The PBR1000 December 2018 Breaking News Recap

The PBR1000 December 2018 Breaking News Items

By Larry C. Paxton

The December and Year News Summary: US/China trade relations concerns, a federal funds rate increase, the anticipation of a global economic growth slowdown, a new Congress that will be split into a Republican majority in the Senate and a Democrats majority in the House, and a government shutdown outweighed generally good US economic news, record spending for the holiday season, a low jobs unemployment rate, and higher wages. For the year lower corporate tax rates played a big role, but the repatriation of US dollars from oversees did not materialize at levels planned. The US economy showed robust growth and job openings exceeded available workers. Housing slowed from lower inventories and increasing mortgage rates and lack of new residential construction. Manufacturing, wholesale, and retail had a good year. The federal debt grew significantly as outlays increased more than receipts. Overall, the US economy did very well, but in the end the stock exchanges took a major dip, many saying the correction was long overdue, and some saying the correction was strongly influenced by political volatility throughout the year.

Here are The PBR1000 corporate, stock market, and economic related breaking news items of interest with hotlinks to the sources for December 2018, starting with the last active business day:

***Monday, December 31:

The PBRMarketTools US Stock Exchanges Recap for the Month and Year Ending 12/31/18:

DJIA ends the month and year at 23,327.46, +1.15% from last Friday, -8.66% MTD, -11.83% QTD, -5.63% YTD, -13.05% from record 26,743.50 set 09/21/18.

NASDAQ ends the month and year at 6,635.28, +0.77% from last Friday, -9.48% MTD, -17.54% QTD, -3.88% YTD, -18.18% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,506.85, +0.85% from last Friday, -9.18% MTD, -13.97% QTD, -6.24% YTD, -14.46% from record 2,930.75 set 09/20/18.

The Stock Market Bull was standing tall at the end of November, ahead of The Stock Market Bear in weekly, monthly, and year-to-date victories and looking forward to a nice December bump. But The Stock Market Bearcharged into the month viciously clawing and gnashing away at the exchanges. At the end of the month the results were devastating with all exchanges finishing down for the year and in correction territory compared to record highs achieved just a few months before. The Stock Market Bear easily wins December 3-0 in dominating style and takes the year 2018 as well.

The Month 12 YTD tally is:
The Stock Market Bull: 6 months
The Stock Market Bear: 4 months
Mixed Results: 2 months

The Year 2018: The Stock Market Bear wins the year in a ruthless and dramatic come from behind in December.

Walt Disney(PBR51 $DIS) and Verizon(PBR17 $VZ) Fios reach a broad based agreement, current contract to carry programming from Disney Media Networks, including ESPN, and Disney-owned ABC stations, like New York City’s WABC, was set to expire at year-end. NY Post PR link.

Windstream(PBR461) sells the legacy 600,000 members EarthLink consumer internet business to Dallas, TX-based private equity firm Trive Capital for $330 million cash. $WIN PR link.

Michael Kors(PBR524) completes around $2.12 billion acquisition of Italian luxury fashion house Gianni Versace SpA, Michael Kors changes its name to Capri Holdings Limited, to start trading on 01/02/19 using ticker NYSE: CPRI. $CPRI PR link.

Activision Blizzard(PBR389) intends to terminate CFO Spencer Neumann’s employment for cause unrelated to the Company’s financial reporting or disclosure controls and procedures, placed on on a paid leave of absence pending an opportunity for him to demonstrate why cause does not exist, Chief Corporate Officer and former CFO Dennis Durkin appointed CFO. $ATVI PR link.

The US Dept of Treasury says the US Debt Held by the Public on 12/28/18 was at $16.069 trillion, by Intragovernmental Holdings $5.799 trillion, Total Debt $21.868 trillion, +0.1% from 11/30/18, +6.7% from 12/29/17. USTreasury PR link.

The Federal Reserve Bank of Chicago says the US 7th District Preliminary November 2018 Midwest Economic Index is at +0.09, October 2018 was at +0.20, September 2018+0.30, November 2017 +0.19. ChiFed PR link.

The Price/Ounce for Gold(GCG9 02/19) on 12/31/18 was at $1,284.70, 11/30/18 was $1,227.80, 12/31/17 $1,305.10; the Price/Barrel for Oil(CLG9 02/19) on 12/31/18 was at $45.81, 11/30/18 was $50.72, 12/31/17 $60.10; the Price/Bushel for Soybeans(SH9 03/19) on 12/31/18 was at 895.00 cents, 11/30/18 was 893.25 cents, 12/31/17 962.50 cents.

The US Treasury 10 Year Note Yield on 12/31/18 was at 2.69%, 11/30/18 was 3.01%, 12/31/17 2.40%.

The Conversion Rate for Euro1.0000 on 12/31/18 was $1.1474, 11/30/18 was $1.1320, 12/31/17 $1.2003.

The American Automobile Assn says US National Average Price Per Gallon of Regular Gas on 12/31/18 was at $2.266, 11/30/18 was at $2.493, 10/31/18 $2.801, 12/29/17 $2.477. AAA PR link.

***Friday, December 28:

The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/28/18:

DJIA ends the week at 23,062.40, +2.75% from last Friday, -9.70% MTD, -12.83% QTD, -6.70% YTD, -14.04% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 6,584.52, +3.97% from last Friday, -10.18% MTD, -18.17% QTD, -4.62% YTD, -18.81% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,485.74, +2.86% from last Friday, -9.94% MTD, -14.70% QTD, -7.03% YTD, -15.18% from record 2,930.75 set 09/20/18.

The Stock Market Bear made a strong showing on a shortened trading day on Monday. Tuesday the exchanges were closed for Christmas. Then The Stock Market Bull came back with a vengence on Wednesday, and held on to regain some dignity in the month of December taking Week 52, the final full week of the year, 3-0 and finishes even with The Stock Market Bear. Nevertheless, with only 1 trading day left in the year, The Stock Market Bearlooks to win 2018 with its dramatic come from behind deep gouging in December.

The Week 52 YTD tally is:
The Stock Market Bull: 21 weeks
The Stock Market Bear: 21 weeks
Mixed Results: 10 weeks

The Week 52 News Summary: It was basically a shortened 3 1/2 day trading week. The partial federal government shutdown, US/China trade relations, forecasts for a slowing global economy, the recent raising of the federal funds rate were a drag on the stock market exchanges. However, the continued strength of the US economy and record consumer spending during the holiday season more than offset the negatives.

Wells Fargo(PBR28) reaches agreement with all 50 state Attorneys General and the District of Columbia regarding previously disclosed retail sales practices, auto collateral protection insurance (“CPI”) and Guaranteed Asset/Auto Protection (“GAP”), and mortgage interest rate lock matters, will pay a total of $575 million to resolve the civil claims. $WFC PR link.

Sears(PBR168 $SHLDQ) Chairman Eddie Lampert’s ESL Holdings hedge fund offer of $4.6 billion in cash and equity for operator of Sears and Kmart stores could ward off immediate liquidation, nonbinding offer for the roughly 500 remaining Sears stores will keep about 50,000 employees working. MarketWatch PR link.

Sears(PBR168) identifies 80 additional KMartand Sears stores that will be closing by the end of 03/19, liquidation sales to start in around 2 weeks. $SHLDQ PR link.

Edwards Lifesciences(PBR646) gets US FDA approval for its SAPIEN 3 Ultra system for transcatheter aortic valve replacement in severe, symptomatic aortic stenosis patients who are determined to be at intermediate or greater risk of open-heart surgery. $EW PR link.

Tesla(PBR249) adds Oracle(PBR74) Executive Chairman, Chief Tech Officer, and Founder Larry Ellison and Walgreens Boots Alliance(PBR16)Executive VP and Global Chief Human Resources Officer Kathleen Wilson-Thompson to the Board as independent directors. $TSLA PR link.

The US Energy Information Administrationsays US Millions of Barrels of Crude Oil Stocks on 12/21/18 were at 441.4, was 450.5 on 11/23/18, 426.0 on 10/26/18, 431.9 on 12/22/17. EIA PR link.

The MNI December 2018 Chicago Business Barometer(>50=Gaining) is at 65.4, November 2018 was 66.4, October 2018 58.4, December 2017 67.8. “… the Barometer continues to signal a healthy business environment, notching the 34th consecutive reading above 50.” MNI PR link.

***Thursday, December 27:

Boston Scientific(PBR315) exercises $325 million option to acquire the remaining shares of Millipede, Inc, a privately-held company in Santa Rosa, CA, upon its recent successful completion of a first-in-human clinical study, $125 million payment becoming available upon achievement of a commercial milestone. $BSX PR link.

Essendant(PBR507) $12.80/share, $996 million cash, includes net debt, acquisition by Staplestender offer extended to 01/02/19, 69.9% of shares have been tendered. $ESND PR link.

Brunswick(PBR534) has been granted exclusions by the US Trade Representative and US Customs and Border Protection from Section 301 tariffs for its 40, 50 and 60hp Mercury Marine engines which are assembled by Mercury in China and sold globally. $BC PR link.

Public Storage(PBR760) President Joe Russell to add CEO role, CFO/Operations Tom Boyle to become corporate CFO, Chairman/CEO Ron Havner to retain Chairman role, outgoing CFO John Reyes will be joining Board, all effective on 01/01/19. $PSA PR link.

The US Dept of Labor says the US Initial Unemployment Insurance Claims 4 Week Moving Average for the Week Ending 12/22/18was at 218,000, -2.4% from 11/24/18, -8.3 from 12/28/17; Total Insured Unemployment 4 Week Moving Average for the Week Ending 12/15/18 was at 1,675,750, -0.0% from 11/17/18, -12.7% from 12/16/17. USDOL PR link.

The Conference Board says the US Preliminary December 2018 Consumer Confidence Index(1985=100) is at 128.1, November 2018 was 136.4, December 2017123.1. “Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short-term. While consumers are ending 2018 on a strong note, back-to-back declines in Expectations are reflective of an increasing concern that the pace of economic growth will begin moderating in the first half of 2019.” TCB PR link.

FreddieMac(PBR38) says US 30 Year Average Fixed Mortgage Rate on 12/27/18 is at 4.55% with 0.5 Fees & Points, 11/29/18 was at 4.81%, 10/25/18 4.86%, 12/28/17 3.99%. $FMCC PR link.

US Federal Government economic data for scheduled New Family Home Sales and US Net International Investment Position were scheduled for today but are delayed indefinitely per the US Government Shutdown.

***Wednesday, December 26:

Amazon(PBR8) customers purchased millions more Amazon Devices this holiday season compared to last year – the best-selling Amazon Devices included all-new Echo Dot, Fire TV Stick 4K with all-new Alexa Voice Remote, and Echo. $AMZN PR link.

