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The PBR1000 July 2015 Breaking News Recap

August 3, 2015 by admin

ID-100335902 Business Word Head-Sujin Jetkasettakorn

As A Business Leader There Is A Lot To Think About.

By Larry C. Paxton

The PBR1000 in July 2015 had a lot of highlights in several areas.

Most of the mega deals involved the continuing consolidation of health related businesses. There were also some long awaited completion of deals like AT&T/DirecTV and Dollar Tree/Family Dollar.

More spinoffs occurred or were announced, with PayPal getting most of the press.

The US economy is still regarded as somewhat fragile but showing modest growth, enough to keep everyone guessing when the Federal Reserve will increase interest rates.

World issues had an affect as well. The stock markets displayed volatility based on the still unresolved Greece debt issues, the slowdown of the China economy and the dramatic downward dip in its markets towards the end of the month. Nevertheless, all US stock markets showed good increases over June with the NASDAQ hitting new highs. Other issues that didn’t seem to have a direct effect, but could have a longer range impact include the nuclear weapons negotiations with Iran, and the battles against extremist warring organizations like ISIL in the Middle East.

August has a history of volatility, let’s see if that’s true again in 2015.

Following are The PBR1000 and economic related news items of note for July 2015, starting with the last active day.

Friday, July 31:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,689.86, +0.69% from last Friday, +0.40% MTD/QTD, -.75% YTD.
NASDAQ closes week at 5,128.28, +0.78% from last Friday, +2.84% MTD/QTD, +8.28% YTD.
SPX closes week at 2,103.84, +1.16% from last Friday, +1.97% MTD/QTD, +2.18% YTD.

UPS(PBR47) to acquire truckload freight brokerage company Coyote Logistics for $1.8 billion. $UPS PR link.

Jarden(PBR324) completes $1.35 billion acquisition of disposable tableware manufacturer The Waddington Group from private equity firm Olympus Partners. $JAH PR link.

Berry Plastics(PBR488) to acquire specialty materials provider AVINTIV from Blackstone Group(PBR352) for $2.45 billion cash. $BERY PR link.

Yahoo!(PBR519) to acquire social shopping site Polyvore, terms not disclosed. $YHOO PR link.

Penn National Gaming(PBR750) to acquire Illinois 1,100 video gaming terminals operator Prairie State Gaming. $PENN PR link.

The US Dept of Labor says the 2nd Quarter Employment Cost Index decelerated sharply to 0.2% from the 1st Quarter. MarketWatch article link.

Thursday, July 30:
MasterCard(PBR291) extends partnership with Samsung to deliver Samsung Pay in Europe. $MA PR link.

Intl Flavors & Fragrances(PBR666) completes $311 million acquisition of Lucas Meyer Cosmetics. $IFF PR link.

Ventas(PBR671) to spinoff of most of its post-acute/skilled nursing facility portfolio as an independent publicly held REIT called Care Capital Properties, NYSE: CCP, after 08/17/15. $VTR PR link.

Kroger(PBR20) 1st female corporate executive Group VP for Corporate Affairs Lynn Marmer retiring in early 2016. $KR PR link.

Raytheon(PBR118) promotes Wesley Kremer as President, Integrated Defense Systems. $RTN PR link.

Diebold(PBR676) EVP/COO George Mayes, Jr, leaving, position to be eliminated in streamlining effort. $DBD PR link.

Avista Corp(PBR990) announces 3 changes to its officer team in finance, strategy, & development. $AVA PR link.

The US Dept of Commerce says that the 2nd Quarter Advance GDP estimate is at a 2.3%, $17.840 trillion, annual rate. USDOC PR link.

The US Dept of Labor says for the week ending 07/18/15 the Total Insured Unemployment was at 2.266,000, 4 week moving average at 2,255,250. USDOL PR link.

FreddieMac(PBR41) says on 07/30/15 30 Year Fixed Mortgage Rate averaged 3.98% with 0.6 points/fees. $FMCC PR link.

Wednesday, July 29:
Mylan(PBR346) receives unconditional clearance by European Commission for purchase of Perrigo(PBR565). $MYL PR link.

Apollo Education Group(PBR681) files notice disclosing an FTC civil investigation on business practices. MarketWatch article link.

Cytec(PBR887) to be merged into Brussels based global chemical company Solvay for $75.25/share, $5.5 billion. $CYT PR link.

Manitowoc(PBR579) hires Hubertus Muelhaeuser as CEO for the Manitowoc Foodservice unit. $MTW PR link.

Tuesday, July 28:
AIG(PBR46) acquires private First Principles Capital Management, names its CEO Douglas Dachille as AIG’s next EVP/Chief Investment Officer, succeeds William Dooley, who is retiring. $AIG PR link.

Caterpillar(PBR54) to do $1.5 billion accelerated stock repurchase program by end of 3rd quarter. $CAT PR link.

Caterpillar(PBR54) announces new strategy for its vocational truck product family, to expand production at its Victoria, TX, facility. $CAT PR link.

Honeywell Intl(PBR74) to acquire gas heating, controls, metering, and advanced technologies provider Elster Division from Melrose Industries plc for $5.1 billion. $HON PR link.

SuperValu(PBR164) considering spinoff of its Save-A-Lot unit into a stand-alone publicly traded company. $SVU PR link.

Proctor & Gamble(PBR33) promotes David Taylor as President/CEO, effective 11/01/15, succeeds AG Lafley who becomes Executive Chairman. $PG PR link.

Citrix(PBR658) President/CEO Mark Templeton to retire when successor appointed, search firm retained. $CTXS PR link.

Scientific Games(PBR937) hires David Smail as EVP/Chief Legal Officer, effective 08/03/15. $SGMS PR link.

The US Dept of Commerce says the 2nd Quarter Homeownership Rate was 63.4%, -1.3% from 2nd quarter 2014, -0.4% from 1st quarter 2015. USDOC PR link.

Monday, July 27:
Allergan(PBR219) selling its global generics business to Teva Pharmaceutical($TEVA) for $40.5 billion cash/stock. $AGN PR link.

Allergan(PBR219) to acquire depression therapies developer Naurex for $560 million cash. $AGN PR link.

Mylan(PBR346) comments on Israel based Teva Pharmaceuticals acquisition of generics business of Allergan(PBR219) & unsolicited offer withdrawal for Mylan. $MYL PR link.

McGraw Hill(PBR477) to acquire data, analytics, & research firm SNL Financial for $2.225 billion cash. $MHFI PR link.

Arch Coal(PBR691) postpones 1:10 reverse stock split from 07/27/15 close to 08/03/15 close. $ACI PR link.

Beacon Roofing(PBR818) to acquire roofing products distributor Roofing Supply Group for $1.1 billion cash/stock. $BECN PR link.

SandRidge Energy(PBR975) receives NYSE notice of potential delisting because share price less than $1.00 for 30 days, considering reverse stock split. $SD PR link.

Darden Restaurants(PBR398) announces Todd Burrowes is rejoining LongHorn Steakhouse unit as President, reports to CEO. $DRI PR link.

Friday, July 24:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,568.53, -2.86% from last Friday, -0.29% MTD/QTD, -1.43% YTD.
NASDAQ closes week at 5,088.83, -2.33% from last Friday, +2.04% MTD/QTD, +7.45% YTD.
SPX closes week at 2,079.65, -2.21% from last Friday, +0.80% MTD/QTD, +1.01% YTD.

AT&T(PBR12) completes $67 billion acquisition of DirecTV(PBR89), now the largest pay TV provider in the US & world. $T PR link.

Anthem(PBR38) to acquire Cigna(PBR85) for $188/share, $54.2 billion, creates company with 53 million medical members, $115 billion revenues/year. $ANTM PR link.

Enterprise Products(PBR59) completes sale of its offshore Gulf of Mexico assets to Genesis Energy(PBR553) for $1.5 billion cash. $EPD PR link.

Cisco(PBR60) to stop selling flash memory data-storage business known as Invicta. MarketWatch article link.

Johnson Controls(PBR68) plans to spinoff $22 billion in 2014 revenues Automotive Experience business as an independent publicly traded company within 12 months. $JCI PR link.

American Airlines(PBR69) ups shares repurchase program to $4 billion. $AAL PR link.

Charles River Labs(PBR1025) completes acquisition of rapid bacterial detection equipment provider Celsis International for $212 million cash. $CRL PR link.

Public Service Enterprise(PBR257) EVP/CFO Caroline Dorsa to retire in 4th quarter, search firm retained for new CFO. $PEG PR link.

The US Dept of HUD says June New Single-Family Houses Sales were at a 482,000 annual rate, -6.8% from May, +18.1% over June 2014. HUD PR link.

Thursday, July 23:
Cisco(PBR60) to sell its set-top box business unit to France based Technicolor for $604 million. $CSCO PR link.

Alcoa(PBR115) completes acquisition of titanium & specialty metal products manufacturer RTI(NYSE: RTI) in $1.5 billion stock deal. $AA PR link.

Starbucks(PBR178) adds 50 million shares for repurchase to existing 11 million available. $SBUX PR link.

EnerSys(PBR776) completes acquisition of Australia based equipment facilities manufacturer ICS Industries. $ENS PR link.

DuPont(PBR82) promotes Marc Doyle to SVP-Safety/Protections unit upon resignation of Matthew Trerotola. $DD PR link.

Crown Holdings(PBR298) CEO John Conway retiring effective 01/01/16, Timothy Dunne elected to succeed him as President/CEO. $CCK PR link.

Celanese(PBR369) Interim CFO Chris Jensen officially named CFO. $CE PR link.

Colfax Corp(PBR517) hires Matt Trerotola as CEO, effective 07/24/15, succeeds retiring Steve Simms. $CFX PR link.

Yahoo!(PBR519) promotes Lisa Utzschneider to Chief Revenue Officer. $YHOO PR link.

CA Technologies(PBR550) hires Ayman Sayed as Chief Product Officer, reports to CEO Mike Gregoire. $CA PR link.

Graham Holdings(PBR615) Kaplan unit CEO Tom Leppert resigning effective 08/21/15, Chairman Andy Rosen to add CEO responsibilities. $GHC PR link.

Wednesday, July 22:
Home Depot(PBR32) to acquire national distributor/direct marketer of maintenance, repair & operational products Interline Brands for $1.625 billion cash. $HD PR link.

Genworth Financial(PBR287) in negotiations to sell its lifestyle protection insurance business to France based AXA SA for $510 million. $GNW PR link.

Discovery Communications(PBR399) to acquire full ownership of Europe/Asia sports channels group Eurosport from TFI Group for $535 million per 2012 agreement. $DISCA PR link.

St Jude Medical(PBR440) to acquire medical devices for heart failure developer Thoratec for $63.50/share, $3.4 billion cash. $STJ PR link.

Bank of America(PBR24) CFO Bruce Thompson stepping down, Paul Donofrio to become CFO on 08/01/15; other key management changes announced. $BAC PR link.

The National Assn of Realtors reports June Existing Home Sales at a 5.49 million annual rate, $236,400 median price. NAR PR link.

Tuesday, July 21:

KKR(PBR332) to acquire an 80% stake in $1 billion total enterprise valued photovoltaic developer/operator Gestamp Solar from Gestamp Renewables. $KKR PR link.

Lexmark(PBR601) to eliminate 500 positions worldwide as part of restructuring program. $LXK PR link.

CIT Group(PBR608) gets federal & states regulatory approval for $3.4 billion acquisition of OneWest Bank, expected to close 08/03/15. $CIT PR link.

Henry Schein(PBR270) promotes Peter McCarthy to President, Global Animal Health Group. $HSIC PR link.

Corning(PBR281) Vice Chairman/CFO Jim Flaws to retire on 11/30/15. $GLW PR link.

Corning(PBR281) elects Lawrence McRae as Vice Chairman & Corporate Development Officer, Tony Tripeny as SVP/CFO effective 09/01/15, & Dr. Jeffrey Evenson SVP/Chief Strategy Officer. $GLW PR link.

Royal Caribbean(PBR329) hires Jim Berra as Chief Marketing Officer, reports to President/CEO Michael Bayley. $RCL PR link.

HARMAN Intl(PBR456) promotes Phillip Eyler as EVP & President, Infotainment division, reports to Chairman/President/CEO Dinesh Paliwal. $HAR PR link.

Iron Mountain(PBR663) hires Deirdre Evens as Chief People Officer, reports to President/CEO William Meaney. $IRM PR link.

Bon-Ton Stores(PBR707) hires Bill Tracy as COO, effective 07/27/15. $BONT PR link.

AMC Entertainment(PBR728) President/CEO Gerry Lopez leaving, effective 08/06/15, CFO Craig Ramsey to become Interim President/CEO at that time. $AMC PR link.

Elizabeth Arden(PBR1043) hires JuE Wong as President, Elizabeth Arden Brand, effective 08/03/15. $RDEN PR link.

Monday, July 20:
United Technologies(PBR45) to do 75 million shares repurchase program, $8.3 billion, with sale of Sikorsky Aircraft unit to Lockheed Martin(PBR64) for $9 billion. $UTX PR link.

Lockheed Martin(PBR64) to acquire Sikorsky Aircraft unit from United Technologies(PBR45) for $9 billion. $LMT PR link.

Ross Stores(PBR253) to open 19 Ross Dress for Less and 8 dd’s Discount stores in July as part of plan for 90 new stores in 2015. $ROST PR link.

Caesars Entertainment(PBR314) reaches agreement on debt restructuring with a group of 2nd lien holders, makes changes to 01/14/15 Restructuring Support Agreement. $CZR PR link.

Calpine Corp(PBR330) to expand in Texas & NE US with acquisition of retail electric provider Champion Energy Marketing for $240 million. $CPN PR link.

CF Industries(PBR502) confirms it is in preliminary discussions with OCI NV regarding a potential combination involving certain of OCI’s businesses. $CF PR link.

Arch Coal(PBR691) announces 1:10 reverse stock split after 07/27/15 market close, will maintain listing status on NYSE. $ACI PR link.

SunEdison(PBR782) to acquire Vivint Solar(NYSE: VSLR) for $16.50/share, $2.2 billion in cash/stock/notes, to close in 4th quarter 2015. $SUNE PR link.

Synopsis(PBR879) completes acquisition of the Seeker security product and its R&D team from Quotium(NYSE Euronext: QTE).
$SNPS PR link.

eBay(PBR163) spinoff PayPal(NASDAQ: PYPL) in first day of public trading opens at $41.46, range $39.80-$42.55, closes at $40.47. MarketWatch PayPal stock info.

Adobe Systems(PBR557) hires Abhay Parasnis as Chief Technology Officer & SVP/platform technology and services. $ADBE PR link.

HealthSouth(PBR800) EVP/General Counsel & Secretary John Whittington retiring on 12/31/15. $HLS PR link.

Friday, July 17:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,086.54, +1.84% from last Friday, +2.65% MTD/QTD, +1.48% YTD.
NASDAQ closes week at 5,210.14(R), +4.25% from last Friday, +4.48% MTD/QTD, +10.01% YTD.
SPX closes week at 2,126.64, +2.41% from last Friday, +3.08% MTD/QTD, +3.29% YTD.

GameStop(PBR287) completes acquisition of ThinkGeek retailer parent Geeknet(NASDAQ: GKNT) for $20/share, $140 million. $GME PR link.

Yahoo!(PBR500) files with SEC to spinoff remaining holdings in Alibaba Group into an independent, publicly traded, registered investment company, as announced on 01/27/15, to close in 4th quarter. $YHOO PR link.

The US Dept of Labor says June Employee Average Earnings were $24.95/hour, 34.5 hours/week, $860.78/week, +2.0% from June 2014. USDOL PR link.

The US Dept of Labor says the June Consumer Price Index for All Items was +0.3% over May, +0.1% over the last 12 months. USDOL PR link.

The US Dept of HUD says the June Private Housing Units Building Permits were at a 1,343,000 annual rate, +7.4% over May, +30.0% over June 2014 HUD PR link.

Thursday, July 16:
Amazon’s(PBR37) first Prime Day sales exceed Black Friday 2014 by 18%, 34.4 million items sold. $AMZN PR link.

Enterprise Products(PBR56) to sell its offshore Gulf of Mexico assets to Genesis Energy(PBR553) for $1.5 billion cash. $EPD PR link.

Mondelez(PBR85) completes acquisition of 80% stake in Vietnam’s leading snacks business Kinh Do for $370 million. $MDLZ PR link.

Hertz(PBR249) completes restatements of annual reports, to separate its equipment rental business, implementing cost reduction program. $HTZ PR link.

McGraw Hill(PBR477) Platts division acquires shipping & oil industries news & analysis provider Petromedia. $MHFI PR link.

Groupon(PBR750) acquires OrderUp to power nationwide food ordering & delivery. $GRPN PR link.

Dollar Tree(PBR329) promotes Mike Witynski to COO. $DLTR PR link.

Fifth Third Bancorp(PBR345) hires Lars Anderson to be EVP/COO on 08/03/15. $FITB PR link.

Hershey Co(PBR347) hires Peter Horst as new Chief Marketing Officer, effective 07/27/15. Mike Wege now SVP/Chief Admin Officer. $HSY PR link.

Domino’s Pizza(PBR927) promotes Jeff Lawrence to EVP/CFO, succeeds Mike Lawton who is retiring at the end of August. $DPZ PR link.

Wednesday, July 15:
Amazon(PBR37) Studios announces Spike Lee’s Chi-Raq as first ever Amazon original movie. $AMZN PR link.

Nike(PBR98) gets $169 million apparel deal from 08/01/16 through 2027 with University of Michigan, MarketWatch article link.

Kinder Morgan(PBR198) to purchase 100% of Shell’s equity interest in the Elba LNG Liquefaction joint venture for $630 million. $KMI PR link.

Corning(PBR332) authorizes $2 billion shares repurchase program, expires 12/31/16. $GLW PR link.

Molina Healthcare(PBR375) to enter Chicago market with acquisition of Medicaid assets of 61,000 member MyCare Chicago. $MOH PR link.

Anixter(PBR398) to acquire the distributor Power Solutions segment of HD Supply for $825 million. $AXE PR link.

Netflix(PBR534) grows by 3.3 million subscribers in 2nd Quarter, now has over 65 million subscribers worldwide. $NFLX PR link.

Walter Energy(PBR920) reaches restructuring agreement with senior lendors, files for Chapter 11 bankruptcy. $WLTG PR link.

Gannett(PBR458) hires Kevin Gentzel as its first Chief Revenue Officer. $GCI PR link.

Juniper Networks(PBR501) hires Susan Lovegren as SVP/Human Resources, Bob Worrall as SVP/CIO. $JNPR PR link.

The US Dept of Labor says the June Producer Price Index for final demand was +0.4% over May, -0.7% for 12 months ended in June. USDOL PR link.

The US Federal Reserve Board in its G17 report says June Industrial Production was +0.3%, +1.5% over June 2014; Capacity Utilization was at 78.4% USFRB PR link.

The US Federal Reserve Board releases its latest Beige Book, overall districts are generally optimistic. USFRB PR link.

Tuesday, July 14:
Danaher(PBR139) completes $2.6 billion deal that combines its Communications unit with a subsidiary of NetScout Systems(NASDAQ: NTCT). $DHR PR link.

Molina Healthcare(PBR375) to acquire Medicaid assets of 25,000 member S. Florida firm Preferred Medical Plan. $MOH PR link.

Celgene(PBR381) to acquire immune/metabolics therapeutics developer Receptos(NASDAQ: RCPT) for $232/share, $7.2 billion. $CELG PR link.

Barnes & Noble(PBR388) approves publicly held Barnes & Noble Education spinoff, scheduled for 08/02/15, to start trading on 08/03/15 with symbol NYSE: BNED. $BKS PR link.

IAC(PBR669) soon to be spinoff The Match Group to acquire fellow dating site PlentyOfFish for $575 million. $IACI PR link.

WPX Energy(PBR713) to acquire privately held Permian Basin assets based RKI Exploration for $2.35 billion. $WPX PR link.

Guess?(PBR751) Co-Founder/CEO Paul Marciano announces that Victor Herroro to be new CEO in August. $GES PR link.

The US Dept of Commerce in advance report says June Retail & Food Sales were at $442.0 billion, -0.3% from May, +1.4% from June 2014. USDOC PR link.

Monday, July 13:
Valero Energy(PBR10) adds $2.5 billion to its available $400 million for stock repurchases. $VLO PR link.

Comcast(PBR44) to roll out $15/month TV streaming service across the US by the end of 2016, starting in Boston. $CMCSA PR link.

Medtronic(PBR161) to acquire detection/prevention of retained surgical items device company RF Surgical Systems for $235 million. $MDT PR link.

Computer Sciences(PBR209) files Form 10 for government services spinoff Computer Sciences GS, separation planned for October. $CSC PR link.

BorgWarner(PBR339) to acquire rotating electrical components producer Remy International for $29.50/share, $1.2 billion, to close in 4th quarter. $BWA PR link.

Jarden(PBR341) to acquire disposable tableware manufacturer The Waddington Group from private equity firm Olympus Partners for $1.35 billion. $JAH PR link.

PG&E(PBR175) announces promotion of several senior officers as part of restructuring program. $PCG PR link.

Jacobs Engineering(PBR213) hires Steven Demetriou as President/CEO, effective 08/17/15, to succeed retiring Craig Martin. $JEC PR link.

Dana Holding(PBR367) hires Jim Kamsickas as President/CEO, effective 08/11/15, succeeds retiring Roger Wood. $DAN PR link.

Xylem(PBR581) appoints Shashank Patel as Interim CFO upon resignation of Mike Speetzen, effective 07/30/15. $XYL PR link.

The US Dept of the Treasury says the June Surplus was $51.8B on Receipts of $342.9B. YTD Deficit is $313.4B. Treasury PR link.

Friday, July 10:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,760.41, +0.17% from last Thursday, +0.80% MTD/QTD, -0.35% YTD.
NASDAQ closes week at 4,997.70, -0.23% from last Thursday, +0.22% MTD/QTD, +5.52% YTD.
SPX closes week at 2,076.62, -0.01% from last Thursday, +0.65% MTD/QTD, +0.86% YTD.

Halliburton(PBR94) $34.6 billion acquisition of Baker Hughes(PBR124) deadline extended to 12/01/15 for time to satisfy US Dept of Justice requirements. $BHI PR link.

Edwards Lifesciences(PBR879) to acquire CardiAQ Valve Technologies for up to $400 million. $EW PR link.

Biogen(PBR358) R&D leader Doug Williams, PhD, leaving to become CEO of a startup, new R&D co-leaders announced. $BIIB PR link.

Tesla(PBR887) hires Ganesh Srivats to be in charge of North American Sales. $TSLA PR link.

The US Dept of Commerce says that May Merchant Wholesalers Sales were $449.8 billion, +0.3% from April, -3.8% from May 2014. USDOC PR link.

Thursday, July 9:
T-Mobile US(PBR115) adds 2.1 million customers in 2nd quarter, up 41% over previous year. $TMUS PR link.

eBay(PBR170) trying to sell e-commerce Enterprise unit, losing Toys R Us as a major client who plans to do its own e-commerce. MarketWatch article link.

Avon(PBR267) sells its UK based natural skincare line Liz Earle to Walgreens Boots Alliance(PBR36) for $215 million cash. $AVP PR link.

Coty(PBR524) to merge Proctor & Gamble’s(PBR32) Beauty Business into Coty in deal valued at $12.5 billion. $COTY PR link.

Charles River Labs(PBR1058) to acquire rapid bacterial detection equipment provider Celsis International for $212 million cash. $CRL PR link.

Walgreens Boots Alliance(PBR36) Interim CEO Stefano Pessina named CEO. $WBA PR link.

Conn’s(PBR1052) hires Thomas Moran as CFO, effective 07/27/15. $CONN PR link.

Wednesday, July 8:
The PBR1000 June 2015 Stocks/Commodities Snapshots summary is posted. Blog post.

Microsoft(PBR30) restructuring phone hardware business, to reduce staff by up to 7,800. $MSFT PR link.

Enterprise Products(PBR56) completes purchase of all Eagle Ford Shale member interests of EFS Midstream for $2.15 billion. $EPD PR link.

Ingredion(PBR371) to acquire privately held natural fruits and vegetables concentrates producer Kerr Concentrates for $100 million. $INGR PR link.

CA Technologies(PBR520) completes $480 million acquisition of Agile software development & services provider Rally Software(NYSE: RALY). $CA PR link.

Curtiss-Wright(PBR771) expands stock repurchase program to $300 million. $CW PR link.

Walter Energy(PBR920) gets delisting notice from NYSE because of stock price non-compliance. $WLT PR link.

Micron Technology(PBR166) hires Trevor Schulze as Chief Information Officer. $MU PR link.

Fifth Third Bancorp(PBR345) President/COO Greg Carmichael to become President/CEO on 11/01/15, will succeed retiring Kevin Kabat. $FITB PR link.

Darden Restaurants(PBR393) hires Jeff Davis as SVP/CFO, effective 07/16/15, reports to CEO Gene Lee. $DRI PR link.

Sprouts Farmers Market(PBR789) hires Shawn Gensch as Chief Marketing Officer, Dan Sanders as EVP of store operations. $SFM PR link.

Acxiom(PBR1073) hires Jeremy Allen as President of $445 million Marketing Services Division. $ACXM PR link.

The US Federal Reserve says May Consumer Credit increased at 5.75% annual rate, Revolving Credit 2%, Nonrevolving Credit 7%. FRB PR link.

The US Federal Reserve in its Federal Open Market Committee minutes of its 06/16-17/15 meeting says that economic activity is expanding moderately after little 1st quarter change. FRB PR link.

Tuesday, July 7:
Cisco(PBR58) to acquire private cloud based service renewals firm MaintenanceNet for $139 million. $CSCO PR link.

Carnival Corp(PBR176) gets US approval for travel to Cuba, expects to start in May, 2016. $CCL PR link.

Allergan(PBR297) gets exclusive worldwide rights licensing agreement for Merck(PBR63) CGRP migraine development program for $250 million plus incentives. $MRK PR link.

Frontier Communications(PBR497) hires Kathleen Weslock as EVP/Chief People Officer, effective 07/13/15, reports to President/CEO Daniel McCarthy. $FTR PR link.

Xylem(PBR581) hires Kairus Tarapore as SVP/Chief Human Resources Officer, effective 07/27/15, reports to President/CEO Patrick Decker. $XYL PR link.

The US Dept of Labor says May Job Openings were at 5.4 million, hires at 5.0 million, separations at 4.7 million. USDOL PR link.

The US Dept of Commerce says May International Trade deficit was -$41.9 billion on exports of $188.6 billion, imports of $230.5 billion. USDOC PR link.

Monday, July 6:
Cardinal Health(PBR27) completes acquisition of generics/OTC medications distributor The Harvard Drug Group for $1.115 billion. $CAH PR link.

Dollar Tree(PBR329) completes $9.2 billion cash/stock acquisition of discount retailer Family Dollar(PBR252). $DLTR PR link.

Advance Auto Parts(PBR382) to replace recently acquired Family Dollar on the S&P500 on 07/08/15. $AAP PR link.

LINN Energy(PBR810) sells remaining Permian Basin Wolfcamp acreage for $281 million. $LINE PR link.

SunEdison(PBR888) and spinoff TerraForm Power to acquire 930 megawatt contracted wind portfolio from Invenergy for $2 billion. $SUNE PR link.

JPMorgan Chase(PBR20) Stacey Friedman to succeed Steve Cutler next year as General Counsel; Cutler to be appointed Vice Chairman. $JPM PR link.

Axiall(PBR503) EVP Timothy Mann appointed Interim President/CEO upon immediate retirement of Paul Carrico, new CEO search starts. $AXLL PR link.

Friday, July 3:
US Stock Markets Closed
in Observance of Independence Day.
Give Thanks & Celebrate
Our History and Freedoms.

Humana(PBR71) to be acquired by Aetna(PBR57) for $230/share, $37 billion cash/stock. $HUM PR link.

Thursday, July 2:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,730.11, -1.21% from last Friday, +0.63% MTD/QTD, -0.52% YTD.
NASDAQ closes week at 5,009.21, -1.40% from last Friday, +0.45% MTD/QTD, +5.77% YTD.
SPX closes week at 2,076.78, -1.18% from last Friday, +0.66% MTD/QTD, +0.87% YTD.

Kraft Foods(PBR145) & HJ Heinz complete merger, new company is Kraft Heinz Co, to start trading as NASDAQ: KHC on 07/06/15. $KRFT PR link.

Centene(PBR244) to acquire health care plans provider Health Net(PBR239) for $6.8 billion cash/stock, to close in early 2016. $CNC PR link.

Biogen(PBR358) & AGTC(NASDAQ: AGTC) enter collaboration to develop gene therapies in ophthalmology, Biogen payments could exceed $1 billion. $BIIB PR link.

Barnes & Noble(PBR388) names Ron Boire CEO of Retail, effective 09/08/15; spinoff of College unit planned for August. $BKS PR link.

Freescale Semiconductor(PBR548) & Netherlands based NXP Semiconductor(NASDAQ: NXPI) stockholders approve $11.8 billion merger, to close 2nd half 2015. $FSL PR link.

Aeropostale(PBR868) continues aggressive expansion in Asia with new licensing agreements in India & Indonesia. $ARO PR link.

SunEdison(PBR888) & Gamesa(BME: GAM) form joint venture to develop 1 gigawatt of wind power plants by 2018. $SUNE PR link.

Intel(PBR52) President Renee James leaving, other executive leadership changes announced. $INTC PR link.

The US Dept of Labor says Total June Nonfarm Employment rose by 223,000, compared with an average monthly gain of 250,000 over the prior 12 months. June Unemployment Rate drops 0.2% to 5.3%. USDOL PR link.

The US Dept of Commerce says May New Manufactured Goods Orders were down $4.5 billion, -1.0%, to $470.5 billion, down 9 of last 10 months. USDOC PR link.

Wednesday, July 1:
General Electric(PBR9) $3.3 billion sale of Appliances unit dened by US Dept of Justice; Swedish based Electrolux to fight decision. Electrolux PR link.

Hewlett-Packard(PBR19) Enterprise files Form 10 to become a separate publicly traded company, planned for November. $HPQ PR link.

INTL FCStone(PBR64) merges 3 US subsidiaries into INTL FCStone Financial Inc. $INTL PR link.

DuPont(PBR83) completes spinoff of its Performance Chemicals unit as The Chemours Company, trading as NYSE: CC. $DD PR link.

Hess Corp(PBR114) completes $2.675 billion sale of Bakken midstream assets, establishes Bakken Midstream joint venture with Global Infrastructure Partners valued at $5.35 billion. $HES PR link.

eBay(PBR170) PayPal unit buying international money transfers/remittances processor Xoom(NASDAQ: XOOM) for $25/share, $890 million. $EBAY PR link.

