By Larry C. Paxton
With the end of March 2015 the 1st Quarter is in the books and it is with mixed results. The economy continues to show slow but steady progress, oil and key commodities prices were pretty stable, and reflected at the gas pump, which seems to have lead to higher consumer optimism about the future. The Federal Reserve Board continues to show restraint on raising interest rates, and justifiably so, based on their careful analysis. However, any whisper of an increase in interest rate creates a lot of volatility in the markets, with wide swings on several days throughout March. On the international scene the European Union seems focused on trying to find a resolution with Greece and its obligations, Ukraine is rarely in the news. China is trying to bolster its own economy which is still growing, but certainly not at the rapid pace of years past. The capturing the headlines towards the end of March were the nuclear power countries negotiating with Iran to delay or end its development of nuclear bomb material. So, there are some big question marks as we enter the second quarter, and these can result in huge opportunities or major setbacks, but will probably be somewhere in between. Based on results so far this year, 2015 is still very much under construction.
Following are The PBR1000 and economic news items of note for March 2015 starting with the last active day.
Tuesday, March 31:
DJIA closes month at 17,776.12, +0.36% from last Friday, -1.97% MTD, -0.26% QTD/YTD.
NASDAQ closes month at 4,900.89, +0.20% from last Friday, -1.26% MTD, +3.48% QTD/YTD.
SPX closes month at 2,067.89, +0.33% from last Friday, -1.74% MTD, +0.44% QTD/YTD.
IBM(PBR24) to invest $3 billion over 4 years to establish a new Internet of Things unit. IBM PR link.
Comcast(PBR44) & CFO Michael Angelakis to invest $4.1 billion to create new investment/operating global company. New CFO search starting. CMCSA PR link.
Arrow Electronics(PBR129) completes acquisition of 800 partners government sales specialist immixGroup. ARW PR link.
Charter Communications(PBR320) to acquire 6th largest US cable operator Bright House Networks for $10.4 billion. CHTR PR link.
CBRE Group(PBR346) to acquire Johnson Controls(PBR65) Global Workplace Solutions unit for $1.475 billion cash. CBG PR link.
RadioShack(PBR619) gets okay from bankruptcy judge to sell stores to hedge fund Standard General. Associated Press article PR link.
GNC(PBR739) selects agencies Consigliere, CROSSMEDIA, & 22squared for branding & marketing efforts. GNC PR link.
Macerich(PBR1090) rejects new $95.50/share, $23.5 billion unsolicited offer from Simon Property(PBR455). MAC PR link.
Chevron(PBR3) Vice Chairman & EVP Upstream George Kirkland to retire 06/15/15, Jay Johnson to become EVP Upstream. CVX PR link.
Cameron Intl(PBR269) appoints Justin Rounce as VP Marketing & Chief Technology Officer, reports to Chairman/CEO Jack Moore. CAM PR link.
Campbell Soup(PBR315) promotes Ed Carolan to SVP in new Integrated Global Services unit. CPB PR link.
Equifax(PBR817) promotes Trey Loughran to Chief Marketing Officer, succeeds Paul Springman who is retiring after 24 years. EFX PR link.
The US Dept of Commerce reports that the 4th Quarter 2014 US Net International Position was assets $24.7 billion, liabilities $31.6 billion, deficit of $6.9 billion. USDOC PR link.
Monday, March 30:
UnitedHealthcare(PBR14) OptumRx pharmacy care services unit to acquire pharmacy benefit management company Catamaran(PBR189) for $61.50/share, $12.8 billion. UNH PR link.
Archer-Daniels-Midland(PBR28) to acquire private Belgium based edible oils bottler/distributor AOR NV. ADM PR link.
Best Buy(PBR67) Canadian unit to close Future Shops, consolidate to 192 Best Buy locations, layoff 1,500 employees. BBY PR link.
Alcoa(PBR122) to curtail smelting capacity in Brazil by 04/15/15. AA PR link.
Avis Budget(PBR326) marks 100 million rental days in N America over past 12 months. CAR PR link.
