July 2016: Happy New Half Year!
The Round 1 Primary Season is Over; The Round 2 Campaigning Stage has been set.
By Larry C. Paxton
At the beginning of July 2016 the possible ramifications of Brexit, the vote that will remove the UK as a member of the European Union, was the major news and continued to play an important part throughout July 2016. Bottomline, a new prime minister moved into 10 Downing Street, the world did not fall apart, and experts from all kinds of disciplines are still struggling at making projections on what the effect will be short term and long term.
In contrast, the big news at the end of July 2016 was the formal selection of outspoken, sometimes crude, often politically incorrect, business tycoon, ‘law-and-order’ Donald Trump as the Republican candidate and scandal ridden, perceived by many as too secretive, untrustworthy and paranoid but very politically experienced Hillary Clinton as the Democratic candidate for the next president of the US. Both vice president picks have higher positive ratings than the partners who selected them.
The next almost 100 days will be filled with lots of vitriol, huge spending on negative political ads, drama filled debates with incomplete or blatant false facts, impossible promises, and who knows what kind of last minute surprises. May the good Lord have mercy on the souls of the American voter during this process.
In between Brexit and the US presidential candidates being selected there were the usual number of mergers/acquisitions, mixed earnings reports, and moderate at best economic data.
As August starts let’s pray for a safe and exciting XXXI Olympiad in Rio de Janeiro that displays the best in athletic competition, achievement, and outstanding sportsmanship. May it be a great model for the business world as well.
Following are The PBR1000 and economic related breaking news items of interest for July 2016, starting with the last active business day.
Friday, July 29:
The PBR1000 End of July US Stock Exchanges Snapshot:
DJIA ends July at 18,432.24, -0.75% from last Friday, +2.80% MTD/QTD, +5.78% YTD, -0.88% from record 18,595.03 on 07/20/16.
NASDAQ ends July at 5,162.13, +1.22% from last Friday, +6.60% MTD/QTD, +3.09% YTD, -1.09% from record 5,218.86 on 07/20/15.
SPX ends July at 2,173.60, -0.07% from last Friday, +3.56% MTD/QTD, +6.34% YTD, -0.07% from record 2,175.03 on 07/22/16.
NextEra Energy(PBR173) to acquire Energy Future Holdings’ interest in Oncor Electric Delivery company for $18.4 billion. $NEE PR link.
KeyCorp(PBR544) completes $4.1 billion acquisition of First Niagara Financial(PBR980 $FNFG). $KEY PR link.
Welltower(PBR635) promotes Mercedes Kerr to EVP/Business Development. $HCN PR link.
The US Dept of Commerce estimates that theUS 2Q2016 Gross Domestic Product Annual Rate is at 1.2%, $18.438 trillion, 1Q2016 revised to 0.8%. USDOC PR link.
The US Dept of Labor says 2Q2016 Employment Cost Index(2005=100) for All Civilian Workers at 126.7, 1Q2016 was 126.0, 2Q2015 was 123.8. USDOL PR link.
The July MNI Chicago Business Barometerat 55.8, June was 56.8, May was 49.3. MNICBBPR link.
Thursday, July 28:
Oracle(PBR78) to acquire cloud based business services provider NetSuite(NYSE: $N) for $109.00/share, $9.3 billion. $ORCL PR link.
Avnet(PBR100) to acquire UK based global distributor of electronic & related componentsPremier Farnell plc for $2.46/share, $919 million cash. $AVT PR link.
Manpower(PBR132) authorizes additional 6 million shares repurchase program, balance is now 7.5 million. $MAN PR link.
CBS(PBR210) adds $5 billion to stock repurchase program, total available now $6 billion. $CBS PR link.
Air Products(PBR267) files SEC Form 10 for independent public company spin-off Versum Materials, to start trading in October. $APD PR link.
Cognizant Technology(PBR272) acquires private 170 person digital innovation, strategy & design firm Idea Couture. $CTSH PR link.
Alliance Data(PBR462) to provide private label & co-branded credit card services for 886 storesUlta Salon(PBR646 $ULTA). $ADS PR link.
Brunswick(PBR584) to acquire Germany based $41 million/2015 Indoor Cycling Group.$BC PR link.
Tempur Sealy(PBR687) adds $200 million to share repurchase program, balance is $344 million. $TPX PR link.
IDEX(PBR861) to acquire global Swiss based metal-to-metal seal & flow control solutions manufacturer SFC Koenig AG for $239 million.$IEX PR link.
New York Times(PBR971) 2Q2016 revenues at $372.6 million, $54.1 million from digital news subscriptions, 51,000 net new subscribers for digital news products. $NYT PR link.
