December 2017: The Year Ends With A Tax Break Gift
The US federal government passes a tax bill that corporations and consumers should be happy about. A nice way to end 2017.
Here are The PBR1000 corporate and economic related breaking news items of interest with hotlinks to the sources for December 2017, starting with the last active business day.
***Friday, December 29:
The PBRMarketTools US Stock Exchanges Recap for the Year Ending 12/29/17:
DJIA ends 2017 at 24,719.22, -0.14% from last Friday, +1.84% MTD, +10.33% QTD, +25.08% YTD, -0.48% from record 24,837.51 set 12/28/17.
NASDAQ ends 2017 at 6,903.39, -0.81% from last Friday, +0.43% MTD, +6.27% QTD, +28.24% YTD, -1.31% from record 6,994.76 set 12/18/17.
SPX ends 2017 at 2,673.61, -0.36% from last Friday, +0.98% MTD, +6.12% QTD, +19.42% YTD, -0.62% from record 2,690.16 set 12/18/17.
Liberty Interactive(PBR263) completes acquisition of the 62% of shares it doesn’t own of interactive multichannel retailer HSN(PBR609)for $40.36/share, $2.6 billion in all stock deal. $QVCA PR link.
Becton Dickinson(PBR318) completes $317/share, $24 billion cash/stock acquisition of 16,000 employees healthcare devices and therapies provider CR Bard(PBR637). $BDX PR link.
Comerica(PBR740) to increase minimum wage to $15.00/hr, effective 01/05/18, and give one-time $1,000 bonus in 01/18 to 4,500 non-officer colleagues, result of new US tax plan. $CMA PR link.
The US Dept of Treasury says US National Debt on 12/27/17-Public was $14.863 trillion, Intragovernmental $5.628 trillion, Total National Debt $20.491 trillion, -0.4% from 11/29/17, +2.6% from 12/30/16. USTreasury PR link.
The Federal Reserve Bank of Chicago says 7th District Preliminary November Midwest Economic Index is at +0.22, October was -0.11, September -0.13, November 2016 +0.03. ChiFed PR link.
The American Automobile Assn says US Average Price/Gal for Regular Gas was $2.477 on 12/29/17, was $2.495 on 11/30/17, $2.469 on 10/31/17, $2.286 on 12/31/16. AAA PR link.
***Thursday, December 28:
Apple(PBR5) releases statement of apology and provides clarification on battery performance in iPhones, offers $29 price, a $50 discount, for people to upgrade batteries by 12/31/18 on iPhone6 and higher. $AAPL PR link.
Amazon(PBR29 $AMZN) captured 45-50% of e-commerce holiday shopping, up 38% from last year, from its 88 million Prime members, estimates GBH Insights. MarketWatch PR link.
SunTrust Banks(PBR307) to increase minimum wage to $15/hour, adds $50 million to community grants for national/local financial well-being efforts, adds 1% to current matching 6% 401(k) retirement plans, $1,000 bonus for employees completing SunTrust Momentum onUp financial fitness program. $STI PR link.
Avnet(PBR100) hires Tom Liguori as CFO, effective 01/29/18. $AVT PR link.
Old Republic Intl(PBR445) hires Jeffrey Lange as SVP/Underwriting & Distribution of the Old Republic General Insurance Group, of which he also becomes a member of the Office of the CEO, both effective 01/02/18. $ORI PR link.
The US Dept of Labor says US Initial Unemployment Insurance Claims 4 Week Average Ending 12/23/17 was at 237,750, -1.9% from 11/25/17 report, -9.6% from 12/29/17, Total Insured Unemployment 4 Week Moving Average Ending 12/16/17 was 1,919,750, +0.5% from 11/25/17 report, -6.0% from 12/29/17, Insured Unemployment Rate at 1.4%. USDOL PR link.
The US Energy Information Administrationsays US Crude Oil Stocks were at 431.9 Millions of Barrels on 12/22/17, -4.8% from 11/24/17, -11.2% from 12/31/16. USEIA PR link.
The US Dept of Commerce says US Revised 3Q17 Net International Investment Positionwas US Assets of $26.895 trillion, US Liabilitiesof $34.624 trillion, for Deficit Balance of $7.769 trillion. USDOC PR link.
FreddieMac(PBR41) says US 30 Year Fixed Mortgage Rate On 12/28/17 Average was 3.99% with 0.5 points/fees, 11/30/17 was 3.90%, 10/26/17 3.94%, 12/29/16 4.32%. $FMCC PR link.
The MNI December Chicago Business Barometer(>50=Gaining) is at 67.6, highest since March 2011, November was 63.9, October 66.2, December 2016 53.9. ISM Chicago-MNI PR link.
***Wednesday, December 27:
Dollar General(PBR151) to open 17th distribution center, nearly 1 million sf, located in Longview, TX, contruction to start early 2018, to employ 400 at full capacity. $DG PR link.
KKR(PBR332) to acquire Westport, CT, based acquirer and operator of general practice and specialty veterinary hospitals with 125 facilities located across 22 states PetVet Care Centersfrom Ontario Teachers’ Pension Plan, terms not disclosed. $KKR PR link.
Qualcomm(PBR106) to promote Cristiano R. Amon to corporate President, effective 01/04/18, will continue to also be lead for QCT business unit. $QCOM PR link.
The Conference Board says US Preliminary December Consumer Confidence Index(1985=100) is at 122.1, November was 128.6, October 126.2, December 2016 113.3. TCB PR link.
***Tuesday, December 26:
Amazon(PBR29) says more than 4,000,000 people trialed Prime in one week alone this season, Echo Dot and Fire TV Stick with Alexa Voice Remote were the #1 and #2 top-selling products across all categories. $AMZN PR link.
Capital One(PBR116) reduces share repurchase program to up to $1.0 billion from up to $1.85 billion, expires 06/30/18, cites new short term tax act legislation as reason. $COF PR link.
NGL Energy(PBR207) completes $300 million sale of its 50% Interest in Glass Mountain Pipeline to an affiliate of BlackRock(PBR252)’s Global Energy and Power Infrastructure Fund. $NGL PR link.
Hubbell(PBR632) to acquire global supplier of smart infrastructure solutions to water, gas, and electric utilities Aclara Technologies, an affiliate of Sun Capital Partners, for $1.1 billion, to close 1Q18. $HUBB PR link.
SemGroup(PBR866) completes $300 million sale of its 50% interest in Glass Mountain Pipeline to an affiliate of BlackRock(PBR252)’s Global Energy and Power Infrastructure Fundin partnership with Navigator Energy Services. $SEMG PR link.
The Federal Reserve Bank of Richmond says US Fifth District December Annualized Manufacturing Index is at +20%, Novemberwas +30%, October +12%, December 2016+7%. RichmondFed PR link.
The Federal Reserve Bank of Richmond says US Fifth District December Annualized Service Sector Revenue Index is at +25%, November was +30%, October +24%, December 2016 +9%. RichmondFed PR link.
The S&P CoreLogic Case-Shiller US October Natl Home Price NSA Index(01/2000=100) is at 195.63, September was 195.31, August194.77, October 2016 184.26. S&P CoreLogic Case-Shiller PR link.
Mastercard(PBR291) SpendingPulse reports that 2017 holiday sales increased 4.9%, a new record for dollars spent and largest year-over-year increase since 2011. $MA PR link.
***Monday, December 25:
***Christmas Day.
***US Stock Markets Closed.
***Friday, December 22:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/22/17:
DJIA ends at 24,754.06, +0.42% from last Friday, +1.98% MTD, +10.48% QTD, +25.26% YTD, -0.15% from record 24,792.20 set 12/18/17.
NASDAQ ends at 6,959,96, +0.34% from last Friday, +1.25% MTD, +7.14% QTD, +29.29% YTD, -0.50% from record 6,994.76 set 12/18/17.
SPX ends at 2,683.34, +0.28% from last Friday, +1.35% MTD, +6.51% QTD, +19.85% YTD, -0.25% from record 2,690.16 set 12/18/17.
Amazon(PBR29 $AMZN) acquires wire-free video home security cameras and monitoring systems startup Blink, terms not disclosed. Blink PR link.
Merck(PBR70)/Pfizer(PBR56 $PFE) worldwide collaboration gets US FDA approval for STEGLATROTM (ertugliflozin) and the fixed-dose combination STEGLUJAN™ (ertugliflozin and sitagliptin) for treatment of type 2 diabetes. $MRK PR link.
PNC Financial(PBR189), as a result of tax reform bill signing, to provide for employees in the defined benefit pension plan an additional $1,500 to their existing pension accounts, provide a $1,000 cash payment to approximately 47,500 employees in 1Q18, raise minimum pay rate to $15/hour by the end of 2018, make a $200 million contribution to the PNC Foundation. $PNC PR link.
Hess(PBR248) completes $2 billion sale of its oil and gas interests in Norway to Aker BP ASA, effective 01/01/18. $HES PR link.
