The Global Market Place Was Very Active In February 2015! By Larry C. Paxton
February 2015 started out with a classic battle on the American football field with Super Box XLIX. The global market place also had many ongoing battles, and several of them have yet to be played out. The recent dramatic drop in oil prices continues to be a major driver. The Eurozone granted Greece a 4 month extension on its loans. The Ukraine/Russia ceasefire is fragile. The Middle East remains unsettled. In the US the government struggled over issues of the Keystone XL Pipeline. There was the funding of the Department of Homeland Security with or without some implications to President Obama’s immigration directives. The Federal Communications Commission approved some controversial net-neutrality regulations. Several major acquisitions were closed. Throughout it all some of the US stock exchanges reached new highs. Annual reports were submitted with mixed results. So, the battles continue. Let’s see what happens as we finish the first quarter of 2015!
Following are The PBR1000 and economic news items of note for February 2015 starting with the last active day.
Friday, February 27:
DJIA closes week at 18,132.70, -0.04%% from last Friday, +5.64% MTD, +1.74% QTD & YTD.
NASDAQ closes week at 4,963.53, +0.15% from last Friday, +7.08% MTD, +4.80% QTD & YTD.
SPX closes week at 2,104.50, -0.27% from last Friday, +5.49% MTD, +2.21% QTD & YTD.
Mylan(PBR360) completes $5.3 billion stock deal for acquisition of Abbott’s(PBR127) non-US developed markets specialty & branded generics business. MYL PR link.
Targa Resources(PBR377) completes $7.7 billion acquisition of Atlas Energy(PBR748). TRGP PR link.
Cooper-Standard(PBR654) acquires 95% of China based Huayu-Cooper Standard Sealing Systems, has 9 manufacturing facilities & 2 technical centers. CPS PR link.
Kroger(PBR25) SVP/Human Resources Katy Barclay retiring in the Fall of 2015, Timothy Massa will take over HR responsibilities. KR PR link.
Priceline(PBR365) promotes Paul Hennessy to become CEO of the priceline.com division on 04/01/15. CEO Chris Soder to become division Chairman. PCLN PR link.
The US Dept of Commerce in 2nd Estimate says 4th quarter Gross Domestic Product was at a 2.2% annual rate, $17.7 trillion. USDOC PR link.
Thursday, February 26:
Gap Inc(PBR168) approves $1 billion shares buyback program, adds to $7.25 billion repurchased since 2010. GPS PR link.
Catamaran Corp(PBR189) to acquire pharmacy benefit management client Healthcare Solutions for $405 million. CTRX PR link.
Ross Stores(PBR260) authorizes $1.4 billion shares buyback program through fiscal year 2016. ROST PR link.
Harley-Davidson(PBR417) to add Canada for direct distribution to independent dealers. HOG PR link.
Chico’s FAS(PBR748) to do a $250 million shares buyback program, open 40 new stores, close 120 existing stores, cut headcount by 12%. CHS PR link.
Hershey Co(PBR347) hires Patricia Little as SVP/CFO starting 03/16/15. HSY PR link.
Alaska Air(PBR459) hires Charles Breer as Managing Director of Alliances. ALK PR link.
FreddieMac(PBR33) says 30 year fixed mortgage rates for the week ending 02/26/15 averaged 3.80% with 0.6 points/fees. FM PR link.
The US Federal Communications Commission votes in favor of internet net-neutrality regulations. FCC PR link.
The US Dept of Labor reports that the January Consumer Price Index for All Urban Consumers (CPI-U) declined 0.7% in January on a seasonally adjusted basis, down 0.1% over the last 12 months before seasonal adjustment. USDOL PR link.
The US Dept of Labor reports that Real Earnings in January averaged $24.75/hour, 34.6 hours/week, $856.35 per week. USDOL PR link.
Wednesday, February 25:
Starwood Hotels(PBR405) announces partnership with rider service Uber for guests to earn Starpoints rewards. HOT PR link.
Frontier Communications(PBR497) gets strategic partnership to provide its internet subscribers TiVo(NASDAQ: TIVO) DVR services. FTR PR link.
