February 2017: Business As Unusual
Maybe the Green Button Should Be a Lot Larger.
By Larry C. Paxton
The highlight for February was President Trump’s speech the evening of the last day of the month to a joint session of the US Congress. During that speech he briefly addressed hot topics like illegal immigration, refugees, healthcare, infrastructure projects, personal and corporate income tax reforms, international trade, military preparedness, and a few other topics that could have a significant impact not only on people and businesses in the US, but worldwide. During his first full month President Trump has generated a lot of executive orders, made some interesting and often controversial appointees, and the Republican Congress has started introducing legislation based on Trump’s directives. These should not be surprising since he is doing what he promised during the presidential campaign. Now there is some not unexpected organized resistance building. Predictions are all over the place. Make yours, but also guard your wallet! One thing for sure, there will be changes in the way businesses are run.
Here’s a quick February 2017 summary on key activities that relate to The PBR1000:
Mergers & Acquisitions: 24 deals worth at least $1 billion initiated, closed, or updated. Total transaction value was $136 billion.
Spinoffs: 2 completed or announced.
Share Repurchase Programs: 28 announced, total $36.6 billion.
Bankruptcies: 2 actions
CEO Changes: 14 announced.
Jobs: Modest growth.
US Economy: Modest/moderate growth continues, stable but fragile.
Federal Reserve Federal Funds Rate Changes: 0, remains 0.50-0.75%, increases anticipated in 2017.
International: Brexit, oil price fluctuations, Middle East conflicts, refugee crisis, N Korea nuclear/missile tests, upcoming European elections, climate change, US President Trump actions 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 February 2017, starting with the last active business day.
***Tuesday, February 28:
The PBRMarketTools February 2017 US Stock Exchanges Recap:
DJIA ends February at 20,812.24, -0.05% from last Friday, +4.77% MTD, +5.31% QTD/YTD, -0.12% from record 20,837.44 set 02/27/17.
NASDAQ ends February at 5,825.44, -0.34% from last Friday, +3.75% MTD, +8.22% QTD/YTD, -0.69% from record 5,865.95 set 02/21/17.
SPX ends February at 2,363.64, -0.16% from last Friday, +3.72% MTD, +5.57% QTD/YTD, -0.26% from record 2,369.75 set 02/27/17.
Target(PBR40) committing over $7 billion to enhance digital shopping, reimagine 600 stores, opening 130 small format stores by 2019, add 12 new exclusive brands. $TGT PR link.
Avnet(PBR100) adds $500 million to share repurchase program. $AVT PR link.
Staples(PBR122) keeps 15% equity in sale of $1.9 billion/yr European business to Cerberus Capital Management. $SPLS PR link.
Parker-Hannifin(PBR218) completes $83/share, $4.3 billion cash acquisition of filtration company CLARCOR(PBR983 $CLC). $PH PR link.
Ross Stores(PBR253) authorizes new 2 year $1.75 billion stock repurchase program. $ROST PR link.
Hershey(PBR354) strategy for future growth includes reducing global primarily hourly workforce outside of US by around 15%. $HSY PR link.
Oshkosh(PBR368) plans several activities and celebrations for it founding in 1917 and 100th year in business. $OSK PR link.
Charles Schwab(PBR409) lowers online equity/ETF trade commissions rate from $6.95 to $4.95/trade plus $0.65/option. $SCHW PR link.
LINN Energy(PBR484) emerges from Chapter 11 bankruptcy with $730 million in liquidity, debt reduced from $5 billion to $962 million. $LINEQ PR link.
Arthur J Gallagher(PBR515) acquires retail insurance broker Ace IRM Broking Group in Beenleigh, Queensland, Australia. $AJG PR link.
Orbital ATK(PBR655) authorizes additional $200 milllion share buyback, balance is $450 million, expires 03/31/18. $OA PR link.
TD Ameritrade(PBR662) reducing online equity & ETF trade commissions from $9.99 to $6.95, options pricing is $0.75/trade. $AMTD PR link.
Weight Watchers(PBR988) reports 2,621,100 subscribers at end of 2016, up 9.7% from 2015. $WTW PR link.
Waste Management(PBR206) elects board member Brad Anderson to chairman, succeeds deceased Bob Reum; VP Devina Rankin promoted to SVP/CFO. $WM PR link.
The US Dept of Commerce in 2nd estimate say US 4Q16 GDP Annual Rate remained at +1.9%, $18.856 trillion, +1.0% from 3Q16, +3.5% from 4Q15. USDOC PR link.
The US Dept of Treasury says 02/27/17 US National Debt at $19.931 trillion, -0.03% from 01/31/17, -0.23% YTD, +4.21% from 02/29/16. Treasury PR link.
FreddieMac(PBR41) US February Outlook examines how the US economy could be affected by which direction inflation goes. $FMCC PR link.
The Conference Board US February Consumer Confidence Index at 114.8(1985=100), January was 111.6, February 2016 94.0. TCB PR link.
The February MNI Chicago Business Barometer at 57.4, January was 50.3, February 2016 47.6(50=Neutral). MNI/ISM PR link.
The S&P Case-Shiller US December National Home Price Index is at 185.54(01/2000=100), November was 185.16, December 2015 175.29. Case-Shiller PR link.
AAA says 02/28/17 US Regular Gas Average Price/Gallon is $2.289, +0.7% from 01/31/17, +30.9% from 02/29/16. AAA PR link.
Gold(Electronic GCJ7 04/17) price at 02/28/17 close was $1,243. 40, +2.9% from 01/31/17, -0.1% from 02/29/17. GOLD PR link.
The Euro Price at the close of 02/28/17 was $1.0556, -2.2% from 01/31/17, -3.0% from 02/29/16. EURO PR link.
***Monday, February 27:
AT&T(PBR12) introduces new Unlimited Plus wireless and entertainment deals. $T PR link.
Johnson & Johnson(PBR37) completes $4.325 billion cash acquisition of Abbott Labs(PBR134 $ABT)’s Medical Optics vision care unit. $JNJ PR link.
T-Mobile(PBR95) customers with 2 lines or more get 3rd line free, or 3 lines for $100/month, starts 03/01/17. $TMUS PR link.
Avnet(PBR100) completes $2.6 billion cash/stock sale of global IT distributor Technology Solutions unit to Tech Data(PBR99 $TECD). $AVT PR link.
Spectra Energy(PBR422) $28 billion acquisition by Enbridge(NYSE: ENB) has been completed. $SE PR link.
Windstream(PBR426) completes $1.1 billion for 51% ownership of network services provider EarthLink(NASDAQ: ELNK). $WIN PR link.
Perrigo(PBR565) selling muscular sclerosis drug Tysabri® royalty stream to affiliate of Royalty Pharma for $2.2 billion cash plus up to $650 million based on future sales. $PRGO PR link.
SunPower(PBR680) starts construction on 56 megawatts Gala Solar Power Plant in Crook County, OR, to be largest operating solar facility in OR at end of 2017. $SPWR PR link.
Northrop Grumman(PBR113) promotes Janis Pamiljans to corporate VP & president, Aerospace Systems, effective 04/01/17, succeeds retiring Thomas Vice. $NOC PR link.
