The PBR1000 September 2018 Breaking News Items
Despite stormy clouds and contentious times, we hold up hope that Democracy and Freedom will continue to prevail.
By Larry C. Paxton
September featured a major weather event when Hurricane Florence wreaked havoc on the Carolinas, Georgia, and Virginia. However, there were also several other types of storms as well. US/China trade continues to be contentious, with the US imposing more tariffs on China. However, the US did sign a trade deal with S Korea. Congress avoided another government shutdown by passing a short term spending bill. The Federal Reserve raised the federal short term interest rates by 0.25%. Tech stocks took a bit of a beating during the month. At the end of the month the biggest storm swirled around the Brett Kavanaugh nomination for the Supreme Court, with accusations of sexual misconduct from high school years, which are now being investigated by the FBI. Expect even more turbulence as US election campaigning becomes center stage.
Here are The PBR1000 corporate, stock market, and economic related breaking news items of interest with hotlinks to the sources for September 2018, starting with the last active business day
***Friday, September 28:
The PBRMarketTools US Stock Exchanges Recap for the Week and Month Ending 09/28/18:
DJIA ends week and month at 26,458.31, -1.57% from last Friday, +1.90% MTD, +9.01% QTD, +7.04% YTD, -1.07% from record 26,743.50 set 09/21/18.
NASDAQ ends week and month at 8,046.35, +0.74% from last Friday, -0.78% MTD, +7.14% QTD, +16.56% YTD, -0.78% from record 8,109.69 set 08/29/18.
SPX ends week and month at 2,913.98, -0.54% from last Friday, +0.43% MTD, +7.20% QTD, +8.99% YTD, -0.57% from record 2,930.75 set 09/20/18.
Weekly/Monthly US Stock Exchanges Summary: For the week the Stock Market Bear took the DJIA and SPX exchanges, but not the NASDAQ for a mixed result for the week. For the month the results were reversed with the Stock Market Bull winning the DJIA and SPX but the Stock Market Bear taking the NASDAQ for a mixed month.
Month 9 YTD tally is:
The Stock Market Bull: 5 months
The Stock Market Bear: 2 months
Mixed Results: 2 months
Week 39 YTD tally is:
The Stock Market Bull: 17 weeks
The Stock Market Bear: 13 weeks
Mixed Results: 9 weeks
Weekly News Summary: Economic news continues to be robust per a 2Q18 final revision 4.2% annual growth rate and the Federal Open Market Committee raising the federal funds interest rate by +0.25% to 2.00-2.25%;US/China trade relations remain unsettled as as new tariffs are imposed; college professor Christine Blasey Ford and Supreme Court nominee Brett Kavanaugh testify before the Senate Judiciary Committee about Ford’s allegation that Kavanaugh made an unwanted sexual advance on her over 36 years ago when they were in high school, the Committee votes 11-10 along party lines to send Kavanaugh’s nomination to the full Senate, but asking for a week delay for an FBI investigation into the incident.
Walgreens Boots Alliance(PBR19) to pay $34.5 million penalty per agreement with the US Securities and Exchange Commission (SEC)to fully resolve an investigation into forward-looking financial goals and related disclosures by predecessor organization Walgreen Co, does not affect any current officers or board members. $WBA PR link.
Microsoft(PBR22 $MSFT) Azure platform selected by Volkswagen as the foundation for Automotive Cloud and connected car services for its fleet. Volkswagen PR link.
Lockheed(PBR57) finalizes agreement with US Dept of Defense to produce and deliver 141 F-35 aircraft for $11.5 billion, lowest per aircraft price in program history. $LMT PR link.
Facebook(PBR69) discovers a security issue affecting almost 50 million accounts using the View As option, vulnerability has been fixed, law enforcement agencies notified, reset access tokens on the 50 million plus an additional 40 million accounts, has temporarily disabled the View As option as investigation continues. $FB PR link.
Regeneron(PBR459) gets US FDA approval for Libtayo® (cemiplimab-rwlc) for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation. $REGN PR link.
Oracle(PBR77) President/Product Development Thomas Kurian resigns effective immediately to pursue other opportunities. $ORCL PR link.
Stericycle(PBR636) hires Cindy J. Miller as President/COO, effective 10/01/18, succeeds Brent Arnold who will be departing by end of 2018. $SRCL PR link.
The US Dept of Treasury says the US National Debt on 09/27/18 was at Public Debt $15.733 trillion, Intragovernmental Holdings $5.699 trillion, Total National Debt $21.432 trillion. USTreasury PR link.
The US Dept of Commerce/BEA says US Preliminary August 2018 Total Personal Income Annual Rate is at $17.680 trillion, +0.3% from July 2018, +7.4% from August 2017. USDOC PR link.
The Federal Reserve Bank of Chicago says the US 7th District Preliminary August 2018 Midwest Economy Index is at +0.42, July 2018was at +.43, indicates growing faster than the US overall. ChiFed PR link.
The MNI September 2018 Chicago Business Barometer(>50=economy gaining) is at 60.4, indicates business operations continued to improve at a solid clip, August 2018 was 63.6, July 2018 65.5, September 2017 65.2. MNI/Chicago ISM PR link.
The U of Michigan US Final September 2018 Consumer Sentiment Index is at 100.1, August 2018 was 96.2, July 2018 97.9, September 2017 95.1. UMichigan PR link.
The American Automobile Assn says US National Average Price of Regular Gas on 09/28/18 was at $2.875/Gallon, +1.3% from 08/31/18, +12.0% from 09/29/17. AAA PR link.
