one chart. MarketWatch article link.
Corporate Deals 2015: 10 most remarkable corporate deals of 2015. MarketWatch article link.
Friday, December 18:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA closes week at 17,128.45, -0.79% from last Friday, -3.34% MTD, +5.18% QTD, -3.90% YTD.
NASDAQ closes week at 4,923.08, -0.21% from last Friday, -3.63% MTD, +6.56% QTD, +3.95% YTD.
SPX closes week at 2,005.52, -0.34% from last Friday, -3.60% MTD, +4.45% QTD, -2.59% YTD.
Wells Fargo(PBR30) to sell crop insurance businesses to US subsidiary of Zurich Insurance for up to $1.05 billion. $WFC PR link.
Southern Co(PBR155) to acquire controlling interest in Kern County, CA, 200 megawatt solar facility from Canadian Solar subsidiary. $SO PR link.
Tenet Healthcare(PBR161) to provide healthcare services to Aetna(PBR49 $AET)‘s 8.5 million members in new 4 year agreement. $THC PR link.
Bristol-Myers Squibb(PBR185) to sell its HIV R&D portfolio to ViiV Healthcare for $350 million up front with $2.5 billion in future incentives. $BMY PR link.
Air Products(PBR267) files initial SEC Form 10 for spinoff of Materials Technologies business as Versum Materials, scheduled for 09/16. $APD PR link.
Darden Restaurants(PBR398) authorizes new $500 million share repurchase program, increases dividend 14%. $DRI PR link.
Windstream(PBR426) begins ultra-fast 1 Gbps service in Lexington, KY, to launch in 5 markets in 1H2016. $WIN PR link.
Windstream(PBR426) completes $575 million cash sale of its data center business to TierPoint. $WIN PR link.
Arthur J Gallagher(PBR515) acquires Atlanta, GA, based Managed Healthcare Solutions. $AJG PR link.
Arthur J Gallgher(PBR515) acquires midwest retail insurance broker Brown Hobbs & McMurray. $AJG PR link.
Diebold(PBR676) forms new joint venture with China IT firm Inspur to provide ATMs & kiosks in Chinese market. $DBD PR link.
Beacon Roofing(PBR818) acquires 20 branch residential/commercial distributor Dallas based Roofing & Insulation Supply. $BECN PR link.
JCPenney(PBR234) hires Therace Risch as EVP-Chief Information Officer, effective immediately. $JCP PR link.
Allison Transmission(PBR865) global sales, marketing & services SVP Mike Headly retiring, effective 03/31/16. $ALSN PR link.
Red Robin(PBR1046) hires Jonathan Muhtar as SVP-Chief Marketing Officer, reports to EVP-Chief Concept Officer Denny Marie Post. $RRGB PR link.
Thursday, December 17:
Cameron Intl(PBR269) stockholders approve $14.8 billion acquisition by Schlumberger, expected to close 1Q2016. $CAM PR link.
Avon(PBR303) gets $605 million equity investment from Cerberus, Avon North America to become separate private entity, quarterly dividends suspended. $AVP PR link.
Arthur J Gallagher(PBR515) acquires Australia based Strathearn Insurance Brokers. $AJG PR link.
Boston Properties(PBR803) completes sale of 26 acre, San Jose, CA, 4 office buildings Innovation Place for $207 million. $BXP PR link.
Corrections Corp(965) gets 10 year, 2 5 year renewable options, $25 million/year award for Red Rock, AZ, corrections center. $CCA PR link.
Apple(PBR5) promotes Jeff Williams to COO, Johny Srouji SVP-Hardware Technologies; Tor Myhren to join as VP Marketing Communications in 1Q2016. $AAPL PR link.
DeVry(PBR905) hires Joe Mozden as VP-Workforce Solutions. $DV PR link.
Society: 5 key takeaways about parenting in changing times. Pew Research article link.
Wednesday, December 16:
AIG(PBR46) adds $3.0 billion to share buyback program, balance now $4.3 billion. $AIG PR link.
