A Key The PBR1000 Growth Strategy in May 2015
Was The Use Of Mergers and Acquisitions.
What Will Be The Long Term Results?
By Larry C. Paxton
After the falling apart of the Comcast(PBR44)/Time Warner Cable(PBR125) merger in April, May 2015 saw a new, but not unexpected, Charter Communications(PBR320)/Time Warner Cable(PBR93) deal for $78 billion. It will be interesting to see what conditions are required for that deal to occur. But May 2015 was also a significant month for other over $10 billion dollar deals, like Avago Technology/Broadcom(PBR313), Pfizer(PBR53)/Hospira(PBR570), and Danaher(PBR139)/Pall Corp(PBR708). It was also a sad month that saw the collapse of Radio Shack(PBR619) as it goes through the bankruptcy process.
The US economy continues to give mixed signals. When the Federal Reserve will start to raise interest rates continues to be a topic of much discussion and conjecture.
The C-level suite had a lot of action as well. With active mergers and acquisitions, and mixed annual and quarterly results, this is not a big surprise.
Following are The PBR1000 and economic related news items of note for May 2015 starting with the last active day.
Friday, May 29:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,010.68, -1.21% from last Friday, +0.95% MTD, +1.32% QTD, +1.05% YTD.
NASDAQ closes week at 5,070.03, -0.38% from last Friday, +2.60% MTD, +3.45% QTD, +7.05% YTD.
SPX closes week at 2,107.39, -0.88% from last Friday, +1.05% MTD, +1.91% QTD, +2.36% YTD.
Raytheon(PBR118) completes $1.9 billion investment for 80% ownership in venture with Vista Equity Partners’ Websense unit to provide cyber security services. $RTN PR link.
Dollar Tree(PBR329) to sell 330 Family Dollar(PBR252) stores to private equity fund firm Sycamore Partners, contingent on completion of acquisition. $DLTR PR link.
Harman Intl(PBR448) completes acquisition of Denmark based high end car audio systems provider Bang & Olufsen, terms not disclosed. $HAR PR link.
Harris Corp(PBR469) completes acquisition of global aerospace, defense, information & other technologies Exelis(PBR487) for $23.75/share, $4.75 billion. $HRS PR link.
Brown Shoe(PBR770) rebranding, now known as Caleres(PBR770) per 04/16/15 announcement. $CAL PR link.
Equinix(PBR852) agrees to acquire UK based data centers provider Telecity for $3.6B. MarketWatch article link.
American Express(PBR86) announces unexpected death of its president, Ed Gilligan. $AXP PR link.
International Flavors & Fragrances(PBR677) hires Alison Cornell as EVP/CFO, effective 07/08/15. $IFF article link.
The US Dept of Commerce in 2nd estimate says 1st Quarter 2015 GDP grew at a -0.7%, $17.665 trillion annual rate. USDOC PR link.
Thursday, May 28:
JPMorgan Chase(PBR20) expected to lay off more than 5,000 by next year. MarketWatch article link.
Energy Transfer Equity(PBR55) to do 2-1 stock split on 07/24/15. $ETE PR link.
Broadcom(PBR313) to be acquired by Singapore based analog semiconductor devices provider Avago Technologies(NASDAQ: AVGO) for $37 billion cash/stock. $BRCM PR link.
Crown Castle(PBR670) completes sale of Australian subsidiary to investment group headed by Macquarie Infrastructure(PBR1086) for $1.6 billion. $CCI PR link.
Alliance One Intl(PBR804) to do 1-for-10 reverse stock split effective 06/29/15. $AOI PR link.
Tesla(PBR887), Southern Co(PBR160) partner in utility-scale battery-storage projects. MarketWatch article link.
Freddie Mac(PBR33) reports that the average 30 year fixed mortgage rate is at 3.87%, fees/points at 0.6. Freddie Mac PR link.
Dollar General(PBR153) promotes COO Todd Vasos to CEO, effective 06/03/15, Rick Dreiling to remain Chairman. $DG PR link.
Hawaiian Airlines(PBR849) promotes Shannon Okinaka to EVP/CFO. $HA PR link.
