January 2015 Was Difficult. What’s Next?
By Larry C. Paxton
The recent dramatic changes in world oil policies, resulting significant drop in oil prices, continued uncertainty about foreign economies and politics(i.e., the election of the leftest anti-austerity party in Greece, the unlinking of the Swiss Franc from the Euro), and corporate quarterly and annual reports that are starting to come in with mixed results, are just some of the causes for the markets to fluctuate wildly throughout January 2015. A common word heard towards the end of the month by many professionals is that the markets are currently directionless.
But January 2015 is now behind us. February starts with Super Bowl XLIX, and hopefully a new year reset.
Following are the January 2015 Breaking News items, from the latest date to the first:
Friday, January 30:
DJIA closes week at 17,164.95, -2.87% from last Friday, -3.69% MTD, QTD, & YTD.
NASDAQ closes week at 4,635.24, -2.58% from last Friday, -2.13% MTD, QTD, & YTD.
SPX closes week at 1,994.99, -2.77% from last Friday, -3.10% MTD, QTD, & YTD.
Chevron(PBR3) announces 2015 $35 billion capital/exploratory budget, 13% less than 2014. Click here for the Chevron press release.
Johnson & Johnson(PBR39) Janssen unit gets FDA approval for adult HIV-1 treatment PREZCOBIX(TM). Click here for the J&J press release.
Safeway(PBR84) $9 billion acquisition by privately held Albertsons has closed, Safeway delisted from NYSE. Click here for the Safeway press release.
CME Group(PBR680) & trading technologies provider GFI Group terminate merger talks following GFI stockholders no vote. Click here for the CME press release.
HCA(PBR76) promotes operations president Sam Hazen to COO. Click here for the HCA press release.
Donaldson Co(PBR780) to promote COO Tod Carpenter to President/CEO on 04/01/15. Click here for the Donaldson press release.
The US Dept of Commerce reports in its advance report that the 4th quarter 2014 GDP annual rate was 2.6%, $17,710.7 billion, down from 5.0% in the 3rd quarter. Click here for the USDOC press release.
The US Dept of Labor reports that compensation costs for civilian workers increased 2.2% for the 12-mo period ending December 2014, was up 2.0% in 2013. Click here for the USDOL press release.
Thursday, January 29:
Bristol-Myers Squibb(PBR165) gets FDA approval for Evotaz for adult HIV-1 infections. Click here for the BMS press release.
VISA(PBR212) in 4th quarter report announces 4:1 stock split effective 03/19/15. Click here for the VISA press release.
Campbell Soup(PBR315) to restructure into 3 product divisions, division presidents named. Click here for the Campbell’s press release.
Hershey Co(PBR347) to acquire $35 million/yr meat jerky manufacturer KRAVE Pure Foods. Click here for the Hershey press release.
Mylan(PBR360) shareholders approve $5.3 billion stock deal for acquisition of Abbott’s(PBR127) non-US developed markets specialty & branded generics business; new public Mylan company to be formed in The Netherlands with current leadership. Click here for the Mylan press release.
Manitowoc(PBR566) to split into two independent companies, Cranes lifting equipment with $2.3 billion sales in 2014, & Foodservices with $1.2 billion sales in 2014, by 1st quarter 2016. Click here for the Manitowoc press release.
Endo Health(PBR741) completes $2.6 billion acquisition of men’s healthcare products developer Auxilium Pharmaceutical. Click here for the EH press release.
SunEdison(PBR888) & former subsidiary TerraForm complete $2.4 billion acquisition of wind projects developer & operator First Wind. Click here for the SunEdison press release.
Kate Spade(PBR1040) to close the 19 Kate Spade Saturday stores, reorganize Jake Spade brand. Click here for the KS press release.
Gap Inc(PBR168) promotes Scott Key as SVP, President/GM of Customer Experience, eliminates creative-director role. Click here for the Gap press release.
CenterPoint Energy(PBR321) CFO Gary Whitlock retiring, William Rogers to become CFO 03/03/15. Click here for the CPE press release.
DSW(PBR801) announces EVP promotions for COO, Chief Admin, Chief Innovation, & Chief Supply Officers. Click here for the DSW press release.
FreddieMac(PBR33) reports for 01/29/15 the average 30 year fixed rate mortgage is 3.66% with 0.6 points. Click here for the FreddieMac press release.
The Nationall Retail Federation estimates Super Bowl XLIX to have 184 million viewers, will spend $14.3 billion for the event. Click here for the NRF press release.
Wednesday, January 28:
HanesBrands(PBR505) sets 4:1 stock split for 03/04/15. Click here for the HanesBrands press release.
