January 2017: The Big Ball Gets Rolling
Which way will the Big Ball roll? How will it overcome the inevitable obstacles?
By Larry C. Paxton
January’s focus by the US and the world was clearly on US President-Elect Trump and he did not disappoint. On January 20th he officially became President and came charging out of the gate with many controversial executive orders, ongoing nominations of accomplished people with strong opinions, and continuing to baffle everyone through his use of social media, especially Twitter. So the Big Ball is now rolling. Let’s see how it handles the dips, hills, water hazards, and unanticipated obstacles as it rolls through its first term knowing that it will definitely not be in a straight line.
Here’s a quick January 2017 summary on key activities that relate to The PBR1000:
US Presidency: Donald J. Trump is inaugurated as the 45th President of the United States on Friday, January 20, 2017. Cabinet appointees are being confirmed, being announced, heavy emphasis on business experience, major policy changes expected in healthcare, immigration, infrastructure programs, and international trade.
Mergers & Acquisitions: 32 deals worth at least $1 billion initiated, closed, or updated. Total transaction value is $234 billion.
Spinoffs: 4 completed or announced.
Share Repurchase Programs: 16 announced, total $27.8 billion.
Bankruptcies: 4 actions
CEO Changes: 7 announced.
Jobs: Modest growth.
US Economy: Modest/moderate growth continues, stable but fragile, significant growth in eCommerce, retail outlets down.
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 January 2017, starting with the last active business day.
Tuesday, January 31:
The PBRMarketTools January 2017 US Stock Exchanges Recap:
DJIA ends January at 19,864.09, -1.14% from last Friday, +0.51% MTD/QTD/YTD, -1.18% from record 20,100.91 set 01/26/17.
NASDAQ ends January at 5,614.79, -0.81% from last Friday, +4.30% MTD/QTD/YTD, -0.81% from record 5,660.78 set 01/27/17.
SPX ends January at 2,278.87, -0.69% from last Friday, +1.79% MTD/QTD/YTD, -0.85% fromrecord 2,298.37 set 01/25/17.
Amazon(PBR29) to create 2,000 jobs at new air cargo hub in Hebron, KY. $AMZN PR link.
Caterpillar(PBR54) to establish global headquarters with 300 employees in more accessible, strategic location Chicago, most employees to remain in Peoria, IL. $CAT PR link.
Merck(PBR70) gets European Commission approval for lung cancer therapy KEYTRUDA® (pembrolizumab). $MRK PR link.
Sprint(PBR86) reports 1,694,000 wireless net additions in 2016, 59,515,000 total platform connections. $S PR link.
DISH(PBR196) acquires DBS and OTT assets from EchoStar(PBR622) in exchange for 80% economic interest in Hughes Retail Group. $DISH PR link.
Harley-Davidson(PBR400) in 4Q16 report says 262,221 motorcycles shipped in 2016, -1.6% from 2015. $HOG PR link.
Dr Pepper Snapple(PBR406) completes $1.7 billion cash acquisition of antioxidant infused beverages provider Bai Brand. $DPS PR link.
JM Smucker(PBR437) to build additional Smucker’s® Uncrustables® Sandwiches manufacturing facility in Longmont, CO, $340 million investment, will employ up to 500 in 2019. $SJM PR link.
Arthur J Gallagher(PBR515) acquires Salt Lake City, UT, based retail insurance broker The Presidio Group. $AJG PR link.
Hologic(PBR767) completes divestiture of blood screening business to partner Grifols(NASDAQ: GRFS) for $1.85 million cash.$HOLX PR link.
Invacare(PBR984) to reduce workforce by 100 from continued restructuring. $IVC PR link.
PharMerica(PBR911) hires Bob Dries as EVP/CFO. $PMC PR link.
The Federal Reserve Bank of Chicago says the December Midwest Economy Index was +0.06, November was -0.02, slightly higher than national growth rate. ChiFed PR link.
FreddieMac(PBR41) Multifamily 2017 Outlook: Commentary and analysis on apartments; rental demand expecting to grow at a more moderate rate. $FMCC PR link.
Monday, January 30:
Citigroup(PBR28) to exit US mortgage servicing operations by end of 2018, will focus on originations. $C PR link.
Archer-Daniels-Midland(PBR34) selling Crop Risk Services business to Validus Holdings(NYSE: VR) for $127.5 million. $AMD PR link.
Walgreens Boots Alliance(PBR36) to acquire Rite Aid(PBR105 $RAD) for amended $6.50-7.00/share, to divest 1,200 Rite Aid stores to meet regulatory approval, moves acquisition by date from 01/27/17 to 07/31/17. $WBA PR link.
Macy’s(PBR97) sells ownership of Frango chocolates to Garrett Brands, terms not disclosed, will continue to be sold at Macy’s stores and online. $M PR link.
Whirlpool(PBR138) secures 4-year appliances renewal with Meritage Homes(PBR858 $MTH). $WHR PR link.
American Electric Power(PBR174) completes $2.1 billion sale of 4 power plants totaling 5,200 MW to Blackstone(PBR352 $BX)/ArcLight joint venture. $AEP PR link.
Starbucks(PBR178) chairman/CEO Howard Schultz in partners message says Starbucks will hire 10,000 refugees over 5 years worldwide, will start in US. $SBUX PR link.
PNC Financial(PBR189) adds $300 million to share repurchase plan, balance is now $2.3 billion, expires 06/30/17. $PNC PR link.
Allergan(PBR219) gets FDA approval for sNDA for AVYCAZ® (ceftazidime and avibactam) for patients with complicated urinary tract infections. $AGN PR link.
Jacobs Engineering(PBR225) acquires Australia based integrated project services provider, 220 employees, Aquenta Consulting, terms not disclosed. $JEC PR link.
BlackRock(PBR252 $BLK) discloses 6% stake in GoPro(PBR903). $GPRO PR link.
Mylan(PBR346) wins US District Court ruling related to Copaxone® 40 mg/mL patents, serves $3.3 billion/year US market. $MYL PR link.
Arthur J Gallagher(PBR515) acquires Syracuse, NY, regional retail insurance broker Eagle Insurance Agency, terms not disclosed. $AJG PR link.
Keysight Technologies(PBR660) to acquire networks services provider Ixia(NASDAQ: XXIA) for $19.65/share, $1.6 billion cash. $KEYS PR link.
Varian Medical(PBR678) completes spinoff of independent public company Varex Imaging(NASDAQ: VREX), receives $200 million cash transfer. $VAR PR link.
Tempur Sealy(PBR687) and Mattress Firm unable to come to new agreement, contracts terminated, to be effective by 1Q17 end. $TPX PR link.
Endo Intl(PBR700) gets FDA approval of new Ephedrine Sulfate Injection, for $177 million/year US marketplace. $ENDP PR link.
HB Fuller(PBR870) acquires $100 million/2016 Wisdom Worldwide Adhesives for $122 million. $FUL PR link.
Fitbit(PBR870) preliminarily says 6.5 million devices sold in 4Q16, lower than expected, reorganizing, to reduce workforce by 6%, 110 employees. $FIT PR link.
Woodward(PBR888) authorizes up to $500 million share repurchase program, expires 11/30/19. $WWD PR link.
Intel(PBR51) promotes Steven Rogers to EVP/General Counsel, Aicha Evans to SVP/GM Communications & Devices Group, Leslie Gulbertson to SVP/Human Resources. $INTC PR link.
Office Depot(PBR182) hires Gerry Smith as CEO, effective 02/27/17, to succeed retiring Roland Smith. $ODP PR link.
Cincinnati Financial(PBR490) lists promotions & new appointments of subsidiary companies directors, officers & general counsel. $CINF PR link.
