The PBR1000 September 2020 Breaking News Recap

The PBR1000 for September: Continuing to Rebuild

The September 2020 breaking news items of interest for The PBR1000 follow with the most current date first.

***Wednesday, September 30

The PBRMarketTools US Stock Exchanges Recap for September 2020 ending 09/30/20:

DJIA ends September at 27,781.70, +2.24% from last Friday, -2.28% MTD, +7.63% QTD, -2.65% YTD, -5.99% from record 29,551.42 set 02/12/20.

NASDAQ ends September at 11,167.51, +2.33% from last Friday, -5.16% MTD, +11.02% QTD, +24.46% YTD, -7.37% from record 12,056.44 set 09/02/20.

SPX ends September at 3,363.00, +1.96% from last Friday, -3.92% MTD, +8.47% QTD, +4.09% YTD, -6.08% from record 3,580.84 set 09/02/20.

The September 2020 News Summary: The Coronavirus Pandemic continued to be the main theme throughout September, but there were several other news items that had their turns at dominating the news for a day or so. The Coronavirus Pandemic tallies as of today at 12:33PM Eastern US by the John Hopkins University CSSE unit is now 33,799,264 confirmed cases globally with 1,010,381 deaths, an increase of 162,351, a 6% downward trend from August. For the US it’s 7,219,635 confirmed cases and 206,665 deaths, an increase of 23,266, a 24% downward trend from August. There are now vaccine candidates in Phase 3 testing, results should be known within a few weeks. If it looks good then it appears that a vaccine should be available by the end of 2020/early 2021, production and logistics plans are being developed for quick deployment. Rapid tests are also coming to market, with concerns about false positive/negative results being at higher percentages than would be liked. Schools and universities opened up in a variety of formats with mixed results and opinions. Several major college conferences reversed course and decided to play football, basketball and other fall sports, with shortened seasons, frequent testing of athletes and staff, to empty stadiums, and with different playoff methods. At the professional level football is being played, as is basketball, with interuptions from positive COVID-19 tests, and the Tampa Bay Lightning won hockey’s Stanley Cup Championship in a shortened season. In international trade and news the US and China continue to have stalled trade negotiations, with some of that being the controversy over popular China based app TikTok, which apparently can capture a lot of individual information. A deal in which Oracle and Walmart acquire, or have controlling interest in the US version has the blessing of the US, but not necessarily China, and needs to be resolved by 11/12/20. A major and unexpected international agreement brokered by the US was the ‘Abraham’ peace accords signed by Israel, the United Arab Emirates and Bahrain. The US economy is recovering, maybe at a slower pace, but is considered out of recession. Jobs results are a little mixed, several major corporations and industries, especially travel, are announcing major layoffs. Manufacturing seems to be increasing. Retail is starting to hire for the upcoming holiday season. Home sales and new construction are up. The Federal Reserve modified its 2% inflation guidelines which would keep federal short term interest rates very low for a few years. At the end of the month a new stimulus package appeared to be eminent, but apparently became stalled. Wildfires raged in California, Oregon, and Washington, displacing hundreds of thousands of people and destroying homes and businesses. The Gulf Coast was hit by Hurricane Sally and caused widespread damage as well. In US government news revered Supreme Court Associate Justice Ruth Bader Ginsburg passed away at 87, considered to be a liberal member, and most noted for being a strong crusader for women’s rights. In a controversial move President Trump quickly nominated conservative and highly regarded jurist Amy Coney Barrett as the successor, which would clearly define SCOTUS as conservative. Senate hearings on her confirmation start 10/12/20 and it appears that she could be approved and take the vacant seat by the 11/03/20 election day, which would be a record for shortest time to get through the process. The US 2020 Presidential Election Race experienced a very contentious and chaotic first debate between President Donald Trump and former Vice-President Joe Biden. Next is a Vice President debate followed by two more presidential debate encounters. The major US stock exchanges were volatile in September, impacted significantly by a technology sector selloff. However, by the end of the month both the NASDAQ and S&P500 were ahead for the year with the Dow Jones retreating back into negative territory. The Stock Market Bull and The Stock Market Bear both had their moments in the day-to-day gore and slash battles, but in the end The Stock Market Bear took the 9th month victory by a wide margin, but still lagging year-to-date. There is a lot going on, many moving parts, many varying expert opinions, it’s anyone’s guess about what will happen. Enjoy the rollercoaster ride that appears certain for October.

The September 2020 tally YTD is:
The Stock Market Bull: 5 months
The Stock Market Bear: 3 months
Mixed Results: 1 month

Walmart(PBR1 $WMT) unveils a new look and feel focusing on a digitally enabled shopping experience, includes bolder signage, app interface to navigate shopping, contactless checkout & payment, being installed in 200 stores by end of 01/21, 1,000 by end of 01/22. PR link.

Alphabet(PBR11 $GOOG)’s Google unit Launch Night In event announces new Google TV and Chromecast, latest smart speaker Nest Audio, new smartphones Pixel 4a (5G) and Pixel 5. PR link.

Microsoft(PBR17 $MSFT) and DataDog(NASDAQ: $DDOG) form strategic partnership, DataDog will now be available in the Azure console as a native application to monitor the health and performance of applications in cloud based Azure. DataDog PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen Pharmaceuticals unit gets US FDA approval for SIMPONI ARIA® (golimumab) for pediatric use in both active polyarticular juvenile idiopathic arthritis (pJIA) and active psoriatic arthritis (PsA). PR link.

Allstate(PBR71 $ALL) transformation plan will impact approximately 3,800 employees primarily in claims, sales, service and support functions, restructuring charge expected to be around $290 million. PR link.

Dow(PBR75 $DOW) is implementing its 6% workforce cost reduction plan, will result in a charge of $500-600 million, selling its rail infrastructure business for $310 million 3 months ahead of original schedule. PR link.

ConocoPhillips(PBR86 $COP) to resume share repurchases of $1 billion during 4Q20 under its existing authorization. PR link.

Alaska Air(PBR348 $ALK) to offer rapid COVID-19 testing for Hawaii-bound guests in partnership with Carbon Health, starts in the Seattle area, allows customers to avoid 14 day quarantee for testing negative within 72 hours of travel. PR link.

Caesars Entertainment(PBR351 $CZR) to acquire UK based global sports betting and online gaming company with 16,000 employees William Hill PLC(LSE: WMH) for around $3.7 billion, to close in 2H21. PR link.

Genworth Financial(PBR375 $GNW) $5.43/share, $2.7 billion cash acquisition by China Oceanwide extended from 09/30/20 to 11/30/20, Oceanwide in final stages of getting the financing it needs to close the transaction. PR link.

Elanco Animal Health(PBR733 $ELAN) restructuring after acquisition of Bayer Animal Health two months ago, intends to eliminate more than 900 positions across nearly 40 countries, primarily in Sales and Marketing, but also R&D, Manufacturing and Quality, and back office support, will begin to reduce duplication, drive efficiency and optimize the company’s footprint across geographies, particularly Basel, Switzerland. PR link.

S&P Global(PBR437 $SPGI) Non-Executive Chairman Ed Haldeman, Jr, to retire, has been Non-Executive Chairman since 2015, Dick Thornburgh named as successor, effective 10/01/20. PR link.

The US Dept of Commerce/BEA says the 2Q20-3rd Estimate of US Gross Domestic Product Annual Rate is revised from -31.7% to -31.4%, 1Q20 was at -5.0%, 4Q19 +2.2%, 2Q19 +2.0%. USDOC PR link.

The US Dept of the Treasury says the 09/28/20 US National Debt-Public is at $20.904 trillion, Intragovernmental $5.887 trillion, Total US Debt $26.791 trillion, on 08/31/20 it was $26.703 trillion, 07/30/20 $26.525 trillion, 09/30/19 $22.719 trillion. USTreasury PR link.

ADP says the Preliminary September 2020 US Change in Non-Farm Private Employment-Small Businesses is at +192,000, Mid-Sized +259,000, Large +297,000, Total +749,000, August 2020 was at +481,000, July 2020 +218,000, September 2019
164,000. “In September, the majority of sectors and company sizes experienced gains with trade, transportation and utilities; and manufacturing leading the way. However, small businesses continued to demonstrate slower growth.” More details at the ADP link. ADP PR link.

The US Energy Information Administration says the 09/25/20 US Crude Oil Inventories(Millions of Barrels) is at 492.4, 08/21/20 was at 507.8, 07/24/20 526.0, 09/20/19 419.5. USEIA PR link.

The US Federal Reserve Bank of Chicago says the Preliminary August 2020 US 7th District Midwest Economy Index is at +1.59, July 2020 was at -3.58, June 2020 -9.45, August 2019 -0.42. “Index suggests Midwest growth above trend through August.” ChiFed PR link.

Market News International says the September 2020 Chicago Business Barometer(>50=gaining) is at 62.4, the highest since December 2018, August 2020 was at 51.2, July 2020 51.9, September 2019 47.1. MNI PR link.

The American Automobile Assn says the 09/30/20 US Average Price for a Gallon of Regular Gas is at $2.188, 08/31/20 was at $2.233, 07/31/20 $2.189, 09/30/19 $2.654. AAA PR link.

***Tuesday, September 29

JPMorgan Chase(PBR24 $JPM) agrees to pay the US SEC, US Dept of Justice, and US Commodities Futures Commission fines totalling $955 million for fraudulently engaging in manipulative trading of US Treasury securities and for manipulative trading in the precious metals and US Treasuries futures and cash markets in 2015-2016. USSEC PR link.

Target(PBR36 $TGT) announces the return of Target Deal Days on Oct. 13 and 14, will feature nearly 1 million more deals than last year, Black Friday pricing all November long and an extended Price Match Guarantee. PR link.

Walt Disney(PBR49 $DIS) lays off 28,000 workers, 67% part-timers, across its parks, experiences and consumer products division, is in response to effects of closures and partial openings of parks due to the Coronavirus pandemic. PR link.

American Airlines(PBR68 $AAL) to begin offering preflight COVID-19 testing for customers traveling to international destinations, starting with Miami to Jamaica and to the Bahamas and Caribbean Community starting in 10/20, and from Dallas/Ft Worth to Hawaii on 10/15/20. PR link.

Ameriprise(PBR238 $AMP) authorizes an additional $2.5 billion for its share repurchase program, has around $500 million available from previous authorization. PR link.

Vistra Energy(PBR258 $VST) to break ground on nearly 1,000 megawatts of renewables and storage; announces planned retirement of entire Midwest coal fleet. PR link.

