The PBR1000 September 2016 Breaking News Recap

September  2016: 3rd Quarter Sets The Stage For Year End

 

By Larry C. Paxton

The 3rd quarter has come to an end leaving a lot of questions to be resolved in the 4th quarter.

The biggest US event will be the election of the next president. It is an unconventional race and more emotional than usual. We experienced the first presidential debate in late September. In October we will have the opportunity to see a vice-presidential debate followed by the 2 remaining presidential debates, with the election being the climactic event on November 8. Although neither candidate has been president before, it is a very negative campaign, and neither has a positive approval rating,  the question is: Which one will get fired by the American voters?

Here’s a quick September 2016 summary on key activities that relate to The PBR1000:

US Presidential Debates: 1 down, 2 to go, 1 Vice Presidential debate to be held.

Mergers & Acquisitions: 26 deals worth over $1 billion  initiated, closed, or updated. The most prominent is the controversial proposed acquisition of Monsanto(PBR187) by Germany’s Bayer AG for $66 billion.

Reorganizations/Spinoffs: 5

Bankruptcies: 3 indicating they are emerging from their bankruptcy.

CEO Changes: 20 announced.

Jobs: Several retailers announce their plans for holiday/seasonal hiring.

US Economy: Continued modest/moderate growth, stable but fragile, no federal funds rate increase, but will there be one before the end of the year?

International: Deutsche Bank issues, China slowdown, Bank of Japan decision, fluctuating oil prices, OPEC oil production agreement(really?), North Korea missile tests, Middle East conflicts, refugee crisis, climate change, all continue to create uncertainty.

For more details here are The PBR1000 corporate and economic related breaking news items of interest with hotlinks to the sources for September 2016, starting with the last active business day.

Friday, September 30:

The PBR1000 End of September US Stock Exchanges Snapshot:
DJIA ends September at 18,308.15, +0.26% from last Friday, -0.50%% MTD, +2.11% QTD, +5.07% YTD, -1.76% from record 18,636.05 on 08/15/16.
NASDAQ ends September at 5,312.00, +0.12% from last Friday, +1.89% MTD, +9.69% QTD, +6.08% YTD, -0.52% from record 5,339.52 on 09/22/16.
SPX ends September at 2,168.27, +0.17% from last Friday, -0.12% MTD, +3.31 QTD, +6.08% YTD, -1.00% from record 2,190.15 on 08/15/16.

Archer-Daniels-Midland(PBR34) acquires Lake Bluff, IL, 60 employees toll manufacturer of specialty gluten-free and high-protein pastas Caterina Foods. $ADM PR link.

C.H. Robinson(PBR215) completes $225 million cash acquisition of New Zealand/Australia $251 million/FY16 freight forwarding/customs brokerage services provider APC Logistics. $CHRW PR link.

Cognizant Technology(PBR272) conducting internal investigation regarding certain possible improper payments in India; DOJ, SEC notified. $CTSH PR link.

Salesforce(PBR453 $CRM) to press regulators to block Microsoft(PBR31 $MSFT)-LinkedIn(PBR843 $LNKD) deal. MarketWatch PR link.

Lexmark(PBR601) receives US regulatory approval to proceed with $40.50/share, $3.6 billion cash acquisition by Apex Technology/PAG Asia Capital, needs China approval, expects to close in 2016. $LXK PR link.

SemGroup(PBR866) completes acquisition of Rose Rock Midstream(NYSE: RRMS). $SEMG PR link.

Cognizant Technology(PBR272) promotes Raj Mehta to company president, succeeds Gordon Coburn who has resigned. $CTSH PR link.

Berry Plastics(PBR488) promotes Tom Salmon to president/COO; chairman/CEO Jon Rich to retire from CEO role in 02/17. $BERY PR link.

Clean Harbors(PBR629) vice-chairman/president Jim Rutledge has retired. $CLH PR link.

Allison Transmission(PBR865) hires John Coll as SVP-Global Marketing, Sales & Service. $ALSN PR link.

The US Dept of Treasury says 09/29/16 US Total National Debt at $19.533 trillion, +0.12% from August, +3.76% YTD. Treasury PR link.

The US Dept of Commerce estimates US August Total Personal Income Annual Rate at $16.049 trillion, +0.25% from July, +3.87% from August 2015. USDOC PR link.

US Energy Information Adminstration says 09/23/16 Crude Oil Stocks at 502.7 million barrels, -4.4% from 08/26/16, +9.8% from 09/25/15 EIA PR link.

U of Michigan September Consumer Sentiment Index at 91.2, August was 89.8, September 2015 87.2. UMich PR link.

The September MNI Chicago Business Barometer at 54.2, August was 51.5, July 55.8. MNI/ISM Chicago PR link.

Thursday, September 29:

Microsoft(PBR31) creates new AI and Research Group with 5,000 employees, lead by EVP Harry Shum. $MSFT PR link.

Piedmont Natural Gas(PBR993) $6.7 billion acquisition by Duke Energy(PBR114 $DUK) gets NC Utilities Commission approval, to close 10/03/16. $PNY PR link.

Alcoa(PBR115) to separate into two independent public companies, Alcoa & Arconic, on 11/01/16. $AA PR link.

Viacom(PBR212) confirms receipt of letter from 80% voting shareholder National Amusements to explore combination with CBS(PBR210 $CBS). $VIA PR link.

VISA(PBR224) celebrates 1 year anniversary of US chip card launch, lower fraud rates, mobile payments adoption, international acceptance. $V PR link.

Lithia Motors(PBR451) acquires $75 million/year Greiner Ford Lincoln of Casper, WY. Now has 152 stores. $LAD PR link.

Cliffs Natural Resources(PBR518) 2,000 US Steelworkers in Michigan & Minnesota ratify new 3 year labor contract. $CLF PR link.

