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The PBR1000 March 2020 Stocks & Commodities Snapshots

April 3, 2020 by admin

March 2020 The PBR1000: Coronavirus Gets Another Big Win

Coronavirus is now The Stock Market Bear’s best buddy, having erased all major stock exchanges gains for the past year and more.

By Larry C. Paxton

The PBRMarketTools US Stock Exchanges Recap for the month of March ending 03/31/20:
DJIA ends March at 21,917.16, +1.30% from last Friday, -13.74% MTD, -23.20% QTD/YTD, -25.83% from record 29,551.42 set 02/12/20.

NASDAQ ends March at 7,700.10, +2.64% from last Friday, -10.12% MTD, -14.18% QTD/YTD, -21.57% from record 9,817.18 set 02/19/20.

SPX ends March at 2,584.59, +1.70% from last Friday, -12.51% MTD, -20.00% QTD/YTD, -23.67% from record 3,386.15 set 02/19/20.

The March 2020 News Summary: The news of the month was dominated by the COVID-19 virus pandemic. Stock exchanges worldwide have taken a significant dip. World and US economic data, which usually lags 1-3 months, is starting to show some of the impact. Supply chains are becoming disrupted. There is a run at grocery stores on almost all items, essential and non-essential. In the US manufacturing of face masks and much needed ventilators is ramping up. New York City has been especially hard hit, as well as California and the State of Washington. People are being strongly encouraged, and in some states it has been mandated, to stay at home and avoid contact with others as much as possible. A massive national $2 trillion coronavirus stimulus bill was created, passed and was signed into law quickly and with bipartisan support, another $2 trillion is being suggested for infrastructure issues. In China the rate of new cases has started dropping dramatically, in the US the forecast is that April will be the big month. The Stock Market Bear and his friend COVID-19 had several big feast days during the month. The Stock Market Bull tried to fight back and did have a few significant recovery days, but it was not nearly enough. The Stock Market Bear is undefeated so far in 2020, seems to have the momentum and appears energized to possibly do more of the same in April. Expert opinions vary, many of whom have their own agendas. Stay safe, do your research and due diligence, and wish you all the best in April!

The Month of March 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 2 months
Mixed Results: 1 month

The March 2020 US Major Stock Market Exchanges Summary

Number of Trading Days: 2

Number of Gain(+)/Loss(-) Days: DJIA 10+/12-; NASDAQ 9+/13-; SPX 10+/12-.

Record Days: DJIA 0, NASDAQ 0, SPX 0

Longest Gain Streak(Consecutive Days): DJIA 3 days(03/24-26/20), NASDAQ 2 days(02/28-03/02/20), and SPX 3 days(03/24-26/20)

Longest Loss Streak(Consecutive Days): DJIA 3 days(03/05-09/20), NASDAQ 3 days(03/05-09/20), and SPX 3 days(03/05-09/20)

Big Swing Up Days(>1.00%): 9 days, 03/02/20(D +5.09%, N +4.49%, S +4.60%), 03/04/20(D +4.53%, N +3.85%, S +4.22%), 03/13/20(D +9.36%, N +9.35%, S +9.29%), 03/17/20(D +5.20%, N +6.23%, S +6.00%), 03/19/20(N +2.30%), 03/24/20(D +11.37%, N +8.12%, S +9.38%), 03/25/20(D +2.39%, S +1.15%), 03/26/20(D +6.38%, N +5.60%, S +6.24%), 03/30/20(D +3.19%, N +3.62%, S +3.35%)

Big Swing Down Days(<-1.00%): 12 days, 03/03/20(D -2.94, N -2.99%, S -2.81%), 03/05/20(D -3.58%, N -3.10%, S -3.39%), 03/06/20(N -1.87%, S -1.71%), 03/09/20(D -7.79%, N -7.29%, S -7.60%), 03/11/20(D -5.86%, N -4.70%, S -4.89%), 03/12/20(D -9.99%, N -9.43%, S -9.51%), 03/16/20(D -12.93%, N -12.32%, S -11.98%), 03/18/20(D -6.30%, N -4.70%, S -5.18%), 03/20/20(D -4.55%, N -3.79%, S -4.34%), 03/23/20(D -3.04%, S -2.93%), 03/27/20(D -4.06%, N -3.79%, S -3.37%), 03/31/20(D -1.84%, S -1.60%)

The PBR1000 March 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 March 2020 Snapshots. The price for stocks is for the close of trading on March 31, 2020, 1 Month % Chg is compared to February 28, 2020, 12 Months % Chg is compared to March 29, 2019, and the 24 Months % Chg is compared to March 29, 2018. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the March 2020 edition with the complete 15 Snapshots and 28 rankings and the bonuses The PBRMarketTools US Monthly Indices Snapshots and The PBR25 Top Buy Stocks.

Table 1(S11): The PBR1000 Top 5 Month Stock Price % Gainers

Table 1 Summary: The range was +42% to -85%. 80 out of 998 stocks were up 0% or more. The average was a loss of 17.32%, the median was a loss of 22.08%. The DJIA was -13.74%, NASDAQ -10.12%, SPX -12.51%.

Company	PBR Rank	Symbol	Price 03/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
United Natural Foods	147	UNFI	$ 9.18	+42	-31	-79
Citrix	804	CTXS	$ 141.55	+37	+42	+53
Owens & Minor	333	OMI	$ 9.15	+34	+123	-41
A-Mark	550	AMRK	$ 12.28	+33	+3	+0
Core-Mark	191	CORE	$ 28.57	+24	-23	+34

Table 2(S12): The PBR1000 Top 5 12 Months Stock Price % Gainers

Table 2 Summary: The range was +123% to -99%. 170 out of 994 stocks were up 0% or more. The average was a loss of 17.03%, the median was a loss of 27.16%. The DJIA was -15.47%, NASDAQ -0.38%, SPX -8.81%.

Company	PBR Rank	Symbol	Price 03/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
Owens & Minor	333	OMI	$ 9.15	+34	+123	-41
Tesla	117	TSLA	$ 524.00	-22	+87	+97
Legg Mason	749	LM	$ 48.85	-2	+78	+20
AMD	434	AMD	$ 45.48	+0	+78	+353
Anixter	348	AXE	$ 87.87	-10	+57	+16

Table 3(S13): The PBR1000 Top 5 24 Months Stock Price % Gainers

Table 3 Summary: The range was +353% to -99%. 259 out of 975 stocks were up 0% or more. The average was a loss of 12.42%. The median was a loss of 28.45%. The DJIA was -9.07%, NASDAQ +9.01%, SPX -2.13%.

Company	PBR Rank	Symbol	Price 03/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
AMD	434	AMD	$ 45.48	+0	+78	+353
Roku	992	ROKU	$ 87.48	-23	+36	+181
FTI Consulting	882	FCN	$ 119.77	+6	+56	+147
Twilio	991	TWLO	$ 89.49	-21	-31	+134
Veeva Systems	993	VEEV	$ 156.37	+10	+23	+114

Table 4(S15): The PBR1000 Top 5 Market Capitalization

Table 4 Summary: The range was $1,219 billion to $0.01 billion. The average is $24.380 billion, median is $5.54 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 02/28/20	Mo % Chg	12/19 % Chg	12/17 % Chg
Microsoft	20	MSFT	$ 1,219 B	+1	+1	+85
Apple	4	AAPL	$ 1,115 B	-7	-13	+28
Amazon	2	AMZN	$ 978 B	+4	+7	+76
Alphabet	11	GOOG	$ 788 B	-13	-15	+8
Facebook	46	FB	$ 473 B	-13	-19	-8
The PBR1000			$ 24,380 B	-13	-19	-6

Table 5: The PBR1000 Index & Primary US Stock Exchanges/Commodities

Company	Price 03/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
The PBR1000	73,806.20	-17.3	-17.0	-12.4
DJIA	21,917.16	-13.7	-15.5	-9.1
NASDAQ	7,700.10	-10.1	-0.4	+9.0
S&P500	2,584.59	-12.5	-8.8	-2.1
GOLD	1,591.00	+0.2	+22.7	+19.7
SILVER	14.16	-15.1	-6.3	-13.4
OIL	20.10	-55.6	-66.6	-69.0

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PBRMarketTools.com provides The PBR1000, a compilation of 1,000 of the largest publicly held companies with primary operations in the US. These companies generate $14 trillion in annual revenues, more than all other US companies combined. The PBR1000 Monthly Snapshots provides these 1,000 companies in Excel format, includes 15 worksheets with 28 rankings, over 200 data/information points, hotlinks to key data, and important news items per company. This service is used by astute business professionals and shrewd investors worldwide.

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(Graphic courtesy of US Center for Disease Control(CDC).)

Filed Under: Snapshots Tagged With: Analytics, Business Intelligence, Commodities, Coronavirus, COVID19, DJIA, Economy, Investing, Investments, Investors, Market Research, Money, NASDAQ, Personal Finance, Rankings, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 March 2020 Breaking News Recap

March 16, 2020 by admin

The PBR1000: Another Version of March Madness

The coronavirus respiratory disease has grabbed the attention of the world, interrupted global supply chains, and is affecting bottomlines of international companies. Governmental and Corporate responses have remained relatively calm, but stock exchanges appear to be in a panic. Who will prevail?

By Larry C. Paxton

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

***Tuesday, March 31

NASDAQ ends March at 7,700.10, +2.64% from last Friday, -10.12% MTD, -14.18% QTD/YTD, -21.57% from record 9,817.18 set 02/19/20.

SPX ends March at 2,584.59, +1.70% from last Friday, -12.51% MTD, -20.00% QTD/YTD, -23.67% from record 3,386.15 set 02/19/20.

The Month of March 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 2 months
Mixed Results: 1 month

Macy’s(PBR118 $M) to move from S&P 500 to the S&P SmallCap 600 on 04/03/20.

Danaher(PBR176) completes $21.4 billion cash acquisition of Biopharma business of bioprocessing technologies and solutions provider GE(PBR19) Life Sciences unit, will be called Cytiva and will be a standalone operating company within Danaher’s Life Sciences segment. $DHR PR link.

Truist Financial(PBR215) completes acquisition of Truist Center, formerly Hearst Tower, in Charlotte, NC, for $455.5 million. $TFC PR link.

News Corp(PBR307) to sell its News America Marketing business to private equity firm Charlesbank Capital Partners for up to $235 million, will have option to retain up to 15% equity in the business, to close by 06/30/20. $NWS PR link.

Newmont Goldcorp(PBR315) completes $375 million sale of its Red Lake complex in Ontario, Canada, to Evolution Mining. $NEM PR link.

Xerox(PBR336) says current global COVID-19 health care crisis is not conducive to pursue an acquisition of HP(PBR55), is withdrawing its tender offer and will no longer seek to nominate it suggested board members. https://bit.ly/XRXtc31$DHR PR link.

Tailored Brands(PBR749) re-opens its fulfillment centers, stores remain closed, to make 50,000 cotton washable facemasks at its New Bedford, MA, factory. https://bit.ly/TLRDtc31b$DHR PR link.

Tailored Brands(PBR749) adopts a short-term shareholder rights plan. https://bit.ly/TLRDtc31$DHR PR link.

The International Olympic Committee announces that the Tokyo 2020 Olympics dates have been moved to 07/23/21-08/08/21, will still be called the Tokyo 2020 Olympics. IOC PR link.

The US Dept of Treasury says the US National Debt-Public on 03/30/20 is at $17.555 trillion, Intragovernmental $6.010 trillion, Total Debt $23.565 trillion, +0.7% from 02/28/20, +1.6% from 12/31/19, +7.0% from 03/29/19. USTreasury PR link.

The US Dept of Treasury says the US 10 Year Treasury Note Yield on 03/31/20 is at 0.70%, 02/28/20 was at 1.13%, 01/31/20 1.99%, 03/29/19 2.41%. USTreasury PR link.

The US Dept of Commerce/BEA says the Preliminary 4Q19 US Net International Assets are at $29.318 trillion, Liabilities $40.309 trillion, Net International Investment Position is at -$10.991 trillion, +0.1% from 3Q19, +15.0% from 4Q18. USDOC PR link.

The US Federal Reserve Bank of Chicago says the Preliminary February 2020 7th District Midwest Economic Index is at -0.08, January 2020 was at -0.35, December 2019 -.51, February 2019 +0.04. “The data through February were unlikely to have been affected much by the Covid-19 outbreak.” ChiFed PR link.

The S&P CoreLogic Case-Shiller January 2020 US National Home Price Index(01/2000=100) is at 212.43, December 2019 was at 212.39, November 2019 212.31, December 2017 195.97 December 2016 184.50. The 20 City and 10 City are at the link and will be on The PBRMarketTools March 2020 US Indices Snapshots. Case-Shiller PR link.

The Conference Board says the Preliminary March 2020 US Consumer Confidence Index(1985=100) is at 120.0, February 2020 was at 132.6, January 2020 130.4, March 2019 124.2. “… the intensification of COVID-19 and extreme volatility in the financial markets have increased uncertainty about the outlook for the economy and jobs. March’s decline in confidence is more in line with a severe contraction – rather than a temporary shock – and further declines are sure to follow.” TCB PR link.

The American Automobile Assn says the US Average Price for a Gallon of Regular Gas on 03/31/20 is at $1.997, 02/29/20 was at $2.447, 01/31/20 $2.485, 03/29/19 $2.691. “The national average for a gallon of regular gasoline dropped below $2 for the first time in four years… AAA expects gas prices to push cheaper, with the national price average hitting $1.75 or less in April… The decline is due to COVID-19’s chilling effect on the global economy and the crude oil price war between Saudi Arabia and Russia.” AAA PR link.

***Monday, March 30

Dow(PBR74) to expand hand sanitizer production at additional sites in North America, Europe and Latin America, will produce equivalent of 880,000 8 oz bottles per week, will be donated to local health systems and government agencies. $DOW PR link.

PBF Energy(PBR119) to sell off five hydrogen plants to Air Products(PBR341) for $530 million cash, to close in 04/20. $PBF PR link.

Spirit Airlines(PBR630) adopts a limited duration stockholder rights agreement in response to coronavirus pandemic. $SAVE PR link.

Hillenbrand(PBR922) completes around $224 million cash sale of its Cimcool business to DuBois Chemicals. $HI PR link.

BNY Mellon(PBR196) appoints Todd Gibbons as CEO, had been serving as Interim CEO. $BK PR link.

***Friday, March 27

The PBRMarketTools US Stock Exchanges Recap for Week 13 ending 03/27/20:

DJIA ends Week 13 at 21,636.78, +12.84% from last Friday, -14.85% MTD, -24.18% QTD/YTD, -26.78% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 13 at 7,502.38, +9.05% from last Friday, -12.43% MTD, -16.39% QTD/YTD, -23.58% from record 9,817.18 set 02/19/20.

SPX ends Week 13 at 2,541.47, +10.26% from last Friday, -13.97% MTD, -21.34% QTD/YTD, -24.95% from record 3,386.15 set 02/19/20.

The Week 13 News Summary: It’s all about the COVID-19 virus. Cumulative confirmed worldwide cases are at nearly 600,000 and deaths at over 26,000. The US now has the most active cases with just under 100,000 reported. In response, in a quick and bipartisan effort, both houses of Congress passed a $2+ trillion stimulus bill which President Trump has signed. Companies are forging strategic partnerships for the rapid production of ventilators, masks, and other medical supplies. But many companies have announced layoffs and furloughs, resulting in a record initial unemployment claims of over 3 million people in the past week, significantly over the around 220,000 from previous weeks. Other US economic news was good, but still preliminary and just before the outbreak was labelled a pandemic. President Trump has indicated an ambitious plan, which health officials have strongly denounced, to get the country to start producing again, with a timeline of Easter, which is just a couple of weeks away. The US stock exchanges were again wildly volatile both up and down. But at the end of Week 13 The Stock Market Bull was the clear victor with a 3-0 mark after a 3 days strong rally, but with The Stock Market Bear still way ahead year-to-date, and still with a strong appetite to dine on more cash, according to several respected pundits.

The Week 13 of 2020 tally YTD is:
The Stock Market Bull: 6 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 1 week

Sysco(PBR55) furloughed workers in the US because of the coronavirus pandemic may have opportunities to temporarily work at Kroger(PBR22) stores in partnership agreement. $SYY PR link.

Pfizer(PBR59)’s Upjohn division and Mylan(PBR273) plan to combine as Viatris by around mid-2020 now anticipated to close 2H20 because of coronavirus pandemic. $PFE PR link.

Abbott(PBR99) gets US FDA Emergency Use Authorization (EUA) for the fastest available molecular point-of-care test for the detection of novel coronavirus (COVID-19), delivering positive results in as little as five minutes and negative results in 13 minutes. $ABT PR link.

The US Dept of Commerce/BEA says the Preliminary February 2020 Personal Income Annual Rate is $19.095 trillion, +0.6% from January 2020, +4.0% from February 2019. More on Table 1 of the link. USDOC PR link.

The U of Michigan Final March 2020 Consumer Sentiment Index is at 89.1, February 2020 was at 101.0, January 2020 99.8, March 2019 98.4. “… Stabilizing confidence at its month’s end level will be difficult given surging unemployment and falling household incomes. The extent of additional declines in April will depend on the success in curtailing the spread of the virus and how quickly households receive funds to relieve their financial hardships.” UMichigan PR link.

The John Hopkins University Center for Systems Science and Engineering provides the latest counts on COVID-19 virus. On 03/27/20 11:54:13 Eastern the worldwide counts were 586,140 cumulative confirmed cases, 26,865 deaths. JHU-CSSE PR link.

***Thursday, March 26

Ford(PBR12) is aiming to restart production at select plants in N America as early as 04/06/20. $F PR link.

Bristol-Myers Squibb(PBR108) gets US FDA approval for ZEPOSIA® (ozanimod) 0.92 mg for the treatment of adults with relapsing forms of multiple sclerosis (RMS). $BMY PR link.

Weyerhaeuser(PBR440) completes $145 million cash sale of its 630,000 acres of timberland in Montana to a private timberland investment company. $WY PR link.

Chipotle(PBR489) announces The 2020 Chipotle Challenger Series with new online competition for e-sports fans, will connect fans across the country with their favorite gaming and celebrity personalities for a chance to win $50,000 and free Chipotle for a year. $CMG PR link.

The US Dept of Labor says the US Initial Unemployment Insurance Claims for the Week Ending 03/21/20 is at 3,283,000, 02/22/20 was at 219,000, 01/25/20 216,000, 03/23/19 211,000. The large increase is primarily due to layoffs from the COVID-19 virus pandemic. USDOL PR link.

The US Dept of Commerce/BEA says the 4Q19-3rd Estimate Gross Domestic Product is at +2.1%, same as 2nd Estimate, 4Q19 Annual GDP Rate is at $21.729 trillion, +0.87% from 3Q19, +3.98% from 4Q18. USDOC PR link.

FreddieMac(PBR40) says the US Weekly Average 30 Year Fixed Mortgage Rate on 03/26/20 is at 3.50% with 0.7 points/fees, was 3.45% on 02/27/20, 3.51% 01/29/20, 4.06% 03/28/19. “… the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets.” $FMCC PR link.

***Wednesday, March 25

Fluor(PBR166) adopts a limited duration stockholder rights agreement. $FLR PR link.

Occidental Petroleum(PBR149) enters into an agreement with Carl C. Icahn and affiliates to add three new Icahn designated directors to Occidental’s Board. $OXY PR link.

Groupon(PBR797) President/N America Aaron Cooper appointed Interim CEO, succeeds Rich Williams who remains as an employee. https://bit.ly/GRPNtc25$F PR link.

The US Energy Information Administration says the 03/20/20 US Millions of Barrels of Crude Oil Stocks are at 455.4, 02/21/20 was at 443.3, 01/24/20 431.7, 03/22/20 442.3. USEIA PR link.

***Tuesday, March 24

Ford(PBR12) is working with 3M(PBR98), GE(PBR33), and the United Auto Workers to speed production of respirators for healthcare workers, ventilators for coronavirus patients. $F PR link.

Mondelez(PBR110) in response to COVID-19 pandemic to hire 1,000 frontline US employees to ensure the uninterrupted functioning of its US distribution and sales network in the coming months. $MDLZ PR link.

Occidental Petroleum(PBR149) elects its former CEO Steve Chazen as Non-Executive Chairman. $OXY PR link.

The US Dept of Commerce/HUD says the Preliminary February 2020 New Family Home Sales Annual Rate is at 765,000, January 2020 was at 800,000, December 2019 724,000, February 2019 669,000; Median Home Price is at $345,900, +6.3% from January 2020, +7.8% from February 2019. USDOC PR link.

The US Federal Reserve Bank of Philadelphia says the March 2020 3rd District Non-Manufacturing Current General Activity Index is at -35.1, February 2020 was at +31.0, January 2020 +13.4, March 2019 +20.5. “The survey’s indexes for general activity at the firm level, sales/revenues, new orders, and full-time employment all fell sharply and into negative territory this month, coinciding with developments related to the coronavirus.” PhillyFed PR link.

The US Federal Reserve Bank of Richmond says the March 2020 5th District Manufacturing Index(Annualized) is at +2%, February 2020 was at -2%, January 2020 +20%, March 2019 +10%. “Survey respondents were pessimistic, expecting weaker business conditions and a drop in shipments and new orders in the coming months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the March 2020 5th District Service Sector Revenue Index(Annualized) is at +1%, February 2020 was at +26%, January 2020 +10%, March 2019 +5%. “Survey respondents were pessimistic, expecting business conditions to worsen in the next six months.” RichmondFed PR link.

***Monday, March 23

PBRMarketTools.com welcomes pioneer TV streaming service Roku to The PBR1000, ranked 993 by revenues. More details at the Roku Spotlight page.

CVS Health(PBR5) to provide $150-500 in bonuses, add benefits and hire 50,000 in response to pandemic. $CVS PR link.

GE(PBR33) in response to COVID-19 pandemic to reduce around 10% of its US GE Aviation workforce, furlough around 50% maintenance, repair and overhaul employees for 90 days. $GE PR link.

PG&E(PBR184) has resolved all state charges related to the 2018 Camp Fire through a plea agreement with the Butte County District Attorney, will pay maximum fine of $4 million and fund efforts to restore access to water for the next five years for residents impacted by the loss of the Miocene Canal. $PCG PR link.

MGM Resorts(PBR242) Chairman/CEO Jim Murren steps down per his announcement in 02/20, President/COO Bill Hornbuckle appointed interim CEO, Board member Paul Salem named Chairman. https://bit.ly/MGMtc23$HI PR link.

The US Federal Reserve Bank of Chicago says the Preliminary February 2020 US National Activity Index is at +0.16, January 2020 was at -0.33, December 2019 -0.46, February 2019 -0.60. “Index suggests economic growth picked up in February… The data through February were unlikely to have been affected much by the COVID-19 outbreak.” ChiFed PR link.

***Friday, March 20

The PBRMarketTools US Stock Exchanges Recap for Week 12 ending 03/20/20:

DJIA ends Week 12 at 19,173.98, -17.30% from last Friday, -24.54% MTD, -32.81% QTD/YTD, -35.12% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 12 at 6,879.52, -12.64% from last Friday, -19.70% MTD, -23.33% QTD/YTD, -29.92% from record 9,817.18 set 02/19/20.

SPX ends Week 12 at 2,304.92, -14.98% from last Friday, -21.98% MTD, -28.66% QTD/YTD, -31.93% from record 3,386.15 set 02/19/20.

The Week 12 News Summary: The world continues to be inundated with the COVID-19 pandemic related news, including school and business closures, strong “stay at home” messaging, only pick-up or delivery at restaurants if they are not closed, panic buying in grocery stores, and dramatic government efforts to figure out a way to spend their way out of what could be economic catastrophes. The escalation of news, government actions and resulting consumer behaviors will make for some interesting studies in the future. Health authorities continue to sound the alarm, contrarians are saying this is way overblown, especially when compared to past outbreaks. Time will bring out the truth. US economic news continues to be mostly positive, but is still based on results prior to the COVID-19 scare. For example, existing home sales had a big upturn in February. Last Sunday the Federal Open Market Committee in response to the COVID-19 scare dropped the key federal funds rate a full percent to 0.00% to 0.25%. US politics never stops and presidential candidate Democrat Joe Biden continues to outrun his competition with endorsements from dropouts in what is now a 2 person race. Either The Stock Market Bull is a victim of COVID-19 or is practicing the “stay at home” strategy to avoid it. The Stock Market Bear took big advantage of this and gorged on a large chunk of cash from the markets and overwhelmingly wins a volatile Week 12 3-0. Some say he has overindulged and can’t sustain it. Next week we will find out how big his appetite is.

The Week 12 of 2020 tally YTD is:
The Stock Market Bull: 5 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 1 week

Hillenbrand(PBR922) to sell its Cimcool business to DuBois Chemicals for around $224 million cash, to close on 03/30/20. $HI PR link.

The Natl Assn of Realtors says the February 2020 US Existing Home Sales Annual Rate is at 5,770,000, +6.5% from January 2020, +7.2% from February 2019; Median Home Price is at $270,100, +1.4% from January 2020, +8.0% from February 2019. NAR PR link.

***Thursday, March 19

Walmart(PBR1) to give $300 for US full-time hourly associates and $150 for part-time hourly associates as a special cash bonus on 04/02/20 for people employed by 03/01/20, also plans to hire 150,000 more people. $WMT PR link.

Fluor(PBR166) gets non-compliance letter from the NYSE for not filing 10-k on timely basis, has 6 months to remedy. $FLR PR link.

eBay(PBR287) says letter from minority investor Starboard nominating 4 more people for the Board is unwarranted, unreasonable and detrimental to the company. $EBAY PR link.

Acadia Healthcare(PBR724) puts effort to sell UK business on hold because of COVID-19 crisis. $ACHC PR link.

Cigna(PBR13 $CI) moves up from 24 to 22 on the mid-March 2020 update to The PBR25 Top Buy Recommendations with a 4.65/5.00 rating based on 26 analyst recommendations. For more go to The PBR25 information page.

The US Dept of Labor says the 4Q19 US Average Wages & Salaries-All Workers is at $25.47, Benefits $11.63, Total $37.10, +0.2% from 3Q19, +2.2% from 4Q18. USDOL PR link.

The US Dept of Commerce/BEA says the Preliminary 4Q19 US Exports(Goods, Services, Income Receipts) is at $936.1 billion, Imports(Goods, Services, Income Payments) is at $1.046 trillion, Deficit is at $109.8 billion, -12.4% from 3Q19, -23.7% from 4Q18. USDOC PR link.

The Federal Reserve Bank of Philadelphia says the March 2020 3rd District Manufacturing General Activity Indicator is at -12.7, February 2020 was at +36.7, January 2020 +17.0, March 2019 +14.9. Responses to the March Manufacturing Business Outlook Survey indicated a notable weakening in manufacturing activity… The survey’s future indexes suggest that respondents expect declines to be short-lived, inasmuch as they continue to expect growth in manufacturing activity over a horizon of six months.” PhillyFed PR link.

The Conference Board says the Preliminary February 2020 US Leading Economic Index(2016=100) is at 112.1, January 2020 was at 112.0, December 2019 111.3, February 2019 111.5. “The U.S. LEI rose slightly in February, but it doesn’t reflect the impact of the COVID-19 pandemic which began to hit the U.S. economy in full by early March.” TCB PR link.

***Wednesday, March 18

Abbott(PBR99) gets US FDA Emergency Use Authorization (EUA) for the company’s molecular test for novel coronavirus (COVID-19), scaling up production at its US manufacturing location to reach capacity for 1 million tests per week by end of 03/20. $ABT PR link.

Starbucks(PBR107) authorizes up to 40 million shares repurchase program, is in addition to the approximately 16 million shares that remained available as of 12/29/19 under the previous authorization. $SBUX PR link.

YUM!(PBR488) completes $14/share cash, around $375 million, acquisition of The Habit Burger Grill(NASDAQ:HABT), with nearly 300 company-owned and franchised restaurants across the US and in China. $YUM PR link.

Granite Construction(PBR681) gets NYSE letter saying by not filing its 10-K annual report with the SEC it is not in compliance, has 6 months to file 10-K. $GVA PR link.

Maximus(PBR748) authorizes the expansion of purchases of MAXIMUS common stock of up to an aggregate of $200 million, which includes the remaining balance from the 2018 authorization of $37.2 million as of 03/17/20. $MMS PR link.

The US Federal Housing Finance Administration directs FannieMae(PBR23) and FreddieMac(PBR41) to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency, is in addition to previously directed payment forbearance to borrowers for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus. FHFA PR link.

The US Dept of Commerce/HUD says the Preliminary February 2020 New Residential Construction-Building Permits Issued Annual Rate is at 1,464,000, -5.6% from January 2020, +13.8% from February 2019. Go to link for Housing Starts and Housing Completions. USDOC PR link.

***Tuesday, March 17

Facebook(PBR46) to offer $100 million in cash grants, ad credits to 30,000 small businesses in 30+ countries due to coronavirus. $FB PR link.

AbbVie(PBR94) and Allergan(PBR197) sign a consent decree agreement with the US Federal Trade Commission (FTC) agreeing to divest brazikumab, an investigational IL-23 inhibitor in development for autoimmune diseases, to AstraZeneca and Zenpep, a treatment for exocrine pancreatic insufficiency due to cystic fibrosis and other conditions, to Nestle who will also be acquiring Viokace, another pancreatic enzyme preparation, as part of the same transaction; AbbVie $63 billion acquisition of Allergan now expected to close in 05/20. $ABBV PR link.

Fox Corp(PBR269) to acquire Tubi, a leader in the fast-growing free ad-supported streaming category, for approximately $440 million in net cash, to close by 06/30/20. $FOX PR link.

The US Dept of Labor says the Preliminary January 2020 Jobs Openings-Private are at 6,208,000, Government 755,000, Total Openings 6,963,000, +6.3% from December 2019, -7.4% from January 2019. For Hires and Separations go to the link. USDOL PR link.

The US Dept of Commerce/Census says the Preliminary February 2020 US Sales-Manufacturers is $501.8 billion, Retailers $464.8 billion, Wholesalers $504.6 billion, Total $1.471 trillion, +0.6% from January 2020, +2.1% from February 2019. USDOC PR link.

The US Dept of Commerce/Census says the Advance February 2020 US Sales-Retail is at $462.3 billion, Food Services & Drinking Places $65.8 billion, Total $528.1 billion, -0.5% from January 2020, +4.4% from February 2019. USDOC PR link.

The US Federal Reserve says the Preliminary February 2020 US Manufacturing % of Capacity is at 77.0%, January 2020 was at 76.6%, December 2019 77.1%, February 2019 78.5%, Capacity Growth Over Previous Year is at 2.0%. USFed PR link.

The Natl Assn of Home Builders/Wells Fargo say the Preliminary March 2020 US Housing Market Composite Index(>50=more builders view conditions as good than poor) is at 72, February 2020 was at 74, January 2020 75, March 2019 62. “Builder confidence remains solid, although sales expectations for the next six months dropped four points on economic uncertainty stemming from the coronavirus…” NAHB PR link.

***Monday, March 16

Amazon(PBR2) to hire 100,000 for full/part time positions across the US for fulfillment and delivery services because of increased orders during the coronavirus pandemic. $AMZN PR link.

Apple(PBR4 $AAPL) fined $1.3 billion by France over competition concerns. MarketWatch PR link.

Thermo Fisher Scientific(PBR112) gets US FDA emergency use authorization (EUA) for its diagnostic test that can be used immediately by CLIA high-complexity laboratories in the US to detect nucleic acid from SARS-CoV-2, the virus that causes COVID-19, and not for any other viruses or pathogens, total test time takes 4 hours. $TMO PR link.

McDonald’s(PBR150 $MCD) shifts to take-out only mode over coronavirus. MarketWatch PR link.

Kohl’s(PBR159) to offer Lands’ End(PBR961 $LE)‘s entire assortment of women’s, men’s, kids, and home merchandise on Kohls.com, directly fulfilled and shipped by Lands’ End, and to offer LE seasonal merchandise in 150 stores, both beginning fall 2020. $KSS PR link.

PG&E(PBR184 $PCG) wins court approval of $23 billion bankruptcy financing package. MarketWatch PR link.

Lockheed(PBR56) elects James D. Taiclet, 59, as President/CEO, effective 06/15/20, succeeds Chairman/President/CEO Marillyn A. Hewson who will become Executive Chairman. $LMT PR link.

The US Federal Open Market Committee in a special meeting on 03/15/20 lowers the federal funds rate from 1.00-1.25% to 0.00-0.25% in response to concerns about the COVID-19 pandemic. FOMC PR link.

The Federal Reserve Bank of New York says the March 2020 Empire State Manufacturing General Business Conditions Index is at -21.5, February 2020 was at +12.9, January 2020 +4.8, March 2019 +5.1. “Optimism about the six-month outlook fell sharply, with firms less optimistic than they have been since 2009.” NYFed PR link.

***Friday, March 13

The PBRMarketTools US Stock Exchanges Recap for Week 11 ending 03/13/20:

DJIA ends Week 11 at 23,185.62, -10.36% from last Friday, -8.75% MTD, -18.76% QTD/YTD, -21.54% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 11 at 7,874.85, -8.17% from last Friday, -8.08% MTD, -12.23% QTD/YTD, -19.78% from record 9,817.18 set 02/19/20.

SPX ends Week 11 at 2,711.02, -8.79% from last Friday, -8.23% MTD, -16.09% QTD/YTD, -19.94% from record 3,386.15 set 02/19/20.

The Week 11 News Summary: Across the globe the COVID-19 respiratory illness news dominated as it has for several weeks now. Key cultural events are being cancelled or postponed. The World Health Organization has labelled it a pandemic. The data is starting to come in and initial impacts on the global economy are starting to be measured. It doesn’t look pretty. At the same time oil prices are dipping because of the potential oil glut caused by the rift between Saudi Arabia and Russia. Former US Vice President Joe Biden is clearly ahead as the challenger to Donald Trump for the US presidency, but Bernie Sanders continues to push back, but now looks like his bid is coming up short. The stock exchanges reacted with scary high and low fluctuations. In the end The Stock Market Bear easily outbullied The Stock Market Bull to easily take Week 11 with a 3-0 victory.

The Week 11 of 2020 tally YTD is:
The Stock Market Bull: 5 weeks
The Stock Market Bear: 5 weeks
Mixed Results: 1 week

Microsoft(PBR20 $MSFT) $10 billion cloud-computing award by the US Dept of Defense over Amazon(PBR2 $AMZN)‘s bid to be reconsidered over next 120 days. MarketWatch PR link.

Occidental Petroleum(PBR149) adopts limited duration stockholder rights plan, expires in 1 year, to be voted on at annual meeting. $OXY PR link.

Xerox(PBR336) puts its tender offer to acquire HP(PBR55) on hold because of coronavirus pandemic. https://bit.ly/XRXtc13$ORCL PR link.

Huntsman(PBR427) to acquire CVC Thermoset Specialties, a N American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets, from Emerald Performance Materials LLC which is majority owned by affiliates of American Securities, for around $300 million cash, to close mid 2020. https://bit.ly/HUNtc13$ORCL PR link.

Cleveland-Cliffs(PBR841) completes $3.36/share $1.1 billion acquisition of producer of flat-rolled carbon, stainless and electrical steel products AK Steel(PBR424). http://bit.ly/CLFtc13$ORCL PR link.

Cincinnati Bell(PBR968) to be acquired by Macquarie Infrastructure(PBR933) for $15.50/share cash, around $2.9 billion, includes debt, to close in 1H21. https://bit.ly/CBBtc13$ORCL PR link.

Microsoft(PBR20) co-founder Bill Gates steps down as a board member of Microsoft and Berkshire Hathaway(PBR6) to dedicate more time to his philanthropic priorities, will remain a technical advisor for Microsoft’s CEO Satya Nadella and other leaders. https://bit.ly/MSFTtc13b$ORCL PR link.

Verso Corp(PBR786) CEO Adam St. John elected to also be President, effective immediately. https://bit.ly/VRStc13$ORCL PR link.

The US Dept of Labor says the Preliminary February 2020 US Import Prices Index is at -0.5%, January 2020 was at +0.1%, December 2019 +0.2%, February 2020 +1.0%; the US Export Prices Index is at -1.1%, January 2020 was at +0.6%, December 2019 -0.2%, February 2019 +0.6%; Last 12 Months-Imports is at -1.2%, Exports -1.3%. USDOL PR link.

The U of Michigan Preliminary March 2020 Consumer Sentiment Index is at 95.9, February 2020 was at 101.0, January 2020 99.8, March 2019 98.4. “… the initial response to the pandemic has not generated the type of economic panic among consumers that was present in the runup to the Great Recession. Nonetheless, the data suggest that additional declines in confidence are still likely to occur as the spread of the virus continues to accelerate.”
UMichigan PR link.

***Thursday, March 12

Oracle(PBR78) increases share buyback program by $15.0 billion. $ORCL PR link.

Devon Energy(PBR289) $770 million sale of the Barnett Shale to Banpu Kalnin Ventures is scheduled to close on 04/15/20. $DVN PR link.

McDermott Intl(PBR432) gets US Bankruptcy Court approval for Plan of Reorganization and for sale of its Lummus Technology unit to a joint partnership between The Chatterjee Group and Rhône Capital for $2.725 billion, expects to emerge from Chapter 11 bankruptcy in 2Q20 with more cash than debt. $MDR PR link.

UPS(PBR42) Chairman/CEO David Abney to become Executive Chairman on 06/01/20 and will retire from the Board on 09/30/20 when William Johnson, UPS Lead Independent Director will become Non-Executive Chairman; Board member Carol Tome to be hired as new CEO. $UPS PR link.

Party City(PBR829) CEO Jim Harrison to become Vice Chairman on 04/01/20, President/PCHI and CEO/Party City Retail Group Brad Weston is named as CEO successor. $PRTY PR link.

Tupperware(PBR880) hires Miguel Fernandez as President/CEO, effective 04/06/20, succeeds Interim CEO Chris O’Leary who returns to the Board, Rich Goudis appointed Executive Vice Chairman, effective 03/12/20. $TUP PR link.

The US Federal Reserve Z1 Report says the Preliminary 4Q19 US Networth of Households & Non-Profits is at $118.368 trillion, +2.7% from 3Q19, +10.4% from 4Q18. USFed PR link.

The US Dept of Labor says the Preliminary February 2020 Total Monthly Final Demand Producer Price Index is at -0.6%, January 2020 was at +0.5%, December 2019 +0.2%, February 2019 +0.2%; Total Last 12 Months is at +1.3%, January 2020 was at +2.1%, December 2019 +1.3%, February 2019 +1.9%. USDOL PR link.

***Wednesday, March 11

Pepsi(PBR50) to acquire Rockstar Energy Beverages, the popular energy drink maker, for $3.85 billion, to close in 1H20. $PEP PR link.

HanesBrands(PBR424) CEO Gerald W. Evans Jr to retire, effective 01/02/21, new CEO search starts. $HBI PR link.

The US Dept of Labor says the February 2020 US Monthly Change in the Consumer Price Index is at +0.1%, January 2020 was at +0.1%, December 2019 +0.2%, February 2019 +0.2%; Last 12 Months Change is at +2.3%. USDOL PR link.

The US Dept of Labor says the Preliminary February 2020 Employee Current Average Earnings Per Hour is at $28.52, Average Hours Worked Per Week is at 34.4, Current Average Weekly Earnings is at $981.09, +0.6% from January 2020, +3.0% from February 2019. USDOL PR link.

The US Dept of Treasury says the February 2020 US Fed Govt Receipts are at $188.0 billion, Outlays $423.3 billion, Deficit $235.3 billion, YTD Receipts(5 Months) are at $1.367 trillion, YTD Outlays $1.991 trillion, YTD Deficit $624.5 billion, February 2019 was at $544.2 billion. USTreasury PR link.

The World Health Organization characterizes COVID-19 as a pandemic. WHO PR link.

The US Natl Collegiate Athletic Assn announces Division I men’s and women’s basketball tournaments will be limited to essential staff, family attendance due to COVID-19 concerns. NCAA PR link.

The Natl Basketball Assn suspends season play until further notice as a precaution per a positive COVID-19 test by a player. NBA PR link.

***Tuesday, March 10

CVS Health(PBR5) Pharmacy unit to acquire Schnuck Markets‘ retail and specialty pharmacy businesses, 110 locations in the Midwest, terms not disclosed, to close in 2Q20. $CVS PR link.

McKesson(PBR8) completes split-off of its interest in Change Healthcare(NASDAQ: CHNG). $MCK PR link.

Wells Fargo(PBR26 $WFC) CEO Charles Scharf tells the US House Financial Services Committee that the bank’s cultural issues won’t be fixed until 2021. MarketWatch PR link.

DXC Technology(PBR155) to sell its US State and Local Health and Human Services business to Veritas Capital for $5.0 billion in cash, to close by end of 2020. $DXC PR link.

PG&E(PBR183 $PCG) says it has settled dispute with FEMA over California wildfire money. MarketWatch PR link.

Royal Caribbean(PBR323) is bolstering its liquity as a precaution to the COVID-19 outbreak, increases revolving credit capacity by $550 million, reducing capital expenditures, operating expenses and taking other actions to improve liquidity by at least a further $1.7 billion in 2020. $RCL PR link.

Dick’s Sporting Goods(PBR350) to close an additional 440 hunt departments in its stores in 2020. $DKS PR link.

Cracker Barrel(PBR719) authorizes up to $25 million share repurchase program, expires 03/05/21. $CBRL PR link.

Take-Two Interactive(PBR793)’s 2K publishing unit gets multi-year partnership deal with the US Natl Football League, encompasses multiple future non-simulation football video game experiences. $TTWO PR link.

Cleveland-Cliffs(PBR842) $3.36/share $1.1 billion acquisition of producer of flat-rolled carbon, stainless and electrical steel products AK Steel(PBR424) gets approval by shareholders of both companies, transaction to be completed 03/13/20. $CLF PR link.

CoreLogic says the December 2019 % of Homes Mortgages 30 or more Days Delinquent is at 3.7%, November 2019 was at 3.9%, October 2019 3.7%, December 2018 4.1%. “Despite recent stress in some areas of the country, mortgage delinquency rates continue to stay at near-record lows.” CoreLogic PR link.

***Monday, March 9

Ross Stores(PBR205) opened 19 Ross Dress for Less® and 7 dd’s DISCOUNTS® stores across 9 different states in February and March, part of plans to add approximately 100 new stores – 75 Ross and 25 dd’s DISCOUNTS locations – during fiscal 2020. $ROST PR link.

Jacobs(PBR243) completes $325 million acquisition of UK based 2,000 employees, $285 million in revenues/2019 program management technical and consulting services in areas such as decommissioning, nuclear new build and operational support in the civil nuclear and defense segments provider John Wood Group’s Nuclear business. $J PR link.

Willis Towers Watson(PBR346) to be acquired by UK based Aon plc(NYSE: AON) in all stock transaction, will create an $80 billion equity value company, to close in 1H21. $WLTW PR link.

Fifth Third Bancorp(PBR373) gets hit with civil lawsuit by the US Consumer Financial Protection Bureau saying it open fake accounts, denies allegations, says controls are designed to prevent and detect unauthorized account openings, looks forward to court proceedings. $FITB PR link.

Burlington Stores(PBR435 $BURL) to shut down e-commerce site, represented only 0.5% of sales, aims to open net 54 new stores in fiscal year 2020. MarketWatch PR link.

Twitter(PBR727) announces that Silver Lake will make a $1 billion investment in Twitter, will be used in an up to $2 billion share repurchase program; also enters into an agreement with 4% stakeholder Elliott Management to add 2 of its designees to the board. $TWTR PR link.

Wells Fargo(PBR26) Chairman Elizabeth Duke has resigned from the Board, Charles Noski appointed Chairman. $WFC PR link.

FannieMae(PBR23) says the February 2020 Home Purchase Sentiment Index is at 92.5, January 2020 was at 93.0, December 2019 91.7, February 2019 84.3. “The HPSI remained relatively steady in February, reflecting another month of robust consumer sentiment consistent with strong housing market data to start the year… the late February stock market decline, precipitated in part by evolving expectations of the potential economic impact of the coronavirus, is not fully reflected in this month’s results due to the timing of our survey data collection, which ended February 22.” $FNMA PR link.

***Friday, March 6

The PBRMarketTools US Stock Exchanges Recap for Week 10 ending 03/06/20:

DJIA ends Week 10 at 25,864.78, +1.79% from last Friday/MTD, -9.37% QTD/YTD, -12.48% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 10 at 8,575.62, +0.10% from last Friday/MTD,
-4.42% QTD/YTD, -12.65% from record 9,817.18 set 02/19/20.

SPX ends Week 10 at 2,972.37, +0.61% from last Friday/MTD, -8.00% QTD/YTD, -12.22% from record 3,386.15 set 02/19/20.

The Week 10 News Summary: The novel coronavirus respiratory disease continues to be the news headliner as it is detected in additional countries. While still not labelled as pandemic, the news reporting would almost have you believe otherwise. At the end of the week US President Trump signed an $8.3 billion emergency bill to fund coronavirus research and development. On the US political front the Democrat Party surprisingly narrowed the list of presidential candidates on Super Tuesday when former Vice President Joe Biden took 10 out of 14 states. Senator Bernie Sanders is now a distant 2nd. The other leading candidates have dropped out. The US Federal Open Market Committee surprised everyone with a drastic 0.50% drop in the federal funds rate which is now 1.00-1.25%. It is in response to coronavirus and there have been mixed reactions to the move. US economic indices are still showing modest to moderate growth, but they also did not include much coronavirus effect yet. The jobs reports were especially strong. The Stock Market Bull was in charge on Monday and Wednesday, The Stock Market Bear on Tuesday and Thursday. On Friday at the opening of the stock exchanges it appeared that the Bear would end up victorious, but The Stock Market Bull quietly took enough away that he narrowly took the week. Perhaps The Stock Market Bear took an afternoon nap in his lounger.

The Week 10 of 2020 tally YTD is:
The Stock Market Bull: 5 weeks
The Stock Market Bear: 4 weeks
Mixed Results: 1 week

US Foods(PBR119) to acquire 70 small-format cash and carry stores across the US Northwest that serve small and mid-sized restaurants and other food business customers with $1.1 billion in revenues in 2019 Smart Foodservice Warehouse Stores from Apollo Global Mgmt(PBR995) for $970 million cash. $USFD PR link.

Briggs & Stratton(PBR920) strategic repositioning includes a sharp focus on its global expertise in power application, a simpler organization through strategic divestitures, and a streamlined overall business to drive improved capital returns. $BGG PR link.

Cincinnati Bell(PBR973) says new bid to be acquired by Macquarie Infrastructure(PBR933) for $15.50/share cash is a superior offer, Brookfield Infrastructure says it will not put in a counter offer, CBB to enter agreememt with Macquarie on 03/13/20. $CBB PR link.

Chipotle(PBR533) Founder/Executive Chairman Steve Ells steps down from position and Board, CEO Brian Niccol appointed to additional role of Chairman, effectively immediately. $CMG PR link.

The US Dept of Labor says the February 2020 US Total Employed is at 158,759,000, +45,000 from January 2020, +1,810,000 from February 2019, Total Unemployed is at 5,787,000, -105,000 from January 2020, -448,000 from February 2019, Unemployment Rate is at 3.5%, February 2019 was at 3.8%. USDOL PR link.

The US Federal Reserve says the Preliminary January 2020 Consumer Credit Outstanding Annual Rate-Revolving is at $$1.090 trillion, Non-Revolving $3,113 trillion, Total $4.203 trillion, +0.3% from December 2019, +4.4% from January 2019. USFed PR link.

The US Dept of Commerce/Census says the Preliminary January 2020 US Wholesale Sales-Durable Goods is at $238.0 billion, Non-Durable Goods $266.5 billion, Total $504.5 billion, +1.6% from December 2019, +2.2% from January 2019. For Wholesale Inventories click on the PR link. USDOC PR link.

The US Dept of Commerce/Census says the Preliminary January 2020 US Exports-Goods is at $136.4 billion, Services $72.2 billion, Total Exports $208.6; US Imports-Goods is at $203.4 billion, Services $50.5 billion, Total Imports $253.9 billion; Deficit-Goods is at $67.0 billion, Surplus-Services $21.7 billion, Total Deficit $45.3 billion, December 2019 Total Deficit was $48.6 billion, November 2019 Total Deficit $43.8 billion, January 2019 Total Deficit was $53.8 billion. USDOC PR link.

***Thursday, March 5

HP(PBR55) rejects Xerox(PBR308 $XRX)‘s latest proposal to be acquired for $24.00/share cash & stock, says Xerox offer meaningfully undervalues HP and disproportionately benefits Xerox shareholders. $HPQ PR link.