Coca-Cola Enterprises(PBR327) files SEC registration to combine CCE, CCIP, & CCEAG into Coca-Cola European Partners, to close by 2Q2016. $CCE PR link.
Blackstone(PBR352) completes acquisition of leading global tier 1 engine component manufacturer MB Aerospace. $BX PR link.
PulteGroup(PBR428) to acquire 7,400 controlled lots, 280 homes in backlog, from from John Wieland Homes for up to $450 million. $PHM PR link.
Albemarle(PBR792) to sell its Mineral Flame Retardants and Specialty Chemicals businesses to Huber Engineered Materials. $ALB PR link.
AMSURG(PBR945) has acquired Atlanta area 60 physicians Northside Anesthesiology Consultants. $AMSG PR link.
Key Energy(PBR1001) to seek stockholder approval for reverse stock split with ratio exceeding 1:10 to regain NYSE listing requirement. $KEG PR link.
Carnival Corp(PBR184) SVP Heidi Capozzi to succeed retiring Tony Parasida as head of human resources, effective 03/01/16. $CCL PR link.
Genworth Financial(PBR287) promotes EVP Kevin Schneider to COO, effective 01/01/16. $GNW PR link.
NASDAQ(PBR618) promotes Adena Friedman to president/COO, effective immediately. $NDAQ PR link.
Avista Corp(PBR990) promotes Roger Woodworth to president, Avista Development division. $AVA PR link.
The US Federal Reserve Board votes 10-0 to a 0.25% increase in discount rate, eff 12/17/15. FRB PR link.
The US Dept of Commerce says the November New Private Housing Building Permits Issued Annual Rate was at 1,289,000, +11.0% from October, +19.5% from November 2014. USDOC PR link.
The US Federal Reserve says that November Industrial Capacity Utilization was -0.5% to 77.0%, -3.1% from long-run (1972–2014) average. FRB PR link.
Tuesday, December 15:
Halliburton(PBR90) & Baker Hughes(PBR108 $BHI) provide update on merger status, extending closing date to no later than 04/30/16 pending discussions with US Dept of Justice. $HAL PR link.
Expedia(PBR433) completes $3.9 billion acquisition of 1.2 million alternative accommodations space HomeAway. $EXPE PR link.
Ascena Retail(PBR499) authorizes $200 million share repurchase program. $ASNA PR link.
Activision Blizzard(PBR540) profits have helped fund 17,500 quality careers for veterans, goal is 25,000 by 2018. $ATVI PR link.
Global Payments(PBR762) to acquire Heartland Payment Systems(PBR821 $HPY) for $100/share, $4.3 billion. $GPN PR link.
Clearwater Paper(PBR898) announces $100 million stock repurchase program. $CLW PR link.
DeVry(PBR905) authorizes 9th share repurchase program, for $100 million through 12/31/17. $DV PR link.
DeVry(PBR905) Brasil has acquired 96.4% of Grupo Ibmec Educacional, has 15,000 students. $DV PR link.
PharMerica(PBR911) completes acquisition of 2 more healthcare companies, achieves 2015 goal of acquisitions with total of over $100 million in revenues. $PMC PR link.
Parker-Hannifin(PBR218) promotes Mark Hart to EVP, Human Resources & External Affairs, effective 01/01/16, succeeds retiring Dan Serbin. $PH PR link.
Starwood Hotels(PBR417) EVP/CFO Thomas Mangas to become CEO effective 12/31/15, Alan Schnaid being promoted to CFO. $HOT PR link.
JM Smucker(PBR437) names new president for Big Heart Pet Food and Snacks, for corporate strategy, expanded role for SVP/CFO. $SJM PR link.
Scientific Games(PBR937) promotes Michael Quartieri to EVP/CFO & Secretary. $SGMS PR link.
The US Dept of Labor says November Worker Current Earnings averaged $25.25/hr, 34.5 hrs/week, $871.13 weekly pay, -0.13% from October, +2.0% from November 2014. USDOL PR link.