Allergan(PBR219) VP/Investor Relations Lisa DeFrancesco to leave for other opportunities after successor found. $AGN PR link.
M&T Bank(PBR504) president/COO Mark Czarnecki dies after extended illness. $MTB PR link.
Perrigo(PBR565) EVP/Business Operations/CFO Judy Brown leaving 04/01/17, SVP Ron Winowiecki appointed interim CFO; Svend Andersen promoted to EVP/president of Consumer Healthcare International unit. $PRGO PR link.
Olin Corp(PBR838) chairman Joseph Rupp to retire 04/27/17, president/CEO John Fischer to then add chairman role. $OLN PR link.
Kimco Realty(PBR982) promotes Ross Cooper to president & David Jamieson to COO. $KIM PR link.
***Friday, February 24:
The PBRMarketTools Week Ending 02/24/17 US Stock Exchanges Recap:
DJIA ends week at 20,821.76, +0.96% from last Friday, +4.82% MTD, +5.36% QTD/YTD, +0.00% from record 20,821.76 set 02/24/17.
NASDAQ ends week at 5,845.31, +0.12% from last Friday, +4.11% MTD, +8.59 QTD/YTD, -0.35% from record 5,865.95 set 02/21/17.
SPX ends week at 2,367.34, +0.69% from last Friday, +3.88% MTD, +5.74% QTD/YTD, +0.00% from record 2,367.34 set 02/24/17.
AES Corp(PBR171) and Alberta Investment Management Corp to acquire largest independent owner, operator, and developer of utility solar scale assets in the US( 1,274 MW) FTP Power from Fir Tree Partners for $853 million cash plus assumption of $724 million debt. $AES PR link.
JCPenney(PBR234) has net profit for 1st time since 2010, to close 2 distribution centers, 130-140 stores in next few months, offering early retirement to 6,000 eligible employees. $JCP PR link.
Hilton Worldwide(PBR262) authorizes up to $1 billion share repurchase program. $HLT PR link.
Wabash Natl(PBR917) authorizes an additional up to $100 million share repurchase program, balance is $115 million, expires in 2 years. $WNC PR link.
SunTrust Banks(PBR307) appoints 4 key executives to new roles, effective 04/03/17, in streamlining push. $STI PR link.
Flowserve(PBR492) EVP/CFO Karyn Ovelmen has left, VP/Investor Relations/Treasurer Jay Roueche III assumes interim CFO role during search for new CFO. $FLS PR link.
Graphic Packaging(PBR553) promotes Spencer Maurer to SVP/Supply Chain. $GPK PR link.
The US Dept of Commerce/HUD estimates US January New Family Home Sales/For Sale Annual Rate at 555,000 units, Median Price $312,900, -1.0% from December, +7.5% from January 2016. HUD PR link.
The U of Michigan says US Final February Consumer Sentiment Index at 96.3, January was 98.5, February 2016 was 91.7. UMich PR link.
***Thursday, February 23:
Merck(PBR70) to take $2.9 billion asset impairment charge in 2016 for Hepatitis Cuprifosbuvir study. $MRK PR link.
Sprint(PBR86) and Puerto Rico based 300 employee, 309 locations Open Mobile doing Puerto Rico & Virgin Islands joint venture. $S PR link.
Capital One(PBR116) in 10-K report says it withdrew its application for acquisition of Cabela’s(PBR606) credit card business due to regulatory issues, will re-apply when resolved. $COF PR link.
Stanley Black & Decker(PBR249) completes $725 million cash sale of majority Of Its Mechanical Security businesses to dormakaba. $SWK PR link.
Herbalife(PBR354) & Tianjin, China, 1,000+ patents, 18,000+ worldwide employees traditional Chinese medicine health products/services provider Tasly Holding Group to form joint venture within next 60 days. $HLF PR link.
LabCorp(PBR413) to acquire Spokane, WA, based 8 states lab services provider Pathology Associates Medical Laboratory from Providence Health & Catholic Health Initiatives, terms not disclosed. $LH PR link.
Spectra Energy(PBR422) $28 billion acquisition by Enbridge(NYSE: ENB) set to close 02/27/17. $SE PR link.
Rent A Center(PBR657) receives from key shareholder Engaged Capital a list of 5 nominees for 3 available board positions at next annual meeting. $RCII PR link.
Carter’s(PBR699) acquires global children’s products producer Skip Hop Holdings for $140 million cash & future performance payments up to $10 million. $CRI PR link.
Synopsys(PBR879) initiates $100 million accelerated share repurchase agreement by 05/27/17 with Wells Fargo(PBR30), follows $100 million ASR settled 02/16/17. $SNPS PR link.
Restoration Hardware(PBR915) authorizes up to $300 million share repurchase program, no expiration date. $RH PR link.
Hillenbrand(PBR962) adds $100 million to existing share repurchase program, balance is $129 million. $HI PR link.
Cigna(PBR85) promotes Christopher Hocevar to president/Strategy, Segments and Solutions; Michael Triplett to president/US Markets; Chief Medical Officer Alan Muney joins executive team; Eric Palmer to Deputy CFO, who will become CFO upon retirement of Thomas McCarthy this summer. $CI PR link.
Marathon Oil(PBR250) hires Dane Whitehead as EVP/CFO, starting around 03/06/17, interim CFO Patrick Wagner returns to SVP/Corporate Development & Strategy. $MRO PR link.
Celgene(PBR347) president/COO Jacqualyn Fouse, PhD, to retire on 06/30/17, Scott Smith being promoted to president/COO on 04/01/17. $CELG PR link.
Hershey(PBR354) incoming president/CEO Michele Buck names 8 person executive leadership team. $HSY PR link.
Wynn Resorts(PBR427) hires Craig Billings to be CFO starting 03/01/17, succeeds leaving Stephen Cootey. $WYNN PR link.
TeleFlex()PBR923) CEO Benson Smith to retire on 12/31/17, successor is president/COO Liam Kelly. $TFX PR link.
The US Dept of Labor says US 02/18/17 Total 4-Week Moving Average Unemployment Claims at 2,069,000, -1.1% from January, -7.7% from last year. USDOL PR link.
The US Energy Information Administration says US 02/17/17 Crude Oil Stocks were at 518.7 million barrels, +6.2% from 01/20/17, +8.9% from 02/19/16. EIA PR link.
The Federal Reserve Bank of Chicago US January National Activity Index estimated at -0.05, December was +0.18, January 2016 was +0.12. ChiFed PR link.
Freddie Mac(PBR41) says US Average 30 Year Fixed Mortgage Rate on 02/23/17 is 4.16% with 0.5 points/fees, 01/26/17 was 4.19%, 02/29/16 was 3.62%. $FMCC PR link.
***Wednesday, February 22:
ExxonMobil(PBR2) reports 20 billion oil-equivalent barrels of proven reserves at the end of 2016. $XOM PR link.
Aetna(PBR49) to do $3.3 billion accelerated share repurchase program of 20.8 million shares through two dealers. $AET PR link.