Allergan(PBR198) gets US FDA approval for New Drug Application (NDA) for DURYSTA™ (bimatoprost implant) 10 mcg for intracameral administration, becomes the first intracameral, biodegradable sustained-release implant indicated to reduce intraocular pressure (IOP) in patients with open-angle glaucoma (OAG) or ocular hypertension (OHT). $AGN PR link.

Newmont Goldcorp(PBR400) completes $260 million sale of its 19.9% equity stake in Continental Gold, was part of a contractual arrangement to support Zijin Mining Group’s acquisition of Continental. $NEM PR link.

Chipotle(PBR533) is increasing its Paid Parental Leave for Restaurant Support Center and eligible field employees to 12 weeks for birth moms and four weeks for new dads and individuals adopting children; also testing unlimited paid time off (PTO) for Restaurant Support Center Directors and above as well as Executive Team Directors and Team Directors in 2020. $CMG PR link.

Tailored Brands(PBR696) completes $115 million sale of its Joseph Abboud trademarks to WHP Global, has also entered into a licensing agreement with WHP for the exclusive rights to sell and rent Joseph Abboud branded apparel and related merchandise in the US and Canada. $TLRD PR link.

La-Z-Boy(PBR939) to acquire the business that operates six independently owned La-Z-Boy Furniture Galleries® stores, with approximately $30 million in annual retail volume, and one warehouse in the Seattle, WA market, is a result of the planned retirement of independent dealers, to close in 06/20, terms not disclosed. $LZB PR link.

JPMorgan Chase(PBR24) colleagues, shareholders & clients sent letter saying Chairman/CEO Jamie Dimon had succeessful emergency heart operation, is doing well, Co-Presidents & COO’s to lead company during Dimon’s recuperation. $JPM PR link.

Gap Inc(PBR186)’s Old Navy unit CEO Sonia Syngal to become Gap CEO and Board member on 03/23/20. $GPS PR link.

Western Digital(PBR187) hires David Goeckeler as CEO and member of the Board, effective 03/09/20. $WDC PR link.

The US Dept of Labor says the 4Q19 US Business Sector Labor Productivity Output/Hour Percent Change From Previous Quarter Annual Rate is at +1.0%, 3Q19 was -0.4%, 2Q19 +2.9%, 1Q19 +3.9%, 2019 Annual Rate is +1.9%, 2018 was +1.4%, 2017 +1.4%. USDOL PR link.

The US Dept of Commerce/Census says the Preliminary January 2020 Manufacturers New Sales-Durables is $246.0 billion, Non-Durables $251.9 billion, Total $497.9 billion, -0.5% from December 2019 and -0.5% from January 2019. See the report for Shipments and Inventories. USDOC PR link.

***Wednesday, March 4

General Motors(PBR17) reveals its Ultium battery with energy options ranging from 50 to 200 kWh, which could enable a GM-estimated range up to 400 miles or more on a full charge with 0 to 60 mph acceleration as low as 3 seconds. Motors designed in-house will support front-wheel drive, rear-wheel drive, all-wheel drive and performance all-wheel drive applications. Chevrolet, Cadillac, GMC and Buick will all be launching new EVs starting late 2020. $GM PR link.

AMD(PBR442) with Lawrence Livermore National Laboratory (LLNL) and Hewlett Packard Enterprises(PBR103) announce El Capitan, the upcoming exascale class supercomputer at LLNL, will be powered by next generation AMD EPYC™ CPUs, AMD Radeon™ Instinct GPUs and open source AMD ROCm heterogeneous computing software, will exceed 2 exaflops, expected to be more powerful than today’s 200 fastest supercomputers combined, will support National Nuclear Security Administration requirements for its primary mission of ensuring the safety, security and reliability of the nation’s nuclear stockpile, to be available in early 2023. $AMD PR link.

Align Technology(PBR894) to acquire privately held global leader in the dental CAD/CAM software market exocad Global Holdings GmbH for around $415 million cash, to close in 2Q20. $ALGN PR link.

Cincinnati Bell(PBR973) acquisition by Brookfield Infrastructure and its institutional partners amended, raised from $12.50/share to $13.50/share cash, $2.797 billion, including debt, selected over similar bid from Macquarie Infrastructure(PBR933), to close by end of 2020. $CBB PR link.

Advance Auto Parts(PBR317) Independent Chair Jeffrey Smith will not stand for re-election at the 05/20 annual meeting of shareholders, Eugene Lee, Jr expected to be appointed successor. $AAP PR link.

The US Federal Reserve releases its Beige Book for data through 02/24/20, says, “Economic activity expanded at a modest to moderate rate over the past several weeks, according to the majority of Federal Reserve Districts… Outlooks for the near-term were mostly for modest growth with the coronavirus and the upcoming presidential election cited as potential risks.” USFed PR link.

ADP(PBR219) says the Preliminary February 2020 US Change In Non-Farm Private Employment is +183,000, +24,000 from Small Businesses(1-49 employees), +26,000 from Medium-Sized Businesses(50-499), +133,000 from Large Businesses(500 and more); +11,000 are from the Goods Producing Sector, +172,000 from the Services Sector. $ADP PR link.

The Institute for Supply Management says the February 2020 US Non-Manufacturing Index(>50 is economy is growing) is at 57.9%, January 2020 was at 55.5%, December 2019 55.0%, February 2019 59.7%. “Most respondents are concerned about the coronavirus and its supply chain impact. They also continue to have difficulty with labor resources. They do remain positive about business conditions and the overall economy.” ISM PR link.

IHS Markit says the February 2020 US Composite PMI Output Index is at 49.6, January 2020 was at 53.3, December 2019 52.7, February 2019 55.5. “Political and economic uncertainty, the coronavirus outbreak and financial market turmoil all risk building into a cocktail of risk aversion that has severely heightened downside risks to the economy in coming months.” IHS Markit PR link.

***Tuesday, March 3

Ford(PBR12) announces that its best-selling cargo van in the world, the Ford Transit, is going digital, with an all-electric version coming for the 2022 model year, will be manufactured in the US. $F PR link.

Chevron(PBR15) expects to return to shareholders $75-80 billion over the next five years through disciplined capital spending, improved cost efficiency, and continued cash flow growth. $CVX PR link.

Lockheed(PBR61) delivers 500th F-35 aircraft, surpasses 250,000 flight hours. $LMT PR link.

Honeywell(PBR74) on track to release a quantum computer with a quantum volume of at least 64, twice that of the next alternative in the industry, to be available in mid-2020. $HON PR link.

AbbVie(PBR94) $63 billion acquisition of Allergan(PBR197) gets European Commission‘s final approval, US Federal Trade Commission decision is expected in early 2Q20. $ABBV PR link.

Eli Lilly(PBR116) says it sees no interuption in the production and distribution of its medicines, including all forms of insulin, due to coronavirus spread concerns, most manufacturing and raw supplies do not come from China. $LLY PR link.

Thermo Fisher Scientific(PBR118) to acquire Netherlands based global provider of molecular diagnostics and sample preparation technologies QIAGEN NV(NYSE: QGEN; Frankfurt Prime Standard: QIA) for around $11.5 billion, includes $1.2 billion in debt, to close in 1H21. $TMO PR link.

Equinix(PBR489) completes $335 million acquisition of bare metal automation platform provider Packet. $EQIX PR link.

OneMain(PBR538) authorizes an up to $100 million share repurchase program with no expiration date. $OMF PR link.

East West Bancorp(PBR916) authorizes an up to $500 million share repurchase program, is inclusive of the Company’s $100 million stock repurchase authorization currently outstanding. $EWBC PR link.

Deere & Co(PBR79) Chairman Samuel R. Allen to retire 05/01/20 after a 45 year career, CEO John May to add Chairman role at that time. $DE PR link.

The US Federal Open Market Committee in an emergency session regarding the potential economic impact of the potential spread of the coronavirus disease authorizes a 0.50% reduction rate in the federal funds rate, which is now 1.00%-1.25%, FOMC PR link.

The PurdueU/CME Group February 2020 Ag Economy Barometer Composite Index is at 168, a new high, January 2020 was at 167, December 2019 150, February 2019 136. “Producers were more optimistic about current conditions on their farms and in U.S. agriculture and retained most of the improvement in expectations for the future that they exhibited in January.” PurdueU/CME Group PR link.

***Monday, March 2

Apple(PBR4 $AAPL) to pay up to $500 million to settle US lawsuit for quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries, will be $25 per iPhone, Apple denies wrongdoing. yahoo finance PR link.

Alphabet(PBR11 $GOOG) self-driving unit Waymo raises $2.25 billion from investors. MarketWatch PR link.

Anthem(PBR31) completes acquisition of Beacon Health Options, the largest independently held behavioral health organization in the US, serving 36+ million individuals across all 50 states, from Bain Capital Private Equity and Diamond Castle Holding, terms not disclosed. $ANTM PR link.

Gilead Sciences(PBR139) to acquire Forty Seven for $95.50/share cash, $4.9 billion, will strengthen Gilead’s immuno-oncology research and development portfolio, to close in 2Q20. $GILD PR link.

Ingersoll-Rand(PBR200) completes spinoff its Industrial segment to IR shareholders, combine it with Gardner Denver(PBR758), will be called Ingersoll-Rand, retain IR ticker; remainder of IR Climate company renamed Trane Technologies plc, starts trading on NYSE with symbol TT, received $1.9 billion. $IR PR link.

JCPenney(PBR260) will expand Style on the Go Curbside Pickup services to 50 additional locations across the US. $JCP PR link.

Xerox(PBR308) launches a tender offer to acquire all outstanding shares of HP(PBR55) for $24.00/share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share. $XRX PR link.

Constellation Brands(PBR334) completes sale of its Ballast Point brand and a number of its associated production facilities and brewpubs, excluding Constellation’s Craft & Specialty operations in Daleville, VA, to Chicagoland-based Kings & Convicts Brewing Co. $STZ PR link.

Avery Dennison(PBR404) completes $252 million acquisition of Amsterdam, Netherlands based around 900 employees Smartrac’s Transponder (RFID Inlay) Division. $AVY PR link.

Toro(PBR710) completes $167.5 million in cash acquisition of privately-held Orrville, OH based $100 million in 2019 revenues manufacturer of articulating turf, landscape, and snow and ice management equipment for the grounds, landscape contractor, golf, municipal and rural acreage markets Venture Products. $TTC PR link.

GE(PBR33) Chairman/CEO Larry Culp issues statement on passing of former Chairman/CEO John F. Welch, Jr. $GE PR link.

The US Dept of Commerce/Census says the Preliminary January 2020 Construction Spending Annual Rate-Residential is at $562.3 billion, Non-Residential $807.0 billion, Total $1.369 trillion, +1.8% from December 2019, +6.6% from January 2019. USDOC PR link.

The Institute for Supply Management says the Preliminary February 2020 US Manufacturing PMI Index(>50% economy expanding) is at 50.1%, January 2020 was at 50.9%, December 2019 47.8%, February 2019 54.2%. “… Overall, sentiment this month is marginally positive regarding near-term growth…” ISM PR link.

IHS Markit says the February 2020 US Manufacturing PMI Index is at 50.7, January 2020 was at 51.9, December 2019 52.4, February 2019 53.0. IHS Markit PR link.

***Friday, February 28

The PBRMarketTools US Stock Exchanges Recap for Week 9 and February ending 02/28/20:

DJIA ends Week 9 and February at 25,409.36, -12.36% from last Friday, -10.07 MTD, -10.96% QTD/YTD, -14.02% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 9 and February at 8,567.37, -10.54% from last Friday, -6.38% MTD, -4.52% QTD/YTD, -12.73% from record 9,817.18 set 02/19/20.

SPX ends Week 9 and February at at 2,954.22, -11.49% from last Friday, -8.41 MTD, -8.56% QTD/YTD, -12.76% from record 3,386.15 set 02/19/20.

The Week 9 and February of 2020 News Summary: The primary focus globally has escalated to be just the novel coronavirus respiratory disease, still mostly in China, but increasing numbers in other countries of the world. Containment is still uncertain, the economic impact still unmeasurable to any degree of accuracy. In the US President Trump gave a speech and took questions at a press conference, and appointed Vice President Pence to lead the effort to continue to contain coronavirus. President Trump also had a state visit to India, the largest democracy in the world, negotiated for a new treaty, and announced India’s purchase of $3 billion of US military goods. In the US economic indices continue to be mostly positive, but most surveys and analyses are based on results prior to the increased news about the coronavirus. The same can be said for US corporate earnings reports, which were mostly positive, but many provided guidance with caveats about future earnings based on, once again, coronavirus. The Stock Market Bull was noticeably absent during the week, The Stock Market Bear, aka SARS CoV-2, prevailed significantly every day to take a big win 3-0 for Week 9 and for February.

The Week 9 of 2020 tally YTD is:
The Stock Market Bull: 4 weeks
The Stock Market Bear: 4 weeks
Mixed Results: 1 week

The Month of February 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 1 month
Mixed Results: 1 month

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Filed Under: Recaps Tagged With: acquisitions, Business Intelligence, business news, DJIA, Economy, Investing, Leadership, Market Research, mergers, Money, NASDAQ, Personal Finance, Rankings, Recap, S&P 500, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 February 2020 Breaking News Recap

February 29, 2020 by admin

The PBR1000: Sweetheart Deals In February?

The PBR1000 in the Sweetheart Month of February 2020 will continue to test how much investors love their equities investments.

By Larry C. Paxton

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

***Friday, February 28

The PBRMarketTools US Stock Exchanges Recap for Week 9 and February ending 02/28/20:

DJIA ends Week 9 and February at 25,409.36, -12.36% from last Friday, -10.07 MTD, -10.96% QTD/YTD, -14.02% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 9 and February at 8,567.37, -10.54% from last Friday, -6.38% MTD, -4.52% QTD/YTD, -12.73% from record 9,817.18 set 02/19/20.

SPX ends Week 9 and February at at 2,954.22, -11.49% from last Friday, -8.41 MTD, -8.56% QTD/YTD, -12.76% from record 3,386.15 set 02/19/20.

The Week 9 of 2020 tally YTD is:
The Stock Market Bull: 4 weeks
The Stock Market Bear: 4 weeks
Mixed Results: 1 week

The Month of February 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 1 month
Mixed Results: 1 month

Taylor Morrison Homes(PBR592) authorizes up to $100 million for renewal of its stock repurchase program, expires 12/31/20. $TMHC PR link.

IDEX(PBR819) completes $125 million cash acquisition of privately-held $60 million in annual revenues provider of flow measurement systems in the oil and gas industry Flow Management Devices. $IEX PR link.

W.R. Grace(PBR903) increases its share repurchase authorization to $250 million, includes approximately $83 million remaining under its previously-announced program. $GRA PR link.

Cincinnati Bell(PBR973) amends agreement to be acquired by Brookfield Infrastructure(NYSE: BIP) from $10.50/share to $12.50/share, around $2.745 billion cash, includes debt, to close by 12/31/20. $CBB PR link.

Harley-Davidson(PBR478) President/CEO/Director Matthew Levatich steps down from all his roles after 26 years with the company, Board member Jochen Zeitz appointed as Acting President and CEO, also appointed Chairman and will continue that role when a new CEO is onboard, former Chairman Michael Cave is now Presiding Director. $HOG PR link.

Arch Coal(PBR822) CEO John W. Eaves to retire at annual meeting on 04/30/20, become Executive Chairman, succeeds James N. Chapman who will become Lead Indpendent Director, President/COO Paul A. Lang to become President/CEO, becomes member of the Board. $ARCH PR link.

The US Dept of Treasury says the US Government Natl Debt-Public on 02/27/20 is at $17.388 trillion, Intragovernmental Holdings $6.035 trillion, for Total US Government Debt of $23.423 trillion, +0.9% from 01/31/20, +5.9% from 02/28/19. USTreasury PR link.

The US Dept of Commerce/BEA says the Preliminary January 2020 Personal Income Annual Rate is at $18.981 trillion, +0.6% from December 2019, +4.0% from January 2019. USDOC PR link.

The American Automobile Assn says the US Average Price/Gallon of Gas on 02/29/20 is at $2.447, on 01/31/20 it was at $2.485, 12/31/19 $2.583, 02/28/19 $2.413. AAA PR link.

The MNI February 2020 Chicago Business Barometer(<50 is declining) is at 49.0, January 2020 was at 42.9, December 2019 48.9, February 2019 64.7. “The index moved
closer to the 50-no-change-threshold, shifting the
three-month average up to 46.7.” MNI PR link.

The U of Michigan Final February 2020 Consumer Sentiment Index is at 101.0, January 2020 was at 99.8, December 2019 99.3, February 2019 93.8. “… the domestic spread of the (corona)virus could have a significant impact on consumer spending. Importantly, the early indications suggested only a very modest impact as the Sentiment Index among consumers who mentioned the coronavirus was still quite high (just over 90.0).” UMichigan PR link.

***Thursday, February 26

Wells Fargo(PBR29 $WFC) ordered to pay $35 million by the US Securities and Exchange Commission for for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures. SEC PR link.

Dell(PBR34) authorizes new up to $1 billion share buyback program, expires in 24 months. $DELL PR link.

Facebook(PBR57) cancels its annual F8 developer conference over coronavirus concerns. -CNet $FB PR link.

PG&E(PBR181 $PCG) gets slapped with increase from $1.7 billion to $2.1 billion fine by California Public Utilities Commission for igniting a series of deadly wildfires. MarketWatch PR link.

Bed Bath & Beyond(PBR250) announces strategic restructuring program to simplify operations and reset cost structure, expects to reduce workforce by around 500. $BBBY PR link.

Zoetis(PBR471) gets US FDA approval for Simparica TrioTM (sarolaner, moxidectin, and pyrantel chewable tablets), the first once-monthly, chewable tablet in the US that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms in dogs. $ZTS PR link.

Gardner Denver(PBR788 $GDI) will replace Cimarex Energy(PBR839 $XEC) in the S&P 500, and Cimarex Energy will replace Chesapeake Energy(PBR298 $CHK) in the S&P MidCap 400 effective prior to the open of trading on 03/03/20.

Verso Corp(PBR789) authorizes up to $250 million share repurchase program. $VRS PR link.

The US Dept of Commerce/BEA says the 4Q19 2nd Estimate Gross Domestic Product remains at +2.1%, $21.727 trillion, +0.9% from 3Q19, +4.0% from 4Q18. USDOC PR link.

The US Dept of Labor says the US 4 Week Moving Average Initial Unemployment Insurance Claims for 02/22/20 is at 209,750, 01/25/20 was at 214,500, 12/21/19 219,750, 02/23/19 229,000. USDOL PR link.

FreddieMac(PBR40) says the US 30 Year Fixed Mortgage Rate Average on 02/27/20 is at 3.45% with 0.7 fees & points, 01/29/20 was at 3.51%, 12/26/19 3.74%, 2/28/19 4.35%. $FMCC PR link.

***Wednesday, February 26

Chesapeake Energy(PBR298 $CHK) in 4Q20 earnings conference call says it will be filing for a reverse stock split in a few weeks. MotleyFool PR link.

Charles Schwab(PBR302) to acquire independent investment manager of fixed income separately managed accounts with $10.5 billion in assets under management Wasmer, Schroeder & Company, LLC in an all cash purchase, terms not disclosed. $SCHW PR link.

Insight(PBR409) authorizes up to $50 million share repurchase program, to retire the repurchased shares. $NSIT PR link.

Blackstone(PBR421 $BX) has purchased 28,000 student beds – along with a further 4,000 in the pipeline – for £4.7 billion ($6.1 billion) from Goldman Sachs(PBR85) in the UK’s largest ever private real estate transaction. MarketWatch PR link.

TreeHouse Foods(PBR473) to restructure from 3 divisions(Baked Goods, Beverages and Meal Solutions), to two divisions, Snacking & Beverages and Meal Preparation. $THS PR link.

Peabody Energy(PBR490) plan to own 66.5% Arch Coal(PBR826 $ARCH) 33.5% in joint venture to combine the companies’ Powder River Basin and Colorado coal assets gets negative split decision by the US Federal Trade Commission, Peabody/Arch will take the case to federal courts. $BTU PR link.

Brink’s(PBR659) to acquire for around $860 million the majority of the cash operations of UK-based $800 million in revenues in 2019 G4S plc (LSE: GFS), a global security and cash management company, acquisition to be accomplished in phases and be completed by 12/31/20. $BCO PR link.

Thermo-Fisher Scientific(PBR118) President/CEO Marc Casper elected to additional role of Chairman, effective immediately, succeeds Jim Manzi who remains on the Board. $TMO PR link.

Huntington Ingalls(PBR364) Chairman retired Adm. Thomas B. Fargo to retire from the board after the next annual meeting of shareholders on 04/28/20, retired Adm. Kirkland H. Donald elected to be successor. $HII PR link.

PPL Corp(PBR381) Chairman/CEO William H Spence to retire as CEO effective 06/01/20, will become Non-Executive Chairman, President/COO Vincent Sorgi to become President/CEO on 06/01/20. $PPL PR link.

The US Dept of Commerce/HUD says the Preliminary January 2020 New Family Home Sales Annual Rate is at 764,000 units, +7.9% from December 2019, +18.6% from January 2019; Median Price is at $348,200, +7.4% from December 2019, +14.0% from January 2019; New Homes Available are at 324,000; Months Supply is at 5.1. USDOC PR link.

The US Energy Information Administration says the US Crude Oil Stocks on 02/21/20 are at 443.3 million barrels of oil, +2.7% from 01/24/20, -0.6% from 02/22/19. USEIA PR link.

The National Retail Federation says consumers continue to drive economy, forecasts retail sales will grow 3.5 percent to 4.1 percent. NRF PR link.

***Tuesday, February 25

Comcast(PBR32) has acquired the free, live and on-demand streaming entertainment, news, sports and more, organized in a channel guide, and features over 190 different genre-grouped channels XUMO, based in Irvine, CA, terms not disclosed. $CMCSA PR link.

Mondelez(PBR109) to acquire a significant majority interest in $500 million in revenues/2019 Give & Go, a N American provider of fully-finished sweet baked goods and owners of the famous “two-bite”® brand and the “Create-A-Treat”® brand known for cookie and gingerbread house decorating kits, to close in 2Q20. $MDLZ PR link.

Principal Financial(PBR215) authorizes up to $900 million common stock repurchase program, as of 12/31/19, approximately $168 million remained under prior authorization. $PFG PR link.

Walt Disney(PBR45) Chairman/CEO Bob Iger steps down as CEO, becomes Executive Chairman through 12/31/21, will also direct creative endeavors, Chairman/Disney Parks, Experiences and Products Bob Chapek named CEO, both effective immediately. $DIS PR link.

MasterCard(PBR206) President/CEO Ajay Banga to become Executive Chairman on 01/01/21, Chief Product Officer Michael Miebach to become President on 03/01/20, also become CEO and Board member on 01/01/21. $MA PR link.

Arconic(PBR225) CEO John Plant to be Executive Chairman/Co-CEO of spinoff Howmet Aerospace upon separation on 04/01/20 through 03/31/23, President/Arconic Engineered Structures Tolga Oal to be other Co-CEO. $ARNC PR link.

Salesforce(PBR236) Co-CEO Keith Block steps down, remaining as Advisor to the CEO, Marc Benioff now both Chairman and only CEO. $CRM PR link.

The US Federal Reserve Bank of Richmond says the February 2020 US 5th District Manufacturing Index(Annualized) is at -2%, January 2020 was at +20%, December 2019 -5%, February 2019 +14%. “… the index for local business conditions remained positive, and manufacturers were optimistic that activity would improve in the coming months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the February 2020 US 5th District Service Sector Revenue Index(Annualized) is at +26%, January 2020 was at +10%, December 2019 +17%, February 2019 +16%. “Survey participants were optimistic that activity would be strong in the next six months.” RichmondFed PR link.

The Conference Board Preliminary February 2020 Consumer Confidence Index(1985=100) is at 130.7, January 2020 was at 130.4, December 2019 128.2, February 2019 131.4. “Consumers’ short-term expectations improved, and when coupled with solid employment growth, should be enough to continue to support spending and economic growth in the near term.” TCB PR link.

The S&P CoreLogic Case-Shiller December 2019 US National Composite Home Price Index(01/2000=100) is at 212.59, November 2019 was at 212.42, October 2019 212.20, December 2018 204.90. Case-Shiller PR link.

***Monday, February 24

Intel(PBR43) makes several hardware and software announcements for 5G networks infrastructure, including the launch of the new Intel Atom® P5900, a 10nm system-on-chip (SoC) for wireless base stations. $INTC PR link.

HP(PBR55) increases its total share repurchase authorization to $15 billion, up from the $5 billion share repurchase authorization announced in 10/19, says revised Xerox(PBR308) proposal, announced on 02/10/20, meaningfully undervalues HP, creates significant risk, and compromises HP’s future, HP is reaching out to Xerox to explore if there is a combination that creates value for HP shareholders that is additive to HP’s strategic and financial plan. $HPQ PR link.

Cisco(PBR62) launches SecureX, says it unifies visibility, identifies unknown threats, and automates workflows to strengthen customers’ security across network, endpoint, cloud, and applications, is a ‘radical simplification,’ will be included in every Cisco security product. $CSCO PR link.

Intuit(PBR426) to acquire consumer technology platform with more than 100 million members in the US, Canada and UK and around $1 billion in revenues in 2019 Credit Karma for around $7.1 billion cash and stock, to close in 2H20. $INTU PR link.

Perrigo(PBR538) and partner Catalent Pharma Solutions get US FDA approval for generic albuterol sulfate inhalation aerosol, the first AB-rated generic version of Teva Respiratory’s ProAir® HFA, indicated in patients 4 years of age and older for the treatment or prevention of bronchospasm with reversible obstructive airway disease and for the prevention of exercise-induced bronchospasm. $PRGO PR link.

Perrigo(PBR538) to acquire the oral care assets of High Ridge Brands for $113 million in cash in bankruptcy sale, assets include leading children’s oral care value brand, Firefly®, in addition to the REACH® and Dr. Fresh® brands, to close in 1Q20. $PRGO PR link.

Avis Budget(PBR329) enters into a new cooperation agreement with largest shareholder SRS Investment Management, will result in SRS providing 3 people for the 9 member Board. $CAR PR link.

The US Federal Reserve Bank of Chicago says the Preliminary January 2020 US National Activity Index is at -0.25, December 2019 was at -0.51, November 2019 +0.49, January 2019 -0.07. “Index points to an uptick in economic growth in January.” ChiFed PR link.

***Friday, February 21

The PBRMarketTools US Stock Exchanges Recap for Week 8 ending 02/21/20:

DJIA ends Week 8 at 28,992.41, -1.38% from last Friday, +2.61 MTD, +1.59% QTD/YTD, -1.89% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 8 at 9,576.59, -1.59% from last Friday, +4.65% MTD, +6.73% QTD/YTD, -2.45% from record 9,817.18 set 02/19/20.

SPX ends Week 8 at at 3,337.75, -1.25% from last Friday, +3.48 MTD, +3.31% QTD/YTD, -1.43% from record 3,386.15 set 02/19/20.

The Week 8 of 2020 News Summary: The major international story continues to be the acute respiratory disease coronavirus, aka COVID-19, which is still primarily in China and has spread to some other countries as well, though still in much smaller numbers. As Chinese and world health organizations grapple with the issue the economies of countries that have major trade with China are starting to be impacted. In the US this is starting to show up in some of the 4Q19 earnings reports and guidance for 2020 comments. However, the US economy still looks very good to this point, US corporate earnings reports were still mostly positive, and business and consumer surveys continued to reflect optimism. In US politics the Democrats had a debate in Nevada, the first to include new candidate multi-billionaire Michael Bloomberg, who was immediately attacked for his trying to buy the nomination. It was a 4 day trading week with US Presidents Day being observed on Monday. The Stock Market Bull had a great day on Wednesday with the NASDAQ and SPX having record days. But The Stock Market Bear gorged himself on Thursday and Friday on the coronavirus news to take Week 8 3-0.

The Week 8 of 2020 tally YTD is:
The Stock Market Bull: 4 weeks
The Stock Market Bear: 3 weeks
Mixed Results: 1 week

Wells Fargo(PBR29) in settlement with the US Dept of Justice and the US Securities and Exchange Commission has agreed to make payments totaling $3 billion for the Company’s historical Community Bank sales practices and related disclosures. $WFC PR link.

Eli Lilly(PBR116) gets US FDA approval for Trulicity® (dulaglutide) for the reduction of major adverse cardiovascular events (MACE) in adults with type 2 diabetes who have established cardiovascular (CV) disease or multiple cardiovascular risk factors. $LLY PR link.

Cleveland-Cliffs(PBR841) $3.36/share $1.1 billion acquisition of producer of flat-rolled carbon, stainless and electrical steel products AK Steel(PBR424) gets last regulatory approval from the Mexican Competition Commission, scheduled to close on 03/13/20 when shareholders of both companies vote on the deal. $CLF PR link.

AVX(PBR931) to be acquired by 72% shareholder Kyocera Corp through all stock purchase of the 28% of common shares it does not own for $21.75/share, to close by 03/31/20. $AVX PR link.

The Natl Assn or Realtors says the January 2020 US Existing Homes Sales Annual Rate is at 5,460,000, -1.4% from December 2019, +9.6% from January 2019; Median Price is at $266,300, -3.0% from December 2019, +6.8% from January 2019; Median Days on Market is at 43 Days; Available inventory is at 1,420,000, a 3.1 Months Supply. NAR PR link.

***Thursday, February 20

HP(PBR55) adopts a limited duration shareholder rights plan to discourage proposals from companies like Xerox(PBR308) without first negotiating with the Board. $HPQ PR link.

Morgan Stanley(PBR63) to acquire online brokerage E*Trade(PBR753) for $58.74/share, around $13 billion all stock, to close in 4Q20. $MS PR link.

T-Mobile US(PBR70) acquisition of Sprint(PBR90) amended, Softbank to get 11.00 Sprint shares per T-Mobile share, up from 9.75, will result in Deutsche Telekom and SoftBank to hold approximately 43% and 24%, respectively, of the fully diluted New T-Mobile shares, with the remaining approximately 33% held by public shareholders, trying to close deal by 04/01/20. $TMUS PR link.

Eli Lilly(PBR116) completes $18.75/share around $1.1 billion cash acquisition of biopharmaceutical developer of new therapies for chronic skin conditions Dermira. $LLY PR link.

L Brands(PBR237) selling 55% interest in Victoria’s Secret unit to Sycamore Partners for $525 million, will retain 45% minority stake, positions its Bath & Body Works unit as a highly profitable, standalone public company, upon closing Chairman/CEO Leslie Wexner to step down from his roles, remain a member of the Board as Chairman Emeritus, COO of Bath & Body Works Andrew Meslow to become CEO of L Brands. $LB PR link.

Hormel Foods(PBR320) to acquire family-owned pit-smoked meats company based in Henderson, TX witn $140 million in annual revenues Sadler’s Smokehouse for $270 million cash, to close in 03/20. $HRL PR link.

Huntsman(PBR324) completes $350 million cash acquisition of $230 million in annual revenues Icynene-Lapolla, a leading N American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from FFL Partners. $HUN PR link.

Wolverine World Wide(PBR858) to receive a payment of $55 million from 3M(PBR93) for Wolverine’s efforts to address PFAS remediation to ensure long-term water quality and continued environmental remediation per US District Court Consent Decree with the State of Michigan, Plainfield Charter Township, and Algoma Township. $WWW PR link.

The US Federal Reserve Bank of Philadelphia says the February 2020 US 3rd District Manufacturing General Activity Indicator is at +36.7, January 2020 was at +17.0, December 2019 +2.4, February 2019 -0.7. “… highest reading since February 2017… future indexes indicate that respondents continue to expect growth in manufacturing activity over the next six months.” PhillyFed PR link.

The Conference Board says the January 2020 US Leading Economic Index(2016=100) is at 112.1, December 2019 was at 111.3, November 2019 111.6, January 2019 111.4. “The strong pickup in the January US LEI was driven by a sharp drop in initial unemployment insurance claims, increasing housing permits, consumers’ outlook on the economy and financial indicators… the COVID-19 outbreak may impact manufacturing supply chains in the US in the coming months.” TCB PR link.

***Wednesday, February 19

Lithia Motors(PBR255) acquires two Lexus stores in Sacramento and Roseville, CA, generate $160 million in annual revenues, terms not disclosed. $LAD PR link.

Fiserv(PBR472) completes $510 million in net after-tax proceeds sale of 60% stake in its Investment Services Business to Motive Partners, Fiserv retains a 40% equity interest in the business. $FISV PR link.

Harley-Davidson(PBR478) authorizes an additional 10 million shares for its repurchase program, which had 8.2 million shares available at the end of 2019. $HOG PR link.

Ascena Retail(PBR492) has completed the wind down of its Dressbarn brand operations, closing over 650 stores, eliminates over $300 million of lease liability. $ASNA PR link.

Scientific Games(PBR680) has developed, and Kentucky Horse Racing Commission has approved, their first generation of Historical Horse Racing machines, announces 3-way partnership with Churchill Downs and Ainsworth Game Technology. $SGMS PR link.

Endo Intl(PBR739) EVP/CFO Blaise Coleman to become President/CEO and member of the Board effective 03/06/20, succeeds Paul Campanelli who will remain Chairman. $ENDP PR link.

The US Dept of Labor says the US Preliminary January 2020 Total Monthly Demand Producer Price Index is at +0.5%, December 2019 was at +0.2%, November 2019 -0.1%, January 2019 -0.3%. USDOL PR link.

The US Dept of Commerce/Labor says the US Preliminary January 2020 Building Permits Issued-Private Housing is at 1,551,000 annual rate, December 2019 was at 1,420,000, November 2019 1,474,000, January 2019 1,316,000. USDOL PR link.

The US Federal Open Market Committee releases the minutes from the 01/28-29/20 meeting, says “Members agreed to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. Members judged that the current stance of monetary policy was appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation returning to the Committee’s symmetric 2 percent objective.” FOMC PR link.

***Tuesday, February 18

Check out The PBR1000 Spotlight on salesforce.com, #9 on the current The PBR25! $CRM PR link.

Walmart(PBR1 $WMT) expects to save $60 million annually on shopping bags. MarketWatch PR link.

Dell(PBR34) to sell its risk, security and fraud teams provider RSA to a consortium led by Symphony Technology Group, Ontario Teachers’ Pension Plan Board and AlpInvest Partners for $2.075 billion cash, to close in 6-9 months. $DELL PR link.

Fluor(PBR160) in 4Q19 report says it has reversed its decision to sell substantially all of its Government business, has gained confidence in its solid liquidity position and its viable options for generating cash flow. $FLR PR link.

Bed Bath & Beyond(PBR250) to sell its PersonalizationMall.com business to 1-800-FLOWERS.COM for $252 million. $BBBY PR link.

Group 1 Automotive(PBR262) increases share repurchase authorization by $52.4 million to $100 million. $GPI PR link.

Baxter(PBR279) completes $350 million cash acquisition of $100 million in annual revenues provider of adhesion prevention products, hemostats and sealants Seprafilm Adhesion Barrier and related assets from Sanofi. $BAX PR link.

Ally Financial(PBR294) to acquire privately held Woodbury, NY based $4.7 billion in assets non-prime credit card and consumer finance lender with a full-spectrum unsecured servicing platform and robust merchant services capability provider CardWorks for $2.65 billion cash and stock, to close in 3Q20. $ALLY PR link.

Anixter(PBR354) shareholders to vote on 04/09/20 on being acquired by WESCO(PBR365) for $100.00/share, $4.5 billion cash & stock. $AXE PR link.

Franklin Resources(PBR476) to acquire $806 billion in assets on 01/31/20 Legg Mason(PBR746) for $50.00/share cash, will also assume about $2 billion of Legg Mason’s outstanding debt, to close in 3Q20. $BEN PR link.

Groupon(PBR798) in 4Q19 report says it is proposing a reverse stock split of common stock at a ratio of between 1-for-10 and 1-for-12, to be voted on at shareholders annual meeting in 06/20. $GRPN PR link.

SL Green Realty(PBR986) to sell its 315 West 33rd Street New York City property and an adjacent undeveloped parcel of land for a gross valuation of $446.5 million, or approximately $906 square foot, to an affiliate of Brookfield Asset Management, to close in 2Q20. $SLG PR link.

DuPont(PBR35) CEO Marc Doyle and CFO Jeanmarie Desmond are leaving the company, Executive Chairman and former CEO Ed Breen adds CEO role, new CFO appointed. $DD PR link.

Dow(PBR52) CEO Jim Fitterling expected to be appointed to additional role of Chairman after annual stockholders meeting on 04/09/20. $DOW PR link.

Facebook(PBR57 $FB) CEO Mark Zuckerberg and CFO Sheryl Sandberg should be “removed from control” of Facebook for its policy on political ads according to financier George Soros in a letter to the editor of the Financial Times. MarketWatch PR link.

The US Federal Reserve Bank of New York says the US February 2020 Empire State Manufacturing General Business Conditions Index is at +12.9, January 2020 was at +4.8, December 2019 +3.3, February 2019 +10.3. “Optimism about the six-month outlook continued to be somewhat subdued, and capital spending plans remained firm.” NYFed PR link.

The Natl Assn of Home Builders Preliminary February 2020 US Housing Market Composite Index(>50=more builders view conditions as good than poor) is at 74, January 2020 was at 75, December 2019 76, February 2019 62. “Steady job growth, rising wages and low interest rates are fueling demand but builders are still grappling with increasing construction and development costs…” NAHB/WF PR link.

***Monday, February 17

***US Federal Holiday.
***US Presidents Day.
***US Stock Exchanges Closed.

Apple(PBR3) revises down 1Q20 revenue forecast, experiencing a slower return to normal conditions in China from coronavirus issues than anticipated, worldwide iPhone supply will be temporarily constrained as China factories reopen, demand for its products within China has been affected by store closures. $AAPL PR link.

General Motors(PBR14) restructuring international operations, to wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021, will focus on the GM specialty vehicle business for that market; to purchase GM’s Rayong vehicle manufacturing facility in Thailand; and to withdraw Chevrolet from the domestic market in Thailand by the end of 2020. $GM PR link.

Dean Foods(PBR383) to sell 44 of its fluid and frozen facilities and the real estate, inventory, equipment, and all other assets necessary to operate such facilities to the Dairy Farmers of America cooperative in a “stalking horse” agreement, needs to be approved by Bankruptcy Court scheduled for 03/12/20, any other bids would be due by 03/31/20. $DFODQ PR link.

Triumph Group(PBR678) combines its Integrated Systems and Product Support business units into one “Triumph Systems & Support” business effective immediately, as part of restructuring. $TGI PR link.

Pier 1 Imports(PBR957) has entered into a Plan Support Agreement with a majority of its term loan lenders and is pursuing a sale of the Company, has commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court, to complete the previously announced closure of up to 450 store locations, which includes the closure of all its stores in Canada. $PIR PR link.

***Friday, February 14

The PBRMarketTools US Stock Exchanges Recap for Week 7 ending 02/14/20:

DJIA ends Week 7 at 29,398.08, +1.02% from last Friday, +4.04 MTD, +3.01% QTD/YTD, -0.52% from record 29,551.42 set 02/12/20.

NASDAQ ends Week 7 at record 9,731.18, +2.21% from last Friday, 6.34% MTD, +8.45% QTD/YTD, +0.00% from record 9,731.18 set 02/14/20.

SPX ends Week 7 at record at 3,380.16, +1.58% from last Friday, +4.79 MTD, +9.62% QTD/YTD, +0.00% from record 3,380.16 set 02/14/20.

The Week 7 of 2020 News Summary:
The coronavirus, now also known as COV-19, was the overwhelming top news maker again this week as numbers of people affected and associated deaths continue to climb, but remains largely confined to China, which has calmed the world a little bit as it accepts that the outbreak in mostly isolated. Most economists say there will be an impact globally, and continue to try to measure what the affect has been so far and will be overall. US economic news was a little mixed on the good side. Jobs continue to be available, employee turnover is low, wages are up a little bit, and mortgage rates continue to be very reasonable. US corporate earnings continue to be mostly better than anticipated as 2019 annual reports keep pouring in. US politics was active as the first primary, New Hampshire, was pursued heavily by the Democrat candidates, and resulted in a narrow margin win by Bernie Sanders. Nevada and S Carolina are the next stops as the election cycle accelerates. The US stock exchanges responded positively the whole week. The Stock Market Bear made a brief appearance on Thursday, but The Stock Market Bull easily prevailed the other days and takes a Week 7 3-0 victory romp in the pasture.

The Week 7 of 2020 tally YTD is:
The Stock Market Bull: 4 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 1 week

MGM Resorts(PBR257) completes around $4.6 billion sale of MGM Grand Las Vegas and Mandalay Bay real estate assets to new joint venture between MGM Growth Properties and Blackstone(PBR423) Real Estate Income Trust, MGM Resorts has entered into a long-term triple net master lease for both properties, and will continue to manage, operate and be responsible for all aspects of the properties on a day-to-day basis, with the joint venture owning the properties and receiving rent payments. MGM PR link.

The US Dept of Labor says the US Preliminary January 2020 Monthly Imports Prices are at +0.0, Exports +0.7%; Last 12 Months Imports are at +0.3%, Exports +0.5%. USDOL PR link.

The US Dept of Commerce/Census says the US Preliminary December 2019 Total Sales-Manufacturers are at $504.1 billion, Retail $462.6 billion, Wholesalers $494.4 billion, Total Sales $1.461 trillion, -0.1% from November 2019, +1.7% from December 2018. USDOC PR link.

The US Dept of Commerce/Census says the US Advance January 2020 Sales-Retail are at $463.3 billion, Food Services & Drinking Places $66.5 billion, Total $529.8 billion, +0.3% from December 2019, +4.4% from January 2019. USDOC PR link.

The US Federal Reserve says the US Preliminary January 2020 Industrial Production Capacity Utilization is at 76.8%, December 2019 was at 77.1%, November 2019 77.5%, January 2019 79.0%. USFed PR link.

The Natl Assn of Home Builders/Wells Fargo says the US Preliminary January 2020 Housing Market Composite Index(>50%=more builders view conditions as good than poor} is at 75%, December 2019 was at 76%, November 2019 71%, January 19 was at 58%. NAHB/WB PR link.

The U of Michigan US Preliminary February 2020 Consumer Sentiment Index is at 100.9, January 2020 was at 99.8, December 2019 99.3, February 2019 93.8. UMichigan PR link.

***Thursday, February 13

Microsoft(PBR19 $MSFT) US federal government $10 billion cloud services JEDI contract gets temporary restraining order by federal judge per lawsuit filed by Amazon(PBR5 $AMZN) who alleged the yearslong evaluation process included “clear deficiencies, errors and unmistakable bias.” MarketWatch PR link.

Boeing(PBR28) reaches a tentative agreement with the Society of Professional Engineering Employees in Aerospace (SPEEA) on a new four-year contract extension that would run through 2026 covering approximately 18,000 engineering and technical employees, nearly all of whom are in Washington and Oregon, SPEEA membership to vote 02/24-03/09/20. $BA PR link.

Tyson(PBR72 $TSN) says pork exports to China soared nearly 600% in first quarter after swine fever outbreak, expects chicken exports to China to double, in restructuring will cut 500 jobs. MarketWatch PR link.

Tesla(PBR144) to offer approximately $2 billion of common stock, to use net proceeds to further strengthen its balance sheet, as well as for general corporate purposes. $TSLA PR link.

Kohl’s(PBR155 $KSS) restructuring program results in 250 job cuts, including regional store leaders and merchant team members, not closing any stores or corporate offices and is continuing to hire in key areas. MarketWatch PR link.

Molson Coors(PBR285 $TAP) is jumping into the hard seltzer category with Vizzy launch in 03/20. MarketWatch PR link.

eBay(PBR286) completes $4.05 billion cash sale of its StubHub unit to worldwide ticket marketplace for live sport, music and entertainment events viagogo. $EBAY PR link.

Newmont Goldcorp(PBR401) says it has gold Mineral Reserves of 100.2 million attributable ounces for 2019 compared to 65.4 million ounces at the end of 2018. $NEM PR link.

Wayfair(PBR428 $W) has cut about 3% of its global workforce, or about 550 jobs, as part of a restructuring, continues to hire for many roles. MarketWatch PR link.

Moody’s(PBR570) completes $700 million acquisition of anti-money laundering and know-your-customer data and due diligence services provider Regulatory DataCorp. $MCO PR link.

Tempur Sealy(PBR786) increases share repurchase program by over $190 million, new balance available is $300 million, expects to purchase at least $50 million of its common stock per quarter in the near term. $TPX PR link.

The US Dept of Labor says the US January 2020 Consumer Price Index-All Items is at +0.1%, December 2019 was at +0.2%, November 2019 +0.2%, January 2019 +0.0%, The Last 12 Months(Unadjusted) is at +2.5%. USDOL PR link.

The US Dept of Labor says the US Preliminary January 2020 Current Average Earnings/Hour is at $28.44, Average Hours Worked/Week is at 34.3, Current Average Weekly Earnings is at $975.49, +0.3% from December 2019, +2.5% from January 2019. USDOL PR link.

***Wednesday, February 12

Here’s the link for a brief summary on global data centers firm Equinix(PBR524), ranked 16th on The PBR25 Top Buy Stocks list on 02/04/20. $EQIX Spotlight link.

Bausch Health(PBR358) to reduce debt by $100 million using cash generated from operations. $BHC PR link.

NVR(PBR404) authorizes $300 million share repurchase program. $NVR PR link.

Worthington Industries(PBR631) to consolidate its oil and gas equipment manufacturing operation in Wooster, OH into its existing facility in Bremen, OH, to be completed by 05/31/20, 122 employees affected have option to transfer. $WOR PR link.

Elanco Animal Health(PBR719) to divest the European Economic Area and UK rights to the de-wormers for dogs and cats Drontal® and Profender® product families from Bayer AG’s (ETR: BAYN) animal health business, to French pharmaceutical company Vetoquinol SA (EURONEXT: VETO), for $140 million cash, further advances Elanco’s efforts to gain European Commission clearance for the acquisition of Bayer AG’s global animal health business. $ELAN PR link.

C.H. Robinson(PBR184) Executive Chairman John Wiehoff to retire at the 05/07/20 annual meeting, successor to be named at a later date. $CHRW PR link.

MGM Resorts(PBR257) Chairman/CEO Jim Murren to step down from both roles before the end of his contract, will stay on until successor appointed, CEO search committee formed. $MGM PR link.

HNI Corp(PBR857) President/CEO Jeff Lorenger elected to also be Chairman, effective immediately, succeeds Larry Porcellato who has been appointed Lead Director. $HNI PR link.

The US Dept of Treasury says the US January 2020 Federal Government Receipts were $372.3 billion, Outlays $404.9 billion, for Deficit of $32.6 billion; January 2019 Surplus was $8.7 billion; January 2020 YTD(4 months) Total Deficit is at $389.2 billion, January 2019 YTD Total Deficit was $310.3 billion. USTreasury PR link.

***Tuesday, February 11

Home Depot(PBR27) to hire 80,000 associates for spring. $HD PR link.

Johnson & Johnson(PBR36)’s Janssen unit to collaborate with the US Dept of Health & Human Services to accelerate development of a potential novel coronavirus vaccine. $JNJ PR link.

T-Mobile US(PBR70) $59 billion all stock acquisition of Sprint(PBR90) gets favorable decision in Federal Court in New York, remains subject to possible additional court proceedings, could close as early as 04/01/20. $TMUS PR link.

Cleveland-Cliffs(PBR843) $3.36/share $1.1 billion acquisition of producer of flat-rolled carbon, stainless and electrical steel products AK Steel(PBR424) is now scheduled to close on 03/13/20. $CLF PR link.

SeaWorld(PBR974) agrees to pay $65.0 million settlement for claims alleging violations of the US Securities and Exchange Commission, does not include an admission of fault, court must still approve. $SEAS PR link.

Beacon Roofing(PBR408) Chairman Robert R. Buck retires from the position, remains a director on the Board, Philip W. Knisely appointed as new Chairman. $BECN PR link.

The US Federal Trade Commission issues Special Orders to Alphabet(PBR17)(including Google), Amazon(PBR5), Apple(PBR3), Facebook(PBR57), and Microsoft(PBR19) to provide information and documents on the terms, scope, structure, and purpose of transactions that each company consummated between 01/01/10 and 12/31/19. USFTC PR link.

The US Dept of Labor says the US Preliminary December 2019 Job Openings-Private are at 5,739,000, Government 684,000, Total 6,423,000, -5.4% from November 2019, -14.1% from December 2018. USDOL PR link.

CoreLogic says the US November 2019 Housing Mortgages 30 Days or More Delinquent are at 3.9%, October 2019 was at 3.7%, September 2019 3.8%, November 2018 4.1%. “Overall delinquency rates remain at 20-year lows spurred on by tight underwriting standards following the onset of the Great Recession, a robust and accelerating economic cycle the past five years and the increasing underlying health of the housing economy… ” CoreLogic PR link.