The US Dept of Labor says that the November All Urban Consumer Price Index was +0.0% from October, +0.5% over the last 12 months. USDOL PR link.
Monday, December 14:
The PBR1000 November Snapshots have been emailed to Subscribers. Not an Annual or Monthly Subscriber yet? Just click here!.
Boeing(PBR27) raises share repurchase authorization to $14 billion, ups dividend 20%. $BA PR link.
Micron Technology(PBR180) to acquire remaining 67% interest in Inotera Memories of Taiwan for $0.92/share, $3.2 billion. $MU PR link.
Newell Rubbermaid(PBR434) to acquire Jarden(PBR324 $JAH) for $60/share cash/stock, to be called Newell Brands, be a $16 billion/year consumer products company, to close 2Q16. $NWL PR link.
Arthur J Gallagher(PBR515) acquires Western US retail insurance broker Colorado based Centennial Insurance Agency. $AJG PR link.
IGT(PBR878) gets agreement with Oklahoma’s Kaw Nation to provide casino management systems & games to its two locations. $IGT PR link.
BlueLinx(PBR892) to seek approval at annual stockholders meeting for 1:10 reverse stock split. $BXC PR link.
Fairchild Semiconductor(PBR1000) declines unsolicited $21.70/share offer, will proceed with $20.00/share buy offer from ON Semiconductor(PBR656 $ON). $FCS PR link.
DuPont(PBR82) announces some executive leadership retirements and promotions/re-assignments. $DD PR link.
Hershey(PBR354) hires Rob Gehrig as Global Chief Sales Officer, effective 01/18/16. $HSY PR link.
Barnes & Noble(PBR408) hires Bill Wood as Chief Information Officer, reports to CEO Ron Boire. $BKS PR link.
Black Hills(PBR1009) promotes Linn Evans to president/COO, effective 01/01/16. $BKH PR link.
Friday, December 11:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA closes week at 17,265.21, -3.26% from last Friday, -2.57% MTD, +6.02% QTD, -3.13% YTD.
NASDAQ closes week at 4,933.47, -4.06% from last Friday, -3.43% MTD, +6.78% QTD, +4.17% YTD.
SPX closes week at 2,012.37, -3.79% from last Friday, -3.27% MTD, +4.81% QTD, -2.26% YTD.
Ford(PBR10) had November European Sales of 101,500 vehicles, +20.5% from October, total Europe market share is 7.9%. $F PR link.
Lockheed Martin(PBR64) delivers 2,500th C-130 Hercules, 1st delivery was 12/09/56. $LMT PR link.
DuPont(PBR82) & Dow Chemical(PBR48 $DOW) to merge in all stock deal, form DowDuPont, then separate into 3 independent public companies. $DD PR link.
Atmel(PBR1004) confirms receipt of unsolicited $9.00 cash/share offer, already has $4.6 billion cash/stock offer from UK based Dialog Semiconductor. $ATML PR link.
Caterpillar(PBR54) Resource Industries group president Ed Rapp to retire; will turn his focus to fighting Amyotrophic Lateral Sclerosis (ALS). $CAT PR link.
DISH Network(PBR196) announces promotions to president/COO, EVP-Strategic Planning, Chief Accounting Officer, others. $DISH PR link.
Carlisle Cos(PBR650) to promote pres/COO D. Christian Koch to CEO effective 01/01/16; David A. Roberts continues as Chairman. $CSL PR link.
The US Dept of Labor says the November Producer Price Index Final Demand was +0.3% from October, with Goods at -0.1%, Services +0.5%, & 12 mos at -1.1%. USDOL PR link.
The US Dept of Commerce says October Manufacturing & Trade Sales were $1.318 trillion, September was $1.320 trillion, Oct 2014 was $1.354 trillion. USDOC PR link.