TJX Cos(PBR96) plans $1.3-1.8 billion in share repurchases by 02/03/18, has done $18 billion since 1997. $TJX PR link.
Dollar General(PBR151) to build its 16th distribution center, a 750,000 sf facility, in Amsterdam, NY, to employ 430 when completed in Fall 2018. $DG PR link.
Carnival Corp(PBR184) joint venture in China orders 2 new cruise ships to be built in China with option to order 4 more ships. $CCL PR link.
DISH(PBR196) reports 2016 revenues of $15.09 billion, ended with 13.671 million Pay-TV subscribers. $DISH PR link.
Henry Schein(PBR270) Medical unit gets exclusive distributor agreement for Rijuven’s CardioSleeve digital diagnostic device for use by medical practitioners. $HSIC PR link.
AMD(PBR446) taking pre-orders for its high performance 8 core AMD Ryzen™ 7 desktop processors, to be available 03/02/17. $AMD PR link.
Greenbrier Cos(PBR846) manufactures its 100,000th intermodal double stack railcar unit at its Gunderson facility in Portland, OR. $GBX PR link.
TeleFlex(PBR923) gets FDA 510(k) clearance for US commercialization of TrapLiner Catheter for vascular therapies. $TFX PR link.
Community Health Systems(PBR125) president of Financial Services/CFO W Larry Cash to retire 05/16/17, SVP/Finance Thomas Aaron to be CFO successor. $CYH PR link.
Viacom(PBR212) Paramount Pictures unit chairman/CEO Brad Grey to step down, search starts. $VIA PR link.
Tesla(PBR651) CFO Jason Wheeler leaving in 04/17 for public policy position, 1st CFO Deepak Ahuja returns to Tesla and CFO role in 03/17. $TSLA PR link.
The Federal Reserve issues the Federal Open Market Committee report from its 01/31-02/01/17 meeting, says labor market strengthening, economic activity expanding at a moderate rate, still below 2% goal. FOMC PR link.
The Natl Assn of Realtors says US January Existing Home Sales Annual Rate was at 5.69 million, +3.3% from December, +3.8% from January 2016. NAR PR link.
Harris Poll releases its 2017 Reputation Quotient Ratings of 100 companies, Amazon(PBR29 $AMZN) is #1 with RQ of 86.27. Harris PR link.
***Tuesday, February 21:
Verizon(PBR15) acquisition of Yahoo!(PBR519) reduced by $350 million to $4.48 billion cash, will share liabilities related to Yahoo breaches, expects to close in 2Q17. $VZ PR link.
Amazon(PBR29) launches up to 1 hour restaurant delivery service for Prime members in Las Vegas area, over 100 restaurants taking part. $AMZN PR link.
UPS(PBR47) to start 6 day ground service, rolling out delivery & pickup services on Saturdays in major metropolitan areas. $UPS PR link.
Bristol-Myers Squibb(PBR185) names 3 new independent directors per conversations with investor JANA Corp, authorizes $2 billion accelerated share repurchase program through 2Q17. $BMY PR link.
PNC Financial(PBR189) to acquire the $1.1 billion US portfolio of commercial & vendor finance business of ECN Capital. $PNC PR link.
KKR(PBR332) to acquire up to 40% stake in Europe & the Americas 16,000 towers telecom infrastructure owner & service provider Telxius. $KKR PR link.
Terex(PBR357) authorizes up to $350 million share repurchase program, to start when current $70 million balance is used. $TEX PR link.
Ashland(PBR407) eliminates 2 executive positions and consolidates leadership in anticipation of spinoff of Valvoline this spring. $ASH PR link.
Arthur J Gallagher(PBR515) acquires Madison, WI, retirement plan/wealth management firm Kelly Financial. $AJG PR link.
Thor Ind(PBR616) subsidiary Heartland to expand recreational vehicle products manufacturing & pre-delivery inspection by 500,000 sf across 3 facilities by 2017 end. $THO PR link.
TSYS(PBR790) to provide its PRIME platform to International Bank of Qatar for Visa/MasterCard & debit card issuing, and ATM acquiring business. $TSS PR link.
Vail Resorts(PBR908) makes first acquisition on the East Coast, Stowe Mountain Resort in Vermont, for $50 million. $MTN PR link.
Tronox(PBR946) to acquire the TiO2 business of private global mining company Cristal for $1.673 billion cash/stock. $TROX PR link.
SeaWorld(PBR948), in preliminary 2016 report, says it had 22.0 million visitors, looking at a debt refinancing transaction. $SEAS PR link.
Macy’s(PBR97) CEO transition scheduled for 03/23/17, president Jeff Gennette to become CEO, Terry Lundgren keeps executive chairman role. $M PR link.
CSX(PBR226) Chairman/CEO Michael Ward & President Clarence Gooden to retire 05/31/17, Fredrik Eliasson appointed President. $CSX PR link.
JetBlue(PBR429) promotes Steve Priest to EVP/CFO. $JBLU PR link.
Navient(PBR443) hires Christian Lown to be EVP/CFO starting 03/27/17, succeeds Somsak Chivavibul who becomes EVP/Chief Decision Management Officer. $NAVI PR link.
E*Trade(PBR930) study of self-directed investors with at least a $10,000 account balance shows that nearly seven out of ten conservatives surveyed believe the new administration will benefit their retirement portfolio, compared to only three out of ten liberals. $ETFC PR link.
***Monday, February 20:
***US Stock Markets Closed.
***Federal Holiday: Presidents’ Day
Freeport-McMoRan(PBR128) provides update on PT Freeport Indonesian operations, unable to reach a new agreement with government, to reduce investment and workforce. $FCX PR link.
Kraft Heinz(PBR156) amicably agrees to withdraw its $143 billion acquisition proposal for Unilever plc/NV in joint statement. $KHC PR link.
Cincinnati Bell(PBR981) acquires Troy, MI, based regional network security, data connectivity, and unified communications provider SunTel Services. $CBB PR link.
Brown-Forman(PBR563) hires Rachel Barrie as Whisky Maker for BenRiach, The GlenDronach, and Glenglassaugh distilleries. $BFB PR link.
***Friday, February 17:
The PBRMarketTools Week Ending 02/17/17 US Stock Exchanges Recap:
DJIA ends week at 20,624.05, +1.75% from last Friday, +3.83% MTD, +4.36% QTD/YTD, +0.00% from record 20,624.05 set 02/17/17.
NASDAQ ends week at 5,838.58, +1.82% from last Friday, +3.99% MTD, +8.46 QTD/YTD, +0.00% from record 5,838.58 set 02/17/17.
SPX ends week at 2,351.16, +1.51% from last Friday, +3.17% MTD, +5.02% QTD/YTD, +0.00% from record 2,351.16 set 02/17/17.
Aetna(PBR49) adds $4 billion to share repurchases program, balance is $5.1 billion. $AET PR link.
AbbVie(PBR136) authorizes an additional $5 billion for its share repurchase program, no time limit. $ABBV PR link.
Kraft Heinz(PBR156 $KHC) proposes $49.61/share, $143 billion acquisition of Unilever plc/NV, which issues statement saying offer is undervalued. Unilever PR link.