Synopsys(PBR879) EVP/Business Operations & Chief Administrative Officer Brian Beattie to retire on 12/22/17. $SNPS PR link.
The US Dept of Commerce estimates US December Personal Income Annual Rate at $16.290 trillion, +0.3% from November, +3.5% from December 2015.
USDOC PR link.
FreddieMac(PBR41) January Outlook: An interesting read with comments about uncertainties regarding new fiscal policies, foreign US real estate investments, and the mortgage market. $FMCC PR link.
President Trump: A summary with hotlinks on President Trump’s many actions in his 1st week in office. WhiteHouse PR link.
Friday, January 27:
The PBRMarketTools Week Ending 01/27/17 US Stock Exchanges Recap:
DJIA ends week at 20,093.78, +1.34% from last Friday, +1.68% MTD/QTD/YTD, -0.04% from record 20,100.91 set 01/26/17.
NASDAQ ends week at 5,660.78, +1.90% from last Friday, +5.16% MTD/QTD/YTD, +0.00% from record 5,660.78 set 01/27/17.
SPX ends week at 2,294.69, +1.03% from last Friday, +2.50% MTD/QTD/YTD, -0.16% fromrecord 2,298.37 set 01/25/17.
Lowe’s(PBR50) authorizes additional $5 billion for share repurchase program, balance is $5.627 billion, no expiration set. $LOW PR link.
American Airlines(PBR69) approves new $2.0 billion share repurchase program, expires 12/31/18. $AAL PR link.
McDonald’s(PBR101 $MCD): Private-equity pioneer Guy Hands buys Nordic McDonald’s 435 restaurants. MarketWatch PR link.
Peabody Energy(PBR372) gets US Bankruptcy Court approval for disclosure statement, plan support, private placement and backstop commitment agreements, creditors vote to be held no later than 03/03/17. $BTUUQ PR link.
Ulta Salon(PBR646) implementing a holding company reorganization, named Ulta Beauty, effective 01/29/17, no other changes. $ULTA PR link.
Celanese(PBR369) hires Peter Edwards as General Counsel, succeeds leaving Gjon Nivica. $CE PR link.
Knowles Corp(PBR990) hires Helmut Vogler SVP/Global Sales. $KN PR link.
The US Dept of Commerce estimates 4Q16 GDP Annual Rate(Advance Report) at +1.9%, $18.861 trillion, +1.0% from 3Q16, +3.50% from 4Q15. USDOC PR link.
The University of Michigan Final January Consumer Sentiment Index is at 98.5, December was 98.2, January 2016 92.0. UMich PR link.
Thursday, January 26:
Johnson & Johnson(PBR37) to acquire Swiss based pharmaceutical company Actelion(SIX: ATLN) for $280/share, $30 billion cash. $JNJ PR link.
Comcast(PBR42) increases stock repurchase program to $12 billion, to use $5 billion in 2017, to do 2:1 stock split payable 02/17/17. $CMCSA PR link.
Allergan(PBR219) gets FDA approval for 72 mcg dose of LINZESS® (linaclotide) for adults with Chronic Idiopathic Constipation. $AGN PR link.
Sherwin-Williams(PBR251) to divest under $650 million/year revenues to gain FTC approval on $11.3 billion acquisition of Valspar(PBR526), expects to close within 90 days. $SHW PR link.
Celgene(PBR347) to acquire autoimmune disease therapies developer Delinia for $300 million plus up to $475 million in contigent payments. $CELG PR link.
Endo Intl(PBR700) initiates restructuring US corporate & branded R&D functions, to reduce fulltime workforce by 90. $ENDP PR link.
The US Dept of Labor says Total Insured Unemployment on 01/14/17 was 2,100,000, +2.4% from December, -6.2% from January 2016. USDOL PR link.
The US Dept of Commerce estimates US December New Family Homes Sold Annual Rate was 536,000, -10.4% from November, -0.4% from December 2015. USDOCPR link.
The US Energy Information Administration says 01/20/17 US Crude Oil Reserves at 488.3 million barrels, +0.5% from 12/23/16, +5.3% from 01/22/16. EIAPR link.
The Federal Reserve Bank of Chicago shows the December Chicago Fed National Activity Index at 0.14, November was -0.33, December 2015 -0.17. ChiFed PR link.
FreddieMac(PBR41) says 30 Year Fixed Rate Housing Mortgage averaged 4.19% for week ending 01/26/17, 12/29/16 was 4.32%, 01/28/16 was 3.79%. $FMCC PR link.
The Conference Board estimates US December Leading Economic Index at 124.6(2010=100), +0.5% from November. TCB PR link.
Wednesday, January 25:
McKesson(PBR6) to acquire private healthcare electronic prior authorization systems developer CoverMyMeds for $1.1 billion. $MCK PR link.
AT&T(PBR12) wireless net adds was 9.5 million in 2016, 6.2 million from the US, 3.3 million from Mexico. $T PR link.
JP Morgan Chase(PBR21 $JPM) to become custodian for $1 trillion in BlackRock(PBR252 $BLK) transfer of assets from State Street(PBR260 $STT). MarketWatch PR link.
United Technologies(PBR45) 2017 plans include share repurchases of $3.5 billion, $1-2 billion for acquisitions. $UTX PR link.
Cisco(PBR60) to acquire private application performance monitoring developer AppDynamics for $3.7 billion. $CSCO PR link.
INTL FCStone(PBR88) gets #1 ranking by Bloomberg for dollar value traded OTC and for around 2,500 securities. $INTL PR link.
Macy’s(PBR97) extends Ideology activewear brand to men with ID Ideology, in 250 stores, online, $25-$70 retail. $M PR link.
Textron(PBR207) to acquire ATV/snowmobiles & accessories manufacturer Arctic Cat(NASDAQ: ACAT) for $247 million plus debt; authorizes a new up to 25 million shares repurchase program. $TXTPR link.
United Rentals(PBR438) to acquire Chicago based 1,100 employee, 73 branches, $369 million/2016 general rental equipment company NES Rentals for $965 million cash. $URIPR link.
WGL Holdings(PBR717) to be acquired by Canadian based energy infrastructure provider AltaGas(TSX: ALA) for $88.25/share, $6.4 billion cash. $WGLPR link.
Dynegy(PBR777) indirect wholly owned subsidiary Illinois Power Generating Co to emerge from Chapter 11 per confirmation of plan by US Bankruptcy Court. $DYNPR link.
BlueLinx(PBR892) completes sale/15 year leaseback of Tampa distribution facility, looks to do more sale/leaseback deals. $BXC PR link.
Chevron(PBR3) names Mike Wirth as Vice Chairman, effective 02/01/17. $CVX PR link.
FirstEnergy(PBR195) promotes Ebony Yeboah-Amankwah VP, State and Federal Regulatory Legal Affairs. $FE PR link.
Constellation Brands(PBR377) promotes Bill Newlands to EVP & newly created role of COO. $STZ PR link.
Asbury Automotive(PBR424) CFO Keith Style leaving 03/07/17, William Stax to then be interim Principal Financial Officer. $ABG PR link.
The Natl Retail Federation poll shows American consumers will spend an average of $75 each for a total of $14.1 billion as an estimated 188.5 million watch Super Bowl LI on 02/05/17. NRF PR link.
Tuesday, January 24:
Verizon(PBR15) ends 2016 with 114.2 million retail connections, +1.9% from 2015. 2016 revenues almost $126.0 billion, -4.3% from 2015. $VZ PR link.
Assurant(PBR268) to restructure into 4 reporting segments, starting with 4Q2016 results. $AIZ PR link.
