What Effect Will Global Currencies Have
On US Businesses In The Near Future?
By Larry C. Paxton
August 2015 will be memorable for some records set in the volatile stock markets. We will be commenting more on that in the upcoming The PBR1000 August 2015 Stocks/Commodities Snapshots which will be published sometime in the next week.
But there were also important transitions among The PBR1000 companies, including new major mergers, spinoffs, share repurchase programs, and key C-level personnel changes.
The modestly growing US economy seemed finally poised for the Federal Reserve to make its first interest rate increase in September. Then China devalued its currency and now it is a big question mark around the globe for all countries.
International issues continue to catch us by surprise. The latest development is the continued growing of the Mideast Crisis which is now creating major immigration/refugee problems, especially for Europe, as large populations in areas of conflict are subjected to making quick life or death decisions and are forced to take big chances for their families as they attempt to escape. With China’s slowing economy, out of control conflicts in the Mideast, and some growing uncertainties about Europe, what effect will these international situations have on US business both short and long term?
August 2015 was more tumultuous in more ways than expected. Has that set a similar stage for September? Let’s see how it unfolds, but let’s wish and work for the best as autumn and cooler temperatures approach, and most importantly, the US football season gets into full swing!
Following are The PBR1000 and economic related news items of note for August 2015, starting with the last active day.
Monday, August 31:
The PBR1000 Monthly US Stock Exchanges Snapshot:
DJIA closes August at 16,528.03, -0.69% from last Friday, -6.57% MTD, -6.19% QTD, -7.27% YTD.
NASDAQ closes August at 4,776.51, -1.07% from last Friday, -6.86% MTD, -4.22% QTD, +0.85% YTD.
SPX closes August at 1,972.18, -0.84% from last Friday, -6.26% MTD, -4.41% QTD, -4.21% YTD.
Apple(PBR5, $AAPL) & Cisco(PBR60) partner to deliver fast-lane for iOS enterprise users. $CSCO PR link.
General Electric(PBR9) completes $5 billion sale of its US fleet services business to Element Financial(TSX: EFN). $GE PR link.
Walt Disney(PBR57) is betting big on ‘Star Wars’ merchandise with unboxing extravaganza starting 09/03/15. $DIS PR link.
Excelon(PBR102) & Pepco(PBR493, $POM) to continue to pursue merger despite DC Commission blocking action. $EXC PR link.
Danaher(PBR137) completes $127.20/share, $13.8 billion acquisition of filtration, separation, & purification products & services provider Pall Corp(PBR713, $PLL). $DHR PR link.
Southern Co(PBR155) subsidiary acquires 200-MW California Tranquility Solar Facility from Canadian Solar. $SO PR link.
Bristol-Myers Squibb(PBR185) to acquire fibrotic diseases therapies developer Promedior for $150 million with additional payments up to $1.25 billion.
$BMY PR link.
DISH Network(PBR196, $DISH) brings Internet TV service to Amazon(PBR29, $AMZN) Appstore. MarketWatch article link.
Allergan(PBR219) completes $560 million acquisition of depression therapies developer Naurex. $AGN PR link.
Oshkosh(PBR368) increases shares repurchase program to 10 million shares. $OSK PR link.
Arthur J Gallagher(PBR515) acquires affinity group & association products & services provider National Administration Company, terms not disclosed. $AJG PR link.
HealthSouth(PBR800) to acquire 45 home health locations $104 million/yr operations of CareSouth Health Systems for $170 million. $HLS PR link.
Anthem(PBR38) promotes Brian Griffin as EVP & President, Commercial & Specialty Business, reports to CEO. $ANTM PR link.
National Oilwell Varco(PBR127) hires Jose Bayardo as SVP/CFO. $NOV PR link.
WellCare Health Plans(PBR221) hires Michael Radu to new position of SVP, Clinical Operations/Business Development, reports to CEO. $WCG PR link.
TeamHealth(PBR498) hires Steve Clifton as EVP, General Counsel & Corporate Secretary, and Eric Norman as Chief Human Resources Officer. $TMH PR link.
Comerica(PBR740) promotes John Buchanan to EVP, Legal Affairs; expected to assume role of EVP, Governance, Regulatory Relations & Legal Affairs on 01/01/16. $CMA PR link.
FreddieMac(PBR41) releases August Insight & Outlook commentary on the housing industry. $FMCC PR link.
Friday, August 28:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 16,643.01, +1.11% from last Friday, -5.92% MTD, -5.54% QTD, -6.62% YTD.