M&T Bank(PBR504) hires Doris Meister as EVP, to head Wilmington Trust wealth unit.$MTB PR link.
GNC(PBR743) CEO Michael Archbold steps down, independent board member Robert Moran now interim CEO. $GNC PR link.
The US Dept of Labor says 07/16/16 US Total 4 Week Moving Average Unemployment Claims at 2.135 million, +.1% from June, -5.3% from July 2015. USDOL PR link.
The US Dept of Commerce estimates US 2nd Quarter Home Occupancy at 118.3 million units, Owner Occupied 74.4 million, Ownership Rate 62.9%. USDOC PR link.
The US Energy Information Administrationreports 07/22/16 Crude Oil Stocks at 521.1 million barrels, -1.0% from June, +13.4% from July 2015. EIA PR link.
FreddieMac(PBR44) says 07/28/16 Average 30 Year Fixed Mortgage Rate at 3.48%, 06/30/16 was 3.48%, 07/30/15 was 3.98%.$FMCC PR link.
Wednesday, July 27:
Amazon(PBR29) to open 800,000 sf fulfillment center in Jacksonville, FL, will create 1,500 fulltime positions. $AMZN PR link.
Anthem(PBR38) increases enrollment in FY2016 by 1.2 million, now has 39.8 million members. $ANTM PR link.
Mondelez(PBR87) to enter China’s growing $2.8 billion chocolate market, to introduce Milkabrand products in September. $MDLZ PR link.
T-Mobile US(PBR95) 2Q2016 total net adds at 1.9 million, customer base at 67+ million.$TMUS PR link.
Alcoa(PBR115) to ask shareholders on 10/05/16 to approve 1 for 3 reverse stock split.$AA PR link.
Dollar General(PBR151) purchases 41 formerWalmart(PBR1) Express stores for relocating existing DG stores. $DG PR link.
Facebook(PBR228) 2Q2016 rpt says June Daily Active Users at 1.13 billion, 1.03 billion from mobile users. $FB PR link.
LabCorp(PBR413) to acquire NIPT, women’s health & reproductive genetics providerSequenom(NASDAQ: SQNM) for $2.40/share, $302 million cash. $LH PR link.
Arthur J Gallagher(PBR515) acquires Miami, FL, managing general agency Gabor Insurance Services. $AJG PR link.
Brookdale Senior Living(PBR587) to sell 44 communities across 12 states for $252.5 million.$BKD PR link.
Alliant Energy(PBR634) to invest $1 billion to expand wind energy operations in Iowa. $LNTPR link.
Eli Lilly(PBR142) chairman John Lechleiter resigning president/CEO role 01/01/17, David Ricks to become president/CEO, then add chairman role 06/01/17. $LLY PR link.
Triumph Group(PBR578) hires Jim McCabe as CFO, effective 08/08/16. $TGI PR link.
Erin Nuxoll re-joins Boise Cascade(PBR610)as VP/Human Resources. $BCC PR link.
The US Federal Reserve releases FOMCminutes from 07/26-27/16 meeting, keeps federal funds rate at 0.25-0.50%. FRB PR link.
FreddieMac 1Q2016 Apartment Investment Market Index at 107.37, +0.30% from 4Q2015, -3.22% from 1Q2015 $FMCC PR link.
Tuesday, July 26:
Citrix(PBR658)’s GoTo business to merge withLogMeIn(NASDAQ: LOGM) in $65.31/share, $1.8 billion deal. $CTXS PR link.
Analog Devices(PBR701) to acquire high performance analog integrated circuits developer Linear Technology(PBR1011 $LLTC) for $60.00/share, $14.8 billion stock/cash. $ADI PR link.
The US Dept of HUD estimates US June New Family Home Sale Median Price at $306,700, +6.2% from May, +6.1% from June 2015. HUDPR link.
The S&P CoreLogic Case-Shiller May Home Prices Index(Jan2000=100) is 180.70, April was 178.61. SPICE PR link.
The Conference Board says July Consumer Confidence Index(1985=100) at 97.3, June was 97.4. TCB PR link.
Monday, July 25:
Verizon(PBR15) to acquire Yahoo!(PBR519 $YHOO)‘s operating business for $4.83 billion cash, combine it with AOL unit. $VZ PR link.
Sprint(PBR86) reports postpaid phone net additions of 173,000 in 1Q2017, highest in 9 years. $S PR link.
ConAgra(PBR166) completes sales of its JM Swank and SpiceTec Flavors & Seasoningsunits for $488 million. $CAG PR link.
