Lady Liberty Experienced
A Stormy Start To 2016.
When Will The Skies Start To Clear?
January 2016: A Stormy Start
By Larry C. Paxton
Many people were happy to see 2015 come to an end. Most experts were painting a cautious rosy picture for 2016.
But January 2016 turned out to be even more volatile than December.
Oil prices plummeted again, but did recover a little by month end. There are concerns about the collateral damage of lower and negative profits from major oil industry companies. Towards the end of the month 4th quarter earnings came in with mixed results across all business sectors.
Internationally the Bank of Japan surprised most by introducing a negative funds rate. China is experiencing much slower growth as it transitions into a more internal consumer based economy, and there is continuing concern about the numbers China provides. Europe growth is mostly flat.
While US economic indices indicate consumer confidence, other indices show moderate growth at best, and there still seems to be no sense of stability yet. As the year progresses the US Presidential Race might have an impact, especially if the attack ads are especially negative regarding the economy and how big business affects it.
So, what will happen in February? It’s anybody’s guess. A few of our feeble predictions are that the volatility will continue; mergers, acquisitions, and spinoffs will increase; there will be some layoffs; oil will recover a bit more, and; the initial caucuses and primary elections in the US Presidential Race will only confuse and anger voters.
Following are The PBR1000 and economic related news items of note for January 2016, starting with the last active day.
Friday, January 29:
The PBR1000 End of January US Stock Exchanges Snapshot:
DJIA closes month at 16,466.30, +2.32% from last week, -5.50% MTD/QTD/YTD. Record: 18,312.39 on 05/19/15.
NASDAQ closes month at 4,613.95, +0.50% from last week, -7.86% MTD/QTD/YTD. Record: 5,218.86 on 07/20/15.
SPX closes week at 1,940.24, +1.75% from last week, -5.07% MTD/QTD/YTD. Record: 2,130.82 on 05/21/15.
Apple(PBR5 $AAPL) aims for virtual reality with Flyby acquisition, reported hiring. MarketWatch article link.
Xerox(PBR144) to split into 2 public companies, $11 billion Document Technology and a $7 billion Business Process Outsourcing, to be completed by end of 2016. $XRX PR link.
Axiall(PBR521) rejects as undervalued unsolicited $20.00/share offer from Westlake Chemical(NYSE: WLK). $AXLL PR link.
Men’s Wearhouse(PBR643) forming a holding company, Tailored Brands, Inc., to start trading on 02/01/16 as NYSE: TLRD. $MW PR link.
Gilead Sciences(PBR107) president/COO John Milligan, PhD, to become CEO on 03/10/16, John Martin to become executive chairman. $GILD PR link.
The US Dept of Labor says US 4th Quarter Employment Cost Index at 125.2, +0.6% from 3rd Quarter, compensation +2.0% from 4th Quarter 2014. USDOL article link.
The US Dept of Commerce says US 4th Quarter Gross Domestic Product Advance Estimate at 0.7% annual rate, $18.128 billion, 2015 rate at 2.4%. USDOC article link.
The US Energy Information Administration says the Weekly Average Price/Gallon for gas at $1.856, diesel $2.071, heating oil $2.064, propane $2.024. USEIA article link.
The US Dept of Treasury says the US Total National Debt on 01/28/16 was $18.990 trillion. Treasury article link.
The FreddieMac releases its January Insight & Outlook, emphasis on housing buy-to-rent trends, economic headwinds $FMCC PR link.
ISM-Chicago says the January Chicago Business Barometer at 55.6, up 12.7 points from December. ISM-Chicago PR link.
U of Michigan says the January Survey of Consumers Confidence at 92.0, -0.6% from December, -6.2% from January 2015. UM PR link.
Opinion: US manufacturing teeters on the edge of recession. MarketWatch article link.
Thursday, January 28:
General Motors(PBR8 $GM) creates product team for autonomous vehicles. MarketWatch article link.
Hershey(PBR354) authorizes $500 million shares repurchase program. $HSY PR link.
Lithia Motors(PBR451) acquires $45 million/year Riverside Subaru in Riverside, CA. $LAD PR link.
Brown-Forman(PBR563) approves new 1 year $1 billion share repurchase program starting 04/01/16. $BF.B PR link.
NII Holdings(PBR604) completes $178 million sale of Nextel Argentina, to focus on Brazil operations. $NIHD PR link.