SunEdison(PBR888) announces plan to electrify 20 million people by 2020 in underserved areas around the world. SUNE PR link.
McGraw Hill(PBR482) Chairman Terry McGraw not standing for re-election on 04/29/15, board proposes independent Director Ed Haldeman as non-Exec Chairman. MHFI PR link.
The US Dept of HUD reports preliminary January New Home Sales were at a 481,000 units annual rate with a $294,300 median price. HUD PR link.
Tuesday, February 24:
AmerisourceBergen(PBR16) completes acquisition of animal health distribution company MWI Veterinary Supply(PBR673) for $190/share, $2.5 billion. ABC PR link.
Comcast(PBR44) increases shares repurchase authorization to $10 billion, $4.25 billion allocated for 2015. CMCSA PR link.
HanesBrands(PBR505) to acquire seller of licensed collegiate logo apparel retailer Knights Apparel in deal valued at $200 million. HBI PR link.
Mondelez Intl(PBR85) hires Roberto Marques as EVP & President, North America, starting mid March. MDLZ PR link.
VMware(PBR454) hires Bask Iyer as SVP, Chief Information Officer, starting 03/23/15, will report to EVP/CFO/COO Jonathon Chadwick. VMW PR link.
Flowers Foods(PBR590) announces EVP Gene Lord is retiring 04/24/15 after almost 50 years of service. FLO PR link.
Charles River Labs(PBR1058) announces EVP/CFO Thomas Ackerman is retiring in 2016, SVP David Smith to be successor, other promotions announced. CRL PR link.
Monday, February 23:
Apple(PBR4) to build 100% renewable energy data centers in Ireland & Denmark for $2 billion. AAPL PR link.
Mondelez Intl(PBR85) announces $2 billion cash tender offer for certain notes. MDLZ PR link.
3M(PBR92) to acquire Polypore’s $210 million in revenues Separations Media business for $1 billion. MMM PR link.
American Airlines(PBR103) to sell its Telair Cargo Group to TransDigm(PBR798) for $725 million cash, expected to close by 05/31/15. AAL PR link.
Medtronic(PBR161) acquires private bladder control products company Advanced Uro-Solutions, terms not disclosed. MDT PR link.
Bristol-Myers Squibb(PBR165) to expand immuno-oncology pipeline by acquiring Flexus Biosciences for $1.25 billion. BMY PR link.
Baxter Intl(PBR179) says mid-2015 public spin-off biopharma Baxalta to locate headquarters in 260,000 sf facility in Bannockborn, IL. BAX PR link.
Keurig Green Mountain(PBR499) repurchasing 5.2 million shares from Luigi Lavazza SpA(NR) for $620 million. GMCR PR link.
Armstrong World(PBR717) to separate into 2 publicly held companies through spin-off of Flooring business to shareholders in 1st quarter 2016. AWI PR link.
Ocwen Financial(PBR881) selling $9.8 billion portfolio of mortgage servicing rights to Nationstar. OCN PR link.
Stifel Financial(PBR885) to expands wealth management/fixed income capabilities with acquisition of private Sterne Agee Group, transaction value around $150 million. SFN PR link.
DISH Network(PBR201) President/CEO Joseph Clayton to retire 03/31/15, Founder/Chairman Charles Ergen to add those roles. DISH PR link.
Darden Restaurants(PBR393) promotes Interim CEO Gene Lee to CEO & member of the board. DRI PR link.
JetBlue(PBR441) announces leadership EVP promotions for HR, Operations, other areas. JBLU PR link.
M&T Bank(PBR516) promotes Janet Coletti to EVP/Human Resources, succeeds Steve Braunscheidel who is retiring in 03/15. MTB PR link.
The National Association of Realtors reports that the January annual rate of sales of existing homes was at 4.82 million, down 4.9% from December. NAR PR link.
Friday, February 20:
DJIA closes week at 18,140.44(R), +0.67% from last Friday, +5.68% MTD, +1.78% QTD & YTD.
NASDAQ closes week at 4,955.97, +1.27% from last Friday, +6.92% MTD, +4.64% QTD & YTD.
SPX closes week at 2,110.30(R), +0.63% from last Friday, +5.78% MTD, +2.50% QTD & YTD.