The US Dept of Commerce in Advance report says November Retail/Food Services Sales were at $448.1 billion, October was $447.1 billion, November 2014 was $442.1 billion. USDOC PR link.
Thursday, December 10:
Ford(PBR10) investing additional $4.5 billion by 2020 in electrified vehicle solutions. $F PR link.
Bank of America(PBR24) resubmitted capital plan accepted without objection by the Federal Reserve Board. $BAC PR link.
ConocoPhillips(PBR53) sets $7.7 billion capital expenditure plan for 2016, 25% less than 2015. $COP PR link.
YUM!(PBR217) to return up to $6.2 billion to stockholders before China spinoff as an independent public company. $YUM PR link.
Visteon(PBR351) announces $3.75 billion special cash distribution to shareholders, authorizes $500 million share buyback program. $VC PR link.
Herbalife(PBR487) chairman/CEO Michael Johnson does net transaction exercise involving 280,000 stock appreciation rights. $HLF PR link.
Electronics Arts(PBR527) starts EA Competitive Gaming Division, to be lead by EVP-Chief Competitive Officer Peter Moore. $EA PR link.
T Rowe Price(PBR570) appoints William Stromberg as president/CEO, effective 01/01/16, increases share buyback program to 20.9 million shares. $TROW PR link.
Arch Coal(PBR691) receives non-compliance notice from NYSE, capitlization under $50 million. $ACI PR link.
AIG(PBR46) announces new executive leadership structure, including new CFO. $AIG PR link.
Occidental Petroleum(PBR123) promotes Vicki Hollub to president/COO, to become CEO at 2016 annual meeting. $OXY PR link.
Whole Foods(PBR203) hires Tien Ho for new position of global VP of culinary & hospitality. $WFM PR link.
Yahoo!(PBR519) CEO Marissa Mayer announces birth of identical twin girls. $YHOO PR link.
Rackspace(PBR935) hires Alex Pinchev as EVP/president of global sales & marketing, effective 01/01/16. $RAX PR link.
The US Dept of Labor says November US Imports Prices were -0.4% from October. November Exports Prices were -0.6% from October. USDOL PR link.
The US Dept of Treasury reports November Government Receipts of $205.0 billion, Outlays $270.0 billion, Deficit $65.0 billion. Fiscal YTD Deficit(2 months) is $201.1 billion, was $178.5 in November 2014. Treas PR link.
The US Federal Reserve Board says in 3rd Quarter Z1 Report that Household Debt was at $14.1 trillion, Business Debt $12.6 trillion, Government Debt $17.5 trillion, Total Nonfinancial Debt $44.2 trillion. FRB PR link.
Analysis: America’s middle class has lost nearly 30% of wealth. MarketWatch article link.
Wednesday, December 9:
Freeport-McMoRan(PBR128) suspends dividend program, cutting oil & gas expenses. $FCX PR link.
CSX(PBR226) to move from NYSE to NASDAQ on 12/21/15, to keep CSX symbol. $CSX PR link.
Computer Sciences(PBR237) to acquire UK based commercial insurance industry software developer Xchanging for $720 million. $CSC PR link.
BlackRock(PBR252) Investment Institute releases 2016 Outlook. $BLK PR link.
Yahoo!(PBR519) suspends plan to spinoff Alibaba holdings, considering transfer of Yahoo! assets & liabilities to a new public company. $YHOO PR link.
Orbital ATK(PBR655) resupply mission Cygnus spacecraft berths with International Space Station. $OA PR link.
SunEdison(PBR782) acquisition of Vivint Solar amended, Blackstone(PBR352 $BX) to be key stakeholder, provide $250 million credit facility. $SUNE PR link.
Curtiss-Wright(PBR837) has new $200 million share repurchase program for 2016. $CW PR link.
Express(PBR860) authorizes up to $100 million for new share repurchase program. $EXPR PR link.
The US Dept of Commerce says October Merchant Wholesalers Sales at $448.0 billion, -0.0% from September, -3.7% from October 2014. USDOC article link.
