November 2017: A Busy Month Ending With Being Thankful
A lot happened in the world, but much of the political and economic activity and issues continue to center around US policies and actions.
Here are The PBR1000 corporate and economic related breaking news items of interest with hotlinks to the sources for November 2017, starting with the last active business day.
***Thursday, November 30:
The PBRMarketTools US Stock Exchanges Recap for November Ending 11/30/17:
DJIA ends at record 24,272.35, +3.03% from last Friday, +3.83% MTD, +8.33% QTD, +22.82% YTD, +0.00% from record 24,272.35 set 11/30/17.
NASDAQ ends at 6,873.97, -0.22% from last Friday, +2.17% MTD, +5.82% QTD, +27.69% YTD, -0.56% from record 6,912.36 set 11/28/17.
SPX ends at record 2,647.58, +1.74% from last Friday, +2.81% MTD, +5.09 QTD, +18.26% YTD, +0.00% from record 2,647.58 set 11/30/17.
Amazon(PBR29) AWS unit announces Alexa for Business to voice-enable offices. $AMZN PR link.
Rush Enterprises(PBR505) authorizes new up to $40 million share repurchase program. $RUSHB PR link.
TimeInc(PBR661) sells 6.5 million subscribers across digital, print and social platforms American West focus publication SUNSET to private equity firm Regent, terms not disclosed. $TIME PR link.
Penn Natl Gaming(PBR750) confirms it is in talks about acquiring Pinnacle Entertainment(NASDAQ: PNK) in a stock/cash transaction. $PENN PR link.
Curtiss-Wright(PBR837) authorizes $50 million share repurchase program for 2018. $CW PR link.
Express(PBR860) authorizes new $150 million share repurchase program. $EXPR PR link.
Verisk Analytics(PBR943) to acquire anticipated $36 million in 2017 revenues energy sector analytics firm PowerAdvocate for $200 million. $VRSK PR link.
Alphabet(PBR44)’s Google Cloud unit hires former Intel(PBR51) Data Center Group President Diane Bryant as COO. $GOOG PR link.
United Technologies(PBR45) hires Paul Eremenko as SVP/Chief Technology Officer, effective 01/01/18, succeeds J. Michael McQuade, who will retire in 2018. $UTX PR link.
Intel(PBR51) Data Center unit Group President Diane Bryant to retire effective 12/01/17, to receive $4.5 million separation payment and receive agreed to retirement benefits. $INTC PR link.
Tyson(PBR80) hires Amy Tu as EVP/General Counsel, effective 12/11/17, will succeed David L. Van Bebber who will help in the transition. $TSN PR link.
TravelCenters(PBR341) President/CEO Thomas M. O’Brien resigns, effective 12/31/17; EVP/CFO & Treasurer Andrew J. Rebholz to be new CEO, EVP Barry A. Richards to become President/COO, SVP/Chief Accounting Officer William E. Myers to become EVP/CFO & Treasurer. $TA PR link.
Ryman Hospitality(PBR991) elects Fazal Merchant, COO/CFO of Tanium, to the Board. $RHP PR link.
The US Dept of Treasury says the US National Debt on 11/29/17 was $20.565 trillion, +0.6% from 10/31/17, +2.9% YTD, +3.2% from 11/29/16. USTreasury PR link.
The US Dept of Labor says US Weekly Initial Unemployment Claims for 11/25/17 was 238,000, 4 Week Moving Average for 11/18/17was 242,250, +1.2% from 10/21/17, -5.3% from 11/19/16. USDOL PR link.
The Federal Reserve Bank of Chicago says the 7th District Preliminary October Midwest Economy Index is at -0.12, September was -0.12, August +0.08, October 2016 +0.07. ChiFed PR link.
The MNI November Chicago Business Barometer is at 63.9, October was 66.2, September 65.2, November 2016 57.6. MNI PR link.
FreddieMac(PBR41) says US 30 Year Fixed Mortgage Rate on 11/30/17 Averaged 3.90% with 0.5 fees/points, 10/26/17 was 3.94%, 09/28/17 3.83%, 11/23/16 4.03%. $FMCC PR link.
The US Food and Drug Administrationprovides an update on Puerto Rico related medical product shortages. FDA PR link.
The American Automobile Assn says the US National Average Price for a Gallon of Regular Gas on 11/30/17 was $2.495, +1.1% from 10/31/17, +16.1% from 11/30/16. AAA PR link.
***Wednesday, November 29:
Verizon(PBR15) to launch first commercial application of 5G residential broadbandservices in up to 5 markets in 2018, tested in 11 markets in 2017. $VZ PR link.
Amazon(PBR29) says nearly 140 million items ordered from small businesses on Cyber Monday, single biggest shopping day in Amazon’s history, surpassing Prime Day 2017. $AMZN PR link.
Genworth Financial(PBR287) acquisition by privately held China Oceanside for $5.43/share, $2.7 billion cash closing extended from 11/30/17 to 04/01/18, allows additional time for regulatory reviews. $GNW PR link.
Caesars Entertainment(PBR314) to sell real estate assets of Harrah’s Las Vegas to VICI Properties for $1.14 billion cash, do leaseback, and to also acquire adjacent land from VICI to develop a planned new 300,000 sf convention center. $CZR PR link.
Orbital ATK(PBR655) stockholders approve $134.50/share, $9.2 billion cash, includes $1.4 billion in debt, acquisition by Northrop Grumman(PBR113), expects to close 1H18. $OA PR link.
Chipotle(PBR561) Chairman/CEO/Founder Steve Ells to become Executive Chairman upon appointment of CEO successor. $CMG PR link.
Viacom(PBR212) promotes Jose Tolosa to newly created role of Chief Transformation Officer. $VIA PR link.
Regis Corp(PBR912) hires Amanda Rusin as SVP/General Counsel and Secretary, effective in 01/18, succeeds departed Eric Bakken. $RGS PR link.
The US Dept of Commerce says US 3Q17 2nd Estimate Gross Domestic Product Annual Rate was at +3.3%, $19.509 trillion, +1.4% from 2Q17, +4.2% from 3Q16. USDOC PR link.
The US Energy Information Administrationsays that US Crude Oil Stocks on 11/24/17were at 453.7 million barrels, -0.8% from 10/20/17, -7.1% from 11/25/16. US Gas Prices on 11/27/17 averaged $2.533/gal, +2.2% from 10/23/17, +17.6% from 11/28/16. EIA PR link.
The Federal Reserve System releases the US November Beige Book, says US economic activity continued to increase at a modest to moderate pace in October and mid-November across the 12 Districts. TheFed PR link.
***Tuesday, November 28:
Amazon(PBR29) says millions of devices sold between Thanksgiving and Cyber Monday, Echo Dot and Amazon Fire TV Stick with Alexa Voice Remote were best-selling Amazon devices from any manufacturer in any category across all of Amazon.com. $AMZN PR link.
Wells Fargo(PBR30) to exit auto, homeowners, renters and umbrella personal insurance products business, last remaining insurance brokerage agency in its portfolio, to complete exit process in 1Q18. $WFC PR link.
Merck(PBR70) announces increased quarterly dividend and $10 billion share repurchase authorization. $MRK PR link.
Emerson Electric(PBR109) withdraws proposal to acquire Rockwell Automation(PBR380) for $225/share cash/stock, $29 billion, cites RA’s continued unwillingness to engage in discussions. $EMR PR link.
Kellogg(PBR198) partnering with the famous author, foodie/entertainer, lifestyle expert and designer Lauren Conrad to open its new cereal café in NYC’s Union Square neighborhood on 12/14/17. $K PR link.
Hess(PBR248) completes $650 million sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy, effective 01/01/18. $HES PR link.
BlackRock(PBR252) to acquire Citigroup(PBR28)‘s $31 billion in assets, 1,500 branches 20 million customers Mexico based subsidiary Citibanamex, terms not disclosed. $BLK PR link.
DaVita Healthcare(PBR302) acquires Tacoma, WA, based 1,000 primary care and specialty care independent physician association Northwest Physicians Network, terms not disclosed. $DVA PR link.
PVH(PBR328)’s Calvin Klein subsidiary announces partnership through 2020 with The Andy Warhol Foundation for the Visual Arts, to roll out first collection in 01/18. $PVH PR link.
Regal Entertainment(PBR686) confirms it is currently engaged in discussions with Cineworld Group plc about a possible all-cash acquisition of Regal at a price of $23.00 per share. $RGC PR link.
CrossAmerica Partners(PBR731) completes $72 million acquisition of certain assets of Holly Pond, AL, based 102 retail sites, 91 million gallons of unbranded fuel in 2016, Jet Pep. $CAPL PR link.
Buffalo Wild Wings(PBR981) to be acquired by Arby’s Restaurant Group for $157/share, $2.9 billion cash, includes net debt, to close in 1Q18. BWLD PR link.
Sonoco Products(PBR480) President/CEO Jack Sanders to retire effective 04/02/18, EVP/COO Rob Tiede named CEO-elect. $SON PR link.