American Financial(PBR435) to acquire remaining non-owned shares of National Interstate(NASDAQ: $NATL) for $32.00/share, $320 million. $AFG PR link.
Molson Coors(PBR558) announces leadership appointments to take effect upon close ofMillerCoors acquisition. $TAP PR link.
Outerwall(PBR824) to be acquired by Apollo Global Mgmt(PBR906 $APO) for $52.00/share, $1.6 billion cash. $OUTR PR link.
AMC Entertainment(PBR851) makes final offer to Carmike Cinemas(NASDAQ: $CKEC)for $33.06/share, $1.21 billion cash/stock.$AMC PR link.
E*Trade(PBR930) to acquire Aperture New Holdings, parent of $104 million/2015OptionsHouse, for $725 million. $ETFC PR link.
Friday, July 22:
The PBR1000 Week Ending 07/22/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,570.85, +0.29% from last Friday, +3.57% MTD/QTD, +6.58% YTD, -0.13% from record 18,595.03 on 07/20/16.
NASDAQ ends week at 5,100.16, +1.40% from last Friday, +5.32% MTD/QTD, +1.85% YTD, -2.27% from record 5,218.86 on 07/20/15.
SPX ends week at 2,175.03, +0.61% from last Friday, +3.63% MTD/QTD, +6.41% YTD, +0.00% from record 2,175.03 on 07/22/16.
Honeywell(PBR74) splitting Automation & Control Solutions unit into 2 units,Home/Building Technologies &Safety/Productivity Solutions. $HON PR link.
Liberty Interactive(PBR263) completes spinoff of independent public companyCommerceHub, to start trading 07/25/16.$QVCA PR link.
ON Semiconductor(PBR656) extends $20/share, $2.4 billion cash tender offer forFairchild Semiconductor(PBR1000 $FCS) to 08/04/16, currently has commitment of 53.1% of shares. $ON PR link.
Stanley Black & Decker(PBR249)president/COO James Loree to be president/CEO on 08/01/16, John Lundgren to remain chairman through 2016. $SWK PR link.
Patterson Cos(PBR542) hires Todd Marshall as chief marketing/digital officer. $PDCO PR link.
Thursday, July 21:
ExxonMobil(PBR2) to acquire Papua New Guinea based oil & gas developerInterOil(NYSE: IOC) for $2.5 billion. $XOM PR link.
MasterCard(PBR16) to acquire 92.4% of UK based payments technology provider VocaLinkfor $920 million. $MA PR link.
Anthem(PBR38) says US Dept of Justicelawsuit to prevent merger with Cigna(PBR85 $CI) is unfortunate & misguided. $ANTM PR link.
Comcast(PBR42) to offer Xfinity TV/Internet Prepaid Services nationwide by end of 2017, to partner with 4,400 Boost Mobile locations.$CMCSA PR link.
Aetna(PBR49) & Humana(PBR58 $HUM) to defend pending merger in response to US Dept of Justice lawsuit. $AET PR link.
Johnson Controls(PBR68) expects to accelerate merger with Tyco plc(NYSE $TYC), to close 09/02/16. $JCI PR link.
General Mills(PBR162) restructuring global supply chain, to cut 1,400 jobs in US, Brazil, & China operations. $GIS PR link.
PPG Industries(PBR190) to sell flat glass & glass coatings businesses to Vitro SAB for $750 million cash. $PPG PR link.
PayPal & VISA(PBR224 $V) form strategic partnership to extend consumer payment choice, especially digital. $PYPL PR link.
VISA(PBR224) adds $5.0 billion to share repurchase program, balance is $7.3 billion. $VPR link.
Dana Holding(PBR382) changing name toDana Inc, effective 08/01/16. PayPal PR link.
Joy Global(PBR590) to be acquired by Japan based Komatsu for $3.7 billion cash. $JOY PR link.
21st Century Fox(PBR91) TV units chairman/CEO Roger Ailes resigns, Ruport Murdoch now chairman/acting CEO. $FOX PR link.
JCPenney(PBR234) CEO Marvin Ellison to also be chairman upon retirement of Mike Ullman, III, on 08/01/16. $JCP PR link.
Biogen(PBR282) CEO George Scangos to leave in coming months after successor identified. $BIIB PR link.
The Philadelphia Federal Reserve says July Manufacturing General Activity Indicator at -2.9, June was 4.7. PhillyFed PR link.
The National Assn of Realtors says June Existing Home Sales at a 5.570 million annual rate, +1.1% from May, +3.0% from June 2015.NAR PR link.
The Conference Board June Leading Economic Index at 123.7, +0.3% from May.TCB PR link.