JPMorgan Chase(PBR27 $JPM) to pay $135+ million to settle US Securities and Exchange Commission(SEC) charges of improper handling of “pre-released” American Depositary Receipts (ADRs), SEC acknowledges JPMorgan’s cooperation in the investigation and remedial acts. SEC PR link.

Henry Schein(PBR235) files SEC registration statement for spin-off of the Henry Schein Animal Health business and the subsequent merger with Vets First Choice to form an independent public company with name Covetrus, will list as NASDAQ: CVET, to be completed in 1Q19. $HSIC PR link.

AMC Entertainment(PBR504) adds over 100,000 new AMC Stubs A-List members, allows up to 3 movies per week in any format, now has over 600,000 members, started in 06/18. $AMC PR link.

MasterCard(PBR233) SpendingPulse(TM)reports holiday sales between 11/01/18 and 12/24/18 increased 5.1% to more than $850 billion this year – the strongest growth in the last six years. Online shopping also saw large gains of 19.1% compared to 2017. $MA PR link.

The Federal Reserve Bank of Richmond says the US 5th District December 2018 Service Sector Revenue Index is at +10%, October 2018 was at +5%, September 2018 -1%, December 2017 +25%. “… service sector activity grew moderately in December … Many firms also reported growth in demand and spending as well as strengthening business conditions … respondents were optimistic, expecting growth to continue in the coming months.” RichmondFed PR link.

The Federal Reserve Bank of Richmond says the US 5th District December 2018 Manufacturing Index is at -8%, November 2018 was at +14%, Octember 2018 +15%, December 2017 +30%. “… manufacturing activity weakened in December … weighed down by drops in the indexes for new orders and shipments.” RichmondFed PR link.

The S&P CoreLogic Case-Shiller Preliminary October 2018 Home Price Index(01/2000=100.00) is at 206.03, September 2018 was at 205.83, August 2018 205.71, October 2017 195.33. Case-Shiller PR link.

***Tuesday, December 25: Christmas Day.
US Stock Exchanges Closed.***

***Monday, December 24: Christmas Eve.
US Stock Exchanges Close Early at 1PM instead of 4PM Eastern.***

Tesla(PBR249 $TSLA)‘s Elon Musk tweets that Tesla will cover the difference of the electric vehicle tax credit of $7,500 which drops down to $3,750 on 01/01/19 for customers who ordered a Tesla by 10/15/18 for delivery by 12/31/18, but did not receive their vehicle because of production delays; Tesla also lowers prices for Model 3‘s sold in China by 7.6% to a starting price of $72,000. NYPost PR link.

KLA-Tencor(PBR582) continues to have advanced discussions with the State Administration for Market Regulation of the People’s Republic of China (SAMR) regarding clearance of the proposed $69.02/share in cash/stock, an equity value at $3.4 billion, merger involving KLA-Tencor and Orbotech(NASDAQ: ORBK) with a goal of obtaining clearance as soon as practicable in 2019. $KLAC PR link.

The Federal Reserve Bank of Chicago says the US Preliminary November 2018 National Activity Index is at +0.22, October 2018 was +0.0, September 2018 +0.15, November 2017+0.35. ChiFed PR link.

***Friday, December 21:

The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/21/18:

DJIA ends the week at 22,445.37, -6.87% from last Friday, -12.11% MTD, -15.17% QTD, -9.20% YTD, -16.34% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 6,332.99, -8.36% from last Friday, -13.61% MTD, -21.29% QTD, -8.26% YTD, -21.91% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,416.62, -7.05% from last Friday, -12.45% MTD, -17.07% QTD, -9.61% YTD, -17.54% from record 2,930.75 set 09/20/18.

The Stock Market Bull made a brief appearance on Tuesday. But it was really all about The Stock Market Bear, who completely decimated the exchanges for the 3rd week in a row with a dominating 3-0 win, in Week 51 now has the most weekly wins, and in what was unthinkable only a couple of months ago looks on track to grab 2018.

The Week 51 YTD tally is:
The Stock Market Bear: 21 weeks
The Stock Market Bull: 20 weeks
Mixed Results: 10 weeks

The Week 51 News Summary: The US economy continues to do well, but the week was hit with the hat trick of the threat of a possible partial US government shutdown, the Federal Reserve raising the federal funds rate 0.25%, and there was nothing to allay the concerns over US/China trade issues.

Amazon(PBR8) to open its first fulfillment service center in Mississippi, 554,000 sf facility in Marshall County, will employ 850 full-time people, minimum wage is $15/hour. $AMZN PR link.

Amazon(PBR8)’s Air Network expands the long term partnership with Air Transport Services Group, leases 10 additional 767-300 dedicated Amazon cargo aircraft, increasing the fleet to 50 aircraft. $AMZN PR link.

Sprint(PBR85) to pay record $330 million fine per settlement with NY State for not collecting proper state and local taxes on some wireless plans for nearly a decade. $S PR link.

Newell Brands(PBR196) completes $1.3 billion sale of $556 million in revenues in 2017 fishing gear provider Pure Fishing unit to Sycamore Partners and its $1.3 billion sale of $768 million in 2017 revenues yearbooks, publications, jewelry and consumer goods that serve the K-12 educational, college and professional sports segments provider Jostens unit to Platinum Equity. $NWL PR link.

Genworth Financial(PBR340) sale to China Oceanwide for $5.43/share, $2.7 billion cash gets approval of Delaware Regulator and FannieMae(PBR20) and Freddie Mac(PBR38), transaction close extended to 01/31/19 to get additional US, China and other regulatory approvals. $GNW PR link.

Host Hotels(PBR484) completes sale of its 33% stake in its European joint venture to the partner for $505 million. $HST PR link.

Alexion Pharmaceuticals(PBR638) gets US FDA approval for ULTOMIRIS™ (ravulizumab-cwvz), the first and only long-acting C5 complement inhibitor administered every eight weeks, for the treatment of adult patients with paroxysmal nocturnal hemoglobinuria (PNH), a debilitating ultra-rare blood disorder. $ALXN PR link.

Spectrum Brands(PBR691) $1.25 billion sale of its Global Auto Care business to Energizer Holdings(NYSE: ENR) gets passed US Federal Trade Commission and clearance from the Polish Competition Authority, has received all antitrust approvals needed, to close in 02/19. $SPB PR link.

Meredith Corp(PBR839) completes $150 million sale of its FORTUNE media brand to businessman Chatchaval Jiaravanon and is in active negotiations to sell the Sports Illustratedand MONEY media brands. $MDP PR link.

Lawsuit by Pennsylvania Attorney GeneralJosh Shapiro against student loan provider Navient(PBR965 $NAVI) gets US District Courtdecision to move forward per 70-page opinion released earlier this week. MarketWatch PR link.

PepsiCo(PBR44) N America CEO Al Carey to retire at the end of 03/19 after nearly 38 years with the Company, President/COO Frito-Lay N America Vivek Sankaran to be successor, President/COO N America Beverages Kirk Tanner to become CEO of Frito-Lay. $PEP PR link.

PVH(PBR320)’s Calvin Klein unit and its Chief Creative Officer Raf Simons amicably part ways per new brand direction, also will not be participating in New York Fashion Week in 02/19. $PVH PR link.

The US Dept of Commerce/BEA says US Preliminary November 2018 Total Personal Income Annual Rate is at $17.822 trillion, +0.2% from October 2018, +4.2% from November 2017, November 2018 Personal Current Taxes was $2.079 trillion, for Disposable Income of $15.743 trillion, Personal Outlays $14.799 trillion, for Personal Savings of $0.944 trillion, 6.0% of Disposable Income, 11.7% Effective Tax Rate. USDOC PR link.

The US Dept of Commerce says US 3Q18 3rd Estimate of Gross Domestic Product is +3.4%, Total Annual GDP is at $20.658 trillion, +1.2% from 2Q18, +5.5% from 3Q17; US 3Q18 Total Personal Consumption Expenditureswere at $14.050 trillion, +1.3% from 2Q18, +5.2% from 3Q17. USDOC PR link.

The U of Michigan Final December 2018 Consumer Sentiment Index is at 98.3, November 2018 was at 97.5, October 201898.6, December 2017 95.9. UMichigan PR link.

***Thursday, December 20:

Walgreens Boots Alliance(PBR19) in FY 1Q19 says it is launching a transformational cost management program, targets annual cost savings in excess of $1 billion by the end of the third year. $WBA PR link.

Boeing(PBR30) gets largest aircraft deal ever for the African continent, 100 737 MAX 8’s, for Lagos, Nigeria based Green Africa Airways, list price of $11.7 billion. $BA PR link.

Intel(PBR45) EVP/General Counsel Steven Rodgers writes article, “Qualcomm(PBR124)’s Patent Litigation Campaign isn’t Really about Vindicating Intellectual Property Rights.” $INTC PR link.

Cigna(PBR65) completes $96.18/share equivalent, $67 billion cash/stock acquisition of Express Scripts(PBR26). $CI PR link.

Altria(PBR110) invests $12.8 billion for 35% stake in US based e-vapor provider JUUL. $MO PR link.

Qualcomm(PBR124) gets permanent injunction ruling from District Court of Munich, Germany, against Apple(PBR2) for infringing on Qualcomm’s intellectual property for power savings in smartphones, Apple to cease the sale, offer for sale and importation for sale in Germany of infringing iPhones. $QCOM PR link.

NGL Energy(PBR161) sells South Pecos Water Disposal Assets to WaterBridge Resources for $238.8 million, to focus on its Delaware Basin Water Disposal operations in Texas. $NGL PR link.

Gap Inc(PBR177)’s Old Navy stores partners with Lyft to offer free round trips to pick up Buy Online Pick-Up In-Store purchases on the 2 Saturdays before Christmas Day. $GPS PR link.

Henry Schein(PBR235) and Vets First Choicesay that the new standalone public company from planned spin-off of the Henry Schein Animal Health business and the subsequent merger with Vets First Choice will be named Covetrus, will employ 5,000+ across 25 countries, have around 100,000 customers, Benjamin Shaw to be CEO, executive team named, to be completed in 1Q19. $HSIC PR link.

Perrigo(PBR512) to appeal tax due for around $1.9 billion to Ireland for Elan Pharma unit acquired in 12/13 for 2013, no payment due at this time, could take years to resolve. $PRGO PR link.

Greif(PBR627) to acquire N America $1.4 billion in sales paperboard manufacturer Caraustar for $1.8 billion, to close 1Q19. $GEF PR link.