Core-Mark(PBR271) supply agreement with 680 stores Kroger Convenience to expire in 04/17. Core-Mark serves 44,000 locations. $CORE PR link.
WestRock(PBR278) to acquire $1.6 billion/2016 Multi Packaging Solutions(NYSE: MPSX) for $18.00/share, $2.28 billion, includes $873 million net debt. $WRK PR link.
Concho Resources(PBR734) to net $800 million in $1.215 billion sale of the Alpha Crude Connector System to Plains All American Pipeline(PBR66). $CXO PR link.
Popular(PBR886) approves common stock repurchases of up to $75 million. $BPOP PR link.
Bob Evans(PBR954) to sell Bob Evans Restaurants unit for around $605 million to Golden Gate Capital; to acquire potato products producer Pineland Farms Potato Co for $115 million; Mike Downsley to be President/CEO upon completion of transactions expected late 04/17. $BOBE PR link.
Buffalo Wild Wings(PBR981) expands share repurchase program by $400 million, balance is now $900 million. $BWLD PR link.
Ford(PBR10) hires Musa Tariq as VP/Chief Brand Officer, effective 01/30/17. $F PR link.
Kroger(PBR20) promotes Jerry Clontz to President/Mid-Atlantic Division, effective 02/10/17, succeeds retiring Joe Fey. $KR PR link.
Microsoft(PBR31) names Kevin Scott to newly created role of Chief Technology Officer. $MSFT PR link.
Johnson & Johnson(PBR37) evaluating potential strategic options for its Diabetes Care Companies. $JNJ PR link.
DuPont(PBR82) merger with Dow Chemical(PBR48 $DOW) re-planned for 1H2017. $DD PR link.
Sprint(PBR86) hires Néstor Cano for newly created position of COO. $S PR link.
Kimberly-Clark(PBR141) plans to repurchase $800 million to $1 billion in shares in 2017. $KMB PR link.
Gap Inc(PBR179) Banana Republic Brand President Andi Owen to depart in late 02/17. $GPS PR link.
Texas Instruments(PBR220) promotes Brian Crutcher to COO. $TXN PR link.
Celanese(PBR369) General Counsel Gjon Nivica to leave during 1Q2017. $CE PR link.
Ciena Corp(PBR829) SVP/COO François Locoh-Donou to step down 03/23/17. $CIEN PR link.
MGIC Investment(PBR993) subsidiary Mortgage Guaranty Insurance Corp promotes James Hughes to EVP-Sales & Business Development and Salvatore Miosi to EVP-Business Strategy & Operations, 4 other VP promotions also named. $MTG PR link.
President Trump signs executive orders to proceed with the building of the Keystone and Dakota pipelines using US built materials. WhiteHouse PR link.
The Natl Assn of Realtors says December Existing Home Sales at a 5,490,000 annual rate, -2.8% from November, +0.7% from December 2015. NAR PR link.
Monday, January 23:
Ford(PBR10) to sell parts for Ford & non-Ford vehicle brands at Ford dealerships through new Omicraft service. $F PR link.
Kroger(PBR20) to fill 10,000 permanent positions in its family of stores in 2017, hired 12,000+ in 2016. $KR PR link.
Amazon(PBR29) to open first fulfillment center in Colorado, to be in Aurora, will have 1,000+ full-time employees. $AMZN PR link.
US District Court blocks Aetna(PBR49)’s acquisition of Humana(PBR58), says it would stifle competition. USDOJ PR link.
Sprint(PBR86) to acquire 33% stake in music artist Jay Z’s 42.5 million song catalog, 140,000 videos TIDAL artist content service. $S PR link.
JCPenney(PBR234) extends Stockholder Rights Plan for additional 3 years to protect $2.6 billion net operating loss carryforwards tax benefits. $JCP PR link.
Henry Schein(PBR270) enters S America animal healthcare market with 51% stake acquisition in Brazil based private 130 employees, 5,000 customers, $24 million/2016 animal health products distributor Tecnew. $HSIC PR link.
WestRock(PBR278) to sell Home, Health and Beauty business to Silgan(PBR576 $SLGN) for $1.025 billion. $WRK PR link.
Avis Budget(PBR316) adopts short-term stockholder rights plan while in discussions with 9.7% voting rights investor SRS Investment Management. $CAR PR link.
Yahoo!(PBR519) $4.83 billion cash acquisition by Verizon(PBR15) being moved from 1Q17 to 2Q17 because of integration issues. $YHOO PR link.
Liberty Media(PBR534) completes $8 billion acquisition of Formula 1. $LMCA PR link.
Endo Intl(PBR700) resolves certain patent issues with the FTC, no admission of wrongdoing, no monetary payments involved. $ENDP PR link.
AMC Entertainment(PBR728) to acquire Sweden based largest Northern Europe 7 country region theatre exhibitor Nordic Cinema Group for $929 million cash. $AMC PR link.
SunEdison(PBR782 $SUNEQ) spinoff TerraForm(NASDAQ: $TERP) gets Memorandum of Understanding outlining potential separate settlements of claims in connection with the SunEdison Chapter 11 bankruptcy case. $TERP PR link.
Edwards Lifesciences(PBR819) completes $340 million plus up to $350 million over 10 years acquisition of Israel based private Valtech Cardio. $EW PR link.
Lowe’s(PBR50) promotes Jocelyn Wong to Chief Marketing Officer, succeeds Marci Grebstein. $LOW PR link.
HCP(PBR834) hires Peter Scott as EVP/CFO, effective 02/13/17, succeeds Tom Herzog who is now CEO. $HCP PR link.
Minerals Tech(PBR949) hires Matthew Garth as SVP/Finance & Treasury, CFO. $MTX PR link.
Legg Mason(PBR709) Forecast: Global Economic Growth Will Be “Sturdy but Unspectacular,” Potentially Enhanced by U.S. Boost Under Trump Administration. $LM PR link.
Friday, January 20:
***Donald J Trump is inaugurated as the 45th President of the United States.***
The PBRMarketTools Week Ending 01/20/17 US Stock Exchanges Recap:
DJIA ends week at 19,827.25, -0.29% from last Friday, +0.33% MTD, QTD, & YTD, -0.74% from record 19,974.62 set 12/20/16.
NASDAQ ends week at 5,555.33, -0.34% from last Friday, +3.20% MTD, QTD, & YTD, -0.34% from record 5,574.12 set 01/13/17.
SPX ends week at 2,271.31, -0.15% from last Friday, +1.45% MTD, QTD, & YTD, -0.25% fromrecord 2,276.98 set 01/06/17.
Ford(PBR10) expects 2016 pension plans to be underfunded by $8.9 billion, OPEB by $5.9 billion. $F PR link.
AT&T(PBR12) to record $1 billion loss from annual remeasurement of pension & postemployment benefit plans; reports 900,000 branded net adds of domestic wireless subscribers. $T PR link.
Johnson & Johnson(PBR37) Ethicon Endo-Surgery unit acquires private electrosurgical tools developer Megadyne Medical Products, terms not disclosed. $JNJ PR link.
AIG(PBR46) to pay Berkshire Hathaway(PBR4 $BRKA) subsidiary National Indemnity Company $9.8 billion for reinsurance agreement. $AIG PR link.
Merck(PBR70) to pay $625 million plus continuing royalties to Bristol-Myers Squibb(PBR185) and Ono Pharmaceutical to resolve PD-1 antibody Keytruda patent litigation. $BMY PR link.
Qualcomm(PBR106) says $1 billion lawsuit filed by Apple(PBR5) claiming monopolistic practices is baseless. $QCOM PR link.
PG&E(PBR172) submits $253 million 7 projects proposal to the California Public Utilities Commission to expand support for electric vehicles. $PCG PR link.