Nordstrom(PBR214) authorizes new $500 million share repurchase program through 08/31/18, current authorization has $529 million balance, expires 03/31/17. $JWN PR link.
Bloomin’ Brands(PBR536) 4Q16 revenues down 4.3%, plans to close 43 underperforming restaurants. $BLMN PR link.
Perrigo(PBR565) gets FDA approval for Hydrocodone Bitartrate and Homatropine Methylbromide Oral Solution(syrup) for symptomatic relief of cough. $PRGO PR link.
TeleFlex(PBR923) completes $56.00/share, $1 billion cash acquisition of medical devices developer Vascular Solutions(NASDAQ: VASC). $TFX PR link.
Aerojet Rocketdyne(PBR969) promotes Jerry Tarnacki to SVP of newly formed Space Business Unit. $AJRD PR link.
The Conference Board US January Leading Economic Index at 125.5(2010=100), +0.6% from December, which was +0.5% from November, which was +0.2% from October. TCB PR link.
***Thursday, February 16:
AT&T(PBR12) expands access to unlimited data, 4 lines for $180/month. $T PR link.
Sprint(PBR86) announces 4 line unlimited talk, text and data family plan for $90/month, includes $0/month for 18 months iPhone7 upgrade. $S PR link.
Medtronic(PBR133) gets FDA approval for Freezor® Xtra Cryoablation Catheter for abnormal heart rhythm treatment. $MDT PR link.
Penske Automotive(PBR170) completes acquisition of UK‘s 5 locations $340 million/year used vehicles retailer CarShop. $PAG PR link.
BB&T(PBR277) breaks ground in Mauldin, SC, on $30 million 140,000 sf mortgage servicing center, to have 600 employees. $BBT PR link.
Live Nation(PBR366)’s TicketMaster unit acquires 1 million tickets sold/year Poland/Czech Republic based TicketPro. $LYV PR link.
Blackstone(PBR352) acquires majority stake in UK based global cloud enabler Cloudreach, serves mid-market & large enterprises. $BX PR link.
Spectra Energy(PBR422) gets FTC approval for $28 billion acquisition by Enbridge(NYSE: ENB), expects to close in 1Q17. $SE PR link.
Sonoco Products(PBR480) to acquire thermoformed packaging for fruit/vegetables manufacturer Peninsula Packaging Co for $230 million cash. $SON PR link.
SunPower(PBR680) to supply 64.4 megawatts of solar power panels for 7 La Compagnie du Vent France based solar power plants. $SPW PR link.
Tempur Sealy(PBR687) adds $200 million to share repurchase program, balance is $227 million. $TPX PR link.
Universal American(PBR882) shareholders agree to $10/share, $600 million cash acquisition by Wellcare Health Plans(PBR221 $WCG), expects to close in 2Q17. $UAM PR link.
Verisk Analytics(PBR943) acquires UK based Healix Intl automated medical risk assessment for the travel industry subsidiary Healix Risk Rating. $VRSK PR link.
Cree(PBR964) terminates $850 million cash sale of Wolfspeed Power and RF division to Infineon Technologies AG(FSE: IFX) due to regulatory national security issues. $CREE PR link.
Kate Spade(PBR970) reports 4Q16 &2016 results, no forward looking guidance because reviewing strategic alternatives. $KATE PR link.
Avnet(PBR100) president/Electronics Marketing Gerry Fay leaving; in reorganization regional presidents to report to CEO. $AVT PR link.
Ralph Lauren(PBR349) hires Jonathon Bottomley to newly created role of Chief Marketing Officer and Tom Mendenhall to new position of Brand President, Men’s Polo, Purple Label, and Double RL. $RL PR link.
Alaska Air(PBR454) hires Charu Jain as VP/Chief Information Officer, promotes Chris Berry to VP/Finance & Controller. $ALK PR link.
Diebold Nixdorf(PBR676) promotes Dr. Juergen Wunram to COO; president Eckard Heidloff resigning effective 03/31/17. $DBD PR link.
The US Dept of Commerce estimates US January Housing Permits Issued Annual Rate at 1,285,000 units, +4.6% from December, +8.2% from January 2016. USDOC PR link.
The Federal Reserve Bank of Philadelphia February Manufacturing General Activity Indicator is 43.6, January was 23.6, December 19.7. PhillyFed PR link.
Fannie Mae(PBR17) February Economic Forecast: Policy Uncertainty Remains at the Center of 2017 Modest Growth Expectations. $FNMA PR link.
***Wednesday, February 15:
Walmart(PBR1) acquires ecommerce outdoor retailer 400 brands Michigan based Moosejaw for $51 million. $WMT PR link.
Boeing(PBR27) S Carolina employees vote by 74% to not unionize. $BA PR link.
Johnson & Johnson(PBR37) to commence $280/share, $30 billion cash tender offer for Swiss based pharmaceutical company Actelion(SIX: ATLN) on 03/03/17, expires 03/30/17, may be extended. $JNJ PR link.
Johnson & Johnson(PBR37 $JNJ) to sell Codman Neurosurgery business to Integra LifeSciences for $1.045 billion cash. $IART PR link.
Anthem(PBR38) files suit against Cigna(PBR85 $CI) seeking a temporary restraining order to enjoin Cigna from terminating the $48 billion merger agreement. $ANTM PR link.
Time Warner(PBR103) shareholders approve $107.50/share, $85.4 billion cash/stock acquisition by AT&T(PBR12 $T), close planned by 2017 end. $TWX PR link.
Manpower(PBR132) acquires Ciber(NYSE: CBR) Spain unit. $MAN PR link.
Peabody Energy(PBR372) closes on $1.0 billion aggregate principal amount of secured notes, to be used in reorganization and emerging from bankruptcy. $BTUUQ PR link.
NVR(PBR533) authorizes $300 million share repurchase program. $NVR PR link.
Groupon(PBR652) adds 5.2 million net new customers in N America, has 31.1 million N America active users, 52.7 million globally, at end of 2016. $GRPN PR link.
Intl Flavors & Fragrances(PBR666) in 2016 report says it will reduce workforce by 5%, around 350 employees. $IFF PR link.
Hologic(PBR767) gets FDA PMA approval for Aptima® Hepatitis C Quant Dx Assay therapy. $HOLX PR link.
Carlisle Cos(PBR650) hires Bob Roche as VP/CFO. $CSL PR link.
The US Dept of Labor says US January Consumer Price Index was +0.6%, December was +0.3%, +2.5% from January 2016. USDOL PR link.
The US Dept of Labor estimates US January Average Currently Weekly Earnings at $894.40, +0.1% from December, +1.9% from January 2016. USDOL PR link.
The US Dept of Commerce estimates US December Manufacturing/Retail/Wholesaler Sales were $1.356 trillion, +2.0% from November, +5.2% from December 2015. USDOC PR link.
The US Dept of Commerce Advance Estimate of US January Total Retail Sales were $472.1 billion, +0.3% from December, +5.5% from January 2016. USDOC PR link.
The US Federal Reserve Board estimates US January Industrial Production % of Capacity at 75.3%, December was 75.6%, January 2016 75.7%. FRB PR link.