AECOM(PBR322) names Randall Wotring president, technical/operational services. $ACM PR link.

American Eagle Outfitters(PBR640) hires Bob Madore as EVP/CFO, effective 10/28/16. $AEO PR link.

The US Dept of Commerce 2Q16 3rd Estimate of Real GDP Annual Rate at 1.4%, $18.450 trillion, +0.92% from 1Q16, +2.51% from 2Q15. USDOC PR link.

US Dept of Labor says US Total Unemployment Insurance Claims 4 Week Moving Average at 2,115,250, -1.9% from previous week, -6.1% previous year. USDOL PR link.

FreddieMac(PBR41): 30 Year Fixed Mortgage Rate Average at 3.42%, was 3.43% 08/25/16, 3.86% 09/24/15. $FMCC PR link.

Deutsche Bank crisis threatens to roil global markets. MarketWatch PR link.

OPEC reaches agreement on need to cut oil output. MarketWatch PR link.

Wednesday, September 28:

Medtronic(PBR133) gets FDA approval for world’s first hybrid closed loop insulin delivery system for people with Type 1 diabetes. $MDT PR link.

Abbott Labs(PBR134) gets FDA approval for continuous glucose monitoring system Freestyle Libre Pro. $ABT PR link.

Ashland(PBR407) spinoff Valvoline(NYSE: VVV) closes $22/share IPO, 170 million shares owned by Ashland, 34.5 million by public. $ASH PR link.

Bon-Ton Stores(PBR707) to hire 13,000 associates for the holiday season. $BONT PR link.

Chevron(PBR3) promotes Rhonda Morris to Corporate VP/Human Resources, effective 10/01/16. $CVX PR link.

State Street(PBR260) hires Eric Aboaf as EVP in 12/16, also becomes CFO in 03/17. $STT PR link.

Ferrellgas(PBR801) appoints founder/chairman James Ferrell as interim president/CEO, succeeds Stephen Wambold who has stepped down. $FGP PR link.

Tuesday, September 27:

Wells Fargo(PBR30) launches investigation into retail sales practices, CEO John Stumpf to forfeit $41 million in unvested equity awards. $WFC PR link.

American Express(PBR83) authorizes new repurchase program of up to 150 million shares. $AXP PR link.

Caesars Entertainment(PBR314), Caesars Entertainment Operating Co. announce key economic terms of proposed consensual restructuring plan for CEOC. $CZR PR link.

Boston Scientific(PBR356) to acquire endoscopy devices developer EndoChoice for $8.00/share, $210 million. $BSX PR link.

NCR(PBR383) creates history with its 100,000th ATM installation in India. $NCR PR link.

Boyd Gaming(PBR727) completes $380 million cash acquisition of Aliante Casino Hotel & Spa in Las Vegas. $BYD PR link.

Apollo Global Mgmt(PBR906) completes $1.6 billion acquisition of Outerwall(PBR824 $OUTR). $APO PR link.

Pier 1 Imports(PBR916) adopts short-term shareholder rights protection agreement. $PIR PR link.

Corrections Corp(PBR965) to reduce corporate headquarters staff by 50-55 in restructuring, has new cost reduction program. $CXW PR link.

SeaWorld(PBR1013) unveils major new attractions for 2017, investing $175 million. $SEAS PR link.

Tupperware(PBR746) promotes Tricia Stitzel to president/COO effective 10/01/16, succeeds Simon Hemus who becomes vice chairman. $TUP PR link.

The US Dept of Commerce says 2Q16 US Net International Investment Position at Assets $24.5 trillion, Liabilities $32.5 trillion, Deficit $8.0 trillion. USDOC PR link.

The Richmond Federal Reserve Bank says 5th District September Annualized Manufacturing Activity Index at -8%, Aug -11%, July +10%. September Annualized Services Activity Index at +13%, Aug +0%, July +8%. RichmondFed PR link.

Jobs: Labor-force participation rate decline is mostly structural, Fed’s Fischer says. MarketWatch PR link.

The Conference Board says the US September Consumer Confidence Index at 104.1, August was 101.8(1985=100). TCB PR link.

July S&P CoreLogic Case-Shiller Home Price Index at 183.47(01/2000=100), June 182.25, July 2015 174.66. HPI PR link.

The World Trade Organization says 2016 global trade to grow at slowest pace since financial crisis, +1.7%, revises 2017 forecast. WTO PR link.

Monday, September 26:

General Motors(PBR8 $GM) 3,900 auto workers in Canada ok new 4 year contract. MarketWatch PR link.

Johnson & Johnson(PBR37) Janssen Biotech unit gets FDA approval for STELARA® (ustekinumab) for the treatment of moderately to severely active Crohn’s disease in adults. $JNJ PR link.

Pfizer(PBR56) decides to remain one company with two distinct and complementary businesses. $PFE PR link.

YUM!(PBR217) to make Yum China a separate public company by 10/31/16; expects to repurchase $1.1 billion in shares by 12/31/16. $YUM PR link.

Ball Corp(PBR312) to sell Baltimore specialty tin plant to US based Independent Can Company for $25 million. $BLL PR link.

Green Plains(PBR649) completes $237 million cash purchase in bankruptcy sale of 3 Abengoa Bioenergy ethanol plants. $GPRE PR link.

Cracker Barrel(PBR729) authorizes up to $25 million share repurchase program. $CBRL PR link.

Great Plains Energy(PBR757) $12.2 billion acquisition of Westar Energy(PBR747 $WR) gets approval by both shareholder groups, on track to close in spring 2017. $GXP PR link.

Granite Construction(PBR831) to get 1/3 of $875 million joint venture design-build transit project in Hawaii. $GVA PR link.

PerkinElmer(PBR839) to reorganize into 2 business segments, Diagnostics and Discovery & Analytical Solutions. $PKI PR link.