Wednesday, May 27:
Ford Motor(PBR8) recalls 423,000 vehicles for potential intermittent loss of electrical power steering assist while driving. $F PR link.
CA Technologies(PBR520) to acquire Agile software development & services provider Rally Software(NYSE: RALY) for $19.50/share, $480 million. $CA PR link.
Dealerships are ‘quietly supporting’ Tesla’s(PBR887) Elon Musk MarketWatch article link.
City National Corp(PBR1045) stockholders approve merger with Royal Bank of Canada for $5.4 billion cash/stock, expected to close in 4th quarter. $CYN PR link.
Carnival Corp(PBR176) hires Jim Heaney as SVP/CFO, effective 06/22/15, reports to President Christine Duffy. $CCL PR link.
Domino’s Pizza(PBR927) names Chief Marketing Officer, Chief Digital Officer, USA VP Strategy, VP Team USA. $DPZ PR link.
Obamacare to add billions in insurance overhead costs, study says. MarketWatch article link.
Tuesday, May 26:
Amazon(PBR37) to create more than 6,000 jobs at its US fulfillment centers. $AMZN PR link.
Amazon(PBR37) changes tax practices in Europe. MarketWatch article link.
EMC Corp(PBR119) to acquire privately held managed cloud services company Virtustream for $1.2 billion. $EMC PR link.
AbbVie(PBR142) completes $21 billion acquisition of hematology oncology Imbruvica developer Pharmacyclics(NASDAQ: PCYC). $ABBV PR link.
Hormel Foods(PBR294) to acquire privately held natural/organic meat processor Applegate Farms for $775 million, expected to close in 60 days. $HRL PR link.
Reynolds American(PBR316) & Lorillard(PBR357) get FTC approval for merger, federal court case is final major hurdle. $RAI PR link.
Charter Communications(PBR320) to acquire Time Warner Cable(PBR125) for $78.7 billion stock/cash. $CHTR PR link.
Priceline(PBR365) to invest an additional $250 million in China online travel service Ctrip(NASDAQ: CTRP), will then have a 10.5% of a maximum allowable 15% stake. $PCLN PR link.
Brunswick(PBR577) completes sale of its Bowling Products unit to private investment firm BlueArc Capital Management, terms not disclosed. $BC PR link.
Apple(PBR4) names Jony Ive chief design officer. MarketWatch article link.
Anthem(PBR40) EVP/President Commercial/Specialty Business Division Ken Goulet retiring this summer. $ANTM PR link.
C.H. Robinson(PBR211) hires Andrew Clarke as CFO, effective 06/01/15, reports to president/CEO John Wiehoff. $CHRW PR link.
SeaWorld(PBR1002) Chief Accounting Officer Marc Swanson appointed Interim CFO effective 06/01/15 upon announcement by Jim Heaney that he is returning to the cruise industry. $SEAS PR link.
The US Dept of HUD reports that April New Single-Family Houses Sales were at a 517,000 annual rate, +6.8% over March, +26.1% over April 2014 HUD PR link.
Monday, May 25:
US Memorial Day Observed.
US Stock Exchanges Closed.
Friday, May 22:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,232.02, -0.22% from last Friday, +2.19% MTD, +2.56% QTD, +2.29% YTD.
NASDAQ closes week at 5,089.36, +0.81% from last Friday, +2.99% MTD, +3.85% QTD, +7.46% YTD.
SPX closes week at 2,126.06, +0.16% from last Friday, +1.95% MTD, +2.81% QTD, +3.26% YTD.
Amgen(PBR144) terminating participation with AstraZeneca(NYSE:AZN) to co-develop & commercialize brodalumab for plaque psoriasis, psoriatic arthritis. $AMGN PR link.
Exelis(PBR487) shareholders approve acquisition by Harris Corp(PBR469) for $23.75/share, $4.75 billion cash/stock, expected to close on 05/29/15. $ENR PR link.
Energizer Holdings(PBR527) adopts limited duration shareholder rights plan in preparation for Personal Care Division spin-off. $ENR PR link.
