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The PBR1000 June 2019 Stocks & Commodities Snapshots

July 5, 2019 by admin

June 2019 The PBR1000: The Stock Market Bull Takes the First Half of 2019

The Stock Market Bull took a vacation in May but came back strong in June to convincingly win the 1st half of 2019. How will he do in the 2nd half?

By Larry C. Paxton

The June 2019 and Week 26 News Summary:The first half of 2019 ends with the primary news focused around international trade, including the ongoing US/China negotiations, issues with the USMCA to replace NAFTA, which the Mexican government approved and the Canadians are expected to approve, the UK Brexit concerns which is resulting in a new prime minister to be elected, and new Iran sanctions as the result of its shooting down a US drone. The US economy continues to grow at a moderate pace with some signs of more slowing because of the threat of tariffs on China and possibly other countries. The FOMC kept short term federal interest rates at 2.25-2.50% and seems leaning towards a possible cut at the next meeting to boost the economy. For Week 26 the drama has been the anticipation of President Trump’s participation at the G-20 summit in Japan, especially his planned meeting with China’s Chairman Xi, more sanctions on Iran and sword rattling on both sides, Federal Reserve Chairman Powell’s comments on the US economy and possible direction of Fed policy, and the start of the 2020 presidential election with the 2 nights of debates of the 20 Democrat candidates that qualified. For Week 26 The Stock Market Bear enjoyed the turmoil and just nicked a full 3-0 victory. However, June 2019 was the best stock market result in June over the past 80 years, with ending levels at about the same as for the end of April 2019, before the May 2019 meltdown, so The Stock Market Bullwins the month with a convincing 3-0 result.

The Week 26 YTD tally is:
The Stock Market Bull: 13 weeks
The Stock Market Bear: 7 weeks
Mixed Results: 6 weeks

The Month 6 YTD tally is:
The Stock Market Bull: 5 months
The Stock Market Bear: 1 month
Mixed Results: 0 months

The June 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 20

Number of Gain(+)/Loss(-) Days: DJIA 13+/7-; NASDAQ 13+/7-; SPX 12+/8-.

Record Days: DJIA 0, NASDAQ 0, SPX 1(06/20/19)

Longest Gain Streak(Consecutive Days): DJIA 6 days(06/03-10/19), NASDAQ and SPX 5 days(06/04-10/19)

Longest Loss Streak(Consecutive Days): DJIA 3 days(06/18-20/19), NASDAQ and SPX 3 days(06/21-25/19)

Big Swing Up Days(>1.00%): 4 days (06/04/19(D +2.06%, N +2.65%, S +2.14%), 06/07/19(D +1.02%, N +1.66%, S +1.05%), 06/10/19(N +1.05%), 06/18/19(D +1.35%, N +1.39%))

Big Swing Down Days(<-1.00%): 2 days (06/03/19(N -1.61%), 06/25/19(N -1.51%))

The PBR1000 June 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 June 2019 Snapshots. The price for stocks is for the close of trading on June 28, 2019, Month % Chg is compared to May 31, 2019, YTD % Chg is compared to December 31, 2018, and the 18 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the June 2019 edition with the complete 15 Snapshots and 28 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

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

Table 1 Summary: The range was +60% to -52%. 869 out of 999 stocks were up 0% or more. The average was a gain of 7.03%(PBR493), the median was a gain of 6.87%(PBR500). The DJIA was +7.19%, NASDAQ +7.42%, SPX +6.89%.

Company	PBR Rank	Symbol	Price 06/28/19	Mo % Chg	YTD % Chg	18 Mos % Chg
McDermott Intl	433	MDR	$ 9.66	+60	+48	-51
Barnes & Noble	659	BKS	$ 6.69	+52	-6	-0
SunPower	937	SPWR	$ 10.69	+43	+115	+27
Tronox	921	TROX	$ 12.78	+38	+64	-38
AK Steel	425	AKS	$ 2.37	+38	+5	-58

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +268% to -96%. 792 out of 996 stocks were up 0% or more. The average was a gain of 18.85%, the median was a gain of 16.48%. The DJIA was +14.03%, NASDAQ +20.66%, SPX +17.35%.

Company	PBR Rank	Symbol	Price 06/28/19	Mo % Chg	YTD % Chg	18 Mos % Chg
Diebold Nixdorf	554	DBD	$ 9.16	+8	+268	-44
Avon Products	492	AVP	$ 3.88	+3	+155	+80
FannieMae	21	FNMA	$ 2.70	-11	+155	+2
FreddieMac	39	FMCC	$ 2.60	-11	+148	+3
SunPower	937	SPWR	$ 10.69	+43	+115	+27

Table 3(S13): The PBR1000 Top 5 18 Months Stock Price % Gainers

Table 3 Summary: The range was +195% to -99%. 484 out of 995 stocks were up 0% or more. The average was a gain of 6.18%(PBR394). The median was a loss of 1.15%(PBR497). The DJIA was +7.61%, NASDAQ +15.98%, SPX +10.03%.

Company	PBR Rank	Symbol	Price 06/28/19	Mo % Chg	YTD % Chg	18 Mos % Chg
AMD	444	AMD	$ 30.37	+11	+65	+195
Chipotle	536	CMG	$ 732.88	+11	+70	+154
Rent-A-Center	796	RCII	$ 26.63	+12	+64	+140
SeaWorld	973	SEAS	$ 31.00	-3	+40	+128
Deckers Outdoor	886	DECK	$ 175.97	+16	+38	+119

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

Table 4 Summary: The range was $1,028 billion to $0.00 billion. The average is $27.619 billion(PBR216), median is $7.84 billion(PBR500), out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 06/28/19	Mo % Chg	YTD % Chg	18 Mos % Chg
Microsoft	25	MSFT	$ 1,028 B	+7	+33	+56
Amazon	5	AMZN	$ 938 B	+5	+30	+69
Apple	3	AAPL	$ 919 B	+12	+24	+5
Alphabet	15	GOOG	$ 747 B	-4	+4	+2
Facebook	55	FB	$ 541 B	+4	+41	+6
The PBR1000			$ 27,619 B	+5	+17	+7

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

Company	Price 06/28/19	Mo % Chg	YTD % Chg	18 Mos % Chg
The PBR1000	91,891.87	+7.0	+18.9	+6.2
DJIA	26,599.96	+7.2	+14.0	+7.6
NASDAQ	8,006.24	+7.4	+20.7	+16.0
S&P500	2,941.76	+6.9	+17.4	+10.0
GOLD	1,412.50	+7.7	+10.0	+8.2
SILVER	15.36	+5.4	-1.3	-9.6
OIL	58.20	+8.8	+27.1	-3.2

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

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

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Filed Under: Snapshots Tagged With: Business Intelligence, Commodities, DJIA, Economy, Investing, Market Research, Money, NASDAQ, Personal Finance, Rankings, S&P 500, Snapshots, Spotlight, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 June 2019 Breaking News Recap

July 2, 2019 by admin

International Trade Issues Continue To Dominate The PBR1000 News

There are a lot of puzzle pieces to put together for a good strategy in today’s business environment. Don’t lose any of the pieces!

By Larry C. Paxton

The June 2019 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, June 28:

The PBRMarketTools US Stock Exchanges Recap for the End of June and Week 26 of 2019 ending 06/28/19:

DJIA ends June 2019 and Week 26 at 26,599.96, -0.45% from last Friday, +7.19% MTD, +2.59% QTD, +14.03% YTD, -0.85% from record 26,828.39 set 10/03/18.

NASDAQ ends June 2019 and Week 26 at 8,006.24, -0.32% from last Friday, +7.42% MTD, +3.58% QTD, +20.66% YTD, -1.93% from record 8,164.00 set 05/03/19.

SPX ends June 2019 and Week 26 at 2,941.76, -0.29% from last Friday, +6.89% MTD, +3.79% QTD, +17.35% YTD, -0.42% from record 2,954.18 set 06/20/19.

The June 2019 and Week 26 News Summary:The first half of 2019 ends with the primary news focused around international trade, including the ongoing US/China negotiations, issues with the USMCA to replace NAFTA, which the Mexican government approved and the Canadians are expected to approve, the UK Brexit concerns which is resulting in a new prime minister to be elected, and new Iran sanctions as the result of its shooting down a US drone. The US economy continues to grow at a moderate pace with some signs of more slowing because of the threat of tariffs on China and possibly other countries. The FOMC kept short term federal interest rates at 2.25-2.50% and seems leaning towards a possible cut at the next meeting to boost the economy. For Week 26 the drama has been the anticipation of President Trump’s participation at the G-20 summit in Japan, especially his planned meeting with China’s Premier Xi, more sanctions on Iran and sword rattling on both sides, Federal Reserve Chairman Powell’s comments on the US economy and possible direction of Fed policy, and the start of the 2020 presidential election with the 2 nights of debates of the 20 Democrat candidates that qualified. For Week 26 The Stock Market Bear enjoyed the turmoil and just nicked a full 3-0 victory. However, June 2019 was the best stock market result in June over the past 80 years, with ending levels at about the same as for the end of April 2019, before the May 2019 meltdown, so The Stock Market Bullwins the month with a convincing 3-0 result.

The Week 26 YTD tally is:
The Stock Market Bull: 13 weeks
The Stock Market Bear: 7 weeks
Mixed Results: 6 weeks

The Month 6 YTD tally is:
The Stock Market Bull: 5 months
The Stock Market Bear: 1 month
Mixed Results: 0 months

Thermo-Fisher Scientific(PBR117) completes its around $1.14 billion cash sale of its 1,200 employees $350 million in annual revenues microscope slides, instruments and consumables provider Anatomical Pathology to PHC Holdings Corporation. $TMO PR link.

Cummins(PBR121) to acquire fuel cell systems provider Hydrogenics Corporation (NASDAQ: HYGS: TSX: HYG) for $15.00/share in cash, other than shares already owned by The Hydrogen Company, representing an enterprise value of approximately $290 million, to close in 3Q19. $CMI PR link.

Cabot Corp(PBR675) completes the $135 million sale of its Specialty Fluids business to a wholly owned Hong Kong subsidiary of Sinomine Resource Group Co. $CBT PR link.

SunCoke Energy(PBR964) completes all stock acquisition of SunCoke Energy Partners(NYSE: SXCP). $SXC PR link.

Bristow Group(PBR966) has entered into an amended and restated restructuring support agreement with certain of the Company’s secured and unsecured noteholders, who have committed, as part of the transaction, to fund a new debtor-in-possession facility. $BRSWQ PR link.

Cedar Fair(PBR977) completes $150 million acquisition from the City of Santa Clara, CA, of 112 acres upon which its California’s Great America amusement park, acquired in 2006, is located. $FUN PR link.

The US Dept of the Treasury says the US 06/26/19 National Debt-Public is at $16.162 trillion, Intragovernmental Holdings $5.864, Total National Debt $22.026 trillion, +0.0% from 05/31/19, +0.2% YTD(6 months), +3.9% since 05/31/18. USTreasury PR link.

The US Dept of Commerce/BEA says the US Preliminary May 2019 Personal Income Annual Rate is at $18.184 trillion, +0.5% from April 2019, +4.1% from May 2018; the May 2019 Effective Tax Rate is 11.85%, April 2019 was 11.82%, May 2018 11.65%. USDOC PR link.

The US Federal Reserve Bank of Chicagosays the US 7th District Preliminary May 2019 Midwest Economy Index is at -0.28, April 2019 was at -0.02, March 2019 +0.21, May 2018 +0.41. ChiFed PR link.

The MNI June 2019 Chicago Business Barometer(<50 = economy declining) is at 49.7, May 2019 was at 54.2, April 2019 52.6, June 2018 64.1. “… the first sub-50 reading since January 2017… In coming months, our survey will provide further evidence as to whether the diminished business confidence is temporary amid tariffs woes or more structural calling for some counter measures…” MNI PR link.

The U of Michigan US Final June 2019 Consumer Sentiment Index is at 98.2, May 2019 was at 100.0, April 2019 97.2, June 2018 98.2. “While more negative trade news will act to decrease consumer spending, the persistent overall strength in consumer confidence is still consistent with growth of real personal consumption expenditures by 2.5% during the next twelve months.” UMich PR link.

The American Automobile Assn says the Average Price for a Gallon of Regular Gas on 06/28/19 is at $2.708, on 05/31/19 it was at $2.825, 04/30/19 $2.882, 06/29/18 $2.853. AAA PR link.

***Thursday, June 27:

Amazon(PBR5) launches its Counter service in the US, a new network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store at a partner location at no extra cost, starting in over 100 Rite Aid(PBR137) stores, to be in 1,500 Rite Aid locations by the end of 2019. $AMZN PR link.

Capital One(PBR92) to purchase up to $2.2 billion of common stock through 2Q20. $COF PR link.

Devon Energy(PBR286) completes its $2.8 billion sale of its Canadian business to Canadian Natural Resources Limited, expects to divest its Barnett Shale gas assets in north Texas by end of 2019. $DVN PR link.

Wayfair(PBR429 $W) gets protest from some employees regarding its decision to sell beds and other items that will furnish detention centers for migrants at the southern border.MarketWatch PR link.

Brunswick(PBR520) completes $490 million cash sale of its Fitness business to private investment firm KPS Capital Partners, will now focus solely on its marine platform. $BC PR link.

WABCO(PBR630) shareholders approve $136.50/share, $7+billion acquisition by privately held global leader in driveline and chassis technologies ZF Friedrichshafen AG, to close in early 2020. $WBC PR link.

CDK Global(PBR855) plans to divest its Digital Marketing Business, to focus on the building momentum in the core auto software business and to accelerate growth in fiscal 2020. $CDK PR link.

Chico’s FAS(PBR875) Board unanimously rejects revised unsolicited proposal from Sycamore Partners to acquire the Company for $3.00/share in cash, substantially undervalues Chico’s FAS. $CHS PR link.

The US Dept of Commerce/BEA says the US 1Q19 3rd Estimate Gross Domestic Productremains at 3.1%, $21.060 trillion, +0.9% from 4Q18, +5.1% from 1Q18. USDOC PR link.

The US Dept of Labor says the US Initial Unemployment Claims 4 Week Moving Average for Week Ending 06/22/19 was at 221,250, +2.1% from 05/25/19, -0.3% from 06/23/19; Total Insured Unemployment 4 Week Moving Average for Week Ending 06/15/19 was at 1,686,750, +0.9% from 05/18/19, -1.9% from 06/16/19; Insured Unemployment Rate remains at 1.2%. USDOL PR link.

FreddieMac(PBR39) says the US Average 30 Year Fixed Mortgage Rate on 06/27/19 was at 3.73% with 0.5 points/fees, 05/30/19 was at 3.99%, 04/25/19 4.20%, 06/28/18 4.55%. $FMCC PR link.

***Wednesday, June 26:

Danaher(PBR155) to spinoff 3 Dental segment business units to form separate 12,000 employees independent public company Envista, to be completed in 2H19. $DHR PR link.

Occidental(PBR159) gets SEC filing by Icahn Enterprises(PBR288) requesting replacement of 4 Board members, amendment to Charter and Bylaws to give shareholders the right to vote on the $38 billion acquisition of Anadarko(PBR233). $OXY PR link.

Kaman Corp(PBR912) to sell its 2,200 employees $1.1 billion in revenues in 2018 Distribution segment to affiliates of Littlejohn & Co for $700 million cash, to close 3Q19. $KAMN PR link.

Newell Brands(PBR343) EVP/CFO Christopher Peterson to also be Interim CEO, effective 06/28/19, to succeed President/CEO Michael Polk who is retiring as planned on 06/30/19, search for external hire as permanent CEO continues. $NWL PR link.

The US Dept of Commerce/BEA says the US Preliminary 1Q19 International Position-Assets is at $27.138 trillion, Liabilities $37.067 trillion, for a Deficit of $9.929 trillion, +3.9% from 4Q18, +26.8% from 1Q18. USDOC PR link.

The US Energy Information Administrationsays that the US Crude Oil Stocks on 06/21/19were at 469.6 Million Barrels of Oil, -1.5% from 05/24/19, +12.7% from 06/22/18. EIA PR link.

***Tuesday, June 25:

Amazon(PBR5) schedules Amazon Prime Day 2019 for July 15 and 16, will feature more than one million deals globally. $AMZN PR link.

GE(PBR19) and the Coordinated Bargaining Committee (CBC) of GE unions, representing 11 unions with around 6,600 members, concluded negotiations with a new proposed four-year collective bargaining agreement by the Company, to be ratified on 07/03/19. $GE PR link.

FedEx(PBR46) files suit in US District Court seeking to enjoin the US Dept of Commerce from enforcing prohibitions contained in the Export Administration Regulations (“EAR”)against FedEx which believes that the EAR violate common carriers’ rights to due process under the Fifth Amendment of the US Constitution as they unreasonably hold common carriers strictly liable for shipments that may violate the EAR without requiring evidence that the carriers had knowledge of any violations. $FDX PR link.

AbbVie(PBR91) to acquire Dublin, Ireland-based developer, manufacturer and commercializer of branded pharmaceutical, device, biologic, surgical and regenerative medicine products Allergan(PBR194) for $188.24/share cash/stock, a 45% premium from the 06/24/19 closing price, equity value of around $63 billion, to close by early 2020. $ABBV PR link.

Chipotle(PBR536) launches new crew bonus program that gives hourly employees the opportunity to earn up to an extra month’s pay each year. $CMG PR link.

Crane(PBR688) says CIRCOR International(NYSE: CIR) revised business plan claims are highly unrealistic and illustrates why Crane’s superior, all-cash offer of $45 per share represents the best option for CIRCOR shareholders. $CR PR link.

The US Dept of Commerce/HUD says the US Preliminary May 2019 New Family Home Sales Annual Rate is at 629,000 units, -7.4% from April 2019, -3.2% from May 2018; May 2019 Median Home Price is at $308,000, -8.1% from April 2019, -2.7% from May 2018; May 2019 New Homes Available is at 333,000, +0.3% from April 2019, +10.3% from May 2018. USDOC PR link.

The US Federal Reserve Bank of Richmond says the US 5th District June 2019 Manufacturing Index is at +3%, May 2019 was at +5%, April 2019 +3%, June 2018 +21%. “Most firms reported some improvement in local business conditions, and they were optimistic that they would see growth in the next six months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmond says the US 5th District June 2019 Service Sector Revenue Index is at +17%, May 2019 was at +1%, April 2019 +26%, June 2018 +19%. “Respondents were optimistic that growth would continue in the coming months.” RichmondFed PR link.

The S&P CoreLogic Case-Shiller Preliminary April 2019 National Home Price Index(01/2000=100) is at 207.97, March 2019 was at 206.06, February 2019 204.75, April 2018 200.85. Case-Shiller PR link.

The Conference Board says the US Preliminary June 2019 Consumer Confidence Index(1985=100) is at 121.5, May 2019 was at 131.3, April 2019 129.2, June 2018 127.1. “The escalation in trade and tariff tensions earlier this month appears to have shaken consumers’ confidence. Although the Index remains at a high level, continued uncertainty could result in further volatility in the Index and, at some point, could even begin to diminish consumers’ confidence in the expansion.” TCB PR link.

***Monday, June 24:

Bristol-Myers Squibb(PBR131) planning the divestiture of OTEZLA® (apremilast) per concerns by the US Federal Trade Commission, to close $74 billion acquisition of global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases Celgene(PBR220) by early 1Q20. $BMY PR link.

Wellcare Health Plans(PBR151) $305.39/share cash & stock, $17.3 billion acquisition by Centene(PBR50) approved by shareholders of both organizations, on track to close 1H20. $WCG PR link.

Allergan(PBR194) gets US FDA clearance for its magnetic muscle stimulation technology CoolTone device for improvement of abdominal tone, strengthening of the abdominal muscles, and development for firmer abdomen, also for strengthening, toning and firming of buttocks and thighs. $AGN PR link.

Reinsurance Group of America(PBR256)completes $2.9 billion annuity reinsurance transaction with Horace Mann Life Insurance Company, a subsidiary of Horace Mann Educators Corporation (NYSE: HMN). $RGA PR link.

Caesars Entertainment(PBR356) to be acquired by Eldorado Resorts(NASDAQ: ERI)for $12.75/share, for $17.3 billion cash/stock, includes assumption of Caesars outstanding net debt, will create the largest US gaming company, will retain the Caesars name, to close in 1H20. $CZR PR link.

Insight(PBR413) to acquire IT products and services ptovider PCM(NASDAQ: PCMI) for $35/share, a 36% premium to its 1-month average as of 06/21/19, enterprise value of $581 million, includes cash and debt. $NSIT PR link.

Crane(PBR688 $CR) cash tender offer to acquire CIRCOR International(NYSE: CIR) for $45/share, a 47% premium over the market close on 05/20/19, is unanimously rejected by CIRCOR Board, says undervalues company and is low-value, highly conditional and opportunistic and not in the best interests of CIRCOR shareholders. Circor PR link.

Axalta(PBR546) Chairman Charlie Shaver resigns after 6 years, effective 06/30/19, current Independent Presiding Director Mark Garrett appointed Chairman. $AXTA PR link.

The US Federal Reserve Bank of Chicagosays the US Preliminary May 2019 National Activity Index is at -0.05, April 2019 was at -0.48, March 2019 +0.02, May 2018 -0.41. ChiFed PR link.

***Friday, June 21:

The PBRMarketTools US Stock Exchanges Recap for Week 25 of 2019 ending 06/21/19:

DJIA ends Week 25 at 26,719.13, +2.41% from last Friday, +7.67% MTD, +3.05% QTD, +14.54% YTD, -0.41% from record 26,828.39 set 10/03/18.

NASDAQ ends Week 25 at 8,031.71, +3.01% from last Friday, +7.76% MTD, +3.91% QTD, +21.05% YTD, -1.62% from record 8,164.00 set 05/03/19.

SPX ends Week 25 at 2,950.46, +2.20% from last Friday, +7.21% MTD, +4.09% QTD, +17.70% YTD, -0.13% from record 2,954.18 set 06/20/19.

The Week 25 News Summary: The biggest economic news of the week was the Federal Open Market Committee keeping short term federal funds interest rates at 2.25-2.50% and signaling possible rate cuts in the near future. Economic indices were mostly mixed and indicating slower growth. Trade issues also dominated the news as it was announced US President Trump and China’s Chairman Xi will be having extended discussions during the upcoming G-20 summit. Also, Mexico became the first country to approve the new USMCA trade agreement that replaces NAFTA. Canada’s Prime Minister Trudeau made a special trip to the US to talk to US lawmakers to encourage them to do the same. Iran shot down a US drone increasing tensions in the Mideast. The US stock exchanges had another big week, the S&P500 broke its closing record and the DJIA is very close. The Stock Market Bull overwhelmed The Stock Market Bear for the week, easily winning 3-0, but took Friday off. The Stock Market Bear responded with a timid appearance.

The Week 25 YTD tally is:
The Stock Market Bull: 13 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 6 weeks

Fred’s(PBR983) to close another 49 stores, following announcements of 263 closures the past 2 months. MarketWatch PR link.

The US Federal Reserve says “the US’s largest and most complex banks have strong capital levels that would allow them to stay well above their minimum requirements after being tested against a severe hypothetical recession… the most severe hypothetical scenario projects $410 billion in total losses for the 18 participating bank holding companies. This scenario featured a global recession with the U.S. unemployment rate rising by more than 6 percentage points to 10 percent, accompanied by a large decline in real estate prices and elevated stress in corporate loan markets.” USFed PR link.

The Natl Assn of Realtors says US Preliminary May 2019 Existing Home Sales Annual Rate is at 5,340,000, +2.5% from April 2019, -1.1% from May 2018; May 2019 Median Home Sale Price is $277,700, +3.9% from April 2019, +4.8% from May 2018; May 2019 Median Days On Market was 26, April 2019 was 24, May 2018 was 26. NAR PR link.

***Thursday, June 20:

Walmart(PBR1 $WMT) agrees to pay more than $144 million to US Security and Exchange Commission and approximately $138 million to the US Dept of Justice for a combined total of more than $282 million for violating the Foreign Corrupt Practices Act (FCPA) by failing to operate a sufficient anti-corruption compliance program for more than a decade. SEC PR link.

Amazon(PBR5) unveils its Off-to-College store, students can browse a wide range of essentials with low prices for their dorm, classes and extracurricular activities in one place. $AMZN PR link.

CVS Health(PBR8 $CVS) files lawsuit against Amazon(PBR5) claiming it is seeking to disrupt the pharmacy industry with its newly acquired subsidiary PillPack. Barron’s PR link.

Alphabet(PBR15)’s Waymo unit enters into an exclusive partnership with Renault and Nissanon behalf of The Alliance to explore driverless mobility services for passengers and deliveries in France and Japan. $GOOG PR link.

AECOM(PBR153 $ACM) 4.0% stakeholder activist investor Starboard Value sends letter saying Management Services spinoff is potentially a positive development, is just one piece of a broader set of opportunities to unlock significant value, believes AECOM is deeply undervalued, provides some ideas. Starboard Value PR link.

Chipotle(PBR536) providing catering, includes three different build you own options. $CMG PR link.

Quad/Graphics(PBR596 $QUAD) $1.4 billion all shares acquisition of print and digital media solutions provider LSC Communications(PBR631) receives lawsuit to block the deal by the US Dept of Justice, says necessary to preserve competition in the markets for magazine, catalog, and book printing services in the US. DOJ PR link.

Quad/Graphics(PBR596) intends to vigorously defend its proposed $1.4 billion all shares acquisition of LSC Communications(PBR631)in response to the US Dept of Justice lawsuit seeking to block the acquisition. $QUAD PR link.

Sprouts(PBR515) hires Jack Sinclair as CEO, effective 06/24/19; Brad Lukow, CFO and interim co-CEO, has resigned to pursue other opportunities. $SFM PR link.

The US Dept of Commerce/BEA says US Preliminary 1Q19 Exports of Goods and Services was at $945.9 billion, Imports were at $1.076 trillion, for a Deficit of $130.4 billion, -9.4% from 4Q18, +14.4 from 1Q18. USDOC PR link.

The US Federal Reserve Bank of Philadelphiasays the 3rd District June 2019 Manufacturing General Activity Indicator is at +0.3, May 2019 was at +16.6, April 2019 +8.5, June 2018 +20.8. “Most of the survey’s future activity indexes improved but continue to reflect muted optimism for the remainder of the year.” PhillyFed PR link.

The Conference Board says the US Preliminary May 2019 Leading Economic Index(2016=100) is at 111.8, April 2019 was at 111.8, March 2019 111.7, May 2018 109.4. “… the LEI clearly points to a moderation in growth towards 2 percent by year end.” TCB PR link.

***Wednesday, June 19:

UnitedHealth(PBR6 $UNH) agrees to US Federal Trade Commission approval for $4.3 billion acquisition of DaVitaHealth(PBR302 $DVA)’s DaVita Medical Group contingent upon divesting DaVita Medical Group’s healthcare provider organization in the Las Vegas Area (known as HealthCare Partners of Nevada) to Utah-based healthcare provider and insurer Intermountain Healthcare. FTC PR link.

Alphabet(PBR15) rejects shareholder plan to break up company and other proposals during annual shareholders meeting. $GOOG PR link.

Mondelez(PBR108) to acquire a majority interest in San Diego, CA-based pioneer in the fast-growing refrigerated nutrition bars segment Perfect Snacks®, had $70 million in revenues in 2018, terms not disclosed. $MDLZ PR link.

Gilead Sciences(PB132) to make upfront payment of $45 million and up to $2.3 billion in total additional payments based milestone achievements to Nurix Therapeutics in strategic partnership to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with cancer and other challenging diseases. $GILD PR link.

PG&E(PBR176) reaches agreements to resolve the wildfire claims held by 18 local public entities (cities, counties, districts and public agencies) impacted by the 2015 Butte Fire, 2017 Northern California wildfires and 2018 Camp Fire, will pay $1 billion as part of a Chapter 11 Plan of Reorganization. $PCG PR link.

ON Semiconductor(PBR476) completes $24.50/share, $1.07 billion all cash acquisition of high performance Wi-Fi solutions developer Quantenna Communications(NASDAQ: QTNA). $ON PR link.

Harley-Davidson(PBR483) to expand access into Asia through a collaboration with Qianjiang Motorcycle Co, to launch a smaller, more accessible Harley-Davidson motorcycle for sale in Harley-Davidson dealerships in China by the end of 2020. $HOG PR link.

Peabody Energy(PBR490) to own 66.5% Arch Coal(PBR826 $ARCH) 33.5% in joint venture to combine the companies’ Powder River Basin and Colorado assets, expected to unlock synergies with a pre-tax net present value of approximately $820 million. $BTU PR link.

Mattel(PBR562 $MAT) ‘…cannot be salvaged’ according to MGA Entertainment CEO, is abandoning pursuit of a merger deal.MarketWatch PR link.

Tempur Sealy(PBR787) to add around 700 US positions to meet growing demand for its Tempur-Pedic, Stearns & Foster and Sealy mattresses and bedding products. $TPX PR link.

Chico’s FAS(PBR875) receives a revised unsolicited proposal from Sycamore Partners to acquire the Company for $3.00/share in cash, will review, rejected previous higher offer of $3.50/share. $CHS PR link.

Pier 1 Imports(PBR954) shareholders approve a 1:20 reverse stock split, to be effective at start of trading 06/20/19. $PIR PR link.

The Federal Open Market Committee releases statement from 06/18-19/19 meeting, says “the labor market remains strong and that economic activity is rising at a moderate rate … decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent… continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective as the most likely outcomes, but uncertainties about this outlook have increased.” FOMC PR link.

***Tuesday, June 18:

Walmart(PBR1) offering online upgrades for Apple and Samsung devices using AT&T wireless services, will be expanding wireless providers, expanding wireless experts in 600 more stores by the holidays, will then be in over 3,000 Walmart stores. $WMT PR link.

Alphabet(PBR15)’s Google unit announces an additional $1 billion investment for 20,000 houses for middle/low income families across the San Francisco Bay Area, includes repurposing Google land and providing incentives for housing developers, 10 year project. $GOOG PR link.

Boeing(PBR28) gets letter of intent at Paris Air Show from International Airlines Group to buy 200 737 MAX aircraft, $24+ billion deal, per list prices. $BA PR link.

Facebook(PBR55) to launch in 2020 its global cryptocurrency, called Libra, through its newly formed Calibra subsidiary, will include a digital wallet and use blockchain technology. $FB PR link.

Cognizant(PBR188) to acquire Cork, Ireland based privately held life sciences manufacturing technology services company with 800+ employees in 16 global locations Zenith Technologies, terms not disclosed. $CTSH PR link.

Kellogg(PBR230) announces reorganization plan which primarily impacts the North America segment in anticipation of the divestiture of selected cookies, fruit and fruit-flavored snacks, pie crusts, and ice cream cones businesses to Ferrero International SA by the end of 07/19, will take a $35 million pre-tax charge. $K PR link.

NVIDIA(PBR257) selected by Sweden based Volvo Group for using the NVIDIA DRIVE end-to-end autonomous driving platform to train, test and deploy self-driving AI vehicles, targeting public transport, freight transport, refuse and recycling collection, construction, mining, forestry and more. $NVDA PR link.

The Mosaic Co(PBR316) to close Plant Cityphosphates manufacturing facility in Hillsborough County, FL, not cost effective, has been idled since late 2017, will recognize a non-cash charge of up to $390 million in 2Q19. $MOS PR link.

News Corp(PBR332) is actively evaluating strategic options for its News America Marketing business, including a possible sale, has comprehensive in store marketing media options in over 60,000 stores in the US and Canada, and reaches households across the country with circulation of more than 60 million through nearly 2,000 publications. $NWS PR link.

Fifth Third Bancorp(PBR374) announces dividend payments, authorizes new up to 100 million shares for repurchase program, had 22 million left from previous authorization. $FITB PR link.

Lamb Weston(PBR675) opens $250 million 300,000 sf frozen french fries manufacturing expansion in Hermiston, OR, adds 150 jobs, will make nearly 750 million pounds of frozen french fries annually. $LW PR link.

Tempur Sealy(PBR787) signs new long-term supply agreements with Mattress Firm and Big Lots in the US and Beter Bed Holding in Europe, anticipates $400 million in additional annual revenues once implemented. $TPX PR link.

GoPro(PBR994) enhances $4.99/mo PLUS subscription service, includes damaged camera replacement, unlimited cloud storage, 50% off mounts and accessories, VIP support. $GPRO PR link.

The US Dept of Labor says the US 1Q19 Average Wages/Salaries Per Hour-All Workers was at $25.22, Benefits Per Hourwere at $11.55, for a Total Average Hourly Compensation of $36.77, +1.2% from 4Q18, +1.2% from 1Q18. USDOL PR link.

The US Dept of Commerce says the US Preliminary May 2019 New Residential Construction Permits Issued Annual Rate is at 1,294,000, +0.3% from April 2019, -0.5% from May 2018. USDOC PR link.

***Monday, June 17:

AT&T(PBR9) is the winning bidder at $980 million for spectrum licenses covering more than 98% of the U.S. population following the close of FCC Auction 102, will bolster its mobile 5G strategy. $T PR link.

Pfizer(PBR59) to acquire commercial stage biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases Array BioPharma(NASDAQ: ARRY) for $48/share in cash, for a total enterprise value of around $11.4 billion, to close 2H19. $PFE PR link.

AECOM(PBR153) to spinoff its 25,000 employees with $3.7 billion in revenues in fiscal year 2018 Management Services segment into a public standalone government services company, to be completed in 2H20 fiscal year. $ACM PR link.

Williams Cos(PBR337) completes formation of $3.8 billion venture partnership with the Canada Pension Plan Investment Board, receives approximately $1.33 billion in exchange for a 35% interest in a combined Utica East Ohio Midstream-Ohio Valley Midstream joint venture. $WMB PR link.

Campbell Soup(PBR338) completes $510 million sale of its producer of organic beverages, dressings and carrots Bolthouse Farms to a Butterfly Equity affiliate, a Los Angeles-based private equity firm specializing in the food sector. $CPB PR link.

Domino’s Pizza(PBR672) and robotics company Nuro are partnering on autonomous pizza delivery using the custom unmanned vehicle known as the R2 later this year for select Houston, TX, Domino’s customers who place orders online. $DPZ PR link.

Crane(PBR687) commences cash tender offer to acquire CIRCOR International(NYSE: CIR)for $45/share, a 47% premium over the market close on 05/20/19, to expire at 5:00PM New York City time, on 07/16/19. $CR PR link.

Varian Medical(PBR747) completes $283 million acquisition of privately held $43.5 million in revenues in FY19 university-level, comprehensive treatment for cancer patients provider Cancer Treatment Services International. $VAR PR link.

Middleby(PBR780) acquires Santa Ana, CA-based Ss Brewtech, a professional craft brewing and beverage equipment provider, founded in 2013, has $20 million in annual revenues, will operate as an autonomous business unit, terms not disclosed. $MIDD PR link.

Meredith Corp(PBR860) facilitates a closed sale of Sports illustrated by agreeing to operate the SI media assets for a transition period for up to two years under a licensing agreement with ABG. $MDP PR link.

The Federal Reserve Bank of New York says the Empire State June 2019 Manufacturing General Business Conditions Index is at -8.6, May 2019 was at +17.8, April +10.2, June 2018 +24.4. “Indexes assessing the six-month outlook indicated that firms were less optimistic about future conditions than they were last month.” NYFed PR link.

The Natl Assn of Home Builders Preliminary June 2019 Housing Market Composite Indexis at 64, May 2019 was at 66, April 2019 63, June 2018 68. Headline: “Builder Confidence Solid in June Amidst Growing Economic Uncertainty” NAHB PR link.

Boeing(PBR28) outlook values the aerospace and defense market at $8.7 trillion over the next decade, up from $8.1 trillion a year ago. $BA PR link.

***Friday, June 14:

The PBRMarketTools US Stock Exchanges Recap for Week 24 of 2019 ending 06/14/19:

DJIA ends Week 24 at 26,089.61, +0.41% from last Friday, +5.14% MTD, +0.62% QTD, +11.84% YTD, -2.75% from record 26,828.39 set 10/03/18.

NASDAQ ends Week 24 at 7,796.66, +0.70% from last Friday, +4.61% MTD, +0.87% QTD, +17.50% YTD, -4.50% from record 8,164.00 set 05/03/19.

SPX ends Week 24 at 2,886.98, +0.47% from last Friday, +4.90% MTD, +1.86% QTD, +15.16% YTD, -2.00% from record 2,945.83 set 04/30/19.

The Week 24 News Summary: With the Mexican government taking on more responsibilities for Central America immigrants the threatened US tariffs on Mexican goodsdid not materialize, but there continues to be tension between the US and China as trade talks seemed to have stalled. Oil pricesfluctuated after attacks on 2 oil tankers, allegedly by Iran. The US economy continues to show strength from the latest jobs, producer price index, wages, consumer price index, import/export prices, industrial production, and manufacturers sales & inventories reports, but there was a wider gap than usual between federal government receipts and outlays. The technology sector had a good week. The Stock Market Bull continues to recover from the significant May losses with his 2nd week in a row 3-0 victory over The Stock Market Bear, who was also very active and actually took 3 of the 5 trading days.

The Week 24 YTD tally is:
The Stock Market Bull: 12 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 6 weeks

Abercrombie & Fitch(PBR656) authorizes new share repurchase program of up to 5 million Class A Common shares, now has about 7.6 million shares available, or over 10% of its total shares outstanding. $ANF PR link.

Synopsys(PBR715) replenishes its existing stock repurchase authorization to $500 million. $SNPS PR link.

The US Dept of Commerce/Census says the US Preliminary April 2019 Manufacturers Sales were at $504.1 billion, Retail Sales$454.8 billion, Wholesalers Sales $503.1 billion, Total Sales $1.462 trillion, -0.2% from March 2019, +2.3% from April 2018. USDOC PR link.

The US Dept of Commerce/Census says the US Advance May 2019 Retail Sales-Retail is at $457.2 billion, Food Services & Drinking Places $61.8 billion, Total Retail Sales $519.0 billion, +0.5% from April 2019, +3.2% from May 2018. USDOC PR link.

The US Federal Reserve says the US Preliminary May 2019 Manufacturing Total Industry % of Capacity is at 78.1%, April 2019 was at 77.9%, March 2019 78.4%, May 2018 77.5%. USFed PR link.

The U of Michigan US Preliminary June 2019 Consumer Sentiment Index is at 97.9, May 2019 was at 100.0, April 2019 97.2, June 2018 98.2. UMichigan PR link.

***Thursday, June 13:

ExxonMobil(PBR2) and Saudi Arabia based 50/50 partner SABIC to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker, the largest in the world, in San Patricio County, TX, construction to start in 3Q19, in production by 2022. $XOM PR link.

Tyson(PBR74) introduces its first plant-based and blended products, along with its new Raised & Rooted® brand. $TSN PR link.

Twitter(PBR729) removes nearly 4,800 accounts with Iran government connections. $TWTR PR link.

Verso Corp(PBR790) adopts a limited duration stockholder rights plan as it continues to seek a new CEO and review strategic alternatives. $VRS PR link.

KKR(PBR833) to sell its global copper foils and flexible copper clad laminates predominantly used in li-ion batteries for electric vehicle applications producer KCF Technologies unit to SK Group affiliate for $1 billion. $KKR PR link.

Cedar Fair(PBR976) to acquire Schlitterbahn Waterparks and Resorts in New Braunfels, TX, and Galveston, TX, for $261 million, along with the right to acquire an additional 40 acre property in Kansas City, KS, for $6 million cash for future development. $FUN PR link.

Red Robin(PBR978) gets letter from activist investor Vintage Capital critical of current directions and decisions, offers to buy RRGB for $40/share, recommends replacing current Board. $RRGB PR link.

Red Robin(PBR978) says it is surprised by comments on filing by activist shareholder Vintage Capital because of discussions they had had and did not recommend any CEO candidates, reviews its current status regarding a CEO search and corporate directions. $RRGB PR link.

Regis Corp(PBR986) announces the profitable sale and transfer of 96 of its California-based Supercuts® salons to the Moxie Management Group, a portfolio company of a Spanos Barber Jesse & Co managed fund. $RGS PR link.

The US Dept of Labor says the US Preliminary May 2019 All Import Prices Index is at -0.3%, Exports -0.1%; the May 2019 Year-to-Year Import Prices Index is at -1.5%, Exports -0.7%. USDOL PR link.

***Wednesday, June 12:

Ford(PBR12) announces a field service action to correct a suspension issue in certain model year 2011 through 2017 Explorer vehicles, expects to take $180 million charge from its N America business unit in 2Q19. $F PR link.

Facebook(PBR55 $FB) opens engineering center in London dedicated to eliminating harmful content, will add more than 500 tech jobs before the end of the year. MarketWatch PR link.