Chemtura(PBR849) to be acquired by Germany based global specialty chemicals company LANXESS AG for $33.50/share, $2.5 billion cash. $CHMT PR link.

Staples(PBR122) interim CEO Shira Goodman now president/CEO. $SPLS PR link.

Lands’ End(PBR976) CEO Federica Marchionni steps down, EVPs Joseph Boitano & James Gooch are Co-Interim CEOs, search starts. $LE PR link.

The US Dept of HUD estimates US August New Family Home Sales Annual Rate at 609,000 units, -7.6% from July, +20.6% from August 2015. HUD PR link.

Harvard economics professor Ken Rogoff warns ‘hard landing’ in China poses biggest threat to global economy. MarketWatch PR link.

Friday, September 23:

The PBR1000 Week Ending 09/23/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,261.45, +0.76% from last Friday, -0.76% MTD, +1.85% QTD, +4.80% YTD, -2.01% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,305.75, +1.17% from last Friday, +1.77% MTD, +9.56% QTD, +5.96% YTD, -0.63% from record 5,339.52 on 09/22/16.
SPX ends week at 2,164.69, +1.19% from last Friday, -0.29% MTD, +3.14% QTD, +5.91% YTD, -1.16% from record 2,190.15 on 08/15/16.

General Motors(PBR8 $GM) offers buyouts to 400 Cadillac dealers. MarketWatch PR link.

UPS(PBR47) & drone maker CyPhy Works test drone for urgent commercial delivery. $UPS PR link.

Amgen(PBR135) gets FDA approval for biosimilar AMJEVITA™ (Adalimumab-Atto) for treatment of seven inflammatory diseases. $AMGN PR link.

Carnival Corp(PBR184) cruise joint venture in China signs Memorandum of Agreement to order first new cruise ships built in China for the Chinese market. $CCL PR link.

Allergan(PBR219) gets FDA approval of NATRELLE INSPIRA® Cohesive breast implants. $AGN PR link.

Facebook(PBR228 $FB) apologizes for exaggerating video view times. MarketWatch PR link.

Williams Cos(PBR348) & Williams Partners(NYSE: WPZ) complete sale of Canadian businesses to Interline Pipeline(TSX: IPL) for $1.06 billion cash. $WMB PR link.

TransDigm(PBR810) completes acquisition of $75 million/2016 highly engineered valves and actuators manufacturer Young & Franklin, terms not disclosed. $TDG PR link.

hhgregg(PBR864) to hire 500 store associates for its 220 stores in advance of holiday surge. $HGG PR link.

Caterpillar(PBR54) VP/Chief Human Resources Officer Kim Hauer leaving 11/01/16, successor search starts. $CAT PR link.

USG Corp(PBR599) EVP Jennifer Scanlon to be president/CEO on 10/31/16 with retirement of chairman/president/CEO James Metcalf. $USG PR link.

Alliant Energy(PBR634) SVP/CFO Tom Hanson retiring on 12/31/16, Robert Duran to be VP/CFO/Treasurer on 12/01/16. $LNT PR link.

Tesla(PBR651) hires Eric Branderiz as VP/Corporate Controller & Chief Accounting Officer, effective 10/24/16. $TSLA PR link.

Endo Intl(PBR700) promotes Paul Campanelli to president/CEO, succeeds Rajiv De Silva who has stepped down. $ENDP PR link.

The US Federal Reserve proposes to restrict bank involvement with physical commodities. MarketWatch PR link.

Investing Opinion: How to make more money in the stock market: Put away your computer. MarketWatch PR link.

Thursday, September 22:

Lockheed(PBR64) adds $2.0 billion to share repurchase program, balance is now $4.3 billion. $LMT PR link.

Marriott Intl(PBR211) completes $13.3 billion acquisition of Starwood Hotels(PBR417), now has 30 brands, 5,700+ properties. $MAR PR link.

AutoZone(PBR290) authorizes additional $750 million for ongoing share repurchase program. $AZO PR link.

Lennar(PBR340) to acquire Florida community developer/luxury homebuilder WCI Communities(NYSE: WCIC) for $23.50/share, equity value $643 million. $LEN PR link.

Ashland(PBR407) to own 85% of common shares of public spinoff Valvoline, to start trading 09/23/16 on NYSE: VVV. $ASH PR link.

Yahoo!(PBR519) confirms some account information stolen on over 500 million users in late 2014, working with law enforcement. $YHOO PR link.

Tesla(PBR651 $TSLA) files lawsuit to sell cars directly to consumers in Michigan. MarketWatch PR link.

Scripps Networks(PBR732) gets multi-year, multi-platform deal with AT&T(PBR12) to continue to provide its live & on demand channels. $SNI PR link.

Jack in the Box(PBR987) adds $300 million stock buyback program, expires 11/18, $150 million remaining from previous programs. $JACK PR link.

Flowserve(PBR492) president/CEO Mark Blinn to retire upon appointment of successor. $FLS PR link.

The Federal Reserve Board of Chicago says the US August National Activity Index at -0.55, July was +0.24, June +0.09%, slow growth indicated. ChicagoFed PR link.

The National Assn of Realtors says US August Existing Home Sale Median Price was $240,200, -1.6% from July, +5.1% from August 2015. NAR PR link.

The Conference Board says US August Leading Economic Indicator at 124.1(2010=100), moderate growth ahead trend. TCB PR link.

The National Retail Federation says Halloween spending to reach $8.4 billion, highest in survey history. NRF PR link.

Wednesday, September 21:

Target(PBR40) authorizes new $5 billion share repurchase program, to go into effect upon completion of current $10 billion plan. $TGT PR link.

Caterpillar(PBR54) & its dealers to provide $1 billion over 5 years in business, education, & training across Africa. $CAT PR link.