Bed Bath & Beyond(PBR276 $BBBY) launches Same Day Delivery at Bed Bath & Beyond and buybuy BABY ahead of the 2020 holiday season. PR link.

NVIDIA(PBR285 $NVDA) and VMWare enter into a broad partnership to deliver both an end-to-end enterprise platform for AI and a new architecture for data center, cloud and edge that uses NVIDIA® DPUs (data processing units) to support existing and next-generation applications. PR link.

Molson Coors(PBR293 $TAP) enters into an exclusive agreement with Coca-Cola(PBR83) to manufacture, market, and distribute Topo Chico Hard Seltzer in the US. PR link.

Peabody Energy(PBR568 $BTU) and Arch Resources(PBR857) joint venture to combine Powder River Basin and Colorado assets is denied by the US Federal Trade Commission. PR link.

Laureate Education(PBR702 $LAUR) has closed on sale of INTI Education Holdings Sdn. Bhd. and its subsidiaries (INTI Education Group), a group of higher education institutions in Malaysia, to HOPE Education Group (Hong Kong) Company Limited, for $140 million. PR link.

The US Dept of Commerce/BEA says the Preliminary 2Q20 US Net International Investment Position-Assets is at $28.873 trillion, Liabilities $41.919 trillion, for a 2Q20 Deficit of $13.046 trillion, 1Q20 Deficit was at $12.163 trillion, 4Q19 Deficit $11.051 trillion, 2Q19 Deficit $10.488 trillion. USDOC PR link.

S&P/CoreLogic/Case-Shiller says the Preliminary July 2020 US Natl Home Price Index(01/2000=100) is at 221.64, June 2020 was at 219.92, May 2020 218.66, July 2019 211.52. “In previous months, we’ve noted that a trend of accelerating increases in the National Composite Index began in August 2019. That trend was interrupted in May and June, as price gains decelerated modestly, but now may have resumed. Obviously more data will be required before we can say with confidence that any COVID-related deceleration is behind us.” Case-Shiller PR link.

The Conference Board says the Preliminary September 2020 Consumer Confidence Index(1985=100) is at 101.8, August 2020 was at 86.3, July 2020 91.7, September 2019 126.3. “A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence. Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead.” TCB PR link.

***Monday, September 28

PBRMarketTools profiles Encompass Health Corp(NYSE: $EHC), a leading provider of inpatient rehabilitation and home-based care, ranked 570 by revenues on The PBR1000. EHC Summary page.

Amazon(PBR2 $AMZN) sets its Amazon Prime Day for 10/13-14/20, is investing an additional $100 million in special Prime Day and holiday promotional programs. PR link.

Pfizer(PBR63 $PFE) gets US FDA approval for XELJANZ® (tofacitinib) for the treatment of children and adolescents 2 years and older with active polyarticular course juvenile idiopathic arthritis (pcJIA). PR link.

United Airlines(PBR74 $UAL) and its pilots agree on schedule reductions to avoid nearly 3,000 furloughs. PR link.

Tesla(PBR118 $TSLA) CEO Elon Musk is forecasting 30 million electric vehicles to be sold through 2027, says 20 million will be Teslas. Barron’s PR link.

CarMax(PBR156 $KMX) restarts its previously authorized share repurchase program, was suspended in 04/20 during uncertainty of Coronavirus pandemic, has $1.51 billion available. PR link.

Uber(PBR224 $UBER) gets 18-month London license after winning court appeal. Associated Press PR link.

MGM Resorts(PBR241 $MGM) BetMGM becomes the first sports betting platform for the NFL Tennessee Titans team, also the state’s first official partnership between a professional sports team and sports betting platform. PR link.

Universal Health(PBR270 $UHS) statement says its IT network is offline due to an IT security issue, manual backup processes being utilized. PR link.

Caesars Entertainment(PBR351 $CZR) has commenced an underwritten public offering of 30,000,000 shares of its common stock, expects to use the net proceeds for general corporate purposes, including, potentially, the possible cash offer William Hill plc. PR link.

Caesars Entertainment(PBR351 $CZR) issues US SEC filing disclosing offer of $3.7 billion for UK based William Hill, needs stockholders approval, expected to close in 2H21. PR link.

Frontier Communications(PBR374 $FTRCQ) intends to offer $1.150 billion aggregate principal amount of First Lien Secured Notes due 2027 in a private transaction as part of Chapter 11 reorganization plan. PR link.

Devon Energy(PBR458 $DVN) and WPX Energy(NYSE: WPX) agree to an all-stock merger of equals, will result in an enterprise value for the combined entity of approximately $12 billion, will be called Devon Energy, builds a dominant Delaware Basin acreage position totaling 400,000 net acres, to close in 1Q21. PR link.

Cleveland-Cliffs(PBR900 $CLF) to acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for approximately $1.4 billion, Cleveland-Cliffs will become the largest flat-rolled steel producer in N America, with combined shipments of approximately 17 million net tons in 2019, will also be the largest iron ore pellet producer in N America, with 28 million long tons of annual capacity. PR link.

Vista Outdoor(PBR938 $VSTO) wins Chapter 11 auction bid for certain assets of Remington Outdoor, including ROC’s ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks, for $81.4 million. PR link.

United Natural Foods(PBR147 $UNFI) CEO Steven Spinner to retire as CEO and become Executive Chairman on 07/31/20, or earlier upon the appointment of a successor. PR link.

***Friday, September 25

The PBRMarketTools US Stock Exchanges Recap for Week 39 ending 09/25/20:

DJIA ends Week 39 at 27,173.96, -1.75% from last Friday, -4.42% MTD, +5.27% QTD, -4.78% YTD, -8.05% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 39 at 10,913.56, +1.11% from last Friday, -7.32% MTD, +8.50% QTD, +21.63% YTD, -9.48% from record 12,056.44 set 09/02/20.

SPX ends Week 39 at 3,298.46, -0.63% from last Friday, -5.77% MTD, +6.39% QTD, +2.09% YTD, -7.89% from record 3,580.84 set 09/02/20.

The Week 39 of 2020 News Summary: Throughout the week the main topic was the legacy of longtime Supreme Court Associate Justice Ruth Bader Ginsburg, her life as a woman, wife, mother, lawyer, academic and jurist, who passed away last Friday. While not everyone agreed with her philosophies and points of view, she clearly had an impact on American society, was articulate and logical in her way of thinking, and highly respected for her willingness to be front and center as an advocate for women and those in unfortunate circumstances. In a controversial move, President Trump has announced that he will name a candidate to take her seat tomorrow, Saturday, that it will be a woman, surely a conservative, and it appears that with a Republican Senate the individual selected could get through the process and be confirmed in record time before the November 3rd Presidential Election date. The Coronavirus Pandemic continues to be prominent in the news as well. The Coronavirus Pandemic tallies as of today at 04:23PM Eastern US by the John Hopkins University CSSE unit is now 32,406,883 confirmed cases globally with 985,791 deaths, an increase of 37,424 from last Friday. For the US it’s 7,027,910 confirmed cases and 203,571 deaths, an increase of 5,265, and another slight downward trend from last Friday. Promising Phase 3 vaccine trials continue from a variety of pharmaceutical companies, initial results should be available in the next few weeks. Schools and universities continue to be challenged on finding the best way forward for effective learning and realizing they also have a big role in social and behavior development. Some major university conferences have announced that there will be a shortened fall football season and basketball will start as originally planned, as well as other sports. Adjustments include frequent testing of athletes and playing in empty stadiums. Shifting to international trade news, it appears that an Oracle/Walmart partnership to takeover the US version of China’s TikTok is acceptable by the US government, but comments from China indicate they are not so agreeable to the deal. US economic news was again mixed. Existing and New Home Sales are at high levels and mortgage rates continue to be near record lows. However, weekly initial unemployment claims continue to be higher than expected. The US Federal Reserve has indicated it has done what it needs to do, it is now up to Congress to provide a helpful stimulus package. A federal government spending bill was passed in the House, is expected to clear the Senate and get President Trump’s signature, and kicks the spending issue can down the road to mid December. Storms continue to pound the Gulf Coast causing widespread damage. The grand jury decision not to indict the law enforcement officers involved in the tragic accidental killing of Breonna Taylor has again stirred up strong emotions across the US. The US Presidential Election is revving up. President Trump has expressed his concern that voting by mail has a lot of dangerous pitfalls. He also has presented a healthcare plan with a key provision being that pre-existing conditions should be accepted, promises lower drug costs, and eliminates late billing. Candidate former VP Biden is countering that President Trump has blown the Coronavirus Pandemic and is just a dysfunctional bad guy that needs to be booted out of the White House. We could go on and on for both sides. The first US Presidential Election Debate is scheduled for next Tuesday, September 29. The US stock exchanges had a roller coaster week. The Stock Market Bear attacked early and viciously on Monday with much effect, The Stock Market Bull countered on Tuesday, The Bear come back even stronger on Wednesday, The Bull came out above even on Thursday, and took Friday in a big way. 11 of 15 sessions across the 3 major US exchanges varied by more than 1% up or down from the previous day. The result is that Week 39 ended mixed, with The Stock Market Bear holding a slim 2-1 edge as the S&P500 could have gone either way. There will be a lot of news next week, news junkies will be delighted, and there will be a lot of loud noises heard across the land. Surround your La-Z-Boy with lots of snacks and beverages and batteries for your bullhorn.

The Week 39 of 2020 tally YTD is:
The Stock Market Bull: 18 weeks
The Stock Market Bear: 16 weeks
Mixed Results: 5 weeks

Apple(PBR4 $AAPL)’s European Court ruling in its favor over whether or not it has a $15.2 billion tax bill is being appealed to the EU’s highest court. MarketWatch PR link.

Alphabet(PBR11 $GOOG) settles shareholder suits over sexual harassment claims, commits to more oversight by the Board and to spend $310 million over the next decade on corporate diversity programs. New York Times PR link.

Spirit AeroSystems(PBR385 $SPR) $420 million acquisition of ASCO is terminated by mutual agreement with no penalties to be paid. PR link.

Herbalife(PBR544 $HLF) group of 44 high level distributors being sued for deceiving new recruits. Barron’s PR link.

Apollo Global Mgmt(PBR760 $APO) and Caesars Entertainment(PBR351 $CZR) have made cash offers to acquire UK based sports betting company William Hill. William Hill PR link.

***Thursday, September 24

Target(PBR36 $TGT) says during 1H20 it had 10+ million new guests shopping on Target.com and same-day fulfillment options quadrupled, outlines plans for staffing for holiday season. PR link.