Baxter Intl(PBR179) spinoff Baxalta starts 1st day as biopharmaceutical with base of $6 billion in annual sales. $BXLT PR link.

Chubb Corp(PBR200) to be acquired by Ace Ltd(NYSE: ACE) for $28.3 billion cash/stock, expects to close in 1st quarter 2016. $CB PR link.

MeadWestvaco(PBR439) & Rock-Tenn(PBR278) complete merger, name combined company WestRock(NYSE: WRK)(PBR278). $WRK PR link.

CF Industries(PBR438) to acquire remaining 50% in UK based nitrogen production company GrowHow from Yara Intl for $580 million. $CF PR link.

McGraw Hill(PBR477) JD Power division acquires NADA Used Car Guide. $MHFI PR link.

Constellation Brands(PBR483) to acquire Napa Valley wine brand Meiomi from Copper Cane for $315 million. $STZ PR link.

Energizer Holdings(PBR527) completes spinoff of Household Products division, changes name to Edgewell Personal Care Company, now trading as NYSE: EPC. $EPC PR link.

Energizer Holdings(PBR527) completes spinoff as a public company from parent Edgewell Personal Care Co. $ENR PR link.

Apollo Global Mgmt(PBR531) acquires 2 million clients business/home security firm Protection 1 & also ASG Security. $APO PR link.

Patterson Cos(PBR563) to sell its medical business to Madison Dearborn Ptnrs for $715 million cash. $PDCO PR link.

Graham Holdings(PBR610) completes spin-off of separate publicly traded company Cable ONE(NYSE: CABO). $GHC PR link.

American Tower(PBR625) closes acquisition of 4,700 communication sites in Nigeria from Bharti Airtel. $AMT PR link.

Caesars Entertainment(PBR301) announces Mark Frissora has assumed role of President/CEO. $CZR PR link.

Peabody Energy(PBR355) promotes Amy Schwetz to EVP/CFO, upon resignation of Michael Crews. $BTU PR link.

Men’s Wearhouse(PBR781) hires Bruce Thorn as COO, reports to CEO Doug Ewert. $MW PR link.

The US Dept of Commerce reports that May Construction Spending was at a $1,035.8 billion annual rate, +0.8% from April, +8.2% from May 2014. USDOC PR link.

The PBR1000 June 2015 Breaking News Recap is posted on the BLOG page. You can also click here.

(The PBR1000 is the premiere comparative data and reporting service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate over $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to The PBR1000 subscribers. Users include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Order page.)

(Photo courtesy of freedigitalphotos.net, Sujin Jetkasettakorn.)

Filed Under: Recaps Tagged With: acquisitions, Business, business news, Economy, Investing, Leadership, mergers, Research, Stock Market, The PBR1000

The PBR1000: The April 2015 Breaking News Recap!

May 3, 2015 by admin

The 2016 Race for the US Presidency Has Started.
What Promises for Economic and Business Growth Can We Expect?

By Larry C. Paxton

Activity in The PBR1000 companies during April 2015 was a bit like the start of the 2016 race for the US presidency. There was some activity, like Hillary Clinton announcing her bid and then the quiet followup with her initial road trip. On the business side perhaps Apple(PBR4) came the closest by announcing the Apple Watch and accepting initial orders. The falling apart of the Comcast(PBR44)/Time Warner Cable(PBR125) merger provided some excitement and the Mylan(PBR36) dance with Perrigo(PBR564) and Israel based Teva Pharmaceuticals has provided some entertainment, too.

Following are The PBR1000 and economic news items of note for April 2015 starting with the last active day.

Thursday, April 30:
The PBR1000 Monthly US Stock Exchanges Snapshot:
DJIA closes month at 17,840.52, -1.33% from last Friday, +0.36% MTD/QTD, +0.10% YTD.
NASDAQ closes month at 4,941.42, -2.96% from last Friday, +0.83% MTD/QTD, +4.34% YTD.
SPX closes month at 2,085.51, -1.52% from last Friday, +0.85% MTD/QTD, +1.29% YTD.

AmerisourceBergen(PBR16) authorizes $1 billion shares buyback program. $ABC PR link.

Boulevard Acquisition(NASDAQ: BLVD) to acquire AgroFresh business from Dow Chemical(PBR48) for $810 million, make it a public company. $BLVD PR link.

Harley-Davidson(PBR417) to begin direct distribution to Canadian independent dealers in August per agreement with current exclusive distributor. $HOG PR link.

NII Holdings(PBR495) completes $1.875 billion sale of its Nextel Mexico operations to AT&T(PBR12). $NIHDQ PR link.

Crown Castle(PBR670) to acquire Quanta Services(NYSE: PWR) subsidiary fiber networks provider Sunesys for $1.0 billion cash. $CCI PR link.

Tesla(PBR887) CEO Elon Musk announces new Tesla battery energy storage emphasis for homes & businesses. $TSLAI PR link.

Sears Holdings(PBR82) & Macerich(PBR1090) create 50/50 joint venture Involving 9 Sears properties located at Macerich malls. $MAC PR link.

Discover Financial(PBR281) promotes Julie Loeger to SVP, Chief Marketing Officer for US Cards, reports to president/COO. $DFS PR link.

Booz Allen Hamilton(PBR437) promotes VP Gary Voellger to Chief Ethics & Compliance Officer, reports to President/CEO Horacio Rozanski. $BAH PR link.

Analog Devices(PBR738) promotes John Hassett to SVP Worldwide Manufacturing, reports to President/CEO Vincent Roche. $ADI PR link.

The US Dept of Commerce reports that March Personal Income & Personal Disposable Income was up less than 0.1% over February. USDOC PR link.

FreddieMac(PBR33) says homeowners who refinanced through the HARP program in 1Q15 are saving $290/mo on a $200,000 loan in the first year. $FMCC PR link.

FreddieMac(PBR33) says the Average 30 Year Fixed Mortgage Rate at 3.68% with 0.6 fees/points. $FMCC PR link.

Wednesday, April 29:
Express Scripts(PBR21) announces $5.5 billion accelerated shares repurchase transaction. $ESRX PR link.

Ashland(PBR404) completes $1.35 billion shares buyback program, authorizes a new $1 billion program to expire 12/31/17. $ASH PR link.

Perrigo(PBR564) rejects Mylan(PBR360) $75/share plus 2.3 Mylan shares offer, says still effectively below 1st offer. $PRGO PR link.

Israeli based Teva Pharmaceuticals(NYSE: TESA) sends letter to Mylan(PBR360) board justifying its $82/share, $43 billion offer. $TEVA PR link.

Mylan(PBR360) sends 3rd acquisition offer to Perrigo(PBR564), $75/share plus 2.3 Mylan shares, effective $232.23/share. $MYL PR link.

ITT Educational(PBR1078) CFO Dan Fitzpatrick retiring 10/29/15; 2015 enrollment at 51,201. $ESI PR link.

Kellogg Co(PBR188) promotes Paul Norman to President, North America, reports to Chairman/CEO John Bryant. $K PR link.

GrafTech(PBR1056) CFO Erick Asmussen leaving, VP Finance/Treasurer Quinn Coburn to also be Interim CFO. $GTI PR link.

The US Dept of Commerce reports that the 1Q15 Gross Domestic Product was at 0.2% annual rate, $17.71T, down from 4Q14 2.2%. GDP PR link.

The US Federal Reserve System Open Market Committee issues its latest statement on the US economy, no set timeframe to up interest rates from 0%, long term goal is 2%. FOMC PR link.

Tuesday, April 28:
Tyson Foods(PBR80) to eliminate human antibiotics from broiler chicken flocks by 2017. $TSN PR link.

T-Mobile US(PBR115) has 1.8 million net wireless subscriber adds during 1st quarter 2015, 8th consecutive quarter over 1 million. $TMUS PR link.

MasterCard(PBR310) to acquire cloud-based analytics provider Applied Predictive Technologies for $600 million. $MA PR link.

HRG Group(PBR412) completes $1.4 billion sale of Armored AutoGroup to subsidiary Spectrum Brands(PBR529). $HRG PR link.

Iron Mountain(PBR666) to acquire Australian based digital/physical document information management firm Recall Holdings for $2 billion. $IRM PR link.

UPS(PBR50) promotes Corporate Controller/Treasurer Richard Peretz to CFO, effective 07/01/15, succeeds retiring Kurt Kuehn. $UPS PR link.

Anadarko Petroleum(PBR193) promotes Darrell Hollek to EVP, US Onshore Production & Exploration, reports to Chairman/President/CEO Al Walker. $APC PR link.

JCPenney(PBR228) board member Mary Beth West joins as EVP, Chief Customer & Marketing Officer. $JCP PR link.

Apollo Education Group(PBR668) SVP/CFO Brian Swartz resigning effective 05/15/15, Joseph D’Amico named Interim CFO. $APOL PR link.

Endo International(PBR741) hires Matthew Maletta as EVP/Chief Legal Officer, effective 05/04/15, succeeds retiring Caroline Manogue. $ENDP PR link.

The US Dept of Commerce reports that the US Homeownership Rate for 1st quarter 2015 was at 63.7%, -1.1% from 1st quarter 2014, -0.3% from 4th quarter 2014. USDOC PR link.

Monday, April 27:
Freddie Mac(PBR33) reaches the $100 billion milestone in multifamily K-Deal securitizations. $FMCC PR link.

ESPN goes to court to force Verizon(PBR15) to change pay-TV offering The Street article link.

Applied Materials(PBR335) & Tokyo Electron terminate $29 billion merger agreement per US Dept of Justice requirements. $AMAT PR link.

Applied Materials(PBR335) authorizes $3 billion 3 year shares buyback program to start in the 3rd quarter. $AMAT PR link.

Mylan(PBR360) rejects Teva Pharmaceuticals(NYSE: TEVA) $82/share, $40 billion buyout offer as undervalued & risky. $MYL PR link.

Celgene(PBR381) to acquire private biotech cancer discovery company Quanticel Pharmaceuticals for $100 million plus up to $385 million based on milestones achieved. $CELG PR link.

Corinthian Colleges(PBR974) announces cessation of effectively all operations, all campuses now closed. $COCO PR link.

Flowserve(PBR477) hires Karyn Ovelmen as EVP/CFO, effective 06/01/15. $FLS PR link.

Fortune Brands(PBR551) hires Nicholas Fink as SVP of Global Growth & Development, effective 06/01/15. http://bit.ly/1dmvCL8$FBHS PR link.

Friday, April 24:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,080.14, +1.42% from last Friday, +1.71% MTD/QTD, +1.44% YTD.
NASDAQ closes week at 5,092.09(R), +3.25% from last Friday, +3.90% MTD/QTD, +7.52% YTD.
SPX closes week at 2,117.69(R), +1.75% from last Friday, +2.41% MTD/QTD, +2.86% YTD.

Comcast(PBR44) terminates $45 billion merger agreement with Time Warner Cable(PBR125) & transactions agreement with Charter Communications(PBR320). $CMCSA PR link.

DISH(PBR201) comments on termination of Comcast(PBR44)/Time Warner Cable(PBR125) merger. $DISH PR link.

Dover(PBR295) completes sale of its precision-engineered components Sargent Aerospace & Defense unit to RBC Bearings(NASDAQ: ROLL) for $500 million. $DOV PR link.

Mylan(PBR360) makes 2nd unsolicited bid for Perrigo(PBR564) for $60/share & 2.2 shares of Mylan, $33 billion cash/stock deal. $MYL PR link.

Perrigo(PBR564) rejects Mylan’s(PBR360) 2nd unsolicited $60 share & 2.2 shares acquisition offer saying it is less than the initial rejected offer. $PRGO PR link.

Scholastic Corp(PBR923) to sell educational technology & services business unit to Houghton Mifflin for $575 million. $SCHL PR link.

Riverbed Technology(PBR1085) acquisition by private equity firm Thomas Bravo & Ontario(Canada) Teachers Pension Plan for $21/share, $3.6 billion cash is completed, now a private company. $RVBD PR link.

Thursday, April 23:
Happy 451st Birthday, Shakespeare!

NASDAQ closes at 5,056.06, first new record close in over 15 years. NASDAQ PR link.

The US Dept of HUD reports that the March New Family Home Sales Annual Rate was at 481,000, -11.4% from February, +19.4% from March 2014. HUD PR link.

Wednesday, April 22:
45th Anniversary of Earth Day. Do something nice for the environment today.

AT&T(PBR12) reports 1.2 million total wireless net adds in 1st quarter, DIRECTV(PBR90) $67 billion acquisition on target for 2nd quarter. $T PR link.

Google(PBR46) announces Project Fi which includes a partnership with T-Mobile(PBR115) & Sprint(PBR162) to provide an optimal fast and easy wireless service. $GOOG PR link.

Coca-Cola Co(PBR59) signs additional letters of intent with Coca-Cola bottlers in refranchising effort. $KO PR link.

Macy’s(PBR97) does exclusive US launch of intimate apparel brand HEIDI by model/TV personality Heidi Klum. $M PR link.

Ashland(PBR404) promotes Luis Fernandez-Moreno to SVP & President of Chemicals Group, reports to chairman/CEO. $ASH PR link.

SunEdison(PBR888) promotes Pancho Perez to EVP/COO. $SUNE PR link.

The National Association of Realtors reports that the March Existing Home Sales were at a 5.19 million annual rate, +6.1% from February, +10.4% from March 2014. NAR PR link.

Tuesday, April 21:
General Motors(PBR7) sold 2.4 million vehicles worldwide in 1st quarter 2015. $GM PR link.

Verizon(PBR15) announces new FiOS customizable pay-TV service. $VZ PR link.

Archer-Daniels-Midland(PBR28) acquires corn processing plants in Bulgaria, Turkey, increases ownership stake in Hungary, for $258 million. $ADM PR link.

Humana(PBR71) acquires multi-state nurse practitioner in home visits provider Your Home Advantage, terms not disclosed. $HUM PR link.

Baker Hughes(PBR124) is cutting 17% of workforce, 10,500 positions, due to drop in oil prices. $BHI PR link.

Mylan(PBR360) is sent an $82/share, $40 billion in cash/stock offer to be acquired by Israel based Teva Pharmaceuticals(NYSE: TEVA). $MYL PR link.

Gannett(PBR458) says TEGNA is to be name of spin-off broadcasting/digital company, will trade as NYSE: TGNA. $GCI PR link.

Perrigo(PBR564) rejects unsolicited $205/share, $29 billion bid from Mylan(PBR360), says offer is undervalued. $PRGO PR link.

FMC Corp(PBR578) completes $1.8 billion acquisition of Denmark based multinational crop protection company Cheminova. $FMC PR link.

Monday, April 20:
Raytheon(PBR118) to invest $1.57 billion for majority ownership in venture with Vista Equity Partners’ Websense unit to provide cyber security services. $RTN PR link.

Groupon(PBR750) to sell 46% stake, retain a 41% stake, in Ticket Monster to partnership of KKR(PBR272)/Anchor Equity for $360 million. $GRPN PR link.

Prologis(PBR937) unit partnership to acquire real estate assets & operating platform of KTR Capital Partners for $5.9 billion. $PLD PR link.

Hyatt Hotels(PBR549) appoints Atish Shah as SVP, Interim CFO. $H PR link.

Friday, April 17:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,826.30, -1.28% from last Friday, +0.28% MTD/QTD, +0.02% YTD.
NASDAQ closes week at 4,931.81, -1.28% from last Friday, +0.63% MTD/QTD, +4.13% YTD.
SPX closes week at 2,081.18, -0.99% from last Friday, +0.64% MTD/QTD, +1.08% YTD.

Ford Motor(PBR8) to invest $2.5 billion to build new engine & transmission plants in Mexico. $F PR link.

Costco(PBR18) reauthorizes up to $4 billion shares repurchase program to expire in April, 2019. $COST PR link.

Raytheon(PBR118) awarded an over $2 billion contract for an international Patriot Air & Missile Defense System. $RTN PR link.

Alpha Natural Resources(PBR478) plans to restore compliance with NYSE minimum stock price average of $1.00/share over last 30 days. $ANR PR link.

Hudson City Bancorp(PBR1022) & M&T Bank Corp(PBR516) agree to extend merger deadline from 04/30/15 to 10/31/15, waiting for regulatory approval. $HCBK PR link.

New York Times(PBR982) promotes Meredith Kopit Levien to Chief Revenue Officer, reports to President/CEO Mark Thompson. $NYT PR link.

Centrus Energy(PBR1035) SVP/COO Bob Van Namen is stepping down on 05/29/15. $LEU PR link.

The US Dept of Labor reports that the March Current Average/Hour Earnings were at $24.86, up from February’s $24.79, up from March 2014’s $24.34. USDOL PR link.

The US Dept of Labor reports that the March Consumer Price Index-Urban was +0.2%, was -0.1% over the last 12 months. USDOL PR link.

Thursday, April 16:
PPG Industries(PBR183) to do 2:1 stock split after close on 06/12/15. $PPG PR link.

Ecolab(PBR204) to acquire the Travelers North Tower in St. Paul, MN, as new world headquarters. $ECL PR link.

Discover Financial(PBR281) authorizes $2.2 billion shares repurchase program. $DFS PR link.

Alliance Data(PBR540) increases 2015 stock repurchase program from $600 million to $1 billion. $ADS PR link.

Carlyle Group(PBR528) names former WalMart(PBR1) President/CEO Mike Duke as Operating Executive for the Consumer & Retail Group. $CG PR link.

SunEdison(PBR888) hires Cathy Zoi as CEO of its Rural Electric Utility Company unit. $SUNE PR link.

Cytec Industries(PBR901) promotes Carmelo Lo Faro, PhD, to VP/Chief Technology Officer. $CYT PR link.

The US Dept of Commerce reports that the March rate for Private Housing Building Permits was at 1,039,000/year, -5.7% from February, +2.9% from March 2014 USDOC PR link.

FreddieMac(PBR33) reports that 30 year fixed rate mortgages averaged 3.67% with 0.7 point for the week ending 04/16/15, was 4.27% a year ago FreddieMac PR link.

The American Petroleum Institute reports that March petroleum deliveries averaged 19.2 million barrels/day, -0.6% from February, +3.4% from March 2014. API PR link.

Wednesday, April 15:
Happy Income Tax Day!

Panera Bread(PBR794) increases shares repurchase program to $750 million, to sell/refranchise 73 company owned stores. $PNRA PR link.

Rackspace(PBR989) hires Scott Crenshaw as SVP Strategy & Product, reports to President/CEO Taylor Rhodes. $RAX PR link.

Freddie Mac(PBR33) hires Anil Hinduja as EVP/Chief Enterprise Risk Officer, reports to CEO Donald Layton. $FMCCX PR link.

CNA Financial(PBR263) hires Andrew Pinkes to be EVP CNA Worldwide Property & Casualty, reports to Chairman/CEO Tom Motamed, effective 05/18/15. $CNA PR link.

The US Federal Reserve Bank reports that Industrial Production was -0.6% in March, was +0.1% in February, -1.0% annual rate, effect of oil. FRB PR link.

The US Federal Reserve Bank releases the April Beige Book, summary of comments from businesses. FRB PR link.

Tuesday, April 14:
CSX(PBR224) authorizes $2 billion shares repurchase program over 24 months. $CSX PR link.

Host Hotels(PBR456) announces leadership reorganization in investment team for US West & East coasts. $HSTPR link.

The US Dept of Labor reports that the March Producer Price Index for Final Demand, a measure of inflation, was +0.2%, after -0.5% in February, -0.8% in January, -0.8% for the past 12 months. USDOL PR link.

The US Dept of Commerce reports in the Advance Report for Monthly Retail & Food Sales that March was at $441.4 billion, +0.9% from February, +1.3% over March 2014. USDOC PR link.

Monday, April 13:
Apple(PBR4) is estimated to have presold 1 million Apple Watches in the first weekend according to digital media analytics firm Slice Intelligence. SI PR link.

PepsiCo(PBR43) & NBA enter multiyear partnership; Chinese partner Tingyi’s Master Kong becomes basketball league beverage provider. $PEP PR link.

Sears Holding(PBR82) contributes 10 properties in 50/50 real estate partnership with Simon Property(PBR455). $SHLD PR link.

Citigroup(PBR26) CEO of Global Consumer Bank Manuel Medina-Mora retiring, Stephen Bird to succeed him on 06/01/15; other management changes announced. $C PR link.

Microsoft(PBR30) hires Kurt DelBene as EVP Corporate Strategy and Planning, reports to the CEO. $MSFT PR link.

Best Buy(PBR67) Chairman Hatim Tyabji to retire 06/09/15, CEO Hubert Joly to add role at that time. $BBY PR link.

eBay(PBR170) hires 3 executives to key leadership roles in preparation for spin-off. $EBAY PR link.

The US Dept of Treasury reports that for the 6 months through March Fiscal YTD Receipts were $1.42 trillion, Outlays $1.86 trillion, deficit $0.44 trillion. USDOT PR link.

Republican Senator from Florida Marco Rubio makes it official that he is a candidate to be the next US President. MR campaign link.

Sunday, April 12:
Former First Lady, Senator from New York, and Secretary of State Democrat Hillary Clinton announces that she is a candidate to be the next US President. HC campaign link.

Friday, April 10:
DJIA closes week at 18,057.65, +1.65% from last Thursday, +1.58% MTD/QTD, +1.31% YTD.
NASDAQ closes week at 4,995.98, +2.23% from last Thursday, +1.94% MTD/QTD, +5.49% YTD.
SPX closes week at 2,102.06, +1.70% from last Thursday, +1.65% MTD/QTD, +2.10% YTD.

Ford Motor(PBR8) reports it sold 296,825 vehicles in China during the 1st quarter, up 9% from last year. $F PR link.

General Electric(PBR9) in major restructuring to sell most of its GE Capital real estate assets for $26.5 billion to Blackstone(PBRPBR374) & Wells Fargo(PBR29); authorizes $50 billion shares buyback program through 2018. $GE PR link.

Blackstone Group(PBR374) to acquire retail REIT firm Excel Trust(NYSE: EXL) for $15.85/share, $2 billion. $EXL PR link.

The US Dept of Labor reports that the March US Import Prices Index was -0.3%, was +0.2% in February; the March US Exports Prices Index was +0.1%, was -0.2% in February. USDOL PR link.

Thursday, April 9:
eBay(PBR170) provides further information on plan to separate PayPal & working arrangements. $EBAY PR link.

Sprint(PBR162) to open 1,435 Sprint-RadioShack locations acquired by General Standard, to add 3,500 employees. $S PR link.

PG&E(PBR175) fined $1.6 billion by the California Public Utilities Commission for unsafe gas transmission lines operation, including the 2010 San Bruno pipeline rupture. CPUC PR link.

PG&E(PBR175) responds to CPUC $1.6 billion fine, says lessons will not be forgotten. $PCG PR link.

Avis Budget(PBR326) completes $160 million acquisition of largest independent Italian car rental company The Maggiore Group. $CAR PR link.

Harman Intl(PBR448) completes $780 million acquisition of private 8,000 employee $370 million/year software services company Symphony Teleca. $HAR PR link.

Acxiom(PBR1073) hires Rick Erwin to be President/GM of new division Audience Solutions, reports to CEO Scott Howe. $ACXM PR link.

The US Dept of Commerce says February Monthly Wholesale Sales were $444.2 billion, -0.2% from January, -1.5% from February 2014. USDOC PR link.

Wednesday, April 8:
Mylan(PBR360) bids $205/share, $29 billion cash/stock, for fellow generic drugmaker Perrigo(PBR564). $MYL PR link.

HanesBrands(PBR505) completes $200 million acquisition of seller of licensed collegiate logo apparel retailer Knights Apparel. $HBI PR link.

Netherlands based world’s 4th largest oil producer Royal Dutch Shell to acquire UK based liquid natural gas company BG Group for $70 billion in cash/stock. RDS PR link.

The US Federal Reserve Board releases the Federal Open Market Committee minutes from the 03/17-18/15 meeting. FRB PR link.

Tuesday, April 7:
FedEx(PBR61) to acquire Netherlands based logistics provider TNT Express for $8.73/share, $4.8 billion cash. $FDX PR link.

Halliburton(PBR94) to market for sale its drill bits, directional drilling and LWD/MWD businesses in connection with its Baker Hughes(PBR124) acquisition. $HAL PR link.

International Game Techology(PBR876) $6.4 billion acquisition by Italian based GTECH completed, to keep IGT name with headquarters in London. $IGT PR link.

ABM Industries(PBR489) names SVP Treasurer Anthony Scaglione as CFO, succeeds James Lusk who is leaving. $ABM PR link.

Frontier Communications(PBR497) promotes John Lass to EVP Field Operations, reports to CEO Dan McCarthy. $FTR PR link.

The US Dept of Labor in preliminary report says that there were 5.1million US Job Openings in February, 4.9 million hires, and 4.7 million separations. USDOL PR link.

The US Federal Reserve reports that February Consumer Credit at a seasonally adjusted annual rate of 5.6%, revolving credit at 5.0%, nonrevolving credit at 9.4%. USFRB PR link.

Monday, April 6:
Ventas(PBR707) to acquire private $2 billion/yr Ardent Health Care for $1.75 billion. $VTR PR link.

Ventas(PBR707) to spin-off post-acute/skilled nursing facility portfolio into a separate public REIT company 2nd half of 2015. $VTR PR link.

Health Care REIT(PBR693) VP Treasurer Mike Crabtree has retired as planned, Steve Schroeder promoted to the position. $HCN PR link.

Friday, April 3:
Good Friday Observed.
US Stock Exchanges Closed.

The PBR1000: The March 2015 Breaking News Recap is available. Click here for the blog post.

Tesla(PBR887) delivers 10,030 vehicles during the 1st quarter 2015, 55% more than in 2014. $TSLA PR link.

Hub Group(PBR623) promotes Vava Dimond to Chief Information Officer. $HUBG PR link.

BOK Financial(PBR1023) promotes Marc Maun to Chief Credit Officer, reports to President/CEO Steve Bradshaw. $BOKF PR link.

The US Dept of Labor reports that March Total Nonfarm Payroll Employment increased by only 126,000, unemployment rate stays at 5.5% USDOL PR link.

Thursday, April 2:
DJIA closes week at 17,763.24, +0.29% from last Friday, -0.07% MTD/QTD, -0.34% YTD.
NASDAQ closes week at 4,886.94, -0.09% from last Friday, -0.28% MTD/QTD, +3.19% YTD.
SPX closes week at 2,066.96, +0.29% from last Friday, -0.04% MTD/QTD, +0.39% YTD.

Group 1 Automotive(PBR291) has acquired $160 million/yr Prestige Audi in N Miami Beach, FL. $GPI PR link.

Simon Property(PBR455) authorizes 24 month $2 billion shares buyback program. $SPG PR link.

Expedia(PBR496) purchasing Amgen(PBR144) Seattle waterfront campus as headquarters location in 2018. $EXPE PR link.

Dynegy(PBR1000) completes $2.8 billion acquisition of Duke Energy(PBR111) Midwest 7 MWhr commercial generation & retail assets. $DYN PR link.

Ralph Lauren(PBR337) promotes Christopher Peterson to President, Global Brands, Mitchel Kosh to Chief Administration Officer, Robert Madore to CFO. $RL PR link.

Hershey Co(PBR347) promotes President/CEO John Bilbrey to the additional post of Chairman. $HSY PR link.

Mattel(PBR383) Chairman/Interim CEO Christopher Sinclair now CEO, retains Chairman position. $MAT PR link.

Cliffs Natural Resources(PBR422) EVP Business Development P. Kelly Tompkins now EVP/CFO, Clifford Smith now EVP Business Development. $CLF PR link.

Transdigm(PBR798) hires Terrance Paradie as EVP/CFO, to succeed Greg Rufus who is retiring. $TDG PR link.

The US Dept of Commerce reports that the preliminary February International Trade Balance was $186.2 billion in exports, $221.7 billion in imports, US deficit was $35.4 billion. USDOC PR link.

The US Dept of Commerce reports that the February New Orders for Manufactured Goods was up 0.2% over January to $468.3B, 1st up month in 6 months. USDOC PR link.

The US Dept of Labor reports that Unemployment Insured Initial Claims were at 268,000 for the week ending 03/28/15, 20,000 less than the previous week. USDOL PR link.

Wednesday, April 1:
Target(PBR38) to shut all 133 Canadian stores by 04/12/15. $TGT PR link.

AIG(PBR41) completes acquisition of Ireland’s 2nd largest health insurance provider, Laya Healthcare. $AIG PR link.

McDonald’s(PBR96) USA to increase wages on 07/01/15 to $1 above minimum wage at corporate locations, to at least $10/hr by end of 2016; also expanding employee benefits. $MCD PR link.

US Commodity Futures Trading Commission charges Kraft Foods(PBR145) & Mondelez(PBR85) with manipulation of wheat futures & cash wheat prices. CFTC PR link.

Celgene(PBR381) appoints Gerald Masoudi EVP, General Counsel & Corporate Secretary, succeeds retiring Lawrence Stein. $CELG PR link.

FMC Corp(PBR578) completes sale of Alkali Chemicals business to Tronox(PBR907) for $1.64 billion. $FMC PR link.

Carlisle Cos(PBR679) completes acquisition of Graco(PBR1072) Liquid Finishing business assets for $590 million cash. $CSL PR link.

Dynegy(PBR1000) completes $3.45 billion purchase of 6.3 gigawatts of power from Energy Capital Partners. $DYN PR link.

ADP(PBR220) reports that March Private Sector Employment grew by 189,000. $ADP PR link.

The US Dept of Commerce reports that the February annual construction rate was at $967.2 billion, -0.1% from January, +2.1% over February 2014. USDOC PR link.

California governor Jerry Brown issues executive order for state to reduce its water usage by 25%. CA Governor Newsroom PR link.

(Photo courtesy of freedigitalphotos.net, Stuart Miles.)

Filed Under: Recaps Tagged With: acquisitions, business news, Economy, Investing, Leadership, mergers, Personal Finance, Rankings, Stock Market, The PBR1000

The PBR1000: The March 2015 Breaking News Recap!

April 4, 2015 by admin

ID-100270408 Under Construction Supertrooper

After The 1st Quarter, 2015 Is Still Very Much Under Construction.

By Larry C. Paxton

With the end of March 2015 the 1st Quarter is in the books and it is with mixed results. The economy continues to show slow but steady progress, oil and key commodities prices were pretty stable, and reflected at the gas pump, which seems to have lead to higher consumer optimism about the future. The Federal Reserve Board continues to show restraint on raising interest rates, and justifiably so, based on their careful analysis. However, any whisper of an increase in interest rate creates a lot of volatility in the markets, with wide swings on several days throughout March. On the international scene the European Union seems focused on trying to find a resolution with Greece and its obligations, Ukraine is rarely in the news. China is trying to bolster its own economy which is still growing, but certainly not at the rapid pace of years past. The capturing the headlines towards the end of March were the nuclear power countries negotiating with Iran to delay or end its development of nuclear bomb material. So, there are some big question marks as we enter the second quarter, and these can result in huge opportunities or major setbacks, but will probably be somewhere in between. Based on results so far this year, 2015 is still very much under construction.