Adobe Systems(PBR565) completes $800 million acquisition of private photos & images website Fotolia from KKR(PBR272). Click here for the Adobe press release.
Citrix(PBR685) to restructure, eliminate 900 employee/contractor positions. Click here for the Citrix press release.
McDonald’s(PBR96) President/CEO Don Thompson to retire on 03/01/15, SVP/Chief Brand Officer Steve Easterbrook to become President/CEO. Click here for the McDonald’s press release.
Avon(PBR267) appoints James Scully as EVP/CFO, formerly J. Crew COO, reports to Pres/CEO Sheri McCoy, by 04/01/15. Click here for the Avon press release.
The US Dept of Labor reports that the union membership rate in private industry was 6.6% in 2014; public sector 35.7%. Click here for the USDOL press release.
The US Dept of Labor reports that In the 2nd quarter of 2014, gross job gains from opening and expanding private sector establishments were 7.4 million. Gross job losses from closing and contracting private sector establishments were 6.5 million. Click here for the USDOL press release.
The US Federal Open Market Committee in its 01/28/15 report states that economic activity has been expanding at a solid pace. Click here for the FOMC report.
Tuesday, January 27:
Apple(PBR4) reports record results in 1st quarter, sold 74.5 million iPhones. Click here for the Apple press release.
Safeway(PBR84) acquisition by privately held Albertsons gets FTC approval, expected to close within 5 days. Click here for the Safeway press release.
Yahoo!(PBR500) announces plan for tax-free spin-off of remaining stake in Alibaba Group. Click here for the Apple press release.
Alliant Techsystems(PBR494) & Orbital Sciences(PBR1019) stockholders approve merger, to be called Orbital ATK, trade under NYSE: OA starting 02/10/15. Click here for the Orbital press release.
Alaska Air(PBR459) appoints former Starbucks(PBR164) executive Sangita Woerner as VP of Marketing. Click here for the Alaska Air press release.
Cooper-Standard(PBR654) promotes Allen Campbell to EVP/Chief Infrastructure Officer, hires Matthew Hardt to become EVP/CFO. Click here for the C-S press release.
Ferrellgas(PBR791) EVP/CFO Ryan VanWinkle resigns, SVP/Finance & Investor Relations Alan Heitman to be CFO until new search completed. Click here for the Ferrellgas press release.
The US Dept of HUD reports that the annual sales rate of new single family homes in December was 481,000, median price $298,100, average price $377,800. Click here for the HUD press release.
The US Dept of HHS reports that 9.5 million people are signed up for the Health Insurance Marketplace coverage. Click here for the HHS press release.
Monday, January 26:
Medtronic(PBR161) gets approval of Ireland High Court to complete $49.2 billion acquisition of Covidien, expected to close today, Medtronic & Covidien to be wholly owned subsidiaries of Ireland based Medtronic plc. Click here for the Medtronic press release.
Carnival Corp(PBR176) & China Merchants Group to explore 2 joint ventures to expand cruise industry in China. Click here for the Carnival press release.
Actavis(PBR297) pending $66 billion acquisition of Allergan(PBR392) gets SEC approval, special stockholders meetings for both companies to approve are set for 03/10/15. Click here for the Actavis press release.
Actavis(PBR297) to become UK’s #1 provider of generic drugs with acquisition of Auden McKenzie for 306 million GBP. Click here for the Actavis press release.
MeadWestvaco(PBR447) & Rock-Tenn(PBR(PBR268) agree to stock/swap merger to create $16 billion equity valued global consumer & corrugated packaging company. Click here for the MWV press release.
NII Holdings(PBR495) is selling its Nextel Mexico operations to AT&T(PBR12) for $1.875 billion, expected to close mid-2015. Click here for the NIIH press release.
GEO Group(PBR991) buys 8 correctional/detention facilities with 6,500 beds from private LCS Corrections Services for $312 million. Click here for the GEO press release.
CNA Financial(PBR263) appoints Rocco Orlando as SVP/Sales & Distribution. Click here for the CNA press release.
Charter Communications(PBR320) promotes Rich DiGeronimo to EVP/Product & Strategy, reports to COO John Bickham. Click here for the CC press release.
Mattel(PBR383) Chairman/CEO Bryan Stockton resigns, independent board member Christopher Sinclair named Chairman/Interim CEO. Click here for the Mattel press release.
Citrix(PBR685) appoints Robson Grieve as SVP/Marketing, reports to President/CEO Mark Templeton. Click here for the Citrix press release.