Tuesday, December 8:
Morgan Stanley(PBR79) to cut 1,200 jobs. MarketWatch article link.
QUALCOMM(PBR106) gets slapped with antitrust charges by the European Union. MarketWatch article link.
Icahn Enterprises(PBR147) & related entities boost stake in Hertz(PBR259) to 14.3%. MarketWatch article link.
Bristol-Myers-Squibb(PBR185) completes up to $2.1 billion acquisition of private biotech company Cardioxyl Pharmaceuticals. $BMY PR link.
L-3 Communications(PBR238) selling its National Security Solutions business to CACI Intl(PBR612 $CACI) for $550 million cash. $LLL PR link.
Norfolk Southern(PBR242) says Canadian Pacific’s revised unsolicited $91.62/share offer is less than previous unacceptable offer. $NSC PR link.
MasterCard(PBR291) to start a $4 billion share repurchase program upon completion of $786 million remaining under current plan. $MA PR link.
Wynn Resorts(PBR427) chairman/CEO Stephen Wynn buys 1 million shares on the open market, now holds over 11 million shares. $WYNN PR link.
Arthur J Gallagher(PBR515) acquires Mississippi based McPherson Benefits Group, terms not disclosed. $AJG PR link.
Interactive Exchange(PBR556) to close $5.2 billion cash/stock deal for Interactive Data Corp on 12/14/15. $ICE PR link.
NASDAQ(PBR618) to acquire alternate trading platform Chi-X Canada, to close 1Q2016, terms not disclosed. $NDAQ PR link.
Pep Boys(PBR872) determines Icahn Enterprises(PBR147) $15.50/share bid is superior to Bridgestone’s $15.00/share. $PBY PR link.
Fairchild Semiconductor(PBR1000) receives unsolicited $21.70/share offer, has $20.00/share offer from ON Semiconductor(PBR656 $ON). $FCS PR link.
CIT Group(PBR608) appoints executive leaders for CIT Bank NA, Chief Risk Officer, Business Capital, & Treasurer. $CIT PR link.
The US Dept of Labor says October Private Job Openings at 4,887,000, was 5,041,000 in September, 4,440,000 in October 2014. USDOL PR link.
CoreLogic says October Homes in Foreclosure at 463,000, was 589,000 in October 2014. CoreLogic report download.
Manpower(PBR132) in employment outlook forecasts continued optimism for hiring, stable at start of 2016. $MAN article link.
Monday, December 7:
General Electric(PBR9) terminates its $3.3 billion appliances unit sale to Sweden based Electrolux. $GE PR link.
Staples(PBR122) $6.3 billion acquisition of Office Depot(PBR182 $ODP) being blocked by FTC, companies to contest decision. $SPLS PR link.
Omnicom(PBR192 $OMC) wins bulk of Proctor & Gamble(PBR33 $PG)’s North America business. MarketWatch article link.
CBRE Group(PBR301) acquires national services leader for Affordable Housing act, 50+ employee Tax Credit Group. $CBG article link.
Keurig Green Mountain(PBR507) to be acquired by JAB Holding for $92/share, $13.9 billion, expected to close 1Q2016. $GMCR PR link.
Keurig(PBR507)’s buyout turns Coca-Cola(PBR63)’s $1 billion loss into a profit. MarketWatch article link.
Carlyle Group(PBR581) acquires Toronto based displays & store fixtures for global prestige cosmetics industry provider Array, terms not disclosed. $CG article link.
Pep Boys(PBR872) gets $15.50/share offer from Icahn Enterprises(PBR147), already has $15.00/share bid from Japan’s Bridgestone. MarketWatch article link.
HollyFrontier(PBR140) promotes EVP/COO George Damiris to president/CEO effective 01/01/16. CEO Michael Jennings to be executive chairman. $HFC PR link.
Marriott Intl(PBR211) EVP/CFO Carl Berquist to retire 12/31/15, subsidiary Ritz-Carlton CFO Lenny Oberg to become CFO 01/01/16. $MAR PR link.