CarMax(PBR156 $KMX) completes its omni-channel rollout of used car buying online and in-store, largest retailer of used cars, has 55,000 used cars in stock. PR link.

Harley-Davidson(PBR511 $HOG) provides update on restructuring program, exiting the India market business, will affect 70 employees. PR link.

Curtiss-Wright(PBR824 $CW) to acquire privately held Portland, OR based 145 employees tactical communications solutions for battlefield network management provider PacStar for $400 million, to close in 4Q20. PR link.

The US Dept of Labor says the Week Ending 09/19/20 US Initial Jobless Insurance Claims are at 870,000, 08/22/20 was at 1,006,000, 07/25/20 1,434,000, 09/21/29 213,000; 09/12/20 Total Insured Unemployment is at 12,580,000, 08/15/20 was at 14,535,000, 07/18/20 17,018,000, 09/14/19 1,650,000. USDOL PR link.

The US Dept of Commerce/HUD says the Preliminary August 2020 US New Family Home Sales Annual Rate is at 1,011,000, July 2020 was at 965,000, June 2020 841,000, August 2019 706,000; August 2020 Median New Home Sales Price is at $312,800, July 2020 was at $327,800, June 2020 $337,700, August 2019 $327,000, August 2020 Months Supply is at 3.3 months. USDOC PR link.

FreddieMac says the 09/24/20 Average 30 Year Fixed Home Mortgage Rate is at 2.90% with 0.8 fees & points, 08/27/20 was at 2.91%, 07/30/20 2.99%, 09/26/19 3.64% with 0.6 fees & points. “While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.” FreddieMac PR link.

***Wednesday, September 23

Walmart(PBR1 $WMT) to hire 20,000+ seasonal associates in its eCommerce fulfillment centers across the US, including order fillers and power equipment operators, that begin at a starting hourly rate ranging from $15.75 up to $23.75 based on location, position and schedule. PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen Pharmaceuticals unit launches its large-scale, pivotal, multi-country Phase 3 trial (ENSEMBLE) for its COVID-19 vaccine candidate, JNJ-78436735, will enroll up to 60,000 volunteers 18 years and older across three continents, remains on track to meet its goal of providing one billion doses of a vaccine each year, goal is to deliver a vaccine for emergency use authorization in early 2021. PR link.

Tesla(PBR118 $TSLA) 2020 Annual Meeting and Battery Day Event was held on 09/22/20, see video at the link. Annual Meeting at 00:41:00, Elon Musk’s Company Update and Year in Review at 01:06:00, Battery Day Event starts at 01:40:00. PR link.

Dollar Tree(PBR126 $DLTR) resumes share repurchase program suspended in March, has around $800 million available. PR link.

LabCorp(PBR262 $LH) launches Resolution ctDx Lung™, a fast and accurate liquid non-invasive biopsy test from a standard blood sample for patients with non-small cell lung cancer (NSCLC) that was developed and will be run in partnership with Resolution Bioscience. PR link.

Baxter(PBR272 $BAX) gets US FDA approval for of Clinimix and Clinimix E with higher protein for patients requiring parenteral nutrition. PR link.

ConAgra Brands(PBR281 $CAG)’s Gardein brand debuts five new Gardein Soups, the first-ever line-up of soups featuring plant-based meat alternatives. PR link.

JM Smucker(PBR387 $SJM) unveils an updated corporate identity to better reflect its diverse portfolio including leading brands in the coffee, pet food, pet snacks, peanut butter and snacking categories. PR link.

KKR(PBR612 $KKR) to acquire 1-800 Contacts, the largest retailer of contacts in the US, from AEA Investors, terms not disclosed. PR link.

Pilgrim’s Pride(PBR268 $PPC) CFO/Interim President/CEO Fabio Sandri is appointed President/CEO effective immediately, search for new CFO starts, succeeds Jayson Penn who is no longer with the company. PR link.

The New York Times(PBR929 $NYT) Board Chairman Arthur Ochs Sulzberger Jr. to retire on 12/31/20 as Chairman Emeritus, Times publisher A.G. Sulzberger to become Chairman on 01/01/21. PR link.

***Tuesday, September 22

Walmart(PBR1 $WMT) is piloting drone delivery of at-home COVID-19 self-collection kits in partnership with Quest Diagnostics(PBR392 $DGX) and drone services provider DroneUp, will start in N Las Vegas, NV now, Cheektowaga, NY in early 10/20. PR link.

Lithia Motors(PBR245 $LAD) enters Tennessee market with acquisition of Knoxville, TN based Jim Cogdill CJDR, will add about $90 million/year in revenue. PR link.

DTE Energy(PBR246 $DTE), Consumers Energy, and 4 other energy companies to develop a network for electronic vehicles of Direct Current Fast Chargers on Midwest interstates by 2022. PR link.

Spirit AeroSystems(PBR385 $SPR) says it has reduced its workforce by around 6,000 since 01/20 because of declining aircraft orders, does not believe its $420 million acquisition of ASCO will meet the October deadline and will let the deal automatically terminate rather than extend the close by date. PR link.

Party City(PBR847 $PRTY) to hire approximately 20,000 temporary employees and open approximately 25 Halloween City pop-up stores for the Halloween season. PR link.

The US Federal Reserve in its Z1 report(Table B101e) says that the Preliminary 2Q20 Networth of Households & Non-Profits is at $118.955 trillion, 1Q20 was at $111.348 trillion, 4Q19 $118.577, 2Q19 $113.956 trillion. USFed PR link.

The Natl Assn of Realtors says the Preliminary August 2020 Existing Home Sales Annual Rate is at 6,000,000 units, July 2020 was at 5,860,000, August 2019 5,430,000; the August 2020 Median Price is at $310,600, July 2020 was at $304,100, August 2019 278,800. More details at the NAR link. NAR PR link.

The US Federal Reserve Bank of Philadelphia says the September 2020 3rd District Non-Manufacturing Current General Activity Index is at +8.0, August 2020 was at +1.6, July 2020 +0.7, September 2019 +10.3. “The respondents expect overall improvement in conditions over the next six months.” PhillyFed PR link.

The US Federal Reserve Bank of Richmond says the September 2020 US 5th District Manufacturing Index(Annualized) is at +21%, August 2020 was at +18%, July 2020 +10%, September 2019 -9%. “Overall, respondents were optimistic that conditions would continue to improve in the next six months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the September 2020 US 5th District Service Sector Revenue Index(Annualized) is at +6%, August 2020 was at +2%, July 2020 -14%, September 2019 +6%. “In general, contacts were optimistic that conditions would improve in the coming months.” RichmondFed PR link.

***Monday, September 21

Walmart(PBR1 $WMT) and Oracle(PBR80 $ORCL) get US tentative approval to become investors, Walmart at 7.5%, Oracle 12.5%, in new US based company TikTok Global, 4 out of 5 Board members will be Americans, including Walmart’s CEO, majority of stock will be owned by Americans, Oracle to provide secure US based cloud based processing, Walmart will bring its omnichannel retail capabilities including its Walmart.com assortment, eCommerce marketplace, fulfillment, payment and measurement-as-a-service advertising service, will create 25,000 jobs in the US, pay $5+ billion in taxes to US Treasury. PR link.

Walmart(PBR1 $WMT) introduces its new women and men’s fashion brand Free Assembly, Fall collection will include more than 30 items for women and 25 items for men, all priced between $9 and $45. PR link.

Microsoft(PBR17 $MSFT) to acquire 2,300 employees ZeniMax Media, the parent company of Bethesda Softworks, one of the largest, privately held game developers and publishers in the world, for $7.5 billion cash, to close in 2H21. PR link.

GE(PBR33 $GE) to exit the new build coal power market, to focus on and invest in its core renewable energy and power generation businesses. PR link.

Toll Brothers(PBR410 $TOL) midway through fiscal year 4Q20 net signed contracts increased 110% year-over-year to 1,678 homes, compared with 800 homes for the same period in FY 2019. PR link.

Ascena Retail(PBR502 $ASNAQ) restructuring plan on track, expects to emerge from Chapter 11 after Bankruptcy Court hearing on 10/23/20. PR link.

Tiffany(PBR592 $TIF) gets Delaware Court decision to proceed with trial against LVMH over LVMH’s deciding not to acquire Tiffany for $135/share, $16.2 billion, trial scheduled for 4 days starting 01/05/21. PR link.

Tiffany(PBR592 $TIF) proposed $135/share $16.2 billion acquisition by LVMH trial in Delaware Court gets comment from LVMH that it is convinced there was a Material Adverse Affect through Tiffany mismanagement of the COVID-19 crisis that nullifies the acquisition. -LVMH PR link.

Illumina(PBR666 $ILMN) to acquire multi-cancer early detection healthcare company GRAIL for $8 billion, $3.5 billion in cash & $4.5 billion in stock, to close in 2H21. PR link.

Designer Brands(PBR714 $DBI)’s DSW opens 2 DSW shops with 1,200 sf in Hy-Vee grocery stores in Minneapolis, MN, expects to have 6 by end of the month, more planned for 2021. CNN PR link.

Cubic Corp(PBR962 $CUB) adopts limited duration shareholder rights plan, expires 09/19/21, in response to Elliott Management that it has acquired 15% of Cubic’s stock, and interested in acquiring Cubic. PR link.

Roku(PBR994 $ROKU) in partnership with Comcast(PBR28)’s NBCUniversal making the Peacock streaming service available on the Roku platform and its around 100 million users. PR link.

PepsiCo(PBR51 $PEP) former CEO Don Kendall passes away at 99, was the architect of the PepsiCo family. PR link.

Veritiv(PBR394 $VRTV) Chairman/CEO Mary A. Laschinge to retire effective 09/30/20, Board member Steve Macadam to become Chairman, COO Sal Abbate to become CEO. PR link.

The US Federal Reserve Bank of Chicago says the Preliminary August 2020 US National Activity Index is at +0.79, July 2020 was at +2.54, June 2020 +5.84, August 2019 +0.16. “Index suggests slower, but still above-average growth in August.” ChiFed PR link.

***Friday, September 18

The PBRMarketTools US Stock Exchanges Recap for Week 38 ending 09/18/20:

DJIA ends Week 38 at 27,657.42, -0.03% from last Friday, -2.72% MTD, +7.15% QTD, -3.09% YTD, -6.41% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 38 at 10,793.28, -0.56% from last Friday, -8.34% MTD, +7.30% QTD, +20.29% YTD, -10.48% from record 11,775.46 set 08/31/20.