The Andersons(PBR525) President/Rail Group Rash Shah to retire in 07/18, Joseph E. McNeely hired to be successor starting 01/08/18. $ANDE PR link.
Molson Coors(PBR558) International unit promotes Sergey Yeskov to President/CEO, effective 01/01/18. $TAP PR link.
Groupon(PBR652) hires Colin Bodell as Chief Technology Officer. $GRPN PR link.
RH(PBR915) promotes Sandra Stangl to President/Chief Merchandising & Business Development Officer, and David Stanchak to President/Chief Real Estate & Development Officer. $RH PR link.
Legg Mason(PBR709) appoints Michelle Goldberg, a venture capital investor, and Alison Quirk, a financial services industry senior executive, to the Board. $LM PR link.
The Federal Reserve Bank of Richmond says the 5th District November Manufacturing Index(Annualized) is at +30%, October was +12%, September +19%, November 2016 +6%. RichmondFed PR link.
The Federal Reserve Bank of Richmond says the 5th District November Service Sector Revenue Index(Annualized) is at +30%, October was +24%, September +22%, November 2016 +8%. RichmondFed PR link.
The Conference Board says US Preliminary November Consumer Confidence Index(1985=100) is at 129.5, October was 126.2. TCB PR link.
The US September S&P CoreLogic Case-Shiller Home Price Index(01/2000=100) is at 195.51, August was 194.82, July 193.90, September 2016 184.18. C-S PR link.
Adobe Systems(PBR557) says Cyber Mondayonline US sales were at $6,59 billion, a new record, $1 billion more than 2016, $1.59 billion from smartphones. $ADBE PR link.
OECD says global economy to grow by 3.6% in 2017, 3.7% in 2018, 3.6% in 2019. US to grow by 2.2% in 2017, 2.5% in 2018, 2.1% in 2019. OECD PR link.
***Monday, November 27:
Sears(PBR93) and its KMart unit announce free home delivery for online purchases on all orders over $399, through Monday, 12/25/17. $SHLD PR link.
Rite Aid(PBR105) completes pilot closing and first subsequent closings under the amended and restated asset purchase agreement entered into on 09/18/17, resulting in the transfer of 97 Rite Aid stores and related assets to Walgreens Boots Alliance(PBR36). Expects to complete $4.375 billion cash sale of 1,932 stores, three distribution centers and related inventory to WBA in spring 2018. $RAD PR link.
Polaris Industries(PBR531) celebrates the rolling off of its one-millionth RANGER® utility side-by-side vehicle off the assembly line in its Huntsville, AL, manufacturing facility. $PII PR link.
Meredith Corp(PBR994) to acquire TimeInc(PBR661) for $18.50/share, $2.8 billion cash, to close 1Q18. $MDP PR link.
Tenet Healthcare(PBR161) promotes Sandi Karrmann to SVP/Chief Human Resources Officer, succeeds Robb Webb who has retired. $THC PR link.
Peabody Energy(PBR372) hires Paul Richard as SVP/Chief Human Resources Officer. $BTU PR link.
CNO Financial(PBR559) hires Yvonne Franzese as Chief Human Resources Officer. $CNO PR link.
Freddie Mac(PBR41) elects Grace A. Huebscher, a real estate and capital markets executive, to the Board. $FMCC PR link.
NCR(PBR383) elects Deborah A. Farrington, co-founder/general partner of StarVest Partners and president of StarVest Management, to the Board. $NCR PR link.
The US Dept of Commerce/HUD says US Preliminary October Total New Family Homes Sold/For Sale Annual Rate is at 685,000, +6.2% from September, +18.7% from October 2016, October Median Sales Price is at $312,800, -3.7% from September, +3.3% from October 2016, October Total New Houses Available at 282,000, +1.4% from September, +13.7% from October 2016, October Months Supply at 4.9, September was 5.2, October 2016 5.2. HUD PR link.
Black Friday Results: Online sales exceed $5 billion. MarketWatch PR link.
***Friday, November 24:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 11/24/17:
DJIA ends at 23,557.99, +0.86% from last Friday, +0.77% MTD, +5.15% QTD, +19.20% YTD, -0.14% from record 23,590.83 set 11/21/17.
NASDAQ ends at record 6,889.16, +1.57% from last Friday, +2.40% MTD, +6.05% QTD, +27.98% YTD, +0.00% from record 6,889.16 set 11/24/17.
SPX ends at record 2,602.42, +0.91% from last Friday, +1.05% MTD, +3.30 QTD, +16.24% YTD, +0.00% from record 2,602.42 set 11/24/17.
DISH(PBR196) reaches multi-year carriage agreement with CBS(PBR210), channels being restored, terms of agreement not disclosed. $DISH PR link.
Tesla(PBR651 $TSLA) installs in South Australia the largest lithium ion battery in the world per news release by S Australia Premier Jay Weatherill. S Australia Govt PR link.
Hologic(PBR767) gets US FDA clearance of Quantra™ 2.2 Breast Density Assessment Software. $HOLX PR link.
***Thursday, November 23:
***US Thanksgiving Day.
***US Stock Exchanges Closed.
***Wednesday, November 22:
Kroger(PBR20) introduces BLOOM HAUS™, a new, premium and sustainable Our Brands floral line for Kroger’s family of stores, part of Restock Kroger Plan. $KR PR link.
Johnson & Johnson(PBR37)’s Janssen unit gets US FDA approval of first and only complete, single-pill, two-drug regimen, JULUCA® (Dolutegravir and Rilpivirine), for the treatment of HIV-1 infection. $JNJ PR link.
Rockwell Automation(PBR380) board unanimously rejects Emerson Electric(PBR109 $EMR) $225/share cash/stock, $29 billion total offer as undervalued. $ROK PR link.
Waddell & Reed(PBR968) EVP/Chief Marketing Officer Thomas Butch steps down, CFO Brent K. Bloss becomes COO, Nikki F. Newton to become President/IDI subsidiary, Shawn M. Mihal to become President/WRI subsidiary. $WDR PR link.
Avista(PBR990) SVP Dennis Vermillion to become President and member of the Board, VP/Customer Solutions Kevin Christie to become VP/External Affairs and Chief Customer Officer, both effective 01/01/18. $AVA PR link.
The Federal Reserve Open Market Committeereleases minutes from 10/31/-11/01/17 meeting, says labor market had continued to strengthen and that economic activity had been rising at a solid rate despite hurricane-related disruptions, inflation rate still below 2% target, forecasts continued moderate growth, indicates federal funds rate increase likely in near-term. FOMC PR link.
The U of Michigan US Final November Consumer Sentiment Index is at 98.5, Octoberwas 100.7, September 95.1, November 201693.8. UMich PR link.
***Tuesday, November 21:
DISH(PBR196) offers free over-the-air antennas for customers affected by CBS(PBR210)blackout. $DISH PR link.
CBS(PBR210) issues statement regarding DISH(PBR196) dropping nearly 400 CBS stations. $CBS PR link.
Avis Budget(PBR316) signs exclusive multi-year Qualified Vendor Agreement with 6,500 properties across 11 brands Choice Hotels International(NYSE:CHH) as preferred car rental partner. $CAR PR link.
VWR Corp(PBR506 $VWR) $33.25/share, $6.5 billion acquisition by Avantor is completed. Avantor PR link.
Great Plains Energy(PBR757) & Westar Energy(PBR747) shareholders approve merger of equals, transaction equity value is $14 billion, expects to close in 1H18. $WR PR link.
The Cheesecake Factory(PBR893) opens its first restaurant in Canada in Toronto, Ontario. $CAKE PR link.
Lowe’s(PBR50) promotes Richard D. Maltsbarger to COO effective 02/03/18, succeeds retiring Rick D. Damron. $LOW PR link.
Hewlett Packard Enterprises(PBR56) CEO Meg Whitman to step down effective 02/01/18, will remain on the Board, President Antonio Neri to add CEO and director roles as successor. $HPE PR link.
Biogen(PBR282) hires Jeffrey D. Capello as EVP/CFO effective 12/11/17. $BIIB PR link.
Salesforce(PBR453) names Bret Taylor as President/Chief Product Officer, names Alex Dayon President/Chief Strategy Officer. $CRM PR link.
Michael Kors(PBR519) hires Francesca Leoni as SVP/Chief Brand Officer effective 02/05/18. $KORS PR link.
Lands’ End(PBR976) hires Gill Hong as EVP/Chief Merchandising Officer & President/International; Sarah Rasmusen re-joins LE as SVP/E-Commerce. $LE PR link.
ServiceMaster(PBR704) appoints Naren K. Gursahaney, former President/CEO of ADT Corporation, to the Board effective 12/01/17. $SERV PR link.
The Natl Assn of Realtors says US October Total Existing Home Sales Annual Rate is at 5.48 million, +2.0% from September, -0.9% from October 2016, October Median Sales Pricewas $247,000, +0.8% from September, +5.5% from October 2016. NAR PR link.