Wednesday, July 20:
Kroger(PBR20) Axium Pharmacy unit to acquire specialty pharmacy Modern HC, operate as wholly own subsidiary. $KR PR link.
Dow Chemical(PBR48) & DuPont(PBR82 $DD) shareholders approve merger, spinoff into 3 separate independent companies, expected to close 2H2016. $DOW PR link.
Molson Coors(PBR558) gets USDOJ approval for acquisition of SABMillers 58% stake inMillerCoors. $TAP PR link.
Sprint(PBR86) hires Ismat Aziz as SVP/Human Resources, succeeds retired Sandy Price. $SPR link.
Occidental Petroleum(PBR123) hires Oscar Brown as SVP/Worldwide Business Development. $OXY PR link.
ADP(PBR235) 2Q2016 Workforce Vitality Index at 109.6, +2.7% from 2Q2015. $ADP PR link.
Tuesday, July 19:
EMC Corp(PBR111) shareholders vote to approve $59 billion acquisition by Dell, closing on track. $EMC PR link.
Monsanto(PBR187) rejects as financially inadquate Bayer AG(XETRA: BAY) revised acquisition offer, remains open to further discussion. $MON PR link.
Mattel(PBR412) awarded worldwide master toy licensee for Jurassaic World byComcast(PBR42 $CMCSA) NBC Universalunit. $MAT PR link.
Kroger(PBR20) Houston division president Bill Breetz retiring; 3 new division presidents named.$KR PR link.
Rent A Center(PBR657) promotes Jim York to EVP/RTO Domestic Operations. $RCII PR link.
Toro(PBR855) president/COO Richard Olson elected to president/CEO, effective 11/01/16, Michael Hoffman to remain chairman. $TTC PR link.
The US Dept of Commerce says Total June Private Housing Building Permits at 1,153,000, +1.5% from May, -13.57% from June 2015. USDOC PR link.
FreddieMac(PBR44) releases July Insight, focus on 55+ housing market. $FMCC PR link.
Monday, July 18:
Johnson & Johnson(PBR37) completes $3.3 billion cash acquisition of privately held hair care products provider Vogue International. $JNJPR link.
NextEra Energy(PBR173) & Hawaiian Electric(PBR647 $HE) agree to terminate merger agreement per Hawaiian Public Utilities Commission order. $NEE PR link.
Ross Stores(PBR253) opens 31 new locations in June & July, on track to open 90 in 2016.$ROST PR link.
Netflix(PBR447) to beam new CBS(PBR210) “Star Trek” TV series in 188 countries in exclusive licensing deal. $NFLX PR link.
Netflix(PBR447) adds 1.7 million subscribers in Q2, below 2.5 million forecast, now at 83 million subscribers. $NFLX PR link.
Moody’s(PBR636) acquires full ownership of credit ratings, reseach, & other services Korea Investor Services, terms not disclosed. $MCOPR link.
Hawaiian Electric(PBR647) to move forward as an independent company, American Savings Bank unit will not be spunoff. $HE PR link.
Boeing(PBR27) SVP Engineering, Test & Technology Greg Hyslop adds Chief Technology Officer role, succeeds retiring John Tracy, reports to chairman/president/CEO Dennis Mullenburg. $BA PR link.
FTI Consulting(PBR941) hires Ajay Sabherwal as CFO, effective 08/15/16. $FCN PR link.
Friday, July 15:
The PBR1000 Week Ending 07/15/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,516.55, +2.04% from last Friday, +3.27% MTD/QTD, +6.26% YTD, +0.00% from record 18,516.55 on 07/15/16.
NASDAQ ends week at 5,029.59, +1.47% from last Friday, +3.86% MTD/QTD, +0.44% YTD, -3.63% from record 5,218.86 on 07/20/15.
SPX ends week at 2,161.74, +1.49% from last Friday, +3.00% MTD/QTD, +5.76% YTD, -0.09% from record 2,163.75 on 05/21/15.
Amazon(PBR29) to open 10th fulfillment center in California in Sacramento, to employ 1,000 fulltime people. $AMZN PR link.
HanesBrands(PBR459) completes $800 million acquisition of Australia based underwear/intimate apparel company Pacific Brands. $HBI PR link.
Herbalife(PBR487) to pay FTC $200 million in settlement agreement, to continue business model, to allow Carl Icahn to acquire up to 34.99% of common shares. $HLF PR link.
The US Dept of Labor says June Current Average Earnings Per Hour at $25.61, +0.08% from May, +2.6% from June 2015.USDOL PR link.
The US Dept of Labor says US June Consumer Price Index +0.2% from May, food at -0.1%, energy at +1.3%. USDOL PR link.