SPX ends Week 38 at 3,319.47, -0.64% from last Friday, -5.17% MTD, +7.07% QTD, +2.75% YTD, -7.30% from record 3,508.01 set 08/28/20.

The Week 38 of 2020 News Summary: There is a weariness about the Coronavirus Pandemic being the major headline day in and day out internationally and in the US, and this week saw the rise of several other items of interest. But first, the Coronavirus Pandemic tallies as of today at 01:22PM Eastern US by the John Hopkins University CSSE unit is now 30,316,394 confirmed cases globally with 948,367 deaths, an increase of 36,125 from last Friday. For the US it’s 6,710,585 confirmed cases and 198,306 deaths, an increase of 5,370, and a slight downward trend from last Friday. Counts in Europe are going up and governments are trying to figure out how to respond. Prospective vaccines are in test trials and results should be coming out in the next few weeks, US President Trump insists a vaccine will be available by the end of October, logistics channels are being defined and set up. Schools and universities are still trying to figure out the optimum way to open up their campuses and classrooms and provide effective online learning options as well. In a change, The Big 10 announced it will play football this fall, with 8 game seasons, other conferences are considering this as well. For international news Israel, United Arab Emirates, Bahrain, and the US signed the historic Abraham Accord, and now will start establishing embassies and trade agreements. Japan’s Prime Minister Shinzo Abe has officially resigned for health reasons and his right hand man Yoshihide Suga has been named the new Prime Minister. An acceptable deal for the US part of China based TikTok has not produced a buyer yet, and an order has been issued to stop the service in the US soon, creating some interesting tensions between the US and China and technology firms. The 2020 US Presidential and General Elections are heating up as the amount of TV and media outlets ramp up to unprecedented levels, and featuring a lot of “the other candidate is the worst possible, vote for me.” Hurricane Sally hit the Gulf Coast with a lot of high winds and rain, creating floods and major destruction. The wildfires in California, Oregon and Washington continue to rage killing people, destroying property, and causing havoc for many. Economic news continues to be mixed, with the primary news coming from the Federal Reserve Open Meeting Committee keeping short-term interests rates at 0.00-0.25% as expected, saying it will probably stay that way through 2023, and not offering much else to help stir the economy. Manufacturing indices were up a bit, as were retail sales, initial jobless claims were down a bit but still high, and business and consumer sentiment surveys were cautiously optimistic. However, the international trade deficit has increased significantly. There were a lot of technology initial public offerings this week, and more planned in the coming weeks, results were generally stock prices above the initial asking price. The Stock Market Bull had a great Monday and a good Tuesday, and decided to take a celebratory roll in the pasture grass. The Stock Market Bear saw his openning and took Thursday, and in what seemed to be an improbable result a tech sell-off was strong enough to erase the significant lead at the start of the week. The Stock Market Bear did a mighty growl of delight that reverbrated throughout the pasture at his Week 38 3-0 snatching victory from defeat, his 3rd win week in a row. Be prepared for a lot of action next week!

The Week 38 of 2020 tally YTD is:
The Stock Market Bull: 18 weeks
The Stock Market Bear: 16 weeks
Mixed Results: 4 weeks

Hertz(PBR315 $HTZ) plan to pay top managers up to $14.6 million in bonuses after they collected $16.2 million in additional bonuses days before the rental car company filed for bankruptcy is rejected by bankruptcy judge who says they must revise the plan. MarketWatch PR link.

The Conference Board says the Preliminary September 2020 Leading Economic Index(2016=100) is at 106.5, August 2020 was at 105.3, July 2020 103.3, September 2019 111.6. “… the slowing pace of improvement suggests that this summer’s economic rebound may be losing steam heading into the final stretch of 2020, … Despite the improvement, the LEI remains in recession territory, still 4.7 percent below its February level. Weakening in new orders for capital goods, residential construction, consumers’ outlook, and financial conditions point to increasing downside risks to the economic recovery. Looking ahead to 2021, the LEI suggests that the US economy will start the new year under substantially weakened economic conditions.” TCB PR link.

The U of Michigan Preliminary September 2020 US Consumer Sentiment Index is at 78.9, August 2020 was at 74.1, July 2020 72.5, September 2019 93.2. “… there are two factors that could cause volatile shifts and steep losses in consumer confidence: how the election is decided and the delays in obtaining vaccinations. While the end of the recession will depend on these non-economic factors, the hardships endured by consumers can only be offset by renewed federal relief payments.” UMichigan PR link.

The US Dept of Commerce/BEA says the Preliminary 2Q20 US Exports of Goods, Services, Income Receipts is at $688.0 billion, 1Q20 was at $897.2 billion, 2Q19 $953.9 billion; 2Q20 US Imports of Goods, Services, Income Payments is at $858.5 billion, 1Q20 was at $1,008.7 billion, 2Q19 $1,081.6 billion; 2Q20 Deficit is at $170.5 billion, 1Q20 Deficit was at $111.5 billion, 2Q19 $127.7 billion. “This is the largest deficit recorded since the third quarter of 2008 when it was $178.2 billion.” USDOC PR link.

The US Federal Reserve Bank of New York releases the September 2020 US Economy in a Snapshot. NYFed PR link.

The US Dept of Commerce issues an order prohibiting China based apps WeChat and TikTok transactions to protect the national security of the US, effective 09/20/20, TikTok has until 11/12/20 to resolve issues to prevent further restrictions. USDOC PR link.

***Thursday, September 17

PBRMarketTools profiles the largest US competitive residential electricity provider, Vistra Energy(NYSE: VST), ranked 258 by revenues on The PBR1000. More on the VST Spotlight page.

Ford(PBR12 $F) begins production at the Dearborn, MI Ford Rouge Center of the all-new F-150 pickup, to be available in November, investing $700 million to construct the Rouge Electric Vehicle Center where it will build the all-electric F-150 by mid 2022. PR link.

MetLife(PBR48 $MET) to acquire Versant Health, which owns well-established marketplace vision insurance brands Davis Vision and Superior Vision, from an investor group led by Centerbridge Partners and including FFL Partners for approximately $1.675 billion cash, to close in 4Q20. PR link.

Delta(PBR66 $DAL) says 40,000+ employees voluntarily signed up for short- and long-term unpaid leaves of absence, ground-based employees have taken 25% reduction in hours, 20% of employees have taken early retirement and departure plans, will be able to avoid involuntary furloughs for flight attendants and ground-based US frontline employees. PR link.

Eli Lilly(PBR139 $LLY) and Amgen(PBR179 $AMGN) announce a global antibody manufacturing collaboration to significantly increase the supply capacity available for Lilly’s potential COVID-19 therapies, will have the ability to quickly scale up production and serve more patients around the world should one or more of Lilly’s antibody therapies prove successful in clinical testing and receive regulatory approval. PR link.

Carnival Corp(PBR153 $CCL)’s P&O Cruises, which primarily serves the UK market, cancels all sailings until early 2021. PR link.

MGM Resorts(PBR241 $MGM) BetMGM service becomes first official betting partner for the Las Vegas Raiders football team in expansion of partnership. PR link.

Quest Diagnostics(PBR392 $DGX) offers QuestDirect, allows individuals to purchase a test to diagnose COVID-19 online, without visiting a doctor’s office, specimen collection available at-home or at one of more than 500 Walmart(PBR1 $WMT) Neighborhood Market drive-thru pharmacy locations across the US, price is $119.00 plus $9.30 physician fee. PR link.

Palo Alto Networks(PBR767 $PANW) completes $265 million cash acquisition of The Crypsis Group, a leading incident response, risk management and digital forensics consulting firm. PR link.

Meritage Homes(PBR655 $MTH) Co-founder/President/CEO Steven Hilton to retire as CEO after 35 years, will become Executive Chairman, effective 01/01/21, COO Phillippe Lord to become CEO at that time. PR link.

The US Dept of Labor says the 2Q20 US Employee Costs-Salaries & Wages/Hour is at $26.17, Benefits $12.04, Total $38.21, 1Q20 was at $37.73, 4Q20 $37.10, 2Q19 $36.60. USDOL PR link.

The US Dept of Commerce/HUD says the Preliminary August 2020 US Building Permits Issued-Private Housing Annual Rate is at 1,470,000, July 2020 was at 1,483,000, June 2020 1,258,000, August 2019 1,471,000. Starts and Completions are at the link. USDOC PR link.

The US Federal Reserve Bank of Philadelphia says the September 2020 US 3rd District Manufacturing General Activity Indicator is at +15.0, August 2020 was at +17.2, July 2020 +24.1, September 2019 +12.2. “Nearly all of the future indexes increased, suggesting more widespread optimism among firms about growth over the next six months.” PhillyFed PR link.

***Wednesday, September 16

General Motors(PBR18 $GM) says its next-generation EVs(electric vehicles) are expected to be powered by a family of five interchangeable drive units and three motors, known collectively as “Ultium Drive.” PR link.

Facebook(PBR47 $FB) announces Oculus Quest 2 – the next generation of all-in-one Virtual Reality(VR), starts at $299. PR link.

Carnival Corp(PBR153 $CCL) announces new fall weekly AIDA Italian cruises starting 10/17/20. Cruise Industry News PR link.

Kohl’s(PBR159 $KSS) discloses that it has reduced corporate positions by approximately 15% in response to the COVID-19 pandemic. PR link.

Tractor Supply(PBR363 $TSCO) celebrates the opening of its 1,900th store, located in Oakhurst, CA. PR link.

Raymond James(PBR390 $RJF) to lay off 4% of its workforce, 500+ employees, in response to COVID-19 pandemic, none will be financial advisors. Tampa Bay Times PR link.

The Eastman Kodak(PBR983 $KODK) independent special committee completes its review of the recent activity by the Company and related parties in connection with the announcement of a potential $765 million loan by the US International Development Finance Corporation to support the launch of Kodak Pharmaceuticals, determines there was no illegal insider trading involved. PR link.

GoPro(PBR990 $GPRO) announce new camera HERO9 Black, includes a new sensor that delivers 5K video and 20 megapixel photos, next-generation HyperSmooth 3.0 video stabilization with in-camera horizon leveling, a new front-facing display, a larger rear display, 30% more battery life, and a Max Lens Mod accessory that brings Max HyperSmooth video stabilization and Max SuperView ultra wide-angle photo and video to HERO9 Black, starts at $349.98 for GoPro subscribers, $449.99 for non-subscribers. PR link.

Veeva Systems(PBR997 $VEEV) has formed a board committee to explore becoming a public benefit corporation (PBC). PR link.