The Federal Reserve Bank of Chicago says the US October Chicago Fed National Activity Index is at +0.65, September was +0.36, August -0.16, October 2016 -0.05. ChiFed PR link.
***Monday, November 20:
The US Dept of Justice files civil antitrust lawsuit to block AT&T(PBR12 $T) acquisition of Time Warner(PBR103 $TWX). USDOJ PR link.
AT&T(PBR12) to challege US Dept of Justicelawsuit to prevent AT&T’s $85.4 billion acquisition of Time Warner(PBR103 $TWX). $T PR link.
AmerisourceBergen(PBR16) to acquire Springfield, IL, based largest privately held US healthcare products wholesaler HD Smith for $815 million cash. $ABC PR link.
Amazon(PBR29) Prime original anthology series Philip K. Dick’s Electric Dreams debuts on 01/12/18, 10 episodes. $AMZN PR link.
Tyson(PBR80) to build a new chicken production complex in Humboldt, TN, to employ 1,500+, process 1.25 million chickens/week, to begin operations late 2019. $TSN PR link.
Medtronic(PBR133) gets US FDA approval and launches in US its portfolio of Azure(TM) pacemakers with BlueSync(TM)technology. $MDT PR link.
Fidelity Natl Financial(PBR331) completes split-off of equity investment unit Cannae Holdings as a separate public company, trading as NYSE: CNNE. $FNF PR link.
Mohawk Industries(PBR339) to acquire $334 million in 2017 revenues Godfrey Hirst Group, the leading flooring company in Australia and New Zealand, terms not disclosed. $MHK PR link.
Armstrong World(PBR772) to sell its 1,900 employees $425 million revenues /2017 EMEA and Pacific Rim businesses to Knauf International GmbH for an enterprise value of $330 million, to close mid 2018. $AWI PR link.
Scientific Games(PBR937) SG Interactive unit integrates games portfolio into Petfre(Gibralter)’s Betfred.com site in new partnership. $SGMS PR link.
Pentair(PBR363) hires Lynnette Heath as EVP/Chief Human Resources Officer, Jon Lammers as EVP/General Counsel and Secretary, and Ben Sommerness as EVP/Chief Growth and Strategy Officer for Pentair’s Electrical business, nVent, which will be an independent public spin-off in 2Q18. $PNR PR link.
M&T Bank(PBR504) elects John R. Scannell, Chairman/CEO of Moog(PBR737), to the Board. $MTB PR link.
Carpenter Technology(PBR856) appoints Kathleen Ligocki, CEO of Agility Fuel Solutions, to the Board. $CRS PR link.
Federal Reserve System Board of Governors Chair Janet Yellen submits resignation, to be effective upon the swearing in of her successor as Chair. TheFed PR link.
The Conference Board says US Preliminary October Leading Economic Index(2010=100)is at 130.4, September was 129.2, August129.1, October 2016 124.2, indicates solid growth to continue into 2018. TCB PR link.
FreddieMac US November 2017 Outlookforecasts low interest rates to creep up over next 2 years, housing construction to gradually pick up because of inventory shortages, mortgage market to be dominated by purchase activity, refinancing to drop to very low levels. TCB PR link.
The Organisation for Economic Co-operation and Development says 3Q17 OECD Area GDPslowed to +0.6%, 2Q17 was +0.8%. US was down marginally to +0.7%. OECD PR link.
The Nebraska Public Services Commissionapproves the TransCanada Keystone Pipelineproposed route by a vote of 3-2(Page 51). NPSC PR link.
***Friday, November 17:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 11/17/17:
DJIA ends at 23,358.24, -0.27% from last Friday, -0.08% MTD, +4.25% QTD, +18.19% YTD, -0.87% from record 23,563.36 set 11/08/17.
NASDAQ ends at 6,782.79, +0.47% from last Friday, +0.82% MTD, +4.42% QTD, +26.00% YTD, -0.15% from record 6,793.29 set 11/16/17.
SPX ends at 2,578.85, -0.13% from last Friday, +0.14% MTD, +2.36 QTD, +15.19% YTD, -0.60% from record 2,594.38 set 11/08/17.
Walmart(PBR1 $WMT) among first to preorder electric Tesla(PBR651) Semi trucks, reserves 5 for US operations, 10 for Walmart Canada, total fleet is 6,000 trucks. MarketWatch PR link.
Delta(PBR72) and Korean Air joint venture arrangement to grow trans-Pacific networkserving 290+ destinations in the Americas and 80+ in Asia approved by the US Dept of Transportation. $DAL PR link.
YUM!(PBR217) authorizes up to $1.5 billion share repurchase program through 12/31/18. $YUM PR link.
JB Hunt(PBR403) places reservations for multiple Tesla(PBR651 Semi tractors, to deploy electric tractors to its Intermodal and Dedicated Contract Services divisions for West Coastoperations. $JBH PR link.
Markel(PBR470) completes $21.00/share, $919 million cash acquisition of State National Cos(NASDAQ: SNC), will operate as an independent division. $MKL PR link.
Manitowoc(PBR579) shareholders approve 1:4 reverse stock split, 300 million to 75 million shares, to be effective on 11/20/17. $MTW PR link.
Tesla(PBR651 $TSLA) unveils electric Tesla Semi with 500-mile range, to carry up to 80,000 lbs, to be available in 2019, base price $200,000.MarketWatch PR link.
Brocade Communications(PBR845)$12.75/share, $5.9 billion cash acquisition by Singapore based Broadcom Ltd(NASDAQ: AVGO) is completed. $BRCD PR link.
Wells Fargo(PBR30) releases statement regarding its dismissal of SVP & Head of Consumer Lending Franklin Codel regarding a personal communication issue. $WFC PR link.
Cleveland-Cliffs(PBR518) EVP/COO P. Kelly Tompkins to retire effective 12/31/17. $CLF PR link.
The US Dept of Commerce/HUD says US Preliminary October Total Housing Permits Issued Annual Rate is at 1,297,000, +5.9% from September, +0.9% from October 2016. HUD PR link.
***Thursday, November 16:
Walmart(PBR1) 3Q18 comp sales up 2.7%, comp traffic up 1.5%, US eCommerce sales up 50%. $WMT PR link.
Pfizer(PBR56) gets US FDA approval for SUTENT® (sunitinib malate) as first and only adjuvant treatment for adult patients at high risk of recurrent renal cell carcinoma. $PFE PR link.
PayPal(PBR252) to sell Synchrony Financial(PBR172 $SYF) $6.8 billion in receivables, including PayPal’s U.S. consumer credit receivables portfolio, and around $1 billion in participation interests in receivables held by certain investors and a financial institution, expects to close 3Q18. In agreement extension Synchrony to also become exclusive US issuer of PayPal Credit for 10 years. $PYPL PR link.
Caesars Entertainment(PBR314) to acquire Centaur Holdings for $1.7 billion, includes Hoosier Park Racing and Casino in Anderson, IN, and the Indiana Grand Racing and Casinoin Shelbyville, IN. $CZR PR link.
Merit Medical(NASDAQ: MMSI), upon Becton Dickinson(PBR318 $BDX) acquisition of CR Bard(PBR637 $BCR), to acquire BD’s Achieve™ Programmable Automatic Biopsy System, Temno™ Biopsy System and Tru-Cut™ Biopsy Needles assets and CRB’s Aspira® Pleural Effusion Drainage Kits and the Aspira® Peritoneal Drainage Systemassets for $100 million. $MMSI PR link.
PVH(PBR328)’s Calvin Klein subsidiary and Amazon(PBR29) Fashion unit announce CALVIN KLEIN X Amazon Fashion holiday retail NYC and Los Angeles pop up stores and online experience through 12/31/17. $PVH PR link.
FIS(PBR394) to sell its SunGard Kingstar Data System (China) Co business to Zhongping Capital, to close 1Q18, terms not disclosed. $FIS PR link.
Barnes & Noble(PBR408) rejects $650 million acquisition proposal by Sandell Asset Management to make company private. $BKS PR link.
SCANA(PBR489) subsidiary to acquire S Carolina 540 megawatt natural gas fired power plant from Columbia Energy for $180 million. $SCG PR link.
SCANA(PBR489) subsidiary proposes $4.8 billion solution to replace the abandoned S Carolina V.C. Summer Station nuclear construction project with 540-megawatt natural-gas-fired power plant and 100 megawatt solar energy facility. $SCG PR link.
Williams-Sonoma(PBR508) to acquire 3-D imaging and augmented reality platform for the home furnishings and décor industry provider Outward for $112 million cash. $WSM PR link.
Iron Mountain(PBR663) to acquire Chineserecords management operations of Santa Fe A/S, includes five facilities in China serving 700 customers, with storage volumes that include one million cubic feet of records and 51,000 data protection assets, terms not disclosed. $IRM PR link.
Insperity(PBR814) to do 2:1 stock split in the form of a 100% stock dividend effective 12/18/17, will also do a special $2/share dividend, authorizes an additional 500,000 shares for share repurchase program, balance available to be 2,800,000 shares after stock split. $NSP PR link.