Jacobs Engineering(PBR204) completes $11.25 per share in cash, with enterprise value, net of tax assets, of approximately $815 million, including an estimated $272 million of net debt, national security provider of advanced engineering and technology solutions for the Intelligence, Cyber and Counterterrorism communities KeyW. $JEC PR link.

BB&T(PBR239) and SunTrust Banks(PBR287)$66 billion merger stock deal to close by end of 4Q19, new name with be Truist. $BBT PR link.

Groupon(PBR798) announces a US distribution partnership with GasBuddy for consumers to earn GasBack rewards for Groupon purchases. $GRPN PR link.

KKR(PBR833) to launch voluntary public tender offer for Germany based media and technology company active in more than 40 countries Axel Springer SE for around $70.55/share, a 40% premium, around $7.6 billion. $KKR PR link.

KKR(PBR833) doubles its investment with additional $250 million commitment to investor of small balance real estate loans throughout the US and the UK, including single-family rental loans and commercial and residential bridge loans, Toorak Capital Partners, which recently completed more than $2.5 billion in investments across more than 8,000 loans in 45 states and the U.K., more than doubling the company’s $1 billion milestone of total loans purchased at this time last year. $KKR PR link.

The US Dept of Treasury says that the US May 2019 Federal Government Receipts were $232.1 billion, Outlays $439.8 billion, for a May 2019 Deficit of $207.8 billion, the May 2018 Deficit was $146.8 billion; The May 2019 YTD Federal Government Receipts(8 Months) is at $2.275 trillion, YTD Outlays $3.014 trillion, for a YTD Deficit of $738.6 billion, the May 2018 YTD Deficit was at $532.2 billion. USTreasury PR link.

The US Dept of Labor says the US Preliminary May 2019 Consumer Price Index-All Items is at +0.1%, April 2019 was at +0.3%, March 2019 +0.4%, May 2018 +0.2%, Last 12 Months +1.8%. USDOL PR link.

The US Dept of Labor says the US Preliminary May 2019 Current Average Earnings/Hour is at $27.83, Average Hours Worked Per Week is at 34.4, Total Average Weekly Earnings are at $957.35, +0.2% from April 2019, +2.8% from May 2018. USDOL PR link.

***Tuesday, June 11:

Amazon(PBR5 $AMZN) to shut down its Amazon Restaurants food delivery service in the 20 US cities it serves on 06/24/19, will also shut down its Daily Dish, a workplace lunch delivery service that launched in 2016, on 06/14/19. GeekWire PR link.

Facebook(PBR55) introduces Study from Facebook, an app for market research, will compensate users. $FB PR link.

Facebook(PBR55 $FB) is building a giant solar farm in Texas for its first direct investment in renewable energy, $416 million project.MarketWatch PR link.

3M(PBR90) to take $160 million pre-tax 2Q19 charge for deconsolidation of its Venezuelan subsidiary, which was effective 05/31/19. $MMM PR link.

Tesla(PBR140) CEO Elon Musk at annual shareholder meeting says the is no demand problem for Tesla vehicles, spoke about the Model Y, Tesla’s next vehicle, the gigafactory under construction in China and a future one in Europe, and promised another Tesla acquisition to ease the company’s entry into insurance.MarketWatch PR link.

VISA(PBR149) announces the commercial launch of the Visa B2B Connect network, giving financial institutions an ability to quickly and securely process high-value corporate cross-border payments globally. $V PR link.

Boston Scientific(PBR310) completes $465 million plus additional milestones achieved payments acquisition of privately-held Superion® Indirect Decompression System developer Vertiflex, anticipates $60 million in revenues in 2019. $BSX PR link.

H&R Block(PBR710) to acquire Toronto, Ontario based 400,000 small businesses globally monthly financial solutions platform provider Wave Financial for $405 million cash, to close in the next few months. $HRB PR link.

Brinker Intl(PBR712) gives DoorDash exclusive agreement to be delivery service for its 1,000+ Chili’s restaurant locations. $EAT PR link.

TEGNA(PBR866) to acquire Indianapolis, IN, NBC television affiliate WTHR, the Columbus, OH, CBS television affiliate WBNS and its sports radio station WBNS, from the Dispatch Broadcast Group, for $535 million in cash, to close 3Q19. $TGNA PR link.

The US Dept of Labor says the US Preliminary May 2019 Producer Price Index Final Demand-Goods was -0.2%, Services +0.3%, Total Final Demand +0.1%, April 2019 was +0.2%, March 2019 +0.6%, May 2018 +0.4%, Last 12 Months +1.8%. USDOL PR link.

CoreLogic says the US March 2019 Housing Loans 30 Days or More Delinquents was at 4.0%, February 2019 was at 4.0%, January 2019 4.0%, March 2018 4.3%, the March 2019 Housing Mortgages in Foreclosure were at 0.4%, March 2018 was at 0.6%. “… the continued improvement in overall mortgage performance bodes well for the health of the U.S. market in 2019.” CoreLogic PR link.

Manpower(PBR135) says US employers are reporting the strongest nationwide hiring intentions in 13 years at +21%, according to the 3Q19 ManpowerGroup Employment Outlook Survey. $MAN PR link.

***Monday, June 10:

Phillips 66(PBR23) and Plains All American Pipeline(PBR87) form 50/50 joint venture Red Oak Pipeline to provide crude oil transportation service from Cushing, OK, and the Permian Basin in West Texas to Corpus Christi, Ingleside, Houston and Beaumont, TX, initial service planned for 1Q21, to cost around $2.5 billion. $PSX PR link.

Target(PBR38) expands family benefits policies for both fulltime and parttime workers, including backup care, new paid family leave, doubling adoption and surragacy reimbursement. $TGT PR link.

Intel(PBR42) to acquire Santa Clara, CA-based Barefoot Networks, provides expertise for cloud network architectures, P4-programmable high-speed data paths, switch silicon development, P4 compilers, driver software, network telemetry and computational networking, to close in 3Q19, terms not disclosed. $INTC PR link.

Merck(PBR70) to acquire privately held therapeutics targeting the latent TGFβ complex for the treatment of cancer, fibrosis and autoimmune diseases biopharmaceutical company Tilos Therapeutics for up to $773 million, includes upfront payment and contingent milestone achievements. $MRK PR link.

Raytheon(PBR105) and United Technologies(PBR45) to combine in merger of equals in all stock transaction, UTX shareholders will own 57% of stock, Raytheon shareholders 43%, will be named Raytheon Technologies, to be headquartered in Boston area, will have pro forma 2019 revenues of $74 billion, to close in 2H20 after UTX completes spinoffs of Carrier and Otis business units. $RTN PR link.

Thermo-Fisher Scientific(PBR118) $925 million acquisition of manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes Gatan, a wholly owned subsidiary of Roper Technologies(PBR530) is terminated by mutual agreement, unable to get UK regulatory approval. $TMO PR link.

Broadcom(PBR146) gets 2 year agreement to provide Apple(PBR3) with specified, radio-frequency front end components and modules for Apple’s smartphones, tablets and watches, and to maintain and allocate to them sufficient manufacturing capacity and other resources to make these products. $AVGO PR link.

Salesforce(PBR236) to acquire self-service analytics platform provider Tableau Software(NYSE: DATA) in a $15.7 billion all-stock deal, to close by 10/31/19. $CRM PR link.

GameStop(PBR310) to launch a “modified Dutch auction” tender offer to purchase up to 12,000,000 shares of its Class A common stock for not greater than $6.00 and not less than $5.20 per share, to start 06/11/19, expires 07/10/19. $GME PR link.

Apollo Global Mgmt(PBR995) to acquire photo personalization provider Shutterfly(NASDAQ: SFLY) for $51.00/share, around $2.7 billion cash, to close by early 4Q19, will combine it with its Snapfish acquisition, which will close at the same time. $APO PR link.

PVH(PBR314) promotes Cheryl Abel-Hodges to CEO of its Calvin Klein unit, succeeds leaving Steve Shiffman. $PVH PR link.

The US Dept of Labor says the US Preliminary April 2019 Job Openings-Private was at 6,726,000, Government 723,000, Total Openings 7,449,000, -0.3% from March 2019, +4.8% from April 2018. USDOL PR link.

***Friday, June 7:

The PBRMarketTools US Stock Exchanges Recap for Week 23 of 2019 ending 06/07/19:

DJIA ends Week 23 at 25,983.94, +4.71% from last Friday/MTD, +0.21% QTD, +11.39% YTD, -3.15% from record 26,828.39 set 10/03/18.

NASDAQ ends Week 23 at 7,742.10, +3.88% from last Friday/MTD, +0.17% QTD, +16.68% YTD, -5.17% from record 8,164.00 set 05/03/19.

SPX ends Week 23 at 2,873.34, +4.41% from last Friday/MTD, +1.37% QTD, +14.62% YTD, -2.46% from record 2,945.83 set 04/30/19.

The Week 23 News Summary: Despite the continuing focus on the inability on the US and China to come up with a trade deal and none currently in sight, the new 5% tariffs increasing monthly to 25% threatened against Mexico for not helping stem the tide of illegal immigration from Central American countries into the US, and a lackluster US jobs report, the stock exchanges recovered significantly from the losses inflicted in May. A big part of that was the strong possibility of the Federal Reserve cutting short term interest rates, continued low unemployment, a moderate growth report indicated by the Beige Book, a rebound by the tech sector, and maybe because US President Trump was in Europe for the week for the commemoration of the 75th Anniversary of D-Day. The Stock Market Bull had an overwhelming 3-0 win, his first outright weekly victory since 04/05/19, his best week of the year. The Stock Market Bear after some action on Monday decided to leave and become part of a circus disappearing act.

The Week 23 YTD tally is:
The Stock Market Bull: 11 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 6 weeks

Walmart(PBR1) to offer Walmart InHome Delivery starting in the Fall 2019, in Kansas City, MO, Pittsburgh, PA, and Vero Beach, FL, includes in home delivery of groceries and placing them in the refrigerator. $WMT PR link.

FedEx(PBR46) makes strategic decision to not renew the FedEx Express US domestic contract with Amazon(PBR5), will focus on serving the broader e-commerce market, does not affect other contracts with Amazon, represented 1.3% of revenues in 2018. $FDX PR link.

Biogen(PBR239) completes $25.50/share $800 million acquisition of London, UK-based clinical-stage gene therapy company focused on adeno-associated virus (AAV) treatments for inherited retinal disorders Nightstar Therapeutics(NST; Nasdaq: NITE). $BIIB PR link.

Barnes & Noble(PBR647) to be acquired by affiliates of Elliott Management for $6.50/share, around $683 million, to become a private company, CEO will be James Daunt, CEO of UK bookstore chain Waterstones which was acquired by Elliott Management in 06/18, to close in 3Q19. $BKS PR link.

Vertex Pharmaceuticals(PBR721) to expand collaboration with CRISPR Therapeutics (NASDAQ: CRSP) with $175 million upfront payment and up to $1 billion in additional milestone and royalty payments, will acquire Exonics Therapeutics for $245 million as part of a $1 billion deal based on milestone achievements, enhances its gene editing capabilities to develop therapies for Duchenne Muscular Dystrophy (DMD) and Myotonic Dystrophy Type 1 (DM1). $VRTX PR link.

American Equity(PBR945) says it is no longer in discussions regarding a potential transaction, was not in the best interest of shareholders. $AEL PR link.

Alliance Data(PBR379) President/CEO/Board member Ed Heffernan has resigned, Epsilon acquisition has been completed, President of Card Services unit Melisa Miller named President/CEO and member of the Board effective immediately, other senior executive changes announced. $ADS PR link.

The US Dept of Labor says the US May 2019 Employed Workers is at 156,758,000, +113,000 from April 2019, +1,219,000 from May 2018, May 2019 Unemployed is at 5,888,000, +63,000 from April 2019, -240,000 from May 2018, May 2019 Unemployment Rate stays at 3.6%, was 3.8% in May 2018. USDOL PR link.

The US Federal Reserve Board says the US Preliminary April 2019 Total Consumer Debt-Revolving was at $1.065 trillion, Non-Revolving$3.005 trillion, April 2019 Total Consumer Debt$4.070 trillion, +0.4% from March 2019, +1.5% YTD(4 months), +5.1% from April 2018. USFed PR link.

The US Dept of Commerce/Census says the US Preliminary April 2019 Wholesale Sales-Durables was at $240.4 billion, Non-Durables$262.7 billion, Total $503.1 billion, -0.4% from March 2019, +2.7% from April 2018. USDOC PR link.

The FannieMae(PBR21) US May 2019 Home Purchase Sentiment Index is at 92.0, April 2019 was at 88.3, March 2019 89.8, May 2018 92.3. Headline: “Americans’ Confidence in Housing Nears Survey High, Despite Moderating Optimism About Wage Growth and Job Security.” $FNMA PR link.

***Thursday, June 6:

Ford(PBR12) British subsidiary to take $650 million pre-tax charge mostly in 2019 to exit the Ford Bridgend Engine Plant in South Wales, will cease production during 2020. $F PR link.

Alphabet(PBR15)’s Google unit to acquire unified platform for business intelligence, data applications and embedded analytics Looker for $2.6 billion cash, will become part of Google Cloud. $GOOG PR link.

Alphabet(PBR15)’s Google unit announces first collection of games for its Stadia service, Stadia Founder’s Edition discounted from $300 to $129.99 on a pre-order basis, to launch in 14 countries including the US in 11/19. $GOOG PR link.

Anthem(PBR33) to acquire Beacon Health Options, the largest independently held behavioral health organization in the US, serving 36+ million individuals across all 50 states, from Bain Capital Private Equity and Diamond Castle Holding, terms not disclosed, to close in 4Q19. $ANTM PR link.

Altice USA(PBR310) completes $200 million acquisition of digital-first, live business, general news and college network focused on young professional and millennial audiences with over 400 million video views a month company Cheddar. $ATUS PR link.

Fastenal(PBR528) industrial vending program for nuts, bolts, and screws achieves 100,000-plus active devices across 25 countries. $FAST PR link.

Meredith Corp(PBR849)’s Entertainment Weekly to become a monthly starting in 08/19, to increase investment in EW.com and digital, social, video and experiential platforms. $MDP PR link.

The US Dept of Labor says US Revised 1Q19 Labor Productivity Output/Hr-All Employees-Business Sector is at +3.5%, 4Q18 was at +1.2%, 3Q18 +1.5%, 1Q18 +0.9%. USDOL PR link.

The US Dept of Commerce says US April 2019 Exports-Goods was at $136.9 billion, Services$69.9 billion, Total Exports $206.8 billion, Imports-Goods was at $208.7 billion, Services$49.0, Total Imports $257.7 billion, Total Deficitwas $50.9 billion, Total Deficit YTD(4 months)is at $205.5 billion, Total Deficit YTD(4 months) in 2018 was $202.0 billion. USDOC PR link.

***Wednesday, June 5:

Amazon(PBR5) Re: MARS conference news items regarding StyleSnap, warehousing/robotics, and drone delivery services. $AMZN PR link.

3M(PBR89) to sell its 500 employees gas and flame detection business to Teledyne(PBR747)for $230 million, to close 2H19. $MMM PR link.

Eli Lilly(PBR115) gets US FDA approval for Emgality® (galcanezumab-gnlm) injection (300 mg) for the treatment of episodic cluster headache in adults, the first and only calcitonin gene-related peptide (CGRP) antibody approved by the FDA for two distinct headache disorders. $LLY PR link.

Tesla(PBR139 $TSLA) is estimated to have sold nearly 3 times as many electric cars as its rivals, according to Morgan Stanley research.MarketWatch PR link.

Carnival Corp(PBR160 $CCL) and its Princess Cruises unit ordered to pay $20 million fine for plastics and garbage dumping in the ocean per US Dept of Justice suit, follows $40 million fine in 04/17 for oil dumping. DOJ PR link.

Bristol-Myers Squibb(PBR131) announces senior management leadership team after $74 billion acquisition of global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases Celgene(PBR220), to close in 3Q19. $BMY PR link.

LabCorp(PBR267) Chairman/President/CEO David P. King to step down as President/CEO on 10/31/19, will become Executive Chairman on 11/01/19, Board member Adam H. Schechter to become President/CEO. $LH PR link.

Casey’s General Stores(PBR354) hires Darren Rebelez to become President/CEO on 06/24/19, succeeds Terry Handley who is retiring after 38 years with Casey’s. $CASY PR link.

Red Robin(PBR965) adopts a short-term shareholder rights plan as it completes its ongoing CEO search and executes on its strategic plan. $RRGB PR link.

The US Securities and Exchange Commissionadopts a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated disclosures in line with reasonable investor expectations, while preserving access (in terms of choice and cost) to a variety of investment services and products. SEC PR link.

The US Federal Reserve releases its Beige Book based on information from the Federal Reserve Banks through 05/24/19, says, “Economic activity expanded at a modest pace overall from April through mid-May, a slight improvement over the previous period.” TheFed PR link.

ADP(PBR235) says the US Preliminary May 2019 Change in Employment is at +27,000, -52,000 from Small Businesses(1-49 employees), +11,000 from Mid-Sized Businesses(50-499 employees), +68,000 from Large Businesses(500 and more employees), -43,000 from Goods Producing Sector, +71,000 from the Services-Providing Sector. $ADP PR link.

The Institute for Supply Management says the US May 2019 Non-Manufacturing Index(>50% indicates economy is growing) is at 56.9%, April 2019 was at 55.5%, March 2019 56.1%, May 2018 58.9%. “The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall. Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.” ISM PR link.

The IHS Markit US May 2019 Composite PMI Output Index is at 50.9, April 2019 was at 53.0, March 2019 54.6, May 2018 56.6. “… business confidence dipped to its lowest since June 2016 amid concerns about global trade tensions and less robust demand conditions.” IHS Markit PR link.

***Tuesday, June 4:

Walmart(PBR1) expanding its Live Better Ueducation benefit to include new technology degrees and certificates for $1 a day and offering high school students a bridge into the workforce, including access to all its learning programs. $WMT PR link.

Apple(PBR3 $AAPL) is being sued by two app developers claiming that Apple engaged in anticompetitive conduct by only allowing the downloading of iPhone apps through Apple’s official App Store. Apple also requires developers to price their apps in tiers ending in 99 cents and takes up to a 30% commission from developers on the sale of apps. Reuters PR link.

CVS Health(PBR8) expects to open 1,500 HealthHUBs by end of 2021 as part of strategy to accelerate growth. $CVS PR link.

Group 1 Automotive(PBR261) does nationwide launch of AcceleRide®, its new online automotive purchase platform, includes online inventory of over 38,000+ new and pre-owned vehicles, currently live at 79 dealerships, will be available at all 116 Group 1 US dealerships by the end of the summer. $GPI PR link.

Newell Brands(PBR341) to sell its $112 million in revenues in 2018 The United States Playing Card Company to Cartamundi Group, a leading manufacturer and distributor of playing cards and board games, terms not disclosed, to close in 2H19. $NWL PR link.

Michaels Cos(PBR504) partnering with Cricutfor upcoming availability of Infusible Ink™, an all-new system of Cricut products that brings commercial-level, permanent heat-transfer effects to the consumer do-it-yourself (DIY) space, to be available from 06/21/19 through 10/01/19. $MIK PR link.

Sprouts(PBR511) announces 06/11/19 National Hiring Day from 9AM-7PM, to hire around 1,500 across 300 stores. $SFM PR link.

Continental Resources(PBR541) authorizes initial $1 billion share buyback program, starts 2Q19, expires end of 2020. $CLR PR link.

Mattel(PBR558) announces international licensing agreement with Hello Kitty brand builder Sanrio to design and develop a wide array of toys, dolls, playsets, games, puzzles, baby gear, plush, vehicles and other products inspired by Hello Kitty & Friends and Hello Kitty Cafe, as well as a range of characters in the Sanrio portfolio, to be available in the Fall of 2020. $MAT PR link.

Tupperware(PBR862) announces “No Time to Waste” vision, to significantly reduce plastic and food waste by 2025 through its global network of 3 million Sales Force, 12,000 associates and suppliers. $TUP PR link.

CACI(PBR564) President/CEO Ken Asbury to retire and resign from the Board effective 06/30/19, COO John Mengucci to be successor on 07/01/19. $CACI PR link.

The US Dept of Commerce/Census says the US Preliminary April 2019 New Orders-Durable Goods is at $248.6 billion, Non-Durable Goods $250.7, Total $499.3 billion, -0.8% from March 2019, +0.6% from April 2018; Total YTD is at $1.200 trillion, +1.7% from April 2018. USDOC PR link.

The PurdueU/CME Group says the US May 2019 Ag Economy Barometer was at 101, April 2019 was at 115, March 2019 133, May 2018 141. PurdueU PR link.

***Monday, June 3:

Apple(PBR3) at its World Wide Developers Conference 2019 unveils several new products and developer tools. $AAPL PR link.

Humana(PBR54) says it will not make a proposal to combine with Centene(PBR50) as an alternative to Centene’s proposed acquisition of WellCare Health Plans(PBR168). $HUM PR link.

Tyson(PBR74) completes $340 million acquisition of Thailand and Europeanoperations of BRF SA, includes four processing facilities in Thailand, one processing facility in the Netherlands and one processing facility in the UK. $TSN PR link.

Altria(PBR111) will invest $372 million for an 80% ownership interest in certain companies of Switzerland based Burger Group that will commercialize oral tobacco-derived nicotine pouch product on! worldwide. $MO PR link.

Tesla(PBR139 $TSLA) likely to build Model Y at California plant, Elon Musk says. MarketWatch PR link.

Sears(PBR168) parent Transform Holdings(aka the new Sears) will acquire the outstanding shares of Sears Hometown(PBR917) not owned by ESL Investments and its affiliates for $2.25/share cash, to close in SHOS 3Q19 fiscal year. $SHLDQ PR link.

Las Vegas Sands(PBR226) completes $1.3 billion sale of its Sands Bethlehem property in Pennsylvania to an affiliate of Poarch Band of Creek Indians of Alabama. $LVS PR link.

LabCorp(PBR267)’s Covance Drug Development segment has completed the acquisition of Envigo’s nonclinical contract research services business, Envigo’s Research Models and Services business has completed the acquisition of LabCorp’s Covance Research Products business, results in net payment by LabCorp of $485 million, will increase LabCorp’s revenue by an incremental $156 million/year. $LH PR link.

PVH(PBR314)’s Calvin Klein subsidiary and G-III(PBR759) have entered into a license agreement with an initial term of five years for the design, production and distribution of Calvin Klein Jeans women’s jeanswear collections in the US and Canada, is in addition to the other women’s Calvin Klein businesses that are already licensed to G-III by CKI. $PVH PR link.

Quest Diagnostics(PBR390 $DGX) says 11.9 million patients may be affected by latest data breach through its outsourced collections vendor. MarketWatch PR link.

Blackstone(PBR423) to acquire assets from three of GLP’s US funds for $18.7 billion, totals 179 million square feet of urban, infill logistics assets, nearly doubling the size of Blackstone’s existing US industrial footprint. $BX PR link.

AMD(PBR440) gets multi-year royalties agreement to license custom graphics IP based on the recently announced, highly-scalable RDNA graphics architecture to Samsung for use in mobile devices, including smartphones, and other products. $AMD PR link.

Ventas(PBR636) to acquire a Class A portfolio of 31 purpose-built seniors housing communities and four in-progress developments in Quebec market through an 85/15 percent equity partnership with Le Groupe Maurice, portfolio is valued at $1.8 billion, to close in 3Q19. $VTR PR link.

ASGN(PBR675) authorizes up to $250 million share repurchase program, expires in 2 years. $ASGN PR link.

Laureate Education(PBR682) completes sale of its universities in Spain and Portugal to global private equity firm Permira Funds for around $908 million net proceeds. $LAUR PR link.

Tronox(PBR921) authorizes up to $100 million share repurchase program. $TROX PR link.

United Technologies(PBR45) appoints David L. Gitlin as President/CEO of its 55,000 employees Carrier unit and Judith F. Marks as President/CEO of its 68,000 employees Otisunit, effective immediately, both units to be spunoff as stand-alone public companies. $UTX PR link.

The US Dept of Commerce/Census says the US Preliminary April 2019 Total Construction Spending Annual Rate-Residential is at $505.9 billion, Non-Residential $792.6 billion, Total$1.299 trillion, -0.1% from March 2019, -1.2% from April 2018. USDOC PR link.

The ISM Preliminary May 2019 Manufacturing PMI Index(>50% means economy expanding)was at 52.1%, April 2019 was at 52.8%, March 2019 55.3%, May 2018 58.7%. “Respondents expressed concern with the escalation in the U.S.-China trade standoff, but overall sentiment remained predominantly positive. The PMI® continues to reflect slowing expansion …” ISM PR link.

IHS Markit says the US May 2019 Manufacturing PMI Index is at 50.5, April 2019 was at 52.6, March 2019 52.4, May 2018 56.4. “The headline PMI fell to its lowest level since September 2009 as output growth eased and new orders fell for the first time since August 2009.” IHS Markit PR link.

***Friday, May 31:

The PBRMarketTools US Stock Exchanges Recap for the End of May and Week 22 of 2019 ending 05/31/19:

DJIA ends month and week at 24,815.04, -3.01% from last Friday, -6.69% MTD, -4.30% QTD, +6.38% YTD, -7.50% from record 26,828.39 set 10/03/18.

NASDAQ ends month and week at 7,453.15, -2.41% from last Friday, -7.93% MTD, -3.57% QTD, +12.33% YTD, -8.71% from record 8,164.00 set 05/03/19.

SPX ends month and week at 2,752.06, -2.62% from last Friday, -6.58% MTD, -2.91% QTD, +9.78% YTD, -6.58% from record 2,945.83 set 04/30/19.

The Month 5 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 1 month
Mixed Results: 0 months

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The PBR1000 May 2019 Stocks & Commodities Snapshots

June 4, 2019 by admin

May 2019 The PBR1000: A The Stock Market Bear of a Month

The Stock Market gets his first month of 2019. As a reward would he prefer a beehive full of honey or a potful of the money lost?

By Larry C. Paxton

The May 2019 US Stock Exchanges Summary: It has become the neverending story, international trade, as US/China trade negotiations are bogged down, Mexico has been threatened with tariffs to force it to become part of the illegal immigration drama. The UK Brexit situation is up in the air with Prime Minister May resigning her post. With sanctions on China’s technology behemoth Huawei the US tech sector took some hits. The US economy is still proceeding at a slower moderate pace with concerns it might be slowing further and the word “recession” is popping up more frequently. With all that The Stock Market Bear easily won all weeks in May to take his first monthly victory in a big way and severely and convincingly gouging The Stock Market Bull into submission.

The Month 5 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 1 month
Mixed Results: 0 months

The May 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 22

Number of Gain(+)/Loss(-) Days: DJIA 9+/13-; NASDAQ 8+/14-; SPX 8+/14-.

Record Days: DJIA 0, NASDAQ 1(05/03/19), SPX 0

Longest Gain Streak(Consecutive Days): DJIA, NASDAQ, and SPX 3 days(05/14-16 /19)

Longest Loss Streak(Consecutive Days): DJIA 2 days(05/06-07, 17-20, 28-29/19), NASDAQ and SPX 4 days(05/06-09/19)

Big Swing Up Days(>1.00%): 4 days (05/03/19(N 1.58%), 05/14/19(N +1.14%), 05/15/19(N +1.13%), 05/21/19(N +1.08%))

Big Swing Down Days(<-1.00%): 6 days (05/07/19(D -1.79%, N -1.96%, S -1.65%), 05/13/19(D -2.38%, N -3.41%, S -2.41%), 05/17/19(N -1.04%), 05/20/19(N -1.46%), 05/23/19(D -1.11%, N -1.58%, S -1.19%), 05/31/19(D -1.41%, N -1.51%, S -1.22%))

The PBR1000 May 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 May 2019 Snapshots. The price for stocks is for the close of trading on May 31, 2019, Month % Chg is compared to April 30, 2019, YTD % Chg is compared to December 31, 2018, and the 17 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the May 2019 edition with the complete 15 Snapshots and 27 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

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

Table 1 Summary: The range was +23% to -73%. 176 out of 998 stocks were up 0% or more. The average was a loss of 6.54%, the median was a loss of 8.06%. The DJIA was -6.69%, NASDAQ -7.93%, SPX -6.58%.

Company	PBR Rank	Symbol	Price 05/31/19	Mo % Chg	YTD % Chg	17 Mos % Chg
Sprint	88	S	$ 6.87	+23	+18	+17
FannieMae	21	FNMA	$ 3.05	+23	+188	+15
Babcock & Wilcox	1000	BW	$ 0.43	+23	+10	-92
Calumet Specialty	667	CLMT	$ 4.25	+23	+92	-45
FreddieMac	39	FMCC	$ 2.93	+22	+179	+16

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +241% to -91%. 675 out of 997 stocks were up 0% or more. The average was a gain of 11.08%, the median was a gain of 8.51%. The DJIA was +6.38%, NASDAQ +12.33%, SPX +9.78%.

Company	PBR Rank	Symbol	Price 05/31/19	Mo % Chg	YTD % Chg	17 Mos % Chg
Diebold Nixdorf	555	DBD	$ 8.50	-16	+241	-48
FannieMae	21	FNMA	$ 3.05	+23	+188	+15
FreddieMac	39	FMCC	$ 2.93	+22	+179	+16
Avon Products	491	AVP	$ 3.76	+18	+147	+75
Ferrellgas	880	FGP	$ 1.17	-6	+117	-73

Table 3(S13): The PBR1000 Top 5 17 Months Stock Price % Gainers

Table 3 Summary: The range was +167% to -98%. 377 out of 996 stocks were up 0% or more. The average was a loss of 0.65%. The median was a loss of 7.43%. The DJIA was +0.39%, NASDAQ +7.96%, SPX +2.93%.

Company	PBR Rank	Symbol	Price 05/31/19	Mo % Chg	YTD % Chg	17 Mos % Chg
AMD	444	AMD	$ 27.41	-1	+48	+167
SeaWorld	973	SEAS	$ 32.00	+20	+45	+136
Chipotle	536	CMG	$ 659.97	-4	+53	+128
Rent-A-Center	798	RCII	$ 23.86	-4	+47	+115
BlueLinx	758	BXC	$ 20.09	-22	-19	+106

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

Table 4 Summary: The range was $963 billion to $0.01 billion. The average is $26.383 billion, median is $7.43 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 05/31/19	Mo % Chg	YTD % Chg	17 Mos % Chg
Microsoft	25	MSFT	$ 963 B	-3	+25	+46
Amazon	5	AMZN	$ 894 B	-6	+24	+61
Apple	3	AAPL	$ 820 B	-15	+11	-6
Alphabet	15	GOOG	$ 777 B	-13	+8	+7
Facebook	55	FB	$ 522 B	-6	+36	+2
The PBR1000			$ 26,383 B	-5	+11	+2

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

Company	Price 05/31/19	Mo % Chg	YTD % Chg	17 Mos % Chg
The PBR1000	85,835.32	-6.5	+11.1	-0.7
DJIA	24,815.04	-6.7	+6.4	+0.4
NASDAQ	7,453.15	-7.9	+12.3	+8.0
S&P500	2,752.06	-6.6	+9.8	+2.9
GOLD	1,311.10	+2.0	+2.1	+0.5
SILVER	14.57	-2.8	-6.4	-14.2
OIL	53.50	-16.3	+16.8	-11.0

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PBRMarketTools.com provides The PBR1000, a compilation of 1,000 of the largest publicly held companies with primary operations in the US. These companies generate $14 trillion in annual revenues, more than all other US companies combined. The PBR1000 Monthly Snapshots provides these 1,000 companies in Excel format, includes 15 worksheets with 27 rankings, over 200 data/information points, hotlinks to key data, and important news items per company. This service is used by astute business professionals and shrewd investors worldwide.

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The PBR1000 May 2019 Breaking News Recap

June 3, 2019 by admin

The PBR1000 Experiences Some Confusion In May 2019

International relations and actions from US/China trade to Brexit created some big question marks about how The PBR1000 and all businesses should proceed.

By Larry C. Paxton

The Month of May News Summary: Markets continued to show strong reactions to the ups and downs of the US/China trade negotiations, which at month end seemed to be at an impasse. This has been compounded by President Trump announcing in the last week a 5% tariffs on all Mexican goods, to grow by 5% per month until a maximum of 25%, as an incentive for Mexico to stop and contain the flow of illegal immigrants from Central America into the US. Another factor is the failure of the UK to make a Brexit deal, which has resulted in the step down of the prime minister and forcing new elections. The US economy continues to show growth by most measures, but at a slowing pace, but consumers continue to feel optimistic about the future. US politics are stirring up more noise and controversy as the 2020 US elections are starting to take stage, sparked by President Trump’s non-traditional way of governing and managing the Executive Branch. The Mueller Report on possible Russian collusion has created more controversy. The uncertainties got a big hug from The Stock Market Bear who knocked The Stock Market Bull into near unconsciousness as stock prices backtracked to the end of January levels. The Stock Market Bear easily takes the month, the 4th 3-0 week in a row, and gets his first monthly win of 2019.

Here are The PBR1000 corporate, stock market, and economic related breaking news items of interest with hotlinks to the sources for May 2019, starting with the last active business day:

***Friday, May 31:

The PBRMarketTools US Stock Exchanges Recap for the End of May and Week 22 of 2019 ending 05/31/19:

DJIA ends month and week at 24,815.04, -3.01% from last Friday, -6.69% MTD, -4.30% QTD, +6.38% YTD, -7.50% from record 26,828.39 set 10/03/18.

NASDAQ ends month and week at 7,453.15, -2.41% from last Friday, -7.93% MTD, -3.57% QTD, +12.33% YTD, -8.71% from record 8,164.00 set 05/03/19.

SPX ends month and week at 2,752.06, -2.62% from last Friday, -6.58% MTD, -2.91% QTD, +9.78% YTD, -6.58% from record 2,945.83 set 04/30/19.

The Week 22 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 6 weeks
Mixed Results: 6 weeks

The Month 5 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 1 month
Mixed Results: 0 months

PVH(PBR314) completes $88 million acquisition of its longtime Australian partner Gazal Corporation it does not already own, gives PVH full control of its brands in Australia, did around $185 million in sales in 2018. $PVH PR link.

The US Dept of Commerce/BEA says US Preliminary April 2019 Personal Income Annual Rate is at $18.099 trillion, +0.5% from March 2019, +3.9% from April 2018. USDOC PR link.

The Federal Reserve Bank of Chicago says the 7th District Preliminary April 2019 Midwest Economy Index is at -0.04, March 2019 was at +0.21, February 2019 +0.29, April 2018 +0.49. ChiFed PR link.

The MNI May 2019 Chicago Business Barometer(>50 is Gaining) is at 54.2, April 2019 was at 52.6, March 2019 58.7, May 2018 62.7. MNI PR link.

The U of Michigan US Final May 2019 Consumer Sentiment Index is at 100.0, April 2019 was at 97.2, March 2019 98.4, May 2018 98.0. UMichigan PR link.

***Thursday, May 30:

General Motors(PBR13) to invest $24 million to expand its Fort Wayne Assembly plant in Indiana to further increase production of the all-new full size Chevrolet Silverado 1500 and GMC Sierra 1500 pickups – especially crew cab models, has invested over $1.2 billion in plant since 2015. $GM PR link.

FedEx(PBR46) Ground delivers 7 days/week during the holiday peak season, beginning in 01/20 will continue year-round for the majority of the US population. $FDX PR link.

Icahn Enterprises(PBR288 $IEP)‘s Carl Icahn sues Occidental(PBR158) over ‘hugely overpriced’ Anadarko(PBR233) deal, looking to replace Board, has a 5% stake in OXY. MarketWatch PR link.

Fifth Third Bancorp(PBR373) files application with the Office of the Comptroller of the Currency to convert from an Ohio state-chartered bank to a national bank. $FITB PR link.

American Tower(PBR394) to acquire Eaton Towers Holding Ltd, which owns/operates approximately 5,500 communications sites across five African markets, for $1.85 billion, includes Eaton debt, to close by 12/31/19. $AMT PR link.

The US Dept of Commerce/BEA says the US 2nd Estimate for the 1Q19 Gross Domestic Product is revised from 3.2% to 3.1%, $21.049 trillion, +0.9% from 4Q18, +5.0% from 1Q18. USDOC PR link.

The US Dept of Labor says the US Initial Unemployment Claims 4 Week Average for Week Ending 05/25/19 is at 216,750, +5.2% from 04/20/19, -2.5% from 05/26/18; the Total Insured Unemployment 4 Week Moving Average Ending 05/18/19 is at 1,672,500, -0.9% from 04/13/19, -4.1% from 05/19/18; Insured Unemployment Rate is at 1.2%. USDOL PR link.

The US Energy Information Administrationsays US Crude Oil Stocks for the Week Ending 05/24/19 were at 476.5 Million Barrels, +3.5% from 04/19/19, +9.7% from 05/25/18. EIA PR link.

FreddieMac(PBR39) says the US Average 30 Year Fixed Home Mortgage Rate on 05/30/19was at 3.99% with 0.5 points/fees, 04/25/19 was at 4.20%, 03/28/19 4.06%, 05/31/19 4.56%. $FMCC PR link.

***Wednesday, May 29:

DowDuPont(PBR34) says it expects non-cash impairment charges primarily related to goodwill of $800 million to $1.3 billion for quarter ending 06/30/19 due to recent separations of its business units. $DWDP PR link.

Devon Energy(PBR285) to sell its Canadian business to Canadian Natural Resources Limited for $2.8 billion, to close by end of 2Q19. $DVN PR link.

Frontier Communications(PBR343) to sell its 350,000 residential and commercial customers $619 million in revenues operations and all associated assets in Washington, Oregon, Idaho, and Montana to WaveDivision Capital, LLC in partnership with Searchlight Capital Partners for $1.352 billion cash. $FTR PR link.

Blackstone(PBR423) is selling 40 million of its nearly 180 million shares of its 34.3% stake in Invitation Homes(NYSE: INVH) for around $1 billion, will retain 26.7% stake after sale. $BX PR link.

AMC Entertainment(PBR494) now has more that 20 million households with the AMC Stubsprogram, a 700% increase since its relaunch in the summer of 2016. $AMC PR link.

Abercrombie & Fitch(PBR665) has closed 2 flagship stores, to close New York City, NY, Milan, Italy, and Fukuoka, Japan locations by 1Q20, remains on track to deliver approximately 85 new experiences through new stores, remodels and right-sizes this year. $ANF PR link.

Regis Corp(PBR985) gets agreement for the sale and conversion of an additional 190 company-owned salons to its asset-light franchise portfolio substantially located in the state of Ohio and surrounding areas to the Super C Group. $RGS PR link.

The US Federal Reserve Bank of Richmondsays the 5th District May 2019 Manufacturing Index(Annualized) is at +5%, April 2019 was at +3%, March 2019 +10%, May 2018 +17%. “Firms reported growth in spending and positive overall business conditions and remained optimistic about growth in the coming months.” RichmondFed PR link.

The US Federal Reserve Bank of Richmondsays the 5th District May 2019 Service Sector Revenue Index(Annualized) is at +1%, April 2019 was at +26%, March 2019 +5%, May 2018 +16%. “… service sector activity softened in May… However, respondents were optimistic that growth would improve in the next six months.” RichmondFed PR link.

***Tuesday, May 28:

Wynn Resorts(PBR429) issues statement on Massachusetts Gaming Board decision that it remains suitable by clear and convincing evidence, disagrees with decision that President/CEO Matt Maddox violated company policy, but will not appeal and has paid personal and company fines imposed to avoid delays of the 5 star Encore Boston Harbor gaming resorts opening on 06/23/19. $WYNN PR link.

AMD(PBR440) announces 3rd Gen AMD Ryzen desktop processor, unveils RDNA, the next foundational gaming architecture designed to drive the future of PC gaming, console, and cloud. $AMD PR link.

Hub Group(PBR643) authorizes up to $100 million share repurchase program. $HUBG PR link.

Global Payments(PBR680) and TSYS(PBR607) to combine in an all-stock merger of equals for equity value of around $21.5 billion, will be named Global Payments, to close in 4Q19. $GPN PR link.

Meredith Corp(PBR836) sells intellectual property rights of Sports Illustrated to Authentic Brands Group for $110 million, has 120 million consumers reach, Meredith will pay ABG a licensing fee to operate the Sports Illustrated print magazine and SI.com for a minimum of two years. $MDP PR link.

SeaWorld(PBR981) to purchase approximately 5.6 million shares from an affiliate of Pacific Alliance Group; Hill Path Capital to purchase approximately 13.2 million shares from PAG and increases equity stake to approximately 34.5%. $SEAS PR link.