Arch Coal(PBR671) receives continued listing standard notice from NYSE; taking steps to regain compliance with minimum share price standard. $ACI PR link.
ITT Educational(PBR1078) issues statement: ‘Day in Court Long Overdue for ITT Tech.’ $ESI PR link.
The US Dept of Labor reports that April Employee Avg Current Earnings were $24.87/hr, +2.2% from April 2014, $858.02/wk. USDOL PR link.
The US Dept of Labor reports that the April Consumer Price Index was +0.1% over March, -0.2% over the last 12 months. USDOL PR link.
Thursday, May 21:
CVS Health(PBR13) to acquire long term care facilities pharmacy provider Omnicare(PBR408) for $98/share, $12.7 billion cash. $CVS PR link.
QUALCOMM(PBR104) initiates accelerated $5 billion share repurchase program with two financial institutions. $QCOM PR link.
Spectrum Brands(PBR529) completes acquisition of HRG Group(PBR412) Armored AutoGroup unit for $1.4 billion cash. $SPB PR link.
Graham Holdings(PBR610) sells the African American emphasis TheRoot.com to a division of Univision Interactive Media. $GHI PR link.
Arthur J Gallagher(PBR647) acquires Midwest based retail insurance broker James R Weir Insurance Agency. $AJG PR link.
Chico’s FAS(PBR748) President/CEO David Dyer retiring in Spring 2016, search firm retained to find a successor. $CHS PR link.
Nortek(PBR822) CFO Almon Hall to retire at year end 2015, search among internal/external candidates begins. $NTK PR link.
Lumber Liquidators(PBR1093) founder Thomas Sullivan named Acting CEO upon the unexpected resignation of Robert Lynch. $LL PR link.
The National Assn of Realtors reports that April Existing Home Sales were at a 5.04 million annual rate, -3.3% from Marc, +6.1% from April 2014 NAR PR link.
Wednesday, May 20:
JPMorgan Chase(PBR20) announces settlements with the US Dept of Justice & the Federal Reserve related to foreign exchange activities $JPM PR link.
Johnson & Johnson(PBR39) to file 10 new drugs by 2019, each with the potential to generate more than $1 billion in revenues. $JNJ PR link.
Scotts Miracle-Gro(PBR701) pays $300 million to Monsanto(PBR173) for RoundUp brand extension into new lawn & garden categories & geographies. $SMG PR link.
Owens & Minor(PBR285) hires P Cody Phipps as President/CEO, effective 07/01/15, succeeds retiring James Bierman. $OMI PR link.
The Federal Open Market Committee releases its April meeting minutes, still wait & see on interest rates, based on employment, inflation rates. FOMC PR link.
Tuesday, May 19:
Computer Sciences Corp(PBR209) to split into 2 public companies, Global Commercial & US Public Sector, will pay special dividend of $10.50/share upon closing, expected by October. $CSC PR link.
Big Lots(PBR450) hires “Rocky” Robins, Jr, as General Counsel/Corporate Secretary, reports to President/CEO David Campisi. $BIG PR link.
FreddieMac(PBR33) in its May Economic and Housing Market Outlook sees interest rate volatility, higher home prices, slower growth. $FMCC PR link.
The US Dept of Commerce reports that April Private Housing Starts were at an annual rate of 1,135,000, +20.2% from March, +9.2% from April 2014. USDOC PR link.
Monday, May 18:
Apple(PBR4) buys high-precision GPS firm Coherent Navigation. BetaNews article link.
Archer-Daniels-Midland(PBR28) growing sweetener business in central & western China with acquisition of privately held Meiweiyuan Biotechnology. $ADM PR link.
Starbucks(PBR164) & Spotify to connect music streaming service to stores, rewards members, & users. $SBUX PR link.
Hertz(PBR249) to raise car-rental rates. MarketWatch article link.
The Andersons(PBR428) purchases Kay Flo Industries’ Plant Nutrient Group, sells 200,000 tons of liquid fertilizers. $ANDE PR link.