The New York Federal Reserve Bank says February Empire State Manufacturing General Business Conditions Index at 18.7, +12.2 from January, +33.2 from February 2016. NYFRB PR link.
The Natl Assn of Home Builders says US February Composite Housing Market Index is 65, January was 67, February 2016 was 58. NAHB PR link.
***Tuesday, February 14:
Amazon(PBR29) Web Services announces Amazon Chime online video/audio/chat/screen sharing meetings service. $AMZN PR link.
Proctor & Gamble(PBR33) gets SEC notification that The Vanguard Group owns 6.62% of outstanding stock. $PG PR link.
AIG(PBR46) authorizes additional up to $3.5 billion in share repurchase program, balance is now $4.7 billion. $AIG PR link.
Aetna(PBR49) to pay Humana(PBR58 $HUM) $1 billion in mutual agreement to terminate $37 billion stock/cash acquisition. $AET PR link.
Humana(PBR58) authorizes $2 billion share buyback program for 2017, $1.5 billion in 1Q17. $HUM PR link.
Cigna(PBR85) terminates $48 billion acquisition by Anthem(PBR38 $ANTM), seeks $1.85 billion reverse termination fee plus $13+ billion in damages, expands share repurchase program to $3.7 billion. $CI PR link.
T-Mobile(PBR95) has 2.1 million customer net adds in 4Q17, has 71.5 million customers. $TMUS PR link.
CenturyLink(PBR160) gets first regulatory approvals for $66.50/share, $34 billion acquisition of Level 3 Communications(PBR375 $LVLT) from Ohio & Utah; special stockholders meeting scheduled for 03/16/17; close planned for 3Q17. $CTL PR link.
CSX(PBR226) calls special meeting for 03/16/17 to seek shareholder guidance on certain extraordinary requests by investor Mantle Ridge & CEO candidate Hunter Harrison and his $300 million compensation package. $CSX PR link.
Air Products(PBR267) sends public letter of concern to Hong Kong based Yingde Gases board in response to recent public disclosures by Yingde. $APD PR link.
Dover(PBR343) completes $150 million sale of its Performance Motorsports International unit to Race Winning Brands. $DOV PR link.
Mattel(PBR412) to promote toys, learning resources & educational content to China’s Alibaba(NYSE: BABA) 440 million active e-commerce Chinese buyers. $MAT PR link.
Hologic(PBR767) to acquire medical aesthetics systems developer Cynosure(NASDAQ: CYNO) for $66.00/share, $1.65 billion cash. $HOLX PR link.
Williams Cos(PBR348) hires Micheal Dunn as EVP/COO, effective 02/27/17. $WMB PR link.
General Cable(PBR418) hires Shruti Singhal as SVP/President of Europe, effective 02/27/17. $BGC PR link.
The US Dept of Labor says US January Producer Price Index was +0.6%, last 12 months +1.6%. USDOL PR link.
CoreLogic estimates US December Housing Serious Delinquency Units at 1,027,000, -0.5% from November, -19.5% from December 2015. CoreLogic PR link.
***Monday, February 13:
Verizon(PBR15) introduces unlimited data, calls, text plans, 1 line $80/mo, 4 lines $45/line, cellphone trade-in options. $VZ PR link.
Delta Air Lines(PBR72) to pay out $1+ billion to employees for third year in a row in profit sharing, on 02/14/17. $DAL PR link.
Delta Air Lines(PBR72) launches cash tender offer to acquire 49% stake in Grupo Aeromexico. $DAL PR link.
Dupont(PBR82) to split with spinoff Chemours a $670.7 million global settlement of 3,500+ personal injury claims arising from environmental releases of PFOA (perfluorooctanoic acid and its salts) from the Washington Works plant in W Virginia. $DD PR link.
T-Mobile(PBR95) announces T-Mobile ONE new pricing, 2 line service for $100/month, includes taxes, compares to Verizon‘s $140/month before taxes. $TMUS PR link.
Dollar General(PBR151) opens 1st store in N Dakota, plans to open 6 more in 2017, now in 44 states. $DG PR link.
Lear Corp(PBR165) increases share repurchase program from $341 million balance to $1 billion, expires 12/31/19. $LEA PR link.
NRG Energy(PBR186) in agreement with 9.4% stakeholders Elliott Management & Bluescape Energy Partners names Lawrence Coben as Chairman, succeeds Howard Cosgrove who has left the board, forms 5 person ad-hoc committee to review business. $NRG PR link.
Allergan(PBR219) to acquire body contouring provider ZELTIQ Aesthetics(NASDAQ: ZLTQ) for $56.50/share, $2.47 billion cash. $AGN PR link.
CBRE(PBR301) acquires US 6 offices nationwide boutique commercial real estate finance and consulting firm Capstone Financial. $CBG PR link.
KKR(PBR332) to acquire TUI AG‘s UK based global high end experiential travel groups specialist Travelopia. $KKR PR link.
Dana(PBR382) to acquire US Manufacturing‘s Warren, MI, axle housing & driveline shaft manufacturing operations for $100 million cash. $DAN PR link.
Sonoco Products(PBR480) announces 10% price increase on expanded polystyrene products because of industry styrene production outages. $SON PR link.
AMC(PBR728) Stubs Reward Program now has over 6 million members, plans 3x growth over 12 months by this summer. $AMC PR link.
Macerich(PBR957) authorizes $500 million share repurchase program. $MAC PR link.
Terex(PBR357) hires John Sheehan as SVP/CFO, starts 02/27/17, succeeds leaving Kevin Bradley. $TEX PR link.
Vornado(PBR738) CFO Stephen Theriot to become CFO of spinoff & its merger with JBG SMITH Properties; Vornado EVP/former CFO Joseph Macnow named interim CFO. $VNO PR link.
Scientific Games(PBR937) hires Karin-Joyce Tjon as President/COO. $SGMS PR link.
CBL & Assoc(PBR998) promotes Katie Reinsmidt to EVP/Chief Investment Officer. $CBL PR link.
***Friday, February 10:
The PBRMarketTools Week Ending 02/10/17 US Stock Exchanges Recap:
DJIA ends week at 20,269.37, +0.99% from last Friday, +2.04% MTD, +2.56% QTD/YTD, +0.00% from record 20,269.37 set 02/10/17.
NASDAQ ends week at 5,734.13, +1.19% from last Friday, +2.13% MTD, +6.52 QTD/YTD, +0.00% from record 5,734.13 set 02/10/17.
SPX ends week at 2,316.10, +0.81% from last Friday, +1.63% MTD, +3.45% QTD/YTD, +0.00% from record 2,316.10 set 02/10/17.
Ford(PBR10) to invest $1 billion over 5 years in new artificial intelligence company Argo AI in development of autonomous vehicles. $F PR link.
Sears(PBR93) streamlining operations, expects to save $1 billion in 2017, to close 108 KMart & 42 Sears stores, evaluating strategic options for Kenmore & Diehard brands, Sears Home Services, & Sears Auto Centers. $SHLD PR link.