NASDAQ(PBR618) EVP-Corporate Strategy/CFO Lee Shavel to retire 03/31/16. $NDAQ PR link.
FreddieMac(PBR41) says 30 Year Fixed Mortgage Rates averaging 3.79%, -.02% from last wk, 0.6 points/fees unchanged. $FMCC PR link.
The US Dept of Labor says US Initial Unemployment Insurance Claims for the week ending 01/23/16 were at 278,000, -16,000 from the previous week. USDOL PR link.
The US Dept of Commerce says the US 4th Quarter Homeownership Rate at 63.8%, -0.2% from 4th Quarter 2014, +0.1% from 3rd Quarter. USDOC PR link.
The National Retail Federation says Super Bowl 50 Average Spending per Viewer/Partygoer at $82.19, up from $77.88 last year. NRF PR link.
Commentary: Earnings take a dark turn as profit warnings, sales misses mount. MarketWatch article link.
Opinion: Behind the puzzle of why companies aren’t firing. MarketWatch article link.
Wednesday, January 27:
Norfolk Southern(PBR242) to achieve $650 million in annual savings by 2020, includes reduction of workforce by 2,000. $NSC PR link.
Cognizant Technology(PBR272) acquires private global cloud consulting/technology services firm KBACE Technologies, terms not disclosed. $CTSH PR link.
Enbridge Energy(PBR333) acquires NE British Columbia Tupper Main & West gas plants from Murphy Oil(PBR448) Canadian subsidiary for $538 million. $EEP PR link.
DeVry(PBR905) to contest complaint filed by the Federal Trade Commission challenging employment and earnings outcomes of its graduates. $DV PR link.
Meredith Corp(PBR994) $2.4 billion acquisition by Media General(NYSE: MEG) has been terminated. $MDP PR link.
The Andersons(PBR525) SVP-Human Resources Arthur DePompei to retire, being succeeded by Val Blanchett, effective 02/15/16. $ANDE PR link.
The US Federal Reserve issues a statement from its 01/26-27/16 meeting, no change in funds rate because of mixed economic signals. FRB PR link.
The US Dept of HUD says December New Single Family House Sales Annual Rate at 544,000, +10.8% from November, +9.9% from December 2014. HUD PR link.
Tuesday, January 26:
Apple(PBR5) reports slowing growth in iPhone sales. MarketWatch article link.
AIG(46) to sell of some units, restructure into 9 business units, return at least $25 billion to shareholders over 2 years. $AIG PR link.
AIG(PBR46) to sell AIG Advisor Group to Lightyear Capital & PSP Investments, terms not disclosed. $AIG PR link.
Lockheed Martin(PBR64) to separate and combine IT and Technical Services with Leidos(PBR475 $LDOS) for $1.8 billion and 50.5% equity. $LMT PR link.
Praxair(PBR233) signs 15 year contract with energy producer Total, further expands pipeline network in the Port of Antwerp. $PX PR link.
Terex(PBR357) confirms receipt of unsolicited $30.00/share offer from Zoomlion. $TEX PR link.
Total System(PBR790) to acquire 1,000 employee, 235,000 merchant clients TransFirst for $2.35 billion cash. $TSS PR link.
Arrow Electronics(PBR120) COO Global Components/Enterprise Computing retiring effective 04/30/16. $ARW PR link.
The Conference Board says that the January Consumer Confidence Index was at 98.1, up from December’s 96.3. CB article link.
Monday, January 25:
Berkshire Hathaway(PBR4 $BRK.A) to complete $235/share, $37.2 billion acquisition of Precision Castparts(PBR274) on 01/29/16. $PCP PR link.
JPMorgan Chase(PBR21) to settle most of Lehman suit for $1.42 billion. MarketWatch article link.
Johnson Controls(PBR68) & Tyco plc(NYSE: $TYC) to merge, to be Johnson Controls plc with global headquarters in Cork, Ireland, stock symbol to be JCI. $JCI PR link.
Sprint(86 $S) Nextel Corp to cut up to 2,500 jobs, cut labor costs by $350 million/year. MarketWatch article link.
Under Armour(PBR668) announces global partnership with actor/producer Dwayne “The Rock” Johnson. $UA PR link.
Huntington Bancshares(PBR895) to acquire FirstMerit(NASDAQ: $FMER) for $3.4 billion, creates largest Ohio bank by deposit share, expands operations into Chicago & Wisconsin. $HBAN PR link.