Following are The PBR1000 and economic news items of note for March 2015 starting with the last active day.

Tuesday, March 31:
DJIA closes month at 17,776.12, +0.36% from last Friday, -1.97% MTD, -0.26% QTD/YTD.
NASDAQ closes month at 4,900.89, +0.20% from last Friday, -1.26% MTD, +3.48% QTD/YTD.
SPX closes month at 2,067.89, +0.33% from last Friday, -1.74% MTD, +0.44% QTD/YTD.

IBM(PBR24) to invest $3 billion over 4 years to establish a new Internet of Things unit. IBM PR link.

Comcast(PBR44) & CFO Michael Angelakis to invest $4.1 billion to create new investment/operating global company. New CFO search starting. CMCSA PR link.

Arrow Electronics(PBR129) completes acquisition of 800 partners government sales specialist immixGroup. ARW PR link.

Charter Communications(PBR320) to acquire 6th largest US cable operator Bright House Networks for $10.4 billion. CHTR PR link.

CBRE Group(PBR346) to acquire Johnson Controls(PBR65) Global Workplace Solutions unit for $1.475 billion cash. CBG PR link.

RadioShack(PBR619) gets okay from bankruptcy judge to sell stores to hedge fund Standard General. Associated Press article PR link.

GNC(PBR739) selects agencies Consigliere, CROSSMEDIA, & 22squared for branding & marketing efforts. GNC PR link.

Macerich(PBR1090) rejects new $95.50/share, $23.5 billion unsolicited offer from Simon Property(PBR455). MAC PR link.

Chevron(PBR3) Vice Chairman & EVP Upstream George Kirkland to retire 06/15/15, Jay Johnson to become EVP Upstream. CVX PR link.

Cameron Intl(PBR269) appoints Justin Rounce as VP Marketing & Chief Technology Officer, reports to Chairman/CEO Jack Moore. CAM PR link.

Campbell Soup(PBR315) promotes Ed Carolan to SVP in new Integrated Global Services unit. CPB PR link.

Equifax(PBR817) promotes Trey Loughran to Chief Marketing Officer, succeeds Paul Springman who is retiring after 24 years. EFX PR link.

The US Dept of Commerce reports that the 4th Quarter 2014 US Net International Position was assets $24.7 billion, liabilities $31.6 billion, deficit of $6.9 billion. USDOC PR link.

Monday, March 30:
UnitedHealthcare(PBR14) OptumRx pharmacy care services unit to acquire pharmacy benefit management company Catamaran(PBR189) for $61.50/share, $12.8 billion. UNH PR link.

Archer-Daniels-Midland(PBR28) to acquire private Belgium based edible oils bottler/distributor AOR NV. ADM PR link.

Best Buy(PBR67) Canadian unit to close Future Shops, consolidate to 192 Best Buy locations, layoff 1,500 employees. BBY PR link.

Alcoa(PBR122) to curtail smelting capacity in Brazil by 04/15/15. AA PR link.

Avis Budget(PBR326) marks 100 million rental days in N America over past 12 months. CAR PR link.

Fortune Brands(PBR551) to acquire kitchen/bathroom cabinetry manufacturer Norcraft for $25.50/share, $600 million. FBHS PR link.

Perrigo(PBR564) completes buy of Belgium based over-the-counter healthcare products company Omega Pharma NV for $4.5 billion cash & equity. PRGO PR link.

American Tower(PBR625) completes acquisition of exclusive rights to 11,448 wireless communications sites from Verizon(PBR15) for $5 billion cash. AMT PR link.

GNC(PBR739) herbal products are in full compliance with FDA regulations, reaches agreement with the NY Attorney General for further testing. GNC PR link.

Tesla(PBR887) CEO Elon Musk tweets that there will be a major announcement on 04/30/15 regarding a new non-automotive product.

Enterprise Products(PBR56) announces CEO Mike Creel to retire 12/31/15; COO Jim Teague to become CEO; Fowler, Bulawa and Nelly promoted. EPD PR link.

Yahoo!(PBR500) hires Bryan Power as SVP Human Resources, reports to CEO Marissa Mayer. YHOO PR link.

TD Ameritrade(PBR651) CFO Bill Gerber retiring, hires Steve Boyle to be CFO in July. AMTD PR link.

New York Times(PBR982) promotes Kinsey Wilson EVP Product & Technology, reports to President/CEO Mark Thompson & Executive Editor Dean Baquet. NYT PR link.

The US Dept of Commerce reports that the February US Annual Personal Income was at $15.130 trillion, +3.9% over January, savings rate was at 5.8% of disposable income, was 5.5% in January. USDOC PR link.

Friday, March 27:
DJIA closes week at 17,712.66, -2.29% from last Friday, -2.32% MTD, -0.62% QTD/YTD.
NASDAQ closes week at 4,891.22, -2.69% from last Friday, -1.46% MTD, +3.28% QTD/YTD.
SPX closes week at 2,061.02, -2.23% from last Friday, -2.07% MTD, +0.10% QTD/YTD.

Chevron(PBR3) to sell off its 50% share in Caltex Australia. CVX PR link.

Johnson & Johnson(PBR39) Ethicon unit gets agreement to collaborate with Google(PBR46) on surgical robotics. JNJ PR link.

Dow Chemical(PBR48) to separate much of its chlor-alkali business which will merge with Olin Corp(PBR769) in $5 billion deal. DOW PR link.

Visteon(PBR338) receives antitrust approvals for sale of its 70% interest in S. Korea based 15,500 employee Halla Visteon Climate Control to Hahn & Co for $3.6 billion. VC PR link.

Dynegy(PBR1000) gets regulatory approval to buy 12,500 MW of coal & gas generation from Duke Energy(PBR111) & Energy Capital Partners(NR) for $6.25 billion. DYN PR link.

Davita Healthcare(PBR312) announces CFO Garry Menzel leaving, James Hilger named Interim CFO. DVA PR link.

Ascena Retail(PBR493) hires Brian Lynch as President/CEO of its Justice tween specialty retail unit. ASNA PR link.

QuikSilver(PBR925) President Pierre Agnes now CEO, Greg Healey promoted to President, founder Bob McKnight appointed Chairman. ZQK PR link.

Thursday, March 26:
Goodyear Tire(PBR137) has established its first Chinese development center in Pulandian. GT PR link.

Medtronic(PBR161) completes acquisition of minimally invasive hearing implant provider Sophono. MDT PR link.

Carnival Corp(PBR176) to add 9 new generation cruise ships over 4 year period starting in 2019. CCL PR link.

Dover(PBR295) selling its precision-engineered components Sargeant Aerospace & Defense unit to RBC Bearings(NASDAQ: ROLL) for $500 million. DOV PR link.

AAR Corp(PBR882) completes the sale of Telair Cargo Group to TransDigm(PBR798) for $725 million cash. AIR PR link.

Calumet Specialty(PBR443) promotes F William Grube to Executive Vice Chairman, hires Bill Hatch as Interim CEO, starting 04/01/15. CLMT PR link.

FreddieMac(PBR33) says 30 year fixed mortgage rates averaged 3.69% with 0.6 points in the last week. FreddieMac PR link.

Wednesday, March 25:
Comcast(PBR44) EVP/Chief Diversity Officer David Cohen says merger with Time Warner Cable(PBR125) moving to mid 2015 because of regulatory issues. CMCSA PR link.

Kraft Foods(PBR145) to be acquired by HJ Heinz with 51% ownership, to be Kraft Heinz, special $16.50/share dividend, $10 billion, to Kraft stockholders. KRFT PR link.

Brown-Forman(PBR575) increases share buyback program by $1 billion. BFB PR link.

Global Payments(PBR756) acquires European based Realex Payments for $110 million. GPN PR link.

Tuesday, March 24:
Merck(PBR63) adds $10 billion, total $11.7 billion, for shares buyback program. MRK PR link.

Hertz(PBR249) provides explanation for failure to file 10-K with SEC, has until 09/17/15. HTZ PR link.

Ross Stores(PBR260) to do 2:1 stock split on 06/11/15. ROST PR link.

AutoZone(PBR278) adds $750 billion to its ongoing shares buyback program. AZO PR link.

Group 1 Automotive(PBR291) has acquired $80 million/yr Dallas/Ft Worth area DFW Audi. GPI PR link.

Carlyle Group(PBR528) to acquire majority stake in 200 client $100 billion in assets Conifer Financial Services. CG PR link.

Lexmark Intl(PBR598) to acquire software developer Kofax(NASDAQ: KFX) for $11/share, $1 billion. LXK PR link.

Alliance One Intl(PBR804) responds to compliance issue by NYSE regarding strategies to get stock price at or above $1.00. AOI PR link.

Google(PBR46) hires Morgan Stanley(PBR81) CFO Ruth Porat as CFO, effective 05/26/15. GOOG PR link.

The US Dept of Labor reports that the February current average earnings/hr is $24.78, +0.1% from January, +2.0% from February, 2014 USDOL PR link.

The US Dept of Labor reports that the February Consumer Price Index-Urban was up 0.2% over January, 0.0% for the last 12 months. USDOL PR link.

The US Dept of HUD reports that February sales of new single family homes were at a 539,000 annual rate, +7.8% over January, +24.8% over February, 2014. HUD PR link.

Monday, March 23:
Humana(PBR71) to sell wholly owned subsidiary Concentra to a joint venture of Select Medical & Welsh Carson for $1.055 billion cash. HUM PR link.

American Electric Power(PBR177) to review strategic alternatives for its barge transportation business. AEP PR link.

Tenet Healthcare(PBR223) to own 50.1% of a joint venture with United Surgical to form largest US ambulatory surgery provider valued at $2.6 billion. THC PR link.

Tenet Healthcare(PBR223) to acquire UK based 9 hospital/clinic facilities Aspen Healthcare for $215 million cash. THC PR link.

Biogen Idec(PBR358) changes name to Biogen, keeps stock symbol. BIIB PR link.

ON Semiconductor(PBR710) changing its NASDAQ stock symbol from ONNN to ON on 04/06/15. ONNN PR link.

Carnival Corp(PBR176) promotes James Chedgy to VP, Global Financial Planning & Analysis, reports to Treasurer Josh Weinstein. CCL PR link.

The National Association of Realtors says February Existing Home Sales were at a 4.88 million annual rate, +1.2% over January, +4.7% over February, 2014. NAR PR link.

The White House issues a statement marking the 5th year anniversary of the signing of The Affordable Care Act, aka Obamacare. WH PR link.

Friday, March 20:
DJIA closes week at 18,127.65, +2.13% from last Friday, -0.03% MTD, +1.71% QTD/YTD.
NASDAQ closes week at 5,026.42, +3.17% from last Friday, +1.27% MTD, +6.13% QTD/YTD.
SPX closes week at 2,108.10, +2.66% from last Friday, 0.17% MTD, +2.39% QTD/YTD.

RadioShack(PBR619) notifies SEC of its intent to de-list from the NYSE on 03/31/15. RSHCQ PR link.

Macerich(PBR1090) confirms new $95.50/share, $23.5 billion unsolicited offer from Simon Property(PBR455). MAC PR link.

AVX(PBR1003) Chairman/CEO John Gilbertson resigning effective 03/31/15, John Sarvis to be promoted to CEO on 04/01/15. AVX PR link.

BOK Financial(PBR1023) announces resignation of COO Dan Ellinor, Stacy Kymes promoted to new position of EVP Corporate Banking. BOKF PR link.

Thursday, March 19:
American Express(PBR86) gets exclusive multi-year co-brand deal with Charles Schwab(PBR442). AMEX article link.

SeaWorld(PBR1002) hires Joel Manby to be CEO effective 04/07/15, David D’Alessandro to remain Chairman. SEAS article link.

FreddieMac(PBR33) says the 30 Year Fixed Mortgage Rate averaged 3.78% with 0.6 point for week ending 03/19/15, was 4.32% year ago. Freddie Mac PR link.

Wednesday, March 18:
Target(PBR38) employees to receive $9 minimum wage next month UPI article link.

Starbucks(PBR164) reaffirms 7 strategies to grow market cap to $100 billion, to test delivery services. SBUX PR link.

Starbucks(PBR164) announces 2:1 stock split after 04/08/15 closing. SBUX PR link.

Ocwen Financial(PBR881) to sell $9.6 billion portfolio of mortgage servicing rights to Green Tree(NR). OCN PR link.

ITT Educational(PBR1078) provides update on failure to file required 10-K report to SEC. ESI PR link.

TreeHouse Foods(PBR819) promotes Christopher Sliva to EVP/COO. THS PR link.

Tuesday, March 17:
Happy St. Patrick’s Day!

Actavis(PBR297) completes $70.5 billion acquisition of Allergan(PBR392), combined company expects $23 billion in 2015 revenues. ACT PR link.

Becton Dickinson(PBR305) completes $12.2 billion acquisition of CareFusion(PBR580). BDX PR link.

Charter Communications(PBR320) shareholders approve issuance of shares in transactions with Comcast(PBR44). CHTR PR link.

Brookdale Senior Living(PBR692) & HCP(PBR866) to acquire 35 private pay senior living communities from Chartwell Retirement Residences for $849 million. HCP PR link.

Greenbrier Cos(PBR839) gets $1.09 billion in orders for 10,100 railcars. GBX PR link.

Equinix(PBR852) to become an S&P 500 component after close on 03/20/15. EQIX PR link.

Macerich(PBR1090) board rejects Simon Property(PBR455) $91/share, $22.4 billion unsolicited offer, feels it was undervalued. MAC PR link.

Groupon(PBR750) hires Carol Campagnolo as SVP Human Resources & Jay Sullivan as SVP Consumer Product. GRPN PR link.

The Dept of HUD reports that preliminary February New Housing Permits were at a 1,092,000 annual rate, +3% over January, +7.7% over February 2014. HUD PR link.

Monday, March 16:
The PBR1000 February Snapshots, 15 analytical reports on 1,081 public companies in Excel format, has been released.

General Electric(PBR9) selling its GE Capital Australia & New Zealand Consumer Lending Business for $6 billion enterprise value to a consortium of investors that includes KKR(PBR272). GE PR link.

Henry Schein(PBR276) to become an S&P 500 component on 03/18/15. HSIC PR link.

Blackstone Group(PBR374) to acquire Chicago’s 3.8 million sf, 110 stories tall, 2nd tallest office building in the US, Willis Tower, terms not disclosed. BX PR link.

McGraw Hill(PBR482) S&P500 unit to add American Airlines Group(PBR103) to its index, will replace Allergan(PBR392) which is being acquired by Actavis(PBR297). MHFI PR link.

Babcock & Wilcox(PBR637) files registration statement to form an independent public spinoff of its power generation business. BWC PR link.

Diebold(PBR696) acquires Canada based ATM software developer 200 employee Phoenix Interactive. DBD PR link.

A. Schulman(PBR787) to acquire specialty engineered plastics company Citadel Plastics for $800 million. SHLM PR link.

Endo Health(PBR741) withdraws its $175/share, $11 billion cash & stock offer for Salix Pharmaceuticals(SLXP) because of competing Valeant bid. ENDP PR link.

Coca-Cola Enterprises(PBR317) EVP/Supply Chain Bill Douglas retiring, Ronald Lewis to rejoin as SVP/Supply Chain. CCE PR link.

Visteon(PBR338) President/CEO Timothy Leuliette to step down by end of 2015, search firm retained. VC PR link.

Spectrum Brands(PBR529) promotes COO Andreas Rouve to CEO, to succeed retiring Dave Lumly. SPB PR link.

Friday, March 13:
DJIA closes week at 17,749.31, -0.60% from last Friday, -2.11% MTD, -0.41% QTD/YTD.
NASDAQ closes week at 4,871.76, -1.13% from last Friday, -1.85% MTD, +2.87% QTD/YTD.
SPX closes week at 2,053.40, -0.86% from last Friday, -2.43% MTD, -0.27% QTD/YTD.

MGM Resorts(PBR270) promotes Nik Rytterstrom to General Manager of the Las Vegas Luxor Resort; Renee West, president of Luxor & Excalibur Resorts, to retire on 04/24/15. MGM PR link.

Facebook(PBR327) acquires shopping site TheFind. TheFind PR link.

The US Dept of Labor reports that private industry employers spent an average of $31.32/hr worked for employee compensation in December 2014, $46.50/hr for union workers. USDOL PR link.

The US Dept of Labor reports that the February Producer Price Index for final demand fell 0.5%, decreased 0.6% for the 12 months ended in February. USDOL PR link.

Thursday, March 12:
Amazon(PBR37) launches Amazon Exclusives store featuring new innovative products from popular up and coming brands, including some from TV show “Shark Tank.” AMZN PR link.

Dollar General(PBR153) to open new 730 stores in 2015, move/remodel 875 stores, has $1.2 billion available for shares buyback. DG PR link.

Gannett(PBR458) on track to spin-off new publicly held broadcasting/digital company in mid 2015. GCI PR link.

RadioShack(PBR619) in 8-K filing states that since it is in Chapter 11 stockholders should not expect to receive any recovery funds. RSHCQ PR link.

Children’s Place Retail(PBR934) in outlook says it expects to close 200 stores in 2013-2017. PLCE PR link.

Dollar General(PBR153) EVP/CFO David Tehle resigning effective 07/01/15, internal/external search starts. DG PR link.

FreddieMac(PBR33) reports that 30 year fixed mortgage rates averaged 3.86% with 0.6 point for week ending 03/12/15, 3.75% last week, 4.37% a year ago. FreddieMac PR link.

The US Dept of Commerce reports that advance estimate of February retail/food services sales were $437.0 billion, -0.6% from January, +1.7% above February 2014. USDOC PR link.

The US Dept of Treasury says February US government receipts were $139 billion, outlays $332 billion, deficit $192 billion, deficit YTD(5 mos) is $387 billion. Treasury PR link.

Wednesday, March 11:
United Technologies(PBR45) exploring strategic alternatives for its Sikorsky helicopter unit, including possible public spin-off. UTX PR link.

The US Federal Trade Commission charges DIRECTV(PBR90) with deceptively advertising the cost of its satellite television service. FTC PR link.

KKR(PBR272) to acquire Air Medical Group which handles 75,000 medical emergencies annually. KKR PR link.

PetSmart(PBR359) acquisition by a consortium led by pan-Euopean buyout investor BC Partners for $83/share, $8.7 billion cash is completed, being delisted from NASDAQ. PETM PR link.

Ingredion(PBR371) completes acquisition of specialty ingredients provider Penford Corp for $340 million. INGR PR link.

Endo Health(PBR741) makes unsolicited acquisition offer to Salix Phamaceuticals(SLXP) for $175/share cash & stock, $11 billion. ENDP PR link.

The US Federal Reserve Board completes evaluations of “stress tests”(CCAR) of major financial institutions. FRB PR link.

Because of the US Federal Reserve Board CCAR results the following organizations authorize shares buyback programs:
American Express(PBR86) up to $6.6 billion
Bank of America(PBR22) $4 billion
Bank of New York Mellon up to $3.1 billion
Citigroup(PBR26) up to $7.8 billion
Discover Financial(PBR281) up to $2.2 billion
JPMorgan Chase(PBR20) up to $6.4 billion
PNC Financial(PBR171) up to $2.875 billion
State Street(PBR259) up to $1.8 billion
US Bancorp(PBR131) $3 billion

FreddieMac(PBR33) in March US Economic/Housing Market Outlook says 2015 to be best year for home sales since 2007. FreddieMac PR link.

The US Dept of Labor reports that private industry employers spent an average of $31.32/hour worked in December 2014, $21.72/hour worked, $9.60/hour in benefits. USDOL PR link.

Tuesday, March 10:
Express Scripts(PBR21) reports that 2014 US prescription drug spending increased 13.1%, driven by Hepatitis C & compounded medications. ESRX PR link.

Target(PBR38) files 8-K announcing layoff of 1,700, to save $100 million. TGT PR link.

Actavis(PBR297) $66 billion acquisition of Allergan(PBR392) approved at both shareholders meetings, expected to close in 2-4 weeks. AGN PR link.

The Pantry(PBR331) shareholders approve acquisition by Quebec, Canada based Alimentation Couche-Tard for $36.75/share, $1.7 billion deal. PTRY PR link.

First Solar(PBR628) & SunPower(PBR772) forming 8point3 Energy Partners limited partnership to own/operate a portfolio of selected solar generation assets, IPO paperwork filed. FSLR PR link.

Sprouts Farmers Market(PBR789) announces closing of sale of all remaining shares held by affiliates of Apollo Global Management(PBR531). SFM PR link.

AmSurg(PBR1077) physician services division, Sheridan, completes acquisition of 50+ radiologists practice Radiology Associates of Hollywood, FL. AMSG PR link.

Google(PBR46) files 8-K regarding CFO Patrick Pichette’s retirement within next 6 months. GOOG PR link.

The US Dept of Labor reports that there were 5.0 million job openings on the last business day of January, little changed from December. Hires decreased to 5.0 million and separations were little changed at 4.8 million in January. USDOL PR link.

The US Dept of Commerce reports that January merchant wholesalers sales were $433.7 billion, down 3.1% from December, down 1.0% from the January 2014 level. USDOCL PR link.

Monday, March 9:
Apple(PBR4) announces Apple Watch, to be available 04/24/15 in 9 countries, retails for $349 to $10,000. AAPL PR link.

General Motors(PBR7) authorizes an initial $5 billion shares buyback program, targets $20 billion cash balance. GM PR link.

Macy’s(PBR97) completes acquisition of 60 locations luxury beauty products & spa services retailer Bluemercury for $210 million cash. M PR link.

QUALCOMM(PBR104) authorizes $15 billion shares buyback program, will use $10 billion over next 12 months. QCOM PR link.

Alcoa(PBR122) to acquire titanium & specialty metal products manufacturer RTI(NYSE: RTI) in a $1.5 billion stock deal. AA PR link.

Barnes & Noble(PBR388) investing in college study materials provider Flashnotes.com. BKS PR link.

Harbinger Group(PBR412) changes name to HRG Group; president Omar Asali adds CEO title. HRG PR link.

Simon Property(PBR455) proposes to buy fellow mall developer/manager Macerich(PBR1090) for $91/share, $22.4 billion, which includes $6.4 billion of debt. SPG PR link.

Gaming & Leisure Properties(NASDAQ: GLPI makes unsolicited $4.1 billion offer to buy Pinnacle Entertainment(PBR993) assets. GLPI PR link.

The US Congressional Budget Office estimates a deficit of 2.7% of GDP in 2015, 2.4% the next 3 yrs, then rise. By 2025 public debt is estimated to be at 77% of GDP. CBO PR link.

Friday, March 6:
DJIA closes week at 17,856.78, -1.52% from last Friday & MTD, +0.19% QTD & YTD.
NASDAQ closes week at 4,927.37, -0.73% from last Friday & MTD, +4.04% QTD & YTD.
SPX closes week at 2,071.26, -1.58% from last Friday & MTD, +0.60% QTD & YTD.

Dow Jones announces that Apple(PBR4) will replace AT&T(PBR12) on the DJIA on 03/19/15. DJ PR link.

Alcoa(PBR122) doing strategic review of smelting & refining capacity worldwide for possible divestiture. AA PR link.

PetSmart(PBR359) shareholders approve acquisition by a consortium led by pan-Euopean buyout investor BC Partners for $83/share, $8.7 billion cash, expected to close on 03/11/15. PETM PR link.

Orbital ATK(PBR494) designed & built Dawn spacecraft now orbiting dwarf planet Ceres. OA PR link.

NII Holdings(PBR495) announces a new restructuring plan to emerge from Chapter 11. NIHDQ PR link.

The US Food & Drug Administration approves its first biosimilar medication for use in the US, Sandoz’s Zarxio. FDA PR link.

The US Dept of Labor reports that Total Nonfarm Payroll Employment was up by 295,000 in February, the Unemployment Rate is at 5.5%. USDOL PR link.

The US Federal Reserve Board reports that January Consumer Credit increased at an annual rate of 4.25%, revolving credit -1.5%, nonrevolving credit +6.25%. FRB PR link.

The US Dept of Commerce reports that the January International Trade of Goods and Services deficit was $41.8 billion, down $3.8 billion from December. USDOC PR link.

Thursday, March 5:
3M(PBR92) releases revised paper policy providing leading-edge protection for forests, endangered species, and forest communities worldwide. MMM PR link.

SunEdison(PBR888) acquires energy storage operating projects, pipeline, and project origination team from Solar Grid Storage. SUNE PR link.

Airgas(PBR463) to promote SVP/HR Pamela Claypool to President, Airgas North Division up retirement of Shaun Powers in August, will report to Andrew Cichocki, President, Airgas USA. ARG PR link.

Clearwater Paper(PBR913) VP of Supply Chain Patrick Burke to become President, Consumer Products Division, upon retirement of Thomas Colgrove at end of the quarter. CLW PR link.

Centrus Energy(PBR1035) hires Daniel Poneman, former US deputy secretary of energy, as president/CEO. LEU PR link.

The US Dept of Labor reports that the 4th quarter 2014 Nonfarm Business Sector Labor Productivity decreased at a 2.2 percent annual rate, output increased 2.6 percent and hours worked increased 4.9 percent. USDOL PR link.

The US Dept of Commerce reports that New Orders for Manufactured Goods in January, down 6 consecutive months, was -$0.9 billion, or -0.2%, to $470.0 billion. USDOC PR link.

The PBR1000 Index for February is 298,638.22, +3.24% over January, -0.90% QTD/YTD, +21.46% over 12/31/13.

Wednesday, March 4:
McDonald’s(PBR96) USA announces new antibiotics policy & menu sourcing initiatives. MCD PR link.

AbbVie(PBR142) to acquire hematology oncology Imbruvica developer Pharmacyclics(NASDAQ: PCYC) for $21 billion. ABBV PR link.

Bristol-Myers Squibb(PBR165) gets FDA approval for lung cancer treatment Opdivo. BMY PR link.

Baxter Intl(PBR179) acquires German based private autoimmune& allergic disease treatment biopharma company SuperMol for $225 million. BAX PR link.

HanesBrands(PBR505) previously announced 4:1 stock split is effective today. HBI PR link.

Brocade Communication(PBR836) completes acquisition of Riverbed Technology’s(PBR1085) SteelApp assets. BRCD PR link.

Alcoa(PBR122) hires José Aurélio Drummond as President of Alcoa Latin America, effective 03/09/15. AA PR link.

AECOM(PBR309) CEO Michael Burke adds Chairman title, effective 03/04/15. ACM PR link.

ADP(PBR220) reports that the February private sector jobs increased by 212,000, down 38,000 from January. ADP PR link.

The US Federal Reserve Board releases latest Beige Book, reports moderate economic growth in most districts. FRB PR link.

Tuesday, March 3:
Citigroup(PBR26) selling its OneMain credit service to Springleaf(NYSE: LEAF) for $4.25 billion. C PR link.

Target(PBR38) to cut $2 billion in costs over next 2 years, grow digital channel by 40%/year, open stores with more flexible formats. TGT PR link.

Best Buy(PBR67) resumes authorized $5 billion shares buyback program, to use $1 billion over next 3 years. BBY PR link.

Alcoa(PBR122) completes acquisition of private German titanium products $100 million/yr, 600 employees, company TITAL. AA PR link.

Stryker Corp(PBR288) authorizes additional $2 billion shares buyback program to $583 million currently available. SYK PR link.

Arthur J Gallagher(PBR647) acquires NationAir Aviation Insurance of W Chicago, IL. AJG PR link.

Frontier Communications(PBR497) Pres/COO Daniel McCarthy to become Pres/CEO on 04/03/15, CEO Maggie Wilderotter to become Exec Chair. FTR PR link.

Hubbell(PBR646) hires Maria Lee as VP, Corporate Strategy & Investor Relations, reports to SVP/CFO William Sperry. HUBB PR link.

Brinker Intl(PBR688) hires Tom Edwards, Jr, as EVP/CFO, effective 03/16/15. EAT PR link.

Other News Highlights: House of Representatives passes the Homeland Security Funding bill passed by the Senate; Israeli Prime Minister Benjamin Netanyahu warns US of Iran nuclear threats in historic joint meeting of Congress.

Monday, March 2:
Costco(PBR18) enters multi-year co-brand credit card agreement with Citigroup(PBR26) & co-brand incentive agreement with VISA(PBR212). COST PR link.

Cardinal Health(PBR27) to acquire Johnson & Johnson’s(PBR39) cardiac/endovascular medical products unit Cordis for $1.944 billion cash. CAH PR link.

Arrow Electronics(PBR129) to acquire 800 partners government sales specialist immixGroup. ARW PR link.

eBay’s(PBR170) PayPal unit is acquiring mobile payments provider Paydiant for $280 million. EBAY PR link.

Avis Budget(PBR326) to acquire the largest independent Italian car rental company The Maggiore Group for $170 million. CAR PR link.

Boston Scientific(PBR349) to acquire urology portfolio from Endo Intl’s(PBR741) American Medical Systems unit for up to $1.65 billion cash. BSX PR link.

Arthur J Gallagher(PBR647) acquires NJ based wholesale brokers Excel Insurance Services & Metcom Excess. AJG PR link.

Heartland Payment Systems(PBR859) acquires private national payroll service provider Payroll 1. HPY PR link.

Lumber Liquidators(PBR1093) responds to “60 Minutes” episode regarding product safety issues. LL PR link.

Archer-Daniels-Midland(PBR28) makes several leadership appts, including div presidents, SVP, & CTO. ADM PR link.

AECOM(PBR309) hires Carla Christofferson as EVP, General Counsel. ACM PR link.

Axiall(PBR503) announces departure of George Biltz, Chief Strategy Officer, to take a CEO position in another company. AXLL PR link.

DeVry(PBR906) hires Lisa Sodeika as SVP External Relations, succeeds Sharon Thomas Parrott who is retiring. DV PR link.

The US Dept of Commerce reports that January Personal Income was at a $15.062 trillion annual rate, up 0.3% over December. USDOC PR link.

The US Dept of Commerce reports that January Construction Spending was at a $971.4 billion annual rate, -1.1% from December, +1.8% from January 2014. USDOC PR link.

Sunday, March 1:
The PBR1000: The February 2015 Breaking News Recap is available. Click here for the blog post.

Netherlands based NXP Semiconductor (NASDAQ: NXPI) & Freescale Semiconductor (PBR548) agree to merger in $11.8 billion deal, to close 2nd half of 2015. FSL PR link.

(Photo courtesy of freedigitalphotos.net, Supertrooper.)

Filed Under: Recaps Tagged With: acquisitions, Business, Investing, Leadership, mergers, Rankings, Stock Market, The PBR1000

The PBR1000: The February 2015 Breaking News Recap!