***Monday, February 10

UPS(PBR41) and the Independent Pilots Association, which represents the company’s 2,959 flight crewmembers, reach a tentative agreement on a two-year contract extension, will go into effect 09/01/21, become amendable 09/01/23, if ratified. $UPS PR link.

ViacomCBS(PBR214)’s CBS Sports unit and sports book operator William Hill form a strategic partnership that makes William Hill the Official Sports Book and Wagering Data Provider across all CBS Sports platforms, will tip off with initial integrations in 03/20 on CBS Sports digital platforms, with a full rollout planned for the fantasy football season. $VIAC PR link.

Xerox(PBR308) to launch a tender offer on or around 03/02/20 for all of the outstanding shares of common stock of HP(PBR55) for $24.00/share, $18.40 in cash and 0.149 Xerox shares for each HP share. $XRX PR link.

Simon Property(PBR484) to acquire 80% of owners, managers and/or leasors of 26 super-regional shopping centers in the US and Asia Taubman Centers(NYSE: TCO) for $52.50/share cash, around $3.6 billion, Taubman family retains 20% ownership, to close mid-2020. $SPG PR link.

Equifax(PBR670) CEO Mark W. Begor issues a statement of thanks to the FBI for the US Dept of Justice’s indictment of four individual members of the People’s Liberation Army, the armed forces of the People’s Republic of China, in connection with the theft of consumer data in 2017. $EFX PR link.

Verso Corp(PBR790) has completed the $400 million sale of its Androscoggin Mill, located in Jay, ME, and its Stevens Point Mill, located in Stevens Point, WI, to Pixelle Specialty Solutions. $VRS PR link.

Genesco(PBR865) to move its current Nashville, TN, corporate headquarters into a new 310,000 sf facility in Nashville in early 2021. $GCO PR link.

Edgewell Personal Care(PBR873) terminates $1.37 billion cash/stock acquisition of New York, NY-based 900 employees razor products provider Harry’s because of recent US Federal Trade Commission lawsuit. $EPC PR link.

GATX(PBR976) to sell its American Steamship Company business, the operator of the largest fleet of US-flagged vessels on the Great Lakes, to Rand Logistics for $260 million. $GATX PR link.

Avis Budget(PBR329) appoints Bernardo Hees to the Board and as Independent Chairman, effective immediately, succeeds Leonard Coleman who remains a Board director. $CAR PR link.

***Friday, February 7

The PBRMarketTools US Stock Exchanges Recap for Week 6 ending 02/07/20:

DJIA ends Week 6 at 29,102.51, +3.00% from last Friday/MTD, +1.98% QTD/YTD, -0.94% from record 29,379.77 set 02/06/20.

NASDAQ ends Week 6 at 9,520.51, +4.04% from last Friday/MTD, +6.11% QTD/YTD, -0.54% from record 9,572.15 set 02/07/20.

SPX ends Week 6 at 3,327.71, +3.17% from last Friday/MTD, +3.00% QTD/YTD, -0.54% from record 3,345.78 set 02/06/20.

The Week 6 of 2020 News Summary:
The major international news story continues to be the continuing increase of cases of and deaths from the coronavirus in China and concern for its spread throughout the world. In China many businesses have been shut down, including most multinational companies. Airlines have cut or reduced flights as well. Arrival destinations from China and some cruise ships are quarantined as well. Medical science is trying to catch up with vaccines and tests, but it will take some time for those to catch up. In other news, China is going to cut tariffs by 50% on $75 billion of US goods. The US economy continues to show strength, with a surprising robust set of jobs reports to end the week. 4Q19 corporate earnings reports are better than expected as well. 1Q20 should, however, be affected by the coronavirus threat. In US politics the US Senate impeachment trial came to an end and, as expected, President Trump was acquitted of the two charges leveled against him by the US House, with the vote along political party lines. Tuesday night President Trump gave the annual State of the Union address to rave reviews or disgust, once again along party lines. The 2020 presidential election started in earnest with caucuses in Iowa, but technology glitches prevented it from proclaiming a winner on a timely basis, but preliminary results for the Democratic party being a bit of surprise. Candidate Michael Bloomberg was not a part of this initial test for candidates, but is spending big time in the Super Tuesday states. The Stock Market Bear seemed to have come down with something like the coronavirus and disappeared for the first 4 days of Week 6, but came charging back on Friday. The Stock Market Bull easily prevailed for the week, however, with new closing highs recorded on all 3 major US exchanges on Thursday. Next week is up for grabs.

The Week 6 of 2020 tally YTD is:
The Stock Market Bull: 3 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 1 week

Fidelity Natl Financial(PBR388) to acquire annuity and life insurance products provider FGL Holdings (NYSE: FG) for $12.50/share, around $2.7 billion, to close by end of 3Q20. $FNF PR link.

HanesBrands(PBR424) authorizes new up to 40 million shares repurchase program, no expiration date, replaces previous authorization approved in 04/16. $HBI PR link.

Penn Natl Gaming(PBR650) gets its first pro league agreement with multi-year partnership to become the first authorized gaming operator of NASCAR in the US, also extends Kansas Speedway race title sponsorship through 2026. $PENN PR link.

Stericycle(PBR661) to sell its 2,000 employees Domestic Environmental Solutions business, excluding the healthcare customer and unused consumer pharmaceutical take-back services, to Harsco(PBR943) for $462.5 million in cash, to close in 1Q20. $SRCL PR link.

The US Dept of Labor says the US January 2020 Employed is at 158,714,000, -89,000 from December 2019, +2,087,000 from January 2019; Unemployed is at 5,892,000, +139,000 from December 2019, -623,000 from January 2019; Unemployment Rate is at 3.6%, December 2019 was at 3.5%, January 2019 4.0%. USDOL PR link.

The US Federal Reserve says the US Preliminary December 2019 Consumer Credit Outstanding-Revolving is at $1.098 trillion, Non-Revolving $3.099 trillion, Total $4.197 trillion, +0.5% from November 2019, +4.7% from December 2018. USFed PR link.

The US Dept of Commerce/Census says the US Preliminary December 2019 Wholesale Sales-Durable Goods are at $232.7 billion, Non-Durable Goods $261.6 billion, Total $494.3 billion. USDOC PR link.

The FannieMae(PBR22) US January 2020 Home Purchase Sentiment Index is at 93.0, December 2019 was at 91.7, November 2019 91.5, January 2019 84.7. “Low rates continue to be a key driver of consumer optimism about both current homebuying and home-selling conditions. Favorable views on job security and personal financial expectations reflect the strength of the labor market, which we believe will continue to bolster housing demand.” $FNMA PR link.

***Thursday, February 6

The PBR25 Buy Stocks By Analyst Recommendations as of 01/31/20 has been released. Check out the summary!

Amazon(PBR5) to open first fulfillment center in Iowa, to be located in Bondurant, 645,000 sf facility, to create 1,000 new full-time jobs, to launch in late 2020. $AMZN PR link.

Johnson & Johnson(PBR36 $JNJ) ordered to pay $750 million in punitive damages to four people who said their use of the company’s talcum powders caused a rare cancer, New Jersey judge plans to reduce amount to around $187 million, JNJ plans to appeal. MarketWatch PR link.

Nike(PBR81) transitioning its Nike Brand business in Brazil, Argentina, Chile and Uruguay to strategic distributor partnerships, will recognize a one-time, non-recurring charge related to foreign exchange of approximately $425 million. $NKE PR link.

Lear Corp(PBR148) authorizes increase in share repurchase authorization to $1.5 billion, had $1.2 billion balance at end of 2019, extends expiration date to 12/31/22. $LEA PR link.

Arconic(PBR226) Board approves completion of separation into two independent, publicly traded companies, existing company will be renamed Howmet Aerospace Inc, to change ticker from ARNC to HWM, Arconic Rolled Products Corporation to be named Arconic Corporation with ticker ARNC, to be effective on 04/01/20. $ARNC PR link.

JCPenney(PBR261) announces a new assortment of jeans with a complete reimagination of its women oriented a.n.a brand, focused on denim customers, includes size-inclusive selection for all body shapes and sizes. $JCP PR link.

Intercontinental Exchange(PBR454) says following its earnings call it has decided to cease exploring strategic opportunities with eBay(PBR286). $ICE PR link.

Agilent Technologies(PBR517) to receive $22.5 million from Twist Bioscience in intellectual property litigation settlement. $A PR link.

Taylor Morrison Homes(PBR593) completes $21.45/share, $2.5 billion cash & stock acquisition of William Lyon Homes (NYSE: WLH), creates 5th largest US homebuilder. $TMHC PR link.

Brink’s(PBR660) authorizes a $250 million shares repurchase program, expires 12/31/21, replaces previous authorization. $BCO PR link.

Twitter(PBR726) in 4Q19 report says average monetizable daily active usage reached 152 million, +21% year-over-year, has first $1+billion in revenues quarter. $TWTR PR link.

UNISYS(PBR764) to sell its 1,900 employees $689 million in revenues for year ending 09/30/29 US Federal business to SAIC(PBR545) for $1.2 billion, to close in 1H20. $UIS PR link.

The New York Times(PBR938) in 4Q19 says it now has 5,251,000 digital subscribers, gained 1+ million subscribers in 2019. $NYT PR link.

The US Dept of Labor says the US Preliminary 4Q19 Labor Productivity Output/Hour Annual Rate-Business Sector is at +1.1%, 3Q19 was at -0.2%, 2Q19 +2.8%, 4Q18 +0.0%. USDOL PR link.

***Wednesday, February 5

Merck(PBR73) to spin-off products from its Women’s Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company with 10,000+ employees, to close in 1H21. $MRK PR link.

YUM China(PBR353) launches the “Restaurant Management Team (RMT) Family Care Fund” to provide additional health protection for family members of restaurant management employee, will start in 07/20 and cover an estimated 86,000 parents, spouses and children of more than 31,000 RMT employees. $YUMC PR link.

Ametek(PBR535) acquires Orange, CA based $40 million in annual sales high-reliability, ruggedized uninterruptible power systems provider IntelliPower for around $115 million. $AME PR link.

Barnes Group(PBR963) completes divestiture of its $60 million in annual revenues developer and producer of retaining rings, fasteners, snap rings Seeger-Orbis to the Kajo Neukirchen Group. $B PR link.

Peabody Energy(PBR487) and largest shareholder Elliott Management names 3 members of Elliott to the Board, as well as 1 to be mutually agreed upon in the future, to be effective at the 05/20 annual meeting. $BTU PR link.

Albermarle(PBR676) Chairman/CEO Luke Kissam to retire from his roles, effective 06/20, for health reasons. $ALB PR link.

The US Dept of Commerce/Census says the US Preliminary December 2019 Exports-Goods are at $137.7 billion, Services $71.9 billion, Total Exports $209.6 billion; Imports-Goods are at $207.5 billion, Services $51.1 billion, Total Imports $258.6 billion; Deficit-Goods is at $69.8 billion, Surplus-Services $20.8 billion, Total Deficit $49.0 billion, December 2018 Total Deficit was $60.8 billion; Total 2019 Exports were $2.500 trillion, Imports $3.117 trillion, Total Deficit $616.9 billion, 2018 Total Deficit was $627.3 billion. USDOC PR link.

ADP(PBR220) says the US January 2020 Change In Employment is at +291,000, +94,000 from Small Businesses, +128,000 Mid-Sized Businesses, +69,000 Large Businesses; +54,000 came from the Goods Producing Sector, +237,000 from the Services Sector. $ADP PR link.

The Institute for Supply Management says the US January 2020 Non-Manufacturing Index(>50%=Economy Expanding) is at 55.5%, December 2019 was at 55.0%, November 2019 53.9%, January 2019 56.7%. “The respondents remain mostly positive about business conditions and the overall economy. Respondents continue to have difficulty with labor resources.” ISM PR link.

The IHS Markit US January 2020 Manufacturing & Services Composite PMI Output Index is at 53.3, December 2019 was at 52.7, November 2019 52.0, January 2019 54.4. “Business activity rose at the fastest pace since last March in January amid a sharper expansion in service sector output.” IHS Markit PR link.

***Tuesday, February 4

The January 2020 PBR US Economic Indices Snapshot has been released. USI info.

Amazon(PBR5) opens new 48,000 square foot office for Alexa tech teams located in downtown Santa Barbara, CA, plans to create 150 new tech jobs. $AMZN PR link.

Walt Disney(PBR45) announces new Disney+ streaming service has signed up 28.6 million subscribers since its start on 11/12/19. $DIS PR link.

Macy’s(PBR115) announces 3 year Polaris strategy, includes launch of next phase of successful Macy’s Star Rewards loyalty program, plans to build four $1 billion power private brands, closing approximately 125 stores in lower tier malls within three years, and exploring new off-mall formats, establishes single corporate headquarters and relocates digital business to New York City. $M PR link.

eBay(PBR286 $EBAY) gets letter from activist investor Starboard Value saying the Classifieds unit must be sold off and a more aggressive operating plan put in place. Starboard Value PR link.

eBay(PBR286) responds to Starboard Value letter, says it will review the letter, reviews actions taken in recent years. $EBAY PR link.

Leidos(PBR299) to acquire the L3Harris Technologies(PBR459) Security Detection and Automation businesses, have 1,200 employees, for $1 billion cash, to close by end of 2Q20. $LDOS PR link.

Huntington Ingalls(PBR371) to acquire Kongsberg Maritime’s wholly owned indirect subsidiary Pocasset, MA based advanced marine robotics technology provider Hydroid for $350 million, to close in 2Q20. $HII PR link.

Scientific Games(PBR681) confirms it has expanded its partnership with Flutter Entertainment to cover online and mobile sports betting and iGaming content offering with FanDuel in the US. $SGMS PR link.

Prologis(PBR768) completes $12.6 billion all stock acquisition of US logistics REIT Liberty Property Trust (NYSE: LPT). $PLD PR link.

Wendy’s(PBR954) introduces new breakfast menu, options include fresh, hand-cracked eggs on every sandwich, and savory Applewood smoked bacon, starts 03/02/20. $WEN PR link.

Oshkosh(PBR357) director Stephen D. Newlin appointed independent Chairman, succeeds Craig P. Omtvedt who remains on the Board. $OSK PR link.

The US Dept of Commerce/Census says the US Preliminary December 2019 Manufacturers New Orders-Durable Goods is at $245.6 billion, Non-Durable Goods $253.8 billion, Total $499.4 billion, +1.8% from November 2019, -0.1% from December 2018. USDOC PR link.

The PurdueU/CME Group US January 2020 Ag Economy Composite Index is at 167, December 2019 was at 150, November 2019 153, December 2018 127. “Virtually all of the rise in this month’s barometer was attributable to a sharp rise in optimism about future conditions in agriculture… coincided with President Trump’s signing of the Phase One Trade Agreement between the U.S. and China on January 15th.” PurdueU/CME Group PR link.

***Monday, February 3

AECOM(PBR156) completes $2.405 billion sale of its Management Services business to affiliates of American Securities LLC and Lindsay Goldberg LLC, AECOM to focus on its higher-returning and lower-risk Professional Services business. $ACM PR link.

Alcoa(PBR235) completes $250 million sale of its 1,300-acre hazardous waste treatment business in Gum Springs, AR, to Veolia ES Technical Solutions. $AA PR link.

Brookdale Senior Living(PBR522) completes 3 transactions with Healthpeak Properties(PBR915), including sale of 14 community venture, acquisition of 18 previously leased communities, and restructure of remaining 24-community lease. $BKD PR link.

Edgewell Personal Care(PBR873) $1.37 billion cash/stock acquisition of New York, NY-based 900 employees razor products provider Harry’s is challenged by the US Federal Trade Commission, Edgewell says it will respond in due course. $EPC PR link.

Regis Corp(PBR998) will sell its 55% interest in Empire Education Group, an operator of accredited cosmetology schools, in exchange for de minimis cash compensation, an exclusive private label supply agreement, and an employer of choice arrangement. $RGS PR link.

Sonoco Products(PBR502) President/CEO/Director Robert C. Tiede retires from all roles, SVP Paper/Industrial Converted Products Howard Coker elected President/CEO/Director, effective immediately. $SON PR link.

Intuitive Surgical(PBR636) Chairman Lonnie M. Smith to retire at annual meeting in 04/20, independent lead director Dr. Craig H. Barratt to be successor. $ISRG PR link.

The US Dept of Commerce/Census says the US Preliminary December 2019 Construction Spending Annual Rate-Residential is at $548.0 billion, Non-Residential $779.6, Total $1,327.7 billion, -0.2% from November 2019, +5.0% from December 2018. USDOC PR link.

The Institute for Supply Management says the US Preliminary January 2020 Manufacturing PMI Index(>50%=Economy Expanding) is at 50.9%, December 2019 was at 47.2%, November 2019 48.1%, January 2019 56.6%. “The PMI® returned to expansion territory for the first time since July 2019… Overall, sentiment this month is moderately positive regarding near-term growth..,” ISM PR link.

The IHS Markit US January 2020 Manufacturing PMI Index is at 51.9, December 2019 was at 52.4, November 2019 52.6, January 2019 54.9. “U.S. manufacturing firms indicated a slower overall improvement in operating conditions in January, in part stemming from a renewed drop in export orders.” IHS Markit PR link.

***Sunday, February 2

Super Bowl LIV: The Kansas City Chiefs come from behind to win over the San Francisco 49ers 31-20 at Hard Rock Stadium in Miami, Florida. Highlights.

***Friday, January 31

The PBRMarketTools US Stock Exchanges Recap for Week 5 ending 01/31/20:

DJIA ends Week 5 at 28,256.03, -2.53% from last Friday, -0.99% MTD/QTD/YTD, -3.72% from record 29,348.10 set 01/17/20.

NASDAQ ends Week 5 at 9,150.94, -1.76% from last Friday, +1.99% MTD/QTD/YTD, -2.68% from record 9,402.48 set 01/23/20.

SPX ends Week 5 at 3,225.52, -2.12% from last Friday, -0.16% MTD/QTD/YTD, -3.13% from record 3,329.62 set 01/17/20.

The Week 5 of 2020 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 1 week

The Month 1 of 2020 tally YTD is:
The Stock Market Bull: 0 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

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Filed Under: Recaps Tagged With: acquisitions, Business Intelligence, business news, DJIA, Economy, Investing, Investments, Investors, Leadership, Market Research, mergers, Money, NASDAQ, Personal Finance, Rankings, Recap, S&P 500, Snapshots, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 January 2020 Stocks & Commodities Snapshots

February 4, 2020 by admin

January 2020 The PBR1000:
A Mixed Start for the New Year

January closed out in mixed territory, hit by the China coronavirus scare, an impeachment trial of the US president, but a good US economy for an interesting start to 2020.

By Larry C. Paxton

The PBRMarketTools US Stock Exchanges Recap for January 2020 ending 01/31/20:

DJIA ends January at 28,256.03, -2.53% from last Friday, -0.99% MTD/QTD/YTD, -3.72% from record 29,348.10 set 01/17/20.

NASDAQ ends January at 9,150.94, -1.76% from last Friday, +1.99% MTD/QTD/YTD, -2.68% from record 9,402.48 set 01/23/20.

SPX ends January at 3,225.52, -2.12% from last Friday, -0.16% MTD/QTD/YTD, -3.13% from record 3,329.62 set 01/17/20.

The Week 5 and Month 1 of 2020 News Summary: The first 3 weeks of January were a carry forward from the end of 2019 with business as usual. But then the world was hit with the news about the coronavirus originating in China and being spread globally, with a warning of catastrophic consequences if left uncontained. Globally governments and businesses are wrestling with what to do, are attempting to be proactive, a state of emergency has been issued by the World Health Organization, and by many nations, including the US. The other major news item is the US Senate impeachment trial of President Trump. After 3 day opening arguments by the US House Managers and then 3 days by Counsel for the President, a 2 day Q&A period, the US Senate voted to not allow witnesses by a 49-51 tally. It appears highly likely that President Trump will be acquitted. The Democrat presidential candidates, 4 of whom are senators involved in the impeachment trial, get their first test in Iowa in the opening week of February. On the international stage the UK will officially accomplish Brexit, with results uncertain for the UK and Europe. President Trump signed the US/Mexico/Canada(USMCA) trade agreement to replace NAFTA, with promises that it will be fairer and bring manufacturing jobs back to the US. During the month the US/China Phase 1 trade agreement was signed by leaders of the countries. Overall, the US economy continued to show moderate growth, the Federal Open Market Committee kept short term federal interest rates at the 1.50-1.75%, and consumer and business surveys continued to indicate optimism for the next 6 months. In the early weeks of the month The Stock Market Bull ruled the pasture and new record highs were established. But The Stock Market Bear came out of hibernation, had a voracious appetite, and spurred on by the coronavirus scare, savagely attacked The Stock Market Bull, chased him out of the pasture and started feasting on the herd. The Stock Market Bear easily won Week 5 3-0, but the NASDAQ prevented him from also claiming the month, which ended with a 2-1 mixed result.

The Week 5 of 2020 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 1 week

The Month 1 of 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 0 months
Mixed Results: 1 month

The January 2020 US Major Stock Market Exchanges Summary

Number of Trading Days: 21

Number of Gain(+)/Loss(-) Days: DJIA 12+/9-; NASDAQ 13+/8-; SPX 12+/9-.

Record Days: DJIA 5, NASDAQ 7, SPX 6

Longest Gain Streak(Consecutive Days): DJIA 4 days(01/13-17/20), NASDAQ 3 days(01/15-17/20, 01/28-30/20), and SPX 3 days(01/15-17/20)

Longest Loss Streak(Consecutive Days): DJIA 5 days(01/21-27/20), NASDAQ 2 days(01/24-27/20), and SPX 2 days(01/24-27/20)

Big Swing Up Days(>1.00%): 4 days, 01/02/20(D +1.16%, N +1.33%), 01/13/20(N +1.04%), 01/16/20(N +1.06%), 01/28/20(N +1.43%, S +1.01%)

Big Swing Down Days(<-1.00%): 2 days, 01/27/20(D -1.57%, N -1.89%, S -1.57%), 01/31/20(D -2.09%, N -1.59%, S -1.77%)

The PBR1000 January 2020 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 January 2020 Snapshots. The price for stocks is for the close of trading on January 31, 2020, Month % Chg is compared to December 31, 2019, 12 Months % Chg is compared to January 31, 2019, and the 24 Months % Chg is compared to January 31, 2018. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the January 2020 edition with the complete 15 Snapshots and 28 rankings and the bonuses The PBRMarketTools US Monthly Indices Snapshots and The PBR25 Top Buy Stocks.

Table 1(S11): The PBR1000 Top 5 Month Stock Price % Gainers

Table 1 Summary: The range was +56% to -89%. 354 out of 1,000 stocks were up 0% or more. The average was a loss of 1.58%, the median was a loss of 3.31%. The DJIA was -0.99%, NASDAQ +1.99%, SPX -0.16%.

Company	PBR Rank	Symbol	Price 01/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
Tesla	146	TSLA	$ 650.57	+56	+112	+84
Community Health	220	CYH	$ 4.29	+48	+9	-24
PG&E	181	PCG	$ 15.21	+40	+17	-64
Clearwater Paper	942	CLW	$ 28.20	+32	-16	-40
Cincinnati Bell	973	CBB	$ 13.71	+31	+64	-21

Table 2(S12): The PBR1000 Top 5 12 Months Stock Price % Gainers

Table 2 Summary: The range was +175% to -99%. 607 out of 993 stocks were up 0% or more. The average was a gain of 14.72%, the median was a gain of 8.82%. The DJIA was +13.03%, NASDAQ +25.67%, SPX +19.28%.

Company	PBR Rank	Symbol	Price 01/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
Snap	989	SNAP	$ 18.37	+12	+175	+36
Diebold Nixdorf	552	DBD	$ 11.51	+9	+171	-38
Tesla	146	TSLA	$ 650.57	+56	+112	+84
Sonic Auto	306	SAH	$ 31.63	+2	+107	+47
AMD	441	AMD	$ 47.00	+2	+93	+242

Table 3(S13): The PBR1000 Top 5 24 Months Stock Price % Gainers

Table 3 Summary: The range was +242% to -99%. 470 out of 978 stocks were up 0% or more. The average was a gain of 9.39%. The median was a loss of 1.75%. The DJIA was +8.06%, NASDAQ +23.47%, SPX +14.23%.

Company	PBR Rank	Symbol	Price 01/31/20	Mo % Chg	YTD % Chg	24 Mos % Chg
AMD	955	AMD	$ 47.00	+2	+93	+242
Crocs	442	CROX	$ 37.91	-10	+32	+181
FTI Consulting	996	FCN	$ 120.06	+8	+76	+176
Rent-A-Center	534	RCII	$ 29.13	+1	+66	+169
Chipotle	796	CMG	$ 866.76	+4	+64	+167

Table 4(S15): The PBR1000 Top 5 Market Capitalization

Table 4 Summary: The range was $1,417 billion to $0.01 billion. The average is $30.844 billion, median is $8.30 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 01/31/20	Mo % Chg	12/17 % Chg	12/14 % Chg
Apple	3	AAPL	$ 1,417 B	+10	+62	+119
Microsoft	19	MSFT	$ 1,314 B	+9	+99	+243
Alphabet	17	GOOG	$ 1,004 B	+9	+37	+181
Amazon	5	AMZN	$ 927 B	+1	+67	+545
Facebook	57	FB	$ 598 B	+3	+17	+175
The PBR1000			$ 30,844 B	+2	+19	+55

Table 5: The PBR1000 Index & Primary US Stock Exchanges/Commodities

Company	Price 01/31/20	Mo % Chg	12 Mos % Chg	24 Mos % Chg
The PBR1000	97,446.97	-1.6	+14.2	+9.4
DJIA	28,256.03	-1.0	+13.0	+8.1
NASDAQ	9,150.94	+2.0	+25.7	+23.5
S&P500	3,225.52	-0.2	+19.3	+14.2
GOLD	1,593.40	+4.8	+20.4	+18.6
SILVER	18.03	+0.7	+12.8	+4.6
OIL	51.63	-15.7	-4.1	-20.2

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Disclaimers: The PBR1000 is compiled from a variety of publicly available resources. As such, PBRMarketTools.com is not responsible for the data itself. Any liability for the representations or decisions based on the data is solely the responsibility of the authorized user, not PBRMarketTools.com, its employees or affiliates. PBRMarketTools.com is a provider of news, data, and analysis, and is not a financial advisor firm.

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Filed Under: Snapshots Tagged With: Business Intelligence, Commodities, DJIA, Economy, Investing, Investments, Investors, Market Research, Money, NASDAQ, Personal Finance, Rankings, Snapshots, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 January 2020 Breaking News Recap

February 1, 2020 by admin

The PBR1000: What Surprises Will There Be In 2020?

The US has experienced unprecedented economic growth for over a decade. Can it continue into 2020? How will elections, trade negotiations, an impeachment process, threats of war, and slowing global growth impact the US? It will be an interesting year for sure!

By Larry C. Paxton

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

***Friday, January 31

The PBRMarketTools US Stock Exchanges Recap for Week 5 ending 01/31/20:

DJIA ends Week 5 at 28,256.03, -2.53% from last Friday, -0.99% MTD/QTD/YTD, -3.72% from record 29,348.10 set 01/17/20.

NASDAQ ends Week 5 at 9,150.94, -1.76% from last Friday, +1.99% MTD/QTD/YTD, -2.68% from record 9,402.48 set 01/23/20.

SPX ends Week 5 at 3,225.52, -2.12% from last Friday, -0.16% MTD/QTD/YTD, -3.13% from record 3,329.62 set 01/17/20.

The Week 5 of 2020 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 1 week

The Month 1 of 2020 tally YTD is:
The Stock Market Bull: 0 months
The Stock Market Bear: 0 months
Mixed Results: 1 month

Johnson & Johnson(PBR36 $JNJ) is ordered to pay $343.99 million in California Dept of Justice case over pelvic mesh issues class action suit. CA DOJ PR link.

PG&E(PBR182) submits Chapter 11 Plan of Reorganization testimony to California state regulators and Updated Plan of Reorganization to bankruptcy court, remains on track to have its Chapter 11 Plan confirmed by 06/30/20 deadline. $PCG PR link.

JCPenney(PBR261) gets notification from the New York Stock Exchange (NYSE) saying it is no longer in compliance with NYSE continued listing criteria, requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period, has 6 months to regain compliance, JCP plans to be in compliance, may do a reverse stock split. $JCP PR link.

Leidos(PBR299) completes $1.65 billion cash acquisition of privately-owned Huntsville, AL based applied research and national security solutions company Dynetics. $LDOS PR link.

The US Dept of the Treasury says the US 01/30/20 National Debt-Public is at $17.194 trillion, Intragovernmental $6.057 trillion, Total Debt $23.251 trillion, +0.2% from 12/31/19, +5.8% from 01/31/19. USTreasury PR link.

The US Dept of Labor says the US 4Q19 Employment Cost Index-Civilian Workers(12/2005=100) is at 138.9, 3Q19 was at 138.0, 2Q19 137.0, 4Q18 135.2. USDOL PR link.

The US Dept of Commerce/BEA says the US Preliminary December 2019 Personal Income Annual Rate is at $18.922 trillion, +0.2% from November 2019, +3.9% from December 2018. USDOC PR link.

The Federal Reserve Bank of Chicago says the US 7th District Preliminary December 2019 Midwest Economy Index is at -0.44, November 2019 was at -0.48, October 2019 -0.41, December 2018 +0.09. ChiFed PR link.

The U of Michigan US Final January 2020 Consumer Sentiment Index is at 99.8, December 2019 was at 99.3, November 2019 96.8, January 2019 91.2. “The resilience of consumers is remarkable and due to record low unemployment, record gains in income and wealth, as well as near record lows in inflation and interest rates.” UMichigan PR link.

MNI Indicators says the January 2020 Chicago Business Barometer(<50 = Declining) is at 42.9, the lowest level since
December 2015, December 2019 was at 48.9, November 2019 46.3, January 2019 56.7. MNI PR link.

The American Automobile Assn says the US 01/31/20 Average Gas Price/Gallon is at $2.485, -3.8% from 12/31/19, +10.0% from 01/31/19. AAA PR link.

***Thursday, January 30

American Airlines(PBR67) and the TWU-IAM Association reached tentative agreements this week for new joint collective bargaining agreements that cover more than 31,000 Maintenance & Related and Fleet Service team members. $AAL PR link.

Raytheon(PBR106) in 4Q19 says Forcepoint now wholly owned after $588 million purchase of Vista Equity Partners’ interest, merger with United Technologies(PBR48) to close in early 2Q20. $RTN PR link.

Altria(PBR112) in 4Q19 report records a non-cash pre-tax impairment charge of $4.1 billion related to its investment in JUUL, primarily due to the increased number of legal cases pending against JUUL and the expectation that the number of legal cases against JUUL will continue to increase; Altria and JUUL revise their terms for investment in JUUL. $MO PR link.

Navistar(PBR275) receives an unsolicited proposal from TRATON SE to acquire Navistar for $35/share cash. $NAVI PR link.

Spirit AeroSystems(PBR403) to restart production slowly, ramping up deliveries throughout the year to reach a total of 216 MAX shipsets delivered to Boeing(PBR28) in 2020, does not expect to achieve a production rate of 52 shipsets per month until late 2022, production rate subject to change. $SPR PR link.

Taylor Morrison Homes(PBR592) and William Lyon Homes (NYSE: WLH) shareholders approve $21.45.share, $2.4 billion cash & stock deal for TMH to acquire WLH, closing moved up to early 02/20. $TMHC PR link.

IBM(PBR38) Chairwoman/CEO Virginia Rometty to retire from CEO role, will be Executive Chairman, SVP for Cloud and Cognitive Software Arvind Krishna to become CEO, effective 04/06/20. $IBM PR link.

The US Dept of Commerce says the US 4Q19 Gross Domestic Product Annual Rate is at +2.1%, 3Q19 was at +2.1%, 4Q18 +1.1%; the Annual GDP is at $21.340 trillion, +0.9% from 3Q19, +4.0% from 4Q18. USDOC PR link.

The US Dept of Labor says the US 4 Week Moving Average Initial Jobless Claims on 01/25/20 is at 214,500, -5.9% from 12/21/19, -2.6% from 01/26/19; Total Insured Unemployment on 01/18/20 is at 1,755,500, +3.1% from 12/14/19, +1.0% from 01/19/20; Insured Unemployment Rate remains at 1.2%. USDOL PR link.

The US Dept of Commerce/Census says the US 4Q19 Total Housing Units is at 140,074,000, +289,000 from 3Q19, +1,153,000 from 4Q18, Occupied is at 123,952,000 for a Occupancy Rate of 88.5%, Owner Occupied is at 80,676,000, for a Homeownership Rate of 65.1%, 3Q19 was at 64.8%, 4Q18 64.8%. USDOC PR link.

FreddieMac(PBR40) says the US Average 30 Year Fixed Mortgage Rate Weekly Average on 01/30/20 is at 3.51% with 0.7 points/fees, 12/26/19 was at 3.74%, 11/27/19 3.68%, 01/31/19 4.46%. “This week’s mortgage rates were the second lowest in three years, supporting homebuyer demand and leading to higher refinancing activity.” $FMCC PR link.

***Wednesday, January 29

The Happy New Year Special for The PBR1000, the highly acclaimed research tool used by shrewd investors worldwide, ends this Friday. Get it now! The PBR1000 HNY2020 Special.

Berkshire Hathaway(PBR4 $BRKA) to sell its $373.4 million in 2019 revenues BH Media Group’s business news publications and The Buffalo News to Lee Enterprises(NYSE: LEE) for $140 million in cash with Berkshire Hathaway providing approximately $576 million in long-term financing to Lee at a 9% annual rate, will be Lee’s sole lender. -Lee Enterprises $LEE PR link.

Johnson & Johnson(PBR36) has initiated a project to develop a preventive coronavirus vaccine, expects to start testing later in the year. $JNJ PR link.

UPS(PBR41) takes minority stake in electric car manufacturer Arrival, commits to purchasing 10,000 of Arrival’s vehicles – purpose built for UPS. $UPS PR link.

Facebook(PBR57 $FB) discloses it has reached a $550 million settlement in a class-action with the State of Illinois over its use of facial-recognition technology in Illinois. MarketWatch PR link.

Tesla(PBR144) releases 4Q19 report, 2019 revenues of $24.6 billion, loss of $862 million, anticipates 500,000 Model 3 & Model Y vehicles to be produced at its Fremont, CA factory in 2020. $TSLA PR link.

Tesla(PBR144 $TSLA) is expecting a one to one-and-a-half week delay in the ramp of Shanghai-built Model 3 due to a government-required factory shutdown related to the deadly coronavirus. MarketWatch PR link.

PG&E(PBR182 $PCG) still plans to emerge from Chapter 11 bankruptcy by the end of 06/30/20, California Governor Gavin Newsom threatens state take over of the nation’s largest utility. MarketWatch PR link.

Stanley Black & Decker(PBR227) to acquire specialty fasteners & components for the aerospace & defense markets manufacturer Consolidated Aerospace Manufacturing, LLC (CAM) for up to $1.5 billion, based on Boeing(PBR28) 737 MAX receiving FAA authorization to return to service and Boeing achieving certain production levels. $SWK PR link.

IDEX(PBR820) to acquire privately-held $60 million in annual revenues provider of flow measurement systems in the oil and gas industry Flow Management Devices for $125 million cash, to close in 1Q20. $IEX PR link.

The US Federal Open Market Committee maintains the target range for the federal funds rate at 1.50 to 1.75%, says “… the labor market remains strong and that economic activity has been rising at a moderate rate.” FOMC PR link.

The US Energy Information Administration says US Millions of Barrels of Crude Oil Stocks on 01/25/20 were at 431.7, 12/20/19 was at 441.4, 11/22/19 452.0, 01/25/19 445.9. EIA PR link.

***Tuesday, January 28

3M(PBR93) announces new global operating model and streamlined organizational structure, will reduce workforce by around 1,500. $MMM PR link.

C.H. Robinson(PBR184) to acquire around $109 million in 2019 revenues Prime Distribution Services, a provider of retail consolidation services in N America, from Roadrunner Transportation (NYSE: RRTS) for around $225 million cash. $CHRW PR link.

BorgWarner(PBR293) to acquire propulsions developer Delphi Technologies PLC (NYSE: DLPH) for about $3.3 billion in all stock transaction, to close in 2H20; also authorizes up to $1 billion share repurchase program over next 3 years. $BWA PR link.

Avis Budget(PBR329) adopts a 1 year short term shareholder rights plan, intended to prevent SRS Investment Management, the Company’s largest shareholder, from obtaining effective control of Avis Budget Group without paying a control premium. $CAR PR link.

Allscripts(PBR937) indirect, wholly-owned subsidiary Practice Fusion to pay around $145 million in settlements with the US Dept of Justice and Vermont Dept of Justice for violating anti-kickbacks laws. $MDRX PR link.

Clearwater Paper(PBR942) CEO Linda K. Massman to retire, SVP/General Manager of Consumer Products Division Arsen Kitch to be successor, effective 04/01/20. $CLW PR link.

The Federal Reserve Bank of Richmond says the US 5th District January 2020 Manufacturing Index(Annualized) is at +20%, December 2019 was at -5%, November 2019 -1%, January 2019 +1%. “Manufacturers were optimistic that conditions would continue to strengthen in the coming months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District January 2020 Service Sector Revenues Index(Annualized) is at +10%, December 2019 was at +17%, November 2019 +15%, January 2019 +9%. “Survey respondents were optimistic that activity would remain robust in the next six months.” RichmondFed PR link.

The Conference Board says the US Preliminary January 2020 Consumer Confidence Index(1985=100) is at 131.6, December 2019 was at 128.2, November 2019 126.8, January 2019 121.7. “Optimism about the labor market should continue to support confidence in the short-term and, as a result, consumers will continue driving growth and prevent the economy from slowing in early 2020.” TCB PR link.

The S&P/CoreLogic/Case-Shiller US Preliminary November 2019 National Home Price Index(01/2000=100) is at 212.56, October 2019 was at 212.24, September 2019 212.16, November 2018 205.33. Case-Shiller PR link.

***Monday, January 27

The new Boeing(PBR28) 777X jetliner completes successful 3 hour 51 minute first flight, will be largest and most fuel efficient twin-engine commercial jet, is expected to be delivered in 2021. $BA PR link.

Walt Disney(PBR45) temporarily closes its Shanghai park because of coronavirus concerns. $DIS PR link.

AbbVie(PBR94) and Allergan(PBR197) say Allergan to sell its brazikumab (IL-23 inhibitor) business unit to AstaZeneca (LSE/STO/NYSE: AZN) and Zenpep (pancrelipase) to Nestle (Swiss: NESN), divestitures are in conjunction with the ongoing regulatory approval process for AbbVie’s $63 billion acquisition of Allergan. $ABBV PR link.

Eli Lilly(PBR116) gets US FDA approval for Trijardy™ XR (empagliflozin/linagliptin/metformin hydrochloride extended release tablets) to lower blood sugar in adults with type 2 diabetes, along with diet and exercise. $LLY PR link.

Silgan(PBR569) to acquire France based $383 million in 2018 sales global supplier of highly engineered pumps, sprayers and foam dispensing solutions to major branded consumer goods product companies in the Beauty and Personal Care markets Albea’s for $900 million, to close in 1H20. $SLGN PR link.

Laureate Education(PBR683) will evaluate all potential options for its businesses, including sales, spin-offs or business combinations, has already initiated separate processes to explore the sale of its Peru, Mexico and Australia/New Zealand businesses. $LAUR PR link.

Columbia Sportwear(PBR769) President/CEO Tim Boyle appointed to additional role of Chairman, Andy Bryant appointed as Lead Independent Director. $COLM PR link.

The US Dept of Commerce/HUD says the US Preliminary December 2019 New Family Homes Sold Annual Rate is at 694,000, -0.4% from November 2019, +23.0% from December 2018; Median New Home Price is at $331,400, +3.3% from November 2019, +0.5% from December 2018; Months Supply is at 5.7, November 2019 was at 5.5, December 2018 7.4. USDOC PR link.

***Friday, January 24

The PBRMarketTools US Stock Exchanges Recap for Week 4 ending 01/24/20:

DJIA ends Week 4 at 28,989.73, -1.22% from last Friday, +1.58% MTD/QTD/YTD, -1.22% from record 29,348.10 set 01/17/20.

NASDAQ ends Week 4 at 9,314.91, -0.79% from last Friday, +3.82% MTD/QTD/YTD, -0.93% from record 9,402.48 set 01/23/20.

SPX ends Week 4 at 3,295.47, -1.03% from last Friday, +2.00% MTD/QTD/YTD, -1.03% from record 3,329.62 set 01/17/20.

The Week 4 of 2020 News Summary: The news for the week started out by being dominated by the US Senate Impeachment Trial of President Trump, which ended the week with the US House Managers pleading their case for the impeachment. But this news consuming event was quickly matched by the end of the week by the concern worldwide of the Coronavirus, which was first identified in China, cases have been found across the globe, and in simulations shows that an epidemic could cause the death of 75 million people. The week also started out with the World Economic Forum held in Davos, Switzerland, which had the theme of Stakeholders for a Cohesive and Sustainable World. President Trump attended, touted the US economy and committed to being part of the restoration of a trillion trees by 2050. The primary US economic news for the week was that the annual rate of existing home sales is up more than expected. It was a short week for the US stock exchanges with Monday off in observance of Dr. Martin Luther King, Jr, Day. The Impeachment Trial and Coronavirus news made it easy for The Stock Market Bear to get his first weekly win of 2020, a 3-0 victory over a helpless The Stock Market Bull.

The Week 4 of 2020 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 1 weeks
Mixed Results: 1 week

Marriott Vacations(PBR738) to have new nearly 300,000 sf 9 story global corporate headquarters built in Orlando, FL, will centralize core corporate support teams, to be completed in 2021. $VAC PR link.

Tempur Sealy(PBR786) to acquire 80% stake in top 10 US private-label mattress producer Sherwood Bedding for $40 million, to close in 1Q20. $TPX PR link.

Cincinnati Bell(PBR973) receives unsolicited $12.00/share cash offer, around $3 billion from an infrastructure fund, exceeds Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) $10.50/share, around $2.6 billion offer, Board has commenced discussions. $CBB PR link.

***Thursday, January 23

The Happy New Year Special for The PBR1000, a highly acclaimed research tool used by shrewd investors worldwide, is coming to an end. Check it out! The PBR1000 HNY2020 Special.

Wells Fargo(PBR29) President/CEO Charlie Scharf issues a message to all employees commenting on the US Office of Comptroller of the Currency decision to fine and jail some former employees for their involvement in the fraudulent Community Banking sales practices. $WFC PR link.

Anthem(PBR33) completes acquisition of WellCare Health Plans(PBR151)’ Missouri and Nebraska Medicaid plans per agreement of Wellcare’s acquisition by Centene(PBR50) which has been completed. $ANTM PR link.

Centene(PBR53) completes $305.39/share cash & stock, $17.3 billion acquisition of WellCare Health Plans(PBR151). $CNC PR link.

HP(PBR55) confirms receipt of Xerox(PBR308) nominations of 11 directors for Board, says it believes the nominations are a self-serving tactic by Xerox to advance its acquisition proposal that significantly undervalues HP and creates meaningful risk to the detriment of HP shareholders. $HPQ PR link.

Broadcom(PBR136) has entered into two separate multi-year statement of work agreements with Apple(PBR3) for the supply of a range of specified high-performance wireless components and modules for use in Apple products, could produce $15 billion in revenues. $AVGO PR link.

Colgate-Palmolive(PBR200) to acquire Hello Products(“Hello”), one of the fastest-growing, premium oral care brands in the US, from Tenth Avenue Holdings, to close by end of 02/20, terms not disclosed. $CL PR link.

MGM Resorts(PBR257) named an official gaming partner of the Las Vegas Raiders professional football team, founding partner of Allegiant Stadium, and An Official Home of the Raiders Pre- and Post-Game Party. $MGM PR link.

Moody’s(PBR570) to acquire anti-money laundering and know-your-customer data and due diligence services provider Regulatory DataCorp for $700 million, to close in 1Q20. $MCO PR link.

The Conference Board says the US Preliminary December 2019 Leading Economic Index(2016=100) is at 111.2, November 2019 was at 111.5, October 2019 111.4, December 2018 111.4. “… financial conditions and consumers’ outlook for the economy remain positive, which should support growth of about 2 percent through early 2020.” TCB PR link.

***Wednesday, January 22

Ford(PBR12) to take a $2.2 billion charge in 4Q19 for pension obligations, will effect net income by $1.7 billion. $F PR link.

Tesla(PBR144 $TSLA) gets clearance in Michigan to sell more electric vehicles in the state. MarketWatch PR link.

PG&E(PBR182) reaches agreement with Ad Hoc Noteholder Community that resolves all issues related to the treatment of pre-petition funded debt of the Utility, including post-petition interest amounts and make-whole premiums, under PG&E’s Chapter 11 Plan of Reorganization. $PCG PR link.

Franklin Resources(PBR476)’s Fiduciary Trust subsidiary to acquire $4 billion in assets under management The Pennsylvania Trust Company, to close by 06/30/20, terms not disclosed. $BEN PR link.

Sabre Corp(PBR617) announces plans with Accor to create the first unified technology platform for the global hospitality industry. $SABR PR link.

TeleFlex(PBR824) gets US FDA 510(k) clearance for its WattsonTM Temporary Pacing Guidewire – the first commercially available bipolar temporary pacing guidewire designed specifically for use during transcatheter aortic valve replacement (TAVR) and balloon aortic valvuloplasty (BAV). $TFX PR link.

Express(PBR877) to close approximately 100 stores by 2022, includes nine stores that have already closed in 2019, 31 by the end of January 2020, and an additional 35 by the end of January 2021. $EXPR PR link.

The Federal Reserve Bank of Chicago says the US Preliminary December 2019 Natl Activity Index is at -0.35, November 2019 was at +0.41, October 2019 -0.74, December 2018 -0.03. ChiFed PR link.

The Natl Assn of Realtors says the US Preliminary December 2019 Existing Home Sales Annual Rate is at 5,540,000, +3.6% from November 2019, +10.8% from December 2018; Median Price is at $274,500, +1.2% from November 2019, +7.8% from December 2018. NAR PR link.

The ADP(PBR220) Workforce Vitality Report says the US 4Q19 Wage Growth Annual Rate is at +3.2%, Wage Level is at $28.93/hour, +$0.22 from 3Q19, +$0.88 from 4Q18. $ADP PR link.

***Tuesday, January 21

Boeing(PBR28) is currently estimating that the ungrounding of the 737 MAX will begin during mid-2020. $BA PR link.

Target(PBR39) offering 1,800+ new swimsuit styles starting at $14.99. $TGT PR link.

Walt Disney(PBR45) moves up launch date for Disney+ streaming service in western Europe to 03/24/20, monthly subscription at $7.76. $DIS PR link.

Facebook(PBR57 $FB) to add 1,000 tech and content jobs in the UK, will result in 4,000+ workforce in the UK. MarketWatch PR link.

VF Corp(PBR229) is reviewing strategic alternatives for the occupational portion of its Work segment, consists of primarily nine brands and businesses: Red Kap®, VF Solutions®, Bulwark®, Workrite®, Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®, review does not include Dickies® and Timberland PRO® brands. $VFC PR link.

JCPenney(PBR261 $JCP) identifies 6 stores it will be closing effective 04/24/20. MarketWatch PR link.

Uber(PBR272) sells food delivery business in India to restaurant review, restaurant discovery, food delivery and dining out transactions platform provider Zomato in an all-stock transaction, Uber retains 9.99% stake. $UBER PR link.

McDermott Intl(PBR432) to restructure through prepackaged Chapter 11 process on expedited schedule with the support of $2.81 billion debtor-in-possession financing, will equitize nearly all the Company’s funded debt, eliminating over $4.6 billion of debt, agreement to sell Lummus Technology to The Chatterjee Group and Rhône Group for $2.725 billion, subject to higher or otherwise better bids received through a court-supervised auction process. $MDR PR link.

Sabre Corp(PBR617) selects Alphabet(PBR17)’s Google Cloud for 10 year partnership to accelerate its digital transformation. $SABR PR link.

Toro(PBR709) to acquire privately-held Orrville, OH based $100 million in 2019 revenues manufacturer of articulating turf, landscape, and snow and ice management equipment for the grounds, landscape contractor, golf, municipal and rural acreage markets Venture Products for $167.5 million in cash, to close by 04/30/20. $TTC PR link.

Intel(PBR43) Chairman Andy D. Bryant has stepped down as chairman and from the Board, Board elects lead independent director Dr. Omar Ishrak to succeed Bryant as an independent chairman, effective immediately. $INTC PR link.

ServiceMaster(PBR908) exploring strategic alternatives for its ServiceMaster Brands business, including a potential sale of the segment; Nik Varty has stepped down as CEO and Board director, Chairman Naren Gursahaney named Interim CEO, effective immediately. $SERV PR link.