SL Green Realty(PBR862) to sell midtown Manhattan 36 story 300,000+ sf office building 600 Lexington Avenue for $305 million, to close 1Q18. $SLG PR link.
Griffon Corp(PBR890) to sell its Clopay Plastic Products unit to Berry Global(PBR488 $BERY)for $475 million cash, to close in 1Q18. $GFF PR link.
Meredith Corp(PBR994) Allrecipes.com unit to include Amazon(PBR29)’s AmazonFreshdelivery service option initially in site’s top recipes. $MDP PR link.
Markel(PBR470) EVP/CFO Anne G. Waleski to transition out of CFO role by end of 1Q19, to be succeeded by Jeremy Noble. $MKL PR link.
The Andersons(PBR525) hires Jeffrey Blair as President/Plant Nutrient Group, effective 12/04/17, succeeds retiring Bill Wolf. $ANDE PR link.
Verisk Analytics(PBR943) hires Lee M. Shavel as EVP/CFO, succeeds Eva Huston who will be leaving after 3 months transition. $VRSK PR link.
Tyson(PBR80) appoints Dean Banks, Project Lead for Alphabet(PBR44)’s X ‘moonshot technologies’ unit, to the Board. $TSN PR link.
CBRE(PBR301) appoints Sanjiv Yajnik, President of Capital One(PBR116) Financial Services, to the Board. $CBG PR link.
SunTrust Banks(PBR307) appoints Steve Voorhees, CEO of WestRock(PBR278), to the Board, effective 01/01/18. $STI PR link.
Markel(PBR470) Vice Chairman F. Michael Crowley to retire on 12/31/17. $MKL PR link.
The US Dept of Labor says US Preliminary October Import Prices were +0.2%, September was +0.8%, Last 12 Months +2.5%; October Export Prices were +0.0%, September was +0.7%, Last 12 Months +2.7%. USDOL PR link.
The Federal Reserve Board says US Preliminary October Total Industrial Capacity Utilization was at 77.0%, September was 76.4%, August 76.1%, Capacity Growth Over Previous Year at +1.2%. USFed PR link.
The Federal Reserve Board of Philadelphiasays the US 3rd District November Manufacturing General Activity Indicator is at 22.7, October was 27.9, September 23.8, November 2016 8.7. PhillyFed PR link.
The Natl Assn of Home Builders says US Preliminary November Composite Housing Market Index is at 70, October was 68, September 64, November 2016 63. NAHB PR link.
***Wednesday, November 15:
Amazon(PBR29) Whole Foods unit lowers prices on additional best-selling grocery items and holiday staples, Amazon Prime members get additional discounts, to become Whole Foods Rewards program. $AMZN PR link.
Qualcomm(PBR106) gets US FDA approval for Capsule™ Vitals Plus integrated surveillance solution. $QCOM PR link.
Viacom(PBR212) and Charter Communications(PBR297) do multi-year renewal and expansion of their distribution relationship, as well as a new partnership for the co-production of original content, and collaboration around advanced advertising. $VIA PR link.
Diplomat Pharmacy(PBR515) to acquire $388 million in revenues/year St Louis, MO, based full-service pharmacy benefit manager LDI Integrated Pharmacy Services for $515 million cash plus $80 million in stock. $DPLO PR link.
TimeInc(PBR631) launches new streaming media network Sports Illustrated TV (SI TV), starts 11/16/17 on Amazon(PBR29) Channels, available to Amazon Prime members for $4.99/mo. $TIME PR link.
Trimble Navigation(PBR804) authorizes up to $600 million share repurchase program with no expiration date. $TRMB PR link.
3M(PBRR92) to promote Kristen Ludgate to SVP/Corporate Communications and Enterprise Services, effective 01/01/18, succeeds retiring Kimberly Price. $MMM PR link.
Skechers(PBR808) hires John Vandemore as CFO, will report to COO David Weinberg who had also been acting CFO. $SKX PR link.
Proctor & Gamble(PBR33) announces preliminary proxy vote tabulation results, indicates activist investor Nelson Peltz has won a board seat by .0016% of shares outstanding, results to be finalized in a few weeks. $PG PR link.
The US Dept of Labor says US October Consumer Price Index(All Items) was +0.1%, September was +0.5%, August +0.4%, October 2016 +0.4%, Last 12 Months(Unadjusted) +2.0%. USDOL PR link.
The US Dept of Labor says US Preliminary October Current Average Employee Earnings/Hour is at $26.53, -0.04% from September, +2.4% from October 2016, Average Hours Worked/Week at 34.4. USDOL PR link.
The US Dept of Commerce/Census says US Preliminary September Total Manufacturers/Retailers/Wholesalers Saleswere $1.390 trillion, +1.4% from August, +6.4% from September 2016. USDOC PR link.
The US Dept of Commerce/Census says US Advance October Total Retail Sales were at $486.6 billion, +0.3% from September, +4.6% from October 2016. USDOC PR link.
The Federal Reserve Bank of New York November Empire State Manufacturing Current Business Conditions Index is at 19.4, October was 30.2, September 24.4, November 2016 2.2. NYFed PR link.
***Tuesday, November 14:
CVS Health(PBR11) commits to hiring 5,000 new apprentices by 2022, expands states involved from 11 to 18. $CVS PR link.
Cardinal Health(PBR26) to sell Chinapharmaceutical and medical products distribution business to Shanghai Pharma for $1.2 billion. $CAH PR link.
Cisco(PBR60) announces $1 billion funding for City Infrastructure Financing Acceleration Program to make it easier, faster, and affordable for cities worldwide to fund and adopt technologies to transform their communities. $CSCO PR link.
AGCO(PBR280) terminates tender offer of $7.03/share, $185 million for Brazil based grain storage & handling equipment manufacturer Kepler Weber SA. $AGCO PR link.
LAM Research(PBR520) authorizes up to $2 billion share repurchase program over next 12-18 months. $LRCX PR link.
Twitter(PBR735) introduces Twitter premier APIs for developers, priced between free Standard APIs and higher fee based Enterprise APIs, premium Search Tweets API starts at $149/mo. $TWTR PR link.
SL Green Realty(PBR862) to sell 43% stake of 1515 Broadway property in New York City to Allianz Real Estate, values 1.86 million sf, Class-A Times Square office building at $1.950 billion, SLG to realize cash proceeds of $416 million. $SLG PR link.
Marathon Petroleum(PBR23) EVP/Human Resources, Health and Administrative Services Rodney Nichols to retire effective 01/01/18, David R. Sauber to be successor as SVP. $MPC PR link.
Air Products(PBR267) amends, restates, and extends employment agreement to 09/30/22 for Chairman/President/CEO Seifi Ghasemi. $APD PR link.
GameStop(PBR294) CEO J. Paul Raines has reoccurrence of medical issue, seeking treatment, Executive Chairman Daniel DeMatteo adds Interim CEO role. $GME PR link.
Keysight Technologies(PBR660) Ixia Solutions Group president Bethany Mayer to leave effective 12/01/17, Mark Pierpoint to be acting president. $KEYS PR link.
Intl Flavors & Fragrances(PBR666) and Master Perfumer Carlos Benaim celebrate 50 years together. $IFF PR link.
AFLAC(PBR121) director Kriss Cloninger III to retire from the Board, effective 12/31/17; Katherine T. Rohrer, PhD, vice provost emeritus and interim associate dean of the graduate school at Princeton University, is appointed to the Board, effective immediately. $AFL PR link.
Gap Inc(PBR179) appoints Chris O’Neill, CEO of Evernote corporation, to the Board, effective 02/04/18. $GPS PR link.
The US Dept of Labor says US October Total Monthly Final Demand Producer Price Indexis at +0.4%, September was +0.4%, August+0.2%, October 2016 +0.3%, Last 12 Months+2.3%. USDOL PR link.
CoreLogic says US August Housing Loans 30 or More Days Delinquent were at 4.6%, Total in Foreclosure is at 0.6%, August 2016 was 5.2% and 0.9%, respectively. CoreLogic PR link.
***Monday, November 13:
The PBR1000 Top 5 October YTD Stock Price Gainers(Company, Rank by Revenues, Stock Symbol, Stock Price 10/31/17, % Change from 12/31/16) are:
1. Weight Watchers(PBR986), WTW, $44.92, +292%
2. Scientific Games(PBR693), SGMS, $47.60, +240%
3. Systemax(PBR902), SYX, $28.55, +226%
4. Restoration Hardware(PBR810), RH, $89.92, +193%
5. Tronox(PBR820), TROX, $26.47, +157%
Range: +292% to -82%
Number of Companies >0.0%: 650/1,001
Average: +14.75%
Median: +9.85%
Walmart(PBR1) to open a Lord & Taylorflagship shop on Walmart.com in Spring 2018. $WMT PR link.
GE(PBR9 $GE) unveils transformation plan, cuts quarterly dividend by 50% to $0.12/share, to reduce board from 18 to 12 members, focus on 3 business areas. MarketWatch PR link.