NASDAQ closes week at 4,828.32, +2.60% from last Friday, -5.85% MTD, -3.18% QTD, +1.95% YTD.
SPX closes week at 1,988.87, +0.9% from last Friday, -5.46% MTD, -3.60% QTD, -3.40% YTD.
Staples(PBR122) & Office Depot(PBR182, $ODP) to delay merger until at least 45 days after certified substantial compliance with US Federal Trade Commission second request. $SPLS PR link.
Carnival Corp(PBR184) expects to carry record 400,000+ passengers from Port of New Orleans in 2015. $CCL PR link.
ADP(PBR235) plans $2 billion debt offering followed by additional 25 million shares buyback program. $ADP PR link.
Mylan(PBR346) shareholders overwhelming approve proposed acquisition of Perrigo(PBR565, $PRGO), formal offer expected in a few weeks. $MYL PR link.
Big Lots(PBR468) announces promotions to EVP for Chief Merchandising/Operating Officer, Chief Admin Officer/CFO, & Human Resources/Store Operations. $BIG PR link.
Patterson Cos(PBR542) completes sale of its medical business to Madison Dearborn Ptnrs for $715 million cash. $PDCO PR link.
Werner(PBR862) CEO Greg Werner to retire, remain on board, Founder/Chairman CL Werner to add CEO responsibilities. $WERN PR link.
The US Dept of Commerce says July Personal Income Annual Rate was at $15.350 trillion, +0.4% over June. USDOC PR link.
Thursday, August 27:
Amazon(PBR29, $AMZN) scales back on developing consumer devices. MarketWatch article link.
Cisco(PBR60) completes $635 million acquisition of privately held advanced threat protection provider OpenDNS. $CSCO PR link.
Sprint(PBR86) offering 1 year of free service to AT&T(PBR12, $T)/DirecTV subscribers. $S PR link.
Freeport-McMoRan(PBR128) announces further spending cuts in response to market conditions, to reduce US workforce by 10%. $FCX PR link.
CBS(PBR210, $CBS) & TEGNA(NR) renew affiliation agreement, covers 10 markets with over 10 million households. $TGNA PR link.
Over 1 billion people logged into Facebook(PBR228, $FB) on Monday, 08/24/15, sets new milestone. MarketWatch article link.
AECOM(PBR322) hires Mary Finch as EVP-Chief Human Resources Officer. $ACM PR link.
Celgene(PBR347) completes $232/share, $7.2 billion acquisition of immune/metabolics therapeutics developer Receptos(NASDAQ: RCPT). $CELG PR link.
Carlyle Group(PBR578) to acquire big data analytics provider Novetta from Arlington Capital Partners, terms not disclosed. $CG PR link.
Tesla(PBR651, $TSLA) Model S scores 103 from Consumer Reports on 100-point scale. MarketWatch article link.
Autodesk(PBR773) to acquire San Francisco based enterprise IoT cloud based provider SeeControl, terms not disclosed. $ADSK PR link.
CEO pay surged last year after stock-market gains, pension changes MarketWatch article link.
The US Dept of Commerce says in 2nd estimate that the 2nd Quarter Gross Domestic Product(GDP) Annual Rate was +3.7%, 1st Quarter was +0.6%. USDOC PR link.
Wednesday, August 26:
YouTube Gaming has launched as Google(PBR44)‘s answer to Amazon(PBR29)’s Twitch. $GOOGL article link.
3M(PBR92) completes $1.0 billion acquisition of Polypore’s $210 million in revenues Separations Media business. $MMM article link.
Monsanto(PBR187) no longer pursuing $46 billion Syngenta deal, focusing on standalone growth plan. $MON article link.
DISH Network(PBR196, $SBGI) & Sinclair Broadcast Grp(PBR894) finalizing long term agreement, stations in 79 markets to be restored. $DISH article link.
BlackRock(PBR252) to acquire digital wealth management provider FutureAdvisor, terms not disclosed. $BLK article link.
Cameron Intl(PBR269) to be acquired by Schlumberger(NYSE: SLB) for $66.86/share, $14.8 billion cash/stock. $CAM article link.
Chico’s FAS(PBR730) plans to sell its Boston Proper direct-to-consumer business and close the 19 existing stores. $CHS article link.
General Growth(PBR765) has $600 million shares repurchase program with addition of $500 million. $GGP article link.
Edwards Lifesciences(PBR819) completes up to $400 million acquisition of CardiAQ Valve Technologies. $EW article link.