Interpublic(PBR350) announces new up to $300 million share repurchase program. $IPG PR link.
Blackstone(PBR352) acquires Aon plc(NYSE: AON)‘s technology-enabled benefits & HR platform unit for $4.3 billion plus up to $500 million based on future performance. $BX PR link.
Mead Johnson(PBR539) agrees to be acquired by global consumer health & hygiene company Reckitt Benckiser Group plc for $90/share, $17.9 billion(includes debt), to close in 3Q17. $MJN PR link.
Owens & Minor(PBR292) Chairman Craig Smith to retire 05/05/17, board intends to name President/CEO P Cody Phipps as Chairman. $OMI PR link.
Insurance Industry: Willis Towers Watson(PBR621) report says major natural catastrophe losses totaled $39.5 billion in 2016, highest since 2012. $WLTW PR link.
The US Dept of Treasury says US January Receipts FY YTD(4 months) is $1.085 trillion, Outlays $1.242 trillion, Deficit $156.9 billion, January 2016 Deficit was $160.4 trillion. Treasury PR link.
The US Dept of Labor estimates US January Import Prices Index was +0.4% from December, +3.7% from January 2016, similarly Exports were +0.1%, +2.3%. USDOL PR link.
The U of Michigan US Preliminary February Consumer Sentiment Index is at 95.7, January was 98.5, February 2016 was 91.7. UMich PR link.
***Thursday, February 9:
The PBR1000 January 2017
Top 5 Shares Outstanding
(PBR Rankings by Revenues;
B=billions, M=millions):
1. Bank of America(PBR25), $BAC, 10.5B shares
2. General Electric(PBR16), $GE, 8.8B shares
3. Microsoft(PBR30), $MSFT, 7.7B shares
4. AT&T(PBR11), $T, 6.1B shares
5. Pfizer(PBR56), $PFE, 6.1B shares
Total The PBR1000: 374.4B shares
Range: 10.5B to 1.1M shares
Companies >1B shares: 75/1,002
Average: 373.7M shares
Median: 140.2M shares
Not a The PBR1000 Subscriber? Get the full The PBR1000 big business intelligence service with many more details in 15 insightful snapshots and 22 rankings today with an affordable investment in a 2 month or significantly discounted annual The PBR1000 subscription! Subscribe link.
Amazon(PBR29) to create 2,000 new full-time jobs at two new California fulfillment centers, making 12 in the state. $AMZN PR link.
Anthem(PBR38) comments on blocking of $48 billion acquisition of Cigna(PBR85 $CI) by US District Court, to work aggressively to complete the transaction. $ANTM PR link.
Kellogg(PBR198) US Snacks unit to exit Direct Store Delivery business. $K PR link.
AGCO(PBR280) makes tender offer of $7.03/share, $185 million for Brazil based grain storage & handling equipment manufacturer Kepler Weber SA. $AGCO PR link.
Symantec(PBR385) completes $24/share, $2.3 billion acquisition of LifeLock(NYSE: LOCK), creates world’s largest digital safety platform for consumers. $SYMC PR link.
Activision Blizzard(PBR540) reports 447 million Monthly Active Users in 4Q16, authorizes up to $1 billion over 2 years share repurchase program. $ATVI PR link.
Tempur Sealy(PBR687) adopts Stockholder Rights Plan, to expire 02/07/18. $TPX PR link.
Twitter(PBR786) reports 4Q16 Average Monthly Active Users were 319 million, +4% from 4Q15, 67 million from the US. $TWTR PR link.
Hexcel(PBR921) adds $300 million to share repurchase program, balance is $393 million. $HXL PR link.
Caterpillar(PBR54) EVP/Chief Legal Officer Jim Buda to retire 05/01/17. $CAT PR link.
SunPower(PBR680) promotes Bill Mulligan to EVP/Global Operations, succeeds leaving Marty Neese. $SPWR PR link.
Revlon(PBR900) hires Linda Wells to newly created post of Chief Creative Officer, effective 02/13/17. $REV PR link.
Radian(PBR978) hires Rick Thornberry as CEO, effective 03/06/17, to succeed retiring SA Ibrahim. $RDN PR link.
The US Dept of Commerce estimates US December Wholesale Sales at $464.9 billion, +2.6% from November, +6.8% from December 2015. USDOC PR link.
***Wednesday, February 8:
Anthem(PBR38)‘s $48 billion purchase of Cigna(PBR85) blocked by judge as anticompetitive. MarketWatch PR link.
Dow Chemical(PBR48 $DOW), Dupont(PBR82 $DD) tell EU they’ll sell businesses to get greenlight for merger. MarketWatch PR link.
Intel(PBR51) to invest $7 billion to complete Fab 42 semiconductor factory in 3-4 years in Chandler, AZ, to create 10,000 long-term jobs. $INTC PR link.
Energy Transfer Equity(PBR52) Partner’s unit receives Lake Oahe easement notice from US Army to complete 1,172 mile long Dakota Access pipeline. $ETE PR link.
Goodyear Tire(PBR157) spends $500 million for 16.7 million share repurchases in 2016, adds $1 billion to share repurchase program, balance is $2.1 billion. $GT PR link.
Cognizant(PBR272) agrees to replace 3 board members with 3 selected by key investor Elliott Management. $CTSH PR link.
Peabody Energy(PBR372) upsizes term loan from $500 million to $950 million, will have $1.95 billion long-term debt capitalization upon emergence from Chapter 11 bankruptcy. $BTUUQ PR link.
USG Corp(PBR599) celebrates the 100th Anniversary of Sheetrock® brand wallboard. $USG PR link.
W.R. Grace(PBR625) authorizes new $250 million share repurchase program over 24-36 months, starts upon completion of $34 million balance. $GRA PR link.
Regeneron(PBR708) & Sanofi get appeals court stay of permanent injunction against Amgen(PBR135) for cardiovascular disease therapy Repatha/Praluent patent infringement. $REGN PR link.
Deckers Outdoor(PBR929) gets SEC notice that Marcato Capital owns 6.0% of shares. $DECK PR link.
Iron Mountain(PBR663) hires Fidelma Russo as Chief Technology Officer, effective mid 03/17. $IRM PR link.
IDC Technology Forecast: Worldwide IT Spending Forecast to Sustain Growth of More Than 3% Through 2020 Led by Financial Services and Manufacturing Industries. IDC PR link.
***Tuesday, February 7:
Kroger(PBR20) acquires cheese/charcuterie purveyor Murray’s Cheese, in 350 Kroger locations nationwide, terms not disclosed. $KR PR link.
Amazon(PBR29) says 33+ million customers in 170 countries used Amazon Payments in 2016, almost double from 2015, average transaction was $80. $AMZN PR link.
Amgen(PBR135) gets FDA approval for Parsabiv™ (etelcalcetide) for the treatment of secondary hyperparathyroidism (HPT) in adult patients with chronic kidney disease (CKD) on hemodialysis. $AMGN PR link.
Priceline(PBR319) to acquire leading European travel meta engine provider Momondo Group for $550 million, will report to KAYAK unit. $PCLN PR link.