Marathon Petroleum(PBR23) to drop down refining logistics assets and fuels distribution services to MPLX LP (NYSE: MPLX) for $8.1 billion cash/stock. $MPC PR link.
Amazon(PBR29) to adapt J.R.R. Tolkien’s The Lord of the Rings for television with a multi season production commitment. $AMZN PR link.
Qualcomm(PBR106) board unanimously rejects as significantly undervalued the Broadcom(NASDAQ: AVGO) $60.00/share cash plus $10.00/Broadcom share acquisition offer. $QCOM PR link.
Broadcom(NASDAQ: AVGO) announces it is fully committed to acquisition of Qualcomm(PBR106 $QCOM), even though its $70/share offer has been rejected. $AVGO PR link.
Allergan(PBR219) gets US FDA approval for use of VRAYLAR™ (cariprazine) in the maintenance treatment of schizophrenia. $AGN PR link.
Live Nation(PBR366) TicketMaster unit continues European expansion with launch in Italy. $LYV PR link.
NVIDIA(PBR510) introduces world’s most advanced data center GPU — the NVIDIA® Tesla® V100 GPU, based on its Volta architecture, which has been chosen by every major computer maker and cloud provider, for artificial intelligence and high performance computing. $NVDA PR link.
Arthur J Gallagher(PBR515) acquires Westlake Village, CA, based property/casualty insurance agency Associated Insurance Services, terms not disclosed. $AJG PR link.
American Tower(PBR562) India subsidiary to acquire tower businesses of Vodafone India and Idea Cellular for $1.2 billion, includes 20,000 communications sites. $AMT PR link.
GGP(PBR765) confirms receipt of unsolicited $23.00/share, around $21 billion, cash offer from Brookfield Property(NYSE: BPY), special committee formed to review proposal. $GGP PR link.
Pfizer(PBR56) to promote Dr. Albert Bourla to newly created position of COO, effective 01/01/18, additional supporting roles appointments announced. $PFE PR link.
SuperValu(PBR164) promotes Anne Dament to EVP/Retail, Marketing and Private Brands; EVP/General Counsel & Corporate Secretary Karla Robertson leaving, effective 11/17/17, Stuart McFarland to be successor. $SVU PR link.
Weyerhaeuser(PBR355) to promote Devin Stockfish to SVP/Timberlands, effective 01/01/18, succeeds retiring Rhonda Hunter. $WY PR link.
Pentair(PBR363) hires Karla Robertson as corporate EVP/General Counsel & Secretary, and Kelly Baker as EVP/Chief Human Resources Officer/Water, which is to become a separate public company 2Q18. $PNR PR link.
Gannett(PBR414)’s USA TODAY NETWORKreorganizes into two primary businesses, Sharon Rowlands appointed President, Marketing Solutions, and Maribel Perez Wadsworth appointed President & head of Consumer Business, other supporting roles appointments also mentioned. $GCI PR link.
American Axle & Mfg(PBR602) hires David M. Buckley as VP/Strategic & Business Development. $AXL PR link.
TSYS(PBR790) Senior EVP & President/NetSpend Chuck Harris leaving, effective 12/31/17, to become Executive Director of non-profit U of Texas Alumni Association. $TSS PR link.
Apollo Global Mgmt(PBR906) promotes Scott Kleinman and James Zelter to Co-Presidents, effective 01/01/18. $APO PR link.
FTI Consulting(PBR941) hires Leslie Moeller as Chairman of North and South America. $FCN PR link.
Humana(PBR58) elects Karen B. DeSalvo, MD, former Assistant Secretary for Health, US Dept of Health & Human Services, to the Board. $HUM PR link.
Lincoln Financial(PBR213) elects Lynn M. Utter, CEO of First Source, a packager and distributor of confectionery products, nuts, snacks and specialty foods sold to retailers throughout the US, to the Board. $LNC PR link.
The US Dept of Treasury says US October and YTD(1 month) Federal Government Receipts were $235.3 billion, Outlays $298.6 billion, Deficit $63.2 billion, October 2016 Deficit was $45.8 billion. USTreasury PR link.
***Friday, November 10:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 11/10/17:
DJIA ends at 23,422.21, -0.50% from last Friday, +0.19% MTD, +4.54% QTD, +18.52% YTD, -0.60% from record 23,563.36 set 11/08/17.
NASDAQ ends at 6,750.94, -0.20% from last Friday, +0.35% MTD, +3.93% QTD, +25.41% YTD, -0.56% from record 6,789.12 set 11/08/17.
SPX ends at 2,582.30, -0.21% from last Friday, +0.27% MTD, +2.50 QTD, +15.34% YTD, -0.47% from record 2,594.38 set 11/08/17.
Avnet(PBR100) adds $200 million to share repurchase program, balance is now $500 million, no expiration date. $AVT PR link.
Bristol-Myers Squibb(PBR185) gets US FDA expanded use indication of for Sprycel® (dasatinib) tablets to include the treatment of children with Philadelphia chromosome-positive (Ph+) chronic myeloid leukemia (CML) in chronic phase (CP). $BMY PR link.
Praxair(PBR233) merger with Germany based Linde AG(Xetra: LIN) to become a $30 billion/year Linde plc exchange offer minimum ratio exceeds 75% by 11/07/17 deadline, antitrust and regulatory approvals still needed, expects to close in 2H18. $PX PR link.
PayPal(PBR252) discovers vulnerabilities and data security issues in payments processing networks of its recently acquired TIO Networksunit, suspends TIO’s processing services during investigation, no affect on PayPal’s separate networks. $PYPL PR link.
Allison Transmission(PBR865) produces 500,000th fully automatic transmission in its 4000 Series, started in 1993, for commercial-duty vehicles. $ALSN PR link.
Deckers Outdoor(PBR929) stockholders letter encourages voters to re-elect current board, reject Marcato Capital Management nominees, at annual meeting scheduled for 12/14/17. $DECK PR link.
SunCoke Energy(PBR991)Chairman/President/CEO Frederick Henderson to retire effective 12/01/17, Michael Rippey hired to be President/CEO successor, lead director John Rowe to become non-Executive Chairman effective 01/01/18. $SXC PR link.
Simon Property(PBR494) appoints Stefan Selig, former US Undersecretary of Commerce for International Trade and former financial services executive, to the Board. $SPG PR link.
***US Federal Government Offices closed in observance of Veterans Day.
***US Stock Markets are open.
The U of Michigan US Preliminary November Consumer Sentiment Index is at 97.8, Octoberwas 100.7, August 95.1, November 2016 93.8. UMich PR link.
***Thursday, November 9:
The PBR1000 CEO Changes in October 2017(Company, PBR Ranking by Revenues Last Fiscal Year, Stock Symbol, new CEO, CEO Title):
Dentsply Sirona(PBR572), XRAY, Mark Thierer, Interim CEO
H&R Block(PBR668), HRB, Jeff Jones, President/CEO
Kellogg Co(PBR208), K, Steven Cahillane, CEO
Sanmina-SCI(PBR388), SANM, Bob Eulau, President/CEO
Tenet Healthcare(PBR127), THC, Ronald Rittenmeyer, Executive Chairman/CEO
Tiffany & Co(PBR546), TIF, Alessandro Bogliolo, CEO
Vista Outdoor(PBR734), VSTO, Christopher Metz, CEO
Whirlpool(PBR130), WHR, Marc Bitzer, CEO
Kroger(PBR20) hiring an estimated 14,000 part-time and seasonal associates across its family of companies. $KR PR link.
Boeing(PBR27), China announce sale of 300 airplanes valued at $37+ billion during Presidential Trade Mission. $BA PR link.
Walt Disney(PBR57 $DIS) to charge ‘substantially’ less than Netflix(PBR447) for streaming, plans new ‘Star Wars’ content.MarketWatch PR link.
Merck(PBR70) gets US FDA Approval of PREVYMIS™ (letermovir) for prevention of Cytomegalovirus (CMV) infection and disease in adult allogeneic stem cell transplant patients. $MRK PR link.
Qualcomm(PBR106) Technologies subsidiary signs 3 non-binding Memoranda of Understandings for total of $12 billion in components sales with Xiaomi, OPPO and vivoas part of a bilateral trade mission in China. $QCOM PR link.
Office Depot(PBR182) enters business services sector by completing $1 billion acquisition of $1.1 billion/year 6,000 licensed technicians IT services, products and solutions provider CompuCom Systems. $ODP PR link.
NGL Energy(PBR207) to sell its 50% Interest in Glass Mountain Pipeline to an affiliate of BlackRock(PBR252)’s Global Energy and Power Infrastructure Fund for $300 Million. $NGL PR link.
Air Products(PBR267) signs agreement for a $3.5 billion coal-to-syngas production facility to be built in Yulin City, Shaanxi Province, China, as part of the Trade Mission to China led by the US Department of Commerce. $APD PR link.