Fortune Brands(PBR551) to acquire kitchen/bathroom cabinetry manufacturer Norcraft for $25.50/share, $600 million. FBHS PR link.
Perrigo(PBR564) completes buy of Belgium based over-the-counter healthcare products company Omega Pharma NV for $4.5 billion cash & equity. PRGO PR link.
American Tower(PBR625) completes acquisition of exclusive rights to 11,448 wireless communications sites from Verizon(PBR15) for $5 billion cash. AMT PR link.
GNC(PBR739) herbal products are in full compliance with FDA regulations, reaches agreement with the NY Attorney General for further testing. GNC PR link.
Tesla(PBR887) CEO Elon Musk tweets that there will be a major announcement on 04/30/15 regarding a new non-automotive product.
Enterprise Products(PBR56) announces CEO Mike Creel to retire 12/31/15; COO Jim Teague to become CEO; Fowler, Bulawa and Nelly promoted. EPD PR link.
Yahoo!(PBR500) hires Bryan Power as SVP Human Resources, reports to CEO Marissa Mayer. YHOO PR link.
TD Ameritrade(PBR651) CFO Bill Gerber retiring, hires Steve Boyle to be CFO in July. AMTD PR link.
New York Times(PBR982) promotes Kinsey Wilson EVP Product & Technology, reports to President/CEO Mark Thompson & Executive Editor Dean Baquet. NYT PR link.
The US Dept of Commerce reports that the February US Annual Personal Income was at $15.130 trillion, +3.9% over January, savings rate was at 5.8% of disposable income, was 5.5% in January. USDOC PR link.
Friday, March 27:
DJIA closes week at 17,712.66, -2.29% from last Friday, -2.32% MTD, -0.62% QTD/YTD.
NASDAQ closes week at 4,891.22, -2.69% from last Friday, -1.46% MTD, +3.28% QTD/YTD.
SPX closes week at 2,061.02, -2.23% from last Friday, -2.07% MTD, +0.10% QTD/YTD.
Chevron(PBR3) to sell off its 50% share in Caltex Australia. CVX PR link.
Johnson & Johnson(PBR39) Ethicon unit gets agreement to collaborate with Google(PBR46) on surgical robotics. JNJ PR link.
Dow Chemical(PBR48) to separate much of its chlor-alkali business which will merge with Olin Corp(PBR769) in $5 billion deal. DOW PR link.
Visteon(PBR338) receives antitrust approvals for sale of its 70% interest in S. Korea based 15,500 employee Halla Visteon Climate Control to Hahn & Co for $3.6 billion. VC PR link.
Dynegy(PBR1000) gets regulatory approval to buy 12,500 MW of coal & gas generation from Duke Energy(PBR111) & Energy Capital Partners(NR) for $6.25 billion. DYN PR link.
Davita Healthcare(PBR312) announces CFO Garry Menzel leaving, James Hilger named Interim CFO. DVA PR link.
Ascena Retail(PBR493) hires Brian Lynch as President/CEO of its Justice tween specialty retail unit. ASNA PR link.
QuikSilver(PBR925) President Pierre Agnes now CEO, Greg Healey promoted to President, founder Bob McKnight appointed Chairman. ZQK PR link.
Thursday, March 26:
Goodyear Tire(PBR137) has established its first Chinese development center in Pulandian. GT PR link.
Medtronic(PBR161) completes acquisition of minimally invasive hearing implant provider Sophono. MDT PR link.
Carnival Corp(PBR176) to add 9 new generation cruise ships over 4 year period starting in 2019. CCL PR link.
Dover(PBR295) selling its precision-engineered components Sargeant Aerospace & Defense unit to RBC Bearings(NASDAQ: ROLL) for $500 million. DOV PR link.
AAR Corp(PBR882) completes the sale of Telair Cargo Group to TransDigm(PBR798) for $725 million cash. AIR PR link.
Calumet Specialty(PBR443) promotes F William Grube to Executive Vice Chairman, hires Bill Hatch as Interim CEO, starting 04/01/15. CLMT PR link.
FreddieMac(PBR33) says 30 year fixed mortgage rates averaged 3.69% with 0.6 points in the last week. FreddieMac PR link.