Staples(PBR122) appoints Shira Goodman as president, N American Operations, John Wilson as president, International Operations & Transformation. $SPLS PR link.
Friday, January 22:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 16,093.51, +0.66% from last week, -7.64% MTD/QTD/YTD. Record: 18,312.39 on 05/19/15.
NASDAQ closes week at 4,591.18, +2.29% from last week, -8.31% MTD/QTD/YTD. Record: 5,218.86 on 07/20/15.
SPX closes week at 1,906.90, +1.41% from last week, -6.70% MTD/QTD/YTD. Record: 2,130.82 on 05/21/15.
United Continental(PBR77) 12,000+ pilots approve contract extension through 01/31/19. $UAL PR link.
Cigna(PBR85) says Centers for Medicare & Medicaid Services (“CMS”) intends to impose sanctions to suspend enrollment in its Medicare Advantage program because of Parts C & D discrepancies. $CI PR link.
Legg Mason(PBR709) acquires 83% majority interest in real estate investment & $40 billion portfolio management firm Clarion Partners for $585 million. $LM PR link.
Piedmont Natural Gas(PBR993) stockholders approve $4.9 billion acquisition by Duke Energy(PBR114 $DUK), to close by end of 2016. $PNY PR link.
The National Assn of Realtors says December Existing Home Sales at 5.46 million annual rate, +14.7% from November, median price $224,100. NAR PR link.
Thursday, January 21:
IBM(PBR25) acquires cloud based video streaming 80 million users/month service Ustream, terms not disclosed. $IBM PR link.
CBS(PBR210) and SKY announce long-term Pan-European agreement for Showtime portfolio of programming. $CBS PR link.
BB&T(PBR277) to complete $1.8 billion acquisition of National Penn Bancshares on or about 04/01/16. $BBT PR link.
Tiffany & Co(PBR551) authorizes new $500 million stock repurchase program, expires 01/31/19. $TIF PR link.
TD Ameritrade(PBR662) launches new investment services for AARP‘s 38 million members. $AMTD PR link.
IAC(PBR665) restructures into 5 segments, changes stock symbol from IACI to IAC. $IAC PR link.
H&R Block(PBR669) opens over 280 offices for its new brand Block Advisors providing tax services all year. $HRB PR link.
Wednesday, January 20:
Staples(PBR122) & Office Depot(PBR182 $ODP) extend merger termination date to 05/16/16 to satisfy FTC litigation & obtain financing. $SPLS PR link.
Fiserv(PBR474) to acquire for $200 million the assets of Community Financial Services unit of ACI Worldwide(NASDAQ $ACIW). $FISV PR link.
Brunswick(PBR584) has acquired commercial fitness equipment maker Cybex International for $195 million. $BC PR link.
Cenveo(PBR899) completes $105 million sale of Packaging Business to WestRock. $CVO PR link.
Citrix(PBR658) hires Kirill Tatarinov as president/CEO, effective 01/25/16. $CTXS PR link.
The US Dept of Labor says December Current Average Earnings at $25.24/hr, -0.04% from November, +2.5% from December 2014. USDOL PR link.
The US Dept of Labor says December Consumer Price Index was -0.1% from December, +0.7% over last 12 months. USDOL PR link.
The US Dept of HUD says the December Family Housing New Construction Permits Annual Rate at 1,232,000, -3.9% from November, +14.4% from December 2014. USHUD PR link.
Investing: BlackRock(PBR252) sponsored report says US institutional investors to increase & broaden use of ETFs in 2016. $BLK PR link.
Tuesday, January 19:
Johnson & Johnson(PBR37) to restructure Medical Devices to save around $1 billion, includes 4-6% reduction in global workforce over 2 years. $JNJ PR link.
AIG(PBR46) raises available global commercial property limits to $2.5 billion per occurrence. $AIG PR link.
JCPenney(PBR234) introducing major appliances in 22 pilot stores starting 02/01/16. $JCP PR link.
Chipotle(PBR561) new food safety procedures iin place, to close all locations 11AM-3PM on 02/08/16 for all team meeting. $CMG PR link.
Genesco(PBR702) has sold its school/youth sports apparel& equipment Lids Team Sports unit to Varsity Sports subsidiary BSN Sports, terms not disclosed. $GCO PR link.
Chico’s FAS(PBR730) completes sale of its Boston Proper direct-to-consumer business. $CHS PR link.