BB&T(PBR277), as result of tax reform signing, to raise minimum hourly wage from $12 to $15/hour, provide a one-time $1,200 bonus to almost 27,000 employees, donate $100 million to its philanthropic fund. $BBT PR link.
Caesars Entertainment(PBR314) completes sale of real estate assets of Harrah’s Las Vegasto VICI Properties for $1.14 billion cash, does leaseback, and acquires adjacent land from VICI to develop a planned new 300,000 sf convention center. $CZR PR link.
Becton Dickinson(PBR318) $317/share, $24 billion cashstock acquisition of CR Bard(PBR637) gets Federal Trade Commission approval, based on some conditions, expects to close in 12/17. $BDX PR link.
Vulcan Materials(PBR685) gets agreement with conditions from US Dept of Justice to acquire 31 Southern aggregates facilities Aggregates USA from SPO Partners for $900 million, expects to close 12/29/17. $VMC PR link.
Legg Mason(PBR709) to do accelerated stock purchase of $40.50/share, $225.5 million, with Shanda Asset Management Investment, no other repurchases to be made until 4Q18. $LM PR link.
First Horizon National(PBR953) to distribute $1,000 bonuses after 1st of year to non-participating company bonus plan employees, based on good year and passing of new tax reform legislation. $FHN PR link.
CSX(PBR226) board names acting President/CEO Jim Foote to be President/CEO immediately, succeeds E. Hunter Harrison who died unexpectedly on 12/16/17. $CSX PR link.
Qualcomm(PBR106) board unanimously rejects all 11 director nominees assembled by Broadcom(NASDAQ: AVGO) and Silver Lake Partners, pushes for election of current directors at next annual meeting. $QCOM PR link.
PSEG(PBR257) elects Barry H. Ostrowsky, President/CEO of RWJBarnabas Health, to the Board, effective 02/20/18. $PEG PR link.
The US Dept of Commerce/BEA says US Preliminary Navember Total Personal Income Annual Rate is at $16.629 trillion, +0.3% from October, +3.8% from November 2016; Personal Savings Rate at 2.9%, Effective Tax Rate 12.4%. USDOC PR link.
The US Dept of Commerce/HUD says US Preliminary November New Family Homes Sold Annual Rate is at 733,000, +17.5% from October, +26.6% from November 2016, November Median Price is at $318,700, -0.3% from October, +1.2% from November 2016. USDOC PR link.
The University of Michigan US Final December Consumer Sentiment Index is at 95.9, November was 98.5, October 100.7, December 2016 98.2. UMich PR link.
***Thursday, December 21:
Anthem(PBR38) completes acquisition of Florida based 40,000 members Medicare Advantage health plans and healthcare delivery networks provider HealthSun, terms not disclosed. $ANTM PR link.
ConAgra(PBR166) to acquire $60 million/2017 frozen breakfast and entrée flatbread sandwiches provider Sandwich Bros. of Wisconsin® business, terms not disclosed. $CAG PR link.
Facebook(PBR228 $FB) and Universal Music Group agree to a global, multi-year agreement under which UMG becomes the first major music company to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus. UMG PR link.
Voya Financial(PBR253) to sell closed block variable annuity and fixed and fixed indexed annuities businesses to consortium led by Apollo Global Mgmt(PBR906), deal valued at $1.1 billion; Voya to repurchase $1 billion of common stock by 06/30/18. $VOYA PR link.
Celgene(PBR347) reports Phase III study of REVLIMID® says it did not achieve superiority in some specific follicular lymphoma cancers. $CELG PR link.
NCR(PBR383) completes sale of remaining Interactive Printer Solutions division assets, located in Middle East/Africa, to group led by Turbon AG, terms not disclosed. $NCR PR link.
Rush Enterprises(PBR505) to provide $1,000 discretionary bonus to its 6,600 US employees when President Trump signs tax reform bill. $RUSHA PR link.
TransDigm(PBR810) to divest the SCHROTH Safety Products acquired on 02/22/17 to its management and Perusa GmbH per agreement with US Dept of Justice. $TDG PR link.
Modine Manufacturing(PBR985) VP/Vehicular Thermal Solutions Holger Schwab so leave by end of 4QFY18 for a non-directly competing company. $MOD PR link.
Alphabet(PBR44) Executive Chairman Eric Schmidt at 01/18 regular board meeting will step down to become a technical advisor for the company, will remain a board member. $GOOG PR link.
Hartford Financial(PBR152) appoints Carlos Dominguez, former senior executive at Cisco(PBR60), to the Board, effective 02/21/18. $HIG PR link.
Rent A Center(PBR657) stockholders to vote at annual meeting on proposal to move to annual election of all members of the Board, currently members serve 3 years. $RCII PR link.
The US Dept of Commerce says US 3rd Estimate 3Q17 Gross Domestic Product is at +3.2%, $19,501 trillion, +1.3% from 2Q17, +4.1% from 3Q16. USDOC PR link.
The Federal Reserve Bank of Chicago says the US Preliminary November National Activity Index is at +0.15, October was +0.76, September +0.31, November 2016 -0.16. ChiFed PR link.
The Federal Reserve Bank of Philadelphia December Manufacturing General Activity Indicator is at +26.2, November was +22.7, October +27.9, November 2016 +8.7. PhillyFed PR link.
The Conference Board says US Preliminary November Leading Economic Index(2010=100) is at 130.9, October was 130.5, September 129.3, November 2016124.4. TCB PR link.
***Wednesday, December 20:
AT&T(PBR12), with passage of new US tax bill, to increase capital spending by $1 billion, provide $1,000 special bonus to its 200,000+ US employees. $T PR link.
Amazon(PBR29) Fire TV now supports Mozilla Firefox and Amazon Silk internet browsers in over 100 countries. $AMZN PR link.
Wells Fargo(PBR30) raises team member minimum hourly rate from $13.50 to $15.00, effective 03/18, target $400 million in 2018 for philanthropic contributions. $WFC PR link.
Freddie Mac(PBR41 $FMCC) and Fannie Mae(PBR17 $FNMA) to maintain $3 billion capital reserve per conservator statement by Federal Housing Finance Agency. FHFA PR link.
Comcast(PBR42) to give 100,000+ US employees a special $1,000 bonus and expects to spend $50+ billion over the next five years investing in infrastructure, a result of new tax reform law and net neutrality changes. $CMCSA PR link.
PG&E(PBR172) suspends quarterly dividend, cites uncertainty related to causes and potential liabilities associated with the extraordinary October 2017 Northern California wildfires. $PCG PR link.
Bristol-Myers Squibb(PBR185) gets US FDA approval for Opdivo (nivolumab) as adjuvant therapy in patients with completely resected melanoma with lymph node involvement or metastatic disease. $BMY PR link.
Fifth Third Bancorp(PBR387) in response to new US tax legislation raises minimum wage to $15/hour, to give 13,500+ employees one time special bonus of $1,000. $FITB PR link.
Diplomat Pharmacy(PBR515) completes $515 million cash plus $80 million in stock acquisition of $388 million in revenues/year St Louis, MO, based full-service pharmacy benefit manager LDI Integrated Pharmacy Services. $DPLO PR link.
Boyd Gaming(PBR727) to expand into Pennsylvania with acquisition of King of Prussia based Valley Forge Casino Resortfrom Valley Forge Convention Center Partnersfor $280.5 million cash. $BYD PR link.
Cabot Oil & Gas(PBR857) to sell Eagle Ford Shale assets to Venado Oil & Gas affiliate for $765 million, to close by end of 1H18. $COG PR link.
Scientific Games(PBR937) $631 million acquisition of NYX Gaming Group(TSXV: NYX)gets NYX shareholders approval, to close early 01/18. $SGMS PR link.
M&T Bank(PBR504) former CFO Rene Jones is appointed Chairman/CEO, succeeds Robert Wilmer who died unexpectedly; Vice Chairman/Chief Risk Officer Richard S. Gold named President/COO. $MTB PR link.
Delta(PBR72) promotes Chief Information Officer Rahul Samant to EVP, effective 01/01/18. $DAL PR link.
CommScope(PBR482) Chief Technology Officer Morgan Kurk to be promoted to EVP/COO on 01/01/18, succeeds retiring Randy Crenshaw. $COMM PR link.
The Natl Assn of Realtors says US November Existing Home Sales Annual Rate is at 5,810,000, +5.6% from October, +3.8% from November 2016, Median Price is $248,000, +0.4% from October, +5.8% from November 2016, Median Time On Market was 40 days, October was 34 days, November 2016 43 days. NAR PR link.
***Tuesday, December 19:
UPS(PBR47) pre-orders 125 Tesla(PBR651 $TSLA) Semi fully-electric tractors. $UPS PR link.
Pfizer(PBR56) gets US FDA approval for BOSULIF® (bosutinib) to include adult patients with newly-diagnosed chronic phase Philadelphia chromosome-positive chronic myelogenous leukemia (Ph+ CML). $PFE PR link.