Scientific Games(PBR699) has extended through 2025 its long-term license agreement with Hasbro(PBR496) and Hasbro International for the exclusive use of MONOPOLY and more than 15 other iconic game brands. $SGMS PR link.

Autodesk(PBR865) to acquire bid management, risk analysis and other preconstruction solutions with a network of more than 700,000 construction professionals provider BuildConnect for $275 million, to close by 01/31/19. $ADSK PR link.

Autodesk(PBR865) completes $875 million net of cash acquisition of San Francisco, CA-based cloud real-time collaboration construction productivity software provider PlanGrid. $ADSK PR link.

Pyxus(PBR894) applauds the passage of the 2018 Farm Bill, permanently removes hemp from the Controlled Substances Act, deems it an agricultural commodity. $PYX PR link.

WW(fka Weight Watchers)(PBR974) and Blue Apron (NYSE: APRN) announce WW x Blue Apron, a new partnership that features weekly rotating selection of recipes inspired by the WW Freestyle™ program and available for home delivery. $WTW PR link.

Campbell Soup(PBR327) hires Mark Clouse as President/CEO, effective 01/22/19, will succeed interim President/CEO Keith McLoughlin, who will remain a Director, activist investor Third Point supports the decision. $CPB PR link.

Avon Products(PBR468) hires Vikram Agarwal as SVP/Chief Supply Chain Officer, succeeds departing Michael Watson; SVP/Human Resources Susan Ormiston leaving in 01/19. $AVP PR link.

Pinnacle West(PBR620) promotes Jeffrey B. Guldner to President/Arizona Public Service, its largest subsidiary, will have responsibility for all areas of APS excluding nuclear generation. $PNW PR link.

Abercrombie & Fitch(PBR641) provides details on terms of departure for former Brands President Stacia Andersen. $ANF PR link.

The Federal Reserve Bank of Philadelphiasays the 3rd District December 2018 Manufacturing General Activity Indicator is at 9.4, November 2018 was 12.9, October 201822.2, December 2017 27.9. “Manufacturing activity in the region continued to grow but remained subdued … firms remained generally optimistic about future growth.” PhillyFed PR link.

The Conference Board says the US Preliminary November 2018 Leading Economic Index(2016=100) is at 111.8, October 2018 was at 111.6, September 2018111.9, November 2017 106.6. “Despite the recent volatility in stock prices, the strengths among the leading indicators have been widespread. Solid GDP growth at about 2.8 percent should continue in early 2019, but the LEI suggests the economy is likely to moderate further in the second half of 2019.” TCB PR link.

***Wednesday, December 19:

Apple(PBR2 $AAPL) releasing a software update to possibly avoid a ban on the sale of older iPhones in China. MarketWatch PR link.

Alphabet(PBR21 $GOOG)’s Google unit slammed in 100 page complaint to the US Federal Trade Commission for ‘disturbing’ children’s games. MarketWatch PR link.

Boeing(PBR30) forecasts demand of 2,300 new airplanes in India over next 20 years, valued at $320 billion. $BA PR link.

UPS(PBR42) expects 1.5 million packages to be returned on 12/19/18, National Returns Day, 1 million on other days, expects 1.3 million on 01/03/19, planning to deliver 800 million packages during holiday season. $UPS PR link.

Pfizer(PBR55) and GlaxoSmithKline plc (NYSE:GSK) to form joint venture global consumer healthcare company, Pfizer, with a 32% minor equity stake, will contribute its consumer healthcare business to GlaxoSmithKline’s existing consumer healthcare business, 2017 global sales for the combined business were approximately $12.7 billion, will later spin-off as an independent company. $PFE PR link.

Facebook(PBR68) provides clarification on their messaging partnerships, provides examples with Spotify, Netflix, Dropbox, and Royal Bank of Canada. $FB PR link.

Facebook(PBR68 $FB) being sued by Washington DC Attorney General for failing to protect millions of users’ data during 2016 elections. DC AG PR link.

T-Mobile(PBR69) and Seattle Mariners team Up to present hometown T-Mobile Park in new partner 25 year deal. $TMUS PR link.

Merck(PBR73) gets US FDA approval for KEYTRUDA® (pembrolizumab) for treatment of adult and pediatric patients with recurrent locally advanced or metastatic Merkel cell carcinoma, a rare form of skin cancer. $MRK PR link.

Merck(PBR73) and AstraZeneca get US FDA approval for LYNPARZA® (olaparib) for first-line maintenance therapy in BRCA-mutated advanced ovarian cancer. $MRK PR link.

3M(PBR87) to acquire $200 million in revenues/year healthcare technology of cloud-based, conversational Artificial Intelligence (AI)-powered systems that help physicians efficiently capture and improve the patient narrative business of M*Modal, for a total enterprise value of $1.0 billion, does not include other M*Modal business units. $MMM PR link.

Medtronic(PBR94) completes around $1.64 billion acquisition of Israel based robotic guidance systems pioneer Mazor Robotics (NASDAQ:MZOR, TASE:MZOR.TZ). $MDT PR link.

Thermo-Fisher Scientific(PBR138) $925 million acquisition of manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes Gatan, a wholly owned subsidiary of Roper Technologies(PBR530) requires additional UK review, last authorization required to close. $TMO PR link.

Bristol-Myers Squibb(PBR139) announces that Japan‘s largest over-the-counter drug company Taisho Pharmaceutical Holdings Co has offered to purchase Bristol-Myers Squibb’s French pharmaceutical company UPSA consumer health business for $1.6 billion, put option transaction, to close in 1H19. $BMY PR link.

Allergan(PBR174) suspends sales of textured breast implants and tissue expanders, is withdrawing any remaining supply in Europeanmarkets, follows a compulsory recall request from French regulatory authority Agence Nationale de Sécurité du Médicament (ANSM), stems from expiration of company’s CE Mark, plans to renew. $AGN PR link.

Newell Brands(PBR196) activist investor Carl Icahn and associates SEC filing shows they have increased their stake in NWL to 9.89%. $NWL PR link.

Alcoa(PBR251) will immediately begin to curtail half of the one operating potline at the Aluminerie de Bécancour Inc. (ABI) smelter in Québec, Canada, other 2 potlines curtailed in 01/18 because of union lockout, still in negotiations. $AA PR link.

Sempra Energy(PBR260) subsidiary gets 20 year deal to export US liquefied natural gas (LNG) from the Port Arthur LNG liquefaction-export facility to Polish Oil & Gas Co, for 2.7 billion cubic meters per year (after regasification) – enough natural gas to meet about 15% of Poland‘s daily needs. $SRE PR link.

Arthur J Gallagher(PBR443) acquires Southaven, MS-based broad range of property/casualty coverages to businesses and individuals provider Pointer Insurance Agency. $AJG PR link.

GNC(PBR799 $GNC) recalls nearly 800,000 units of ‘Women’s Iron Complete’ for child safety concerns. MarketWatch PR link.

AvalonBay Communities(PBR850) completes $460 million net proceeds sale of 80% interest in 5 Manhattan apartment communities, 1,301 apartment homes, 58,000 sf retail space, retains a 20% interest and act as the managing member and property manager for the assets. $AVB PR link.

Pier 1 Imports(PBR904) appoints director Cheryl A. Bachelder as interim CEO, succeeds Alasdair B. James, who has stepped down, is implementing a more rigorous cost reduction program, to evaluate a full range of strategic alternatives. $PIR PR link.

The Federal Open Market Committee issues statement raising federal funds rate 0.25% to 2.25% to 2.50%, says labor market has continued to strengthen and that economic activity has been rising at a strong rate, inflation remains near 2%, judges that risks to the economic outlook are roughly balanced, but will continue to monitor global economic and financial developments, anticipates some further gradual rate increases over the medium term. FOMC PR link.

The US Dept of Commerce/BEA says US Preliminary 3Q18 Total Exports of Goods, Services, and Income Receipts was at $930.3 billion, -0.7% from 2Q18, +7.1% from 3Q17; 3Q18 Total Imports of Goods, Services, and Income Payments was $1,055.1 billion, +1.7% from 2Q18, +8.5% from 3Q17; 3Q18 Deficit is $124.8 billion, +23.3% from 2Q18, +20.7% from 3Q17. USDOC PR link.

The Natl Assn of Realtors says US Preliminary November 2018 Existing Home Sales Annual Rate is at 5,320,000 units, +1.9% from October 2018, -7.0% from November 2017; November 2018 Median Sales Price is at $257,700, +0.9% from October 2018, +4.2% from November 2017. NAR PR link.

***Tuesday, December 18:

Amazon(PBR8) says third annual Digital Daywill be on Friday, 12/28/18, will feature significant discounts on thousands of digital content items including movies, TV shows, mobile games, apps, eBooks, and more. $AMZN PR link.

Kroger(PBR18) launches first-ever unmanned self-driving grocery delivery service available to the general public in partnership with Nuno, tested since August, initially available for a Scottsdale, AZ, Fry’s Food store, $5.95/delivery, no minimum. $KR PR link.

Kroger(PBR18) to sell its digital coupon and digital rebate publishing unit You Technology to Inmar in conjunction with a long-term services agreement with Inmar for the continued delivery of digital offer management services to Kroger, to close 1Q19, terms not disclosed. $KR PR link.

FedEx(PBR43) announces cost reduction actions, includes voluntary buyout program for eligible employees, limited hiring in staff functions. $FEDX PR link.

Cisco(PBR58) to acquire privately held Carlsbad, CA-based specialty semiconductor products manufacturer Luxtera for $660 million cash. $CSCO PR link.

Charter Communications(PBR67 $CHTR) to pay record $174.2 million consumer fraud settlement for defrauding Internet subscribers per NY Attorney General‘s office. NY AG PR link.

Eli Lilly(PBR121) to pay $12 million upfront plus up to $620 million based on achieving milestones plus royalties to Aduro Biotech (NASDAQ: ADRO) for a research collaboration and exclusive license agreement for Aduro’s cGAS-STING Pathway Inhibitor program for the research and development of novel immunotherapies for autoimmune and other inflammatory diseases. $LLY PR link.

Amgen(PBR122) to pay $50 million upfront plus up to $497 million based on achieving milestones plus royalties to Molecular Partners AG (SIX: MOLN) in a joint venture to develop MP0310 in combination with Amgen’s oncology assets. $AMGN PR link.

United Natural Foods(PBR283) to transfer trading of its common stock from the NASDAQ Global Select Market, to begin trading on the NYSE on 01/02/19, will continue to use stock symbol UNFI. $UNFI PR link.

ConAgra Brands(PBR347) to sell its Wesson® Oil brand to Canada‘s largest agribusiness, Richardson International, to close in 1Q19, terms not disclosed. $CAG PR link.