The US Dept of Commerce says US May Manufacturing/Trade Total Sales at $1.292 trillion, +0.25% from April, -1.44% from May 2015. USDOC PR link.
The US Dept of Commerce says US June Retail Trade Sales at $457.0 billion, +0.56% from May, +2.72% from June 2015. USDOC PR link.
The US Federal Reserve says US June % of Industrial Capacity at 75.4%, May was 74.9%, growth over previous year +0.6%. FRB PR link.
The NY Federal Reserve July Empire State Manufacturing General Business Conditions Index at 0.6, July was 6.0. NYFEDPR link.
The U of Michigan says Preliminary US July Consumer Index Sentiment at 89.5, June was 93.5, July 2015 was 93.1. UMich PR link.
The NAHB/Wells Fargo July National Housing Market Index at 59, June was 60, July 2015 was 60. NAHB/WF PR link.
Thursday, July 14:
Devon Energy(PBR143) sells its 50% interest in Access Pipeline for $1.1 billion, completes divestiture plan. $DVN PR link.
Regions Financial(PBR450) announces $640 million common stock repurchase program. $RFPR link.
Alliance Data(PBR462) to manage loyalty driven private label credit card program for The Childrens Place(PBR939 $PLCE). $ADS PR link.
Cree(PBR964) to sell Wolfspeed Power and RF Division to Infineon Technologies AG(FSE: IFX) for $850 million cash. $CREE PR link.
ConAgra(PBR166) hires David Marberger as EVP/CFO, effective 08/29/16, succeeds retiring John Gehring. $CAG PR link.
Coach(PBR496) hires Wendy Kahn as Stuart Weitzman unit CEO & brand president, effective 09/13/16. $COH PR link.
Brink’s(PBR613) hires Ron Domanico as CFO, Rohan Pal as Chief Information & Digital Officer.$BCO PR link.
The US Dept of Labor says June Total Producer Price Index was +0.5% from May, May was +0.4%, +0.3% over last 12 months.USDOL PR link.
Adobe Systems(PBR557) releases Adobe Digital Economy Project June 2016, shows continued deflation in the vast majority of goods and services. $ADBE PR link.
Wednesday, July 13:
Amazon(PBR29) says 07/12/16 Prime Dayexceeded 2015 by over 60% worldwide, over 50% in the US. $AMZN PR link.
SuperValu(PBR164) to expand wholesale business with acquisition of 22 Food Lionstores in WV, PA, MD, VA. $SVU PR link.
ConAgra(PBR166) files SEC Form 10 registration for planned fall spin-off of independent public potato foods provider Lamb Weston, names key leadership. $CAG PR link.
Starbucks(PBR178) to be global licensee/investor in boutique bakery/cafe Italian restaurant Princi. $SBUX PR link.
Entergy(PBR227) in talks to sell its Fitzpatrick Nuclear Power Plant in Scriba, NY, toExelon(PBR102 $EXC). $ETR PR link.
AAR Corp(PBR883) acquires the SPACEMAX®product line of high-tech, hard-wall, rapid-deployment mobile shelters used in commercial, military and humanitarian operations. $AIR PR link.
Alaska Air(PBR454) names Peter Hunt as president of subsidiary Virgin America, to be CEO with acquisition close. $ALK PR link.
AAR Corp(PBR883) to promote Tim Romenesko to vice chairman/CFO, effective 08/01/16, succeeds retiring Michael Sharp. $AIRPR link.
The US Dept of Treasury says US June Receipts at $329.6 billion, Outlays $323.3 billion, Surplus $6.3 billion, YTD Deficit $400.8 billion. Treasury PR link.
The US Dept of Labor says the June US Import Price Index Year-to-Year at -4.8%, Exports -3.5%. USDOL PR link.
The US Federal Reserve releases mid May-end of June Beige Book, summarizes US economy as growing at a modest pace. FRB PR link.
Tuesday, July 12:
JPMorgan Chase(PBR21) to raise minimum hourly wages from $10.15 to $12.00-16.50 over next 3 years for 18,000 employees, increase benefits & training. $JPM PR link.
Starbucks(PBR178) to raise prices $0.10-0.30 on 35% of beverages offered. $SBUX PR link.
KeyCorp(PBR544) gets okay for $4.1 billion acquisition of First Niagara Financial(PBR980), to close around 08/01/16.$KEY PR link.
Triumph Group(PBR578) promotes MaryLou Thomas to EVP, Aerospace Structures. $TGI PR link.
AMC Entertainment(PBR728) to acquire UK based largest Europe theatre exhibitor Odeon & UCI Cinemas Group for $1.199 billion cash/stock. $AMCX PR link.