March 2, 2015 by admin

ID-100207743 Graphic-World Business-KROMKRATHOG

The Global Market Place Was Very Active In February 2015! By Larry C. Paxton

February 2015 started out with a classic battle on the American football field with Super Box XLIX. The global market place also had many ongoing battles, and several of them have yet to be played out. The recent dramatic drop in oil prices continues to be a major driver. The Eurozone granted Greece a 4 month extension on its loans. The Ukraine/Russia ceasefire is fragile. The Middle East remains unsettled. In the US the government struggled over issues of the Keystone XL Pipeline. There was the funding of the Department of Homeland Security with or without some implications to President Obama’s immigration directives. The Federal Communications Commission approved some controversial net-neutrality regulations. Several major acquisitions were closed. Throughout it all some of the US stock exchanges reached new highs. Annual reports were submitted with mixed results. So, the battles continue. Let’s see what happens as we finish the first quarter of 2015!

Following are The PBR1000 and economic news items of note for February 2015 starting with the last active day.

Friday, February 27:
DJIA closes week at 18,132.70, -0.04%% from last Friday, +5.64% MTD, +1.74% QTD & YTD.
NASDAQ closes week at 4,963.53, +0.15% from last Friday, +7.08% MTD, +4.80% QTD & YTD.
SPX closes week at 2,104.50, -0.27% from last Friday, +5.49% MTD, +2.21% QTD & YTD.

Mylan(PBR360) completes $5.3 billion stock deal for acquisition of Abbott’s(PBR127) non-US developed markets specialty & branded generics business. MYL PR link.

Targa Resources(PBR377) completes $7.7 billion acquisition of Atlas Energy(PBR748). TRGP PR link.

Cooper-Standard(PBR654) acquires 95% of China based Huayu-Cooper Standard Sealing Systems, has 9 manufacturing facilities & 2 technical centers. CPS PR link.

Kroger(PBR25) SVP/Human Resources Katy Barclay retiring in the Fall of 2015, Timothy Massa will take over HR responsibilities. KR PR link.

Priceline(PBR365) promotes Paul Hennessy to become CEO of the priceline.com division on 04/01/15. CEO Chris Soder to become division Chairman. PCLN PR link.

The US Dept of Commerce in 2nd Estimate says 4th quarter Gross Domestic Product was at a 2.2% annual rate, $17.7 trillion. USDOC PR link.

Thursday, February 26:
Gap Inc(PBR168) approves $1 billion shares buyback program, adds to $7.25 billion repurchased since 2010. GPS PR link.

Catamaran Corp(PBR189) to acquire pharmacy benefit management client Healthcare Solutions for $405 million. CTRX PR link.

Ross Stores(PBR260) authorizes $1.4 billion shares buyback program through fiscal year 2016. ROST PR link.

Harley-Davidson(PBR417) to add Canada for direct distribution to independent dealers. HOG PR link.

Chico’s FAS(PBR748) to do a $250 million shares buyback program, open 40 new stores, close 120 existing stores, cut headcount by 12%. CHS PR link.

Hershey Co(PBR347) hires Patricia Little as SVP/CFO starting 03/16/15. HSY PR link.

Alaska Air(PBR459) hires Charles Breer as Managing Director of Alliances. ALK PR link.

FreddieMac(PBR33) says 30 year fixed mortgage rates for the week ending 02/26/15 averaged 3.80% with 0.6 points/fees. FM PR link.

The US Federal Communications Commission votes in favor of internet net-neutrality regulations. FCC PR link.

The US Dept of Labor reports that the January Consumer Price Index for All Urban Consumers (CPI-U) declined 0.7% in January on a seasonally adjusted basis, down 0.1% over the last 12 months before seasonal adjustment. USDOL PR link.

The US Dept of Labor reports that Real Earnings in January averaged $24.75/hour, 34.6 hours/week, $856.35 per week. USDOL PR link.

Wednesday, February 25:
Starwood Hotels(PBR405) announces partnership with rider service Uber for guests to earn Starpoints rewards. HOT PR link.

Frontier Communications(PBR497) gets strategic partnership to provide its internet subscribers TiVo(NASDAQ: TIVO) DVR services. FTR PR link.

SunEdison(PBR888) announces plan to electrify 20 million people by 2020 in underserved areas around the world. SUNE PR link.

McGraw Hill(PBR482) Chairman Terry McGraw not standing for re-election on 04/29/15, board proposes independent Director Ed Haldeman as non-Exec Chairman. MHFI PR link.

The US Dept of HUD reports preliminary January New Home Sales were at a 481,000 units annual rate with a $294,300 median price. HUD PR link.

Tuesday, February 24:
AmerisourceBergen(PBR16) completes acquisition of animal health distribution company MWI Veterinary Supply(PBR673) for $190/share, $2.5 billion. ABC PR link.

Comcast(PBR44) increases shares repurchase authorization to $10 billion, $4.25 billion allocated for 2015. CMCSA PR link.

HanesBrands(PBR505) to acquire seller of licensed collegiate logo apparel retailer Knights Apparel in deal valued at $200 million. HBI PR link.

Mondelez Intl(PBR85) hires Roberto Marques as EVP & President, North America, starting mid March. MDLZ PR link.

VMware(PBR454) hires Bask Iyer as SVP, Chief Information Officer, starting 03/23/15, will report to EVP/CFO/COO Jonathon Chadwick. VMW PR link.

Flowers Foods(PBR590) announces EVP Gene Lord is retiring 04/24/15 after almost 50 years of service. FLO PR link.

Charles River Labs(PBR1058) announces EVP/CFO Thomas Ackerman is retiring in 2016, SVP David Smith to be successor, other promotions announced. CRL PR link.

Monday, February 23:
Apple(PBR4) to build 100% renewable energy data centers in Ireland & Denmark for $2 billion. AAPL PR link.

Mondelez Intl(PBR85) announces $2 billion cash tender offer for certain notes. MDLZ PR link.

3M(PBR92) to acquire Polypore’s $210 million in revenues Separations Media business for $1 billion. MMM PR link.

American Airlines(PBR103) to sell its Telair Cargo Group to TransDigm(PBR798) for $725 million cash, expected to close by 05/31/15. AAL PR link.

Medtronic(PBR161) acquires private bladder control products company Advanced Uro-Solutions, terms not disclosed. MDT PR link.

Bristol-Myers Squibb(PBR165) to expand immuno-oncology pipeline by acquiring Flexus Biosciences for $1.25 billion. BMY PR link.

Baxter Intl(PBR179) says mid-2015 public spin-off biopharma Baxalta to locate headquarters in 260,000 sf facility in Bannockborn, IL. BAX PR link.

Keurig Green Mountain(PBR499) repurchasing 5.2 million shares from Luigi Lavazza SpA(NR) for $620 million. GMCR PR link.

Armstrong World(PBR717) to separate into 2 publicly held companies through spin-off of Flooring business to shareholders in 1st quarter 2016. AWI PR link.

Ocwen Financial(PBR881) selling $9.8 billion portfolio of mortgage servicing rights to Nationstar. OCN PR link.

Stifel Financial(PBR885) to expands wealth management/fixed income capabilities with acquisition of private Sterne Agee Group, transaction value around $150 million. SFN PR link.

DISH Network(PBR201) President/CEO Joseph Clayton to retire 03/31/15, Founder/Chairman Charles Ergen to add those roles. DISH PR link.

Darden Restaurants(PBR393) promotes Interim CEO Gene Lee to CEO & member of the board. DRI PR link.

JetBlue(PBR441) announces leadership EVP promotions for HR, Operations, other areas. JBLU PR link.

M&T Bank(PBR516) promotes Janet Coletti to EVP/Human Resources, succeeds Steve Braunscheidel who is retiring in 03/15. MTB PR link.

The National Association of Realtors reports that the January annual rate of sales of existing homes was at 4.82 million, down 4.9% from December. NAR PR link.

Friday, February 20:
DJIA closes week at 18,140.44(R), +0.67% from last Friday, +5.68% MTD, +1.78% QTD & YTD.
NASDAQ closes week at 4,955.97, +1.27% from last Friday, +6.92% MTD, +4.64% QTD & YTD.
SPX closes week at 2,110.30(R), +0.63% from last Friday, +5.78% MTD, +2.50% QTD & YTD.

Targa Resources(PBR377) acquisition of Atlas Energy(PBR748) for $7.7 billion approved by shareholders of both companies, expected to close 02/27/15. Targa PR link.

Energizer Holdings(PBR527) to spin-off Personal Care Division on 07/01/15 as a separate public company with the name Edgewell Personal Care(NYSE: EPC). Household Products Division to retain Energizer Holdings name and stock symbol. ENR PR link.

Thursday, February 19:
The Federal Trade Commission files a lawsuit against the proposed Sysco(PBR60) & US Foods(NR) merger, creates a foodservice distributor with 75% of the market. FTC PR link.

Ball Corp(PBR304) proposes to acquire UK based metal beverage can maker Rexam(LSE: REX) for $8.4 billion cash/stock. BLL PR link.

Priceline(PBR365) announces a $3 billion shares buyback program in its 4th Quarter/Full Year report. PCLN PR link.

LabCorp(PBR419) completes the $5.7 billion acquisition of Covance(PBR747). LH PR link.

Wednesday, February 18:
Citigroup(PBR26) announces $100 billion 10 year commitment to finance sustainable growth activities. C PR link.

Anthem(PBR40) completes acquisition of Florida 196,000 Medicaid/Medicare members company Simply Healthcare. Anthem PR link.

Actavis(PBR297) to take Allergan name after its $66 billion acquisition of Allergan(PBR392). Actavis PR link.

Crown Holdings(PBR298) completes acquisition of Monterrey, Mexico, 1500 employee, aluminum can/bottle manufacturer EMPAQUE from Heineken NV. CCK PR link.

Campbell Soup(PBR315) introducing cost savings program, to simplify organization structure, will save $200 million/year. CPB PR link.

Homebuilder NVR(PBR544) announces a $300 million shares buyback program. NVR PR link.

GEO Group(PBR991) completes acquisition of 8 correctional & dentention facilities with 6,500 beds from LCS Corrections Services for $312 million. GEO PR link.

Cubic Corp(PBR1008) combines two defense units into one $800 million revenues Cubic Global Defense segment, William Toti named president. CUB PR link.

Lockheed Martin(PBR62) promotes Rod Makoske to SVP/Corp Engineering, Tech, & Operations, also corporate officer; Keoki Jackson promoted to Chief Technology Officer. LMT PR link.

Flowserve(PBR477) SVP/CFO Mike Taff leaving 03/31/15, VP Malcolm Platt named interim CFO. FLS PR link.

Ciena Corp(PBR870) hires Marcus Starke SVP/Chiem Marketing Officer, reports to President/CEO Gary Smith. CIEN PR link.

The US Dept of Labor says the January Producer Price Index for Final Demand was -0.8%, was unchanged for the last 12 months USDOL PR link.

The US Dept of HUD reports that the January Privately-Owned Housing Starts were at a 1,065,000 annual rate, -2.0% from revised Dec estimate of 1,087,000. HUD PR link.

FreddieMac(PBR33) releases its February US Economic & Housing Market Outlook. FMCC PR link.

Tuesday, February 17:
DuPont(PBR83) sends letter to shareholders regarding its direction, responds to Trian Fund Mgmt letter. DD PR link.

Halliburton(PBR94) $34.6 billion acquisition of Baker Hughes(PBR124) to be voted on by shareholders of both companies on 03/27/15. HAL PR link.

Arrow Electronics(PBR129) acquires the United Technical Publishing division of Hearst Business Media(NR). ARW PR link.

Actavis(PBR297) receives temporary injunction for generic $1.1 billion market asthma treatment Pulmicort RESPULES. ACT PR link.

Boston Scientific(PBR349) to pay Johnson & Johnson(PBR39) $600 million for merger agreement breach in Guidant buy in 2006. BSX PR link.

Carlyle Group(PBR528) acquires controlling stake in global sports travel & event management company PrimeSport Holdings from Clearlake Capital(NR). CG PR link.

Fossil Group(PBR638) to design, develop & distribute Kate Spade(PBR1040) New York watches through 2025 through global licensing agreement. FOSL PR link.

Arthur J Gallagher(PBR647) acquires Phoenix, AZ, based private placement life insurance distributor Cohn Financial Group. AJG PR link.

Ford(PBR8) hires John Casesa as Group VP/Global Strategy, reports to President/CEO Mark Fields. F PR link.

Kraft Foods(PBR145) announces James Kehoe rejoining Kraft as EVP/CFO. KRFT PR link.

FirstEnergy(PBR187) announces Tony Alexander to resign as Executive Chairman on 04/30/15, director George Smart to return to his prior role as Chairman at that time. FE PR link.

Owens & Minor(PBR285) President/CEO James Bierman to retire upon election of a successor. OMI PR link.

Starwood Hotels(PBR405) President/CEO Frits van Paasschen resigns, director Adam Aron appointed Interim CEO. HOT PR link.

Alaska Air(PBR459) promotes Andrew Harrison to EVP/Chief Revenue Officer. ALK PR link.

SandRidge Energy(PBR892) hires Steve Turk as EVP/COO effective 03/02/15. SD PR link.

The Whitehouse reports that 11.4 million people have signed up for private health insurance under the Affordable Care Act. WH PR link.

Monday, February 16:
Presidents’ Day. US stock exchanges, most US federal, state, and local government offices are closed.

Mondelez Intl(PBR85) acquires private 40 product US snacking company Enjoy Life Foods, terms not disclosed. MDLZ PR link.

Ball Corp(PBR304) acquires 2 Canton, Ohio, area 100 employee metal end & closure facilities from Sonoco Products(PBR485). Ball PR link.

Crown Castle(PBR670) is exploring the sale of its wireless infrastructure Australian subsidiary. CCI PR link.

Friday, February 13:
DJIA closes week at 18,019.35, +1.09%% from last Friday, +4.98% MTD, +1.10% QTD & YTD.
NASDAQ closes week at 4,893.84, +3.15% from last Friday, +5.58% MTD, +3.33% QTD & YTD.
SPX closes week at 2,096.99(R), +2.02%% from last Friday, +5.11% MTD, +1.85% QTD & YTD.

American International Group(PBR41) authorizes $2.5 billion shares buyback program, repurchased $4.9 billion in 2014. AIG PR link.

Enterprise Products(PBR56) completes $5.9 billion acquisition of Oiltanking Properties, to operate as a wholly owned subsidiary. EPD PR link.

Actavis(PBR297) to divest its outsourcing/R&D unit Aptalis Pharmaceutical Technologies to private investment firm TPG. Actavis PR link.

Heartland Payment Systems(PBR859) has acquired POS companies Dinerware & pcAmerica, adds to previous POS acquisitions. HPY PR link.

General Dynamics(PBR91) appoints L Flynn EVP Aerospace Group, M Burns president of Gulfstream, M A Gilliland EVP HR/Admin, various effective dates. GD PR link.

Avery Dennison(PBR402) hires Anne Bramman as SVP/CFO. AVY PR link.

Thursday, February 12:
American Express(PBR86) announces co-brand & merchant acceptance agreements with Costco(PBR18) to expire 03/31/16. AMEX PR link.

Anixter(PBR398) to sell its OEM Supply-Fasteners segment to American Industrial Partners(NR) for $380 million cash. Anixter PR link.

Expedia(PBR496) to acquire global online travel company Orbitz Worldwide(NYSE: OWW) for $12/share, $1.6 billion cash. Expedia PR link.

Energen(PBR941) allocating $1 billion for drilling & development in 2015, selling majority of San Juan Gas assets for $395 million. Energen PR link.

Kraft Foods(PBR145) promotes George Zoghbi to COO, Chris Kempczinsk to EVP, Growth Incentives & President, International; CFO, CMO, & EVP R & D departing. Kraft PR link.

ConAgra Foods(PBR149) names former Hillshire Brands president/CEO Sean Connolly as its next CEO, effective 04/06/15, to succeed retiring CEO Gary Rodkin. ConAgra PR link.

The US Dept of Commerce in advance report says January 2014 retail & food services was at $439.8 billion, up $14.2 billion from January 2013. USDOC PR link.

The US Dept of Labor reports that for the week ending 01/31/15 the total insured unemployment was at 2,354,000, 1.8% insured unemloyment rate. USDOL PR link.

Wednesday, February 11:
Rite Aid(PBR108) to acquire independent pharmacy benefit manager EnvisionRx for $2 billion. Rite Aid PR link.

Arrow Electronics(PBR129) to acquire Taiwan based $500 million/yr Asian electronic component distributor ATM Electronic Corp. AE PR link.

Corinthian Colleges(PBR974) receives suspension/delisting notice from NASDAQ, to be effective 02/17/15, for failure to file annual 10-K report on a timely basis. CC PR link.

CSX(PBR224) promotes Oscar Munoz to President, retains COO title. Cindy Sanborn promoted to EVP-Operations, reports to Munoz. CSX PR link.

Alaska Air(PBR459) appoints Jay Gupta Managing Director of Infrastructure & Modern Platforms in IT Services division, oversees data, call centers. Alaska Air PR link.

Ascena Retail(PBR493) promotes SVP Financial Planning & Analysis Robb Giamatteo to CFO. Ascena PR link.

Amkor Technology(PBR676) appoints Dr. Choon Heung Lee EVP Worldwide Manufacturing Operations, succeeds retiring JooHo Kim, reports to President/CEO Steve Kelley. Amkor PR link.

Louisiana-Pacific Corp(PBR869) makes several changes in executive leadership effective 03/01/15, including sales & marketing. L-P PR link.

The US Dept of Treasury reports January receipts of $307.6 billion, outlays of $324.3 billion, deficit of $17.5 billion, fiscal YTD deficit of $194.2 billion. USDOTr PR link.

Tuesday, February 10:
First Solar(PBR628) announces Apple(PBR4) has committed to a $848 million, 25 year, 130 megawatt solar power purchase deal. FS PR link.

International Game Technology(PBR876) stockholders approve $6.4 billion acquisition led by Italian based GTECH. IGT PR link.

Home Depot(PBR35) is filling more than 80,000 positions for the spring season. HD PR link.

The US Dept of Commerce preliminary report says that December 2014 wholesalers sales were $449.8 billion, -0.4% from November, but +1.4% from December 2013. USDOC PR link.

The US Dept of Labor reports that there were 5.0 million job openings on the last business day of December(4.8 million in November), the highest level since January 2001. USDOL PR link.

Monday, February 9:
General Dynamics(PBR91) authorizes repurchase of up to 10 million shares on the open market. GD PR link.

Federal-Mogul(NASDAQ: FDML) completes $385 million acquisition of the TRW Automotive(PBR154) German based 4,000 employee engine valve business. F-M PR link.

Alliant Techsystems(PBR494) completes spin-off of its Sporting Goods business as Vista Outdoor, which will start trading on 02/10/15 as NYSE: VSTO, then completes merger with Orbital Sciences(PBR1019), renamed Orbital ATK, to start trading as NYSE: OA on 02/10/15. Orbital ATK PR link.

Alcoa(PBR122) names Nahla Azmy VP/Investor Relations, appoints Kelly Pasterick VP Global Financial Processes, Global Primary Products. Alcoa PR link.

BlackRock(PBR262) appoints Deborah Winshell as Managing Director/Global Impact Investing, for social/environmental causes, will also oversee global philanthropy program. BlackRock PR link.

The Andersons(PBR428) Grain Group President Denny Addis retiring in May, Ethanol Group President Neill McKinstray to assume leadership over both groups. The Andersons PR link.

Aeropostale(PBR868) EVP/CFO Marc Miller becoming COO, David Dick joining as SVP/CFO on 02/17/15. Aeropostale PR link.

Avista Corp(PBR973) names Kevin Christie VP of Customer Solutions, retains external communications, community outreach, philanthropy and other responsibilities. Avista PR link.

CBL & Assoc(PBR1082) names appointments for director of accounting, SVP planning/redevelopment, VP shared services, VP development/redevelopment, VP development. CBL PR link.

Friday, February 6:
DJIA closes week at 17,824.29, +3.84%% from last Friday & MTD, +0.01% QTD & YTD.
NASDAQ closes week at 4,744.40, +2.36% from last Friday & MTD, +0.18% QTD & YTD.
SPX closes week at 2,055.47, +3.03%% from last Friday & MTD, -0.17% QTD & YTD.

The Pantry(PBR331) sets 03/10/15 for special shareholders meeting to vote on acquisition by Quebec, Canada based Alimentation Couche-Tard for $36.25/share, $1.7 billion deal. Pantry PR link.

Harris Corp(PBR469) to buy global aerospace, defense, information & other technologies Exelis(NYSE: XLS) for $23.75/share, $4.75 billion. Harris PR link.

Cablevision(PBR397) president Brian Sweeney to also become CFO on 03/01/15, report to CEO James Dolan. Cablevision PR link.

The US Dept of Labor reports that total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate was little changed at 5.7%. USDOL PR link.

The US Federal Reserve reports that December consumer credit increased at an annual rate of 5-1/2%. FRB PR link.

Standard & Poor’s lowers Greece Long-Term Rating from ‘B’ to ‘B-‘, kept on CreditWatch negative. S&P PR link.

Thursday, February 5:
Verizon(PBR15) announces $15.54 billion in deals with Frontier Communications(PBR497) & American Tower(PBR625), authorizes $5 billion shares buyback program. Verizon PR link.

Anthem(PBR40) confirms patient records were hacked, CEO statement. Anthem PR link.

Actavis(PBR297) to divest rights to branded respiratory portfolio in US/Canada to AstraZeneca for $600+ million. Actavis PR link.

RadioShack(PBR619) reaches asset purchase agreement for affiliate of Standard General to acquire up to 2,400 stores, also filing for Chapter 11 bankruptcy. RadioShack PR link.

W.R. Grace(PBR657) to split into 2 independent public companies to be named later, Catalyst & Materials Technologies, and Construction Products & Darex packaging. WRG PR link.

Brocade Communication(PBR836) to acquire assets of Riverbed Technology(PBR1085). Brocade PR link.

Greenbrier Cos(PBR839) appoints Brad Skinner as SVP, Business Development, other appointments mentioned. GreenbrierPR link.

Brown & Brown(PBR1020) hires B Carl Owen as CIO, reports to EVP/CFO R Andrew Watts. B&BPR link.

The US Dept of Commerce reports that the international trade of goods & services deficit was $46.6 billion in December, up $6.8 billion from November. USDOC PR link.

FreddieMac(PBR33) reports that the average 30 year fixed mortgage rate ending 02/05/15 was 3.59% with 0.7 fees/points. FreddieMac PR link.

The US Dept of Labor reports that annual nonfarm labor average productivity increased 0.8% from 2013 to 2014. USDOL PR link.

Wednesday, February 4:
Staples(PBR120) to acquire Office Depot(PBR235) in $6.3 billion cash/stock deal. OD PR link.

GNC(PBR739) agrees to NY Attorney General request to halt sales of certain herbal supplements, stands behind product quality. GNC PR link.

Under Armour(PBR809) has acquired 20 million user mobile sports tracking Denmark based Endomondo for $85 million cash, to acquire 80 million online user health goals US based MyFitnessPal for $475 million. UA PR link.

Caesars Entertainment(PBR301) announces Mark Frissora joining as CEO designee, to become CEO on 07/01/15. CE PR link.

Harley-Davidson(PBR417) names President/COO Matt Levatich to become President/CEO after retirement of Keith Wandell on 05/01/15. H-D PR link.

ADP(PBR220) reports that there were 213,000 new private sector jobs in January, down from 253,000 in December. ADP PR link.

FreddieMac(PBR33) reports that borrowers who refinanced in 2014 to save net $5 billion in interest over 1st 12 mos compared to $20 billion in 2013. FreddieMac PR link.

Tuesday, February 3:
Auto Industry Update:
GM US January sales were 202,786 vehicles, up 18% over last year. PR link
Ford US January sales were 178,351 vehicles, up 15% over last year. PR link
Fiat Chrysler US January sales were 145,007 vehicles, up 14% over last year. PR link .

Ford(PBR8) hiring 1,550 for F-150 plants. Ford PR link.

Archer-Daniels-Midland(PBR28) to sell 50% stake in Northern Brazil export terminal, to quadruple capacity. ADM PR link.

Macy’s(PBR97) to acquire luxury beauty products & spa services retailer Bluemercury for $210 million cash. Click here for the Macy’s press release.

JM Smucker(PBR427) to acquire 2,500 employee pet food & snacks producer Big Heart Pet Brands for $5.8 billion cash/stock, includes $2.6 billion debt. Click here for the JMS press release.

FMC Corp(PBR578) selling its Alkali Chemicals business to Tronox(PBR907) for $1.64 billion. FMC PR link.

Wendy’s(PBR777) to sell 500 corp restaurants to franchisees, open 1,000 new restaurants by 2020. Wendy’s PR link.

Macy’s(PBR97) announces several senior executive changes & appointments to deepen focus on omnichannel profitable sales growth. Click here for the Macy’s press release.

SunEdison(PBR888) appoints Paul Gaynor, former First Wind CEO, as EVP N American Utility & Global Wind. SunEdison PR link.

The NY Attorney General asks major retailers to halt sales of certain herbal supplements, DNA tests fail to confirm listed active ingredients. NYAG PR link.

The US Dept of Commerce reports that new orders for manufactured goods in December were down 5 consecutive mos, decreased $16.4 billion, -3.4%, to $471.5 billion. USDOC PR link.

Monday, February 2:
Sysco(PBR60) to sell 11 US food distribution centers to Performance Food Group, contingent on successful Sysco-US Foods merger. Click here for the Sysco press release.

Mylan(PBR360) to acquire certain female healthcare businesses from India based Famy Care for up to $800 million. Mylan PR link.

Kindred Healthcare(PBR481) completes $1.8 billion acquisition of Gentiva Health(PBR944). KND PR link.

FMC Corp(PBR578) acquires global rights for new broadleaf weed herbicide from Japan based Kumiai Chemical. FMC PR link.

Arthur J Gallagher(PBR647) acquires specialty insurance broker Aequus Trade Credit. AJG PR link.

Cerner(PBR687) completes acquisition of Siemens Health Services for $1.3 billion cash. Cerner PR link.

Intuitive Surgical(PBR829) approves an up to $1 billion shares buyback program. Click here for the IS press release.

AvalonBay Communities(PBR1001) buys 22.5ksf site at 1865 Broadway from American Bible Society for $300 million, will develop 300ksf residential/retail facility. ABC PR link.

Chevron(PBR3) promotes Jeanette Ourada to Corporate VP/Comptroller effective 04/01/15, upon retirement of Matt Foehr. Chevron PR link.

VISA(PBR212) appoints Vasant Prahbu as CFO effective 02/09/15, succeeds Byron Pollitt who is retiring. VISA PR link.

Dick’s Sporting Goods(PBR400) appoints CFO Andre Hawaux to additional role of COO. DSG PR link.

Cincinnati Financial(PBR517) lists promotions & new appointments of subsidiary companies directors, officers & general counsel. CF PR link.

CA Technologies(PBR520) hires Michael Bisignano as EVP/General Counsel, reports to CEO Mike Gregoire. CA PR link.

Lands’ End(PBR984) CEO Edgar Huber to retire on 02/17/15, Federica Marchionni to become CEO. Click here for the LE press release.

The US Dept of Commerce reports that personal income was up $41.3 billion, 0.3%, & disposable personal income up $35.8 billion, 0.3%, in December. USDOC PR link.

The US Dept of Commerce reports that December construction spending is estimated at an annual rate of $982.1 billion, 0.4% above November, 2.2% above December 2013. USDOC PR link.

Sunday, February 1:
The PBR1000: The January 2015 Breaking News Recap is available. Click here for the blog post.

Super Bowl XLIX Final:
New England Patriots 28, Seattle Seahawks 24.
Most Valuable Player:
Quarterback Tom Brady
Played at:
University of Phoenix Stadium,
Glendale, Arizona

Protective Life(PBR572) acquisition by Japan based Dai-ichi Life Insurance Company, Limited (TSE: 8750) for $70.00/share, $5.7 billion cash has been completed. PL PR link.

(Photo courtesy of freedigitalphotos.net, KROMKRATHOG.)

Filed Under: Recaps Tagged With: acquisitions, Business, business news, Leadership, mergers, Rankings, Stock Market, The PBR1000

The PBR1000: The January 2015 Breaking News Recap!

February 2, 2015 by admin

ID-100179127 Colorful Question Marks-Danilo Rizzuti

January 2015 Was Difficult. What’s Next?

By Larry C. Paxton

The recent dramatic changes in world oil policies, resulting significant drop in oil prices, continued uncertainty about foreign economies and politics(i.e., the election of the leftest anti-austerity party in Greece, the unlinking of the Swiss Franc from the Euro), and corporate quarterly and annual reports that are starting to come in with mixed results, are just some of the causes for the markets to fluctuate wildly throughout January 2015. A common word heard towards the end of the month by many professionals is that the markets are currently directionless.

But January 2015 is now behind us. February starts with Super Bowl XLIX, and hopefully a new year reset.

Following are the January 2015 Breaking News items, from the latest date to the first:

Friday, January 30:
DJIA closes week at 17,164.95, -2.87% from last Friday, -3.69% MTD, QTD, & YTD.
NASDAQ closes week at 4,635.24, -2.58% from last Friday, -2.13% MTD, QTD, & YTD.
SPX closes week at 1,994.99, -2.77% from last Friday, -3.10% MTD, QTD, & YTD.

Chevron(PBR3) announces 2015 $35 billion capital/exploratory budget, 13% less than 2014. Click here for the Chevron press release.

Johnson & Johnson(PBR39) Janssen unit gets FDA approval for adult HIV-1 treatment PREZCOBIX(TM). Click here for the J&J press release.

Safeway(PBR84) $9 billion acquisition by privately held Albertsons has closed, Safeway delisted from NYSE. Click here for the Safeway press release.

CME Group(PBR680) & trading technologies provider GFI Group terminate merger talks following GFI stockholders no vote. Click here for the CME press release.

HCA(PBR76) promotes operations president Sam Hazen to COO. Click here for the HCA press release.

Donaldson Co(PBR780) to promote COO Tod Carpenter to President/CEO on 04/01/15. Click here for the Donaldson press release.

The US Dept of Commerce reports in its advance report that the 4th quarter 2014 GDP annual rate was 2.6%, $17,710.7 billion, down from 5.0% in the 3rd quarter. Click here for the USDOC press release.

The US Dept of Labor reports that compensation costs for civilian workers increased 2.2% for the 12-mo period ending December 2014, was up 2.0% in 2013. Click here for the USDOL press release.

Thursday, January 29:
Bristol-Myers Squibb(PBR165) gets FDA approval for Evotaz for adult HIV-1 infections. Click here for the BMS press release.

VISA(PBR212) in 4th quarter report announces 4:1 stock split effective 03/19/15. Click here for the VISA press release.