The Congressional Budget Office reports that the federal budget deficit to be steady relative to the size of economy through 2018, then projected to increase through 2025. Click here for the CBO press release.
Sunday, January 25:
Greece: The Greece general elections take place, leftest anti-austerity party Syriza gets the most votes. Click here for the Greek Reporter results article.
Friday, January 23:
DJIA closes week at 17,672.60, +0.92% from last Friday, -.84% MTD, QTD, & YTD.
NASDAQ closes week at 4,757.88, +2.66% from last Friday, +0.46% MTD, QTD, & YTD.
SPX closes week at 2,051.82, +1.60% from last Friday, -0.34% MTD, QTD, & YTD.
Deere & Co(PBR77) laying off indefinitely 910 workers from 5 Iowa & Illinois facilities. Click here for the Deere press release.
Expedia(PBR496) acquires Travelocity from Sabre Corp(NASDAQ: SABR) for $280 million cash. Click here for the Expedia press release.
Flowers Foods(PBR590) promotes Robert Benton, Jr. to SVP/Chief Manufacturing Officer; Michael Beatty, EVP/Supply Chain, retiring in Spring 2015. Click here for the FF press release.
The US Dept of Labor reports that the number of US union wage/salary workers at the end of 2014 was 14.6 million, 11.1% of the workforce, -0.2% from 2013. Click here for the USDOL press release.
The National Association of Realtors reports that December existing home sales annual rate was at 5.04 million, that 2014 total sales were down 3.1% from 2013. Click here for the NAR press release.
Thursday, January 22:
Family Dollar(PBR252) stockholders vote yes for $9.2 billion merger with Dollar Tree(PBR329). Click here for the FD press release.
Dollar General(PBR153) announces Rick Dreiling to continue as chairman/CEO through 01/16, comments on failed Family Dollar(252) bid. Click here for the DG press release.
KKR(PBR272) acquires leading UK rail tickets online retailer 4.7 million active clients Trainline, terms not disclosed. Click here for the KKR press release.
Harman Intl(PBR448) to acquire private 8,000 employee $370 million/year software services company Symphony Teleca. Click here for the Harman press release.
Harman Intl(PBR448) has acquired Israeli-based over-the-air technologies firm Red Bend Software for $170 million stock/cash. Click here for the Harman press release.
E*Trade(PBR947) receives regulatory approval to operate E*Trade Bank as a 9.0 percent Tier 1 financial unit. Click here for the E*Trade press release.
City National Corp(PBR1045) to be acquired by Royal Bank of Canada for $93.50/share, $5.4 billion cash & stock. Click here for the CNC press release.
Starbucks(PBR164) appoints board member Kevin Johnson to also be president/COO in charge of global operations, effective 03/01/15. Click here for the Starbucks press release.
Ball Corp(PBR304) names Mike Gazarik, PhD, Office of Technology Director, effective 03/02/15. Click here for the Ball press release.
The US Dept of Labor says in advance report that for the week ending 01/17/15 initial job claims was 307,000, -10,000 from the previous week. The 4 week moving average was 306,500. Click here for the USDOL press release.
European Central Bank to start bonds buying program for price stability, 60 billion Euros/mo through at least September 2016. Click here for the ECB press release.
Christian Science Monitor reports Saudi Arabia’s King Abdullah has died, successor is half-brother Prince Salman. Click here for the CSM press release.
Wednesday, January 21:
Merck(PBR63) completes $102/share tender offer of antibiotics developer & marketer Cubist Pharmaceuticals(NASDAQ: CBST). Click here for the Merck press release.
Kinder Morgan(PBR198) to acquire Hiland Partners & its midstream oil/gas assets in N Dakota/Montana Bakken area for $3 billion. Click here for the KM press release.
AMSURG(PBR1077) Sheridan unit acquiring national 100+ radiology group Radisphere, terms not disclosed. Click here for the AMSURG press release.
Cummins(PBR157) names Tony Satterthwaite to President, Distribution Business. Click here for the Cummins press release.
Kinder Morgan(PBR198) in its dividend announcement mentions that CEO Rich Kinder to become executive chairman, Steve Kean to become CEO on 06/01/15. Click here for the KM press release.
The US Dept of HUD reports that privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,032,000. This is 1.9 percent (±1.3%) below the revised November rate of 1,052,000, but is 1.0 percent (±1.1%)* above the December 2013 estimate. Click here for the HUD press release.
Tuesday, January 20:
US President Obama gives his 6th State of the Union Address to Congress. Click here for the White House press release.