Electronic Arts(PBR527) to acquire Respawn Entertainment, developers of AAA shooter and Titanfall, for $151 million cash plus $164 million in long term equity over 4 years, plus up to $140 million based on performance milestones. $EA PR link.
SemGroup(PBR866) to sell its 50% interest in Glass Mountain Pipeline to an affiliate of BlackRock(PBR252)’s Global Energy and Power Infrastructure Fund in partnership with Navigator Energy Services for $300 million. $SEMG PR link.
Cenveo(PBR899) sells its Quality Park Products with its 2 US manufacturing facilities office products envelope business to LSC Communications (NYSE: LKSD), terms not disclosed. $CVO PR link.
PharMerica(PBR911) stockholders approve $29.25/share, $1.4 billion cash, includes debt, acquisition by KKR(PBR332) with Walgreens Boots Alliance(PBR36) to be a minority investor, to close in early 2018. $PMC PR link.
Stanley Black & Decker(PBR249) hires Dr. Mark Maybury as its first Chief Technology Officer. $SWK PR link.
Range Resources(PBR726) EVP/CFO Roger Manny to retire on 05/16/18, VP/Finance & Treasurer Mark Scucchi to be SVP/CFO successor. $RRC PR link.
Kaman Corp(PBR934) promotes Alphonse J. Lariviere, Jr., to President/Distribution Group, succeeds departed Steven Smidler. $KAMN PR link.
Tenet Healthcare(PBR161) appoints 2 new independent directors, Richard Fisher, former President/CEO of the Federal Reserve Bank of Dallas, and Richard Mark, Chairman/CEO Ameren Illinois Co & former President/CEO of St Mary’s Hospital in E St Louis. $THC PR link.
The US Dept of Commerce/Census says US Preliminary September Total Wholesale Saleswere at $480.5 billion, +1.3% from August, +8.5% from September 2016. USDOC PR link.
FreddieMac(PBR41) comments in its November Insight on the growing concern of the US being in a house price bubble. Spoiler alert: ‘Not yet.’ $FMCC PR link.
Brown University study says US war costs since 9/11 are at $4.3 trillion, to be $5.6 trillion by 2018 fiscal year end. BrownU PR link.
***Wednesday, November 8:
The October The PBR1000 Top 5 By Market Capitalization(Company, Rank by Revenues, Stock Symbol, Market Cap on 10/31/17, Stock Price on 10/31/17, YTD Stock Price Change) are:
1. Apple(PBR4), AAPL, $873B, $169.04, +46%
2. Alphabet(PBR27), GOOG, $704B, $1,016.64, +32%
3. Microsoft(PBR28), MSFT, $641B, $83.18, +34%
4. Amazon(PBR12), AMZN, $531B, $1,105.28, +47%
5. Facebook(PBR95), FB, $523B, $180.06, +57%
Range: $873B to $0.01B
Total The PBR1000: $24.859 trillion(1,002 companies), +2.1% from 09/29/17, +13.7% from 12/31/16, +23.4% from 12/31/15
Average: $24.809B;
Median: $6.12B
Apple(PBR5 $AAPL) picks up drama series starring Jennifer Aniston, Reese Witherspoon.MarketWatch PR link.
Boeing(PBR27) completes acquisition of Manassas, VA, based 550 employees across 6 states autonomous systems technologies to enable advanced robotic aircraft for future aerospace applications and vehicles developer Aurora Flight Sciences, terms not disclosed. $BA PR link.
Amazon(PBR29) to open 4th fulfillment center in Baltimore, MD, area, 855,000 sf in Sparrows Point, to employ 1,500+. $AMZN PR link.
Sears(PBR93) does agreement with Pension Benefit Guaranty Corporation to release approximately 140 Sears properties from ring-fence arrangement in exchange for $407 million of contributions to its pension plans. $SHLD PR link.
Capital One(116 $COF) to stop originating mortgage and home-equity loans, continue to service existing mortgages, to cut 1,100 jobs.MarketWatch PR link.
iHeartMedia(PBR397) in 3Q17 10-Q reportsays seeking to refinance debt obligations, concerned about being a viable concern after next 12 months. $IHRT PR link.
Calumet Specialty(PBR431) completes $435 million cash plus around $60 million for other items sale of Superior, WI, refinery and assets to a Husky Energy unit. $CLMT PR link.
Noble Energy(PBR471) to divest around 30,200 net acres, with approximately 4,100 barrels of oil equivalent per day, from the its non-core DJ Basin position in Weld County, CO, to SRC Energy for $608 million. $NBL PR link.
Activision Blizzard(PBR540)’s Call of Duty®: WWII has surpassed more than $500 million in sell-through worldwide in its first three days of release. $ATVI PR link.
Whiting Petroleum(PBR667) to do 1:4 reverse stock split, effective 11/09/17. $WLL PR link.
EnerSys(PBR776) authorizes new $100 million stock repurchase program, no deadline set. $ENS PR link.
Allison Transmission(PBR865) authorizes additional up to $500 million share repurchase program, balance available is now $1.5 billion through 12/31/19. $ALSN PR link.
Intel(PBR51) hires Raja Koduri as SVP & Chief Architect of new Core and Visual Computing Group, to start in early 12/17. $INTC PR link.
Tyson(PBR80) hires Stewart F. Glendinning as CFO, effective 02/10/17, joins company 12/11/17, to succeed Dennis Leatherby. $TSN PR link.
Tapestry(PBR496)’s Kate Spade unit hires Nicola Glass as Creative Director, succeeds Deborah Lloyd who is leaving in 2018. $TPR PR link.
Molson Coors(PBR558) International unit President/CEO Stewart Glendinning departing effective 12/08/17. $TAP PR link.
Comerica(PBR740) EVP/CFO David Duprey to retire in early 2018, EVP/Chief Accounting Officer Muneera Carr to be promoted to EVP/CFO on 01/23/18. $CMA PR link.
Kohl’s(PBR149) elects H Charles Floyd, global president of operations at Hyatt Hotels(PBR537), to the Board. $KSS PR link.
Electronic Arts(PBR527) appoints Heidi Ueberroth, currently President of Globicon and former NBA executive, to the Board. $EA PR link.
Endo Intl(PBR700) appoints Sharad S. Mansukani, MD, to the Board; Douglas S. Ingram resigns from the Board per his appointment as President/CEO of Sarepta Therapeutics. $ENDP PR link.
Alexion Pharmaceutical(PBR840) appoints Francois Nader, MD, former senior executive for NPS Pharma, to the Board. $ALXN PR link.
***Tuesday, November 7:
The PBR1000 Top 5 October Stock Price Gainers since 12/31/15(Company, Rank by Revenues, Stock Symbol, Stock Price 10/31/17, % Change from 12/31/15) are:
1. Chemours(PBR447), CC, $56.61, +956%
2. Tronox(PBR820), TROX, $26.47, +577%
3. NVIDIA(PBR362), NVDA, $206.81, +527%
4. Scientific Games(PBR693), SGMS, $47.60, +431%
5. Navistar(PBR316), NAV, $42.31, +379%
Range: +956% to -90%
Number of Companies >0,0%: 737/998
Average: +28.3%; Median: +31.19%
Alphabet(PBR44)’s Waymo unit to test fully self driving cars in the Phoenix metro area. $GOOG PR link.
Intel(PBR51) gets multi-year partnership to be exclusive provider of virtual reality and 360-degree volumetric video for official NBA broadcast partners worldwide. $INTC PR link.
NGL Energy(PBR207) to sell portion of its Retail Propane Business across 10 states to a DCC plc division for $200 million cash, to close 03/31/18. $NGL PR link.
ADP(PBR235) shareholders re-elect all 10 ADP board members at 2017 Annual Meeting, Pershing Square‘s 3 nominees are shut out after receiving under 20% of vote of outstanding shares. $ADP PR link.
Discover Financial(PBR286) in conjunction with FOX Sports is named official credit card of the 14 school The Big Ten Conference, is first presenting sponsor of The Big Ten Football Championship game. $DFS PR link.
Twitter(PBR735) expands tweet maximum length from 140 characters to 280 for most languages. $TWTR PR link.
Lands’ End(PBR976) becomes official outfitter for The Weather Channel in 2 year partnership. $LE PR link.
Meritor(PBR639) appoints Rodger L. Boehm, retired senior partner of McKinsey & Company, to the Board, effective 12/01/17. $MTOR PR link.
SeaWorld(PBR948) appoints Scott Ross, Founder/Managing Partner of Hill Path Capital LP and former Partner at Apollo Global Mgmt(PBR906), to the Board. $SEAS PR link.
The US Dept of Labor says US Preliminary September Total Job Openings were at 6,093,000, +0.1% from August, +7.5% from September 2016. USDOL PR link.
The US Federal Reserve Board says US Preliminary September Total Consumer Credit Debt was at $3.788 trillion, +0.6% from August, +3.9% YTD, +5.6% from September 2016. USFED PR link.
FannieMae(PBR17) says the US October Home Purchase Sentiment Index is at 85.2, September was at a record 88.3, August 88.0, October 2016 81.7. FNMA PR link.