***Monday, January 20

***Dr. Martin Luther King, Jr, Day Observed.
***Link to Dr. King’s Biography.
***US Stock Exchanges Closed.

United Technologies(PBR48 $UTX) Collins Aerospace unit to sell its military global positioning system assets to UK based BAE Systems for $1.925 billion and Raytheon(PBR104 $RTN) to sell its airborne tactical radios business to UK based BAE Systems for $275 million, subject to the successful closure of the Raytheon-United Technologies merger scheduled for 2H20. BAE Systems PR link.

Verso Corp(PBR789) gets all regulatory approvals needed for sale of its Androscoggin mill, located in Jay, ME, and its Stevens Point mill, located in Stevens Point, WI, to Pixelle Specialty Solutions for $400 million, expects to close deal in early 02/20 after stockholders special meeting scheduled for 01/31/20. $VRS PR link.

***Friday, January 17

The PBRMarketTools US Stock Exchanges Recap for Week 3 ending 01/17/20:

DJIA ends Week 3 at a record 29,348.10, +1.82% from last Friday, +2.84% MTD/QTD/YTD, +0.00% from record 29,348.10 set 01/17/20.

NASDAQ ends Week 3 at a record 9,388.94, +2.29% from last Friday, +4.64% MTD/QTD/YTD, +0.00% from record 9,388.94 set 01/17/20.

SPX ends Week 3 at a record 3,329.62, +1.97% from last Friday, +3.06% MTD/QTD/YTD, +0.00% from record 3,329.62 set 01/17/20.

The Week 3 of 2020 News Summary: The week started off with the College Football Championship and #1 LSU winning over #3 Clemson 42-25 in the New Orleans Superdome, and LSU finishing the season unbeaten. In international trade the US and China sign Phase 1 of a new agreement. Also, the US Senate approves the US/Mexico/Canada trade agreement. Regarding US politics, the US House voted to forward the Articles of Impeachment of President Trump to the Senate, which accepted them, and swore in to be the jury of the trial which is expected to start next Tuesday. Six Democrat presidential candidates held a debate in Iowa, which will be the first primary election state. The US economy continues to grow at a modest rate according to the latest Federal Reserve Beige Book, but had mixed results throughout the week. With the signing of the US/China trade agreement and approval of the USMCA The Stock Market Bull stood tall and proud on the hill of the pasture with a 3-0 victory and finishing the week at record highs for all 3 major US stock exchanges. The Stock Market Bear decided to stay in his hibernation cave.

The Week 3 of 2020 tally YTD is:
The Stock Market Bull: 2 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

Boeing(PBR28 $BA) finds new software problem with 737 MAX, will delay key FAA flight certification from late 01/20 to 02/20 at earliest. MarketWatch PR link.

Best Buy(PBR71 $BBY) board is investigating allegations that CEO Corie Barry had an inappropriate romantic relationship with a fellow executive, who has since left the electronics retailer, Barry statement says she is cooperating. MarketWatch PR link.

The US Dept of Labor says the US Preliminary November 2019 Job Openings-Private is at 6,080,000, Government 719,000, Total 6,799,000, -7.6% from October 2019, -10.9% from November 2018. USDOL PR link.

The US Dept of Commerce/HUD says the US Preliminary December 2019 Private Housing Building Permits Issued Annual Rate is at 1,416,000, -3.9% from November 2019, +5.8% from December 2018. USDOC PR link.

The US Federal Reserve says the US Preliminary December 2019 Total Industry Production % of Capacity Utilization is at 77.0%, November 2019 was at 77.4%, October 2019 76.9%, Capacity Growth Over December 2018 +2.1%. USFed PR link.

The U of Michigan US Preliminary January 2020 Consumer Sentiment Index is at 99.1, December 2019 was at 99.3, November 2019 96.8, January 2019 91.2. “Consumers will continue to sustain the expansion due to their favorable judgements about their current and prospective financial situation… whether that strength will last another two years is uncertain, given that the election season has only begun and features fundamental changes in taxes and spending programs that directly affect consumers.” UMichigan PR link.

***Thursday, January 16

Comcast(PBR32)’s NBCUniversal unit unveils Peacock, a free premium ad-supported streaming service with subscription tiers offering more than 600 movies and 400 series, as well as compelling live and on-demand content across news, sports, late night, and reality, to launch 04/15/20. $CMCSA PR link.

Merck(PBR73) completes $20.00/share $2.7 billion cash acquisition of biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases ArQule(Nasdaq: ARQL). $MRK PR link.

Coca-Cola(PBR96) is expanding its POWERADE product lineup for the first time in over a decade. $KO PR link.

Gap Inc(PBR185) no longer intends to separate Old Navy into a standalone public company. $GPS PR link.

Regis Corp(PBR998) reduces administration staff by around 290, part of restructuring plan to emphasize franchise business. $RGS PR link.

The US Dept of Labor says the US Preliminary December 2019 Monthly Import Prices are +0.3%, Exports -0.2%; Last 12 Months Imports +0.5%, Exports -0.7%. USDOL PR link.

The US Dept of Commerce/Census says the US Preliminary November 2019 Sales-Manufacturers is $502.2 billion, Retail $462.9 billion, Wholesalers $500.7 billion, Total $1,465.7 billion, +0.7% from October 2019, +1.0% from November 2018. USDOC PR link.

The US Dept of Commerce/Census says the US Advance December 2019 Sales-Retail is at $464.5 billion, Food Services & Drinking Places $65.1, Total $529.6, +0.3% from November 2019, +5.8% from December 2018. USDOC PR link.

The US Federal Reserve Bank of Philadelphia says the US 3rd District January 2020 Manufacturing General Business Indicator is at +17.0, December 2019 was at +2.4, November 2019 +8.4, January 2019 +14.8. “The survey’s future activity indexes remained at relatively high readings, suggesting continued optimism about growth for the next six months.” PhillyFed PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary January 2020 Composite Housing Market Index(>50 = Builders view conditions as good) is at 75, December 2019 was at 76, November 2019 71, January 2019 58. “Low interest rates and a healthy labor market combined with a need for additional inventory are setting the stage for further home building gains in 2020,… However, builders continue to grapple with a shortage of lots and labor, while buyers are frustrated by a lack of inventory, particularly among starter homes.” NAHB/WF PR link.

***Wednesday, January 15

Pepsi(PBR49) to achieve 100% renewable electricity of its US operations by end of 2020. $PEP PR link.

VISA(PBR131) has met its goal to use 100% renewable electricity by 2020. $V PR link.

XPO Logistics(PBR177) to review strategic alternatives, including the possible sale or spin-off of one or more of XPO’s business units. $XPO PR link.

Fortive(PBR445) says name of the new global industrial company which is expected to separate from Fortive later this year will be Vontier Corporation, will be headquartered in Raleigh, NC, will employ approximately 8,400 people worldwide, Mark D. Morelli to be President/CEO. $FTV PR link.

Boise Cascade(PBR610) COO Nate Jorgensen to become CEO and member of the Board on 03/06/20, will succeed Tom Corrick, who will be retiring from his roles as CEO and director after nearly 37 years with Boise Cascade. $BCC PR link.

Trinity Industries(PBR815) appoints Board member E. Jean Savage as President/CEO, effective 02/17/20. $TRN PR link.

The US Federal Reserve releases the Beige Book for data through 01/06/20, says, “Economic activity generally continued to expand modestly in the final six weeks of 2019… Expectations for the near-term outlook remained modestly favorable across the nation.” USFED PR link.

The US Dept of Labor says the US Preliminary December 2019 Monthly Final Demand Producer Price Index is at +0.1%, November 2019 was at +0.0%, October 2019 +0.4%, December 2018 -0.1%; Total Last 12 Months is at +1.3%, November 2019 was at +1.1%, October 2019 +1.1%, December 2018 +2.6%. USDOL PR link.

The Federal Reserve Bank of New York says the US January 2020 Empire State Manufacturing General Business Conditions Index is at +4.8, December 2019 was at +3.5, November 2019 +2.9, January 2019 +3.9. “Indexes assessing the six-month outlook suggested that optimism about future conditions remained restrained.” NYFED PR link.

***Tuesday, January 14

Amazon(PBR5 $AMZN) lifts ban on FedEx(PBR44 $FDX) Ground for third-party Prime shipments, is meetings delivery standards. MarketWatch PR link.

Alphabet(PBR17)’s Google unit to acquire Pointy, a company based in Dublin, Ireland that has helped thousands of local retailers bring their product inventory online, to close in a few weeks, terms not disclosed. $GOOG PR link.

Eli Lilly(PBR116) expands insulin affordability options with lower-priced versions of Humalog® Mix75/25™ KwikPen® and Humalog® Junior KwikPen®, 50% lower prices, to be available mid 04/20. $LLY PR link.

MGM Resorts(PBR257) to sell MGM Grand Las Vegas real estate assets for around $2.5 billion to new joint venture between MGM Growth Properties and Blackstone(PBR423) Real Estate Income Trust, MGM will do leaseback on this and Mandalay Bay which is also being acquired by the partnership, to close in 1Q20. $MGM PR link.

Express(PBR877) restructuring its corporate workforce, will impact around 10% of workforce at Columbus, OH, headquarters and New York, NY, design studio. $EXPR PR link.

The New York Times(PBR937) achieves $800 million in revenues from digital subscriptions a year ahead of time, gains 1+ million subscribers in 2019, now has over 5 million subscribers across all platforms. $NYT PR link.

Sabre Corp(PBR619) elects Karl Peterson to be Chairman, effective immediately, succeeds Larry Kellner who is stepping down to focus on being Chairman of Boeing(PBR28). $SABR PR link.

The US Dept of Labor says the US December 2019 Consumer Price Index-Urban is at +0.2%, November 2019 was at +0.3%, October 2019 +0.4%, December 2018 +0.0%, Last 12 Months +2.3%, “… the largest advance since the 3.0-percent rise in 2011…” USDOL PR link.

The US Dept of Labor says the US December 2019 Current Average Earnings/Hour is at $28.32, Average Hours Worked Per Week at 34.3, for Average Current Weekly Earnings at $971.38, +2.3% from December 2018, November 2019 was at $970.35, October 2019 967.26, December 2018 $949.79. USDOL PR link.

CoreLogic says the US October 2019 Percent of Housing Mortgages 30 Days or more Delinquent is at 3.7%, September 2019 was at 3.8%, August 2019 3.7%, October 2018 4.1%; Total Percent of Houses in Foreclosure is at 0.4%. CoreLogic PR link.

***Monday, January 13

VISA(PBR131) to acquire Plaid, an apps developer for people to securely connect to their financial accounts, for $5.3 billion, to close in 3-6 months. $V PR link.

Biogen(PBR233) to acquire from Pfizer(PBR61) PF-05251749, a novel CNS-penetrant small molecule inhibitor of casein kinase 1 (CK1), for the potential treatment of patients with behavioral and neurological symptoms across various psychiatric and neurological diseases, for $75 million upfront plus up to $635 million in potential additional development and commercialization milestone payments, as well as tiered royalties in the high single digits to sub-teens. $BIIB PR link.

Anixter(PBR356) agrees to be acquired by WESCO(PBR365) for $100.00/share, $4.5 billion cash & stock, terminates agreement to be acquired by Clayton, Dubilier & Rice, to close in 2Q20 or 3Q20. $AXE PR link.

TreeHouse Foods(PBR475) terminates sale of private label ready-to-eat cereal business to Post Holdings(PBR458) due to regulatory issues, will begin the process of re-marketing the business for sale. $THS PR link.

TreeHouse Foods(PBR475) to sell two of its in-store bakery facilities with 383 employees located in Fridley, MN, and Lodi, CA, to Rich Products, to close by 04/10/20, terms not disclosed. $THS PR link.

Woodward(PBR752) shareholders to own 55% and Hexcel(PBR866) shareholders 45% in merger of equals to create Woodward Hexcel, an integrated systems provider serving the aerospace and industrial sectors with 16,000 employees and $5.3 billion in revenues, to close in 3Q20. $WWD PR link.

Boeing(PBR28) announces David L. Calhoun has become President/CEO, succeeds interim CEO Greg Smith. $BA PR link.

Sysco(PBR54) President/CEO Tom Bené to retire from his roles on 01/31/20, Kevin Hourican hired to be President/CEO on 02/01/20, lead independent director Ed Shirley to become Executive Chair on 01/13/20, replacing Tom Bené. $SYY PR link.

Builders FirstSource(PBR386) CEO Chad Crow to retire after 20 years of service, will step down upon appointment of successor. $BLDR PR link.

The US Dept of Treasury says the US December 2019 Government Receipts are $335.8 billion, Outlays $349.1 billion, Deficit $13.3 billion, December 2018 Deficit was $13.5 billion; Receipts YTD(3 Months) are at $806.5 billion, Outlays YTD $1,163.1 billion, Deficit YTD $356.6 billion, Deficit YTD 2018 was at $318.9 billion. USTreasury PR link.

***Friday, January 10

The PBRMarketTools US Stock Exchanges Recap for Week 2 ending 01/10/20:

DJIA ends Week 2 at 28,823.77, +0.66% from last Friday, +1.00% MTD/QTD/YTD, -0.46% from record 28,956.90 set 01/09/20.

NASDAQ ends Week 2 at 9,178.86, +1.75% from last Friday, +2.30% MTD/QTD/YTD, -0.27% from record 9,203.43 set 01/09/20.

SPX ends Week 2 at 3,265.35, +0.94% from last Friday, +1.07% MTD/QTD/YTD, -0.29% from record 3,274.70 set 01/09/20.

The Week 2 of 2020 News Summary: Most of the week’s international news centered around US/Iran tensions, with Iran launching 16 missiles at US airbases in Iraq in retaliation for the US drone killing of their key general. By the end of the week it appeared that no additional military actions were going to take place. The UK Parliament okayed Boris Johnson’s Brexit plan. The US/China Phase 1 trade agreement is scheduled to be signed on 01/15/20, President Trump says Phase 2 will probably occur after US general elections in November. In US politics it appears that the US House will forward its impeachment articles of President Trump to the US Senate next week. US economic news was mixed for the week, with the jobs report on Friday being a big disappointment. The Consumer Electronics Show 2020 in Las Vegas featured a lot of new technologies being released, especially among chip manufacturers. As US/Iran tensions eased The Stock Market Bull took advantage with all 3 major US stock exchanges hitting new record highs on Thursday and in a mixed week of gains and losses came out on top with a 3-0 victory over The Stock Market Bear.

The Week 2 of 2020 tally YTD is:
The Stock Market Bull: 1 week
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

Eli Lilly(PBR116) to acquire biopharmaceutical developer of new therapies for chronic skin conditions Dermira for $18.75 per share, or approximately $1.1 billion cash, to close by end of 1Q20. $LLY PR link.

Spirit AeroSystems(PBR403) laying off around 2,800 employees at its Wichita, KS, facility because of Boeing(PBR28)‘s 737 MAX production suspension, which represents 50% of revenues; plans to implement smaller workforce reductions for plants in Tulsa and McAlester, OK. $SPR PR link.

Endo Intl(PBR741) settles opioid investigation with the State of Oklahoma for $8.75 million. $ENDP PR link.

Prologis(PBR769) completes $4 billion acquisition of 37.5 million sf operating portfolio comprising 236 properties REIT firm Industrial Property Trust‘s wholly owned real estate assets. $PLD PR link.

Parsley Energy(PBR920) completes around $2.27 billion, including net debt of aound $625 million, all stock acquisition of independent oil and natural gas company Jagged Peak (NYSE: JAG). $PE PR link.

Six Flags(PBR964) says development of the Six Flags-branded parks in China has encountered continued challenges and has not progressed as expected, China partner is defaulting on payments, outcome uncertain; also, Company’s N America parks experienced lower attendance in 4Q19 versus 4Q18 due to softer than expected season pass and membership sales. $SIX PR link.

The US Dept of Labor says the US December 2019 Available Labor Force is at 164,556,000, Employed is at 158,803,000, +267,000 from November 2019, +1,978,000 from December 2018, Unemployed is at 5,753,000, -58,000 from November 2019, -533,000 from December 2018, Unemployment Rate remains at 3.5%. USDOL PR link.

The US Dept of Commerce/Census says the US Preliminary November 2019 Wholesale Sales-Durable Goods was at $238.3 billion, Non-Durable Goods $262.4 billion, Total $500.7 billion, +1.5% from October 2019, +0.8% from November 2018. USDOC PR link.

***Thursday, January 9

Verizon(PBR18) introduces Mix & Match Fios, no bundle required to get the best internet and tv rates, no annual contracts. $VZ PR link.

Target(PBR39) introduces its newest activewear and sporting goods owned brand All in Motion, includes everything from sports bras and leggings to hand weights and yoga mats. $TGT PR link.

SYNNEX(PBR156) 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 be completed in 2Q20. $SNX PR link.

Kinder Morgan(PBR221) has sold all of the around 25 million shares of Pembina Pipeline(TSX: PPL; NYSE: PBA) stock it received in connection with Pembina’s acquisition of the outstanding common equity of Kinder Morgan Canada Ltd for after tax proceeds of $764 million. $KMI PR link.

PVH(PBR314) to sell its Speedo N America business to Pentland Group, parent company of Speedo International Limited, for $170 million cash, to close by 04/30/20. $PVH PR link.

Anixter(PBR356) says WESCO(PBR365) $100.00/share $4.5 billion cash & stock offer is superior to Clayton, Dubilier & Rice‘s offer, per agreement CD&R now has 5 days to counter offer. $AXE PR link.

Equinix(PBR525) completes $175 million cash acquisition of three data centers that serve the Mexico City and Monterrey metro areas of Mexico from Axtel S.A.B. de C.V. (BMV: AXTELCPO). $EQIX PR link.

Meredith Corp(PBR704) acquires SwearBy, a digital platform for word of mouth recommendations designed to crowdsource and share products that women “swear by” based on their personal experiences, terms not disclosed. $MDP PR link.

Trimble(PBR712), with its 1.3+ million network of private fleet and commercial carrier customers, to acquire privately-held transportation management system provider and creator of N America’s largest connected shipping community of 21,000 shipping companies, Kuebix, to close in 1Q20, terms not disclosed. $TRMB PR link.

Popular(PBR793) authorizes up to $500 million share repurchase program for 2020. $BPOP PR link.

Ferrellgas(PBR946) to delist from the NYSE on 01/10/20, will start trading on the OTC Pink list with ticker symbol FGPR. $FGP PR link.

American Equity(PBR958) hires Anant Bhalla to be President/Board member on 01/27/20, will add CEO role on 03/01/20, will succeed John M. Matovina who will remain on the Board as non-executive Chairman. $AEL PR link.

***Wednesday, January 8

Kroger(PBR21) launches its Simple Truth® Emerge™ plant based fresh meats and grinds at more affordable prices. $KR PR link.

HP(PBR55) sends reply letter to Xerox(PBR309) says Xerox’s letter of 01/06/20 regarding financing does not address the key issue – that Xerox’s proposal significantly undervalues HP – and is not a basis for discussion. $HPQ PR link.

Sprint(PBR90) to integrate Wirecard unified commerce solutions into Sprint’s Curiosity™ Internet of Things (IoT) platform to deliver the “Internet of Payments,” focus to initially be on retail segment. $S PR link.

AbbVie(PBR94) announces creation of a new global business, Allergan Aesthetics, an AbbVie company, and the proposed leadership team for the combined company, effective upon the expected 1Q20 close of the $63 billion Allergan(PBR197) acquisition. $ABBV PR link.

Macy’s(PBR115 $M) to close 28 Macy’s stores and 1 Bloomingdale’s store in the coming weeks. MarketWatch PR link.

ViacomCBS(PBR242) and Comcast(PBR32) renew their content carriage agreement that includes continued retransmission consent of 23 CBS-owned television stations in 15 major markets across the country, including CBS-owned The CW affiliates, as well as distribution of the popular entertainment and sports channels SHOWTIME®, Smithsonian Channel™, Pop TV and CBS Sports Network to Xfinity customers; also, CBS All Access, CBS’ digital subscription video on-demand and live streaming service, will be available on Comcast’s Xfinity X1 and Flex platforms later this year. $VIAC PR link.

Uber(PBR272) announces new policies for California drivers in response to the California’s AB5 law, provides more details and transparency on value of a trip, fees, and payment to driver. $UBER PR link.

Air Products(PBR333) to Invest $500 million to build, own and operate Its largest-ever hydrogen steam methane reformer, a nitrogen air separation unit and utilities facilities, and wins long-term contract to supply Gulf Coast Ammonia’s new world-scale Texas production plant. $APD PR link.

Constellation Brands(PBR335 $STZ) to spend $40 million to launch Corona hard seltzer in the spring, biggest investment it has ever made in a single brand. MarketWatch PR link.

Apollo Global Mgmt(PBR995) completes acquisition of global photo retailer Snapfish, to be combined with recent $2.7 billion acquisition Shutterfly. $APO PR link.

Institutional investors worldwide, who move millions of dollars in and out of investments, in recent years have discovered that The PBR1000 has become a must have analytics tool to help them make higher probability of success investment decisions. Get the same power at the significantly discounted Happy New Year 2020 rate today by clicking here!

The US Federal Reserve Board says the US Preliminary November 2019 Consumer Credit Outstanding-Revolving is at $1.086 trillion, Non-Revolving $3.090 trillion, Total $4.176 trillion, +0.30% from October 2019, +4.2% from end of December 2019, +4.3 from end of December 2018. clicking here!

ADP(PBR219) says the US Preliminary December 2019 Change in Employment-Small Businesses is +69,000, Medium +88,000, Large 45,000, Total +202,000, November 2019 was at +124,000, October 2019 +151,000, December 2018 +249,000; the Goods Producing Sector was +29,000, Services +173,000. $ADP PR link.

***Tuesday, January 7

The PBR25 Top Stock Buys By Analyst Recommendations As Of 12/31/19 Summary:

– Avg Recommendation: 4.72/5.00
– Avg Recommendations Range: 4.60-4.96/5.00
– Avg Number of Recommendations: 30
– Avg Number of Buy Recommendations: 25
– Range of Buy Recommendations: 15 to 43
– NYSE: 15 companies, NASDAQ: 10
– Avg Return since 12/31/14(60 mos): +174.2%
– DJIA Return since 12/31/14: +60.1%
– NASDAQ Return since 12/31/14: +89.5%
– S&P500 Return since 12/31/14: +56.9%

To find out more about The PBR25 click here!

HCA(PBR66) completes acquisition to become majority owner of parent of Galen College of Nursing, one of the largest nursing educators in the US, terms not disclosed. $HCA PR link.

T-Mobile US(PBR70) says it had 7.0 million net adds in 2019, now has 86.0 million customers. $TMUS PR link.

United Airlines(PBR75) to take a special non-cash impairment charge of $90 million in 4Q19 associated with its Hong Kong routes. $UAL PR link.

Goldman Sachs(PBR85) restructures into 4 business segments: Investment Banking, Global Markets, Asset Management and Consumer & Wealth Management, to be reflected in 4Q19 financial statements. $GS PR link.

Abbott(PBR100) gets US FDA approval for a new alternative surgical technique for Abbott’s HeartMate 3 heart pump that will allow more advanced heart failure patients to avoid open heart surgery. $ABT PR link.

Tesla(PBR142) CEO Elon Musk says Tesla will open a design and engineering center in China to design a future model to be sold world-wide but gave no further details, also launched the new Model Y SUV program. $TSLA PR link.

Broadcom(PBR149 $AVGO) to sell its Symantec’s Mountain View, CA based 300+ worldwide employees Cyber Security Services business to Accenture(NYSE: ACN), to close in 03/20, terms not disclosed. Accenture PR link.

Uber(PBR272 $UBER) and S Korea based Hyundai are teaming up to develop electric air taxis. Reuters PR link.

Ascena Retail(PBR495) gets written notice from NASDAQ saying Company successfully regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Select Market. $ASNA PR link.

Ametek(PBR537) to sell its $160 million in annual sales Reading Alloys business to specialty materials company Kymera International, owned by affiliates of Palladium Equity Partners, for $250 million cash, to close in 1Q20. $AME PR link.

Square(PBR691) starts charging 1.5% fee for instant transfers, 1 day transfers remain free. $SQ PR link.

KKR(PBR831) has acquired eight building, 688,100 sf, Class A office campus Riata Corporate Park in Austin, TX, for around $258 million. $KKR PR link.

The US Dept of Commerce/Census says the US Preliminary November 2019 Exports-Goods is at $137.2 billion, Services $71.5 billion, Total Exports $208.7 billion; Imports-Goods is at $201.1 billion, Services $50.7 billion, Total Imports $251.8 billion; Total Deficit-Goods $63.9 billion, Total Gain-Services $20.8 billion, Total Deficit $43.1 billion; Total Deficit YTD(11 months) is at $563.0 billion, Total Deficit YTD 2018 was at $566.5 billion. USDOC PR link.

The US Dept of Commerce/Census says the US Preliminary November 2019 Manufacturers New Orders-Durables is at $242.2 billion, Non-Durables $250.8 billion, Total New Orders $493.0 billion, Change from October 2019 is -0.7%, Change from November 2018 -1.3%, Total YTD(11 months) is at $5.466 trillion, Change from November 2019 -0.5%. USDOC PR link.

The Institute for Supply Management says the US December 2019 Non-Manufacturing Index(>50% economy growing) is at 55.0%, November 2019 was at 53.9%, October 2019 54.7%, December 2018 58.0%. “… respondents are positive about the potential resolution on tariffs. Capacity constraints have eased a bit; however, respondents continue to have difficulty with labor resources.” ISM PR link.

The FannieMae(PBR22) US December 2019 Home Purchase Sentiment Index is at 91.7, November 2019 was at 91.5, October 2019 88.8, December 2018 83.5. “The HPSI’s strength supports our prediction of a healthy housing market in 2020, as well as consumers’ appetite and ability to absorb the expected increase in entry-level inventory.” $FNMA PR link.

The PurdueU/CME Group US December 2019 Ag Economy Barometer Composite Index is at 150, November 2019 was at 153, October 2019 136, December 2018 127. “Agricultural producers in December were less optimistic about current economic conditions on their farms than a month earlier but remained optimistic about future economic conditions.” PurdueU/CME Group PR link.

***Monday, January 6

Amazon(PBR5) says its Fire TV has passed more than 40 million active users globally. $AMZN PR link.

American Airlines(PBR67) announces it has reached a confidential agreement with Boeing(PBR28) on compensation for financial damages incurred in 2019 due to the grounding of the airline’s Boeing 737 MAX aircraft, a discretionary portion of the settlement to be returned to American Airlines team members through the company’s 2019 profit-sharing program. $AAL PR link.

Allergan(PBR197)’s Warner Chilcott and Watson subsidiaries to pay $300 million in settlement agreement direct and indirect purchasers of Loestrin 24 Fe and Minastrin 24 Fe. $AGN PR link.

Bed Bath & Beyond(PBR251) completes a sale-leaseback transaction with an Oak Street Real Estate Capital affilates, generating over $250 million in net proceeds. $BBBY PR link.

Molson Coors(PBR284) to cease production at its 470 employees Irwindale, CA, brewery by 09/20, signs agreement with Pabst Brewing Co giving them an option to purchase the facility, 4.8 million barrels production to be moved to Golden, CO, and Ft Worth, TX, facilities. $TAP PR link.

Xerox(PBR309) secures $24 Billion in binding financing commitments for HP(PBR55) acquisition, sends letter to HP Board requesting to begin negotiations. $XRX PR link.

Huntsman(PBR326) completes $2 billion sale of its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses located in Texas and Australia to Indorama Ventures. $HUN PR link.

Coty(PBR340) completes $600 million payment for 51% ownership in long-term partnership with Kylie Jenner to develop her Kylie Cosmetics, Kylie Skin, and other products. $COTY PR link.

Univar(PBR342) completes $195 million sale of its pest control management Environmental Sciences business to AEA Investors. $UNVR PR link.

O-I Glass(PBR419)‘s wholly owned subsidiary Paddock Enterprises voluntarily files for relief under Chapter 11 Bankruptcy to resolve all of its current and future asbestos-related claims. $OI PR link.

AMD(PBR442) announces world’s highest performance fesktop and ultrathin laptop processors at CES 2020, the AMD Ryzen™ 4000 Series Mobile Processor family, also the 64-core, 128-thread AMD Ryzen™ Threadripper™ 3990X. $AMD PR link.

YUM!(PBR482) to acquire The Habit Burger Grill(NASDAQ:HABT), with nearly 300 company-owned and franchised restaurants across the US and in China, for $14 per share in cash, around $375 million, to be completed by end of 2Q20. $YUM PR link.

Elanco Animal Health(PBR720) to divest Osurnia®, a treatment for otitis externa in dogs, to Dechra Pharmaceuticals PLC (LON: DPH) for $135 million in an all-cash deal. $ELAN PR link.

First Solar(PBR860) has agreed to pay $350 million to settle the claims brought on behalf of purchasors of the Company’s shares between 04/30/08 and 02/28/12. $FSLR PR link.

Pier 1 Imports(PBR956) says FY 3Q20 sales down 11.4% due to shorter holiday season, to reduce its store footprint by up to 450 locations, to close certain distribution centers and reduce its corporate expenses, includes reduction of corporate headcount. $PIR PR link.

Kimco Realty(PBR989) completes sale to Spirit Airlines(PBR688) of around 9 acres of land at its Dania Pointe mixed-use project in Dania Beach, FL, Spirit Airlines to develop a new global headquarters, investing up to $250 million for the creation of a corporate campus that will support more than 1,000 employees in up to 500,000 sf, construction to begin in 2021, with an anticipated transfer of employees in mid-2022. $KIM PR link.

The IHS Markit US December 2019 Composite PMI Output Index is at 52.7, November 2019 was at 52.0, October 2019 50.9, December 2018 54.4. “The missing ingredient compared to this time last year is optimism about the future, with business sentiment regarding prospects for the next twelve months running well below levels seen this time last year, and close to the lowest for at least seven years.” IHS Markit PR link.

Automotive News says US December 2019 Light Vehicle Units Sold is at 1,543,471, -5.2% from December 2018; Average Transaction Price was at $34,602, +2.0% from December 2018; Average Days On Lot was 72, December 2018 was 67. Automotive News PR link.

***Friday, January 3

The PBRMarketTools US Stock Exchanges Recap for Week 1 ending 01/03/20:

DJIA ends Week 1 at 28,634.88, -0.04% from last Friday, +0.34% MTD/QTD/YTD, -0.81% from record 28,868.80 set 01/02/20.

NASDAQ ends Week 1 at 9,020.77, +0.16% from last Friday, +0.54% MTD/QTD/YTD, -0.79% from record 9,092.19 set 01/02/20.

SPX ends Week 1 at 3,234.85, -0.16% from last Friday, +0.13% MTD/QTD/YTD, -0.71% from record 3,257.85 set 01/02/20.

The Week 1 of 2020 News Summary: The New Year for international trade starts off with a US/China Phase 1 agreement scheduled for 01/15/20. The UK Brexit from the European Union is to take place 01/31/20. N Korea is still trying to leverage its nuclear weapons to relieve it from some trade sanctions. The Mideast is volatile once again after a US strike that killed a key Iranian general in Iraq. Per the Federal Open Market Committee the US economy still seems solid with modest/moderate growth indications for the early part of the year. Even though it is winter US politics should start generating some interesting heat. The Senate Impeachment Trial of President Trump is still not scheduled, but should start in January. The Democrats have had some presidential contenders withdraw. Upcoming debates and fundraising milestones should narrow the field some more. On the first trading day of the year The Stock Market Bull confidently charged into the pasture and established new records for all 3 major US stock exchanges. But with concerns about Mideast conflicts and their effects on oil production and prices, The Stock Market Bear slashed back deeply on Friday. Week 1 ended with The Stock Market Bear winning 2-1, a mixed result, and maybe a harbinger of the year as it unfolds.

The Week 1 of 2020 tally YTD is:
The Stock Market Bull: 0 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

Tesla(PBR142) delivers 19,450 Model S/X and 92,550 Model 3, a record 112,000 vehicles in 4Q19, delivered record 367,500 vehicles in 2019, 50% more than in 2018. $TSLA PR link.

Anixter(PBR356) to consider WESCO(PBR365) latest acquisition offer of $97.00/share cash & stock. $AXE PR link.

Avon Products(PBR490) $3.7 billion acquisition by Brazil based Natura &Co (B3: NATU3) is completed, now a subsidiary. $AVP PR link.

Amerco(PBR631)’s U-Haul unit to implement a nicotine-free hiring policy in 21 states on 02/01/20, Team Members hired prior to that date will not be impacted by the policy. $UHAL PR link.

Charles River Labs(PBR856) completes $25.70/share, around $380 million cash acquisition of human-derived cellular products for the cell therapy market producer HemaCare(OTCMKTS: HEMA). $CRL PR link.

Universal Corp(PBR860) completes acquisition of Yakima Valley, WA based 200 employees FruitSmart, an independent specialty fruit and vegetable ingredient processor serving global markets, terms not disclosed. $UVV PR link.

Kaman Corp(PBR911) completes $330 million cash acquisition of design, development, and manufacturing of precision springs, seals, and contacts with $95 million in 2019 revenues Bal Seal. $KAMN PR link.

The US Federal Open Market Committee releases the minutes of its 12/10-11/19 meeting. “Participants generally expected sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective as the most likely outcomes.” FOMC PR link.

The US Dept of Commerce/Census says the US Preliminary November 2019 Construction Spending Annual Rate-Residential is at $543.1 billion, Non-Residential $781.1, Total Construction Spending $1,324.1 billion, +0.6% from October 2019, +4.2% from November 2018. USDOC PR link.

The Institute for Supply Management says the US December 2019 Manufacturing PMI Index(<50% = contracting) is at 47.2%, November 2019 was at 48.1%, October 2019 48.3%, December 2018 54.1%. “Overall, inputs indicate (1) supply chains began to stress in December and (2) companies remained cautious that materials received would be consumed by the end of the fourth quarter. Prices increased for the first time since May 2019, a positive for 2020.” ISM PR link.

***Thursday, January 2

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Lowe’s(PBR42) to hire 53,000+ full-time, part-time and seasonal associates across its more than 1,700 U.S. stores this spring. $LOW PR link.

Duke Energy(PBR114) reaches settlement with N Carolina to to excavate seven of the nine remaining coal ash basins in N Carolina, with ash moved to on-site lined landfills, estimated total cost to permanently close all ash basins in N Carolina and S Carolina is now around $8 to $9 billion, of which around $2.4 billion has been spent through 2019. $DUK PR link.

Alcoa(PBR234) to sell its 1,300-acre hazardous waste treatment business in Gum Springs, AR, to Veolia ES Technical Solutions for around $250 million, to close in 1Q20. $AA PR link.

Uber(PBR272) completes $3.1 billion acquisition of internet ride-sharing platform for the greater Middle East region Careem, is now a wholly-owned subsidiary of Uber. $UBER PR link.

Anixter(PBR356) board unanimously accepts revised $93.50/share $4.3 billion cash including net debt acquisition by Clayton, Dubilier & Rice, says proposal is superior to WESCO(PBR365) bid, to close by 09/30/20. $AXE PR link.

American Tower(PBR394) completes $1.85 billion acquisition of Eaton Towers Holding Ltd, which owns/operates approximately 5,500 communications sites across five African markets, to also acquire MTN Group’s minority stakes in each of the Company’s joint ventures in Ghana and Uganda for around $523 million. $AMT PR link.

Newmont Goldcorp(PBR402) completes the $800 million cash sale of its 50% stake in Kalgoorlie Consolidated Gold Mines (KCGM) to Australia’s Northern Star Resources Limited (ASX: NST). $NEM PR link.

Universal Forest Products(PBR565) completes name change to UFP Industries, Inc. $UFPI PR link.

Triumph Group(PBR679) completes sale of its Nashville, TN based around $125 million in revenues for year ending 03/31/19 assembly operations to an affiliate of TECT Aerospace, a manufacturer of complex aerostructure components, parts and assemblies, terms not disclosed. $TGI PR link.

Illumina(PBR686) $8.00/share, around $1.2 billion proposed acquisition of Single Molecule, Real-Time (SMRT®) genome technology developer Pacific Biosciences (NASDAQ:PACB) has been terminated by mutual agreement because of uncertainty and time of lengthy regulatory approvals. $ILMN PR link.

The Carlyle Group(PBR827) completes conversion from a publicly traded partnership to a corporation. $CG PR link.

Curtiss-Wright(PBR830) completes $132 million in cash acquisition of 901D Holdings, a designer and manufacturer of mission-critical integrated electronic systems, subsystems and ruggedized shipboard enclosure solutions supporting every major US Navy shipbuilding program. $CW PR link.

CIT Group(PBR850) completes $1 billion cash & stock acquisition of $6.8 billion in deposits, $4.5 billion of which are HOA deposits from more than 31,000 community associations nationwide, Mutual of Omaha Bank. $CIT PR link.

WW(PBR960) retains the #1 spot by US News & World Report for both “Best Diet for Weight Loss” and “Best Commercial Diet” for a tenth consecutive year. $WW PR link.

The IHS Markit US December 2019 Manufacturing PMI Index is at 52.4, November 2019 was at 52.6, October 2019 51.3, December 2018 53.8. “December data pointed to a further recovery in operating conditions across the U.S. manufacturing sector. The sustained improvement was supported by a solid rise in new business and a further upturn in production. Output expectations remained historically muted, however.” IHS Markit PR link.

***Wednesday, January 1

***Happy New Year 2020!
***US Stock Exchanges Closed.

***Tuesday, December 31

The PBRMarketTools US Stock Exchanges Recap for December 2019 ending 12/31/19:

DJIA ends December and 2019 at 28,538.44, -0.37% from last Friday, +1.74% MTD, +6.02% QTD, +22.34% YTD, -0.37% from record 28,645.26 set 12/27/19.

NASDAQ ends December and 2019 at 8,972.60, -0.38% from last Friday, +3.54% MTD, +12.17% QTD, +35.23% YTD, -0.55% from record 9,022.39 set 12/26/19.

SPX ends December and 2019 at 3,230.78, -0.29% from last Friday, +2.86% MTD, +8.53% QTD, +28.88% YTD, -0.29% from record 3,240.02 set 12/27/19.

The December 2019 tally YTD is:
The Stock Market Bull: 10 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

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Filed Under: Recaps Tagged With: acquisitions, Business Intelligence, business news, Economy, Investing, Leadership, Market Research, mergers, Money, Personal Finance, Rankings, Recap, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 December 2019 Stocks & Commodities Snapshots

January 3, 2020 by admin

December 2019 The PBR1000:

A Month and Year for The Stock Market Bull

The Stock Market Bull totally dominates The Stock Market Bear in 2019, and makes it look easy. Can it continue in 2020?

By Larry C. Paxton

The December 2019 News Summary: On the international news front, after over a year of negotiations, President Trump announced on the last day of the year that a US/China Phase 1 trade deal would be signed on 01/15/20. During the month the US Congress passed the US/Mexico/Canada trade agreement that will replace NAFTA. In the UK Prime Minister Boris Johnson and his conservative party won the general election by a landslide and he has proclaimed the UK withdrawal from the EU, known as Brexit, on 01/31/20, trade deal or not. In Israel Benjamin Netanyahu won his Likud party nomination, the general election is scheduled for March, 2020, in the hopes that a coalition government can be formed. N Korea threatened a “Christmas Present” for the US, nothing happened, but N Korea continues to do some sword rattling. US economic news was mostly positive with modest/moderate growth forecast, and a much lower probability of a recession in 2020 by most economists. To help, Congress passed a $1.4 trillion spending bill that will go through September 2020. US politics was the big issue for the month as the US House held its hearings and then on political party lines voted to impeach President Trump. In some political wrangling apparently the needed documentation for the Senate to have a trial is being delayed, but the trial should take place in early 2020. As for the US stock exchanges, record highs fell throughout the month, a complete reversal from December 2018’s meltdown. The Stock Market Bear had no chance against a charged up The Stock Market Bull who easily took both the month and the year, one of the best ever.

The December 2019 tally YTD is:
The Stock Market Bull: 10 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

The December 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 21

Number of Gain(+)/Loss(-) Days: DJIA 14+/7-; NASDAQ 15+/6-; SPX 14+/7-.

Record Days: DJIA 7, NASDAQ 10, SPX 9

Longest Gain Streak(Consecutive Days): DJIA 5 days(12/11-17/19), NASDAQ 11 days(12/11-26/19), and SPX 5 days(12/11-17/19)

Longest Loss Streak(Consecutive Days): DJIA 3 days(11/29/19-12/03/19), NASDAQ 3 days(11/29/19-12/03/19), and SPX 3 days(11/29/19-12/03/19)

Big Swing Up Days(>1.00%): 1 day, 12/06/19(D +1.22%, N +1.00%)

Big Swing Down Days(<-1.00%): 2 days, 12/02/19(N -1.12%), 12/03/19(D -1.01%)

The PBR1000 December 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 December 2019 Snapshots. The price for stocks is for the close of trading on December 31, 2019, Month % Chg is compared to November 29, 2019, YTD % Chg is compared to December 31, 2018, and the 24 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the December 2019 edition with the complete 15 Snapshots and 28 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

Table 1(S11): The PBR1000 Top 5 Month Stock Price % Gainers

Table 1 Summary: The range was +76% to -52%. 698 out of 1,000 stocks were up 0% or more. The average was a gain of 2.41%, the median was a gain of 2.44%. The DJIA was +1.74%, NASDAQ +3.54%, SPX +2.86%.

Company	PBR Rank	Symbol	Price 12/31/19	Mo % Chg	YTD % Chg	24 Mos % Chg
Superior Energy	876	SPN	$ 5.01	+76	-85	-95
Eastman Kodak	980	KODK	$ 4.65	+71	+82	+50
Rite Aid	142	RAD	$ 15.47	+71	+9	-61
Stage Stores	955	SSI	$ 8.12	+69	+997	+383
TravelCenters	457	TA	$ 17.15	+69	-9	-16

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +997% to -98%. 799 out of 993 stocks were up 0% or more. The average was a gain of 27.56%, the median was a gain of 23.03%. The DJIA was +22.34%, NASDAQ +35.23%, SPX +28.88%.

Company	PBR Rank	Symbol	Price 12/31/19	Mo % Chg	YTD % Chg	24 Mos % Chg
Stage Stores	955	SSI	$ 8.12	+69	+997	+383
Diebold Nixdorf	553	DBD	$ 10.56	+45	+324	-35
Snap	989	SNAP	$ 16.33	+7	+196	+12
FannieMae	22	FNMA	$ 3.12	+13	+194	+18
FreddieMac	40	FMCC	$ 3.00	+18	+186	+19

Table 3(S13): The PBR1000 Top 5 24 Months Stock Price % Gainers

Table 3 Summary: The range was +383% to -99%. 554 out of 991 stocks were up 0% or more. The average was a gain of 13.99%. The median was a gain of 5.33%. The DJIA was +15.45%, NASDAQ +29.97%, SPX +20.84%.

Company	PBR Rank	Symbol	Price 12/31/19	Mo % Chg	YTD % Chg	24 Mos % Chg
Stage Stores	955	SSI	$ 8.12	+69	+997	+383
AMD	442	AMD	$ 45.86	+17	+148	+346
Crocs	996	CROX	$ 41.89	+20	+61	+231
Chipotle	534	CMG	$ 837.11	+3	+94	+190
Rent-A-Center	796	RCII	$ 28.84	+11	+78	+160

Table 4(S15): The PBR1000 Top 5 Market Capitalization

Table 4 Summary: The range was $1,288 billion to $0.01 billion. The average is $30.273 billion, median is $8.52 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 12/31/19	Mo % Chg	YTD % Chg	24 Mos % Chg
Apple	3	AAPL	$ 1,288 B	+8	+61	+36
Microsoft	19	MSFT	$ 1,202 B	+3	+51	+76
Alphabet	17	GOOG	$ 923 B	+2	+26	+24
Amazon	5	AMZN	$ 916 B	+2	+25	+62
Facebook	57	FB	$ 583 B	+1	+50	+12
The PBR1000			$ 30,273 B	+2	+28	+17

Table 5: The PBR1000 Index & Primary US Stock Exchanges/Commodities

Company	Price 12/31/19	Mo % Chg	YTD % Chg	24 Mos % Chg
The PBR1000	99,273.68	+2.4	+27.6	+14.0
DJIA	28,538.44	+1.7	+22.3	+15.5
NASDAQ	8,972.60	+2.9	+35.2	+30.0
S&P500	3,230.78	+3.4	+28.9	+20.8
GOLD	1,520.00	+3.2	+18.3	+16.5
SILVER	17.90	+4.6	+15.0	+5.4
OIL	61.21	+11.0	+33.6	+1.9

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Disclaimers: The PBR1000 is compiled from a variety of publicly available resources. As such, PBRMarketTools.com is not responsible for the data itself. Any liability for the representations or decisions based on the data is solely the responsibility of the authorized user, not PBRMarketTools.com, its employees or affiliates. PBRMarketTools.com is a provider of news, data, and analysis, and is not a financial advisor firm.

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The PBR1000 December 2019 Breaking News Recap

December 28, 2019 by admin

The PBR1000: Christmas Gifts from Washington a Mixed Bag?

What gifts will The PBR1000 receive at the end of 2019? Deregulation has been helpful for business, it would be nice to get the USMCA approved, closing a beneficial US/China trade deal would be great, but the impeachment process might push these into 2020.

By Larry C. Paxton

The December 2019 breaking news items of interest for The PBR1000 follow with the most current date first.

***Tuesday, December 31

The PBRMarketTools US Stock Exchanges Recap for December 2019 ending 12/31/19:

DJIA ends December and 2019 at 28,538.44, -0.37% from last Friday, +1.74% MTD, +6.02% QTD, +22.34% YTD, -0.37% from record 28,645.26 set 12/27/19.

NASDAQ ends December and 2019 at 8,972.60, -0.38% from last Friday, +3.54% MTD, +12.17% QTD, +35.23% YTD, -0.55% from record 9,022.39 set 12/26/19.

SPX ends December and 2019 at 3,230.78, -0.29% from last Friday, +2.86% MTD, +8.53% QTD, +28.88% YTD, -0.29% from record 3,240.02 set 12/27/19.

The December 2019 tally YTD is:
The Stock Market Bull: 10 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

Uber(PBR272 $UBER), Postmates sue California in federal court over state gig-work law AB5. San Francisco Chronicle PR link.

Newell Brands(PBR343) completes sale of its $112 million in revenues in 2018 The United States Playing Card Company to Cartamundi Group, a leading manufacturer and distributor of playing cards and board games, terms not disclosed, marks the conclusion of the Accelerated Transformation Plan that Newell had initiated in 01/18. $NWL PR link.

Regis Corp(PBR998) takes back around 200 mall based Regis and Mastercuts brands salons in transfer from The Beautiful Group because of lease obligations, Regis remains committed to franchise business model. $RGS PR link.

The US Dept of Treasury says the US 12/30/19 National Debt-Public is at $17.134 trillion, Intragovernmental $5.975 trillion, Total Debt $23.109 trillion, +0.1% from 11/27/19, +5.2% from 12/31/18. USTreasury PR link.

The US Dept of Treasury says the US 12/31/19 10 Year Treasury Note Yield is 1.92%, 11/29/19 was at 1.78%, 10/31/19 1.69%, 12/31/18 2.69%. USTreasury PR link.

The Conference Board says the US Preliminary December 2019 Consumer Confidence Index is at 126.5, November 2019 was at 126.8, October 2019 126.1, December 2018 126.6. “While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020.” TCB PR link.

The S&P CoreLogic Case-Shiller US October 2019 Home Price Index(Jan2000=100) is at 212.43, September 2019 was at 212.21, August 2019 212.02, October 2018 205.57. “October’s U.S. housing data continue to be reassuring … With October’s 3.3% increase in the national composite index, home prices are currently more than 15% above the pre-financial crisis peak reached July 2006. October’s results were broad-based…” Case-Shiller PR link.

The American Automobile Assn says the US 12/31/19 Average Price of Regular Gas Per Gallon is at $2.583, 11/29/19 was at $2.587, 10/31/19 $2.614, 12/31/18 $2.266. AAA PR link.

***Monday, December 30

ExxonMobil(PBR2) has secured more than 1.7 million acres for exploration offshore Egypt, will hold 100% interest, operations, including acquisition of seismic data, are scheduled to begin in 2020. $XOM PR link.

Johnson & Johnson(PBR36)’s Janssen unit completes $750 million acquisition of all rights to the investigational compound bermekimab, an anti-IL-1alpha monoclonal antibody (mAb) in Phase 2 development for the treatment of atopic dermatitis and hidradenitis suppurativa, from XBiotech. $JNJ PR link.