Wednesday, March 25:
Comcast(PBR44) EVP/Chief Diversity Officer David Cohen says merger with Time Warner Cable(PBR125) moving to mid 2015 because of regulatory issues. CMCSA PR link.
Kraft Foods(PBR145) to be acquired by HJ Heinz with 51% ownership, to be Kraft Heinz, special $16.50/share dividend, $10 billion, to Kraft stockholders. KRFT PR link.
Brown-Forman(PBR575) increases share buyback program by $1 billion. BFB PR link.
Global Payments(PBR756) acquires European based Realex Payments for $110 million. GPN PR link.
Tuesday, March 24:
Merck(PBR63) adds $10 billion, total $11.7 billion, for shares buyback program. MRK PR link.
Hertz(PBR249) provides explanation for failure to file 10-K with SEC, has until 09/17/15. HTZ PR link.
Ross Stores(PBR260) to do 2:1 stock split on 06/11/15. ROST PR link.
AutoZone(PBR278) adds $750 billion to its ongoing shares buyback program. AZO PR link.
Group 1 Automotive(PBR291) has acquired $80 million/yr Dallas/Ft Worth area DFW Audi. GPI PR link.
Carlyle Group(PBR528) to acquire majority stake in 200 client $100 billion in assets Conifer Financial Services. CG PR link.
Lexmark Intl(PBR598) to acquire software developer Kofax(NASDAQ: KFX) for $11/share, $1 billion. LXK PR link.
Alliance One Intl(PBR804) responds to compliance issue by NYSE regarding strategies to get stock price at or above $1.00. AOI PR link.
Google(PBR46) hires Morgan Stanley(PBR81) CFO Ruth Porat as CFO, effective 05/26/15. GOOG PR link.
The US Dept of Labor reports that the February current average earnings/hr is $24.78, +0.1% from January, +2.0% from February, 2014 USDOL PR link.
The US Dept of Labor reports that the February Consumer Price Index-Urban was up 0.2% over January, 0.0% for the last 12 months. USDOL PR link.
The US Dept of HUD reports that February sales of new single family homes were at a 539,000 annual rate, +7.8% over January, +24.8% over February, 2014. HUD PR link.
Monday, March 23:
Humana(PBR71) to sell wholly owned subsidiary Concentra to a joint venture of Select Medical & Welsh Carson for $1.055 billion cash. HUM PR link.
American Electric Power(PBR177) to review strategic alternatives for its barge transportation business. AEP PR link.
Tenet Healthcare(PBR223) to own 50.1% of a joint venture with United Surgical to form largest US ambulatory surgery provider valued at $2.6 billion. THC PR link.
Tenet Healthcare(PBR223) to acquire UK based 9 hospital/clinic facilities Aspen Healthcare for $215 million cash. THC PR link.
Biogen Idec(PBR358) changes name to Biogen, keeps stock symbol. BIIB PR link.
ON Semiconductor(PBR710) changing its NASDAQ stock symbol from ONNN to ON on 04/06/15. ONNN PR link.
Carnival Corp(PBR176) promotes James Chedgy to VP, Global Financial Planning & Analysis, reports to Treasurer Josh Weinstein. CCL PR link.
The National Association of Realtors says February Existing Home Sales were at a 4.88 million annual rate, +1.2% over January, +4.7% over February, 2014. NAR PR link.
The White House issues a statement marking the 5th year anniversary of the signing of The Affordable Care Act, aka Obamacare. WH PR link.
Friday, March 20:
DJIA closes week at 18,127.65, +2.13% from last Friday, -0.03% MTD, +1.71% QTD/YTD.
NASDAQ closes week at 5,026.42, +3.17% from last Friday, +1.27% MTD, +6.13% QTD/YTD.
SPX closes week at 2,108.10, +2.66% from last Friday, 0.17% MTD, +2.39% QTD/YTD.
RadioShack(PBR619) notifies SEC of its intent to de-list from the NYSE on 03/31/15. RSHCQ PR link.