Air Products(PBR267) proposes to buy Hong Kong based Yingde Gases for $7.09/share, $13.4 billion. $APD PR link.
AutoZone(PBR290) to hire 12,000+ new part-time, full-time employees nationwide through April for its 5,300 stores. $AZO PR link.
Berry Plastics(PBR488) completes $765 million cash/stock acquisition of flexible plastic packaging films manufacturer AEP Industries(NASDAQ: $AEPI). $BERY PR link.
Carnival Corp(PBR184) Costa Group CEO Michael Thamm now also CEO of Carnival Asia. $CCL PR link.
Thursday, January 19:
Bristol-Myers Squibb(PBR185) to not accelerate regulatory pathway for the combination of Opdivo plus Yervoy in first-line lung cancer in the US. $BMY PR link.
FirstEnergy(PBR195) to sell 4 Pennsylvania natural gas generating plants & a portion of a Virginia hydroelectric power station to LS Power Equity Partners for $925 million cash. $FE PR link.
YUM!(PBR217 $YUM)’s Pizza Hut unit plans to fill 11,000 jobs in the US. MarketWatch PR link.
Allergan(PBR219) gets FDA approval of RHOFADE™ 1% cream for the topical treatment of persistent facial redness(Rosacea) in adults. $AGN PR link.
Western Union(PBR441) to pay federal government $582 million for misconduct of agents & 3rd parties from 2004 to 2012. Funds to be reimbursed to fraud victim consumers. $WU PR link.
Arthur J Gallagher(PBR515) acquires Denver based wholesale insurance broker Adco General Corporation, terms not disclosed. $AJG PR link.
CA Technologies(PBR550) completes around $640 million acquisition of Austria based 600 employees business automation software provider Automic. $CA PR link.
Chipotle(PBR561) selects agencies Venables Bell & Partners for advertising responsibilities and MullenLowe Mediahub for media planning & buying. $CMG PR link.
Total System(PBR790) renews long-term payments services agreement with BBVA Compass Bank. $TSS PR link.
Domino’s(PBR889) corporate locations throughout New York City to hire 200 new Team Members. $DPZ PR link.
Macerich(PBR957) sells Burlington, WA, and San Rafael, CA, malls for $170 million, nets $100 million. $MAC PR link.
Target(PBR40) promotes Rick Gomez to EVP/Chief Marketing Officer, effective 01/29/17. $TGT PR link.
PPG Industries(PBR190) promotes Vincent Morales to SVP/CFO, effective 03/01/17, succeeds retiring Frank Sklarsky. $PPG PR link.
HNI Corp(PBR841) SVP/CFO Kurt Tjaden appointed President/HNI International, retains SVP corporate title, succeeds retiring Marco Molinari; Marshall Bridges promoted to VP/CFO. $HNI PR link.
Allscripts(PBR944) hires Lisa Khorey as Chief Client Delivery Officer, Alan Fowles as President-International. $MDRX PR link.
Minerals Tech(PBR949) promotes Brett Argirakis to VP/GM Minteq International & member of executive team. $MTX PR link.
The US Dept of HUD estimates US December Private Housing Permits Issued Annual Rate at 1,210,000, -0.2% from November, +0.75% from December 2015. HUD PR link.
The Federal Reserve Bank of Philadelphia says the January Philadelphia Manufacturing General Activity Index at 23.6, December was 19.7, January 2016 -5.3. PhillyFed PR link.
Wednesday, January 18:
GE(PBR9) gets >$1.4 billion in power generation orders with Iraq’s Ministry of Electricity. $GE PR link.
Amazon(PBR29) to open 9th fulfillment center in Texas, 6th in DFW metroplex; robotics site will employ 1,000+ full-time jobs. $AMZN PR link.
Amazon(PBR29) to open 3rd fulfillment center in Maryland, 1.2 million sf, will create 700 new full-time jobs. $AMZN PR link.
Mondelez(PBR87) selling Australian VEGEMITE & other iconic brands to Bega Cheese(ASX: BGA) for $361 million. $MDLZ PR link.
Eli Lilly(PBR142) to acquire pain management for migraine developer CoLucid(NASD: CLCD) for $46.50/share, $960 million cash. $LLY PR link.
Netflix(PBR447) letter to shareholders says ended 2016 with 93.8 million subscribers, includes 19.0 million net additions, 7.05 million in 4Q16. $NFLX PR link.
Salesforce(PBR453) opens new Engineering & Innovation Hub in Bellevue, WA, to double workforce to 500. $CRM PR link.
Liberty Media(PBR534) gets Fédération Internationale de l’Automobile(FIA) approval for $8 billion acquisition of Formula 1, now expected to close by 01/31/17. $LMCA PR link.
KB Home(PBR802) recognized by EPA for building Its 100,000th ENERGY STAR® certified home. $KBH PR link.
La Quinta(PBR998) considering separating into two public companies, one being owned real estate assets. $LQ PR link.
Community Health Systems(PBR125) EVP/Secretary & General Counsel Rachel Seifert to retire at 1Q17 end. $CYH PR link.
SuperValue(PBR164) hires Anne Dament as SVP of Retail, Merchandising and Marketing. $SVU PR link.
Host Hotels(PBR455) promotes Nathan Tyrrell to EVP/Investments, Bret McLeod to SVP/Corporate Strategy & Investor Relations, SVP Sourav Ghosh to head new enterprise analytics group. $HST PR link.
NVIDIA(PBR510) hires Tim Teter as SVP/General Counsel & Company Secretary, succeeds retiring David Shannon. $NVDA PR link.
Brunswick(PBR584) hires Jaime Irick as President-Fitness Division, succeeds leaving Christopher Clawson. $BC PR link.
New York Times(PBR971) promotes David Perpich to President/General Manager of The Wirecutter. $NYT PR link.
The US Dept of Labor says US December Consumer Price Index was +0.3% from November, +2.1% from December 2015. USDOL PR link.
The US Dept of Labor estimates US December Average Current Weekly Earnings at $891.80, +0.4% from November, +2.3% from December 2015. USDOL PR link.
The US Federal Reserve estimates US December Total Industry % of Capacity was 75.5%, +0.4% from December 2015. USFRB PR link.
The US Federal Reserve Bank Beige Book for data through 01/09/17 indicates continued modest economic growth, generally tightening of the job market. USFRB PR link.
ADP(PBR235) Workforce Vitality Index-4Q16 at 112.4(3Q13=100), indicates wages were +4.0% from 4Q15. $ADP PR link.
The Natl Assn of Homebuilders/Wells Fargo US January Housing Market Index at 67, December was 69, January 2015 61. NAHB PR link.
Commercial Real Estate Market: Jones Lang LaSalle(PBR449) says 2017 Commercial Real Estate Global Investment to reach $700 billion, was $650 billion in 2016. $JLL PR link.
Tuesday, January 17:
Walmart(PBR1) to open 59 US stores in 2017, will support 34,000 new retail & construction jobs, planning $6.8 billion of US capital investments. $WMT PR link.
ExxonMobil(PBR2) to acquire companies doubling Permian Basin resource to 6 billion barrels of oil, to be purchased with $5.6 billion in shares upfront. $XOM PR link.
McKesson(PBR6) agrees to $150 million settlement with US Dept of Justice & US Drug Enforcement Agency for suspicious controlled substances orders reporting dating back to 2009. $MCK PR link.
General Motors(PBR8) to add 7,000 US jobs, invest additional $1 billion in manufacturing facilities, move axle production from Mexico to the US. $GM PR link.
Morgan Stanley(PBR79)‘s 15,763 Wealth Managers annualized average was $1+ million in fees per rep in 4Q16. $MS PR link.