Tenet Healthcare(PBR161) to make decision on potential sale of its hospital and physician revenue cycle management business process services unit Conifer Health Solutions in 1H18, provides updated 2018 outlook. $THC PR link.
Starbucks(PBR178) opens its 25th store in Puerto Rico, 1st since Hurricane Maria. $SBUX PR link.
Crown Holdings(PBR298) to acquire $2.3 billion/year global provider of transit packaging systems Signode Industrial Group Holdingsfrom The Carlyle Group(PBR581 $CG) for $3.91 billion cash, to close in 1Q18. $CCK PR link.
Avis Budget(PBR316) is now the exclusive car rental partner of Hawaiian Airlines(PBR820). $CAR PR link.
Live Nation(PBR366) acquires interest in 9,000 seat amphitheater Bank of New Hampshire Pavilion (formerly Meadowbrook) in Gilford, NH, terms not disclosed. $LYV PR link.
Kindred Healthcare(PBR479) to be acquired by by a consortium of TPG Capital, Welsh, Carson, Anderson & Stowe and Humana(PBR58 $HUM) for $9.00/share, $4.1 billion cash, includes debt, to close in summer 2018. $KND PR link.
Alliant Energy(PBR634) to acquire 170-megawatt project English Farms Wind Farm, located in Poweshiek County in central Iowa, from developer Tradewind Energy, construction to start in 2018, 69 turbines to power 50,000 homes, terms not disclosed. $LNT PR link.
PerkinElmer(PBR839) completes $1.3 billion cash acquisition of Germany based 2,400 employee $310 million/2017 global autoimmune/infectious disease/allergy testing provider EUROIMMUN Medical Laboratory Diagnostics AG. $PKI PR link.
Jack in the Box(PBR987) to sell its wholly owned subsidiary Qdoba Restaurant, with its 700+ QDOBA MEXICAN EATS® company operated and franchisee restaurants, to Apollo Global Mgmt(PBR906 $APO) for approximately $305 million cash, expects to close in 04/18. $JACK PR link.
Medtronic(PBR133) SVP & President/Asia Pacific Bob White appointed EVP & President/Minimally Invasive Therapies Group, succeeds departed Bryan Hanson. $MDT PR link.
Arconic(PBR215) appoints Dave Miller, a Senior Portfolio Manager at Elliott Management, to the Board, replaces Patrice Merrin, who has voluntarily stepped down. $ARNC PR link.
Huntsman(PBR244) elects Peter R. Huntsman as Chairman, effective 01/01/18, succeeds Founder/Executive Chairman Jon Huntsman who becomes Chairman Emeritus and continues to serve on Board. $HUN PR link.
The US Dept of Commerce/HUD says US Preliminary November Total Private Housing Permits Issued Annual Rate is at 1,298,000, -1.4% from October, +3.4% from November 2016. USDOC PR link.
S&P Global Risk Insight: 2017 Retail Bankruptcies Set Record Pace – Which Companies Are Most At Risk? S&P Global PR link.
***Monday, December 18:
Amazon(PBR29) 2nd Annual Digital Day to be on Friday, 12/29/17, over 5,000 deals in 8 categories, up to 80% off. $AMZN PR link.
Pfizer(PBR56) authorizes new $10 billion share repurchase program, is in addition to $6.4 billion remaining under current authorization. $PFE PR link.
Oracle(PBR78) to acquire Australia based cloud based team collaboration for construction projects used by 70,000 user organizations in over 70 countries developer Aconex(ASX: ACX)for $1.2 billion, to close 1H18. $ORCL PR link.
Colgate-Palmolive(PBR168) to acquire $100 million/year combined professional skin care providers PCA Skin and EltaMD, to close 1Q18, terms not disclosed. $CL PR link.
AES Corp(PBR171) to sell entire 51% equity interest in Masin-AES Pte. Ltd., a subsidiary of AES that owns AES’ business interests in the Philippines, to SMC Global Power for $1.05 billion. $AES PR link.
Carnival Corp(PBR184) partners with Univision Communications to develop the first O·C·E·A·N primetime series, to air starting 01/07/18, ‘La Gran Sorpresa’ (The Great Surprise) uses the power of travel to reunite families as they overcome hardships, oriented towards Hispanic America. $CCL PR link.
Jacobs Engineering(PBR225) completes $3.27 billion cash/stock acquisition of $4.4 billion/last 12 months, 20,000+ employees Englewood, CO, based global design, engineering and program management firm CH2M. $JEC PR link.
Henry Schein(PBR270) has acquired 900 customers cloud-based practice management solutions to veterinary clinics provider eVetPractice, terms not disclosed. $HSIC PR link.
Campbell Soup(PBR326) to acquire Charlotte, NC, based $2.2 billion/year 6,000 employees, 13 manufacturing facilities in US & UK snacks provider Snyder’s-Lance(NASDAQ: LNCE) for $50.00/share, $4.87 billion cash. $CPB PR link.
Hershey(PBR354) to acquire Amplify Snack Brands(NYSE:BETR), provider of Skinny Pop, Tyrrells, Oatmega, Paqui and other international brands, for $12.00/share, $1.6 billion. $HSY PR link.
Celanese(PBR369) to acquire Evansville, IN, based thermoplastics custom compounder Omni Plastics and its subsidiaries, including the distributor Resinal de Mexico, terms not disclosed. $CE PR link.
TEGNA(PBR622) to acquire Midwest Television‘s broadcasting stations in San Diego, CA, KFMB-TV(CBS), KFMB-D2 (CW) and radio stations KFMB-AM/FM, for $325 million cash, to close 1Q18. $TGNA PR link.
Penn Natl Gaming(PBR750) to acquire owner/operator of 16 gaming and entertainment facilities Pinnacle Entertainment(NASDAQ:PNK) for $32.47/share, $2.8 billion cash/stock, to close 2H18, Penn to sell 4 Pinnacle facilities to Boyd Gaming(PBR727) for $575 million. $PENN PR link.
TSYS(PBR790) to acquire technology led acquiring services to more than 70,000 merchants and 100+ integrated partners in the US provider Cayan from Parthenon Capital Partners for $1.05 billion cash. $TSS PR link.
McDermott Intl(PBR825) and CB&I (NYSE:CBI) (Chicago Bridge & Iron) to merge in $6 billion stock deal, headquarters to be in Houston, TX, to close 2Q18. $MDR PR link.
CSX(PBR226) CEO E. Hunter Harrison dies unexpectedly on 12/16/17 from severe complications from a recent illness. $CSX PR link.
M&T Bank(PBR504) Chairman/CEO Robert Wilmer dies suddenly and unexpectedly on 12/17/17, was 83. Director Robert T. Brady, former Chairman and CEO of Moog(PBR737), named M&T’s Non-Executive Chairman, effective immediately. M&T’s three Vice Chairmen, Richard S. Gold, René F. Jones and Kevin J. Pearson, maintain responsibility for the bank’s day-to-day operations. $MTB PR link.
McKesson(PBR6) EVP/CFO James Beer to leave company, SVP & CFO of US Pharmaceutical and McKesson Specialty Health Britt Vitalone to be EVP/CFO, effective 01/01/18. $MCK PR link.
Walt Disney(PBR57)’s ESPN President & Co-Chairman of Disney Media Networks John Skipper resigns for personal reasons, former ESPN President/Executive Chairman George Bodenheimer to be Acting Chairman for next 90 days while Disney CEO Bob Iger finds successor. $DIS PR link.
Travelers Cos(PBR104) President/COO Brian MacLean to retire from company after 30 years, effective 03/31/18. $TRV PR link.
Allergan(PBR219) promotes Wayne Swanton to EVP/Global Operations following announcement that EVP/COO Rob Stewart is leaving to become President/CEO of Amneal Pharmaceuticals in 2018. $AGN PR link.
Cedar Fair(PBR977) hires Tim Fisher as COO, succeeds Richard Zimmer who will become CEO on 01/01/18. $FUN PR link.
AGNC Investment(PBR992) EVP/CFO Peter J. Federico to become President/COO, SVP/Chief Accounting Officer Bernice E. Bell to become EVP/CFO, effective 03/31/18. $AGNC PR link.
Whirlpool(PBR138) appoints James M. Loree, President/CEO of Stanley Black & Decker(PBR249), to the Board. $WHR PR link.
Insperity(PBR814) appoints Randall Mehl, President of Stewardship Capital Advisors, to the Board. $NSP PR link.
The Natl Home Builders Assn/Wells Fargo US Preliminary December Composite Housing Market Survey Index is at 74, November was 69, October 68, December 2016 69. NAHB PR link.
***Friday, December 15:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/15/17:
DJIA ends at record 24,651.74, +1.33% from last Friday, +1.56% MTD, +10.03% QTD, +24.74% YTD, +0.00% from record 24,651.74 set 12/15/17.