The US Federal Reserve Open Market Committee completes its 2 day meeting, says, “The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.” FOMC PR link.

The US Dept of Commerce/Census says the Preliminary July 2020 US Sales-Manufacturers is at $479.5 billion, Wholesalers $482.4 billion, Retailers $479.2 billion, Total $1,441.1 billion, June 2020 was at $1,396.2 billion, May 2020 $1,285.8 billion, July 2019 $1,458.2 billion.
USDOC PR link.

The US Dept of Commerce/Census says the Advance August 2020 US Sales-Retail are at $482.9 billion, Food Services & Drinking Places $54.6 billion, Total $537.5 billion, July 2020 was at $534.6 billion, June 2020 $530.0 billion, August 2019 $524.1 billion. USDOC PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary September 2020 Housing Market Composite Index is at a record high of 83, August 2020 was at 78, July 2020 72, September 2019 68. “Historic traffic numbers have builders seeing positive market conditions, but many in the industry are worried about rising costs and delays for building materials, especially lumber,” said NAHB Chairman Chuck Fowke. “More domestic lumber production or tariff relief is needed to avoid a slowdown in the market in the coming months.” NAHB/WF PR link.

***Tuesday, September 15

Amazon(PBR2 $AMZN) launches Luxury Stores, offers both established and emerging luxury fashion and beauty brands, Oscar de la Renta unveils the first store featuring its Pre-Fall and Fall/Winter 2020 collections, inclusive of ready-to-wear, handbags, jewelry, accessories, and a new perfume, with childrenswear coming soon, more brands will launch within Luxury Stores in the coming weeks and seasons. PR link.

Apple(PBR4 $AAPL) releases new versions of Apple Watch, iPads, and subscription services. PR link.

Facebook(PBR47 $FB) announces a new Climate Science Information Center to connect people with science-based information. PR link.

Pfizer(PBR63 $PFE) in its 2 day virtual investor day says it has 89 pipeline projects spread across 6 targeted therapeutic areas with 4 programs in registration and 23 in Phase 3. PR link.

T-Mobile US(PBR70 $TMUS) and American Tower(PBR397) sign 15 year deal, will allow TMUS to expand its 5G network. PR link.

ViacomCBS(PBR104 $VIAC)’s CBS All Access to be rebranded as Paramount+ in early 2021 as its global streaming service. PR link.

Kraft Heinz(PBR117 $KHC) to sell its Natural, Grated, Cultured and Specialty cheese businesses to a US affiliate of Groupe Lactalis for $3.2 billion, will retain the Philadelphia Cream Cheese, Kraft Singles, Velveeta Processed Cheese and Cheez Whiz Processed Cheese businesses in the US and Canada, the Kraft, Velveeta and Cracker Barrel Mac & Cheese businesses worldwide, and the Kraft Sauces business worldwide, to close in 1H21. PR link.

Union Pacific(PBR143 $UNP) celebrates 150 years on the NY Stock Exchange, is the largest publicly traded railroad. PR link.

Carnival Corp(PBR153 $CCL) says it lost $2.9 billion in 3Q20, has $8.2 billion in reserves, 18 less efficient ships have left or are leaving the fleet, some operations have re-opened. Cruise Industry News PR link.

Dick’s Sporting Goods(PBR350 $DKS) partners with Under Armour(PBR520 $UA) to launch a women’s engineered basketball shoe, the UA HOVR Breakthru. PR link.

Fortive(PBR405 $FTV) expects completion date of 10/09/20 for spin-off of Vontier, will trade as NYSE: VNT. PR link.

RR Donnelley(PBR456 $RRD) to sell its $530 million in revenues for year ending 06/30/20 DLS Worldwide Logistics business to TFI International(NYSE and TSX: TFII) for $225 million in cash, to close within 60 days. PR link.

ServiceMaster(PBR887 $SERV) to change its name to Terminix Global Holdings, change its trading symbol from SERV to NYSE: TMX upon closing of the sale of its ServiceMaster Brands segment to Roark Capital, expected within 30 days, and Brett Ponton starts as CEO effective today, interim CEO Naren Gursahaney will continue his role as non-Executive Chairman. PR link.

Sirius XM Radio(PBR388 $SIRI) CEO Jim Meyer to retire on 12/31/20, will become Vice Chairman, President of Sales, Marketing and Operations Jennifer C. Witz to become new CEO. PR link.

The US Dept of Labor says the Preliminary August 2020 US Import Prices Monthly Index Change is at +0.9%, July 2020 was at +1.2%, June 2020 +1.4%, August 2019 -0.6%; the August 2020 US Export Prices Monthly Index Change is at +0.5%, July 2020 was at +0.9%, June 2020 +1.8%, August 2019 -0.6%; the August 2020 Year-to-Year Import Prices Index Change is at -1.4%, Export Prices -2.8%. USDOL PR link.

The US Federal Reserve says that the Preliminary August 2020 US Factory Capacity Utilization is at 71.4%, July 2020 was at 71.1%, June 2020 68.7%, August 2019 77.8%. Production data is at the link. PR link.

The US Federal Reserve Bank of New York says the September 2020 Empire State Manufacturing General Business Conditions Index is at +17.0, August 2020 was at +3.7, July 2020 +17.2, September 2019 +2.2. “… firms remained optimistic that conditions would improve over the next six months.” PR link.

The US Census Bureau says the median household income in 2019 increased 6.8% from 2018 to $68,703, the official poverty rate decreased 1.3 percentage points to 10.5%, and 92% of the population had health insurance. PR link.

***Monday, September 14

Amazon(PBR2 $AMZN) is hiring an additional 100,000 regular employment opportunities throughout the US and Canada on top of the 33,000 Corporate and Technology jobs announced last week, roles offer a starting wage of at least $15 per hour, full benefits, and in select cities offering sign-on bonuses up to $1,000. PR link.

Microsoft(PBR17 $MSFT) says it’s not acquiring TikTok after ByteDance rejects offer. TheVerge PR link.

Verizon(PBR20 $VZ) to acquire largest reseller of wireless services in the US, serving approximately 21 million subscribers through a network of over 90,000 retail locations nationwide Tracfone from America Movil for up to $6.9 billion cash and stock, to close in 2H21. PR link.

Facebook(PBR47 $FB) buys REI’s new HQ for $367.6 million, expanding Seattle-area footprint beyond 3 million sf, will house 2,300 employees, REI deciding to decentralize, is in addition to other Facebook facilities in the area. GeekWire PR link.

Pepsi(PBR51 $PEP) launching the de-stressing and relaxation-promoting Driftwell, calorie- and sugar-free noncarbonated water, flavored with a hint of blackberry and lavender, contains 200 milligrams of L-theanine and 10% of the daily value of magnesium, to go on sale online in 12/20, SRP $17.99/10 pack. Fast Company PR link.

Pfizer(PBR63 $PFE) and BioNTech SE(NASDAQ: BNTX) have submitted an amended protocol to the US Food and Drug Administration to expand the enrollment of their Phase 3 pivotal COVID-19 vaccine trial to up to approximately 44,000 participants which also allows for the enrollment of new populations, expects that a conclusive readout on efficacy is likely by the end of 10/20. PR link.

Merck(PBR67 $MRK) to make up to a $4.2 billion investment in Seattle Genetics(NASDAQ: SGEN) to co-develop and commercialize some cancer therapies being developed. PR link.

Dow(PBR75 $DOW) to divest US Gulf Coast marine and storage terminal operations and assets at Dow’s sites in Plaquemine and St. Charles, Louisiana, and Freeport, Texas to Vopak Industrial Infrastructure Americas, a joint venture of Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund, for $620 million, to close in 4Q20. PR link.

Oracle(PBR80 $ORCL) reportedly wins deal for TikTok’s US operations as ‘trusted tech partner’. TheVerge PR link.

ViacomCBS(PBR104 $VIAC) selling its digital brands CNET Media Group to Red Ventures for $500 million. PR link.

Gilead Sciences(PBR134 $GILD) to acquire next-generation antibody-drug conjugate (ADC) technology for hard to treat cancers developer Immunomedics(NASDAQ: IMMU) for $88.00/share in cash, approximately $21 billion. PR link.

CenturyLink(PBR137 $CTL) to change its name to Lumen Technologies, Inc. PR link.

L Brands(PBR240 $LB) announces joint venture with Next PLC (LON: NXT), for its company-owned 500+ employees Victoria’s Secret business in the UK and Ireland, next will own 51%, manage and operate the stores, UK ecommerce to be folded into partnership in 2021, terms not disclosed. PR link.

MGM Resorts(PBR241 $MGM) will have all properties open after re-openings of Park MGM and Nomad Las Vegas on 09/30/20, both to be The Strip’s first fully smoke-free casino resorts. PR link.

Navistar(PBR274 $NAV) says revised acquisition by TRATON SE for $43/share significantly undervalues company but represents a starting point to have a discussion on the possibilities. PR link.

NVIDIA(PBR285 $NVDA) to acquire AI development Cambridge, UK based company Arm Limited from SoftBank for $40 billion cash & stock, to close in around 18 months. PR link.

Caesars Entertainment(PBR351 $CZR) has entered into a multi-year agreement with Walt Disney({PBR49 $DIS)’s ESPN, new deal includes link integrations from ESPN’s digital platforms to sportsbooks from Caesars Entertainment’s sports betting partner, William Hill. PR link.

Sirius XM Radio(PBR388 $SIRI) gets long-term extension into 2027 with General Motors(PBR18 $GM), will expand to be included in almost all GM vehicles starting in model year 2021. PR link.

Simon Property(PBR481 $SPG) will not be opening its mall properties on Thanksgiving Day, will open on Black Friday. PR link.

Camping World(PBR541 $CWH) announces long-term goals, initiatives and 2021 outlook highlights, includes growing 2.1 million member base and average revenue per member of $1,850/year by 10% over the next 36 months. PR link.

Laureate Education(PBR703 $LAUR) to sell its Brazilian based assets, 11 higher education institutions with 267,000+ students, to Ser Educacional for $724 million plus have 44% stake in Ser Educacional, to close by end of 2021. PR link.

WW(PBR973 $WW) launches first ready-to-drink, canned coffee lattes, initially two flavors, Cafe Latte and Mocha Latte, available online, in studios in mid-October, contains 80-85 grams of caffeine, similar to regular coffee, 11 grams of protein, 3 grams of fiber, 20% daily requirement for calcium, uses cane sugar for sweetener, 4 pack for $11.99. PR link.