Facebook(PBR228 $FB) founder/CEO Mark Zuckerberg & wife Priscilla Chan pledge $3 billion for eradicating diseases through their for profit philanthropic arm, Chan Zuckerberg Initiative, LLC. MarketWatch PR link.

WABCO(PBR704) & Mobileye NV(NYSE: MBLY) to introduce Advanced Driver Assistance System(ADAS) functionalities & Road Experience Management™ (REM™) technology for commercial vehicles. $WBC PR link.

Viacom(PBR212) cuts dividend; interim president/CEO Tom Dooley announces he is leaving effective 11/15/16. $VIA PR link.

Nordstrom(PBR214) appoints EVP Ken Worzel to president, Nordstrom.com; co-presidents responsibilities strategically shifted. $JWN PR link.

NCR(PBR383) hires Mark Benjamin as president/COO. $NCR PR link.

Kapstone(PBR826) Executive Chairman/CEO Roger Stone leaving CEO role on 01/01/17, president/COO Matt Kaplan to be president/CEO; other management changes announced. $KS PR link.

The US Federal Reserve votes 7-3 to keep the federal funds rate at 1/4-1/2%, sees improvement in the economy, but inflation still <2% goal. FRB PR link.

Healthcare: Abbott Labs(PBR134) quotes Plos One study that says malnutrition associated with disease adds $15.5 billion to direct US medical costs. $ABT PR link.

Indiana manufacturers, facing shortage of 1 million workers, go back to drawing board. MarketWatch PR link.

China says it will resume U.S. beef imports. MarketWatch PR link.

Tuesday, September 20:

Microsoft(PBR31) to complete current $40 billion share repurchase program by 12/31/16, authorizes new $40 billion program. $MSFT PR link.

Macy’s(PBR97) to hire 83,000 seasonal workers, 15,000 for fulfillment centers, hiring day event is 08/30/16. $M PR link.

Marriott Intl(PBR211) $13.3 billion acquisition of Starwood Hotels(PBR417 $HOT) receives antitrust approval in China, deal expected to close on 09/23/16. $MAR PR link.

Allergan(PBR219) to acquire liver therapies developer Tobira Therapeutics(NASDAQ: TBRA) for up to $1.695 billion cash/stock. $AGN PR link.

Allergan(PBR219) has acquired private liver disease therapies biopharma firm Akarna Therapeutics for $50 million. $AGN PR link.

DeVry Education(PBR905) voluntarily lowers its threshold on federal funding to 85%. $DV PR link.

Principal Financial(PBR265) promotes Deanna Strable to EVP, to add CFO title on 02/14/17, to succeed retiring Terry Lillis. $PFG PR link.

LabCorp(PBR413) hires John Ratliff to be CEO of Covance Drug Development on 10/01/16. $LH PR link.

Greenbrier Cos(PBR846) appoints Jim Cowan to new position of president, Greenbrier International. $GBX PR link.

US Dept of HUD estimates US August Private Housing Building Permits Annual Rate at 1.139 million, -0.4% from July, -2.3% from August 2015. HUD PR link.

FreddieMac(PBR41) September Outlook says mortgage originations poised to surge as economy sputters along. $FMCC PR link.

Monday, September 19:

Merck(PBR70 $MRK) being sued in US by Sanofi to defend its patent rights on Lantus® and Lantus® Solostar® insulin products. $SNY PR link.

Avnet(PBR100) to sell its global IT distributor Technology Solutions unit to Tech Data(PBR99 $TECD) for $2.6 billion cash/stock. $AVT PR link.

Community Health System(PBR125) in preliminary exploration of a variety of options and alternatives for its business. $CYH PR link.

Kohl’s(PBR149) hiring 69,000+ seasonal workers for the holidays. $KSS PR link.

Thermo Fisher Scientific(PBR175) completes $107.50/share, $4.2 billion cash acquisition of high performance electron microscopy provider FEI Company(NASDAQ: $FEIC). $TMO PR link.

SunTrust Banks(PBR307) commemorates its 125th anniversary. $STI PR link.

KBR(PBR395) completes $266 million acquisition of the Honeywell(PBR74 $HON) 3,550 employee $600 million/yr government services provider HTSI. $KBR PR link.

ON Semiconductor(PBR656) completes $20/share, $2.4 billion cash acquisition of Fairchild Semiconductor(PBR1000 $FCS). $ON PR link.

TerraForm Power exploring strategic alternatives including merger/acquisition, has confidentiality agreement with SunEdison(PBR782 $SUNEQ). $TERP PR link.

Pier 1 Imports(PBR916) gets SEC 13D filing by Alden Global disclosing it has a 9.5% stake in the company. $PIR PR link.

GoPro(PBR1010) intoduces new line of HERO5 cameras and its Karma drone. $GPRO PR link.

Intel(PBR51) hires Bob Swan as EVP/CFO, effective 10/10/16, succeeds Stacy Smith who is taking on other company roles. $INTC PR link.

Chipotle(PBR561) hires Jim Slater as Managing Director-Europe. $CMG PR link.

PolyOne(PBR586) promotes James Sloan to VP/Treasurer, succeeds Scott Leffler who has left for a CFO position. $POL PR link.

Wabash Natl(PBR917) promotes Brent Yeagy to president/COO, effective 10/01/16. $WNC PR link.

The National Assn of Homebuilders says September US National Housing Market Index at 65, August was 59, September 2015 61. NAHB PR link.

Friday, September 16:

The PBR1000 Week Ending 09/16/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,123.80, +0.21% from last Friday, -1.51% MTD, +1.08% QTD, +4.01% YTD, -2.75% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,244.57, +2.31% from last Friday, +0.60% MTD, +8.30% QTD, +4.74% YTD, -0.59% from record 5,275.91 on 09/06/16.
SPX ends week at 2,139.16, +0.53% from last Friday, -1.46% MTD, +1.92% QTD, +4.66% YTD, -2.33% from record 2,190.15 on 08/15/16.