NASDAQ ends at record 6,936.58, +1.41% from last Friday, +0.91% MTD, +6.78% QTD, +28.86% YTD, +0.00% from record 6,936.58 set 12/15/17.
SPX ends at record 2,675.81, +0.92% from last Friday, +1.07% MTD, +6.21% QTD, +19.52% YTD, +0.00% from record 2,675.81 set 12/15/17.
Kroger(PBR20) adds its Prep+Pared Meal Kitsto four new divisions: Central, Columbus, Fry’s and Nashville, joining Cincinnati, Louisville and Ralphs. Cooking time 20 minutes, for 2 adults, $14-$20, no subscription required. $KR PR link.
Marathon Petroleum(PBR23) to exchange its general partner economic interests in MPLX LP (NYSE: MPLX), which include incentive distribution rights for 275 million newly issued MPLX common units valued at approximately $10.1 billion. $MPC PR link.
Reno, NV, based Aerion Corporation and Lockheed(PBR64) join forces to develop world’s first supersonic business jet, the AS2. $LMT PR link.
Qualcomm(PBR106) extends cash tender offer to acquire Netherlands based NXP Semiconductors NV(NASDAQ: NXPI) for $110.00/share, $47 billion cash to 01/12/18. $QCOM PR link.
Kellogg(PBR198) authorizes up to $1.5 billion share repurchase program from 01/01/18 to 12/31/19. $K PR link.
Calpine Corp(PBR330), America’s largest generator of electricity from natural gas and geothermal resources, stockholders approve $15.25/share, $5.6 billion cash acquisition by Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board, to be completed in 1Q18. $CPN PR link.
KKR(PBR332) to acquire European based Unilever‘s global Spreads business for around $8.1 billion. $KKR PR link.
TechnipFMC(PBR334) gets notice that Credit Agricole/Amundi SA now own 5.2%+ of voting shares. $FTI PR link.
Noble Energy(PBR471) to receive $305 million cash from CNX Resources(NYSE: CNX) in divestiture of its 50 percent interest in CONE Gathering. $NBL PR link.
Michael Kors(PBR519) to no longer use animal fur in its products, with production being phased out by the end 2018. $KORS PR link.
Public Storage(PBR848) adds over 1 million sf of storage space in Houston area in 2017. $PSA PR link.
Express Scripts(PBR860) completes $3.6 billion acquisition of privately-held evidence-based medical benefit management services provider eviCore healthcare. $ESRX PR link.
Apollo Global Mgmt(PBR906) to acquire 2,100 employees in 34 locations on 4 continents slag handling, metal reclamation, and other complementary services for steel mills provider Phoenix Services, terms not disclosed. $APO PR link.
Hexcel(PBR921) completes the acquisition of high-performance thermoplastic, carbon fiber reinforced 3D printed parts developer Commercial Aerospace & Defense business of Oxford Performance Materials, terms not disclosed. $HXL PR link.
Wabash Natl(PBR917) CEO Dick Giromini to step down 06/01/18, serve as Executive Advisor through 06/01/19, President/COO Brent Yeagy named successor, effective 06/02/18. $WNC PR link.
Performance Food(PBR157) CFO Tom Ondrof to transition to newly created role of Strategic Growth Leader, Jim Hope to be successor, effective 03/01/18. $PFGC PR link.
Proctor & Gamble(PBR33) announces certified director election results, all 11 of P&G’s Directors elected, and appoints activist investor Nelson Peltz, CEO and founding partner of Trian Fund Management, and Joseph Jimenez, CEO of Novartis, to the Board, effective 03/01/18. $PG PR link.
Arrow Electronics(PBR120) appoints Steven H. Gunby, President/CEO of FTI Consulting(PBR941), to the Board. Separately, after 20 years of service, John N. Hanson has retired from the Board. $ARW PR link.
Kennametal(PBR706) elects Joseph Alvarado, currently Chairman of Commercial Metals(PBR362) and will retire in January 2018, to the Board, effective 01/01/18. $KMT PR link.
Wabash Natl(PBR917) appoints John G. (“Jack”) Boss, President/CEO of Momentive Performance Materials, to the Board. $WNC PR link.
The US Dept of Labor says US 3Q17 Total Wages/Salaries per Hour for All Workers Averaged $24.33, Benefits $11.31, Total$35.64, +1.0% from 2Q17, +4.4% from 3Q16. USDOL PR link.
The US Federal Reserve says US Preliminary November Industrial Production Index(2012=100) is at 106.4, October was 106.1, September 104.9, November 2016102.9; November Industrial Production % of Capacity was 77.1%, October 77.0%, September 76.2%, November 2016 75.5%. USFed PR link.
The Federal Reserve Bank of New York December Empire State Manufacturing General Business Conditions Index is at +18, November was +19.4, October +30.2, December 2016 +7.6. NYFed PR link.
***Thursday, December 14:
Verizon(PBR15) completes $225 million acquisition of fiber-optic network assets serving the Chicago market from Englewood, CO, based WideOpenWest(NYSE: WOW). $VZ PR link.
Amazon(PBR29 $AMZN) again selling streaming devices Apple(PBR5 $AAPL) TV and Alphabet(PBR44 $GOOG)’s Google Chromecast. MarketWatch PR link.
Pfizer(PBR56) gets US FDA approval for XELJANZ® (tofacitinib) and XELJANZ® XR for the treatment of active psoriatic arthritis. $PFE PR link.
Walt Disney(PBR57) to acquire 21st Century Fox(PBR91 $FOX), after spinoff of Fox Broadcasting, Fox News, Fox Business, FS1, FS2, and Big Ten Network to its shareholders, for $52.4 billion in stock, includes $13.7 billion net debt, Disney Chairman/CEO Bob Iger agrees to stay on through 12/31/21, transaction to close by 06/30/18. $DIS PR link.
Humana(PBR58) authorizes $3 billion share repurchase program, expires 12/31/20. $HUM PR link.
Cigna(PBR85) acquires SaaS digital health plan platform and engagement services software developer Brighter, terms not disclosed. $CI PR link.
Sears(PBR93) celebrates 50th anniversary of Diehard brand by launching its product line on Amazon(PBR29). $SHLD PR link.
PPG(PBR190) authorizes $2.5 billion share repurchase program, no expiration date, is in addition to current program which has $1.4 billion remaining. $PPG PR link.
Waste Management(PBR206) authorizes $1.25 billion share repurchase program. $WM PR link.
Hess(PBR248 $HES) major stockholder Elliott Management seeks to ouster Chairman/CEO John Hess. MarketWatch PR link.
Cognizant(PBR272) acquires $300 million of its Class A Common Stock, 3.58 million shares, from Barclays Bank PLC, first phase of anticipated $1.2 billion share repurchases by end of 2018. $CTSH PR link.
Ryder(PBR378) to repurchase up to 1.5 million shares(closed at $81.07/share on 12/14/17) by 12/13/19, replaces previous program which has expired. $R PR link.
Wynn Resorts(PBR427) to purchase 38 acres of land directly across from Wynn Las Vegas for $336 million, site of former New Frontier & Alon Resort. $WYNN PR link.
Albemarle(PBR792) to sell polyolefin catalysts and components business to W. R. Grace(PBR645) for around $416 million. $ALB PR link.
Apollo Global Mgmt(PBR906) to acquire Minnesota based largest privately-held fully independent airline in the US serving 2.5 million passengers/year Sun Country Airlines, terms not disclosed. $APO PR link.
Scientific Games(PBR937) Interactive unit enters Italian market with 11 titles. $SGMS PR link.
Take-Two Interactive(PBR956) forms Private Division™, a developer-focused publisher for independent studios. $TTWO PR link.
CSX(PBR226) President/CEO E. Hunter Harrison(hired 03/17) goes on medical leave, EVP/COO James Foote named acting CEO. $CSX PR link.
MSA Safety(PBR996) Chairman/CEO William Lambert to retire as CEO in 05/18, President/COO Nishan J. Vartanian elected to the Board, to be successor. $MSA PR link.
Cisco(PBR60) SVP/Operations Rebecca Jacoby to retire 01/27/18 after 22 years with company, SVP/Asia Pacific & Japan Irving Tan to be successor in newly created position of SVP/Operations & Digital; EVP/Worldwide Sales & Field Operations Chris Dedicoat to leave role on 07/28/18, will be senior advisor to Chairman/CEO Chuck Robbins. $CSCO PR link.
EOG Resources(PBR159) promotes Lloyd W. “Billy” Helms, Jr. to COO, succeeds Gary Thomas who will retain President role until retirement by 2018 yearend; Ezra Y. Yacob to succeed Helms as EVP/Exploration and Production. $EOG PR link.
Chico’s FAS(PBR730) hires David Pastrana as President, White House Black Market brand, effective 01/10/18, succeeds departing Donna Colaco. $CHS PR link.