Campbell Soup(PBR315) to restructure into 3 product divisions, division presidents named. Click here for the Campbell’s press release.

Hershey Co(PBR347) to acquire $35 million/yr meat jerky manufacturer KRAVE Pure Foods. Click here for the Hershey press release.

Mylan(PBR360) shareholders approve $5.3 billion stock deal for acquisition of Abbott’s(PBR127) non-US developed markets specialty & branded generics business; new public Mylan company to be formed in The Netherlands with current leadership. Click here for the Mylan press release.

Manitowoc(PBR566) to split into two independent companies, Cranes lifting equipment with $2.3 billion sales in 2014, & Foodservices with $1.2 billion sales in 2014, by 1st quarter 2016. Click here for the Manitowoc press release.

Endo Health(PBR741) completes $2.6 billion acquisition of men’s healthcare products developer Auxilium Pharmaceutical. Click here for the EH press release.

SunEdison(PBR888) & former subsidiary TerraForm complete $2.4 billion acquisition of wind projects developer & operator First Wind. Click here for the SunEdison press release.

Kate Spade(PBR1040) to close the 19 Kate Spade Saturday stores, reorganize Jake Spade brand. Click here for the KS press release.

Gap Inc(PBR168) promotes Scott Key as SVP, President/GM of Customer Experience, eliminates creative-director role. Click here for the Gap press release.

CenterPoint Energy(PBR321) CFO Gary Whitlock retiring, William Rogers to become CFO 03/03/15. Click here for the CPE press release.

DSW(PBR801) announces EVP promotions for COO, Chief Admin, Chief Innovation, & Chief Supply Officers. Click here for the DSW press release.

FreddieMac(PBR33) reports for 01/29/15 the average 30 year fixed rate mortgage is 3.66% with 0.6 points. Click here for the FreddieMac press release.

The Nationall Retail Federation estimates Super Bowl XLIX to have 184 million viewers, will spend $14.3 billion for the event. Click here for the NRF press release.

Wednesday, January 28:
HanesBrands(PBR505) sets 4:1 stock split for 03/04/15. Click here for the HanesBrands press release.

Adobe Systems(PBR565) completes $800 million acquisition of private photos & images website Fotolia from KKR(PBR272). Click here for the Adobe press release.

Citrix(PBR685) to restructure, eliminate 900 employee/contractor positions. Click here for the Citrix press release.

McDonald’s(PBR96) President/CEO Don Thompson to retire on 03/01/15, SVP/Chief Brand Officer Steve Easterbrook to become President/CEO. Click here for the McDonald’s press release.

Avon(PBR267) appoints James Scully as EVP/CFO, formerly J. Crew COO, reports to Pres/CEO Sheri McCoy, by 04/01/15. Click here for the Avon press release.

The US Dept of Labor reports that the union membership rate in private industry was 6.6% in 2014; public sector 35.7%. Click here for the USDOL press release.

The US Dept of Labor reports that In the 2nd quarter of 2014, gross job gains from opening and expanding private sector establishments were 7.4 million. Gross job losses from closing and contracting private sector establishments were 6.5 million. Click here for the USDOL press release.

The US Federal Open Market Committee in its 01/28/15 report states that economic activity has been expanding at a solid pace. Click here for the FOMC report.

Tuesday, January 27:
Apple(PBR4) reports record results in 1st quarter, sold 74.5 million iPhones. Click here for the Apple press release.

Safeway(PBR84) acquisition by privately held Albertsons gets FTC approval, expected to close within 5 days. Click here for the Safeway press release.

Yahoo!(PBR500) announces plan for tax-free spin-off of remaining stake in Alibaba Group. Click here for the Apple press release.

Alliant Techsystems(PBR494) & Orbital Sciences(PBR1019) stockholders approve merger, to be called Orbital ATK, trade under NYSE: OA starting 02/10/15. Click here for the Orbital press release.

Alaska Air(PBR459) appoints former Starbucks(PBR164) executive Sangita Woerner as VP of Marketing. Click here for the Alaska Air press release.

Cooper-Standard(PBR654) promotes Allen Campbell to EVP/Chief Infrastructure Officer, hires Matthew Hardt to become EVP/CFO. Click here for the C-S press release.

Ferrellgas(PBR791) EVP/CFO Ryan VanWinkle resigns, SVP/Finance & Investor Relations Alan Heitman to be CFO until new search completed. Click here for the Ferrellgas press release.

The US Dept of HUD reports that the annual sales rate of new single family homes in December was 481,000, median price $298,100, average price $377,800. Click here for the HUD press release.

The US Dept of HHS reports that 9.5 million people are signed up for the Health Insurance Marketplace coverage. Click here for the HHS press release.

Monday, January 26:
Medtronic(PBR161) gets approval of Ireland High Court to complete $49.2 billion acquisition of Covidien, expected to close today, Medtronic & Covidien to be wholly owned subsidiaries of Ireland based Medtronic plc. Click here for the Medtronic press release.

Carnival Corp(PBR176) & China Merchants Group to explore 2 joint ventures to expand cruise industry in China. Click here for the Carnival press release.

Actavis(PBR297) pending $66 billion acquisition of Allergan(PBR392) gets SEC approval, special stockholders meetings for both companies to approve are set for 03/10/15. Click here for the Actavis press release.

Actavis(PBR297) to become UK’s #1 provider of generic drugs with acquisition of Auden McKenzie for 306 million GBP. Click here for the Actavis press release.

MeadWestvaco(PBR447) & Rock-Tenn(PBR(PBR268) agree to stock/swap merger to create $16 billion equity valued global consumer & corrugated packaging company. Click here for the MWV press release.

NII Holdings(PBR495) is selling its Nextel Mexico operations to AT&T(PBR12) for $1.875 billion, expected to close mid-2015. Click here for the NIIH press release.

GEO Group(PBR991) buys 8 correctional/detention facilities with 6,500 beds from private LCS Corrections Services for $312 million. Click here for the GEO press release.

CNA Financial(PBR263) appoints Rocco Orlando as SVP/Sales & Distribution. Click here for the CNA press release.

Charter Communications(PBR320) promotes Rich DiGeronimo to EVP/Product & Strategy, reports to COO John Bickham. Click here for the CC press release.

Mattel(PBR383) Chairman/CEO Bryan Stockton resigns, independent board member Christopher Sinclair named Chairman/Interim CEO. Click here for the Mattel press release.

Citrix(PBR685) appoints Robson Grieve as SVP/Marketing, reports to President/CEO Mark Templeton. Click here for the Citrix press release.

The Congressional Budget Office reports that the federal budget deficit to be steady relative to the size of economy through 2018, then projected to increase through 2025. Click here for the CBO press release.

Sunday, January 25:
Greece: The Greece general elections take place, leftest anti-austerity party Syriza gets the most votes. Click here for the Greek Reporter results article.

Friday, January 23:
DJIA closes week at 17,672.60, +0.92% from last Friday, -.84% MTD, QTD, & YTD.
NASDAQ closes week at 4,757.88, +2.66% from last Friday, +0.46% MTD, QTD, & YTD.
SPX closes week at 2,051.82, +1.60% from last Friday, -0.34% MTD, QTD, & YTD.

Deere & Co(PBR77) laying off indefinitely 910 workers from 5 Iowa & Illinois facilities. Click here for the Deere press release.

Expedia(PBR496) acquires Travelocity from Sabre Corp(NASDAQ: SABR) for $280 million cash. Click here for the Expedia press release.

Flowers Foods(PBR590) promotes Robert Benton, Jr. to SVP/Chief Manufacturing Officer; Michael Beatty, EVP/Supply Chain, retiring in Spring 2015. Click here for the FF press release.

The US Dept of Labor reports that the number of US union wage/salary workers at the end of 2014 was 14.6 million, 11.1% of the workforce, -0.2% from 2013. Click here for the USDOL press release.

The National Association of Realtors reports that December existing home sales annual rate was at 5.04 million, that 2014 total sales were down 3.1% from 2013. Click here for the NAR press release.

Thursday, January 22:
Family Dollar(PBR252) stockholders vote yes for $9.2 billion merger with Dollar Tree(PBR329). Click here for the FD press release.

Dollar General(PBR153) announces Rick Dreiling to continue as chairman/CEO through 01/16, comments on failed Family Dollar(252) bid. Click here for the DG press release.

KKR(PBR272) acquires leading UK rail tickets online retailer 4.7 million active clients Trainline, terms not disclosed. Click here for the KKR press release.

Harman Intl(PBR448) to acquire private 8,000 employee $370 million/year software services company Symphony Teleca. Click here for the Harman press release.

Harman Intl(PBR448) has acquired Israeli-based over-the-air technologies firm Red Bend Software for $170 million stock/cash. Click here for the Harman press release.

E*Trade(PBR947) receives regulatory approval to operate E*Trade Bank as a 9.0 percent Tier 1 financial unit. Click here for the E*Trade press release.

City National Corp(PBR1045) to be acquired by Royal Bank of Canada for $93.50/share, $5.4 billion cash & stock. Click here for the CNC press release.

Starbucks(PBR164) appoints board member Kevin Johnson to also be president/COO in charge of global operations, effective 03/01/15. Click here for the Starbucks press release.

Ball Corp(PBR304) names Mike Gazarik, PhD, Office of Technology Director, effective 03/02/15. Click here for the Ball press release.

The US Dept of Labor says in advance report that for the week ending 01/17/15 initial job claims was 307,000, -10,000 from the previous week. The 4 week moving average was 306,500. Click here for the USDOL press release.

European Central Bank to start bonds buying program for price stability, 60 billion Euros/mo through at least September 2016. Click here for the ECB press release.

Christian Science Monitor reports Saudi Arabia’s King Abdullah has died, successor is half-brother Prince Salman. Click here for the CSM press release.

Wednesday, January 21:
Merck(PBR63) completes $102/share tender offer of antibiotics developer & marketer Cubist Pharmaceuticals(NASDAQ: CBST). Click here for the Merck press release.

Kinder Morgan(PBR198) to acquire Hiland Partners & its midstream oil/gas assets in N Dakota/Montana Bakken area for $3 billion. Click here for the KM press release.

AMSURG(PBR1077) Sheridan unit acquiring national 100+ radiology group Radisphere, terms not disclosed. Click here for the AMSURG press release.

Cummins(PBR157) names Tony Satterthwaite to President, Distribution Business. Click here for the Cummins press release.

Kinder Morgan(PBR198) in its dividend announcement mentions that CEO Rich Kinder to become executive chairman, Steve Kean to become CEO on 06/01/15. Click here for the KM press release.

The US Dept of HUD reports that privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,032,000. This is 1.9 percent (±1.3%) below the revised November rate of 1,052,000, but is 1.0 percent (±1.1%)* above the December 2013 estimate. Click here for the HUD press release.

Tuesday, January 20:
US President Obama gives his 6th State of the Union Address to Congress. Click here for the White House press release.

AIG(PBR41) to acquire Ireland’s 2nd largest health insurance provider, Laya Healthcare, terms not disclosed. Click here for the AIG press release.

Spectrum Brands(PBR529) acquires private $100 million/yr Salix Animal Health, world’s largest vertically integrated rawhide dog treats company. Click here for the SB press release.

Cabot(PBR600) realigning into 4 business segments. Click here for the Cabot press release.

Clean Harbors(PBR608) to carve out Oil & Gas Field Services segment as a standalone public company; Eric Gerstenburg appointed COO, other leadership promotions mentioned. Click here for the CH press release.

First Solar(PBR628) announces it is the first thin film photovoltaic module manufacturer to achieve 10 gigawatts of installed power. Click here for the FS press release.

CME Group(PBR680) ups offer from $5.60 to $5.85/share for trading technologies provider GFI Group. Click here for the CME press release.

Albemarle(PBR742) announces realignment of global business units, executive leadership. Click here for the Albemarle press release.

Specialty apparel retailer Express(PBR854) acquisition by Sycamore Partners discussions terminated due to unavailability of financing. Click here for the Express press release.

Cummins(PBR157) Distribution Business unit President Pamela Carter retiring on 04/01/15. Click here for the Cummins press release.

Bristol-Myers Squibb(PBR165) CEO Lamberto Andreotti to become executive chairman on 05/05/15, COO Giovanni Caforio, MD, to become CEO. Click here for the BMS press release.

Apache Corp(PBR169) chairman/president/CEO Steven Farris retires effective immediately, EVP/COO No. America John Christman IV named president/CEO. Click here for the Apache press release.

Barnes & Noble(PBR388) Retail Group CEO Mitchell Klipper to retire 05/02/15, then be a special advisor. Click here for the BN press release.

Bon-Ton Stores(PBR704) CFO Keith Plowman to retire in 08/15, national search to start. Click here for the BTS press release.

Hologic(PBR761) announces John Griffin joining as general counsel, Allison Bebo as SVP, human resources. Click here for the Hologic press release.

Outerwall(PBR816) CEO Scott Di Valerio steps down, director Nora Denzel appointed Interim CEO. Click here for the Outerwall press release.

Nortek(PBR822) names Liam Weston as Chief Human Resources Officer. Click here for the Nortek press release.

Equifax(PBR817) reports December auto loan balances were at $975 billion, representing 33.2% of non-mortgage consumer debt. Click here for the Equifax press release.

Monday, January 19:
US Stock Exchanges Closed.
Dr. Martin Luther King, Jr. Day Observed.
“An individual has not started living until he can rise above the narrow confines of his individualistic concerns to the broader concerns of all humanity.”

Friday, January 16:
DJIA closes week at 17,511.57, -1.27% from last Friday, -1.75% MTD, QTD, & YTD.
NASDAQ closes week at 4,634.38, -1.48% from last Friday, -2.15% MTD, QTD, & YTD.
SPX closes week at 2,019.42, -1.24% from last Friday, -1.92% MTD, QTD, & YTD.

AT&T(PBR12) closes on acquisition of Mexico 9.2 million subscriber wireless provider lusacell for $2.5 billion. Click here for the AT&T press release.

Estee Lauder(PBR242) completes acquisition of Hollywood skincare brand GLAMGLOW. Click here for the EL press release.

CBRE Group(PBR346) acquires Dallas, TX, based 100 employee United Commercial Realty, terms not disclosed. Click here for the CBRE press release.

Regal Entertainment(PBR663) decides sale of the company not in its best interest at this time. Click here for the RE press release.

Ventas(PBR707) completes acquisition of American Realty Capital Healthcare Trust(NASDAQ: HCT) for $2.6 billion cash/stock. Click here for the Ventas press release.

Home Depot(PBR35) chairman Frank Blake retiring 02/02/15, president/CEO Craig Menear to become chairman at that time. Click here for the HD press release.

The US Dept of Labor reports that the Consumer Price Index(CPI-U) was down 0.4% in Dec, increased 0.8% over the last 12 months. Click here for the USDOL press release.

The US Dept of Treasury reports that the sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net Treasury International Capital outflow of $6.3 billion. Click here for the Treasury press release.

The US Dept of Labor preliminary report shows current avg earnings/hour for December was $24.57, down 0.2% from November. Click here for the USDOL press release.

Thursday, January 15:
The Swiss National Bank unexpectedly discontinues its minimum exchange rate with the Euro, lowers interest rate to -0.75%, stock markets worldwide drop. Click here for the SNB press release.

Target(PBR38) announces plans to discontinue Canadian operations, 133 stores, 17,600 employees. Click here for the Target press release.

The Johnson & Johnson(PBR39) Janssen Pharmaceutical unit is divesting its US license rights of its Nucynta products to Depomed for $1.05 billion. Click here for the JNJ press release.

Dollar General(PBR153) provides update on the FTC review of its proposed merger with Family Dollar(PBR252). Click here for the DG press release.

Kellogg(PBR188) completes acquisition of 86% stake in Egyptian public 3,300 employee $70 million/2013 packaged biscuits producer Bisco Misr. Click here for the Kellogg press release.

Caesars Entertainment(PBR301) subsidiary Caesars Entertainment Operating Company commences voluntary Chapter 11 reorganization, to reduce debt by $10 billion. Click here for the Caesars press release.

CME Group(PBR680) & trading technologies provider GFI Group announce revised offer of $5.60/share for GFIG stockholders, $282 million. Click here for the CME press release.

Vornado(PBR714) completes spin-off of subsidiary Urban Edge Properties as an independent public company on NYSE: UE. Click here for the Vornado press release.

AutoNation(PBR151) chairman/CEO Mike Jackson to add president title upon retirement of pres/COO Mike Maroone, SVP/Sales Bill Berman to become EVP/COO. Click here for the AutoNation press release.

Viacom(PBR202) extends employment agreement with president/CEO Philippe Daumann through 2018. Click here for the Viacom press release.

Juniper Networks(PBR501) promotes Jonathon Davidson EVP/GM of Development & Innovation, reports to CEO Rami Rahim. Click here for the Juniper press release.

FreddieMac(PBR33) reports that the 30 yr fixed mortgage rate for the past weekk averaged 3.66% with 0.6 point. Click here for the FreddieMac press release.

The US Dept of Labor reports that the December Producer Price Index for final demand fell 0.3%, seasonally adjusted, increased 1.1% in 2014. Click here for the USDOL press release.

Wednesday, January 14:
General Motors(PBR7) to increase capital expenditures to $9 billion in 2015, sold 3.5 million vehicle in China in 2013. Click here for the GM press release.

Exelon(PBR109) & Pepco(PBR498) reach settlement agreement with the NJ Board of Public Utilities in proposed $6.83 billion merger, now planned for 2nd or 3rd quarter 2015. Click here for the Exelon press release.

Adobe Systems(PBR565) authorizes new $2 billion shares repurchase program through FY2017. Click here for the Adobe press release.

Constellation Brands(PBR483) names Bill Newlands to new position of Chief Growth Officer, reports to president/CEO Rob Sands, starts 01/26/15. Click here for the CB press release.

Hawaiian Airlines(PBR849) promotes Shannon Okinaka to SVP/Interim CFO, fills vacancy left by Scott Topping, reports to president/CEO Mark Dunkerley. Click here for the HA press release.

JPMorgan Chase(PBR20) new report reveals summer jobs for young people decline significantly. Click here for the JPMC press release.

The US Dept of Labor says the December price index for U.S. imports fell 2.5%, follows 1.8% drop in November, decreases due to lower fuel prices. Click here for the USDOL press release.

The US Dept of Commerce reports that the US total business November end of month inventories were at $1,763.6 billion, +0.2%(+/- 0.1%) from October. Click here for the USDOC press release.

The US Federal Reserve Board releases the latest Beige Book, says modest growth across most districts in recent months, expects faster growth in coming months. Click here for the FRB press release.

Fun info: Vegas by the Numbers: A 2014 Recap; provided by MGM Resorts Intl(PBR270). Click here for the PRNewswire press release.

Tuesday, January 13:

Textron(PBR222) Specialized Vehicles unit acquires 90 employee UK based ground support equipment manufacturer Douglas Equipment from Curtiss-Wright(PBR771), terms not disclosed. Click here for the Textron press release.

Henry Schein(PBR276) acquires dental practice transition and brokerage firm ADS Florida, terms not disclosed. Click here for the HS press release.

Mohawk Industries(PBR342) to acquire Belgium based sheet vinyl, luxury vinyl tile, & laminate manufacturer IVC Group for $1.2 billion. Click here for the Mohawk press release.

Cabot(PBR600) authorizes 5 million shares repurchase program, cancels previous programs. Click here for the Cabot press release.

Dana Holding(PBR367) President/CEO Roger Wood to retire in 04/16, global executive search firm Spencer Stuart retained. Click here for the DH press release.

TD Ameritrade(PBR651) EVP/CFO Bill Gerber to retire at end of FY, 09/15. Click here for the TDA press release.

The US Dept of Labor reports 5.0 million job openings at the end of November, little changed from 4.8 million in October. Click here for the USDOL press release.

Monday, January 12:
AmerisourceBergen(PBR16) to acquire animal health distribution company MWI Veterinary Supply(PBR673) for $190/share, $2.5 billion, expect to close transaction in 03/15. Click here for the AB press release.

General Cable(PBR385) promotes Sonya Reed to Chief HR Officer, Emerson Moser to SVP General Counsel/Corp Secretary, names Kurt Drake SVP Chief Compliance Officer. Click here for the GC press release.

Carlyle Group(PBR528) promotes 59 professionals to senior positions. Click here for the CG press release.

Perrigo(PBR564) signs exclusive 5 year agreement with Ferrara Candy to manufacture gummy vitamins and dietary supplements for $625 million market. Click here for the Perrigo press release.

Arthur J Gallagher(PBR647) acquires Newport Beach, CA, based national benefits provider firm e3 Financial, terms not disclosed. Click here for the AJG press release.

Citrix(PBR685) has acquired workload-oriented storage virtualization technologies developer Sanbolic, terms not disclosed. Click here for the Citrix press release.

Specialty chemicals company Albemarle(PBR742) completes $6.2 billion acquisition of Rockwood Holdings(PBR1015), which will be delisted. Click here for the Albemarle press release.

SunEdison(PBR888) & India based Adani to build the largest solar manufacturing facility in India with a $4 billion investment. Click here for the SunEdison press release.

SunEdison(PBR888) & India based Omnigrid Micropower partner for 250MW power across 5,000 rural projects to bring electricity to 10 million people in rural India. Click here for the SunEdison press release.

Alpha Natural Resources(PBR478) president Paul Vining resigning end of 01/15, other executives to take on additional responsibilities. Click here for the ANR press release.

ABM Industries(PBR489) EVP Scott Salmirs to succeed president/CEO Henrik Slipsager as CEO, effective 03/31/15. Click here for the ABM press release.

Citrix(PBR685) appoints Carlos Sartorius SVP, Worldwide Sales & Services, reports to pres/CEO Mark Templeton. Click here for the Citrix press release.

Acxiom(PBR1073) Chief Revenue Officer Nada Stirratt stepping down, effective 03/31/15, CEO Scott Howe to lead sales until replacement found. Click here for the Acxiom press release.

Friday, January 9:
DJIA closes week at 17,737.37, -0.54% from last Friday, -0.48% MTD, QTD, & YTD.
NASDAQ closes week at 4,704.07, -0.48% from last Friday, -0.68% MTD, QTD, & YTD.
SPX closes week at 2,044.81, -0.65% from last Friday, -0.68% MTD, QTD, & YTD.

Estee Lauder(PBR242) completes acquisition of ultraluxury fragrances company Editions de Parfums Frederic Malle, terms not disclosed. Click here for the EL press release.

Dover(PBR295) authorizes 15 million over 3 years shares repurchase program. Click here for the Dover press release.

Advance Auto Parts(PBR382) promotes Tammy Finley to EVP, Human Resources & General Counsel, reports to CEO Darren Jackson. Click here for the AAP press release.

Spectrum Brands(PBR529) president/CEO Dave Lumly to retire by end of 2015, will remain on the board. Click here for the SB press release.

Endo Health(PBR741) announces several senior management changes based on pending acquisition of Auxilium. Click here for the EH press release.

The Dept of Labor reports that nonfarm payroll jobs increased by 252,000 in December, the unemployment rate is at 5.6%. Click here for the USDOL press release.

The US Census Bureau reports that November wholesalers sales were $452.2 billion, -0.3% from October. End of Month inventories were at $547.2 billion, +0.8% from October. here for the Census press release.

Thursday, January 8:
Macy’s(PBR97) restructuring merchandising & marketing, make store & field organization adjustments, maintain 175,000 associates level. Click here for the Macy’s press release.

Global Partners(PBR136) completes acquisition of NE US petroleum products marketer Warren Equities for $387 million. Click here for the GP press release.

General Mills(PBR148) to close baked refrigerated goods plants in New Albany, IN, & Midland, Ontario, will impact 500 employees. Click here for the General Mills press releases.

Dun & Bradstreet(PBR962) acquires B2B professional contact data provider NetProspex for $125 million. Click here for the D&B press release.

Starbucks(PBR164) COO Troy Alstead, after 23 year career, to take an extended unpaid leave of absence after 03/01/15. Click here for the Starbucks press release.

Ball Corp(PBR304) names Manette Snow to new position of VP, Diversity & Inclusion, reports to chairman/president/CEO John Hayes. Click here for the Ball Corp press release.

Carlyle Group(PBR528) appoints Georgette Kiser as Chief Info Officer, reports to co presidents/COOs. Click here for the CG press release.

ADT(PBR620) appoints Andrea Martin to President of Canada operations, effective 01/12/15, reports to President/CEO Naren Gursahaney. Click here for the ADT press release.

Boise Cascade(PBR636) COO Tom Corrick to become CEO upon retirement of Tom Carlile on 03/06/15. Click here for the BC press release.

W.R. Grace(PBR657) appoints Elizabeth Brown as Chief Human Relations Officer. Click here for the WRG press release.

FreddieMac(PBR33) reports that the average 30 year fixed mortgage rate is at 3.73% with 0.6 point. Click here for the FreddieMac press release.

General Motors(PBR7) CEO Mary Barra expects the auto industry to sell16.5-17.0 million new cars in the US in 2015. Click here for the GM press release.

The US Fed Reserve Board reports that November consumer credit was up at a 5% seasonally adjusted annual rate. Revolving credit down at 1.25%, and nonrevolving credit up at 7.5%. Click here for the FRB press release.

President Obama proposes to make community college free for responsible students for 2 Years. Click here for the Whitehouse press release.

President Obama proposes to reduce FHA mortgage insurance to save new homeowner an avg of $900/yr. Click here for the Whitehouse press release.

The US Olympic Committee selects Boston as applicant city for the 2024 Olympic & Paralympic Summer Games. Click here for the USOC press release.

Wednesday, January 7:
T-Mobile US(PBR115) reports 8.3 million total net customer additions in 2014. Click here for the T-Mobile press release.

PVH(PBR318) announces closing of 120 store Izod Retail Division by end of 2015, keep growing wholesale business. Click here for the PVH press release.

Flowserve(PBR477) completes acquisition of Netherland’s based engineered vacuum and fluid pumps provider SIHI Group BV for $372.5 million. Click here for the Flowserve press release.

Keurig Green Mountain(PBR499) to be exclusive producer of Dr Pepper Snapple(PBR409) products for its Keurig Cold at-home beverage system in multi-year agreement. Click here for the Keurig press release.

Carlyle Group(PBR528) acquires engineering/manufacturing drivetrain firm AxleTech International from General Dynamics(PBR91), terms not disclosed. Click here for the CG press release.

Ford(PBR8) John Felice retiring after 30 years, Mark Laneve to succeed him as VP, US Marketing, Sales & Service. Click here for the Ford press release.

Raytheon(PBR118) appoints CFO David Wajsgras as president, IIS, Toby O’Brien to be VP/CFO, effective 03/02/15. Click here for the Raytheon press release.

Alpha Natural Resources(PBR478) CFO Frank Wood to retire on 02/28/15, EVP/Chief Strategy Officer Philip Cavatoni to add CFO duties. Click here for the ANR press release.

Bright Horizons(PBR1047) President/COO Mary Ann Tocio to retire 07/15, leadership changes announced. Click here for the BH press release.

ADP(PBR220) National Employment Report says 241,000 non-farm private sector jobs added in December. Click here for the ADP press release.

The US Dept of Commerce reports that the international trade deficit in goods and services decreased to $39.0 billion in November from $42.2 billion in October (revised), as imports decreased more than exports. Click here for the USDOC press release.

The Federal Open Market Committee released its December 16-17 meeting notes, no immediate plans to raise interest rates. Click here for the FOMC press release.

Dun & Bradstreet(PBR962) says the US economy is showing signs of hesitant growth in 2015. Click here for the D&B press release.

An apparent small cell of Al Qaida operatives systematically attack and kill 12 people in the headquarters of Paris, France, based satirical publication Charlie Hebdo.

Tuesday, January 6:
In separate meetings Medtronic(PBR161) & Ireland based medical supplies provider Covidien shareholders approve Medtronic’s $49.2 billion acquisition, expected to close in next 3-5 weeks. Click here for the Medtronic press release.

Gilead Sciences(PBR237) to acquire from private German based biotech Phenex Pharmaceuticals its liver disease treatment protocols for up to $470 million. Click here for the GS press release.

Coach(PBR490) acquiring women’s luxury footwear designer and manufacturer Stuart Weitzman from private equity firm Sycamore Partners for $574 million cash. Click here for the Coach press release.

Brazilian based Cutrale & Safra complete the $14.50/share tender offer of Chiquita Brands(PBR658), now own 84%+ of common shares. Click here for the Chiquita press release.

The US Dept of Commerce reports that new orders for manufactured goods in November, down 4 consecutive mos, was down $3.5B from October, or -0.7%, to $492.7B. Click here for the USDOC press release.

The 114th US Congress is convened, John Boehner re-elected as House Speaker, Mitch McConnell elected Senate Majority Leader.

Monday, January 5:
Amazon(PBR37) says Amazon Sellers sold record over 2 billion items worldwide in 2014. Click here for the Amazon press release.

AIG(PBR41) completes acquisition of UK based 350,000 consumer base Ageas Protective Life from Belgium based Ageas Group for $305 million. Click here for the AIG press release.

Pfizer(PBR53) has acquired Swiss based herpes vaccine developer Redvax GmbH, no terms disclosed. Click here for the Pfizer press release.

Amgen(PBR144) & Kite Pharma(NASDAQ: KITE) form strategic cancer immunotherapy research collaboration & license agreement. Click here for the Amgen press release.

C.H. Robinson(PBR211) completes acquisition of private freight broker Freightquote.com for $365 million cash. Click here for the CHR press release.

Cameron International(PBR269) completes sale of Centrifugal Compression unit to Ireland based Ingersoll-Rand for $850 million. Click here for the Cameron press release.

Alliance Data(PBR540) announces $600 million shares repurchase program for 2015. Click here for the AD press release.

CME Group(PBR680) reports average trading volume in 2014 at 13.7 million contracts per day, up 9% from 2013. Click here for the CME Group press release.

Belden(PBR873) completes acquisition of global cybersecurity firm Tripwire for $710 million. Click here for the Belden press release.

Endo Health(PBR741) EVP/Chief Legal Officer Caroline Manogue to retire on 07/01/15, executive search firm retained. Click here for the Endo Health press release.

Curtiss-Wright(PBR771) announces CEO David Adams now also chairman. Click here for the C-W press release.

Covanta Holding(PBR970) announces Steve Jones to become president/CEO in 03/15 when Anthony Orlando steps down, but stays on board. Click here for the Covanta press release.

Blackstone(PBR374) Advisory Partners Vice Chairman Byron Wien announces his annual Predictions for 10 Surprises for 2015. Click here for the Blackstone press release.

Sunday, January 4:
The PBR1000: The December 2014 Breaking News Recap is posted. Click here for the post.