VMWare(PBR411) promotes Ray O’Farrell as Chief Technology Officer & Chief Development Officer, reports to CEO Pat Gelsinger. $VMW article link.
Tuesday, August 25:
Amazon(PBR29) Prime Now subscribers in the Seattle area get a 1 hour delivery services for tens of thousands of items. $AMZN article link.
Oshkosh(PBR368) awarded a $6.7 billion joint tactical vehicle contract by the US Army for 17,000 vehicles & services. $OSK article link.
Lithia Motors(PBR451) buys $50 million/yr revenues Acura of Honolulu, HI. $LAD article link.
Pepco(PBR493, $POM) shares tumble 17% as D.C. commission blocks Exelon(PBR102, $EXC) $6.83 billion deal. MarketWatch article link.
Medtronic(PBR133) to acquire privately-held transcatheter mitral valve replacement device developer Twelve, Inc., for up to $458 million. $MDT article link.
Cablevision(PBR390) is first distributor of CBS(PBR210)‘ new Internet content services, including CBS All-Access & SHOWTIME. $CBS PR link.
Xylem(PBR575) authorizes $500 million shares repurchase program. $XYL PR link.
Albemarle(PBR792) to relocate corporate headquarters from Baton Rouge, LA, to Charlotte, NC, in June, 2016. $ALB PR link.
The US Dept of Commerce says July Sales of New Single-Family Houses are at an annual rate of 507,000, +5.4% from June, +25.8% from July 2014. USDOC PR link.
Monday, August 24:
US stocks end harrowing session with biggest drop in 4 years. MarketWatch article link.
Home Depot(PBR32) completes $1.625 billion cash acquisition of national distributor/direct marketer of maintenance, repair & operational products Interline Brands. $HD PR link.
Southern Co(PBR155) to acquire AGL Resources(PBR452) for $66/share, $12 billion, becomes 2nd largest US utility with 9 million customers, expected to close 2nd half of 2016. $GAS PR link.
DaVita Healthcare(PBR302) to acquire Renal Ventures & its 36 dialysis centers in 6 states for $415 million. $DVA PR link.
Chipotle Mexican Grill(PBR561) to hire 4,000 people in a single day at first ever National Career Day on 09/09/15. $CMG PR link.
LINN Energy(PBR484) promotes David Rottino as EVP/CFO, succeeds leaving Kolja Rockov. $LINE PR link.
NII Holdings(PBR604) hires Francisco Tosta Valim Filho as President, Nextel Brazil, reporting to NIIH CEO Steve Shindler. $NIHD PR link.
Atmel(PBR1004) CEO Steven Laub extends retirement date to complete ongoing strategic evaluation process. $ATML PR link.
Friday, August 21:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 16,459.75, -5.82% from last Friday, -6.95% MTD, -6.58% QTD, -7.65% YTD.
NASDAQ closes week at 4,706.04, -6.78% from last Friday, -8.23% MTD, -5.63% QTD, -0.63% YTD.
SPX closes week at 1,970.89, -5.77% from last Friday, –6.32% MTD, -4.47% QTD, -4.27% YTD.
Skechers USA(PBR808) board approves 3:1 stock split, stockholders to vote on 09/24/15. $SKX PR link.
Fifth Third Bancorp(PBR387) hires Heather Russell Koenig as Chief Legal Officer & Corporate Secretary. $FITB PR link.
Thursday, August 20:
Fun Fact: The PBR1000 companies had $13.670 trillion in revenues for fiscal years ending June 2014 through May 2015, $1.023 trillion in profits, a 7.48% rate.
Amazon(PBR29) to employ 1,000 fulltime permanent employees at its new San Marcos facility, the 5th in Texas. $AMZN PR link.
Oracle(PBR78) buys cloud based data science marketing services provider Maxymiser, terms not disclosed. $ORCL PR link.
Discover Financial(PBR286) awarded the highest honor in J.D. Power 2015 Credit Card Satisfaction Study. $DFS PR link.
Discover Financial(PBR286) announces strategic network service agreement with Brazilian domestic card network, Elo. $DFS PR link.
Intuit(529) to divest Demandforce, QuickBase, & Quicken to focus on QuickBooks/TurboTax services. $INTU PR link.
Penn National Gaming(PBR750) gets regulatory approval for $360 million buy of Tropicana Las Vegas Casino Hotel Resort, to close 08/25/15. $PENN PR link.
Scientific Games(PBR937) wins new five-year Instant Games contract with Montana Lottery. $SGMS PR link.