YUM!(PBR217) CFO Patrick Grismer resigning, effective 02/19/16. $YUM article link.
Gannett(PBR414) hires Joanne Lipman to new position of Chief Content Officer & Daniel Bernard to Chief Product Officer, both report to pres/CEO. $GCI article link.
American Axle & Mfg(PBR602) hires Timothy Bowes SVP-Corporate Planning. $AXL article link.
HealthSouth(PBR800) hires Patrick Darby as EVP-General Counsel/Corporate Secretary, effective mid 02/16. $HLS article link.
Energy: Oil settles at lowest levels since early 2009. MarketWatch article link.
The US Federal Reserve says October Consumer Total Credit Outstanding at $3.512 trillion, +0.46% from September, +5.89% YTD. FRB PR link.
Friday, December 4:
The PBR1000 End of Week US Stock Exchanges Snapshot:
DJIA closes week at 17,847.63, +0.28% from last Friday, +0.72% MTD, +9.60% QTD, +0.14% YTD.
NASDAQ closes week at 5,142.27, +0.29% from last Friday, +0.66% MTD, +11.30% QTD, +8.58% YTD.
SPX closes week at 2,091.69, +0.08% from last Friday, +0.54% MTD, +8.94% QTD, +1.59% YTD.
Norfolk Southern(PBR242) rejects unsolicited, low-premium, highly conditional cash/stock offer from Canadian Pacific. $NSC PR link.
NCR(PBR383) closes $820 million equity investment from Blackstone(PBR352), adds 2 members to the board. $NCR PR link.
Pep Boys(PBR872) shares surge as Carl Icahn(PBR147 $IEP) takes 12.12% stake. MarketWatch article link.
Groupon(PBR652) promotes Jay Sullivan to Chief Product Officer, makes leadership changes in North American segment. $GRPN PR link.
Donaldson Co(PBR783) hires Scott Robinson as VP/CFO. $DCI PR link.
The US Dept of Labor says November Available Workforce at 157.3 million, 149.4 million employed, unemployment rate stays at 5.0%. USDOL PR link.
The US Dept of Commerce says October Total Exports at $184.1 billion, Imports $228.9 billion, deficit $43.9 billion, was $42.4 billion in September. USDOC PR link.
Thursday, December 3:
GE(PBR9) releases statement: 5 Things You Should Know About The GE/Alstom Deal. $GE PR link.
Express Scripts(PBR22) has 265 million shares available for buyback program after additional 60 million authorized. $ESRX PR link.
Anthem(PBR38) shareholders approve $54.2 billion acquisition of Cigna(PBR85), close planned for 2nd half 2016. Cigna shareholders also approve. $ANTM PR link.
Avon(PBR303) is sent letter by Barington Capital Group regarding several concerns about performance. $AVP PR link.
NRG Energy(PBR186) CEO Dave Crane steps down, EVP/COO Mauricio Gutierrez becomes president/CEO. $NRG PR link.
TECO Energy(PBR758) shareholders approve $10.4 billion acquisition by Emera, expected to close mid 2016. $TE PR link.
Windstream(PBR426) promotes Sarah Day to president, Consumer/Small Business, effective 01/01/16, reports to CEO. $WIN PR link.
The US Dept of Commerce says October Manufacturing New Orders were at $473.9B, +1.5% from September, -7.1% YTD from 2014. USDOC PR link.
Wednesday, December 2:
General Dynamics(PBR94) authorizes 10 million shares for share buyback program. $GD PR link.
AutoNation(PBR148) reports retail new vehicle unit sales of 25,555 in November 2015, -6% from November 2014. $AN PR link.
Genworth Financial(PBR287) completes adjusted $490 million sale of its lifestyle protection insurance business to France based AXA SA. $GNW PR link.
PulteGroup(PBR428) has $305 million for share buyback program after adding $300 million. $PHM PR link.