AIG(PBR41) to acquire Ireland’s 2nd largest health insurance provider, Laya Healthcare, terms not disclosed. Click here for the AIG press release.
Spectrum Brands(PBR529) acquires private $100 million/yr Salix Animal Health, world’s largest vertically integrated rawhide dog treats company. Click here for the SB press release.
Cabot(PBR600) realigning into 4 business segments. Click here for the Cabot press release.
Clean Harbors(PBR608) to carve out Oil & Gas Field Services segment as a standalone public company; Eric Gerstenburg appointed COO, other leadership promotions mentioned. Click here for the CH press release.
First Solar(PBR628) announces it is the first thin film photovoltaic module manufacturer to achieve 10 gigawatts of installed power. Click here for the FS press release.
CME Group(PBR680) ups offer from $5.60 to $5.85/share for trading technologies provider GFI Group. Click here for the CME press release.
Albemarle(PBR742) announces realignment of global business units, executive leadership. Click here for the Albemarle press release.
Specialty apparel retailer Express(PBR854) acquisition by Sycamore Partners discussions terminated due to unavailability of financing. Click here for the Express press release.
Cummins(PBR157) Distribution Business unit President Pamela Carter retiring on 04/01/15. Click here for the Cummins press release.
Bristol-Myers Squibb(PBR165) CEO Lamberto Andreotti to become executive chairman on 05/05/15, COO Giovanni Caforio, MD, to become CEO. Click here for the BMS press release.
Apache Corp(PBR169) chairman/president/CEO Steven Farris retires effective immediately, EVP/COO No. America John Christman IV named president/CEO. Click here for the Apache press release.
Barnes & Noble(PBR388) Retail Group CEO Mitchell Klipper to retire 05/02/15, then be a special advisor. Click here for the BN press release.
Bon-Ton Stores(PBR704) CFO Keith Plowman to retire in 08/15, national search to start. Click here for the BTS press release.
Hologic(PBR761) announces John Griffin joining as general counsel, Allison Bebo as SVP, human resources. Click here for the Hologic press release.
Outerwall(PBR816) CEO Scott Di Valerio steps down, director Nora Denzel appointed Interim CEO. Click here for the Outerwall press release.
Nortek(PBR822) names Liam Weston as Chief Human Resources Officer. Click here for the Nortek press release.
Equifax(PBR817) reports December auto loan balances were at $975 billion, representing 33.2% of non-mortgage consumer debt. Click here for the Equifax press release.
Monday, January 19:
US Stock Exchanges Closed.
Dr. Martin Luther King, Jr. Day Observed.
“An individual has not started living until he can rise above the narrow confines of his individualistic concerns to the broader concerns of all humanity.”
Friday, January 16:
DJIA closes week at 17,511.57, -1.27% from last Friday, -1.75% MTD, QTD, & YTD.
NASDAQ closes week at 4,634.38, -1.48% from last Friday, -2.15% MTD, QTD, & YTD.
SPX closes week at 2,019.42, -1.24% from last Friday, -1.92% MTD, QTD, & YTD.
AT&T(PBR12) closes on acquisition of Mexico 9.2 million subscriber wireless provider lusacell for $2.5 billion. Click here for the AT&T press release.
Estee Lauder(PBR242) completes acquisition of Hollywood skincare brand GLAMGLOW. Click here for the EL press release.
CBRE Group(PBR346) acquires Dallas, TX, based 100 employee United Commercial Realty, terms not disclosed. Click here for the CBRE press release.
Regal Entertainment(PBR663) decides sale of the company not in its best interest at this time. Click here for the RE press release.
Ventas(PBR707) completes acquisition of American Realty Capital Healthcare Trust(NASDAQ: HCT) for $2.6 billion cash/stock. Click here for the Ventas press release.
Home Depot(PBR35) chairman Frank Blake retiring 02/02/15, president/CEO Craig Menear to become chairman at that time. Click here for the HD press release.
The US Dept of Labor reports that the Consumer Price Index(CPI-U) was down 0.4% in Dec, increased 0.8% over the last 12 months. Click here for the USDOL press release.
The US Dept of Treasury reports that the sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net Treasury International Capital outflow of $6.3 billion. Click here for the Treasury press release.
The US Dept of Labor preliminary report shows current avg earnings/hour for December was $24.57, down 0.2% from November. Click here for the USDOL press release.
Thursday, January 15:
The Swiss National Bank unexpectedly discontinues its minimum exchange rate with the Euro, lowers interest rate to -0.75%, stock markets worldwide drop. Click here for the SNB press release.