Ford(PBR10) to accelerate autonomous vehicle research by moving researchers to new robotics lab at U of Michigan in collaborative effort. $F PR link.

AIG(PBR46) to sell stake in Ascot Lloyd’s Syndicate to Canadian Pension Plan for $1.1 billion, will net $240 million. $AIG PR link.

21st Century Fox(PBR91 $FOX) sues Netflix(PBR447 $NFLX) for poaching employees. MarketWatch PR link.

Abbott Labs(PBR134) to sell its Abbott Medical Optics vision care unit to Johnson & Johnson(PBR37 $JNJ)) for $4.325 billion cash. $ABT PR link.

Range Resources(PBR726) completes $15.75/share, $4.4 billion cash acquisition of N. Louisiana natural gas/oil company Memorial Resource Development Corp(ASDAQ: MRD). $RRC PR link.

Twitter(PBR790 $TWTR) reaches more than 2 million people during first broadcast of NFL’s Thursday Night Football. MarketWatch PR link.

Mattress Firm(PBR932) $64/share, $3.8 billion cash acquistion by S Africa based global integrated retailer Steinhoff is completed. $MFRM PR link.

Molina Healthcare(PBR284) hires Britt Travis as new VP/Medicare Sales. $MOH PR link.

The US Federal Reserve estimates US 2Q16 Households Networth at $89.063 trillion, +1.22% from 1Q16, +3.08% from 2Q15. FRB PR link.

The US Dept of Labor estimates US August Consumer Price Index for All Items was +0.2% from July, +1.1% over last 12 months. USDOL PR link.

The US Dept of Labor estimates US August Current Average Earnings/Hour at $25.73, +0.12% from July, +2.4% from August 2015. USDOL PR link.

The U of Michigan Preliminary US September Index of Consumer Sentiment at 89.8, August Final was 89.8, September 2015 was 87.2. UMich PR link.

Thursday, September 15:

Amazon(PBR29) announces newest & biggest 253 MW Wind Farm West Texas, to open late 2017, power almost 90,000 homes. $AMZN PR link.

Medtronic(PBR133) hires Mark Ploof as SVP/Global Operations & Business Services, succeeds retiring Gary Ellis. $MDT PR link.

Salesforce(PBR453) hires Tony Prophet to new position of Chief Equality Officer. $CRM PR link.

The US Dept of Labor says August US Producer Price Index unchanged from July, also unchanged for last 12 months. USDOL PR link.

The US Dept of Commerce estimates US Total August Mfr/Retail/Wholesale Sales at $1.304 trillion, -0.2% from July, -0.8% from August 2015. USDOC PR link.

The US Dept of Commerce estimates US August Total Retail Sales at $456.3 billion, -0.3% from July, +1.9% from August 2015. USDOC PR link.

The US Federal Reserve estimates US August Total Industry Capacity at 75.5%, July was 75.9%, +0.4% from Aug 2015 FRB PR link.

The Philadephia Federal Reserve says the September General Activity Indicator is at 12.8, August was 2.0, July -2.9. PhillyFed PR link.

The New York Federal Reserve September Empire State Manufacturing Survey General Business Conditions Index at -1.99, August was -4.21, July +0.55. NYFed PR link.

Wednesday, September 14:

Ford(PBR10) to invest $4.5 billion to introduce 13 new electrified vehicles by 2020, cost competitive autonomous ride-sharing vehicles by 2021. $F PR link.

UPS(PBR47) to hire about 95,000 full/part-time seasonal employees for the holiday season. $UPS PR link.

American Electric Power(PBR174) to sell 4 power plants totaling 5,200 MW to Blackstone(PBR352 $BX)/ArcLight joint venture for $2.17 billion. $AEP PR link.

Monsanto(PBR187) agrees to be acquired by Germany’s Bayer AG for $128.00/share, $66 billion cash. $MON PR link.

Allergan(PBR219) to acquire dermatologic conditions therapies developer Vitae Pharmaceuticals for $21.00/share, $639 million cash. $AGN PR link.

RR Donnelley(PBR243) to spinoff LSC Communications & Donnelley Financial Solutions on 10/01/16, then do 1:3 reverse stock split. $RRD PR link.

Chipotle(PBR561) hiring 5,000 people through second-annual national career day on 09/28/16. $CMG PR link.

Skechers USA(PBR808) launches joint venture in Israel. $SKX PR link.

Mattress Firm(PBR932) says Steinhoff has completed tender share acquisition offer, transaction to close soon. $MFRM PR link.

The US Dept of Labor estimates US August Imports Price Index -0.2% from July, Y-to-Y -2.2%, Exports -0.8%, Y-to-Y -2.4%. USDOL PR link.

Tuesday, September 13:

Sprint(PBR86) says pre-orders of Apple(PBR5 $AAPL) iPhone7 & iPhone7 Plus up 375% in first 3 days over last year. $S PR link.

T-Mobile US(PBR95) iPhone7 & iPhone7 Plus by Apple(PBR5 $AAPL) 4 day pre-orders up 4x from next most popular iPhone. $TMUS PR link.

Carlisle Cos(PBR650) adds 4.1 million shares to repurchase program, balance now 5.0 million shares. $CSL PR link.

Intl Flavors & Fragrances(PBR666) to acquire Philadelphia based $85 million/yr flavors developer David Michael. $IFF PR link.

Arch Coal(PBR691) plan of reorganization confirmed by court, expects to emerge from Chapter 11 bankruptcy in early 10/16. $ACIIQ PR link.