***Friday, September 11

***The 19th Anniversary of 9/11.
***Remember those who lost their lives.
***Ask what we can do to preserve our freedoms.
***Do a good deed.

The PBRMarketTools US Stock Exchanges Recap for Week 37 ending 09/11/20:

DJIA ends Week 37 at 27,665.64, -1.66% from last Friday, -2.69% MTD, +7.18% QTD, -3.06% YTD, -6.38% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 37 at 10,853.55, -4.06% from last Friday, -7.83% MTD, +7.90% QTD, +20.96% YTD, -9.98% from record 11,775.46 set 08/31/20.

SPX ends Week 37 at 3,340.97, -2.51% from last Friday, -4.55% MTD, +7.76% QTD, +3.41% YTD, -6.70% from record 3,508.01 set 08/28/20.

The Week 37 of 2020 News Summary: The Coronavirus Pandemic continues to infect the news each day, but there were some counter news items that held the spotlight as well. The Coronavirus Pandemic tallies as of today at 06:14PM Eastern US by the John Hopkins University CSSE unit is now 28,313,733 confirmed cases globally with 912,242 deaths, an increase of 41,037 from last Friday. For the US it’s 6,442,557 confirmed cases and 192,936 deaths, an increase of 5,452, and a downward trend from last Friday. One vaccine phase 3 test was suspended because of an illness of one participant, but other vaccine candidate phase 3 tests continue with more to come on board. Health care experts are still saying they see the possibility of a vaccine being available around the start of 2021. Schools and universities continue to try to reopen with mixed success as they implement a variety of strategies to give students an opportunity to learn but also stay safe. The wildfires in California and Oregon caught of lot of news, especially some photos from San Francisco showing otherworldly orange skies caused by the smoke. There are some deaths, 500,000 people have had to leave their homes in Oregon, and there are significant homes and businesses losses from the fires. In the US civil unrest continues in some major cities as they grapple with actions with confirming videos of some highly likely law enforcement misdeeds resulting in tragic deaths of black people. In international news there were no outward signs that the US and China are coming to any agreements and US President Trump has said that he will not extend the timing for a possible acquisition of the US TikTok business by September 15th. President Trump has brokered a deal that will normalize relations between Bahrain and Israel, another significant Middle East agreement. US economic news continued to be mixed with initial unemployment claims remaining the same, consumer debt is up, housing delinquencies are up, mortgage rates are near record lows, the consumer price index showed some improvement. Friday was another somber 9/11 remembrance day, the 19th anniversary of the horrible event that has changed the US in many ways. The week was filled with the usual US general elections noise, with President Trump being accused of some more questionable actions and tweets, countered by the usual strong denials and attacks on the Joe Biden and Kamala Harris shortcomings. In a short 4-day trading week The Stock Market Bear took charge on Tuesday, The Stock Market Bull took back a significant part of that on Wednesday, lost big time again on Thursday, and Friday was a less volatile mixed result. The Stock Market Bear gets his 2nd week in a row with a Week 37 3-0 clear win, with experts offering conflicting expert opinions about which way the stock market winds will blow next week.

The Week 37 of 2020 tally YTD is:
The Stock Market Bull: 18 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 4 weeks

Kroger(PBR22 $KR) in 2Q20 report says it has authorized a new $1 billion share repurchase program, replaces prior authorization. PR link.

Laureate Education(PBR702 $LAUR) completes its divestitures of higher education operations in Chile for around $218 million. PR link.

Verisk Analytics(PBR813 $VRSK) has acquired Bradenton, FL based Franco Signor, a highly-regarded Medicare Secondary Payer (MSP) service provider, for $160 million. PR link.

Adtalem Education(PBR999 $ATGE) to acquire Walden University, a leading online healthcare education provider, from Laureate Education(PBR702) for $1.48 billion in cash, to close in mid 2021. PR link.

The US Dept of Treasury says the August 2020 US Federal Government Receipts is at $223.2 billion, Outlays $423.3 billion, August 2020 Deficit is $200.1 billion, August 2019 Deficit was $200.3 billion; August 2020 Fiscal YTD(11 Months) Receipts are at $3,046.8 billion, Outlays $6,054.2 billion, August 2020 Deficit Fiscal YTD is at $3,007.4 billion, August 2019 was at $1,067.2 billion. USTreasury PR link.

The US Dept of Labor says the August 2020 US Monthly Gross Domestic Product is +0.4%, July 2020 was at +0.6%, June 2020 +0.6%, August 2019 +0.1%; August 2020 Last 12 Months(Unadjusted) is at +1.3%, July 2020 was at +1.0%, June 2020 +0.6%, August 2019 +1.7%. USDOL PR link.

The US Dept of Labor says the Preliminary August 2020 US Employee Current Average Earnings/Hour is at $29.47, Average Hours Worked/Week is at 34.6, for Total Current Average Weekly Earnings of $1,019.66, July 2020 was at $1,012.92, June 2020 $1,014.47, August 2019 $968.70. USDOL PR link.

***Thursday, September 10

Target(PBR36 $TGT) planning to increase representation of Black team members across the company by 20% over the next three years by focusing on advancement, retention and hiring. PR link.

Carnival Corp(PBR153 $CCL) Costa Cruises announces its new itineraries for Winter 2020-2021. PR link.

Carnival Corp(PBR153 $CCL) Holland America releases schedule for 5 ships set to explore Europe from Greenland to Greece in 2021. PR link.

Kohl’s(PBR159 $KSS) and adidas, a global leader in the sporting goods industry, announce a new 2 year collaboration with actress and activist Zoe Saldana to launch the adidas x Zoe Saldana collection of active apparel, footwear and accessories for women. PR link.

Navistar(PBR274 $NAV) confirms it has received a revised proposal from TRATON SE to acquire Navistar for $43 per share in cash, previous proposal was for $35/share, Board to review proposal. PR link.

JetBlue(PBR376 $JBLU) will launch 24 new routes later this year aimed at immediately generating cash and capturing traffic on a variety of new, nonstop routes, is extending its Go Back and Forth with Confidence initiative for new bookings made through 02/28/21 for travel on any date, waives all change and cancel fees for all fares, including Blue Basic. PR link.

Tiffany(PBR589 $TIF) being countersued by LVMH, LVMH says its $135/share, $16.2 billion acquisition termination lawsuit by Tiffany is clearly unfounded, misleading and defamatory, Tiffany problems caused by mismanagement and termination was lawful. PR link.

Citigroup(PBR32 $C) CEO Michael Corbat to retire in 02/21, President/CEO of Global Consumer Banking Jane Fraser appointed to be successor, elected to the Board effective immediately. PR link.

Universal Health(PBR270 $UHS) Founder/Chairman/CEO Alan Miller to become Executive Chairman, President Marc Miller to become CEO, both effective 01/01/21. PR link.

The US Dept of Commerce/Census says the US Preliminary July 2020 US Wholesale Sales-Durables is at $234.8 billion, Non-Durables $244.3 billion, Total Wholesale Sales is $479.1 billion, June 2020 was at $458.1 billion, May 2020 $420.5 billion, July 2019 $499.4 billion. USDOL PR link.

The US Dept of Labor says the Preliminary August 2020 US Producer Price Index-Total Monthly Final Demand is at +0.3%, July 2020 was at +0.6%, June 2020 -0.2%, August 2019 +0.1%. USDOL PR link.

***Wednesday, September 9

Walmart(PBR1 $WMT) launches drone delivery pilot in Fayatteville, NC, in partnership with end-to-end drone delivery company Flytrex. PR link.

Amazon(PBR2 $AMZN) will host its 2020 Career Day on Wednesday, 09/16/20, has 33,000 corporate and tech jobs currently available across the country, and the thousands of additional hourly positions in the company’s operations network to be announced soon. PR link.

Microsoft(PBR17 $MSFT) introduces the new generation of Xbox with Xbox Series X for $499 and the Xbox Series S for $299, to be released 11/10/20, pre-orders start 09/22/20. PR link.

Boeing(PBR40 $BA) warns of delays in deliveries of its 787 Dreamliner, as three separate production flaws over the past year hamper efforts to develop an alternative cash cow to its grounded 737 MAX. Reuters PR link.

UPS(PBR43 $UPS) to hire 100,000+ seasonal employees for the upcoming holiday season. PR link.

Pfizer(PBR63 $PFE) and BioNTech SE(NASDAQ: BNTX) have concluded exploratory talks with the European Commission for a proposed supply of 200 million doses of their investigational BNT162 mRNA-based vaccine candidate against SARS-CoV-2 to European Union (EU) Member States, with an option for further 100 million doses, deliveries would be starting by the end of 2020. PR link.

Tyson(PBR76 $TSN) says it is the first US food company to verify sustainable cattle production practices at scale. PR link.

Northrop Grumman(PBR91 $NOC) gets $13.3 billion contract from the US Air Force to modernize the nation’s aging intercontinental ballistic missile (ICBM) system, for the engineering and manufacturing development (EMD) phase of the Ground Based Strategic Deterrent (GBSD) program. PR link.

ViacomCBS(PBR104 $VIAC) Entertainment and Youth Group announces three-year partnership with iHeartMedia(PBR650 $IHRT), the biggest global commercial podcasting publisher. PR link.

Navistar(PBR274 $NAV) in 3Q20 report says it plans to dual-build diesel and electric vehicles in San Antonio, TX, to open in Spring 2022. PR link.

JCPenney(PBR291 $JCPNQ) expects to execute a “stalking horse” asset purchase agreement with assets being purchased by Brookfield Property Group and Simon Property(PBR480) for $1.75 billion in cash and new term loan debt, plans to close transaction before the 2020 holiday season starts. PR link.

AMC Entertainment(PBR503 $AMC) says over 1,000,000 have been in their US theatres since phased reopenings started 3 weeks ago, globally 4,000,000+ have attended since reopenings started in June. PR link.

Tiffany(PBR589 $TIF) $135/share, $16.2 billion acquisition by LVMH Moet Hennessey-Louis Vuitton terminated by LVMH, Tiffany files lawsuit to enforce merger agreement. PR link.

The US Dept of Labor says the Preliminary July 2020 US Job Openings-Private are at 5,947,000, Government 671,000, Total Job Openings 6,618,000, June 2020 was at 6,001,000, May 2020 5,371,000, July 2019 7,236,000. Hires and Separations data at the link. USDOL PR link.

***Tuesday, September 8

Amazon(PBR2 $AMZN) bans sales of foreign plant seeds to US amid mystery mailings from China. MarketWatch PR link.