ABM Industries(PBR478) agrees to $110 million class action settlement against its former Security Services unit. $ABM PR link.
Arthur J Gallagher(PBR515) acquires Visalia, CA, retail insurance broker/employee benefits firm Lewis & Associates. $AJG PR link.
Perrigo(PBR565) to add 5 independent directors to board per agreement with 6.7% sharesholder Starboard Value. $PRGO PR link.
Perrigo(PBR565) confirms patent challenge for generic version of acne therapy medication Onexton® Gel. $PRGO PR link.
Dynegy(PBR777) completes $3.3 billion, $378/kW acquisition of ENGIE’s US portfolio of 9,017 megawatts of generation capacity in New England area. $DYN PR link.
Waste Management(PBR206) issues statement on passing this past weekend of non-executive chairman Bob Reum. $WM PR link.
Autodesk(PBR773) CEO Carl Bass steps down as president/CEO, remains on board, interim Office of CEO formed as search begins with SVPs Amar Hanspal & Andrew Anagnost appointed interim co-CEOs. $ADSK PR link.
Greenbrier Cos(PBR846) hires Greg Bretzing as Director, Global Security/Special Projects, reports to CEO. $GBX PR link.
The US Federal Reserve estimates US December Consumer Debt Outstanding is $3.763 trillion, +0.4% from November, +6.4% for 2016. FRB PR link.
The US Dept of Labor estimates US December Job Openings at 5.500 million, -0.1% from November, +4.2% from December 2015. USDOL PR link.
The US Dept of Commerce estimates US 2016 Exports were $2.209 trillion, Imports $2.712 trillion, Trade Deficit $502.3 billion. USDOC PR link.
The PurdueU/CME US January Ag Barometer Composite Index at 153, December was 132, January 2016 98. PurdueU PR link.
***Monday, February 6:
Occidental Petroleum(PBR123) says at end of 2016 it had worldwide proven reserves of 2.4 billion barrels of oil equivalent. $OXY PR link.
Lear Corp(PBR165) to acquire France based $324 million/yr 2,273 employee/contract workers in 14 facilities Grupo Antolin‘s automotive seating business for $308 million cash. $LEA PR link.
Avery Dennison(PBR396) to acquire China based $160 million/2016 industrial specialty tapes manufacturer Yongle Tape Company for $190 million plus up to $55 million earnouts. $AVY PR link.
Hasbro(PBR549) gets first year of $5+ billion revenues in 2016, returns $400 million to shareholders. $HAS PR link.
Abercrombie & Fitch(PBR595) to unveil new store concept, first in 15 years, with opening of first of seven stores planned in 2017. $ANF PR link.
Crown Holdings(PBR298) to promote Jerry Gifford to EVP/COO & Didier Sourisseau to President CROWN Europe, effective 04/01/17. $CCK PR link.
Tiffany(PBR551) CEO Frederic Cumenal steps down, chairman/former CEO Michael Kowalski adds interim CEO role. $TIF PR link.
Wolverine Worldwide(PBR722) hires Todd Spaletto as President/Outdoor & Lifestyle Group; promotes Jim Zwiers to EVP/Strategic Initiatives. $WWW PR link.
***Sunday, February 5:
***Super Bowl LI***
The New England Patriots win over The Atlanta Falcons 34-28 in a dramatic come from behind overtime win, with several records being broken. QB Tom Brady wins his 5th Super Bowl, 4th MVP. Lady Gaga is the featured halftime entertainment show.
***Friday, February 3:
The PBRMarketTools Week Ending 02/03/17 US Stock Exchanges Recap:
DJIA ends week at 20,071.46, -0.11% from last Friday, +1.04% MTD, +1.56% QTD/YTD, -0.15% from record 20,100.91 set 01/26/17.
NASDAQ ends week at 5,666.77, +0.11% from last Friday, +0.93% MTD, +5.27 QTD/YTD, +0.00% from record 5,666.77 set 02/03/17.
SPX ends week at 2,297.42, +0.12% from last Friday, +0.81% MTD, +2.62% QTD/YTD, -0.04% from record 2,298.37 set 01/25/17.
Energy Transfer Equity(PBR52) Partner’s unit gets FERC approval for Rover Pipeline Project, will transport 3.25 billion cubic feet per day of natural gas from Appalachian supply area to Michigan. 2 phase project to be completed by 11/17. $ETE PR link.
Pfizer(PBR56) gets accelerated $5 billion share repurchase agreement with Citigroup(PBR28)‘s Citibank. $PFE PR link.
Dollar General(PBR151) to create around 10,000 jobs in 2017, plans to open 1,000 new stores, 2 distribution centers. $DG PR link.
Computer Sciences(PBR237) announces board of new company to be formed on 04/03/17 with merger of CSC & Enterprise Services segment of HP Enterprises, will create a $26 billion/yr global IT services company. $CSC PR link.
Williams Cos(PBR348) Partners unit gets FERC approval for nearly $3 billion Atlantic Sunrise 200 mile pipeline project, will transport natural gas from Pennsylvania to Mid-Atlantic/Southeastern states. $WMB PR link.
hhgregg(PBR864) gets listing non-compliance notice from NYSE, market capitalization under $50 million, stock trading under $1/share. $HGG PR link.
The US Dept of Labor estimates the US January Civilian Non-Farm Employed at 152,081,000 people, -0.02% from December, +1.03% from January 2016. USDOL PR link.
The US Dept of Commerce estimates US December Manufacturers’ New Orders were $464.9 billion, +1.3% from November, +3.6% from December 2015. USDOC PR link.
The Markit US January Composite PMI Output Index is 55.8, December was 54.1, November 54.9. Markit PR link.
The ISM US January Non-Manufacturing Index(NMI) is at 56.5%, December was 57.2%, January 2016 53.5%. ISM PR link.
***Thursday, February 2:
Dow Chemical(PBR48) agrees to divest its global Ethylene Acrylic Acid (EAA) copolymers and ionomers business to SK Global Chemical upon its merger with DuPont(PBR82 $DD) as part of regulatory requirement. $DOW PR link.
Abbott Labs(PBR134) gets FDA approval for emergency use for first whole blood molecular test for Zika virus. $ABT PR link.
Bristol-Myers Squibb(PBR185) gets FDA approval for Opdivo (nivolumab) as a bladder cancer therapy . $BMY PR link.
CBS(PBR210) to merge Radio unit with Entercom Communications(NYSE: ETM) in stock deal, create $1.7 billion/year 244 stations company. $CBS PR link.
L Brands(PBR247) authorizes new $250 million share repurchase program, repurchased $438 million in 2016. $LB PR link.
Dana(PBR382) completes 80% acquisition of 2,300 employee, $419 million/2015 power-transmission, fluid power businesses of Europe’s Brevini Group SpA, to buy remaining 20% by 2020. $DAN PR link.
Amkor Technology(PBR659) to acquire Portugal based 550 employees $40 million/2016 wafer-level fan-out (WLFO) semiconductor packaging manufacturer NANIUM. $AMKR PR link.