Macerich(PBR1090) confirms new $95.50/share, $23.5 billion unsolicited offer from Simon Property(PBR455). MAC PR link.
AVX(PBR1003) Chairman/CEO John Gilbertson resigning effective 03/31/15, John Sarvis to be promoted to CEO on 04/01/15. AVX PR link.
BOK Financial(PBR1023) announces resignation of COO Dan Ellinor, Stacy Kymes promoted to new position of EVP Corporate Banking. BOKF PR link.
Thursday, March 19:
American Express(PBR86) gets exclusive multi-year co-brand deal with Charles Schwab(PBR442). AMEX article link.
SeaWorld(PBR1002) hires Joel Manby to be CEO effective 04/07/15, David D’Alessandro to remain Chairman. SEAS article link.
FreddieMac(PBR33) says the 30 Year Fixed Mortgage Rate averaged 3.78% with 0.6 point for week ending 03/19/15, was 4.32% year ago. Freddie Mac PR link.
Wednesday, March 18:
Target(PBR38) employees to receive $9 minimum wage next month UPI article link.
Starbucks(PBR164) reaffirms 7 strategies to grow market cap to $100 billion, to test delivery services. SBUX PR link.
Starbucks(PBR164) announces 2:1 stock split after 04/08/15 closing. SBUX PR link.
Ocwen Financial(PBR881) to sell $9.6 billion portfolio of mortgage servicing rights to Green Tree(NR). OCN PR link.
ITT Educational(PBR1078) provides update on failure to file required 10-K report to SEC. ESI PR link.
TreeHouse Foods(PBR819) promotes Christopher Sliva to EVP/COO. THS PR link.
Tuesday, March 17:
Happy St. Patrick’s Day!
Actavis(PBR297) completes $70.5 billion acquisition of Allergan(PBR392), combined company expects $23 billion in 2015 revenues. ACT PR link.
Becton Dickinson(PBR305) completes $12.2 billion acquisition of CareFusion(PBR580). BDX PR link.
Charter Communications(PBR320) shareholders approve issuance of shares in transactions with Comcast(PBR44). CHTR PR link.
Brookdale Senior Living(PBR692) & HCP(PBR866) to acquire 35 private pay senior living communities from Chartwell Retirement Residences for $849 million. HCP PR link.
Greenbrier Cos(PBR839) gets $1.09 billion in orders for 10,100 railcars. GBX PR link.
Equinix(PBR852) to become an S&P 500 component after close on 03/20/15. EQIX PR link.
Macerich(PBR1090) board rejects Simon Property(PBR455) $91/share, $22.4 billion unsolicited offer, feels it was undervalued. MAC PR link.
Groupon(PBR750) hires Carol Campagnolo as SVP Human Resources & Jay Sullivan as SVP Consumer Product. GRPN PR link.
The Dept of HUD reports that preliminary February New Housing Permits were at a 1,092,000 annual rate, +3% over January, +7.7% over February 2014. HUD PR link.
Monday, March 16:
The PBR1000 February Snapshots, 15 analytical reports on 1,081 public companies in Excel format, has been released.
General Electric(PBR9) selling its GE Capital Australia & New Zealand Consumer Lending Business for $6 billion enterprise value to a consortium of investors that includes KKR(PBR272). GE PR link.
Henry Schein(PBR276) to become an S&P 500 component on 03/18/15. HSIC PR link.
Blackstone Group(PBR374) to acquire Chicago’s 3.8 million sf, 110 stories tall, 2nd tallest office building in the US, Willis Tower, terms not disclosed. BX PR link.
McGraw Hill(PBR482) S&P500 unit to add American Airlines Group(PBR103) to its index, will replace Allergan(PBR392) which is being acquired by Actavis(PBR297). MHFI PR link.
Babcock & Wilcox(PBR637) files registration statement to form an independent public spinoff of its power generation business. BWC PR link.
Diebold(PBR696) acquires Canada based ATM software developer 200 employee Phoenix Interactive. DBD PR link.
A. Schulman(PBR787) to acquire specialty engineered plastics company Citadel Plastics for $800 million. SHLM PR link.
Endo Health(PBR741) withdraws its $175/share, $11 billion cash & stock offer for Salix Pharmaceuticals(SLXP) because of competing Valeant bid. ENDP PR link.