Merck(PBR73) and AstraZeneca get US FDA approval for LYNPARZA for the maintenance treatment of adult patients with deleterious or suspected deleterious germline BRCA-mutated (gBRCAm) metastatic pancreatic adenocarcinoma whose disease has not progressed on at least 16 weeks of a first-line platinum-based chemotherapy regimen. $MRK PR link.

Tesla(PBR141) China tweets it “… will deliver the first China-made Model 3 at Gigafactory 3 plant in Shanghai TODAY. The 15 customers who are slated to get their Model 3s first are Tesla employees.” $TSLA PR link.

Performance Food(PBR158) completes $2.0 billion acquisition of Rosemont, IL based $6+ billion in annual net revenues second largest privately held US foodservice distributor Reinhart Foodservice from Reyes Holdings. $PFGC PR link.

Hasbro(PBR553) completes $4.0 billion cash acquisition of Canada based global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content, including popular pre-teen characters Peppa Pig and PJ Masks, Entertainment One Ltd(LSE: ETO). $HAS PR link.

Hologic(PBR677) completes $205 million cash sale of its 825 employees Cynosure medical aesthetics business to Clayton, Dubilier & Rice. $HOLX PR link.

Verso Corp(PBR791) announces annual meeting set for 01/31/20, encourages vote in favor of sale of its Androscoggin mill, located in Jay, ME, and its Stevens Point mill, located in Stevens Point, WI, to Pixelle Specialty Solutions for $400 million, encourages vote for its slate of directors, explains why it thinks Atlas/BlueWolf nominees are not in the best interest of company. $VRSPR link.

CenturyLink(PBR128) non-executive Chairman Harvey Perry will retire effective 05/20, T. Michael Glenn will assume the position of Chairman, current Vice Chairman Bruce Hanks will continue to serve in that role. $CTL PR link.

Avis Budget(PBR330) appoints President/Americas Joe Ferraro as Interim CEO, effective 01/01/20, succeeds retiring President/CEO Larry De Shon, CFO Izzy Martins to serve as Interim President/Americas. $CAR PR link.

The MNI US December 2019 Chicago Business Barometer(<50=Declining) is at 48.9, November 2019 was at 46.3, October 2019 43.2, December 2018 63.8. MNI/ISM Chicago PR link.

***Friday, December 27

The PBRMarketTools US Stock Exchanges Recap for Week 52 ending 12/27/19:

DJIA ends Week 52 at record 28,645.26, +0.67% from last Friday, +2.12% MTD, +6.42% QTD, +22.80% YTD, +0.00% from record 28,645.26 set 12/27/19.

NASDAQ ends Week 52 at 9,006.62, +0.91% from last Friday, +3.94% MTD, +12.59% QTD, +35.74% YTD, -0.17% from record 9,022.39 set 12/26/19.

SPX ends Week 52 at record 3,240.02, +0.58% from last Friday, +3.15% MTD, +8.84% QTD, +29.25% YTD, +0.00% from record 3,240.02 set 12/27/19.

The Week 52 of 2019 News Summary: The impeachment process for President Trump has apparently stalled as the US House has announced it will not forward its results to the US Senate until it knows what the trial rules will be and who will be testifying. The impeachment trial is still expected to be held in the first month or so of 2020. US/China trade negotiations continue in a seemingly positive direction with China announcing it will roll back tariffs on some key categories. N Korea said it had a “Christmas present” for the US, but nothing materialized. The UK Brexit appears to be on track for early 2020. Israeli Prime Minister Benjamin Netanyahu wins the Likud Party primary election by a landslide, gets backing of his opponent, the general election is scheduled for 03/02/20. US economic data continues to indicate growth with mostly positive outlooks by experts for 2020. Christmas retail sales showed better than expected growth, especially from e-commerce. With Christmas being celebrated mid-week with a shortened Christmas Eve day the US stock exchanges experienced lower volumes. With mostly good news The Stock Market Bear did not have much of a chance for the week. The Stock Market Bull donned his Santa hat, investors gladly accepted record closes throughout the week, and The Stock Market Bull easily took a 3-0 victory in Week 52.

The Week 52 of 2019 tally YTD is:
The Stock Market Bull: 28 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 9 weeks

Owens-Illinois(PBR419) now a holding company, changes name to O-I Glass, Inc, keeps OI ticker symbol. $OI PR link.

Michaels Cos(PBR510) hires Ashley Buchanan as President/CEO Designate and Board member, effective 01/06/20, to succeed Mark Crosby as CEO on 04/01/20, Crosby to remain on the Board. $MIK PR link.

The US Energy Information Administration says the US Millions of Barrels of Crude Oil Stocks on 12/20/19 was at 441.4, 11/22/19 was at 452.0, 10/25/19 438.9, 12/31/18 441.4. USEIA PR link.

The US Dept of Commerce/BEA says the US Preliminary 3Q19 Net International Investment Position-Assets is at $28.262 trillion, Liabilities $39.211 trillion, Deficit $10.949 trillion, +3.2% from 2Q19, +12.9% from 3Q18. USDOC PR link.

***Thursday, December 26

Amazon(PBR5) to open a new 1+ million sf fulfillment center in Deltona, FL, creating more than 500 new, full-time jobs. $AMZN PR link.

Tesla(PBR141) gets around $1.29 billion secured loan and a $320 million unsecured revolving loan through Chinese banks to pay off a $500 million loan and in support of its Gigafactory Shanghai. $TSLA PR link.

WESCO(PBR365) ups its bid for Anixter(PBR356) from $90/share to $93.50/share cash & stock, explains why its bid is superior to Clayton, Dubilier & Rice‘s $86/share plus a $2.50/share of contingent, capped upside. $WCC PR link.

The US Dept of Labor says the US 12/21/19 4 Week Moving Average Initial Unemployment Insurance Claims were at 228,000, +3.8% from 11/23/19, +4.6% from 12/22/18; The 12/14/19 Total Insured Unemployment 4 Week Moving Average is at 1,703,500, +1.4% from 11/16/19, +1.7% from 11/17/18; Insured Unemployment Rate is at +1.2%. USDOL PR link.

FreddieMac(PBR40) says the US Average 30 Year Fixed Mortgage Rate on 12/26/19 is 3.74% with 0.7 points/fees, on 11/27/19 it was at 3.68%, 10/31/19 3.78%, 12/27/18 4.55%. “While the outlook for the housing market is bright, worsening housing affordability is no longer a coastal phenomenon and is spreading to many interior markets and it is a threat to the continued recovery in housing and the economy.” $FMCC PR link.

MasterCard(PBR207) says 2019 US holiday retail sales increased 3.4 percent (ex auto) with online sales growing 18.8 percent compared to 2018. $MA PR link.

***Wednesday, December 25

***Christmas Day
***US Stock Exchanges Closed.
***Have a Merry and Blessed Christmas Day!

***Tuesday, December 24

Mylan(PBR273 $MYL) and Micro Labs get US FDA approval for two applications for the first generics of Eliquis (apixaban) tablets to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation. FDA PR link.

WESCO(PBR365) confirms it is seeking to acquire Anixter(PBR356), recently made an offer valued at $90 per Anixter share. $WCC PR link.

KKR(PBR831) to acquire OverDrive, provider of the largest catalog of ebooks, audiobooks, magazines and other digital media for libraries and schools, from Rakuten USA, a wholly owned subsidiary of Rakuten, terms not disclosed. $KKR PR link.

Uber(PBR272) co-founder and former CEO Travis Kalanick will resign from the Board , effective 12/31/19, to focus on his new business and philanthropic endeavors. $UBER PR link.

The Federal Reserve Bank of Richmond says the US 5th District December 2019 Manufacturing Index(Annualized) is at -5%, November 2019 was at -1%, October 2019 +8%, December 2018 -3%. “Manufacturers … reported weakness in local business conditions and capacity utilization, but they were optimistic that conditions would improve in the coming months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District December 2019 Service Sector Revenue Index(Annualized) is at +17%, November 2019 was at +15%, October 2019 +24%, December 2018 +10%. “Firms … saw improving local business conditions and increased spending, … were optimistic that conditions would continue to improve in the next six months.” RichmondFed PR link.

***Monday, December 23

PG&E(PBR182) creditors offer to pay $13.5 billion cash upfront to fire victims, follows deal from PG&E management that was approved 12/17/19 by a US bankruptcy judge would pay victims $5.4 billion in cash, with the rest of the compensation coming as deferred payments and stock in the utility after it emerges from bankruptcy reorganization. $PCG PR link.

Allergan(PBR197) gets US FDA approval for UBRELVY™ (ubrogepant) for the acute treatment of migraine with or without aura in adults. $AGN PR link.

Biogen(PBR233) authorizes an up to $5.0 billion share repurchase program, no expiration date, is in addition to the $5.0 billion share repurchase program authorized 03/25/19. $BIIB PR link.

Advance Auto Parts(PBR317) has acquired the DieHard brand from Transform Holdco for $200 million cash. $AAP PR link.

Genworth Financial(PBR339) sale to China Oceanwide for $5.43/share, $2.7 billion cash close extended from 12/31/19 to 03/31/20, the 13th waiver, to get additional US, China, Canada and other regulatory approvals, includes deal termination option for either party. $GNW PR link.

Campbell Soup(PBR340) completes $2.2 billion sale of its Australia brand Arnott’s, $885 million in the latest 12 months and approximately 3,800 employees, and certain of Campbell’s International operations to KKR(PBR832). $CPB PR link.

Anixter(PBR356) amends and restates acquisition by private investment firm Clayton, Dubilier & Rice, increased to $86.00/share and a $2.50 contingent value right, around $4 billion, to be completed in early 02/20. $AXE PR link.

KKR(PBR831) enters Seattle, WA, real estate market with two transactions totaling over $1.2 billion located in the greater Seattle region, including the 915,000 sf Class A office complex Summit located in downtown Bellevue and the 43 story 516,000 sf office condominium F5 Tower in downtown Seattle. $KKR PR link.

Cincinnati Bell(PBR972) to be acquired by Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) for $10.50/share cash, around $2.6 billion, includes debt, to close by end of 2020. $CBB PR link.

Boeing(PBR28) CEO/Board member Dennis A. Muilenburg resigns, Chairman David L. Calhoun to become President/CEO on 01/13/20, Board member Lawrence W. Kellner will become non-executive Chairman, CFO Greg Smith will serve as interim CEO during the brief transition period. $BA PR link.

CDW(PBR191) director David W. Nelms will become non-executive Chairman, effective 01/01/20, succeeds retiring Executive Chairman Thomas E. Richards. $CDW PR link.

State Street(PBR252) appoints CEO Ronald P. (Ron) O’Hanley to also be Chairman, effective 01/01/20, following Chairman Jay Hooley’s planned retirement. $STT PR link.

The US Dept of Commerce/HUD says the US Preliminary November 2019 New Family Homes Sold Annual Rate is at 719,000, +1.3% from October 2019, +16.9% from November 2018; Median Price was at $330,800, +4.5% from October 2019, +7.2% from November 2018; Months Supply is at 5.4. USDOC PR link.

The Federal Reserve Bank of Chicago says the US Preliminary November 2019 National Activity Index is at +0.56, October 2019 was at -0.76, September 2019 -0.54, November 2018 +0.25. ChiFed PR link.

***Friday, December 20

The PBRMarketTools US Stock Exchanges Recap for Week 51 ending 12/20/19:

DJIA ends Week 51 at record 28,455.09, +1.14% from last Friday, +1.44% MTD, +5.71% QTD, +21.98% YTD, +0.00% from record 28,455.09 set 12/20/19.

NASDAQ ends Week 51 at record 8,924.96, +2.18% from last Friday, +2.99% MTD, +11.57% QTD, +34.51% YTD, +0.00% from record 8,924.96 set 12/20/19.

SPX ends Week 51 at record 3,221.22, +1.65% from last Friday, +2.55% MTD, +8.21% QTD, +28.50% YTD, +0.00% from record 3,221.22 set 12/20/19.

The Week 51 of 2019 News Summary: The biggest news item of the week was US politics with the US House of Representatives Democrat party majority voting to impeach President Trump on 2 counts. The next stop will be a trial in early 2020 in the US Senate, the outcome most likely to be an acquittal by the Republican majority. On the other hand, President Trump achieved a major victory with passage of the US/Mexico/Canada(USMCA) trade agreement in the US House by a wide non-partisan majority. Also, it appears the US/China trade negotiations have resulted in a Phase 1 agreement, details to be released in early 2020. The UK is poised to complete Brexit in the next month after the recent major general elections victory of the conservative party. The US Congress has also passed a government spending bill for $1.4 trillion for the fiscal year ending 09/30/20. Overall, the US economy continues to move forward at a modest/moderate rate, with business and consumer surveys indicating a positive mood and expectations for the next 6 months. The US stock exchanges seemed unfazed by the impeachment result but grabbed onto the economic news instead. All stock exchanges reached new records every day except Wednesday when the NASDAQ was the only record breaker, but was the best week of the year with 13 out of 15 sessions hitting new records. The Stock Market Bull ends Week 51 by standing proudly on the pasture hill overlooking a relaxed and peaceful herd with a resounding 3-0 victory and with The Stock Market Bear nowhere in sight.

The Week 51 of 2019 tally YTD is:
The Stock Market Bull: 27 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 9 weeks

Johnson & Johnson(PBR36) acquires TARIS Biomedical, a privately-owned biotechnology company specializing in the development of a novel drug delivery technology for the treatment of bladder diseases including cancer, terms not disclosed. $JNJ PR link.

Merck(PBR72) gets US FDA approval for ERVEBO® (Ebola Zaire Vaccine, Live) for the prevention of disease caused by Zaire ebolavirus in individuals 18 years of age and older. $MRK PR link.

ViacomCBS(PBR241) to acquire a 49% stake in MIRAMAX from beIN MEDIA GROUP who will retain the other 51% stake, for $150 million cash upfront plus an annual investment of $45 million/year for 5 years, total investment $375 million, to close in 1Q20. $VIAC PR link.

MGM Resorts(PBR257) completes $825 million sale of its 2,300 employees Circus Circus Las Vegas to an affiliate of Treasure Island owner Phil Ruffin. $MGM PR link.

Anixter(PBR355) to hold a special meeting of its stockholders on 02/04/20 to vote on $81.00/share, around $3.8 billion in cash, acquisition by private investment firm Clayton, Dubilier & Rice. $AXE PR link.

Spirit AeroSystems(PBR402) says Boeing(PBR28) has directed the company to stop all 737 MAX deliveries to Boeing effective 01/01/20, due to Boeing’s announced temporary suspension of 737 MAX production, represents 50%+ of revenues, evaluating all potential actions. $SPR PR link.

IAC(PBR588) to acquire Care.com (NYSE: CRCM), the world’s largest online marketplace for finding and managing family care with 374,000 paying families as of 3Q19, for $15.00/share cash, around $500 million of enterprise value, to close in 1Q20. $IAC PR link.

TransDigm(PBR627) completes its around $920 million sale of its France based global supplier of highly-engineered interconnect solutions for harsh environments serving customers primarily in aerospace, defense and space end markets $363 million in revenues for year ending 06/30/19 Souriau-Sunbank Connection Technologies unit to Eaton Corp(PBR138), was part of Esterline Technologies acquisition completed in 03/19. $TDG PR link.

Ferrellgas(PBR945) to voluntarily delist its common units from the NYSE, believes the delisting from the NYSE will be a temporary event, expects delisting to occur around 01/09/20, to apply to have its common units quoted on the OTCQB tier of the OTC Markets. $FGP PR link.

The US Dept of Commerce/BEA says the US 3Q19 3rd Estimate Gross Domestic Product Annual Rate remains at 2.1%, $21.543 trillion, +1.0% from 2Q19, +3.8% from 3Q18. USDOC PR link.

The US Dept of Commerce/BEA says the US Preliminary November 2019 Personal Income Annual Rate is at $18.911 trillion, +0.5% from October 2019, +4.9% from November 2018, Personal Savings is at $1.315 trillion, a 7.9% rate, Effective Tax Rate is at 11.7%. USDOC PR link.

The U of Michigan Final December 2019 Consumer Survey Index is at 99.3, November 2019 was at 96.8, October 2019 95.5, December 2018 98.3. UMichigan PR link.

***Thursday, December 19

US Steel(PBR219) to indefinitely idle a significant portion of its Great Lakes Works operation near Detroit, MI, to begin idling the iron and steelmaking facilities on or around 04/01/20, and the Hot Strip Mill rolling facility before the end of 2020, will affect up to 1,545 employees. In separate press release announces cut in dividend and termination of share repurchase program. $X PR link.

Live Nation(PBR283) gets preliminary settlement agreement with the US Dept of Justice for its TicketMaster unit violations, to extend non-compete with venues using other ticketing agents for an additional 5 1/2 years past original 10 years specified. $LYV PR link.

Owens-Illinois(PBR418) completes sale of its 25% partnership interest in Tata Chemicals (Soda Ash) Partners Holdings to Valley Holdings, Inc., a wholly-owned subsidiary of Tata Chemicals Limited, for $195 million cash, first transaction of $400-500 million divestiture plan. $OI PR link.

Avon Products(PBR489) $3.7 billion acquisition by Brazil based Natura &Co (B3: NATU3) gets all needed regulatory approvals, to close on 01/03/20, Natura & Co to begin trading as NYSE: NTCO on 01/06/20. $AVP PR link.

Ascena Retail(PBR494) does 1:20 reverse stock split to regain compliance with NASDAQ listing requirements. $ASNA PR link.

IAC(PBR588)’s Match Group(NASDAQ: MTCH) to be spunoff as a separate independent public company, to close in 2Q20. $IAC PR link.

PolyOne(PBR656) to acquire certain color and additive masterbatch businesses from Clariant for $1.45 billion, includes 3,600 employees in 29 countries and doing $1.15 billion in revenues over past 12 months. $POL PR link.

Cedar Fair(PBR976) appoints Dan Hanrahan as its independent board Chairman, effective 01/01/20, succeeds Executive Chairman Matthew A. Ouimet who will remain on the Board. $FUN PR link.

The US Dept of Commerce/BEA says the US Preliminary 3Q19 Total Exports of Goods & Services was at $944.4 billion, Imports $1,068.5 billion, for a Deficit of $124.1 billion, -0.9% from 2Q19, -1.3% from 3Q18. USDOC PR link.

The US Reserve Bank of Philadelphia says the 3rd District December 2019 Manufacturing General Activity Indicator is at +0.3, November 2019 was at +10.4, October 2019 +5.6, December 2018 +9.1. “The survey’s future indexes indicate that respondents continue to expect growth over the next six months.” PhillyFed PR link.

The Natl Assn of Realtors says the US November 2019 Existing Home Sales Annual Rate is at 5,350,000, -1.7% from October 2019, +2.7% from November 2018; Median Price is at $271,300, +0.1% from October 2019, +5.4% from November 2018; Total Housing Inventory is at 1,640,000, a 3.7 months supply. “Sales will be choppy when inventory levels are low, but the economy is otherwise performing very well with more than 2 million job gains in the past year …” NAR PR link.

The Conference Board says the US Preliminary November 2019 Leading Economic Index(2016=100) is at 111.6, October 2019 was also at 111.6, September 2019 111.8, November 2018 111.4. “… the Index suggests that economic growth is likely to stabilize around 2 percent in 2020.” TCB PR link.

***Wednesday, December 18

Chevron(PBR11) to acquire Australia based Puma Energy Holdings for around $292 million, includes network of company-owned and retailer-owned service stations in Australia, a commercial and industrial fuels business, owned or leased seaboard import terminals and fuel distribution depots, to close in mid 2020. $CVX PR link.

Alphabet(PBR17)’s Google is joining Amazon(PBR5), Apple(PBR3) and others to create Connected Home over IP, a new independent working group managed by the Zigbee Alliance with the goal to bring together market-tested technologies to develop a new, open smart home connectivity standard based on Internet Protocol (IP). $GOOG PR link.

MetLife(PBR45) to pay $10 million to the US Securities and Exchange Commission for violating the books and records and internal accounting controls provisions of the federal securities laws relating to two errors in its accounting for reserves associated with its annuities businesses. $MET PR link.

Facebook(PBR57 $FB) has acquired Spanish cloud gaming company PlayGiga for about €70 million ($78 million) as it looks to expand into the gaming market. SiliconANGLE PR link.

Cigna(PBR64) to sell its group life and disability insurance business to New York Life for $6.3 billion cash, to close in 3Q20, Cigna increases share repurchase program from $1.0 billion to $4.0 billion. $CI PR link.

Uber(PBR272 $UBER) to set up a $4.4 million fund to resolve US Equal Employment Opportunity Commission sexual harassment and retaliation charges filed since 01/01/14, EEOC commends Uber for working cooperatively on harassment prevention and accountability. EEOC PR link.

Voya Financial(PBR345) to divest substantially all of the company’s Individual Life and other legacy non-retirement annuities businesses to Resolution Life Group Holdings for around $1.7 billion, to close by 09/30/20. $VOYA PR link.

Superior Energy(PBR875) does 10:1 reverse stock split to be in compliance with NYSE listing standards, will list on NYSE starting 12/26/19 with previous symbol SPN, currently on OTC as SPNV. $SPNV PR link.

Superior Energy(PBR875) to divest its US service rig, coiled tubing, wireline, pressure control, flowback, fluid management and accommodations service lines and combine them with Forbes Energy Services Ltd(OTCQX: FLSS)‘s complementary service lines to create a new, publicly traded consolidation platform for US completion, production and water solutions, to close in 1Q20. $SPNV PR link.

Healthpeak Properties(PBR915) expanding with expansion of its life science, senior housing and medical office businesses. $PEAK PR link.

FMC(PBR542) President/COO Mark Douglas to become President/CEO on 06/01/20, to succeed Pierre Brondeau who will become Executive Chairman. $FMC PR link.

The US Dept of Labor says the US 3Q19 Average Hourly Wages & Salaries for All Workers was at $25.43, Benefits $11.60, Total $37.03, +1.2% from 2Q19, +1.1% from 3Q18. USDOL PR link.

***Tuesday, December 17

Ford(PBR12) will invest $750 million and add 2,700 new direct jobs in the next 3 years at Ford’s manufacturing facility in Wayne, MI, to build the new Ford Bronco, an all-new Ford Ranger and a new modification center to support autonomous vehicles and other vehicles, also will invest about $700 million and add 300 new direct jobs at its Dearborn, MI, manufacturing site to support production of the all-new Ford F-150, F-150 hybrid and the all-electric F-150, including battery assembly. $F PR link.

Southwest Airlines(PBR137) is proactively removing Boeing(PBR28)’s 737 MAX from its flight schedule, originally was set through 03/06/20, now set through 04/13/20. $LUV PR link.

Estee Lauder(PBR210) completes acquisition of the shares that it does not already beneficially own in Have & Be Co. Ltd., the Seoul-based, global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing, has an enterprise value of around $1.7 billion. $EL PR link.

Arconic(PBR226) files preliminary Registration Form 10 with SEC to separate its Arconic Rolled Products Corporation into a separate public company to be named Arconic Corporation, existing company will be renamed Howmet Aerospace Inc upon separation, to close in 2Q20. $ARNC PR link.

Devon Energy(PBR287) to sell its assets in the Barnett Shale to Banpu Kalnin Ventures for $770 million, to close in 2Q20, authorizes a new $1 billion share-repurchase program, bringing the total repurchase authorization to $6 billion, expires 12/31/20. $DVN PR link.

Leidos(PBR300) to acquire privately-owned Huntsville, AL based applied research and national security solutions company Dynetics for $1.65 billion cash, to close in 1Q20. $LDOS PR link.

Weyerhaeuser(PBR391) to sell its 630,000 acres of timberland in Montana to a private timberland investment company for $145 million cash, does not include 3 manufacturing facilities. $WY PR link.

First Solar(PBR860) completes sale of 3 projects in Arizona, Nevada, and California, with a total nameplate design of 278 megawatts (MW)AC, to partnership of EDP Renewables and ConnectGen, First Solar Energy Services to be operator, terms not disclosed. $FSLR PR link.

Regis Corp(PBR998) enters agreement for the sale and conversion of an additional 133 company-owned salons located in the state of Pennsylvania and surrounding areas to the Alline Salon Group. $RGS PR link.

Bed Bath & Beyond(PBR251) announces extensive restructure of its leadership team, including the departure of six senior members, has commenced a search to fill the positions of Chief Merchandising Officer, Chief Digital Officer, General Counsel, as well as a newly combined Chief Marketing and Brand Officer position. $BBBY PR link.

The US Dept of Labor says the US Preliminary October 2019 Job Openings-Private are at 6,523,000, Government 744,000, Total 7,267,000, +3.3% from September 2019, -4.3% from October 2018. USDOL PR link.

The US Dept of Commerce/HUD says the US Preliminary November 2019 Total New Residential Building Permits Issued Annual Rate is at 1,482,000, October 2019 was at 1,461,000, September 2019 1,391,000, November 2018 1,334,000. USDOC PR link.

The US Federal Reserve says the US Preliminary November 2019 Industrial Production % of Capacity is at 77.3%, October 2019 was at 76.6%, September 2019 77.4%, November 2018 79.6%. USFed PR link.

***Monday, December 16

Boeing(PBR28) suspends 737 MAX production starting in 01/20 due to certification moving into 2020, no layoffs or furlough expected at this time. $BA PR link.

Intel(PBR43) has acquired Habana Labs, an Israel-based developer of programmable deep learning accelerators for the data center for approximately $2 billion. $INTC PR link.

Humana(PBR56) to acquire privately held national hospice pharmacy and benefit management services provider to 97,000 patients per day Enclara Healthcare from Consonance Capital Partners and Enclara management, to close in 1H20, terms not disclosed. $HUM PR link.

Cisco(PBR62) acquires Australia based low-latency networking, layer 1 switching, timing and time synchronization technologies, and low-latency FPGA expertise developer Exablaze, terms not disclosed. $CSCO PR link.

Tyson(PBR75 $TSN) gets approval from US and Chinese authorities to export American poultry to China from all 36 of its US processing plants, expects to begin taking orders early next year. NYTimes PR link.

Coca-Cola(PBR95) in 3 hours of launch sells out 1,000 Coca-Cola Insiders Club subscription program for $10/mo or $50/6 mo prepaid, to taste some of 20-plus new drinks launching in early 2020. $KO PR link.

Kinder Morgan(PBR222) completes $2.5 billion cash/stock sale of its US portion of the Cochin Pipeline to Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA). $KMI PR link.

Newmont Goldcorp(PBR401) to sell its 50% stake in Kalgoorlie Consolidated Gold Mines (KCGM) to Australia’s Northern Star Resources Limited (ASX: NST) for $800 million cash, to close in early 01/20. $NEM PR link.

Noble Energy(PBR527) to voluntarily transfer its stock exchange listing from the NYSE to the Nasdaq Global Select Market effective 12/27/19 after market close, will retain ticker NBL. $NBL PR link.

Intl Flavors & Fragrances(PBR607) to merge with DuPont(PBR35)’s Nutrition & Biosciences business, deal values the combined company at $45.4 billion on an enterprise value basis, DuPont to own 55.4% IFF 44.6% of company, DuPont to receive one-time $7.3 billion cash payment upon completion, scheduled to close be end of 1Q21. $IFF PR link.

TRI Pointe(PBR691) adds $50 million to its $100 million share repurchase program, balance available is now $77.2 million. $TPH PR link.

Charles River Labs(PBR856) to acquire human-derived cellular products for the cell therapy market producer HemaCare(OTCMKTS: HEMA) for $25.70/share, approximately $380 million cash, to close in early 1Q20. $CRL PR link.

Ferro Corp(PBR950) to sell its $510 million in revenues for 12 months ending 09/30/19 Tile Coatings Business to Pigments Spain, a company of the Esmalglass-Itaca-Fritta group, a portfolio company of Lone Star Funds, for $460 million in cash, with an additional $32 million in cash based on the performance of the business pre-closing. $FOE PR link.

WW(PBR960) and Oprah Winfrey extend partnership to 05/25. $WW PR link.

Dana(PBR364) President/CEO James K. Kamsickas elected to additional role of Chairman; Keith E. Wandell, who has served on Dana’s board since 07/08 and as non-executive chairman since 09/16, will continue as lead independent director. $DAN PR link.

TravelCenters(PBR460) hires Jonathan Pertchik as CEO/Managing Director, effective immediately, succeeds Andrew J. Rebholz, who will continue to advise the company through 06/30/20. $TA PR link.

The Federal Reserve Bank of New York says the Empire State December 2019 Manufacturing General Business Conditions Index is at 3.5, November 2019 was at 2.9, October 4.0, December 2018 11.5. “Optimism about the six-month outlook picked up, and capital spending plans were notably stronger.” NYFed PR link.

The Natl Assn of Home Builders/Wells Fargo US Preliminary December 2019 Housing Market Composite Index is at 76, November 2019 was at 71, October 2019 71, December 2018 56. “Highest reading since June of 1999… Builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates and a strong labor market… are still underbuilding due to supply-side constraints like labor and land availability. Higher development costs are hurting affordability and dampening more robust construction growth.” NAHB/WF PR link.

***Friday, December 13

The PBRMarketTools US Stock Exchanges Recap for Week 50 ending 12/13/19:

DJIA ends Week 50 at 28,135.38, +0.43% from last Friday, +0.30% MTD, +4.53% QTD, +20.61% YTD, -0.10% from record 28,164.00 set 11/27/19.

NASDAQ ends Week 50 at record 8,734.88, +0.91% from last Friday, +0.80% MTD, +9.20% QTD, +31.64% YTD, +0.00% from record 8,734.88 set 12/13/19.

SPX ends Week 50 at record 3,168.80, +0.73% from last Friday, +0.89% MTD, +6.45% QTD, +26.41% YTD, +0.00% from record 3,168.80 set 12/13/19.

The Week 50 of 2019 News Summary: After a year it appears there is an agreement for a US/China Phase 1 trade deal, specifics not provided, tariffs scheduled to start 12/15/19 by the US have been cancelled. There also appears to be agreement on all sides for the new US, Mexico, Canada(USMCA) treaty which will replace NAFTA. Boris Johnson’s conservative party wins a big landslide vote in the UK and Johnson says Brexit will be completed by the end of next month. The Federal Open Market Committee met, kept the federal short term interest rate at 1.50-1.75%, says the US economy is growing at a modest rate, which appears to be the case with various economic indices released during the week. On the US political news front the US House Judiciary Committee held hearings on the impeachment of President Trump, then approved a 2 count impeachment. The vote will now go to the full House next week. In the first two days of Week 50 The Stock Market Bear seemed to be in control. But as the US/China news came out The Stock Market Bull made his appearance, took over the field, and won all 3 US stock exchanges in convincing style with records two days in a row for the NASDAQ and SPX(S&P500) to end Week 50.

The Week 50 of 2019 tally YTD is:
The Stock Market Bull: 26 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 9 weeks

AT&T(PBR9) enters into a $4 billion accelerated share repurchase agreement, to retire about 100 million shares in 1Q20. $T PR link.

Molina Healthcare(PBR163) authorizes up to $500 million share repurchase program through 12/31/21. $MOH PR link.

Chesapeake Energy(PBR299) receives written notice from the New York Stock Exchange of its noncompliance that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period, CHK outlines plans to regain compliance, has 6 months. $CHK PR link.

Boston Scientific(PBR310) gets US FDA clearance of the EXALT™ Model D Single-Use Duodenoscope for use in endoscopic retrograde cholangiopancreatography (ERCP) procedures, the first and only FDA cleared single-use (disposable) duodenoscope on the market. $BSX PR link.

McDermott Intl(PBR432) receives written notice from the New York Stock Exchange of its noncompliance that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period, MDR outlines plans to regain compliance, has 6 months. $MDR PR link.

Cerner(PBR506) adds $1.5 billion to its share repurchase program, balance available is now $1.7 billion. $CERN PR link.

Affiliated Managers Group(PBR834 $AMG), TripAdvisors(PBR949 $TRIP) and Macerich(NYSE: $MAC) being moved from the S&P 500 to S&P Midcap 400, being replaced on S&P 500 by Live Nation(PBR283 $LYV), Zebra Technologies(PBR593 $ZBRA) and Steris(PBR769 $STE). $SPX PR link.

Nucor(PBR114) Lead Director John H. Walker to become Non-Executive Chairman on 01/01/20. $NUE PR link.

The US Dept of Labor says the US Preliminary November 2019 Import Prices are +0.2%, Export Prices are also +0.2%, Last 12 Months Import Prices are -1.3%, Export Prices also -1.3%. USDOL PR link.

***Thursday, December 12

Chevron(PBR11) sanctions the Anchor project in the US Gulf of Mexico, initial development investment is around $5.7 billion, first deepwater high-pressure development to achieve a final investment decision. $CVX PR link.

Pepsi(PBR48) announces Pepsi Café, to debut in the US in 04/20, that blends coffee with Pepsi cola. $PEP PR link.

Facebook(PBR57 $FB) will pay $130 million to establish an independent board charged with reviewing how the company moderates its content. MarketWatch PR link.

American Airlines(PBR67) says in consultation with the US FAA and Boeing(PBR28) it anticipates resumption of scheduled commercial service on American’s fleet of Boeing 737 MAX aircraft on 04/07/20. $AAL PR link.

Delta(PBR68) Private Jets, a wholly owned subsidiary of Delta, to combine with Wheels Up, to create one of the world’s largest owned and managed fleets of private aircraft, to close in early 2020, terms not disclosed. $DAL PR link.

3M(PBR92) to sell substantially all of its $380 million in annual revenues drug delivery business to an Altaris Capital Partners affiliate for around $650 million and a 17% noncontrolling interest in the new company. $MMM PR link.

Southwest Airlines(PBR137) gets portion of projected financial damages related to the grounding of the airline’s Boeing(PBR28) 737 MAX aircraft, will add $125 million to the 2019 employee profitsharing program. $LUV PR link.

PG&E(PBR179) files amended Plan of Reorganization with the Bankruptcy Court in its Chapter 11 cases, reflects PG&E’s settlements with all major groups of wildfire claimants, keeps PG&E on track to achieve regulatory approval and Bankruptcy Court confirmation in advance of the 06/30/20, statutory deadline for participation in the state’s new wildfire fund. $PCG PR link.

eBay(PBR285) announces new Android/iOS app eBay Motors for buying and selling cars. $EBAY PR link.

Constellation Brands(PBR335) and E. & J. Gallo Winery have agreed to revise their original transaction to divest a portion of Constellation’s wine and spirits portfolio to address US FTC competitive concerns, transaction price adjusted from $1.7 billion to $1.1 billion. $STZ PR link.

Genworth Financial(PBR351) completes $1.8 billion net cash sale of its majority interest in Genworth MI Canada, the largest private sector residential mortgage insurer in Canada, to Brookfield Business Partners L.P. (NYSE: BBU) (TSX: BBU.UN), should increase the likelihood of subsequently completing the acquisition of Genworth by China Oceanwide Holdings Group by 12/31/19. $GNW PR link.

Asbury Automotive(PBR419) to acquire certain assets of Park Place Dealerships, includes 17 new vehicle franchises, 15 of which are located in the Dallas/Fort Worth market: 3 Mercedes-Benz, 2 Lexus, 2 Jaguar, 2 Land Rover, 1 Porsche, 1 Volvo, 1 Bentley, 1 Rolls Royce, 1 McLaren, 1 Maserati, 1 Karma, and 1 Sprinter. Included in the 17 franchises is a Jaguar/Land Rover open point in Austin, TX that is expected to open late 1Q20, for $1 billion cash, excluding vehicle inventory, to add $2 billion in annual revenues, to close by 03/31/20. $ABG PR link.

The US Dept of Labor says the US Preliminary November 2019 Producer Price Index-Final Demand is +0.0%, October 2019 was at +0.4%, September 2019 -0.3%, November 2018 -0.1%, Last 12 Months is at +1.1%. USDOL PR link.

The US Federal Reserve says the US Preliminary 3Q19 Networth of Households & Non-Profits is at $113.832 trillion, +0.5% from 2Q19, +3.4% from 3Q18. USFed PR link.

***Wednesday, December 11

Amazon(PBR5 $AMZN) gets five days by the UK Competition and Markets Authority to address competition concerns of investment in Deliveroo restaurant delivery service. MarketWatch PR link.

AT&T(PBR9) has entered into a $4 billion accelerated share repurchase agreement to retire about 100 million shares in 1Q20, has set a 2020 target of an additional 4% in cost reductions, or about $1.5 billion, driven primarily by lower labor-related costs and corporate overhead. $T PR link.

Kroger(PBR21) and Walgreens Boots Alliance(PBR16 $WBA) forms new group purchasing organization called Retail Procurement Alliance, aimed at delivering purchasing efficiencies, lower costs and combined resources to help drive further innovation. $KR PR link.

Tesla(PBR141 $TSLA) 2019 Model 3 gets electric vehicle top rating from Edmunds. Edmunds PR link.

Dominion Energy(PBR236) and Vanguard Renewables to form a $200+ million, nationwide strategic partnership to convert methane from US dairy farms into clean, renewable natural gas to heat homes, power businesses and fuel vehicles. $D PR link.

Ryder(PBR354) authorizes new 1.5 million share repurchase program, to mitigate the dilutive impact of shares issued under the company’s employee stock plans, currently has 53.3 million common shares outstanding, to expire 12/11/21. $R PR link.

Olin Corp(PBR414) to permanently shut down a chlor alkali plant with a capacity of 230,000 tons and its Vinylidene Chloride (VDC) production facility, both in Freeport, TX, to be completed by end of 2020. $OLN PR link.

Fortive(PBR444) appoints of Mark D. Morelli as President/CEO and David H. Naemura as CFO of NewCo, a global industrial company that Fortive will form as part of its planned separation into two independent, publicly traded companies, to be effective in 1Q20. $FTV PR link.

Continental Resources(PBR543) Founder/CEO Harold Hamm to become Executive Chairman, William Berry has been appointed CEO and President Jack Stark will assume the additional role of COO, all effective 01/01/20. $CLR PR link.

The US Dept of Treasury says the US November 2019 Federal Government Receipts were at $225.2 billion, Outlays $434.0 billion, Deficit $208.8 billion, Receipts YTD(2 months) are at $470.7 billion, Outlays YTD $814.0 billion, Deficit YTD is at $343.3 billion, Deficit YTD 2018 was at $305.4 billion. USTreasury PR link.

The US Dept of Labor says the US Preliminary November 2019 Current Average Earnings/Hour is at $28.29, Average Hours Worked/Week is at 34.4, Current Weekly Earnings is at $973.18, +0.3% from October 2019, +3.1% from November 2018. USDOL PR link.

The US Dept of Labor says the US November 2019 Consumer Price Index-All Items is +0.3%, October 2019 was at +0.4%, September 2019 +0.0%, November 2018 +0.0%, Last 12 Months(Unadjusted) is at +2.1%. USDOL PR link.

The US Federal Open Market Committee finishes its meeting and issues a statement saying, “Information received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate.” The FOMC votes to keep federal funds short term interest rates at 1.50%-1.75%. FOMC PR link.

***Tuesday, December 10

PBRMarketTools welcomes TransUnion, a leading US consumer credit reporting agency, to The PBR1000! Find out more at the $TRU Summary Profile.

ExxonMobil(PBR2) gets welcome verdict from the Supreme Court of the State of New York from lawsuit by the New York Attorney General regarding Exxon’s handling of information on its climate change research, release includes hotlink to full ruling. $XOM PR link.

Chevron(PBR11) estimates it will take non-cash, after tax impairment charges of $10 billion to $11 billion in its 4Q19 results, more than half related to the Appalachia shale project. $CVX PR link.

Chevron(PBR11) announces a 2020 organic capital and exploratory spending program of $20 billion. $CVX PR link.

Wells Fargo(PBR29) announces $0 trades on the WellsTrade® self-directed trading platform for stocks and exchange traded funds. $WFC PR link.

Tech Data(PBR84) $130/share around $5.4 billion acquisition by Apollo Global Mgmt(PBR995) set to be completed in 1H20, “Go-Shop” period has expired. $TECD PR link.

Cummins(PBR123) authorizes new up to $2 billion share repurchase program upon completion of its 2018 $2 billion share repurchase program. $CMI PR link.

Jacobs Engineering(PBR205) updating its ticker symbol from JEC to J, celebrates 30th anniversary on the NYSE on 12/15/19. $J PR link.

Conduent(PBR503) to move common stock trading from NYSE to NASDAQ effective 12/23/19, will continue to use ticker CNDT. $CNDT PR link.

LandStar(PBR550) increases its stock purchase program from 1,150,932 shares available to 3,000,000 shares. $LSTR PR link.

The US Dept of Labor says the US 3Q19 1st Revision Labor Productivity Output/Hr-All Persons is at -0.2%, the Preliminary Estimate was at -0.3%, 2Q19 was at +2.8%, 1Q19 +3.6%, 3Q18 +0.8%. USDOL PR link.

CoreLogic says the US September 2019 Housing Mortgage Loans 30 Or More Days Delinquent are at 3.8%, August 2019 was at 3.7%, July 2019 3.8%, September 2018 4.0%. CoreLogic PR link.

***Monday, December 9

UnitedHealth(PBR6)’s Optum unit to acquire specialty pharmacy and infusion services provider Diplomat Pharmacy(PBR495) for $4.00/share cash, around $288 million. $UNH PR link.

Johnson & Johnson(PBR36)’s Janssen unit to acquire to acquire all rights to the investigational compound bermekimab, an anti-IL-1alpha monoclonal antibody (mAb) in Phase 2 development for the treatment of atopic dermatitis and hidradenitis suppurativa, from XBiotech for $750 million. $JNJ PR link.

Merck(PBR72) to acquire biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases ArQule(Nasdaq: ARQL) for $20 per share cash, total equity value of around $2.7 billion, to close in 1Q20. $MRK PR link.

Marriott Intl(PBR149) completes $199 million acquisition of the Elegant Hotels Group, owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. $MAR PR link.

Group 1 Automotive(PBR263) acquires the only Lexus franchises in New Mexico, in Alburqurque and Santa Fe, are expected to generate approximately $90 million in annualized revenues. $GPI PR link.

Xerox(PBR309) releases a presentation for HP Inc(PBR55) shareholders, says $22/share bid is really worth $31/share. $XRX PR link.

Ryman Hospitality(PBR980) to acquire Block 21, a mixed-use entertainment, lodging, office and retail complex located in the heart of downtown Austin, TX, from Stratus Properties(NASDAQ: STRS) for $275 million, includes the assumption of approximately $141 million of existing mortgage debt. $RHP PR link.

Owens Corning(PBR411) Executive Chairman Mike Thaman to retire after 27 years with the company, President/CEO Brian Chambers elected to be Chairman, both effective after annual meeting in 04/20. $OC PR link.

FannieMae(PBR22) says the US November 2019 Home Purchase Sentiment Index is at 91.5, October 2019 was at 88.8, September 2019 91.5, November 2018 86.2. “Looking ahead, we continue to expect a steady but modest pace of growth in home purchase activity.” $FNMA PR link.

***Friday, December 6

The PBRMarketTools US Stock Exchanges Recap for Week 49 ending 112/06/19:

DJIA ends Week 49 at 28,015.06, -0.13% from last Friday, +3.58% MTD, +4.08% QTD, +20.09% YTD, -0.53% from record 28,164.00 set 11/27/19.

NASDAQ ends Week 49 at 8,656.53, -0.10% from last Friday, +4.39% MTD, +8.22% QTD, +30.46% YTD, -0.56% from record 8,665.47 set 11/27/19.

SPX ends Week 49 at 3,145.91, +0.16% from last Friday, +3.57% MTD, +5.68% QTD, +25.49% YTD, -0.24% from record 3,153.63 set 11/27/19.

The Week 49 of 2019 News Summary: At the beginning of the week President Trump indicated a US/China trade deal might not happen until after the 2020 elections, but by the end of the week the word was that a deal is “close.” The US House does not look like it will be able to act on the USMCA, a replacement for NAFTA, by the end of the year. On the US economy front the week started with lower numbers than hoped for for the manufacturing sector, but at the end of the week the jobs report was much more positive than expected. As for US politics, early Democrat Party front runner Kamala Harris suspended her presidential 2020 campaign for lack of funding and the US House has started the draft of the paperwork to formalize a vote for an impeachment trial of President Trump. The Stock Market Bear responded with some big time down numbers at the beginning of the week, but The Stock Market Bull responded with a huge comeback at the end of the week because of the jobs data. Bottomline, Week 49 ends mixed with The Stock Market Bear as the leader with a 2-1 edge by slim margins from all 3 major US stock indices.

The Week 49 of 2019 tally YTD is:
The Stock Market Bull: 25 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 9 weeks

The PBR1000 Analyst Recommendations as of 12/05/19:

Buy: 108 companies
Overweight: 559
Hold: 290
Underweight: 33
Sell: 5
No Recommendation: 5

Total: 1,000

Total Analyst Recommendations: 14,881

Click here to find out more about The PBR1000!

Amgen(PBR124) gets US FDA approval for AVSOLA™ (infliximab-axxq) for all approved indications of the reference product, Remicade® (infliximab): for the treatment of moderate-to-severe rheumatoid arthritis (RA), moderate-to-severe Crohn’s Disease in the adult and pediatric population, moderate-to-severe ulcerative colitis in the adult and pediatric population, chronic severe plaque psoriasis, psoriatic arthritis and ankylosing spondylitis. $AMGN PR link.

United Natural Foods(PBR143) to sell 13 of its 43 Shoppers Food & Pharmacy stores to three separate grocery operators, to close by end of 02/20, to close 4 other locations where leases will be up, part of transformation to become a food wholesaler only. $UNFI PR link.

PG&E(PBR179) gets agreement on final major settlement for $13.5 billion from the 2017 Northern California Wildfires and 2018 Camp Fire, on path to emerge from Chapter 11 bankruptcy prior to 06/30/20 deadline. $PCG PR link.

Post Holdings(PBR459) approves new $400 million share repurchase program, previous $400 million authorization is cancelled, had used $252 million. $POST PR link.

Alexion Pharmaceutical(PBR601) says after discussions with Elliott Management affiliate it has decided not to sell company, is focused on delivering long-term shareholder value by advancing its mission of developing and delivering transformative medicines for people with rare diseases. $ALXN PR link.

Marvell Technology(PBR755) completes $1.76 billion cash sale of its 550 employees $300 million in revenues in FY2019 Wi-Fi and Bluetooth technology portfolios and related assets to NXP. $MRVL PR link.

SL Green Realty(PBR984) increases it share repurchase program by $500 million, authorization is now for $3 billion. $SLG PR link.

The US Dept of Labor says the US November 2019 Employed is at 158,593,000, +83,000 from October 2019, +1,790,000 from November 2018, Unemployed is at 5,811,000, -43,000 from October 2019, -207,000 from November 2018, Unemployment Rate is at 3.5%, was 3.7% in November 2018. USDOL PR link.

The US Federal Reserve says the US Preliminary October 2019 Consumer Credit Outstanding-Revolving is at $1.089 trillion, Non-Revolving $3.077 trillion, Total $4.165 trillion, +0.5% from September 2019, +3.9% YTD(10 months), +4.9% from October 2018. USFed PR link.

The US Dept of Commerce/Census says the US Preliminary October 2019 Wholesale Sales-Durables were at $237.6 billion, Non-Durables $256.7 billion, Total $494.3 billion, -0.7% from September 2019, +1.4% from October 2018. USDOC PR link.

The U of Michigan US Preliminary December 2019 Consumer Sentiment Index is at 99.2, November 2019 was at 96.8, October 2019 95.5, December 2018 98.3. “While the implications of the economic expectations of Democrats and Republicans are clearly exaggerated, the Independents, who represent the largest group and are less susceptible to maintaining partisan views, hold very favorable expectations, indicating the continuation of the expansion based on consumer spending.” UMichigan PR link.

***Thursday, December 5

The PBR1000 November 2019 Top 5 By Market Capitalization)(Rank, Company, PBR1000 Ranking by Revenues, Stock Symbol, 11/29/19 Market Capitalization):

1. Apple(PBR3, $AAPL), $1,190 billion
2. Microsoft(PBR19, $MSFT), $1,162 billion
3. AlphabetPBR17, $GOOG), $905 billion
4. Amazon(PBR5, $AMZN), $902 billion
5. Facebook(PBR57, $FB, $576 billion

The PBR1000 Range: $1,190 billion to $0.01 billion
The PBR1000 Total Market Capitalization: $29,662 billion
Average: $29.7 billion
Median: $8.33 billion

Click here to find out more about The PBR1000!

General Motors(PBR14) and S Korea based LG Chem to mass-produce battery cells for future battery-electric vehicles, will invest up to a total of $2.3 billion through a new, equally owned joint venture company, will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown, OH area, will create 1,100+ new jobs. $GM PR link.

MetLife(PBR45) to acquire pet health insurance administrator PetFirst Healthcare, currently administers insurance coverage on more than 40,000 pets, to close in 1Q20, terms not disclosed. $MET PR link.