Friday, January 2:
DJIA closes week at 17,832.99, -1.22% from last Friday, -0.20% MTD, QTD, & YTD.
NASDAQ closes week at 4,726.81, -1.67% from last Friday, -0.20% MTD, QTD, & YTD.
SPX closes week at 2,058.20, -1.46% from last Friday, -0.03% MTD, QTD, & YTD.

3M(PBR92) completes sale of its global $45 million/yr Static Control business to Desco Industries, terms not disclosed. Click here for the 3M press release.

Cliffs Natural Resources(PBR422) completes sale of W Virginia Logan County coal assets to Coronado Coal for $175 million cash, confirms E Canada facility Bloom Lake has closed. Click here for the CNR press release.

HCC Insurance(PBR760) completes acquisition of Producers Ag Insurance Group from CUNA Mutual Group for $105 million cash. Click here for the HCC press release.

HealthSouth(PBR827) completes $750 million acquisition of privately held 5,000 employee Encompass Home Health & Hospice. Click here for the HealthSouth press release.

International Game Technology(PBR876) special shareholders meeting set for 02/10/15 to vote on acquisition by consortium led by Italian based game technology company GTECH for $6.4 billion in cash, stock, & debt. Click here for the IGT press release.

Graco(PBR1072) announces acquisition of 4 companies for $185 million, including PA based High Pressure Equipment. Click here for the Graco press release.

The US Dept of Commerce says prelim total annual rate construction spending in November was $975 billion, -0.3% from October. Click here for the USDOC press release.

Thursday, January 1:
The staff of PBRMarketTools wishes you and yours a Happy, Blessed, Healthy, and Prosperous 2015!

(Photo courtesy of freedigitalphotos.net, Danilo Rizzuti.)

Filed Under: Recaps Tagged With: acquisitions, Business, business news, Leadership, mergers, Rankings, Stock Market, The PBR1000

The PBR1000: The November 2014 Breaking News Recap!

December 1, 2014 by admin

ID-100190796 Santa Business Meeting-franky242

Santa asks the Board, “Has the year been naughty or nice?”

By Larry C. Paxton

November 2014 was a very eventful month, starting with the US elections that saw the Republicans gain a majority in the Senate and increase their majority in the House. President Obama exercised his executive privileges in the areas of net neutrality and immigration.

There were over $125 billion in new deals announced by 10 of The PBR1000 companies, the largest being Actavis(PBR297) winning the bidding war to acquire Allergan(PBR391) for $66 billion. Spinoffs have become popular and shares buyback programs continue to proliferate. While the stock market indexes were at record highs, a major event was the significant drop in oil prices. A lot of global maneuvering is starting to take place with that shift, leaving the big question: how it will affect the economy both short and long term?

While we gave thanks for the many blessings we have on Thanksgiving Day, we also can’t help but be concerned by the obvious lack of growth of the middle class, and the unrest it is causing seen by recent marches demanding livable wages. This has been compounded by the events of the Ferguson, Missouri, decisions and riots after the grand jury results were announced.

November ended with a lot of Black Friday hype, but with lower than expected sales. December starts with Cyber Monday, which is expected to take a big leap. But will data breaches and identity theft put a dent in at store and online purchases? So, the stage has been set for December with a lot of question marks, but I also sense with a feeling of very cautious optimism.

Following are the November Breaking News items, from the latest date to the first:

Friday, November 28:
Welcome to Black Friday!

DJIA closes week at 17,828.24, +0.10% from last Friday, 2.52% MTD, +4.61% QTD, +7.55% YTD.
NASDAQ closes week at 4,791.63, +1.67% from last Friday, +3.47% MTD, +6.64% QTD, +14.73% YTD.
SPX closes week at 2,067.56, +0.20% from last Friday, +2.45% MTD, +4.83% QTD, +11.86% YTD.

Coca-Cola Co(PBR58), SABMiller, & Coca-Cola SABCO to form Coca-Cola Beverages Africa to serve South & East Africa markets. Click here for the Coca-Cola press release.

Enbridge Energy(PBR353) acquires 80% interest in 2 US wind farms, in Texas & Indiana, from E.ON, who will remain operator, for $650 million. Click here for the Enbridge press release.

BE Aerospace(PBR608) is informed by NASDAQ that the KLX spin-off will start trading on 12/17/14 with the symbol KLXI. Click here for the BEA press release.

Thursday, November 27:
Markets are closed.
Happy Thanksgiving Day,
Give Thanks and Travel Safe!

Wednesday, November 26:
The US Dept of Commerce in a preliminary report says October personal income was +0.2% over September, real disposable income was +0.1%. Click here for the USDOC press release.

The US Dept of HUD preliminary report shows October new home sales at a 458,000 annual rate, +0.7% over September. Click here for the HUD press release.

Tuesday, November 25:
Aetna(PBR57) completes acquisition of private healthcare shopping exchange technologies company bswift for $400 million. Click here for the Aetna press release.

Harbinger Group(PBR431) chairman/CEO Philip Falcone resigns effective 12/01/14, independent board director Joseph Steinberg to be chairman, CEO search to begin. Click here for the Harbinger press release.

BE Aerospace(PBR608) board approves separation of KLX unit & shares distribution, to take place 12/16/14. Click here for the BE Aerospace press release.

Greenbrier Cos(PBR931) promotes Jack Isselmann to SVP/External Affairs & Programs, reports to chairman/CEO. Click here for the Greenbrier press release.

The US Dept of Commerce reports that the 3rd quarter 2014 2nd Estimate GDP was at a 3.9% annual rate. Click here for the USDOC press release.

Monday, November 24:
HealthSouth(PBR820) to acquire privately held 5,000 employee Encompass Home Health & Hospice for $750 million, to close by end of 2014. Click here for the HealthSouth press release.

United Technologies(PBR45) chair/CEO Louis Chenevert retires, effective immediately, SVP/CFO Greg Hayes appointed president/CEO. Click here for the UTC press release.

American Tower(PBR623) to acquire 4,800+ communications towers in Nigeria from a Netherlands based Bharti Airtel subsidiary. Click here for the AT press release.

Jarden(PBR341) does 3:2 stock split. Click here for the Jarden press release.

SunEdison(PBR882) & Brazil based Renova Energia create a 50/50 joint venture to develop 1 Gigawatt of solar power in Brazil. Click here for the SunEdison press release.

A. Schulman(PBR854) appoints Brent Middleton as VP/GM for US/Canada & Gustavo Perez as VP/GM Latin America. Click here for the AS press release.

Friday, November 21:
DJIA closes week at 17,810.06, +0.99% from last Friday, 2.41% MTD, +4.50% QTD, +7.44% YTD.
NASDAQ closes week at 4,712.97, +0.52% from last Friday, +1.78% MTD, +4.89% QTD, +12.84% YTD.
SPX closes week at 2,063.50, +1.16% from last Friday, +2.25% MTD, +4.62% QTD, +11.64% YTD.

Cardinal Health(PBR26) physician office-focused commercial organization to be consolidated with the Henry Schein(PBR274) Medical Group per longterm strategic agreement. Click here for the Henry Schein press release.

LabCorp(PBR418) completes acquisition of cardiovascular diagnostic lab tests on NMR provider LipoScience(NASDAQ: LPDX) for $5.25/share, $85.3 million transaction value. Click here for the LabCorp press release.

Abercrombie & Fitch(PBR557), in its first franchise agreement, to open its brand stores in Mexico through Grupo AXO. Click here for the A&F press release.

American Tower(PBR623) to acquire 2 portfolios totaling 6,480 cellular towers in Brazil from TIM Cellular SA for $1.2 billion. Click here for the AT press release.

Scientific Games(PBR1069) completes its acquisition of Bally Technologies for $5.1 billion. Click here for the SG press release.

Aetna(PBR57) authorizes $1 billion shares buyback plus $464 million remaining from previous buyback program. Click here for the Aetna press release.

Dillard’s(PBR367) authorizes $500 million Class A Common shares buyback program. Click here for the Dillard’s press release.

Flowers Foods(PBR588) increases its stock buyback program to 15 million shares. Click here for the FF press release.

Thursday, November 20:
Alcoa(PBR122) completes $2.85 billion cash/stock buy of UK based jet engine parts producer Firth Rixson. Click here for the Alcoa press release.

Apache Corp(PBR168) has added 300,000 leasehold acres in 2014, selling its non-core Louisiana & some Anadarko Basin oil & gas assets for $1.4 billion. Click here for the Apache press release.

Cognizant Technology(PBR292) completes acquisition of privately held healthcare IT software developer TriZetto for $2.7 billion cash. Click here for the CT press release.

Blackstone Group(PBR372) to acquire GE Capital’s Japan residential business of over 10,000 units for $1.6 billion. Click here for the Blackstone press release.

Fiserv(PBR484) authorizes 20 million shares repurchase program. Click here for the Fiserv press release.

Activision Blizzard(PBR510) announces its Call of Duty video game is biggest entertainment launch of the year, lifetime sales now exceeds $10 billion. Click here for the AB press release.

W.R. Grace(PBR657) to acquire remaining 50% from Turkey construction products joint venture partner, terms not disclosed. Click here for the WRG press release.

Corinthian Colleges(PBR968) selling 56 Everest & WyoTech campuses to nonprofit ECMC Group, to close in January, 2015. Click here for the CC press release.

Hertz(PBR249) elects travel & transportation industry veteran John Tague as president/CEO, effective 11/21/14. Click here for the Hertz press release.

Clorox(PBR428) has new CEO, former EVP/COO Benno Dorer. Click here for the Clorox biography of BD.

Children’s Place Retail(PBR929) appoints Anurup Pruthi as SVP/CFO, effective 12/01/14, reports to COO. Click here for the CPR press release.

The US Dept of Labor reports that October current earnings were up 0.1% to $24.57/hr average, $850.12/week, for 34.6 hour workweek. Click here for the USDOL press release.

The US Dept of Labor reports that the October Consumer Price Index was unchanged over September, 1.7% YTD. Click here for the USDOL press release.

The White House blog on President Obama’s speech regarding his plan to sign executive orders on immigration policy. Click here for the White House post.

Wednesday, November 19:
Family Dollar(PBR254) moves special stockholders meeting from 12/11/14 to 12/23/14 to vote on $9.2 billion merger with Dollar Tree(PBR328). Click here for the Family Dollar press release.

Dollar General(PBR154) affirms commitment to acquire Family Dollar(PBR254), working with FTC on terms. Click here for the Dollar General press release.

Avis Budget(PBR325) completes $210 million plus fleet cost deal for Budget licensee of S. California & Las Vegas. Click here for the Avis Budget press release.

Cliffs Natural Resources(PBR421) pursuing exit options for its Eastern Canadian operations. Click here for the CNR press release.

Yahoo!(PBR495) to be default mobile & desktop search engine in the US for Mozilla Firefox starting in 12/14 per 5 year strategic agreement. Click here for the Yahoo! press release.

Keuring Green Mountain(PBR532) announces that 11 year CFO/Treas Frances Rathke leaving in 2015 when replacement found. Click here for the KGM press release.

Arthur J Gallagher(PBR648) acquires Muscatine, IA, retail insurance broker Miller-Harrison Insurance Services. Click here for the AJG press release.

Crown Castle Intl(PBR668) stockholders vote to merge with wholly owned subsidiary Crown Castle REIT, to close by year end. Click here for the CCO press release.

Health Care REIT(PBR691) completes acquisition of HealthLease Properties REIT, includes portfolio of senior living, acute care, long-term care communities. Click here for the HCREIT press release.

Corinthian Colleges(PBR968) receives NASDAQ notice regarding inability to file latest 10-K & 10-Q reports. Click here for the CC press release.

The Federal Reserve Board announces the appointments of chairs and deputy chairs for the 12 Federal Reserve Banks for 2015. Click here for the FRB press release.

The Federal Reserve Board in its Oct 29 Open Market Committee report says the economy is expanding at moderate pace. Click here for the FRB press release.

The US Dept of HUD preliminary report says that October private housing building permits was at a 1,080,000 annual rate, +4.8% over September. Click here for the HUD press release.

The US Dept of Labor reports a net increase of 397,000 private sector jobs in 1st quarter 2014. Click here for the USDOL press release.

Tuesday, November 18:
Archer-Daniels-Midland(ADM)(PBR27) completes buy of Specialty Commodities for $191 million, announces some senior management changes. Click here for the ADM press release.

Avon(PBR266) announces leadership changes in Latin America, headquarters. Click here for the Avon press release.

Micron Technology(PBR284) announces CFO/VP of Finance Ronald Foster to retire effective 02/28/15. Click here for the MT press release.

Darden Restaurants(PBR392) says CFO Brad Richmond to retire by 03/31/15, Chief HR Officer Daisy Ng resigning, being replaced by SVP Danielle Kirgan, SVP Government & Community Affairs Bob McAdam to leave at end of year; also restructuring Olive Garden & Longhorn field leadership. Click here for the Darden press release.

The US Senate votes 59-41 in favor of the Keystone XL Pipeline, 1 vote short needed for passage. Click here for the Library of Congress notice.

The US Dept of Labor reports that the October Producer Price Index(PPI) was up 0.2%, with services up 0.5%, goods down 0.4%. Click here for the USDOL press release.

Monday, November 17:
Actavis(PBR297) to acquire healthcare products provider Allergan(PBR391) for $219/share, $66 billion. Click here for the Actavis press release.

Fidelity Natl Fin(PBR300) FNFV unit completes sale of Comdata to FleetCor for stock valued at $356 million. Click here for the FNF press release.

Canada based Valeant Pharmaceuticals(NYSE: VRX) says it cannot justify $219/share bid for Allergan(PBR391), will not be submitting any further offers. Click here for the Valeant press release.

Halliburton(PBR94) to acquire oilfield products & services provider Baker Hughes(PBR124) for $78.62/share, $34.6 billion in cash & stock. Click here for the Halliburton press release.

Medtronic(PBR162) & Ireland based medical supplies provider Covidien shareholders to meet on 01/06/15 to approve $49.2 billion cash acquisition. Click here for the Medtronic press release.

Actavis(PBR297) completes $23/share, $675 million tender offer of Durata Therapeutics outstanding shares. Click here for the Actavis press release.

Lennar(PBR414) & Macerich(PBR1083) to do 500,000 sf urban outlet joint venture 50/50 project in upscale mixed use San Francisco area Candlestick Point. Click here for the Lennar press release.

SunEdison(PBR882) & indirect subsidiary TerraForm Power to acquire wind projects developer & operator First Wind for $2.4 billion. Click here for the SunEdison press release.

Cummins(PBR158) names Tracy Embree as president, Components Group, reports to COO Rich Freeland. Click here for the Cummins press release.

AES Corp(PBR171) EVP/COO Andrew Vesey leaving effective 12/31/14, for CEO position in Australia. CFO Bernerd Da Santos to also be acting COO 12/01/14. Click here for the AES press release.

American Axle & Mfg(PBR643) names Nigel Francis VP Corp Planning, Jon Morrison as Pres, AAM N America. Click here for the AAM press release.

Fairchild Semiconductor(PBR1002) Chairman/CEO Mark Thompson to add President title after departure of Pres/COO Vijay Ullal. Click here for the FS press release.

In Nov US economy/housing outlook FreddieMac(PBR33) forecasts 2015 3.0% economy growth rate, 5% more housing sales. Click here for the FreddieMac press release.

Saturday, November 15:
Open enrollment for health care plans starts today through 12/15/14 for coverage starting 01/01/15. Click here for the HealthCare.gov website.

Friday, November 14:
DJIA closes week at 17,634.74, +0.35% from last Friday, 1.40% MTD, +3.47% QTD, +6.38% YTD.
NASDAQ closes week at 4,688.54, +1.21% from last Friday, +1.25% MTD, +4.34% QTD, +12.26% YTD.
SPX closes week at 2,039.82, +0.39% from last Friday, +1.08% MTD, +3.42% QTD, +10.36% YTD.

Hertz(PBR249) to buy 350,000 2015 vehicles, implement a $100 million cost reduction program, restate 2011-2013 financials. Click here for the Hertz press release.

Flowserve(PBR473) to acquire Netherland’s based engineered vacuum and fluid pumps provider SIHI Group BV for $372.5 million. Click here for the Flowserve press release.

Arthur J Gallagher(PBR648) acquires Richmond, VA, based human resource consulting services firm The Titan Group, terms not disclosed. Click here for the AJG press release.

Albemarle(PBR739) & Rockwood Holdings(PBR1006) shareholders approve merger, to close 1st quarter 2015. Click here for the Albemarle press release.

Kroger(PBR24) announces that its Ralphs Grocery Co to hire for 1,200 permanent positions in So. California. Click here for the Kroger press release.

Ashland(PBR331) elects Bill Wulfsohn, former Pres/CEO of Carpenter Technology(PBR836), as Chairman/CEO, effective 01/01/15, succeeds James O’Brien, who is retiring . Click here for the Ashland press release.

Carpenter Technology(PBR836) announces chairman Gregory Pratt to also be CEO again, effective immediately, replaces Bill Wulfsohn who is leaving to become chairman/CEO of Ashland(PBR331). Click here for the CT press release.

Thursday, November 13:
Berkshire Hathaway(PBR4) to acquire Duracell in exchange for Proctor & Gamble(PBR32) shares valued at $4.7 billion. Click here for the P&G press release.

Expedia(PBR491) completes acquisition of Australia based online travel company Wotif Group for $612 million. Click here for the Expedia press release.

Graham Holdings(PBR607) to do tax free spin-off of subsidiary Cable ONE as a separate public company in 2015. Click here for the GH press release.

Baker Hughes(PBR124) confirms it is in preliminary merger talks with Halliburton(PBR94). Click here for the BH press release.

AIG(PBR41) appoints Charlie Shamieh CEO Life, Health, and Disability Insurance; Alessa Quane named Corporate Chief Actuary. Click here for the AIG press release.

Diebold(PBR694) names Tom Signorello as SVP N American Sales & Mychal Kempt as VP Global Launch Management. Click here for the Diebold press release.

Rackspace(PBR983) appoints Todd Cione as Chief Revenue Officer. Click here for the Rackspace press release.

The US Dept of Labor reports that there were 4.7 million job openings at end of September, 5.0 million hires, & 4.8 million separations. Click here for the USDOL press release.

The US Dept of Labor reports that for the week ending 11/08/14 initial unemployment claims were 290,000, up 12,000 from the previous week. Click here for the USDOL press release.

Wednesday, November 12:
Cognizant Technology(PBR292) acquires Australia based digital solutions provider Odecee, terms not disclosed. Click here for the Cognizant press release.

BB&T(PBR252) to acquire top 50 bank PA based Susquehanna Bancshares for $2.5 billion cash & stock. Click here for the BB&T press release.

UnitedHealth Group(PBR14) forms Office of the CEO, announces senior leadership changes. Click here for the UHG press release.

An Enterprise Products(PBR56) subsidiary & Oiltanking Properties(NYSE: OILT) to merge, $6 billion total value in distributions. Click here for the EP press release.

Annaly Capital(PBR509) subsidiary acquires a portfolio of 11 properties with grocery-anchored shopping centers, total of 1.48 million sq ft. Click here for the Annaly press release.

Macerich(PBR1083) buys remaining 40% stake in Fashion Outlets of Chicago for $70 million, comes after October $205 million sale of South Towne Center in Sandy, UT. Click here for the Macerich press release.

The White House reports on US & China announcement on new actions to reduce carbon pollution. Click here for the White House press release.

The White House blog regarding President Obama’s plan for net neutrality. Click here for the White House press release.

The US Dept of Commerce reports preliminary September Wholesale Trade sales were at $454.3 billion, up 0.2% over August. Click here for the USDOC press release.

Tuesday, November 11:
It’s Veterans Day. A sincere Thank You to all Veterans for your service to our country.

Yahoo!(PBR495) to acquire video ads platform developer BrightRoll for $640 million cash. Click here for the Yahoo! press release.

Mondelez Intl(PBR84) to acquire 80% ownership in Vietnam’s leading confectionary provider Kinh Do Corp for $370 million. Click here for the Mondelez press release.

Fossil Group(PBR637) & fashion Michael Kors Holdings renew global licensing agreement through 2024. Click here for the Fossil press release.

Arthur J Gallagher(PBR648) acquires Arlington Heights, IL, retail insurance agency The Forker Company, terms not disclosed. Click here for the AJG press release.

Service Corp Intl(PBR754) increases share repurchase program to $300 million. Click here for the SCI press release.

Juniper Networks(PBR496) names 17 year company veteran Rami Rahim as CEO, effective immediately, takes over for Shaygan Kheradpir. Click here for the JN press release.

DeVry Education Group(PBR899) announces death of board chairman Dr. Connie Curran; Lyle Logan appointed interim board chair. Click here for the DeVry press release.

The White House provides Fact Sheet on APEC Regional Trade agreements reached in conference in China. Click here for the White House press release.

Monday, November 10:
Heartland Payment Systems(PBR853) acquires foodservice enterprise level POS software developer 25,000 user locations, $15 billion in transactions XPIENT Solutions, terms not disclosed. Click here for the HPS press release.

Arthur J Gallagher(PBR648) acquires Woodland Hills, CA, based SGB-NIA Insurance Brokers, terms not disclosed. Click here for the AJG press release.

The Assn of Professional Flight Attendants narrowly defeats a new contract with American Airlines. Agreement to go to arbitration starting 12/03/14. Click here for the APFA press release.

President Obama’s official statement on net neutrality: Click here for the Whitehouse press release.

Caesars Entertainment(PBR301) announces CFO Donald Colvin retiring on 12/31/14, Eric Hession to become CFO on 01/01/15. Click here for the Caesars press release.

Actavis(PBR297) announces that Maria Teresa(Tessa) Hilado to become CFO, effective 12/08/14, is leaving PepsiCo, & will take over for retiring R Todd Joyce. Click here for the Actavis press release.

Friday, November 7:
DJIA closes week at 17,573.93, +1.05% from last Friday & MTD, +3.12% QTD, +6.02% YTD.
NASDAQ closes week at 4,632.53, +0.04% from last Friday & MTD, +3.10% QTD, +10.92% YTD.
SPX closes week at 2,031.92, +0.69% from last Friday & MTD, +3.02% QTD, +9.93% YTD.

AT&T(PBR12) to acquire Mexico 8.6 million subscriber wireless provider lusacell for $2.5 billion. Click here for the AT&T press release.

Johnson & Johnson(PBR39) completes $1.75 billion cash buy of viral diseases developer Alios BioPharma. Click here for the J&J press release.

Sears Holdings(PBR81) announces possible REIT business plan through sale-leaseback of stores to bolster balance sheet. Click here for the Sears press release.

Estee Lauder(PBR242) to acquire ultraluxury fragrances company Editions de Parfums Frederic Malle, terms not disclosed. Click here for the EL press release.

Calpine Corp(PBR390) completes acquisition of Boston area natural gas-fired 809 Megawatt power plant from Exelon Corp(PBR108) for $530 million. Click here for the Calpine press release.

Bemis(PBR466) completes sale of its global Pressure Sensitive Materials unit(MACtac) to private equity firm Platinum Equity for $170 million. Click here for the Bemis press release.

Ford(PBR8) announces several senior leadership changes. Click here for the Ford press release.

Fastenal(PBR625) announces Willard Oberton is resigning as CEO on 12/31/14, will remain chairman, board elects president Leland Hein to be Pres/CEO on 01/01/15. Click here for the Fastenal press release.

The US Dept of Labor reports that October nonfarm employment was up 214,000 and the unemployment rate drops 0.1% to 5.8%. Click here for the USDOL press release.

The US Federal Reserve Board reports that consumer credit rose to a 6.5% annual rate during the 3rd quarter. Click here for the FRB press release.

Thursday, November 6:
New York Times(PBR976) launches in-school digital subscription program for K-12. Click here for the NYT press release.

Home Depot(PBR35) releases more information on data breaches, including 53 million email addresses. Click here for the HD press release.

Perrigo(PBR563) to buy Belgium based over-the-counter healthcare products company Omega Pharma NV for $4.5 billion cash & equity. Click here for the Perrigo press release.

Arthur J Gallagher(PBR648) acquires San Diego based Discovery Benefit Solutions, terms not disclosed. Click here for the AJG press release.

FreddieMac(PBR33) reports that 30 year fixed mortgage rates as of 11/06/14 averaged 4.02% with 0.5 points. Click here for the FreddieMac press release.

The US Dept of Labor in its preliminary report says that the non-farm labor productivity annual rate was up 2.0% during the 3rd quarter. Click here for the USDOL press release.

The US Dept of Labor reportsthat initial unemployment claims at 278,000, down 10,000 from previous week. 4 week moving average at 279,000. Click here for the USDOL press release.

The US Congressional Budget Office projects the US Dept of Defense 2015-2021 plans to cost an average of $47 billion more per year than provided in the Budget Control Act. Click here for the CBO press release.

Wednesday, November 5:
Motorola Solutions(PBR296) buys back $750 million of common stock from ValueAct Capital. Click here for the MS press release.

AES Corp(PBR171) wins 20 year contracts for 1,384MW of new power at existing California power plants. Click here for the AES press release.

Carnival(PBR173) to increase its fleet capacity by 10% with 4 new ships in the next 18 months. Click here for the Carnival press release.

Booz Allen Hamilton(PBR437) says Carlyle Group(PBR525) affiliate sold 10 million Class A shares to JPMorgan(PBR18), Carlyle will now own 37% of BAH Class A shares. Click here for the BAH press release.

Carlyle Group(PBR525) & coinvestors to acquire investment banking industry software & data platforms provider Dealogic for $700 million. Click here for the CG press release.

Babcock & Wilcox(PBR636) approves spin-off of Power Generation business into a separate publicly held company. Click here for the B&W press release.

Orbital Sciences(PBR1010) announces go-forward plan for NASA’s commercial resupply services program, updates last week’s failed launch. Click here for the OS press release.

Archer-Daniels-Midland(PBR27) Pres/COO Juan Luciano to become Pres/CEO on 01/01/15, Patricia Woertz to remain Chairman. Click here for the ADM press release.

Boise Cascade(PBR635) appoints EVP Tom Corrick as COO, effective immediately. SVP/CFO/Treas Wayne Rancort now an EVP. Click here for the BC press release.

Actavis(PBR297) announces CFO R Todd Joyce to retire in early 2015, exec search firm retained. Click here for the Actavis press release.

The US Dept of Labor reports that inflation adjusted compensation costs for private industry employees increased 0.6% over the past year. Click here for the USDOL press release.

Tuesday, November 4:
It’s Election Day. VOTE!!!

Plains All-American Pipeline(PBR68) & Enterprise Products(PBR56) in 50/50 Eagle Ford joint venture to expand pipelines, add new terminal. Click here for the PAAP press release.

Allergan(PBR391) responds to CA court decision to allow Valeant to vote its 9.7% ownership in the 12/18/14 special stockholders meeting re $54 billion offer. Click here for the Allergan press release.

Liberty Media(PBR570) completes spin-off of publicly held Liberty Broadband(NASDAQ: LBRDA, LBRDK), to start trading 11/05/14. Click here for the LM press release.

Sigma-Aldrich(PBR715) completes buy of invitro diagnostic antibody reagents & kits company Cell Marque. Click here for the S-A press release.

Applied Industrial Technologies(PBR782) has acquired supplier to W Texas upstream oil & gas facilities Ira Pump & Supply, terms not disclosed. Click here for the AIT press release.

The US Bureau of Census/Dept of Commerce reports that the September US international trade balance decreased to -$43.0 billion from -$40.0 billion in August(revised). Click here for the Census/Commerce press release.

The US Bureau of Census/Dept of Commerce reports that September new orders for manufactured goods was down $2.8 billion, or 0.6%, from August to $499.4 billion. Click here for the Census/Commerce press release.

Monday, November 3:
LabCorp(PBR418) to acquire Covance(PBR745) for $105.21/share, $5.6 billion. Click here for the LabCorp press release.

Aetna(PBR57) to acquire private healthcare shopping exchange technologies company bswift for $400 million. Click here for the Aetna press release.

Alcoa(PBR122) investing $190 million in Davenport Works, IA, facility, to expand aerospace/industrial applications. Click here for the Alcoa press release.

Estee Lauder(PBR242) completes acquisition of French heritage high end fragrancy & sensory lifestyle company Le Labo. Click here for the EL press release.

Agilent Technologies(PBR365) completes spin-off of electronic measurements business Keysight, now publicly trading under KEYS. Click here for the AT press release.

Blackstone Group(PBR372) & PAI Partners sell UK based United Biscuits to Yildiz Holding, terms not disclosed. Click here for the Blackstone press release.

Dr Pepper Snapple(PBR409) acquires assets of E Pennsylvania based Davis Bottling & Davis Beverage, terms not disclosed. Click here for the DrPS press release.

Frontier Communications(PBR492) expands strategic agreement with Intuit(PBR548) to provide support for online small business services for $100 million over 3 years. Click here for the FC press release.

Vornado Realty(PBR709) to sell 1740 Broadway for $605 million, completes acquisition of St Regis Avenue Retail. Click here for the VR press release.

Sigma-Aldrich(PBR715) announces 12/05/14 as stockholder special meeting date for vote on $17 billion acquisition by Germany based Merck. Click here for the S-A press release.

Chemtura(PBR828) completes $1 billion sale of its AgroSolutions unit to Platform Specialty Products(NR). Click here for the Chemtura press release.

AIG(PBR41) approves new $1.5 billion stock repurchase program. Click here for the AIG press release.

Centrus Energy(PBR1030), fka USEC, receives NYSE notice saying it is now in compliance for being listed. Click here for the CE press release.

Arrow Electronics(PBR129) names Gregory Tarpinian SVP, General Counsel, & Secretary, succeeds Peter Brown who is retiring. Click here for the AE press release.

Church & Dwight(PBR646) adds COO title to CFO Matthew Farrell. Click here for the C&D press release.

Barnes Group(PBR1068) announces the retirement of Chairman Thomas Barnes, scheduled for 12/31/14. Click here for the Barnes Group press release.

The US Dept of Commerce reports preliminary September Construction Spending Annual Rate was $950.9 billion, -0.4% from August, +2.9% from September, 2013. Click here for the USDOC press release.

Saturday, November 1:
The PBR1000 October 2014 Breaking News Recap has been released. Click here for the blog post.

(Photo courtesy of freedigitalphotos.net, franky242.)

Filed Under: Recaps Tagged With: acquisitions, Business, Leadership, mergers, Rankings, Stock Market, The PBR1000

The PBR1000: The October 2014 Breaking News Recap!

November 2, 2014 by admin

ID-10064146 Construction Tools in Cart-Vichaya Kiatying-Angsulee

What Tools Should Be Used To Keep Making Progress?

By Larry C. Paxton

In October the new US government “inversion” policies apparently had an effect as some major deals among The PBR1000 fell through and there were few mergers announced with headquarters moving offshore. There were a lot of spin-offs announced and some changes in C-level leadership.