Avis Budget(PBR329) President/CEO Larry De Shon to step down, will remain until successor appointed, will continue to be employed until 12/31/19. $CAR PR link.

The Conference Board says the US Preliminary May 2019 Consumer Confidence Index is at 134.1, April 2019 was at 129.2, March 2019 124.2, May 2018 128.8. “… Consumers expect the economy to continue growing at a solid pace in the short-term, and despite weak retail sales in April, these high levels of confidence suggest no significant pullback in consumer spending in the months ahead.” TCB PR link.

The S&P/CoreLogic/Case-Shiller US Preliminary March 2019 National Home Price Index(01/2000=100) is at 206.23, February 2019 was at 204.90, January 2019 204.57, March 2018 198.83. Case-Shiller PR link.

***Monday, May 27:

***US Memorial Day.
***Remembering Those Who Died In Battle
So That Our Freedoms
Can Continue To Live.
***US Stock Exchanges Closed.

***Friday, May 24:

The PBRMarketTools US Stock Exchanges Recap for Week 21 of 2019 ending 05/24/19:

DJIA ends week at 25,585.69, -0.69% from last Friday, -3.79% MTD, -1.32% QTD, +9.68% YTD, -4.63% from record 26,828.39 set 10/03/18.

NASDAQ ends week at 7,637.01, -2.29% from last Friday, -5.66% MTD, -1.19% QTD, +15.10% YTD, -6.46% from record 8,164.00 set 05/03/19.

SPX ends week at 2,826.06, -1.17% from last Friday, -4.07% MTD, -0.29% QTD, +12.73% YTD, -4.07% from record 2,945.83 set 04/30/19.

The Week 21 News Summary: The concern over US/China trade continues and currently there is no resolution or end in sight. The US is rattling its saber as it deploys Navy ships near Iran and suggests it might be sending troops to the region in response to Iran’s nuclear program and involvement in terrorism. UK Prime Minister May finally gives in and resigns over her inability to get a Brexit deal. The US economy is starting to show more signs of a growth slowdown. The FOMC minutes from its latest meeting indicate a wait and see attitude towards short term federal funds interest rates. The tech and energy sectors took some heavy hits during the week with Qualcomm getting slammed with an antitrust judgment which it will appeal. Corporate earnings were mixed, with retail chains continuing to struggle as they adapt to an eCommerce world. The Stock Market Bear easily wins Week 21 3-0, its third straight weekly win, taking 3 out of 5 days. The Stock Market Bull seems a little bit dazed, confused, and uncertain, even though it maintains a strong lead year-to-date.

The Week 21 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 5 weeks
Mixed Results: 6 weeks

The Federal Reserve Board in its March 2019 paper Introducing the Distributional Financial Accounts of the United States says on page 26, “In 2018, the top 10% of U.S. households controlled 70 percent of total household wealth, up from 60 percent in 1989. The share of the top 1% of the wealth distribution increased from 23 percent to nearly 32 percent from 1989 to 2018.” USFed PR link.

***Thursday, May 23:

DowDuPont(PBR34) to do 1:3 reverse stock split on 06/01/19, is intended to increase the market price of DowDuPont’s common stock in connection with the company’s intended distribution of all of the shares of common stock of its wholly owned subsidiary, Corteva, Inc, will change name to DuPont de Nemours, Inc., start trading on 06/03/19 as NYSE: DD. $DWDP PR link.

Facebook(PBR55) releases 3rd Community Standards Update, says 5% of monthly accounts are fake, disabled 1.2 billion accounts in 4Q18, 2.19 billion in 1Q19. $FB PR link.

Hartford Financial(PBR157) completes $70/share, $2.2 billion cash acquisition of Stamford, CT, based 30 locations 820 employees globally The Navigators Group(NASDAQ:NAVG), a global specialty underwriter. $HIG PR link.

Freeport-McMoRan(PBR162) to sell its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for around $150 million, to close by end of 4Q19. $FCX PR link.

VF Corp(PBR254) completes spinoff of independent public company Kontoor Brands, will hold VF’s Jeans(Wrangler® and Lee® brands) and VF Outlet businesses in the denim category, trading as NYSE: KTB. $VFC PR link.

YUM!(PBR482)’s Taco Bell unit gets franchise partner Burman Hospitality Private Limited (BHPL) of India to sign Master Franchise Agreement, commits to developing 600 restaurants on the sub-continent in the next 10 years, to employ around 20,000. $YUM PR link.

Mattel(PBR554) extends global licensing agreement with Warner Bros. Consumer Products, will continue to be the toy licensee for DC in the girls, preschool, vehicles, games and novelty toy categories, includes new content for “DC Super Hero Girls.” $MAT PR link.

Dentsply Sirona(PBR601) to move its principal executive offices from York, PA, to Charlotte, NC, builds on reorganization plan to centralize its sales and service infrastructure in Charlotte. $XRAY PR link.

Penn Natl Gaming(PBR678) completes around $300 million cash acquisition of downtown Detroit, MI, operations of Greektown Casino-Hotel, enters into a triple net lease agreement with VICI Properties(NYSE: VICI) with an initial annual rent of approximately $55.6 million and an initial term of 15 years. $PENN PR link.

Navient(PBR963) elects Linda Mills as Chairman, effective 06/06/19 at the annual meeting, to succeed Bill Diefenderfer III who did not stand for re-election to the Board. $NAVI PR link.

The US Dept of Commerce/HUD says US Preliminary April 2019 New Family Home Sales Annual Rate is at 673,000 units, -6.9% from March 2019, +7.0% from April 2018; the April 2019 Median New Home Price is at $342,200, +11.9% from March 2019, +8.8% from April 2018. USDOC PR link.

***Wednesday, May 22:

UPS(PBR40) to purchase 170 million gallon equivalents of renewable natural gas (RNG) through 2026 from Clean Energy Fuels Corp(NASDAQ: CLNE), is the largest commitment for use of RNG to date by any company in the US. $UPS PR link.

Eli Lilly(PBR115)’s Insulin Lispro Injection is now available for a 50% lower list price than its identical medicine, Humalog® U-100. $LLY PR link.

Qualcomm(PBR130 $QCOM) unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees, a US District Court judge ruled in a decision that could challenge the company’s business model and shake up the smartphone industry. In a separate announcement Qualcomm said it will appeal the decision. MarketWatch PR link.

Tesla(PBR139 $TSLA)‘s recent lane changing feature on Navigate on Autopilot update critiqued by Consumer Reports, says it cut off cars without leaving enough space and even passed other cars in ways that violate state laws. Consumer Reports PR link.

MGM Resorts(PBR255 $MGM) breaks off talks to buy Wynn Resorts(PBR429) $2.6 billion Encore Boston casino, only allowed one casino in state of Massachussets, Wynn to complete construction and operate the facility. MarketWatch PR link.

Sempra Energy(PBR258) in final stages of agreement with largest oil & gas company in the world, Saudi Aramco, for 20-year liquefied natural gas (LNG) sale-and-purchase agreement for 5 million tonnes per annum from its Phase 1 Port Arthur, TX, LNG export project. $SRE PR link.

Avon Products(PBR486) to be acquired by Brazil based Natura &Co (B3: NATU3) for an enterprise value of about $3.7 billion, will create a beauty products company with 40,000+ associates in 100 countries and $10 billion in annual sales, to close in early 2020. $AVP PR link.

The Federal Open Market Committee releases the Minutes for the 04/30-05/01/19 meeting. “… The projection for U.S. economic activity … was revised up on net. Real GDP growth was forecast to slow in the near term from its solid first-quarter pace, as sizable contributions from inventory investment and net exports were not expected to persist. The projection for real GDP growth over the medium term was revised up, primarily reflecting a lower assumed path for interest rates, a slightly higher trajectory for equity prices, and somewhat less appreciation of the broad real dollar….” FOMC PR link.

***Tuesday, May 21:

Alphabet(PBR15)’s Google unit has suspended business with China based Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing per US directive blacklisting Huawei. $GOOG PR link.

Kroger(PBR20) announces an exclusive grocery retail partnership agreement in the US with TerraCycle‘s circular e-commerce platform Loop, advancing Kroger’s zero-waste vision by reducing single-use plastics in the environment. $KR PR link.

Merck(PBR70) to acquire privately held cancer therapies developer Peloton Therapeutics for upfront payment of $1.05 billion plus up to $1.15 billion for milestone achievements, to close in 3Q19. $MRK PR link.

Tesla(PBR139 $TSLA) cuts Model S price by $3,000, now starts at $71,250, Model X price by $2,000, starts at $71,950, decreases offset price increases from a month ago when Tesla offered longer battery range and added a new drive system and suspension; Model 3 price was raised by $400 last week, now starts at $35,400.MarketWatch PR link.

Tesla(PBR139) CEO Elon Musk exercises option, acquires 175,000 common shares at $31.17/share, now has 34.1+ million common shares, 5.1 million from derivatives. $TSLA PR link.

Kohl’s(PBR154) announces a new collaboration with globally-renowned designer Jason Wu to create an exclusive, limited-edition women’s apparel capsule at Kohl’s stores and Kohls.com this holiday season, to be available in 11/19. $KSS PR link.

Arthur J Gallagher(PBR445) has acquired Parsippany, NJ-based RPA Insurance Services and Innovative Coverage Concepts, provides insurance and risk management services to the Restaurant and Hospitality industry, terms not disclosed. $AJG PR link.

Brunswick(PBR513) completes acquisition of 20,000+ members, nearly 2,200 boat fleet, 170 locations in the US, Canada and Europe Freedom Boat Club, terms not disclosed. $BC PR link.

Urban Outfitters(PBR626) to launch during summer 2019 Nuuly, a women’s apparel, monthly subscription rental service of its own brands, third party labels and one-of-a-kind vintage pieces, $88/month for one 6 item box valued at around $800 retail, includes option to buy. $URBN PR link.

Crane(PBR741) presents unsolicited proposal to acquire Circor International(NYSE: CIR) for $45.00/share cash, a 47% premium over the closing price on 05/20/19, an enterprise value of about $1.7 billion; previous offer presented on 04/30/19 had been rejected. $CR PR link.

Express(PBR861) hires Tim Baxter as CEO, effective 06/17/19, will succeed Interim CEO Matthew Moellering who will remain EVP/COO. $EXPR PR link.

The Natl Assn of Realtors says US Preliminary April 2019 Existing Home Sales Annual Rate is at 5,190,000 homes, -0.4% from March 2019, -4.4% from April 2018; the April 2019 Median Sales Price was at $267,300, +3.0% from March 2019, +3.6% from April 2018; April 2019 Median Time on Market was 24 days, March 2019 was 36 days, April 2018 26 days. NAR PR link.

***Monday, May 20:

Ford(PBR12 $F) to eliminate around 7,000 global salaried positions, about 10% of its workforce, by 08/31/19 as part of its Smart Redesign program. Automotive News PR link.

TMobile(PBR68) and Sprint(PBR85) agree to concessions, $59 billion all stock merger gets letter of approval from US Federal Communications Commission Chairman Ajit Pai, additional regulatory approvals needed to close transaction. $TMUS PR link.

Arconic(PBR222) authorizes an additional $500 billion for its $1 billion share repurchase program, has completed a $700 million accelerated share repurchase in April 2019, authorized a $200 million accelerated share repurchase on 05/02/19, balance available is now $600 million. $ARNC PR link.

DISH(PBR227) to acquire Echostar(PBR890)’s Broadcast Satellite Service (BSS) Businessfor 22.9 million DISH shares, around $800 million, to close in 2H19. $DISH PR link.

Ascena Retail(PBR436) to commence a wind down of Dressbarn’s operations. $ASNA PR link.

Tetra Tech(PBR712) to acquire UK-based 30 locations globally 1,600 employees consulting and engineering firm focused on water, environment and infrastructure services WYG plc(LSE: WYG) for 55 pence/share. $TTEK PR link.

Varian Medical(PBR716) to acquire privately held $43.5 million in revenues in FY19 university-level, comprehensive treatment for cancer patients provider Cancer Treatment Services International for $283 million, to close in around 2 weeks. $VAR PR link.

Marvell Technology(PBR809) to acquire Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GLOBALFOUNDRIES, for $650 million plus up to an additional $90 million for milestone achievements. $MRVL PR link.

Legg Mason(PBR688) increases Board from 10 to 12 members, appoints activist investor firm Trian Fund co-founders Nelson Peltz and Ed Garden to the Board, will add another director at annual meeting, Trian currently has a 4.5% stake in the company. $LM PR link.

The Federal Reserve Bank of Chicago says the US Preliminary April 2019 National Activity Index is at -0.45, March 2019 was at +0.05, February 2019 -0.57, April 2018 +0.42. ChiFed PR link.

***Friday, May 17:

The PBRMarketTools US Stock Exchanges Recap for Week 20 of 2019 ending 05/17/19:

DJIA ends week at 25,764.00, -0.69% from last Friday, -3.12% MTD, -0.64% QTD, +10.44% YTD, -3.97% from record 26,828.39 set 10/03/18.

NASDAQ ends week at 7,816.28, -1.27% from last Friday, -3.45% MTD, +1.13% QTD, +17.80% YTD, -4.26% from record 8,164.00 set 05/03/19.

SPX ends week at 2,859.53, -0.76% from last Friday, -2.93% MTD, +0.89% QTD, +14.07% YTD, -2.93% from record 2,945.83 set 04/30/19.

The Week 20 News Summary: As in past weeks US/China trade negotiations continue to draw the most attention, new tariffs have gone into effect, and it is difficult to ascertain when issues will be resolved and how long the tariffs will be in effect. Economic news was mostly good. Corporate earnings were mostly positive. The Stock Market Bear viciously took a huge chunk out of the markets on Monday, but The Stock Market Bull arrived and nearly retook the lead after 3 days. The Stock Market Bear returned on Friday, took Week 20 with a 3-0 record and his second week in a row outright victory.

The Week 20 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 4 weeks
Mixed Results: 6 weeks

Amazon(PBR5 $AMZN) is lead investor in $575 million funding round for UK delivery service Deliveroo. Deliveroo PR link.

Hewlett Packard Enterprises(PBR96) to acquire acquire Cray(NASDAQ: CRAY) for $35.00 per share in cash, around $1.3 billion, net of cash, to close by 01/31/20. $HPE PR link.

Tesla(PBR139 $TSLA) gets notice by the Natl Transportation Safety Board saying that in the Tesla Model 3 fatal accident with a semi-trailer on 03/01/19 in Florida the autopilot system was operating for 10 seconds before the crash. Transport Topics PR link.

Tesla(PBR139) completes $218 million acquisition of developer and manufacturer of ultracapacitors applied to the manufacturing of batteries Maxwell Technologies(NASDAQ: MXWL). $TSLA PR link.

Live Nation(PBR279) has acquired Los Angeles, CA-based venue operator and 1,200+ concerts/year promoter Spaceland Presents, terms not disclosed. $LYV PR link.

Brunswick(PBR513) to acquire 20,000+ members, nearly 2,200 boat fleet, 170 locations in the US, Canada and Europe Freedom Boat Club, to close in 2Q19, terms not disclosed. $BC PR link.

The Conference Board says the US Preliminary April 2019 Leading Economic Index(2016=100) is at 112.1, March 2019 was at 111.9, February 111.6. “Third Consecutive Increase; Economic Expansion to Continue in Near Term.” TCB PR link.

The U of Michigan Preliminary May 2019 Consumer Sentiment Index is at 102.4, April 2019 was at 97.2, March 2019 98.4, May 2018 98.0. “Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004. The gains were recorded mostly before the trade negotiations with China collapsed and China responded with their own tariffs.” UMichigan PR link.

***Thursday, May 16:

Microsoft(PBR25) and Sony Corporationagree to partner on new innovations to enhance customer experiences in their direct-to-consumer entertainment platforms and AI solutions. $MSFT PR link.

Goldman Sachs(PBR82) to acquire $25 billion of assets under management and over 220 financial advisors serving 22,000 clients in over 90 offices across the US United Capital Financial Partners for $750 million in cash, to close in 3Q19. $GS PR link.

PG&E(PBR176) issues statement saying CAL FIRE has determined that PG&E electrical transmission lines near Pulga were a cause of the Camp Fire, accepts this determination, will continue to cooperate with all agencies involved. $PCG PR link.

Ingersoll-Rand(PBR196) completes $1.45 billion acquisition of $400 million in revenues in 2018, 1,000 employees, 7 global manufacturing locations, fluid management systems with world class brands including Milton Roy®, LMI®, Haskel®, BuTech®, Dosatron®, YZ Systems®, Williams® and Hartell® provider Precision Flow Systems from funds advised by BC Partners Advisors L.P. and The Carlyle Group(PBR616). $IR PR link.

MGM Resorts(PBR254) in 1Q19 report says it expects to be liable for up to $800 million for the 10/01/17 mass shooting at the Mandalay Bay in Las Vegas, $751 million to be covered by insurance. $MGM PR link.

PulteGroup(PBR336) adds $500 million to share repurchase program, balance available is now $762 million. $PHM PR link.

Colfax(PBR668) to sell its Air and Gas Handling business to KPS Capital Partners for an enterprise value of $1.80 billion, to close in 2H19. $CFX PR link.

Chico’s FAS(PBR830) Board unanimously rejects unsolicited proposal to be acquired by Sycamore Partners for $3.50/share, says proposal substantially undervalues Chico’s FAS. $CHS PR link.

Fred’s(PBR907) to close 104 underperforming stores in the Southeast US, liquidation sales to start today, closures to by completed by 06/30/19. $FRED PR link.

Fluor(PBR155) names Interim CEO Carlos Hernandez as CEO and appoints him to the Board. $FLR PR link.

The US Dept of Commerce/HUD says US Preliminary April 2019 New Residential Construction Private Housing Building Permits Issued Annual Rate was at 1,296,000, +0.6% from March 2019, -5.0% from April 2018. USDOC PR link.

The Federal Reserve Bank of Philadelphiasays the 3rd District May 2019 Manufacturing General Activity Index is at +16.6, April 2019 was at +8.5, March 2019 +13.7, May 2018 +32.3. “Responses … suggest continued growth for the region’s manufacturing sector… The firms continued to be cautiously optimistic about growth over the next six months.” PhillyFed PR link.

***Wednesday, May 15:

Amazon(PBR5 $AMZN) breaks ground on $1.5 billion air services hub at the Cincinnati/Northern Kentucky International Airport, to open by 2021, employ 2,000. Cincinnati Business Courier PR link.

Bank of America(PBR24) raises minimum hourly wage to $17, to be $20 by 05/21. $BAC PR link.

WellTower(PBR538) completes $1.25 billion acquisition of Class A medical office and outpatient facilities portfolio comprised of 55 buildings from CNL Healthcare Properties. $WELL PR link.

The US Federal Reserve says that US Preliminary April 2019 Total Manufacturing Capacity Utilization is at 77.9%, March 2019 was at 78.5%, February 2019 78.5%, April 2018 78.2%, Growth Over Previous Year is at +2.0%. USFed PR link.

The US Dept of Commerce/Census says US Preliminary March 2019 Manufacturing Saleswere at $509.7 billion, Retail $453.0 billion, Wholesalers $507.4 billion, Total Sales $1.470 trillion, +1.6% from February 2019, +3.7% from March 2018. USDOC PR link.

The US Dept of Commerce/Census says US Advance April 2019 Retail Sales were at $451.9 billion, Food Services & Drinking Places $61.5 billion, Total Retail Sales $513.4 billion, -0.2% from March 2019, +3.1% from April 2018. USDOC PR link.

The Federal Reserve Bank of New York says the Empire State May 2019 Manufacturing General Business Conditions Index is at +17.8, April 2019 was at +10.1, March 2019 +3.7, May 2018 +20.6. NYFed PR link.

The Natl Assn of Home Builders says the US May 2019 Housing Market Composite Index is at 66, April 2019 was at 63, March 2019 62, May 2018 70. NAHB PR link.

***Tuesday, May 14:

Walmart(PBR1) is rolling out a no member fee free NextDay delivery service from its eCommerce site, starting in Phoenix and Las Vegas, then Southern California, to be available to 75% of US population by end of year. $WMT PR link.

Walt Disney(PBR51) will assume full operational control of Hulu in agreement with Comcast(PBR32 $CMCSA), includes option to buy Comcast interest as early as 2024 for minimum equity value of $27.5 billion. $DIS PR link.

NGL Energy(PBR170) to acquire all of the assets of Mesquite Disposals Unlimited for approximately $890 million on a cash-free, debt-free basis and combine them with NGL’s Water Solutions business, to close in 07/19. $NGL PR link.

The US Dept of Labor says US Preliminary April 2019 Import Prices were +0.2%, March 2019 was +0.6%, February 2019 +1.0%, April 2018 +0.5%, Year-To-Year -0.2%; April 2019 Export Prices were +0.2%, March 2019 +0.6%, February 2019 +0.7%, April 2018 +0.5%, Year-To-Year +0.3%. USDOL PR link.

CoreLogic says the US February 2019 Home Mortgages 30 or More Days Delinquent was at 4.0%, January 2019 was 4.0%, December 2018 4.1%, February 2018 4.8%. “The persistently impressive economic expansion continues to drive down housing market distress, with delinquencies and foreclosures hitting near two-decade lows… the future of U.S. housing and mortgage markets look bright even if short term indicators suggest cooling.” CoreLogic PR link.

***Monday, May 13:

Apple(PBR3 $AAPL) can be sued by iPhone owners because Apple Store is a monopolistic retailer for iPhone apps, says the US Supreme Court in a 5-4 opinion. SCOTUS PR link.

Amazon(PBR5) to expand its US Delivery Service Partner program through its current employees, commits to funding startup costs, up to $10,000, and the equivalent of the former employee’s gross salary for three months to start their own delivery business. $AMZN PR link.

Facebook(PBR55) raising minimum wage for contractors from $15/hour to $20/hour in San Francisco Bay area, New York City, Washington DC, and $18/hour in Seattle, to be implemented by mid 2020, content reviewers minimums to be raised up to $22/hour. $FB PR link.

Discovery(PBR287) has acquired 4.8 million readers, 4.8 million digital uniques per month Golf Digest, an official marketing partner of the PGA TOUR since 2006, from Condé Nast, terms not disclosed. $DISCA PR link.

Bristow Group(PBR959) files voluntary Chapter 11 Bankruptcy, obtained $75 million in new financing and receives commitment for an additional $75 million Debtor-In-Possession financing. $BRS PR link.

GoPro(PBR994) moving US bound production from China to Guadalajara, Mexico, in 06/19, non-US production to remain in China. $GPRO PR link.

Bed Bath & Beyond(PBR246) CEO Steve Temares has stepped down and resigned from the Board, Board member Mary Winston appointed Interim CEO, effective immediately, CEO search committee formed. $BBBY PR link.

Lincoln Electric(PBR767) former Chairman/President/CEO John M. Stropki, Jr., passes away, was with company 41 years, was 7th CEO from 2004 to 2012. $LECO PR link.

Avista(PBR958) Chairman/CEO Scott L. Morris to retire, effective 03/01/20, President Dennis P. Vermillion elected CEO effective 10/01/19, Morris to remain Executive Chairman until retirement. $AVA PR link.

The People’s Republic of China increases tariffs up to 25% on $60 billion of US imports. PRC PR link.

***Friday, May 10:

The PBRMarketTools US Stock Exchanges Recap for Week 19 of 2019 ending 05/10/19:

DJIA ends week at 25,942.37, -2.12% from last Friday, -2.45% MTD, +0.05% QTD, +11.21% YTD, -3.30% from record 26,828.39 set 10/03/18.

NASDAQ ends week at 7,916.94, -3.03% from last Friday, -2.20% MTD, +2.43% QTD, +19.32% YTD, -3.03% from record 8,164.00 set 05/03/19.

SPX ends week at 2,881.40, -2.18% from last Friday, -2.19% MTD, +1.66% QTD, +14.94% YTD, -2.19% from record 2,945.83 set 04/30/19.

The Week 19 News Summary: It was another week of political issues affecting the stock markets. The US/China trade negotiations had the primary impact, with China changing some critical verbage. US President Trump responded by imposing the additional tariffs he initially threatened for March 1st. Sanctions on Iran added some more ammunition. Quarterly corporate earnings continued to be mostly mixed. Boeing‘s issues with its 737 MAX had a big impact. The overall US economy continues to be good, but not quite as strong. Job openings were at record levels, the Consumer Price Index indicated that inflation is still low.The Stock Market Bull takes a rest and The Stock Market Bear viciously charges in to get its first 3-0 overwhelming victory since Week 12.

The Week 19 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 3 weeks
Mixed Results: 6 weeks

Buckeye Partners(PBR623) agrees to be acquired by IFM Investors for $41.50/share cash, valued at $10.3 billion enterprise value and $6.5 billion equity value, to close 4Q19. $BPL PR link.

Chico’s FAS(PBR830) to review an unsolicited proposal to be acquired by Sycamore Partnersfor $3.50/share, had previously rejected a Sycamore Partners proposal for $4.30/share. $CHS PR link.

NuStar(PBR902) to sell its storage terminal facility located at St. Eustatius in the Caribbean to Prostar Capital for approximately $250 million, to close by late 2Q19. $NS PR link.

The US Dept of Treasury says US April 2019 Federal Government Receipts were at $535.5 billion, Outlays $375.2 billion, for a Surplus of $160.3 billion, April 2018 was a Surplus of $214.3 billion; YTD(7 months) Receipts are $2.043 trillion, YTD Outlays $2.574 trillion, for a YTD Deficit of $530.9 billion, April 2018 YTD Deficit was $385.4 billion. USTreasury PR link.

The US Dept of Labor says the US April 2019 Consumer Price Index-All Items was at +0.3%, March 2019 was at +0.4%, February 2019+0.2%, April 2018 +0.2%, Last 12 Months(Unadjusted) is at +2.9%. USDOL PR link.

The US Dept of Labor says US Preliminary April 2019 Current Average Earnings/Hourwere at $27.77, Average Hours Worked/Weekwas at 34.4, Total Average Current Weekly Earnings were at $955.29, -0.1% from March 2019, +2.9% from April 2018. USDOL PR link.

***Thursday, May 9:

The April 2019 Snapshot 13 Summary: The PBR1000 Top 5 Since 12/29/17(16 months) Performers(Rank, Company, PBR1000 Ranking by Revenues, Stock Symbol, 04/30/19 Stock Price, % Increase from 12/29/17):

1. AMD, PBR489, $AMD, $27.63, +169%
2. BlueLinx, PBR900, $BXC, $25.72, +164%
3.Chipotle, PBR536, $CMG, $688.04, +138%
4. Rent-A-Center, PBR755, $RCII, $24.93, +125%
5. Crocs, PBR1000, $CROX, $27.85, +120%

Range: +169% to -97%
Number of Companies at 0% or Better:494/998
Average: +6.20%
Median: -0.44%%
DJIA: +7.58%
NASDAQ: +17.27%
SPX: +10.18%

Tomorrow: The PBRMarketTools US Weekly Stock Exchanges Recap.

Chevron(PBR11) will not make a counterproposal to acquire Anadarko(PBR231), Anadarko required to to pay $1 billion termination fee, Chevron to increase its share repurchase program 25% to $5 billion/year. $CVX PR link.

Synchrony Financial(PBR165) approves up to $4 billion share repurchase program. $SYF PR link.

Anadarko(PBR231) agrees to be acquired by Occidental Petroleum(PBR158) for $76.00/share comprised of $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko(PBR231) common stock, around $38 billion deal, to close 2H19, has paid $1 billion merger termination fee to Chevron(PBR11). $APC PR link.

Boston Scientific(PBR306) to acquire privately-held Superion® Indirect Decompression System developer Vertiflex for $465 million plus additional milestones achieved payments, anticipates $60 million in revenues in 2019, to close late 2Q19. $BSX PR link.

Tractor Supply(PBR369) increases existing share repurchase program by $1.5 billion, balance is around $1.9 billion. $TSCO PR link.

Tapestry(PBR469) authorizes up to $1 billion share repurchase program. $TPR PR link.

Western Union(PBR478) completes sale of its Speedpay US domestic bill pay business to ACI Worldwide for approximately $750 million cash. $WU PR link.

Perrigo(PBR509) to acquire privately-held largest private label oral care company globally with 650 employees and $287 million in revenues in 2018 Ranir Global Holdings in a transaction valued at $750 million, to close in 3Q19. $PRGO PR link.

Party City(PBR808) announces new source of helium contract for next 2 1/2 years, to close 45 of its 870 locations throughout 2019. $PRTY PR link.

Allison Transmission(PBR836) acquires nearly 5 million shares from Ashe Capital Management, authorizes additional $1 billion for its share repurchase program, total authorized now $3 billion. $ALSN PR link.

Edgewell Personal Care(PBR843) to acquire New York, NY-based 900 employees razor products provider Harry’s in a cash/stock transaction, values Harry’s at $1.37 billion, to close by 1Q20 end. $EPC PR link.

Old Republic Intl(PBR465) Chairman/CEO Aldo Zucaro to retire as CEO after 25 years, will remain Chairman, President/COO Craig Smiddy to become President/CEO, effective 10/01/19. $ORI PR link.

Symantec(PBR519) President/CEO and Board member Greg Clark steps down, effective immediately, Board member Rick Hill appointed Interim President/CEO, new CEO search starts. $SYMC PR link.

The US Dept of Labor says US Preliminary April 2019 Producer Price Index Total Monthly Final Demand is +0.2%, March 2019 was +0.6%, February 2019 +0.1%, April 2018+0.1%; April 2019 Last 12 Months Total Demand is at +2.2%, March 2019 was at +2.0%, February 2019 +2.3%, April 2018+2.6%. USDOL PR link.

The US Dept of Commerce/Census says US Preliminary March 2019 Wholesale Sales-Durable Goods was at $245.0 billion, Non-Durable Goods $262.4 billion, Total $507.4 billion, +2.3% from February 2019, +3.9% from March 2018. USDOC PR link.

The US Dept of Commerce says US March 2019 Total Exports-Goods were at $141.7 billion, Services $70.3 billion, Total Exports$212.0 billion, March 2019 Total Imports-Goods were at $214.1 billion, Services $47.8 billion, Total Imports $261.9, Total March 2019 Trade Deficit $49.9 billion, March 2019 Total Deficit YTD(3 Months) is at $150.4 billion, March 2018 Total Deficit YTD was at $156.3 billion. USDOC PR link.

***Wednesday, May 8:

The April 2019 Snapshot 12 Summary: The PBR1000 Top 5 YTD(4 months) Performers(Rank, Company, PBR1000 Ranking by Revenues, Stock Symbol, 04/30/19 Stock Price, % Increase from 12/31/18):

1. Diebold Nixdorf, PBR529, $DBD, $10.09, +305%
2. Pier 1 Imports, PBR908, $PIR, $0.91, +194%
3. Sears Holdings, PBR178, $SHLDQ, $0.69, +156%
4. iHeartMedia, PBR439, $IHRGQ, $1.07, +143%
5. FannieMae, PBR21, $FNMA, $2.48, +134%

Range: +305% to -85%
Number of Companies at 0% or Better:874/999
Average: +18.83%
Median: +17.83%
DJIA: +14.00%
NASDAQ: +22.01%
SPX: +17.51%

Tomorrow: The PBR1000 Top 5 Stock Performers since 12/29/17(16 months).

General Motors(PBR13) in discussions with Workhorse Group(NASDAQ: WKHS) and an affiliated, newly formed entity to sell the company’s Lordstown Complex in Lordstown, OH, Workhorse would hold a minority interest in the new entity. $GM PR link.

Fox Corp(PBR299)’s Sports unit and Stars Group to launch FOX Bet, the first-of-its kind national media and sports wagering partnership in the US. $FOX PR link.

United Rentals(PBR360) President/COO Matthew Flannery becomes President/CEO, succeeds CEO Michael Kneeland who is now Chairman of the Board. $URI PR link.

MDU Resources(PBR541) Vice Chairman Dennis W. Johnson becomes Chairman, succeeds Harry J. Pearce who did not stand for re-election to the Board. $MDU PR link.

***Tuesday, May 7:

The April 2019 Snapshot 11 Summary: The PBR1000 Top 5 Month Performers(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 04/30/19 Stock Price, % Increase from 03/29/19):

1. Anadarko, PBR231, $APC, $72.85, +60%
2. Qualcomm, PBR130, $QCOM, $86.13, +51%
3. Frontier Communications, PBR333, $FTR, $2.85, +43%
4. Hovnanian, PBR875, $HOV, $15.22, +39%
5. Sonic Auto, PBR303, $SAH, $20.23, +37%

Range: +60% to -54%
Number of Companies at 0% or Better:718/1,000
Average: +3.99%
Median: +3.64%
DJIA: +2.56%
NASDAQ: +4.74%
SPX: +3.93%

Tomorrow: The PBR1000 Top 5 Stock Performers Since 12/31/18(4 Months).

Walmart(PBR1) introduces its first online pet pharmacy for prescription medications; to offer a more wholesome assortment of pet foods; and is expanding in-store veterinary clinics. $WMT PR link.

General Motors(PBR13 $GM) driverless car Cruise unit gets $1.5 billion in investments led by T Rowe Price(PBR518), values unit at $19 billion. MarketWatch PR link.

Alphabet(PBR15)’s Waymo unit deploy 10 Waymo vehicles in Phoenix on Lyft over the next few months. $GOOG PR link.

DowDuPont(PBR34) spin-off of Corteva Agriscience as an independent public company to be effective 06/01/19, to begin trading the regular way as NYSE: CTVA on 06/03/19. $DWDP PR link.

Tesla(PBR139) CEO Elon Musk purchased $25 million of Tesla common stock at $243.00/share on 05/02/19 per SEC filing. $TSLA PR link.

Anadarko(PBR231) Board determines revised proposal from Occidental Petroleum(PBR158 $OXY) constitutes a “Superior Proposal” to the Chevron(PBR11 $CVX) Merger Agreement, Chevron can make a counter proposal, Anadarko would pay Chevron a $1 billion termination fee if it cancels the agreement. $APC PR link.

AMD(PBR437) in collaboration with the US Dept of Energy, Oak Ridge National Laboratory and Cray to develop what is expected to be the world’s fastest exascale-class supercomputer, scheduled to be delivered to ORNL in 2021. $AMD PR link.

WABCO(PBR668) sets 06/27/19 for special stockholders meeting to vote on acquisition by privately held global leader in driveline and chassis technologies ZF Friedrichshafen AG for $136.50/share, equity value of $7+ billion. $WBC PR link.

Bristow Group(PBR959) gets notified by the New York Stock Exchange of its noncompliance with continued listing standards because the average closing price of its common stock over a prior 30 consecutive trading day period had fallen below $1.00 per share, has 6 months to get back in compliance. $BRS PR link.

The US Federal Reserve says US Preliminary March 2019 Consumer Credit Outstanding-Revolving was at $1.057 trillion, Non-Revolving$2.995 trillion, Total $4.052 trillion, +0.3% from February 2019, +1.1% YTD(3 months), +4.9% from March 2018. USFed PR link.

The US Dept of Labor says US Preliminary March 2019 Job Openings-Private was at 6,800,000, Government 688,000, Total7,488,000, +4.8% from February 2019, +8.6% from March 2018. USDOL PR link.

FannieMae(PBR21) says the US April 2019 Home Purchase Sentiment Index is at 88.3, March 2019 was at 89.8, February 2019 84.3, April 2018 91.7. “… increasing expectations among consumers that mortgage rates will continue to be favorable for some time will likely gain additional support following last week’s Fed meeting – and may also be reducing their urgency to buy.” $FNMA PR link.

The PurdueU/CME US April 2019 Ag Barometer was at 115, March 2019 was at 133, February 2019 136, April 2018 125. “Weakening perceptions of both current economic conditions and expectations for the future drove the index lower.” PurdueU/CME PR link.

***Monday, May 6:

Kraft Heinz(PBR107) to restate annual financial statements for 2016 and 2017 and quarterly statements through 09/18 per investigation by its audit committee. $KHC PR link.

Occidental Petroleum(PBR158) presents revised proposal to acquire Anadarko(PBR231), $76.00/share comprised of $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko(PBR231) common stock, still around a $38 billion deal with more cash. $OXY PR link.

Occidental Petroleum(PBR158) to sell Anadarko(PBR231)’s Algeria, Ghana, Mozambique and South Africa assets to Total SA(NYSE: TOT) for $8.8 billion contingent upon Occidental completing its acquisition of Anadarko. $OXY PR link.

Ascena Retail(PBR428) completes sale of majority interest in its subsidiary, Maurices Incto an affiliate of OpCapita for $300 million. $ASNA PR link.

Brunswick(PBR534) to sell its Fitness business to private investment firm KPS Capital Partners for around $490 million cash. $BC PR link.

Park Hotels(PBR736) to acquire upper-upscale 20 hotels with an aggregate of 6,288 rooms in eight states and the District of Columbia Chesapeake Lodging Trust(NYSE:CHSP) for $31.00/share, $2.7 billion cash and stock, to close 2H19. $PK PR link.

Sinclair Broadcast(PBR748) to acquire $3.8 billion in 2018 revenues from 74 million subscribers 21 regional sports networks, and Fox College Sports, from Walt Disney(PBR51)at a valuation of $10.6 billion. $SBGI PR link.

Affiliated Managers Group(PBR828)President/CFO Jay Horgen to become President/CEO effective after annual shareholders meeting, current CEO Nathanial Dalton to become Senior Advisor and remain on the Board. $AMG PR link.

US/China Trade: US President Trump tweets he will increase tariffs from 10% to 25% on $200 billion in Chinese produced goods effective Friday, 05/10/19, unless trade negotiations speed up. MarketWatch PR link.

***Friday, May 3:

The PBRMarketTools US Stock Exchanges Recap for Week 18 of 2019 ending 05/03/19:

DJIA ends week at 26,504.95, -0.14% from last Friday, -0.33% MTD, +2.22% QTD, +13.62% YTD, -1.21% from record 26,828.39 set 10/03/18.

NASDAQ ends week at record 8,164.00, +0.22% from last Friday, +0.85% MTD, +5.62% QTD, +23.04% YTD, +0.00% from record 8,164.00 set 05/03/19.

SPX ends week at 2,945.64, +0.20% from last Friday, -0.01% MTD, +3.92% QTD, +17.50% YTD, -0.01% from record 2,945.83 set 04/30/19.

The Week 18 News Summary: It was another week of mixed corporate earnings reports. The Federal Open Market Committee kept the short term federal funds interest rate at 2.25-2.50%, despite some political pressure to lower it. The jobs reports were more robust than anticipated. US/China trade negotiations continued but progress was difficult to ascertain. The Stock Market Bear took advantage of the FOMC report and appeared to have a lock on his first win since Week 12, but with the jobs report, The Stock Market Bull took charge to win Week 18 with his 4th in a row 2-1 mixed result.

The Week 18 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 6 weeks

ExxonMobil(PBR2) gets Guyana government and regulatory approvals for Liza Phase 2, remains on track for mid-2022, producing up to 220,000 barrels of oil per day, Liza 1 on track to achieve first oil by 1Q20, will produce up to 120,000 barrels of oil per day at peak rates, Exxon is 45% partner in project, Hess(PBR482)30%. $XOM PR link.

Marriott Intl(PBR146) President/CEO Arne Sorenson diagnosed with stage 2 pancreatic cancer, to start chemotheraphy treatments next week, anticipates surgery by year end, will remain in his role during treatments. $MAR PR link.

The US Dept of Labor says US April 2019 Total Civilian Force Employed is at 156,645,000, -103,000 from March 2019, +1,429,000 from April 2018, Unemployed at 5,825,000, -387,000 from March 2019, -510,000 from April 2018, Unemployment Rate is at 3.6%, was 3.9% in April 2018. USDOL PR link.

The Institute for Supply Management says the US April 2019 Non-Manufacturing Index(>50%=Economy Growing) is at 55.5%, March 2019 was at 56.1%, February 2019 59.7%, April 2018 57.2%. “… The non-manufacturing sector has experienced an uptick in business activity, but in general, there has been a leveling off. Respondents are still mostly optimistic about overall business conditions, but concerns remain about employment resources.” ISM PR link.

IHS Markit says the US April 2019 Composite PMI Output Index is at 53.0, March 2019 was at 54.6, February 2019 55.5, April 2018 54.9. “… business optimism about the year ahead has slumped to its lowest since mid-2016, reflecting widespread reports from companies that weaker economic growth will likely further dampen business activity in coming months.” IHS Markit PR link.

***Thursday, May 2:

ExxonMobil(PBR2) to proceed with a $2 billion investment to expand its Baytown, TX chemical plant, will create approximately 2,000 jobs during construction and contribute to the approximate 15 percent return the company expects from its chemical investments. $XOM PR link.