Apple(PBR4 $APPL) countersues Fortnite creator Epic Games for breach of contract regarding the Apple App Store. Forbes PR link.

General Motors(PBR18 $GM) to get $2 billion in Nikola(NASDAQ: $NKLA) common shares for an 11% equity interest in exchange for certain in-kind services including its Ultium battery system and Hydrotec fuel cell technology initially for its Nikola Badger electric vehicle trucks. PR link.

SYNNEX(PBR125) says it is on track to separate into two publicly traded companies: comprising of $19 billion/year SYNNEX Technology Solutions, a leading IT distribution, services and integrated solutions company, and $4.7 billion/year Concentrix, a leading global CX solutions company, to close in 4Q20. PR link.

Carnival Corp(PBR153 $CCL)’s Costa Crociere suspends 2020-2021 season in South America and announces opening of 2021-2022 season sales in the region. PR link.

Carnival Corp(PBR153 $CCL) Cunard’s 2022 classic World Voyage on the illustrious Queen Mary 2 goes on sale today, 118 night voyage will leave New York City on 01/03/22, return 05/01/22. PR link.

Mylan(PBR271 $MYL) to acquire the related intellectual property and commercialization rights of Aspen Pharmacare Holdings Limited‘s thrombosis business in Europe for around $760 million, to close by 12/31/20. PR link.

Keurig Dr Pepper(PBR278 $KDP) to move from NYSE to NASDAQ, keep KDP ticker symbol, starting 09/21/20. PR link.

Clorox(PBR434)’s Pine-Sol® Original Multi-Surface Cleaner received approval from the US Environmental Protection Agency (EPA) for kill claims against SARS-Cov-2, the virus that causes COVID-19, on hard non-porous surfaces. PR link.

Michaels Cos(PBR533) to hire 16,000+ employees for the holiday season. PR link.

Brunswick(PBR619) restarts its 2020 share repurchase program, had completed around a third of the $100 million authorized. PR link.

The US Federal Reserve says the Preliminary July 2020 US Consumer Credit Outstanding-Revolving is at $994.7 billion, Non-Revolving $3,144.2 billion, Total Consumer Credit Outstanding $4,138.9 billion, June 2020 was at $4,126.6 billion, May 2020 $4,115.3 billion, July 2019 $4,121.9 billion. USFed PR link.

CoreLogic says the June 2020 US Home Loan Mortgages 30 Days or More Delinquent is at 7.1%, May 2020 was at 7.3%, April 2020 6.1%, June 2019 4.0%. “While federal and state governments work toward additional economic support, we expect serious delinquencies will continue to rise — particularly among lower-income households, small business owners and employees within sectors like tourism that have been hard hit by the pandemic.” CoreLogic PR link.

The FannieMae August 2020 Home Purchase Sentiment Index is at 77.5, July 2020 was at 74.2, June 2020 76.5, August 2019 93.8. “The HPSI’s recovery was driven by near-record low mortgage rates that helped restore much of consumers’ positivity on whether it is a good time to buy a home, while also improving the good-time-to-sell sentiment. The August survey was conducted as consumers continue to face uncertainty regarding schools’ and businesses’ reopening plans and as the CARES Act $600-per-week income supplement expired.” FannieMae PR link.

***Monday, September 7

***US Labor Day Observed.
***US Stock Exchanges Closed.

***Friday, September 4

The PBRMarketTools US Stock Exchanges Recap for Week 36 ending 09/04/20:

DJIA ends Week 36 at 28,133.31, -1.82% from last Friday, -1.04% MTD, +8.99% QTD, -1.42% YTD, -4.80% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 36 at 11,313.13, -3.27% from last Friday, -3.93% MTD, +12.47% QTD, +26.09% YTD, -6.12% from record 11,775.46 set 08/31/20.

SPX ends Week 36 at 3,426.96, -2.31% from last Friday, -2.10% MTD, +10.54% QTD, +6.07% YTD, -4.33% from record 3,508.01 set 08/28/20.

The Week 36 of 2020 News Summary: While the seemingly neverending Coronavirus Pandemic continued to make some new news, it was mostly underlying other events. The Coronavirus Pandemic tallies as of today at 02:28PM Eastern US by the John Hopkins University CSSE unit is now 26,437,886 confirmed cases globally with 871,205 deaths, an increase of 37,697 from last Friday. For the US it’s 6,191,294 confirmed cases and 187,484 deaths, an increase of 6,049 from last Friday. The big news was the the US Center for Disease Control(CDC) issued an alert for healthcare facilities to be ready for widespread vaccinations starting 11/01/20, indicating that they expect the results from current Phase 3 studies to show positive results. Many view this as premature, possibly a political ploy. Another news item is that Russia says it has had excellent results with one of its vaccines, but it was from a limited sample test size. International trade became an issue again as the US trade deficit for goods to a large leap. No deal for China based popular social media TikTok’s US operations has been made as the 09/15/20 deadline looms before it is shut off. Japan is still struggling with international trade issues because of the loss of Prime Minister Abe for health reasons. US corporate quarterly earnings continue to be mixed showing definite negative, and in some cases positive, effects from the pandemic related shutdown. Throughout the week civil unrest was a central theme in the US, as riots and violence continued in some major cities, and another shooting of a black man by law enforcement officials was reported, which continues to stir unrest. US Presidential politics being what they are, both candidates took jabs at each other saying the other party was the cause. US economic news was mixed as well. ADP’s private sector employment change was under 500,000, far below expectations. Initial jobless claims came in under 1 million, based on a new seasonal adjustment criteria, the unemployment rate dropped below 10% for the first time since the start of the pandemic to 8.4%. The Federal Reserve’s Beige Book was released indicating the US economy has improved, but only at a modest rate. Manufacturing surveys indicated some improvement. How did the stock market respond? The Stock Market Bull seemed to be quite pleased with himself, with positive results the first 3 days. He took time off for a pedicure, The Stock Market Bear took advantage and took a huge bite out of the Bull’s rear end on Thursday and Friday, to comeback and take a big 3-0 Week 36 win after losing 5 weeks in a row. The stock markets corrections were not unexpected, we just didn’t know when it would take place and are still uncertain how low it will go. This is now US Labor Day Weekend, Monday the markets will be closed, and the 4 day Week 37 predictions are all over the place. Enjoy the weekend, take a breather, celebrate appropriately, snf stay safe.

The Week 36 of 2020 tally YTD is:
The Stock Market Bull: 18 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 4 weeks

Microsoft(PBR17 $MSFT) $10 billion JEDI contract is re-affirmed by the US Dept of Defense as the best cloud solution value, Amazon(PBR2 $AMZN) says it will continue the appeal process, feels its AWS is by far superior. PR link.

Intercontinental Exchange(PBR442 $ICE) completes $11 billion acquisition of Pleasanton, CA based 1,700 employees cloud-based platform provider for the mortgage finance industry Ellie Mae. PR link.

Under Armour(PBR518 $UA) to close all UA Brand House and UA Factory House retail locations in the US for Thanksgiving (11/26/20), all will re-open to the public on Friday, 11/27/20. PR link.

Etsy, Teradyne and Catalent set to join S&P 500 on 09/21/20, will replace H&R Block(PBR808 $HRB), Coty(PBR561 $COTY) and Kohl’s(PBR159 $KSS), all of which will move to the S&P MidCap 400. PR link.

The US Dept of Labor says the August 2020 US Employed is at 147,288.000, July 2020 was at 143,532,000, June 2020 142,182,000, August 2019 157,895,000; August 2020 Unemployment Rate is at 8.4%, July 2020 was 10.2%, June 2020 11.1%, August 2019 3.7%. More details at the link. USDOL PR link.

***Thursday, September 3

The PBR1000 August 2020 Stocks & Commodities Snapshots Summary blog has been posted, includes US stock exchanges analysis, Top 5 Stock Performers in 4 categories. FYI, Tesla($TSLA) is on 3 of those lists. More details at The PBR1000 August Snapshots link.

Facebook(PBR47 $FB) is taking additional steps to help secure the integrity of the US elections by encouraging voting, connecting people to authoritative information, and reducing the risks of post-election confusion, includes not accepting new political ads the week before the election. PR link.

Tyson(PBR76 $TSN) partnering with Marathon Health to pilot seven health clinics near company production facilities, will give Tyson team members and their families easier access to high-quality healthcare and, in most cases, at no cost. PR link.

MGM Resorts(PBR241 $MGM) BetMGM service becomes first official sports betting partner for the Detroit Lions. PR link.

Electronic Arts(PBR495 $EA)’s Madden NFL 21 sell-through up nearly 20 percent year-over-year in its first week. PR link.

Roper Technologies(PBR508 $ROP) completes $5.35 billion acquisition of cloud-based property & casualty insurance software developer, with more than 20,000 agencies and 1,000 insurance carriers users, Vertafore. PR link.

The US Dept of Labor says the 2Q20 1st Revision US Business Sector Labor Output/Hour is at +8.9%, 1Q20 was at +0.0%, 4Q19 +1.4%, 2Q20 +2.2%. USDOL PR link.

The US Dept of Commerce/Census says the Preliminary July 2020 US Exports-Goods are at $115.5 billion, Services $52.6 billion, Total Exports $168.1 billion, Imports-Goods are at $196.4 billion, Services $35.3 billion, Total Imports $231.7 billion, July 2020 Total Deficit is at $63.6 billion, June 2020 was at $53.4 billion, May 2020 $57.8 billion, July 2019 $51.0 billion, July 2020 Total Deficit YTD(7 Months) is at $354.9 billion, July 2019 was at $348.3 billion. USDOC PR link.

The Institute for Supply Management says the August 2020 US Services PMI Index(>50 = growing) is at 56.9%, July 2020 was at 58.1%, June 2020 57.1%, August 2019 56.4%. “Respondents’ comments are mostly optimistic and industry specific about business conditions and the economy as businesses are starting to reopen. Industries that have not reopened remain concerned about the ongoing uncertainty. There is a challenge with capacity and logistics due to the pandemic and the impact on deliveries and order fulfillment…” ISM PR link.

The IHS Markit August 2020 US Composite PMI Index is at 54.6, July 2020 was at 50.3, June 2020 47.9, August 2019 50.7. “Uncertainty surrounding the pandemic’s future impact on the economy continued to weigh on confidence at manufacturers, contrasting with improved optimism among service providers.” IHS Markit PR link.

***Wednesday, September 2

The PBR25 Top Buy Stocks as of 09/01/20 has been emailed to Subscribers, with a generous average of a 33% targeted 12 month return from an average of 21 analyst recommendations per stock. More details at The PBR25 link.