The Federal Reserve announced that it is stopping the Quantitative Easing program. Other impacts will be reviewed in The PBR1000 Stocks/Commodities Snapshot that will be released in a few days.

Globally the US is the leader in the many years recovery. But it is still a fragile situation. It will be interesting to see what “tools” businesses and governments use to get to the post recovery phase.

Breaking news items of interest for October for The PBR1000 follow, with the most current date first.

Friday, October 31:
DJIA closes week at 17,390.52, +3.48% from last Friday, +2.04% MTD & QTD, +4.91% YTD.
NASDAQ closes week at 4,630.74, +3.28% from last Friday, +3.06% MTD & QTD, +10.87% YTD.
SPX closes week at 2,018.05, +2.72% from last Friday, +2.32% MTD & QTD, +9.18% YTD.

IBM(PBR23) & China based Tencent Cloud sign agreement for providing cloud based services to businesses. Click here for the IBM press release.

Dollar General(PBR154) extends deadline for $80/share tender offer for Family Dollar(PBR254) to 12/31/14, 5PM. Click here for the DG press release.

Estee Lauder(PBR242) acquires luxury skin care brand RODIN olio lusso, terms not disclosed. Click here for the EL press release.

Level 3 Communications(PBR389) completes $7.3 billion acquisition of tw telecom. Click here for the Level 3 press release.

Newell Rubbermaid(PBR420) to pursue selling its Endicia online postage and Calphalon retail outlet stores & kitchen electronics businesses. Click here for the NR press release.

Sonoco Products(PBR481) completes acquisition of Europe based composite containers provider Weidenhammer Packaging Group for $360 million cash. Click here for the Sonoco press release.

Arthur J Gallagher(PBR648) acquires Western US based insurance broker Insurance Associates, terms not disclosed. Click here for the AJG press release.

FreddieMac(PBR33) in 3rd quarter refinance report estimates that $8.0 billion was cashed out on home equity refinancing, up $2.4 billion from the 2nd quarter. Click here for the FreddieMac press release.

The US Dept of Commerce reports that September personal income was up 0.2% over August, disposable income up 0.1%. Click here for the USDOC press release.

Thursday, October 30:
Lockheed Martin(PBR61) to acquire private 500+ employee provider of healthcare IT solutions for the government company Systems Made Simple. Click here for the LM press release.

Harman International(PBR448) authorizes $500 million over 3 years stock repurchase program. Click here for the Harman press release.

Allison Transmission(PBR897) authorizes $500 million stock repurchase program. Click here for the AT press release.

Carnival(PBR173) announces that President/CEO Gerry Cahill will retire on 11/30/14, no replacement named. Click here for the Carnival press release.

Harman International(PBR448) appoints Sandra Rowland as EVP/CFO, effective 01/01/15, succeeds Herbert Parker who has been appointed EVP/Operational Excellence. Click here for the Harman press release.

Curtiss-Wright(PBR767) Executive Chairman Martin Benante to retire 01/01/15, CEO David Adams to then also become Chairman. Click here for the C-W press release.

Yahoo!(PBR495) names Lisa Utzschneider as SVP/Sales, Americas, will report to CEO Marissa Meyer. Ned Brody to become SVP/Advertising Technology & Strategy. Click here for the Yahoo! press release.

The US Dept of Commerce in Advance Estimate says 3rd quarter GDP annual rate was 3.5%. Click here for the USDOC press release.

The US Dept of Labor in initial report says on 10/25/14 initial unemployment claims were 287,000, up 3,000 from previous week. Click here for the USDOL press release.

FreddieMac(PBR33) reports 30 year fixed mortgage rates on 10/30/14 averaged 3.98% with 0.5 points. Click here for the FreddieMac press release.

Wednesday, October 29:
MasterCard(PBR307) & Zilzar.com collaborate to target $2.5 trillion Muslim lifestyle marketplace. Click here for the MasterCard press release.

Abbott Labs(PBR127) to acquire private electrophysiology technologies medical device company Topera for $250 million plus incentives. Click here for the Abbott Labs press release.

Booz Allen Hamilton(PBR437) acquires Boston based epidemiological & analytics company Epidemico, terms not released. Click here for the BAH press release.

RadioShack(PBR617) on track to have its Fix It Here! mobile device repair service in 750 locations by year end. Click here for the RadioShack press release.

IBM(PBR23) to use its analytics tools in partnership with Twitter(NR) and its data for commercial purposes. Click here for the IBM press release.

VISA(PBR227) authorizes new $5 billion stock repurchase program. Click here for the VISA press release.

CenterPoint Energy(PBR317) appoints SVP/Chief Accounting Officer, SVP/Chief Information Officer, & SVP/Chief Customer Officer. Click here for the CE press release.

RadioShack(PBR617) announces Harry Wilson, CEO of MAEVA Group, to be Chief Revitalization Officer, reports to CEO. Click here for the RadioShack press release.

Applied Industrial Technologies(PBR782) elects Peter Wallace, CEO for private Gardner Denver, as independent Chairman. Succeeds John Meier who will continue to serve on the board. Click here for the AIT press release.

Black Hills(PBR1033) announces EVP/CFO Anthony Cleberg retiring 03/31/15, VP/Controller Richard Kinsley to become SVP/CFO 01/01/15. Click here for the BH press release.

The US Federal Reserve Board gives its assessment of the US economy, to conclude its asset purchase program this month. Click here for the FRB press release.

Tuesday, October 28:
Amgen(PBR144) to accelerate dividend payouts, reinitiate $2 billion stock repurchase program, layoff an additional 600-1,000 people. Click here for the Amgen press release.

Chevron(PBR3) announces $6 billion development project with Hess Corp(PBR114) operated Stampede project in deepwater US Gulf of Mexico. Click here for the Chevron press release.

Macy’s(PBR97) to open its first international Macy’s store in 2018 in Abu Dhabi in the United Arab Emirates. Click here for the Macy’s press release.

Level 3 Communications(PBR389) & tw telecom stockholders approve merger, expected to close by 11/05/14. Click here for the Level 3 press release.

SunEdison(PBR882) & Rajasthan Government in India sign Memorandum of Understanding to develop 5 gigawatts of solar power. Click here for the SunEdison press release.

Family Dollar(PBR254) mailing out proxy info for special stockholders meeting on 12/11/14 to vote on $9.2 billion merger with Dollar Tree(PBR328). Click here for the Family Dollar press release.

Alliant Techsystems(PBR489) sets 12/09/14 for special stockholders meeting to vote on merger of aerospace unit with Orbital Sciences(PBR1010). Click here for the AT press release.

Orbital Sciences(PBR1010) comments on failed Antares rocket launch with supplies to the international space station. Click here for the OS press release.

IBM(PBR23) adds $5 billion to $1.4 billion remaining for stock repurchase program. Click here for the IBM press release.

AutoNation(PBR152) in 3rd quarter report says it has purchased 8% of outstanding shares, has increased share repurchase program, now has $281 million available. Click here for the AutoNation press release.

The US Dept of Commerce reports that the end of the 3rd quarter 2014 homeownership rate was at 64.4%, -0.9% from the 3rd quarter 2013. Click here for the USDOC press release.

Monday, October 27:
Chiquita Brands(PBR658) agrees to be acquired by Brazilian based Cutrale/Safra Groups for $14.50/share, $1.3 billion includes debt, to close late 2014/early 2015. Click here for the Chiquita press release.

Allergan(PBR391) confirms receipt of Valeant merger letter, says no new terms proposed. Click here for the Allergan press release.

Micron Technology(PBR284) authorizes $1 billion stock repurchase program. Click here for the MT press release.

HCA(PBR76) elects CEO Milton Johnson as Chairman, effective 12/31/14, succeeds Richard Bracken who is retiring. Click here for the HCA press release.

Advanced Micro Devices(AMD)(PBR451) hires Forrest Norrod as SVP/GM for Enterprise, Embedded, and Semi-Custom Business, reports to Pres/CEO Lisa Su. Click here for the AMD press release.

Hill-Rom(PBR945) appoints Steven Strobel as SVP, effective 11/03/14, will add CFO title on 12/01/14. Click here for the Hill-Rom press release.

Friday, October 24:
DJIA closes week at 16,805.41, +2.59% from last Friday, -1.39% MTD & QTD, +1.38% YTD.
NASDAQ closes week at 4,483.72, +5.29% from last Friday, -0.22% MTD & QTD, +7.35% YTD.
SPX closes week at 1,964.58, +4.12% from last Friday, -0.39% MTD & QTD, +6.29% YTD.

Level 3 Communications(PBR389) receives FTC approval for $7.3 billion acquisition of tw telecom(NASDAQ: TWTC). Click here for the Level 3 press release.

Chiquita Brands(PBR658) shareholders vote to not pursue Ireland based Fyffes merger deal, both sides terminate discussions, Chiquita to enter into more discussions with Brazilian based Cutrale-Safra Groups. Click here for the Chiquita Brands press release.

Frontier Communications(PBR492) completes its $2 billion acquisition of AT&T(PBR12) Connecticut’s wireline, broadband & video operations. Click here for the FC press release.

Proctor & Gamble(PBR32) in 1st quarter results announces plan to spinoff Duracell battery unit into a separate company. Click here for the P&G press release.

Avis Budget(PBR325) to acquire the Budget licensee, the Mirkin family, for S. California & Las Vegas for $210 million plus fleet cost. Click here for the AB press release.

Celanese(PBR377) increases shares repurchase program to $500 million. Click here for the Celanese press release.

SandRidge Energy(PBR884) files registration for MidCon Midstream, LP, for Initial Public Offering on NYSE. Click here for the SandRidge press release.

Blackhawk Network(PBR1058) completes $290 million acquisition of global incentive solutions provider Parago, will be a subsidiary. Click here for the BN press release.

DuPont(PBR82) EVP/Chief Innovation Officer Tom Connelly, Jr, to retire; SVP Jim Collins, Jr, to become EVP, SVP Matt Trerotola to become EVP, both become members of Office of the CEO, effective 12/01/14. Click here for the DuPont press release.

Avery Dennison(PBR402) names SVP/CFO Mitchell Butier President/COO, effective 11/01/14. Click here for the AD press release.

US Census/HUD report that the September annual rate of new home sales was 467,000, August was 466,000; median price was $259,000, average price $313,200. Click here for the Census/HUD press release.

Thursday, October 23:
Pfizer(PBR53) authorizes new $11 billion share buyback program, adds to $1.3 billion current program. Click here for the Pfizer press release.

Jarden(PBR341) to do 3:2 stock split on 11/24/14 for stockholders of record on 11/03/14. Click here for the Jarden press release.

Dr Pepper Snapple(PBR409) to buy back $375-400 million in shares per 3rd quarter results report. Click here for the Dr Pepper Snapple press release.

Chiquita Brands(PBR658) confirms receipt of $14.50/share revised offer from Cutrale & Safra Groups, ahead of Chiquita/Fyffes merger vote. Click here for the Chiquita Brands press release.

Coca-Cola Co(PBR58) Chief Marketing & Commercial Officer Joe Tripodi to retire 02/28/15, company veteran Marcos de Quinto to become CMO. Click here for the Coca-Cola Co press release.

Alcoa(PBR122) selling majority stake in Mt Holly Smelter in Goose Creek, SC, to Century Aluminum for $67.5 million. Click here for the Alcoa press release.

FreddieMac(PBR33) reports that 30 year fixed mortgage rates are at 3.92% with 0.5 points. Click here for the FreddieMac press release.

Carpenter Technology(PBR836) announces 2 year $500 million stock repurchase plan. Click here for the Carpenter Technnology press release.

Allegheny Technologies(PBR566) announces Elizabeth Powers as new SVP, Chief Human Resources Officer, effective 11/01/14. Click here for the Allegheny Technologies press release.

EMCOR(PBR385) announces $250 million share buyback program. Click here for the EMCOR press release.

Asbury Automotive(PBR449) appoints David Hult as next EVP/Chief Operating Officer, effective 11/03/14. Click here for the Asbury Auto press release.

Wednesday, October 22:
SunEdison(PBR882) gets agreement to build 30 solar systems for 9 public agencies in San Francisco area. Click here for the SunEdison press release.

AT&T(PBR12) in its 3rd quarter earnings report says it has 2 million wireless net additional subscribers year to date. Click here for the AT&T press release.

Brunswick(PBR576) authorizes up to $200 million over 2 years for shares repurchase program. Click here for the Brunswick press release.

Johnson & Johnson(PBR39) makes $200 million commitment to speed Ebola vaccine development & greatly expand production. Click here for the JNJ press release.

Actavis(PBR297) to invest $40 million & get exclusive option after Phase 2b study to buy a Rhythm subsidiary & its gastrointestinal product rights. Click here for the Actavis press release.

A. Schulman(PBR854) realigning its European back office & support functions, reducing headcount. Click here for the A Schulman press release.

Davita Healthcare(PBR309) to acquire 100+ physicians 11 locations Colorado Springs Health Partners, to close in 4th quarter. Click here for the Davita press release.

First Horizon National’s(PBR1027) First Tennessee Bank to expand into N. Carolina with TrustAtlantic acquisition. Click here for the FHN press release.

FreddieMac(PBR33) releases its October US Economic & Housing Market Outlook & forecast. Click here for the FreddieMac press release.

The US Dept of Labor reports that September average weekly earnings were $848.74, up from $846.63 in August. Click here for the USDOL press release.

The US Dept of Labor reports that the September Consumer Price Index for all items was +0.1% over August, was -0.2% in August, is +1.7% over past 12 months. Click here for the USDOL press release.

Tuesday, October 21:
Coca-Cola Co(PBR58) refranchising most bottling operations by end of 2017, rest of world by 2020. Click here for the Coca-Cola press release.

Kimberly-Clark(PBR130) in 3rd quarter results report announces layoffs of 1,100-1,300 by end of 2016. Click here for the Kimberly-Clark press release.

Amgen(PBR144) confirms receipt of letter from key shareholder Third Point suggesting company separate into two companies. Click here for the Amgen press release.

FIS(PBR406) to appoint Pres/COO Gary Norcross as Pres/CEO on 01/01/15, Chairman/CEO Frank Martire as Exec Chairman. Click here for the FIS press release.

The National Association of Realtors reports that September existing home sales were at a 5,170,000 annual rate, +2.4% over August, median price was $209,700. Click here for the NAR press release.

Monday, October 20:
AbbVie(PBR142) terminates inversion merger talks with Ireland based Shire. Click here for the AbbVie press release.

AbbVie(PBR142) announces $5 billion shares buyback program, increases dividend. Click here for the AbbVie press release.

Citrix Systems(PBR683) acquires cloud-based signature capture company RightSignature, terms not disclosed. Click here for the Citrix press release.

Celanese(PBR377) has acquired the assets of conductive polymers co Cool Polymers, terms not disclosed. Click here for the Celanese press release.

Friday, October 17:
DJIA closes week at 16,380.41, -0.99% from last Friday, -3.89% MTD & QTD, -1.18% YTD.
NASDAQ closes week at 4,258.44, -0.42% from last Friday, –5.23% MTD & QTD, +1.96% YTD.
SPX closes week at 1,886.76, -1.02% from last Friday, -4.34% MTD & QTD, +2.08% YTD.

Cliffs Natural Resources(PBR421) to post a $6 billion non-cash impairment to long-lived assets. Click here for the CNR press release.

AECOM Technology(PBR316) completes $6 billion acquisition of engineering & construction firm URS. Click here for the AECOM press release.

Chiquita Brands(PBR658) board unanimously rejects $14/share offer by Brazil based Cutrale/Safra Groups. Click here for the Chiquita press release.

Asbury Automotive(PBR449) increases stock repurchase program to $200 million. Click here for the Asbury Automotive press release.

The US Census/HUD reports September Housing Starts at an annual rate of 1,017,000, +6.3% over August, +17.8% over September 2013; September Building Permits at annual rate of 1,018,000, +1.5% over August, +2.5% over September 2013. Click here for the Census/HUD press release.

Thursday, October 16:
Chesapeake Energy(PBR153) selling 435 wells to Southwestern Energy(PBR622) for $5.375 billion. Click here for the Chesapeake Energy press release.

Amazon(PBR36) to hire 80,000 holiday workers. Click here for the Amazon press release.

CF Industries(PBR438) and Yaro International ASA terminate discussions on possible merger. Click here for the CF Industries press release.

Cytec Industries(PBR893) announces $200 million stock repurchase program. Click here for the Cytec press release.

Gap Inc(PBR167) announces $500 million stock repurchase program, follows $1 billion repurchase plan. Click here for the Gap press release.

Wednesday, October 15:
Hewlett-PackardP(PBR17) resumes stock repurchase program, returning 50%+ of free cash flow to shareholders. Click here for the HP press release.

QUALCOMM(PBR109) to acquire UK chip maker CSR for $2.5 billion. Click here for the QUALCOMM press release.

Ingredion to acquire specialty ingredients provider Penford Corp for $340 million. Click here for the Ingredion press release.

Estee Lauder(PBR242) to acquire high-end fragrancy company Le Labo, expected to close in November, terms not disclosed. Click here for the Estee Lauder press release.

Alcoa(PBR122) selling its Jamalco bauxite mining & alumina refining joint venture stake to Noble Group for $140 million. Click here for the Alcoa press release.

Beacon Roofing(PBR826) is acquiring Dallas/Ft Worth based Wholesale Roofing Supply, terms not disclosed. Click here for the BR press release.

Frontier Communications(PBR492) receives Connecticut approval to acquire AT&T(PBR12) Connecticut’s wireline service, expected to close on 10/24/14. Click here for the FC press release.

SunEdison(PBR882) Global Services Division exceeds 3 gigawatts of solar voltaic capacity worldwide. Click here for the SunEdison press release.

Chiquita Brands(PBR658) confirms receipt of $14/share revised offer from Brazil based Cutrale & Safra Groups. Click here for the Chiquita press release.

The US Dept of Labor reports that the September Producer Price Index was down -0.1%, is up 1.6% for past 12 months. Click here for the USDOL press release.

The US Dept of Commerce in the September Advance Monthly Retail/Food Services reports sales -0.3% from August, up 4.3% from Sept 2013. here for the USDOC press release.

Tuesday, October 14:
ANN(PBR772) enters into non-disclosure agreement with major stockholder Golden Gate Capital for more detailed discussions. Click here for the ANN press release.

The new board of Darden Restaurants(PBR392) appoints President/COO Gene Lee as Interim CEO, effective immediately. Click here for the Darden press release.

CME Group(PBR678) to layoff 5% of workforce, 150 positions, mostly from technology. Click here for the CME Group press release.

Gap Inc(PBR167) plans to hire 63,000 holiday season employees. Click here for the Gap press release.

Agilent Technologies(PBR365) to close its nuclear magnetic resonance business, will eliminate 300 jobs over next 12 months. Click here for the Agilent press release.

Alliance Data(PBR537) Canadian Loyalty Business signs multi-year agreement with 450 store pharmaceutical retailer Rexall. Click here for the Alliance Data press release.

Monday, October 13, Columbus Day:
Targa Resources(PBR375) is buying Atlas Pipeline & Atlas Energy(PBR748) for $7.7 billion. Click here for the Targa press release.

STERIS(PBR966) is buying UK based hospital sterilization technologies Synergy Health for $1.9 billion cash & stock. Click here for the STERIS press release.

Danaher(PBR139) to combine its Communications business with NetScout Systems(NASDAQ: NTCT) in $2.6 billion deal, to close in 2015. Click here for the Danaher press release.

General Electric(PBR9) Capital Aviation Services to acquire Ireland based helicopter lessor Milestone Aviation Group for $1.775 billion. Click here for the GE press release.

Archer-Daniels-Midland(PBR27) to acquire healthy ingredients provider Specialty Commodities for $170 million, will become part of WILD Flavors unit. Click here for the ADM press release.

JCPenney(PBR225) names Home Depot(PBR35) executive Marvin Ellison as president effective 11/01/14, to become CEO in August, 2015. Click here for the JCP press release.

AES Corp(PBR171) is selling its Turkey based energy development assets for $125 million, to close in 1st quarter 2015. Click here for the AES press release.

Ford Motor(PBR8) to hire 850 additional workers for its Dearborn Rouge F-150 plant. Click here for the Ford press release.

France’s Iliad confirms it is no longer pursuing a merger with T-Mobile US(PBR115). Click here for the Iliad press release.

Becton Dickinson(PBR319) acquires Irish based sequencing & genotyping company GenCell Biosystems, terms not disclosed. Click here for the BD press release.

Arthur J Gallagher(PBR648) is acquiring Decatur, IL retail insurance broker Bennett & Shade Co, terms not disclosed. Click here for the AJG press release.

Friday, October 10:
DJIA closes week at 16544.10, -2.74% from last Friday, -2.93% MTD & QTD, -0.20% YTD.
NASDAQ closes week at 4,276.24, -4.45% from last Friday, -4.83% MTD & QTD, +2.39% YTD.
SPX closes week at 1,906.13, -3.14% from last Friday, -3.35% MTD & QTD, +3.13% YTD.

Darden Restaurants(PBR392) preliminary results shows Starboard’s 12 nominees elected to board, new CEO to be appointed. Click here for the Darden press release.

The Blackstone Group(PBR372) financial advisory services units to spin-off, join PJT Partners, become a new public company in 2015. Click here for the Blackstone press release.

Medtronic(PBR162) announces structure & executive leadership team upon anticipated merger with Covidien. Click here for the Medtronic press release.

Caterpillar(PBR49) announces retirement of 2 group presidents, new appointments. Click here for the Caterpillar press release.

CIT Group(PBR606) & Century Tokyo Leasing form partnership for aerospace leasing. Click here for the CIT Group press release.

Amphenol(PBR504) 2:1 stock split takes effect.

Thursday, October 9:
Endo Health(PBR738) to acquire Auxilium Pharmaceuticals for $33.25/share, $2.6 billion cash & stock. Click here for the Endo Health press release.

Symantec(PBR368) to split into 2 public companies by end of 2015, a security company and an information technology company. Click here for the Symantec press release.

Kindred Healthcare(PBR476) to acquire Gentiva Health(PBR940) for $19.50/share, $1.8 billion, includes debt, to close in 1st quarter 2015. Click here for the Kindred press release.

Time Warner Cable(PBR125) shareholders approve $45.2 billion merger with Comcast(PBR44). Click here for the TWC press release.

Alaska Air(PBR459) & Association of Flight Attendants reach tentative agreement on a new 5 year contract with carrier’s 3,300 flight attendants. Click here for the Alaska Air press release.

Ashland(PBR331) selling non-core elastomers business to Lion Copolymer Holdings, terms not disclosed. Click here for the Ashland press release.

Hill-Rom(PBR945) appoints former Baxter International(PBR176) executive Carlyn Solomon as new COO. Click here for the Hill-Rom press release.

The US Census Bureau reports that August sales of merchant wholesalers was $453.9 billion, down 0.7% from July, up 5.8% from August 2013. Inventories were at $538.0 billion, up 0.1% from July, up 7.9% from August 2013. Click here for the USCB press release.

Wednesday, October 8:
Graco(PBR1066) selling its Liquid Finishing business assets to Carlisle Companies(PBR676) for $590 million cash, to close 1st quarter 2015. Click here for the Graco press release.

EMC Corp(PBR119) sent letter by shareholder Elliott Management recommending spin-off of VMWare(PBR454). Click here for the Business Wire article, which includes letter.

Yahoo!(PBR495) is laying off a third, around 500, of its India staff according to several news sources.

Gap Inc(PBR167) CEO Glenn Murphy to retire on 02/01/15, GAP digital leader Art Peck will then become next CEO. Click here for the Gap press release.

Advanced Micro Devices(AMD)(PBR451) appoints Dr. Lisa Su as president/CEO, effective immediately as Rory Read steps down. Click here for the AMD press release.

The Congressional Budget Office reports FY2014 Fed Govt receipts were $3.013 trillion, outlays were $3.499 trillion, deficit is $486 billion, down from $680 billion in FY2013. Cllick here for the CBO press release.

The Federal Reserve Board releases the minutes of its Federal Open Market Committee meeting held 09/16-17/14. Click here for the FRB FOMC minutes.

Tuesday, October 7, 2014:
DISH Network(PBR199) extends its multi-year agreement with Frontier Communications(PBR492) to bundle DISH services with its internet technologies. Click here for the DISH press release.

Cognizant Technology(PBR292) acquires digital marketing agency Cadient Group, terms not disclosed. Click here for the Cognizant press release.

Kimberly-Clark(PBR130) announces details for completion of publicly held health care spin-off Halyard Health by end of October. Click here for the Kimberly-Clark press release.

The US Dept of Labor reports that at the end of August there were 4.8 million job openings, up 0.2 million from July, that the hire rate was 3.3%, and the separations rate was 3.2%. Click here for the USDOL press release.

The US Federal Reserve Board reports that the August consumer credit annual rate was up 5%, revolving credit -0.25%, non-revolving credit +7%. Click here for the FRB press release.

Monday, October 6:
Chevron(PBR3) selling 30% interest in the Canada’s Duvernay shale assets to Kuwait based KUFPEC for $1.5 billion, now a joint partnership. Click here for the Chevron press release.

Hewlett-Packard(PBR17) to split into 2 public companies, Hewlett-Packard Enterprise & HP, Inc. by the end of 2015. Click here for the HP press release.

Actavis(PBR297) to buy developer of medicines for infectious diseases & acute illnesses Durata Therapeutics(NASDAQ: DRTX) for $23/share, $675 million. Click here for the Actavis press release.

Hilton Worldwide(PBR271) is selling the Waldorf Astoria New York to China based Anbang Insurance for $1.95 billion. Click here for the Hilton press release.

Liberty Interactive Corp(PBR232) splitting into 2 publicly held groups, QVC Group(NASDAQ: QVCA & QVCB) & eCommerce oriented Liberty Ventures Group(NASDAQ: LVNTA & LVNTB). Click here for the LIC press release.

BE Aerospace(PBR608) appoints Joseph Lower as VP/Finance, will become CFO up separation of KLX unit. Click here for the BEA press release.

Sunday, October 5:
Becton Dickinson(BD)(PBR319) to buy medical devices & instruments developer CareFusion(PBR580) for $12.2 billion. Click here for the BD press release.

Friday, October 3:
DJIA closes week at 17,009.69, -0.60% from last Friday, -0.19% MTD & QTD, +2.61% YTD.
NASDAQ closes week at 4,475.62, -0.81% from last Friday, -0.40% MTD & QTD, +7.16% YTD.
SPX closes week at 1,967.90, -0.75% from last Friday, -0.22% MTD & QTD, +6.47% YTD.

Medtronic(PBR162) announces plan for $16 billion in external debt to help finance the $49.2 billion Covidien deal. Click here for the Medtronic press release.

KKR(PBR270) Natural Resources & Fleur de Lis Energy to acquire Permian Basin properties from Linn Energy for $350 million. Click here for the Medtronic press release.

Sigma-Aldrich(PBR715) to acquire immunohistochemistry 90 person firm Cell Marque, terms not disclosed. Click here for the S-A press release.

JPMorgan Chase(PBR18) completes its $3.5 billion sale of its physical commodities business to Mercuria Energy Group & others. Click here for the JPMC press release.

Chiquita(PBR658) & Ireland based Fyffes receive European Commission approval for merger, special shareholders meeting set of 10/24/14. Click here for the Chiquita press release.

The US Dept of Labor reports 248,000 more people were working in Sept, the unemployment rate drops from 6.1% to 5.9%. Click here for the USDOL press release.

The US Dept of Commerce reports total August exports of $198.5 billion, imports of $238.6 billion, for a deficit of $40.1 billion, down from $40.3 billion in July. Click here for the USDOC press release.

Thursday, October 2:
Constellation Brands(PBR479) to acquire Mexico based AB InBev glass plant for $300 million, expand beer production, & additional plans. Click here for the CB press release.

Dow Chemical(PBR48) updates progress on $4.5-$6 billion in planned non-strategic divestitures by end of 2015. Click here for the DC press release.

Berkshire Hathaway(PBR4) to acquire largest US privately owned auto dealership Van Tuyl Group, terms not disclosed. Click here for the BH press release.

Sears Holdings(PBR81) to generate $380 million from sale of Sears Canada, close expected early November. Click here for the Sears press release.

FIS(PBR406) completes $600 million acquisition of Brussels based payments solution provider Clear2Pay. Click here for the FIS press release.

Dover(PBR295) has acquired oil & gas artificial lift & fluid handling solutions provider Accelerated Companies for $430 million. Click here for the Dover press release.

Walt Disney(PBR62) extends Chairman/CEO Robert Igor’s contract through 06/30/18. Click here for the Walt Disney press release.

The US Dept of Commerce says August new orders for manufactured goods was -$56.1 billion from July, -10.1%, to $502.0 billion. Click here for the USDOC press release.

The US Dept of Labor reports that initial jobless claims for week ending 09/27/14 was 287,000, down 8,000 from the previous week. Click here for the USDOL press release.

Wednesday, October 1:
The PBR1000 September 2014 Breaking News Recap has been released. Click here for the The PBR1000 September Breaking News Recap blog.

ADP(PBR217) completes spin-off of its Dealer Services unit CDK Global(NASDAQ: CDK). Click here for the ADP press release.

Enterprise Products(PBR56) acquires the general partner & LP interests in Oiltanking Services(NYSE: OILT) for $4.41 billion, proposes merger for $6 billion. Click here for the EP press release.

Archer-Daniels-Midland(PBR27) completes $3.13 billion acquisition of Swiss company WILD Flavors. Click here for the ADM press release.

Bank of America(PBR21) board adds Chairman title to CEO Brian Moynihan, effective immediately. Click here for the BofA press release.

General Motors(PBR7) outlines its strategic plan to achieve 9-10% margins. Click here for the GM press release.

Dollar General(PBR154) extends its $80/share offer to acquire Family Dollar(PBR254) from 10/08/14 to 10/31/14. Click here for the Dollar General press release.

Owens & Minor(PBR285) completes acquisition of procedure based kits & trays provider Medical Action Industries for $207 million. Click here for the O&M press release.

Fastenal(PBR625) has acquired aerospace product distributor Av-Tech Industries, terms not disclosed. Click here for the Fastenal press release.

Carlisle(PBR676) acquires medical devices interconnect components provider LHi Technology for $195 million. Click here for the Carlisle press release.

Beacon Roofing Supply(PBR826) has acquired Portland, ME, based residential roofing, siding, & windows distributor Applicators Sales & Service, terms not disclosed. Click here for the Beacon press release.

Babcock & Wilcox(PBR636) evaluating possible split into 2 public companies, Power Generation & Government/Nuclear Operations. Click here for the B&W press release.

SunEdison(PBR882) new proprietary polysilicon technology to slash cost of solar power to $0.40/watt by 2016. Click here for the SunEdison press release.

Lehigh Gas Partners(PBR894) general partner purchased by CST Brands, name changed to CrossAmerica Partners, LP, will start trading on NYSE: CAPL.