Energy Transfer(PBR59) completes $17/share cash and stock, around $5 billion, includes debt, acquisition of midstream oil and gas transportation provider SemGroup(PBR813). $ET PR link.

Dollar General(PBR111) in 3Q report says it plans for 1,000 new store openings, 1,500 mature store remodels, and 80 store relocations in next fiscal year. $DG PR link.

Huntsman(PBR327) to acquire $230 million in annual revenues Icynene-Lapolla, a leading N American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from FFL Partners, for $350 million cash, to close in 1H20. $HUN PR link.

Univar(PBR342) to sell its pest control management Environmental Sciences business to AEA Investors for $195 million, to close by early 2020. $UNVR PR link.

Caesars Entertainment(PBR357) completes $516.3 million sales of its Rio All-Suite Hotel & Casino to Imperial Companies, Caesars will continue to operate the property under a $45 million lease/year for at least 2 years. $CZR PR link.

Analog Devices(PBR463) files lawsuit against Xilinx(PBR722) for infringements off several key ADI patents. $ADI PR link.

Pyxus(PBR927) indirect wholly owned subsidiary Figr Brands has entered Ontario, Canada’s legal cannabis market, has plans to produce 43,000 kilograms of cannabis products annually. $PYX PR link.

TripAdvisor(PBR949) acquires SinglePlatform from Endurance International Group, helps restaurants to easily publish and manage their menus and other key information such as their business name, opening hours and contact information on main search and discovery sites like Google and Facebook, terms not disclosed. $TRIP PR link.

United Airlines(PBR74) CEO Oscar Munoz to transition to Executive Chairman, President J. Scott Kirby to become CEO, to be effective 05/20/20. $UAL PR link.

Tractor Supply(PBR376) hires Hal Lawton as President/CEO, effective 01/13/20, succeeds retiring CEO Greg Sandfort. $TSCO PR link.

The US Dept of Commerce/Census says the US Preliminary October 2019 Exports-Goods were at $136.1 billion, Services $71.1 billion, Total Exports $207.2 billion, Total Exports YTD(10 months) is at $2.087 trillion, Imports-Goods were at $204.1 billion, Services $50.2 billion, Total Imports $254.3 billion, Total Imports YTD is at $2.607 trillion, Total Deficit $47.1 billion, Total Deficit YTD is at $520.1 billion, Total Deficit YTD 2018 was at $513.9 billion. USDOC PR link.

The US Dept of Commerce says the US Preliminary October 2019 Manufacturers Sales-Durable Goods was at $248.4 billion, Non-Durable Goods $248.6 billion, Total Sales $497.0 billion, Sales YTD(10 months) are at $4.974 trillion, Sales YTD 2018 was at $4.992 trillion. USDOC PR link.

***Wednesday, December 4

The PBR1000 Spotlight for this week is Equinix, a leading global data centers services operator. Equinix Spotlight link.

Marriott Intl(PBR149) is projecting to open more than 30 luxury properties in 2020. $MAR PR link.

Viacom(PBR242) and CBS(PBR213) complete merger, now ViacomCBS Inc, begins trading on 12/05/19 as NASDAQ: VIACA and VIAC. $VIACA PR link.

Chesapeake Energy(PBR300) gets a secured first lien last out 4.5-year term loan facility of up to $1.5 billion from one or more commercial banks, to be used primarily for Brazos Valley Longhorn investments. $CHK PR link.

Prologis(PBR769) expands its development venture in China and increases its development capacity to more than $3.5 billion, announces formation of its new $1.7 billion open-ended Prologis China Core Logistics Fund. $PLD PR link.

Verisk Analytics(PBR832) to acquire privately held Iselin, NJ-based software developer for the life insurance and annuity industry FAST for $193.5 million. $VRSK PR link.

Expedia(PBR276) CEO/Board member Mark Okerstrom and CFO Alan Pickerill resign their positions effective immediately, Chairman Barry Diller and Vice Chairman Peter Kern to oversee executive leadership team while Board determines the long-term leadership, Chief Strategy Officer Eric Hart to serve as Acting CFO; Board adds up to 20 million shares to repurchase program, balance available is around 29 million shares. $EXPE PR link.

ADP(PBR221) says the US November 2019 Private Sector Change In Employment was +67,000, October 2019 was +121,000, September 2019 +124,000, November 2018 +136,000. $ADP PR link.

The Institute for Supply Management says the US November 2019 Non-Manufacturing Index(>50% economy growing) is at 53.9%, October 2019 was at 54.7%, September 2019 52.6%, November 2018 60.4%. “The respondents hope for a resolution on tariffs and continue to be hampered by constraints in labor resources.” ISM PR link.

The IHS Markit US November 2019 Composite PMI Output Index is at 52.0, October 2019 was at 50.9, September 51.0, November 2018 54.7. “Business confidence remained subdued in November, with manufacturers and service providers noting less upbeat output expectations for the year ahead.” IHS Markit PR link.

***Tuesday, December 3

AMD(PBR442) at +281% is at the top of November’s Snapshot 13, The PBR1000 Top 5 Stock Performers Since 12/29/17(23 months). Check out the Summary, click here!

Haliburton(PBR122 $HAL) closes its El Reno, OK, camp operations, 808 employees layed off. Houston Business Journal PR link.

Constellation Brands(PBR336) to sell its Ballast Point brand and a number of its associated production facilities and brewpubs, excluding Constellation’s Craft & Specialty operations in Daleville, VA, to Chicagoland-based Kings & Convicts Brewing Co, to close by 02/29/20, terms not disclosed. $STZ PR link.

Rush Enterprises(PBR494) authorizes up to $100 million share repurchase program, replaces current $150 million which had around $26.4 million remaining. $RUSHA PR link.

Cleveland-Cliffs(PBR843) to acquire producer of flat-rolled carbon, stainless and electrical steel products AK Steel(PBR424) for $3.36/share all stock deal valued at $1.1 billion, to close in 1H20. $CLF PR link.

Alphabet(PBR17) Co-founders CEO Larry Page and President Sergey Brin step down from their roles, remain on the Board, Google CEO Sundar Pichai adds role of CEO of Alphabet, effective immediately. $GOOG PR link.

Frontier Communications(PBR345) President/CEO/Board member Daniel McCarthy steps down after 29 years with the company, Board hires Bernie Han as new President/CEO, effective immediately. $FTR PR link.

AMC Entertainment(PBR498) re-appoints Lincoln Zhang as a director, elects him as Non-Executive Chairman, had previously served in the role from 08/12 to 03/18, succeeds Zeng Maojun (John Zeng) who remains on the Board. $AMC PR link.

TrueCar/ALG says the US November 2019 New Auto Sales were at 1,399,639, +4.9% from October 2019, +0.9% from November 2018; Average Incentive Outlay was at $3,759, Average Transaction Price $35,623. TrueCar PR link.

The PurdueU/CME Group November 2019 Ag Economy Barometer is at 153, October 2019 was at 136, September 2019 121, November 2018 134. “Agricultural producers’ sentiment became markedly more optimistic about current economic conditions in agriculture and that, along with a small increase in optimism about the future, led to the barometer rising substantially from October to November.” PurdueU PR link.

***Monday, December 2

The PBR25 Top Stock Buys By Analyst Recommendations As Of 11/29/19 Summary:

– Average Recommendation: 4.72/5.00
– Avg Recommendations Range: 4.61-4.96/5.00
– Avg Number of Recommendations: 29+
– Avg Number of Buy Recommendations: 24+
– Range of Buy Recommendations: 15 to 43
– NYSE: 17 companies, NASDAQ: 8
– Avg Return since 12/31/14(59 mos): +164.2%
– DJIA Return since 12/31/14: +57.4%
– NASDAQ Return since 12/31/14: +83.0%
– S&P500 Return since 12/31/14: +52.6%

To find out more about The PBR25 click here!

Amazon(PBR5) announces new Quantum computing service (Amazon Braket) along with AWS Center for Quantum Computing and Amazon Quantum Solutions Lab. $AMZN PR link.

Kroger(PBR21)’s Kroger Delivery Kitchen Powered by ClusterTruck is launching in Carmel, IN – where Kroger and ClusterTruck are jointly opening a fourth kitchen – and Indianapolis, IN, and Columbus, OH, as well as King Soopers Delivery Kitchen Powered by ClusterTruck for Denver customers, nearly every order is in the hands of the customer within 7 minutes of the meal’s preparation, average time between placing an order and a customer receiving their food is less than 30 minutes. $KR PR link.

Intel(PBR43) completes $1 billion sale to Apple(PBR3) of majority of its smartphone modem business, includes approximately 2,200 employees along with intellectual property, equipment and leases. $INTC PR link.

PepsiCo(PBR48) to acquire 750 employees global, diversified, better-for-you snack company BFY Brands, the maker of PopCorners snacks, will report into PepsiCo’s Frito-Lay North America division, terms not disclosed. $PEP PR link.

Freeport-McMoRan(PBR166) completes $150 million sale of its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore. $FCX PR link.

Baxter(PBR280) to acquire $100 million in annual revenues provider of adhesion prevention products, hemostats and sealants Seprafilm Adhesion Barrier and related assets from Sanofi for $350 million cash, to close by end of 1Q20. $BAX PR link.

Newmont Goldcorp(PBR402) authorizes up to $1 billion share repurchase program over next 12 months, replaces previous up to $100 million plan. $NEM PR link.

Newmont Goldcorp(PBR402) to sell its 19.9% equity stake and its convertible bond in Continental Gold to Zijin Mining Group for $260 million, to close in 1Q20. $NEM PR link.

McDermott Intl(PBR433) granted access to $350 million Tranche B of the $1.7 billion superpriority senior secured credit facility, has entered into a forbearance agreement with holders of 35%+ of McDermott’s 10.625% senior notes due 2024, continues to pursue strategic alternatives process for it Lummus Technology unit. $MDR PR link.

Pitney Bowes(PBR660) completes $700 million cash sale of its Software Solutions business to Syncsort. $PBI PR link.

SS&C Tech(PBR672) completes acquisition of more than 200 clients, 350 employees, and offices in 25 countries, risk analytics provider Algorithmics, terms not disclosed. $SSNC PR link.

The US Dept of Commerce/Census says the US Preliminary October 2019 Annual Rate All Construction-Residential is at $514.5 billion, Non-Residential $776.5 billion, Total $1.291 trillion, -0.8% from September 2019, +1.1% from October 2018. USDOC PR link.

The US Federal Reserve Bank of Chicago says the 7th District Preliminary October 2019 Midwest Economy Index is at -0.41, September was at -0.45, August -0.36, October 2018 +0.08. ChiFed PR link.

The Institute for Supply Management says the US November 2019 Manufacturing PMI Index(<50% is Contracting) is at 48.1%, October 2019 was at 48.3%, September 2019 47.8%, November 2018 59.3%. “Overall, sentiment this month is neutral regarding near-term growth…” ISM PR link.

IHS Markit says the US November 2019 Manufacturing PMI Index is at 52.6, October 2019 was at 51.3, September 2019 51.1, November 2018 55.3. “November data indicated a faster rate of improvement in operating conditions across the U.S. manufacturing sector… Business confidence remained historically muted, however, as global economic
uncertainty continued to weigh on expectations.” IHS Markit PR link.

Adobe Systems(PBR332)’ Analytics unit Adobe Holiday Shopping Trends-Predictions 2019 report expects $9.4 billion in sales on CyberMonday. $ADBE PR link.

***Friday, November 29

The PBRMarketTools US Stock Exchanges Recap for Week 48 and the month of November 2019 ending 11/29/19:

DJIA ends Week 48 and November at 28,051.41, +0.63% from last Friday, +3.72% MTD, +4.22% QTD, +20.25% YTD, -0.40% from record 28,164.00 set 11/27/19.

NASDAQ ends Week 48 and November at 8,665.47, +1.71% from last Friday, +4.50% MTD, +8.33% QTD, +30.60% YTD, -0.46% from record 8,665.47 set 11/27/19.

SPX ends Week 48 and November at 3,140.98, +0.99% from last Friday, +3.40% MTD, +5.52% QTD, +25.30% YTD, -0.40% from record 3,153.63 set 11/27/19.

The Week 48 of 2019 tally YTD is:
The Stock Market Bull: 25 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 8 weeks

The Month 11 of 2019 tally YTD is:
The Stock Market Bull: 9 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

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Filed Under: Recaps Tagged With: acquisitions, Business Intelligence, business news, DJIA, Economy, Investing, Leadership, Market Research, mergers, NASDAQ, Recap, S&P 500, Snapshots, Stock Market, The PBR1000, Wealth Management

The PBR1000 November 2019 Stocks & Commodities Snapshots

December 3, 2019 by admin

November 2019 The PBR1000:

Another Big Month for The Stock Market Bull

It was another big month for The PBR1000 and The Stock Market Bull as many new records were set.

By Larry C. Paxton

The November 2019 News Summary: At the beginning of the last week it seemed the US/China trade negotiations were going quite well, but at the end not so much, in part due to the US House and Senate passing a resolution backing Hong Kong as a democracy, which was then signed by President Trump. The US economy was best summed up by the Federal Reserve’s Beige Book which said the economy is expanding modestly. The month ended with a relatively quiet week for the Impeachment Inquiry because both US houses were on vacation. November became another victory for The Stock Market Bull who took November 3-0 in convincing style. However, The Stock Market Bear did make an appearance on the shortened Black Friday and last trading day of the month, which brought back some memories of last December’s meltdown. Hopefully last year’s history will not repeat itself this year.

The Month 11 of 2019 tally YTD is:
The Stock Market Bull: 9 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

The November 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 20

Number of Gain(+)/Loss(-) Days: DJIA 14+/6-; NASDAQ 13+/7-; SPX 14+/6-.

Record Days: DJIA 11, NASDAQ 11, SPX 11

Longest Gain Streak(Consecutive Days): DJIA 8 days(11/01-13/19), NASDAQ 4 days(11/22-27/19), and SPX 5 days(11/12-18/19)

Longest Loss Streak(Consecutive Days): DJIA 3 days(11/19-21/19), NASDAQ 2 days(11/13-14/19, 11/20-21/19), and SPX 3 days(11/19-21/19)

Big Swing Up Days(>1.00%): 2 days, 11/01/19(D +1.11%, N +1.13%), 11/25/19(N +1.32%)

Big Swing Down Days(<-1.00%): None

The PBR1000 November 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 November 2019 Snapshots. The price for stocks is for the close of trading on November 29, 2019, Month % Chg is compared to October 31, 2019, YTD % Chg is compared to December 31, 2018, and the 23 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the November 2019 edition with the complete 15 Snapshots and 28 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

Table 1(S11): The PBR1000 Top 5 Month Stock Price % Gainers

Table 1 Summary: The range was +102% to -89%. 700 out of 1,000 stocks were up 0% or more. The average was a gain of 2.63%, the median was a gain of 2.95%. The DJIA was +3.72%, NASDAQ +4.50%, SPX +3.40%.

Company	PBR Rank	Symbol	Price 11/29/19	Mo % Chg	YTD % Chg	23 Mos % Chg
Stage Stores	954	SSI	$ 4.80	+102	+549	+186
Pier 1 Imports	956	PIR	$ 8.47	+50	+37	-90
Chico’s FAS	875	CHS	$ 4.77	+39	-15	-46
Tronox	922	TROX	$ 11.58	+36	+49	-44
TD Ameritrade	470	AMTD	$ 51.83	+35	+6	+1

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +549% to -97%. 777 out of 993 stocks were up 0% or more. The average was a gain of 24.65%, the median was a gain of 19.83%. The DJIA was +20.25%, NASDAQ +30.60%, SPX +25.30%.

Company	PBR Rank	Symbol	Price 11/29/19	Mo % Chg	YTD % Chg	23 Mos % Chg
Stage Stores	954	SSI	$ 4.80	+102	+549	+186
Avon Products	490	AVP	$ 4.59	+7	+202	+113
Diebold Nixdorf	554	DBD	$ 7.27	+4	+192	-56
Snap	988	SNAP	$ 15.25	+1	+177	+4
FannieMae	22	FNMA	$ 2.77	-10	+161	+5

Table 3(S13): The PBR1000 Top 5 23 Months Stock Price % Gainers

Table 3 Summary: The range was +281% to -99%. 532 out of 991 stocks were up 0% or more. The average was a gain of 11.52%. The median was a gain of 2.34%. The DJIA was +13.48%, NASDAQ +25.52%, SPX +17.48%.

Company	PBR Rank	Symbol	Price 11/29/19	Mo % Chg	YTD % Chg	23 Mos % Chg
AMD	442	AMD	$ 39.15	+15	+112	+281
Stage Stores	954	SSI	$ 4.80	+102	+549	+186
Chipotle	536	CMG	$ 813.92	+5	+89	+182
Crocs	996	CROX	$ 34.90	-0	+34	+176
Keysight Tech	615	KEYS	$ 107.03	+6	+72	+157

Table 4(S15): The PBR1000 Top 5 Market Capitalization

Table 4 Summary: The range was $1,190 billion to $0.01 billion. The average is $29.631 billion, median is $8.39 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 11/29/19	Mo % Chg	YTD % Chg	23 Mos % Chg
Apple	3	AAPL	$ 1,190 B	+8	+61	+36
Microsoft	19	MSFT	$ 1,162 B	+5	+51	+76
Alphabet	17	GOOG	$ 905 B	+4	+26	+24
Amazon	5	AMZN	$ 902 B	+2	+25	+62
Facebook	57	FB	$ 576 B	+7	+50	+12
The PBR1000			$ 29,631 B	+3	+25	+14

Table 5: The PBR1000 Index & Primary US Stock Exchanges/Commodities

Company	Price 11/29/19	Mo % Chg	YTD % Chg	23 Mos % Chg
The PBR1000	96,649.26	+2.6	+24.7	+11.5
DJIA	28,051.41	+3.7	+20.3	+13.5
NASDAQ	8,665.47	+4.5	+30.6	+25.5
S&P500	3,140.98	+3.4	+25.3	+17.5
GOLD	1,472.7	-2.8	+14.6	+12.8
SILVER	17.11	-5.3	+9.9	+0.7
OIL	55.17	+1.8	+20.4	-8.2

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Disclaimers: The PBR1000 is compiled from a variety of publicly available resources. As such, PBRMarketTools.com is not responsible for the data itself. Any liability for the representations or decisions based on the data is solely the responsibility of the authorized user, not PBRMarketTools.com, its employees or affiliates. PBRMarketTools.com is a provider of news, data, and analysis, and is not a financial advisor firm.

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Filed Under: Snapshots Tagged With: Business Intelligence, Commodities, DJIA, Economy, Investing, Money, NASDAQ, Personal Finance, Rankings, S&P 500, Snapshots, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 November 2019 Breaking News Recap

November 20, 2019 by admin

The PBR1000 and the US Economy: A Cause and Effect Relationship

The PBR1000 companies generate over half the US Gross Domestic Product, pay attention to them!

By Larry C. Paxton

The November 2019 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, November 29

The PBRMarketTools US Stock Exchanges Recap for Week 48 and the month of November 2019 ending 11/29/19:

DJIA ends Week 48 and November at 28,051.41, +0.63% from last Friday, +3.72% MTD, +4.22% QTD, +20.25% YTD, -0.40% from record 28,164.00 set 11/27/19.

NASDAQ ends Week 48 and November at 8,665.47, +1.71% from last Friday, +4.50% MTD, +8.33% QTD, +30.60% YTD, -0.46% from record 8,665.47 set 11/27/19.

SPX ends Week 48 and November at 3,140.98, +0.99% from last Friday, +3.40% MTD, +5.52% QTD, +25.30% YTD, -0.40% from record 3,153.63 set 11/27/19.

The Week 48 of 2019 News Summary: At the beginning of the week it seemed the US/China trade negotiations were going quite well, but at the end of the week not so much, in part due to the US House and Senate passing a resolution backing Hong Kong as a democracy, which was then signed by President Trump. The US economy was best summed up by the Federal Reserve’s Beige Book which said the economy is expanding modestly. It was a relatively quiet week for the Impeachment Inquiry because both US houses were on vacation. With Thanksgiving on Thursday and not a lot of controversial news it became another victory for The Stock Market Bull who took both Week 48 and November 3-0 in convincing style. However, The Stock Market Bear did make an appearance on the shortened Black Friday trading day, which brought back some memories of last December’s meltdown. Hopefully last year’s history will not repeat itself this year.

The Week 48 of 2019 tally YTD is:
The Stock Market Bull: 25 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 8 weeks

The Month 11 of 2019 tally YTD is:
The Stock Market Bull: 9 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

Intel(PBR43) provides a letter on why the US District Court, Northern District, judgment against Qualcomm(PBR133) for “licensing practices that have strangled competition in the CDMA and premium LTE modem chip markets for years, and harmed rivals, OEMs and end consumers…” should stand. $INTC PR link.

Tech Data(PBR84) $130 per share with an enterprise value of around $5.4 billion acquisition by Apollo Global Mgmt(PBR995) amended to $145 per share with an enterprise value of around $6 billion, to close in 1H20. $TECD PR link.

***Thursday, November 28

***US Thanksgiving Day Holiday.
***US Stock Exchanges Closed.

***Wednesday, November 27

Best Buy(PBR71 $BBY)‘s health offerings now serving 1 million seniors, with a goal of 5 million in fiscal 2025. MarketWatch PR link.

The US Dept of Commerce/BEA says the US 3Q19 2nd Estimate Real Annual Gross Domestic Product is at 2.1%, $21.542 trillion, +1.0% from 2Q19, +3.8% from 3Q18. USDOC PR link.

The US Federal Reserve System releases the Beige Book for data collected through 11/18/19, says, “Economic activity expanded modestly from October through mid-November, similar to the pace of growth seen over the prior reporting period….” USFed PR link.

The US Dept of Labor says the US 4 Week Moving Average Initial Unemployment Insurance Claims for the Week Ending 11/23/19 is at 219,750, +2.3% from 10/26/19, -2.1% from 11/24/18; the US 4 Week Moving Average Total Insured Unemployment for the Week Ending 11/16/19 is at 1,680,500, -0.3% from 10/19/19, +0.4% from 11/17/18. USDOL PR link.

The US Dept of Commerce/BEA says the US Preliminary October 2019 Total Personal Income Annual Rate is at $18.794 trillion, +0.0% from September 2019, +5.8% from October 2018; Total Personal Income Taxes Annual Rate is at $2.202 trillion, an 11.7% Effective Tax Rate; Personal Savings Rate is at 7.8%. USDOC PR link.

The US Energy Information Administration says that US Crude Oil Stocks on 11/22/19 were at 452.0 million barrels, +3.0% from 10/25/19, +0.3% from 11/23/18. EIA PR link.

FreddieMac(PBR40) says the US Average 30 Year Fixed Rate Mortgage on 11/27/19 was at 3.68% with 0.5 points/fees, 10/31/19 was at 3.78%, 09/26/19 3.64%, 11/29/18 4.81%. $FMCC PR link.

MNI says the Chicago November 2019 Business Barometer is at 46.3, October 2019 was at 43.2, September 2019 47.1, November 2018 66.4. MNI/ISM PR link.

***Tuesday, November 26

The PBR1000 Spotlight on MasterCard!

Mission Statement: “Every day, everywhere, we use our technology and expertise to make payments safe, simple and smart.”

Ticker: NYSE: MA
Stock Price(10/31/19): $276.81
Stock Price(11/25/19):$287.61
Current The PBR1000 Rankings:
209 By Revenues: $15.0 billion
15 By Market Capitalization: $276.4 billion(10/31/19)
80 By Total Yield: 25.3%
249 By Assets: $24.9 billion
463 By Employees: 14,800
16 By Analyst Estimates: Buy, 4.69/5.00, 35 Estimates
Average Target Stock Price(11/25/19): $312.88

To get the complete profile for MasterCard and for all 1,000 of The PBR1000 click here!

Jacobs Engineering(PBR206) opens its new European flagship office in London at the Cottons Centre, to hire approximately 2,400 staff in the UK over the next two years. $JEC PR link.

Xerox(PBR310) sends letter to HP Inc(PBR55), starts with “Your refusal to engage in mutual due diligence with Xerox defies logic.” and concludes with “We plan to engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity.” $XRX PR link.

The US Dept of Commerce/HUD says the US Preliminary October 2019 New Family Home Sales Annual Rate is at 733,000, -0.7% from September 2019, +31.6% from October 2018, Median Home Price is at $316,700, +2.1% from September 2019, -3.5% from October 2018, Homes Available are at 322,000, +0.3% from September 2019, -3.3% from October 2018. USDOC PR link.

The S&P CoreLogic Case-Shiller US September 2019 National Home Price Index(01/2000=100) is at 212.20, August 2019 was at 211.95, July 2019 211.59, September 2018 205.59. Case-Shiller PR link.

The Conference Board says the US Preliminary November 2019 Consumer Confidence Index(1985=100) is at 125.5, October 2019 was at 126.1, September 2019 126.3, November 2018 136.4. “Confidence Levels Still Remain High, and Should Support Solid Holiday Spending.” TCB PR link.

The US Federal Reserve Bank of Richmond says the US 5th District November 2019 Manufacturing Composite Index(Annualized) is at -1%, October 2019 was at +8%, September 2019 -9%, November 2018 +10%. “Survey respondents were optimistic that conditions would improve in the coming months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the US 5th District November 2019 Service Sector Revenue Index(Annualized) is at +15%, October 2019 was at +24%, September 2019 +6%, November 2018 +7%. “… firms were … optimistic that conditions would continue to improve in the near future.” RichmondFed PR link.

***Monday, November 25

HP Inc(PBR55) again rejects unsolicited proposal from Xerox(PBR310), says it significantly undervalues HP, is highly conditional and uncertain, there continues to be uncertainty regarding Xerox’s ability to raise the cash portion of the proposed consideration. $HPQ PR link.

AIG(PBR65) is selling a majority interest in reinsurance and run-off management solutions to the global insurance industry provider Fortitude Re to The Carlyle Group(PBR827) and T&D Holdings for around $1.8 billion, to close mid 2020. $AIG PR link.

Tesla(PBR141) CEO Elon Musk tweets that 200,000 Cybertrucks have been pre-ordered. $TSLA PR link.

McDonald’s(PBR147) settles California labor dispute started in 2013, agrees to pay $26 million, denies any wrongdoing as part of the settlement. $MCD PR link.

Jacobs Engineering(PBR206) to change ticker from JEC to NYSE: J on 12/10/19, will be changing name to Jacobs Solutions Inc to better reflect its new strategy and identity. $JEC PR link.

Viacom(PBR242) and CBS(PBR213) to complete merger after market close on 12/04/19, will be renamed ViacomCBS Inc, to begin trading on 12/05/19 as NASDAQ: VIACA and VIAC. $VIA PR link.

Uber(PBR273 $UBER) has lost its licence to operate in Britain’s capital city after the regulator Transport for London discovered more than 14,000 journeys had been taken with uninsured drivers, plans to appeal, will be able to operate during legal proceedings. MarketWatch PR link.

eBay(PBR286) to sell its StubHub unit to worldwide ticket marketplace for live sport, music and entertainment events viagogo for $4.05 billion cash, to close by end of 1Q20. $EBAY PR link.

Charles Schwab(PBR304) to acquire TD Ameritrade(PBR500) in an all-stock transaction valued at approximately $26 billion, combined firm is expected to serve 24 million client accounts with more than $5 trillion in client assets, to close in 2H20, TD Ameritrade suspends CEO search and names EVP/CFO Steve Boyle as interim President/CEO. $SCHW PR link.

Newmont Goldcorp(PBR402) to sell the Red Lake complex in Ontario, Canada, to Evolution Mining for $375 million in cash and up to an additional $100 million tied to new resource discoveries, to close in 1Q20. $NEM PR link.

Tiffany(PBR572) agrees to be acquired by LVMH Moet Hennessy – Louis Vuitton for revised bid of $135/share, $16.2 billion cash, to close in mid 2020. $TIF PR link.

Palo Alto Networks(PBR751) to acquire machine identity-based microsegmentation company Aporeto for around $150 million cash. $PANW PR link.

Wabash Natl(PBR856) Chairman Dr. Martin C. Jischke to retire at 2020 annual shareholders meeting, director Larry J. Magee expected to be successor. $WNC PR link.

The US Federal Reserve Bank of Chicago says the US Preliminary October 2019 National Activity Index is at -0.71, September 2019 was at -0.45, August 2019 +0.23, October 2018 +0.02. ChiFed PR link.

***Friday, November 22

The PBRMarketTools US Stock Exchanges Recap for Week 47 of 2019 ending 11/22/19:

DJIA ends Week 47 at a 27,875.62, -0.46% from last Friday, +3.07% MTD, +3.56% QTD, +19.50% YTD, -0.57% from record 28,036.22 set 11/18/19.

NASDAQ ends Week 47 at 8,519.88, -0.25% from last Friday, +2.74% MTD, +6.51% QTD, +28.40% YTD, -0.59% from record 8,570.66 set 11/19/19.

SPX ends Week 47 at 3,110.29, -0.33% from last Friday, +2.39% MTD, +4.49% QTD, +24.07% YTD, -0.38% from record 3,110.29 set 11/18/19.

The Week 47 of 2019 News Summary: There were mixed signals about the progress of the US/China trade negotiations during the week, even about a partial deal. Hong Kong protests and reactions by its and the Chinese government continue to escalate. US economic data was generally positive but cautiously guarded, as the global economy continues to show a steadily but slightly declining path, as expressed by the Federal Open Market Committee minutes from its last meeting. US politics was the most prominent news of the week as the US House hammered away at witnesses during the public Impeachment Inquiry over a possible attempted quid pro quo, or bribery, or extortion by President Trump for funding of the Ukraine military defense in exchange for an investigation into former Vice President and current US Presidential candidate Joe Biden and his son Hunter. But it appears that the primary impact on the US stock exchanges were the US/China trade news and US/global economics. Compared to past weeks it was not a volatile week with both The Stock Market Bull and The Stock Market Bear looking at each other rather than fighting. But in the end The Stock Market Bear narrowly edged out a 3-0 victory for Week 47.

The Week 47 of 2019 tally YTD is:
The Stock Market Bull: 24 weeks
The Stock Market Bear: 15 weeks
Mixed Results: 8 weeks

Amazon(PBR5 $AMZN) files suit with US Court of Federal Claims, is challenging Pentagon’s $10 billion JEDI cloud contract to Microsoft(PBR19). MarketWatch PR link.

Boeing(PBR28) debuts its 737 MAX 10, largest variant of the MAX family, can seat up to 230 passengers and offers the lowest seat-mile cost of any single-aisle airplane ever produced, has 550+ orders from 20+ customers. $BA PR link.

Tesla(PBR141) introduces the Cybertruck, designed to have the utility of a truck and the performance of a sports car, starts at $39,900, to be available by late 2021, $100 deposit. $TSLA PR link.

YUM!(PBR483) authorizes new up to $2 billion share repurchase program, to expire on 06/30/21. $YUM PR link.

AECOM(PBR155) Chairman/CEO Michael S. Burke to retire upon appointment of successor by 2020 annual meeting, to appoint 3 new members to the Board per agreement with activist investor Starboard Value. $ACM PR link.

Kimberly-Clark(PBR167) elects CEO Michael D. Hsu to additional role of Chairman, effective 01/01/20, Chairman Thomas J Falk retiring after 16 years in the role. $KMB PR link.

The U of Michigan US Final November 2019 Consumer Sentiment Index is at 96.8, October 2019 was at 95.5, September 2019 93.2, November 2018 97.5.”… the current period is distinctive for the much sharper partisan divisions in the economic expectations among consumers as well as the wide gap in optimism between consumers and business firms. One side anticipates a recession, while the other side expects an uninterrupted expansion in the year ahead.” UMichigan PR link.

***Thursday, November 21

Chubb Corp(PBR99) authorizes an up to $1.5 billion share repurchase program, expires 12/31/20. $CB PR link.

Medtronic(PBR101) gets US FDA approval of the IN.PACT™ AV drug-coated balloon (DCB), a paclitaxel-coated balloon indicated for the treatment of failing arteriovenous (AV) access in patients with end-stage renal disease (ESRD) undergoing dialysis. $MDT PR link.

Amgen(PBR124) completes $13.4 billion acquisition of Celgene(PBR203)‘s severe plaque psoriasis treatment Otezla. $AMGN PR link.

Xerox(PBR310) sends letter to HP Inc(PBR55) expressing surprise that its $22.00/share offer was considered undervalued, plans to proceed with an attempt to acquire HP. $XRX PR link.

Domino’s Pizza(PBR670) opens its first first store in the Czech Republic in the city of Brno. $DPZ PR link.

Hillenbrand(PBR930) completes $2 billion cash and stock acquisition of Milacron Holdings(NYSE: MCRN), which manufactures, distributes, and services engineered and customized systems in the approximately $30 billion plastics technology and processing industry, as well as fluid technologies and processing systems. $HI PR link.

Franklin Resources(PBR453) Chairman/CEO Gregory Johnson to step down from CEO role at annual meeting on 02/11/20, will become Executive Chairman, President/COO Jennifer M. Johnson to become President/CEO. $BEN PR link.

The Federal Reserve Bank of Philadelphia says the US 3rd District November 2019 Manufacturing General Activity Indicator was at +10.4, October 2019 +5.6, September 2019 +12.0, November 2018 +11.9. PhillyFed PR link.

The Conference Board says the US Preliminary October 2019 Leading Economic Index(2016=100) is at 111.7, September 2019 was at 111.8, August 2019 112.0, October 2018 111.3. TCB PR link.

The Natl Assn of Realtors says the US October 2019 Existing Home Sales Annual Rate is at 5,460,000, +1.9% from September 2019, +4.6% from October 2018, Existing Inventory is at 1,770,000, -2.7% from September 2019, -4.3% from October 2018, Median Price was at $270,900, -0.4% from September 2019, +6.2% from October 2018. NAR PR link.

***Wednesday, November 20

Apple(PBR3) breaks ground on its new 133-acre campus in Austin, TX, which will initially house 5,000 employees; at a production facility nearby it is preparing to ship the all-new Mac Pro to customers starting in 12/19. $AAPL PR link.

Eli Lilly(PBR117) to invest $400 million in its manufacturing facilities at its Lilly Technology Center campus in Indianapolis, IN, will create around 100 new highly skilled jobs. $LLY PR link.

Bristol-Myers Squibb(PBR133) completes $74 billion acquisition of Celgene(PBR203), which is now a wholly owned subsidiary. $BMY PR link.

Bristol-Myers Squibb(PBR133) says the Phase 3 study evaluating Opdivo (nivolumab) plus Yervoy (ipilimumab) versus Opdivo alone for the adjuvant treatment of patients who have had a complete surgical removal of stage IIIb/c/d or stage IV (no evidence of disease) melanoma did not achieve co-primary endpoint, study will continue for other endpoints. $BMY PR link.

PayPal(PBR202) to acquire Los Angeles, CA based 17 million monthly active users Honey Science Corporation, a rapidly-growing technology platform for shopping and rewards, for around $4 billion. $PYPL PR link.

Avery Dennison(PBR411) to acquire Amsterdam, Netherlands based around 900 employees Smartrac’s Transponder (RFID Inlay) Division, for the purchase price of around $252 million. $AVY PR link.

Carlisle Cos(PBR567) completes acquisition of 1,000+ employees San Diego, CA based Providien LLC, a provider of manufacturing solutions for global medical device OEMs, including thermoforming, medical device contract manufacturing, precision machining & metals, and medical injection molding, terms not disclosed. $CSL PR link.

Hologic(PBR699) to sell its 825 employees Cynosure medical aesthetics business to Clayton, Dubilier & Rice for $205 million cash, to close by 12/31/19. $HOLX PR link.

CrossAmerica Partners(PBR825) says Couche-Tard(TSX:ATD.A ATD.B) has sold all of its ownership interest in CrossAmerica to investment vehicles controlled by Joe Topper, the founder of CrossAmerica. $CAPL PR link.

Universal Corp(PBR863) to acquire Yakima Valley, WA based 200 employees FruitSmart, an independent specialty fruit and vegetable ingredient processor serving global markets, terms not disclosed, to close by 12/31/19. $UVV PR link.

Deluxe Corp(PBR890) to assume all retail and wholesale remittance processing for Synchrony(PBR169). $DLX PR link.

The US Federal Open Market Committee releases minutes from its 10/30/19 meeting. “… most participants judged that the stance of policy, after a 25 basis point reduction at this meeting, would be well calibrated to support the outlook of moderate growth, a strong labor market, and inflation near the Committee’s symmetric 2 percent objective and likely would remain so as long as incoming information about the economy did not result in a material reassessment of the economic outlook.” FOMC PR link.

***Tuesday, November 19

Kroger(PBR21) announces first-of-its-kind US partnership with Europe based hydroponic developer Infarm, will initially grow produce directly in some QFC brand stores in Bellevue and Kirkland, WA. $KR PR link.

Macy’s(PBR115 $M) sending letters to customers about a recent data breach, actions taken. MarketWatch PR link.

BB&T(PBR241) and SunTrust Banks(PBR296) get regulatory approvals from the US Federal Reserve System and the US Federal Deposit Insurance Corporation for merger of equals and become Truist Financial Corporation, to be completed by 12/06/19. $BBT PR link.

Gannett(PBR745) $1.35 billion cash/stock acquisition by New Media Investment Group(NYSE: NEWM) is completed, new company is called Gannett Co, Inc, ticker NYSE: GCI, Michael Reed will remain Chairman/CEO of the combined company and Paul Bascobert will serve as CEO of the operating subsidiary, Gannett Media Corp. $GCI PR link.

CIT Group(PBR852) gets US Office of the Comptroller of the Currency regulatory approval to acquire $6.8 billion in deposits, $4.5 billion of which are HOA deposits from more than 31,000 community associations nationwide, Mutual of Omaha Bank, for $1 billion cash and stock, to close in 1Q20. $CIT PR link.

The US Dept of Commerce/HUD says the US Preliminary October 2019 Private Housing Building Permits Issued Annual Rate is at 1.461 million, +5.0% from September 2019, +14.1% from October 2018. USDOC PR link.

***Monday, November 18

Amazon(PBR5) plans second fulfillment center in Mississippi, to be in DeSoto County in N Mississippi, over 1 million sf, will create 500 new full-time jobs starting at $15/hour. $AMZN PR link.

AT&T(PBR9) sells its 42% minority stake in Game Show Network to 58% stake holder Sony Pictures Entertainment for $500 million. $T PR link.

Ford(PBR12) announces the all-electric Mustang Mach-E, will be available in several variations, launching in late 2020, $500 refundable reservation deposit available now. $F PR link.

HP Inc(PBR55) Board unanimously rejects unsolicited proposal from Xerox(PBR310), says it significantly undervalues HP and is not in the best interests of HP shareholders, but open to more discussions about a possible combination. $HPQ PR link.

Thermo-Fisher Scientific(PBR119) to become a member of the S&P100 on 11/21/19, to replace being acquired Celgene(PBR205). SPIndices PR link.

HollyFrontier(PBR171) authorizes new $1 billion share repurchase program, replaces existing programs which had $281 million remaining. $HFC PR link.

Estee Lauder(PBR211) to acquire the shares that it does not already beneficially own in Have & Be Co. Ltd., the Seoul-based, global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing, has an enterprise value of around $1.7 billion. $EL PR link.

Coty(PBR340) to pay $600 million for 51% ownership in long-term partnership with Kylie Jenner to develop her Kylie Cosmetics, Kylie Skin, and other products, to close in 3Q20. $COTY PR link.

Blackstone(PBR423) completes $4.25 billion cash acquisition of real estate of Bellagio, is leasing it back to a subsidiary of MGM Resorts(PBR257) to operate the property for initial annual rent of $245 million, MGM Resorts will receive a 5% equity interest. $BX PR link.

Jefferies Financial(PBR634) to sell its remaining 31% interest in National Beef to Marfrig Global Foods for $970 million cash, to close by 11/30/19. $JEF PR link.

ServiceNow(PBR800 $NOW) to become a member of the S&P500 on 11/21/19, to replace being acquired Celgene(PBR205). SPIndices PR link.

Cooper Cos(PBR812) gets US FDA approval for its MiSight® 1 day contact lens1, indicated to slow the progression of myopia (nearsightedness or short-sightedness) when initially prescribed for children 8-12 years old. $COO PR link.

Lyft(PBR873 $LYFT) gets strategic partnership with Gett which is closing down its Juno ridesharing operations in New York City, turning accounts over to Lyft. TechCrunch PR link.

T-Mobile US(PBR70) President/COO Mike Sievert to become President/CEO on 05/01/20, will succeed John Legere whose contract expires 04/30/20, Legere will remain on the Board. $TMUS PR link.

Viacom(PBR242)‘s President/CEO Bob Bakish to become President/CEO of ViacomCBS, other ViacomCBS executives announced, merger to be completed in early 12/19. $VIA PR link.

ServiceNow(PBR800) announces Bill McDermott is now President/CEO, succeeds John Donahue who is leaving for another CEO position but remains on the Board. $NOW PR link.

The Natl Assn of Home Builders/Wells Fargo US Preliminary November 2019 Housing Market Index(>50=more builders view conditions as good than poor) is at 70, October 2019 was at 71, September 2019 68, November 2018 60. “Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job growth, …” NAHB PR link.

***Friday, November 15

The PBRMarketTools US Stock Exchanges Recap for Week 46 of 2019 ending 11/15/19:

DJIA ends Week 46 at a record 28,004.89, +1.17% from last Friday, +3.54% MTD, +4.04% QTD, +20.05% YTD, +0.00% from record 28,004.89 set 11/15/19.

NASDAQ ends Week 46 at a record 8,540.83, +0.77% from last Friday, +3.00% MTD, +6.77% QTD, +28.72% YTD, +0.00% from record 8,540.83 set 11/15/19.

SPX ends Week 46 at a record 3,120.46, +0.89% from last Friday, +2.73% MTD, +4.83% QTD, +24.48% YTD, +0.00% from record 3,120.46 set 11/15/19.

The Week 46 of 2019 News Summary: Early in the week news about the US/China trade negotiations was mixed, but by the end of the week it appeared that at least a Phase 1 deal is close, and China lifted its ban on US poultry. Protests seem to be escalating in Hong Kong and it is difficult to foresee how this will play out. The US economic results were mostly slightly down, but even then the economy appears to be in good shape, growing at a modest/moderate rate, with Fed Chairman Powell and other economists saying rate cuts are probably on hold for now. The big news of the week came from the start of the public testimonies for the Impeachment Inquiry by committees of the US House of Representatives with responses by both sides saying either President Trump clearly had a quid pro quo when asking the Ukraine leader to do an investigation into Joe and Hunter Biden business dealings, or there clearly was no such intent. The US stock exchanges seemed to care only about the US/China trade negotiations and took it as very positive. The Stock Market Bull, for the fourth week in a row, solidly trounced The Stock Market Bear 3-0 with all 3 major US exchanges closing Week 46 at record highs again, and all with at least a 20% gain year-to-date.

The Week 46 of 2019 tally YTD is:
The Stock Market Bull: 24 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 8 weeks

Amazon(PBR5 $AMZN) to protest award of $10 billion Pentagon JEDI cloud-computing contract to Microsoft(PBR19). MarketWatch PR link.

Ford(PBR12) gets new collective bargaining agreement with the United Auto Workers(UAW), includes $6 billion in investment in Ford’s U.S. manufacturing facilities and creates or secures 8,500 US hourly jobs during the four-year contract. $F PR link.

Walt Disney(PBR54) announces over 10 million signups for its Disney+ streaming service since its launch on 11/12/19. $DIS PR link.

Bristol-Myers Squibb(PBR133) gets US Federal Trade Commission approval for its $74 billion acquisition of Celgene(PBR203) which has sold its global rights to OTEZLA® (apremilast) to Amgen(PBR123) for $13.4 billion cash per agreement with the FTC, to close on 11/20/19. $BMY PR link.

Masco(PBR359) to sell its Masco Cabinetry unit to ACProducts, a manufacturer of cabinetry products owned by American Industrial Partners, for $1.0 billion, to close in 1Q20. $MAS PR link.

Noble Energy(PBR527) to increase its ownership in Noble Midstream Partners LP (NYSE: NBLX), sells essentially all of its remaining US onshore midstream interests and assets to NBLX and eliminates its Incentive Distribution Rights for $1.6 billion. $NBL PR link.

HollyFrontier(PBR171) President/CEO/Director George Damiris to retire from all positions on 12/31/19, director and former Chairman and CEO Michael Jennings to become President/CEO on 01/01/20. $HFC PR link.

The US Dept of Labor says the US Preliminary October 2019 Import Prices were -0.5%, Export Prices -0.1%, October 2019 Import Prices Last 12 Months were -3.0%, Export Prices -2.2%. USDOL PR link.

The US Federal Reserve says the US Preliminary October 2019 Total Manufacturing Total Industry % of Capacity was at 76.7%, September 2019 77.5%, August 2019 77.9%, October 2018 79.3%, Capacity Growth Over Previous Year is +2.2%. USFed PR link.

The US Dept of Commerce/Census says the US Preliminary September 2019 Sales-Manufacturers was at $501.1 billion, Retail $459.6 billion, Wholesalers $498.6, Total Sales $1.459 trillion, -0.2% from August 2019, +0.5% from September 2018. USDOC PR link.

The US Dept of Commerce/Census says the US Advance October 2019 Sales-Retail is at $461.2 billion, Food Services & Drinking Places $65.3 billion, Total $526.5 billion, +0.3% from September 2019, +3.1% from October 2018. USDOC PR link.

The Federal Reserve Bank of New York says the Empire State November 2019 Manufacturing General Business Conditions Index is at +2.9, October 2019 was at +4.0, September 2019 +2.0, November 2018 +21.4. “Optimism about the six-month outlook remained subdued, while capital spending plans picked up markedly.” NYFed PR link.

***Thursday, November 14:

The October 2019 Snapshot 13 Summary: The PBR1000 Top 5 Performers Since 12/29/17(22 months)(Rank, Company, PBR1000 Ranking by Revenues, Stock Symbol, 10/31/19 Stock Price, % Increase from 12/29/17):

1. AMD, PBR442, $AMD, $33.93, +230%
2. BlueLinx, PBR755, $BXC, $31.26, +220%
3. Crocs, PBR996, $CROX, $34.99, +177%
4.Chipotle, PBR535, $CMG, $778.16, +169%
5. FTI Consulting, PBR885, $FCN, $108.87, +153%

Range: +230% to -98%
Number of Companies at 0% or Better: 497/991
Average: +8.58%
Median: +0.66%%
DJIA: +9.41%
NASDAQ: +20.12%
SPX: +13.61%

To find out more about The PBR1000 click here!

Amazon(PBR5) to open new 30,000 sf corporate offices facility in Las Vegas, NV, in support of its Human Resources department, will add 125 jobs. $AMZN PR link.

Microsoft(PBR19) Azure selected by Salesforce(PBR238) as its public cloud provider for Salesforce Marketing Cloud. $MSFT PR link.

Kroger(PBR21) and partner Ocado to open its 6th high tech Customer Fulfillment Center, to be located in Pleasant Prairie, WI, 350,000 sf facility, will add around 400 jobs, to open 24 months after breaking ground. $KR PR link.

Dollar Tree(PBR130 $DLTR) is sent warning letter by US FDA for receiving over-the-counter drugs produced by foreign manufacturers found to have serious violations of federal law. USFDA PR link.

Tesla(PBR141 $TSLA)‘s Model 3 and Model S regain a Consumer Reports recommendation because of improved reliability from results of annual survey. Consumer Reports PR link.

Marriott Intl(PBR149) has signed contracts with hotel developers to open two all-inclusive, oceanfront resorts in the Caribbean – an 800-room Marriott Hotel in Jamaica to open in 2022, and a 283-room Autograph Collection on Curaçao to open in 2024. $MAR PR link.

CNO Financial(PBR581) approves an additional $500 million for its share repurchase program, balance now available is around $607 million. $CNO PR link.

The Federal Reserve Bank of New York releases its November 2019 US Economy in a Snapshot. NYFed PR link.

The US Dept of Labor says the US Preliminary October 2019 Producer Price Index-Total Final Demand was +0.4%, September 2019 was at -0.3%, August 2019 +0.1%, October 2018 +0.8%, October 2019 Total Final Demand Year-Over-Year is at +1.1%, September 2019 was at +1.4%, August 2019 +1.8%, October 2018 +3.1%. USDOL PR link.

***Wednesday, November 13

The PBR1000 Spotlight on Autodesk!

Products/Services: Software from design professionals, engineers and architects, to digital artists, students and hobbyists.

Ticker: NASDAQ: ADSK, $147.36 on 10/31/19
Current The PBR1000 Rankings:
807 By Revenues: $2.6 billion
194 By Market Capitalization: $32.7 billion(10/31/19)
74 By Total Yield: 27.3%
670 By Assets: $4.7 billion
620 By Employees: 9,000
258 By Analyst Estimates: Overweight, 4.21/5.00, 24 Estimates, Average Target Stock Price $172.27(11/12/19)

To get the complete profile for Autodesk and for all 1,000 of The PBR1000 click here!