Targa Resources(PBR377) acquisition of Atlas Energy(PBR748) for $7.7 billion approved by shareholders of both companies, expected to close 02/27/15. Targa PR link.
Energizer Holdings(PBR527) to spin-off Personal Care Division on 07/01/15 as a separate public company with the name Edgewell Personal Care(NYSE: EPC). Household Products Division to retain Energizer Holdings name and stock symbol. ENR PR link.
Thursday, February 19:
The Federal Trade Commission files a lawsuit against the proposed Sysco(PBR60) & US Foods(NR) merger, creates a foodservice distributor with 75% of the market. FTC PR link.
Ball Corp(PBR304) proposes to acquire UK based metal beverage can maker Rexam(LSE: REX) for $8.4 billion cash/stock. BLL PR link.
Priceline(PBR365) announces a $3 billion shares buyback program in its 4th Quarter/Full Year report. PCLN PR link.
LabCorp(PBR419) completes the $5.7 billion acquisition of Covance(PBR747). LH PR link.
Wednesday, February 18:
Citigroup(PBR26) announces $100 billion 10 year commitment to finance sustainable growth activities. C PR link.
Anthem(PBR40) completes acquisition of Florida 196,000 Medicaid/Medicare members company Simply Healthcare. Anthem PR link.
Actavis(PBR297) to take Allergan name after its $66 billion acquisition of Allergan(PBR392). Actavis PR link.
Crown Holdings(PBR298) completes acquisition of Monterrey, Mexico, 1500 employee, aluminum can/bottle manufacturer EMPAQUE from Heineken NV. CCK PR link.
Campbell Soup(PBR315) introducing cost savings program, to simplify organization structure, will save $200 million/year. CPB PR link.
Homebuilder NVR(PBR544) announces a $300 million shares buyback program. NVR PR link.
GEO Group(PBR991) completes acquisition of 8 correctional & dentention facilities with 6,500 beds from LCS Corrections Services for $312 million. GEO PR link.
Cubic Corp(PBR1008) combines two defense units into one $800 million revenues Cubic Global Defense segment, William Toti named president. CUB PR link.
Lockheed Martin(PBR62) promotes Rod Makoske to SVP/Corp Engineering, Tech, & Operations, also corporate officer; Keoki Jackson promoted to Chief Technology Officer. LMT PR link.
Flowserve(PBR477) SVP/CFO Mike Taff leaving 03/31/15, VP Malcolm Platt named interim CFO. FLS PR link.
Ciena Corp(PBR870) hires Marcus Starke SVP/Chiem Marketing Officer, reports to President/CEO Gary Smith. CIEN PR link.
The US Dept of Labor says the January Producer Price Index for Final Demand was -0.8%, was unchanged for the last 12 months USDOL PR link.
The US Dept of HUD reports that the January Privately-Owned Housing Starts were at a 1,065,000 annual rate, -2.0% from revised Dec estimate of 1,087,000. HUD PR link.
FreddieMac(PBR33) releases its February US Economic & Housing Market Outlook. FMCC PR link.
Tuesday, February 17:
DuPont(PBR83) sends letter to shareholders regarding its direction, responds to Trian Fund Mgmt letter. DD PR link.
Halliburton(PBR94) $34.6 billion acquisition of Baker Hughes(PBR124) to be voted on by shareholders of both companies on 03/27/15. HAL PR link.
Arrow Electronics(PBR129) acquires the United Technical Publishing division of Hearst Business Media(NR). ARW PR link.
Actavis(PBR297) receives temporary injunction for generic $1.1 billion market asthma treatment Pulmicort RESPULES. ACT PR link.
Boston Scientific(PBR349) to pay Johnson & Johnson(PBR39) $600 million for merger agreement breach in Guidant buy in 2006. BSX PR link.
Carlyle Group(PBR528) acquires controlling stake in global sports travel & event management company PrimeSport Holdings from Clearlake Capital(NR). CG PR link.
Fossil Group(PBR638) to design, develop & distribute Kate Spade(PBR1040) New York watches through 2025 through global licensing agreement. FOSL PR link.