Scientific Games(PBR937) wins new 1,460 POS terminals deal with Germany’s $343 million/FY15 SACHSENLOTTO. $SGMS PR link.

JetBlue(PBR429) EVP/CFO Mark Powers to retire on 11/01/16, SVP/Treasurer Jim Leddy to serve as interim CFO. $JBLU PR link.

Tiffany & Co(PBR551) hires Mark Erceg as EVP/CFO, effective 10/18/16. $TIF PR link.

CIT Group(PBR608) hires Stuart Alderoty as EVP/General Counsel & Corporate Secretary. $CIT PR link.

Ruby Tuesday(PBR1041) president/CEO James Buettgen resigns, director F Lane Cardwell, Jr, appointed interim president/CEO; Sue Briley appointed CFO. $RT PR link.

The Atlanta Federal Bank president Dennis Lockhart to step down 02/28/17 after 10 yrs, successor search starts. AtlFed PR link.

The US Dept of Treasury says US August Receipts were $231.3 billion, Outlays $338.4 billion, Deficit $107.1 billion, FY YTD Deficit $620.8 billion. Treasury PR link.

Manpower(PBR132) says Net Employment Outlook of 18% last seen in Q4 2015, strongest since 2007. $MAN PR link.

CoreLogic estimates US July Homes In Serious Delinquency at 1,150,000, -17.3% from July 2015, 449,000 foreclosures completed in last 12 months. CoreLogic PR link.

Monday, September 12:

HP Inc(PBR19) to acquire Samsung Electronics’ printer business for $1.05 billion, plans to reinvent $55 billion printer business. $HPQ PR link.

Alphabet(PBR44 $GOOG)’s Verily Life Sciences unit & France based Sanofi form joint venture OnDue to develop diabetes management platform. Sanofi PR link.

Freeport-McMoRan(PBR128) selling its Deepwater Gulf of Mexico properties to Anadarko Petroleum(PBR154 $APC) for $2.0 billion cash. $FCX PR link.

Sanmina(PBR401) authorizes $150 million stock repurchase program. $SANM PR link.

Perrigo(PBR565 $PRGO) is sent letter by 4.6% shareholder Starboard Value regarding lack of value growth since rejection of Mylan(PBR346) offer. SV PR link.

Albemarle(PBR792) signs agreement for exclusive exploration and acquisition rights to lithium resource in Argentina. $ALB PR link.

E*Trade(PBR930) completes $725 million acquisition of Aperture New Holdings, parent of $104 million/2015 OptionsHouse; Karl Roessner appointed E*Trade CEO. $ETFC PR link.

Frontier Communications(PBR501) hires R Perley McBride to be EVP/CFO. $FTR PR link.

Amkor Technology(PBR659) promotes Megan Faust to VP/CFO, succeeds leaving Joanne Solomon. $AMKR PR link.

Weight Watchers(PBR988) CEO James Chambers resigning, effective 09/30/16, interim office of CEO formed, new CEO search starts. $WTW PR link.

Sunday, September 11:
*** 9/11 15th Anniversay.
*** Remembering Our Lost Ones,
*** Appreciating Our 1st Responders.

Friday, September 9:

The PBR1000 Week Ending 09/09/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,085.45, -2.20% from last Friday, -1.71% MTD, +0.87% QTD, +3.79% YTD, -2.95% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,125.91, -2.36% from last Friday, -1.67% MTD, +5.85% QTD, +2.37% YTD, -2.84% from record 5,275.91 on 09/06/16.
SPX ends week at 2,127.81, -2.39% from last Friday, -1.99% MTD, +1.38% QTD, +4.10% YTD, -2.85% from record 2,190.15 on 08/15/16.

General Motors(PBR8) recalling 3.64 million 2014-17 model year vehicles for potential front airbag non-deployment. $GM PR link.

Ford(PBR10) partnering with global cities on new transportation; Chariot Shuttle to be acquired, Ford GoBike to launch in San Francisco. $F PR link.

Air Products(PBR267) approves separation of Versum Materials as independent public company, to start regular trading on NYSE: VSM on 10/03/16. $APD PR link.

MGM Resorts(PBR273) Theater at MGM National Harbor, Maryland, partners exclusively with Live Nation(PBR366 $LYV) for booking/ticketing services. $MGM PR link.

Scientific Games(PBR937) new lottery gaming system goes live in Arizona per 5 year contract won in 07/15. $SGMS PR link.

SandRidge Energy(PBR975) to emerge from Chapter 11 bankruptcy within 30 days per court approval of reorganization. $SDOCQ PR link.

Lumber Liquidators(PBR1061) hires Marty Agard as CFO, Chris Thomsen as SVP/CIO. $LL PR link.

The US Dept of Commerce estimates US July Total Wholesale Sales at $441.9 billion, -0.45% from June, -1.01% from July 2015. Commerce PR link.

Thursday, September 8:

Ford(PBR10) surpasses 1 million vehicle sales in Asia Pacific YTD after record setting August. $F PR link.

Walgreens Boots Alliance(PBR36) anticipates divesting 500-1,000 stores to acquire Rite Aid(PBR105 $RAD) per discussions with FTC, expects to close $17.2 billion cash deal in 2H2016. $WBA PR link.

Alphabet(PBR44)’s Google to acquire API developer Apigee(NASDAQ: APIC) for $17.40/share, $625 million. $APIC PR link.

Enterprise Products(PBR59) withdraws indication of interest in acquisition of Williams Cos(PBR348 $WMB). $EPD PR link.

AMSURG(PBR945) Sheridan division acquires 2 S California anesthesiology practices with 27 physicians covering 6 independent facilities. $AMSG PR link.

A-Mark Precious Metals(PBR419) EVP/COO Thor Gjerdrum now president with 3 year contract, David Madge now Chief Marketing Officer. $AMRK PR link.