Apple(PBR3) unveils an all-new 16-inch MacBook Pro, features a 16-inch Retina Display, the latest 8-core processors, up to 64GB of memory, next-generation graphics with up to 8GB of VRAM and a new advanced thermal design, starts at $2,399. $AAPL PR link.

Nike(PBR80 $NKE) will stop selling its sneakers and apparel directly on Amazon(PBR5)’s website, ending a pilot program that began in 2017. Bloomberg PR link.

Tech Data(PBR84) to be acquired by Apollo Global Mgmt(PBR995) for $130 per share with an enterprise value of around $5.4 billion, to close in 1H20. $TECD PR link.

AbbVie(PBR93) prices $30 billion of senior unsecured notes, proceeds to help fund $63 billion acquisition of Allergan(PBR197). $ABBV PR link.

Weyerhaeuser(PBR392) completes $300 million cash sale of its 555,000 acres of Michigan timberlands to an affiliate of The Lyme Timber Company LP. $WY PR link.

Avon Products(PBR489) shareholders approve around $3.7 billion acquisition by Brazil based Natura &Co (B3: NATU3), to close in early 2020. $AVP PR link.

Abbott(PBR100) Executive Chairman/CEO Miles White to step down as CEO on 03/03/20, has been CEO for 21 years, will remain Executive Chairman, President/COO Robert Ford to become CEO. $ABT PR link.

The US Dept of Treasury says the US October 2019 Federal Government Receipts are at $245.5 billion, Outlays $380.0 billion, Deficit $134.5 billion, October 2018 Deficit was at $100.5 billion. USTreasury PR link.

The US Dept of Labor says the US Preliminary October 2019 Current Employee Average Earnings Per Week is at $969.39, September 2019 was at $967.33, August 2019 $966.98, October 2018 $943.58. USDOL PR link.

The US Dept of Labor says the US Preliminary October 2019 Consumer Price Index-Urban is +0.4%, Food +0.2%, Energy +2.7%, All Items Less Food & Energy +0.2%, Last 12 Months(Unadjusted) +1.8%. USDOL PR link.

***Tuesday, November 12

Facebook(PBR57) announces Facebook Pay, will provide a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp. $FB PR link.

Starbucks(PBR116) to open its Reserve Roastery Chicago, its largest US retail location with 5 floors and 35,000 sf, on 11/15/19. $SBUX PR link.

Tesla(PBR141)‘s Elon Musk tweets that the next Giga Factory will be in Berlin, Germany, will build batteries, powertrains & vehicles, starting with Model Y. $TSLA PR link.

PG&E(PBR179) says the Bankruptcy Court-approved deadline for fire claimants to file claims against PG&E has been extended to 12/31/19 at 5:00 pm Pacific Time. $PCG PR link.

DR Horton(PBR192) says for FY19 homes closed increased 10% to 56,975 homes and 9% in value to $16.9 billion. $DHI PR link.

ADP(PBR221) authorizes new $5 billion share repurchase program, replaces 2015 25 million shares authorization. $ADP PR link.

Mylan(PBR273) and Pfizer(PBR59)’s Upjohn division to combine as Viatris, to close around mid-2020. $MYL PR link.

Dean Foods(PBR383) files for voluntary Chapter 11 reorganization, has commitment for $850 million debtor-in-possession(DIP) financing, in advanced discussions with Dairy Farmers of America regarding a potential sale, business continues as usual. $DF PR link.

Insight(PBR411) will combine its two Tempe offices into a state-of-the-art creative 48 acres 295,000 sf global headquarters office space in Chandler, AZ, to open by end of 2020. $NSIT PR link.

Diplomat Pharmacy(PBR495) says in 3Q19 report it has concerns about meeting financial obligations by the end of 2019, intends to actively work with its lenders to renegotiate its covenants or amend its credit agreement. $DPLO PR link.

Chipotle(PBR535) is extending its new menu addition, Carne Asada, into 1Q20, exploring options to add as a permanent menu item in the future. $CMG PR link.

Verso Corp(PBR789) to sell its Androscoggin mill, located in Jay, ME, and its Stevens Point mill, located in Stevens Point, WI, to Pixelle Specialty Solutions for $400 million, to close in 1Q20. $VRS PR link.

Winnebago(PBR887) delivers the first all-electric mobile surgical instrument lab (eMSIL) to University of California at Los Angeles (UCLA) Health Center, expected to save UCLA Health Center close to $750,000 a year. $WGO PR link.

Ferrellgas(PBR945) reaches agreement with TPG Specialty Lending regarding alleged defaults. $FGP PR link.

Tupperware(PBR862) Chairman/CEO Tricia Stitzel steps down after 22 years with the company, Board appoints independent director Christopher D. O’Leary as Interim CEO, Lead Director Susan M. Cameron named Non-Executive Chairman, permanent CEO search starts. $TUP PR link.

CoreLogic says the US August 2019 Home Mortgages 30 Days or More Delinquent was at 3.7%, July 2019 was at 3.8%, June 2019 4.0%, August 2018 3.9%. CoreLogic PR link.

***Monday, November 11

***Federal Holiday: Veterans Day
***Honoring those who have served
***in the US Armed Forces.
***Thank you for your service.

The PBR25 Top Buy Analyst Recommendations Info:

– Average Recommendation: 4.73/5.00
– Avg Recommendations Range: 4.62-4.96/5.0
– Avg Number of Recommendations: 30
– Avg Number of Buy Recommendations: 25
– Range of Buy Recommendations: 15 to 44
– NYSE: 17 companies, NASDAQ: 8
– Avg Return since 12/31/14(58 mos): 156.0%

To get The PBR25 click here!

Welltower(PBR544) to acquire a 29-property Class-A medical office building portfolio from Hammes Partners for $787 million, to close in 4Q19, also has an additional gross investment volume of $885 million across four other separate outpatient medical transactions. $Well PR link.

SunPower(PBR939) to separate into two independent, complementary, strategically-aligned and publicly-traded companies – SunPower and Maxeon Solar Technologies, with an equity investment of $298 million to be made in Maxeon Solar by long-time partner Tianjin Zhonghuan Semiconductor Co., Ltd, to close in 2Q20. $SPWR PR link.

WW(PBR960) introduces myWW, its most customized weight-loss program ever, based on the results of a six-month clinical trial of the myWW program conducted at the Medical University of South Carolina’s Weight Management Center. $WW PR link.

***Friday, November 8

The PBRMarketTools US Stock Exchanges Recap for Week 45 of 2019 ending 11/08/19:

DJIA ends Week 45 at a record 27,681.24, +1.22% from last Friday, +2.35% MTD, +2.84% QTD, +18.66% YTD, *0.00% from record 27,681.24 set 11/08/19.

NASDAQ ends Week 45 at a record 8,475.31, +1.06% from last Friday, +2.21% MTD, +5.95% QTD, +27.73% YTD, +0.00% from record 8,475.31 set 11/08/19.

SPX ends Week 45 at a record 3,093.08, +0.85% from last Friday, +1.83% MTD, +3.91% QTD, +23.39% YTD, +0.00% from record 3,093.08 set 11/08/19.

The Week 45 of 2019 News Summary: Internationally, the US officially began its withdrawal from the Paris Climate Accord, the process will take a year. Towards the end of the week it was signaled that the US and China were close to an agreement on international trade that would phase out tariffs, which US President Trump denied on Friday. Protests continue in Hong Kong over policies and democracy concerns. Politically the US House has released some transcripts regarding the President Trump Impeachment Inquiry, to mixed reviews. There was not much US economic news, but jobs openings are still over 7 million, international trade showed some impact from tariffs, consumer debt slowed a little, consumer sentiment was generally positive. 3rd quarter corporate earnings continue to be mixed. There was a bump in CEOs leaving, quitting, or being forced out. The US stock exchanges were very active, with The Stock Market Bull easily prevailing 3-0 by the end of Week 45, with The Stock Market Bear showing some very noticeable hoof prints on his fur.

The Week 45 of 2019 tally YTD is:
The Stock Market Bull: 23 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 8 weeks

The PBR1000 Welcomes Elanco Animal Health!

Date Added: 10/21/19
Products/Services: Animal health and food-animal production
Ticker: NYSE: ELAN, $27.02 on 10/31/19
Current The PBR1000 Rankings:
720 By Revenues: $3.1 billion
447 By Market Capitalization: $10.12 billion(10/31/19)
479 By Assets: $9.0 billion
761 By Employees: 5,780
334 By Analyst Estimates: Overweight, 4.09/5.00, 11 estimates, Average Target Price $33.43(11/08/19)

To get the complete profile for Elanco Animal Health and for all 1,000 of The PBR1000 click here!

Thermo-Fisher Scientific(PBR119) authorizes new $2.5 billion share repurchase program, no expiration date, replaces existing program which had $500 million remaining. $TMO PR link.

Celgene(PBR205) and Acceleron Pharma(NASDAQ: XLRN) get US FDA approval for REBLOZYL® (luspatercept-aamt) for the treatment of anemia in adults with beta thalassemia who require regular red blood cell transfusions. $CELG PR link.

Icahn Enterprises(PBR291) sends letter to Occidental Petroleum(PBR159) shareholders saying why OXY’s acquisition of Anadarko(PBR233) is a bad deal, plans to contest. $IEP PR link.

SunTrust Banks(PBR296) agrees to sell 30 branches in North Carolina, Virginia, and Georgia with $2.4 billion in deposits and $410 million in loans to First Horizon National(PBR856), transaction represents required regulatory divestitures in connection with the merger of equals between SunTrust and BB&T(PBR237). $STI PR link.

Xerox(PBR310) completes restructuring of relationship with FUJIFILM, receives $2.3 billion, $1 billion lawsuit FUJIFILM filed against Xerox after last year’s terminated merger is also dismissed. $XRX PR link.

Markel(PBR422) to acquire VSC, with 1,200 employees at 21 locations in 9 states providing comprehensive fire protection, life safety, and low voltage solutions to retailers, commercial campuses, healthcare facilities, and government properties throughout the SE US, to close in 4Q19, terms not disclosed. $MKL PR link.

Blackstone(PBR423) acquires majority stake in MagicLab, which builds and operates leading dating and social networking apps, including Bumble and Badoo, values the company at approximately $3 billion. http://bit.ly/BXik08$FB PR link.

Moody’s(PBR571) completes its $300 million sale of its global knowledge process outsourcing services provider Moody’s Analytics’ Knowledge Services (MAKS) business to European private equity firm Equistone Partners Europe Limited. $MCO PR link.

Winnebago(PBR887) completes $344 million cash and stock acquisition of $661 million in revenues for 12 months ending 06/19 55 dealer locations Newmar, a manufacturer of Class A and Super C motorized recreation vehicles. $WGO PR link.

Wendy’s(PBR953) to do an accelerated $100 million share repurchase program, to acquire 4.05 million common shares from Morgan Stanley(PBR63). http://bit.ly/WENik08$FB PR link.

The US Dept of Commerce/Census says the US Preliminary September 2019 Wholesale Sales-Durables was at $239.2 billion, Non-Durables $259.3 billion, Total $498.5 billion, +0.0% from August 2019, -0.6% from September 2018. USDOC PR link.

The US Preliminary November 2019 U of Michigan Consumer Sentiment Index is at 95.7, October 2019 was at 95.5, September 2019 93.2, November 2018 97.5. “Although consumers have become somewhat more cautious spenders, they see no reason to engage in the type of retrenchment that causes recessions.” UMichigan PR link.

***Thursday, November 7

Some more facts about The PBR25 Top Buy Analyst Recommendations:
– Number of Evaluations: 14,980
– Evaluations Weighted Average: 4.73/5.00
– Total Stock Price on 10/31/19: $5,695.54
– Total Average Target Stock Price: $6,849.09
– Average Stock Price Increase: 20.3%
– Number Paying Dividends: 15
– Total Market Capitalization: $4.8 trillion

Find out more about The PBR25, click here!

Facebook(PBR57) outlines steps it is taking to better identify new threats, close vulnerabilities and reduce the spread of viral misinformation and fake accounts during the US 2020 election season. $FB PR link.

T-Mobile US(PBR70) to make 5G available nationwide on 12/06/19, provide 10 years of free 5G access to first responders, to spend $10 billion for free service to 10 million rural households. $TMUS PR link.

Coca-Cola(PBR95) to launch sparkling water with a little caffeine brand AHA in 03/20. $KO PR link.

Gilead Sciences(PBR134) responds to government complaint alleging infringement of patents granted to the US Dept of Health and Human Services (HHS) for methods of HIV pre-exposure prophylaxis (PrEP) and post-exposure prophylaxis (PEP), says patents are not valid. $GILD PR link.

Nielson Holdings(PBR441) to spin-off the company’s Global Connect business, creating two independent, publicly traded companies—the Global Media business and the Global Connect business, to be completed in 9-12 months. $NLSN PR link.

Under Armour(PBR515) and Dwayne “The Rock” Johnson releases Project Rock x UA Freedom collection that celebrates veterans, helps support the Fisher House Foundation. $UA PR link.

Monster Beverage(PBR630) authorizes an additional up to $500 million share repurchase program, balance available is around $536.6 million. $MNST PR link.

WW(PBR960) announces 3Q19 ends with record 4.4 million subscibers, includes 3.1 million digital subscribers, 1.3 million studio+digital subscribers, to introduce a new program on 11/11/19. $WW PR link.

Gap Inc(PBR182) President/CEO Art Peck to step down from the company after 15 years and from the Board after a brief transition, Non-Executive Chairman Robert J. Fisher will also serve as Interim President/CEO, effective immediately, new CEO search starts. $GPS PR link.

NortonLifeLock(PBR541) EVP/CFO Vincent Pilette appointed CEO, effective 11/08/19. $NLOK PR link.

Teradata(PBR871) President/CEO Oliver Ratzesberger resigns from company and Board per mutual agreement on 11/05/19, Executive Chairman Victor Lund appointed to also be Interim President/CEO, new CEO search starts. $TDC PR link.

W.R. Grace(PBR904) Non-Executive Chairman Fred Festa retires, Lead Independent Director Christopher J. Steffen elected as successor. $GRA PR link.

SeaWorld(PBR972) hires Sergio (Serge) D. Rivera as CEO and member of the Board, effective 11/11/19, interim CEO Marc Swanson returns to CFO role. $SEAS PR link.

The US Federal Reserve says the US Preliminary September 2019 Consumer Debt-Revolving is at $1.077 trillion, Non-Revolving $3.072 trillion, Total Debt $4.149 trillion, +0.2% from August 2019, +2.7% YTD(9 months), +4.9% from September 2018. USFed PR link.

FannieMae(PBR22) says the US October 2019 Home Purchase Sentiment Index is at 88.8, September 2019 was at 91.5, August 2019 93.8, October 2018 85.7. “Consumer home purchase sentiment remains robust, with the HPSI still near its survey high despite dipping for a second consecutive month …” $FNMA PR link.

***Wednesday, November 6

As of 10/31/19 The PBR25 Buy Recommendations companies have averaged a return of +156.0% since 12/31/14(58 months), The DJIA is at +51.8%, NASDAQ +75.1%, S&P500 +47.5%. To find out more about The PBR25 click here.

Amazon(PBR5) to build a $40 million, 350,000 sf new state-of-the-art Amazon Robotics innovation hub and create 200 tech and advanced manufacturing jobs in Westborough, MA, to open in 2021. $AMZN PR link.

Kroger(PBR21) and TrueCar(NASDAQ: TRUE) launch a new auto buying program, offering members price context, and access to upfront, discounted prices on their next vehicle purchase from over 16,500 TrueCar Certified Dealers. TrueCar PR link.

UPS(PBR41) launches nationwide flat rate service called UPS Simple Rate, offers larger size options than what is in the marketplace today and customers do not need to enter package weight and dimensions or look up shipping zones. $UPS PR link.

HP Inc(PBR55) confirms it is in talks with Xerox(PBR310) regarding a possible combination of their companies. $HPQ PR link.

Facebook(PBR57) not responding to subpoenas from California attorney general’s office regarding it privacy practices, investigators seeking a court’s help in getting documents and answers from Facebook. MarketWatch PR link.

VISA(PBR151) to lease a new, 300,000 square foot, 13-story building in the Mission Rock neighborhood of San Francisco, will serve as Visa’s new global headquarters once completed, will also completely redesign its Foster City campus into a state-of-the-art facility, both to be completed in early 2024. $V PR link.

Biogen(PBR235) to make a $100 million upfront payment to Samsung Bioepis, may pay up to $210 million in additional development, regulatory and sales-based milestones, to secure the exclusive rights to commercialize two new ophthalmology biosimilars, SB11 referencing Lucentis®1 and SB15 referencing Eylea®2, in major markets worldwide, and other identified products. $BIIB PR link.

Office Depot(PBR281) approves a feasibility review of the implementation of a holding company reorganization, called The ODP Corporation, which is expected to be completed by the end of the first quarter of 2020. $ODP PR link.

Office Depot(PBR281) authorizes increase of share repurchase program to $200 million, extends expiration date to 12/31/21. $ODP PR link.

NVR(PBR404) authorizes $300 million share repurchase program. $NVR PR link.

Domtar(PBR498) increases share buyback program by $300 million, balance available is now $478 billion. $UFS PR link.

Taylor Morrison Homes(PBR592) to acquire William Lyon Homes (NYSE: WLH) for $21.45/share, $2.4 billion cash & stock deal, will create 5th largest homebuilder in the US, to close by early 2Q20. $TMHC PR link.

Bloomin’ Brands(PBR602) in 3Q19 report says it is exploring strategic alternatives, including possible sale of the company. $BLMN PR link.

TripAdvisor(PBR949) to be 40% owner and Trip.com Group 60% in joint venture, TripAdvisor China, to share content, Trip.com to get a TripAdvisor board seat, to purchase 6.95 million TripAdvisor shares for around $317.6 million. $TRIP PR link.

Boeing(PBR28 $BA) CEO Dennis Muilenburg gets vote of confidence, volunteers to forgo a bonus this year and any stock awards until all Max jets, including those sitting in Boeing lots, are flying, could take at least a year, compensation last year was worth $23.4 million, including a $13.1 million bonus and $7.3 million in stock awards. MarketWatch PR link.

The US Dept of Labor says the US Preliminary 3Q19 Labor Productivity Output/Hour-All Persons is at -0.3%, 2Q19 was at +2.8%, 1Q19 +3.6%, 3Q18 +0.8%. USDOL PR link.

***Tuesday, November 5

Walmart(PBR1 $WMT) withdraws complaint against Tesla(PBR141) solar panels. MarketWatch PR link.

Kroger(PBR21) approves a $1 billion share repurchase program, replacing the existing authorization that has approximately $546 million remaining. $KR PR link.

VISA(PBR151) issues statement in support of Tencent’s announcement that it intends to support international card schemes in its mobile wallet, will allow VISA to be used in the millions of places in China where WeChat Pay is accepted, instead of having to rely on cash. $V PR link.

Xerox(PBR310) restructures FUJIFILM relationship, will receive $2.3 billion from related transactions. $XRX PR link.

Chipotle(PBR535) to provide access to mental healthcare and financial wellness for more than 80,000 employees in 2020 through Employee Assistance Programs and enhanced benefits offerings. $CMG PR link.

Intl Flavors & Fragrances(PBR609) says its investigation of allegations that improper payments to representatives of customers were made in Russia and Ukraine has been substantiated and it has taken appropriate remedial actions, including replacing senior management in relevant locations. $IFF PR link.

Marvell Technology(PBR754) completes $650 million plus up to an additional $90 million for milestone achievements acquisition of Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GLOBALFOUNDRIES. $MRVL PR link.

Kaman Corp(PBR912) to acquire design, development, and manufacturing of precision springs, seals, and contacts with $95 million in 2019 revenues Bal Seal for $330 million cash. $KAMN PR link.

Graco(PBR947) celebrates the 50th anniversary of its Initial Public Offering. $GGG PR link.

Walmart(PBR1) receives resignation from Board from former McDonald’s(PBR147) CEO Steve Easterbrook. $WMT PR link.

Comerica(PBR653) Executive Chairman Ralph W. Babb Jr to retire on 12/31/19, President/CEO Curtis C. Farmer to also become Chairman on 01/01/20. $CMA PR link.

The US Dept of Labor says the US Preliminary September 2019 Job Openings-Private are at 6,300,000, Government 724,000, Total Job Openings 7,024,000, August 2019 was at 7,301,000, July 2019 7,174,000, September 2018 7,392,000. USDOL PR link.

The US Dept of Commerce says the US Preliminary September 2019 Exports-Goods are at $136.8 billion, Services $69.2 billion, Total Exports $206.0 billion, Exports YTD(10 months) $1.870 trillion; September 2019 Imports-Goods are at $208.6 billion, Services $49.9 billion, Total Imports $258.5 billion, Imports YTD are $2.352 trillion; September 2019 Total Deficit is at $53.5 billion, Total Deficit 2019 YTD(10 Months) is at $481.3 billion, Total Deficit 2018
YTD was $457.2 billion. USDOC PR link.

The Institute for Supply Management says the US October 2019 Non-Manufacturing Index(>50%=Economy growing) is at 54.7%, September 2019 was at 52.6%, August 2019 56.5%, October 2018 60.0%. ISM PR link.

IHS Markit says the US October 2019 Composite PMI Output Index is at 50.9, September 2019 was at 51.0, August 2019 50.7, October 2018 54.9. IHS Markit PR link.

The PurdueU/CME Group says the US October 2019 Ag Economy Barometer Composite Index is at 136, September 2019 was at 121, August 2019 124, October 2018 136. “… producers became more optimistic about both current and future economic conditions on their farms.” PurdueU/CME Group PR link.

***Monday, November 4

The PBR25 Top 25 Stock Buy Recommendations based on 14,980 analysts reviews as of 11/01/19 is now available. Check it out on The PBR25 page.

Apple(PBR3) commits $2.5 billion to combat housing crisis in California. $AAPL PR link.

Bank of America(PBR25) is accelerating move from its current US minimum hourly rate of pay of $17 to $20 by the end of 1Q20, more than a year earlier than originally planned. $BAC PR link.

Philip Morris(PBR37) to end cigarette production in its 40 billion units production capacity in 2019 factory in Berlin, Germany, by 01/01/20, around 950 employees to be impacted, will continue the production of expanded tobacco in Berlin. $PM PR link.

Stryker Corp(PBR233) to acquire Wright Medical Group NV(NASDAQ: WMGI) for $30.75 per share in all stock deal, for a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion. $SYK PR link.

Discover Financial(PBR244) will begin issuing contactless-enabled credit cards over the next several months, cardmembers can tap their Discover cards at card readers with the Contactless Symbol to pay at millions of stores. $DFS PR link.

Symantec(PBR541) completes $10.7 billion in cash sale of its enterprise security business to Broadcom(PBR146), Symantec changes its name to NortonLifeLock, to start trading as NASDAQ: NLOK on 11/05/19. $SYMC PR link.

Workday(PBR765) to acquire cloud-based platform for strategic sourcing and supplier engagement Scout RFP for around $540 million, to close by 01/31/20. $WDAY PR link.

First Horizon National(PBR856) and IBERIABANK Corporation(NASDAQ: IBKC) to combine in an all-stock merger of equals, FHN shareholders to own 56%, IBKC shareholders 44%, to be headquartered in Memphis, TN, will have $75 billion in assets, $57 billion in deposits and $55 billion in loans, to close 2Q20. $FHN PR link.

Pier 1 Imports(PBR956) gets NYSE approval for its business plan to regain compliance with NYSE continued listing standards, has 18 months to come into compliance with $50 million market capitalization and $50 million shareholder equity provision. $PIR PR link.

McDonald’s(PBR147) names President/McDonald’s USA Chris Kempczinski as President/CEO, succeeds Steve Easterbrook who has been separated for violating company policy. $MCD PR link.

Endo Intl(PBR741) President/CEO Paul V. Campanelli is now also Chairman, search for new President/CEO starts, Chairman Roger Kimmel appointed Senior Independent Director. $ENDP PR link.

Columbia Sportswear(PBR769) Chairman Gert Boyle passes away, was 90 years old, was company matriarch since 1970. $COLM PR link.

Columbia Sportswear(PBR769) President/CEO Tim Boyle appointed to also be Acting Chairman per the passing of Gertrude Boyle, Board to make formal appointment of new Chairman at next scheduled meeting in 01/20. $COLM PR link.

Genesco(PBR867) SVP/COO Mimi E. Vaughn to become President/CEO on 02/02/20, will succeed Robert J. Dennis who will become Executive Chairman. $GCO PR link.

Pier 1 Imports(PBR956) CFO Robert Riesbeck appointed CEO as well, effective 11/05/19, succeeds Interim CEO Cheryl Bachelder who remains on the Board. $PIR PR link.

The US Dept of Commerce says the US Preliminary September 2019 Manufacturers’ New Orders-Durable Goods was at $247.7 billion, Non-Durable Goods $249.0 billion, Total New Orders $496.7 billion, -0.6% from August 2019, -3.2% from September 2018. USDOC PR link.

***Friday, November 1

The PBRMarketTools US Stock Exchanges Recap for Week 44 of 2019 ending 11/01/19:

DJIA ends Week 44 at 27,347.36, +1.44% from last Friday, +1.11% MTD, +1.60% QTD, +17.23% YTD, -0.04% from record 27,359.16 set 07/15/19.

NASDAQ ends Week 44 at a record 8,386.40, +1.74% from last Friday, +1.13% MTD, +4.84% QTD, +26.39% YTD, +0.00% from record 8,386.40 set 11/01/19.

SPX ends Week 44 at a record 3,066.91, +1.47% from last Friday, +0.97% MTD, +3.03% QTD, +22.34% YTD, +0.00% from record 3,066.91 set 11/01/19.

The Week 44 of 2019 News Summary: The US/China trade negotiations seem to be making progress with a Phase One signing being planned for. UK’s Brexit has been delayed, a UK general election is scheduled for 12/12/19. Hong Kong protests continue over concerns of its democracy under China’s rule. US economic news was good as the Federal Open Market Committee lowered rates a quarter point to 1.50-1.75%, says US growth is at a moderate pace, and Friday’s job report was much better than anticipated. Third quarter corporate earnings are rolling in to mixed reviews, but generally positive. The Chicago teachers strike comes to an end, but fires continue to rage in California. The big sports news was the major league baseball comeback team Washington Nationals who won their first World Series by winning over the Houston Astros 4 games to 3, with the away team winning all 7 games, a first for the series. For stocks Week 44 was mixed until the good jobs report came out on Friday, which resulted in the NASDAQ and S&P500 setting records and the DJIA just shy of a new one. The Stock Market Bull charged and then gored The Stock Market Bear into submission and took the week 3-0.

The Week 44 of 2019 tally YTD is:
The Stock Market Bull: 22 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 8 weeks

NGL Energy(PBR121) completes around $600 million acquisition from Golden Gate Capital of all of the equity interests of producer of water pipeline and disposal infrastructure solutions to some in the New Mexico and Texas producers Hillstone Environmental Partners. $NGL PR link.

FIS(PBR353) to build a new, expanded world headquarters in Jacksonville, FL, 12 story 300,000 sf facility to open in 06/22, to hire an additional 500 employees. $FIS PR link.

Timken(PBR656) completes around $165 million acquisition of Pegnitz, Germany based estimated $135 million in revenues in 2019 automatic lubrication systems developer BEKA Lubrication. $TKR PR link.

Fitbit(PBR961) to be acquired by Alphabet(PBR16) Google unit for $7.35/share, around $2.1 billion cash, to close in 2020. $FIT PR link.

Univar(PBR342) Executive Chairman Stephen D. Newlin to retire as an employee effective 12/31/19, will become Non-Executive Chairman, Independent Lead Director Christopher D. Pappas expected to become Independent Chairman at 05/20 annual meeting, Newlin to stand for election as a member of the Board. $UNV PR link.

Keysight Technologies(PBR617) President/CEO Ron Nersesian appointed to also be Chairman, Paul Clark now becomes Lead Indpendent Director. $KEYS PR link.

NOW(PBR710) CEO Robert Workman no longer there or on the Board, Board member Dick Alario appointed interim CEO, not a candidate for CEO, new CEO search starts. $DNOW PR link.

Primoris Services(PBR742) Chairman/CEO David King to remain Chairman, President Tom McCormick to become CEO after 10Q release. $PRIM PR link.

The US Dept of Labor says the US October 2019 Civilian Noninstitutional Population is at 259,845,000, Available Labor Force at 164,364,000, Employed at 158,510,000, +241,000 from September 2019, +1,928,000 from October 2018, Unemployed at 5,854,000, -258,000 from October 2018, Unemployment Rate is at 3.6%, October 2018 was at 3.8%. USDOL PR link.

The US Dept of Commerce/Census says the US Preliminary September 2019 Construction Spending Annual Rate-Residential is at $518.0 billion, Non-Residential $775.6 billion, Total $1.294 trillion, +0.5% from August 2019, -2.0% from September 2018. USDOC PR link.

The Institute for Supply Management says the US October 2019 Manufacturing PMI Index(<50%=Economy contracting) is at 48.3%, September 2019 was at 47.8%, August 2019 49.1%, October 2018 57.7%. “Overall, sentiment this month remains cautious regarding near-term growth …” ISM PR link.

The IHS Markit US October 2019 Manufacturing PMI Index is at 51.3, September 2019 was at 51.1, August 2019 50.3, October 2018 55.7. IHS Markit PR link.

TrueCar’s ALG unit says US October 2019 Average Light Vehicle Transaction Price was at $35,239, +0.2% from September 2019, +2.6% from October 2018; Average Incentive Outlay was $3,771; Average Annual Percentage Loan Rate was at 5.7%. TrueCar PR link.

***Thursday, October 31

The PBRMarketTools US Stock Exchanges Recap for October 2019 ending 10/31/19:

DJIA ends October 2019 at 27,046.23, +0.33% from last Friday, +0.48% MTD/QTD, +15.94% YTD, -1.14% from record 27,359.16 set 07/15/19.

NASDAQ ends October 2019 at 8,292.36, +0.60% from last Friday, +3.66% MTD/QTD, +24.97% YTD, -0.45% from record 8,330.21 set 07/26/19.

SPX ends October 2019 at 3,037.56, +0.50% from last Friday, +2.04% MTD/QTD, +21.17% YTD, -0.30% from record 3,046.77 set 10/30/19.

The October 2019 tally YTD is:
The Stock Market Bull: 8 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.

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Filed Under: Recaps Tagged With: acquisitions, Business, Business Intelligence, business news, Economy, Leadership, mergers, Money, Personal Finance, Rankings, Snapshots, Spotlight, Stock Market, The PBR1000, Wealth Management

The PBR1000 October 2019 Breaking News Recap

November 1, 2019 by admin

The White House and The PBR1000: Strange Bedfellows

The White House has a big impact on the economy, which affects The PBR1000 and businesses of all sizes, especially as a contentious election year approaches.

By Larry C. Paxton

The October 2019 breaking news items of interest for The PBR1000 follow with the most current date first.

***Thursday, October 31

The PBRMarketTools US Stock Exchanges Recap for October 2019 ending 10/31/19:

DJIA ends October 2019 at 27,046.23, +0.33% from last Friday, +0.48% MTD/QTD, +15.94% YTD, -1.14% from record 27,359.16 set 07/15/19.

NASDAQ ends October 2019 at 8,292.36, +0.60% from last Friday, +3.66% MTD/QTD, +24.97% YTD, -0.45% from record 8,330.21 set 07/26/19.

SPX ends October 2019 at 3,037.56, +0.50% from last Friday, +2.04% MTD/QTD, +21.17% YTD, -0.30% from record 3,046.77 set 10/30/19.

The October and 10th Month 2019 News Summary: The US/China trade negotiations continued to be in flux as news was mixed throughout the month. At the end a Phase One deal appears to have been agreed upon that will be signed soon. The UK Brexit from the European Union has been extended past the 10/31/19 date, and the UK has set 12/12/19 for general elections. Canada‘s Justin Trudeau gets re-elected, but will have to find some coalition partners to be an effective leader. In a controversial decision President Trump says US troops will be withdrawn from Syria, Turkey invades Syria, in cooperation between Turkey and the Kurds the US kills the notorious leader of ISIS, and the Middle East conflict continues to be a difficult puzzle for finding peace. Hong Kong protests continue over concerns about its future as a democracy while being a part of China. US economic news was more pleasant as summarized by the Federal Open Market Committee after its late October meeting, saying that the US economy continues to grow at a moderate rate, employment and wages are in a good spot, and a recession is not eminent. The United Auto Workers strike with General Motors ends and sets the stage for negotiations with other auto manufacturers. The Stock Market Bear took the first week of October, but the rest of the month was dominated by The Stock Market Bull who won 3-0, the S&P500 broke records at the end of the month with the DJIA and NASDAQ closing in on new highs as well.

The October 2019 tally YTD is:
The Stock Market Bull: 8 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

Marathon Petroleum(PBR31) to separate its Speedway unit into an independent, publicly traded company, will consist of MPC’s company-owned retail store operations, will have a potential enterprise value of $15 billion to $18 billion. $MPC PR link.

Altria(PBR113) records a3Q19 non-cash pre-tax impairment charge of $4.5 billion related to its investment in smokeless tobacco company Juul. $MO PR link.

Amgen(PBR124) enters into a strategic collaboration with BeiGene that will significantly accelerate Amgen’s plans to expand its oncology presence in China, to acquire 20.5% stake in BeiGene for around $2.7 billion in cash. $AMGN PR link.

Henry Schein(PBR240) authorizes an up to $400 million share repurchase program, is in addition to current program which has $75 million available. $HSIC PR link.

LKQ(PBR254) authorizes an additional $500 million for its share repurchase program, total authorization is now $1 billion, expires 10/25/22, has used around $352 million. $LKQ PR link.

Assurant(PBR370) has acquired MMI-CPR LLC, which operates as Cell Phone Repair, one of the largest global franchisors of mobile device repair stores with more than 700 locations, provides a wide variety of same-day electronic device repairs and offers consumers the ability to sell and buy devices at their local CPR store, terms not disclosed. $AIZ PR link.

Spirit AeroSystems(PBR403) to acquire select assets of Bombardier aerostructures and aftermarket services businesses in Belfast, Northern Ireland; Casablanca, Morocco; and Dallas, US for $500 million cash, will also assume around $300 million in net pension liabilities, and approximately $290 million of government grant repayment obligations, for a total enterprise valuation of $1.090 billion. $SPR PR link.

Ametek(PBR536) completes $925 million cash acquisition of Pleasanton, CA based $180 million in annual sales instrumentation and software used to enhance and extend the operation and performance of electron microscopes manufacturer Gatan from Roper Technologies(PBR517). $AME PR link.

Albemarle(PBR678) completes $1.3 billion acquisition of 60% ownership of Mineral Resources Limited(ASX: MIN) Wodgina hard rock lithium mine in Western Australia and forms a 60-40 joint venture with MRL to operate the mine and battery grade lithium hydroxide production facilities. $ALB PR link.

Global Payments(PBR679) to acquire 40,000 merchant accounts from Canada’s cooperative financial group Desjardins Group, to close in early 2020, terms not disclosed. $GPN PR link.

Qorvo(PBR717) authorizes new up to $1 billion share repurchase program, includes approximately $117 million authorized under a prior program. $QRVO PR link.

Marathon Petroleum(PBR31) Chairman/CEO Gary Heminger to retire sometime in 2020, new CEO search starts. $MPC PR link.

Magellan Health(PBR399) hires Kenneth J. Fasola as CEO, effective 11/14/19, will succeed Barry Smith. $MGLN PR link.

The US Dept of Labor says the US Initial Unemployment Insurance Claims 4 Week Average for the Week Ending 10/26/19 is 214,750, 09/21/19 was 212,000, 08/24/19 214,500, 10/20/18 216,000, the Insured Unemployment Rate is at 1.2%. DOL PR link.

The US Dept of Labor says the US 3Q19 All Civilian Workers Employment Cost Index(12/2005=100) is at 138.0, 2Q19 was at 137.0, 1Q19 136.2, 3Q18 134.3. USDOL PR link.

The US Dept of Commerce/BEA says the US Preliminary September 2019 Personal Income Annual Rate is at $18.835 trillion, +0.3% from August 2019, +6.4% from September 2018. USDOC PR link.

The Federal Reserve Bank of Chicago says the 7th District Preliminary September 2019 Midwest Economy Index is at -0.43, August 2019 was at -0.36. ChiFed PR link.

The MNI Chicago Business Barometer(<50 is declining) for October 2019 is at 43.2, September 2019 was at 47.1, August 2019 50.4, October 2018 58.4. MNI/ISM PR link.

FreddieMac(PBR40) says the US Average 30 Year Fixed Home Mortgage on 10/31/19 is at 3.78% with 0.5 points/fees, 09/30/19 was at 3.64%, 08/29/19 3.58%, 10/25/19 4.86%. $FMCC PR link.

***Wednesday, October 30

The PBR1000 Welcomes SS&C Technologies Holdings!

Date Added: 10/21/19
Services: Software technologies for the financial services industry
Ticker: NASDAQ: SSNC
Current The PBR1000 Rankings:
672 By Revenues: $3.4 billion
384 By Market Capitalization: $12.9 billion
166 By Total Yield: 12.18%
329 By Assets: $16.1 billion
335 By Employees: 22,600
63 By Analyst Recommendations: Buy, 4.67/5.00, 15 estimates

To get the complete profile for SS&C Technologies and for all 1,000 of The PBR1000 click here!

Facebook(PBR57 $FB) to pay a $643,000 fine leveled by Britain’s Information Commissioner Office in a privacy case stemming from the Cambridge Analytica scandal, agreeing to accept the fine without admitting any liability. MarketWatch PR link.

Biogen(PBR235) and Alkermes plc (Nasdaq: ALKS) get US FDA approval for VUMERITY™ (diroximel fumarate), an oral fumarate with a distinct chemical structure, for the treatment of relapsing forms of multiple sclerosis. $BIIB PR link.

Molson Coors(PBR285) announces revitalization plan, includes moving from a corporate center and four business units (MillerCoors in the U.S., Molson Coors Canada, Molson Coors Europe and Molson Coors International) to two streamlined business units – North America and Europe. $TAP PR link.

Anixter(PBR356) agrees to be acquired by private investment firm Clayton, Dubilier & Rice for $81.00/share, around $3.8 billion in cash, to close by end of 1Q20. $AXE PR link.

Activision Blizzard(PBR391)’s Call of Duty®: Modern Warfare® had more than $600 million in sell-through worldwide in its first three days of release, a record for Call of Duty, is the top-selling new premium game release of 2019. $ATVI PR link.

Ascena Retail(PBR494)’s The Dress Barn unit says store closings sales at remaining balance of 544 brick and mortar locations to start 11/01/19, has sold the intellectual property assets of Dressbarn and has begun the process of transitioning its ecommerce business to a subsidiary of Retail Ecommerce Ventures LLC who plans to launch a new platform and look of dressbarn.com around 01/01/20. $ASNA PR link.

Digital Realty(PBR725) to acquire a leading provider of carrier- and cloud-neutral colocation data centre services in Europe Interxion (NYSE: INXN), will create a leading global provider of data center, colocation and interconnection solutions, in a $93.48/share, $8.4 billion all stock deal, to close in 2020. $DLR PR link.

Twitter(PBR727) CEO Jack Dorsey tweets that a decision has been made to stop all political advertising on Twitter globally. $TWTR PR link.

HCP(PBR916) changes name to Healthpeak Properties, Inc, to begin trading under its new name and ticker symbol NYSE: PEAK on 11/05/19. $HCP PR link.

Western Digital(PBR183) CEO Steve Milligan to retire upon selection of a successor, then serve in advisory role until 09/20. $WDC PR link.

Trimble(PBR713) President/CEO Steven W. Berglund to become Executive Chairman on 01/04/20, CFO Robert G. Painter elected to become President/CEO and member of the Board. $TRMB PR link.

The Federal Open Market Committee issues statement from its 10/29-30/19 meeting, lowers federal short term interest rates by 0.25% to 1.50%-1.75% on an 8-2 vote, says labor market remains strong and that economic activity has been rising at a moderate rate, survey-based measures of longer-term inflation expectations are little changed. FOMC PR link.

The US Dept of Commerce/BEA says the US Advance 3Q19 Real GDP Annual Growth Rate is at +1.9%, +0.9% from 2Q19, +3.7% from 3Q18. USDOC PR link.

ADP(PBR221) says the US Preliminary October 2019 Change In Employment was +125,000 jobs, 17,000 from Small Businesses(1-49 employees), 64,000 from Mid-Sized Businesses(50-499), 44,000 for Large Businesses(500 or more); -13,000 were from the Goods Producing Sector, +138,000 from the Services Providing Sector. $ADP PR link.

The US Energy Information Administration says the US 10/25/19 Crude Oil Stocks were at 438.9 million barrels of oil, +4.6% from 09/20/19, +3.0% from 10/26/19. EIA PR link.

***Tuesday, October 29

Congratulations to Microsoft(PBR19 $MSFT) for winning the $10 billion 10 year JEDI Pentagon contract last week! Microsoft is also #18 on The PBR25 Top Buy Stocks List of 10/04/19, has a YTD Return of 62.5%, a Weighted Average Recommendation of 4.66/5.00, and an Average Target Price of $161.03 based on 33 Analyst Recommendations. To get all 25 of the Buy recommendations go to The PBR25 Top Buy Stocks PR link.

Walmart(PBR1) says Green Dot will continue to serve as the issuing bank and program manager for the Walmart MoneyCard program for an additional period of 7 years starting 01/01/20; also they will jointly establish a new fintech accelerator under the name “TailFin Labs, LLC,” to develop products, services and technologies that sit at the intersection of retail shopping and consumer financial services, with Walmart as the majority owner. $WMT PR link.

Amazon(PBR5) Fresh grocery delivery is now free for Amazon Prime members, was $14.99/mo, includes one and two-hour options in most Amazon Fresh cities. $AMZN PR link.

AT&T(PBR9)’s WarnerMedia unit to launch HBO Max in 05/20, will include over 10,000 hours of premium content for $14.99/mo, targeting 50 million domestic subscribers and 75 – 90 million premium subscribers by year-end in 2025 across the US, Latin America and Europe. $T PR link.

Johnson & Johnson(PBR36) reports that 15 new tests from the same bottle of Johnson’s Baby Powder previously tested by the US FDA found no asbestos, and an additional 48 new laboratory tests of samples from the single lot of Johnson’s Baby Powder that the Company voluntarily recalled on 10/18/19 (Lot #22318RB) also confirm that the product does not contain asbestos. $JNJ PR link.

Nike(PBR80) to sell its Costa Mesa, CA based design, development, manufacturing, worldwide marketing and selling of surf apparel and accessories subsidiary Hurley International to branding and licensing company Bluestar Alliance LLC, to close in 12/19, terms not disclosed. $NKE PR link.

Parker Hannifin(PBR216) completes $3.625 billion cash acquisition of privately-held Cary, NC-based $1.1 billion in annual sales, 3,100 employees broad array of advanced adhesives, coatings and specialty materials as well as vibration and motion control technologies global provider LORD Corporation. $PH PR link.

MGM Resorts(PBR257) and Roar Digital form an exclusive partnership with Verizon(PBR18) Media unit’s Yahoo Sports as its Digital Media Sports Partner to power BetMGM sports betting for Yahoo Sports and create collaborative content experiences and live events. $MGM PR link.

Xerox(PBR310) in 3Q19 report says it completed its evaluation of its customer financing business, decided it is in the best interest of shareholders to keep the business, will not pursue a sale at this time. $XRX PR link.

Meredith Corp(PBR704) has acquired Santa Monica, CA based Stop, Breathe & Think (SBT), a mobile mindfulness app with more than 17 million emotional check-ins to date, terms not disclosed. $MDP PR link.

Herbalife(PBR534) announces Co-President and Chief Health and Nutrition Officer Dr. John Agwunobi will become CEO 0n 03/30/20, will succeed Chairman/Interim CEO Michael Johnson who will remain Chairman. $HLF PR link.

The US Congressional Budget Office(CBO) current 10 year budget and economic projections forecast a GDP of over 2% for 2019, to average 1.8% per year starting in 2020, annual budget deficit to average $1.2 trillion/year in 2020-2029, public debt to reach 95% of GDP. USCBO PR link.

The US Dept of Commerce/Census says the US 3Q19 Total Housing Units were at 139,785,000, +1,152,000 from 3Q18, 79,492,000 Owner Occupied, 43,243,000 Renter Occupied, 17,050,000 Vacant, Homeownership Rate is 64.8%, 3Q18 was 64.4%. USDOC PR link.

The Conference Board says the US Preliminary October 2019 Consumer Confidence Index(1985=100) is at 125.9, September 2019 was at 126.3. “… confidence levels remain high and there are no indications that consumers will curtail their holiday spending.” TCB PR link.

The S&P CoreLogic Case-Shiller US National August 2019 Home Price NSA Index(01/2000=100) is at 212.06, July 2019 was at 211.63, June 2019 210.87, August 2018 205.55. Case-Shiller PR link.

***Monday, October 28

The PBR25, the Top 25 Buy Stocks according to nearly 15,000 analyst recommendations of The PBR1000, had a cumulative return of 157.40% since 12/31/14, the DJIA was at 51.02%, NASDAQ 68.90%, S&P500 44.58%(As of 09/30/19). To find out more go to The PBR25 Top Buy Stocks PR link.

AT&T(PBR9) reveals 3 year financial guidance and capital allocation plan, developed in conjunction with conversations with activist investor Elliott Management. $T PR link.

AT&T(PBR9) to sell its Central European Media Enterprises unit to an affiliate of Czech investment firm PPF Group NV for $1.1 billion cash, will also be relieved of a $575 million debt guarantee, to close in 2Q20. $T PR link.

T-Mobile US(PBR70) 3Q19 report shows 1.7 million total net additions, record 26th consecutive quarter of more than 1 million total net additions, total of 84,183,000 subscribers. $TMUS PR link.

Allergan(PBR197) Forest subsidiaries will pay $750 million to plaintiff class of direct purchasers of Namenda, subject to finalization of the settlement agreement and court approval. $AGN PR link.

Uber(PBR272) introduces financial services unit Uber Money, lets drivers and couriers have real-time access to their earnings after every trip through the Uber Debit account, other enhancements announced. $UBER PR link.

Navistar(PBR298) launches new business unit, NEXT eMobility Solutions, to deliver customized electrification solutions in the truck and school bus markets, plans to have IC Bus® electric school buses available at the end of 2020, while International® medium-duty electric trucks will be introduced in early 2021. $NAVI PR link.

Tiffany(PBR572) receives an unsolicited, non-binding proposal from LVMH Moet Hennessy – Louis Vuitton to acquire Tiffany for $120/share cash, around $14.5 billion. $TIF PR link.

PolyOne(PBR658) completes $775 million sale of its global provider of formulated PVC and polypropylene based solutions with around $700 million in annual sales Performance Products and Solutions (PP&S) business to SK Capital Partners. $POL PR link.

Prologis(PBR768) to acquire US logistics REIT Liberty Property Trust (NYSE: LPT) for $12.6 billion in all stock deal, includes debt, to close in 1Q20. $PLD PR link.

Apollo Global Mgmt(PBR995) to acquire an additional 18% stake in retirement services company Athene Holding Ltd(NYSE: ATH), for $1.55 billion, will consolidate share classes, to up stake to 35%, has right to nominate 5 of 15 directors. $APO PR link.

The Federal Reserve Bank of Chicago says the US Preliminary September 2019 National Activity Index is at -0.45, August 2019 was at +0.15, July 2019 -0.41, September 2018 +0.08. ChiFed PR link.

***Friday, October 25

The PBRMarketTools US Stock Exchanges Recap for Week 43 ending 10/25/19:

DJIA ends Week 43 at 26,958.06, +0.70% from last Friday, +0.15% MTD/QTD, +15.56% YTD, -1.47% from record 27,359.16 set 07/15/19.

NASDAQ ends Week 43 at 8,243.12, +1.90% from last Friday, +3.05% MTD/QTD, +24.23% YTD, -1.05% from record 8,330.21 set 07/26/19.

SPX ends Week 43 at 3,022.55, +1.22% from last Friday, +1.54% MTD/QTD, +20.57% YTD, -0.11% from record 3,025.86 set 07/26/19.