Ascena Retail(PBR493) to acquire women’s specialty fashion retail company ANN(PBR775) for $47/share, $2 billion. $ASNA PR link.
Endo International(PBR741) to acquire private generics company Par Pharmaceutical from TPG for $8.05 billion. $ENDP PR link.
GrafTech(PBR1056) to be acquired by Brookfield Asset Management(NYSE: BAM) for a tender offer of $5.05/share, $695 million. $GTI PR link.
Amgen(PBR144) hires Jon Graham as SVP, General Counsel/Secretary, effective 07/13/15, succeeds retiring David Scott, reports to Chairman/CEO Robert Bradway. $AMGN PR link.
C.H. Robinson(PBR211) promotes Mike Short to President, Global Forwarding division, reports to CEO John Wiehoff. $CHRW PR link.
Friday, May 15:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,272.56, +0.45% from last Friday, +2.42% MTD, +2.79% QTD, +2.52% YTD.
NASDAQ closes week at 5,048.29, +0.89% from last Friday, +2.16% MTD, +3.01% QTD, +6.59% YTD.
SPX closes week at 2,122.73(R), +0.31% from last Friday, +1.78% MTD, +2.65% QTD, +3.10% YTD.
TRW Automotive(PBR154) acquisition by Germany auto supplier ZF Friedrichshafen AG for around $11 billion is completed.
Molina Healthcare(PBR375) to acquire Medicaid and MIChild assets of HealthPlus in the State of Michigan. $MOH PR link.
General Dynamics(PBR91) Gulfstream Aerospace unit President Larry Flynn retiring on 06/30/15, Mark Burns to become President. $GD PR link.
The US Federal Reserve System G17 report says that April Industrial Production decreased 0.3%, 5th consecutive monthly loss. USFRS PR link.
Thursday, May 14:
eBay(PBR170) PayPal unit to trade as NASDAQ: PYPL, its original symbol before being acquired by eBay, upon spinoff later this year. PayPal article link.
The Mosaic Co(PBR265) authorizes $1.5 billion shares repurchase program, $500 million fast tracked. $MOS PR link.
Crown Castle(PBR670) selling Australian subsidiary to investment group headed by Macquarie Infrastructure(PBR1086) for $1.6 billion. $CCI PR link.
The US Dept of Labor reports that the April Producer Price Index fell 0.4%, last 12 mos final demand fell 1.3%. USDOL PR link.
Wednesday, May 13:
Hospira(PBR570) shareholders approve acquisition by Pfizer(PBR53) for $90/share, $17 billion, expects to close in 2nd half 2015. $HSP PR link.
Delta Air Lines(PBR78) authorizes new $5 billion shares repurchase program to be completed by 12/31/17. $DAL PR link.
Danaher(PBR139) to acquire filtration, separation, & purification products & services provider Pall Corp(PBR708) for $127.20/share, $13.8 billion. $DHR PR link.
Danaher(PBR139) to split into two public companies, a science/technology firm, & a diversified industrial growth company. $DHR PR link.
Southwest Airlines(PBR150) announces $1.5 billion shares repurchase program. $LUV PR link.
Precision Castparts(PBR275) authorizes additional $2 billion shares repurchase program through 06/30/17. $PCP PR link.
Owens-Illinois(PBR356) to acquire largest food & beverage glass container provider in Mexico, Vitro, for $2.15 billion cash. $OI PR link.
Williams Cos(PBR361) to acquire all public equity of natural gas products/services company Williams Partners(NYSE: WPZ) in $13.8 billion stock deal. $WMB PR link.
RadioShack(PBR619) brand name & customer data auctioned off to Standard General for $26.2 million. Dallas Morning News article link.
AIG(PBR41) promotes Brian Schreiber to new position of Chief Strategy Officer, reports to President/CEO Peter Hancock. $AIG PR link.
The Mosaic Co(PBR265) to promote EVP/COO Joc O’Rourke to President/CEO on 08/05/15, succeeds James Prokopanko, who is retiring. $MOS PR link.
The US Dept of Commerce reports that April Retail & Food Services Sales were $436.8 billion, same as March, 0.9% higher than April 2014. USDOC PR link.