PulteGroup(PBR428) promotes president Ryan Marshall to CEO, succeeds retiring Richard Dugas, Jr, who remains executive chairman. $PHM PR link.

Swift Transportation(PBR547) founder/CEO Jerry Moyes to retire 12/31/16, president/COO Richard Stocking named president/CEO. $SWFT PR link.

The US Dept of Labor says US June Total Employee Average Compensation/Hour Costs were $23.35 for wages/salaries, $10.70 for benefits, total $34.05. USDOL PR link.

Wednesday, September 7:

EMC Corp(PBR111) $59 billion acquisition by Dell is completed, creates largest privately controlled tech company. $EMC PR link.

Alcoa(PBR115) announces boards of directors for future Arconic and Alcoa Corp. $AA PR link.

Kohl’s(PBR149) to open 937,000 sf ecommerce fulfillment center in Indianapolis area in 2017 with 300 fulltime & 600 parttime jobs. $KSS PR link.

Apache Corp(PBR208) says its Alpine High acreage in southern Delaware Basin has 75 trillion cubic feet of rich gas & 3 billion barrels of oil. $APA PR link.

Caesars Entertainment(PBR314) to debut Gamblit Gaming skill-based casino games in some CA and NV properties in October. $CZR PR link.

Williams Cos(PBR348) to consolidate from 5 to 3 operating units by early 2017. $WMB PR link.

LabCorp(PBR413) completes $2.40/share, $302 million cash acquisition of women’s health & reproductive genetics provider Sequenom(NASDAQ: SQNM). $LH PR link.

S&P Global(PBR477) completes $1.1 billion sales of J.D. Power unit to investments firm XIO Group. $SPGI PR link.

S&P Global(PBR477) to sell Equity and Fund Research unit to CFRA, terms not disclosed. $SPGI PR link.

Liberty Media(PBR534) to acquire Formula One racing, $8 billion enterprise value. $LMCA PR link.

A.O. Smith(PBR815) to do 2:1 stock split on 09/21/16. $AOS PR link.

Revlon(PBR900) completes $14/share, $870 million acquisition of global beauty products provider Elizabeth Arden(NASDAQ: $RDEN). $REV PR link.

Cedar Fair(PBR977) reports 20.5 million visitors from 2015 Labor Day weekend through 2016 Labor Day weekend, average per guest capital spending at $46.71. $FUN PR link.

Activision Blizzard(PBR540) hires Pete Vlastelica as president/CEO of its Major League Gaming Division. $ATVI PR link.

Pier 1 Imports(PBR916) CEO Alex Smith to leave by mutual agreement effective 12/31/16, new CEO search starts. $PIR PR link.

The US Federal Reserve BeigeBook for July through late August notes modest growth pace, moderate payroll growth. FRB PR link.

The US Dept of Labor estimates US Total US July Job Openings at 5.871 million, +4.06% from June, +1.42% from July 2015. USDOL PR link.

Tuesday, September 6:

GE(PBR9) to acquire additive manufacturing(3D printing) companies Arcam(Sweden) & SLM(Germany) for $1.4 billion. $GE PR link.

Intel(PBR51) to acquire computer vision & machine intelligence developer Movidius, terms not disclosed. $INTC PR link.

Tesoro(PBR71) to acquire renewable energy biofuels technology developer Virent, terms not disclosed. $TSO PR link.

Danaher(PBR137) to acquire fully automated GeneXpert® systems developer Cepheid(NASDAQ:CPHD) for $53.00/share, about $4 billion cash. $DHR PR link.

Icahn Enterprises(PBR147 $IEP) to acquire outstanding shares it does not own in Federal-Mogul(NASDAQ: $FDML for $9.25/share cash. $FDML PR link.

EOG Resources(PBR159) to acquire private 1.6 million net acres Yates Petroleum in $2.5 billion deal. $EOG PR link.

Carnival Corp(PBR184) orders 3 new cruise ships, first to powered by liquified natural gas. $CCL PR link.

Monsanto(PBR187) confirms receipt of Germany’s Bayer AG new $127.60/share($65 billion) cash bid. $MON PR link.

Spectra Energy(PBR422) to be merged into Enbridge Inc(NYSE: ENB) in $28 billion deal, creates largest energy infrastructure company in N America. $SE PR link.

Chipotle(PBR561) SEC filing says Pershing Square investment group now holds 9.9% of common stock. $CMG PR link.

Arch Coal(PBR691) announces proposed board of directors for when it emerges from bankruptcy. $ACIIQ PR link.

ITT Educational(PBR1078) to cease operations at all ITT Technical Institutes following federal actions, affects 35,000 students. $ESI PR link.

Avnet(PBR100) interim CEO Bill Amelio now officially CEO. $AVT PR link.

Hormel Foods(PBR293) chairman/CEO Jeff Ettinger to retire from CEO role on 10/30/16, president/COO James Snee to become CEO on 10/31/16. $HRL PR link.

Lifepoint Hospital(PBR463) promotes Michael Coggin to CFO, effective 09/30/16, succeeds leaving Leif Murphy. $LPNT PR link.

TeamHealth(PBR498) hires Leif Murphy as president/CEO, succeeds retiring Mike Snow. $TMH PR link.

ISM US August Non-Manufacturing Index at 51.4%, July was 55.5%. ISM PR link.

PurdueU/CME Group US Aug Ag Barometer Future Expectations Index at 102, July was 121, June 107 Purdue/CME PR link.