McKesson(PBR7) in settlement agreement to pay $14.5 million to the State of West Virginiathis year and an additional $4.5 million per year for the next five years with the funds to be used in support of state initiatives to combat the opioid epidemic, including rehabilitation, job training, mental health and other important efforts. $MCK PR link.

3M(PBR89) to acquire global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand $1.5 billion in sales in 2018 Acelity from a consortium of Apax Partners for $6.7 billion, includes debt, to close in 2H19. $MMM PR link.

Tesla(PBR139) announces offerings of $650 million of common stock and $1,350 million aggregate principal amount of convertible senior notes due in 2024 in concurrent underwritten registered public offerings, also granted the underwriters a 30-day option to purchase up to an additional 15% of each offering, CEO Elon Musk will participate by purchasing $10 million of common stock. $TSLA PR link.

Booking(PBR210) to acquire Washington DC-based SaaS technology guest management platform for restaurants and other businesses developer Venga, will align closely with Booking Holdings’ brand OpenTable to further improve offerings for its 51,000+ restaurant partners, terms not disclosed. $BKNG PR link.

Post Holdings(PBR444) to acquire the private label ready-to-eat (“RTE”) $260 million in 2018 revenues cereal business of TreeHouse Foods(PBR461), to close in 3Q19, terms not disclosed. $POST PR link.

Bemis(PBR579) shareholders approve $57.75/share, $6.8 billion all stock transaction acquisition by Australia based Amcor Limited (ASX: AMC), to close around 05/15/19. $BMS PR link.

ITT Corp(PBR778) completes around $91 million acquisition of designer and manufacturer of centrifugal and axial flow pumps with around $69 million in sales in 2018 Rheinhütte Pumpen Group from Aliaxis Group SA. $ITT PR link.

Fluor(PBR155) CEO David T. Seaton steps down and no longer a member of the Board, will help with transition, was with company 34 years, former Chairman/CEO Alan L. Boeckmann named Executive Chairman, Chief Legal Officer/Secretary Carlos M. Hernandez named Interim CEO. $FLR PR link.

Church & Dwight(PBR605) President/CEO Matthew Farrell to add Chairman role after 2019 annual meeting, current Chairman James R. Craigie to remain on the Board. $CHD PR link.

The US Dept of Labor says US Preliminary 1Q19 Business Sector Labor Productivity Output/Hour was +3.7%, 4Q18 was at +1.2%, 3Q18 +1.5%, 1Q18 +0.9%. USDOL PR link.

The US Dept of Commerce/Census says US Preliminary March 2019 Manufacturers New Orders-Durable Goods was at $258.0 billion, Non-Durable Goods $250.2 billion, Total$508.2 billion, +1.9% from February 2019, +2.0% from March 2018, Total Year-To-Date(3 Months) $1.507 trillion, +2.6% from March 2018. USDOC PR link.

***Wednesday, May 1:

Chevron(PBR11) USA affiliate completes $350 million acquisition from Petrobas of the 466 acre complex Pasadena Refining System, includes the refinery in Texas and PRSI Trading. $CVX PR link.

Thermo-Fisher Scientific(PBR118) completes $1.7 billion cash acquisition of nearly 600 employees in Massachussets and Florida and anticipated 2019 revenues of $250 million viral vector manufacturing for gene and cell therapies provider Brammer Bio. $TMO PR link.

Newell Brands(PBR328) completes sale of its $640 million in sales in 2018 custom-designed plastic, nylons, monofilament, and zinc products manufacturer Process Solutions business to One Rock Capital Partners for $500 million after tax, and sale of its $123 million in sales in 2018 Rainbow® indoor environments products developer and manufacturer Rexair to global private equity firm Rhone Capital, to receive approximately $735 million of after-tax proceeds from these deals. $NWL PR link.

Sealed Air(PBR538) to acquire Streetsboro, OH-based 1,200 employees $290 million in 2018 sales automated bagging systems manufacturer Automated Packaging Systems for $510 million, to close in early 3Q19. $SEE PR link.

Ascena Retail(PBR428) Chairman/CEO David Jaffe retires, effective immediately, remains on the Board, President/CEO ascena brands Gary Muto named company CEO, Carrie Teffner named Interim Executive Chair. $ASNA PR link.

ServiceMaster(PBR719) appoints Naren Gursahaney as Chairman, succeeds Mark Tomkins who remains on the Board. $SERV PR link.

The US Federal Open Market Committeeissues statement saying it is keeping the short term federal funds rate at 2.25-2.50%. “… the labor market remains strong and that economic activity rose at a solid rate…” FOMC PR link.

The US Dept of Commerce/Census says US Preliminary March 2019 New Construction Spending Annual Rate is at $1.282 trillion, -0.9% from February 2019, -0.8% from March 2018. USDOC PR link.

The ISM US Preliminary April 2019 Manufacturing PMI Index(>50% economy expanding) is at 52.8%, 120th consecutive month of growth, March 2019 was at 55.3%. “Comments from the panel reflect continued expanding business strength, but at the softest levels since the fourth quarter of 2016…” ISM PR link.

The IHS Markit US April 2019 Manufacturing PMI is at 52.6, March 2019 was at 52.4, February 2019 53.0, April 2018 56.5. “Although the PMI ticked higher in April, the survey remains consistent with manufacturing acting as a drag on the economy at the start of the second quarter, albeit with the rate of contraction easing…” IHS Markit PR link.

ADP(PBR233) says US Preliminary April 2019 Change in Private Sector Jobs was +275,000, +77,000 from Small Businesses(1-49 employees), +145,000 from Mid-Sized Businesses(50-499), +53,000 from Large Businesses(500 or more). Highest increase since July 2018 with +284,000. $ADP PR link.

Automotive News says US April 2019 Light Vehicle Sales was at 1,091,930 units, -2.2% from April 2018; Average Transaction Pricewas at $34,319, +2.9% from April 2018, Average Time On Lot Before Retail Sale was at 72 days. Automotive News PR link.

***Tuesday, April 30:

The PBRMarketTools US Stock Exchanges Recap for April 2019 ending 04/30/19:

DJIA ends April at 26,592.91, +0.19% from last Friday, +2.56% MTD/QTD, +14.00% YTD, -0.88% from record 26,828.39 set 10/03/18.

NASDAQ ends April at 8,095.39, -0.63% from last Friday, +4.74% MTD/QTD, +22.01% YTD, -0.81% from record 8,161.85 set 04/29/19.

SPX ends April at record 2,945.83, +0.20% from last Friday, +3.93% MTD/QTD, +17.51% YTD, +0.0% from record 2,945.83 set 04/30/19.

The Month 4 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

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The PBR1000 April 2019 Stocks & Commodities Snapshots

May 4, 2019 by admin

April 2019 The PBR1000: The Stock Market Bull Continues to Dominate

The Stock Market Bull continues his momentum and remains unbeaten on a monthly basis in 2019.

By Larry C. Paxton

The April 2019 US Stock Exchanges Summary: While The Stock Market Bull only won outright the first week of April, he won all mixed results 2-1 the remaining three weeks to once again trounce The Stock Market Bear. This despite continued US/China trade negotiations and what appears to be a slowing global economy. But better than expected jobs reports and productivity reports continue to outweigh the negatives, and The Stock Market Bull continues his unbeaten 2019 monthly win streak.

The Month 4 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

The April 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 21

Number of Gain(+)/Loss(-) Days: DJIA 12+/9-; NASDAQ 14+/7-; SPX 16+/5-.

Record Days: DJIA 0, NASDAQ 3, SPX 4

Longest Gain Streak(Consecutive Days): DJIA 3 days(03/28-04/01/19, 04/03-05/19, 04/26-30/19), NASDAQ 5 days(03/28-04/03/19), SPX 8 days(03/28-04/08/19)

Longest Loss Streak(Consecutive Days): DJIA 2 days(04/08-09/19, 04/24-25/19), NASDAQ 1 days(04/04/19, 04/09/19, 04/11/19, 04/15/19, 04/17/19, 04/24/19, 04/30/19), SPX 2 days(04/24-25/19)

Big Swing Up Days(>1.00%): 3 days (04/01/19(D +1.27%, N +1.29%, S +1.16%), 04/12/19(D +1.03%), 04/23/19(N +1.32%))

Big Swing Down Days(<-1.00%): None

The PBR1000 April 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 April 2019 Snapshots. The price for stocks is for the close of trading on April 30, 2019, Month % Chg is compared to March 29, 2019, YTD % Chg is compared to December 31, 2018, and the 16 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the April 2019 edition with the complete 15 Snapshots and 27 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

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

Table 1 Summary: The range was +60% to -54%. 718 out of 1,000 stocks were up 0% or more. The average was a gain of +3.99%, the median was a gain of 3.64%. The DJIA was +2.56%, NASDAQ +4.74%, SPX +3.93%.

Company	PBR Rank	Symbol	Price 04/30/19	Mo % Chg	YTD % Chg	16 Mos % Chg
Anadarko Petroleum	230	APC	$ 72.85	+60	+66	+36
Qualcomm	130	QCOM	$ 86.13	+51	+51	+35
Frontier Communications	333	FTR	$ 2.85	+43	+20	-58
Hovnanian	875	HOV	$ 15.22	+39	-11	-82
Sonic Auto	303	SAH	$ 20.23	+37	+47	+10

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +305% to -85%. 874 out of 999 stocks were up 0% or more. The average was a gain of 18.83%, the median was a gain of 17.83%. The DJIA was +14.00%, NASDAQ +22.01%, SPX +17.51%.

Company	PBR Rank	Symbol	Price 04/30/19	Mo % Chg	YTD % Chg	16 Mos % Chg
Diebold Nixdorf	529	DBD	$ 10.09	-9	+305	-38
Pier 1 Imports	908	PIR	$ 0.91	+20	+194	-78
Sears Holdings	178	SHLDQ	$ 0.69	-7	+156	-81
iHeartMedia	439	IHRTQ	$ 1.07	+0	+143	+114
FannieMae	21	FNMA	$ 2.48	-11	+134	-6

Table 3(S13): The PBR1000 Top 5 15 Months Stock Price % Gainers

Table 3 Summary: The range was +169% to -97%. 494 out of 998 stocks were up 0% or more. The average was a gain of 6.20%. The median was a loss of 0.44%. The DJIA was +7.58%, NASDAQ +17.27%, SPX +10.18%.

Company	PBR Rank	Symbol	Price 04/30/19	Mo % Chg	YTD % Chg	16 Mos % Chg
AMD	489	AMD	$ 27.63	+8	+50	+169
BlueLinx	900	BXC	$ 25.72	-3	+4	+164
Chipotle	536	CMG	$ 688.04	-3	+59	+138
Rent-A-Center	755	RCII	$ 24.93	+19	+54	+125
Crocs	1000	CROC	$ 27.85	+8	+7	+120

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

Table 4 Summary: The range was $994 billion to $0.01 billion. The average is $27.888 billion, median is $7.95 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 04/30/19	Mo % Chg	YTD % Chg	16 Mos % Chg
Microsoft	25	MSFT	$ 994 B	+10	+29	+51
Apple	3	AAPL	$ 965 B	+8	+30	+10
Amazon	5	AMZN	$ 954 B	+9	+32	+72
Alphabet	15	GOOG	$ 898 B	+10	+25	+23
Facebook	55	FB	$ 556 B	+17	+45	+8
The PBR1000			$ 27,888 B	+4	+18	+8

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

Company	Price 04/30/19	Mo % Chg	YTD % Chg	16 Mos % Chg
The PBR1000	91,714.95	+4.0	+18.8	+6.2
DJIA	26,592.91	+2.6	+14.0	+7.6
NASDAQ	8,095.39	+4.7	+22.0	+17.3
S&P500	2,945.83	+3.9	+17.5	+10.2
GOLD	1,285.70	-0.9	+0.1	-1.5
SILVER	14.98	-0.8	-3.7	-11.8
OIL	63.91	+6.2	+39.5	+6.3

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PBRMarketTools.com provides The PBR1000, a compilation of 1,000 of the largest publicly held companies with primary operations in the US. These companies generate $14 trillion in annual revenues, more than all other US companies combined. The PBR1000 Monthly Snapshots provides these 1,000 companies in Excel format, includes 15 worksheets with 27 rankings, over 200 data/information points, hotlinks to key data, and important news items per company. This service is used by astute business professionals and shrewd investors worldwide.

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The PBR1000 April 2019 Breaking News Recap

May 3, 2019 by admin

The PBR1000 Continues to Thrive Amid Uncertainty

Despite the many turbulent economic and political storms nationally and internationally The PBR1000 remains strong and resilient.

By Larry C. Paxton

April 2019 News Recap: The US news was dominated by illegal immigration concerns, the release of the controversial Mueller report, good news on jobs and a better than expected 3.2% GDP, but otherwise mixed results for the economy, continued US/China trade negotiations, Boeing’s 737 MAX 8 airplane issues, and ending the month with President Trump and Democratic leaders agreeing to work on a $2 trillion infrastructure program. On an international basis there are concerns for a slowing global economy and the UK withdrawal from the European Union, Brexit, is still unresolved. It was a good month for The Stock Market Bull as the NASDAQ and S&P500 both hit new records with the DJIA closing in on its record.

Here are The PBR1000 corporate, stock market, and economic related breaking news items of interest with hotlinks to the sources for April 2019, starting with the last active business day:

***Tuesday, April 30:

The PBRMarketTools US Stock Exchanges Recap for April 2019 ending 04/30/19:

DJIA ends April at 26,592.91, +0.19% from last Friday, +2.56% MTD/QTD, +14.00% YTD, -0.88% from record 26,828.39 set 10/03/18.

NASDAQ ends April at 8,095.39, -0.63% from last Friday, +4.74% MTD/QTD, +22.01% YTD, -0.81% from record 8,161.85 set 04/29/19.

SPX ends April at record 2,945.83, +0.20% from last Friday, +3.93% MTD/QTD, +17.51% YTD, +0.0% from record 2,945.83 set 04/30/19.

The Month 4 YTD tally is:
The Stock Market Bull: 4 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

Apple(PBR3) releases 2Q19 earnings report, adds $75 billion to share repurchase program. $AAPL PR link.

Amazon(PBR5) to expand its Denver Tech Huband create 400 new software and hardware engineering, cloud computing, and advertising high tech jobs, will open a new office in downtown Denver to accommodate expansion, will more than double its tech workforce in the Denver area. $AMZN PR link.

Marriott Intl(PBR146) announces Homes & Villas by Marriott International, a home rental initiative offering 2,000 premium and luxury homes located in over 100 destinations throughout the US, Europe, the Caribbean and Latin America. $MAR PR link.

Occidental Petroleum(PBR158) gets commitment from Berkshire Hathaway(PBR4)for $10 billion equity investment towards its $38 billion acquisition of Anararko(PBR231). $OXY PR link.

Ingersoll-Rand(PBR196) to spinoff its Industrial segment to IR shareholders, combine it with Gardner Denver(PBR758), will be be called Ingersoll-Rand, retain IR ticker; remainder of IR Climate company to be renamed, receive $1.9 billion, to close by early 2020. $IR PR link.

VF Corp(PBR253) spin-off of independent public company Kontoor Brands, Inc, which will hold VF’s Jeans(Wrangler® and Lee® brands) and VF Outlet businesses in the denim category, to be effective 05/23/19 with distribution of shares on 05/22/19, ticker will be NYSE: KTB. $VFC PR link.

PVH(PBR307) has entered into a licensing agreement with NIKE(PBR84) for the design, sourcing, marketing and worldwide distribution of NIKE-branded men’s underwear. $PVH PR link.

Altice USA(PBR310) to acquire digital-first, live business, general news and college network focused on young professional and millennial audiences with over 400 million video views a month company Cheddar for $200 million, to close within 2 months. $ATUS PR link.

The US Dept of Treasury says US 04/26/19 National Debt-Public is at $16.168 trillion, Intragovernmental Holdings $5.859 trillion, Total National Debt $22.057 trillion, was $21.068 trillion on 04/30/18. USTreasury PR link.

The US Dept of Labor says US 1Q19 Total Employee Cost Index-All(12/2005=100) is at 136.2, 4Q18 was at 135.2, 1Q18 132.5. USDOL PR link.

The Federal Reserve Bank of Chicago says the US 7th District Preliminary March 2019 Midwest Economic Index is at +0.22, February 2019 was at +0.29. ChiFed PR link.

The Conference Board says the US Preliminary April 2019 Consumer Confidence Index(1985=100) is at 129.2, March 2019 was at 124.2. “Overall, consumers expect the economy to continue growing at a solid pace into the summer months. These strong confidence levels should continue to support consumer spending in the near-term.” TCB PR link.

The April 2019 MNI Chicago Business Barometer is at 52.6, March 2019 was at 58.7, February 2019 64.7, April 2018 57.6. “This was a disappointing start to the second quarter, with more firms cutting back on both production and employment against a backdrop of softer domestic demand and the global slowdown …”MNI PR link.

The February 2019 S&P CoreLogic Case-Shiller US Natl Home Price NSA Index(Jan2000=1000) is at 212.70, January 2019 was at 212.27, December 2018 212.80, February 2018 206.51. Case-Shiller PR link.

The American Automobile Assn says the US 04/30/19 Natl Average for a Gallon of Regular Gas is at $2.882, +7.1% from 03/29/19, +2.5% from 04/30/18. AAA PR link.

***Monday, April 29:

Amazon(PBR5) leases space in Arlington, VA, to hire 400 in 2019, open first building in fall 2019, 25,000 in future for its HQ2 location. $AMZN PR link.

Kroger(PBR20) completes $215 million sale of its 800 employees Turkey Hillmanufacturing/distribution business producing popular iced teas, fruit drinks, milk, frozen dairy treats and a variety of ice creams to private equity firm Peak Rock Capital. $KR PR link.

Jacobs Engineering(PBR203) completes $3.3 billion sale of its Energy, Chemicals and Resources (ECR) segment to WorleyParsons Limited (ASX: WOR). $JEC PR link.

Parker Hannifin(PBR212) to acquire privately-held Cary, NC-based $1.1 billion in annual sales, 3,100 employees broad array of advanced adhesives, coatings and specialty materials as well as vibration and motion control technologies global provider LORD Corporation for $3.675 billion cash, to close in 4-6 months. $PH PR link.

Anadarko(PBR231) resuming its negotiations with Occidental Petroleum(PBR158), Board has unanimously determined that the Occidental Proposal of $76.00/share in shares/cash $37 billion deal could reasonably be expected to result in a “Superior Proposal” as defined in the $65/share $33 billion Chevron(PBR11) Merger Agreement. $APC PR link.

Coty(PBR304) partial tender offer for up to 150 million Class A shares at $11.65/share, a premium of approximately 38% to the 90-day volume-weighted average share price as of 02/11/19, from JAB Cosmetics NV, has expired, JAB to own 450+ million shares, have 60% stake in Coty, which will continue as a public company. $COTY PR link.

Genworth Financial(PBR339) sale to China Oceanwide for $5.43/share, $2.7 billion cash close extended from 04/30/19 to 06/30/19 to get additional US, China, Canada and other regulatory approvals, is 10th waiver. $GNW PR link.

Charles River Labs(PBR893) completes $500 million acquisition of Europe based with operations in N America non-clinical contract research organization, specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing, Citoxlab. $CRL PR link.

DaVita Healthcare(PBR264) Chairman/CEO Kent Thiry to become Executive Chairman, DaVita Kidney Care CEO Javier J. Rodriguez to become CEO, both effective 06/01/19. $DVA PR link.

The US Dept of Commerce/BEA says US Preliminary March 2019 Total Personal Income Annual Rate is at $18.053 trillion, +0.1% from February 2019, +3.9% from March 2018. USDOC PR link.

FreddieMac(PBR39) forecasts US 2019 30 year fixed mortgage rates to average 4.3%, down from 4.6% in 2018, “… wage growth has accelerated and is finally growing at the same rate as home prices for the first time in seven years. We expect to see the result of these low mortgage rates and stronger wage growth translate into better home sales in the coming months, along with better than expected refinance activity for the year.” $FMCC PR link.

***Friday, April 26:

The PBRMarketTools US Stock Exchanges Recap for Week 17 of 2019 ending 04/26/19:

DJIA ends the week at 26,543.33, -0.06% from last Friday, +2.37% MTD/QTD, +13.79% YTD, -1.06% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at record 8,146.40, +1.85% from last Friday, +5.40% MTD/QTD, +22.77% YTD, +0.00%% from record 8,146.40 set 04/26/19.

SPX ends the week at record 2,939.88, +1.20% from last Friday, +3.72% MTD/QTD, +17.27% YTD, +0.00% from record 2,939.88 set 04/26/19.

The Week 17 News Summary: It was a big week for corporate earnings which were overall mixed, with tech stocks doing well on the NASDAQ, the DJIA taking a loss for the week from the expected losses from Boeing, but surprise losses from 3M. Economic indiceswere also a little mixed, but with an unexpected +3.2% GDP annual rate in 1Q19. US/China trade negotiations continue with little additional information. The NASDAQ and S&P500 ended the week at records but the DJIA finished down just enough to make Week 17 a mixed 2-1 result for the third week in a row for The Stock Market Bull.

The Week 17 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 5 weeks

Alphabet(PBR15 $GOOG)’s Google’s Wing Aviation unit awarded the first FAA air carrier certification for a drone delivery company, approved for use in Blacksburg, VA. FAA PR link.

Bed Bath & Beyond(PBR245 $BBBY) group of three activist investors submit letter outlining plans to increase value of the company, includes replacing CEO immediately. Legion Partners Holdings PR link.

Bed Bath & Beyond(PBR245) issues statement responding to activist investors, says it’s “… multi-year transformation plan to strengthen its position as the expert for the home and heart-felt life events … is well underway and delivering results.” $BBBY PR link.

The US Dept of Commerce/BEA says US 1Q19 Advance Estimate Gross Domestic Product Annual Growth Rate is at +3.2%, $21.063 trillion, +1.0% from 4Q18, +5.1% from 1Q18. USDOC PR link.

The U of Michigan US Final April 2019 Consumer Sentiment Index is at 97.2, March 2019 was at 98.4, February 2019 93.8, April 2018 98.8. “… when asked about longer term financial prospects, 60% reported in the April survey that they expected to be better off financially over the next five years … the highest proportion ever recorded ….” UMichigan PR link.

***Thursday, April 25:

Walmart(PBR1) says because of UK prohibition of merger between its UK ASDA unit and UK based Sainsbury, merger has been terminated, will continue to focus on ASDA. $WMT PR link.

3M(PBR89) says 1Q19 was disappointing, will continue restructuring program, expects reduction of 2,000 positions worldwide. $MMM PR link.

Amgen(PBR122 $AMGN) and Astellas Pharma US agree to pay $125 million to resolve allegations that they violated the False Claims Act by illegally paying the Medicare co-pays for their own high-priced drugs. USDOJ PR link.

BB&T(PBR237) and SunTrust Banks(PBR287)discuss merger of equals per agreement announced on 02/07/19. $BBT PR link.

The US Dept of Labor says US Initial Unemployment Claims 4 Week Moving Average for the Week Ending 04/20/19 was at 206,000, -5.2% from 03/23/19, -10.1% from 04/21/18; Total Insured Unemployment 4 Week Moving Average for the Week Ending 04/13/19 was at 1,687,750, -3.6% from 03/16/19, -13.4% from 04/14/18; Uninsured Employment Rate at 1.2%, was 1.4% for Week Ending 03/16/19, 1.3% for 04/14/18. USDOL PR link.

The US Dept of Commerce/Census says US 1Q19 Total Housing Units were at 139,131,000, Rental Vacancy Rate was 7.0%, Homeowner Vacancy Rate 1.4%, Homeownership Rate64.2%, was 64.8% in 4Q18, 64.2% 1Q18. USDOL PR link.

FreddieMac(PBR39) says the US Average 30 Year Fixed Mortgage Rate on 04/25/19 was at 4.20% with 0.5 points/fees, was 4.06% on 03/28/19, 4.35% on 02/28/19, 4.58% on 04/26/19. “… both existing and new home sales continue to show strength – indicating the lagged effect of lower rates on housing demand. This, along with improved affordability, should push housing activity higher in the coming months.” $FMCC PR link.

***Wednesday, April 24:

Ford(PBR12) makes minority $500 million equity investment in Rivian, companies to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard platform. $F PR link.

Facebook(PBR55) has record 1Q with over $15 billion in revenues, expenses include $3.0 billion fine anticipated from the US FTC for FB’s platform and user data practices. $FB PR link.

Occidental Petroleum(PBR158) proposes to acquire Anadarko(PBR231) for $76.00/share in shares & cash deal, values transaction at around $57 billion. $OXY PR link.

Anadarko(PBR231) confirms receipt of unsolicited $76.00/share in shares/cash deal, $57 billion transaction value, from Occidental Petroleum(PBR158), will review and compare to current $65/share $33 billion deal with Chevron(PBR11). $APC PR link.

USG Corp(PBR680) $44/share, $7.7 billion cash acquisition by Germany based Gebr. Knauf KGis completed. $USG PR link.

Ryman Hospitality(PBR993) enters into joint venture with Gray Television(NYSE:GTN) to create and distribute a premier linear multicast and OTT (over-the-top) channel dedicated to the country lifestyle. $RHP PR link.

Chico’s FAS(PBR829) President/CEO/Board member Shelley Broader resigns from all roles, Board member Bonnie Brooks appointed Interim CEO effective immediately, search firm hired to search for new permanent President/CEO. $CHS PR link.

The US Energy Information Administrationsays US Millions of Barrels of Crude Oil Stocks on 04/19/19 were at 460.6, 03/22/19was at 442.3, 02/22/19 445.9, 04/20/18 429.7. EIA PR link.

ADP(PBR233) says that US 1Q19 Workforce Wage Growth was at +3.8%, $28.40/hour, 4Q18was +3.4%, 3Q18 +3.5%, 1Q18 +2.9%. $ADP PR link.

***Tuesday, April 23:

Murphy Oil(PBR844) to acquire deep water Gulf of Mexico 38,000 barrels of oil equivalent per day net assets from LLOG Exploration Offshore and affiliate for $1.375 billion, to close in 2Q19 with effective date of 01/01/19. $MUR PR link.

CBS(PBR211) President/Acting CEO Joseph Ianniello agrees to extension of his contract through 12/31/19, new CEO search suspended. $CBS PR link.

Asbury Automotive(PBR417) Non-Executive Chairman Thomas C. DeLoach, Jr., steps down, remains a member of the Board, Thomas J. Reddin named successor in planned rotation. $ABG PR link.

Burlington Stores(PBR449)Chairman/President/CEO Thomas Kingsbury to step down as CEO around 09/16/19, to hire Michael O’Sullivan as CEO effective 09/16/19, Chief Merchandising Officer Jennifer Vecchio appointed President/Chief Merchandising Officer effective immediately. $BURL PR link.

Comerica(PBR671) CEO Ralph W. Babb Jr named Executive Chairman, President/Comerica Inc and Comerica Bank Curtis Farmer named CEO. $CMA PR link.

H&R Block(PBR685) co-founder Henry W Bloch dies at age 96, visionary entrepreneur and philanthropist, co-founded HRB with brother Richard in 1955. $HRB PR link.

The US Dept of Commerce/HUD says US Preliminary March 2019 New Family Home Sales Annual Rate is at 692,000, +4.5% from February 2019, +3.0% from March 2018; Median Sales Price is $302,700, -4.0% from February 2019, -9.7% from March 2018. USDOC PR link.

The Federal Reserve Bank of Richmond says the US 5th District April 2019 Manufacturing Index(Annualized) is at +3%, March 2019 was at +10%, February 2019 +16%, April 2018 -3%. “Firms were optimistic, expecting conditions to improve in the next six months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District April 2019 Service Sector Revenue Index(Annualized) is at +26%, March 2019 was at +5%, February 2019 +17%, April 2018 +2%. “Respondents were optimistic that conditions would remain strong in the coming months.” RichmondFed PR link.

***Monday, April 22:

Sempra Energy(PBR250) completes sale of its remaining ownership interests in operating and development-stage wind assets to American Electric Power(PBR186 $AEP) for $584 million in cash, last of $2.5 billion divestiture of US renewables and non-utility natural gas storage assets. $SRE PR link.

Bemis(PBR579) $57.75/share, $6.8 billion all stock transaction acquisition by Australia based Amcor Limited (ASX: AMC) on track to close around 05/15/19 after Amcor agrees to sell some US assets. $BMS PR link.

Rent-A-Center(PBR756) to receive $92.5 million in settlement deal from Vintage Capital and B Riley for termination of acquisition proposal. RCII PR link.

Kraft Heinz(PBR107) CEO Bernardo Hees to leave effective 06/30/19, Miguel Patricio appointed to be CEO effective 07/01/19. $KHC PR link.

Bed Bath & Beyond(PBR237) appoints 5 new directors to 10 directors Board, Co-Founders Warren Eisenberg and Leonard Feinstein have transitioned to the role of Co-Founders, Co-Chairmen Emeriti and will retire from the Board, Board names Patrick Gaston as Independent Chairman, effective immediately. $BBBY PR link.

The Federal Reserve Bank of Chicago says the US Preliminary March 2029 National Activity Index is at -0.15, February 2019 was -0.31, January 2019 -0.24, March 2018 +0.32. ChiFed PR link.

The Natl Assn of Realtors says US Preliminary March 2019 Existing Home Sales Annual Rate is at 5,210,000 units, -4.9% from February 2019, -5.4% from March 2018; the Median Price was $259,400, +4.0% from February 2019, +3.8% from March 2018. NAR PR link.

***Friday, April 19:

***Good Friday.
***US Stock Exchanges Closed.

The PBRMarketTools US Stock Exchanges Recap for Week 16 of 2019 ending 04/19/19:

DJIA ends the week at 26,559.54, +0.56% from last Friday, +2.43% MTD/QTD, +13.86% YTD, -1.00% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,998.06, +0.17% from last Friday, +3.48% MTD/QTD, +20.54% YTD, -1.38% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,905.03, -0.08% from last Friday, +2.49% MTD/QTD, +15.88% YTD, -0.88% from record 2,930.75 set 09/20/18.

The Week 16 News Summary: The top news for the week was the release on Thursday of the Mueller Report, which didn’t seem to affect the stock markets other than perhaps keeping trading volumes low throughout the week which was shortened by the observance of Good Friday. Corporate earnings were mostly mixed. The Federal Reserve released the Beige Bookwhich indicated slight-to-moderate US growth. There appears to be significant progress in US/China trade negotiations with indications that a signing by leaders is being considered in late May. The Stock Market Bull and Bear each won two days of the week, but The Stock Market Bull won Week 16 in a 2-1 mixed result.

The Week 16 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 4 weeks

The US Dept of Commerce/HUD says US Preliminary March 2019 New Residential Construction Building Permits Issued Annual Rate is at 1,269,000, February 2019 was at 1,291,000, January 2019 1,317,000, March 2018 1,377,000. USDOC PR link.

***Thursday, April 18:

The US Dept of Commerce/Census says US Preliminary February 2019 Sales-Manufacturers were at $505.5 billion, Retailwas $445.5 billion, Wholesalers $495.9 billion, Total $1.447 trillion, +0.1% from January 2019, +2.5% from February 2018. USDOC PR link.

The US Dept of Commerce/Census says US Advance March 2019 Sales-Retail is at $453.0 billion, Food Services & Drinking Places was $61,1 billion, Total Sales $514.1 billion, +1.6% from February 2019, +3.6% from March 2018. USDOC PR link.

The Federal Reserve Bank of Philadelphiasays the 3rd District April 2019 Manufacturing General Activity Indicator is at 8.5, March 2019 was at 13.7, February 2019 -4.1, April 2018 23.4. PhillyFed PR link.

The Conference Board says US Preliminary March 2019 Leading Economic Index(2016=100) is at 111.9, February 2019was at 111.5, January 2019 111.4, March 2018108.9. TCB PR link.

***Wednesday, April 17:

Lear Corp(PBR137) completes $320 million acquisition of Seattle, WA-based 300 employees automotive software supplier that develops solutions for cloud, car, and mobile devices, installed in over 25 million vehicles, Xevo Inc. $LEA PR link.

PPG(PBR200) completes acquisition of Klingenberg, Germany based global automotive coatings manufacturer with 450 employees Hemmelrath, terms not disclosed. $PPG PR link.

Pier 1 Imports(PBR904) closes 30 stores in fiscal year 2019, considering closing an additional up to 45 of its 970 stores as leases expire in 2020, could increase up to 15% of stores. $PIR PR link.

The US Dept of Commerce/Census says US Preliminary February 2019 Wholesale Sales-Durable Goods is at $242.6 billion, Non-Durable Goods $253.3 billion, Total $495.9 billion, +0.3% from January 2019, +2.1% from February 2018. USDOC PR link.

The US Dept of Commerce/Census says US Preliminary February 2019 Exports-Goodswere $139.5 billion, Services $70.1 billion, Total$209.6 billion; Imports-Goods were at $211.6 billion, Services $47.5 billion, Total $259.1 billion, Trade Deficit is $49.5 billion, Total Deficit YTD(2 months) is $100.7 billion, February 2018 Total Deficit YTD was $108.8 billion. USDOC PR link.

The US Federal Reserve releases the Beige Book, says, “Economic activity expanded at a slight-to-moderate pace in March and early April…” USFed PR link.

***Tuesday, April 16:

AT&T(PBR9) 9.5% minority stake in streaming service Hulu, valued at $1.43 billion, is acquired by Hulu. $T PR link.

Intel(PBR44) acquires Basingstoke, England based optimized video and vision FPGA IP solutions provider Omnitek, terms not disclosed. $INTC PR link.

Qualcomm(PBR122) and Apple(PBR3 $AAPL)agree to drop all litigation, including with Apple’s contract manufacturers, Apple to make onetime payment to Qualcomm, reach a 6 year with 2 year extension global patent license agreement with Apple paying royalties, and a multi-year chipset supply agreement. $QCOM PR link.

MasterCard(PBR233) acquires cloud-based financing technology company for retailers Vyze, terms not disclosed. $MA PR link.

Expedia(PBR286) to acquire Liberty Expedia(NASDAQ: LEXEA, LEXEB) in an all-stock transaction, Chairman/Sr Executive Barry Diller will own approximately 29% of the voting power of the company, and Expedia Group will no longer be a controlled company under applicable NASDAQ rules. $EXPE PR link.

Smart & Final(PBR532) to be acquired by Apollo Global Mgmt(PBR772) for $6.50/share cash in a tender offer, around $500 million, to close by 3Q19. $SFS PR link.

WW(PBR974)(fka Weight Watchers) to change stock ticker symbol from NASDAQ: WTW to NASDAQ: WW, effective 04/22/19. $WTW PR link.

Caesars Entertainment(PBR517) appoints Tony Rodio as CEO, to be effective within 30 days; also announces the creation of a Transaction Committee to oversee the Company’s evaluation of ongoing efforts in creating additional shareholder value. $CZR PR link.

The US Federal Reserve says US Preliminary March 2019 Industrial Production % of Capacity is at 78.8%, February 2019 was at 79.0%, January 2019 79.1%, March 201878.2%. USFed PR link.

The Natl Assn of Home Builders Preliminary April 2019 Housing Market Composite Indexis at 63, March 2019 was at 62, February 201962, April 2018 68. “Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots …” NAHB PR link.

***Monday, April 15:

Waste Management(PBR199) to acquire Ponte Vedra, FL-based 6,000 employees $1.56 billion in 2018 revenues Advanced Disposal Services(NYSE: ADSW) for $33.15/share, $4.9 billion cash, includes $1.9 billion in debt, to close by 1Q20. $WM PR link.

Salesforce(PBR273) to acquire Salesforce.orgfor $300 million, will create a new nonprofit and education vertical. $CRM PR link.

Alliance Data(PBR358) to sell its 8,000 associates in 87 offices worldwide brand marketing Epsilon business to France based global marketing, communication, and digital transformation provider Publicis Groupe for $4.4 billion cash, to close in 3Q19. $ADS PR link.

Sears Hometown(PBR917) majority stock holder ESL Holdings and affiliates remove 2 directors from Board, appoint 2 new members, Board evaluating options including being acquired, going private, or liquidating. $SHOS PR link.

Adtalem Education(PBR983) to acquire the financial services division of compliance training, licensure preparation, continuing education and professional development across the US Brookfield, WI-based provider OnCourse Learning for around $121 million cash, to close in fiscal 4Q19. $ATGE PR link.

Best Buy(PBR69) CEO Hubert Joly to become Executive Chairman, CFO/Chief Transformation Officer Corie Barry to become CEO, Mike Mohan to become President/COO, to be effective following the 06/11/19 annual meeting. $BBY PR link.

The Federal Reserve Bank of New York says the US Empire State April 2019 Manufacturing General Business Conditions Index is at 10.1, March 2019 was at 3.7, February 2019 8.8, April 2018 17.9. “The headline general business conditions index rose six points to 10.1, indicating that growth picked up somewhat but remained fairly subdued.” NYFed PR link.

***Friday, April 12:

The PBRMarketTools US Stock Exchanges Recap for Week 15 of 2019 ending 04/12/19:

DJIA ends the week at 26,412.30, -0.05% from last Friday, +1.87% MTD/QTD, +13.22% YTD, -1.55% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,984.16, +0.57% from last Friday, +3.30% MTD/QTD, +20.33% YTD, -1.55% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,907.41, +0.51% from last Friday, +2.58% MTD/QTD, +15.98% YTD, -0.80% from record 2,930.75 set 09/20/18.

The Week 15 News Summary: The word continues to be that US/China trade negotiations are going well, US President Trump threatened new tariffs on the European Union, 1Q19 corporate earnings started to be released with generally positive results, and global and US economic reports continued to indicate a slower growth but not recession in 2019. The Stock Market Bear had a strong start to the week, but The Stock Market Bull butted back with a strong finish on Friday to take Week 15 in a mixed 2-1 result.

The Week 15 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 3 weeks

Chevron(PBR11) to acquire Anadarko(PBR246) with its 1.47 billion barrels-equivalent of proved reserves for $65/share, $33 billion in stock and cash, to close in 2H19. $CVX PR link.

GE(PBR19 $GE) in agreement with the US Dept of Justice to pay a civil penalty of $1.5 billion to resolve claims involving subprime residential mortgage loans originated by WMC Mortgage, a GE subsidiary, during 2005-2007. USDOJ PR link.

Bristol-Myers Squibb(PBR140) shareholders approve $74 billion acquisition of global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases Celgene(PBR220), to close in 3Q19. $BMY PR link.

Campbell Soup(PBR328) to sell its producer of organic beverages, dressings and carrots Bolthouse Farms to a Butterfly Equity affiliate, a Los Angeles-based private equity firm specializing in the food sector, for $510 million, to close by 07/31/19. $CPB PR link.

PG&E(PBR166) appoints Nora Mead Brownell as new Chairman, Bill Johnson to become President/CEO on 05/01/19. $PCG PR link.

NiSource(PBR516) elects Vice Chairman Kevin T. Kabat as Chairman, effective 05/07/19, to succeed retiring Richard Thompson. $NI PR link.

The US Dept of Labor says US Preliminary March 2019 Import Prices were +0.6%, Export Prices +0.7%, Year-to-Year Imports +0.0%, Year-to-Year Exports +0.6%. USDOL PR link.

The U of Michigan Preliminary April 2019 Consumer Sentiment Index is at 96.9, March 2019 was at 98.4, February 2019 93.8, April 2018 98.8. “Overall, the level of the Sentiment Index during the past 30 months was higher than any other time since 1997 to 2000, the final phase of the record 10-year expansion…” UMichigan PR link.

***Thursday, April 11:

Fred’s(PBR903) liquidations sales at 159 underperforming and unprofitable stores starts, to close these stores by end of 05/19, other 398 stores to remain open, firm retained to review strategic alternatives. $FRED PR link.

Rowan Cos(PBR978) $12 billion all-stock merger with UK based Ensco plc(NYSE: ESV)is completed, now called EnscoRowan plc(NYSE: ESV), headquarters in London, UK, US headquarters in Houston, TX. $RDC PR link.

The US Dept of Labor says US March 2019 Producer Price Index-Goods were +1.0%, Services +0.3%, Total Goods & Services+0.6%, Last 12 Months +2.0%, February 2019was +2.3%, January 2019 +2.5%, March 2018+2.9%. USDOL PR link.

***Wednesday, April 10:

Crestwood Equity(PBR597) acquires a 50% interest in Jackalope Gas Gathering Servicesfrom Williams Cos(PBR343) for approximately $485 million, positions Crestwood for long-term growth in the prolific Powder River Basin by supporting Chesapeake Energy(PBR302)’s and other producer customers’ long-term development plans. $CEQP PR link.