Qualcomm(PBR106) says FTC complaint of business practices in violation of competition law is based on flawed legal theory. $QCOM PR link.
Altria(PBR110) acquires N Carolina based private super-premium cigarettes & premium cigars manufacturer Sherman Group Holdings, terms not disclosed. $MO PR link.
JCPenney(PBR234) to open 500 sf Nike(PBR98 $NKE) brand shops in 600+ retail stores. $JCP PR link.
Huntsman Corp(PBR244) to spinoff Pigments & Additives business as Venator Materials Corp(NYSE: VNTR) in 2Q17, excludes Textile Effects business. $HUN PR link.
Henry Schein(PBR270) completes acquisition of majority interest in Brazil’s dental supplies/equipment distributor $145 million/year Dental Cremer. $HSIC PR link.
Biogen(PBR282) agrees to settlement & licensing agreement with Forward Pharma, to pay $1.25 billion cash, plus future royalties on muscular sclerosis therapy. $BIIB PR link.
Caesars Entertainment(PBR314), Caesars Entertainment Operating Co get US Bankruptcy Court confirmation of CEOC’s Plan of Reorganization. $CZR PR link.
Reynolds American(PBR317) accepts $59.64/share, $49 billion cash/stock offer by British American Petroleum(BSE: BAT) to acquire 57.8% of stock it doesn’t own. $RAI PR link.
Liberty Media(PBR534) stockholders approve $8 billion acquisition of Formula 1 Racing, expected to close by end of 1Q17. $LMCA PR link.
FMC Technologies(PBR334) & France based Technip(EUROnext: TEC) complete $13 billion merger, now called TechnipFMC plc(NYSE: FTI), registered in England, headquarters in Houston, London, Paris. $FTI PR link.
Adobe Systems(PBR557) authorizes new up to $2.5 billion share repurchase program through end of FY 2019. $ADBE PR link.
Crown Castle(PBR603) completes $1.5 billion cash acquisition of NextEra Energy(PBR178)‘s fiber services provider FPL FiberNet. $CCI PR link.
Intl Flavors & Fragrances(PBR666) completes acquisition of $75 million/year private specialty fine fragances developer Fragrance Resources, terms not disclosed. $IFF PR link.
Werner(PBR862) celebrates 25,000th truck driving apprenticeship program veteran hire since partnership with US Dept of Labor & Dept of Veterans Affairs in 2006. $WERN PR link.
Revlon(PBR900) reorganizing into 4 brands structure, 5 regions, reorganizing corporate support functions. $REV PR link.
Lowe’s(PBR50) promotes Marshall Croom to CFO, succeeds retiring Robert Hull, Jr. $LOW PR link.
US Bancorp(PBR129) president/COO Andy Cecere to become CEO 04/18/17, succeeds Richard Davis who will be exedutive chairman. $USB PR link.
Mattel(PBR412) hires Margo Georgiadis as CEO, effective 02/08/17, succeeds Christopher Sinclair who will be executive chairman. $MAT PR link.
Zimmer Biomet(PBR512) promotes Rob Delp to President, Americas, succeeds retiring Stuart Kleopfer. $ZBH PR link.
Tiffany(PBR551) appoints Reed Krakoff to the newly created role of Chief Artistic Officer. $TIF PR link.
The US Federal Reserve Bank of New York says the January General Business Conditions Index at 6.5, -1.1 from December, +23.3 from January 2016. NYFed PR link.
Monday, January 16:
***US Stock Markets Closed.
***Federal Holiday: Martin Luther King, Jr. Day Observed.
Noble Energy(PBR471) to acquire Clayton Williams Energy(NYSE: CWEI) for $2.7 billion cash/stock. Includes 71,000 net contiguous acres in the Delaware Basin & 100,000 acres in the Permian Basin. $NBL PR link.
The Andersons(PBR525) to exit retail business, affects 1,050 people in Ohio, 75% part-timers. $ANDE PR link.
Aerojet Rocketdyne(PBR969) delivers 2,500th PAC-3 CRI Missile(aka Patriot) and 500,000th PAC-3 ACM. $AJRD PR link.
CF Industries(PBR502) hires Martin Jarosick as VP/Investor Relations. $CF PR link.
Diebold Nixdorf(PBR676) hires Devora Henderson as VP Retail-Americas. $DBD PR link.
Friday, January 13:
The PBRMarketTools Week Ending 01/13/17 US Stock Exchanges Recap:
DJIA ends week at 19,885.73, -0.39% from last Friday, +0.62% MTD, QTD, & YTD, -0.45% from record 19,974.62 set 12/20/16.
NASDAQ ends week at 5,574.12, +0.96% from last Friday, +3.55% MTD, QTD, & YTD, +0.00% from record 5,574.12 set 01/13/17.
SPX ends week at 2,274.64, -0.10% from last Friday, +1.60% MTD, QTD, & YTD, -0.10% fromrecord 2,276.98 set 01/06/17.
Boeing(PBR27) gets order for up to 205 airplanes from low cost carrier SpiceJet. $BA PR link.
NextEra Energy(PBR173) Florida Power & Light unit completes installation of 3 74.5 MW solar power plants, 4 more planned for 2017. $NEE PR link.
BlackRock(PBR252) authorizes up to an additional 6 million share buyback program, balance is 9 million. $BLK PR link.
KKR(PBR332) to acquire Japan based power tool/life sciences equipment manufacturer Hitachi Koki through $1.28 billion tender offer. $KKR PR link.
Newell Brands(PBR434) completes $100 million acquisition of WoodWick Candle; to sell $70 million/year Rubbermaid consumer storage business to United Solutions; puts up for sale Pine Mountain fire starters & Diamond matches related units, which generate $87 million/year. $NWL PR link.
Arthur J Gallagher(PBR515) acquires N Carolina based employee benefits consulting firm Hill, Chesson, & Woody. $AJM PR link.
Moody’s(PBR636) to pay $863.8 million in fines to US DOJ, 21 states, & DC to resolve civil claims related to credit ratings assigned during financial crisis era. $MCO PR link.
Macy’s(PBR97) involuntarily separates 34 year employee Chief Growth Officer Peter Sachse, effective 01/30/17, includes $2.7 million lump sum payment, other benefits under Executive Severance Plan. $M PR link.
HollyFrontier(PBR140) promotes Richard Voliva III to EVP/CFO effective 03/01/17, Mark Plake to become president of Petro-Canada Lubricants business upon completion of acquisition. $HFC PR link.
Kellogg(PBR198) hires Fareed Khan as CFO, effective 02/17/17, succeeds retiring Ron Dissinger. $K PR link.
Host Hotels(PBR455) EVP Asset Management Minaz Abji to retire on 04/30/17. $HST PR link.
CNO Financial(PBR559) promotes Doug Williams to VP, Finance & Administration. $CNO PR link.
Cinemark(PBR739) promotes Phillip Couch to EVP/Food & Beverage. $CNK PR link.
Conn’s(PBR986) hires Coleman R Gaines as president/COO of Retail, Casey Chung VP of Logistics, & David Hutchinson VP of Service. $CONN PR link.
The US Dept of Labor says US December Producer Price Index Total Demand was +0.3%, November was +0.4%, October +0.0%. USDOL PR link.
The US Dept of Commerce estimates US November Total Manufacturing, Retail, Wholesale Sales at $1.327 trillion, +0.12% from October, +2.28% from November 2015 USDOC PR link.
The US Dept of Commerce advance estimate of US December Retail Sales is $469.1 billion, +0.6% from November, +4.1% from December 2015. USDOC PR link.