Cooper-Standard(PBR622) plans to build a new 3 story 110,000 sf world headquarters in Northville, MI, near its current Novi, MI facility, to be completed in early 2020, to house 400 employees, expandable options. $CPS PR link.

Alliant Energy(PBR654) moving its stock exchange listing to NASDAQ from the NYSEeffective after the market closes on 12/28/18, will continue to use stock symbol LNT. $LNT PR link.

SkyWest(PBR682) to sell its ExpressJet Airlines unit to ManaAir for $70 million cash for the majority of assets and assumption of ExpressJet liabilities, to close in early 2019. $SKYW PR link.

McDermott Intl(PBR710) signs 16-year lease for new headquarters at Energy Center Five, an 18-story, 524,000 sf office tower in Houston, TX, will consolidate 1,700 employees to 1 location from 5 locations, move in starts mid 2019. $MDR PR link.

Rent-A-Center(PBR756) terminates $15.00/share, $1.365 billion cash acquisition by private equity firm Vintage Capital, did not receive an extension notice from Vintage Capital by end of day 12/17/18, asks for the reverse breakup fee of $126,500,000 within three business days per merger agreement. $RCII PR link.

Duke Energy(PBR114) former Chairman/CEO Jim Rogers dies at age 71, was CEO from 2006 to 2013, influential in building the largest US electric utility, led Duke Energy to focus on reducing greenhouse gas emissions and steered the company to more renewable energy. $DUK PR link.

Eastman Chemical(PBR299) SVP/Corporate Development and Chemical Intermediates Damon C. Warmack to retire mid 2019, SVP/Additives & Functional Products Dr. Lucian Boldea to become an EVP and assume leadership of Chemical Intermediates effective 01/01/19. $EMN PR link.

Brunswick(PBR534) Chief Human Resources Officer Brenna Priesser to add President/Business Acceleration role to her responsibilities, effective 01/01/19. $BC PR link.

The US Dept of Commerce/HUD says US Preliminary November 2018 Private Housing Building Permits Issues Annual Rate is at 1,328,000 units, +5.0% from October 2018, +0.4% from November 2017. USDOC PR link.

***Monday, December 17:

Alphabet(PBR21)’s Google unit expanding commitment to New York City, investing over $1 billion in capital improvements to establish a new 1.7 million sf campus, Google Hudson Square, to start moving in in 2020. $GOOG PR link.

Boeing(PBR30) increases share repurchase authorization to $20 billion from $18 billion authorized in 12/17, has used $9 billion. $BA PR link.

Boeing(PBR30) to acquire 80% stake for $4.2 billion in joint venture with Brazil based Embraer(B3: EMBR3, NYSE: ERJ), needs Brazil and other regulatory approvals, to close by end of 2019. $BA PR link.

Johnson & Johnson(PBR36) authorizes up to $5 billion share repurchase program. $JNJ PR link.

T-Mobile(PBR69) and Sprint(PBR85) $59 billion all stock merger gets approval from Committee on Foreign Investment in the US (CFIUS), US Dept of Justice, US Dept of Homeland Security, and Dept of Defense, collectively referred to as Team Telecom, has no objections to the merger and has withdrawn its request to defer action, still needs additional regulatory approvals, to close in 1H19. $TMUS PR link.

Oracle(PBR77 $ORCL) buys back $10 billion in shares in recent quarter, on track to do $20 billion in FY2019, up from $11.5 billion in FY2018, opinion piece says it inflates earnings per share number. MarketWatch PR link.

Goldman Sachs(PBR86 $GS) faces charges in Malaysia over massive corruption scandal, denies any wrongdoing. NPR PR link.

Carnival Corp(PBR159) to launch 4 new ships in 2019, 20 new ships scheduled for delivery between 2019 and 2025. $CCL PR link.

BNY Mellon(PBR181) to pay $54+ million to settle charges with the US Securities and Exchange Commission for improper handling of “pre-released” American Depositary Receipts (ADRs). $BK PR link.

Universal Health(PBR257) authorizes an increase of $500 million for share repurchase program, is now $1.7 billion, $1.16 billion used. $UHS PR link.

Air Products(PBR318) to increase product pricing, monthly service charges, and surcharges for merchant customers in N America by 10 to 20%, effective 01/01/19, because of increased costs. $APD PR link.

Arthur J Gallagher(PBR443) to acquire Conshohocken, PA-based retail property/casualty insurance broker Preston-Patterson Co, terms not disclosed. $AJG PR link.

Whirlpool(PBR134) Chairman Jeff M. Fettig to retire after 38 years with the company on 12/31/18, CEO Marc Bitzer to add Chairman role on 01/01/19. $WHR PR link.

CBS(PBR215) Board determines there are grounds to terminate former Chairman/CEO Les Moonves for cause, he will not receive any severance payment(estimated at $120 million). $CBS PR link.

Acadia Healthcare(PBR724) Chairman/CEO Joey Jacobs removed from his roles, hires Debbie Osteen as CEO, Lead Director Reeve B. Waud elected Chairman. $ACHC PR link.

Kroger(PBR18) EVP/CFO J. Michael Schlotman to retire as CFO by 04/03/19, remain EVP through 12/28/19, CEO of Kroger Personal Finance Gary Millerchip to become SVP/CFO on 04/04/19. $KR PR link.

Trinity Industries(PBR618) SVP/CFO James E. Perry to leave after filing of annual 10-K, SVP/Chief Administrative Officer Melendy Lovett to be successor. $TRN PR link.

Tower Intl(PBR872) COO Mike Rajkovic agrees to accelerated retirement because of pending divestiture of European operations. $TOWR PR link.

The Federal Reserve Bank of New York says the Empire State Preliminary December 2018 Manufacturing General Business Conditions Index is at 10.9, November 2018 was at 23.3, October 2018 21.1, December 2017 19.6. NYFed PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary December 2018 Housing Market Composite Index is at 56, November 2018 was at 60, October 2018 68, November 2017 74. NAHB/WF PR link.

***Friday, December 14:

The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/14/18:

DJIA ends the week at 24,100.51, -1.18% from last Friday, -5.63% MTD, -8.91% QTD, -2.50% YTD, -10.17% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 6,910.66, -0.84% from last Friday, -5.73% MTD, -14.11% QTD, +0.11% YTD, -14.79% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,599.95, -1.26% from last Friday, -5.80% MTD, -10.78% QTD, -2.76% YTD, -11.29% from record 2,930.75 set 09/20/18.

The Stock Market Bull did okay during the first four days of the week, then The Stock Market Bear came charging in on Friday bigtime to take a 3-0 win in Week 50. With his 2 week dramatic winning streak he now evens the match for weekly victories and threatens to capture 2018as well.

The Week 50 YTD tally is:
The Stock Market Bull: 20 weeks
The Stock Market Bear: 20 weeks
Mixed Results: 10 weeks

The Week 50 News Summary: The US economy continues to do well, but there are growing concerns about the projections of global economy growth, about US/China trade issues, and a fair amount of conjecture on whether or not The Fed will raise federal short term interest rates next week. There is also the threat of a US government shutdown at the end of next week, and the media is having a hay day covering President Trump’s former trusted advisors as they plead guilty to a variety of charges that might create complications for his presidency and personal life.

GE(PBR19) plans on a tender process for the appointment as GE’s independent audit firm, only 65% of shareholder votes were for retaining KPMG, which has been reappointed for 2019 by the Audit Committee. $GE PR link.

Johnson & Johnson(PBR36) replies to article published by Reuters which says J&J’s baby powder talc contains asbestos, J&J says article is one-sided, false, and inflammatory; says its baby powder talc has been tested for decades thousands of time by independent labs worldwide and regulators and asbestos has never been detected. $JNJ PR link.

Merck(PBR73) to acquire France based around $410 million in global revenue digital animal identification, traceability and monitoring solutions provider Antelliq Group for around $2.4 billion cash, assumes $1.3 billion in debt which it will pay off upon transaction closing, will become wholly owned subsidiary with the Animal Health Division, to close in 2Q19. $MRK PR link.

Amgen(PBR122) gets US FDA approval for Nplate® (Romiplostim) for use In pediatric patients with immune thrombocytopenia. $AMGN PR link.

XPO Logistics(PBR185) authorizes up to $1 billion share repurchase program. $XPO PR link.

PPG(PBR193) to acquire Elverson, PA based 700+ employees globally in 10 plants manufacturer of low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction products and nonstick coatings for cookware, bakeware and small electric appliances Whitford Worldwide, to close 1Q19, terms not disclosed. $PPG PR link.

Dominion Energy(PBR228) and SCANA(PBR547) $7.9 billion all stock transaction, $14.6 billion with debt merger gets Public Service Commission of S Carolinaapproval with some conditions to be published on 12/21/18, last regulatory approval required. $SCG PR link.

Tesla(PBR249 $TSLA) sells $837 million of bonds backed by auto leases. MarketWatch PR link.

Flowers Foods(PBR594) completes around $205 million acquisition of privately held, gluten-free baking company Johnstown, CO, based $70-80 million in revenues anticipated in 2019 Canyon Bakehouse. $FLO PR link.

Albemarle(PBR701) subsidiary to acquire 50% of Mineral Resources Limited (ASX: MIN)’s Wodgina hard rock lithium project in Western Australia for $1.15 billion and form a 50/50 joint venture with MRL to own and operate the Wodgina Project to produce spodumene concentrate and battery grade lithium hydroxide. $ALB PR link.

Genesco(PBR719) to sell its Lids Sports Group headwear unit for $100 million in cash to FanzzLids Holdings, a holding company of affiliates of Ames Watson Capital; Genesco also authorizes increase of current share repurchase program to $125 million. $GCO PR link.

Lincoln Financial(PBR202) hires Leon Roday as EVP/General Counsel. $LNC PR link.

The US Dept of Labor says the US September 2018 Average Wages & Salaries/Hour was at $25.03, Average Benefits/Hour $11.60, Total Average Hourly Compensation was $36.63, +1.1% from June 2018, +2.8% from September 2017. USDOL PR link.

The US Federal Reserve says US Preliminary November 2018 Total Industry % of Manufacturing Capacity was at 78.5%, October 2018 was 78.1%, September 201878.4%, November 2017 77.1%. USFed PR link.

The US Dept of Commerce/Census says US Preliminary October 2018 Total Sales for Manufacturers was $508.4 billion, Retail $451.5 billion, and Wholesale $510.1 billion for Total Sales of $1.470 trillion, +0.3% from September 2018, +6.1% from October 2017. USDOC PR link.