Qorvo(PBR711) to acquire private fabless supplier of programmable analog power solutions Active-Semi International, creates new opportunities for growth in 5G, industrial, data center, automotive and smart home markets, to close by 06/30/19, terms not disclosed. $QRVO PR link.

The US Dept of Treasury says US March 2019 Federal Government Receipts were $228.8 billion, Outlays $375.8 billion, for a Deficit of $146.9 billion, March 2018 Deficit was $208.7 billion; YTD(6 months) Receipts are $1.507 trillion, YTD Outlays $2.198 trillion, YTD Deficit$691.1 billion, March 2018 YTD Deficit was $599.7 billion. USTreasury PR link.

The US Dept of Labor says the US March 2019 Consumer Price Index-All Items was at +0.4%, February 2019 was at +0.2%, January 2019+0.0%, March 2018 -0.1%, Last 12 Months(Unadjusted) is at +1.9%. USDOL PR link.

The US Dept of Labor says US Preliminary March 2019 Average Current Earnings/Hour is at $27.70, Average Hours/Week at 34.5, Total Weekly Average Earnings at $955.65, +0.4% from February 2019, +3.2% from March 2018. USDOL PR link.

The Federal Open Market Committee releases the minutes from its 03/19-20/10 meeting, which kept the short term federal funds rate at 2.25-2.50% and indicated using “patience” in future meetings regarding the funds rate. FOMC PR link.

***Tuesday, April 9:

Principal Financial(PBR209) to acquire the $827 billion in assets under administration and 2,500 employees Wells Fargo(PBR28) Institutional Retirement & Trust business for $1.2 billion plus an earnout of up to $150 million tied to better than expected revenue retention, payable two years post-closing, to close in 3Q19. $PFG PR link.

A.O. Smith(PBR706) has acquired family owned 90 employees $60 million in annual sales Appleton, WI-based water treatment solutions provider Water-Right for $107 million cash. $AOS PR link.

The US Dept of Labor says US Preliminary February 2019 Job Openings-Private were at 6,406,000, Government 681,000, Total Job Openings 7,087,000, -7.1% from January 2019, +8.5% from February 2018. USDOL PR link.

CoreLogic says the US January 2019 Percent of Home Mortgages 30 or More Days Delinquent is at 4.0%, January 2018 was at 4.9%, January 2019 Total Percent of Homes in Foreclosure were at 0.4%, January 2018 was at 0.6%. “The 30-plus delinquency rate … is at an over 10-year low… The continued improvement in mortgage performance bodes well for the health of the U.S. market in 2019.” CoreLogic PR link.

The International Monetary Fund says the World Economic Output Growth in 2018 was at 3.6%, projects 2019 at 3.3%, 2020 at 3.6%; says the US Growth Output in 2018 was at 2.9%, projects 2019 at 2.3%, 2020 at 1.9%. IMF PR link.

***Monday, April 8:

Sears Hometown(PBR917) receives proposal to be acquired by an ESL Investments affiliate for $2.25/share, special Board committee concludes offer not in best interest of shareholders, discussions to continue. $SHOS PR link.

The US Dept of Commerce/Census says US Preliminary February 2019 Manufacturing New Orders-Durable Goods was at $250.5 billion, Non-Durable Goods $247.0 billion, Total New Orders $497.5 billion, -0.5% from January 2019, +1.5% from February 2018. USDOC PR link.

The Fannie Mae(PBR21) US March 2019 Home Purchase Sentiment Index is at 89.8, February 2019 was at 84.3, January 2019 84.7, March 2018 88.3. “Continuing a five-month trend, the net share of consumers who believe mortgage rates will go down increased 7 percentage points amid a 35 basis-point drop in mortgage rates in March alone….” $FNMA PR link.

***Friday, April 5:

The PBRMarketTools US Stock Exchanges Recap for Week 14 of 2019 ending 04/05/19:

DJIA ends the week at 26,424.99, +1.91% from last Friday/MTD/QTD, +13.28 YTD, -1.50% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,938.69, +2.71% from last Friday/MTD/QTD, +19.64 YTD, -2.11% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,892.74, +2.06% from last Friday/MTD/QTD, -1.30% from record 2,930.75 set 09/20/18.

The Week 14 News Summary: The news continues to be focused on the status of the US/China trade negotiations, with both leaders now optimistically saying a deal is coming together. President Trump has threatened to close the US Southern border with Mexicobecause of the significant increase in illegal immigrants. The UK is still struggling with how to proceed with Brexit. The global economyappears to be slowing but many prominent economists say it is a slowdown only, not a recession. The week ended with a positive employment report and a low 3.8% unemployment rate. The Stock Market Bullremained in control for another week and easily won Week 14 3-0, with all 3 major US stock exchanges starting to close in on new records.

The Week 14 YTD tally is:
The Stock Market Bull: 10 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 2 weeks

The US Dept of Labor says US March 2019 Number of Employed is at 156,748,000, -201,000 from February 2019, +1,588,000 from March 2018; Number of Unemployed is at 6,211,000, -24,000 from February 2019, -274,000 from March 2018, Unemployment Rate is at 3.8%, same as February 2019, was 4.0% in March 2018. USDOL PR link.

The US Federal Reserve says US Preliminary February 2019 Consumer Credit Outstanding-Revolving is at $1.061 trillion, Non-Revolvingat $2.985 trillion, Total $4.046 trillion, +0.4% from January 2019, +0.8% from December 2018, +4.8% from February 2018. USFed PR link.

***Thursday, April 4:

***Wednesday, April 3:

Targa Resources(PBR323) completes $1.6 billion sale of its 45% interest in Targa Badlands, the entity that holds all of Targa’s assets in N Dakota, to Blackstone(PBR386)and affiliates. $TRGP PR link.

PG&E(PBR166) hires Bill Johnson as President/CEO, 10 new directors to be appointed, 7 current directors stepping down. $PCG PR link.

Red Robin(PBR965) President/CEO Denny Marie Post has chosen to retire after discussions with the Board, new CEO search committee formed, Chairman Pattye Moore appointed interim CEO. $RRGB PR link.

ADP(PBR218) says the US Preliminary March 2019 Change in Private Sector Employmentwas +129,000, -34.5% from February 2019, -39.4% from March 2018, Small Businesseswere +6,000, Mid-Sized Businesses +63,000, Large Businesses +60,000; Goods Producing Sector -6,000, Services Sector +135,000. $ADP PR link.

The Institute for Supply Management US March 2019 Non-Manufacturing Index(>50%=economy growing) is at 56.1%, February 2019 was at 59.7%, January 201956.7%, March 2018 58.7%. “This represents continued growth in the non-manufacturing sector, at a slower rate….” ISM PR link.

The IHS Markit US March 2019 Composite PMI Output Index is at 54.6, February 2019 was at 55.5, January 2019 54.4, March 2018 54.2. “Another solid service sector performance helped offset a deteriorating trend in manufacturing to leave the PMI surveys indicative of robust economic growth in March….” IHS Markit PR link.

***Tuesday, April 2:

Lear Corp(PBR146) to acquire Seattle, WA-based 300 employees automotive software supplier that develops solutions for cloud, car, and mobile devices, installed in over 25 million vehicles, Xevo Inc, for $320 million, to close in 2Q19. $LEA PR link.

UGI Corp(PBR365) to acquire the remaining 74% of shares it does not own of largest US retail propane marketer AmeriGas Partners(NYSE: APU) for $35.33/share, $2.45 billion, will become a wholly owned subsidiary of UGI. $UGI PR link.

Automotive News reports that US March 2019 Estimated Number of Light Vehicle Saleswere at 1,605,715, -3.1% from March 2018, Average Transaction Price was $36,733, +2.3% from March 2018, Average Incentive Outlay $3,604, YTD Units Sold(3 Months)3,989,468, -3.2% from March 2018, Annual Rate of Light Vehicle Sales are at 17,420,000. Automotive News PR link.

Edmunds reports that the average interest rate on a new vehicle loan hit its highest level in a decade with the annual percentage rate (APR) on new financed vehicles expected to average 6.36% in March, compared to 5.66% last yearand 4.44% five years ago. Edmunds PR link.

The PurdueU/CME Group US March 2019 Ag Barometer is at 133, February 2019 was at 136, January 2019 143, March 2018 135. PurdueU/CME Group PR link.

International Monetary Fund‘s Managing Director Christine Lagarde says global growth is slowing, but does not see a recession in the near term, expects some pickup in growth in 2H19 and into 2020. IMF PR link.

***Monday, April 1:

Johnson & Johnson(PBR34) completes $3.4 billion cash acquisition with additional contingent payments of up to $2.35 billion payable upon reaching certain predetermined milestones of privately held developer of robotic technologies Auris Health. $JNJ PR link.

Merck(PBR71) completes $2.4 billion cash acquisition of France based around $410 million in global revenue digital animal identification, traceability and monitoring solutions provider Antelliq Group, becomes wholly owned subsidiary with the Animal Health Division. $MRK PR link.

Kellogg(PBR224) to sell Keebler Cookies and related businesses to Italy based global confectionary group Ferrero for $1.3 billion cash, to close by 07/31/19. $K PR link.

Fortive(PBR406) completes $2.7 billion cash acquistion of Johnson & Johnson(PBR34)’s Ethicon subsidiary $775 million in revenues in 2017 Advanced Sterilization Products unit. $FTV PR link.

The US Dept of Commerce/Census says US Preliminary February 2019 Private Construction Spending was at $994.5 billion, Public Construction Spending $325.8 billion, Total Construction Spending $1.320 trillion, +1.0% from January 2019, +1.1% from February 2018. USDOC PR link.

The US Dept of Commerce/Census says US Preliminary January 2019 Sales for Manufacturers was at $503.1 billion, Retailers$446.7 billion, Wholesalers $499.8 billion, Total Sales $1.450 trillion, +0.3% from December 2018, +2.8% from January 2018. USDOC PR link.

The US Dept of Commerce/Census says US Advance February 2019 Sales-Retail were at $445.7 billion, Food Svcs/Drinking Places$60.3 billion, Total Sales $506.0 billion, -0.2% from January 2019, +2.2% from February 2018. USDOC PR link.

The Institute for Supply Management says the US March 2019 Manufacturing PMI Index(>50=economy expanding) is at 55.1%, February 2019 was at 54.2%, January 201956.6%, March 2018 59.3%. “Comments from the panel reflect continued expanding business strength….” ISM PR link.

IHS Markit says the US March 2019 Manufacturing PMI is at 52.4, February 2019was at 53.0, January 2019 54.9, March 201855.6. “The moderate improvement in the
health of the manufacturing sector was the weakest since June 2017 and notably softer than the trend seen for 2018.”IHS Markit PR link.

***Friday, March 29:

The PBRMarketTools US Stock Exchanges Recap for March 2019 ending 03/29/19:

DJIA ends March at 25,928.68, +1.67% from last Friday, +0.05% MTD, +11.15% QTD/YTD, -3.35% from record 26,743.50 set 09/21/18.

NASDAQ ends March at 7,729.32, +1.13% from last Friday, +2.61% MTD, +16.49% QTD/YTD, -4.69% from record 8,109.69 set 08/29/18.

SPX ends March at 2,834.40, +1.20% from last Friday, +1.79% MTD, +13.07% QTD/YTD, -3.29% from record 2,930.75 set 09/20/18.

The Week 13 YTD tally is:
The Stock Market Bull: 9 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 2 weeks

The Month 3 YTD tally is:
The Stock Market Bull: 3 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.

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

The PBR1000 March 2019 Breaking News Recap

April 2, 2019 by admin

Forecasters generally agree that the global economy is slowing. Government and corporations are making adjustments, and markets are reacting.

By Larry C. Paxton

The March 2019 News Recap:
Throughout the month the US/China trade negotiations were the most consistent theme, along with concerns over global economic slowing and possible effects on the US, which showed up in the latest GDP numbers. The Federal Open Market Committee kept the short term federal funds rate at 2.25-2.50%. There continue to be repercussions over the recent Boeing 737-MAX 8 airplane crashes in Indonesia and Ethiopia. Midwest floods could have an impact on crop production and there is significant property damage. The Mueller Report, which found no collusion between the Donald Trump campaign and Russia, continues to generate controversy. The Affordable Care Act, also known as Obamacare, could be in jeopardy per a recent court decision and President Trump has said he will come up with a better plan. In Europe the UK Brexit has a new deadline for mid April and the government is in turmoil trying to figure out what to do. Regarding the US stockmarkets, Week 13 was a big win for The Stock Market Bull after having lost Week 12 and having the month be in jeopardy. But he remains unbeaten on a monthly basis and way ahead weekly.

***Friday, March 29:

The PBRMarketTools US Stock Exchanges Recap for March 2019 ending 03/29/19:

DJIA ends March at 25,928.68, +1.67% from last Friday, +0.05% MTD, +11.15% QTD/YTD, -3.35% from record 26,743.50 set 09/21/18.

NASDAQ ends March at 7,729.32, +1.13% from last Friday, +2.61% MTD, +16.49% QTD/YTD, -4.69% from record 8,109.69 set 08/29/18.

SPX ends March at 2,834.40, +1.20% from last Friday, +1.79% MTD, +13.07% QTD/YTD, -3.29% from record 2,930.75 set 09/20/18.

The Week 13 YTD tally is:
The Stock Market Bull: 9 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 2 weeks

The Month 3 YTD tally is:
The Stock Market Bull: 3 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

Bristol-Myers Squibb(PBR140) $74 billion acquisition of Celgene(PBR220) gets recommendation by independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. $BMY PR link.

Charles Schwab(PBR329) moving to a new subscription pricing model for Schwab Intelligent Advisory™ and renaming the service Schwab Intelligent Portfolios Premium™, initial one-time $300 fee for planning, and a $30 monthly subscription ($90 billed quarterly). $SCHW PR link.

Magellan Health(PBR464) to bring 4 new directors onto the Board per agreement with 9.8% activist investor stakeholder Starboard Value LP. $MGLN PR link.

Hovnanian(PBR872) does 25:1 reverse stock split, primarily intended to increase the per share trading price of the Company’s Class A common stock to regain compliance with the minimum average closing price criteria set forth in the NYSE’s Listed Company Manual. $HOV PR link.

WW(PBR974)(fka Weight Watchers) reveals new US marketing campaign for spring, “It Works,” featuring Oprah Winfrey, starts 03/31/19. $WTW PR link.

General Dynamics(PBR89) promotes Robert E. Smith to EVP/Marine Systems, effective 07/01/19, succeeds retiring John P. Casey. $GD PR link.

The US Dept of Commerce/BEA says US Preliminary February 2019 Personal Income Annual Rate is at $18.042 trillion, +0.2% from January 2019, +4.2% from February 2018. USDOC PR link.

The US Dept of Commerce says US Preliminary February 2019 New Family Homes Sold Annual Rate is at 667,000, Median Price $315,300, +3.8% from January 2019, -3.6% from February 2018, New Houses Available 340,000, Months Supply at 6.1. USDOC PR link.

The US Dept of Treasury says the US Public Debt on 03/28/19 was at $16.241 trillion, Intragovernmental Holdings $5.788 trillion, Total US Debt $22.029 trillion, -0.4% from 02/28/19, +0.3% YTD(3 months), +4.5% from 03/30/18. USTreasury PR link.

The US Dept of Treasury says the US 5 Year Treasury Note Yield on 03/29/19 is at 2.23%, 02/28/19 was at 2.52%, 01/31/19 2.43%, 03/30/18 2.56%. USTreasury PR link.

The US Dept of Commerce/BEA says US Preliminary 4Q18 Total Assets were at $25.399 trillion, Total Liabilities $35.116 trillion, Total Deficit Balance $9.717 trillion, +0.9% from 3Q18, +25.8% from 4Q17. USDOC PR link.

The Federal Reserve Bank of Chicago says the US 7th District Midwest February 2019 Economy Index is at +0.43, January 2019 was at +0.24. ChiFed PR link.

The MNI March 2019 Chicago Business Barometer(>50=Gaining>) is at 58.7, February 2019 was at 64.7, January 2019 56.7, March 2018 57.4. MNI PR link.

The American Automobile Assn says the US Average Price/Gallon of Regular Gas on 03/29/19 is at $2.691, +11.5% from 02/28/19, +1.4% from 03/30/18. AAA PR link.

The Gold Price Per Ounce(GCM9 06/19) on 03/29/19 was at $1,297.00, -1.4% from 02/28/19, -0.6% YTD(3 months), -2.4% from 03/30/19. GOLD PR link.

The US Exchange Rate for 1 Euro on 03/29/19was $1.1219, -1.4% from 02/28/19, -8.8% from 03/30/18. EURUSD PR link.

The U of Michigan US Final March 2019 Consumer Sentiment Index is at 98.4, February 2019 was at 93.8, January 2019 91.2, March 2018 101.4. UMichigan PR link.

***Thursday, March 28:

Amazon(PBR5) to expand its Austin, TX, Tech Hub, to create 800 new tech jobs in fields including software and hardware engineering, research science, and cloud computing. $AMZN PR link.

Facebook(PBR67 $FB) is being charged by the US Dept of Housing and Urban Development(HUD) for violating the Fair Housing Act by encouraging, enabling, and causing housing discrimination through the company’s advertising platform. HUD PR link.

Church & Dwight(PBR607) to acquire the $180 million revenues in 2018 FLAWLESS™ and FINISHING TOUCH™ brands of hair removal products from Ideavillage Products for $475 million cash plus up to an additional $425 million for incentive achievements, to close 2Q19. $CHD PR link.

WABCO(PBR669) to be acquired by privately held global leader in driveline and chassis technologies ZF Friedrichshafen AG for $136.50/share, equity value of $7+ billion, to close in early 2020. $WBC PR link.

Domino’s Pizza(PBR738) opens its 10,000th store outside the US, located in the Luohu District of Shenzhen, China. $DPZ PR link.

Wells Fargo(PBR28) President/CEO Tim Sloan to retire effective 06/30/19, stepping down from current positions and Board immediately, SEVP/General Counsel C. Allen Parker appointed interim President/CEO, external search starts for new CEO. $WFC PR link.

Campbell Soup(PBR328) Chairman Les C. Vinney retires, Keith R. McLoughlin appointed Chairman. $CPB PR link.

Tailored Brands(PBR668) Executive Chairman Dinesh Lathi appointed President/CEO, Theo Killion appointed Chairman. $TLRD PR link.

Morgan Stanley(PBR61) President Colm Kelleher to retire from his position effective 06/30/19. $MS PR link.

The US Dept of Commerce says US 4Q18 Gross Domestic Product(3rd Estimate) is at +2.2%, $20.865 trillion, +1.0% from 3Q18, +5.2% from 4Q17, 2018 Annual GDP is at +2.9%, 2017 Annual GDP was at +2.2%. USDOC PR link.

The US Dept of Labor says US 4 Week Moving Average Initial Unemployment Insurance Claims for the Week Ending 03/23/19 were at 217,250, -5.1% from 02/23/19, -4.8% from 03/31/18. USDOL PR link.

FreddieMac(PBR38) says the US Average 30 Year Fixed Mortgage Rate on 03/28/19 is at 4.06% with 0.5 points/fees, 02/28/19 was at 4.35%, 01/31/19 4.46%, 03/29/18 4.44%. $FMCC PR link.

***Wednesday, March 27:

Ford(PBR12) restructures Russian joint venture Ford Sollers to grow commercial vehicle business; exiting passenger vehicle market in Russia by end of 06/19, expects to record pre-tax special item charges of about $450 million to $500 million. $F PR link.

Centene(PBR58) to acquire 5.5 million members primarily government-sponsored managed care services provider Wellcare Health Plans(PBR168) for $305.39/share cash & stock, $17.3 billion, to close 1H20. $CNC PR link.

Nucor(PBR148) to invest $1.35 billion to build new state-of-the-art steel plate mill in Brandenburg, KY, will be capable of producing 1.2 million tons per year of steel plate products, will employ 400+ full-time teammates at an average annual salary of $72,000, and is expected to be fully operational in 2022. $NUE PR link.

Salesforce(PBR273 $CRM) sued by 50 women claiming it helped Backpage in sex trafficking.CNBC PR link.

ON Semiconductor(PBR475) to acquire high performance Wi-Fi solutions developer Quantenna Communications(NASDAQ: QTNA) for $24.50/share, $1.07 billion, to close 2H19. $ON PR link.

Equifax(PBR660) and FICO introduce strategic partnership to deliver the Data Decisions Cloud. $EFX PR link.

Cedar Fair(PBR973) to acquire the 112 acres of land for $150 million on which its Great America Theme Park is located, had originally leased the land from the City of Santa Clara since 1976. $FUN PR link.

Fannie Mae(PBR21) Interim CEO Hugh R. Frater appointed CEO. $FNMA PR link.

Stryker Corp(PBR236) hires Rob Fletcher as VP/Chief Legal Officer, effective 04/22/19, succeeds Mike Hutchinson who will transition to serve as Advisor to the CEO through 05/20. $SYK PR link.

Ryder(PBR376) hires Scott Parker as EVP/CFO, succeeds retiring Art Garcia. $R PR link.

The US Dept of Commerce says US Preliminary January 2019 Exports-Goodswere at $137.4 billion, Services $70.0 billion, Total $207.4 billion; Imports-Goods were at $210.7 billion, Services $47.8 billion, Total$258.5 billion, Deficit is $51.1 billion, January 2018 Deficit was $53.1 billion. USDOC PR link.

The US Dept of Commerce/BEA says US Preliminary 4Q18 Total Exports Receipts were at $934.3 billion, Imports Payments $1.068 trillion, for a Deficit Balance of $134.4 billion, +15.7% from 4Q17. USDOC PR link.

The Energy Information Administration says US 03/22/19 Crude Oil Stocks were at 442.3 millions of barrels, -0.8% from 02/22/19, +2.9% from 03/23/18. USEIA PR link.

***Tuesday, March 26:

Apple(PBR3) and Qualcomm(PBR123) each get a win in federal patent rulings, International Trade Commission clears Apple in one case, but judge suggests iPhones face import ban in second. MarketWatch PR link.

Bed Bath & Beyond(PBR237) issues statement regarding activist investor group nominating 16 for the board, says it is already undertaking a comprehensive transformation to evolve the foundational structure of the business, drive shareholder value and best position the Company for long-term success. $BBBY PR link.

Blackstone(PBR387) acquires majority stake in franchisor of residential and commercial property damage restoration services SERVPRO, has 1,700 franchisees in the US and Canada, terms not disclosed. $BX PR link.

Wayfair(PBR522) will open its first full-service physical retail store in the fall of 2019, to be located in the Natick Mall in Natick, MA. $W PR link.

Raytheon(PBR110) promotes Wesley D. Kremer to President/Raytheon Missile Systems, to succeed Dr. Taylor W. Lawrence who is retiring on 07/14/19, Ralph H. Acaba to succeed Kremer as President/Raytheon Integrated Defense Systems, both appointments effective 03/30/19. $RTN PR link.

BNY Mellon(PBR183) hires Senthil Kumar as SVP and Chief Risk Officer, to be effective in 07/19, succeeds Jim Wiener, who moves into a new role as Head of Balance Sheet and Capital Strategy. $BK PR link.

JCPenney(PBR232) hires Bill Walford as EVP/CFO, effective 04/08/19, currently EVP/CFO of Vitamin Shoppe(PBR995), succeeds interim CFO Michael Fung who is leaving at the end of 04/19. $JCP PR link.

OneMain(PBR605) CFO Scott T. Parker leaving, Deputy CFO Micah Conrad named Acting CFO, effective immediately. $OMF PR link.

Vitamin Shoppe(PBR995) EVP/CFO Bill Wafford leaving effective 04/05/19 to become CFO of JCPenney(PBR232), Charles Knight appointed interim CFO. $VSI PR link.

The US Dept of Commerce/Census says US Preliminary February 2019 New Residential Construction Building Permits-Private Housing Annual Rate is at 1,296,000, -1.6% from January 2019, -2.0% from February 2018. USDOC PR link.

The Federal Reserve Bank of Richmond says the US 5th District March 2019 Manufacturing Index(Annualized) is at +10%, February 2019was at +16%, January 2019 -2%, March 2018+15%. “Firms were optimistic, expecting conditions to improve in the coming months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District March 2019 Service Sector Revenue Index(Annualized) is at +5%, February 2019 was at +17%, January 2019+6%, March 2018 +25%. “Firms remained optimistic, expecting to see continued growth in the next six months.” RichmondFed PR link.

The S&P CoreLogic Case-Shiller US January 2019 Natl Home Price Index(01/2000=100) is at 204.71, December 2018 was 205.07, November 2018 205.47, January 2018 196.35. Case-Shiller PR link.

The Conference Board says the US Preliminary March 2019 Consumer Confidence Index(1985=100) is at 124.1, February 2019 was at 131.4. “… consumers remain confident that the economy will continue expanding in the near term. However, the overall trend in confidence has been softening since last summer, pointing to a moderation in economic growth.” TCB PR link.

***Monday, March 25:

Apple(PBR3) releases 4 new services: A credit card called the Apple Card. $AAPL PR link.; game subscription service Apple Arcade.$AAPL PR link.; magazine & news subscription service Apple News+. $AAPL PR link.; original content video subscription service Apple TV+.$AAPL PR link.

McDonald’s(PBR122) to acquire Israel-based with headquarters in New York personalization and decision logic technology company Dynamic Yield, to initially be used customer digital services for Drive Thru windows. $MCD PR link.

Tesla(PBR132) tweet by Elon Musk says prices on all Tesla inventory cars worldwide rise by around 3% effective 04/02/19. $TSLA PR link.

Thermo-Fisher Scientific(PBR138) to acquire nearly 600 employees in Massachussets and Florida and anticipated 2019 revenues of $250 million viral vector manufacturing for gene and cell therapies provider Brammer Bio for approximately $1.7 billion cash. $TMO PR link.

Biogen(PBR239) authorizes new $5.0 billion share repurchase program, has no expiration date, previous authorization of 08/18 remains in effect with $1.7 billion available. $BIIB PR link.

PVH(PBR320) to reacquire from Dickson Concepts the license for the Tommy Hilfigerbrand in Hong Kong, Macau, Taiwan, Singapore and Malaysia, along with certain related leases and retail assets, to close 2Q19, terms not disclosed. $PVH PR link.

Ascena Retail(PBR412) to sell a majority interest in its subsidiary, Maurices Inc(“maurices”) to an affiliate of OpCapita for $300 million, to close by early summer 2019. $ASNA PR link.

Arthur J Gallagher(PBR445) acquires Potomac Falls, VA-based retail property/casualty, life and employee benefit brokerage and consulting services agency McLean Insurance Agency, terms not disclosed. $AJG PR link.

Titan Intl(PBR954) authorizes up to $25 million share repurchase program. $TWI PR link.

La-Z-Boy(PBR940) promotes Tj Linz to President/Retail Division effective 04/28/19, succeeds retiring Daniel E. King. $LZB PR link.

The Federal Reserve Bank of Chicago says the US Preliminary February 2019 Natl Activity Index is at -0.29, January 2019 was at -0.25, December 2018 -0.01, February 2018+0.75. ChiFed PR link.

***Friday, March 22:

The PBRMarketTools US Stock Exchanges Recap for Week 12 of 2019 ending 03/22/19:

DJIA ends the week at 25,502.32, -1.34% from last Friday, -1.60% MTD, +9.32% QTD/YTD, -4.94% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,642.67, -0.60% from last Friday, +1.46% MTD, +15.18% QTD/YTD, -5.76% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,800.71, -0.77% from last Friday, +0.58% MTD, +11.72% QTD/YTD, -4.44% from record 2,930.75 set 09/20/18.

The Week 12 News Summary: It was another bad week for Boeing(PBR29) as the fallout from 2 recent crashes of its 737 MAX 8 aircraft has resulted in more investigations, including the FBI, regarding certification processes, which weighed down on its stock and the DJIA. The global and US economies appear to be slowing down resulting in the Federal Reserve Open Market Committee keeping short term federal funds interest rates at 2.25-2.50%. The bond market shows signs of a possible recession ahead. Other US economic indices are pointing to a slowdown as well. US/China trade negotiations continue, but nothing definite has been announced. The US Midwest is experiencing severe flooding from snow/rain, resulting in significant property and crop losses. Through Thursday The Stock Market Bull was ahead, but The Stock Market Bear took charge on Friday with one of the biggest downturn days of 2019 so far, and wins Week 12 3-0.

The Week 12 YTD tally is:
The Stock Market Bull: 8 weeks
The Stock Market Bear: 2 weeks
Mixed Results: 2 weeks

The US Dept of Treasury says US February 2019 Government Receipts were $167.3 billion, Outlays $401.2, Deficit is $234.0 billion, Total YTD Deficit(5 months) is $544.2 billion, Total YTD Deficit 2018(5 months) was $391.0 billion. USTreasury PR link.

The US Dept of Commerce/Census says the US Preliminary January 2019 Wholesale Sales-Durable Goods was at $245.6 billion, Non-Durable Goods $254.2 billion, Total Goods $499.8 billion, +0.5% from December 2018, +2.7% from January 2018. USDOC PR link.

The Natl Assn of Realtors says US February 2019 Existing Home Sales Annual Rate is at 5,510,000, +11.8% from January 2019, -1.8% from February 2018, Median Sales Price was $249,500, +0.8% from January 2019, +3.6% from February 2018. NAR PR link.

***Thursday, March 21:

The Federal Reserve Bank of Philadelphiasays the US 3rd District March 2019 Manufacturing General Business Indicator is at 13.7, February 2019 was at -4.1, January 2019 17.0, March 2018 23.8. “… firms remained generally optimistic about growth over the next six months.” PhillyFed PR link.

The Conference Board says the US Preliminary February 2019 Leading Economic Index(2016=100) is at 111.5, January 2019 was at 111.3, December 2018 111.3, February 2018108.5. “… the US LEI’s growth rate has slowed over the past six months, suggesting that while the economy will continue to expand in the near-term, its pace of growth could decelerate by year end.” TCB PR link.

***Wednesday, March 20:

The Federal Open Market Committee releases its meeting statement, keeping federal funds rate at 2.25-2.50%, says, “… labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter … inflation for items other than food and energy remains near 2 percent … survey-based measures of longer-term inflation expectations are little changed.” FOMC PR link.

***Tuesday, March 19:

Apple(PBR3) updates its iMac line with up to 8-core Intel 9th-generation processors, delivering up to 2.4 times faster performance, 21.5″ screen version starts at $1,299, 27″ screen version starts at $1,799. $AAPL PR link.

Alphabet(PBR15)’s Google unit to launch later this year Stadia, a new video game platform which will deliver instant access to games on any type of screen—whether it’s a TV, laptop, desktop, tablet or mobile phone. $GOOG PR link.

Kroger(PBR19) to sell its 800 employees Turkey Hill manufacturing/distribution business producing popular iced teas, fruit drinks, milk, frozen dairy treats and a variety of ice creams to private equity firm Peak Rock Capital, to close fiscal 1Q19, terms not disclosed. $KR PR link.

Boeing(PBR28) 737-Max 8 aircraft certifications to be reviewed per directive by the US Dept of Transportation because of recent fatal crashes in Indonesia and Ethiopia. $BA PR link.

Citigroup(PBR31) Citibank NA gets $25 million fine from the US Dept of Treasury’s Office of the Comptroller for Currency for violating the Fair Housing Act. $C PR link.

Facebook(PBR67) outlines changes its making to its policies per settlements with National Fair Housing Alliance (NFHA), as well as the American Civil Liberties Union (ACLU), the Communication Workers of America (CWA) and other private parties to prevent discrimination in housing, employment and credit advertising. $FB PR link.

21st Century Fox(PBR92) completes spinoff of Fox Corporation(NASDAQ: FOXA and FOXB), 21CF acquisition by Walt Disney(PBR53) to be completed on 03/20/19. $FOX PR link.

AbbVie(PBR99) says US Food and Drug Administration has placed a partial clinical hold on all clinical trials evaluating venetoclax (VENCLEXTA®/VENCLYXTO®) for the investigational treatment of multiple myeloma, does not impact any of the approved indications for venetoclax, such as chronic lymphocytic leukemia (CLL) or acute myeloid leukemia (AML). $ABBV PR link.

Starbucks(PBR112) to change current single tiered loyalty rewards program to a 2-tier system for its 16+ million members. $SBUX PR link.

Tesla(PBR132) extends order deadline to avoid slight price increases from midnight 03/18/19 to midnight 03/20/19 because unable to process all orders due to unusually high order volume. $TSLA PR link.

Avnet(PBR155) is working with BitPay, the largest global blockchain payment provider, to accept cryptocurrency for products and services. $AVT PR link.

Performance Food(PBR161) to acquire privately held Naperville, IL-based 3rd largest US distributor of pre-packaged candy, snacks, specialty beverages and tobacco products in the convenience industry with $5.3 billion in fiscal 2018 revenues Eby-Brown Co, to close 2Q19, terms not disclosed. $PFGC PR link.

Goodyear Tire(PBR188) to modernize Goodyear Dunlop Tires Germany GmbH’s tire manufacturing facilities in Hanau and Fulda, Germany, will result in 1,100 job reductions, to be completed in 2022. $GT PR link.

MGM Resorts(PBR267) becomes Major League Soccer(MLS)‘s first official gaming partner and Roar Digital (Roar), the joint venture between MGM and GVC, as the exclusive Official Sports Betting Partner of MLS. $MGM PR link.

Jones Lang LaSalle(PBR349) to acquire commercial real estate capital markets intermediary provider HFF(NYSE: HF) in $49.16/share stock & cash deal with enterprise value of $2 billion, to close 3Q19. $JLL PR link.

AMD(PBR490) announces that Alphabet(PBR15)’s Google unit has selected high-performance, custom AMD Radeon datacenter GPUs for its Vulkan® and Linux®-based new Google Stadia videogaming platform. $AMD PR link.

DSW(PBR735) presents three-year strategic priorities, changing its name to Designer Brands Inc effective today, to change ticker symbol from NYSE: DSW to NYSE: DBI starting 04/02/19. $DSW PR link.

BorgWarner(PBR290) hires Kevin A. Nowlan as EVP/CFO, effective 04/01/19. $BWA PR link.

Trinity Industries(PBR618) promotes Eric R. Marchetto to SVP of Trinity and Group President/TrinityRail, Chairman/CEO roles being split, Leldon E. Echols appointed Chairman, Timothy R. Wallace remains CEO. $TRN PR link.

Barnes & Noble(PBR620) hires Joe Gorman as EVP/Operations. $BKS PR link.

SeaWorld(PBR982) COO John T. Reilly is leaving effective 03/31/19. $SEAS PR link.

The US Dept of Labor/Census says US 4Q18 Average Hourly Wages & Salaries for All Workers were at $24.91, Benefits $11.41, Total$36.32, -0.9% from 3Q18, +1.3% from 4Q17. USDOL PR link.

The US Dept of Commerce says US Preliminary January 2019 Manufacturers Orders-Durable Goods were at $255.3 billion, Non-Durable Goods $245.2 billion, Total$500.5 billion, +0.1% from December 2018, +4.2% from January 2018. USDOC PR link.

***Monday, March 18:

Apple(PBR3) introduces the all-new iPad Air, ultra-thin 10.5-inch design, includes Apple Pencil1 support and high-end performance, starts at $499, and introduces the new 7.9-inch iPad mini, starts at $399. $AAPL PR link.

Boeing(PBR28) Chairman/President/CEO Dennis Muilenburg releases letter to airlines, passengers, and the aviation community regarding updates and plans based on investigations of the recent 737 MAX 8 Lion Air Flight 610 and the Ethiopian Airlines Flight 302 fatal accidents. $BA PR link.

Starbucks(PBR112) opens 30,000th store, located in Shenzhen, China, the Starbucks Reserve® Shenzhen Bay Mix City location. $SBUX PR link.

Marriott Intl(PBR119) three-year growth plan includes opening 1,700+ hotels around the world. $MAR PR link.

Thermo-Fisher Scientific(PBR138) to invest $150 million in its Pharma Services unit to expand its Monza and Ferentino, Italy, and Greenville, NC facilities, to be completed within 24 months. $TMO PR link.

Allergan(PBR178) gets US FDA approval for supplemental New Drug Application for AVYCAZ® (ceftazidime and avibactam), expanding the label to include pediatric patients 3 months and older for the treatment of complicated intra-abdominal infections (cIAI) in combination with metronidazole and complicated urinary tract infections (cUTI), first FDA approval of a pediatric indication for cUTI and cIAI in more than a decade. $AGN PR link.

Newell Brands(PBR198) to sell its $640 million in sales in 2018 custom-designed plastic, nylons, monofilament, and zinc products manufacturerProcess Solutions business to One Rock Capital Partners for $500 million after tax. $NWL PR link.

Mylan(PBR247) conducting a voluntary nationwide recall of two lots of cancer drug Levoleucovorin Injection, 250 mg/25 mL due to presence of particulate matter identified as copper salts. $MYL PR link.

NVIDIA(PBR295) opens GPU Technology Conference, announces several updates and new capabilities for its microchips for use in datacenters, AI, robotics, autonomous vehicles. $NVDA PR link.

FIS(PBR313) to acquire payment technology company Worldpay(PBR584) in stock and cash deal for enterprise value of $43 billion, FIS shareholders will own around 53% and Worldpay shareholders around 47% of combined company, to close in 2H19. $FIS PR link.

William Cos(PBR346) to get $1.34 billion from Canada Pension Plan Investment Board for a 35% interest in joint venture in Ohio Valley Midstream and Utica East Ohio Midstream systems. $WMB PR link.

Activision Blizzard(PBR390) in collaboration with Tencent, announces that free online game Call of Duty®: Mobile to be available in certain regions in summer 2019, for Android and iOS mobile devices. $ATVI PR link.

S&P Global(PBR452) to sell its Standard & Poor’s Investment Advisory Services to Goldman Sachs(PBR86) Asset Managementunit, to close 1H19, terms not disclosed. $SPGI PR link.

Roper Technologies(PBR531) to acquire UK-based $75 million in revenues/year visual effects and 3D content for the digital design, visualization, and entertainment industries provider Foundry for around $540 million, to close in 04/19. $ROP PR link.

3M(PBR87) reorganizing from 5 business segments to 4, Michael Vale appointed EVP/Safety & Industrial Business Group, Ashish Khandpur, appointed EVP/Transportation & Electronics Business Group, Mojdeh Poul appointed EVP/Health Care Business Group, Paul Keel appointed EVP/Consumer Business Group, Denise Rutherford appointed SVP/Corporate Affairs, Stephen Shafer appointed SVP/Business Development and Marketing-Sales. $MMM PR link.

Franklin Resources(PBR428) hires Matthew Nicholls as EVP/CFO, effective 05/06/19, to succeed retiring and 30 year veteran of the company Ken Lewis. $BEN PR link.

CNO Financial(PBR559) hires Paul H. McDonough as CFO, succeeds leaving Erik Helding, and Rocco Tarasi as Chief Marketing Officer, succeeds leaving Gerardo Monroy, both start 04/01/19. $CNO PR link.

The Natl Assn of Home Builders/Wells Fargo US Preliminary March 2019 Housing Market Composite Index is at 62, February 2019 was at 62, January 2019 58, March 2018 70. “Builders report the market is stabilizing following the slowdown at the end of 2018 and they anticipate a solid spring home buying season, …” NAHB PR link.

***Friday, March 15:

The PBRMarketTools US Stock Exchanges Recap for Week 11 of 2019 ending 03/15/19:

DJIA ends the week at 25,848.87, +1.57% from last Friday, -0.26% MTD, +10.81% QTD/YTD, -3.65% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,688.53, +3.78% from last Friday, +2.07% MTD, +15.87% QTD/YTD, -5.19% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,822.48, +2.89% from last Friday, +1.36% MTD, +12.59% QTD/YTD, -3.69% from record 2,930.75 set 09/20/18.

The Week 11 US Stock Exchanges Recap:
After last week’s embarrassing loss to The Stock Market Bear, the first of the year, The Stock Market Bull came stomping back to regain the pasture and takes Week 11 3-0 in dominant style.

The Week 11 YTD tally is:
The Stock Market Bull: 8 weeks
The Stock Market Bear: 1 week
Mixed Results: 2 weeks

The Week 11 News Summary: Boeing(PBR29)took a beating as a Boeing 737 Max 8 crashes killing all aboard, after a similar crash 5 months ago. The fleet has been grounded pending more information. There were mixed signals on US/China trade negotiations, at the end of the week there was some optimistic news on the global economy. US economic data was a little mixed, some results impacted by the December/January US federal government partial shutdown. Corporate earnings were a little mixed. Cheating on college admissionsby wealthy and famous parents to get their kids into prestigious universities was the surprise news event of the week.