Tetra Tech(PBR781) completes acquisition of Australian based $407 million revenues/2015 geoservices/project management co Coffey Intl. $TTEK PR link.
ABM Industries(PBR478) hires David Goodes as SVP-Chief Human Resources Officer. $ABM PR link.
The Andersons(PBR525) president Grain/Ethanol groups Neill McKinstray retiring, Corey Jorgenson to be president-Grain. $ANDE PR link.
Monday, January 18:
***Dr. Martin Luther King, Jr. Day
***US Stock Markets Closed.
Qualcomm(PBR106) & Guizhou Province form joint venture to design & sell server chipsets in China. $QCOM PR link.
CSX(PBR226) restructuring from 10 to 9 division, closing Huntington, WV, admin office. $CSX PR link.
Alcoa(PBR115) hires Karl Tragl as president, Transportation/Construction Solutions, effective 02/15/16, succeeds leaving Jose Drummond. $AA PR link.
JCPenney(PBR234) hires Joe McFarland as EVP-Stores, succeeds Tony Bartlett. $JCP PR link.
Friday, January 15:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 15,988.08, -2.19% from last week, -8.25% MTD/QTD/YTD. Record: 18,312.39 on 05/19/15.
NASDAQ closes week at 4,488.42, -3.34% from last week, -10.36% MTD/QTD/YTD. Record: 5,218.86 on 07/20/15.
SPX closes week at 1,880.33, -2.17% from last week, -8.00% MTD/QTD/YTD. Record: 2,130.82 on 05/21/15.
Walmart(PBR1) to close 269 stores worldwide, affects 16,000 associates, to offer jobs assistance. $WMT PR link.
General Electric(PBR9) to sell Appliances business to Qingdao Haier Co for $5.4 billion. $GE PR link.
Genworth Financial(PBR287) closes sale of certain blocks of term life insurance policies to Protective Life Insurance Company. $GNW PR link.
PulteGroup(PBR428) completes $450 million acquisition of 7,400 controlled lots, 280 homes in backlog, from John Wieland Homes. $PHM PR link.
Intuit(PBR529) to sell its online marketing/communications software service Demandforce unit to Internet Brands. $INTU PR link.
Graphic Packaging(PBR553) to acquire 2 location folding carton manufacturer Walter G Anderson, terms not disclosed. $GPK PR link.
Pinnacle Foods(PBR751) completes $11.00/share, $975 million acquisition of health & wellness foods brands manufacturer Boulder Brands. $PF PR link.
Equinix(PBR793) completes $3.8 billion acquisition of UK based 40+ data centers services provider Telecity. $EQIX PR link.
Caterpillar(PBR54) promotes VP Denise Johnson to group president of Resources Industries unit, effective 04/01/16, succeeds retiring Ed Rapp. $CAT PR link.
Polaris Industries(PBR531) VP Corporate Development Todd Balan has left, Guido Neizert appointed interim. $PII PR link.
Cinemark(PBR739) hires Angelia Pelham as EVP-Chief Human Relations Officer. $CNK PR link.
US Federal Reserve says December Total US Industrial Production was at 106.0% of 2012 average, -1.8% from December 2014. FRB PR link.
US Dept of Labor says the December Producer Price Index was -0.2%, goods at -0.7%, services +0.1%, 2015 at -1.0%. USDOL PR link.
US Dept of Commerce says November Trade Sales/Manufacturers’ Shipments Value at $1.314 trillion, -0.2% from October, -2.8% from November 2014. USDOC PR link.
US Dept of Commerce says December US Retail/Food Services Sales were $448.1 billion, -0.1% from November, +2.2% from December 2014. USDOC PR link.
Energy: Obama halts most new coal-mining leases on public lands. MarketWatch article link.
Personal Finance: America’s growing student-loan-debt crisis, $1.2 trillion for 40 million students. MarketWatch article link.
Thursday, January 14:
Goldman Sachs(PBR76) agrees to $2.285 billion settlement regarding pre-recession mortgage securities. $GS PR link.
Brown-Forman(PBR563) to sell its Southern Comfort & Tuaca trademarks to Sazerac for $544 million. $BF PR link.
Orbital ATK(PBR655) gets new NASA contract to deliver cargo to the International Space Station. $OA PR link.
United Technologies(PBR45) appoints Robert Leduc as president, Pratt & Whitney unit, Paul Adams retiring. $UTX PR link.