AMC Entertainment(PBR728) reiterates its intent to acquire Carmike Cinemas(NASDAQ: $CKEC) for $30/share, $1.1 billion but confirms deal at risk. $AMCX PR link.
Kroger(PBR20) Roundy’s unit CEO Bob Mariano to retire 09/01/16. $KR PR link.
Intuit(PBR529) hires Lucas Watson as EVP & Chief Marketing and Sales Officer. $INTU PR link.
Polaris Industries(PBR531) promotes Craig Scanlon to new position of Chief Marketing Officer. $PII PR link.
The US Dept of Labor estimates Total May US Job Openings at 5.5 million, -5.9% from April, +2.1% from May 2015. USDOL PR link.
The US Dept of Commerce estimates Total US May Monthly Wholesale Trade at $435.5 billion, +0.5% from April, -2.44 from May 2015.USDOC PR link.
FreddieMac releases US July Outlook, expects GDP to be 1.9% in 2016, 2.2% in 2017.$FMCC PR link.
Corelogic estimates Total May US Seriously Delinquent Mortgage Payments at 1.113 million, -21.6% from May 2015. CoreLogic PR link.
Retailers leased the most warehouse space in more than 30 years during second quarter.MarketWatch PR link.
Monday, July 11:
Southern Co(PBR155) & Kinder Morgan(PBR181 $KMI) enter 7,600 mileSouthern Natural Gas Pipeline strategic venture. $SO PR link.
Starbucks(PBR178) to increase wages 5-15% for all partners/store managers, effective 10/03/16. $SBUX PR link.
Caesars Entertainment(PBR314) & Caesars Acquisition Co amend & restate merger agreement. $CZR PR link.
Visteon(PBR351) completes acquisition of India based 140 employee automotive multimedia systems supplier AllGo Systems. $VC PR link.
Salesforce(PBR453) completes $75/share, $2.8 billion cash acquisition of global digital commerce market cloud leaderDemandware(NYSE: DWRE). $CRM PR link.
Skechers USA(PBR808) expands European Distribution Center to 98,500 sq meters, largest in southern Belgium. $SKX PR link.
Avnet(PBR100) appoints board member Bill Amelio as interim CEO, replaces leaving Rick Hamada. $AVT PR link.
Staples(PBR122) promotes Steve Matyas to President, North American Retail. $SPLS PR link.
HCP(PBR831) executive chairman Michael McKee adds interim president/CEO role with departure of Lauralee Martin. $HCP PR link.
BOK Financial(PBR1021) promotes Marty Grunst to Chief Risk Officer. $BOKF PR link.
Aircraft Industry: Boeing(PBR27) forecasts demand for 39,620 new airplanes valued at $5.9 trillion over next 20 years. $BA PR link.
Friday, July 8:
The PBR1000 Week Ending 07/08/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,146.74, +1.10% from last Friday, +1.21% MTD/QTD, +4.14% YTD, -0.90% from record 18,312.39 on 05/19/15.
NASDAQ ends week at 4,956.76, +1.94% from last Friday, +2.36% MTD/QTD, -1.01% YTD, -5.02% from record 5,218.86 on 07/20/15.
SPX ends week at 2,129.90, +1.28% from last Friday, +1.48% MTD/QTD, +4.21% YTD, -0.04% from record 2,130.82 on 05/21/15.
Southern Co(PBR155) & Turner Renewable Energy acquire N Carolina 74 MW Rutherford Farm solar facility. $SO PR link.
ON Semiconductor(PBR656) extends $20/share, $2.4 billion cash tender offer forFairchild Semiconductor(PBR1000 $FCS) to 07/21/16, currently has commitment of 50.9% of shares. $ON PR link.
Equinix(PBR793) promotes Mike Campbell as Chief Sales Officer. $EQIX PR link.
Cenveo(PBR899) to do 1-for-8 reverse stock split on 07/13/16. $CVO PR link.
The US Dept of Labor estimates Total US June Employed at 151.1 million, +67,000 from May, >strong>Unemployment Rate at 4.9%, June 2015 was 5.3%. USDOL PR link.
Thursday, July 7:
Southern Co(PBR155) acquires 102 megawatt Texas’ Lamesa Solar Facility, to be operational by mid 2017. $SO PR link.
Alpha Natural Resources(PBR548) to emerge from bankruptcy in late 07/16, to operate as a private company. $ANRZQ PR link.
WhiteWave Foods(PBR624) to be acquired by France based global food company Danone for $56.25/share, $12.5 billion cash, to close by 2016 end. $WWAV PR link.