Coca-Cola Enterprises(PBR317) EVP/Supply Chain Bill Douglas retiring, Ronald Lewis to rejoin as SVP/Supply Chain. CCE PR link.
Visteon(PBR338) President/CEO Timothy Leuliette to step down by end of 2015, search firm retained. VC PR link.
Spectrum Brands(PBR529) promotes COO Andreas Rouve to CEO, to succeed retiring Dave Lumly. SPB PR link.
Friday, March 13:
DJIA closes week at 17,749.31, -0.60% from last Friday, -2.11% MTD, -0.41% QTD/YTD.
NASDAQ closes week at 4,871.76, -1.13% from last Friday, -1.85% MTD, +2.87% QTD/YTD.
SPX closes week at 2,053.40, -0.86% from last Friday, -2.43% MTD, -0.27% QTD/YTD.
MGM Resorts(PBR270) promotes Nik Rytterstrom to General Manager of the Las Vegas Luxor Resort; Renee West, president of Luxor & Excalibur Resorts, to retire on 04/24/15. MGM PR link.
Facebook(PBR327) acquires shopping site TheFind. TheFind PR link.
The US Dept of Labor reports that private industry employers spent an average of $31.32/hr worked for employee compensation in December 2014, $46.50/hr for union workers. USDOL PR link.
The US Dept of Labor reports that the February Producer Price Index for final demand fell 0.5%, decreased 0.6% for the 12 months ended in February. USDOL PR link.
Thursday, March 12:
Amazon(PBR37) launches Amazon Exclusives store featuring new innovative products from popular up and coming brands, including some from TV show “Shark Tank.” AMZN PR link.
Dollar General(PBR153) to open new 730 stores in 2015, move/remodel 875 stores, has $1.2 billion available for shares buyback. DG PR link.
Gannett(PBR458) on track to spin-off new publicly held broadcasting/digital company in mid 2015. GCI PR link.
RadioShack(PBR619) in 8-K filing states that since it is in Chapter 11 stockholders should not expect to receive any recovery funds. RSHCQ PR link.
Children’s Place Retail(PBR934) in outlook says it expects to close 200 stores in 2013-2017. PLCE PR link.
Dollar General(PBR153) EVP/CFO David Tehle resigning effective 07/01/15, internal/external search starts. DG PR link.
FreddieMac(PBR33) reports that 30 year fixed mortgage rates averaged 3.86% with 0.6 point for week ending 03/12/15, 3.75% last week, 4.37% a year ago. FreddieMac PR link.
The US Dept of Commerce reports that advance estimate of February retail/food services sales were $437.0 billion, -0.6% from January, +1.7% above February 2014. USDOC PR link.
The US Dept of Treasury says February US government receipts were $139 billion, outlays $332 billion, deficit $192 billion, deficit YTD(5 mos) is $387 billion. Treasury PR link.
Wednesday, March 11:
United Technologies(PBR45) exploring strategic alternatives for its Sikorsky helicopter unit, including possible public spin-off. UTX PR link.
The US Federal Trade Commission charges DIRECTV(PBR90) with deceptively advertising the cost of its satellite television service. FTC PR link.
KKR(PBR272) to acquire Air Medical Group which handles 75,000 medical emergencies annually. KKR PR link.
PetSmart(PBR359) acquisition by a consortium led by pan-Euopean buyout investor BC Partners for $83/share, $8.7 billion cash is completed, being delisted from NASDAQ. PETM PR link.
Ingredion(PBR371) completes acquisition of specialty ingredients provider Penford Corp for $340 million. INGR PR link.
Endo Health(PBR741) makes unsolicited acquisition offer to Salix Phamaceuticals(SLXP) for $175/share cash & stock, $11 billion. ENDP PR link.
The US Federal Reserve Board completes evaluations of “stress tests”(CCAR) of major financial institutions. FRB PR link.