Arthur J Gallagher(PBR647) acquires Phoenix, AZ, based private placement life insurance distributor Cohn Financial Group. AJG PR link.
Ford(PBR8) hires John Casesa as Group VP/Global Strategy, reports to President/CEO Mark Fields. F PR link.
Kraft Foods(PBR145) announces James Kehoe rejoining Kraft as EVP/CFO. KRFT PR link.
FirstEnergy(PBR187) announces Tony Alexander to resign as Executive Chairman on 04/30/15, director George Smart to return to his prior role as Chairman at that time. FE PR link.
Owens & Minor(PBR285) President/CEO James Bierman to retire upon election of a successor. OMI PR link.
Starwood Hotels(PBR405) President/CEO Frits van Paasschen resigns, director Adam Aron appointed Interim CEO. HOT PR link.
Alaska Air(PBR459) promotes Andrew Harrison to EVP/Chief Revenue Officer. ALK PR link.
SandRidge Energy(PBR892) hires Steve Turk as EVP/COO effective 03/02/15. SD PR link.
The Whitehouse reports that 11.4 million people have signed up for private health insurance under the Affordable Care Act. WH PR link.
Monday, February 16:
Presidents’ Day. US stock exchanges, most US federal, state, and local government offices are closed.
Mondelez Intl(PBR85) acquires private 40 product US snacking company Enjoy Life Foods, terms not disclosed. MDLZ PR link.
Ball Corp(PBR304) acquires 2 Canton, Ohio, area 100 employee metal end & closure facilities from Sonoco Products(PBR485). Ball PR link.
Crown Castle(PBR670) is exploring the sale of its wireless infrastructure Australian subsidiary. CCI PR link.
Friday, February 13:
DJIA closes week at 18,019.35, +1.09%% from last Friday, +4.98% MTD, +1.10% QTD & YTD.
NASDAQ closes week at 4,893.84, +3.15% from last Friday, +5.58% MTD, +3.33% QTD & YTD.
SPX closes week at 2,096.99(R), +2.02%% from last Friday, +5.11% MTD, +1.85% QTD & YTD.
American International Group(PBR41) authorizes $2.5 billion shares buyback program, repurchased $4.9 billion in 2014. AIG PR link.
Enterprise Products(PBR56) completes $5.9 billion acquisition of Oiltanking Properties, to operate as a wholly owned subsidiary. EPD PR link.
Actavis(PBR297) to divest its outsourcing/R&D unit Aptalis Pharmaceutical Technologies to private investment firm TPG. Actavis PR link.
Heartland Payment Systems(PBR859) has acquired POS companies Dinerware & pcAmerica, adds to previous POS acquisitions. HPY PR link.
General Dynamics(PBR91) appoints L Flynn EVP Aerospace Group, M Burns president of Gulfstream, M A Gilliland EVP HR/Admin, various effective dates. GD PR link.
Avery Dennison(PBR402) hires Anne Bramman as SVP/CFO. AVY PR link.
Thursday, February 12:
American Express(PBR86) announces co-brand & merchant acceptance agreements with Costco(PBR18) to expire 03/31/16. AMEX PR link.
Anixter(PBR398) to sell its OEM Supply-Fasteners segment to American Industrial Partners(NR) for $380 million cash. Anixter PR link.
Expedia(PBR496) to acquire global online travel company Orbitz Worldwide(NYSE: OWW) for $12/share, $1.6 billion cash. Expedia PR link.
Energen(PBR941) allocating $1 billion for drilling & development in 2015, selling majority of San Juan Gas assets for $395 million. Energen PR link.
Kraft Foods(PBR145) promotes George Zoghbi to COO, Chris Kempczinsk to EVP, Growth Incentives & President, International; CFO, CMO, & EVP R & D departing. Kraft PR link.
ConAgra Foods(PBR149) names former Hillshire Brands president/CEO Sean Connolly as its next CEO, effective 04/06/15, to succeed retiring CEO Gary Rodkin. ConAgra PR link.
The US Dept of Commerce in advance report says January 2014 retail & food services was at $439.8 billion, up $14.2 billion from January 2013. USDOC PR link.