The US Dept of Commerce/Census says US Advance November 2018 Retail Sales were at $452.9 billion, Food Services & Drinking Places $60.6 billion, Total Retail $513.5 billion, +0.2% from October 2018, +4.2% from November 2017. USDOC PR link.

***Thursday, December 13:

Apple(PBR2) to do major expansion of its operations in Austin, TX, including an investment of $1 billion to build a new campus in N Austin, also plans to establish new sites in Seattle, WA, San Diego, CA, and Culver City, CA, and expand in cities across the US including Pittsburgh, PA, New York. NY, and Boulder, CO over the next three years, to create 20,000 new jobs by 2023. $AAPL PR link.

GE(PBR18) to establish a new, independent company focused on building a comprehensive Industrial Internet of Things (IIoT) software portfolio, will start with $1.2 billion in annual software revenue and an existing global industrial customer base, to be a GE wholly-owned, independently run business with a new brand and identity, its own equity structure, and its own Board of Directors. $GE PR link.

GE(PBR18) Digital unit to sell majority stake in its cloud-based software productivity tools for field service technicians ServiceMax business to Silver Lake investment firm, will retain 10% equity interest, to close in early 2019, terms not disclosed. $GE PR link.

Intel(PBR45 $INTC) and ESL Gaming to invest over $100 million over 3 years to develop and promote esports. ESL Gaming PR link.

Centene(PBR59) to do 2:1 stock split in 1Q19, will require shareholder approval. $CNC PR link.

Coca-Cola(PBR81) extending a loan to Ioniqa Technologies (The Netherlands) for development of Ioniqa’s proprietary technology to produce high-grade, recycled PET content from hard-to-recycle plastic waste for use in bottles used by Coca-Cola. $KO PR link.

AbbVie(PBR101) authorizes a $5 billion increase to its existing stock repurchase program. $ABBV PR link.

Starbucks(PBR124) outlines growth agenda at investor conference, topics include Starbucks Delivers partnerships with Uber Eats in the USand Ele.me in China for delivery services, digital partnership with Alibaba in China, introducing Nitro Cold Brew in US stores, market opportunities with Nestle, expanding benefits packages for employees. $SBUX PR link.

L Brands(PBR225) to transfer ownership and operating control of its $250 million in 2018 revenues and $40 million loss La Senza fashion unit to an affiliate of global private equity firm Regent LP, in return for future consideration. $LB PR link.

Henry Schein(PBR235) authorizes $400 million share repurchase program, previous $400 million authorization has been completed. $HSIC PR link.

Consolidated Edison(PBR245) completes $1.54 billion acquisition of a Sempra Energy(PBR261) subsidiary for $1.54 billion that owns 981 megawatts (MW) AC of operating renewable electric production projects, with 2,600 MW AC ConEd is now 2nd largest producer of solar energy in N America. $ED PR link.

Mylan(PBR247) gets favorable US Patent and Trademark Appeal Board decision, found all claims of Sanofi’s Lantus (insulin glargine 100 Units/mL) formulation patents unpatentable, has 12 month sales over $6.5 billion. $MYL PR link.

Ball Corp(PBR266) to sell its metal beverage packaging facilities in China to ORG Technology Co. Ltd. (SZSE:002701) for approximately $225 million, to close 2H19. $BLL PR link.

Ingredion(PBR439) investing $140 million to accelerate production and expand portfolio of plant-based proteins, including pulse flours, concentrates and isolates. $INGR PR link.

Pioneer Natural Resources(PBR477)authorizes up to $2 billion share repurchase program. $PXD PR link.

Scientific Games(PBR699) to pay $151.5 million settlement in its litigation with Shuffle Tech International LLC and other plaintiffs. $SGMS PR link.

Avon Products(PBR468) hires Gustavo Arnal to be EVP/CFO starting in Spring 2019, succeeds departing Jamie Wilson. $AVP PR link.

Chipotle(PBR537) completes executive team with hiring of Roger Theodoredis as Chief Legal Officer and Tabassum Zalotrawala as Chief Development Officer, other executive team members listed. $CMG PR link.

Alliant Energy(PBR655) SVP and President/Interstate Power and Light(IPL) Douglas R. Kopp to retire in 1H19, John Larsen promoted to President/COO and CEO/IPL and Wisconsin Power & Light(WPL), effective 01/01/19. $LNT PR link.

MSC Industrial(PBR715) SVP/ Sales & Customer Success Dave Wright has resigned to pursue another opportunity, successor search starts. $MSM PR link.

The US Dept of Treasury says US November 2018 Federal Government Receipts were $206.0 billion, Outlays $410.9, Total Deficit$204.9 billion; Receipts YTD(2 months) are at $458.7 billion, Outlays YTD $764.0 billion, Total Deficit YTD $305.4 billion, November 2017 Total Deficit YTD was $201.8 billion. USTreasury PR link.

The US Dept of Labor says US Preliminary November 2018 Import Prices were -1.6%, October 2018 was +0.5%, September 2018+0.0%, November 2017 +1.0%, Last 12 Months +0.7%; November 2018 Export Priceswere -0.9%, October 2018 was +0.5%, September 2018 +0.0%, November 2017+0.5%, Last 12 Months +1.8%. USDOL PR link.

***Wednesday, December 12:

Walmart(PBR1 $WMT) and Express Scripts(PBR26) extend existing agreement to 3 more years to provide access to Walmart’s prescription services for Express Scripts clients’ covered members, to deliver additional affordable prescription solutions, averaging a 40% discount, to millions of underinsured and uninsured Americans. $ESRX PR link.

Kroger(PBR18) launches its Rx Savings Club, a new program designed to significantly reduce the cost of prescription drugs for customers across the country, adding to the retailer’s Wellness Your Way platform, developed in partnership with GoodRx, offers 3 tier pricing. $KR PR link.

Lowe’s(PBR40) authorizes new $10 billion share repurchase program, adds to current program which has $4.5 billion still available. $LOW PR link.

Merck(PBR73) to invest an initial $26 million and up to an additional $75 million based on achieved milestone, plus sales royalties, in Instituto Butantan, Sao Paulo, Brazil, a non-profit producer of immunobiologic products for Brazil in a collaboration agreement to develop vaccines to protect against dengue virus disease, the mosquito-borne infection. $MRK PR link.

Arrow Electronics(PBR104) authorizes additional $600 million share repurchase program. $VZ PR link.

Avnet(PBR152) to acquire privately held 500 employees in the US and India software and Artificial Intelligence (AI) company Softweb Solutions, terms not disclosed. $AVT PR link.

Norfolk Southern(PBR272) to relocate its headquarters from Norfolk, VA, to new facility to be built in Atlanta, GA. $NSC PR link.

Bausch Health(PBR325) to acquire certain assets of in Chapter 11 as of today biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies Synergy Pharmaceuticals(NASDAQ: SGYP) for approximately $200 million plus certain assumed liabilities as the “stalking horse” bidder. $BHS PR link.

NVR(PBR426) authorizes $300 million share repurchase program. $NVR PR link.

Laureate Education(PBR551) to sell 5 of its its universities in Spain and Portugal to global private equity firm Permira Funds for $871 million, to close 1H19. $LAUR PR link.

Boston Properties(PBR766) to acquire 650,000 MW hours of environmental attributes over three years from Capricorn Ridge II Wind Farm in Sterling, TX, projected power consumption at 33 buildings and garages totaling 15 million square feet in Boston, MA, area, reduces carbon intensity by 78% from 2008 base. $BXP PR link.

Boyd Gaming(PBR809) authorizes new $100 million share repurchase program, is in addition to the Company’s existing repurchase authorization. $BYD PR link.

Curtis-Wright(PBR830) authorizes additional $100 million for share purchase program. $CS PR link.

Wendy’s(PBR984) is first restaurant chain to partner with the Progressive Beef™ program, a verification program that includes understanding antibiotics use, humane environment for cattle; also has initiative to source vine-ripened tomatoes for its N American restaurants exclusively from US and Canada greenhouse farms by early 2019. $WEN PR link.

Owens & Minor(PBR308) interim CFO Robert Snead now officially EVP/CFO. $OMI PR link.

Brink’s(PBR667) hires George Neill as Chief Marketing Officer. $BCO PR link.

Synovus Financial(PBR949) CFO Kevin Blair now SVP/COO, will also be interim CFO until successor on board. $SNV PR link.

Regions Financial(PBR446) appoints Lead Independent Director Charles D. McCrary to be the independent Chair of the Board, effective 01/01/19, will succeed Executive Chairman O. B. Grayson Hall, Jr., who retires 12/31/18. $RF PR link.

SAIC(PBR541) appoints director Donna Morea as Chair, to succeed Edward “Sandy” Sanderson, Jr., who will remain a director, will be effective following the closing of SAIC’s planned acquisition of Engility Holdings 01/19. $SAIC PR link.

Par Pacific(PBR801) Chairman Melvyn N. Klein to step down effective 01/01/19, but will remain a Director, Vice Chairman Robert S. Silberman to be successor. $PARR PR link.

The US Dept of Labor says the US Preliminary November 2018 Average Current Earnings/Hour is at $27.35, Average Hours Worked/Week 34.4, for Current Weekly Earnings of $940.84, -0.1% from October 2018, +2.8% from November 2017. USDOL PR link.

The US Dept of Labor says the US November 2018 Consumer Price Index is at +0.0%, All Items Less Food and Energy +0.2%, Last 12 Months +2.2%, October 2018 was at +2.5%, September 2018 +2.3%, November 2017+3.0%. USDOL PR link.

***Tuesday, December 11:

Verizon(PBR17) voluntary separation program for select U.S.-based management employees to result in 10,400 eligible employees separating by the end of 06/19, with nearly half exiting in 12/18; expects to record a non-cash goodwill impairment charge of approximately $4.6 billion in 4Q18 for its Oath digital advertising business; expects to complete an internal reorganization of legal entities associated with its wireless business in 12/18 resulting in a non-recurring deferred tax benefit of approximately $2.1 billion 4Q18. $VZ PR link.

Alphabet(PBR21)’s Google unit to accelerate sunsetting of its Google+ platform within 90 days because of low usage and recently discovered bugs. $GOOG PR link.

Allstate(PBR75 $ALL) plans to bring 2,500 jobs, possible corporate campus to Chandler, AZ. Arizona Republic PR link.

McDonald’s(PBR123) announces a policy to reduce the overall use of antibiotics in its beef products, will start with 10 largest beef suppliers. $MCD PR link.

Cinemark(PBR708) says its Movie Club, the first exhibitor-sponsored subscription program, has surpassed 500,000 active members with more than 1,400 members per theatre, exceeds original first year forecast by more than doubling initial projections, $8.99/mo. $CNK PR link.