Because of the US Federal Reserve Board CCAR results the following organizations authorize shares buyback programs:
American Express(PBR86) up to $6.6 billion
Bank of America(PBR22) $4 billion
Bank of New York Mellon up to $3.1 billion
Citigroup(PBR26) up to $7.8 billion
Discover Financial(PBR281) up to $2.2 billion
JPMorgan Chase(PBR20) up to $6.4 billion
PNC Financial(PBR171) up to $2.875 billion
State Street(PBR259) up to $1.8 billion
US Bancorp(PBR131) $3 billion
FreddieMac(PBR33) in March US Economic/Housing Market Outlook says 2015 to be best year for home sales since 2007. FreddieMac PR link.
The US Dept of Labor reports that private industry employers spent an average of $31.32/hour worked in December 2014, $21.72/hour worked, $9.60/hour in benefits. USDOL PR link.
Tuesday, March 10:
Express Scripts(PBR21) reports that 2014 US prescription drug spending increased 13.1%, driven by Hepatitis C & compounded medications. ESRX PR link.
Target(PBR38) files 8-K announcing layoff of 1,700, to save $100 million. TGT PR link.
Actavis(PBR297) $66 billion acquisition of Allergan(PBR392) approved at both shareholders meetings, expected to close in 2-4 weeks. AGN PR link.
The Pantry(PBR331) shareholders approve acquisition by Quebec, Canada based Alimentation Couche-Tard for $36.75/share, $1.7 billion deal. PTRY PR link.
First Solar(PBR628) & SunPower(PBR772) forming 8point3 Energy Partners limited partnership to own/operate a portfolio of selected solar generation assets, IPO paperwork filed. FSLR PR link.
Sprouts Farmers Market(PBR789) announces closing of sale of all remaining shares held by affiliates of Apollo Global Management(PBR531). SFM PR link.
AmSurg(PBR1077) physician services division, Sheridan, completes acquisition of 50+ radiologists practice Radiology Associates of Hollywood, FL. AMSG PR link.
Google(PBR46) files 8-K regarding CFO Patrick Pichette’s retirement within next 6 months. GOOG PR link.
The US Dept of Labor reports that there were 5.0 million job openings on the last business day of January, little changed from December. Hires decreased to 5.0 million and separations were little changed at 4.8 million in January. USDOL PR link.
The US Dept of Commerce reports that January merchant wholesalers sales were $433.7 billion, down 3.1% from December, down 1.0% from the January 2014 level. USDOCL PR link.
Monday, March 9:
Apple(PBR4) announces Apple Watch, to be available 04/24/15 in 9 countries, retails for $349 to $10,000. AAPL PR link.
General Motors(PBR7) authorizes an initial $5 billion shares buyback program, targets $20 billion cash balance. GM PR link.
Macy’s(PBR97) completes acquisition of 60 locations luxury beauty products & spa services retailer Bluemercury for $210 million cash. M PR link.
QUALCOMM(PBR104) authorizes $15 billion shares buyback program, will use $10 billion over next 12 months. QCOM PR link.
Alcoa(PBR122) to acquire titanium & specialty metal products manufacturer RTI(NYSE: RTI) in a $1.5 billion stock deal. AA PR link.
Barnes & Noble(PBR388) investing in college study materials provider Flashnotes.com. BKS PR link.
Harbinger Group(PBR412) changes name to HRG Group; president Omar Asali adds CEO title. HRG PR link.
Simon Property(PBR455) proposes to buy fellow mall developer/manager Macerich(PBR1090) for $91/share, $22.4 billion, which includes $6.4 billion of debt. SPG PR link.
Gaming & Leisure Properties(NASDAQ: GLPI makes unsolicited $4.1 billion offer to buy Pinnacle Entertainment(PBR993) assets. GLPI PR link.
The US Congressional Budget Office estimates a deficit of 2.7% of GDP in 2015, 2.4% the next 3 yrs, then rise. By 2025 public debt is estimated to be at 77% of GDP. CBO PR link.
Friday, March 6:
DJIA closes week at 17,856.78, -1.52% from last Friday & MTD, +0.19% QTD & YTD.