Qualcomm(PBR123) gets $1.41/device, $31 million, in lawsuit against Apple(PBR3) for patent infringement for 3 chips used in smartphones. $QCOM PR link.

Qualcomm(PBR123) gets reversal from the Japan Fair Trade Commission (JFTC) on a 2009 cease-and-desist order affecting Qualcomm licensing in Japan, concludes Qualcomm’s cross-licensing provisions and non-assertion covenants did not violate Japanese antimonopoly law. $QCOM PR link.

Tesla(PBR132) introduces new Model Ycrossover vehicle, starts at $42,700 after price savings. $TSLA PR link.

Tesla(PBR132) extends $4.75/share in all stock deal, 55% premium over 02/01/19 stock price close, deal valued at around $218 million tender offer to acquire developer and manufacturer of ultracapacitors applied to the manufacturing of batteries Maxwell Technologies(NASDAQ: MXWL) from 03/19/19 to 04/02/19. $TSLA PR link.

Cree(PBR948) to sell its Lighting Productsbusiness unit, which includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications, to Ideal Industries for approximately $310 million, to close in 4Q19. $CREE PR link.

Olin Corp(PBR430) promotes James A. Varilek to EVP/COO, effective 04/01/19. $OLN PR link.

Diplomat Pharmacy(PBR536) hires Dan Davison as CFO/Treasurer effective 04/08/19, succeeding Atul Kavthekar. $DPLO PR link.

Meritor(PBR565) promotes Carl Anderson to SVP/CFO, succeeds leaving Kevin Nowlan. $MTOR PR link.

The US Dept of Labor says US Preliminary January 2019 Job Openings-Private were at 6,902,000, Government 678,000, Total7,580,000, +1.4% from December 2018, +15.0% from January 2018. USDOL PR link.

The US Federal Reserve says US Preliminary February 2019 Industrial Production Percent of Capacity was 78.2%, January 2019 was 78.3%, December 2018 78.7%, February 201877.2%. USFed PR link.

The Federal Reserve Bank of New York says the Empire State March 2019 Manufacturing General Business Conditions Index is at 3.7, February 2019 was at 8.8, January 2019 3.9, March 2018 21.9. NYFed PR link.

The U of Michigan US Preliminary March 2019 Consumer Sentiment Index is at 97.8, February 2019 was 93.8, January 2019 91.2, March 2018 101.4. UMichigan PR link.

***Thursday, March 14:

GE(PBR20) provides 2019 outlook, looking to 2020 and 2021 performance “… to be significantly better with positive Industrial free cash flow as headwinds diminish and our operational improvements yield financial results.” $GE PR link.

HCA(PBR59) to become majority owner of parent of Galen College of Nursing, one of the largest nursing educators in the US, terms not disclosed. $HCA PR link.

Arrow Electronics(PBR102) and Freelancer.com (ASX:FLN), the world’s largest freelancing and crowdsourcing marketplace by number of users, today announced the launch of ArrowPlus powered by Freelancer.com to help companies design and build hardware products through access to over half a million skilled electronic and electrical engineers. $ARW PR link.

Dollar General(PBR117) authorizes additional $1.0 billion to share repurchase program, balance available is now $1.346 billion, no expiration date. $DG PR link.

Becton Dickenson(PBR177) gets US FDA premarket approval for the Venovo™ venous stent, the first stent indicated to treat iliofemoral venous occlusive disease, which is obstructed or narrowed blood flow specific to the iliac and femoral veins located near the groin. $BDX PR link.

Stryker Corp(PBR236) acquires privately held Caesarea, Israel-based highly differentiated technology for the treatment of massive irreparable rotator cuff tears provider OrthoSpace, used on 20,000+ patients worldwide, in clinical trials in the US, for $110 million cash up front plus up to $110 million based on milestone achievements. $SYK PR link.

GameStop(PBR310) gets letters from activist investors Hestia Capital and Permit Capitalconcerning underperformance of company, demand bringing in new and independent Board members and tendering for up to $700 million of the Company’s common stock. $GME PR link.

Genworth Financial(PBR339) sale to China Oceanwide for $5.43/share, $2.7 billion cash close extended from 03/15/19 to 04/30/19 to get additional US, China, Canada and other regulatory approvals. $GNW PR link.

AMC Entertainment(PBR504) begins national rollout of food and beverage mobile ordering, starting in Boston, Denver and Houston, more to be added throughout 2019, can order tickets and food/beverage items online for pickup upon arrival. $AMC PR link.

TransDigm(PBR604) completes $122.50/share, a 38% premium from 10/09/18 closing price, around $4.0 billion in cash, includes debt, acquisition of Bellevue, WA, based 28 business units organized across eight platforms for specialty aerospace, defense and industrial products, 12,500 employees in more than 50 operating global locations, $2.0 billion sales/FY18 Esterline Technologies(PBR867). $TDG PR link.

Newell Brands(PBR198) President/CEO Michael Polk to retire at end of 2Q19, new CEO search starts. $NWL PR link.

Facebook(PBR67) Chief Product Officer Chris Cox is leaving the company, head of WhatsApp Chris Daniels also leaving, will be succeeded by Will Cathcart, Fidji Simo will be the new head of the Facebook app. $FB PR link.

TriNet(PBR673) hires Dilshad Simons as SVP/Products. $TNET PR link.

CIT Group(PBR809) hires Jim Hubbard as General Counsel & Corporate Secretary. $CIT PR link.

The US Dept of Commerce/HUD says US Preliminary January 2019 New Family Homes Sold/For Sale Annual Rate is at 607,000, -6.9% from December 2018, -4.1% from January 2018; Median Price is $317,200, -0.6% from December 2018, -3.8% from January 2018; Homes Available are at 336,000, -1.5% from December 2018, +13.9% from January 2018. USDOC PR link.

The US Dept of Labor says US Preliminary February 2019 Import Prices were +0.6%, January 2019 was at +0.1%, December 2018-1.4%, February 2018 +0.2%; Export Priceswere +0.6%, January 2019 was at -0.5%, December 2018 -0.7%, February 2018 +0.2%; Last 12 Months Import Prices were -1.3%, Export Prices +0.3%. USDOL PR link.

***Wednesday, March 13:

AT&T(PBR9 $T) hikes prices from $40/mo to $50/mo for base package, cuts channels for DirecTV Now streaming package. MarketWatch PR link.

Kroger(PBR19) completes $565 million sale of its digital coupon and digital rebate publishing platform You Technology to Inmar, finalizes long-term service agreement for Inmar to provide digital coupon services to the Kroger family of stores. $KR PR link.

JPMorgan Chase(PBR26) banking unit plans to open up to 90 branches in new markets and hire up to 700 employees by end of 2019. $JPM PR link.

Boeing(PBR29) temporarily grounds 737 MAX 8 & 9 airplane operations based on recent accidents and after consultation with the US Federal Aviation Administration (FAA), the US National Transportation Safety Board (NTSB), and aviation authorities and its customers around the world. $BA PR link.

Arthur J Gallagher(PBR445) acquires Cedar Rapids, IA-based commercial and personal property/casualty insurance, group and individual health, and individual life coverage and services agency Hammerberg Insurance Services, Inc., dba First Iowa Insurance Agency, terms not disclosed. $AJG PR link.

Signet Jewelers(PBR436) hires Joan M. Hilson as CFO, effective 04/04/19, succeeds leaving Michele Santana. $SIG PR link.

The US Dept of Labor says US Preliminary February 2019 Producer Price Index Total Final Demand was +0.1%, Goods were +0.4%, Services +0.0%, Last 12 Months +2.3%, January 2019 was +2.5%, December 2018+2.8%, February 2018 +2.7%. USDOL PR link.

The US Dept of Commerce/Census says US Preliminary January 2019 Construction Spending Annual Rate-Residential was at $517.2 billion, Non-Residential $762.5 billion, Total $1.280 trillion, +1.3% from December 2018, +0.3% from January 2018. USDOC PR link.

***Tuesday, March 12:

Wells Fargo(PBR27) President/CEO Tim Sloan shares with the US House Committee on Financial Services the many ways that Wells Fargo has become a better bank through the ongoing transformation of its operations, leadership and culture. $WFC PR link.

Biogen(PBR239) enters into a share purchase agreement with FUJIFILM Corporation which will acquire the shares of Biogen’s subsidiary, which holds Biogen’s 800 employees biologics manufacturing operations in Hillerød, Denmark, for up to $890 million in cash. $BIIB PR link.

HanesBrands(PBR416) launches Ultimate Baby line exclusively in Amazon(PBR5)’s online and mobile stores, Flexy and Zippin collections designed to grow with babies, differentiated by four simple sizes. $HBI PR link.

Chipotle(PBR537) launches Chipotle Rewardsloyalty program, using Venmo payouts to give away up to $250,000 to approximately 25,000 Chipotle fans per day through 03/15/19. $CMG PR link.

Pyxus(PBR893) announces the opening of its affiliate, Criticality, LLC‘s, industrial hemp extraction and purification 55,000 sf facility located in Wilson, NC. $PYX PR link.

SunPower(PBR889) gets partnership with 3.5 million members Sierra Club, members or supporters who purchase or lease a SunPower® home solar system can receive a $1,000 mail-in rebate and SunPower will give Sierra Club $1,000 to support the organization’s mission. $SPWR PR link.

Rite Aid(PBR132) leadership transition plan and an organizational restructuring results in CEO John Standley to step down upon appointment of successor; Kermit Crawford, President/COO, and Darren Karst, CFO/CAO, leaving, Bryan Everett named COO, Matt Schroeder named CFO. $RAD PR link.

HanesBrands(PBR416) Chairman and former CEO Richard A. Noll retiring, Ronald L. Nelson appointed Chairman effective 04/23/19, upon re-election to the Board that day. $TSLA PR link.

Element Solutions(PBR607) promotes Carey J. Dorman to CFO. $ESI PR link.

The US Dept of Labor says US February 2019 Consumer Price Index-Urban All Items Change was +0.2%, Food was +0.4%, Energy+0.4%, All Items Less Food & Energy +0.1%, All Items Change from February 2018 +1.5%. USDOL PR link.

The US Dept of Labor says US Preliminary February 2019 Current Employee Average Hourly Wage is $27.66, Average Weekly Hours Worked 34.4, Total Average Weekly Wage$951.50, +0.1% from January 2019, +3.1% from February 2018. USDOL PR link.

CoreLogic says US December 2018 Mortgage Loans 30 or More Days Delinquent were at 4.1%, December 2017 was 5.3%. CoreLogic PR link.

***Monday, March 11:

Tesla(PBR132) reverses decision to close all stores, will keep around 50% open for test drives and assistance in ordering online, base Model 3 price remains at $35,000, other models to increase 3%. $TSLA PR link.

Ross Stores(PBR208) to open 75 Ross and 25 dd’s DISCOUNTS new locations in fiscal year 2019. $ROST PR link.

NVIDIA(PBR295) to acquire end-to-end Ethernet and InfiniBand smart interconnect solutions and services for servers and storage supplier Mellanox(NASDAQ: MLNX) for $125/share, around $6.9 billion cash, to close by 12/31/19. $NVDA PR link.

Newmont Mining(PBR375) to own 38.5% and Barrick Gold(NYSE:GOLD)(TSX:ABX) 61.5% of joint venture combining their respective mining operations, assets, reserves, and talent in Nevada, complex will be the world’s single-largest gold producer; as a result Barrick has withdrawn its Newmont acquisition proposal. $NEM PR link.

Newmont Mining(PBR375) sets 04/11/19 for special shareholder meeting to vote on $12/share, $10 billion equity value all shares acquisition of Canada based global gold producer Goldcorp(NYSE: GC). $NEM PR link.

HanesBrands(PBR416) and basketball legend Michael Jordan celebrate their 30-year partnership with special trading card promotion included in 800,000 specially marked bonus packs of Hanes men’s underwear. $HBI PR link.

Arthur J Gallagher(PBR445) acquires Shelton, CT-based retail property/casualty broker and employee benefits consultant Merit Insurance, terms not disclosed. $AJG PR link.

Taylor Morrison Homes(PBR595) adds up to $100 million to its Class A stock repurchase program, expires 12/31/19. $TMHC PR link.

Hill-Rom(PBR742) to acquire Sarasota, FL-based 220,000 caregivers network real-time, mobile healthcare communications provider Voalte for $180 million cash plus up to $15 million for milestone achievements, to close 3Q19. $HRC PR link.

XPO Logistics(PBR187) terminates COO Kenneth R. Wagers III without cause, will receive severance pay, sign-on bonus, healthcare benefits, vested restricted stock. $XPO PR link.

TripAdvisor(PBR943) hires Kanika Soni as President/Hotels business unit, effective 04/15/19. $TRIP PR link.

The US Dept of Commerce says US Preliminary December 2018 Sales for Manufacturers were at $504.9 billion, Retailers$443.0 billion, Wholesalers $497.2 billion, Total Sales $1.445 trillion, -1.0% from November 2018, +2.1% from December 2017. USDOC PR link.

The US Dept of Commerce/Census says US Advance January 2019 Retail Sales were at $443.6 billion, Food Services & Drinking Places $60.8 billion, Total $504.4 billion, +0.2% from December 2018, +2.3% from January 2018. USDOC PR link.

***Friday, March 8:

The PBRMarketTools US Stock Exchanges Recap for Week 10 of 2019 ending 03/08/19:

DJIA ends the week at 25,450.24, -2.21% from last Friday, -1.80% MTD, +9.10% QTD/YTD, -5.14% from record 26,828.39 set 10/03/18.

NASDAQ ends the week at 7,408.14, -2.46% from last Friday, -1.65% MTD, +11.65% QTD/YTD, -8.65% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,743.07, -2.16% from last Friday, -1.49% MTD, +9.42% QTD/YTD, -6.40% from record 2,930.75 set 09/20/18.

The Week 10 US Stock Exchanges Recap:
It was a week when The Stock Market Bulldecided to take a rest, The Stock Market Bearwas willing, eager and hungry. He feasted voraciously throughout the week to get his first victory of the year with a 3-0 trouncing.

The Week 10 YTD tally is:
The Stock Market Bull: 7 weeks
The Stock Market Bear: 1 week
Mixed Results: 2 weeks

The Week 10 News Summary: There was really no news on the continuing US/China trade negotiations, except for a few brief comments that they were making progress. Economic news was mostly the slowing of growth worldwide, the US trade imbalance reached a new high, the US Fed’s Beige Book indicated slowing growth expectations, jobs numberscame in significantly lower than expected, but unemployment continues to be low.

DowDuPont(PBR45) to complete spin-off of Materials Science Division as the new Dow, will start trading on 04/02/19 with ticker symbol NYSE: DOW; Corteva Agriscience™ spin-off from the new DuPont to be on 06/01/19. $DWDP PR link.

Medtronic(PBR95) authorizes additional $6 billion for shares repurchase program, balance is $7.3 billion, no expiration date. $MDT PR link.

Caesars Entertainment(PBR518) gets SEC filing by Icahn Enterprises(PBR127 $IEP) and affiliates showing 15.53% stake in CZR. $CZR PR link.

Brink’s(PBR665) hires Dana O’Brien as SVP/General Counsel effective 04/15/19. $BCO PR link.

The US Dept of Labor says US February 2019 Total Civilian Force Employed was at 156,949,000, +255,000 from January 2019, +2,546,000 from February 2018; February 2019 Total Unemployed is at 6,235,000, Unemployment Rate is 3.8%, January 2019was 4.0%, February 2018 4.4%. USDOL PR link.

The US Dept of Commerce/HUD says the US Preliminary January 2019 Private Housing Permits Issued Annual Rate was at 1,345,000, December 2018 was at 1,326,000, November 2018 1,322,000, January 2018 1,366,000. USDOC PR link.

***Thursday, March 7:

Tech Data(PBR77) authorizes additional $100 million to share repurchase program, is now $300 million, $107 million of authorization already used for repurchases. $TECD PR link.

Johnson Controls(PBR88) approves an additional $8.5 billion share repurchase program, subject to completion of sale of its Power Solutions business which is expected to close by 06/30/19. $JCI PR link.

Xerox(PBR278) to reorganize as a holding company, will become a direct, wholly-owned subsidiary of a new holding company, change is for more strategic, operational and financial flexibility. $XRX PR link.

Tesla(PBR132) says it has 12,000 supercharging stations across the US, in China, and Europe, continues to expand network, introducing V3 Supercharging Stations, will cut charging times by 50%, Model 3 can recover 75 miles in a 5 minute charge. $TSLA PR link.

Fifth Third Bancorp(PBR359) has all regulatory approvals needed for $4.7 billion 90% stock/10% cash acquisition of MB Financiall(NASDAQ: MBFI), to close on 03/22/19. $FITB PR link.

Trinity Industries(PBR619) authorizes new up to $350 million share repurchase program, expires 12/31/20. $TRN PR link.

ResMed(PBR818) acquires S Korea based HB Healthcare to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions. $RMD PR link.

MetLife(PBR46) EVP/Chief Risk Officer Ramy Tadros will become President/US Business, will succeed President/US Business and EMEA Michel Khalaf who becomes MetLife President/CEO on 05/01/19. $MET PR link.

ADP(PBR217) hires Kathleen Winters as CFO, effective 04/15/19, at which time current CFO Jan Siegmund will step down. $ADP PR link.

The US Federal Reserve System says US Preliminary January 2019 Consumer Credit Outstanding-Revolving is at $1.058 trillion, Non-Revolving $2.976 trillion, Total $4.035 trillion, Annual Rate is +5.1%. USFed PR link.

The US Dept of Labor says US 4Q18 Non-Farm Business Labor Productivity was +1.9% from 3Q18, +1.8% from 4Q17. USDOL PR link.

FannieMae(PBR20) says the the US February 2019 Home Purchase Sentiment Index is at 84.3, January 2019 was at 84.7, December 2018 83.5, February 2018 85.8. “The HPSI held steady in February, as consumers’ continuing optimism about economic conditions seems to be balanced with softening attitudes toward the housing market …” $FNMA PR link.

***Wednesday, March 6:

The PBR1000 Investor Spotlight for today is Axalta Coating Systems Ltd(PBR526)(NYSE: AXTA). Check out the Axalta profile at PR link.

Amazon(PBR5 $AMZN) to close all 87 of its U.S. pop-up stores. MarketWatch PR link.

Facebook(PBR67) Chairman/CEO Mark Zuckerberg outlines Facebook’s vision and principles around building a privacy-focused messaging and social networking platform. $FB PR link.

Synchrony Financial(PBR170) acquires Boise, ID-based pet health insurance industry pioneer Pets Best, has 125,000+ pet health insurance policies in force, more than one million claims processed, and payouts of $200 million in claims, terms not disclosed. $SYF PR link.

Baxter(PBR270) gets US FDA approval for and launches ready-to-use eptifibatide, a platelet aggregation inhibitor that prevents platelets from sticking together and clotting. $BAX PR link.

Bausch Health(PBR326) completes $195 million plus certain assumed liabilities as the “stalking horse” bidder acquisition of of certain assets of biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies Synergy Pharmaceuticals(NASDAQ: SGYP). $BHC PR link.

GNC(PBR801) announces exclusive retail and Amazon partnership with Alani Nutrition, a premium women’s US made supplement brand offering a range of health and sports nutrition products. $GNC PR link.

Fitbit(PBR933) introduces 4 new products, includes waterproof Ace 2 for children 6+, retails for $69.95, to be available online and in stores in summer 2019, other products are Versa liteversions at lower prices. $FIT PR link.

Chico’s FAS(PBR827) hires Karen McKibbin as President/Chico’s Brand, effective 04/01/19. $GOOG PR link.

MSCI(PBR979) Head of Strategy, Corporate Development and Investor Relations Andrew C. Wiechmann to serve as Interim CFO and Treasurer, succeeds Kathleen A. Winters who is resigning effective 03/15/19. $MSCI PR link.

The US Federal Reserve System releases its Beige Book for data collected through 02/25/10, says, “Economic activity continued to expand in late January and February, with ten Districts reporting slight-to-moderate growth, and Philadelphia and St. Louis reporting flat economic conditions.” USFed PR link.

The US Dept of Commerce says US Preliminary December 2018 Total Exports-Goods were at $135.6 billion, Services $69.5 billion, Total Exports $205.1 billion; Total Imports-Goods were at $217.2 billion, Services$47.7 billion; Total Deficit-Goods were at $81.6 billion, Total Surplus-Services $21.8 billion, Total Deficit $59.8 billion; Total 2018 Exportswere at $2.500 trillion, Imports $3.121 trillion, Total Deficit $621.1 billion, Total 2017 Deficitwas $552.3 billion. USDOC PR link.

ADP(PBR218) says the US Preliminary February 2019 Total Private Non-Farm Sector Jobs Created were 183,000, -39% from Revised January 2019, -16.4% from Revised February 2018, 12,000 were from Small Businesses, 95,000 from Mid-Sized Businesses, and 77,000 from Large Businesses, 44,000 from Goods Producing Sector, 139,000 from the Services Sector. $ADP PR link.

The OECD sees global growth slowing, as Europe weakens and risks persist, forecasts US 2018 GDP at 2.9%, 2019 2.6%, and 2020 2.2%. OECD PR link.

***Tuesday, March 5:

Alphabet(PBR15)’s Chronicle unit launches enterprise cybersecurity service Backstory, the first global security telemetry platform designed for a world that thinks in petabytes. $GOOG PR link.

Home Depot(PBR24) to hire 80,000 associates for spring season, includes part-time and full-time positions for its around 2,000 stores and 100+ distribution centers. $HD PR link.

Johnson & Johnson(PBR35 $JNJ) Janssen Pharmaceuticals unit gets US FDA approvalfor Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them, only available through a restricted distribution system, first FDA approval of esketamine for any use. FDA PR link.

Kohl’s(PBR154 $KSS) in strategic collaboration with Planet Fitness(NYSE: PLNT) to open around 10 20,000-25,000 sf fitness centers adjacent to Kohl’s stores across the US in 2019. Planet Fitness PR link.

CarMax(PBR167) to create more than 300 jobs for their new Customer Experience Center opening in Peachtree Corners in the Atlanta, GA, area; CarMax Auto Finance headquarters in Kennesaw is hiring approximately 200 CAF customer service positions over the next 12 months. $KMX PR link.

Ross Stores(PBR208) authorizes new two year $2.55 billion share repurchase program, prior $1.95 billion program was completed in 01/19. $ROST PR link.

L Brands(PBR228) responds to letter from Barington Capital calling for a spin-off of Victoria’s Secret or an IPO of Bath & Body Works, reviews actions it has taken as a company to build shareholder value. $LB PR link.

L Brands(PBR228) gets letter from activist investor Barington Capital calling for spin-off of Victoria’s Secret or an IPO of Bath & Body Works. $LB PR link.

KKR(PBR672) completes $1.32 billion acquisition of BrightSpring which merged with PharMerica Corporation to become a leading provider of both home and community-based health and pharmacy services for high-need and medically complex populations. $KKR PR link.

GNC(PBR799) to integrate its manufacturing division through a strategic joint venture with International Vitamin Corporation, a global leader in vitamins and nutritional supplement manufacturing, GNC to receive around $176 million. $GNC PR link.

SunPower(PBR889) launches its Next Generation Technology home solar panel called A-Series, delivering 400 and 415 watts of power, the highest-power solar panels available today for the residential market, designed to deliver 60 percent more energy in the same amount of roof space over the first 25 years compared to conventional solar. $SPWR PR link.

Jones Lang LaSalle(PBR349) hires Stephanie Plaines as Global CFO, to be effective by 03/31/19. $JLL PR link.

Delek US(PBR379) promotes Assi Ginzburg to EVP/CFO of Delek US and Delek Logistics GP, succeeds Kevin Kremke who is assisting in the transition. $DK PR link.

Fortune Brands(PBR494) promotes President/Global Plumbing Group Nicholas Fink to newly created position of President/COO, Cheri Phyfer promoted to President/Global Plumbing Group. $FBHS PR link.

RH(PBR802) SVP/Finance & Chief Strategy Officer Jack Preston promoted to CFO, succeeds Ryno Blignaut who is stepping down for health considerations, will help with transition with resignation expected by 04/03/19. $RH PR link.

The US Dept of Treasury says US January 2019 Federal Government Receipts were $340.0 billion, Outlays $331.3 billion, Surplus$8.7 billion; Receipts YTD 2019(4 months) are at $1.111 trillion, Outlays YTD $1.421 trillion, Deficit YTD $310.3 billion, Deficit YTD 2018was at $175.7 billion. USTreasury PR link.

The US Dept of Commerce/HUD says US Preliminary December 2018 New Family Homes Sold Annual Rate is at 621,000 units, +3.7% from November 2018, -2.4% from December 2017; Median Price is at $318,600, +5.0% from November 2018, -7.2% from December 2017; New Houses Available Annual Rate is at 344,000, +3.0% from November 2018, +17.0% from December 2017. USDOC PR link.

The Institute for Supply Management says the US February 2019 Non-Manufacturing Index(>50%=Economy Growing) is at 59.7%, January 2019 was at 56.7%, December 201858.0%, February 2018 59.1%. ISM PR link.

The IHS Markit US February 2019 Composite PMI Output Index is at 55.5, January 2019 was at 54.4, December 2018 54.4, February 201855.8. IHS Markit PR link.

The PurdueU/CME Group US February 2019 Ag Barometer is at 136, January 2019 was at 143, December 2018 127, February 2018 140. PurdueU/CME Group PR link.

***Monday, March 4:

AT&T(PBR10 $T) WarnerMedia unit reorganization to consolidate all its affiliates and ad sales groups under one structure, with its units organized under entertainment networks, live programming, content production and affiliate and advertising sales, significant layoffs are expected as part of the reorganization.MarketWatch PR link.

Philip Morris(PBR34) becomes first international company to be certified globally for equal pay by the independent third-party EQUAL-SALARY Foundation. $PM PR link.

Eli Lilly(PBR120) will introduce a lower-priced version of Humalog® (insulin lispro injection 100 units/mL) in the US, providing diabetics an insulin option for 50% of the current Humalog list price. $LLY PR link.

Tesla(PBR132) CEO Elon Musk tweets that a Model Y unveil event is on March 14 at LA Design Studio, is an SUV about 10% larger than Model 3, will cost about 10% more, have slightly less range with same battery. $TSLA PR link.

Viacom(PBR223) completes $340 million acquisition of 12 million monthly active users free streaming television service in US Pluto TV. $VIA PR link.

Kellogg(PBR224)’s Morningstar Farms unit to convert its entire portfolio to be 100% plant-based (vegan) by 2021, will reduce the use of over 300 million egg whites annually, also introducing MorningStar Farms Cheezeburger, a vegan burger. $K PR link.

Biogen(PBR237) to acquire London, UK-based clinical-stage gene therapy company focused on adeno-associated virus (AAV) treatments for inherited retinal disorders Nightstar Therapeutics(NST; Nasdaq: NITE) for $25.50/share, around $800 million, to close by mid 2019. $BIIB PR link.

Office Depot(PBR280) and Alibaba Group(NYSE: BABA)’s Alibaba.com unit to launch A new co-branded online destination, “Office Depot on Alibaba.com”, focus is US small businesses. $ODP PR link.

GameStop(PBR310) approves new $300 million share repurchase authorization to replace the previous share repurchase authorization, which had $170 million remaining. $GME PR link.

Newmont Mining(PBR375) board unanimously determines that Barrick Gold(NYSE: GOLD) (TSX: ABX) unsolicited, all-stock negative premium proposal to acquire Newmont is not in its best interests, that the $12/share, $10 billion equity value all shares acquisition of Canadabased global gold producer Goldcorp(NYSE: GC) is a superior value. $NEM PR link.

Arthur J Gallagher(PBR445) to acquire the global aerospace retail and wholesale insurance broking division of London, UK-based Jardine Lloyd Thompson Group plc (JLT), to close in spring 2019. $AJG PR link.

Juniper Networks(PBR509) to acquire Mist Systems, a pioneer in cloud-managed wireless networks powered by Artificial Intelligence (AI), for $405 million cash, to close in fiscal year 2Q19. $JNPR PR link.

Scientific Games(PBR699) joint venture—Şans Girişim—won the 10-year exclusive sports betting IDDAA contract in Turkey, Europe’s largest state-sponsored sports betting market. $SGMS PR link.

Domino’s Pizza(PBR738) opens its global 16,000th store, located in Cheektowaga, NY. $DPZ PR link.

The Children’s Place(PBR892) wins bankruptcy auction to acquire intellectual property and related assets of Gymboree and Crazy 8 for $76 million in cash, includes trademarks, domain names, design rights, and customer databases. $PLCE PR link.

The Andersons(PBR615) President/Ethanol Group Michael Irmen to retire in 07/19, James Pirolli is successor, effective 04/01/19. $ANDE PR link.

The US Dept of Commerce/Census says US Preliminary December 2018 Total Construction Annual Rate-Residential was at $542.2 billion, Non-Residential $750.5 billion, Total $1.293 trillion, -0.6% from November 2018, +1.6% from December 2017. USDOC PR link.

Amazon(PBR5) decision to not build HQ2 in New York City because of backlash results in open letter from New York State Budget Director Robert Mujica citing why it was a good deal and the politics that caused it to fail. $AMZN PR link.

Kroger(PBR18) to stop accepting VISA(PBR144) cards at its Smith’s divisionstores starting 04/03/19, says excessive interchange and network fees exceed grocery store margins. $KR PR link.

NGL Energy(PBR163) completes acquisition of DCP Midstream(PBR332)‘s wholesale propane business, generally consisting of seven natural gas liquids terminals in the Eastern US, terms not disclosed. $NGL PR link.

PPG(PBR197) completes acquisition of Elverson, PA based 700+ employees globally in 10 plants manufacturer of low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction products and nonstick coatings for cookware, bakeware and small electric appliances Whitford Worldwide, terms not disclosed. $PPG PR link.

eBay(PBR298) announces initiatives including an operating review and the commencement of a strategic review of the Company’s portfolio of assets, including StubHub and eBay Classifieds Group, working collaboratively with investors Elliott Management, Starboard Value, and other significant shareholders, will include the addition of two new independent directors to the Board. $EBAY PR link.

Tower Intl(PBR872) completes around $290 million sale of its European Operations to privately owned French automotive supplier Financière SNOP Dunois S.A. $TOWR PR link.

Cimarex Energy(PBR883) completes $35/share, $1.6 billion cash & stock acquisition of Delaware pure-play Resolute Energy Corporation (NYSE: REN), includes long term debt of $710 million, adds 21,100 acres to Reeves County, TX, holdings. $XEC PR link.

ManTech Intl(PBR918) to acquire $98 million in revenues Kforce Government Solutions, Inc. (KGS), formerly a wholly-owned subsidiary of Kforce, Inc. for $115 million in cash, to close in 03/19. $MANT PR link.

Avery Dennison(PBR411) President/CEO Mitch Butier elected to replace retiring Chairman Dean Scarborough after 04/25/19 annual meeting. $AVY PR link.

Caesars Entertainment(PBR518) per agreement with around 10% stakeholder Icahn Enterprises(PBR127) replaces 3 directors, will add a fourth if a new CEO who is acceptable to new directors is not named within 45 days of the agreement. $CZR PR link.

Bristow Group(PBR958) SVP/CFO L. Don Miller named President/CEO, Brian Allman promoted to SVP/CFO. $BRS PR link.

ExxonMobil(PBR2) President/ExxonMobil Chemical Company John Verity to retire after 38 years with the company, SVP/Basic Chemicals Karen McKee named successor, effective 04/01/19. $XOM PR link.

Live Nation(PBR277) hires Ali Harnell as President and Chief Strategy Officer/Women Nation, a newly created division. $LYV PR link.

Lithia Motors(PBR285) Corporate Controller Tina Miller promoted to Chief Accounting Officer and Interim Principal Financial Officer. $LAD PR link.

The US Dept of Commerce/BEA says US Preliminary January 2019 Personal Income Annual Rate is at $17.993 trillion, Preliminary December 2018 was $18.017 trillion, November 2018 $17.838 trillion, January 2018 $17.258 trillion. USDOC PR link.

The Institute for Supply Management US February 2019 Manufacturing PMI Index is at 54.2%, January 2019 was at 56.6%, December 2018 54.1%, February 2018 60.8%. “Comments from the panel reflect continued expanding business strength, supported by notable demand and output, although both were softer than the prior month…” ISM PR link.

The IHS Markit US February 2019 Manufacturing PMI is at 53.0, January 2019was at 54.9, December 2018 53.8, February 2018 55.3. “Midway through the first quarter of 2019, manufacturing firms indicated a solid, albeit softer, improvement in the health of the sector, with the index registering its lowest level for 18 months.” IHS Markit PR link.

Automotive News says US February 2019 Total Light Vehicles Sold were at 1,268,571, -2.9% from February 2018, Seasonally Adjusted Annual Rate is 16,610,000, Average Transaction Price was $34,565, Average Incentive Outlay $3,721. “U.S. light-vehicle sales fell 2.9 percent in February as severe winter weather, lingering effects of the temporary U.S. government shutdown and anxiety over federal tax refunds curtailed showroom traffic.” Automotive News PR link.

The U of Michigan US Final February 2019 Consumer Sentiment Index is at 93.8, January 2019 was at 91.2, December 2018 98.3, February 2018 99.7. “While the overall level of confidence remains diminished, it is still quite positive.” UMichigan PR link.

***Thursday, February 28:

The PBRMarketTools US Stock Exchanges Recap for February 2019 ending 02/28/19:

DJIA ends February at 25,916.00, -0.44% from last Friday, +3.67% MTD, +11.10% QTD/YTD, -3.40% from record 26,743.50 set 09/21/18.

NASDAQ ends February at 7,532.53, +0.07% from last Friday, +3.44% MTD, +13.52% QTD/YTD, -7.12% from record 8,109.69 set 08/29/18.

SPX ends February at 2,784.49, -0.29% from last Friday, +2.97% MTD, +11.08% QTD/YTD, -4.99% from record 2,930.75 set 09/20/18.

The February 2019 US Stock Exchanges Recap:
It was easily another overwhelming month for The Stock Market Bull as all major US exchanges finished up 3% or more and over their November 2018 closes prior to the December collapse. On occasion The Stock Market Bear would make an appearance for a day now and then, and did have a run of 3 days at the end of the month, but with only moderate margins.

The Month 2 YTD tally is:
The Stock Market Bull: 2 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.

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

The PBR1000 Spotlight: Autodesk, Inc(NASDAQ: ADSK)

March 21, 2019 by admin

Autodesk, Inc

(NASDAQ: ADSK)(PBR865)

Business Description:

Autodesk® helps people imagine, design and create a better world. Everyone—from design professionals, engineers and architects to digital artists, students and hobbyists—uses Autodesk® software to unlock their creativity and solve important challenges.

Headquarters:

AutoDesk, Inc
111 McInnis Pkwy
San Rafael, CA 94903
415-507-5000

Website Hotlink: Autodesk logo above or www.Autodesk.com

Social Media:

The PBR1000 Rank by Revenue: 865 (As of 02/28/19)
The PBR1000 Rank by Market Capitalization: 160 (As of 02/28/19)
SIC: 7372-SERVICES-PREPACKAGED SOFTWARE
Stock Symbol: NASDAQ: ADSK
Year Started: 1982
Fiscal Year End Month: January

Autodesk Analytics

Fiscal Year End:	2015	2016	2017	2018	2019
Revenues($MM)	$2,512	$2,504	$2,031	$2,057	$2,570
Profits($MM)	$82	($331)	($582)	($567)	($81)
Profits/Revenues	3.26%	(13.22%)	(28.66%)	(27.56%)	(3.15%)
Market Capitalization($B)	$12.78	$10.55	$18.10	$25.24	$32.24
Earnings Per Share(Basic)	$0.36	($1.46)	($2.61)	($2.58)	($0.37)
Wtd Avg Shares(MM, Basic)	227.1	226.0	222.7	219.5	218.9
Dividend Per Share	$ 0.0000	$ 0.0000	$ 0.0000	$ 0.0000	$ 0.0000
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Total Yield	5.38%	(13.30%)	73.73%	42.14%	27.31%
Price/Earnings Ratio	150.0	(32.1)	(31.2)	(44.8)	(397.8)
Assets($MM)	$4,910	$5,515	$4,798	$4,114	$4,729
Profits to Assets	1.67%	(6.00%)	(12.13%)	(13.78%)	(1.71%)
Equity($MM)	$2,219	$1,620	$734	($276)	($211)
Equity to Assets	45.19%	29.37%	15.30%	(6.22%)	(4.46%)
Profits to Equity	3.70%	(20.43%)	(79.29%)	221.48%	38.39%
Cash Flow from Ops($MM)	$709	$414	$170	$1	$377
Employees	8,823	9,500	9,000	8,800	9,000


Calendar Quarter End:	1Q	2Q	3Q	4Q
ADSK Stock Price(2014)	$49.18	$56.38	$55.10	$60.06
ADSK Stock Price(2015)	$58.64	$50.08	$44.14	$60.93
ADSK Stock Price(2016)	$58.31	$54.14	$72.33	$74.01
ADSK Stock Price(2017)	$86.47	$100.82	$112.26	$104.83
ADSK Stock Price(2018)	$125.58	$131.09	$156.11	$128.61

Current ADSK Stock Price and Analyst Estimates
(Overweight(26 estimates on 03/19/19, 15 Buy, 3 Overweight, 5 Hold, 2 Underweight, 1 Sell.))

Top ADSK Shareholders

CEO Biography (Andrew Anagnost, President/CEO since June 2017.)

CFO Biography (Scott Herren, SVP and Chief Financial Officer)

Executive Team & Board Members

SEC Filings

January 2018 10-K Report

October 2018 3Q19 10-Q Report

February 28, 2019: 4Q19 Earnings Conference Call

Investor Relations

News Releases

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Current ADSK Stock Price and Analyst Estimates are provided by:

This The PBR1000 Spotlight is provided by:

(Last Updated: 03/19/19)

Filed Under: Spotlight Tagged With: ADSK, Business Intelligence, Investing, Leadership, Market Research, Money, NASDAQ, Personal Finance, Rankings, Stock Market, Stocks, The PBR1000, Trading, Wealth Management

The PBR1000 February 2019 Stocks & Commodities Snapshots

March 4, 2019 by admin

February 2019 The PBR1000: A Sweetheart of a Month for The Stock Market Bull

February was another good month for The Stock Market Bull, some experts say he has a lot more ahead of him in 2019, some predict The Stock Market Bear will catch up to him.

By Larry C. Paxton

The February 2019 US Stock Exchanges Summary: It was easily another overwhelming month for The Stock Market Bull as all major US exchanges finished up 3% or more and over their November 2018 closes prior to the December collapse. On occasion The Stock Market Bear would make an appearance for a day now and then, and did have a run of 3 days at the end of the month, but with only moderate margins.

The Month 2 YTD tally is:
The Stock Market Bull: 2 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

The February 2019 US Major Stock Market Exchanges Summary

Number of Trading Days: 19

Number of Gain(+)/Loss(-) Days: DJIA 11+/9-; NASDAQ 13+/6-; SPX 12+/7-.

Record Days: None

Longest Gain Streak(Consecutive Days): DJIA 3 days(02/01-05/19, 02/15-20/19), NASDAQ 8 days(02/08-20/19), SPX 5 days(01/30-02/05/19)

Longest Loss Streak(Consecutive Days): DJIA 4 days(02/06-11/19), NASDAQ 2 days(02/06-07/19), SPX 3 days(02/26-28/19)

Big Swing Up Days(>1.00%): 3 days (02/04/19(N +1.15%), 02/12/19(D +1.49%, N +1.46%, S +1.29%), 02/15/19(D +1.74%, S +1.09%))

Big Swing Down Days(<-1.00%): 1 day (02/07/19(N -1.18%)

The PBR1000 February 2019 Snapshots

The following are Top 5 partial tables excerpts from The PBR1000 February 2019 Snapshots. The price for stocks is for the close of trading on February 28, 2019, Month % Chg is compared to January 31, 2019, YTD % Chg is compared to December 31, 2018, and the 14 Months % Chg is compared to December 29, 2017. The PBR Rank is by annual revenues.

To get the complete The PBR1000 Snapshots just click here to get your 12 month subscription and automatically download the February 2019 edition with the complete 15 Snapshots and 27 rankings and the bonus The PBRMarketTools US Monthly Indices Snapshots.

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

Table 1 Summary: The range was +116% to -87%. 721 out of 1,000 stocks were up 0% or more. The average was a gain of +3.22%, the median was a gain of 3.84%. The DJIA was +3.67%, NASDAQ +3.44%, SPX +2.97%.