Target(PBR38) announces plans to discontinue Canadian operations, 133 stores, 17,600 employees. Click here for the Target press release.
The Johnson & Johnson(PBR39) Janssen Pharmaceutical unit is divesting its US license rights of its Nucynta products to Depomed for $1.05 billion. Click here for the JNJ press release.
Dollar General(PBR153) provides update on the FTC review of its proposed merger with Family Dollar(PBR252). Click here for the DG press release.
Kellogg(PBR188) completes acquisition of 86% stake in Egyptian public 3,300 employee $70 million/2013 packaged biscuits producer Bisco Misr. Click here for the Kellogg press release.
Caesars Entertainment(PBR301) subsidiary Caesars Entertainment Operating Company commences voluntary Chapter 11 reorganization, to reduce debt by $10 billion. Click here for the Caesars press release.
CME Group(PBR680) & trading technologies provider GFI Group announce revised offer of $5.60/share for GFIG stockholders, $282 million. Click here for the CME press release.
Vornado(PBR714) completes spin-off of subsidiary Urban Edge Properties as an independent public company on NYSE: UE. Click here for the Vornado press release.
AutoNation(PBR151) chairman/CEO Mike Jackson to add president title upon retirement of pres/COO Mike Maroone, SVP/Sales Bill Berman to become EVP/COO. Click here for the AutoNation press release.
Viacom(PBR202) extends employment agreement with president/CEO Philippe Daumann through 2018. Click here for the Viacom press release.
Juniper Networks(PBR501) promotes Jonathon Davidson EVP/GM of Development & Innovation, reports to CEO Rami Rahim. Click here for the Juniper press release.
FreddieMac(PBR33) reports that the 30 yr fixed mortgage rate for the past weekk averaged 3.66% with 0.6 point. Click here for the FreddieMac press release.
The US Dept of Labor reports that the December Producer Price Index for final demand fell 0.3%, seasonally adjusted, increased 1.1% in 2014. Click here for the USDOL press release.
Wednesday, January 14:
General Motors(PBR7) to increase capital expenditures to $9 billion in 2015, sold 3.5 million vehicle in China in 2013. Click here for the GM press release.
Exelon(PBR109) & Pepco(PBR498) reach settlement agreement with the NJ Board of Public Utilities in proposed $6.83 billion merger, now planned for 2nd or 3rd quarter 2015. Click here for the Exelon press release.
Adobe Systems(PBR565) authorizes new $2 billion shares repurchase program through FY2017. Click here for the Adobe press release.
Constellation Brands(PBR483) names Bill Newlands to new position of Chief Growth Officer, reports to president/CEO Rob Sands, starts 01/26/15. Click here for the CB press release.
Hawaiian Airlines(PBR849) promotes Shannon Okinaka to SVP/Interim CFO, fills vacancy left by Scott Topping, reports to president/CEO Mark Dunkerley. Click here for the HA press release.
JPMorgan Chase(PBR20) new report reveals summer jobs for young people decline significantly. Click here for the JPMC press release.
The US Dept of Labor says the December price index for U.S. imports fell 2.5%, follows 1.8% drop in November, decreases due to lower fuel prices. Click here for the USDOL press release.
The US Dept of Commerce reports that the US total business November end of month inventories were at $1,763.6 billion, +0.2%(+/- 0.1%) from October. Click here for the USDOC press release.
The US Federal Reserve Board releases the latest Beige Book, says modest growth across most districts in recent months, expects faster growth in coming months. Click here for the FRB press release.
Fun info: Vegas by the Numbers: A 2014 Recap; provided by MGM Resorts Intl(PBR270). Click here for the PRNewswire press release.
Tuesday, January 13:
Textron(PBR222) Specialized Vehicles unit acquires 90 employee UK based ground support equipment manufacturer Douglas Equipment from Curtiss-Wright(PBR771), terms not disclosed. Click here for the Textron press release.
Henry Schein(PBR276) acquires dental practice transition and brokerage firm ADS Florida, terms not disclosed. Click here for the HS press release.
Mohawk Industries(PBR342) to acquire Belgium based sheet vinyl, luxury vinyl tile, & laminate manufacturer IVC Group for $1.2 billion. Click here for the Mohawk press release.
Cabot(PBR600) authorizes 5 million shares repurchase program, cancels previous programs. Click here for the Cabot press release.
Dana Holding(PBR367) President/CEO Roger Wood to retire in 04/16, global executive search firm Spencer Stuart retained. Click here for the DH press release.
TD Ameritrade(PBR651) EVP/CFO Bill Gerber to retire at end of FY, 09/15. Click here for the TDA press release.