The Purdue/CME Group US October Ag Economy Barometer is at 135, September was 132, August 132, October 2016 92. Purdue/CME Group PR link.
***Monday, November 6:
The PBR1000 October 2017 Snapshots edition has been released and sent to Subscribers. To become a Subscriber just click here.
McKesson(PBR6) to acquire RxCrossroads, a provider of tailored services to pharmaceutical and biotechnology manufacturers, from CVS Health(PBR11) for $735 million. $MCK PR link.
CVS Health(PBR11) to deliver prescriptions to customers’ doors with nationwide next-day delivery and same-day delivery in select markets starting in early 2018. $CVS PR link.
Humana(PBR58) to exit commercial long-term care insurance business in sale of its 30,100 members KMG wholly owned subsidiary to Continental General Insurance Company, to record a net loss of $400 million, expects to close 3Q18. $HUM PR link.
Sprint(PBR86) and Altice USA (NYSE: ATUS)announce new multi-year strategic agreement, Altice USA to utilize Sprint’s network to provide mobile voice and data services to its US customers, Sprint will leverage Altice USA broadband platform to accelerate network densification. $S PR link.
T-Mobile US(PBR95) and Sprint(PBR86) jointly announced that they have ceased talks to merge as the companies were unable to find mutually agreeable terms. $TMUS PR link.
Broadcom(NASDAQ: AVGO) proposes to acquire Qualcomm(PBR106 $QCOM) for $70.00/share cash/stock in transaction valued at $130 billion. $AVGO PR link.
CBS(PBR210) 3Q17 report says purchasing a group annuity contract, insurance company to pay/administer pension payments to certain pension plan participants, will decrease pension obligations by $800 million, represents 20% of total pension plans obligations. $CBS PR link.
Symantec(PBR385) acquires SurfEasy from Opera Software, provides Virtual Private Network (VPN) services for online privacy and security on smartphones, tablets and computers, terms not disclosed. $SYMC PR link.
AMD(PBR445) provides Intel(PBR51) with a semi-custom Radeon™ graphics chip to integrate with Intel’s Core processor, and second generation High Bandwidth Memory into a smaller faster single package, for use in gaming and graphics applications. $AMD PR link.
Netflix(PBR447 $NFLX) cuts ties with ‘House of Cards’ star Kevin Spacey, cancels Spacey’s ‘Gore’ movie, after sexual assault allegations.MarketWatch PR link.
Salesforce(PBR453) to integrate Alphabet(PBR44)’s Google Analytics into its products in strategic partnership. $CRM PR link.
QuintilesIMS(PBR455) renames itself IQVIA, retains NYSE stock symbol Q. $Q PR link.
Arthur J Gallagher(PBR515) acquires Pittsburgh, PA, based international ecommerce national program broker Allied Business Network and Smart Business Savings, terms not disclosed. $AJG PR link.
AmTrust Financial(PBR564) to retain 49% stake in sale of a portion of its US fee business to Madison Dearborn Partners for $1.15 billion. $AFSI PR link.
Keysight Technologies(PBR660) reopens Santa Rosa, CA, corporate headquarters after being temporarily closed due to the N California wildfires, reaffirms 4Q17 guidance. $KEYS PR link.
Weight Watchers(PBR988) end of 3Q17 subscribers up by 18.4% year-over-year to 3.4 million. $WTW PR link.
Cardinal Health(PBR26) CFO Mike Kaufmann to become CEO on 01/01/18, succeeds George Barratt who will be Executive Chairman through 11/18, SVP/CFO Medical unit Jorge Gomez to become CFO. $CAH PR link.
Anthem(PBR38) elects Gail K. Boudreaux as President/CEO, effective 11/20/17, succeeds Joseph R. Swedish who will become Executive Chairman until 05/18, then senior advisor through 05/20. $ANTM PR link.
HollyFrontier(PBR140) appoints Anne-Marie N. Ainsworth, a senior oil industry executive, and Anna C. Catalano, a former BP executive, to the Board. $HFC PR link.
Tractor Supply(PBR436) appoints Thomas A. Kingsbury, Chairman/President/CEO of Burlington Stores(PBR433), to the Board. $TSCO PR link.
H&R Block(PBR669) elects Matthew Winter, President of Allstate(PBR84), to the Board. $HRB PR link.
The Federal Reserve Bank of New YorkPresident/CEO William C. Dudley to retire mid 2018, successor search starts. NYFED PR link.
***Friday, November 3:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 11/03/17:
DJIA ends at record 23,539.19, +0.45% from last Friday, +0.69% MTD, +5.06% QTD, +19.11% YTD, +0.00% from record 23,539.19 set 11/03/17.
NASDAQ ends at record 6,764.44, +0.94% from last Friday, +0.55% MTD, +4.13% QTD, +25.66% YTD, +0.00% from record 6,764.44 set 11/03/17.
SPX ends at record 2,587.84, +0.26% from last Friday, +0.49% MTD, +2.72 QTD, +15.59% YTD, +0.00% from record 2,587.84 set 11/03/17.
Kroger(PBR20) to roll out new Our Brandmodern lifestyle apparel in 300 stores in the fall of 2018. $KR PR link.
Navient(PBR443) completes $155 million cash acquisition of financial technology and education finance company Earnest, includes more than $500 million in education refinancing loans. $NAVI PR link.
Rent A Center(PBR657) receives conditional, non-binding proposal from Vintage Capital Management to acquire all of the outstanding shares of RAC for $13.00/share cash. $RCII PR link.
Bon-Ton Stores(PBR707) to start trading on OTCQX Best Market exchange starting 11/09/17, to keep using BONT stock symbol. $BONT PR link.
JCPenney(PBR234) reorganizing Merchandising, Chief Merchant John Tighe is leaving, position is being eliminated, department SVPs now reporting to CEO. $JCP PR link.
W.R. Grace(PBR625) CEO Fred Festa to step down in 4Q18, will remain as non-executive Chairman, President/COO Hudson La Force elected to the Board. $GRA PR link.
The US Dept of Labor says US October Employed Civilian Labor Force was at 153.9 million, -484,000 from September, Unemployedat 6.520 million, Unemployment Rate at 4.1%, September was 4.2%, October 2016 4.8%. USDOL PR link.
The US Dept of Commerce says US September Total Exports were $196.8 billion, YTD(9 months) $1.741 trillion, Imports $240.3 billion, YTD $2.146 trillion, Deficit $43.5 billion, YTD Deficit $405.1 billion, September 2016 YTD Deficit was $370.8 billion. USDOL PR link.
The US Dept of Commerce/Census says US September Manufacturers’ Total New Orderswere $478.5 billion, +1.4% from August, +4.7% from September 2016. USDOL PR link.
The ISM US October Non-Manufacturing Index(>50% Economy Growing) is at 60.1%, September was 59.8%, August 55.3%, October 2016 54.8%. ISM PR link.
The IHS Markit US October Composite PMI Index is at 55.2, September was 54.8, August55.3, October 2016 54.9. IHS Markit PR link.
***Thursday, November 2:
Microsoft(PBR29) to purchase 100% of the wind energy generated from a repowered and expanded 180-megawatt wind farm by its local datacenter operations in Wieringermeer Polder, near Amsterdam, will be constructed and operated by Nuon, part of Vattenfall, to be operational in 2019. $MSFT PR link.
DowDuPont(PBR48) to reduce expenses by $3 billion, includes procurement synergies, global workforce reductions, buildings and facilities consolidations and select asset shutdowns. $DWDP PR link.
DowDuPont(PBR48) authorizes $4 billion share repurchase program, no expiration date set. $DWDP PR link.
AutoNation(PBR148) gets multi-year service agreement with Alphabet(PBR44)’s Waymo to provide strategic capabilities to maximize self-driving vehicles’ lifetime across the US. $AN PR link.
Starbucks(PBR178) selling Tazo brand assets to Unilever for $384 million, will focus on single tea brand Teavana. $SBUX PR link.
VF Corp(PBR232) to acquire private Auckland, New Zealand, based $150 million revenues/year 340+ employees natural materials high-performance outdoor clothing company Icebreaker Holdings, terms not disclosed. $VFC PR link.
TreeHouse Foods(PBR690) authorizes open ended $400 share repurchase program. $THS PR link.
HCP(PBR834) announces transactions to further reduce Brookdale Senior Living(PBR587)portfolio concentration. $HCP PR link.
Blackhawk Network(PBR998) gets new long-term agreement with Kroger(PBR20 $KR) to provide in-store and digital gift card services. $HAWK PR link.
Biogen(PBR282) hires Chirfi Guindo as EVP & Head of Global Marketing, Market Access, and Customer Innovation. $BIIB PR link.
Gannett(PBR414) President/Domestic Publishing & Publisher/USA TODAY John Zidich to retire on 04/03/18 after over 40 years with the company. $GCI PR link.
TreeHouse Foods(PBR690) President Robert Aiken resigns, Chairman/CEO Sam Reed to also assume President role, search for new CEO starts. $THS PR link.