Dynegy(PBR777)/Energy Capital Partners gets FERC okay to complete $3.3 billion, $378/KW acquisition of ENGIE‘s US portfolio of 9,017 megawatts of generation capacity in New England area. $DYN PR link.
Dynegy(PBR777) indirect wholly owned subsidiary Illinois Power Generating Co emerges from Chapter 11 restructuring. $DYN PR link.
Carpenter Technology(PBR856) to acquire all assets of W Virginia based titanium powders producer Puris for $35 million. $CRS PR link.
La-Z-Boy(PBR918) to build new $26 million, 70,000 sf Innovation Center at its 1.2 million sf Dayton, TN, campus, its largest US manufacturing location with 1,400 employees. $LZB PR link.
MDC Holdings(PBR952), parent of Richmond American, celebrates 40 years of building single family homes, has built 190,000. $MDC PR link.
Micron Technology(PBR180) CEO Mark Durcan to retire upon appointment of new CEO, search committee formed. $MU PR link.
Tenneco(PBR321) chairman/CEO Gregg Sherrill to become executive chairman on 05/17/17, COO Brian Kesseler to become CEO. $TEN PR link.
Ralph Lauren(PBR349) president/CEO Stefan Larsson leaving on 05/01/17 because of creative differences. $RL PR link.
Ingredion(PBR415) EVP/CFO Jack Fortnum to retire on 06/30/17 after 33 years with company, successor will be Jim Gray. $INGR PR link.
Boston Beer(PBR1004) CEO Martin Roper to retire in 2018 after 17+ years, successor search starts. $SAM PR link.
The US Dept of Labor estimates US 4Q16 Business Sector Productivity Output was +2.0%, +0.3% for 2016. USDOL PR link.
***Wednesday, February 1:
The PBR1000 January/YTD Snapshot 11
Top 5 Stock Price Gainers Summary:
1. Republic Airways(PBR955), $RJETQ, +333%
2. Aeropostale(PBR921), $AROPQ, +261%
3. Allegheny Technology(PBR559), $ATI, +36%
4. NRG Energy(PBR179), $NRG, +35%
5. Alcoa(PBR116), $AA, +30%
Range: +333% to -62%
Companies >+0%: 610/1,004
Average: +1.88%
Median: +1.28%
Get the full Snapshot 11 list with many more details and the 14 other analytical snapshots today with a 2 month or significantly reduced annual The PBR1000 subscription! Subscribe link.
Apple(PBR5) reclaims top spot over Samsung in 2016 for smartphone shipments says IDC, shipped 78.3 million iPhones in 4Q16, +4.7% over 4Q15. IDC PR link.
Verizon(PBR15) completes $1.8 billion purchase of XO Communications’ fiber-optic network business. $VZ PR link.
Abbott Labs(PBR134) gets FDA approval for Assurity MRI-TM Pacemaker, worlds smallest longest lasting wireless MRI compatible pacemaker. $ABT PR link.
HollyFrontier(PBR140) completes $845 million acquisition of Suncor Energy‘s 15,600 barrels/day Group III base oils Petro-Canada Lubricants business. $HFC PR link.
Parker-Hannifin(PBR218) acquires Enumclaw, WA, based $75 million/2016 300 employees helical rotary actuators manufacturer Helac. $PH PR link.
Allergan(PBR219) completes $2.9 billion acquisition of Acelity LP‘s regenerative medicine company LifeCell Corporation. $AGN PR link.
ONEOK(PBR236) to acquire all remaining common stock it does not already own in ONEOK Partners(NYSE: OKS) for $9.3 billion in all stock deal. $OKE PR link.
BlackRock(PBR252) acquires energy infrastructure franchise from First Reserve, has has $3.7 billion in committed capital. $BLK PR link.
Biogen(PBR282) completes spinoff of global hemophilia business Bioverativ(NASDAQ: BIVV). $BIIB PR link.
Tenneco(PBR321) authorizes new $400 million shares repurchase program over 3 years. $TEN PR link.
Celanese(PBR369) to expand global nylon solutions presence with acquisition of Nilit‘s nylon compounding Plastics division, terms not disclosed. $CE PR link.
Peabody Energy(PBR372) to offer up to $1.0 billion of senior secured notes to be used to fund a portion of distribution to creditors upon approval of reorganization plan. $BTUUQ PR link.
FIS(PBR394) completes $850 million sale of SunGard Public Sector and Education businesses to Vista Equity Partners. $FIS PR link.
Coty(PBR524) completes $600 million acquisition of 60% stake in online peer-to-peer social selling platform in beauty provider Younique. $COTY PR link.
Activision Blizzard(PBR540) creates new Consumer Products Division, hires Tim Kilpin as its CEO & president. $ATVI PR link.
Tesla(PBR651) changes name from Tesla Motors, Inc to Tesla, Inc. $TSLA PR link.
Citrix(PBR658) completes $65.31/share, $1.8 billion spin-off and merger deal of GoTo family of service offerings with LogMeIn(NASDAQ: LOGM). $CTXS PR link.
Apollo Education(PBR681) $1.14 billion acquisition by investor group lead by Apollo Global Mgmt(PBR906 $APO) is completed. $APOL PR link.
WABCO(PBR704) extends longterm agreement to provide advanced braking systems to Russia’s largest heavy duty vehicle manufacturer KAZAM. $WBC PR link.
Chemtura(PBR849) stockholders approve $33.50/share, $2.5 billion cash acquisition by Germany based global specialty chemicals company LANXESS AG, to close mid 2017. $CHMT PR link.
Berry Plastics(PBR488) promotes president/COO Tom Salmon to CEO, effective 02/03/17, succeeds Jon Rich who remains Executive Chairman. $BERY PR link.
Triumph Group(PBR578) hires Gary Tenison as VP/Business Development, effective 02/13/17. $TGI PR link.
Abercrombie & Fitch(PBR595) promotes president/Chief Merchandising Officer Fran Horowitz to CEO. EVP/CFO Joanne Crevoiserat adds COO role. $ANF PR link.
The US Dept of Commerce estimates US December New Construction Spending Annual Rate at $1.182 trillion, -0.3% from November, +4.94% from December 2015. USDOC PR link.
ADP(PBR235) says US January Change In Employment was +247,000, 46,000 from Goods Producing Sector, 201,000 from Services Sector. $ADP PR link.
The US Federal Reserve Board releases its FOMC statement from the 01/31-02/01/17 meeting, notes labor market continues to strengthen, economy growing at a moderate pace, will keep federal funds rate at 0.50-0.75%. FRB PR link.
The Conference Board says US January New Online Help Wanted Ads were 2,248,702, +4.3% from December, -11.9% from January 2016. TCB PR link.
The ISM US January PMI was 56.0%, December was 54.5%, January 2015 was 48.2%. ISM PR link.
The Markit US January Manufacturing PMI was 55.0, December was 54.3, November 54.1. Markit PR link.
TrueCar estimates US January New Auto Sales were at $37 billion, +1.6% from January 2015, Average Transaction Price at $33,127, +1.4% YoY. $TRUE PR link.
Automotive News says US January New Auto Sales were 1,142,568 units, -32.3% from December, -1.9% from January 2016. AutoNews 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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