Citigroup(PBR32 $C) China is first US bank to get a domestic fund custody licence from the China Securities Regulatory Commission, will allow it to hold securities for safekeeping on behalf of mutual funds and private funds domiciled in China. Reuters PR link.

Johnson & Johnson(PBR35 $JNJ)’s Janssen unit to discontinue the development of pimodivir, an investigational antiviral treatment for influenza A infection. PR link.

Intel(PBR45 $INTC) launches 11th Gen Intel® Core™ processors with Intel® Iris® Xe graphics, for thin-and-light laptops, delivering up to 2.7x faster content creation, more than 20% faster office productivity and more than 2x faster gaming plus streaming in real-world workflows over competitive products. PR link.

United Airlines(PBR74 $UAL) informs approximately 15,000 employees of need to furlough them, will take effect beginning 10/01/20 and continue through 11/20, employee participation in voluntary employment separation programs and company leave programs offered from agreements with certain unions reduced the number of employees subject to furloughs or job eliminations to approximately 16,370 from the approximately 38,000 employees who were notified beginning 07/08/20. PR link.

Schlumberger(PBR95 $SLB) to contribute its onshore hydraulic fracturing business in the US and Canada (“OneStim®”), including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty Oilfield Services(NYSE: LBRT), in exchange for a 37% equity interest in the combined company, to close in 4Q20. PR link.

Tesla(PBR118 $TSLA) shareholder Scotland based Baillie Gifford stake decreased by more than 19 million shares since the end of June, actual value of that stake increased by nearly 50% as prices more than doubled, reduces stake from 6.32% to 4.25%, goes from 2nd to 4th largest shareholder. WallStreetNation PR link.

Altice USA(PBR316 $ATUS) presents offer to acquire Cogeco for $7.8 billion in order to own Atlantic broadband. PR link.

Guess?(PBR800 $GES) in 2Q21 report says 95% of stores have reopened, majority of closed stores located primarily within interior malls in California. PR link.

ServiceMaster(PBR883 $SERV) to sell ServiceMaster Brands franchise business to Roark Capital for $1.553 billion, to close in 30-60 days, SERV to focus on its Terminix business. PR link.

Coty(PBR353 $COTY) CEO role now belongs to Sue Y. Nabi. PR link.

ADP says the Preliminary August 2020 US Change in Non-Farm Private Employment-Small Businesses is at 52,000, Mid-Sized 79,000, Large-Sized 298,000, Total 428,000, July 2020 was at 212,000, June 2020 4,485,000, August 2019 166,000. ADP PR link.

The US Dept of Commerce/Census says the Preliminary July 2020 US Manufacturing New Orders-Durables is at $231.1 billion, Non-Durables $235.0 billion, Total $466.1 billion, June 2020 was at $438.3 billion, May 2020 $411.7 billion, July 2019 $500.1 billion. USDOC PR link.

The US Federal Reserve releases its Beige Book for data through 08/24/20, summarizes the 12 US districts by saying “Economic activity increased among most Districts, but gains were generally modest and activity remained well below levels prior to the COVID-19 pandemic.” USFed PR link.

***Tuesday, September 1

The Stock Market Bull extends his winning streak to 5 months. US stock exchanges and business news monthly summary at the August 2020 link.

Walmart(PBR1 $WMT) launches Walmart+ subscription program, $98/year or $12.95/mo, Members will receive unlimited free delivery from stores, fuel discounts and access to tools that make shopping faster for families, to be available starting 09/15/20. PR link.

American Airlines(PBR68 $AAL) eliminates change fees for all domestic and short-haul international flying on Premium Cabin fares and most Main Cabin fares, all customers will have the ability to fly standby on earlier flights for the same destination on the same day at no charge starting 10/01/20. PR link.

Medtribuc(PBR103 $MDT) gets US FDA approval for Minimed™ 770G insulin pump system with smartphone connectivity for people with Type 1 diabetes, will be available to individuals as young as 2 years old. PR link.

Bristol-Myers Squibb(PBR108 $BMY) gets US FDA approval for Onureg® (azacitidine tablets), a new oral therapy, as continued treatment for adults in first remission with Acute Myeloid Leukemia. PR link.

Tesla(PBR118 $TSLA) to sell up to $5 billion of its common stock from time to time, through an “at-the-market” offering program. PR link.

Gilead Sciences(PBR134 $GILD) announces agreement with Jounce Therapeutics(Nasdaq: JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 program, GILD to make an $85 million up front & make a $35 million equity investment. PR link.

McDonald’s(PBR149 $MCD) being sued by over 50 black McDonald’s franchise owners for discrimination, McDonald’s denies allegations, defends its history with black franchisees. MarketWatch PR link.

Cognizant(PBR189 $CTSH) to acquire Chicago-based 10th Magnitude, a leading cloud specialist focused exclusively on the Microsoft Azure cloud computing platform, will be Cognizant’s sixth cloud-related acquisition in 2020, terms not disclosed. PR link.

DTE Energy(PBR246 $DTE) files plan with Michigan Public Service Commission to add enough solar energy generation to power 120,000 homes by 2022, DTE would increase its solar generation capacity by nearly ten times over the next two years. PR link.

NVIDIA(PBR285 $NVDA) unveils GeForce RTX 3090, 3080 and 3070 GPUs, offer up to 2x the performance and 1.9x the power efficiency over the previous Turing-based generation, take advantage of the second generation of NVIDIA RTX™ — the world’s most powerful PC gaming platform — to provide unprecedented levels of real-time ray tracing and AI gaming. PR link.

Alaska Air(PBR347 $ALK) eliminates change fees permanently, applies to all tickets, except for Saver fares, previously charged $125. PR link.

Fortive(PBR405 $FTV) to separate Vontier Corporation through a spin-off of 80.1% of the outstanding shares of Vontier common stock to Fortive shareholders, will result in two independent public companies, to close in 4Q20. PR link.

Weyerhaeuser(PBR441 $WY) is purchasing approximately 85,000 acres of timberlands in mid-coastal Oregon in one transaction, and selling 149,000 acres of timberlands in southern Oregon in a second transaction, net cost is approximately $40 million in cash. PR link.

GameStop(PBR448 $GME) SEC filing shows that Chewy(PBR545) co-founder and former CEO now has a 9.6% stake in GME. PR link.

AMC Entertainment(PBR502 $AMC) to have 70% of its US circuit theatres open by 09/04/20 with around 140 opening this week, including its first ones in California. PR link.

Steelcase(PBR649 $SCS) reducing workforce through early retirements, voluntary separations and involuntary separations of approximately 300 salaried employees, represents around 8% of salaried workforce in the Americas and Corporate, as well as early retirements of approximately 160 hourly employees, also 65 salaried employees have volunteered for part-time roles or temporary layoffs for periods ranging from 3-6 months. PR link.

Hawaiian Airlines(PBR785 $HA) informs approximately 414 U.S.-based employees in its Air Line Pilots Association (“ALPA”) and Association of Flight Attendants (“AFA”) work groups of its intent to implement a workforce reduction plan impacting them and an additional 28 employees in the ALPA work group who will receive individual notices at a later date. PR link.

Eastman Kodak(PBR983 $KODK) SEC 13G filing shows that DE Shaw owns nearly 4 million shares, 5.2% of shares, in KODK. PR link.

Danaher(PBR173 $DHR) appoints Rainer M. Blair as President/CEO and a member of the Board effective today as planned, succeeds Thomas Joyce who has retired and remains a senior advisor through 02/28/21. PR link.

The Stock Market Bull extends his winning streak to 5 months. US stock exchanges and business news monthly summary at the August 2020 link.

The US Dept of Commerce/Census says the Preliminary July 2020 Total Construction Spending Annual Rate-Residential is at $555.5 billion, Non-Residential $809.1 billion, Total $1,364.6 billion, June 2020 was at $1,362.8 billion, May 2020 $1,369.4 billion, July 2019 $1,366.0 billion. USDOC PR link.

The Institute for Supply Management says the Preliminary August 2020 Manufacturers PMI Index(>50 economy expanding) is at 56.0%, July 2020 was at 54.2%, June 2020 52.6%, August 2019 49.1%. “Panel sentiment was generally optimistic (1.4 positive comments for every cautious comment), though to a lesser degree compared to July.” ISM PR link.

IHS Markit says the August 2020 US Manufacturing PMI Index is at 53.1, July 2020 was at 50.9, June 2020 49.8, August 2019 50.3. “Key to the upturn was a jump in new export orders, which rose at the fastest rate for four years, reflecting improving demand in many foreign markets, and benefitting larger companies in particular. Disappointingly, new orders and export sales at smaller manufacturers continued to fall, highlighting an unbalanced recovery in favour of larger firms.” IHS Markit PR link.

The PurdueU/CME Group August 2020 US Ag Economy Barometer Composite Index is at 144, July 2020 was at 118, June 2020 117, August 2019 124. “The improvement in farmer sentiment this month was underpinned by expectations for excellent crop yields, as indicated in USDA’s August Crop Production report, and nearly across the board rallies in key ag commodity prices that took place in August.” PurdueU/CME Group PR link.

***Monday, August 31

The PBRMarketTools US Stock Exchanges Recap for August 2020 ending 08/31/20:

DJIA ends August 2020 at 28,430.05, -0.78% from last Friday, +7.57% MTD, +10.14% QTD, -0.38% YTD, -3.79% from record 29,551.42 set 02/12/20.

NASDAQ ends August 2020 at record 11,775.46, +0.68% from last Friday, +9.59% MTD, +17.07% QTD, +31.24% YTD, +0.00% from record 11,775.46 set 08/31/20.

SPX ends August 2020 at 3,500.31, -0.22% from last Friday, +7.01% MTD, +12.90% QTD, +12.90% YTD, -0.22% from record 3,508.01 set 08/28/20.

The 8th Month of 2020 tally YTD is:
The Stock Market Bull: 5 months
The Stock Market Bear: 2 months
Mixed Results: 1 month

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PBRMarketTools.com provides news, data, and analysis on 1,000 of the largest publicly held companies with primary operations in the US. The data and analysis is included in The PBR1000 Monthly Snapshots, an MS-Excel workbook with 15 snapshot worksheets, 28 rankings, and over 200 fields of data and information on each company. Click here to find out more! 

PBRMarketTools.com is an independent business intelligence and analytics service. It is not, nor is it affiliated with, any financial advisory or stock brokerage or related firms.

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