NASDAQ closes week at 4,927.37, -0.73% from last Friday & MTD, +4.04% QTD & YTD.
SPX closes week at 2,071.26, -1.58% from last Friday & MTD, +0.60% QTD & YTD.
Dow Jones announces that Apple(PBR4) will replace AT&T(PBR12) on the DJIA on 03/19/15. DJ PR link.
Alcoa(PBR122) doing strategic review of smelting & refining capacity worldwide for possible divestiture. AA PR link.
PetSmart(PBR359) shareholders approve acquisition by a consortium led by pan-Euopean buyout investor BC Partners for $83/share, $8.7 billion cash, expected to close on 03/11/15. PETM PR link.
Orbital ATK(PBR494) designed & built Dawn spacecraft now orbiting dwarf planet Ceres. OA PR link.
NII Holdings(PBR495) announces a new restructuring plan to emerge from Chapter 11. NIHDQ PR link.
The US Food & Drug Administration approves its first biosimilar medication for use in the US, Sandoz’s Zarxio. FDA PR link.
The US Dept of Labor reports that Total Nonfarm Payroll Employment was up by 295,000 in February, the Unemployment Rate is at 5.5%. USDOL PR link.
The US Federal Reserve Board reports that January Consumer Credit increased at an annual rate of 4.25%, revolving credit -1.5%, nonrevolving credit +6.25%. FRB PR link.
The US Dept of Commerce reports that the January International Trade of Goods and Services deficit was $41.8 billion, down $3.8 billion from December. USDOC PR link.
Thursday, March 5:
3M(PBR92) releases revised paper policy providing leading-edge protection for forests, endangered species, and forest communities worldwide. MMM PR link.
SunEdison(PBR888) acquires energy storage operating projects, pipeline, and project origination team from Solar Grid Storage. SUNE PR link.
Airgas(PBR463) to promote SVP/HR Pamela Claypool to President, Airgas North Division up retirement of Shaun Powers in August, will report to Andrew Cichocki, President, Airgas USA. ARG PR link.
Clearwater Paper(PBR913) VP of Supply Chain Patrick Burke to become President, Consumer Products Division, upon retirement of Thomas Colgrove at end of the quarter. CLW PR link.
Centrus Energy(PBR1035) hires Daniel Poneman, former US deputy secretary of energy, as president/CEO. LEU PR link.
The US Dept of Labor reports that the 4th quarter 2014 Nonfarm Business Sector Labor Productivity decreased at a 2.2 percent annual rate, output increased 2.6 percent and hours worked increased 4.9 percent. USDOL PR link.
The US Dept of Commerce reports that New Orders for Manufactured Goods in January, down 6 consecutive months, was -$0.9 billion, or -0.2%, to $470.0 billion. USDOC PR link.
The PBR1000 Index for February is 298,638.22, +3.24% over January, -0.90% QTD/YTD, +21.46% over 12/31/13.
Wednesday, March 4:
McDonald’s(PBR96) USA announces new antibiotics policy & menu sourcing initiatives. MCD PR link.
AbbVie(PBR142) to acquire hematology oncology Imbruvica developer Pharmacyclics(NASDAQ: PCYC) for $21 billion. ABBV PR link.
Bristol-Myers Squibb(PBR165) gets FDA approval for lung cancer treatment Opdivo. BMY PR link.
Baxter Intl(PBR179) acquires German based private autoimmune& allergic disease treatment biopharma company SuperMol for $225 million. BAX PR link.
HanesBrands(PBR505) previously announced 4:1 stock split is effective today. HBI PR link.
Brocade Communication(PBR836) completes acquisition of Riverbed Technology’s(PBR1085) SteelApp assets. BRCD PR link.
Alcoa(PBR122) hires José Aurélio Drummond as President of Alcoa Latin America, effective 03/09/15. AA PR link.
AECOM(PBR309) CEO Michael Burke adds Chairman title, effective 03/04/15. ACM PR link.
ADP(PBR220) reports that the February private sector jobs increased by 212,000, down 38,000 from January. ADP PR link.
The US Federal Reserve Board releases latest Beige Book, reports moderate economic growth in most districts. FRB PR link.