Lowe’s Cos(PBR50) hires Jennifer Weber as Chief Human Resources Officer, effective 03/01/16, succeeds retiring Maureen Ausura. $LOW PR link.
MGM Resorts(PBR273) hires James Steward as CEO & Andy Chien as CFO for future REIT spinoff MGP. $MGM PR link.
Alaska Air(PBR454) promotes Kurt Kinder to VP, Maintenance and Engineering. $ALK PR link.
Fortune Brands(PBR569) hires Brett Finley as President of Therma-Tru Doors. $FBHS PR link.
The US Dept of Labor says December Import Prices were -1.2% from November, -8.2% from December 2014, driven mostly by fuel prices. USDOL PR link.
Apple(PBR5)‘s slowing iPhone sales weigh on suppliers. MarketWatch PR link.
Entertainment: 21st Century Fox(PBR91 $FOX) films prove dominant, racking up 26 Oscar nominations. MarketWatch article link.
The PBR1000 Fact: The PBR1000 Total Market Capitalization(1,036 companies) on 12/31/15 was $20.364 trillion, -2.08% from Nov, -2.06% for the year.
Wednesday, January 13:
General Motors(PBR8) adds $4 billion to shares repurchase program, $9 billion now available. $GM PR link.
General Electric(PBR9 $GE) to cut 6,500 jobs in Europe at ex-Alstom units. MarketWatch article link.
General Electric(PBR9) to move headquarters from Fairfield, CT, to Boston, MA, to be completed by end of 2018. $GE PR link.
World’s #1 golfer Jordan Spieth signs multi-year partnership deal with Coca-Cola(PBR63). $KO PR link.
Reynolds American(PBR317) completes $5.0 billion sale of Natural American Spirit international businesses. $RAI PR link.
TreeHouse Foods(PBR690) to hire additional Omaha-based ConAgra(PBR166 $CAG) Private Brands employees. $THS PR link.
Activision Blizzard(PBR540) hires Stacey Sher to be co-president with Nick van Dyk of television/films Studios unit. $ATVI PR link.
Boyd Gaming(PBR727) promotes Josh Hirsberg to EVP/CFO & treasurer, Steve Thompson to EVP-Operations, Nevada, & corporate procurement, admin, & slot operations, & Ted Bogich to EVP-Operations Midwest/South/Peninsula, & corporate marketing, design, & construction. $BYD PR link.
HCP(PBR831) promotes Troy McHenry to EVP-General Counsel, Corporate Secretary, succeeds retiring Jim Mercer. $HCP PR link.
The US Dept of Treasury says US FY(3 mos) YTD Receipts through December were $765.645 billion, Outlays $981.190 billion, Deficit $215.546 billion. Treasury PR link.
The US Federal Reserve releases Beige Book. 12 Districts report overall flat to moderate growth since last release . FRB PR link.
Economy: So many jobs, so little growth. What gives? MarketWatch article link.
Auto Industry: Auto execs shrug off fears for global car sales. MarketWatch article link.
Tuesday, January 12:
Ford(PBR10) sells 1.3 million vehicles in Europe in 2015, +11% from 2014. $F PR link.
MetLife(PBR39) to pursue spinoff of US Retail Business into separate public company. $MET PR link.
Visteon(PBR351) to acquire India based 140 employee automotive multimedia systems supplier AllGo Systems. $VC PR link.
Graphic Packaging(PBR553) to acquire Australian based 3 locations folding carton manufacturer Colorpak(ASX: CKL) in 2Q2016. $GPK PR link.
W.R. Grace(PBR625) approves separation of GCP Applied Technologies, to be completed 02/03/16, to trade as NYSE: GCP. $GRA PR link.
Aeropostale(PBR924) has new cost reduction program, to eliminate 100 corporate positions. $ARO PR link.
Kroger(PBR20) Fred Meyer president Lynn Gust retiring, Jeff Burt promoted, takes over 01/31/16. $KR PR link.
Boyd Gaming(PBR727) 40 year employee EVP/Chief Business Development Officer Bob Boughner retiring this summer, will remain on board. $BYD PR link.
FTI Consulting(PBR941) CFO David Johnson leaving 02/29/16, joining an NGO. $FCN PR link.
The Dept of Labor says November Job Openings at 5.432 million, was 5.349 million in October, was 4.886 million in November 2014. USDOL PR link.