The US Dept of Labor reports 5.0 million job openings at the end of November, little changed from 4.8 million in October. Click here for the USDOL press release.
Monday, January 12:
AmerisourceBergen(PBR16) to acquire animal health distribution company MWI Veterinary Supply(PBR673) for $190/share, $2.5 billion, expect to close transaction in 03/15. Click here for the AB press release.
General Cable(PBR385) promotes Sonya Reed to Chief HR Officer, Emerson Moser to SVP General Counsel/Corp Secretary, names Kurt Drake SVP Chief Compliance Officer. Click here for the GC press release.
Carlyle Group(PBR528) promotes 59 professionals to senior positions. Click here for the CG press release.
Perrigo(PBR564) signs exclusive 5 year agreement with Ferrara Candy to manufacture gummy vitamins and dietary supplements for $625 million market. Click here for the Perrigo press release.
Arthur J Gallagher(PBR647) acquires Newport Beach, CA, based national benefits provider firm e3 Financial, terms not disclosed. Click here for the AJG press release.
Citrix(PBR685) has acquired workload-oriented storage virtualization technologies developer Sanbolic, terms not disclosed. Click here for the Citrix press release.
Specialty chemicals company Albemarle(PBR742) completes $6.2 billion acquisition of Rockwood Holdings(PBR1015), which will be delisted. Click here for the Albemarle press release.
SunEdison(PBR888) & India based Adani to build the largest solar manufacturing facility in India with a $4 billion investment. Click here for the SunEdison press release.
SunEdison(PBR888) & India based Omnigrid Micropower partner for 250MW power across 5,000 rural projects to bring electricity to 10 million people in rural India. Click here for the SunEdison press release.
Alpha Natural Resources(PBR478) president Paul Vining resigning end of 01/15, other executives to take on additional responsibilities. Click here for the ANR press release.
ABM Industries(PBR489) EVP Scott Salmirs to succeed president/CEO Henrik Slipsager as CEO, effective 03/31/15. Click here for the ABM press release.
Citrix(PBR685) appoints Carlos Sartorius SVP, Worldwide Sales & Services, reports to pres/CEO Mark Templeton. Click here for the Citrix press release.
Acxiom(PBR1073) Chief Revenue Officer Nada Stirratt stepping down, effective 03/31/15, CEO Scott Howe to lead sales until replacement found. Click here for the Acxiom press release.
Friday, January 9:
DJIA closes week at 17,737.37, -0.54% from last Friday, -0.48% MTD, QTD, & YTD.
NASDAQ closes week at 4,704.07, -0.48% from last Friday, -0.68% MTD, QTD, & YTD.
SPX closes week at 2,044.81, -0.65% from last Friday, -0.68% MTD, QTD, & YTD.
Estee Lauder(PBR242) completes acquisition of ultraluxury fragrances company Editions de Parfums Frederic Malle, terms not disclosed. Click here for the EL press release.
Dover(PBR295) authorizes 15 million over 3 years shares repurchase program. Click here for the Dover press release.
Advance Auto Parts(PBR382) promotes Tammy Finley to EVP, Human Resources & General Counsel, reports to CEO Darren Jackson. Click here for the AAP press release.
Spectrum Brands(PBR529) president/CEO Dave Lumly to retire by end of 2015, will remain on the board. Click here for the SB press release.
Endo Health(PBR741) announces several senior management changes based on pending acquisition of Auxilium. Click here for the EH press release.
The Dept of Labor reports that nonfarm payroll jobs increased by 252,000 in December, the unemployment rate is at 5.6%. Click here for the USDOL press release.
The US Census Bureau reports that November wholesalers sales were $452.2 billion, -0.3% from October. End of Month inventories were at $547.2 billion, +0.8% from October. here for the Census press release.
Thursday, January 8:
Macy’s(PBR97) restructuring merchandising & marketing, make store & field organization adjustments, maintain 175,000 associates level. Click here for the Macy’s press release.
Global Partners(PBR136) completes acquisition of NE US petroleum products marketer Warren Equities for $387 million. Click here for the GP press release.
General Mills(PBR148) to close baked refrigerated goods plants in New Albany, IN, & Midland, Ontario, will impact 500 employees. Click here for the General Mills press releases.
Dun & Bradstreet(PBR962) acquires B2B professional contact data provider NetProspex for $125 million. Click here for the D&B press release.
Starbucks(PBR164) COO Troy Alstead, after 23 year career, to take an extended unpaid leave of absence after 03/01/15. Click here for the Starbucks press release.