Avista(PBR957) commissions Adams Nielson solar array located in Lind, WA, is a 28 Megawatt DC array comprised of 81,700 panels spanning 200 acres, generates enough electricity to supply the equivalent of approximately 4,000 homes annually, is largest solar array in Washington State. $AVA PR link.

Adtalem Education(PBR983) completes divestiture of Carrington College to San Joaquin Valley College, completes divestiture of DeVry University to Cogswell Education, to focus on post secondary education in the medical and healthcare markets. $ATGE PR link.

Axalta(PBR552) interim CEO Robert Bryant named permanent CEO, VP and interim CFO Sean Lannon also named permanent CFO, both effective immediately. $AXTA PR link.

Cleveland-Cliffs(PBR819) promotes EVP/Business Development Clifford T. Smith to EVP/COO, effective 01/01/19. $CLF PR link.

The US Dept of Labor says US Preliminary November 2018 Total Final Monthly Demand Producer Price Index is at +0.1%, October 2018 was at +0.6%, September 2018 +0.2%, November 2017 +0.4%, Last 12 Months+2.5%. USDOL PR link.

CoreLogic says US September 2018 Housing Loans 30 Days Or More Delinquents is at 4.4%, August 2018 was 4.0%, July 2018 4.1%, September 2017 5.0%, “Overall U.S. mortgage delinquency rates are up in natural disaster areas but down nearly everywhere else.” CoreLogic PR link.

Manpower(PBR137) says US hiring intentionsat 12 year high as demand for workers is set to grow in 2019 with positive job forecasts in all 50 states and 100 largest metro areas. $MAN PR link.

China informs US Sec of the Treasury Munchin that they will be reducing tariffs on US imported automobiles from 40% down to 15% as part of trade negotiations. MarketWatch PR link.

***Monday, December 10:

Qualcomm(PBR124) gets approval from China courts for two preliminary injunctions against four Chinese subsidiaries of Apple(PBR2) to immediately cease infringing upon two Qualcomm patents through the unlicensed importation, sale and offers for sale in China of iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X. $QCOM PR link.

CBS(PBR215) to sell 25-acre CBS Television City® property and sound stage operation to Los Angeles-based real estate developer Hackman Capital Partners for $750 million. $CBS PR link.

Tesla(PBR249 $TSLA)‘s CEO Elon Musk slams SEC, in “60 Minutes” interview says Tesla’s critics have been ‘unfair’ and ‘outrageous’.MarketWatch PR link.

Arthur J Gallagher(PBR443) acquires Toronto-based Accompass, provides health & welfare, investment & retirement, executive compensation, and broad-based compensation consulting and support services to clients throughout Canada, terms not disclosed. $AJG PR link.

Arthur J Gallagher(PBR443) acquires Chicago, IL-based captive consultant focused exclusively on US medical and professional liability participants Captive Insurance Company Design and Operations, terms not disclosed. $AJG PR link.

WABCO(PBR672) authorizes new up to $600 million share buyback program, effective 01/01/19 through 12/31/20, $300 million to be used from previous authorization by 12/31/18. $WBC PR link.

Red Hat(PBR715) sets special shareholders meeting for 01/16/19 to vote on $190.00/share, $34 billion cash acquisition by IBM(PBR34), to close 2H19 if approved. $RHT PR link.

EnerSys(PBR780) completes $750 million cash/stock acquisition of certain assets of select entities belonging to Bellingham, WA, based global commercial-grade energy solutions for broadband, telecom, renewable, industrial and traffic customers provider Alpha Technologies, did $591 million for year ending 06/30/18. $ENS PR link.

Allscripts(PBR900) to sell its interests in behavioral health, human services and post-acute care technologies provider Netsmart Technologies, will net around $525 million after taxes. $MDRX PR link.

GoPro(PBR994) plans to move most of its US-bound camera production out of China by the summer of 2019 to mitigate the potential impact of inclusion on any new tariff lists. International-bound camera production will remain in China.$GPRO PR link.

Gilead Sciences(PBR107) hires Daniel O’Day as Chairman/CEO, effective 03/01/19, Chief Patient Officer Gregg Alton named interim CEO from 01/01/19 to 03/01/19, succeeds President/CEO John F. Milligan, PhD, who steps down on 12/31/18. $GILD PR link.

Lockheed(PBR56) to promote Kenneth R. Possenriede to EVP/CFO, effective 02/11/19, to succeed Bruce L. Tanner who is retiring in mid 2019. $LMT PR link.

Merck(PBR73) President/Global Human Health Adam H. Schechter to step down 12/31/18 to become advisor to CEO, in reorganization successors will be Frank Clyburn as Chief Commercial Officer and Michael Nally as Chief Marketing Officer. $MRK PR link.

Owens & Minor(PBR308) hires Joseph S. Pekala as SVP/Chief Information Officer. $OMI PR link.

Spirit AeroSystems(PBR392) hires Jose Ignacio Garcia as SVP/Chief Financial Officer effective 01/09/19, to succeed retiring Sanjay Kapoor. $SPR PR link.

Clorox(PBR445) promotes Linda Rendle to EVP/Strategy and Operations and Eric Reynolds to EVP/Cleaning and Burt’s Bees, both effective 01/07/19. $CLX PR link.

S&P Global(PBR450) President/S&P Global Market Intelligence andEVP/Data & Technology Mike Chinn to leave in 03/19, Martina Cheung to become President/S&P Global Market Intelligence, Nick Cafferillo to become Chief Data & Technology Officer with an expanded role, both effective 01/02/19. $SPGI PR link.

PerkinElmer(PBR838) promotes Prahlad Singh to newly created role of President/COO, effective 01/01/19. $PKI PR link.

The US Dept of Labor says US Preliminary October 2018 Private Job Openings were at 6,489,000, Government 590,000, Total Job Openings 7,079,000, +1.7% from September 2018, +16.8% from October 2017; Net Employment Change Over Last 12 Months is +2,511,000, +0.2% from September 2018, +18.2% from October 2017. USDOL PR link.

Manpower(PBR137) says global 1Q19 hiring intentions point to continued global labor market growth led by US and Asia. $MAN PR link.

***Friday, December 7:

The PBRMarketTools US Stock Exchanges Recap for the Week Ending 12/07/18:

DJIA ends the week at 24,388.95, -4.50% from last Friday/MTD, -7.82% QTD, -1.34% YTD, -9.09% from record 26,743.50 set 09/21/18.

NASDAQ ends the week at 6,969.25, -4.93% from last Friday/MTD, -13.39% QTD, +0.95% YTD, -14.06% from record 8,109.69 set 08/29/18.

SPX ends the week at 2,633.08, -4.60% from last Friday/MTD, -9.64% QTD, -1.52% YTD, -10.16% from record 2,930.75 set 09/20/18.

After a good appearance by The Stock Market Bull on Monday, The Stock Market Bearviciously slashed and gashed away the rest of the shortened trading week for an overwhelming 3-0 win in Week 49 and threatens to even the match and perhaps even take the year.

The Week 49 YTD tally is:
The Stock Market Bull: 20 weeks
The Stock Market Bear: 19 weeks
Mixed Results: 10 weeks

The Week 49 News Summary: While the US economy remains to show strong growth, it is being countered by the uncertainty of US/China trade and relations, uncertainty of what the Fedwill do with federal short term interest rates, and uncertainty about oil production. Corporate earnings were also mixed, the jobs report by many is regarded as soft, the government funding bill was kicked down the road a couple of weeks. At the same time the nation mournedthe loss of a beloved leader, George HW Bush, the 41st President of the US, whose leadership style is greatly missed.

Facebook(PBR68) authorizes an additional $9.0 billion for its share repurchase program, previous authorization was for up to $15.0 billion, no expiration date. $FB PR link.

Altria(PBR110) to acquire 45% stake in Toronto, CAN based global cannabinoid company Cronos Group(TSX: CRON and NASDAQ: CRON) for $1.8 billion, includes right to nominate 4 directors, and to acquire up to an additional 10% stake over 4 years. $MO PR link.

Altria(PBR110) to discontinue production and distribution of all MarkTen and Green Smoke e-vapor products and VERVE oral nicotine containing products, will refocus on more compelling reduced-risk tobacco product opportunities. $MO PR link.

Arthur J Gallagher(PBR443) acquires UKbased retail insurance broker Pavey Group, terms not disclosed. $AJG PR link.

Tower Intl(PBR872) to sell its European Operations to privately owned French automotive supplier Financière SNOP Dunois S.A. for around $290 million, to close 1Q19. $TOWR PR link.

Hillenbrand(PBR906) authorizes new share repurchase program for up to $200 million, no expiration date. $HI PR link.

Synovus Financial(PBR949) $2.9 billion all stock acquisition of FCB Financial Holdings, Inc. (NYSE: FCB), owner of Florida Community Bank (FCB), Florida’s largest community bank, gets regulatory approval from the Federal Reserve Board and the Georgia Dept of Banking and Finance, to close around 01/01/19. $SNV PR link.

Graco(PBR953) authorizes new up to 18 million shares repurchase program, is in addition to current program which has 3.3 million shares available, no expiration date. $GGG PR link.

Tesla(PBR249) hires Dane Butswinkas as General Counsel, succeeds Todd Maron who will be departing at end of 2018. $TSLA PR link.

The US Dept of Labor says US November 2018 Available Labor Force is at 162,770,000, Employed at 156,795,000, +233,000 from October 2018, +2,878,000 from November 2017, Unemployed at 5,975,000, -100,000 from October 2018, -641,000 from November 2017, Unemployment Rate at 3.7%, November 2017was at 4.1%. USDOL PR link.

The US Dept of Commerce/Census says US Preliminary October 2018 Total Wholesale Durable Goods Sales were at $246.9 billion, Non-Durable Goods $263.2 billion, Total Wholesale Sales $510.1 billion, -0.2% from September 2018, +6.8% from October 2017. USDOC PR link.

The US Federal Reserve Board says US Preliminary October 2018 Revolving Consumer Credit Outstanding Annual Rate is at $1.037 trillion, Non-Revolving $2.296 trillion, Total Consumer Credit Outstanding Annual Rate $3.964 trillion, +0.9% from September 2018, +3.6% YTD(10 months), +4.5% from October 2017. USFed PR link.

Fannie Mae(PBR20) says its US November 2018 Home Purchase Sentiment Index is at 86.2, October 2018 was at 85.7, September 2018 87.7, November 2017 87.8. “The HPSI has moved within a tight range over the past five months, as positive sentiment regarding the overall economy continued to offset cooling housing sentiment, …” $FNMA PR link.