Tuesday, March 3:
Citigroup(PBR26) selling its OneMain credit service to Springleaf(NYSE: LEAF) for $4.25 billion. C PR link.
Target(PBR38) to cut $2 billion in costs over next 2 years, grow digital channel by 40%/year, open stores with more flexible formats. TGT PR link.
Best Buy(PBR67) resumes authorized $5 billion shares buyback program, to use $1 billion over next 3 years. BBY PR link.
Alcoa(PBR122) completes acquisition of private German titanium products $100 million/yr, 600 employees, company TITAL. AA PR link.
Stryker Corp(PBR288) authorizes additional $2 billion shares buyback program to $583 million currently available. SYK PR link.
Arthur J Gallagher(PBR647) acquires NationAir Aviation Insurance of W Chicago, IL. AJG PR link.
Frontier Communications(PBR497) Pres/COO Daniel McCarthy to become Pres/CEO on 04/03/15, CEO Maggie Wilderotter to become Exec Chair. FTR PR link.
Hubbell(PBR646) hires Maria Lee as VP, Corporate Strategy & Investor Relations, reports to SVP/CFO William Sperry. HUBB PR link.
Brinker Intl(PBR688) hires Tom Edwards, Jr, as EVP/CFO, effective 03/16/15. EAT PR link.
Other News Highlights: House of Representatives passes the Homeland Security Funding bill passed by the Senate; Israeli Prime Minister Benjamin Netanyahu warns US of Iran nuclear threats in historic joint meeting of Congress.
Monday, March 2:
Costco(PBR18) enters multi-year co-brand credit card agreement with Citigroup(PBR26) & co-brand incentive agreement with VISA(PBR212). COST PR link.
Cardinal Health(PBR27) to acquire Johnson & Johnson’s(PBR39) cardiac/endovascular medical products unit Cordis for $1.944 billion cash. CAH PR link.
Arrow Electronics(PBR129) to acquire 800 partners government sales specialist immixGroup. ARW PR link.
eBay’s(PBR170) PayPal unit is acquiring mobile payments provider Paydiant for $280 million. EBAY PR link.
Avis Budget(PBR326) to acquire the largest independent Italian car rental company The Maggiore Group for $170 million. CAR PR link.
Boston Scientific(PBR349) to acquire urology portfolio from Endo Intl’s(PBR741) American Medical Systems unit for up to $1.65 billion cash. BSX PR link.
Arthur J Gallagher(PBR647) acquires NJ based wholesale brokers Excel Insurance Services & Metcom Excess. AJG PR link.
Heartland Payment Systems(PBR859) acquires private national payroll service provider Payroll 1. HPY PR link.
Lumber Liquidators(PBR1093) responds to “60 Minutes” episode regarding product safety issues. LL PR link.
Archer-Daniels-Midland(PBR28) makes several leadership appts, including div presidents, SVP, & CTO. ADM PR link.
AECOM(PBR309) hires Carla Christofferson as EVP, General Counsel. ACM PR link.
Axiall(PBR503) announces departure of George Biltz, Chief Strategy Officer, to take a CEO position in another company. AXLL PR link.
DeVry(PBR906) hires Lisa Sodeika as SVP External Relations, succeeds Sharon Thomas Parrott who is retiring. DV PR link.
The US Dept of Commerce reports that January Personal Income was at a $15.062 trillion annual rate, up 0.3% over December. USDOC PR link.
The US Dept of Commerce reports that January Construction Spending was at a $971.4 billion annual rate, -1.1% from December, +1.8% from January 2014. USDOC PR link.
Sunday, March 1:
The PBR1000: The February 2015 Breaking News Recap is available. Click here for the blog post.
Netherlands based NXP Semiconductor (NASDAQ: NXPI) & Freescale Semiconductor (PBR548) agree to merger in $11.8 billion deal, to close 2nd half of 2015. FSL PR link.
(The PBR1000 is the premiere comparative data and reporting service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate over $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 advisers, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Order page.)
(Photo courtesy of freedigitalphotos.net, Supertrooper.)