New York Times(PBR971) Chairman/Publisher Arthur O. Sulzberger, Jr., to retire from Publisher role on 12/31/17, A.G. Sulzberger to be named Publisher, is elected to the Board. $NYT PR link.
Bank of America(PBR24) appoints Dr. Maria Zuber, E. A. Griswold Professor of Geophysics and the vice president for research at Massachusetts Institute of Technology, to the Board. $BAC PR link.
Cognizant(PBR272) appoints Joseph M. Velli, former SEVP of The Bank of New York(now BNY Mellon), to the Board. $CTSH PR link.
The US Federal Reserve says US 3Q17 Networth of Households/Non-Profits was $96.939 trillion, +1.8% from 2Q17, +8.0% from 3Q16. USFed PR link.
The US Dept of Labor says US Preliminary November All Imports Price Index was +0.7%, Exports +0.5%, both +3.1% Year-to-Year. USDOL PR link.
The US Dept of Commerce/Census says US Preliminary October Total Manufacturing/Retail/Wholesaler Sales were $1.401 trillion, +0.6% from September, +6.5% from October 2016. USDOC PR link.
The US Dept of Commerce/Census says US Advance November Total Retail Sales were $492.7 billion, +0.8% from October, +5.8% from November 2016. USDOC PR link.
***Wednesday, December 13:
Target(PBR40) to acquire Birmingham, AL, based online same-day delivery platform Shiptfor $550 million cash, to start in half of stores in early 2018. $TGT PR link.
Altice USA(NYSE: ATUS), Charter Communications(PBR297) and Comcast(PBR42) to form a new Interconnect in early 2Q18 in the New York market that will provide a one-stop TV/digital advertising solution to reach more than 6.2 million households across the New York DMA, largest in the US. $ATUS PR link.
T-Mobile(PBR95) to acquire TV technology innovator Layer3 TV to create T-Mobile’s new TV service in 2018, terms not disclosed. $TMUS PR link.
Pfizer(PBR56) gets US FDA approval for IXIFI, a biosimilar for Remicade® (infliximab), as a treatment for patients with rheumatoid arthritis, Crohn’s disease, pediatric Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis. $PFE PR link.
Jacobs Engineering(PBR225) $3.27 billion cash/stock acquisition of $4.4 billion/last 12 months, 20,000+ employees Englewood, CO, based global design, engineering and program management firm CH2M gets CH2M shareholders approval. $JEC PR link.
LandStar(PBR653) increases share repurchase program to 3,000,000 shares, (around $300 million). $LSTR PR link.
Adtalem Education(PBR905) has completed move of corporate headquarters from Downers Grove, IL, into downtown Chicago, 150+ employees at new location. $ATGE PR link.
YRC Worldwide(PBR472) CEO James Welch to retire on 07/31/18. YRC Freight President Darren Hawkins to assume transitional role of President/COO, Reddaway President TJ O’Connor will become President of YRC Freight, and Reddaway VP/Operations Bob Stone to become Reddaway President, all on 01/01/18. $YRCW PR link.
Diebold Nixdorf(PBR676) President/CEO Andy Mattes resigns, Office of the Executive to be lead by SVP/CFO Christopher Chapman and SVP/COO Juergen Wunram who serve as Interim Co-Presidents/Co-CEOs until successor named. $DBD PR link.
KeyCorp(PBR544) Chief Risk Officer Bill Hartmann to retire in mid 2018, Mark Midkiff hired to be new Chief Risk Officer on 01/22/18. $KEY PR link.
ServiceMaster(PBR704) hires Pratip Dastidar as SVP/Chief Transformation Officer. $SERV PR link.
Pier 1 Imports(PBR916) hires William H. Savage for new position of EVP/Global Sourcing. $PIR PR link.
Community Health Systems(PBR125) elects Michael Dinkins and K. Ranga Krishnan to the Board. $CYH PR link.
Molina Healthcare(PBR284) director Dr. J. Mario Molina, son of late founder Dr. C. David Molina, resigns from the Board. $MOH PR link.
Carlisle Cos(PBR650) elects Jesse Singh, CEO of CPG International and former 3M(PBR92) executive, to the Board. $CSL PR link.
TrueBlue(PBR704) director William Steele retiring from Board effective 12/31/17 after 17 years of service. $TBI PR link.
Sabre Corp(PBR736) elects Hervé Couturier, President of Kerney Partners, to the Board. $SABR PR link.
The Federal Open Market Committee says the labor market has continued to strengthen and that economic activity has been rising at a solid rate, raises federal funds rate by 0.25% to 1.25%-1.50%, forecasts GDP, PCE, Unemployment Rates for 2018-2020. FOMC PR link. FOMC Projections link.
The US Dept of Labor says US Preliminary November Current Average Earnings Per Hour are $26.55, Average Hours Worked Per Week is 34.5, Current Weekly Earnings at $915.98, +0.5% from October, +3.1% from November 2016. USDOL PR link.
The US Dept of Labor says US November Consumer Price Index(aka Inflation Index)was +0.4%, October was +0.1%, September+0.5%, November 2016 +0.2%, Last 12 Months(Unadjusted) is at +2.2%, was +1.7% for 12 Months Ending November 2016. USDOL PR link.
***Tuesday, December 12:
Amazon(PBR29) Web Services unit and Ningxia Western Cloud Data Technology Coopen a 2nd AWS Region in China. $AMZN PR link.
PepsiCo(PBR43 $PEP) confirms order for 100 Tesla(PBR651 $TSLA) Semi trucks. MarketWatch PR link.
Western Digital(PBR194) and Toshiba reach global settlement agreement to resolve their ongoing disputes in litigation and arbitration, extend their relationship, and enhance the mutual commitment to their ongoing flash memory collaboration, clears way for Toshiba Memory acquisition by Bain Capital Equity and affiliates. $WDC PR link.
Allergan(PBR219) gets US FDA clearance for CoolSculpting® treatment to improve appearance of lax tissue In the double chin. $AGN PR link.
Facebook(PBR228) moving to a local selling model for advertising, sales to be recorded in country sold, not at Dublin international headquarters. $FB PR link.
Campbell Soup(PBR326) completes $700 million cash acquisition of $218 million revenues/last 12 months organic broth/soup and shelf-stable plant-based beverages and other meals/sides producer Pacific Foods of Oregon. $CPB PR link.
Trinity Industries(PBR402) to spin-off infrastructure related businesses into separate public company in 2H18. Also authorizes new $500 million share repurchase program starting 01/01/18 through 12/31/19. $TRN PR link.
NVR(PBR533) authorizes the repurchase of $300 million of its outstanding common stock. $NVR PR link.
Interpublic(PBR350) hires Kristin Cavallo as CEO of The Martin Agency. $IPG PR link.
XCEL Energy(PBR241) director Gail Boudreaux resigning from Board, effective 12/31/17, was recently named President/CEO of Anthem(PBR38). $XEL PR link.
Stryker Corp(PBR283) director Howard Cox, Jr, to retire from Board at next annual meeting in 05/18, to be named Director Emeritus for his 44 years of service. $SYK PR link.
Insight(PBR460) appoints Girish Rishi, CEO at JDA Software, to the Board. $NSIT PR link.
TEGNA(PBR622) elects Melinda Witmer, a former executive at Time Warner Cable (now Charter Spectrum), to the Board. $TGNA PR link.
UNISYS(PBR633) President/CEO Peter Altabef to also become Chairman on 04/26/18 following retirement of Paul Weaver, Nathaniel Davis to become Independent Lead Director. $UIS PR link.
The US Dept of Treasury says US November Federal Receipts were $208.4 billion, Outlays$346.9 billion, Deficit $138.5 billion, YTD Deficit(2 Months) is at $201.8 billion, YTD Deficit 2016 was $182.5 billion. Treasury PR link.
The US Dept of Labor says US November Producer Price Index is at +0.4%, October and September also at +0.4%, November 2016+0.2%. USDOL PR link.
The CoreLogic US September Housing Foreclosures 30 Days or More Delinquent was at 5.0%, August was 4.6%, July 4.6%, September 2016 5.2%. CoreLogic PR link.
***Monday, December 11:
Apple(PBR5 $AAPL) confirms it has purchased London-based music and image recognition service Shazam, terms not disclosed, but estimated for $400 million. TechCrunch PR link.
Verizon(PBR15) to stream in-market and national football games starting 01/18 in multi-year partnership with National Football League. $VZ PR link.
Boeing(PBR27) authorizes $18 billion share repurchase program, replaces existing $14 billion authorization of which $9.2 billion was used, expects purchases over next 24-30 months. $BA PR link.
Archer-Daniels-Midland(PBR34) to sell its Bolivia based 400 employees oilseeds operations to Inversiones Piuranas SA, terms not disclosed. $ADM PR link.
American Express(PBR83) to eliminate signature requirements for cardholder purchases worldwide beginning 04/18. $AXP PR link.