Franklin Resources(PBR315) promotes Vijay Advani & Jennifer Johnson to Co-Presidents, effective 10/01/15. $BEN PR link.
American Eagle Outfitters(PBR640) Chief Marketing Officer Michael Leedy leaving, effective 08/15/15, successor search started. $AEO PR link.
Cinemark(PBR739) CEO Tim Warner to become Executive Vice-Chairman, hires Mark Zoradi as CEO, effective 08/24/15. $CNK PR link.
The National Association of Realtors says that July Existing Home Sales were at a 5.59 million annual rate, median price was $234,000. NAR PR link.
Wednesday, August 19:
Coca-Cola Co(PBR63, $KO) buys 30% minority stake in organic juice maker Suja Life for $90 million, with option to buy in 3 years. MarketWatch article link.
Leidos(PBR475) awarded $4.3 billion US Dept of Defense prime contract for modernization of military healthcare systems. $LDOS PR link.
Former eBay(PBR163) unit PayPal($PYPL) acquires mobile payment start-up Modest, betting on ‘contextual commerce.’ MarketWatch article link.
PG&E(PBR172) promotes Melissa Lavinson to expanded role of Chief Sustainability Officer. $PCG PR link.
Terex(PBR357) promotes Ken Lousberg to President, Terex Cranes, succeeds Tim Ford, who is leaving. Other promotions announced. $TEX PR link.
The US Federal Reserve Board releases the June Federal Open Market Committee document minutes from the 06/28-29/15 meeting, modest improvements economically. FRB PR link.
The US Dept of Labor says July Current Average Earnings/Hour was $24.99, 34.6 hour average workweek, $864.65/week, +2.1% over last 12 months. USDOL PR link.
The US Dept of Labor says the July Consumer Price Index was +0.1% over June, +0.2% over the last 12 months. USDOL PR link.
Tuesday, August 18:
The PBR1000 Total Market Capitalization for July was $21.445 trillion, +1.91% from June, +2.35% YTD, 1,059 companies.
CVS Health(PBR11) completes acquisition of long term care facilities pharmacy provider Omnicare(PBR393) for $98/share, $12.7 billion cash. $CVS PR link.
Kroger(PBR20) appoints presidents for new Dallas/FW & Houston divisions. $KR PR link.
AutoNation(PBR148) to acquire 16 stores in SE US & Baltimore, MD, representing over $600 million in annual revenue. $AN PR link.
Ventas(PBR671) completes spin-off of pure-play skilled nursing REIT Care Capital Properties(NYSE: CCP). $VTR PR link.
Scientific Games(PBR937) to debut Season Two of “MONOPOLY MILLIONAIRES’ CLUB™” TV Game Show on 09/12/15. $SGMS PR link.
YUM!(PBR217) promotes Micky Pant to CEO, China unit, succeeds retiring Sam Su, other promotions announced. $YUM PR link.
Abercrombie & Fitch(PBR595) announces 6 appointments to its new brand leadership team. $ANF PR link.
Lumber Liquidators(PBR1061) hires Jill Witter as Chief Compliance Officer & Legal Officer. $LL PR link.
The US Dept of Commerce says that July Privately-Owned Housing Units Building Permits were at a 1,119,000 annual rate, -16.3% from June, +7.5% from July 2014. USDOC PR link.
Monday, August 17:
Star Wars-themed lands coming to Walt Disney(PBR57) World & Disneyland Resorts. $DIS PR link.
Starbucks(PBR178) promotes Starbucks Evenings, includes wines & craft beers. $SBUX PR link.
DISH Network(PBR196) & Sinclair Broadcast Grp(PBR894) agree to short term contract extension to renegotiate retransmission deal. $DISH PR link.
Liberty Interactive(PBR263) to acquire eCommerce retailer Zulily(NASDAQ: ZU) for $18.75/share, $2.4 billion. $QVCA PR link.
BB&T(PBR277) to acquire $9.6 billion in assets National Penn Bancshares(NASDAQ: NPBC) for $1.8 billion. $BBT PR link.
Pentair(PBR363) to acquire electrical & fastening products manufacturer ERICO Global for $1.8 billion cash. $PNR PR link.
GrafTech(PBR1057) acquisition for $5.05/share, $695 million by Brookfield Asset Management(NYSE: BAM) is completed, is now a wholly owned subsidiary. $GTI PR link.
Target(PBR40) elevates John Mulligan to newly created COO role; names Cathy Smith as CFO. $TGT PR link.