The U of Michigan US Preliminary December 2018 Consumer Sentiment Index is at 97.5, November 2018 was at 97.5, October 201898.6, December 2017 95.9. “Consumer sentiment … has remained at very favorable levels since the start of 2017.” UMichigan PR link.

The Natl Retail Federation reports that monthly imports reach 2 million containers for first time as retailers continue rush to beat tariffs. NRF PR link.

***Thursday, December 6:

The November 2018 Snapshot 15 Summary:
The PBR1000 Top 5 by Market Capitalization(Rank, Company, PBR Ranking by Revenues, Stock Symbol, Market Capitalization in billions):

1. Microsoft(PBR22 $MSFT), $852B
2. Apple(PBR4 $AAPL), $849B
3. Amazon(PBR8 $AMZN), $827B
4. Alphabet(PBR21 $GOOG), $761B
5. Berkshire Hathaway(PBR3 $BRK.B), $539B

Range: $852 billion to $0.04 billion
The PBR1000 Total: $26.383 trillion, +3.38% from 10/31/18, +2.30% from 12/29/17, +21.53% from 12/30/16
Average: $26.383 billion
Median: $7.86 billion

To get all 15 Snapshots and 27 rankings on The PBR1000 go to the Subscribe page.

IBM(PBR34) to sell its collaboration and on-premise marketing and commerce software products to India based HCL Technologies for $1.8 billion, to close mid 2019. $IBM PR link.

General Dynamics(PBR89) authorizes an additional 10 million shares repurchase program, balance available is now 12.1 million shares. $GD PR link.

Sears(PBR169 $SHLD) gets $4.6 billion bid to be bought out by Sears Chairman Eddie Lampert’s hedge fund ESL Investments. MarketWatch PR link.

Lennar(PBR227) 1,300 associates $272.7 million in revenues in 2017 wholly owned subsidiary North American Title Group‘s underwriter and the majority of its retail title business to combine with Silicon Valley-based “insurtech” startup States Title that uses predictive analytics to underwrite the title on a property nearly instantaneously, Lennar to retain a minority interest, remaining part of NATG business to be named CalAtlantic Title. $LEN PR link.

VF Corp(PBR249) spin-off independent public company to be named Kontoor Brands, Inc, will hold VF’s Jeans(Wrangler® and Lee® brands)and VF Outlet businesses in the denim category, to be completed in 1H19. $VFC PR link.

NCR(PBR414) completes $5.05 share, around $184 million acquisition of Allentown, PA-based $63.4 million in revenue in 2018 JetPay (NASDAQ: JTPY), a provider of end-to-end payment processing and Human Capital Management solutions. $NCR PR link.

Arthur J Gallagher(PBR443) acquires Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers in the UK; all part of the Boston Marks Group, terms not disclosed. $AJG PR link.

Coca-Cola(PBR81) Chairman Muhtar Kent to retire in 04/19 after 41 years with the company, President/CEO James Quincy to become Chairman/CEO after 04/19 annual meeting. $KO PR link.

QEP Resources(PBR931)Chairman/President/CEO Chuck Stanley to retire effective 01/14/19, hires Tim Cutt to be President/CEO, Lead Independent Director David A. Trice to become Chairman. $QEP PR link.

Northrop Grumman(PBR109) elects Lucy C. Ryan as Corporate VP/Communications. $NOC PR link.

The US Federal Reserve Z1 Report says US 3Q18 Networth of Households/Non-Profits is at $109.039 trillion, +1.9% from 2Q18, +8.2% from 3Q17. USFed PR link.

The US Dept of Labor says US Revised 3Q18 Labor Productivity Output/Hour-All Personswas +1.9%, 2Q18 was +3.6%, 1Q18 +0.6%, 3Q17 +2.8%. USDOL PR link.

The US Dept of Commerce says the US October 2018 Total Exports were $211.1 billion, Total Imports $266.6 billion, Total Deficit $55.5 billion, October 2017 Total Deficit was $47.0 billion; US October 2018 YTD(10 months) Total Exports were $2.093 trillion, Total Imports$2.596 trillion, Total Deficit YTD $502.7 billion, October 2017 YTD Total Deficit was $451.2 billion. USDOC PR link.

The US Dept of Commerce/Census says US Preliminary October 2018 Manufacturing Durable Goods New Orders were at $249.0 billion, Non-Durable Goods $253.7 billion, Total Manufacturing New Orders $502.7 billion, -2.1% from September 2018, +6.9% from October 2018, Total Manufacturing New Orders YTD(10 months) were at $4.993 trillion, +7.5% from October 2017 YTD. USDOC PR link.

ADP(PBR217) says US Preliminary November 2018 Private Sector Employment grew by 179,000, -20.4% from October 2018, -10.5% from November 2017. 46,000 new jobs came from Small Businesses(1-49 employees), 119,000 from Mid Size Businesses(50-499 employees), and 13,000 from Large Businesses(500 or more employees); 16,000 jobs came from the Goods Producing Sector, and 163,000 jobs came from the Services Producing Sector. $ADP PR link.

The Institute for Supply Management says the US November 2018 Non-Manufacturing Index(>50 = Economy Growing) is at 60.7%, October 2018 was at 60.3%, September 201861.6%, November 2017 57.4%, “… represents continued growth in the non-manufacturing sector, at a slightly faster rate.” ISM PR link.

IHS Markit says the US November 2018 Composite PMI Output Index is at 54.7, October 2018 was at 54.9, September 201853.9, November 2017 54.5, “The
overall expansion in the US private sector was strong overall, despite slower rates of growth in both the manufacturing and service sectors.” IHS Markit PR link.

***Wednesday, December 5:

***A National Day of Mourning:
Remembering George HW Bush,
41st President of the United States.

US Stock Exchanges Closed,
US Federal Agencies Closed. ***

November 2018 Snapshot 13 Summary: The PBR1000 Top 5 Stock Performers since 12/30/16(23 months) (Rank, Company, PBR Ranking by Revenues, Stock Symbol, 11/30/18 Stock Price, % Increase from 12/30/16):

1. Square(PBR845 $SQ), $69.84, +412%
2. Weight Watchers(PBR974 $WTW), $50.02, +337%
3. Crocs(PBR1000 $CROX), $27.80, +305%
4. RH(PBR803 $RH), $116.14, +278%
5. BlueLinx(PBR895 $BXC), $27.10, +263%

Range: +412% to -96%
Number of Companies at 0% or Better:622/993
Average: +18.08%
Median: +9.02%
DJIA: +22.09%
NASDAQ: +36.18%
SPX: +23.29%

Tomorrow: The PBR1000 November 2018 Top 5 Stocks by Market Capitalization.

CVS Health(PBR7) introduces Guaranteed Net Cost pricing model incorporates rebates that simplifies the financial arrangements underlying Pharmacy Benefit Management contracts. $CVS PR link.

Alphabet(PBR21)’s Waymo unit now piloting its Waymo One commercial self-driving service. $GOOG PR link.

American Airlines(PBR63) launches its first-ever biometric boarding pilot program, a one-stop facial recognition scan, is at Los Angeles International Airport(LAX), 90 day pilot. $AAL PR link.

Facebook(PBR68) responds to Six4Three, creators of the Pikinis app, documents and emails mentioned in the British Parliamentinvestigation. A link to Mark Zuckerberg’s Facebook post is included at the bottom. $FB PR link.

Dollar General(PBR118) says that for the 52-week fiscal year ending 01/31/20 (“fiscal year 2019”), the Company plans to execute approximately 2,075 real estate projects, including 975 new store openings, 1,000 mature store remodels, and 100 store relocations. $DG PR link.

Qualcomm(PBR124) unveils newest generation in the 8 Mobile Platform Series, the Qualcomm® Snapdragon™ 855 Mobile Platform, world’s first commercial mobile platform supporting multi-gigabit 5G, industry-leading AI and immersive extended reality (XR) collectively. $QCOM PR link.

Icahn Enterprises(PBR128) completes sale of its majority owned railcar manufacturer subsidiary American Railcar Industries(NASDAQ: ARII) for $70.00/share, $1.75 billion, to ITE Management LP subsidiary ITE Rail Fund. $IEP PR link.

Icahn Enterprises(PBR128) selling its 77% stake in majority-owned subsidiary Ferrous Resources Limited to a wholly-owned subsidiary of Brazil based Vale SA, for around $550 million, includes debt, to close in 2019. $IEP PR link.

TravelCenters(PBR450) completes $330.8 million sale of its 225 convenience stores Minit Mart non-core business to EG Group. $TA PR link.

LAM Research(PBR520) CEO Martin Anstice resigns per continuing investigation into allegations of misconduct in the workplace and conduct inconsistent with the company’s core values, does not involve financial systems, gets no severance pay, President/COO Tim Archer named President/CEO effective immediately. $LRCX PR link.

Gannett(PBR691) President/CEO Robert J. Dickey to retire upon appoint of succcessor but no later than 05/07/19. $GCI PR link.

The US Federal Reserve releases the Beige Book, “Most of the twelve Federal Reserve Districts reported that their economies expanded at a modest or moderate pace from mid-October through late November, though both Dallas and Philadelphia noted slower growth compared with the prior Beige Book period.” USFed PR link.

FreddieMac(PBR38) says “… housing stock is well short of what the US needs … if supply continues to fall short of demand, home prices and rents are likely to outpace income and household formation will fail to reach potential.” $FMCC PR link.

***Tuesday, December 4:

The November 2018 Snapshot 12 Summary: The PBR1000 Top 5 YTD(11 months) Stock Performers (Rank, Company, PBR Ranking by Revenues, Stock Symbol, 11/30/18 Stock Price, % Increase from 12/29/17):

1. BlueLinx(PBR895 BXC), $27.10, +178%
2. Fossil(PBR738 $FOSL), $19.33, +149%
3. Crocs(PBR1000 $CROX), $27.80, +120%
4. SeaWorld(PBR982 $SEAS), $28.48, +110%
5. Genesis Healthcare(PBR486 $GEN), $1.59, +109%

Range: +178% to -91%
Number of Companies at 0% or Better:419/1,000
Average: -1.24%
Median: -4.47%
DJIA: +3.31%
NASDAQ: +6.19%
SPX: +3.24%

Tomorrow: The PBR1000 Top 5 Stock Performers Since 12/30/16(23 months).

Kroger(PBR18) to expand pilot of Kroger Express with 2,300 items in 13 N Kentucky Walgreens Boots Alliance(PBR19) stores, announces Home Chef Express meal kits, with each kit serving 2 at $8.50/serving, now available in 65 Chicago area Walgreens stores. $KR PR link.