3M(PBR92) to sell substantially all of its 500 employees, $400 million revenues/year, Communication Markets Division to Corning(PBR281) for $900 million, in 2018. $MMM PR link.
Aramark(PBR184) completes $1.35 billion acquisition of Avendra from a consortium of 5 major hospitality companies. $ARMK PR link.
Avis Budget(PBR316) largest stock holder, SRS Investments, discloses 12 million shares, 14.7% ownership stake. $CAR PR link.
Mylan(PBR346) gets favorable US District Court patent ruling on MS treatment Glatiramer Acetate Injection 40 mg/mL, the first generic version of Teva Pharmaceutical(TEVA)’s Copaxone® 40 mg/mL, Teva drops further litigation. $MYL PR link.
LKQ(PBR376) to acquire Germany based European wholesale distributor of aftermarket spare parts for passenger cars, tools, capital equipment and accessories provider Stahlgruber for $1.8 billion, expects to close mid 1H18. $LKQ PR link.
Western Union(PBR441) to move its global headquarters from Englewood, CO, to the Tech Center area of Denver, CO. $WU PR link.
Colfax(PBR517) completes $863 million cash/stock sale of its $463 million revenues in 2017 Fluid Handling business to CIRCOR. $CFX PR link.
Xylem(PBR575) to acquire Calgary, Alberta, Canada, based 500 employees global smart infrastructure assessment and management for the water industry provider Pure Technologies(TSX: PUR) for $397 million, to close 1Q18. $XYL PR link.
Iron Mountain(PBR663) to acquire the 4 US operations of Phoenix, AZ, based IO Data Centers for $1.315 billion plus $60 million performance incentive. $IRM PR link.
Arch Coal(PBR691) to repurchase 500,000 shares for $41.5 million from Monarch Alternative Capital, counts towards current $500 million repurchase program. $ARCH PR link.
Regeneron(PBR708) gets US FDA approval for 12-week dosing interval of EYLEA® (aflibercept) Injection in patients with wet age-related macular degeneration. $REGN PR link.
Fitbit(PBR870) and Jawbone announce resolution of all outstanding civil litigation, terms not disclosed. $FIT PR link.
Synopsys(PBR879) completes $547 million cash acquisition of private automated solutions for securing and managing open source software provider Black Duck Software. $SNPS PR link.
Briggs & Stratton(PBR920) has acquired the assets of Ground Logic, Inc. of Lincoln, NE, a designer/manufacturer of stand-on commercial spreaders and spreader/sprayers for fertilizer and pesticide-herbicide lawn applications on mid/large-sized residential/commercial properties, terms not disclosed. $BGG PR link.
Kraft Heinz(PBR156) hires Rashida La Lande as its new Global General Counsel and Corporate Secretary effective mid 01/18, succeeds leaving Jim Savina. $KHC PR link.
Ingredion(PBR415) to hire Valdirene Bastos Licht as SVP and President/Asia-Pacific and an officer of the Company effective 03/01/18, succeeds Jorgen Kokke who is becomes an EVP on 01/01/18. $INGR PR link.
Alliant Energy(PBR634) SVP John Larsen to become President on 01/01/18, role held by Chairman/President/CEO Patricia Kampling. $LNT PR link.
Barnes Group(PBR977) appoints Peter Gutermann as SVP/General Counsel and Secretary. $B PR link.
GE(PBR9) announces Verizon(PBR15) Chairman/CEO Lowell McAdams resigns from Board, no longer able to allocate time necessary to serve. $GE PR link.
Lockheed(PBR64) elects Jeh Johnson, former US Secretary of Homeland Security, and James Taiclet, Chairman/President/CEO of American Tower(PBR562), to the Board. $LMT PR link.
Xerox(PBR144) director Jonathan Christodoro, former Managing Director of Icahn Capital, has resigned to allow Carl Icahn to submit nominations at 2018 annual meeting, standstill arrangement with the Icahn Group entered into on 07/27/16 terminated, Icahn to submit 4 board nominations, Xerox confirms guidance and progress. $XRX PR link.
SAIC(PBR580) appoints Mark J Johnson, Co-founder and Managing Partner of private equity firm Astra Capital Management, to the Board. $SAIC PR link.
Thor Industries(PBR616) appoints Christopher J. Klein, CEO of Fortune Brands(PBR569), to the Board, replaces Alan Siegel who is retiring after 35 years of service. $THO PR link.
HealthSouth(PBR800) appoints Nancy M. Schlichting, former President/CEO of the Henry Ford Health System, to the Board. $HLS PR link.
BlueLinx(PBR892) appoints Karel K. Czanderna, President/CEO of Flexsteel Industries(NASDAQ), to the Board effective 01/01/18. $BXC PR link.
Titan Intl(PBR910) appoints its President/CEO Paul G. Reitz to the Board. $TWI PR link.
The US Dept of Labor says US Preliminary October Job Openings were at 5,997,000, -2.9% from September, +7.3% from October 2016. USDOL PR link.
***Friday, December 8:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/08/17:
DJIA ends at record 24,329.16, +0.23% from last Friday/MTD, +8.59% QTD, +23.11% YTD, +0.00% from record 24,329.16 set 12/08/17.
NASDAQ ends at 6,840.08, -0.49% from last Friday/MTD, +5.30% QTD, +27.07% YTD, -1.05% from record 6,912.36 set 11/28/17.
SPX ends at record 2,651.50, +0.15% from last Friday/MTD, +5.24 QTD, +18.43% YTD, +0.00% from record 2,651.50 set 12/08/17.
Amazon(PBR29) Music Unlimited unit expands its streaming service into 28 more countries, also shipping them Echo devices for Alexa cloud-based voice service using English. $AMZN PR link.
Sysco(PBR61) has placed a reservation for 50 of Tesla(PBR651 $TSLA)’s new fully-electric Semi tractors. $SYY PR link.
Honeywell(PBR74) authorizes repurchase up to $8 billion of its common stock, includes $1.5 billion remaining from previous program, no expiration date. $HON PR link.
SuperValu(PBR164) completes $180 million acquisition of retailer owned cooperative, 650 employees, 1.5 million sf in real estate Affiliated Grocers of Florida. $SVU PR link.
KKR(PBR332) to acquire Fair Lawn, NJ, based 1,400 employees global industrial tool components manufacturer Hyperion from Sandvik, terms not disclosed. $KKR PR link.
Macy’s(PBR97) Executive Chairman Terry Lundgren to retire on 01/03/18, CEO Jeff Gennette to add chairman role at that time, completes transition plan. $M PR link.
Barnes Group(PBR977) appoints Richard Hipple, Executive Chairman of Materion, to the Board. $B PR link.
The US Dept of Labor says US November Employed was at 153,918,000, +57,000 from October, +1,870,000 from November 2016, Unemployment Rate remains at 4.1%. USDOL PR link.
The US Dept of Commerce/Census says US Preliminary October Total Wholesale Saleswere at $484.5 billion, +0.7% from September, +8.3% from October 2016. USDOC PR link.
The U of Michigan Preliminary December Consumer Sentiment Index is at 96.8, November was 98.5, October 100.7, December 2016 98.2. UMich PR link.
***Thursday, December 7:
GE(PBR9) Power unit to reduce global headcount by 12,000 as part of plan to take out $1 billion in structural costs. $GE PR link.
Johnson Controls(PBR68) authorizes incremental $1 billion to its share repurchase program, balance available is now $1.2 billion. $JCI PR link.
United Continental(PBR77) authorizes new $3 billion share repurchase program. $UAL PR link.
Gilead Sciences(PBR107) & cell therapy KIte subsidiary to acquire pre-clinical stage company Cell Design Labs for up to $567 million. $GILD PR link.
Raytheon(PBR118) forms new wholly owned subsidiary, Raytheon Emirates, headquartered in Abu Dhabi, United Arab Emirates, John Brauneis named CEO. $RTN PR link.
Dollar General(PBR151) planning 2,000 real estate projects comprised of 900 new stores, 1,000 store remodels and 100 store relocations in fiscal year 2018. $DG PR link.
Stryker Corp(PBR283) to acquire Plymouth, MN, based global ENT medical technology products provider Entellus Medical(NASDAQ: ENTL) for $24.00/share, $662 million. $SYK PR link.
Dover(PBR343) to spin off $1 billion/year upstream energy businesses, “Wellsite”, into a standalone, public company, all stock transaction, by end of 2Q18. $DOV PR link.
Norwegian Cruise Lines(PBR489) to change from NASDAQ to NYSE, effective 12/19/17, symbol to remain NCLH. $NCLH PR link.
Arthur J Gallagher(PBR515) acquires Glenview, IL, based life insurance general agency SouthCap Brokerage Group, terms not disclosed. $AJG PR link.
American Tower(PBR562) approves new $2 billion stock repurchase program, has $345 million remaining from previous 2011 authorization. $AMT PR link.