ConAgra Foods(PBR166) hires Darren Serrao to new position of Chief Growth Officer, reports to CEO Sean Connolly. $CAG PR link.
Darden Restaurants(PBR398) names Bill Lenehan as CEO of future spinoff REIT Four Corners Property Trust. $DRI PR link.
CA Technologies(PBR550) to acquire private privileged identity management solutions provider Xceedium, terms not disclosed. $CA PR link.
SeaWorld(PBR674) hires Peter Crage as CFO; hires Anthony Esparza as Chief Creative Officer. $SEAS PR link.
Bristow Group(PBR919) CFO John Briscoe is leaving, Don Miller promoted to SVP/CFO, effective immediately. $BRS PR link.
Friday, August 14:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,477.40, +0.60% from last Friday, -1.20% MTD, -0.81% QTD, -1.94% YTD.
NASDAQ closes week at 5,048.24, +0.09% from last Friday, -1.56% MTD, +1.23% QTD, +6.59% YTD.
SPX closes week at 2,091.54, +0.67% from last Friday, -0.58% MTD, +1.38% QTD, +1.59% YTD.
Apple(PBR5, $AAPL) working on self-driving car, report says. MarketWatch article link.
Comcast’s(PBR42, $CMCSA) Universal Studios is having a perfect year at the box office MarketWatch article link.
Nelson Peltz’s Trian fund discloses 42.1 million share stake in Sysco(PBR61) MarketWatch article link.
Soros takes Time Warner Cable(PBR119, $TWC) stake, adds to Facebook(PBR228, $FB), sells Alibaba in Q2. MarketWatch article link.
JCPenney(PBR234, $JCP) focuses on omnichannel growth after better-than-expected results MarketWatch article link.
Cabela’s(PBR606) EVP-Chief Merchandising Officer Brian Linneman to become a company strategic advisor, Scott Williams promoted to EVP-Chief Commercial Officer. $CAB PR link.
Dun & Bradstreet(PBR957) Chief Sales Officer Mark Geneste has left, President/CEO Bob Carrigan to serve as interim. $DNB PR link.
Pay-TV lost 600,000 subscribers from April to June. USAToday article link.
American flag raised at US embassy in Havana. MarketWatch article link.
US Set to approve limited crude-oil trade to Mexico. MarketWatch article link.
The US Dept of Labor says July Producer Price Index for Final Demand was +0.2% from June, -0.8% over last 12 months. USDOL article link.
The US Federal Reserve Bank says July Industrial Capacity Utilization was 78.0%, +0.3% over June, -2.1% from the long-run (1972–2014) average. FRB article link.
Greece to receive billions of new loans after bailout approved. USAToday article link.
Thursday, August 13:
General Electric(PBR9) selling GE Capital Bank’s US online deposit platform & all deposits to Goldman Sachs(PBR76) Bank, includes $16 billion transfer. $GE PR link.
Time Warner(PBR103) HBO unit announce 5 year partnership with Sesame Street. $TWX PR link.
AFLAC(PBR121) adds 40 million shares to existing 16 million shares left in buyback program. $AFL PR link.
Perrigo(PBR562) says revised Mylan(PBR346) offer with lower tender threshold of 50% is not favorable. $PRGO PR link.
Fastenal(PBR597) now has 50,000+ installed industrial vending devices at customer sites. $FAST PR link.
Sysco(PBR61) promotes Paul Moskowitz to EVP-Human Resources, Scott Charleton to EVP-Supply Chain, Russell Libby now EVP-Admin/Secretary. $SYY PR link.
Coca-Cola Co(PBR63) promotes James Quincy to President/COO. EVP/President of International Ahmet Bozer to retire. $KO PR link.
Parker-Hannifin(PBR218) promotes Bob Bond to VP-eBusiness, IoT, & services. $PH PR link.
Ciena Corp(PBR829) SVP Worldwide Sales/Field Operations Philippe Morin leaving effective 10/31/15. $CIEN PR link.
The US Dept of Labor says July US Import Prices declined 0.9%, both fuel/nonfuel prices contributed. Exports fell 0.2%. USDOL PR link.
In Advance report the US Dept of Commerce says July US Retail Sales were at $446.5 billion, +0.6% from June, +2.4% from July 2014. USDOC PR link.
The US Dept of Commerce says June Trade Sales/Mfrs’ Shipments are estimated at $1,325.5 billion, +0.2% from May, -2.5% from June 2014. USDOC PR link.
Wednesday, August 12:
Comcast(PBR42) invests $200 million in Vox Media, valuing digital media company at $1 billion. $CMCSA PR link.