2016 Outlook: KKR(PBR332) releases its global Outlook 2016: Adult Swim Only. $KKR article link.
Computer Industry: 4Q2015 worldwide PC shipments were 75.7 million units, -8.3% from 4Q2014. Gartner article link.
CoreLogic says November Houses in Foreclosure at 448,000, 1.2% of all mortgages, -21.8% from November 2014. Corelogic article link.
Monday, January 11:
Walgreens Boots Alliance(PBR36) turning over ownership of the 56 Chicago-land area health care retail clinics to operator Advocate Health Care. $WBA article link.
Alcoa(PBR115) gets longterm $1.5 billion contract to supply jet engine components to General Electric(PBR9) Aviation unit. $AA article link.
Apollo Education(PBR681) to explore strategic alternatives, including change of ownership. $APOL article link.
Arch Coal(PBR691) files for Chapter 11 reorganization, to restructure $1.9 billion of debt, will stay open. $ACI article link.
DENTSPLY(PBR694) and Sirona Dental(NASDAQ: SIRO) shareholders approve $13 billion merger, to close 1Q2016. $XRAY article link.
Celgene(PBR347) Bob Hugin to be Executive Chairman, Pres/COO Mark Alles to be CEO, CFO Jacqualyn Fouse to be Pres/COO. $CELG article link.
Acxiom(PBR1062) promotes Dennis Self to president/general manager of Marketing Services. $ACXM article link.
Sports: Alabama wins the national college football championship 45-40 over Clemson. USA Today article link.
Friday, January 8:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 16,346.45, -6.19% from last week & MTD/QTD/YTD. Record: 18,312.39 on 05/19/15.
NASDAQ closes week at 4,643.63, -7.26% from last week & MTD/QTD/YTD. Record: 5,218.86 on 07/20/15.
SPX closes week at 1,922.03, -5.96% from last week & MTD/QTD/YTD. Record: 2,130.82 on 05/21/15.
Ford(PBR10) sets annual sales record in China, more than 1.1 million vehicles sold in 2015. $F PR link.
FedEx(PBR65) gets unconditional European Union approval for its $4.8 billion acquisition of Netherlands based TNT Express, to close in 1st half 2016. $FDX PR link.
Thermo Fisher Scientific(PBR175) to acquire cellular/genetic analysis products provider Affymetrix(NASDAQ: $AFFX) for $14.00/share, $1.3 billion cash. $TMO PR link.
Charter Communications(PBR297) gets NY approval for $78.7 billion acquisition of Time Warner Cable(PBR119). $CHTR PR link.
Dollar Tree(PBR309) announces departure of Howard R. Levine, CEO of acquired Family Dollar. $DLTR PR link.
The US Dept of Labor says December Civilian Workforce at 157.8 million available, 149.9 million employed, 7.9 million unemployed for 5.0% unemployment rate. USDOL PR link.
The Federal Reserve says December Total Consumer Credit is at $3.526 trillion, +0.40% from November, +6.29% from December 2014. FRB PR link.
The US Dept of Commerce says November US Wholesale Sales at $442.8 billion, -1.0% from October, -4.6% from November 2014. USDOC PR link.
Thursday, January 7:
Ford(PBR10) Adopts Mark-to-Market for Pension and OPEB Plans; Improves Transparency of Automotive Operating Performance. $F PR link.
Boeing(PBR27) delivers record 762 airplanes in 2015, 768 net orders booked. $BA PR link.
Alcoa(PBR115) to close Indiana based Warrick Smelter and curtail remaining capacity at Pt. Comfort refinery in Texas. $AA PR link.
SuperValu(PBR164) files Form 10 for possible spin-off of its Save-A-Lot unit into a separate, publicly traded company. $SVU PR link.
Penske Automotive(PBR170) acquires 49% interest in interest in Japan based BMW/MINI/Rolls-Royce/Ferrari luxury dealerships Nicole Group. $PAG PR link.
Omnicon(PBR192) division BBDO Worldwide acquires majority stake in fashion/luxury brands creative agency 100+ employees Wednesday Agency Group. $OMC PR link.
Dover(PBR343) completes $465 million acquisition of dispenser & system businesses from France based Tokheim Group. $DOV PR link.
Constellation Brands(PBR377) To Build New 10 Million Hectoliter Brewery In Mexicali, Mexico And Further Expand Its Nava Brewery. $STZ PR link.