Tesla(PBR651 $TSLA) gets Anheuser-Buschorder for 40 Tesla semi trucks. MarketWatch PR link.
Edwards Lifesciences(PBR819) authorizes new share repurchase program to acquire up to an additional $1 billion in common stock. $EW PR link.
Ciena Corp(PBR829) authorizes up to $300 million share repurchase program through end of fiscal year 2020. $CIEN PR link.
Middleby(PBR865) acquires Denmark based $30 million/year industrial cooling and freezing equipment for the food processing industry manufacturer Scanico A/S, terms not disclosed. $MIDD PR link.
Synopsys(PBR879) enters into $200 million accelerated share repurchase program with JPMorgan Chase(PBR21) and others. $SNPS PR link.
PharMerica(PBR911) $29.25/share, $1.4 billion cash, includes debt, acquisition by KKR(PBR332) is completed per SEC filing. $PMC PR link.
New York Times(PBR971) says it now has 3.5 million paid subscriptions, 130 million monthly readers, opens 3 new leadership positions, 2018 to be Year of Audience. $NYT PR link.
Invacare(PBR984) to reduce N Americaworkforce by 110 associates in restructuring. $IVC PR link.
United Continental(PBR77) promotes Kate Gebo to EVP/Human Resources & Labor Relations, succeeds retired Mike Bonds. $UAL PR link.
Anthem(PBR38) appoints Antonio Neri, President of Hewlett Packard Enterprise(PBR56), to the Board. $ANTM PR link.
CoreCivic(PBR965) EVP/Chief Corrections Officer Harley G. Lappin to retire effective 01/01/18, at which time he will become a member of the Board. $CXW PR link.
The US Federal Reserve says US Preliminary October Total Consumer Revolving Debt was at $1.012 trillion, Non-Revolving Debt $2.791 trillion, Total Debt $3.802 trillion, +0.5% from September, +4.3% YTD. USFED PR link.
FannieMae(PBR17) says the US November Home Purchase Sentiment Index is at 87.8, October was 85.2, September 88.3, November 2016 81.2. $FNMA PR link.
***Wednesday, December 6:
Walmart(PBR1) changing legal name from Wal-mart Stores, Inc., to Walmart Inc., effective 02/01/18. $WMT PR link.
ExxonMobil(PBR2) and Mexico retail partner Grupo Orsan to open eight Mobil stations in the state of Querétaro in 12/17, to open 50 in Bajioregion 1Q18, marks entry in Mexico’s fuels market. $XOM PR link.
CVS Health(PBR11) Pharmacy unit stores in Manhattan launches free, same-day prescription and certain over-the-counter items delivery service this week, same/next day in additional cities to launch in early 2018. $CVS PR link.
Home Depot(PBR32) authorizes $15 billion share repurchase plan, replaces previous authorization, has repurchased 1.3 billion shares for $73 billion since 2002. $HD PR link.
DaVita Healthcare(PBR302) subsidiary independent medical group 1.7 million patients per year DaVita Medical Care to be acquired by UnitedHealth(PBR14)’s Optum unit for $4.9 billion cash, to close in 2018. $DVA PR link.
Spirit AeroSystems(PBR370) to invest $1 billion, add 1,000 jobs, over 5 years in expansion of facility in Wichita, KS. $SPR PR link.
Williams-Sonoma(PBR508)’s Pottery Barn unit to offer Leesa Mattresses online after success from the West Elm unit. $WSM PR link.
Fred’s(PBR897) cancels quarterly dividend, amends 2012 share repurchase program to 3.8 million common shares valid for up to 2 years, considering various strategic transactions and alternatives for certain non-core assets, including real estate and the specialty pharmacy business. $FRED PR link.
Scientific Games(PBR937) gets support from NYX key stockholders William Hill plc and AlpInvest to acquire Las Vegas, NV, based 1,000 employees globally digital gaming provider NYX Gaming Group(TSXV: NYX) for around $631 million, stockholders meeting scheduled for 12/20/17. $SGMS PR link.
Lowe’s(PBR50) promotes Sylvain Prud’homme to President/International, effective 12/15/17. $LOW PR link.
Adobe Systems(PBR557) promotes Scott Belsky as Chief Product Officer and EVP/Creative Cloud. $ADBE PR link.
Hershey(PBR354) appoints business and financial executive Wendy L. Schoppert, most recently EVP of Sleep Number Corporation, to its Board. $HSY PR link.
Ulta Beauty(PBR646) appoints Sally Blount, PhD, Dean of the Kellogg School of Management at Northwestern University, to the Board. $ULTA PR link.
The US Dept of Labor says US Revised 3Q17 Labor Productivity Output/Hour was +3.6%, unchanged from previous revision, 2Q17 was +1.4%, 3Q16 was +2.7%. USDOL PR link.
ADP(PBR235) says US November Change in Non-Farm Employment was +190,000, +50,000 from small sized businesses, +99,000 from medium sized businesses, +41,000 from large sized businesses; +36,000 from goods producing sector, +155,000 from service sector. $ADP PR link.
Ford(PBR10) 2018 6th Annual Trends Reportsays people feel increasingly polarized by unrest, upheaval and other changes taking place in the world, and more than 60 percent of adults globally say they feel overwhelmed by things happening around them. $F PR link.
***Tuesday, December 5:
Ford(PBR10) to introduce 50+ new vehicles in China by 2025, to locally assemble 5 vehicle lines starting in 2019, working with Baidu on autonomous vehicle development. $F PR link.
Bank of America(PBR24) increases planned common stock repurchase plan by $5 billion, $17 billion now available through 06/30/18. $BAC PR link.
Alphabet(PBR44)’s Google unit pulls YouTubefrom Amazon(PBR29) streaming devices in reciprocity disagreement. MarketWatch PR link.
McDonald’s(PBR101 $MCD) interview with US President Chris Kempczinski, announces new $1, $2 and $3 value menu to be rolled out starting 01/04/18, will replace the current McPick 2 Menu. Chicago Tribune PR link.
YUM!(PBR217 $YUM)’s Pizza Hut unit to roll out beer/wine delivery, to test in Phoenix. CNN PR link.
Williams-Sonoma(PBR508) launches four new e-commerce sites for Canadian customers, Williams Sonoma, West Elm, Pottery Barn and Pottery Barn Kids. $WSM PR link.
Arthur J Gallagher(PBR515) acquires London, UK, based business consulting services provider Gatehouse Consulting, terms not disclosed. $AJG PR link.
Intuit(PBR529) to acquire 35,000 customers automatic time tracking and scheduling provider TSheets for $340 million cash, to close 2Q18. $INTU PR link.
Brunswick(PBR584) announces it intends to sell its Sea Ray line in 1H18. $BC PR link.
Hyster-Yale Materials(PBR721) to acquire 75% and controlling interest in private China based Zhejiang Maximal Forklift Co from KNSN Pipe and Pile Co for $90 million cash. $HY PR link.
Cinemark(PBR739) announces Movie Club, $8.99/mo movie membership program, offers ticket and concession discounts and other exclusive benefits. $CNK PR link.
Toro(PBR855) appoints Michael G. Vale, PhD, EVP/Health Care Business Group of 3M(PBR92), to the Board, effective 01/01/18. $TTC PR link.
DISH(PBR196) Chairman/CEO Charlie Ergen relinquishes CEO role to President/COO Erik Carlson, executive team restructured, David Scott hired, effective in 02/18, as EVP/Chief Human Resources Officer. $DISH PR link.
Genesco(PBR702) SVP and Journeys Group President/CEO James Estepa to retire effective 02/01/18, to be succeeded by Mario Gallione. $GCO PR link.
Aerojet Rocketdyne(PBR969) hires Steve Warren as VP/Communications & Chief Communications Officer. $AJRD PR link.
The US Dept of Commerce says US Preliminary October Total Exports were $195.9 billion, Total Imports $244.6 billion, Total Deficit $48.7, Total YTD Deficit(10 months) is $462.8 billion, Total YTD Deficit October 2016was $413.9 billion. USDOC PR link.
The IHS Markit Final November Composite PMI Output Index is at 54.5, October was 55.2, September 54.8, November 2016 54.9. IHS Markit PR link.
The ISM November Non-Manufacturing Index(>50% Economy Growing) is at 57.4%, October was 60.1%, September 59.8%, November 2016 57.2%. ISM PR link.
The Purdue/CME November Agriculture Barometer Index is at 128, October was 135, September 132, November 2016 116. Purdue/CME PR link.
***Monday, December 4:
ExxonMobil(PBR2) acquires from Mauritania government 3 deepwater offshore blocks, totaling nearly 8.4 million acres. $XOM PR link.
Apple(PBR5 $AAPL) to transfer $15.46 billion in allegedly unpaid taxes that the European Unionordered Dublin to retrieve, beginning in 1Q18, per Ireland’s finance chief. MarketWatch PR link.
CVS Health(PBR11) to acquire Aetna(PBR49 $AET) for $207/share, $69 billion, stock/cash, expects to close 2H18. $CVS PR link.