PayChex(PBR770) authorizes up to $350 million share repurchase program through 05/31/19. $PAYX PR link.
Revlon(PBR900) hires Pamela Hill Alabaster to lead Global Corporate Communications/Social Responsibility. $REV PR link.
ADP says the US June Employment is +172,000 from May, +95,000 from small , +52,000 from medium, and +25,000 from large businesses. $ADP PR link.
Wednesday, July 6:
Southern Co(PBR155) acquires controlling interest in 102 MW Henrietta Solar Project in Kings Cty, CA, from SunPower(PBR680 $SPWR). $SO PR link.
Kinder Morgan(PBR181) gets new 10 year $900 million agreement to provide in-plant terminal resources for Nucor Corp(PBR130 $NUE). $KMI PR link.
Huntsman Corp(PBR244) to close S Africa 140 employee 25K metric ton titanium dioxide plant, save $200+ million. $AJG PR link.
Assurant(PBR268) acquires private $48 million/year title & valuation services providerAmerican Title for $45 million. $AIZ PR link.
MGM Resorts(PBR273) & NRG Energy(PBR186 $NRG) complete installation of nation’s largest rooftop solar array. $MGM PR link.
Gannett(PBR414) acquires certain publications/events assets of North Jersey Media Group, to contribute $90 million revenues/year. $GCI PR link.
Packaging Corp(PBR425) to acquire independent corrugated products producer $324 million/2015 TimBar for $386 million cash.$PKG PR link.
Alleghany Corp(PBR467) Jazwares unit acquires Boston based children/young adult musical instruments provider First Act. $Y PR link.
Arthur J Gallagher(PBR515) acquires 85% in Swedish based $11 million/yr specialty insurance/reinsurance broker Brim AB. $AJGPR link.
MSC Industrial(PBR715) to launch self-tender offer, do stock repurchase program up to $390 million. $MSM PR link.
Nortek(PBR763) to be acquired by industrial manufacturer UK based Melrose Industries PLC for $86.00/share, $2.8 billion cash. $NTKPR link.
D.E. Shaw strikes deal forSunEdison(PBR782)’s stake in California solar project. MarketWatch PR link.
Boston Properties(PBR803) completes acquisition of 49.8% interest in 1.2 million sf office campus Colorado Center in Santa Monica, CA, for $511.1 million. $BXP PR link.
Western Digital(PBR194) CFO Olivier Leonetti leaving, Chief Strategy Officer Mark Long to add EVP/CFO roles on 09/01/16. $WDC PR link.
DISH(PBR196) hires Jay Roth as SVP/Chief Marketing Officer, reports to EVP of Marketing Warren Schlichting. $DISH PR link.
The US Dept of Commerce says Total US Exports CYTD through May at $907.1 billion, Total Imports $1,105.7 billion, Total Deficit $200.4 billion. USDOC PR link.
The US Federal Reserve releases FOMCminutes for June meeting, no funds rate change, notes on UK vote on EU membership, inflation, jobs. FRB PR link.
Jobs: The Conference Board June Help Wanted Online rpt says 4.658M #jobs advertised online, -226,700 from May TCB PR link.
Mortgages: Refinancings soar as rates tumble post-#Brexit referendum. MarketWatch PR link.
ISM says June Non-Manufacturing Index at 56.5%, May was 52.9%.(>50% = #economy growing). ISM PR link.
Markit says US June Composite PMI at 51.2, up from May’s 50.9, with Services at 51.4, Manufacturing at 50.4. Markit PR link.
Tuesday, July 5:
Chevron(PBR3) approves next major Tengiz Expansion Project in Kazakhstan, to add 260,000 barrels of oil/day. $CVX PR link.
Comcast(PBR42 $CMCSA) will addNetflix(PBR447 $NFLX) to latest set-top boxes.MarketWatch PR link.
Sysco(PBR61) completes $3.1 billion acquisition of European food services distributorBrakes Group. $SYY PR link.
INTL FCStone(PBR88) completes acquisition of 100,000 clients, $11 billion in assets, 160 employees correspondent securities clearing & independent wealth management units of Stifel Financial(PBR835)’s Sterne Agee subsidiary.$INTL PR link.
Southern Co(PBR155) acquires 43 megawattPassadumkeag Windpark in Penobscot County, Maine. $SO PR link.
Bristol-Myers Squibb(PBR185) acquires Sweden based cancer/rare diseases therapies developer Cormorant Pharmaceuticals for up to $520 million. $BMY PR link.
Computer Sciences(PBR237) completes acquisition of Europe technology services ServiceNow provider Aspediens. $CSC PR link.