Invacare(PBR984) SVP/CFO Robert K. Gudbranson leaving to pursue another opportunity, interim CFO appointed, search starts. $IVC PR link.
MSCI(PBR986) promotes COO Baer Pettit to President, Chief Client Officer Laurent Seyer adds COO role. $MSCI PR link.
MSCI(PBR986) appoints Marcus Smith, recently retired executive of MFS Investment Management(Canada), to the Board. $MSCI PR link.
The US Dept of Labor says US Preliminary 3Q17 Labor Productivity Output/Hr-All Persons Annual Rate was +3.6%, 2Q17 was +1.4%, 3Q16 +2.7%. USDOL PR link.
Holiday Shopping Forecast: Adobe Systems(PBR557) predicts holiday online sales will be $107.4 billion, +13.8% over 2016,in-store retail +10.0%. $ADBE PR link.
***Wednesday, November 1:
MetLife(PBR39) authorizes new $2 billion share repurchase program, also intends to divest its remaining Brighthouse Financial, Inc. (NASDAQ: BHF) common stock through an exchange offer for MetLife common stock during 2018. $MET PR link.
American Express(PBR83) is exclusive US issuers for Hilton(PBR262) Honors co-branded credit cards, introduces 4 new card types. $AXP PR link.
CenturyLink(PBR160) completes $66.50/share, $34 billion acquistion of Level 3 Communications(PBR375). $CTL PR link.
Owens & Minor(PBR292) to acquire the $1 billion revenues/year surgical and infection prevention (“S&IP”) business of Halyard Healthfor approximately $710 million in cash. $OMI PR link.
Dover(PBR343) completes sale of subsidiary Warn Co, 350+ employees designer, manufacturer and marketer of high performance vehicle equipment and accessories, to LKQ(PBR376), terms not disclosed. $DOV PR link.
Fifth Third Bancorp(PBR387) completes acquisitions of Epic Insurance Solutions and Integrity HR, follows acquisitions of RG McGraw Insurance Agency and The Retirement Corporation of America. Terms not disclosed. $FITB PR link.
FMC Corp(PBR566) completes $1.2 billion cash acquisition of certain assets of DuPont Crop Protection business, also completes sale of FMC Health and Nutrition to DuPont. $FMC PR link.
Pitney Bowes(PBR588) reports 3Q17 financial results, says time to explore a broad range of strategic alternatives. $PBI PR link.
Crown Castle(PBR603) completes $7.1 billion cash acquisition of 32,000 miles of fiber in NE US major metro areas LTS Group Holdings, aka Lightower. $CCI PR link.
Carlisle Cos(PBR650) completes $670 million cash acquisition of Maryland Heights, MO, based $430 million revenues/year polyurethane products and solutions provider Accella Performance Materials from Arsenal Capital Partners. $CSL PR link.
Tesla(PBR651) in 3Q17 reports record sales of Model S & X cars, sold 250,000th vehicle in 3Q17, still ramping up Model 3 manufacturing lines, batteries are the current bottleneck. $TSLA PR link.
Intl Flavors & Fragrances(PBR666) extends current share repurchase program to $300 million through 2022. $IFF PR link.
Greenbrier(PBR846) Management Servicesunit now manages 355,000 railcars in the US, over 20% of the total N American railcar fleet. $GBX PR link.
Fitbit(PBR870) releases 3Q17 report, says sold 3.6 million devices in 3Q17 compared to 5.3 million in 3Q16, 10.0 million devices through 9 months compared to 15.8 million in 2016. $FIT PR link.
Sinclair Broadcast Grp(PBR894) releases 3Q17 report, says it expects to close on $43.50/share, $3.9 billion cash/stock, plus assumption of $2.7 billion of debt acquisition of Tribune Media(NYSE: TRCO) in early 2018, pending regulatory approvals. $SBGI PR link.
Cooper Cos(PBR950) completes $1.1 billion cash acquisition of $168 million in sales/2017 PARAGARD® Intrauterine Device (IUD)business from Teva Pharmaceutical(NYSE: TEVA). $COO PR link.
New York Times(PBR971) says it has paid digital-only subscriptions totaling approximately 2,487,000, 154,000 added during 3Q17. $NYT PR link.
Viacom(PBR212) hires Kelly Day as President of new unit Viacom Digital Studios. $VIA PR link.
Intuit(PBR529) hires Diego Rodriguez as EVP/Chief Product and Design Officer, effective 11/06/17. $INTU PR link.
Groupon(PBR652) hires Steve Krenzer as COO. $GRPN PR link.
Manpower(PBR132) elects Michael Van Handel, retired CFO of Manpower, to the Board, effective 12/11/17. $MAN PR link.
FIS(PBR394) appoints Louise Parent, former EVP/General Counsel of American Express(PBR83), to the Board. $FIS PR link.
AMD(PBR445) appoints Mark Durcan, former CEO of Micron Technology(PBR610) to the Board. $AMD PR link.
Groupon(PBR652) appoints Deborah Wahl, most recently SVP/Chief Marketing Officer of McDonald’s(PBR101) USA to the Board; Brad Keywell and Jeff Housenbold will depart the Board. $GRPN PR link.
Xilinx(PBR809) appoints Mary Louise (ML) Krakauer, recently retired EVP/CIO of Dell Computer, and COO Victor Peng to the Board. $XLNX PR link.
MSA Safety(PBR996) elects Sandra Phillips Rogers, Group VP/General Counsel, Chief Legal Officer and Corporate Secretary for Toyota Motor North America, to the Board. $MSA PR link.
Federal Open Market Committee releases statement from meetings held 10/31-11/01/17, Federal Funds Short Term Interest Ratesremain at 1.00-1.25%, says labor market has continued to strengthen, economic activityrising at a solid rate despite hurricane-related disruptions. FOMC PR link.
The US Dept of Commerce/Census says US Preliminary September Total Construction Spending Annual Rate is at $1.220 trillion, +0.3% from August, +2.0% from September 2016. USDOC PR link.
ADP(PBR235) says US October Non-Farm Private Sector Employment was +235,000, Small Businesses were +79,000, Midsized+66,000, Large +90,000; Goods Producingwere +85,000, Services +150,000. $ADP PR link.
ISM says US October ISM Manufacturing PMI Index is at 58.7%, September was 60.2%, August 58.8%, October 2016 51.9%. ISM PR link.
IHS Markit says US October Manufacturing PMI Index is at 54.6, September was 53.1, August 52.8, October 2016 53.4. IHS Markit PR link.
Automotive News says US October New Light Vehicles Sold were at 1,329,802 units, -12.8 from September, -1.0% from October 2016, Annual Rate at 17,600,000 units, Average Transaction Price $35,263(Kelley Blue Book), Average Incentive Outlay $3,820. AutoNews PR link.
Sports: The Major League Baseball World Series ends with Game 7 in Los Angeles and the Houston Astros scoring early and winning 5-1 against the Los Angeles Dodgers. MLB PR link.
***Tuesday, October 31:
The PBRMarketTools US Stock Exchanges Recap for October Ending 10/31/17:
DJIA ends at 23,377.24, -0.24% from last Friday, +4.34% MTD/QTD, +18.29% YTD, -0.28% from record 23,441.76 set 10/24/17.
NASDAQ ends at record 6,727.67, +0.39% from last Friday, +3.57% MTD/QTD, +24.98% YTD, +0.00% from record 6,727.67 set 10/31/17.
SPX ends at 2,575.26, -0.23% from last Friday, +2.22% MTD/QTD, +15.03% YTD, -0.23% from record 2,581.07 set 10/27/17.
Have questions on The PBR1000 or The PBR US Economic Indices Monthly Snapshots? Please contact us at Sales@PBRMarketTools.com or call us in the US at 520-444-2519.
Don’t forget to follow us on Twitter at @ThePBR1000.
(The PBR1000 provides astute investors and business professionals with the data, news, and analysis for taking higher probability of success actions. The PBR1000 covers over 1,000 of the largest publicly held companies with principle or administrative headquarters in the US. These companies generate $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to Subscribers of The PBR1000. Subscribers include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your monthly or significantly discounted annual subscription, just click here to go to the PBRMarketTools.com Order page.)
(Image courtesy of FreeDigitalPhotos.net, Stuart Miles.)
Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.
Have questions on The PBR1000 or The PBR US Economic Indices Monthly Snapshots? Please contact us at Sales@PBRMarketTools.com or call us in the US at 520-444-2519.
Don’t forget to follow us on Twitter at @ThePBR1000.
(The PBR1000 provides astute investors and business professionals with the data, news, and analysis for taking higher probability of success actions. The PBR1000 covers over 1,000 of the largest publicly held companies with principle or administrative headquarters in the US. These companies generate $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to Subscribers of The PBR1000. Subscribers include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your monthly or significantly discounted annual subscription, just click here to go to the PBRMarketTools.com Order page.)
(Image courtesy of FreeDigitalPhotos.net, sheelamohan.)
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