ConocoPhillips(PBR53) to get $337 million from Ecuador government under a February 2017 International Centre for Settlement of Investment Disputes (ICSID) arbitration award. $COP PR link.
Hartford Financial(PBR152) to complete its exit from run-off life and annuity businesses with sale of Talcott Resolution to an investment group for $2.05 billion, expects to close 1H18. $HIG PR link.
Starbucks(PBR178) opens state-of-the-art premium reserve Roastery in Shanghai with the first fully immersive coffee wonderland in China. $SBUX PR link.
MasterCard(PBR291) authorizes new $4.0 billion share repurchase program, to start when current authorization used up, $1.5 billion balance. $MA PR link.
SunTrust Banks(PBR307) completes sale of its commercial lines insurance premium finance subsidiary, $1.4 billion in assets Premium Assignment Corporation (PAC), to IPFS Corporation, terms not disclosed. $STI PR link.
Discovery Communications(PBR399) acquires additional 24.5% stake in joint venture OWN, the Oprah Winfrey Network, for $70 million, now has 70% stake, Oprah Winfrey to remain CEO, exclusive relationship extended through 2025. $DISCA PR link.
General Cable(PBR418) to be acquired by Italian based global energy and telecom cable systems provider Prysmian Group (BIT: PRY)for $30/share, $3 billion cash, expects to close by 3Q18. $BGC PR link.
Triumph Group(PBR578) to combine Aerospace Structures and Precision Components into Aerospace Structures unit, Pete Wick to be its EVP, effective 01/01/18. $TGI PR link.
Vantiv(PBR754) and Worldpay Group plc (LSE: WPG) announce leadership after merger, name to be WorldPay, global/corporate headquarters in Cincinnati, OH, international headquarters in London, UK, NYSE symbol to be WP, company to be led by Charles Drucker as executive chairman and co-CEO, and Philip Jansen as co-CEO, expects to close 01/16/18. $VNTV PR link.
Adtalem Education(PBR905) to transfer ownership of DeVry University(DU) and its Keller Graduate School of Management to Cogswell Education in 2018, agreement includes a multiple year earn-out based on DU performance. $ATGE PR link.
FTI Consulting(PBR941) adds $100 million to share repurchase program, balance is now $113 million, no time limit. $FCN PR link.
Broadcom(NASDAQ: AVGO) to nominate 11 independent directors for election at Qualcomm(PBR106 $QCOM) 2018 annual meeting and to propose certain other matters for the consideration. Broadcom PR link.
Qualcomm(PBR106) responds to the Broadcom((NASDAQ: AVGO) nomination of 11 independent directors, says company is better positioned with current Board. $QCOM PR link.
Clearwater Paper(PBR898) appoints Beth Ford, COO for Land O’ Lakes Businesses, as Chairman, effective 01/01/18, to succeed Boh Dickey. $CLW PR link.
First Horizon National(PBR953) Board member R Brad Martin retires, served over 20 years. $FHN PR link.
Big Lots(PBR468) President/CEO David Campisi taking temporary medical leave, EVP/Chief Merchandising & Operating Officer Lisa Bachmann and EVP/Chief Admin & CFO Timothy Johnson assigned responsibilities until DC returns. $BIG PR link.
Ingredion(PBR415) to promote Jorgen Kokke to EVP/Global Specialties & President/N America, and Pierre Perez Y Landazuri to SVP & President/EMEA, effective 01/01/18. $INGR PR link.
Under Armour(PBR668) acting CFO David Bergman appointed as CFO; MyFitnessPal co-founders Mike Lee and Albert Lee to leave in 01/18; digital businesses restructured, all now reporting to Chief Technology Officer Paul Fipps. $UA PR link.
Woodward(PBR888) promotes Matthew F. Taylor to President/Airframe Systems, effective 02/02/18, succeeds retiring Marty Glass. $WWD PR link.
The US Dept of Commerce/Census says US Preliminary October Manufacturing Orderswere at $479.6 billion, -0.1% from September, +4.3% from October 2016. USDOC PR link.
***Friday, December 1:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/01/17:
DJIA ends at 24,231.59, +2.86% from last Friday, -0.17% MTD, +8.15% QTD, +22.61% YTD, -0.17% from record 24,272.35 set 11/30/17.
NASDAQ ends at 6,847.59, -0.60% from last Friday, -0.38% MTD, +5.41% QTD, +27.20% YTD, -0.94% from record 6,912.36 set 11/28/17.
SPX ends at 2,642.22, +1.53% from last Friday, -0.20% MTD, +4.88 QTD, +18.02% YTD, -0.20% from record 2,647.58 set 11/30/17.
ExxonMobil(PBR2) to merge refining and marketing divisions into Exxon Fuels & Lubricants Co in 1Q18, Bryan Milton to be President, effective 01/01/18. $XOM PR link.
DowDuPont(PBR48) Dow Chemical subsidiary completes $1.1 billion sale of its Dow AgroSciences‘ corn seed business in Brazil to CITIC Agri Fund, satisfies part of the required regulatory remedies of the DowDuPont merger transaction. $DWDP PR link.
Macy’s(PBR97) to hire an additional 7,000 seasonal associates in 2017. $M PR link.
Amgen(PBR135) gets US FDA approval for Repatha® (evolocumab) as the first PCSK9 inhibitor to prevent heart attacks, strokes. $AMGN PR link.
Eli Lilly(PBR142) gets US FDA approval for Taltz® (ixekizumab) for treatment of active psoriatic arthritis. $LLY PR link.
Monsanto(PBR187) $128/share, $66 billion cash acquisition by Germany’s Bayer AG gets Committee on Foreign Investment in the United States approval, expects transaction to close in early 2018. $MON PR link.
Mylan(PBR346) and Biocon get US FDA approval for Ogivri™ (trastuzumab-dkst), a biosimilar to Herceptin® (trastuzumab), a therapy for certain breast and stomach cancers. $MYL PR link.
Mylan(PBR346) gets US FDA approval of its Heparin Sodium Injection USP line, a complex injectable used as an anticoagulant in blood transfusions, extracorporeal circulation and dialysis procedures to prevent and treat various types of blood clots and to treat atrial fibrillation with embolization. $MYL PR link.
Quest Diagnostics(PBR353) completes acquisition of Cleveland HeartLab, forms strategic collaboration with Cleveland Clinic, terms not disclosed. $DGX PR link.
ARRIS Intl(PBR366) completes $800 million cash acquisition of Brocade(PBR845)’s Ruckus Wireless and ICX Switch business from Singapore based Broadcom Ltd(NASDAQ: AVGO). $ARRS PR link.
Arthur J Gallagher(PBR515) acquires Wayne, IL, based full range of employee benefits, property/casualty, financial and retirement products and services, and human resource consulting services provider Weiss Insurance Agencies, terms not disclosed. $AJG PR link.
Molson Coors(PBR558) MillerCoors subsidiary purchases group annuity contract from Athene Annuity and Life Co to provide pension benefit services to 6,000 retirees/beneficiaries, reduces pension benefits obligations by $900 million. $TAP PR link.
SL Green Realty(PBR862) adds $500 million to share repurchase program, balance available is now $1.5 billion. $SLG PR link.
Wendy’s(PBR877) does exclusive partnership with DoorDash for home deliveries, available in all markets. $WEN PR link.
ExxonMobil(PBR2) promotes President/Exxon Chemical Co Neil Chapman to SVP and member of corporate’s management committee, John Verity to become President/Exxon Chemical, both effective 01/01/18. $XOM PR link.
The US Dept of Commerce/Census says US Preliminary October Total Construction Annual Rate is at $1.242 trillion, +1.4% from September, +5.8% from October 2016. USDOC PR link.
The ISM US November Manufacturing PMI Index is at 58.2%, October was 58.7%, September 60.8%, November 2016 53.2%. ISM PR link.
The IHS Markit US November Manufacturing PMI is at 53.9, October was 54.6, September53.1, November 2016 54.1. IHS Markit PR link.
Automotive News says US Estimated December Light Vehicle Sales were at 1,394,910 units, Average Transaction Pricewas $35,870, Average Incentive Outlay $3,692. Auto News PR link.
***Thursday, November 30:
The PBRMarketTools US Stock Exchanges Recap for November Ending 11/30/17:
DJIA ends at record 24,272.35, +3.03% from last Friday, +3.83% MTD, +8.33% QTD, +22.82% YTD, +0.00% from record 24,272.35 set 11/30/17.
NASDAQ ends at 6,873.97, -0.22% from last Friday, +2.17% MTD, +5.82% QTD, +27.69% YTD, -0.56% from record 6,912.36 set 11/28/17.
SPX ends at record 2,647.58, +1.74% from last Friday, +2.81% MTD, +5.09 QTD, +18.26% YTD, +0.00% from record 2,647.58 set 11/30/17.
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