The US Dept of Labor says April Import Prices fell 0.3%, -10.7% last 12 mos; Export Prices fell 0.7%, -6.3% last 12 mos. USDOL PR link.
Tuesday, May 12:
Verizon(PBR15) to acquire digital content/advertising company AOL(PBR812) for $50/share, $4.4 billion. $VZ PR link.
American Express(PBR86) authorizes 150 million shares buyback program, replaces previous program. $AXP PR link.
ConAgra Foods(PBR149) has acquired Concord, NH, based 60 employee natural & organic frozen meals maker Blake’s All Natural Foods, terms not disclosed. $CAG PR link.
ITT Educational(PBR1078) disputes SEC suit filed today regarding accounting irregularities. $ESI PR link.
ITT Educational(PBR1078), CEO Modany & CFO Fitzpatrick sued by SEC on fraud charges for accounting irregularities. SEC PR link.
FMC Technologies(PBR350) promotes EVP/COO Doug Pferdehirt to President, John Gremp keeps Chairman/CEO responsibilities. $FTI PR link.
Calpine Corp(PBR391) hires Trey Griggs III as EVP/Chief Commercial Officer, effective 06/01/15, reports to President/CEO Thad Hill. $CPN PR link.
The US Dept of Labor says end of March Job Openings were at 4.99 million, was 5.14 million at the end of February. USDOL PR link.
The US Dept of Treasury reports that the US Government April Receipts were at $471.8 billion, Surplus of $156.7 billion, Fiscal YTD Deficit now $282.8 billion. Treasury PR link.
Monday, May 11:
General Electric(PBR9) says it is open to concessions to get the European Union to okay the pending $13.5 billion deal for France based Alstom. MarketWatch article link.
Noble Energy(PBR467) enters Eagle Ford & Permian oil fields through acquisition of Rosetta Resources(NASDAQ: ROSE) for $2.1 billion in stock. $NBL PR link.
Comcast(PBR44) hires Carlyle Group(PBR528) executive Mike Cavanaugh to become CFO this summer. $CMCSA PR link.
Cameron Intl(PBR269) Pres/COO R Scott Rowe to become CEO on 10/05/15, Chairman/CEO Jack Moore to remain Chairman. $CAM PR link.
Tempur Sealy(PBR783) appoints COO Tim Yaggi as Interim CEO, elects Frank Doyle as Chairman. $TPX PR link.
Panera Bread(PBR794) hires former Darden(PBR393) Pres/COO Drew Madsen as President, former McDonald’s(PBR96) exec Ken Koziol as EVP. $PNRA PR link.
The US Dept of Interior conditionally approves Royal Dutch Shell Arctic drilling plan. MarketWatch article link.
Friday, May 8:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,191.11, +0.93% from last Friday, +1.97% MTD, +2.33% QTD, +2.06% YTD.
NASDAQ closes week at 5,003.55, -0.04% from last Friday, +1.26% MTD, +2.09% QTD, +5.65% YTD.
SPX closes week at 2,116.10, +0.37% from last Friday, +1.47% MTD, +2.33% QTD, +2.78% YTD.
Walmart(PBR1) Canada to acquire & renovate 13 former Target(PBR38) Canada stores, add 4,900 jobs. $WMT PR link.
Swiss based crop protection & seeds company Syngenta rejects Monsanto’s(PBR173) unsolicitied CHF449/share offer, says undervalued. Syngenta PR link.
Monsanto(PBR173) makes unsolicited offer for Swiss based crop protection & seeds company Syngenta for CHF449/share. $MON PR link.
Priceline(PBR365) announces acquisition of real-time hotel analytics firm PriceMatch. $PCLN PR link.
RadioShack(PBR619) name & intellectual property up for auction on Monday, 05/11/15. MarketWatch article link.
Tempur Sealy(PBR783) stockholders do not re-elect Chairman P Andrews McLane, President/CEO Mark Sarvary, & Director Christopher Masto to board. $TPX PR link.