The US Dept of Labor reports that for the week ending 01/31/15 the total insured unemployment was at 2,354,000, 1.8% insured unemloyment rate. USDOL PR link.
Wednesday, February 11:
Rite Aid(PBR108) to acquire independent pharmacy benefit manager EnvisionRx for $2 billion. Rite Aid PR link.
Arrow Electronics(PBR129) to acquire Taiwan based $500 million/yr Asian electronic component distributor ATM Electronic Corp. AE PR link.
Corinthian Colleges(PBR974) receives suspension/delisting notice from NASDAQ, to be effective 02/17/15, for failure to file annual 10-K report on a timely basis. CC PR link.
CSX(PBR224) promotes Oscar Munoz to President, retains COO title. Cindy Sanborn promoted to EVP-Operations, reports to Munoz. CSX PR link.
Alaska Air(PBR459) appoints Jay Gupta Managing Director of Infrastructure & Modern Platforms in IT Services division, oversees data, call centers. Alaska Air PR link.
Ascena Retail(PBR493) promotes SVP Financial Planning & Analysis Robb Giamatteo to CFO. Ascena PR link.
Amkor Technology(PBR676) appoints Dr. Choon Heung Lee EVP Worldwide Manufacturing Operations, succeeds retiring JooHo Kim, reports to President/CEO Steve Kelley. Amkor PR link.
Louisiana-Pacific Corp(PBR869) makes several changes in executive leadership effective 03/01/15, including sales & marketing. L-P PR link.
The US Dept of Treasury reports January receipts of $307.6 billion, outlays of $324.3 billion, deficit of $17.5 billion, fiscal YTD deficit of $194.2 billion. USDOTr PR link.
Tuesday, February 10:
First Solar(PBR628) announces Apple(PBR4) has committed to a $848 million, 25 year, 130 megawatt solar power purchase deal. FS PR link.
International Game Technology(PBR876) stockholders approve $6.4 billion acquisition led by Italian based GTECH. IGT PR link.
Home Depot(PBR35) is filling more than 80,000 positions for the spring season. HD PR link.
The US Dept of Commerce preliminary report says that December 2014 wholesalers sales were $449.8 billion, -0.4% from November, but +1.4% from December 2013. USDOC PR link.
The US Dept of Labor reports that there were 5.0 million job openings on the last business day of December(4.8 million in November), the highest level since January 2001. USDOL PR link.
Monday, February 9:
General Dynamics(PBR91) authorizes repurchase of up to 10 million shares on the open market. GD PR link.
Federal-Mogul(NASDAQ: FDML) completes $385 million acquisition of the TRW Automotive(PBR154) German based 4,000 employee engine valve business. F-M PR link.
Alliant Techsystems(PBR494) completes spin-off of its Sporting Goods business as Vista Outdoor, which will start trading on 02/10/15 as NYSE: VSTO, then completes merger with Orbital Sciences(PBR1019), renamed Orbital ATK, to start trading as NYSE: OA on 02/10/15. Orbital ATK PR link.
Alcoa(PBR122) names Nahla Azmy VP/Investor Relations, appoints Kelly Pasterick VP Global Financial Processes, Global Primary Products. Alcoa PR link.
BlackRock(PBR262) appoints Deborah Winshell as Managing Director/Global Impact Investing, for social/environmental causes, will also oversee global philanthropy program. BlackRock PR link.
The Andersons(PBR428) Grain Group President Denny Addis retiring in May, Ethanol Group President Neill McKinstray to assume leadership over both groups. The Andersons PR link.
Aeropostale(PBR868) EVP/CFO Marc Miller becoming COO, David Dick joining as SVP/CFO on 02/17/15. Aeropostale PR link.
Avista Corp(PBR973) names Kevin Christie VP of Customer Solutions, retains external communications, community outreach, philanthropy and other responsibilities. Avista PR link.
CBL & Assoc(PBR1082) names appointments for director of accounting, SVP planning/redevelopment, VP shared services, VP development/redevelopment, VP development. CBL PR link.
Friday, February 6:
DJIA closes week at 17,824.29, +3.84%% from last Friday & MTD, +0.01% QTD & YTD.