KKR(PBR332) to acquire industry specific enterprise software global provider Epicor.$KKR PR link.
KBR(PBR395) completes $570 million acquisition of government services providerWyle. $KBR PR link.
Netflix(PBR447 $NFLX) gets new exclusive US multi-year content licensing deal withCBS(PBR210)/Warner Bros joint venture CW Network for subscription TV services. $CBS PR link.
Jones Lang LaSalle(PBR449) completes acquisition of 500 employee global corporate real estate technology provider BRG. $JLL PR link.
Jones Lang LaSalle(PBR449) acquires Chevy Chase, MD investment sales, equity, & debt advisory firm Sage Capital Advisors. $JLL PR link.
Ventas(PBR671) to acquire life science/medical real estate assets of Blackstone(PBR352 $BX)’s Wexford Science & Technology unit for $1.5 billion cash. $VTR PR link.
A. Schulman(PBR791) enters strategic partnership with France based plastics distributor Snetor Chimie to commercialize masterbatches & additives in Africa. $SHLM PR link.
AMSURG(PBR945) Sheridan division acquires Boca Raton, FL 100+ providers 30 facilities in FL, NJ, MO, & IL Resolute Anesthesia and Pain Solutions. $AMSG PR link.
AMSURG(PBR945) Sheridan division acquires Tampa, FL 43 radiologists/18 locationsAllegiantMD. $AMSG PR link.
Charter Communications(PBR297) hires David Ellen as Sr EVP overseeing several business units. $CHTR PR link.
Bristow Group(PBR919) SVP/Chief Admin Office Hilary Ware leaving for personal reasons, Mary Wersebe is interim. $BRS PR link.
The US Dept of Commerce estimates Total US May Manufacturers New Orders at $456.5 billion, +0.04% from April, -3.16% from May 2015. USDOC PR link.
CoreLogic says that May National Home Prices were +5.9% from May 2015.MarketWatch PR link.
The PurdueU/CME June Ag Barometer at 104, May was 97(100=Unchanged).PurdueU/CME PR link.
Monday, July 4:
***Independence Day***
***US Stock Markets Closed.***
***Remember the Founding Fathers,***
***Celebrate Our Freedoms!***
Friday, July 1:
The PBR1000 Week Ending 07/01/16 US Stock Exchanges Snapshot:
DJIA ends week at 17,949.37, +3.15% from last Friday, +0.11% MTD/QTD, +3.01% YTD, -1.98% from record 18,312.39 on 05/19/15.
NASDAQ ends week at 4,862.57, +3.28% from last Friday, +0.41% MTD/QTD, -2.89% YTD, -6.83% from record 5,218.86 on 07/20/15.
SPX ends week at 2,102.95, +3.22% from last Friday, +0.19% MTD/QTD, +2.89% YTD, -1.31% from record 2,130.82 on 05/21/15.
Honeywell(PBR74) to acquire private supply chain & warehouse automatiion providerIntelligrated for $1.5 billion. $HON PR link.
Danaher(PBR137) completes spinoff of separate public professional instrumentation/industrial technologies providerFortive Corporation. $DHR PR link.
Southern Co(PBR155) completes $12 billion acquisition of AGL Resources(PBR452 $GAS), creates 2nd largest US utility. $SO PR link.
State Street(PBR260) completes up to $485 million acquisition of $100+ billion in assetsGE(PBR9) Asset Management. $STT PR link.
Newell Brands(PBR434) completes $270 million sale of window coverings business toHunter Douglas. $NWL PR link.
Abercrombie & Fitch(PBR595 $ANF) suesGap(PBR179 $GPS) over poaching of CMO.AdAge PR link.
Thor Ind(PBR616) acquires recreational vehicles $1.5 billion/2015 manufacturer Jaycofor $576 million. $THO PR link.
Alliance One Intl(PBR875) provides reasons for not being able to file annual 10-K on a timely basis. $AOI PR link.
American Capital Agency(PBR992) completes $562 million in cash acquisition of its external manager, American Capital Mortgage Management. AGNCP PR link.
The US Dept of Commerce estimates May US Total Construction Spending Annual Rate at $1.143 trillion, -0.79% from April, +2.80% from May 2015. USDOC PR link.
The June 2016 Manufacturing ISM® Report On Business® PMI at 53.2%, +1.9% from May.ISM PR link.
Automotive News reports June Automobile Sales at 1,512,996 units, +2.4% from June 2015. AutoNews PR link.
TrueCar estimates Total US June Automobile Sales at $50.9 billion, +7.4% from June 2015,Average Transaction Price at $32,693.TrueCar PR link.
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