The Week 43 News Summary: There seemed to be renewed US/China trade negotiations optimism, but no details were provided. UK’s Brexit from the European Union appears to be a done deal, but timing is still uncertain, and the UK has set a time for a new general election. The Turkey/Kurds/Russians/US actions in Syria implications are not yet clear. Hong Kong continues to see protesters in the streets fighting over personal rights and democracy. Canada’s Justin Trudeau wins re-election, but does not have a majority party, will have to form a coalition. The Democrats controlled US House Impeachment Inquiry of President Trump continues, but concerns are being expressed over it not being a transparent process. US economic data continues to show growth, but at a slower pace, mostly because of international trade issues. The week ended with the US Treasury department showing the federal deficit at just under $1 trillion for FY2019. A deluge of 3rd quarter corporate earnings were generally mixed. US consumers remain mostly optimistic because of wage growth and jobs availability. Overall, it was a good week for The Stock Market Bull as he oversaw a fertile pasture, even though The Stock Market Bear did make a rather meek appearance on Tuesday. The Stock Market Bull wins Week 43 3-0.

The Week 43 of 2019 tally YTD is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 8 weeks

AT&T(PBR9) to sell its remaining domestic company-owned wireless towers, includes 1,000+ AT&T towers, to Peppertree Capital Management, for up to $680 million, AT&T will lease back capacity on the towers from Peppertree. $T PR link.

General Motors(PBR13) agreement with United Auto Workers(UAW) team members is ratified, ends strike, 4 year agreement includes 3% wage increases or 4% lump sum payment in each year, preserves 3% healthcare employee cost, $11,000 contract signing bonus for fulltime and $4,500 for parttime employees, no cap on profit sharing, temporary employee transition to permanent employment after 3 years, GM to invest $7.7 billion in the US. $GM PR link.

Microsoft(PBR19 $MSFT) wins Pentagon’s $10 billion over 10 years JEDI cloud contract, beating Amazon(PBR5), article includes link to Pentagon notice. MarketWatch PR link.

Boeing(PBR28) releases statement on final investigation report of Lion Air Flight 610 by Indonesia’s National Transportation Safety Committee (KNKT). $BA PR link.

Facebook(PBR57) starting to test Facebook News app, a dedicated place for news on Facebook, to a subset of people in the US. $FB PR link.

Western Union(PBR486) launches WU.com in India, in association with India’s YES BANK, enabling customers in India to send money globally 24/7. $WU PR link.

The US Dept of Treasury says the US September 2019 Federal Government Receipts were $374.0 billion, Outlays $291.3 billion, for a Surplus of $82.8 billion; Total FY2019 Receipts were $3.462 trillion, Outlays $4.447 trillion, for a Deficit of $984 billion, the FY2018 Deficit was $779 billion. USTreasury PR link.

The University of Michigan US Final October 2019 Consumer Sentiment Index is at 95.5, September 2019 was at 93.2, August 2019 89.8, October 2018 98.6. “The overall level of consumer confidence has remained quite favorable and largely unchanged during the past few years. The October level was nearly identical to the 2019 average (95.6) and only a few Index-points below the average since the start of 2017 (97.0).” UMichigan PR link.

***Thursday, October 24

Sprint(PBR90 $S), AT&T(PBR9 $T), T-Mobile US(PBR70 $TMUS), and Verizon(PBR18 $VZ) create a joint venture – the Cross Carrier Messaging Initiative (CCMI) – to deliver the next generation of messaging to consumers and businesses, to develop and deploy the standards-based, interoperable messaging service starting with Android and expected in 2020. $S PR link.

Amgen(PBR124) announces that Repatha® (evolocumab), a treatment for patients with high cholesterol and cardiovascular disease proven to reduce heart attacks and strokes, will be distributed exclusively at the 60% lower list price of $5,850/year, will no longer be available at its original list price, effective 12/31/19. $AMGN PR link.

Nordstrom(PBR194) opens 320,000 sf 7 levels first flagship store for women and children at the base of Central Park Tower, the tallest residential building in the world, in New York City. $JWN PR link.

Baxter(PBR280) informs the US SEC that it recently began an investigation into certain intra-Company transactions undertaken for the purpose of generating foreign exchange gains or losses, and may have been misstated. $BAX PR link.

Wyndham Destinations(PBR615) Super 8 is rolling out to select hotels its new ROOM8 concept, a shareable suite with arcade games, foosball table, and sleeping for up to 8 people. $WYND PR link.

Square(PBR690) rolling out instant, free and fractional stock trades via its CashApp mobile app per tweets by CEO/Founder Jack Dorsey. $SQ PR link.

First Solar(PBR860) starts production at its new photovoltaic (PV) module manufacturing facility in Lake Township, OH, its second factory in the US, total annualized production capacity in the US is now 1.9-gigawatts (GW)DC, the largest in the US and the Western Hemisphere. $FSLR PR link.

Minerals Tech(PBR923) authorizes new $75 million share repurchase program, replaces previous program which has expired. $MTX PR link.

Six Flags(PBR962) hires Mike Spanos as President/CEO, effective 11/18/19, will succeed retiring Chairman/President/CEO Jim Reid-Anderson, Board member Richard Roedel will become Non-Executive Chairman. $SIX PR link.

The US Dept of Commerce/HUD says the US Preliminary September 2019 New Family Homes Sold Annual Rate is at 701,000, -0.7% from August 2019, +15.5% from September 2018; Median New Family Home Price was at $299,400, -7.9% from August 2019, -8.8% from September 2018; New Homes Available at 321,000, a 5.5 Months Supply. $USDOC PR link.

***Wednesday, October 23

Amazon(PBR5) increases its Amazon Counter service, a network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store at a partner location, by thousands with Amazon’s new store partners GNC(PBR841), Health Mart and Stage Stores(PBR953). $AMZN PR link.

Boeing(PBR28) in 3Q19 report says it has assumed that regulatory approval of the 737 MAX return to service begins in 4Q19 and that it will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020. $BA PR link.

Best Buy(PBR71) says about 99% of its customers now get Free Next-Day Delivery on thousands of items, excludes some bigger and heavier things like big-screen TVs and refrigerators, also offering 1 hour Store Pickup service. $BBY PR link.

Tesla(PBR141) releases 3Q19 report, returns to profitability, confident it will exceed 360,000 vehicles delivered in 2019, trial production of Model 3 in Shanghai has begun, is ahead of schedule, also ahead of schedule to produce Model Y, now expects to launch by summer 2020, is planning to produce limited volumes of Tesla Semi in 2020 and is hoping to announce soon the location of its European Gigafactory for production in 2021. $TSLA PR link.

Dominion Energy(PBR237) and Smithfield Foods invest $500 million to become largest renewable natural gas(RNG) supplier in the US, to convert methane gas from Smithfield’s hog operations, to produce enough RNG to power 70,000 homes and businesses. $D PR link.

Navient(PBR485) approves new share repurchase program for up to $1 billion of common stock, is in addition to the around $77 million remaining from previous authorization. $NAVI PR link.

Wyndham Destinations(PBR615) completes $162 million sale of its Wyndham Vacations Rentals business to Vacasa, N America’s largest vacation rental management platform. $WYND PR link.

ADP(PBR221) says the US 3Q19 Average Yearly Wage Growth was at +3.2%, 2Q19 was at +4.0%, 1Q19 +3.8%, 3Q18 +3.5%; Average Hourly Wage Level is at $28.71, 2Q19 was at $28.54, 1Q19 $28.40, 3Q18 $27.81. “Though wage growth remains healthy, the tight labor market continues to pressure wages and fuel growth across nearly all industries, but employers may be losing the capacity to raise paychecks any further.” $ADP PR link.

***Tuesday, October 22

Verizon(PBR18) in agreement with Walt Disney(PBR54) to give wireless unlimited customers, new Fios Home Internet and 5G Home Internet customers 12 months of Disney+ streaming services, launches 11/12/19. $VZ PR link.

Proctor & Gamble(PBR46) in 1Q20 report says it expects to pay over $7.5 billion in dividends and repurchase $6 billion to $8 billion of common shares in fiscal 2020. $PG PR link.

Facebook(PBR57 $FB) discloses that it spent $4.8 million to influence US lawmakers and regulators in 3Q19, lifting its year-to-date spending on Washington lobbying to $12.3 million, 2018’s full-year total was $12.6 million. MarketWatch PR link.

Starbucks(PBR116) expands Starbucks Delivers to five new US markets, Atlanta, Denver, Phoenix, Philadelphia, and New Jersey, as well as further expansion in the New York Metro, in partnership with Uber(PBR272)’s Uber Eats, will reach national availability in early 2020. $SBUX PR link.

PVH(PBR315)‘s wholly owned subsidiary Calvin Klein and Swatch Group have agreed to end their 22 year watch and jewelry license relationship, Calvin Klein currently evaluating new partners for the category. $PVH PR link.

Meredith Corp(PBR704) has sold its MONEY brand to Ad Practitioners LLC, a portfolio of digital brands, includes 4 million monthly unique visitors MONEY.com, terms not disclosed. $MDP PR link.

Snap(PBR988) in 3Q19 report says Daily Active Users were 210 million in Q3 2019, compared to 203 million in Q2 2019 and 186 million in Q3 2018, 3Q19 revenues were $466 million, net loss was $227 million. $SNAP PR link.

Boeing(PBR28) appoints Stan Deal to succeed Kevin McAllister as President/CEO of Boeing Commercial Airplanes and Ted Colbert to succeed Deal as President/CEO of Boeing Global Services, effective immediately. $BA PR link.

Nike(PBR80) Chairman/President/CEO Mark Parker to become Executive Chairman on 01/13/20, Board member John Donahoe to become President/CEO. $NKE PR link.

Michaels Cos(PBR510) appoints Interim CEO Mark Cosby as permanent CEO, effective immediately. $MIK PR link.

Under Armour(PBR515) Chairman/CEO/Founder Kevin Plank to become Executive Chairman and Brand Chief on 01/01/20, President/COO Patrik Frisk to become President/CEO reporting to Plank. $UA PR link.

The Federal Reserve Bank of Richmond says the US 5th District October 2019 Annualized Manufacturing Index is at +8%, September 2019 was at -9%, August 2019 +1%, October 2018 +17%. “Respondents were optimistic that conditions would continue to improve in the next six months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District October 2019 Annualized Service Sector Revenue Index is at +24%, September 2019 was at +6%, August 2019 +6%, October 2018 +4%. “Firms … reported increased spending and improved local business conditions, and they were optimistic that conditions would continue to improve in the coming months.” RichmondFed PR link.

The Natl Assn or Realtors says the US Preliminary September 2019 Existing Home Sales Annual Rate is at 5,380,000, -2.0% from August 2019, +3.9% from September 2018; Median Home Price is at $272,100, -2.2% from August 2019, +5.9% from September 2018; Existing Inventory is at 1,830,000, -1.6% from August 2019, -2.7% from September 2019; Supply is at 4.1 Months; Median Time on Market is at 32 Days. NAR PR link.

***Monday, October 21

AmerisourceBergen(PBR10 $ABC), Cardinal Health(PBR14 $CAH) and McKesson(PBR7 $MCK) agree to a $215 million settlement with two Ohio counties, Cuyahoga and Summit, in the first track of the multi-district opioid litigation. Joint PR link.

Bank of America(PBR25)’s Merrill Edge Self-Directed unit will expand its zero-dollar online trade benefits, offering unlimited commission-free stock, exchange-traded fund (ETF) and option trading to clients in all tiers of its Preferred Rewards program. $BAC PR link.

Boeing(PBR28) releases letter with more details about an 11/15/16 instant message regarding comments reflecting a reaction to a 737 MAX simulator program that was not functioning properly, and that was still undergoing testing. $BA PR link.

Johnson & Johnson(PBR36)’s Janssen unit gets US FDA approval of STELARA® (ustekinumab) for the treatment of adult patients with moderately to severely active ulcerative colitis. $JNJ PR link.

Facebook(PBR57) announces several new measures to help protect the democratic process and providing an update on initiatives already underway for the US 2020 election. $FB PR link.

Macy’s(PBR115) to stop selling fur by the end of fiscal 2020, includes all Macy’s and Bloomingdale’s private brands, as well as items sold from brand partners, will also be closing its Fur Vaults and salons. $M PR link.

Danaher(PBR157) to sell its label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses, which generated $140 million in revenues in 2018, to Sartorius AG for approximately $750 million, to close in 1Q20. $DHR PR link.

Netflix(PBR195) to offer around $2.0 billion in senior unsecured notes in two series to institutional investors. $NFLX PR link.

Stryker Corp(PBR231) completes around $370 million cash upfront and up to $130 million of contingent payments based on milestone achievements acquisition of point-of-care imaging technology provider Mobius Imaging, and its sister company, GYS Tech, (DBA Cardan Robotics). $SYK PR link.

Dominion Energy(PBR237) to transfer a 25% non-controlling equity interest in Cove Point, a liquefied natural gas (LNG) import, export and storage facility located on the western shore of the Chesapeake Bay in Lusby, MD, to Brookfield Asset Management for $2+ billion cash. $D PR link.

Coty(PBR340) to focus more intently on its fragrance, cosmetics and skin care businesses, to explore strategic alternatives for its Professional Beauty business and associated hair brands, as well as the company’s Brazilian operations, including a divesture. $COTY PR link.

Post Holdings(PBR460) completes $14.00/share IPO of its Active Nutrition business, which markets and distributes ready-to-drink protein and other beverages, protein powders, nutrition bars and other nutritional supplements under the Premier Protein, Dymatize, PowerBar, Supreme Protein and Joint Juice brands, called BellRing Brands(NYSE: BRBR), Post owns around 71% of BellRing. $POST PR link.

Carlisle Cos(PBR567) to acquire 1,000+ employees San Diego, CA based Providien LLC, a provider of manufacturing solutions for global medical device OEMs, including thermoforming, medical device contract manufacturing, precision machining & metals, and medical injection molding, to close in 4Q19, terms not disclosed. $CSL PR link.

Range Resources(PBR691) announces some asset sales for $150 million, initiates a $100 million share repurchase program. $RRC PR link.

Vertex Pharmaceuticals(PBR724) gets US FDA approval of Trikafta (elexacaftor/ivacaftor/tezacaftor), the first triple combination therapy available to treat patients with the most common cystic fibrosis mutation. $VRTX PR link.

Adtalem Education(PBR983) to sell its Brazilian portfolio, Adtalem Educacional do Brasil, to YDUQS, the second largest education company in Brazil, for $465 million, to be completed by 12/31/20. $ATGE PR link.

***Friday, October 18

The PBRMarketTools US Stock Exchanges Recap for Week 42 ending 10/18/19:

DJIA ends Week 42 at 26,770.20, -0.17% from last Friday, -0.54% MTD/QTD, +14.76% YTD, -2.15% from record 27,359.16 set 07/15/19.

NASDAQ ends Week 42 at 8,089.54, +0.40% from last Friday, +1.13% MTD/QTD, +21.92% YTD, -2.89% from record 8,330.21 set 07/26/19.

SPX ends Week 42 at 2,986.20, +0.54% from last Friday, +0.32% MTD/QTD, +19.12% YTD, -1.31% from record 3,025.86 set 07/26/19.

The Week 42 News Summary: Rumors and vitriol continued with the US House Impeachment Inquiry of President Trump, which was tampered somewhat by the death of longtime Democrat leader Elijah Cummings; it appears a Brexit deal has been reached between the UK and EU, a lot of jockeying is taking place to try to get UK’s parliament to pass it this weekend. Economic growth worldwide and in the US continued to be positive, but slowing, with some of the drag being placed on the US/China trade negotiations, which appear to be making progress. General Motors and the United Auto Workers have come to an agreement after a few weeks of strikes with the UAW membership to vote on the new contract this weekend. US 3Q corporate earnings seem to be doing better than anticipated. It looked like The Stock Market Bull was going to prevail for Week 42, but The Stock Market Bear got in the ring on Friday when Boeing and Johnson & Johnson issued some bad news sending Week 42 into the books as a mixed result, 2-1 for The Stock Market Bull.

The Week 42 of 2019 tally YTD is:
The Stock Market Bull: 20 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 8 weeks

Walmart(PBR1) to take a $2.2 billion charge to earnings for its UK based ASDA Group Pension Plan buyout. $WMT PR link.

Boeing(PBR28 $BA) alerted the US Dept of Transportation to the existence of instant messages between two Boeing employees, characterizing certain communications with the FAA during the original certification of the 737 MAX in 2016. FAA PR link.

. Boeing(PBR28) President/CEO responds with a letter saying Boeing is cooperating with various departments on the 737 MAX issues. $BA PR link.

Johnson & Johnson(PBR35) initiates a voluntary recall in the United States of a single lot of its Johnson’s Baby Powder in response to a US FDA test indicating the presence of subtrace levels of chrysotile asbestos contamination (no greater than 0.00002%) in
samples from a single bottle purchased from an online retailer. $JNJ PR link.

Facebook(PBR56 $FB), Wall Street Journal publisher News Corp(PBR305 $NWSA) and others reach deal for news section, FB to pay license fees to some publishers. MarketWatch PR link.

Marriott Intl(PBR147) to acquire the Elegant Hotels Group for an enterprise value of $199 million, owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. $MAR PR link.

DTE Energy(PBR217) Midstream unit to acquire a gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for $2.25 billion cash, plus a $400 million milestone payment upon completion of the gathering pipeline in 2H20. $DTE PR link.

Oracle(PBR78) letter from Executive Chairman/Founder Larry Ellison announces death of co-CEO Mark Hurd, had been on leave of absence for health related reasons. $ORCL PR link.

The Conference Board says the US Preliminary September 2019 Leading Economic Index(2016=100) is at 111.9, August 2019 was at 111.2, July 2019 112.2. TCB PR link.

***Thursday, October 17

Ford(PBR12) is implementing a plan to make available 12,000+ charging stations, including fast-charging, with 35,000 plugs for electric vehicles, Amazon(PBR5) Home Services to install home based charging stations. $F PR link.

Facebook(PBR56) Chairman/CEO Mark Zuckerberg speaks at Georgetown University about the importance of protecting free expression, will not be fact checking political ads, believes people should decide what is credible, not tech companies. $T PR link.

Tyson(PBR75) to prohibit the use of feed ingredient ractopamine in the market hogs it buys from farmers beginning in 02/20, will help with global market where several key countries like China have forbidden the use of ractopamine. $T PR link.

Marriott Intl(PBR147) has purchased the 270-room W New York – Union Square in the heart of Manhattan’s Union Square neighborhood for $206 million, planning significant renovation. $T PR link.

Kohl’s(PBR152) launches several new brands in time for the holidays, The Beauty Checkout started in 10/19 to be supported by Facebook starting in 2020. $T PR link.

PayPal(PBR201) and Synchrony Financial(PBR167) expand relationship to launch in 2H20 Venmo‘s first-ever credit card. $T PR link.

Skechers(PBR549) wins in lawsuit filed by Nike(PBR79)’s Converse unit, judge says Skechers’ did not violate Converse’s Chuck Taylor trademark. $T PR link.

Hasbro(PBR552) $4.0 billion cash acquisition of Canada based global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content, including popular pre-teen characters Peppa Pig and PJ Masks, Entertainment One Ltd(LSE: ETO) is approved by ETO shareholders, still to close in 4Q19. $T PR link.

The US Dept of Commerce says the US Preliminary September 2019 New Residential Permits Issued Annual Rate is at 1,387,000, -2.7% from August 2019, +7.7% from September 2018. USDOC PR link.

The US Federal Reserve says US Preliminary September 2019 Industrial Production % of Capacity is at 77.5%, August 2019 was at 77.9%, July 2019 77.4%, September 2018 78.5%, Capacity Growth since September 2018 is at +2.2%. USFed PR link.

The US Federal Reserve Bank of Philadelphia says the 3rd District October 2019 Manufacturing General Activity Indicator is at +5.6, September 2019 was at +12.0, August 2019 +16.8, October 2018 +19.7. “Responses … suggest growth in manufacturing activity this month …. The survey’s future indexes indicate that respondents continue to expect growth over the next six months.” PhillyFed PR link.

***Wednesday, October 16

Johnson & Johnson(PBR35 $JNJ) offers $4 billion opioid litigation settlement, would resolve more than 2,000 lawsuits by state and local governments. Wall Street Journal PR link.

T-Mobile US(PBR70) $59 billion all stock acquisition of Sprint(PBR90) gets US Federal Communications Commission approval on a 3-2 party line vote, still needs additional regulatory approvals and settlement of litigation. MarketWatch PR link.

Eli Lilly(PBR117) says top-line results from its Phase 3 SEQUOIA trial evaluating pegilodecakin plus FOLFOX (folinic acid, 5-FU, oxaliplatin) compared to FOLFOX alone in patients with metastatic pancreatic cancer whose disease had progressed during or following a first-line gemcitabine-containing regimen did not meet its primary endpoint of overall survival, still being evaluated as a therapy for non-small cell lung cancer. $LLY PR link.

Henry Schein(PBR240) gets dismissal of claims by a US Federal Trade Commission judge alleging that Henry Schein conspired with competitors to avoid providing discounts to, or to otherwise serve, buying groups representing dental practitioners. $HSIC PR link.

Alexion Pharmaceuticals(PBR601) to acquire clinical-stage biopharmaceutical company Achillion Pharmaceuticals(NASDAQ: ACHN) for an initial $6.30/share, $930 million cash, plus an additional $2.00/share, around $295 million, based an milestone achievements, to close in 1H20. $ALXN PR link.

American Eagle Outfitters(PBR607) to hire nearly 10,000 part-time seasonal brand ambassadors for its American Eagle and Aerie store teams, hiring event set for 10/20/19 in stores. $AEO PR link.

Sabre Corp(PBR621) acquires Orlando, FL based $20 million in revenues in 2019 airline retailing software provider in the low cost carrier space Radixx for around $110 million. $SABR PR link.

The US Dept of Commerce/Census says the US Preliminary August 2019 Sales-Manufacturers is at $503.0 billion, Retailers $461.9 billion, Wholesalers $499.1 billion, Total Sales $1.464 trillion, +0.2% from July 2019, +1.1% from August 2018. USDOC PR link.

The US Dept of Commerce/Census says the US Preliminary September 2019 Retail Sales are at $460.4 billion, Food Services & Drinking Places $65.2 billion, Total $525.6 billion, -0.3% from August 2019, +4.1% from September 2018. USDOC PR link.

The US Federal Reserve System releases its Beige Book for economic data through 10/07/19. “The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country.” USFed PR link.

The Natl Assn of Home Builders/Wells Fargo US Preliminary October 2019 Housing Market Composite Index(>50=builders say conditions are good) is at 71, September 2019 was at 68, August 2019 67, October 2018 68. “The housing rebound that began in the spring continues, supported by low mortgage rates, solid job growth and a reduction in new home inventory …” NAHB PR link.

***Tuesday, October 15

Abbott(PBR100) authorizes new up to $3 billion share repurchase program, is in addition to $795 million unused portion of previous authorization. $ABT PR link.

MGM Resorts(PBR257) to form a joint venture with Blackstone(PBR423) Real Estate Income Trust that values the real estate of Bellagio at $4.25 billion, will acquire the Bellagio real estate and lease it back to a subsidiary of MGM Resorts to operate the property for initial annual rent of $245 million, MGM Resorts will receive a 5% equity interest in the joint venture and cash of approximately $4.2 billion, to close in 4Q19. $MGM PR link.

MGM Resorts(PBR257) to sell 2,300 employees Circus Circus Las Vegas for $825 million to an affiliate of Treasure Island owner Phil Ruffin, to close in 4Q19. $MGM PR link.

AMC Entertainment(PBR497) launches AMC Theatres On Demand, a digital movie service with around 2,000 movies, available to AMC Stubs members. $AMC PR link.

***Monday, October 14

UPS(PBR41) launches Storage on Demand, customers request delivery of empty storage bins to their home or business, fill and seal the bins, request pickup and delivery to a secure UPS storage site, then request retrieval delivery when needed, pricing starts at $5/month per bin, available in metro Atlanta, GA area, to expand nationwide. $UPS PR link.

Allergan(PBR197) shareholders approve $188.24/share cash/stock, a 45% premium from the 06/24/19 closing price, equity value of around $63 billion acquisition by AbbVie(PBR91), to close in early 2020. $AGN PR link.

Ross Stores(PBR207) opens 30 Ross Dress for Less® and 12 dd’s DISCOUNTS® stores across 19 different states in September and October, completes store growth plans for fiscal 2019 with the addition of 98 new stores. $ROST PR link.

Sempra Energy(PBR260) to sell its equity interests in its Chilean businesses, including its 100% stake in Chilquinta Energía SA, to State Grid International Development Limited for $2.23 billion cash, part of strategy to focus on N America business. $SRE PR link.

Asbury Automotive(PBR420) acquires its first Colorado and first Subaru dealership, Denver area 120 employees Mike Shaw Subaru in Thornton. $ABG PR link.

Harley-Davidson(PBR480) halts production of its LiveWire electric motorcycles after discovering a problem related to the vehicle’s charging equipment. $HOG PR link.

KKR(PBR831) acquires majority stake in Hyperoptic Ltd, the UK’s largest residential gigabit broadband provider, includes a full fibre network covering 43 towns and cities across the UK, with gigabit broadband services passing almost 400,000 homes and businesses, with plans to have over 5 million by 2024, terms not disclosed. $KKR PR link.

Hershey(PBR381) President/CEO Michele Buck elected to also be Chairman, succeeds Chairman Chuck Davis who will reassume the role of Lead Independent Director. $HSY PR link.

The US Federal Reserve Bank of New York says the US October 2019 Empire State Manufacturers General Business Conditions Index is at +4.o, September 2019 was at +2.0%, August 2019 +24.3. Indexes assessing the six-month outlook indicated that optimism about future conditions improved somewhat but remained subdued. NYFed PR link.

***Friday, October 11

Amazon(PBR5) to open a 1,000,000+ sf fulfillment center in Channahon, Illinois, creating 500+ new, full-time jobs starting at $15/hr. $AMZN PR link.

Cisco(PBR62) completes acquisition of Salt Lake City, UT privately-held contact center predictive analytics developer and provider CloudCherry, terms not disclosed. $CSCO PR link.

3M(PBR92) completes $6.7 billion, includes debt, acquisition of global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand $1.5 billion in sales in 2018 Acelity from a consortium of Apax Partners. $MMM PR link.

Uber(PBR272) to acquire majority ownership of Cornershop, a leading online grocery provider in Chile, Mexico, and more recently in Peru and Toronto, to close in early 2020, terms not disclosed. $UBER PR link.

Boeing(PBR28) separates Chairman & CEO roles, Dennis Muilenburg continues as President/CEO, Lead Director David Calhoun elected Non-Executive Chairman. $BA PR link.

The US Dept of Labor says the Preliminary September 2019 Import Prices Growth is at +0.2%, August 2019 was at -0.2%, July 2019 +0.0%, September 2018 +0.1%, Last 12 Months -1.6%; September 2019 Export Prices Growth is at -0.2%, August 2019 was at -0.6%, July 2019 +0.2%, September 2018 +0.0%, Last 12 Months -1.6%. USDOL PR link.

The U of Michigan says the US Preliminary October 2019 Consumer Sentiment Index is at 96.0, September 2019 was at 93.2, August 2019 89.8, October 2018 98.6. “Sentiment rebounded in early October as consumers anticipated larger income gains and lower inflation during the year ahead.” UMichigan PR link.

***Thursday, October 10

Amazon(PBR5) increases its Amazon Counter service, a network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store at a partner location, by thousands with Amazon’s new store partners GNC, Health Mart and Stage Stores. $AMZN PR link.

Prudential Financial(PBR50) completes $2.35 billion plus up to an additional $1.15 billion based on achieving milestones consumer solutions platform for health and financial wellness needs provider Assurance IQ. $PRU PR link.

ADP(PBR221) opens new office in Downtown Allentown, PA, 243,241 sf, 10 floors, for 1,000 employees in a Class A office tower. $ADP PR link.

Electronic Arts(PBR531) EA SPORTS™ FIFA 20 passes 10 million users, 450 million matches playes, 1.2 billion goals scored. $EA PR link.

Triumph Group(PBR680) to sell its Nashville, TN based around $125 million in revenues for year ending 03/31/19 assembly operations to an affiliate of TECT Aerospace, a manufacturer of complex aerostructure components, parts and assemblies, to close by 12/31/19, terms not disclosed. $TGI PR link.

The US Dept of Labor says the US Preliminary September 2019 Employee Current Average Earnings/Hour are at $28.09 with Average Weekly Hours at 34.4 for Average Weekly Earnings of $966.30, August 2019 was at 966.64, July 2019 $960.06, September 2018 $941.85. USDOL PR link.

The US Dept of Labor says the US September 2019 Consumer Price Index grew at +0.0%, August 2019 was at +0.1%, July 2019 +0.3%, September 2018 +0.1%, Last 12 Months +1.7%. USDOL PR link.

***Wednesday, October 9

AT&T(PBR9) to sell its wireless and wireline operations in Puerto Rico and the US Virgin Islands to Liberty Latin America for $1.95 billion cash, to close in 6-9 months. $T PR link.

UPS(PBR40) to purchase 6,000+ natural gas-powered trucks beginning in 2020 and running through 2022, represents a $450 million investment in expanding the company’s alternative fuel and advanced technology vehicle fleet as well as supporting infrastructure. $UPS PR link.

Dollar Tree(PBR129) to hire 25,000+ associates in its fourth annual Nationwide Hiring Event hosted at Dollar Tree and Family Dollar stores across the US on Wednesday, 10/16/19. $DLTR PR link.

PG&E(PBR177) begins to proactively turn off power for safety to nearly 800,000 customers across Northern and Central California, in response to a widespread, severe wind event, to prevent wildfires caused by electrical lines. $PCG PR link.

Fitbit(PBR958) to shift its manufacturing operations outside of China for effectively all of its trackers and smartwatches to avoid tariffs, starting in 01/20. $FIT PR link.

Bed Bath & Beyond(PBR251) hires Mark J. Tritton as President/CEO and member of its Board, effective 11/04/19, succeeds interim CEO Mary A. Winston. $BBBY PR link.

The US Federal Reserve Open Market Committee releases its Minutes from the 09/17-18/19 meeting, “Participants generally had become more concerned about risks associated with trade tensions and adverse developments in the geopolitical and global economic spheres. In addition, inflation pressures continued to be muted. Many participants expected that real GDP growth would moderate to around its potential rate in the second half of the year.” FOMC PR link.

The US Dept of Labor says the US Preliminary August 2019 Job Openings-Private were at 6,320,000, Government 731,000, Total 7,051,000, July 2019 was at 7,174,000, June 2019 7,248,000, August 2018 7,341,000. USDOL PR link.

The US Dept of Commerce/Census says the US Preliminary August 2019 Wholesales Sales-Durables is at $239.2 billion, Non-Durables $259.9, Total $499.1, July 2019 was at $499.0 billion, June 2019 $498.2 billion, August 2018 $499.1 billion. USDOC PR link.

***Tuesday, October 8

Johnson & Johnson(PBR35 $JNJ) must pay $8 billion over antipsychotic drug Risperdal says Philadelphia, PA jury, one of 13,000 lawsuits, appeal planned. MarketWatch PR link.

Oracle(PBR78) to hire nearly 2,000 employees worldwide to work on its growing Oracle Cloud Infrastructure business. $ORCL PR link.

Bristol-Myers Squibb(PBR132) extends expiration date of the offers to exchange the Celgene(PBR204) notes for up to $19,850,000,000 from 10/15/19 to 10/25/19, 5:00PM NYC time. $BMY PR link.

AutoZone(PBR275) authorizes additional $1.25 billion for its share repurchase program, has authorizes $23.2 billion in share repurchases since 1998. $AZO PR link.

Domino’s Pizza(PBR671) authorizes new up to $1 billion share repurchase program. $DPZ PR link.

Ashland(PBR639) Chairman/CEO William A. Wulfsohn to retire, effective 12/31/19, Board elects Guillermo Novo as Chairman/CEO successor. $ASH PR link.

The US Dept of Labor says the US Preliminary September 2019 Producer Price Index Total Monthly Final Demand-Goods is -0.4%, Services -0.2%, Total -0.3%, Last 12 Months +1.4%, August 2019 was at +1.8%, July 2019 +1.7%, September 2018 +2.7%. USDOL PR link.

CoreLogic says the US July 2019 Percent of Home Mortgages 30 or more Days Delinquent was at 3.8%, June 2019 was at 4.0%, May 2019 3.6%, July 2018 4.1%; the July 2019 Foreclosure Inventory Rate was at 0.4%, which tied the prior eight months as the lowest for any month since at least January 1999. CoreLogic PR link.

***Monday, October 7

Walmart(PBR1 $WMT) sells ModCloth amid e-commerce ‘evolution.’ MarketWatch PR link.

Amazon(PBR5) expands Amazon FreeTime and FreeTime Unlimited to more devices, including the new Kindle Kids Edition($109.99), Fire HD 10 Kids Edition, and on select Fire TV devices. $AMZN PR link.

Amazon(PBR5) introduces its all-new Fire HD 10, its largest tablet, with a full HD 10.1” display and 2.0 GHz octa-core processor, includes up to 12 hours of battery life, 32 GB of internal storage with up to 512 GB more via microSD, fast and easy charging with USB-C, Alexa hands-free, and picture-in-picture capability, for $149.99. $AMZN PR link.

GE(PBR20) is freezing the US GE Pension Plan for approximately 20,000 employees with salaried benefits, and US Supplementary Pension benefits for approximately 700 employees, both effective 01/01/21; also offering a limited time lump-sum payment option to around 100,000 eligible former employees who have not started their monthly US GE Pension Plan payments, to reduce GE’s pension deficit by approximately $5-8 billion and Industrial net debt by approximately $4-6 billion. $GE PR link.

Kroger(PBR21) is discontinuing the sale of electronic nicotine delivery products, or e-cigarettes, at all store and fuel center locations due to the mounting questions and increasingly-complex regulatory environment associated with these products, will exit this category after selling through its current inventory. $KR PR link.

Sears(PBR179 $SHLDQ) gets court approval for liquidation plan. MarketWatch PR link.

Dick’s Sporting Goods(PBR352) to host its second-annual “National Signing Day” on 10/16/19, hiring up to 8,000 seasonal teammates. $DKS PR link.

Michaels Cos(PBR511) and UPS(PBR40) complete rollout of UPS Access Point® pickup and delivery locations to 1,100+ Michaels Cos stores nationwide. $MIK PR link.

Square(PBR690) now providing service for CBD products vendors to be able to accept payments. $SQ PR link.

Aramark(PBR195) hires its former President of Global Food & Support Services John J. Zillmer as CEO and member of the Board, effective immediately. $ARMK PR link.

Red Robin(PBR977) Chair Pattye Moore to retire effective 11/01/19, Board member David A. Pace appointed as successor. $RRGB PR link.

The US Federal Reserve System says the US Preliminary August 2019 Consumer Credit Outstanding-Revolving is at $1.079 trillion, Non-Revolving $3.062 trillion, Total $4.141 trillion, +$17.9 billion from July 2019, +$130.7 billion YTD(8 months), +$201.4 billion from August 2018. USFed PR link.

FannieMae(PBR22) says the US September 2019 Housing Market Sentiment Index is at 91.5, August 2019 was at 93.8, July 2019 93.7, September 2018 87.7. “Consumer sentiment remains relatively strong overall, though uncertainty about the economy and individual financial circumstances appear to be weighing on housing market attitudes a bit more than a month ago…” $FNMA PR link.

***Friday, October 4

The PBRMarketTools US Stock Exchanges Recap for Week 40 ending 10/04/19:

DJIA ends Week 40 at 26,573.72, -0.92% from last Friday, -1.27% MTD/QTD, +13.92% YTD, -2.87% from record 27,359.16 set 07/15/19.

NASDAQ ends Week 40 at 7,982.47, +0.54% from last Friday, -0.21% MTD/QTD, +20.3% YTD, -4.17% from record 8,330.21 set 07/26/19.

SPX ends Week 40 at 2,952.01, -0.33% from last Friday, -0.83% MTD/QTD, +17.76% YTD, -2.44% from record 3,025.86 set 07/26/19.

The Week 40 News Summary: Most of the news for the week revolved around the US House’s Impeachment Inquiry of President Trump and his alleged arm twisting of Ukraine to investigate presidential candidate Joe Biden and his son Hunter. Economic news about the US manufacturing sector was not very encouraging, but at the end of the week the ADP and US jobs reports came out, showing continued hiring and a 3.5% unemployment rate, the lowest since December 1969, and took away some recession fears talk. US/China trade negotiations are still on and talks with N Korea about its nuclear weapons are said to be set as well. The Stock Market Bear aggressively gashed out big holes in the stock exchanges on Tuesday and Wednesday, but The Stock Market Bull came back to unexpectedly take the NASDAQ for the week. Week 40 ends with a mixed result, the first mixed result since Week 18, with The Stock Market Bear taking a 2-1 win.

The Week 40 of 2019 tally YTD is:
The Stock Market Bull: 19 weeks
The Stock Market Bear: 14 weeks
Mixed Results: 7 weeks

Phillips 66(PBR24) approves new up to $3 billion share repurchase program, for an aggregate of $15 billion authorized since 2012. $PSX PR link.

Johnson & Johnson(PBR35) gets US FDA approval for DARZALEX® (daratumumab) in combination with bortezomib, thalidomide and dexamethasone (VTd) for newly diagnosed patients with multiple myeloma who are eligible for autologous stem cell transplant. $JNJ PR link.

Ally Financial(PBR294)’s Ally Invest online brokerage and wealth management unit to offer $0 commissions on US stock, ETF, and option trades starting 10/09/19. $ALLY PR link.

Activision Blizzard(PBR390)’s Call of Duty®: Mobile has surpassed 35 million downloads, faster than any other mobile First Person or Third Person Action games on App Store and Google Play. $ATVI PR link.

Hess(PBR444) to receive $275 million plus 115 million newly issued units in Hess Midstream Partners LP (NYSE: HESM) upon HESM’s acquisition of Hess Infrastructure Partners, which is a 50/50 joint venture between Hess and Global Infrastructure Partners. $HES PR link.

Equinix(PBR525) to acquire three data centers that serve the Mexico City and Monterrey metro areas of Mexico from Axtel S.A.B. de C.V. (BMV: AXTELCPO) for $175 million in an all-cash transaction, to close in 1Q20. $EQIX PR link.

Take-Two Interactive(PBR789)’s Rockstar Games® unit to release Red Dead Redemption 2 for PC on 11/05/19, with special bonuses available to players who pre-purchase through the Rockstar Games Launcher starting 10/09/19. $TTWO PR link.

The US Dept of Labor says the US September 2019 Civilian Labor Force Employed was at 164,039,000, +391,000 from August 2019, +2,200,000 from September 2018; Unemployed at 5,770,000, -274,000 from August 2019, -194,000 from September 2018; Unemployment Rate is at 3.5%, lowest since December 1969. USDOL PR link.

The US Dept of Commerce says the US August 2019 Exports-Goods was at $138.6 billion, Services $69.3 billion, Total $207.9 billion, YTD Total $1,655 billion; Imports-Goods were at $213.0 billion, Services $49.8 billiion, Total $262.8 billion; Total August 2019 Deficit was $54.9 billion, Total August 2018 Deficit was $54.9 billion; Total Deficit YTD 2019(8 months) was $428.7 billion, Total Deficit YTD 2018 was $401.1 billion. USDOL PR link.

***Thursday, October 3

Alphabet(PBR16)’s Google unit launches redesigned Google Shopping in the US. $GOOG PR link.

HP Inc(PBR54) to complete reduction of gross global headcount by 7,000-9,000 in fiscal 2022, authorizes additional $5 billion for share repurchase program, balance available is now around $6.7 billion. $HPQ PR link.

Macy’s(PBR114) to hire approximately 80,000 seasonal colleagues for its Macy’s and Bloomingdale’s stores, call centers and distribution and fulfillment centers for the 2019 holiday season, sets national hiring event on Thursday, 10/24/19, from 11am– 7pm, in local time zones. $M PR link.

Eli Lilly(PBR116) has requested the delisting of its shares (ISIN US5324571083) (“Lilly Shares”) from Euronext Paris due to the very low trading volume, costs and administrative requirements related to its secondary listing on Euronext Paris. $LLY PR link.

MGM Resorts(PBR256) reaches settlement agreement with plaintiffs over 10/01/17 shooting, settlement amount to be $735 million to $800 million, entire process to be completed by end of 2020. $MGM PR link.

Domtar(PBR499) to close its Ashdown, AR pulp and paper mill, and the Port Huron, MI paper mill, workforce to be reduced by around 100, will reduce the Company’s annual uncoated freesheet paper capacity by approximately 204,000 short tons. $UFS PR link.

Zoetis(PBR476) CEO Juan Ramón Alaix to retire effective 12/31/19, EVP & Group President Kristin Peck to be successor on 01/01/20. $ZTS PR link.

The US Dept of Commerce says the US Preliminary August 2019 Manufacturers’ New Orders-Durable Goods was at $250.7 billion, Non-Durable Goods $249.0 billion, Total $499.7 billion, -0.1% from July 2019, -2.4% from August 2018. USDOC PR link.

The Institute for Supply Management says the US September 2019 Non-Manufacturing Index(>50%=economy expanding) is at 52.6%, August 2019 was at 56.4%, July 2019 53.7%, September 2018 60.8%. ISM PR link.

IHS Markit says the US September 2019 Composite PMI Index is at 51.0, August 2019 was at 50.7, July 2019 52.6, September 2018 53.9. IHS Markit PR link.

***Wednesday, October 2

General Motors(PBR13 $GM) latest proposal to United Auto Workers met with counterproposal as strike by 49,000 continues into16th day. UAW PR link.

Alphjabet(PBR16)’s Google unit expands security options with Incognito Mode for Maps and Auto-Delete to YouTube. $GOOG PR link.

Microsoft(PBR19) announces 5 new Surface computer products and 2 dual-screen devices for its Holiday 2020 campaign. $MSFT PR link.

Johnson & Johnson(PBR35) Janssen unit does settlement agreement with the Ohio counties of Cuyahoga and Summit that resolves all of the counties’ claims with no admission of liability and removes the Company from the federal trial scheduled to begin 10/21/19, will pay $10 million plus $5 million to reimburse counties’ legal and other expenses, as well as $5.4 million of its charitable contributions to non-profit organizations in connection with opioid-related programs in these two counties. $JNJ PR link.

Tesla(PBR140) delivers 17,400 Model S/X and 79,600 Model 3s, a record total of 97,000, in 3Q19, achieved record net orders in 3Q19 and are entering 4Q19 with an increase in its order backlog, financial results to be released later. $TSLA PR link.

Charles Schwab(PBR304) is first major US stock broker to eliminate US & Canada stock, ETF and options commissions, effective 10/07/19, was $4.95 per trade, no minimum balance required. $SCHW PR link.

Blackstone(PBR424) to acquire 65% controlling interest in Great Wolf Resorts, the owner and operator of 18 family-oriented entertainment resorts around the US, transaction includes Blackstone and Centerbridge forming a new $2.9 billion joint venture to own the Company. $BX PR link.

Rockwell Automation(PBR436) and Schlumberger(PBR90) completes forming of 53/47 joint venture Sensia, the oil and gas industry’s first fully integrated digital oilfield automation solutions provider, will have 1,000 employees, anticipates $400 million in annual revenues, Rockwell made a $250 million cash payment to Schlumberger at closing. $ROK PR link.

TD Ameritrade(PBR500) becomes 2nd major US stock broker to eliminate commission fees for US & Canada online stock, ETF, and option trades, was $6.95 per trade, to be effective 10/03/19. $AMTD PR link.

E*Trade(PBR750) to eliminate retail commissions for online US listed stock, ETF, and options trades, effective 10/07/19. $ETFC PR link.

The Cheesecake Factory(PBR840) completes $308 million cash plus an additional $45 million due over the next four years acquisition of Phoenix, AZ based Fox Restaurant Concepts and the remaining interest in North Italia. $CAKE PR link.

Splunk(PBR922) completes $1.05 billion 60% cash and 40% stock acquisition of SignalFx, an SaaS provider in real-time monitoring and metrics for cloud infrastructure, microservices and applications. $SPLK PR link.

GoPro(PBR992) announces $399 HERO8 Black and its performance-expanding $49.99-$79.99 Mods, along with $499 MAX, the company’s new dual-lens camera. $GPRO PR link.

ADP(PBR220) says the US Preliminary September 2019 Change in NonFarm Private Employment was at +135,000, August 2019 was +157,000, July 2019 +143,000, September 2018 +199,000; the Goods Producing Sector was +8,000, Services Sector +127,000. $ADP PR link.

Automotive News reports US September 2019 New Light Vehicle Sales were at 1,268,871, -12.0% from September 2018, Average Transaction Price is $34,709, +2.0% from September 2018, Average Loan Rate at 5.7%, September 2018 was at 5.8%. Automotive News PR link.

Salesforce(PBR237) forecasts record $136 billion in US online sales, a 13% increase over 2018, and $768 billion globally despite shortened holiday season. $CRM PR link.

***Tuesday, October 1

Ford(PBR12) forms a joint venture with Mahindra & Mahindra that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in high-growth emerging markets around the world. $F PR link.

Ford(PBR12) to take a material impairment charge of $800 million to $900 million related to fixed assets in its India Automotive operations, will be reflected in 3Q19 statements, will not result in any cash expenditures. $F PR link.

GE(PBR20) Chairman/CEO Larry Culp does a Q&A reviewing his 1st year at GE. $GE PR link.

CBRE(PBR142)’s Trammell Crow unit completes $4.41/share, $336.9 million cash acquisition of London, UK based multifamily residential properties developer with $1.66 billion in projects in the pipeline Telford Homes Plc (AIM:TEF). $CBRE PR link.

Ameriprise(PBR244) completes sale of De Pere, WI-based Ameriprise Auto & Home to Madison, WI-based American Family Insurance for approximately $1.135 billion in cash. $AMP PR link.

Bausch Health(PBR359) has filed a lawsuit against Sandoz Inc., a Novartis division, alleging patent infringement of 14 patents by Sandoz’s filing of its Abbreviated New Drug Application (ANDA) for XIFAXAN® (rifaximin) 550 mg tablets. $BHC PR link.

Mattel(PBR562) in partnership with the Natl Federation of the Blind introduces card game UNO Braille, enables blind and sighted to play together, retails for $9.99. $MAT PR link.

Boston Properties(PBR777) to own 55% and joint venture partner Canada Pension Plan Investment Board 45% for development of Platform 16, a 1.1 million sf Class A urban office campus on 5.4 acres near Diridon Station in downtown San Jose, CA. $BXP PR link.

Superior Energy(PBR873) authorizes up to $15 million share repurchase program, expires 03/31/20. $SPNV PR link.

SL Green Realty(PBR984) to sell 220 East 42nd Street, a 37 story art-deco building also known as The News Building, in Midtown Manhattan for $815.0 million, or approximately $715 per square foot, to close in 1Q20. $SLG PR link.

The US Dept of Commerce/Census says the US Preliminary August 2019 Annual Rate for Construction-Residential is at $513.5 billion, Non-Residential $773.8 billion, Total $1.287 trillion, +0.1% from July 2019, -1.9% from August 2018. USDOC PR link.

The Institute for Supply Management says the US September 2019 Manufacturing PMI Index(<50=economy contracting) is at 47.8%, August 2019 was at 49.1%, July 2019 51.2%, September 2018 59.8%. “Overall, inputs indicate (1) supply chains are meeting demand and (2) companies are continuing to closely match inventories to new orders. Prices decreased for the fourth consecutive month, but at a slower rate.” ISM PR link.

IHS Markit says the US September 2019 US Manufacturing PMI is at 51.1, August 2019 was at 50.3, July 2019 50.4, September 2018 55.6. “September PMI data indicated a marginally faster rate of improvement in the health of U.S manufacturing, though the overall picture remained one of a stuggling goods producing sector that has suffered its worst quarter since 2009. ” IHS Markit PR link.

The PurdueU/CME Group US September 2019 Ag Barometer Composite Index is at 121, August 2019 was at 124, July 2019 153, September 2018 114. “Although the barometer’s decline was small, there was a relatively large sentiment shift among ag producers as they were noticeably more pessimistic about current conditions on their farms and in the U.S. ag economy , but somewhat more optimistic about future economic conditions, both compared to one month earlier.” PurdueU PR link.

***Monday, September 30

The PBRMarketTools US Stock Exchanges Recap for September ending 09/30/19:

DJIA ends September 2019 at 26,916.83, +0.36% from last Friday, +1.95% MTD, +1.19% QTD, +15.39% YTD, -1.62% from record 27,359.16 set 07/15/19.

NASDAQ ends September at 7,999.34, +0.75% from last Friday, +0.46% MTD, -0.09% QTD, +20.56% YTD, -3.97% from record 8,330.21 set 07/26/19.

SPX ends September at 2,976.74, +0.50% from last Friday, +1.72% MTD, +1.19% QTD, +18.74% YTD, -1.62% from record 3,025.86 set 07/26/19.

The Month 9 of 2019 tally YTD is:
The Stock Market Bull: 7 months
The Stock Market Bear: 2 months
Mixed Results: 0 months

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