Alphabet(PBR21 $GOOG)’s Google unit suspends China developed Cheetah, Kika apps over ad-fraud allegations. MarketWatch PR link.

Microsoft(PBR22) expanding its Microsoft Airband Initiative to make broadband available to 2 million people in rural areas to 3 million by 07/04/22. $MSFT PR link.

Northrop Grumman(PBR111) authorizes additional $3 billion for its share repurchase program, balance available is now $4.1 billion. $NOC PR link.

PACCAR(PBR150) authorizes new $500 million share repurchase program, to start upon completion of current $300 million authorization, which has $124.8 million available. $PCAR PR link.

Wellcare Health Plans(PBR166) completes acquisition of CVS Health(PBR7)’s Aetna 2 million members Medicare Part D unit, Aetna will provide administrative services to, and assume the financial risk of, the Aetna Part D plans through the end of plan year 2019, Wellcare to recognize revenue starting in 2020. $WCG PR link.

CarMax(PBR202) rollout of a new customer-driven buying experience launching first in Atlanta, GA, with plans to scale nationwide. For the first time, CarMax customers will have a choice as to how they want to buy a car – from home, in-store, or a seamless combination of both in less than 30 minutes. $KMX PR link.

MasterCard(PBR233) authorizes new up to $6.5 billion share repurchase program of its Class Astock, will be effective upon completion of current $4 billion authorization which has $470 million remaining. $MA PR link.

WellTower(PBR405) announces new off-market investment volume of $1.0 billion at a blended cap rate of 6.4% comprised of 11 separate Seniors Housing and Medical Officetransactions. $WELL PR link.

YUM!(PBR459)’s Pizza Hut subsidiary to acquire online ordering software and service provider for the restaurant industry QuikOrder, already used for 50% of Pizza Hut sales, in use for around 20 years, to close in 12/18, terms not disclosed. $YUM PR link.

Windstream(PBR461) achieves 500,000 seat milestone with its cloud-based communications solutions, a 20% increase year over year growth rate. $WIN PR link.

Pyxus(PBR894) joint venture, Criticality, an integrated N Carolina-based industrial hemp company operating under N Carolina’s industrial hemp pilot program, has launched “Korent,” its new line of cannabidiol (CBD) oil products. $PYX PR link.

Humana(PBR54) hires Vishal Agrawal, MD, as Chief Strategy and Corporate Development Officer, realigning its Care Delivery Organization under the leadership of CFO Brian Kane. $HUM PR link.

AIG(PBR57) promotes Mark D. Lyons to EVP/CFO, succeeds Sid Sankaran. $AIG PR link.

Sealed Air(PBR540) hires Angel Willis as VP/General Counsel and Secretary, effective 01/07/19. $SEE PR link.

CIT Group(PBR811) hires Robert Rubino as President/CIT Bank, N.A., the banking subsidiary of CIT, and head of Commercial Banking, effective 02/25/19. $CIT PR link.

The Purdue U/CME Group US November 2018 Ag Economy Barometer Composite Index(100=Unchanged) is at 134, October 2018 was at 136, September 2018 114, November 2017 128. “…producers still have a relatively optimistic view of the future … expressed concern about Congress’ failure to pass a new Farm Bill to replace the expired 2014 Farm Bill.” Purdue U/CME Group PR link.

***Monday, December 3:

The November 2018 Snapshot 11 Summary: The PBR1000 Top 5 Month Stock Performers(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 11/30/18 Stock Price, % Increase from 10/31/18):

1. Sears(PBR168 $SHLDQ), $0.34, +70%
2. Eastman Kodak(PBR945 $KODK, $3.94, +61%
3. Community Health(PBR153 $CYH), $4.75, +50%
4. Newell Brands(PBR196 $NWL, $23.40, +47%
5. Hertz Global(PBR323 $HTZ), $18.71, +36%

Range: +70% to -64%
Number of Companies at 0% or Better:647/1,000
Average: +2.81%
Median: +2.90%
DJIA: +1.68%
NASDAQ: +0.34%
SPX: +1.79%

Tomorrow: The PBR1000 Top 5 Stock Performers YTD.

ExxonMobil(PBR3) makes its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels. $XOM PR link.

Marriott Intl(PBR120 $MAR) pledges to pay for new passports if fraud has taken place per hack reported on 11/30/18. MarketWatch PR link.

Bristol-Myers Squibb(PBR139) to transfer $3.8 billion of US pension obligations through a full termination of its US Retirement Income Plan. $BMY PR link.

PPG(PBR193) will implement a 10% price increase on all of its industrial coatings products globally effective 01/01/19, cites unprecedented cost pressures. $PPG PR link.

Lennar(PBR227) completes sale of its Rialto Investment and Asset Management business to Stone Point Capital for $340 million. $LEN PR link.

Navistar(PBR332 $NAV) Defense unit to get 70% majority interest acquisition by Cerberus Capital Management, to close by end of 2018. http://bit.ly/NAVhl03Cerberus PR link.

Arthur J Gallagher(PBR441) acquires a 40% equity stake in Indonesian insurance broker and risk management services provider PT IBS Insurance Broking Service, as well as 100% of reinsurance broker, IBS Re Singapore, terms not disclosed. $AJG PR link.

Peabody Energy(PBR473) completes $400 million acquisition of Shoal Creek metallurgical coal mine from private coal producer Drummond Co, located on the Black Warrior River in Central Alabama, serves Asian and Europeansteel mills with high-vol A coking coal, sold 2.1 million tons in 2017. $BTU PR link.

Hub Group(PBR583) completes $255 million cash acquisition of 280 employees consolidation services to consumer packaged goods companies selling into the N American retail market and truck brokerage services provider CaseStack. $HUBG PR link.

FMC(PBR722) authorizes new $1 billion share buyback program, expects to be completed by mid 2020. $FMC PR link.

Trimble(PBR751) reinstates share repurchase program, was on temporarily on hold during Viewpoint acquisition, has about $392 million available. $TRMB PR link.

ResMed(PBR815) to acquire private Madison, WI, based digital therapeutics for people living with chronic obstructive pulmonary disease (COPD) and asthma provider Propeller Healthfor $225 million. $RMD PR link.

Crocs(PBR1000) to repurchase half of the outstanding Preferred Shares owned by Blackstone(PBR386), representing approximately 6.9 million common shares on an as-converted basis, for $183.7 million, or $26.64 per share. Blackstone will immediately convert its remaining Preferred Shares into approximately 6.9 million shares of the Company’s common stock and has agreed not to sell or transfer those shares to a third party for approximately nine months for which Crocs will pay Blackstone $15 million, Blackstone director nominations to move from two to one. $CROX PR link.

CenterPoint Energy(PBR297) President/CEO Scott M. Prochazka upon completion of $72/share, $6 billion acquisition of Vectren(PBR756) will be appointed to the same role for the combined company, other executives named, to close in 1Q19. $CNP PR link.

Deere & Co(PBR95) SVP/Power Systems, Worldwide Parts Services, Advanced Technology and Engineering, and Global Supply Management and Logistics Jean Gilles to retire after 38 years with Deere, effective 01/11/19, current executives named to add these responsibilities to their roles. $DE PR link.

Patterson Cos(PBR471) hires Tony Pellegrin as VP/Business Development, Mergers and Acquisitions. $PDCO PR link.

E*Trade(PBR811) promotes Chad Turner to CFO, will report to COO Mike Pizzi. $ETFC PR link.

Hexcel(PBR872) hires Colleen Pritchett as President/Aerospace, Americas. $HXL PR link.

The US Dept of Commerce/Census says US Preliminary October 2018 Total Residential Construction Spending Annual Rate was at $545.1 billion, Total Non-Residential Annual Rate at $763.8 billion, for Total Construction Spending Annual Rate of $1.309 trillion, -0.2% from September 2018, +4.9% from October 2017. USDOC PR link.

The Institute for Supply Management says The US November 2018 Manufacturing PMI Index(>50% economy is expanding) is at 59.3%, October 2018 was at 57.7%, September 2018 59.8%, November 2017 58.2%, “Comments from the panel reflect continued expanding business strength…” ISM PR link.

IHS Markit says the US November 2018 US Manufacturing PMI is at 55.3, October 2018was 55.7, September 2018 55.6, November 2017 53.9, “… survey data signalled a solid improvement in operating conditions across the U.S. manufacturing sector …” IHS Markit PR link.

MNI Indicators says the US November 2018 Chicago Business Barometer(>50 is gaining)is at 66.4, October 2018 58.4, September 201860.4, November 2017 63.9,
“Business activity recorded its most impressive performance so far this year in November, ending a three-month run of declines.” MNI Indicators PR link.

Automotive News says US November 2018 Number of New Light Vehicles Sold was at 1,392,244, -0.5% from November 2017, Average Transaction Price(per ALG) was $34,438, +1.7% from November 2017, YTD(11 months) Total Sold is at 15,695,288, +0.4% from November 2017, New Light Vehicles Sold Annual Rate is at 17,550,000. “U.S. light-vehicle sales slipped 0.5 percent in November as robust fleet shipments by some automakers failed to offset slumping demand for passenger cars.” Automotive News PR link.

***Friday, November 30:

The PBRMarketTools US Stock Exchanges Recap for the Week and Month Ending 11/30/18:

DJIA ends the week and month at 25,538.46, +5.16% from last Friday, +1.68% MTD, -3.48% QTD, +3.31% YTD, -4.81% from record 26,743.50 set 09/21/18.

NASDAQ ends the week and month at 7,330.54, +5.64% from last Friday, +0.34% MTD, -8.90% QTD, +6.19% YTD, -9.61% from record 8,109.69 set 08/29/18.

SPX ends the week and month at 2,760.16, +4.85% from last Friday, +1.79% MTD, -5.28% QTD, +3.24% YTD, -5.82% from record 2,930.75 set 09/20/18.

The Stock Market Bull returned with a vengence after the embarrassing loss last week to The Stock Market Bear, and more than made up for the difference. With a resounding 3-0 victory The Stock Market Bull wins both the week and month.

The Month 11 YTD tally is:
The Stock Market Bull: 6 months
The Stock Market Bear: 3 months
Mixed Results: 2 months

The Week 48 YTD tally is:
The Stock Market Bull: 20 weeks
The Stock Market Bear: 18 weeks
Mixed Results: 10 weeks

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PBRMarketTools.com provides news, data, and analysis on 1,000 of the largest publicly held companies with primary operations in the US. The data and analysis is included in The PBR1000 Monthly Snapshots, an MS-Excel workbook with 15 snapshot worksheets, 27 rankings, and over 200 fields of data and information on each company. Click here to find out more! 

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