Company	PBR Rank	Symbol	Price 02/28/19	Mo % Chg	YTD % Chg	14Mos % Chg
Diebold Nixdorf	530	DBD	$ 9.19	+116	+269	-44
iHeartMedia	444	IHRTQ	$ 1.01	+110	+130	+102
Sears Holdings	170	SHLDQ	$ 0.88	+73	+226	-75
Pyxus Intl	895	PYX	$ 26.99	+66	+128	+104
Pier 1 Imports	905	PIR	$ 1.35	+65	+335	-67

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 2 Summary: The range was +165% to -45%. 936 out of 1,000 stocks were up 0% or more. The average was a gain of +9.33%, the median was a gain of 10.88%. The DJIA was +7.17%, NASDAQ +9.74%, SPX +7.87%.

Company	PBR Rank	Symbol	Price 02/28/19	Mo % Chg	YTD % Chg	14 Mos % Chg
Pier 1 Imports	905	PIR	$ 1.35	+65	+335	-67
Diebold Nixdorf	530	DBD	$ 9.19	+116	+269	-44
Sears Holdings	170	SHLDQ	$ 0.88	+73	+226	-73
Ferrellgas	863	FGP	$ 1.41	+16	+161	-67
FannieMae	21	FNMA	$ 2.68	+6	+153	+1

Table 3(S13): The PBR1000 Top 5 14 Months Stock Price % Gainers

Table 3 Summary: The range was +228% to -96%. 442 out of 999 stocks were up 0% or more. The average was a gain of 0.94%. The median was a loss of 3.53%. The DJIA was +4.84%, NASDAQ +9.11%, SPX +4.15%.

Company	PBR Rank	Symbol	Price 02/28/19	Mo % Chg	YTD % Chg	14 Mos % Chg
BlueLinx	896	BXC	$ 32.04	+10	+30	+228
Square	846	SQ	$ 81.24	+14	+45	+134
AMD	490	AMD	$ 23.53	-4	+27	+129
Insperity	671	NSP	$ 126.27	+18	+35	+120
Chipotle	537	CMG	$ 607.53	+15	+41	+110

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

Table 4 Summary: The range was $840 billion to $0.03 billion. The average is $25.787 billion, median is $7.50 billion, out of 1,000 companies.

Company	PBR Rank	Symbol	Market Cap($B) 02/28/19	Mo % Chg	YTD % Chg	14 Mos % Chg
Microsoft	23	MSFT	$ 860 B	+7	+12	+30
Apple	3	AAPL	$ 816 B	+4	+10	-7
Amazon	5	AMZN	$ 805 B	-4	+11	+45
Alphabet	15	GOOG	$ 779 B	+0	+8	+7
Berkshire Hathaway	4	BRKB	$ 498 B	-2	+8	+7
The PBR1000			$ 26,404 B	-2	-0	+1

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

Company	Price 02/28/19	Mo % Chg	YTD % Chg	14 Mos % Chg
The PBR1000	86,556.60	+3.2	+12.9	+0.9
DJIA	25,916.00	+3.7	+11.1	+4.8
NASDAQ	7,532.53	+3.4	+13.5	+9.1
S&P500	2,784.49	+3.0	+11.1	+4.2
GOLD	1,314.90	-0.6	+2.4	+0.8
SILVER	15.64	-2.1	+0.5	-7.9
OIL	57.45	+6.7	+25.4	-4.4

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PBRMarketTools.com provides The PBR1000, a compilation of 1,000 of the largest publicly held companies with primary operations in the US. These companies generate $14 trillion in annual revenues, more than all other US companies combined. The PBR1000 Monthly Snapshots provides these 1,000 companies in Excel format, includes 15 worksheets with 26 rankings, over 200 data/information points, hotlinks to key data, and important news items per company. This service is used by astute business professionals and shrewd investors worldwide.

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The PBR1000 February 2019 Breaking News Recap

March 2, 2019 by admin

Annual US corporate earnings and 2019 guidance featured many interesting strategies to cope with the current volatility of trade policies, world events, and US politics.

By Larry C. Paxton

The February 2019 News Summary: There is still a feeling of optimism for the US/China trade negotiations, the US tariffs have been delayed as a result, but very few specifics have been made available. The US/N Korea talks were not as productive however, with no commitment by N Korea regarding denuclearization. Corporate earnings for 2018 were somewhat mixed, but positive for many key companies. Several companies announced restructuring and strategic alternatives initiatives and it was an active month for share buyback programs. There was some mergers & acquisitions activity, most notably the SunTrust/BB&T $66 billion all stock merger. Economic news was also somewhat mixed, but results and forecasts indicate an economy that continues to grow at a moderate pace as it appears the rest of the world will be slowing down. The initial estimate for the 4Q18 GDP was at +2.6%, better than anticipated. The Federal Reserve has backed off increasing short term federal funds rates and changed its assessment of the US economy from “strong” to “solid.” With the houses split politically and it still being early in the year, the US Congress has not produced much legislation, but did pass a spending bill. The 2020 US election races are starting to heat up with a lot of horses lining up for the Democratic presidential nomination.

***Thursday, February 28:

The PBRMarketTools US Stock Exchanges Recap for February 2019 ending 02/28/19:

DJIA ends February at 25,916.00, -0.44% from last Friday, +3.67% MTD, +11.10% QTD/YTD, -3.40% from record 26,743.50 set 09/21/18.

NASDAQ ends February at 7,532.53, +0.07% from last Friday, +3.44% MTD, +13.52% QTD/YTD, -7.12% from record 8,109.69 set 08/29/18.

SPX ends February at 2,784.49, -0.29% from last Friday, +2.97% MTD, +11.08% QTD/YTD, -4.99% from record 2,930.75 set 09/20/18.

The Month 2 YTD tally is:
The Stock Market Bull: 2 months
The Stock Market Bear: 0 months
Mixed Results: 0 months

Amazon(PBR5) introduces Amazon Day service, for Prime members, can specify day you would like to receive your week’s purchases, in support of Shipment Zero project. $AMZN PR link.

Target(PBR38) and lifestyle apparel brand best known for its smiling pink whale logo vineyard vines doing a limited-edition collaboration, collection includes 300+ unique items spanning home and outdoor goods, pets, as well as apparel, accessories and swim for the entire family, price range is $2-$120, most items under $35. $TGT PR link.

Tesla(PBR132) announces standard Model 3 now available for target price of $35,000, 220 miles of range, top speed of 130 mph and 0-60 mph acceleration of 5.6 seconds, upgrade options available, shifting sales worldwide to online only, with some stores to remain open as galleries. $TSLA PR link.

Southwest Airlines(PBR136 $LUV) files a lawsuit accusing mechanics union workers of reporting trivial maintenance issues in an effort to take planes out of service and gain an advantage in contract negotiations. MarketWatch PR link.

Bristol-Myers Squibb(PBR140) shareholders get open letter from activist investor Starboardsaying why it is not voting for the Celgene(PBR220) $74 billion acquisition. $BMY PR link.

Bristol-Myers Squibb(PBR139) responds to letter from activist investor Starboard which says it will vote against $74 billion acquisition of Celgene(PBR220), provides benefits statements for the acquisition. $BMY PR link.

NGL Energy(PBR163) completes $238.8 million sale of its South Pecos Water Disposal Assetsto WaterBridge Resources. $NGL PR link.

PG&E(PBR166) to take $10.5 billion charge related to 2018 Camp Fire and additional $1.0 billion charge related to 2017 N California wildfires, states certain conditions exist which raise substantial doubt about PG&E Corporation’s and the Utility’s ability to continue as going concerns. $PCG PR link.

Gap Inc(PBR179) to separate into two independently traded companies, family apparel brand Old Navy and a yet-to-be named company, which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City, to be completed in 2020. $GPS PR link.

L Brands(PBR228 $LB) to close 53 Victoria’s Secret stores in 2019, still has over 950 stores in the US. CNN PR link.

JCPenney(PBR232) releases 4Q18 results, will close 18 full-line stores in 2019, to close 9 ancillary home and furniture stores, expects positive free cash flow in 2019. $JCP PR link.

Michaels Cos(PBR489) hires Mark Cosby as Interim CEO, succeeds Chuck Rubin who has mutually agreed with the Board to transition out, will remain Chairman until 04/01/19, new CEO search starts. $MIK PR link.

Stericycle(PBR635) President/COO Cindy Miller to become President/CEO, effective 05/02/19, succeeds retiring Charles Alutto; CFO Daniel V. Ginnetti will transition to EVP/International upon appointment of successor. $SRCL PR link.

Delta(PBR66) Chief Marketing and Communications Officer Ned Walker to retire on 05/01/19 after 35 years with the company, Tim Mapes named successor. $DAL PR link.

JCPenney(PBR232) hires Michelle Wlazlo as EVP/Chief Merchant. $JCP PR link.

The US Dept of Commerce says the US 4Q18 Advance Estimate Real Gross Domestic Product Annual Rate is +2.6%, $20.891 trillion, +1.1% from 3Q18, +5.3% from 4Q17. USDOC PR link.

The US Dept of Treasury says US National Debt-Public on 02/27/19 was at $16.212 trillion, Intragovernmental Holdings $5.862 trillion, Total Debt $22.074 trillion, +0.4% from 01/31/19, +0.5% YTD(2 months), +5.8% from 02/28/18. USTreasury PR link.

The US Dept of Treasury says US 10 Year Treasury Note on 02/28/19 finished at 2.73%, 01/31/19 was at 2.63%, 12/31/18 2.69%, 02/28/18 2.87%. USTreasury PR link.

The US Dept of Labor says the US Initial Unemployment Insurance Claims 4 Week Moving Average for Week Ending 02/23/19 is at 229,000, +4.0% from 01/26/19, +2.7% from 02/24/18; Total Insured Unemployment 4 Week Moving Average for Week Ending 02/16/19 is at 1,761,750, +1.4% from 01/19/19, -7.0% from 02/24/18, Uninsured Employment Rate is at 1.3%. USDOL PR link.

The US Dept of Commerce/Census says US 4Q18 Total Housing Units was at 138,858,000, 122,469,000 occupied, for an Occupancy Rateof 88.2%, Homeownership Rate is at 64.8%. USDOC PR link.

The MNI February 2019 Chicago Business Barometer(>50 is Gaining) is at 64.7, January 2019 was at 56.7, December 2018 63.8, February 2018 61.9. MNI PR link.

Freddie Mac(PBR37) says US 30 Year Fixed Mortgage Rates Average on 02/28/19 was at 4.35% with 0.5 fees/points, 01/31/19 was at 4.46%, 12/27/18 4.55%, 02/22/18 4.40%. $FMCC PR link.

The American Automobile Assn says US National Average for a Gallon of Gas on 02/28/19 was at $2.413, +6.8% from 01/31/19, -4.6% from 02/28/18. AAA PR link.

***Wednesday, February 27:

FedEx(PBR42) announces FedEx SameDay Bot, an autonomous delivery device designed to help retailers make same-day and last-mile deliveries to their customers, being developed in collaboration with DEKA Development & Research Corp. and its founder Dean Kamen, inventor of many life-changing technologies, including the iBot™ Personal Mobility Device and the Segway®. $FDX PR link.

Best Buy(PBR63) authorizes new $3 billion share repurchase program, replaces the 02/17 existing authorization, had $1.5 billion in purchases remaining. $BBY PR link.

TJX Cos(PBR79) to repurchase approximately $1.75 to $2.25 billion of TJX stock during the fiscal year ending 02/01/20. $TJX PR link.

Blackstone(PBR387) Life Sciences unit provides $250 million in funding in joint venture with Novartis to form Anthos Therapeutics, a new biopharmaceutical company focused on advancing next-generation targeted therapies for high-risk cardiovascular patients. $BX PR link.

Endo Intl(PBR641) terminates around $190 million acquisition of Somerset Therapeutics, LLC, a New Jersey based specialty pharmaceutical company, and the business of its India-based affiliate Wintac Limited, which operates as Somerset Therapeutics’ contract developer and manufacturer, not getting India approvals on a timely basis. $ENDP PR link.

WABCO(PBR669) confirms that it has been approached by ZF Friedrichshafen AG and has engaged in preliminary discussions concerning a potential transaction. $WBC PR link.

DSW(PBR735) expanding its partnership with W Nail Bar to add nail salons to five additional retail locations in Austin, TX, Washington DC and Dublin, OH, an expansion of nail services test in Columbus, OH, locations. $DSW PR link.

Middleby(PBR819) to acquire $100 million/year in revenues Cooking Solutions Group, consists of the well-known brands APW Wyott®, Bakers Pride®, BKI® and Ultrafryer®, from Standex International Corporation (NYSE: SXI). $MIDD PR link.

Pyxus(PBR895) promotes Tracy G. Purvis to EVP/Business Services. $PYX PR link.

Ocwen Financial(PBR992) hires June C. Campbell as CFO, effective 03/04/19; Joseph J. Samarias will assume the role of EVP and General Counsel, effective 04/01/19, succeeds Timothy M. Hayes who is retiring. $OCN PR link.

The US Dept of Commerce/Census says US Preliminary December 2018 New Orders-Durable Goods were at $254.1 billion, Non-Durable Goods $245.8, Total $499.9 billion, +0.1% from November 2018, +2.4% from December 2017. USDOC PR link.

The US Energy Information Administrationsays US Crude Oil Stocks on 02/22/19 were at 445.9 Millions of Barrels, +0.0% from 01/25/19, +5.3% from 02/23/18. EIA PR link.

***Tuesday, February 26:

Walmart(PBR1) announces intent to achieve 100 percent recyclable, reusable or industrially compostable packaging for its private brand packaging by 2025, names additional goals. $WMT PR link.

ExxonMobil(PBR2) added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, now has 24.3 billion barrels in proven reserves for life of 17 years at current production rates. $XOM PR link.

AT&T(PBR10) merger with Time Warner upheld by DC Circuit Court. $T PR link.

GE(PBR19) Chairman/CEO Larry Culp sends first annual letter to shareholders, goal is to return GE to a position of strength, focus on team, technology, and global network, working on improving financial position, strengthening business starting with Power. 2018 10-K shows worldwide employees at 283,000 with 97,000 in the US, 2017 had 313.000 employees with 106,000 in the US. $GE PR link.

Boeing(PBR29) acquisition of 80% stake for $4.2 billion in joint venture with Brazil based Embraer(B3: EMBR3, NYSE: ERJ) gets Embraer shareholders approval, to close by end of 2019. $BA PR link.

Marriott Intl(PBR119) projecting to open more than 30 luxury properties around the globe across its 8 luxury brands in 2019. $MAR PR link.

Tesla(PBR132) CEO Elon Musk gets two weeks by judge to explain why he shouldn’t be held in contempt for his unauthorized tweet saying Tesla would produce 500,000 vehicles in 2019. $TSLA PR link.

Gap Inc(PBR179) authorizes new $1.0 billion share repurchase program, supersedes 02/25/16 existing authorization. $GPS PR link.

Newell Brands(PBR198) in Accelerated Transformation Plan to sell its $123 million in sales in 2018 Rainbow® indoor environments products developer and manufacturer Rexair to global private equity firm Rhone Capital, to close 2Q19, terms not disclosed. $NWL PR link.

Ameriprise(PBR243) authorizes additional $2.5 billion for share repurchase program through 03/31/21, current authorization with $500 million remaining expires 06/30/19. $AMP PR link.

Campbell Soup(PBR327) to sell its Ferndale, MI-based No. 1 branded refrigerated salsa in the US Garden Fresh Gourmet unit, also makes, sells and distributes hummus, dips and tortilla chips, to a Fountain of Health USA affiliate, to close in fiscal 3Q19, terms not disclosed. $CPB PR link.

Wynn Resorts(PBR401) says “The completion of the review by Nevada regulators is an important step forward, and we deeply appreciate the trust and confidence they have placed in the new leadership of Wynn Resorts to ‘grow and prosper.’” Provides review of actions it has taken since departure of Steve Wynn for sexual misconduct. $WYNN PR link.

Vitamin Shoppe(PBR995) to open around 30 popup stores in Navy Exchange Serviceslocations by end of 2019, will carry 300+ items. $VSI PR link.

Arconic(PBR222) hires Neil Marchuk as EVP/Human Resources effective 03/01/19. $ARNC PR link.

The US Congressional Budget Office projects that if the debt limit is not raised or suspended again after it is automatically reset on 03/02/19, the Treasury will probably run out of cash near the end of fiscal year 2019 or early in fiscal year 2020. CBO PR link.

The US Dept of Commerce/HUD says US Preliminary December 2018 Private Housing Building Permits Issued Annual Rate is at 1,326,000, +0.3% from November 2018, +0.5% from December 2017. USDOC PR link.

The Federal Reserve Bank of Richmond Fifth District February 2019 Manufacturing Index(Annualized) is at +16%, January 2019was at -2%, December 2018 -8%. “Firms remained optimistic that conditions would continue to improve in the next six months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond Fifth District February 2019 Service Sector Revenue Index(Annualized) is at +17%, January 2019 was at +6%, December 2018+10%. “Firms were optimistic that conditions would continue to improve in the near future.” RichmondFed PR link.

The S&P CoreLogic Case-Shiller US December 2018 National Home Price Index(Jan2000=100) is at 212.96, November 2018 was at 213.45, October 2018 213.77, December 2017 204.42. Case-Shiller PR link.

The Conference Board US Preliminary February 2019 Consumer Confidence Index is at 131.4, January 2019 was at 121.7. “Looking ahead, consumers expect the economy to continue expanding. However, according to The Conference Board’s economic forecasts, the pace of expansion is expected to moderate in 2019.” The Conference Board PR link.

***Monday, February 25:

Berkshire Hathaway(PBR4) Chairman Warren Buffett releases the highly anticipated annual letter to shareholders, covers a wide range of issues. $BRKB PR link.

GE(PBR19) completes spin-off of Transportation Systems unit and its merger with Wabtec(PBR595), GE receives around $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec. $GE PR link.

50+ Microsoft(PBR22 $MSFT) employees sign letter saying they don’t want the US Army to use their products for war, protest a contract supplying the military with HoloLens headsets. MarketWatch PR link.

Bank of America(PBR25) to continue new branding as Bank of America, Merrill to be sub-brand for its investing and wealth management offerings. $BAC PR link.

Target(PBR38) introduces new labels Auden, Stars Above and Colsie for bras, panties and sleepwear, available in stores and online. $TGT PR link.

Facebook(PBR67) releases a blog post regarding health issues for its content review practices, including for contract reviewers. $FB PR link.

Tesla(PBR132 $TSLA) CEO Elon Musk tweet about 500,000 vehicles to be produced in 2019 gets US Securities and Exchange Commission to ask a federal judge to hold Musk in contempt, says tweet had not been pre-approved, as required by company policy and a court order; Musk replies in a tweet that he had indicated 350,000 to 500,000 vehicles. MarketWatch PR link.

Danaher(PBR158) to acquire the Biopharmabusiness of bioprocessing technologies and solutions provider GE(PBR19) Life Sciences unit for around $21.4 billion cash, expects to generate around $3.2 billion in revenues in 2019, to close in 4Q19. $DHR PR link.

Bausch Health(PBR326) gets US FDA approval for LOTEMAX® SM (loteprednol etabonate ophthalmic gel) 0.38%, a new gel formulation for the treatment of postoperative inflammation and pain following ocular surgery. $BHC PR link.

Newmont Mining(PBR375) gets unsolicited proposal from Barrick Gold, Newmont reiterates it remains confident that the current proposed combination of Newmont and Goldcorprepresents the best opportunity. $NEM PR link.

Regeneron(PBR462) and Sanofi strongly disagree with certain aspects of Delaware US District Court jury verdict upholding the validity of three of the five asserted claims of two Amgen(PBR121) US patents covering antibodies targeting PCSK9 (proprotein convertase subtilisin/kexin type 9), will appeal. $REGN PR link.

Windstream(PBR463) and all subsidiaries file voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code, filing result of court decision against Windstream on 02/15/19 regarding spinoff of certain telecommunications network assets into a real estate investment trust that was ruled invalid, has received a commitment from Citigroup Global Markets Inc. for $1 billion in debtor-in-possession financing. $WIN PR link.

Avon Products(PBR469) appoints global creative production company MediaMonks to support its Representative’s growing use of ecommerce and digital tools with a new Content Studio, looking to develop 12,000 content assets annually for Avon’s 50+ worldwide markets. $AVP PR link.

Caesars Entertainment(PBR518) will offer sports-tech entertainment provider DraftKings market access for its online gaming products in multi-state agreement. $CZR PR link.

Rush Enterprises(PBR525) completes formation of 50/50 joint venture with Tallman Group, the largest International Truck dealer in Canada with around $485 million in sales in 2018, will be named Rush Truck Centres of Canada Limited. $RUSHB PR link.

Marathon Oil(PBR551) to exit the UK business with divestitures of its two assets for $140 million, to close in 2H19. $MRO PR link.

Quad/Graphics(PBR573) $1.4 billion all shares acquisition of print and digital media solutions provider LSC Communications(PBR631) gets approval by shareholders of both companies, to close 2H19. $QUAD PR link.

Colfax(PBR670) completes $3.15 billion in cash acquisition of global orthopedic devices, software and services provider DJO Global from private equity funds managed by Blackstone(PBR387). $CFX PR link.

The US Dept of Commerce/Census says US Preliminary December 2018 Wholesale Sales-Durable Goods were at $245.6 billion, Nondurable Goods $251.5 billion, Total $497.1 billion, -1.0% from November 2018, +1.0% from December 2017. USDOC PR link.

The Federal Reserve Bank of Chicago says the US Preliminary January 2019 Composite Natl Activity Index is at -0.43, December 2018was at +0.05, November 2018 +0.36, January 2018 -0.29. ChiFed PR link.

***Friday, February 22:

The PBRMarketTools US Stock Exchanges Recap for Week 8 ending 02/22/19:

DJIA ends the week at 26,031.81, +0.57% from last Friday, +4.13% MTD, +11.59% QTD/YTD, -2.97% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 7,527.54, +0.74% from last Friday, +3.38% MTD, +13.45% QTD/YTD, -7.18% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,792.67, +0.62% from last Friday, +3.28% MTD, +11.40% QTD/YTD, -4.71% from record 2,930.75 set 09/20/18.

The Week 8 US Stock Exchanges Recap:
The Stock Market Bull and The Stock Market Bear took Monday off in observance of the birthday of first US president and founding father George Washington. Tuesday and Wednesday The Stock Market Bulltook charge of the pasture, but on Thursday The Stock Market Bear sunk his claws deep enough to be in the lead. But on Friday The Stock Market Bull recovered nicely, won Week 8 3-0, and continues his unbeaten streak for 2019.

The Week 8 YTD tally is:
The Stock Market Bull: 7 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

The Week 8 News Summary: There was a feeling of optimism about the US/China trade negotiations, though very few specifics were mentioned to the public. Corporate earnings continued to be mixed. Economic news was also mixed, existing home sales were down, but builder confidence was up. The Federal Reserve Open Market Committee minutes from the last meeting indicated a wait and see attitude for any further federal funds rate increases in the near future and changed its assessment of the US economy from “strong” to “solid.”

Newmont Mining(PBR374) $12/share, $10 billion equity value all shares acquisition of Canada based global gold producer Goldcorp(NYSE: GC) gets Ontario Superior Court of Justice (Commercial List)interim order, allows Goldcorp to proceed with shareholder meeting scheduled for 04/04/19. $NEM PR link.

Magellan Health(PBR464) shareholders get letter from 9.8% stake investor Starboard, says Magellan has underperformed, should consider sale, nominates 6 people for Board. $MGLN PR link.

Magellan Health(PBR464) responds to 9.8% stake investor Starboard, says will consider director suggestions. $MGLN PR link.

AutoNation(PBR130) hires Carl Liebert as President/CEO, Chairman/President/CEO Mike Jackson to become Executive Chairman, effective 03/11/19. $AN PR link.

Beacon Roofing(PBR423) President/CEO Paul Isabella will leave the Company later this fiscal year, will remain an advisor, new CEO search starts. $BECN PR link.

TrueCar’s ALG forecasts US February 2019 New Vehicle Sales will reach 1,268,141 units, down 2.6% from a year ago, seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.6 million units for the month, Average Incentive Spending by automakers will reach an estimated $3,653 per vehicle in February, down $30 or 0.8% from a year ago, and up 3.0% or $108 from January 2019, estimates Average Transaction Price(ATP) $34,565, up 3.0% from a year ago while incentives as a percentage of ATP was at 10.6% down 3.7% year-over-year. TrueCar PR link.

***Thursday, February 21:

Ford(PBR11) investigating process for US emissions certification concerning road load per concern voiced by a handful of employees through its Speak Up program. $F PR link.

Alphabet(PBR21 $GOOG)’s Google unit to end forced arbitration for all worker disputes, takes effect on 03/21/19. Associated Press PR link.

Kraft Heinz(PBR104) in 4Q18 report says recorded non-cash impairment charges of $15.4 billion to lower the carrying amount of goodwill in certain reporting units, primarily US Refrigerated and Canada Retail, and certain intangible assets, primarily the Kraft and Oscar Mayer trademarks, says it received a subpoena in October 2018 from the US Securities and Exchange Commission associated with an investigation into the Company’s accounting policies, procedures, and internal controls related to its procurement function. $KHC PR link.

Tesla(PBR248 $TSLA) Model 3 loses Consumer Reports recommendation over reliability issues, Tesla says vast majority of issues have already been corrected through design and manufacturing improvements. Consumer Reports PR link.

Group 1 Automotive(PBR261) increases share repurchase program to $75 million. $GPI PR link.

Campbell Soup(PBR327) to sell its 225,000 sf Everett, WA, refrigerated soup plant to affiliate of Seattle-based private investment company Joshua Green Corp, terms not disclosed, to close 3Q19. $CPB PR link.

Wabtec(PBR596) to complete acquisition of GE(PBR19 $GE) spin-off Transportation Systems on 02/26/19, Wabtec to become member of S&P 500 on 02/27/19 replacing Goodyear Tire(PBR186 $GT) which will replace Wabtec on the S&P Mid Cap 400. $WAB PR link.

Pinnacle West(PBR636)’s Arizona Public Service subsidiary to add 850 megawatts of battery storage and at least 100 megawatts of new solar generation by 2025, for a total of 950 megawatts of new clean-energy technology. $PNW PR link.

Vail Resorts(PBR869) to purchase the ski fields at Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, Australia, for around $124 million, expects 1st year revenues of around $13 million, to close prior to 06/19, the start of ski season. $MTN PR link.

Rowan Cos(PBR978) $12 billion all-stock merger with UK based Ensco plc(NYSE: ESV)gets shareholders approval at both companies, to close 1H19. $RDC PR link.

Pioneer Natural Resources(PBR479) CEO Timothy L. Dove retires, Chairman and founding CEO Scott D. Sheffield named CEO, Lead Director J. Kenneth Thompson becomes Chairman, all effective immediately. $PXD PR link.

Caesars Entertainment(PBR517) in 4Q18 report says President/CEO Mark Frissora extending his departure date from 02/08/19 to 04/30/19 to aid in transition, company may extend for up to 1 month. $CZR PR link.

MGM Resorts(PBR267) CFO Dan D’Arrigo to take advantage of voluntary resignation program, COO Corey Sanders to become CFO, President Bill Hornbuckle to add COO role, all effective 03/01/19. $MGM PR link.

Wyndham Destinations(PBR504) names Oliver Chavy to President/RCI Exchanges, a vacation exchange serving approximately 3.8 million members and more than 4,300 affiliated vacation ownership resorts. $WYND PR link.

The Federal Reserve Bank of Philadelphiasays the US 3rd District Preliminary February 2019 Manufacturing General Activity Indicatoris at -4.1, first negative reading since 05/16, January 2019 was at +17.0, December 2018+9.1, February 2018 +28.1. “… firms’ responses indicated weaker conditions in the region’s manufacturing sector this month… survey’s future indexes indicate that respondents continue to expect growth over the next six months.” PhillyFed PR link.

The Natl Assn of Realtors says the US Preliminary January 2019 Existing Home Sales Inventory Annual Rate is at 4,940,000 homes, -1.2% from December 2018, -8.5% from January 2018; January 2019 Median Existing Home Price was $247,500, -2.4% from December 2018, +2.8% from January 2018. “Existing home sales in January were weak compared to historical norms; however, they are likely to have reached a cyclical low. Moderating home prices combined with gains in household income will boost housing affordability, bringing more buyers to the market in the coming months.” NAR PR link.

The Conference Board says the US Preliminary January 2019 Leading Economic Index(2016=100) is at 111.3, December 2018was at 111.4, November 2018 111.4. Some key data used is estimated because of the recent US federal government partial shutdown. A revision will be released on 03/04/19. TCB PR link.

***Wednesday, February 20:

Marriott Intl(PBR119) and Manchester United (NYSE:MANU) announce multi-year marketing partnership, giving the 120 million members of the Marriott Bonvoy travel programmeexclusive opportunities for once-in-a-lifetime Manchester United football experiences – including the chance to become the club’s Stadium Announcer or Kit Manager for the day. $MAR PR link.

Bristol-Myers Squibb(PBR139) files amended SEC Form S-4 regarding acquisition of global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases Celgene(PBR220 $CELG) in cash and stock transaction with an equity value of approximately $74 billion, $102.43/share, stockholders of both companies to vote on 04/12/19, to close in 3Q19. $BMY PR link.

PVH(PBR320) to acquire the interests of its longtime Australian partner Gazal Corporationit does not already own for around $88 million, will give PVH full control of its brands in Australia, did around $185 million in sales in 2018, to close 2Q19. $PVH PR link.

Foot Locker(PBR355) authorizes new $1.2 billion share repurchase program, expires 01/31/22, replaces previous $1.2 billion of which $817 million has been used. $FL PR link.

Vistra Energy(PBR481) acquisition of Canadabased Crius Energy Trust (TSX: KWH.UN) for $328 million modified to $378 million plus the assumption of net debt of approximately $108 million, in response to an unsolicited acquisition proposal from a third party bidder on 02/14/19, Crius unitholders to vote on proposal 03/28/19, to close in 2Q19. $VST PR link.

KLA Corp(PBR580) completes $69.02/share in cash/stock, an equity value at $3.4 billion acquisition of solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), and semiconductor devices supplier Orbotech(NASDAQ: ORBK). $KLAC PR link.

MDC Holdings(PBR780)’s Richmond American Homes of Nevada subsidiaryannounces Grand Opening of six new communities, prices range from mid $200,000s to low $700,000s. $MDC PR link.

Eastman Kodak(PBR946) CEO Jeffrey Clarke steps down, Chairman Jim Continenza appointed Executive Chairman/CEO. $KODK PR link.

Tesla(PBR248) EVP/General Counsel Dane Butswinkas returning to his law firm, to work with Tesla in an outside role as before, VP/Legal Jonathan Chang named successor, has been with Tesla for 8 years. $TSLA PR link.

The Federal Reserve Open Market Committee Minutes from the 01/29-30/19 Meeting says “…information received since the Committee met in December indicated that the labor market had continued to strengthen and that economic activity had been rising at a solid rate… members agreed to change the characterization of recent growth in economic activity from “strong” to “solid,” consistent with incoming information that suggested that the pace of expansion of the U.S. economy had moderated somewhat since late last year.” FOMC PR link.

***Tuesday, February 19:

Amazon(PBR8) announces Shipment Zero, Amazon’s vision to make all Amazon shipments net zero carbon, with 50% of all shipments net zero by 2030. $AMZN PR link.

Ford(PBR11) to exit the commercial heavy truck business in S America, will cease production at the São Bernardo do Campo plant in Brazilduring 2019, ending sales of the Cargo lineup, F-4000 and F-350 — along with the Fiesta small car — once inventories are sold, will take a $460 million charge, will continue to produce SUVs and pickup trucks. $F PR link.

Alphabet(PBR21 $GOOG)’s Google Cloud unit to acquire data migration and integration services provider Alooma, terms not disclosed. Alooma PR link.

Merck(PBR71) gets US FDA approval for KEYTRUDA anti-PD-1 therapy for the adjuvant treatment of patients with melanoma with involvement of lymph node(s) following complete resection. $MRK PR link.

General Dynamics(PBR89) wholly owned subsidiary Jet Aviation acquires full ownership of the San Juan fixed-base operator (FBO) at Luis Muñoz Marin International Airport in Puerto Rico, terms not disclosed. $GD PR link.

Medtronic(PBR95) gets US FDA Breakthrough Device designation for its Personalized Closed Loop (PCL) insulin pump system, currently in development. $MDT PR link.

CenturyLink(PBR156) gets SEC Form 13D filing from investor Southeastern Asset Management saying it now has 6.2% stake in CTL, has some concerns about direction and leadership. $CTL PR link.

Devon Energy(PBR210) pursuing separation of its Canadian and Barnett Shale assets, authorizes additional $1 billion for shares repurchase program, now at $5 billion, $3.4 billion completed, expires 12/31/19. $DVN PR link.

Hormel Foods(PBR300) to sell its CytoSportbusiness, maker of Muscle Milk, to PepsiCo(PBR43) in next 60-90 days, more details to be provided at 02/21/19 HRL earnings call. $HRL PR link.

Targa Resources(PBR322) to sell a 45% interest in Targa Badlands, the entity that holds all of Targa’s assets in N Dakota, to Blackstone(PBR386) and affiliates for $1.6 billion cash, to close 2Q19. $TRG PR link.

Rockwell Automation(PBR403) and Schlumberger(PBR91) to form 53/47 joint venture Sensia, the oil and gas industry’s first fully integrated digital oilfield automation solutions provider, will have 1,000 employees, anticipates $400 million in annual revenues, to close in summer 2019. $ROK PR link.

Host Hotels(PBR485) acquires the fee simple interest in the 1 Hotel South Beach for $610 million, rated in the top-10 US hotels by Conde Nast Traveler and recently rated the #1 hotel in Miami Beach by TripAdvisor. $HST PR link.

Caesars Entertainment(PBRPBR517) gets SEC 13D filing showing Icahn Enterprises(PBR127) now holds around 10% of CZR outstanding shares. $CZR PR link.

Snap-On(PBR613) authorizes new $500 million share repurchase program, replaces previous authorization which had $206 million remaining. $SNA PR link.

Allergan(PBR174) disagrees with public shareholder letter from investor Apaloosa saying Chairman/CEO position should be split up immediately. $AGN PR link.

Flowers Foods(PBR592) President/CEO Allen L. Shiver to retire at annual meeting in 05/19 after 41 years with the company, COO Ryals McMullian to become President/CEO. $FLO PR link.

Middleby(PBR818) Chairman/President/CEO Selim Bassoul retires, CFO Timothy FitzGerald named CEO, promotes David Brewer EVP/COO, Chief Accounting Officer Bryan Mittelman promoted to CFO, Lead Independent Director Gordon O’Brien named Chairman. $MIDD PR link.

Avnet(PBR152) promotes SVP/Chief Human Resources Officer and Global Marketing & Communications MaryAnn Miller to Chief Administrative Officer, VP/Human Resources for the Americas Ken Arnold promoted to SVP/Chief People Officer. $AVT PR link.

Sherwin-Williams(PBR191) promotes President/Performance Coatings Group David B. Sewell to serve as President/COO, President/Consumer Brands Group Aaron M. Erter becomes President/Performance Coatings Group, and Robert F. Lynch becomes President/Consumer Brands Group, all effective 03/01/19. $SHW PR link.

WestRock(PBR192) President/Consumer Packaging Bob Feeser to retire on 04/30/19, Patrick (Pat) Lindner hired as successor. $WRK PR link.

Avis Budget(PBR321) hires John F. North III as CFO, effective 03/18/19, succeeds interim CFO Martyn Smith who will serve in transitional and advisory role for at least 6 months. $CAR PR link.

Woodward(PBR848) hires Tom Cromwell for newly created position of Vice Chairman and COO. $WWD PR link.

The Natl Assn of Home Builders/Wells Fargo US Preliminary February 2019 Housing Market Composite Index is at 62, January 2019 was at 58, December 2018 56, February 2018 71. “Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment … In the aftermath of the fall slowdown, many builders are reporting positive expectations for the spring selling season.” NAHB/WF PR link.

***Monday, February 18:

***US Stock Exchanges Closed.
***US Federal Holiday
***Washington’s Birthday Observed.

The PBR1000 January 2019 Snapshots have been released, 15 snapshots with 26 rankings, 200+ fields of data and analytics per company, in MS-Excel format. Get your subscription today! The PBR1000 Subscribe link.

Navient(PBR962) rejects a highly conditional unsolicited “expression of interest” from Canyon Capital Advisors and Platinum Equity Advisorto acquire Navient for $12.50/share cash, a 6.6% premium on the 02/15/19 closing price. $NAVI PR link.

Caterpillar(PBR60) announces changes in responsibilities for three Executive Office members, new roles for two current VPs and the appointment of two new VPs, all effective 03/01/19. $CAT PR link.

Quest Diagnostics(PBR359) hires Gabrielle Wolfson as SVP & Chief Information and Digital Officer. $DGX PR link.

***Friday, February 15:

The PBRMarketTools US Stock Exchanges Recap for Week 7 ending 02/15/19:

DJIA ends the week at 25,883.25, +3.09% from last Friday, +3.53% MTD, +10.96% QTD/YTD, -3.52% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 7,472.41, +2.39% from last Friday, +2.62% MTD, +12.62% QTD/YTD, -7.86% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,775.60, +2.50% from last Friday, +2.64% MTD, +10.72% QTD/YTD, -5.29% from record 2,930.75 set 09/20/18.

The Week 7 US Stock Exchanges Recap:
Monday was a low volume tepid mixed day. The Stock Market Bull must have realized that The Stock Market Bear was in hibernation and took a big stand on Tuesday and came back on Wednesday for another positive day. The Stock Market Bear made his presence known on Thursday for a mixed day, but The Stock Market Bull chased him back to his cave in a big way on Friday, and easily wins Week 7 3-0 to keep his unbeaten streak alive for 2019.

The Week 7 YTD tally is:
The Stock Market Bull: 6 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

The Week 7 News Summary: At the beginning of the week there were concerns about whether or not the US/China trade discussions could make progress, but those fears seemed to dissipate during the week. A second US federal government shutdown was also an issue early in the week, but a bipartisan agreement was made and President Trump reluctantly signed it as well as an Executive Order for a national emergency to help build the wall he feels is necessary to protect the country. Economic news was okay, a little mixed, with the monthly retail trade report being disappointing, but job openings at very high levels. Corporate earnings were also somewhat mixed.

Marriott Intl(PBR119)’s Renaissance Hotelsbrand opens first location in Mexico, the Renaissance Cancún Resort & Marina, 180 guestrooms, including 11 suites, all with ocean, marina or golf course views. $MAR PR link.

Eli Lilly(PBR120) completes $235.00/share, $8.0 billion cash acquisition of biopharmaceutical developer and commercializer of highly selective medicines for patients with genomically defined cancers Loxo Oncology(NASDAQ: LOXO). $LLY PR link.

General Mills(PBR179) in restructuring decides to close Carson, CA, yogurt manufacturing facility, to incur around $130 net expenses through 2021 as a result. $GIS PR link.

Cognizant(PBR194) resolves issue relating to payments for permits and licenses for certain real estate facilities in India in violation of the US Foreign Corrupt Practices Act (“FCPA”) and other applicable laws, resolves all of the US Dept of Justice and US Securities and Exchange Commission investigations for Cognizant concerning this matter, will pay $28 million fine. $CTSH PR link.

Coty(PBR305) forms special committee of independent Board members to evaluate partial tender offer for up to 150 million Class A shares at $11.65/share, a premium of approximately 38% to the 90-day volume-weighted average share price as of 02/11/19, from JAB Cosmetics NV. $COTY PR link.

Mattel(PBR515) announces a slate Of 22 television shows for multi-platform distribution. $MAT PR link.

Toro(PBR768) to acquire privately-held Oklahoma based The Charles Machine Works, parent company of Ditch Witch and several other leading brands in the underground construction market, for $700 million cash, to close by 07/31/19. $TTC PR link.

CommScope(PBR533) on track for $31.75/share, around $7.4 billion cash, includes repayment of debt, acquisition of ARRIS Intl(PBR408) in 1H19, ARRIS CEO Bruce McClelland to become CommScope COO, current CommScope COO Morgan Kurk to become Chief Technology Officer. $COMM PR link.

PolyOne(PBR677) promotes Robert Bindner to President/Performance Products & Solutions, succeeds departing Don Wiseman. $POL PR link.

The US Dept of Labor says US Preliminary January 2019 Import Prices were -0.5%, -1.7% Year-to-Year, Export Prices were -0.6%, -0.2% Year-to-Year. USDOC PR link.

The US Federal Reserve says US Preliminary January 2019 Industrial Production % of Capacity was at 78.2%, December 2018 was at 78.8%, November 2018 78.9%, January 201877.0%. USFed PR link.