The US Dept of Labor in April Employment Situation reports that 148.5 million people were employed at the end of April, 8.5 million unemployed, 5.4% unemployment rate. USDOL PR link.
The US Dept of Commerce says March Wholesale Sales were at $441.6B, -0.2% from February, -4.0% from March 2014. USDOC PR link.
Thursday, May 7:
Starbucks(PBR164) moving Ethos Water production from California to Pennsylvania because of drought. $SBUXL PR link.
Biogen(PBR358) authorizes $5 billion shares repurchase program with no expiration date. $BIIB PR link.
Asbury Automotive(PBR449) has acquired $70 million/yr Atlanta, GA, based Capital City Nissan, to be renamed Nalley Nissan Atlanta. $ABG PR link.
Alaska Air(PBR459) to be Gevo’s(NASDAQ: GEVO) commercial launch partner for renewable alcohol-based jet fuel. $ALK PR link.
SunEdison(PBR888) to acquire 7 renewable energy portfolios & corporate platforms In Brazil, China, India, Peru, Chile, South Africa, & Uruguay. $SUNE PR link.
Lumber Liquidators(PBR1093) provides update on laminate flooring sourced from China. $LL PR link.
Walt Disney(PBR54) promotes Leslie Ferraro to President, Disney Consumer Products, reports to Chairman/CEO Robert Iger & COO Thomas Staggs. $DIS PR link.
Church & Dwight(PBR645) to promote COO/CFO Matt Farrell to CEO, effective 01/01/16, upon retirement of James Craigie, who will continue to serve as non-executive Chairman. $CHD PR link.
The US Federal Reserve in its G19 report says 1st Quarter 2015 Consumer Credit was up at a 5.5% annual rate. FRB PR link.
Wednesday, May 6:
Whole Foods(PBR195) announces plans to open new brand stores in 2016 geared towards millenial shoppers. $WFM PR link.
Discover Financial(PBR281) selling its Diners Club Italia & Diner Club Card transaction processor Dinit to Swiss private bank Corner Bank. $DFS PR link.
Starwood Hotels(PBR405) plans to add 50 hotels by 2019 in the Middle East. $HOT PR link.
Wendy’s(PBR777) to sell non-core bakery business, on track to sell 540 corporate restaurants to franchisees. $WEN PR link.
Alexion Pharmaceuticals(PBR986) to acquire rare diseases therapies developer Synageva BioPharma(NASDAQ: GEVA) for $230/share, $8.4 billion net cash. $ALXN PR link.
AGL Resources(PBR507) appoints EVP/CFO Andrew Evans to President/COO. Elizabeth Reese promoted to EVP/CFO. $GAS PR link.
Dynegy(PBR1000) extends employment agreement with President/CEO Robert Flexon through April 2018. $DYN PR link.
Atmel(PBR1013) CEO Steven Laub to retire as of 08/31/15, search for internal/external candidates starts. $ATML PR link.
The US Dept of Labor reports that the 1st Quarter Labor Productivity Annual Rate was -1.9%, output -0.2%, hours worked +1.7%. USDOL PR link.
Tuesday, May 5:
Archer-Daniels-Midland(PBR28) to acquire full ownership of strategically located Black Sea export terminals. $ADM PR link.
Wells Fargo(PBR29) is sued by the City of Los Angeles for opening unauthorized accounts. $WFC PR link.
HCA(PBR76) approves $1 billion shares buyback program, 3 year capital plan upped to $7.7 billion. $HCA PR link.
Macy’s(PBR97) to open 4 30,000 sf Backstage pilot off-price stores in metro New York City in the fall of 2015. $M PR link.
Sprint(PBR162) reports 1.2 million net additions in 4th quarter 2014 compared to net losses of 383,000 in 4th quarter 2013. $S PR link.
Pitney Bowes(PBR579) to acquire global ecommerce solutions company Borderfree for $14/share, $395 million cash in aggregate. $PBI PR link.
Arthur J Gallagher(PBR647) acquires Toronto, ON, based McDowall Associates Human Resource Consultants. $AJG PR link.