NASDAQ closes week at 4,744.40, +2.36% from last Friday & MTD, +0.18% QTD & YTD.
SPX closes week at 2,055.47, +3.03%% from last Friday & MTD, -0.17% QTD & YTD.
The Pantry(PBR331) sets 03/10/15 for special shareholders meeting to vote on acquisition by Quebec, Canada based Alimentation Couche-Tard for $36.25/share, $1.7 billion deal. Pantry PR link.
Harris Corp(PBR469) to buy global aerospace, defense, information & other technologies Exelis(NYSE: XLS) for $23.75/share, $4.75 billion. Harris PR link.
Cablevision(PBR397) president Brian Sweeney to also become CFO on 03/01/15, report to CEO James Dolan. Cablevision PR link.
The US Dept of Labor reports that total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate was little changed at 5.7%. USDOL PR link.
The US Federal Reserve reports that December consumer credit increased at an annual rate of 5-1/2%. FRB PR link.
Standard & Poor’s lowers Greece Long-Term Rating from ‘B’ to ‘B-‘, kept on CreditWatch negative. S&P PR link.
Thursday, February 5:
Verizon(PBR15) announces $15.54 billion in deals with Frontier Communications(PBR497) & American Tower(PBR625), authorizes $5 billion shares buyback program. Verizon PR link.
Anthem(PBR40) confirms patient records were hacked, CEO statement. Anthem PR link.
Actavis(PBR297) to divest rights to branded respiratory portfolio in US/Canada to AstraZeneca for $600+ million. Actavis PR link.
RadioShack(PBR619) reaches asset purchase agreement for affiliate of Standard General to acquire up to 2,400 stores, also filing for Chapter 11 bankruptcy. RadioShack PR link.
W.R. Grace(PBR657) to split into 2 independent public companies to be named later, Catalyst & Materials Technologies, and Construction Products & Darex packaging. WRG PR link.
Brocade Communication(PBR836) to acquire assets of Riverbed Technology(PBR1085). Brocade PR link.
Greenbrier Cos(PBR839) appoints Brad Skinner as SVP, Business Development, other appointments mentioned. GreenbrierPR link.
Brown & Brown(PBR1020) hires B Carl Owen as CIO, reports to EVP/CFO R Andrew Watts. B&BPR link.
The US Dept of Commerce reports that the international trade of goods & services deficit was $46.6 billion in December, up $6.8 billion from November. USDOC PR link.
FreddieMac(PBR33) reports that the average 30 year fixed mortgage rate ending 02/05/15 was 3.59% with 0.7 fees/points. FreddieMac PR link.
The US Dept of Labor reports that annual nonfarm labor average productivity increased 0.8% from 2013 to 2014. USDOL PR link.
Wednesday, February 4:
Staples(PBR120) to acquire Office Depot(PBR235) in $6.3 billion cash/stock deal. OD PR link.
GNC(PBR739) agrees to NY Attorney General request to halt sales of certain herbal supplements, stands behind product quality. GNC PR link.
Under Armour(PBR809) has acquired 20 million user mobile sports tracking Denmark based Endomondo for $85 million cash, to acquire 80 million online user health goals US based MyFitnessPal for $475 million. UA PR link.
Caesars Entertainment(PBR301) announces Mark Frissora joining as CEO designee, to become CEO on 07/01/15. CE PR link.
Harley-Davidson(PBR417) names President/COO Matt Levatich to become President/CEO after retirement of Keith Wandell on 05/01/15. H-D PR link.
ADP(PBR220) reports that there were 213,000 new private sector jobs in January, down from 253,000 in December. ADP PR link.
FreddieMac(PBR33) reports that borrowers who refinanced in 2014 to save net $5 billion in interest over 1st 12 mos compared to $20 billion in 2013. FreddieMac PR link.
Tuesday, February 3:
Auto Industry Update:
GM US January sales were 202,786 vehicles, up 18% over last year. PR link
Ford US January sales were 178,351 vehicles, up 15% over last year. PR link
Fiat Chrysler US January sales were 145,007 vehicles, up 14% over last year. PR link .
Ford(PBR8) hiring 1,550 for F-150 plants. Ford PR link.