Ball Corp(PBR304) names Manette Snow to new position of VP, Diversity & Inclusion, reports to chairman/president/CEO John Hayes. Click here for the Ball Corp press release.
Carlyle Group(PBR528) appoints Georgette Kiser as Chief Info Officer, reports to co presidents/COOs. Click here for the CG press release.
ADT(PBR620) appoints Andrea Martin to President of Canada operations, effective 01/12/15, reports to President/CEO Naren Gursahaney. Click here for the ADT press release.
Boise Cascade(PBR636) COO Tom Corrick to become CEO upon retirement of Tom Carlile on 03/06/15. Click here for the BC press release.
W.R. Grace(PBR657) appoints Elizabeth Brown as Chief Human Relations Officer. Click here for the WRG press release.
FreddieMac(PBR33) reports that the average 30 year fixed mortgage rate is at 3.73% with 0.6 point. Click here for the FreddieMac press release.
General Motors(PBR7) CEO Mary Barra expects the auto industry to sell16.5-17.0 million new cars in the US in 2015. Click here for the GM press release.
The US Fed Reserve Board reports that November consumer credit was up at a 5% seasonally adjusted annual rate. Revolving credit down at 1.25%, and nonrevolving credit up at 7.5%. Click here for the FRB press release.
President Obama proposes to make community college free for responsible students for 2 Years. Click here for the Whitehouse press release.
President Obama proposes to reduce FHA mortgage insurance to save new homeowner an avg of $900/yr. Click here for the Whitehouse press release.
The US Olympic Committee selects Boston as applicant city for the 2024 Olympic & Paralympic Summer Games. Click here for the USOC press release.
Wednesday, January 7:
T-Mobile US(PBR115) reports 8.3 million total net customer additions in 2014. Click here for the T-Mobile press release.
PVH(PBR318) announces closing of 120 store Izod Retail Division by end of 2015, keep growing wholesale business. Click here for the PVH press release.
Flowserve(PBR477) completes acquisition of Netherland’s based engineered vacuum and fluid pumps provider SIHI Group BV for $372.5 million. Click here for the Flowserve press release.
Keurig Green Mountain(PBR499) to be exclusive producer of Dr Pepper Snapple(PBR409) products for its Keurig Cold at-home beverage system in multi-year agreement. Click here for the Keurig press release.
Carlyle Group(PBR528) acquires engineering/manufacturing drivetrain firm AxleTech International from General Dynamics(PBR91), terms not disclosed. Click here for the CG press release.
Ford(PBR8) John Felice retiring after 30 years, Mark Laneve to succeed him as VP, US Marketing, Sales & Service. Click here for the Ford press release.
Raytheon(PBR118) appoints CFO David Wajsgras as president, IIS, Toby O’Brien to be VP/CFO, effective 03/02/15. Click here for the Raytheon press release.
Alpha Natural Resources(PBR478) CFO Frank Wood to retire on 02/28/15, EVP/Chief Strategy Officer Philip Cavatoni to add CFO duties. Click here for the ANR press release.
Bright Horizons(PBR1047) President/COO Mary Ann Tocio to retire 07/15, leadership changes announced. Click here for the BH press release.
ADP(PBR220) National Employment Report says 241,000 non-farm private sector jobs added in December. Click here for the ADP press release.
The US Dept of Commerce reports that the international trade deficit in goods and services decreased to $39.0 billion in November from $42.2 billion in October (revised), as imports decreased more than exports. Click here for the USDOC press release.
The Federal Open Market Committee released its December 16-17 meeting notes, no immediate plans to raise interest rates. Click here for the FOMC press release.
Dun & Bradstreet(PBR962) says the US economy is showing signs of hesitant growth in 2015. Click here for the D&B press release.
An apparent small cell of Al Qaida operatives systematically attack and kill 12 people in the headquarters of Paris, France, based satirical publication Charlie Hebdo.
Tuesday, January 6:
In separate meetings Medtronic(PBR161) & Ireland based medical supplies provider Covidien shareholders approve Medtronic’s $49.2 billion acquisition, expected to close in next 3-5 weeks. Click here for the Medtronic press release.
Gilead Sciences(PBR237) to acquire from private German based biotech Phenex Pharmaceuticals its liver disease treatment protocols for up to $470 million. Click here for the GS press release.
Coach(PBR490) acquiring women’s luxury footwear designer and manufacturer Stuart Weitzman from private equity firm Sycamore Partners for $574 million cash. Click here for the Coach press release.
Brazilian based Cutrale & Safra complete the $14.50/share tender offer of Chiquita Brands(PBR658), now own 84%+ of common shares. Click here for the Chiquita press release.