Arthur J Gallagher(PBR647) acquires Calgary, AB, based employee benefits provider Vital Benefits. http://bit.ly/1c3JR6M$AJG PR link.
Occidental Petroleum(PBR107) promotes Vicki Hollub to President of Worldwide Oil & Gas operations, to succeed Stephen Chazen as CEO after a transition period. $OXY PR link.
Micron Technology(PBR166) hires Ernie Maddock as CFO & VP of Finance effective 06/01/15. $MU PR link.
Hubbell(PBR646) appoints Kevin A. Poyck, Rodd R. Ruland and Darrin S. Wegman Group Presidents for its Lighting, Construction and Energy, and Commercial and Industrial businesses, respectively, effective June 1, 2015, all report to Chairman/President/CEO David Nord. $HUBA PR link.
The US Dept of Commerce reports that March US International Trade Exports were at $187.8 billion, Imports $239.2 billion, for a deficit of $51.4 billion, February deficit was $35.9 billion. USDOC PR link.
Monday, May 4:
Comcast(PBR44) plans to use $6.75 billion in 2015 for shares repurchase program. $CMCSA PR link.
Google(PBR46) acquires Timeful to develop scheduling apps for its products. $GOOGL PR link.
McDonald’s(PBR96) to restructure on 07/01/15 into 4 business units: US, International Lead, High-Growth, & Foundational Markets. $MCD PR link.
Coach(PBR490) completes acquisition of women’s luxury footwear designer & manufacturer Stuart Weitzman from private equity firm Sycamore Partners for up to $574 million cash. $COH PR link.
Patterson Cos(PBR563) to acquire production distribution company Animal Health International for $1.1 billion cash. $PDCO PR link.
Arthur J Gallagher(PBR647) acquires Charlotte, NC, based credit union executive compensation consulting services firm Burns-Fazzi, Brock & Associates. $AJG PR link.
Ciena Corp(PBR870) to acquire network management software developer Cyan(NYSE: CYNI) for $400 million. $CIEN PR link.
Corinthian Colleges(PBR974) files for Chapter 11 bankruptcy. Reuters article link.
Cisco Systems(PBR58) SVP Worldwide Operations Chuck Robbins to become CEO 07/26/15; Chairman/CEO John Chambers to become Executive Chairman. $CSCO PR link.
Chesapeake Energy(PBR152) hires Frank Patterson as EVP Exploration, Land & Subsurface Technology, reports to CEO Doug Lawler. $CHK PR link.
Arthur J Gallagher(PBR647) hires Sean Connelly as Global Chief Information Officer. $AJG PR link.
The US Dept of Commerce reports that March New Orders for Manufactured Goods were at $476.5 billion, +2.1% from February, 1st increase in 7 months. USDOC PR link.
Friday, May 1:
The PBR1000 Weekly US Stock Exchanges Snapshot:
DJIA closes week at 18,024.06, -0.31% from last Friday, +1.03% MTD, +1.39% QTD, +1.13% YTD.
NASDAQ closes week at 5,005.39, -1.70% from last Friday, +1.29% MTD, +2.13% QTD, +5.69% YTD.
SPX closes week at 2,108.29, -0.44% from last Friday, +1.09% MTD, +1.95% QTD, +2.40% YTD.
The PBR1000 April 2015 Breaking News Recap is at: Link.
Arrow Electronics(PBR129) completes acquisition of Taiwan based $500 million/yr Asian electronic component distributor ATM Electronic Corp. $ARW PR link.
Harley-Davidson(PBR417) President/COO Matt Levatich now President/CEO. $HOG PR link.
Arthur J Gallagher(PBR647) acquires Kansas City, MO, national healthcare human resources consulting company Integrated Healthcare Strategies. $AJG PR link.
International Flavors & Fragrances(PBR677) completes acquisition of flavors technologies company Henry H. Ottens Manufacturing. $IFF PR link.
The US Dept of Commerce says March US Construction Annual Spending Rate at $966.6B, -0.6% from Feb, +2.0% from March 2014. USDOC PR link.
(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, Stuart Miles.)