Cabela’s(PBR606) announces it is exploring strategic alternatives, including possible sale of company. $CAB PR link.
SuperValu(PBR164) hires Eric Claus as CEO of its Save-A-Lot hard-discount grocery segment. $SVU PR link.
American Financial(PBR435) promotes John Rogers to divisional VP & Chief Information Security Officer. $AFG PR link.
Cabot Corp(PBR607) president/CEO Patrick Prevost to take medical leave of absence for minor stroke, expects to return 01/16. $CBT PR link.
American Eagle Outfitters(PBR640) Exec Chairman Jay Schottenstein also CEO, no longer interim. $AEO PR link.
The US Dept of Labor says 3rd Quarter 2015 Nonfarm Business Labor Productivity grew at a +2.2% annual rate, output +1.8%, hours worked -0.3% USDOL PR link.
The US Federal Reserve Board releases Beige Book, says economic activity generally increased at a modest rate. FRB PR link.
The US Federal Reserve Board chairman Yellen moves Fed to brink of December rate hike. MarketWatch article link.
ADP(PBR235) says US Private Business Sector added 217,000 jobs in November. $ADP PR link.
Equifax(PBR795) says 3rd quarter US Consumer Debt grew to $10.5 trillion, +2.3% from 3rd quarter 2014. $EFX PR link.
Discover Financial(PBR286) says 2015 Holiday Consumer Spending to rise after 2014 dip. $DFS PR link.
Vanguard says bull market will keep sparkling in 2016 MarketWatch article link.
MasterCard(PBR291) says holiday season starting out strong, 4.6% US retail growth in November. $MA PR link.
News: 14 dead and many injured in San Bernardino shooting.
Tuesday, December 1:
Amazon(PBR29) says its Fire TV is #1 best seller streaming media player in US, sales up 6x year over year. $AMZN PR link.
Capital One(PBR116) completes acquisition of General Electric(PBR9) Capital’s Healthcare Financial Services business. $COF PR link.
Goodyear Tire(PBR157) combines N & S America units, names new leaders for American, EMEA regions. $GT PR link.
Tenet Healthcare(PBR161) to sell Atlanta area 5 hospitals, 26 physician clinics to regional network WellStar Health. $THC PR link.
Zuckerberg, wife pledge 99% of Facebook(PBR228 $FB) shares to charity to mark daughter’s birth. MarketWatch article link.
Henry Schein(PBR270) has $425 million share repurchase program balance after $400 million added. $HSIC PR link.
Systemax(PBR623) completes $14 million sale of certain of its North American Technology Group assets, including TigerDirect, to PCM, Inc. (NASDAQ: PCMI). $SYX PR link.
TD Ameritrade(PBR662) to move from NYSE to NASDAQ, effective 12/14/15, keeps AMTD symbol. $AMTD PR link.
Beacon Roofing(PBR818) acquires 5 branch residential/commercial distributor RCI Roofing Supply, terms not disclosed. $BECN PR link.
IDEX(PBR861) authorizes additional $300 million for share repurchase program. $IEX PR link.
Scientific Games(PBR937) gets new contract with West Virginia Lottery to supply its Connexus system to monitor 14,000 gaming machines in 1,350 locations. $SGMS PR link.
Ford(PBR10) announces senior leadership changes for some business units. $F PR link.
Alaska Air(PBR454) promotes Greg Mays to VP of Labor Relations. $ALK PR link.
Sonoco Products(PBR480) announces senior leadership changes for primary business units. $SON PR link.
Institute for Supply Management says November Manufacturing PMI at 48.6, -1.5 from October, 12 month average is 51.9. ISM article link.
November US New Vehicle Sales: 1,284,735 units, +1.6% from Nov 2014; YTD: 15,485,092 units, +5.4% from 2014. Automotive News article link.
The US Dept of Commerce says the October Annual Construction Spending Rate was at $1,107.4 billion, +1.0% from September, +13.0% from October 2014. USDOC PR link.
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