Archer-Daniels-Midland(PBR28) to sell 50% stake in Northern Brazil export terminal, to quadruple capacity. ADM PR link.
Macy’s(PBR97) to acquire luxury beauty products & spa services retailer Bluemercury for $210 million cash. Click here for the Macy’s press release.
JM Smucker(PBR427) to acquire 2,500 employee pet food & snacks producer Big Heart Pet Brands for $5.8 billion cash/stock, includes $2.6 billion debt. Click here for the JMS press release.
FMC Corp(PBR578) selling its Alkali Chemicals business to Tronox(PBR907) for $1.64 billion. FMC PR link.
Wendy’s(PBR777) to sell 500 corp restaurants to franchisees, open 1,000 new restaurants by 2020. Wendy’s PR link.
Macy’s(PBR97) announces several senior executive changes & appointments to deepen focus on omnichannel profitable sales growth. Click here for the Macy’s press release.
SunEdison(PBR888) appoints Paul Gaynor, former First Wind CEO, as EVP N American Utility & Global Wind. SunEdison PR link.
The NY Attorney General asks major retailers to halt sales of certain herbal supplements, DNA tests fail to confirm listed active ingredients. NYAG PR link.
The US Dept of Commerce reports that new orders for manufactured goods in December were down 5 consecutive mos, decreased $16.4 billion, -3.4%, to $471.5 billion. USDOC PR link.
Monday, February 2:
Sysco(PBR60) to sell 11 US food distribution centers to Performance Food Group, contingent on successful Sysco-US Foods merger. Click here for the Sysco press release.
Mylan(PBR360) to acquire certain female healthcare businesses from India based Famy Care for up to $800 million. Mylan PR link.
Kindred Healthcare(PBR481) completes $1.8 billion acquisition of Gentiva Health(PBR944). KND PR link.
FMC Corp(PBR578) acquires global rights for new broadleaf weed herbicide from Japan based Kumiai Chemical. FMC PR link.
Arthur J Gallagher(PBR647) acquires specialty insurance broker Aequus Trade Credit. AJG PR link.
Cerner(PBR687) completes acquisition of Siemens Health Services for $1.3 billion cash. Cerner PR link.
Intuitive Surgical(PBR829) approves an up to $1 billion shares buyback program. Click here for the IS press release.
AvalonBay Communities(PBR1001) buys 22.5ksf site at 1865 Broadway from American Bible Society for $300 million, will develop 300ksf residential/retail facility. ABC PR link.
Chevron(PBR3) promotes Jeanette Ourada to Corporate VP/Comptroller effective 04/01/15, upon retirement of Matt Foehr. Chevron PR link.
VISA(PBR212) appoints Vasant Prahbu as CFO effective 02/09/15, succeeds Byron Pollitt who is retiring. VISA PR link.
Dick’s Sporting Goods(PBR400) appoints CFO Andre Hawaux to additional role of COO. DSG PR link.
Cincinnati Financial(PBR517) lists promotions & new appointments of subsidiary companies directors, officers & general counsel. CF PR link.
CA Technologies(PBR520) hires Michael Bisignano as EVP/General Counsel, reports to CEO Mike Gregoire. CA PR link.
Lands’ End(PBR984) CEO Edgar Huber to retire on 02/17/15, Federica Marchionni to become CEO. Click here for the LE press release.
The US Dept of Commerce reports that personal income was up $41.3 billion, 0.3%, & disposable personal income up $35.8 billion, 0.3%, in December. USDOC PR link.
The US Dept of Commerce reports that December construction spending is estimated at an annual rate of $982.1 billion, 0.4% above November, 2.2% above December 2013. USDOC PR link.
Sunday, February 1:
The PBR1000: The January 2015 Breaking News Recap is available. Click here for the blog post.
Super Bowl XLIX Final:
New England Patriots 28, Seattle Seahawks 24.
Most Valuable Player:
Quarterback Tom Brady
Played at:
University of Phoenix Stadium,
Glendale, Arizona
Protective Life(PBR572) acquisition by Japan based Dai-ichi Life Insurance Company, Limited (TSE: 8750) for $70.00/share, $5.7 billion cash has been completed. PL PR link.
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