Natl Retail Federation says US Holiday Sales were +4% over 2015, $658.3 billion, exceeded expectations, includes non-store sales. NRF PR link.
The University of Michigan preliminary US January Consumer Sentiment Index at 98.1, December was 98.2, November 93.8. UMich PR link.
International Trade: China Raises Anti-Dumping, Anti-Subsidy Taxes on U.S.-Made Animal Feed. Caixin Global PR link.
Thursday, January 12:
CVS Health(PBR11) announces lowest cash price Epineprine auto-injector now available, $109.99 for a 2 pack. $CVS PR link.
Amazon(PBR29) to create more than 100,000 new, full-time, full-benefit jobs across the U.S. over the next 18 months. $AMZN PR link.
Sears(PBR93 $SHLD) is ‘one sick puppy,’ and there may be no remedy. MarketWatch PR link.
Eli Lilly(PBR142) gets US Court of Appeals favorable ruling on Alimta vitamin regimen patent. $LLY PR link.
PG&E(PBR172) to eliminate 8 officers positions, 390 support services jobs, 800 non-employee contractors, and not fill 500 non-critical positions in streamlining effort. $PCG PR link.
Hess(PBR248) announces Payara-1 new oil discovery offshore Guyana. $HES PR link.
Blackstone(PBR352) & 50/50 partner Sanchez Energy(NYSE: SN) to acquire 318,000 gross oil/gas acreage in Western Eagle Ford for $2.3 billion from Anadarko(PBR154 $APC). $BX PR link.
TeamHealth(PBR498) stockholders approve $43.50/share, $6.1 billion cash acquisition by funds affiliated with Blackstone(PBR352 $BX). $TMH PR link.
Zimmer Biomet(PBR512) to pay $30.5 million penalty to DOJ and SEC regarding previously disclosed legacy Biomet FCPA matters. $ZBH PR link.
WPX Energy(PBR619) to add to Permian & Delaware oil/gas assets with $775 million cash buy of 19,000 net acres. $WPX PR link.
Tesla(PBR651) describes new national supercharging network plan. $TSLA PR link.
Cincinnati Bell(PBR1027) adding 300+ local call center agents. $CBB PR link.
Marathon Petroleum(PBR23) hires Dave Sauber as VP of Human Resources and Labor Relations, effective 02/01/17. $MPC PR link.
Salesforce(PBR453) hires Monica Langley as EVP/Global Strategic Affairs. $CRM PR link.
Arthur J Gallagher(PBR515) promotes Jim Durkin, Jr, from president to chairman, employee benefits division, Bill Ziebell becomes president. $AJM PR link.
Universal Corp(PBR833) CFO David Moore taking temporary medical leave of absence, other executive officers to cover position. $UVV PR link.
Brown & Brown(PBR972) promotes Julie Ryan to Chief People Officer. $BRO PR link.
The US Dept of Treasury says US Government December Receipts YTD(3 months) at $740.8 billion, Outlays $949.1 billion, Deficit $208.4 billion. Treasury PR link.
The US Dept of Labor estimates US December Year-over-Year Import Prices were +1.8%, Exports +1.1%. USDOL PR link.
Wednesday, January 11:
Amazon(PBR29) and JPMorgan Chase(PBR21 $JPM) introduce new Prime Rewards Visa Card with 5% back on all Amazon.com purchases and rewards everywhere else you shop. $AMZN PR link.
Walgreens Boots Alliance(PBR36 $WBA) to offer FedEx(PBR65 $FDX) dropoff and pickup at Walgreens locations nationwide. MarketWatch PR link.
Penske Automotive(PBR170) completes acquisition 5 l ofocations $350 million/year Pennsylvania based used vehicles retailer CarSense. $PAG PR link.
JM Smucker(PBR437) announces 6% average increases on Folger’s, Dunkin Donuts, Cafe Bustelo retail coffee brands. $SJM PR link.
Carnival Corp(PBR184)’s Cruise Lines unit hires Sean Kenny as SVP/Chief Information Officer, reports to CFO James Heaney. $CCL PR link.
Viacom(PBR212) promotes David Lynn to president/CEO of Viacom International Media Networks. $VIA PR link.
KKR Outlook for 2017: Paradigm Shift. $KKR PR link.
Tuesday, January 10:
General Motors(PBR8) adds $5 billion to share repurchase program, balance is $14 billion, no expiration date. $GM PR link.
Archer-Daniels-Midland(PBR34) to acquire Kansas based 5 facilities 300 employees pet food producer Crosswind Industries. $ADM PR link.
Kellogg(PBR198) to launch 50+ new products across morning foods, snacks, and frozen items. $K PR link.
Visteon(PBR351) announces new up to $400 million share repurchase authorization through 03/18. $VC PR link.
Dana(PBR382) to provide Navistar(PBR258) driveline components in multi-year commercial sales agreement. $DAN PR link.
Coty(PBR524) to acquire 60% stake for $600 million in online peer-to-peer social selling platform in beauty provider Younique. $COTY PR link.
Chipotle(PBR561) authorizes additional $100 million for share repurchase program, current remaining authorization is $200 million. $CMG PR link.
Werner(PBR862) celebrates 35,000th truck driver apprenticeship program enrollee. $WERN PR link.
Teleflex(PBR923) receives FDA 510(k) clearance for its Arrow® VPS Rhythm™ Device with Optional TipTracker™ Technology. $TFX PR link.
Dun & Bradstreet(PBR957) acquires $60 million/2016 OneSource maker Avention for $150 million. $DNBPR link.
The US Dept of Labor says US November New Hires at 5.219 million, +1.1% from October, -0.7% from November 2015. USDOL PR link.
The US Dept of Commerce estimates US November Wholesale Sales at $452.6 billion, +0.4% from October, +3.4% from November 2015. USDOC PR link.
US EIA estimates 2017 WTI oil price/barrel to average $52.50, 2018 $55.18, 2016 was $43.33. EIA PR link.
PurdueU/CME US Dec Ag Barometer at 132, Nov was 116, Oct 92. PurdueU/CME PR link.
FannieMae(PBR17) says US December Home Purchase Sentiment Index at 80.7, November was 81.2, December 2015 83.2. $FNMA PR link.
CoreLogic estimates US November Housing in Serious Delinquency at 1,004,000, -2.3% from October, -22.0% from November 2015. CoreLogic PR link.
Monday, January 9:
UnitedHealthGrp(PBR14) Optum unit to acquire Surgical Care Affiliates(NASDAQ: SCAI) for $57.00/share, $2.3 billion. $UNH PR link.
Cardinal Health(PBR26) agrees to pay $20 million to W Virginia in distribution of controlled substances lawsuit. $CAH PR link.
McDonald’s(PBR101) selling China/Hong Kong 20 year master franchise rights to CITIC Ltd, CITIC Capital, Carlyle Group(PBR581), McDonald’s partnership for up to $2.08 billion. $MCD PR link.
Southern Co(PBR155) Power subsidiary acquires 276 MW 120 wind turbines Texas based Bethel Wind Energy Center from Invenergy Services. $SO PR link.
Entergy(PBR227), NY State agree to close 1,000 employee Indian Point Energy Center in 2020-2021 for economic reasons. $ETR PR link.
Mylan(PBR346) to acquire Cold-EEZE® brand to further expand OTC business. $MYL PR link.
Williams Cos(PBR348) to convert economic general partner interest in Williams Partners(NYSE: WPZ) into 289 million non-economic units in $11.4 billion transaction, will then have 660 million common units, 72% of total outstanding. $WMB PR link.
Noble Energy(PBR471) completes $300 million acquisition of 7,200 net acres in the Reeves Cty, TX, S Delaware Basin. $NBL PR link.