Macy’s(PBR97) forms joint venture with China’s Fung Retailing to test pilot e-commerce on Alibaba in China. $M PR link.
Kraft Heinz(PBR156, $KHC) to slash 2,500 jobs in restructuring. MarketWatch article link.
Viacom(PBR212) forms new ad sales division, Velocity Products Group, for multi-platform social partnerships, products & services to clients. $VIA article link.
Farmer co-op CHS(NASDAQ: CHSCP) to make $2.8 billion minority equity investment in nitrogen subsidiary of CF Industries(PBR502). $CF PR link.
Flowers Foods(PBR591) to acquire US best selling organic bread maker Dave’s Killer Bread for $275 million cash. $FLO PR link.
Fidelity Natl Info Svcs to acquire SunGard for $9.1 billion. $FIS PR link.
The US Dept of Labor says US End of June Job Openings were at 5.249 million, were at 5.357 million at the end of May. Hires were at 5.177 million, Separations at 4.931 million. USDOL PR link.
The US Treasury Dept says the Federal Government 10 Months YTD Receipts ending in July were $2.672 trillion, Outlays $3.138 trillion, Deficit $465.5 billion. USTD PR link.
Tuesday, August 11:
General Electric(PBR9) to sell its Healthcare Financial Services US lending unit to Capital One(PBR116) for $9 billion. $GE PR link.
Ford Motor(PBR10) starts making previously Mexico produced F-650/F-750 trucks in Ohio with 1,000 UAW workers. $F PR link.
Computer Sciences(PBR237) to acquire front-office management trading solutions provider Fixnetix, terms not disclosed. $CSC PR link.
Computer Sciences(PBR237) to acquire cloud-based service management solutions provider Fruition Partners, terms not disclosed. $CSC PR link.
Terex(PBR355) & Finland based public company iifting cranes provider Konecranes to merge, create $10 billion/2014 company incorporated in Finland. $TEX PR link.
Symantec(PBR384) to sell information management unit Veritas to Carlysle Group(PBR578) & Singapore based GIC for $8 billion cash. $SYMC PR link.
Symetra Financial(PBR850) to be acquired by Japan’s Sumitomo Life for $32.50/share, $3.8 billion. $SYA PR link.
HCP(PBR831) hires Justin Hutchens as Chief Investment Officer, Senior Housing & Care. $HCP PR link.
Viavi Solutions(PBR944) Chairman Richard Belluzzo is also Interim President/CEO with departure of Thomas Waechter. $VIAV PR link.
The US Dept of Labor says Preliminary 2nd Quarter Nonfarm Productivity increased at a 1.3% annual rate, output +2.8%, hours worked +1.5%. USDOL PR link.
The US Dept of Commerce says June Wholesale Trade Inventories were at $586.2 billion, May was $580.7 billion, USDOC PR link.
Monday, August 10:
Berkshire Hathaway(PBR4) to acquire Precision Castparts(PBR274) as a wholly owned subsidiary for $235/share, $37.2 billion, expected to close in 1st quarter, 2016. $PCP PR link.
Google(PBR20) CEO Larry Page announces organizational changes, being renamed Alphabet, Google to be a wholly owned subsidiary. $GOOG PR link.
Patterson Cos(PBR542) promotes Les Korsh to VP, General Counsel & Secretary. $PDCO PR link.
Hub Group(PBR611) President/COO Mark Yeager stepping down, Chair/CEO David Yeager to add interim COO duties until new person hired. $HUBG PR link.
Friday, August 7:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 17,373.38, -1.79% from last Friday/MTD, -1.40% QTD, -2.52% YTD.
NASDAQ closes week at 5,043.54, -1.65% from last Friday/MTD, +1.14% QTD, +6.49% YTD.
SPX closes week at 2,077.57, -1.25% from last Friday/MTD, +0.70% QTD, +0.91% YTD.
Lincoln Electric(PBR710) acquires Melbourne, Australia based Specialised Welding Products, terms not disclosed. $LECO PR link.
Dollar General(PBR151): Jim Thorpe rejoins as EVP, Chief Merchandising Officer, succeeds David D’Arezzo, who has left. $DG PR link.
Airgas(PBR461) promotes Nicole Kahny as SVP, Human Resources, succeeds Pamela Claypool who is now Division President, North Division. $ARG PR link.
Baker Hughes(PBR108) says that the July US Total Oil/Natural Gas Rig Count was 866, +5 from June, -1,010 from July 2014. $BHI PR link.