Centrus Energy(PBR1030), fka USEC Corporation, names Mikel Williams as chairman, Chief Restructuring Officer John Castellano to become Interim President/CEO on 10/17/14 while search for CEO starts. Click here for the SunEdison press release.

The US Census Bureau reports that the construction spending annual rate for August was $961.0B, down from $968.8B in July. Click here for the Census press release.

(Photo courtesy of freedigitalphotos.net, Vichaya Kiatying-Angsulee.)

Filed Under: Recaps Tagged With: acquisitions, Business, Leadership, mergers, Rankings, Stock Market, The PBR1000

The PBR1000: The CEO Longevity Snapshot-July 2014!

July 16, 2014 by admin

Who Wants To Be A The PBR1000 Company CEO?

By Greyson Gardlik.

The CEO’s of The PBR1000 companies not only have control over their companies, but in today’s ever changing economy, the CEO’s can affect the entire market. This article will provide some observations on CEO longevity based on a compilation by the PBRMarketTools.com Team, focused on The PBR1000, which currently contains key demographic, financial, industry and people data based on 1,078 of the largest publicly traded with principle offices in the US.

Currently there are only 144 of the 1,078 CEOs that were appointed before the year 2000, which means since the millennia 86.6 percent of the companies have had management changes in this new era of business. Already through June of this year there have been 59 new CEO appointments, varying across the many different companies including Walmart(PBR1). Since 2010 almost half of The PBR1000 re-structured their chief management position with 446 new appointments in the past 4.5 years.

By year in descending order here are the current number of CEOs that have been appointed:

2014 (through June 30^th) Appointed: 59
2013: 110
2012: 102
2011: 96
2010: 79
2009-2005: 338 (5 years approx. an average of about 68 per year)
Before 2005: 289

The company with the longest serving CEO in The PBR1000 is the Founder and Chairman/CEO of L Brands(PBR247), Leslie Wexner, who has been serving since 1963, 51 years.Currently in The PBR1000 the median year of CEO appointment sits at 2008 for all of the 1,078 companies we follow, which has shifted one year forward from last year’s median of 2007. We also must keep in mind that 521 CEOs, just under half of the 1,078 companies appointed new CEOs between 2009 and June 2014, which could bump the median by the end of the year to 2009.

When looking at the 100 highest revenue-producing companies, 60 of them have replaced their CEO’s during 2009-2014 (June). When looking at the CEO longevity for the companies who didn’t crack the top 100 but fell between $2 billion and $27 billion in revenues for 2013 the median year was 2008 and the average year they were appointed was about 2006. The companies that did below the $2 billion in revenues were similar to the companies who fell between $2 and $27 billion with a median year of 2008 and the average year appointed of about 2006.

For the 100 most profitable companies the data shows that 50 of them have changed management between 2009 -2014 (June).

The companies that did between $50 million and $2.3 billion in profits had a median CEO appointment of 2008 and an average of 2006.

However the companies who were least profitable of The PBR 1000, companies with profits below $50 million, had a median CEO appointment year of 2010 and an average appointment year of about 2008, which is a full two-year jump compared to the median and mean years compared to the data for revenues.

Here are some examples of industries broken down by median CEO appointment year as well as the average CEO appointments for specific sector. These 15 sectors consist of 339 of The PBR 1000 companies. The information is ordered by SIC numbers, title of sector, number of companies, median CEO appointment year and then average appointment year.

SIC 1311, Petroleum & Natural Gas: 25 Companies, 2009, and 2006.
SIC 2834, Pharmaceuticals: 17 Companies, 2010, and 2007.
SIC 2911, Petroleum Refining: 13 Companies, 2010, and 2007.
SIC 3310-3357, Steal Manufacturing: 17 Companies, 2007, and 2006
SIC 3670-3690, Electronic Components: 34 companies, 2008.5, and 2007.
SIC 3711-3790, Transportation Manufacturing: 41 Companies, 2010, and 2009.
SIC 4911, Electric Services: 23 Companies, 2010, and 2009
SIC 5600-5661, Retail (Apparel, Family, Shoes): 22 Companies, 2007.5, and 2004
SIC 6021, National Banks: 18 Companies, 2009.5, and 2008
SIC 6200-6282, Investment Services: 27 Companies, 2005, and 2002.
SIC 6798, Real Estate Investment Trusts: 23 Companies, 2004, and 2003.
SIC 7011, Hotels/Motels, 12 Companies: 2007, and 2007.
SIC 7370-7374, Computer Programing/Software: 35 Companies, 2009, and 2007
SIC 7389, Business Services: 16 companies, 2009, and 2007
SIC 8050-8090, Hospitals and Healthcare related services: 16 Companies, 2005, and 2004.

Real Estate Investment Trusts, Healthcare and Investment Services are the three sectors that have on average have had their Chief Executives Officers in their positions the longest, which has been about 10-12 years.The top 6 states accounted for 500 of the 1,078 companies and had the following median CEO appointment year, and average CEO appointment year. (State, The PBR1000 company count, median CEO appointment year, and average CEO appointment year):

California: 115, 2008 and 2006
Texas: 108, 2009 and 2007
New York: 101, 2007 and 2005
Illinois: 66, 2008 and 2007
Ohio: 58, 2008.5 and 2007
Pennsylvania: 52, 2010 and 2008

When taking a look at the 1,078 companies CEOs and evaluating the gender breakdown, the numbers show that male CEO’s comprise 95.6% or 1,031 out of all 1,078. The median year that male CEOs were appointed was 2008 and the average year of appointment was about 2006. In 2013 there were 105 male CEO’s appointed and so far in 2014 there have been 56 appointed.The median year that female CEO’s were appointed was 2011 with an average year of appointment of about 2010. In 2013 there were only 6 female CEO’s appointed and so far in 2014 there have only been 3 appointed. This means that the majority of female CEOs are much newer to their positions as Chief Executive Officer than their male counterparts.

More and more companies are changing this key management position in hopes that this strategic decision will help their businesses maintain a competitive advantage in today’s marketplace. Many conclusions can be drawn from the CEO data but you may interpret the data as you see fit. The next report we will provide is an analysis about CEO compensation packages.

More details are available in The PBR1000 Monthly Snapshots which are a series of Microsoft EXCEL worksheets that includes each company’s CEO name, other titles they hold in the company, year and month they became CEO, and a hotlink to a brief biography about them.

(The PBR1000 is the premiere comparative data and reporting service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate over $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to The PBR1000 subscribers. Users include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Order page.

The author of this post, Greyson Gardlik, is an intern at PBRMarketTools. He is majoring in business economics and entrepreneurship with a minor in environmental science at the highly acclaimed University of Arizona Eller College of Management.)

Filed Under: Leadership Tagged With: Business, Investing, Leadership, Marketing, The PBR1000

The PBR1000 November Breaking News Recap!

December 3, 2013 by admin

By Larry C. Paxton

For November a major breaking news stream was AMR Corporation emerging from taxiing down the long runway of bankruptcy, getting the go ahead from the tower(aka the US government) to complete the merger with US Airways, and now we are all waiting for the December 9th takeoff of the new entity known as the American Airlines Group. Controversies remain. It will be interesting to see how the C-level pilots handle some of the inevitable rough weather ahead, the effect on other carriers and supporting industries, and the impact on travelers. As for me, I hope they decrease prices but also increase the amount of legroom and seat width in the economy cabins. Maybe I should be happy if either one happens.

The many news items with links to the articles and press releases on this and the other The PBR1000 members are below.

But first here’s a recap of some stock indices and commodity prices at the month end closing on Friday, November 29:

– The Dow Jones Industrial Average: 16,086.41, up 3.5% from 10/31/13, and up 22.8% from 12/31/12.

– NASDAQ: 4,059.89, up 4.1% from 10/31/13, and up 34.5% from 12/31/12.

– S&P 500: 1,805.81, up 2.8% from 10/31/13, and up 26.6% from 12/31/12.

– Gold: 1,250.40, down 5.6% from 10/31/13, and down 25.7% from 12/31/12.

– Silver: 20.03, down 8.6% from 10/31/13, and down 34.0% from 12/31/12.

– Oil: 92.72, down 4.1% from 10/31/13, and down 1.0% from 12/31/12.

Here are the news items PBRMarketTools tracked during November:

Thursday, November 28, 2013:
Archer Daniels Midland’s(PBR27) $3.4 billion bid for GrainCorp is prohibited by Australia’s Treasurer. Click here for ADM’s comment.

Wednesday, November 27, 2013:
AMR Corp(PBR109) settles bankruptcy suit, reorganization plan & merger with US Airways(PBR189) as American Airlines Group to be completed on 12/09/13. Click here for the AMR press release.

Wednesday, November 27, 2013:
CVS Caremark(PBR13) is buying Apria Healthcare Group’s specialty infusion services & enteral nutrition business unit Coram LLC for $2.1 billion. Click here for the CVS press release.

Tuesday, November 26, 2013:
NASDAQ breaks through the 4,000 mark, closes at 4,017.75, up 2.5% month-to-date(3,919.71 on 10/31/13), and up 33.1% year-to-date(3,019.51 on 12/31/12).

Tuesday, November 26, 2013:
Aeropostale(PBR781) adopts a limited term stockholder rights plan to avoid a potential coercive or abusive takeover attempt. Click here for the Aeropostale press release.

Tuesday, November 26, 2013:
The Carlyle Group(PBR663) is acquiring Toronto, Canada, based global hedge fund manager Diversified Global Asset Management Corporation, which has $6.7 billion in managed & advised assets. Click here for the Carlyle press release.

Monday, November 25, 2013:
Aetna Inc(PBR80) to acquire 65,000 worldwide medical members UK based InterGlobal Group. Click here for the Aetna press release.

Monday, November 25, 2013:
The Carlyle Group(PBR663) closed its Carlyle Partners VI fund with $13 billion for US corporate buyouts & strategic minority investments in 6 industries. Click here for the Carlyle press release.

Monday, November 25, 2013:
Walmart Stores(PBR2) elects Doug McMillon to become CEO on 02/01/14. Click here for the Walmart announcement.

Friday, November 22, 2013:
The S&P500 closes at a record high of $1,804.76, up 26.54% year-to-date(from 1,426.19 on 12/31/12).

Friday, November 22, 2013:
J.C. Penney Co(PBR152) is moving from the S&P500 to the S&P MidCap 400 on 11/29/13. Click here for the S&P Dow Jones Indices article.

Friday, November 22, 2013:
Bloomberg News reports that Charter Communications(PBR323) & Comcast(PBR44) are considering a joint bid for Time Warner Cable(PBR124). Click here for the Bloomberg article.

Thursday, November 21, 2013:
The Dow Jones Industrial Average closes at a record $16,009.99, up 22.18% year-to-date(from 13,104.14 on 12/31/13).

Thursday, November 21, 2013:
Reuters reports US jury awards Apple, Inc(PBR6) $290 million in retrial against Samsung. Click here for the Reuters article.

Thursday, November 21, 2013:
KKR’s(PBR259) Asset Management unit is acquiring LBO France’s Winoa Group, a worldwide provider of abrasion & cutting technologies for the metal & stone industries. Click here for the KKR press release.

Thursday, November 21, 2013:
Reuters reports US Treasury to sell stock in General Motors(PBR7) by year end. Click here for the Reuters article.

Thursday, November 21, 2013:
Hologic, Inc(PBR871) adopts 1 year stockholder rights plan upon hearing that a Carl Icahn unit is acquiring a stake in the company. Click here for the Hologic press release.

Wednesday, November 20, 2013:
Today PBRMarketTools released The PBR1000 4th Quarter Rankings Report to the general public. Click here for the PBRMarketTools blog post summarizing some observations as we near the end of the year.

Wednesday, November 20, 2013:
The Carlyle Group(PBR663) announced the selling of its German based software developer P&I Personal & Informatik AG to HgCapital by year end. Click here for Carlyle’s press release.

Wednesday, November 20, 2013:
Boeing Co(PBR31) announces $101.5 billion in commitments from Dubai Airshow. Click here for Boeing’s press release.

Wednesday, November 20, 2013:
Devon Energy Corp(PBR269) is acquiring the Eagle Ford assets of GeoSouthern Energy for $6 billion. Click here for the Devon Energy press release.

Tuesday, November 19, 2013:
Johnson & Johnson’s(PBR40) DePuy unit agrees to $2.5 billion settlement for ASR hip systems issues. Click here for Johnson & Johnson’s press release.

Tuesday, November 19, 2013:
US Dept of Justice reports that Sysco(PBR64) unit FreshPoint Inc to pay $4.2 million for overbilling the Dept of Defense for produce. Click here for the USDOJ announcement.

Tuesday, November 19, 2013:
JPMorgan Chase & Co(PBR18) agrees to $13 billion settlement on bad residential mortgage backed securities. Click here for the JPMorgan press release.

Monday, November 18, 2013:
The Washington Post Co(PBR545) changing name to Graham Holdings Company effective 11/29/13, stock symbol GHC. Click here for The Washington Post press release.

Friday, November 15, 2013:
Forbes reports on BerkshireHathaway’s(PBR5) end of 3rd quarter holdings. Click here for the Forbes article.

Friday, November 15, 2013:
JPMorgan Chase & Co(PBR18) agrees to $4.5 billion settlement with 21 institutional investors. Click here for the JPMorgan announcement.

Friday, November 15, 2013:
Pershing Square acquires 10% share in Freddie Mac(PBR32) & Fannie Mae(PBR11) stocks. Click here for the Reuter’s article.

Friday, November 15, 2013:
AMR Corp(PBR109) to be renamed American Airlines Group Inc, trade on NASDAQ, symbol AAL. Click here for the AMR press release.

Thursday, November 14, 2013:
The US International trade deficit was $41.8 billion in September. Click here for the press release from The Bureau of Economic Affairs.

Thursday, November 14, 2013:
Lockheed Martin Corp(PBR59) to close some US facilities, reduce workforce by 4,000. Click here for Lockheed’s press release.

Thursday, November 14, 2013:
ABM Industries(PBR510) launching a Healthcare Support Business unit. Click here for ABM’s press release.

Wednesday, November 13, 2013:
Juniper Networks(PBR503) announces that Shaygan Kheradpir will become CEO effective 01/01/14, current CEO Kevin Johnson will remain on board. Click here for Juniper’s press release.

Wednesday, November 13, 2013:
Procter & Gamble(PBR29) announce reorganization, some long time key management retiring. Click here for P&G’s press release.

Wednesday, November 13, 2013:
The Goldman Sachs Group(PBR67) names its Managing Directors for 2014. Click here for the Goldman Sachs press release.

Tuesday, November 12, 2013:
Omnicom Group’s(PBR183) Ketchum unit is acquiring Singapore based ICON International Communications. Click here for Omnicom’s press release.

Tuesday, November 12, 2013:
Starbucks Corp(PBR195) agrees to arbitration suit, to pay Kraft, now Mondelez International(PBR84), $2.76 billion. Click here for the Starbucks press release.

Tuesday, November 12, 2013:
Patriot Coal Corp(PBR890) secures $200 million letter of credit, also preparing for $250 million term loan & a $125 million asset-backed revolving loan. Click here for the Patriot Coal press release.

Tuesday, November 12, 2013:
Roland C. Smith is appointed Chairman/CEO of the new Office Depot(PBR235). Click here for the Office Depot press release.

Tuesday, November 12, 2013:
Advanced Micro Devices, Inc(PBR434) acquires $500 million secured line of credit. Click here for AMD’s press release.

Tuesday, November 12, 2013:
The US Department of Justice agrees that the AMR Corp(PBR109) & US Airways(PBR189) can merge based on meeting certain conditions. Click here for the transcript of the DOJ press conference announcing the agreement & details of the conditions.

Monday, November 11, 2013:
Amazon.com(PBR47) & the USPS to work together to deliver packages in select cities on Sundays. Click here for Amazon’s press release.

Monday, November 11, 2013:
KKR & Co(PBR259) is acquiring landscaper & snow removal company the Brickman Group for $1.6 billion. Click here for KKR’s announcement.

Monday, November 11, 2013:
T-Mobile US(PBR449) to sell 66+ million shares to buy additional wireless airwaves. Click here for the T-Mobile US press release.

Monday, November 11, 2013:
PepsiCo(PBR43) announced that they and their partners plan to invest $5.5 billion in India through 2020. Click here for PepsiCo’s press release.

Friday, November 8, 2013:
IntercontinentalExchange Inc(PBR1013) to complete its acquisition of NYSE Euronext(PBR571) on 11/13/13. Click here for the IntercontinentalExchange press release.

Thursday, November 7, 2013:
AES Corp(PBR144) provides update on 21 international asset sales totaling $1.4 billion, including Cameroon operations. Click here for the AES press release.

Thursday, November 7, 2013:
The Carlyle Group(PBR663) completes it acquisition of its 11th power generating facility, 823 megawatt Red Oak Power in Sayreville, NJ. Click here for the Carlyle press release.

Thursday, November 7, 2013:
Priceline.com(PBR441) announced that Darren Huston, CEO of wholly owned subsidiary Booking.com, will become President/CEO effective 01/01/14. Jeffrey Boyd currently holds those positions, will remain as Chairman. Click here for Priceline’s press release.

Thursday, November 7, 2013:
Toll Brothers, Inc(PBR903) is acquiring California private land developer & homebuilder Shapell Industries, Inc. for $1.60 billion cash. Click here for Toll Brothers’ press release.

Wednesday, November 6, 2013:
DISH Network Corp(PBR181) announces that it is closing down its 300 US owned BlockBuster video rental stores & DVD by mail services by January, 2014. US & foreign franchised & licensed locations to remain open. Click here for DISH’s press release.

Wednesday, November 6, 2013:
General Motors Co(PBR7) opens its online car buying service to its dealers. Click here for GM’s press release.

Wednesday, November 6, 2013:
Court authorizes Patriot Coal(PBR890) to solicit creditor approval for its reorganization plan. Click here for Patriot Coal’s announcement.

Tuesday, November 5, 2013:
Ford Motor Co(PBR10) announces several senior management changes. Click here for Ford’s announcement, includes hotlinks to bios..

Tuesday, November 5, 2013:
The LoyaltyOne unit of Alliance Data Systems Corp(PBR584) is acquiring a 60% stake in Netherland’s based BrandLoyalty($400 million/2012). Click here for Alliance Data’s announcement.

Tuesday, November 5, 2013:
OfficeMax(PBR349) & Office Depot(PBR235) complete merger, new company is Office Depot, Inc.(NYSE: ODP). Click here for the press release.

Tuesday, November 5, 2013:
Endo Health Solutions(PBR650) to acquire Canadian based specialty pharmaceutical company Paladin Labs Inc(TSX: PLB) for $1.6 billion, both to be then acquired by Irish based holding company New Endo. Click here for Endo’s press release.

Monday, November 4, 2013:
Weyerhaeuser Company(PBR344) is transferring its homebuilding & real estate development business to Tri Pointe Homes(NYSE: TPH) in a transaction valued at $2.7 billion. Expected to close during 2nd quarter, 2014. Click here for Weyerhaeuser’s press release.

Monday, November 4, 2013:
Johnson & Johnson(PBR40) agrees to pay $2.2 billion in fines for FDA violations. Click here for the US Dept of Justice announcement.

Monday, November 4, 2013:
Alliant Techsystems Inc(PBR484) completes acquisition of sporting goods company Bushnell Group Holdings for $985 million. Click here for the Alliant Techsystems press release.

Monday, November 4, 2013:
The Carlyle Group(PBR663) completed its acquisition of $2.6 billion in capital commitments Metropolitan Real Estate Equity Management. Click here for the Carlyle press release.

Monday, November 4, 2013:
Allegheny Technologies Inc(PBR460) completes the sale of its tungsten unit to Kennametal Inc(PBR706) for $605 million. Click here for Allegheny’s press release.

Friday, November 1, 2013:
The Omnicom Group Inc(PBR183) & Publicis Groupe SA(Paris, France) merger waiting period in the US has passed with no objections, only a few global regulatory approvals remain. Click here for Omnicom’s press release.

Friday, November 1, 2013:
The US FTC has cleared the merger of equals of OfficeMax, Inc(PBR349) & Office Depot, Inc(PBR235), expected to close on 11/05/13. Click here for the OfficeMax press release.

Friday, November 1, 2013:
Today Hess Corporation(PBR72) completed the sale of its Energy Marketing business to North America subsidiary Direct Energy of Centrica plc for $1.2 billion. Click here for the Hess press release.

Friday, November 1, 2013:
Airgas, Inc(PBR478) completes its acquisition of privately held Encompass Gas Group & its 11 locations. Click here for the Airgas press release.

Let’s see what kinds of surprises business Santa has for us in December.

Have a Happy and Blessed Holiday Season!

(The purpose of The PBR1000 is to provide a wide range of interested people with key demographic, industry, financial, personnel, and comments/news briefs on over 1,000 publicly traded companies with principal offices in the US. This information is updated quarterly and published in Excel format as The PBR1000 Quarterly Rankings Report. During a quarter several supplementary reports are published as well.

Larry C. Paxton is the President/CEO of Pax Business Resources, LLC. PBRMarketTools is the marketing research unit. For several years Larry has worked for and provided products and services to The PBR1000 companies.)

Filed Under: Recaps Tagged With: acquisitions, Investing, Leadership, mergers, Rankings, The PBR1000

The PBR1000: October News Review

November 5, 2013 by admin

By Larry C. Paxton

All types of investment strategies were utilized by The PBR1000 in October. Companies acquired, merged, split to form new companies, were bought by foreign companies, went private, restructured their financing, or made key management changes. Here are the major October stories from The PBR1000, starting with the most current items. Clicking on the associated link for each item will open a new Window. The PBR1000 rankings are from the just released The PBR1000 4th Quarter Progress Report.

October 31, 2013:

A wholly owned subsidiary of Spirit Aerosystems Holdings, Inc(PBR435) announces that it is concluding its joint venture with Moscow, Russia, based Progresstech Group. Click here for Aerosystems’ press release.

October 31, 2013:

Revlon, Inc(PBR1002) announced that Lorenzo Delpani has been elected President/CEO, to be effective 11/01/13. Click here for Revlon’s press release.

October 29, 2013:

The acquisition of Dell Inc(PBR45) by Michael Dell and investment partners has been completed, the company is now private, stock trading terminated and stock to be delisted. Click here for Dell’s press release.

October 29, 2013:

Sears Holdings Corp(PBR68) announced today some re-organizations, including moving its Land’s End and Sears Auto Centers into separate business entities. Click here for the Sears press release.

October 29, 2013:

Allergan, Inc(PBR411) to sell its lap-band business to Apollo Endosurgery Inc for up to $110 million. Click here for the NASDAQ/WSJ article.

October 28, 2013:

The Mosaic Co(PBR227) is acquiring the Florida Phospate Business of CF Industries(PBR391) for total consideration of $1.4 billion. Expected to close in 1st half of 2014. Click here for Mosaic’s press release.

October 28, 2013:

Liberty Global, Inc(PBR241) announced it is selling its international content division Chellomedia to AMC Networks, Inc.(NASDAQ: AMCX) for $1.04 billion. Click here for Liberty Global’s announcement.

October 25, 2013:

McDonald’s Corporation(PBR100) to end 40 year relationship with Berkshire Hathaway’s(PBR5) recently purchased HJ Heinz unit. Click here for the Reuter’s article.

October 24, 2013:

E I duPont de Nemours(PBR83) announces that over the next 18 months it will move its Performance Chemicals division into a separate publicly held entity. Click here for duPont’s press release.

October 24, 2013:

Reuter’s reports that The Dow Chemical Co(PBR51) has said that it will be selling $3-4 billion in assets over the next 18-24 months. Click here for the Reuter’s article.

October 23, 2013:

The international unit of The Goldman Sachs Group(PBR67) has said that it will immediately start selling to institutional investors its 16 million shares investment in Sports Direct International. Click here for the Reuter’s article.

October 23, 2013:

Bank of America Corp(PBR21) has been found liable for fraud over defective mortgages sold under its Countrywide unit. US Dept of Justice expected to ask for up to $848 million in fines, adds to $40 billion already paid by BofA to date since financial crisis of 2008. Click here for the Reuter’s article.

October 23, 2013:

Omnicare, Inc(PBR384) agrees to pay US government $120 million for alleged steep discounting of prescription drugs at nursing homes in exchange for patient referrals. Click here for the Reuter’s article.

October 22, 2013:

Goldman Sachs Group(PBR67) announced the sale of its majority stake in UK based pension insurance company Rothesay Life. Goldman Sachs will retain a 36% share after regulatory approval. Click here for the Goldman Sachs press release.

October 21, 2013:

Devon Energy Corp(PBR268), Crosstex Energy, Inc(PBR942) and Crosstex Energy, LP, agree to combine Devon’s midstream assets with Crosstex’s to form a new midstream publicly held company to be named later. Click here for Devon’s press release.

October 21, 2013:

After 20 years at The Goldman Sachs Group(PBR67), Michael Evans to retire as Vice Chairman at the end of 2013, will become a senior director. Click here for Goldman Sachs’ press release.

October 21, 2013:

The asset management unit of The Goldman Sachs Group(PBR67) is to acquire the Global Treasury Funds managed by Royal Bank of Scotland’s RBS Asset Management group. The transaction is expected to close in the 1st quarter of 2014. Click here for Goldman Sachs’ press release.

October 21, 2013:

WSJ & Reuters report that GE Capital has extended $835 million in new financing to RadioShack Corp(PBR510). Click here for Reuter’s press release.

October 20, 2013:

Crown Castle International Corp(PBR758) is acquiring the rights to 9,700 AT&T(PBR12) communications towers for $4.85 billion. Click here for Crown Castle’s press release.

October 19, 2013:

Reuter’s reports that JPMorgan Chase & Co(PBR18) in its negotiations with the US Justice Department has tentatively agreed to pay $13 billion for bad mortgage loans sold to investors before the 2008 financial crisis. Click here for Reuter’s press release.

October 18, 2013:

NRG Energy, Inc(PBR295) to acquire Edison Mission Energy, with its 40+ electrical energy generating plants, for $2.8+ billion, deal expected to close 1st quarter, 2014. Click here for NRG’s press release.

October 18, 2013:

Occidental Petroleum Co(PBR114) in its initial strategic review is selling off about 1/3 of its holdings in Plains All-American Pipeline(PBR74), $1.3 billion in pre-tax proceeds. Click here for Occidental’s press release.

October 18, 2013:

KKR & Co, LP(PBR258) is acquiring Ireland based Avoca Capital, which manages around $8 billion in European assets as a credit investment manager. Terms not disclosed. Click here for KKR’s press release.

October 16, 2013:

The sale of TMS International Corp(PBR736) to the Pritzker Organization, LLC, for $1 billion, $17.50/share, has been completed. Click here for the TMS press release.

October 16, 2013:

The Marmon Group subsidiary of Berkshire Hathaway(PBR5) is acquiring England based IMI plc’s Beverage Dispense and Merchandising divisions for $1.1 billion. Click here for Marmon’s press release.

October 16, 2013:

Advance Auto Parts, Inc.(PBR380) to acquire General Parts International, Inc. for $2.04 billion cash. Expected to close late 2013/early 2014. Click here for Advance Auto Parts’ press release.

October 15, 2013:

Walmart Stores, Inc(PBR2) announced today that in FY2015 it plans to spend $11.8-12.8 billion globally for 33-37 million square feet, over half in the US. Click here for Walmart’s press release.

October 15, 2013:

KKR & Co, LP(PBR258) has signed an agreement with Mid Europa Partners to acquire its SBB/Telemach Group, the leading Pay-TV and broadband operator in Southeast Europe, serving around 1.7 million customers. Financial terms were not disclosed. Click here for KKR’s press release.

October 9, 2013:

CACI International Inc(PBR570) to acquire security services provider Six3 for $820 million. Click here for the transcript of CACI’s presentation.

October 9, 2013:

Hess Corporation(PBR72) is selling its US East Coast and St. Lucia terminal networks to Buckeye Partners, LP(PBR501) for $850 million. Click here for Hess’ press release.

October 9, 2013:

KKR & Co, LP(PBR258) is to acquire The Crosby Group and Acco Material Handling Solutions from Melrose Industries PLC for around $1 billion. Both units provide products and services to the oil/gas industries. Click here for KKR’s press release.

October 7, 2013:

Fifth & Pacific Cos(PBR964) is selling the intellectual property rights to its Juicy Couture brand to Authentic Brands Group for $195 million. The deal is expected to close in November. Click here for Fifth & Pacific’s press release.

October 7, 2013:

Darling International, Inc.(PBR935) has entered into an agreement to acquire the Netherlands based Vion Food Group’s Vion Ingredients division for $2.17 billion, expecting to close in January, 2014. Click here for Darling’s press release.

October 7, 2013:

Time Warner Cable Inc(PBR124) has entered into an agreement with Duke Energy(PBR134) to acquire its regional fiber optic network company DukeNet Communications, LLC for $600 million, with closing expected in 1st quarter of 2014. Click here for Time Warner Cable’s press release.

October 2, 2013:

Revlon Inc’s CEO Alan Ennis resigns to pursue other interests, board selects David L. Kennedy, Vice Chairman, to be Interim CEO. Click here for Revlon’s press release.

October 2, 2013:

Monsanto Company(PBR192) has signed an agreement to purchase for $930 million cash The Climate Corporation, a software technology services and insurance company specializing in helping farmers be more productive. Click here for the Monsanto press release.

October 1, 2013:

Tenet Healthcare Corporation(PBR254) completes its acquisition of Vanguard Health Systems(PBR366) for $4.30 billion, $21.00/share. Click here for Tenet’s press release.

October 1, 2013:

Brent Saunders, former CEO at Bausch + Lomb, today became the president/CEO of Forest Laboratories, Inc.(PBR483), succeeding Howard Solomon who had held the position for 30 years, and who will continue to be chairman.

October 1, 2013:

Berry Plastics Group, Inc(PBR470) completes its acquisition of Graphic Packaging’s Flexible Plastics and Film business, and the sale of its Kits and Catering businesses to the WNA division of the Waddington Group, Inc. Click
here for Berry’s press release.

October 1, 2013:

Merck & Co, Inc.(PBR58) reported today that it is refocusing its operating model, will be reducing its 81,000 worldwide workforce by 20% by 2015. Click
here for the Merck announcement.

Larry C. Paxton is the President/CEO of Pax Business Resources, LLC. He spent several years working for and consulting to many of the largest corporations in the US. www.PBRMarketTools.com is the marketing research division. The PBR1000 is a compilation of key demographic, industry, financial, personnel data, and news summaries on over 1,000 of the largest US publicly traded companies. This list is updated four times a year and published in Microsoft Excel format as The PBR1000 Quarterly Progress Reports.

Filed Under: Recaps Tagged With: acquisitions, Investing, Leadership, mergers, Rankings, The PBR1000

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