Arthur J Gallagher(PBR515) acquires Maryland based national construction industry retail insurance broker Construction Risk Solutions. $AJG PR link.
Yahoo!(PBR519) at close of sale to Verizon(PBR15) to become Altaba, be an investment company. $YHOO PR link.
Beacon Roofing(PBR818) acquires NE region insulation distributor Eco Insulation Supply of Stamford, CT. $BECN PR link.
ResMed(PBR977) gets FDA approval for world’s smallest CPAP machine, the AirMini, to be launched later in 2017. $RMD PR link.
American Airlines(PBR69) promotes VP/Flight Service Hector Adler to SVP/Product & Service Delivery, being succeeded by Jill Surdek. $AAL PR link.
WellCare Health Plans(PBR221) hires Tim Trodden as SVP/Chief Human Resources Officer. $WCG PR link.
Rent A Center(PBR657) CEO Robert Davis resigns, chairman/founder/former CEO Mark Speese named interim CEO. $RCII PR link.
The US Federal Reserve Bank estimates US November Consumer Credit Outstanding at $3.750 trillion, +0.7% from October, +6.1% YTD. FRB PR link.
FannieMae(PBR17) says US December Home Purchase Sentiment Index® (HPSI) at 80.7, -0.5 from November. $FNMA PR link.
Friday, January 6:
The PBRMarketTools Week Ending 01/06/17 US Stock Exchanges Recap:
DJIA ends week at 19,963.80, +1.02% from last Friday, MTD, QTD, & YTD, -0.05% from record 19,974.62 on 12/20/16.
NASDAQ ends week at 5,521.06, +2.56% from last Friday, MTD, QTD, & YTD, +0.00% from record 5,521.06 on 01/06/17.
SPX ends week at 2,276.98, +1.70% from last Friday, MTD, QTD, & YTD, +0.00% from record 2,276.98 on 01/06/17.
Apple(PBR5 $AAPL) cuts CEO Tim Cook’s 2016 pay to $8.75 million from 2015’s $10.28 million, missed targeted revenue by 3.7%. MarketWatch PR link.
Penske Automotive(PBR170) to acquire UK’s 5 locations $340 million/year used vehicles retailer CarShop. $PAG PR link.
Pilgrim’s Pride(PBR310) completes $350 million cash acquisition of Upper Midwest premium branded chicken products GNP Company. $PPC PR link.
Insight(PBR460) completes $258 million acquisition of $771 million/year 570 employee IT services firm DataLink(NASDAQ: DTLK). $NSIT PR link.
Citrix(PBR658) GoTo business spinoff scheduled for 01/20/18, its merger with LogMein(NASDAQ: LOGM) on 01/31/17 in $65.31/share, $1.8 billion deal. $CTXS PR link.
Alexion Pharmaceutical(PBR840) gets FDA grant of Orphan Drug Designation for ALXN1210 for treatment of ultra rare blood disorder Paroxysmal Nocturnal Hemoglobinuria (PNH). $ALXN PR link.
The US Dept of Labor estimates US December Employment at 152.1 million, +0.04% from November, +1.4% from December 2015, Unemployment Rate 4.7% USDOL PR link.
The US Dept of Commerce estimates US December Factory New Orders at $458.4 billion, -2.4% from November, -0.3% from December 2015. USDOL PR link.
The US Dept of Commerce estimates US Total Exports Through November(11 months) at $2.022 trillion, Imports $2.476 trillion, Deficit $454 billion. USDOC PR link.
Thursday, January 5:
The PBR1000 December Snapshot 12
Top 5 Stock Price Gainers in 2016 Summary:
1. Cliffs Natural Resources(PBR830), $CLF +432%
2. AK Steel(PBR353), $AKS, +356%
3. US Steel(PBR229), $X, +314%
4. AMD(PBR533), $AMD, +295%
5. Navistar(PBR264), $NAV, +255%
Range: +432% to -80%
Companies >+0%: 730/1,000
Average: +12.1%
Median: +14.3%
Get the full Snapshot 12 list with more details and the 14 other analytical snapshots with a 2 month or significantly reduced annual The PBR1000 subscription today! Subscribe link.
Apple(PBR5) AppStore developers earned $20+ billion in 2016, +40% from 2015. $AAPL PR link.
T-Mobile(PBR95) has 8.2 million net adds in 2016, has 71.5 million subscribers at end of 2016. $TMUS PR link.
Amgen(PBR135) gets permanent injunction by courts against Sanofi & Regeneron(PBR708 $REGN) for cardiovascular disease therapy Repatha patent infringement, may be appealed. $AMGN PR link.
Stanley Black & Decker(PBR249) to acquire Craftsman Tools from Sears Holdings(PBR93 $SHLD) for $775 million plus ongoing royalties. $SWK PR link.
Iron Mountain(PBR663) acquires controlling interest in Dubai based 4 facilities records/information management company Endless DSS. $IRM PR link.
Gartner(PBR885) to acquire talent management insights provider CEB(NYSE: CEB) for $77.25/share, $2.6 billion stock/cash. $IT PR link.
Cenveo(PBR899) now in full compliance with NYSE listing standards, taken off watch list. $CVO PR link.
Staples(PBR122) hires Jeff Hall to newly created role of Chief Administration Officer and Vice Chairman. $SPLS PR link.
Eli Lilly(PBR142) president/CEO is now David Ricks, Christi Shaw hired as SVP/Bio-Medicines effective 04/03/17, organizational changes made. $LLY PR link.
Viacom(PBR212) names Sarah Levy COO of its Global Entertainment Group. $VIA PR link.
Davita Healthcare(PBR302) hires Joel Ackerman as CFO effective 03/01/17. $DVA PR link.
Dollar Tree(PBR309) promotes Gary Philbin to Enterprise President; Duncan Mac Naughton hired as president/COO of Family Dollar unit, reports to Philbin. $DLTR PR link.
Fifth Third Bancorp(PBR387) hires Jelena Williams as Chief Legal Officer/Corporate Secretary. $FITB PR link.
General Cable(PBR418) hires Juan Picon as SVP & president/North America. $BGC PR link.
Calumet Specialty(PBR431) hires D. West Griffin as EVP/CFO. $CLMT PR link.
Graphic Packaging(PBR553) promotes Joe Yost to SVP & president/Americas. $GPK PR link.
ITT Corp(PBR735) promotes Luca Savi to new COO role; Industrial Process president Aris Chicles leaving. $ITT PR link.
Zions Bancorp(PBR813) promotes Terry Shirey to president/CEO of Nevada State Bank, Dallas Haun remains chairman. $ZION PR link.
Griffon Corp(PBR890) promotes Mike Sarrica to SVP/Operations, Mark Traylor succeeds Sarrica as president/The AMES Co. $GFF PR link.
Markit US December Composite PMI at 54.1, November was 54.9, October 54.9. Markit PR link.
ISM US December NMI Index at 57.2%, November also 57.2%, December 2015 55.8%. ISM PR link.
ADP estimates US December Non-Farm Employment Services Jobs +169,000 from November, Manufacturing -16,000, 153,000 net gain. $ADP PR link.
Wednesday, January 4:
Apple(PBR5) to invest $1 billion in Softbank Vision Fund. MarketWatch PR link.
Ford(PBR10) leads US automakers with sales of 2,614,697 vehicles sold in 2016, best in 10 years. $F PR link.
AT&T(PBR12) announces 5G Evolution plans for 2017, includes 1Gbps speeds. $T PR link.
Amazon(PBR29) delivered record 2+ billion items for sellers worldwide in 2016. $AMZN PR link.
Amazon(PBR29) opening 2nd Jacksonville, FL, fulfillment center, to add 1,000+ full time jobs. $AMZN PR link.