The Federal Reserve Bank of New York says the Empire State February 2019 Manufacturing General Business Index is at +8.8, January 2019 was at +3.9, December 2018 +11.5, February 2018 +16.4. “Business activity grew modestly in New York State … indexes assessing the six-month outlook improved noticeably, suggesting firms were fairly optimistic about future conditions.” NYFed PR link.

The U of Michigan US Preliminary February 2019 Consumer Sentiment Index is at 95.5, January 2019 was at 91.2, December 201898.3, February 2018 99.7. “The early February gains reflect the end of the partial government shutdown as well as a more fundamental shift in consumer expectations due to the Fed’s pause in raising interest rates…” UMichigan PR link.

***Thursday, February 14:

Walmart(PBR1) startup Spatial& partners with DreamWorks Animation to present a virtual reality activation offering tied to the upcoming theatrical release of How to Train Your Dragon: The Hidden World. $WMT PR link.

Amazon(PBR8) decides not to move forward with plans to build a headquarters in Long Island City, Queens, NY, says a number of state and local politicians are opposed. $AMZN PR link.

GE(PBR19 $GE) to shrink its Boston footprint, give back $87 million in incentives.MarketWatch PR link.

JPMorgan Chase(PBR26) launches its cryptocurrency JPM Coin, will run on a private enterprise blockchain, to service institutional clients in the settlement of funds, still in the prototype phase but will be rolled out to some institutional clients in a pilot program later in 2019. $JPM PR link.

Boston Properties(PBR774) says Alphabet(PBR21)’s Google unit signed a 15-year lease agreement for the ground-up redevelopment of Boston Properties’ 325 Main Street building in Kendall Center, Cambridge, MA, occupy 362,000 sf, brings Google’s total leased space from Boston Properties to more than 800,000 square feet in Cambridge. $BXP PR link.

GoDaddy(PBR841) hires Fara Howard as Chief Marketing Officer, promotes Andrew Low Ah Kee to COO, Chief Information Officer Arne Josefsberg retiring effective 06/30/19, will unify that function under Chief Technology Officer Charles Beadnall, Chief Product Officer Steven Aldrich leaving, search for successor started. $GDDY PR link.

The US Dept of Labor says US Preliminary January 2019 Final Demand Producer Price Index is at -0.1%, with Goods at -0.8%, Services +0.3%, Last 12 Months Final Demand is +2.5%, for December 2018 it was at +2.8%, November 2018 +2.8%, January 2018+2.5%. USDOL PR link.

The US Dept of Commerce/Census says that US Preliminary November 2018 Manufacturer Sales were at $505.1 billion, Retail Sales$452.0 billion, Wholesaler Sales $505.3 billion, Total Sales $1,462.5 billion, -0.3% from October 2018, +4.2% from November 2017. USDOC PR link.

The US Dept of Commerce says US Advance December 2018 Retail Sales were $446.0 billion, Food Services & Drinking Places $59.8 billion, Total $505.8 billion, -1.3% from November 2018, +2.3% from December 2017. USDOC PR link.

***Wednesday, February 13:

The January 2019 Snapshot 15 Summary:
The PBR1000 Top 5 by Market Capitalization(Rank, Company, PBR Ranking by Revenues, Stock Symbol, Market Capitalization in billions):

1. Amazon(PBR8 $AMZN), $840B
2. Microsoft(PBR22 $MSFT), $801B
3. Apple(PBR2 $AAPL), $785B
4. Alphabet(PBR21 $GOOG), $776B
5. Berkshire Hathaway(PBR4 $BRK.B), $508B

Range: $840 billion to $0.03 billion
The PBR1000 Total: $25.787 trillion, +9.18% from 12/31/18, -0.32% from 12/29/17
Average: $25.787 billion
Median: $7.50 billion

To get all 15 Snapshots and 27 rankings on The PBR1000 go to the Subscribe page.

Ford(PBR11) issues safety recall on select 2011-13 Ford F-150 vehicles with 6-speed automatic transmission that may experience an intermittent loss of the transmission output speed sensor signal to the powertrain control module, potentially resulting in a temporary, unintended downshift into first gear, affects 1.48 million vehicles in US/Canada, aware of five reports of accidents, including one report of “whiplash” potentially related to this condition. $F PR link.

Alphabet(PBR21)’s Google unit to invest over $13 billion in 2019 in data centers and offices across the US, with major expansions in 14 states. $GOOG PR link.

Johnson & Johnson(PBR35) to acquire privately held developer of robotic technologies Auris Health for approximately $3.4 billion cash with additional contingent payments of up to $2.35 billion payable upon reaching certain predetermined milestones. $JNJ PR link.

Cisco(PBR57) authorizes $15 billion increase in share repurchase program, balance available is now around $24 billion. $CSCO PR link.

DISH(PBR198) says it ended 2018 with 12.322 million subscribers, 9.905 million for DISH TV, 2.417 million for Sling TV, net loss of 920,000 from 2017. $DISH PR link.

Arconic(PBR220) to invest around $100 million to expand its hot mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville, TN, will create 70 jobs, to be completed by 4Q20. $ARNC PR link.

Pentair(PBR511) completes $160 million cash acquisition of Chicago, IL area based 170 employees water conditioners, water filters, drinking-water purifiers, ozone and ultraviolet disinfection systems, reverse osmosis systems and acid neutralizers for the residential and commercial water treatment industry provider Aquion. $PNR PR link.

Ametek(PBR559) authorizes additional $500 million for share repurchase program, balance available is $501 million. $AME PR link.

Skechers(PBR571) surpasses 3,000 Skechers retail stores worldwide with the opening of a 32,000+ sf superstore in Shenyang, China – now the brand’s largest, has stores on 6 continents. $SKX PR link.

Global Payments(PBR660) completes $1.2 billion cash/stock acquisition of the communities and sports divisions cloud-based payment technology solutions for event planners provider ACTIVE Network from Vista Equity Partners. $GPN PR link.

Louisiana-Pacific Corp(PBR748) authorizes new $600 million share repurchase program, including the intent to initially enter into a $400 million accelerated share repurchase program, will have $638 million available with $38 million carryover from previous authorization. $LPX PR link.

Sinclair Broadcast(PBR749) and the Chicago Cubs forming joint venture, will own/operate Marquee Sports Network, a Chicago, IL-based regional sports network, will be the Chicago-region’s exclusive network to view live Cubs games beginning with the 2020 Major League Baseball season. $SBGI PR link.

GNC(PBR800) $300 million investment by Harbin Pharmaceutical Group(Hayao) is completed, forms Hong Kong-based China e-commerce joint venture with Hayao. $GNC PR link.

Portland General Electric(PBR870) and NRG Energy(PBR269) subsidiary to develop nation’s first major energy facility co-locating wind, solar and battery storage, new energy facility in Eastern Oregon combining 300 megawatts of wind generation with 50 megawatts of solar generation and 30 megawatts of battery storage. $POR PR link.

Charles River Labs(PBR893) to acquire Europe based with operations in N Americanon-clinical contract research organization, specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing, Citoxlab for around $510 million, to close 2Q19. $CRL PR link.

Wendy’s(PBR984) enters into Settlement Agreement with financial institutions related to the criminal cyberattacks which targeted the point of sale systems of certain Wendy’s franchisees in 2015 and 2016, will pay $50 million in late 2019 if approved by the court. $WEN PR link.

T Rowe Price(PBR520) Chairman Brian Rogers retiring from Board on 04/25/19 at annual meeting, CEO William Stromberg to assume Chairman role; approves 10 million share increase for common stock repurchase authorization, total repurchase authorization now nearly 22.4 million shares. $TROW PR link.

Alliant Energy(PBR653) Chairman/CEO Patricia Kampling to retire, effective 07/01/19, President/COO John O. Larsen to be successor as Chairman/President/CEO. $LNT PR link.

MasterCard(PBR232) CFO Martina Hund-Mejean to retire in 2019, has been CFO for 11 years, Sachin Mehra to be successor, effective 04/01/19. $MA PR link.

Thor Industries(PBR336) promotes Troy James to SVP/International Operations. $THO PR link.

Encompass Health(PBR586) Chief Human Relations Officer Cheryl Levy to retire after 12 years, effective 03/31/19, starts internal/external search. $EHC PR link.

The US Dept of Labor says the US Preliminary January 2019 Employee Current Average Earnings/Hour is at $27.56, Average Workweek Hours at 34.5, for Average Current Weekly Earnings of $950.82, +0.1% from December 2018, +3.5% from January 2018. USDOL PR link.

The US Dept of Labor says the US January 2019 Consumer Price Index(CPI) was 0.0%, December 2018 was -0.1%, November 20180.0%, Last 12 Months 1.6%. USDOL PR link.

The US Dept of Treasury says US December 2018 Federal Government Receipts were $312.6 billion, Outlays $326.1 billion, Deficit$13.5 billion, December 2018 Receipts YTD(3 Months) were at $771.2 billion, YTD Outlays$1,090.2 billion, YTD Deficit $318.9 billion, December 2017 YTD Deficit was $225.0 billion. USTreasury PR link.

***Tuesday, February 12:

January 2019 Snapshot 13 Summary: The PBR1000 Top 5 Stock Performers since 12/29/17(13 months) (Rank, Company, PBR Ranking by Revenues, Stock Symbol, 01/31/19 Stock Price, % Increase from 12/29/17):

1. BlueLinx(PBR896 $BXC), $29.15, +199%
2. AMC(PBR489 $AMD), $24.41, +137%
3. Crocs(PBR1000 $CROX), $28.72, +127%
4. Fossil(PBR738 $FOSL, $16.96, +118%
5. Genesis Healthcare(PBR738 $GEN), $1.57, +107%

Range: +199% to -90%
Number of Companies at 0% or Better:398/1,000
Average: -2.18%
Median: -6.65%
DJIA: +1.13%
NASDAQ: +5.48%
SPX: +1.14%

Tomorrow: The PBR1000 January 2019 Top 5 Stocks by Market Capitalization.

American Electric Power(PBR184) to acquire Sempra Energy(PBR259) Renewablessubsidiary and its 724 megawatts (MW) of operating wind generation and battery assets on 7 wind farms in Colorado, Hawaii, Indiana, Kansas, Michigan, Minnesota and Pennsylvania, for approximately $1.056 billion, to close in 2Q19. $AEP PR link.

CBS(PBR214 $CBS) ousted former Chairman/CEO Leslie Moonves, other CBS execs accused of insider trading in advance of sexual-harassment allegations in shareholder suit. MarketWatch PR link.

Dominion Energy(PBR228) to reduce methane emissions from its natural gas infrastructure by 50% over the next decade. $D PR link.

Coty(PBR305) gets partial tender offer for up to 150 million Class A shares at $11.65/share, a premium of approximately 38% to the 90-day volume-weighted average share price as of 02/11/19, from JAB Cosmetics NV, will require Coty approval to proceed. $COTY PR link.

Activision Blizzard(PBR389) authorizes new two year up to $1.5 billion share repurchase program. $ATVI PR link.

Arthur J Gallagher(PBR445) acquires Salem, OR-based surety bonds for mortgage brokers, artisan contractors and other industries across the US Surety Solutions, LLC and bond processing software used by Surety Solutions developer Agency Multiplied, terms not disclosed. $AJG PR link.

Simon Property(PBR476) authorizes up to $2 billion stock repurchase program over the next 24 months, replaces current authorization which had $633 million available. $SPG PR link.

Pentair(PBR511) completes $120 million cash acquisition of DeLand, FL-based 79 employees residential whole home water treatment systems provider Pelican Water Systems. $PNR PR link.

Edwards Lifesciences(PBR645) to acquire non-invasive monitoring of tissue oxygenation in the brain medical technology company CAS Medical Systems(NASDAQ: CASM) for $2.45/share, around $100 million, to close 2Q19. $EW PR link.

Six Flags(PBR968) to rebrand Buffalo, NY, area Darien Lake to Six Flags Darien Lake, Houston, TX, largest waterpark Wet & Wild Splashtown to be rebranded as Six Flags Hurricane Harbor, and Wet & Wild Phoenix, the largest waterpark in Arizona, will be rebranded Six Flags Hurricane Harbor Phoenix. $SIX PR link.

Akamai Technologies(PBR788) EVP/CFO Jim Benson to retire effective 03/01/19, SVP/Finance Ed McGowan to be successor. $AKAM PR link.

Cleveland-Cliffs(PBR819) hires Keith A. Koci as EVP/CFO, succeeds departing Timothy K. Flanagan. $CLF PR link.

The US Dept of Labor says US Preliminary December 2018 Job Openings-Private were at 6,707,000, Government 628,000, Total Openings 7,335,000, a new record, +2.4% from November 2018, +29.4% from December 2017. USDOL PR link.

The US Dept of Treasury says the Total US Debt on 02/11/19 reached $22.013 trillion, first time over $22 trillion, $16.157 trillion Debt Held by the Public, $5.856 trillion from Intragovernmental Holdings. USTreasury PR link.

The Federal Reserve Bank of New York says US total household debt increased by $32 billion (0.2%) to $13.54 trillion in the 4Q18, was 18th consecutive quarter with an increase and the total is now $869 billion higher than the previous peak of $12.68 trillion in the 3Q08. Outstanding student loan debt increased to $1.46 trillion from $1.44 trillion. Auto loan originations totaled $584 billion in 2018, the highest year in the 19-year history of the data for auto loan originations. Credit card balancesrose by $26 billion to $870 billion, first time credit card balances re-touched the 2008 nominal peak. NYFed PR link.

CoreLogic reports that the US November 2018 Percent of Mortgages on Homes 30 or More Days Delinquent is at 4.1%, November 2017was at 5.2%, November 2018 Total Percent of Homes In Foreclosure was at 0.4%, November 2017 was at 0.6%. “Solid income growth, a record amount of home equity and an absence of high-risk loan products put the U.S. homeowner on solid ground. All of this has helped push delinquency and foreclosure rates to the lowest levels in almost two decades, and will provide a cushion if the housing market should turn down.” Frank Nothaft, Chief Economist for CoreLogic. CoreLogic PR link.

Retail Industry: Analytics firms Coresight Research and Celect study finds markdowns cost US non-grocery retailers $300 billion in revenues in 2018, 12% of total sales. Celect PR link.

***Monday, February 11:

The January 2019 Snapshot 11 & 12 Summary: The PBR1000 Top 5 Month & YTD Stock Performers(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 01/31/19 Stock Price, % Increase from 12/31/18):

1. Pier 1 Imports, PBR905, $PIR, $0.82, +165%
2. FannieMae, PBR20, $FNMA, $2.54, +140%
3. FreddieMac, PBR37, $FMCC, $2.46, +134%
4. Ferrellgas, PBR862, $FGP, $1.22, +126%
5. YRC Worldwide, PBR514, $YRCW, $6.24, +98%

Range: +165% to -45%
Number of Companies at 0% or Better:936/1,000
Average: +9.33%
Median: +10.88%
DJIA: +7.17%
NASDAQ: +9.74%
SPX: +7.87%

Tomorrow: The PBR1000 Top 5 Stock Performers Since 12/29/17(13 Months).

Amazon(PBR8) to acquire home mesh WiFi systems provider eero, terms not disclosed. $AMZN PR link.

AT&T(PBR10 $T) to hire 500 full-time employees for a new 70,000 sf call center facility in Mesa, AZ. Phoenix Business Journal PR link.

Regeneron(PBR13) and Sanofi say that cholestrol medication Praluent® (alirocumab)will be made available at a new reduced US list price of $5,850 annually, a 60% reduction from the original price, for both the 75 mg and 150 mg doses, beginning in early 03/19. $REGN PR link.

Morgan Stanley(PBR61) to acquire global cloud-based software-as-a-service (SaaS) for equity administration, financial reporting and compliance provider with 3,000+ corporate clients Solium Capital(TSX: SUM) for $900 million. $MS PR link.

Ingersoll-Rand(PBR204) to acquire $400 million in revenues in 2018, 1,000 employees, 7 global manufacturing locations, fluid management systems with world class brands including Milton Roy®, LMI®, Haskel®, BuTech®, Dosatron®, YZ Systems®, Williams® and Hartell® provider Precision Flow Systems from funds advised by BC Partners Advisors L.P. and The Carlyle Group(PBR616) for $1.45 billion, to close mid-2019. $IR PR link.

Bemis(PBR579) $57.75/share, $6.8 billion all stock transaction acquisition by Australia based Amcor Limited (ASX: AMC) gets European Commission approval with some conditions, waiting for US and Brazil approvals, still on track of 2Q19 close. $BMS PR link.

Greif(PBR599) completes $1.8 billion acquisition of N America $1.4 billion in sales paperboard manufacturer Caraustar. $GEF PR link.

KKR(PBR673) completes $510 million acquisition of 60% stake in Mumbai, India, based global management, collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as the recycling of paper, plastic and chemicals, as well as renewable energy generation provider Ramky Enviro Engineers Limited. $KKR PR link.

FMC(PBR723) to distribute of all of its remaining interest in spin-off Livent Corporation(NYSE: LTHM) to FMC stockholders, payable on 03/01/19. $FMC PR link.

Valmont(PBR744) has acquired $21 million in revenues in 2018, 150 employees, hot-dip zinc galvanizing and CorroCote services provider Houston, TX-based United Galvanizing, terms not disclosed; also starting construction of a new hot-dip zinc galvanizing facility in Midland, PA, to be in service in early 2020, will then have 38 locations worldwide. $VMI PR link.

Bristow Group(PBR958) $560 million acquisition of privately held Aurora, OR based $281 million in revenues in 2018 Columbia Helicopters terminated by mutual agreement, actively considering mutually beneficial opportunities to work together, Bristow pays $20 million termination fee. $BRS PR link.

Colgate-Palmolive(PBR183) President/COO Noel Wallace to become President/CEO and member of the Board, Chairman/CEO Ian Cook to become Executive Chairman, effective 04/02/19. $CL PR link.

C.H. Robinson(PBR193) COO Robert (“Bob”) Biesterfeld named CEO, Chairman/CEO John Wiehoff to remain Chairman, both effective 05/09/19. $CHRW PR link.

Barnes Group(PBR960) SVP & President/Industrial Scott Mayo has stepped down from his positions and will depart after an appropriate transition period. $B PR link.

PG&E(PBR163) provides update on Board refreshment, says it expects that no more than five of the Company’s current directors will stand for election at the 2019 Annual Meeting of Shareholders, intends that a majority of the 11 directors of the Company will be new independent directors by the time of the 2019 Annual Meeting. $PCG PR link.

***Friday, February 8:

The PBRMarketTools US Stock Exchanges Recap for Week 6 ending 02/08/19:

DJIA ends the week at 25,106.33, +0.17% from last Friday, +0.43% MTD, +7.63% QTD/YTD, -6.42% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 7,298.20, +0.47% from last Friday, +0.23% MTD, +9.99% QTD/YTD, -10.01% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,707.88, +0.05% from last Friday, +0.14% MTD, +8.02% QTD/YTD, -7.60% from record 2,930.75 set 09/20/18.

The Week 6 US Stock Exchanges Recap:
The Stock Market Bull charged out to a nice lead on Monday and Tuesday. But then The Stock Market Bear made an appearance on Wednesday, then took a big chunk out on Thursday. The markets opened down on Fridayand it looked like The Stock Market Bear would prevail for the week, but towards the end of the day The Stock Market Bull returned to scare The Stock Market Bear just enough to snatch Week 6 3-0 and maintain his unbeaten streakfor the year.

The Week 6 YTD tally is:
The Stock Market Bull: 5 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

The Week 6 News Summary: In the early part of the weeks some major technology earnings reports were better than expected, but the rest of the week it was a mixed bag across all industries. The US federal government is still recovering from the partial shutdown, but started releasing a few new economic reports. There were some private releases as well showing that the US economy is still doing well, but off last year’s pace. President Trump gave his State of the Union Address on Tuesday night to mixed reviews and concerns that another government shutdown is possible starting on 02/15/19. Global growth concerns returned and as the week came to an end it appears that US/China trade negotiations are making progress and optimism expressed, but that there are still a lot of issues to be resolved and agreed upon.

Walmart(PBR1) introduces for its Walmart.comsite a modern aesthetic, MoDRN with three collections – Retro Glam, Refined Industrial and Scandinavian Minimal, features nearly 650 items across every room in the house. $WMT PR link.

Eli Lilly(PBR120) to initiate an exchange offer to divest its 80.2% interest in spin-off Elanco Animal Health (NYSE: ELAN). $LLY PR link.

Arconic(PBR220) in 4Q18 report says it will separate into Engineered Products & Forgingsand Global Rolled Products units, with a spin-off of one of them, will also consider the sale of businesses that do not best fit into either unit, to use $500 million of its share repurchase program in 1H19, authorizes new $500 million share repurchase program, expires 12/31/20. $ARNC PR link.

Chipotle(PBR536) has opened its 2,500th restaurant, located at The Shops at Todos Santos in Concord, CA, plans to open 140-155 new restaurants in 2019. $CMG PR link.

Nexeo Solutions(PBR582) to divest its plastics distribution business (“Nexeo Plastics”) to an affiliate of One Rock Capital Partners for an enterprise value of $640 million, to close in 1H19, prior to NXEO’s acquisition by Univar(PBR340). $NXEO PR link.

Verizon(PBR17) Chairman and former CEO Lowell C. McAdam not standing for re-election at 05/02/19 annual meeting, Board appoints CEO Hans Vestberg to also be Chairman, effective 03/08/19. $VZ PR link.

Schlumberger(PBR91) promotes Olivier Le Peuch to COO. $SLB PR link.

***Thursday, February 7:

Amazon(PBR8 $AMZN) joins Sequoia, T Rowe Price in $530 million Series B funding for self-driving startup Aurora. Electrek PR link.

Amazon(PBR8 $AMZN) gets lawsuit by film director Woody Allen seeking over $68 million for cancelled movie projects because of 1992 sexual assault allegations. TechCrunch PR link.

Ford(PBR11) is investing $1 billion in Chicago Assembly and Stamping Plants and adds 500 jobs to expand capacity for the production of all-new Ford Explorer, Police Interceptor Utility and Lincoln Aviator. $F PR link.

Walgreens Boots Alliance(PBR16 $WBA) to get FDA letter saying it is biggest violator of tobacco sales to minors. US FDA PR link.

Walgreens Boots Alliance(PBR16) says it has taken a number of steps to address FDA’s statement regarding sales of tobacco products to minors in its stores. $WBA PR link.

Bank of America(PBR25) adds $2.5 billion to $20.0 billion common stock repurchase program, expires 06/30/19. $BAC PR link.

IBM(PBR33 $IBM) to invest over $2 billion to grow its high-tech footprint at the SUNY Polytechnic Institute-Albany and throughout New York State, includes the establishment of an “AI Hardware Center” at SUNY Poly for artificial intelligence-focused computer chip research, development, prototyping, testing and simulation. State of NY PR link.

Philip Morris(PBR34) 4Q18 report says in 2018 it had 740.3 billion cigarette units shipped, -21.6 billion from 2017, had 41.4 billion heated tobacco units shipped, +5.1 billion from 2017. $PM PR link.

Johnson & Johnson(PBR36 $JNJ) will be the first drugmaker to list pill prices in TV ads, will start with popular blood thinner, Xarelto, which retails for $450-$540 per month without insurance. MarketWatch PR link.

Cisco(PBR57) calls for privacy to be considered a fundamental human right, makes some proposals. $CSCO PR link.

T-Mobile(PBR68) has 2.4 million total net additions in Q4 2018, 7.0 million in 2018, has 79.7 million total customers at end of 2018. $TMUS PR link.

Tyson(PBR76) to acquire Thailand and European operations of BRF SA for $340 million, includes four processing facilities in Thailand, one processing facility in the Netherlands and one processing facility in the United Kingdom. $TSN PR link.

Lear Corp(PBR144) increases share repurchase program to $1.5 billion, had $800 available at end of 2018, expires 12/31/21. $LEA PR link.

Sears(PBR168 $SHLDQ) Chairman Edward Lampert’s $5.2 billion bid for Sears assets gets approval by bankruptcy judge. Chicago Tribune PR link.

CDW(PBR188) authorizes a $1 billion increase in its share repurchase program, which had $336 million available at end of 2018. $CDW PR link.

Henry Schein(PBR234) completes spin-off of the Henry Schein Animal Health business and the subsequent merger with Vets First Choiceto form an independent public company with name Covetrus, to start trading as NASDAQ: CVET on 02/08/19. $HSIC PR link.

BB&T(PBR241) and SunTrust Banks(PBR291 $STI) to combine in merger of equals in an all stock deal valued at around $66 billion, will create 6th largest bank in the US by assets and deposits, to be headquartered in Charlotte, NC, to close 4Q19. $BBT PR link.

Sempra Energy(PBR259) subsidiary completes $328 million sale of its non-utility US natural gas storage facilities to an affiliate of ArcLight Capital Partners. $SRE PR link.

Foot Locker(PBR355) subsidiary is making a $100 million strategic minority investment in 1661, Inc., dba GOAT, a managed marketplace for authentic sneakers operating the GOAT and Flight Club brands (“GOAT Group”). $FL PR link.

Weyerhaeuser(PBR382) authorizes new up to $500 million share repurchase program, replaces previous program which had a $135 million remaining. $WY PR link.

YUM!(PBR461)’s Taco Bell unit offering free delivery for a limited time on orders over $12.00 before tax through expanded nationwide partnership with GrubHub. $YUM PR link.

Vistra Energy(PBR481) to acquire Canadabased Crius Energy Trust (TSX: KWH.UN) for $328 million, will make Vistra the leading residential electricity provider in the US with operations in 19 states and the District of Columbia, to close in 2Q19. $VST PR link.

Caesars Entertainment(PBR517)’s Caesars Palace Las Vegas to be home to a Bleacher Report branded studio originating from inside its legendary sports book in deal with Turner Sports, which has 250 million fans each month across Facebook, Instagram and Twitter alone.$CZR PR link.

Kansas City Southern(PBR778) hires Sameh Fahmy as EVP/Precision Scheduled Railroading. $KSU PR link.

Barnes Group(PBR960) appoints Patrick Hurley, PhD, to SVP/Chief Technology Officer. $B PR link.

The US Federal Reserve says US Preliminary December 2018 Total Consumer Credit Outstanding-Revolving was at $1.045 trillion, Non-Revolving $2.966 trillion, Total $4.010 trillion, +0.4% from November 2018, +4.7% YTD(12 months), first time over $4 trillion. USFed PR link.

The FannieMae(PBR20) US January 2019 Home Purchase Sentiment Index is at 84.7, December 2018 was 83.5, November 201886.2, January 2018 89.5. “The net share of Americans who say it is a good time to buy a home increased 4 percentage points from last month to 15%. This component is down 12 percentage points from the same time last year.” $FNMA PR link.

***Wednesday, February 6:

Kroger(PBR18) and Home Chef bringing retail weekly rotating meal meal kits to 500 additional Kroger stores across the US, and homechef.com has launched a customizable meal kit feature for online orders. $KR PR link.

Lowe’s(PBR39) to host National Hiring Day, to hire 50,000+ full-time, part-time, and seasonal store associates for its 1,700+ US stores. $LOW PR link.

Cisco(PBR58) completes $660 million cash acquisition of privately held Carlsbad, CA-based specialty semiconductor products manufacturer Luxtera. $CSCO PR link.

Dollar Tree(PBR124) plans new distribution center in Rosenberg, Fort Bend County, TX, plans to invest approximately $130 million, will create 300+ new jobs. $DLTR PR link.

JCPenney(PBR231) to discontinue selling major appliances effective 02/28/19, additionally, furniture will only be available at jcp.com and select Puerto Rico stores, mattresses continue to be available at 450+ stores and jcp.com. $JCP PR link.

Tesla(PBR248) now lists Model 3 starting price at $34,850, includes potential incentives and gas savings. $TSLA PR link.

Perrigo(PBR510) gets US FDA approval for Zovirax® Cream, 5% (acyclovir cream, 5%)developed in collaboration with Sol-Gel Technologies Ltd. (NASDAQ: SLGL), anticipates launching the product this month. $PRGO PR link.

Rush Enterprises(PBR525) subsidiary to enter into a new 50/50 joint venture with Tallman Group, the largest International Truck dealer in Canada with around $485 million in sales in 2018, will be named Rush Truck Centres of Canada Limited, to close on 02/25/19. $RUSHB PR link.

The New York Times(PBR927) has 265,000 net new digital subscription adds in 4Q18, ends 2018 with 3.4 million digital subscribers, 4.3 million total subscribers. $NYT PR link.

Cognizant(PBR194) hires Brian Humphries as CEO, effective 04/01/19, current CEO/Co-Founder Francisco D’Souza to become full-time Vice Executive Chairman until 06/30/19, will then remain on the Board. $CTSH PR link.

Arconic(PBR220) Chairman John Plant adds CEO role, succeeds Chip Blankenship, to serve as CEO for 1 year, Director Elmer Doty to serve as COO, Director Arthur Collins to serve as Lead Director, all effective immediately. $ARNC PR link.

Wells Fargo(PBR27) hires Julie Scammahorn as its Chief Auditor, to be effective in 04/19. $WFC PR link.

SAIC(PBR539) names Nathan Rogers as Chief Information Officer, succeeds retiring Bob Fecteau. $SAIC PR link.

The US Dept of Labor says US Revised 3Q18 Labor Productivity/Hour-All Persons was +1.8%, Output +3.9%, Hours Worked +2.1%, Real Compensation/Hour +0.9%. USDOL PR link.

The US Dept of Commerce says US November 2018 Total Goods Exported were $140.3 billion, Services $69.5 billion, Total Exports $209.8 billion; Total Goods Imported were $211.9 billion, Services $47.3 billion, Total Imports$259.2 billion, Total Deficit $49.4 billion, Total Deficit YTD(11 months) $552.3 billion, Total Deficit YTD 2017(11 months) $500.1 billion. USDOC PR link.

FreddieMac(PBR37) Insight reports that “… seniors born after 1931 are staying in their homes longer, and aging in place, resulting is higher homeownership rates for this group relative to previous cohorts. We estimate that this trend accounts for about 1.6 million houses held back from the market through 2018, representing about one year’s typical supply of new construction, or more than half of the current shortfall of 2.5 million housing units estimated in December’s Insight.” $FMCC PR link.

***Monday, February 4:

General Motors(PBR12 $GM) begins ‘vast majority’ of roughly 4,000 white-collar job cuts. Automotive News PR link.

GE(PBR19) to spin-off its Transportation Systems Holdings Inc on 02/14/19, will hold a portion of GE Transportation business unit which will merge with a Wabtec(PBR595)subsidiary. $GE PR link.

Tesla(PBR248 $TSLA) to acquire developer and manufacturer of ultracapacitors applied to the manufacturing of batteries Maxwell Technologies(NASDAQ: MXWL) for $4.75/share in all stock deal, 55% premium over 02/01/19 stock price close, deal valued at around $218 million, to close in 2Q19. Maxwell Technologies PR link.

NRG Energy(PBR269) completes $1 billion sale of its South Central business to Cleco Corporate Holdings. $NRG PR link.

Element Solutions(PBR607) to repurchase 37 million shares from Pershing Square Capital Management at a price of $11.72 per share. $ESI PR link.

Gannett(PBR688) board unanimously rejects MNG Enterprises‘ unsolicited $12/share cash, around $1.4 billion, proposal, says undervalues Gannett and is not in the best interests of Gannett and its shareholders, does not believe MNG’s proposal is credible. $GCI PR link.

Genesco(PBR720) completes $101 million cash sale of its Lids Sports Group headwear unit to FanzzLids Holdings, a holding company of affiliates of Ames Watson Capital. $GCO PR link.

Fred’s(PBR903) appoints CFO/interim CEO Joseph Anto as CEO, Ritwik Chatterjee as CFO, Nathaniel Klein as COO and Michael Ladd as Chief Stores Officer. $FRED PR link.

Chevron(PBR13) promotes Pierre Breber to VP/CFO, effective 04/01/19, succeeds Patricia Yarrington who is retiring after 38 years with the company; Mark Nelson will succeed Breber as EVP/Downstream and Chemicals, Colin Parfitt will become VP/Midstream, both effective 03/01/19. $CVX PR link.

Performance Food(PBR157) promotes SVP Craig Hoskins to corporate EVP and President/CEO of Foodservices segment. $PFGC PR link.

Newmont Mining(PBR374) hires Rob Atkinson as EVP/COO, effective 06/01/19, current President/COO Tom Palmer to remain President until he succeeds Gary Goldberg to become President/CEO. $NEM PR link.

Symantec(PBR519) hires Debora B. Tomlin as Chief Marketing Officer, effective 02/22/19. $SYMC PR link.

Kemper(PBR752) hires Kimberly A. Holmes as SVP/Chief Actuary and Strategic Analytics Officer. $KMPR PR link.

Pier 1 Imports(PBR905) hires Lance Wills as EVP/Chief Information Officer. $PIR PR link.

The US Dept of Commerce/Census says US Preliminary November 2018 Manufacturers New Orders-Durable Goods were at $250.8 billion, Non-Durable Goods $248.4 billion, Total$499.2 billion, -0.6% from October 2018, +4.1% from November 2017. USDOL PR link.

TD Ameritrade(PBR480)’s January 2019 Investor Movement Index falls to 4.28, a 6 year low. $AMTD PR link.

***Friday, February 1:

The PBRMarketTools US Stock Exchanges Recap for Week 5 ending 02/01/19:

DJIA ends the week at 25,063.89, +1.32% from last Friday, +0.26% MTD, +7.44% QTD/YTD, -6.58% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 7,263.87, +1.38% from last Friday, -0.25% MTD, +9.47% QTD/YTD, -10.43% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,706.53, +1.57% from last Friday, +0.09% MTD, +7.97% QTD/YTD, -7.65% from record 2,930.75 set 09/20/18.

The Week 5 US Stock Exchanges Recap:
Monday was the only big day for The Stock Market Bear. The rest of the week pretty much belonged to The Stock Market Bull, who takes Week 5 3-0 and who keeps his unbeaten streak perfect so far for 2019.

The Week 5 YTD tally is:
The Stock Market Bull: 4 weeks
The Stock Market Bear: 0 weeks
Mixed Results: 1 week

The Week 5 News Summary: The US Federal Government partial shutdown ended, perhaps only for a few weeks while negotiations start up to meet the February 15 deadline. There were some strong corporate earnings reports from key companies. Private economic data showed a strong economy, as did the government economic data that was released. The jobs reports were particularly impressive. The Federal Open Market Committee kept short term federal funds rates at 2.25-2.50%, and seemed rather dovish regarding any further increases at least until June. US/China trade discussions seemed to be making good progress.

Archer-Daniels-Midland(PBR47) completes around $1.8 billion acquisition of France based global provider of value-added animal nutrition solutions Neovia. $ADM PR link.

HCA(PBR59) completes $1.5 billion acquisition of six-hospital system in Asheville and western North Carolina Mission Health. $HCA PR link.

3M(PBR87) completes total enterprise value of $1.0 billion acquisition of $200 million in revenues/year healthcare technology of cloud-based, conversational Artificial Intelligence (AI)-powered systems that help physicians efficiently capture and improve the patient narrative business of M*Modal, does not include other M*Modal business units.$MMM PR link.

HollyFrontier(PBR202) completes $655 million acquisition of global white oils, petrolatums and waxes supplier Sonneborn US Holdings and Sonneborn Coӧperatief UA. $HFC PR link.

CenterPoint Energy(PBR296) completes $72/share, $6 billion acquisition of Vectren(PBR756). $CNP PR link.

Steel Dynamics(PBR301) to acquire 75% majority stake with option to buy remaining 25% in the future Austin, TX-based painted Galvalume® flat roll steel used for roofing and siding applications distributor United Steel Supply for $134 million. $STLD PR link.

Chesapeake Energy(PBR302) completes $3.977 billion cash and stock acquisition of WildHorse Resource Development Corporation (NYSE:WRD), an oil and gas company with operations in the Eagle Ford Shale and Austin Chalk formations in SE Texas. $CHK PR link.

Thor Industries(PBR336) completes modified $2 billion acquisition of Germany based 7,300 employees $2.9 billion in revenues privately held international company Erwin Hymer Group, excludes EHG’s N American businesses, creates world’s largest RV manufacturer. $THO PR link.

ARRIS Intl(PBR408) shareholders approve $31.75/share, around $7.4 billion cash, includes repayment of debt, acquisition by CommScope(PBR533), to close 1H19. $ARRS PR link.

BGC Partners(PBR668) completes acquisition of Ed Broking Group Ltd, an independent Lloyd’s of London insurance broker with a strong reputation across Accident and Health, Aerospace, Cargo, Energy, Financial and Political Risks, Marine, Professional and Executive Risk, Property and Casualty, Specialty and Reinsurance. $BGCP PR link.

Performance Food(PBR157) Chairman Douglas M. Steenland has resigned, President/CEO George Holm elected to also be Chairman, Manuel A. Fernandez appointed Lead Independent Director. $PFGC PR link.

Roper Technologies(PBR531) hires Satish Maripuri as Group VP responsible for providing corporate leadership for several of its software businesses; separately, EVP Paul Soni is retiring. $ROP PR link.

The US Dept of Labor says US January 2019 Total Civilian Noninstutional Population is at 258,239,000, Total Employed is at 156,694,000, Total Unemployed is at 6,535,000, for an Unemployment Rate of 4.0%, December 2018 was at 3.9%, November 2018 3.7%, January 2018 4.1%. USDOL PR link.

The US Dept of Commerce/Census says US Preliminary November 2018 Total Construction Spending Annual Rate-Residential at $548.4 billion, Commercial$751.5 billion, Total 1.300 trillion, +0.8% from October 2018, +3.8% from November 2017. USDOC PR link.

The US Dept of Commerce/Census says US Preliminary November 2018 Wholesale Sales Annual Rate-Durable Goods was at $245.5 billion, Non-Durable Goods $259.8 billion, Total$505.3 billion, -0.6% from October 2018, +4.0% from November 2017. USDOC PR link.

The Institute for Supply Management says US January 2019 Manufacturing PMI Index(>50%=economy expanding) is at 56.6%, December 2018 was at 54.1%, November 201859.3%, January 2018 59.1%. ISM PR link.

The IHS Markit US January 2019 Manufacturing PMI Index is at 54.9, December 2018 was at 53.8, November 2018 55.3, January 2018 55.5. “… signalled a strong and faster improvement in the overall health of the sector …” IHS Markit PR link.

Automotive News says US January 2019 Total Light Vehicle Units Sold was estimated at 1,146,972, -1.1% from January 2018, Average Transaction Price was at $34,274, +1.9% from January 2018, Seasonally Adjusted Annual New Sales Rate at 16,900,000 light vehicles. Automotive News PR link.

The U of Michigan Final January 2019 Consumer Sentiment Index is at 91.2, December 2018 was at 98.3, November 201897.5, January 2018 95.7. UMichigan PR link.

***Thursday, January 31:

The PBRMarketTools US Stock Exchanges Recap for January 2019 Ending 01/31/19:

DJIA ends January 2019 at 24,999.67, +1.06% from last Friday, +7.17% MTD/QTD/YTD, -6.82% from record 26,743.50 set 09/21/18.

NASDAQ ends January 2019 at 7,281.74, +1.63% from last Friday, +9.74% MTD/QTD/YTD, -10.21% from record 8,109.69 set 08/29/18.

SPX ends January 2019 at 2,704.10, +1.48% from last Friday, +7.87% MTD/QTD/YTD, -7.73% from record 2,930.75 set 09/20/18.

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

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The June 2019 US Major Stock Market Exchanges Summary

The PBR1000 June 2019 Snapshots

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

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 3(S13): The PBR1000 Top 5 18 Months Stock Price % Gainers

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

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

International Trade Issues Continue To Dominate The PBR1000 News

May 2019 The PBR1000: A The Stock Market Bear of a Month

The May 2019 US Major Stock Market Exchanges Summary

The PBR1000 May 2019 Snapshots

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

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 3(S13): The PBR1000 Top 5 17 Months Stock Price % Gainers

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

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

The PBR1000 Experiences Some Confusion In May 2019

April 2019 The PBR1000: The Stock Market Bull Continues to Dominate

The April 2019 US Major Stock Market Exchanges Summary

The PBR1000 April 2019 Snapshots

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

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 3(S13): The PBR1000 Top 5 15 Months Stock Price % Gainers

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

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

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February 2019 The PBR1000: A Sweetheart of a Month for The Stock Market Bull

The February 2019 US Major Stock Market Exchanges Summary

The PBR1000 February 2019 Snapshots

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

Table 2(S12): The PBR1000 Top 5 Year-To-Date Stock Price % Gainers

Table 3(S13): The PBR1000 Top 5 14 Months Stock Price % Gainers

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

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

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