The US Dept of Labor says July Total Nonfarm Employment rose 215,000, the average monthly gain is 246,000 over the past 12 months. The Unemployment Rate remained at 5.3%. USDOL PR link.
The US Federal Reserve Bank says the June US Total Consumer Debt is at $3.422 trillion, +0.61% over May, +3.17% YTD. FRB PR link.
Thursday, August 6:
FannieMae(PBR17) 2nd quarter net income is $4.6 billion, to pay $4.4 billion to US Treasury in Sept. $FNMA PR link.
Alaska Air(PBR454) authorizes additional $1 billion shares buyback program after current $650 million balance is used. $ALK PR link.
CF Industries(PBR502) to merge with Netherlands based fertilizer/industrial chemicals company OCI NV(NYSE Euronext: OCI) for $8 billion, relocate to the UK. $CF PR link.
Coca-Cola Enterprises(PBR327) hires Damian Gammell to become COO in the fall; Hubert Patricot, President of European Group, to retire in 2016. $CCE PR link.
Starwood Hotels(PBR417) promotes Mark Vondrasek to SVP Commercial Services. $HOT PR link.
Sprouts Farmers Market(PBR688) President/CEO Doug Sanders now Executive Chairman, CFO Amin Meredia is CEO. $SFM PR link.
Great Plains Energy(PBR757) SVP/CFO Jim Shay to leave, effective 09/02/15; Kevin Bryant promoted to SVP, Finance/Strategy & CFO. $GPX PR link.
Viavi Solutions(PBR944) hires Amar Maletira as EVP/CFO, effective 09/08/15, replaces Rex Jackson, who is leaving. $VIAV PR link.
Wednesday, August 5:
Allergan(PBR219) acquisition of facial aesthetics developer KYTHERA Pharmaceuticals(NASDAQ: KYTH) now an all cash deal, $75/share, $2.1 billion. $AGN PR link.
Lithia Motors(PBR451) buys $50 million/yr in revenues Bitterroot Ford, Missoula, MT, being renamed Lithia Ford of Missoula. $LAD PR link.
Keurig Green Mountain(PBR507) to reduce workforce by 5% over next 3 years, authorizes additional $1 billion for shares repurchase program. $GMCR PR link.
Liberty Media(PBR534) owns 59.4% of Sirius XM($SIRI), which now has 28.4 million subscribers. $LMCA PR link.
W.R. Grace(PBR645) files paperwork for spinoff of Construction Products & Darex Packaging Technologies units into independent public company called GCP Applied Technologies, planned for 1st quarter 2016. $GRA PR link.
H&R Block(PBR669) gets regulatory approvals to sell bank unit to BofI Federal Bank. $HRB PR link.
Anthem(PBR38) hires Dr. Craig Samitt as Chief Clinical Officer, effective 09/21/15, reports to President/CEO Joseph Swedish. $ANTM PR link.
SandRidge Energy(PBR975) hires Julian Bolt as CFO, succeeds retiring Eddie LeBlanc. $SD PR link.
The The US Dept of Commerce says the June US International Trade had $188.6 billion in exports, $232.4 billion in imports, for a -$43.8 billion deficit, May deficit was -$41.0 billion. USDOC PR link.
Tuesday, August 4:
Pfizer(PBR56) gets European Commission approval for $17 billion acquisition of Hospira(PBR532), on target to close 2nd half of 2015. $PFE PR link.
Sprint(PBR86) reports platform net additions of 675,000 subscribers during 1st quarter of fiscal year. $S PR link.
RR Donnelley(PBR243) intends to form 3 separate independent publicly traded companies. $RRD PR link.
CBRE Group(PBR301) acquires PKF Consulting of Canada, an advisory, consulting & research firm specializing in hospitality & tourist industries. $CBG PR link.
Netflix(PBR447) starts unlimited and flexible maternity & paternity leave policy. $NFLX PR link.
TeamHealth(PBR498) to acquire national acute/post-acute healthcare provider IPC Healthcare(NASDAQ: IPCM) for $1.6 billion. $TMH PR link.
Crown Castle(PBR603) completes $1.0 billion acquisition of Quanta Services(NYSE: PWR) subsidiary fiber networks provider Sunesys. $CCI PR link.
Ventas(PBR671) completes $1.75 billion acquisition of private $2 billion/yr Ardent Health Care, spins off hospital operations. $VTR PR link.
Endo International(PBR700) completes up to $1.65 billion sale of American Medical Systems’ men’s & prostrate health businesses to Boston Scientific(PBR356). $ENDP PR link.