NCR(PBR383) to sell Interactive Printer Solutions Division to Atlas Holdings LLC, terms not disclosed. $NCR PR link.
Meredith Corp(PBR994) proposes amended $20+/share “merger of equals” with Media General(NYSE: MEG). $MDP PR link.
Charles River Labs(PBR1025) to acquire biopharma/ag/industrial chemicals CDMO company WIL Research for $585 million cash. $CRL PR link.
United Continental(PBR77) CEO Oscar Munoz recovering from heart transplant, expects to return late 1st/early 2nd quarter. $UAL PR link.
Time Warner(PBR103) extends chairman/CEO Jeff Bewkes contract through 2020. $TWX PR link.
Northrop Grumman(PBR113) promotes Lisa R. Davis to Corporate VP, Communications, effective 02/29/16; Darryl M. Fraser to retire. $NOC PR link.
Lincoln National(PBR213) promotes Ken Solon to SVP, Chief Information Officer, reports to president/CEO. $LNC PR link.
Mylan(PBR346) CFO John Sheehan to retire on 04/01/16. $MYL PR link.
EMCOR(PBR392) promotes Maxine Lum Mauricio general counsel, succeeds Sheldon Cammaker who is now vice chairman. $EME PR link.
The Andersons(PBR525) COO & a corporate VP to retire, positions to be eliminated. $ANDE PR link.
Domino’s Pizza(PBR889) promotes Eric Anderson to EVP-International Operations, reports to International unit president in the Netherlands. $DPZ PR link.
Verisk Analytics(PBR943) promotes Bill Churney to president of its catastropic modeling unit AIR Worldwide. $VRSK PR link.
The US Dept of Labor says 2015 US Jobless Claims finish at lowest level since 1973. MarketWatch article link.
Wednesday, January 6:
T-Mobile US(PBR95) has 63.3 million subscribers with net 8.3 million added in 2015. $TMUS PR link.
Macy’s(PBR97) to reduce expenses by $400 million, eliminate 3,000 jobs, close 40 of 770 stores. $M PR link.
Carnival Corp(PBR184) to launch 4 new ships in 2016. $CCL PR link.
Monsanto(PBR187 $MON) to eliminate 1,000 more jobs on top of 2,600 annunced earlier. MarketWatch article link.
Facebook(PBR228) Oculus unit blogs that Oculus Rift pre-orders now open, $599 price, first shipments 03/28/16. $FB article link.
Netflix(PBR447) claims global presence after launching in 130 new countries. MarketWatch article link.
Alliance Data(PBR462) authorizes $500 million stock repurchase program for 2016. $ADS PR link.
Yahoo!(PBR519) receives letter from major stockholder Starboard Value suggesting management changes, new strategic directions. Starboard letter link.
Chipotle(PBR561) files SEC 8-K form regarding effects of recent health incidents on 4th quarter earnings & receipt of Federal Grand Jury Subpoena. $CMG PR link.
Amkor Technology(PBR659) now has 100% ownership in auto market OSAT $832 million/year J-Devices. $AMKR PR link.
Blackhawk Network(PBR998) acquires GiftCards.com & OmniCard.com for $120 million. $HAWK PR link.
Oshkosh(PBR368) Defense segment president John Urias retiring for health reasons, effective 02/06/16. $OSK PR link.
NetApp(PBR405) restructures, promotes Jeffrey Bergmann to interim CFO, succeeds leaving Nick Noviello. $NTAP PR link.
Clean Harbors(PBR629) promotes Michael Battles to EVP/CFO. $CLH PR link.
Fresh Market(PBR942) hires Pamela Kohn as EVP/Chief Merchandising Officer. $TFM PR link.
The US Dept of Commerce says Total US Exports YTD(11 months) were at $2.049 trillion, Imports $2.537 trillion, Balance -$0.488 trillion. USDOC article link.
The US Dept of Commerce says November New Orders of Manufactured Goods was $472.2 billion, -0.2% from October, -3.2% from November 2014. USDOC article link.
The Federal Reserve releases the December Meeting Open Market Committee Minutes. FOMC article link.
Healthcare: Here’s how much government healthcare spending has ballooned over two decades. MarketWatch article link.
World Bank forecasts modest 2.9% global growth in 2016, up from 2.4% in 2015, advanced economies to gain speed. WB article link.
Tuesday, January 5:
Apple(PBR5 $AAPL) scaling back iPhone production. MarketWatch article link.