The US Dept of Commerce reports that new orders for manufactured goods in November, down 4 consecutive mos, was down $3.5B from October, or -0.7%, to $492.7B. Click here for the USDOC press release.
The 114th US Congress is convened, John Boehner re-elected as House Speaker, Mitch McConnell elected Senate Majority Leader.
Monday, January 5:
Amazon(PBR37) says Amazon Sellers sold record over 2 billion items worldwide in 2014. Click here for the Amazon press release.
AIG(PBR41) completes acquisition of UK based 350,000 consumer base Ageas Protective Life from Belgium based Ageas Group for $305 million. Click here for the AIG press release.
Pfizer(PBR53) has acquired Swiss based herpes vaccine developer Redvax GmbH, no terms disclosed. Click here for the Pfizer press release.
Amgen(PBR144) & Kite Pharma(NASDAQ: KITE) form strategic cancer immunotherapy research collaboration & license agreement. Click here for the Amgen press release.
C.H. Robinson(PBR211) completes acquisition of private freight broker Freightquote.com for $365 million cash. Click here for the CHR press release.
Cameron International(PBR269) completes sale of Centrifugal Compression unit to Ireland based Ingersoll-Rand for $850 million. Click here for the Cameron press release.
Alliance Data(PBR540) announces $600 million shares repurchase program for 2015. Click here for the AD press release.
CME Group(PBR680) reports average trading volume in 2014 at 13.7 million contracts per day, up 9% from 2013. Click here for the CME Group press release.
Belden(PBR873) completes acquisition of global cybersecurity firm Tripwire for $710 million. Click here for the Belden press release.
Endo Health(PBR741) EVP/Chief Legal Officer Caroline Manogue to retire on 07/01/15, executive search firm retained. Click here for the Endo Health press release.
Curtiss-Wright(PBR771) announces CEO David Adams now also chairman. Click here for the C-W press release.
Covanta Holding(PBR970) announces Steve Jones to become president/CEO in 03/15 when Anthony Orlando steps down, but stays on board. Click here for the Covanta press release.
Blackstone(PBR374) Advisory Partners Vice Chairman Byron Wien announces his annual Predictions for 10 Surprises for 2015. Click here for the Blackstone press release.
Sunday, January 4:
The PBR1000: The December 2014 Breaking News Recap is posted. Click here for the post.
Friday, January 2:
DJIA closes week at 17,832.99, -1.22% from last Friday, -0.20% MTD, QTD, & YTD.
NASDAQ closes week at 4,726.81, -1.67% from last Friday, -0.20% MTD, QTD, & YTD.
SPX closes week at 2,058.20, -1.46% from last Friday, -0.03% MTD, QTD, & YTD.
3M(PBR92) completes sale of its global $45 million/yr Static Control business to Desco Industries, terms not disclosed. Click here for the 3M press release.
Cliffs Natural Resources(PBR422) completes sale of W Virginia Logan County coal assets to Coronado Coal for $175 million cash, confirms E Canada facility Bloom Lake has closed. Click here for the CNR press release.
HCC Insurance(PBR760) completes acquisition of Producers Ag Insurance Group from CUNA Mutual Group for $105 million cash. Click here for the HCC press release.
HealthSouth(PBR827) completes $750 million acquisition of privately held 5,000 employee Encompass Home Health & Hospice. Click here for the HealthSouth press release.
International Game Technology(PBR876) special shareholders meeting set for 02/10/15 to vote on acquisition by consortium led by Italian based game technology company GTECH for $6.4 billion in cash, stock, & debt. Click here for the IGT press release.
Graco(PBR1072) announces acquisition of 4 companies for $185 million, including PA based High Pressure Equipment. Click here for the Graco press release.
The US Dept of Commerce says prelim total annual rate construction spending in November was $975 billion, -0.3% from October. Click here for the USDOC press release.
Thursday, January 1:
The staff of PBRMarketTools wishes you and yours a Happy, Blessed, Healthy, and Prosperous 2015!
(The PBR1000 is the premiere comparative data and reporting service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate over $13 trillion in annual worldwide revenues, more than all other companies in the US combined. These are the key drivers in the US and world economies. On a monthly, quarterly, and annual basis several analytical reports in customizable Microsoft Excel format are provided to The PBR1000 subscribers. Users include C-level executives, entrepreneurs, sales/marketing/advertising professionals, investors/investment advisers, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Order page.)
(Photo courtesy of freedigitalphotos.net, Danilo Rizzuti.)