Lincoln Electric(PBR710) acquires private $40 million/yr manufacturer & integrator of industrial automation products Rimrock Holdings, terms not disclosed. $LECO PR link.
United Continental(PBR77) CFO John Rainey leaving to be CFO of PayPal, Gerry Laderman appointed Interim CFO. $UAL PR link.
Church & Dwight(PBR639) to promote Richard Dierker to EVP/CFO, effective 01/01/16, when current CFO Matthew Farrell becomes CEO. $CHD PR link.
The US Dept of Commerce releases the June Full Report on Manufacturers’ Shipments, Inventories & Orders, all up over May. USDOC PR link.
Monday, August 3:
AT&T(PBR16) first to make available a TV/Wireless bundle, $200/mo. $T PR link.
Archer-Daniels-Midland(PBR34) completes $440 million sale of 670 employee global chocolate business to Cargill(NR). $ADM PR link.
AIG(PBR46) with additional $5 billion authorized, has $6.3 billion available for shares repurchase program. $AIG PR link.
3M(PBR92) completes $2.5 billion acquisition of personal protective equipment provider Capital Safety from KKR(PBR332). $MMM PR link.
Community Health System(PBR125) to spinoff 38 hospitals & Quorum Health Resources as separate independent public company. $CYH PR link.
Molina Healthcare(PBR284) Florida subsidiary to acquire Medicaid assets of 90,000 Medicaid members non-profit Integral Health Plan. $MOH PR link.
Constellation Brands(PBR377) completes $315 million acquisition of Napa Valley wine brand Meiomi from Copper Cane. $STZ PR link.
Barnes & Noble(PBR408) completes spinoff of separate independent company Barnes & Noble Education(NYSE: $BNED). $BKS PR link.
Ingredion(PBR415) completes $100 million acquisition of privately held natural fruits and vegetables concentrates producer Kerr Concentrates. $INGR PR link.
TeamHealth(PBR498) acquires New York based 30,000 annual cases/year Brookhaven Anesthesia Associates. $TMH PR link.
Arthur J Gallagher(PBR515) completes acquisition of $50 million/yr Boston based William Gallagher Associates Insurance Brokers. $AJG PR link.
Alpha Natural Resources(PBR548) files bankruptcy petition to reorganize under Chapter 11 in coal/energy markets. $ANR PR link.
CIT Group(PBR608) completes $3.4 billion acquisition of OneWest Bank. $CIT PR link.
Ciena Corp(PBR829) completes $400 million acquisition of network management software developer Cyan(NYSE: CYNI). $CIEN PR link.
Synopsys(PBR879) completes acquisition of verification technologies provider Atrenta, terms not disclosed. $SNPS PR link.
Domino’s Pizza(PBR889) opens 12,000th worldwide store in Oklahoma City, OK. $DPZ PR link.
JDS Uniphase(PBR944) completes spinoff of its Communications & Commercial Optical Product unit as Lumentum, changes name to Viavi Solutions(NASDAQ: VIAV). $VIAV PR link.
Sprint(PBR86) hires Tarek Robbiati as CFO, Gunther Ottendorfer as COO, technology. $S PR link.
Devon Energy(PBR143) promotes COO Dave Hager to President/CEO, succeeds retiring John Richels. $DVN PR link.
JCPenney(PBR234) hires Michael Amend as EVP Omnichannel, Mike Robbins as SVP, Supply Chain. $JCP PR link.
Barnes Group(PBR1030) hires Jim Berklas as SVP, General Counsel & Secretary. $B PR link.
Car makers report strong U.S. sales for July, on track for 17 million units in 2015. MarketWatch article link.
Puerto Rico fails to make $58 million payment, sees first-ever bond default . MarketWatch article link.
President Obama announces the Clean Power Plan, sets new carbon pollution standards for power plants. Whitehouse article link.
US Dept of Treasury raises July-September quarterly borrowing estimate to $127 billion. MarketWatch article link.
The US Dept of Commerce says June Disposable Income at $13.353T annual rate, Personal Savings Rate 4.8%, May was 4.6%. USDOC PR link.
The US Dept of Commerce says June Construction Spending was at a $1,064.6B annual rate, +0.1% from May, +12% from June 2014 USDOC PR link.
Saturday, August 1:
Click here for The PBR1000 July 2015 Breaking News Recap.
Caesars Entertainment(PBR314), Caesars Entertainment Operating Co. announce amended Restructuring Support Agreement with First Lien Holders. $CZR PR link.
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