Alphabet(PBR44 $GOOGL) Google unit being sued by US Dept of Labor for refusing to provide requested compensation data. USDOL PR link.
Sears Holdings(PBR93) obtains $500 million loan facility, $321 million secured by 46 real properties. $SHLD PR link.
Macy’s(PBR97) to close 68 of its 730 stores, eliminate 6,200 positions in 2017 in streamlining/efficiency effort. $M PR link.
Abbott Labs(PBR134) completes $25 billion cash/stock acquisition of cardiovascular medical devices developer St Jude Medical(PBR440 $STJ). $ABT PR link.
AutoNation(PBR148) holding 1 day hiring event on 01/10/17 in 15 cities, new hires start 01/23/17. $AN PR link.
Assurant(PBR268) to acquire housing protection products provider Green Tree Insurance for $125 million plus up to $25 million earn out. $AIZ PR link.
Blackstone(PBR352) to acquire only US based leading music rights organization SESAC. $BX PR link.
Terex(PBR357) completes $1.9 billion sale of Material Handling and Port Solutions Business to Finland based Konecranes. $TEX PR link.
Arthur J Gallagher(PBR515) acquires Chicago-based HR/benefits technology solutions provider Gruppo Marcucci. $AJG PR link.
Tesla(PBR651) & Panasonic begin mass production of lithium-ion batteries at Reno, NV, Gigafactory. $TSLA PR link.
Iron Mountain(PBR663) Crozier Fine Arts unit acquires arts/antiques storage provider Cirkers Williamsburg. $IRM PR link.
CME Group(PBR664) reached record average daily volume of 15.6 million contracts in 2016, up 12% from 2015. $CME PR link.
Albemarle(PBR792) receives final approval to expand lithium operations in Chile, 27 year agreement. $ALB PR link.
ResMed(PBR977) reaches historic one billionth night of sleep monitored. $RMD PR link.
Weight Watchers(PBR988) ranked #1 in four best diet categories by U.S. News & World Report. $WTW PR link.
TDS(PBR482) hires Dr. Daniel DeWitt as SVP/Human Resources effective 01/23/17, succeeds retiring Ted Herbert. $TDS PR link.
Coach(PBR496) hires Kevin Wills as CFO no later than 03/17. $COH PR link.
T Rowe Price(PBR570) CFO Kenneth Moreland to retire In 2017. $TROW PR link.
Hologic(PBR767) names Jan Verstreken as Regional President for Europe/EMEA/Canada. $HOLX PR link.
SeaWorld(PBR1013) hires Denise Godreau as Chief Marketing Officer. $SEAS PR link.
The US Federal Reserve Board releases FOMC minutes from 12/13-14/16 meeting, continued modest/moderate economic growth FRB PR link.
The Conference Board says US December New Help Wanted Online Jobs were 2.171 million, +2.5% from November, -9.7% from December 2015. TCB PR link.
Automotive News says US December New Auto Sales at 1,688,368, +22.5% from November, +3.0% from December 2015, Annual Rate at 18.38 million. Automotive News PR link.
Tuesday, January 3:
The PBR1000 December Snapshot 11
Top 5 Stock Price Gainers Summary:
1. Fred’s(PBR800), $Fred, +86%
2. Pier 1 Imports(PBR847), $PIR, +53%
3. Tailored Brands(PBR580), $TLRD, +36%
4. Bristow Group(PBR887), $BRS, +31%
5. Alliance One Intl(PBR843), $AOI, +30%
Range: +86% to -85%
Companies >+0%: 609/1,000
Average: +0.9%
Median: +1.35%
Get the full Snapshot 11 list with more details and the 14 other analytical snapshots with a 2 month or significantly reduced annual The PBR1000 subscription today! Subscribe link.
Ford(PBR10) adding electrified F-150, Mustang, Transit by 2020; Expanded US plant to add 700 jobs to make electrified vehicles, autonomous cars; cancels $1.6 billion Mexico plant investment. $F PR link.
AIG(PBR46) completes $3.4 billion sale of private mortgage insurance unit United Guaranty Corporation to Arch Capital Group(NASDAQ: ACGL). $AIG PR link.
Intel(PBR51) to acquire 15% ownership of Netherlands based digital mapping for luxury brand autonomous vehicles/IoT services provider HERE. $INTC PR link.
Community Health Systems(PBR125) completes $128 million sale of majority interest in Home Health division to Almost Family((NASDAQ: AFAM). $CYH PR link.
Eli Lilly(PBR142) Elanco Animal Health unit completes $885 million acquisition of Boehringer Ingelheim Vetmedica‘s US feline, canine and rabies vaccines portfolio. $LLY PR link.
Xerox(PBR144) completes separation of independent public business process outsourcing firm Conduent, now focused on digital print technology. $XRX PR link.
Icahn Enterprises(PBR147) increases tender offer for Federal-Mogul from $9.25/share to $10.00/share, expires 01/17/17. $IEP PR link.
Allergan(PBR219) gets FDA approval of NATRELLE INSPIRA® SoftTouch Breast Implants. $AGN PR link.
JCPenney(PBR234) sells 45 acre Plano, TX, home office campus for $353 million, will lease back 65% of the office building. $JCP PR link.
Air Products(PBR267) completes $3.8 billion Performance Materials Division sale to Germany based Evonik. $APD PR link.
Blackstone(PBR352) to acquire largest US outsourced skilled craftsman workforce provider, Tradesmen International, from Wellspring Capital Management. $BX PR link.
Ingredion(PBR415) completes $400 million acquisition of TIC Gums. $INGR PR link.
Alliance Data(PBR462) authorizes up to $500 million new share repurchase program for 2017. $ADS PR link.
Arthur J. Gallagher(PBR515) acquires Brisbane, Australia, financial services advisory firm Complete Financial Balance Pty Ltd. $AJG PR link.
Brunswick(PBR584)’s Mercury Marine announces exclusive Southeast Asia distribution agreement with Singapore based Supratechnic. $BC PR link.
H&R Block(PBR669) opens 10,000 offices nationwide for tax season. $HRB PR link.
Hologic(PBR767) gets FDA PMA approval for Aptima® HIV-1 Quant Assay. $HOLX PR link.
Albemarle(PBR792) completes $145 million acquisition of lithium salts production assets in China. $ALB PR link.
Southwest Gas(PBR867) completes holding company reorganization, now Southwest Gas Holdings, Inc, stock symbol stays SWX. $SWX PR link.
American Axle & Mfg(PBR602) promotes Donald E. Wright to VP/CIO. $AXL PR link.
Welltower(PBR635) extends CEO contract through 04/20, announces new organization structure, eliminates investment officer & COO positions. $HCN PR link.
HCP(PBR834) promotes CFO Tom Herzog to CEO, Justin Hutchens to president, CFO search starts. $HCP PR link.
IDEX(PBR861) promotes William Grogan to CFO. $IEX PR link.
hhgregg(PBR864) hires Aaron Trahan as Chief Merchandising Officer. $HGG PR link.
On Assignment(PBR918) promotes Ted Hanson to President. $ASGN PR link.
The US Dept of Commerce estimates US November Construction Spending Annual Rate at $1.182 trillion, +0.9% from October, +5.8% from November 2015. USDOC PR link.
Markit US December Final PMI at 54.3, November was 54.1, October 53.4. Markit PR link.
ISM US December PMI Index at 54.7%, November was 53.2%, October 51.9%. ISM PR link.
Monday, January 2:
***US Stock Markets Closed.
***Federal Holiday: New Year’s Day Observed.
Sunday, January 1:
***Happy New Year!***
(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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