Ford(PBR10) tripling its fleet of Fusion Hybrid autonomous research vehicles, largest such fleet among all automakers. $F PR link.
Netflix(PBR447) and DreamWorks($DWA) are making the leap to global markets. $NFLX PR link.
Fairchild Semiconductor(PBR1000) says revised unsolicited $21.70 from China Resources is superior offer. $FCS PR link.
NVR(PBR533) promotes Jeffrey Martchek to president, Homebuilding Operations. $NVR PR link.
Magellan Health(PBR592) hires Srini Koushik as Chief Technology Officer. $MGLN PR link.
2015 US Auto Sales set record with 17.5 million sold, +5.7% from 2014. Auto News article link.
December US Auto Sales at $57.9 billion, average unit price was $34,081. TrueCar article link.
RealEstate: Median price for Manhattan apartment is at a record $1.15 million, +17.3% from 2014. MarketWatch article link.
Yahoo!(PBR519) Flurry Analytics unit in State of Mobile study says mobile use grew by 58% in 2015. $YHOO article link.
Monday, January 4:
General Motors(PBR8) to invest $500 million in ridesharing service Lyft. $GM article link.
Baylor Scott & White Health and Tenet Healthcare(PBR161) Complete Joint Venture to Own Five North Texas Hospitals. $THC article link.
CBRE Group(PBR301) acquires 100+ employee Memphis, TN, affiliate. $CBG article link.
LifePoint Hospitals(PBR463) completes acquisition of 376 bed, 2,800 employees, 300 physicians St. Francis Hospital. $LPNT PR link.
LifePoint Hospital(PBR463) Duke unit joined by former Tenet Healthcare(PBR161 $THC) NC based 137 bed Central Carolina Hospital & 355 bed Frye Regional, includes 19 regional physician practices. $LPNT PR link.
NVIDIA(PBR510) Boosts IQ of Self-Driving Cars With World’s First In-Car Artificial Intelligence Supercomputer. $NVDA PR link.
Polaris Industries(PBR531) acquires private aftermarket snowmobile helmets & goggles provider 509, terms not disclosed. $PII PR link.
Activision Blizzard(PBR540) acquires esports live streaming gaming & competitive leagues developer Major League Gaming. $ATVI PR link.
Brink’s(PBR613) to add 3 directors per agreement with 12.3% stakeholder Starboard Value; Chairman/President/CEO to retire by 2016 annual meeting. $BCO PR link.
NASDAQ(PBR618) leads exchanges with 275 new listings in 2015. $NDAQ PR link.
General Motors(PBR8) CEO Mary Barra adds Chairman title. $GM PR link.
Target(PBR40) promotes Janna Potts to EVP, Chief Stores Officer, oversees 1,805 US stores, reports to COO. $TGT PR link.
Micron Technology(PBR180) president Mark Adams resigns for personal health reasons effective 02/01/16. $MU PR link.
Pitney Bowes(PBR588) hires Bob Guidotti as EVP & president, Software Solutions. Mark Wright now EVP, Strategic Growth Initiatives. $PBI PR link.
Analog Devices(PBR701) hires Jean Philibert as SVP-Human Resources. $ADI PR link.
Domino’s Pizza(PBR889) hires Judy Werthauser as EVP-Chief People Officer. $DPZ PR link.
The US Dept of Commerce says November Construction Spending is estimated at a $1.123 trillion annual rate, -0.4% from October, +10.5% from November 2014. USDOC PR link.
Economy: Here’s how the government miscalculated a decade’s worth of construction data. MarketWatch article link.
Opinion: Blackstone(PBR352)‘s Byron Wien Announces Predictions for Ten Surprises for 2016. $BX PR link.
Friday, January 1:
***Happy, Blessed, Peaceful, and Prosperous New Year!***
(Stock Markets Closed.)
Click here for The PBR1000 December 2015 Monthly Breaking News Recap.
Check out the BLOG page for the previous RECAPS and SNAPSHOTS posts.
Click here to follow The PBR1000 on Twitter!
(The PBR1000 is the premiere business intelligence service covering over 1,000 of the largest publicly held companies with principle or administration headquarters in the US. These companies generate nearly $14 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 advisors, business professors/students, career counselors/job seekers, to name just a few. To order your annual subscription, just go to the PBRMarketTools.com Subscribe page.)
(Photo courtesy of freedigitalphotos.net, Damian Brandon.)