Monday, September 5:

***US Stock Markets Closed.
***Federal Holiday: Labor Day.

Friday, September 2:

The PBR1000 Week Ending 09/02/16 US Stock Exchanges Snapshot:
DJIA ends week at 18,491.96, +0.50% from last Friday, +0.49% MTD, +3.13% QTD, +6.12% YTD, -0.77% from record 18,636.05 on 08/15/16.
NASDAQ ends week at 5,249.90, +0.59% from last Friday, +0.70% MTD, +8.41% QTD, +4.84% YTD, -0.23% from record 5,262.02 on 08/15/15.
SPX ends week at 2,179.98, +0.50% from last Friday, +0.42% MTD, +3.86% QTD, +6.66% YTD, -0.46% from record 2,190.15 on 08/15/16.

Ireland appeals E.U. ruling to collect billions in taxes from Apple(PBR5 $AAPL). MarketWatch PR link.

Caterpillar(PBR54) contemplates allocation of production from Gosselies, Belgium, to other manufacturing facilities. $CAT PR link.

New PG&E(PBR172) fleet inspects one million homes and businesses using super-sensitive gas-detecting technology. $PCG PR link.

YUM!(PBR217) gets Primavera Capital & Ant Financial to invest $460 million in YUM! China public spinoff on 11/01/16. $YUM PR link.

ON Semiconductor(PBR656) extends $20/share, $2.4 billion cash tender offer for Fairchild Semiconductor(PBR1000 $FCS) to 09/16/16, currently has commitment of 74.0% of shares. $ON PR link.

Republic Airways(PBR1015) files motion with US Bankruptcy Court to approve comprehensive agreement on a long-term relationship with American Airlines(PBR69 $AAL). $RJETQ PR link.

Ferro Corp(PBR1054) promotes Ben Schlater to VP/CFO, succeeds leaving Jeffrey Rutherford; 3 other management changes made. $FOE PR link.

The US Dept of Labor says US August Employed at 151,614,000, +97,000 from July, +2,578,000 from Aug 2015, Unemployment Rate stays at 4.9%. USDOL PR link.

The US Dept of Commerce estimates US Total August YTD Exports at $1.271 trillion, Imports $1.561 trillion, Deficit $289 billion. USDOC PR link.

The US Dept of Commerce estimates US July Manufacturers Total New Orders at $454.7 billion, +1.86% from June, -3.54% from July 2015. USDOC PR link.

Thursday, September 1:

Walmart(PBR1 $WMT) eliminating 7,000 back-office store positions. MarketWatch PR link.

Proctor & Gamble(PBR33) starts spinoff of its P&G Specialty Beauty Brands, which will merge with Coty(PBR524 $COTY). $PG PR link.

JCPenney(PBR234) debuts first exclusive Fall capsule collection by plus size designer Ashley Nell Tipton. $JCP PR link.

MGM Resorts(PBR273) completes acquisition of 56% ownership stake in MGM China. $MGM PR link.

Calpine Corp(PBR330) to sell 375 MW natural gas fired Mankato Power Plant to Southern Co(PBR155 $SO) subsidiary for $395.5 million. $CPN PR link.

KKR(PBR332) completes acquisition of industry specific enterprise software global provider Epicor. $KKR PR link.

Sonoco Products(PBR480) to sell its 7 facilities with 850 employees rigid plastics blow molding operations to Amcor for $280 million. $SON PR link.

Ventas(PB671) completes $1.5 billion acquisition of Blackstone(PBR352 $BX)’s Wexford Science & Technology unit. $VTR PR link.

Synopsys(PBR879) replenishes stock repurchase authorization to $500 million. $SNPS PR link.

Verizon(PBR15) EVP/CFO Fran Shammo to step down on 11/01/16, SVP/CFO-Operations Matt Ellis to be successor. $VZ PR link.

CarMax(PBR202) president Bill Nash elected CEO, succeeds now non-executive chairman Tom Folliard. $KMX PR link.

Liberty Interactive(PBR263) promotes Mark Carleton to CFO, Chris Shean to Senior Advisor, Albert Rosenthaler to Chief Corporate Development Officer. $QVCA PR link.

Dean Foods(PBR289) EVP/COO Ralph Scozzafava to succeed CEO Gregg Tanner on 01/01/17. $DF PR link.

Fresh Del Monte(PBR528) president/COO Hani El-Naffy to transition out by 02/28/17, to remain member of the board. $FDP PR link.

Liberty Media(PBR534) promotes Mark Carleton to CFO, Chris Shean to Senior Advisor, Albert Rosenthaler to Chief Corporate Development Officer. $LMCA PR link.

Cooper Tire & Rubber(PBR625) new CEO is Bradley Hughes, succeeds retiring Roy Armes. $CTB PR link.

Tower Intl(PBR874) CFO James Gouin promoted to president, to become CEO on 01/01/17, to succeed retiring Mark Malcolm. $TOWR PR link.

Cooper Cos(PBR950) CFO Gregory Matz to retire 10/31/16, Albert White named successor. $COO PR link.

Cincinnati Bell(PBR1027) promotes Leigh Fox to president/COO, Andrew Kaiser to CFO. $CBB PR link.

The US Dept of Commerce estimates US July Total Construction Spending Annual Rate at $1.153 trillion, -0.03% from June, +3.45% from July 2015. USDOC PR link.

FreddieMac says 09/01/16 30 Year Fixed Mortgage Rates averaged 3.46% w/0.5 points, week ago 3.43%, year ago 3.89%. $FMCC PR link.

Manufacturing ISM Report on Business US August PMI Index at 49.4%, July was 52.6%, Aug 2015 51.0%. ISM PR link.

TrueCar estimates Total US August New Vehicle Sales at $50 billion, -1.7% from Aug 2015, average price $32,339, +0.4% from Aug 2015. TrueCar PR link.

Automotive News says Total US August New Auto Unit Sales at 1.511 million, -0.65% from July, -3.54% from Aug 2015. AutoNews PR link.

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(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 include C-level executives, entrepreneurs,  sales/marketing/advertising professionals, investors/investment advisors, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Subscribe page.)

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