Sample Commodities:
Gold(GCZ8) on 09/28/18 closes at $1,196.20/ounce, 08/31/18 was 1,206.90, 07/31/18 1,232.50, 09/29/17 1,282.50.
Oil(CLX8) on 09/28/18 closes at $73.56/barrel, 08/31/18 was $69.88, 07/31/18 $68.42, 09/29/17 $51.64.
Soybeans(SX8) on 09/28/18 closes at $8.4425/bushel, 08/31/18 was $8.4550, 07/31/18 $9.1800, 09/29/17 $9.6775.
The US Dept of Treasury says US 10 Year Treasury Notes on 09/28/18 are at 3.05%, 08/31/18 was 2.86%, 07/31/18 2.96%, 09/29/17 2.33%.
***Thursday, September 27:
Aetna(PBR48) to sell its entire standalone Medicare Part D prescription drug plan business, effective 12/31/18, includes approximately 2.2 million members at 06/30/18, to a subsidiary of WellCare Health Plans(PBR166). $AET PR link.
Lockheed(PBR57) adds up to $1.0 billion to share repurchase program, balance is $3.7 billion. $LMT PR link.
Eli Lilly(PBR121) gets US FDA approval for Emgality™ (galcanezumab-gnlm) 120 mg injection for the preventive treatment of migraine in adults. $LLY PR link.
Carnival Corp(PBR160) does second replenishment of $1.0 billion repurchase program this year. $CCL PR link.
Hormel Foods(PBR312) will be investing approximately $150 million in an 210,000 sf expansion of the company’s Burkemanufacturing facility in Nevada, IA, will add 210 jobs to current 350. $HRL PR link.
Quest Diagnostics(PBR356) has acquired Seattle, WA, national provider of specialized anatomic pathology (AP) and related services PhenoPath. $DGX PR link.
Diplomat Pharmacy(PBR536) opens a 75,000 sf facility in Chandler, AZ, to bolster pharmacy operations and ensure business continuity, expects to create 200 jobs over next year. $DPLO PR link.
Global Payments(PBR660) to acquire enterprise, cloud-based software as a service (SaaS) solutions and other technologies to quick service and fast casual restaurants, as well as food service management provider SICOM Systems from LLR Partners for around $415 million, to close in 4Q18. $GPN PR link.
Cigna(PBR66) announces leadership team when $96.18/share equivalent, $67 billion cash/stock acquisition of Express Scripts(PBR26 $ESRX) is completed, Cigna President/CEO David M. Cordani to be President/CEO of combined company. $CI PR link.
Voya Financial(PBR329) Chairman/CEO Rodney O. Martin, Jr, gets extension of employment agreement to 12/31/20, with an option, exercisable until 07/01/20, to further extend such term to 12/31/21. $VOYA PR link.
JCPenney(PBR229) EVP/CFO Jeffrey Davis resigns, effective 10/01/18, SVP/Finance Jerry Murray named interim CFO. $JCP PR link.
AutoZone(PBR268) EVP/Mexico, Brazil and Store Development, Customer Satisfaction Bill Graves to retire in early 01/19, VP/President AutoZone de Mexico Domingo Hurtado promoted to the newly-created position of SVP/International, Customer Satisfaction. $AZO PR link.
The US Dept of Commerce says US 3rd Estimate 2Q18 Real Gross Domestic Productis at 4.2%, $20.411 trillion, +1.9% from 1Q18, +5.4% 2Q17. USDOC PR link.
The US Dept of Labor says US Initial Unemployment Insurance Claims 4 Week Average On 09/22/18 were a 206,250, -2.8% from 08/25/18, -25.7% from 09/23/18. USDOL PR link.
FreddieMac(PBR38) says US Average 30 Year Fixed Home Mortgage Rate on 09/27/18 was at 4.72% with 0.5 fees & points, 08/30/18 was 4.52%, 12/28/17 3.99%, 09/28/18 3.83%. $FMCC PR link.
***Wednesday, September 26:
Home Depot(PBR23) now offering express same-day and next-day local delivery for more than 20,000 of its most popular items to 35 major metros across the US with delivery options starting at $8.99. $HD PR link.
21st Century Fox(PBR92) to sell its stake in UKbased Sky plc to Comcast(PBR33) for around $15 billion. $FOX PR link.
DXC Technology(PBR114) to acquire Australiabased Platinum Salesforce(PBR275) Partnercompany Systems Partners, has 100+ Salesforce certified consultants. $DXC PR link.
FirstEnergy(PBR208) gets approval of Chapter 11 plan for FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC). $FE PR link.
AutoZone(PBR268) authorizes repurchase of an additional $1.25 billion of it’s common stock in connection with its ongoing share repurchase program. $AZO PR link.
Alexion Pharmaceuticals(PBR639) to acquire clinical-stage biotechnology company developing antibody therapeutics targeting the neonatal Fc receptor (FcRn) Syntimmune for $400 million upfront plus up to $800 million for milestone achievements, to close in 4Q18. $ALXN PR link.
USG Corp(PBR680) shareholders approve $44/share, $7.7 billion cash acquisition by Germany based Gebr. Knauf KG, to close in early 2019. $USG PR link.
Merck(PBR73) rescinds CEO mandatory retirement at age 65 policy, CEO Kenneth C. Frazier agrees to stay in position beyond 12/31/19, when he turns 65. $MRK PR link.
Sonic Automotive(PBR290) Co-Founder B. Scott Smith resigns as President/CEO and director, effective immediately, to take another role in the company, Executive Vice Chairman/Chief Strategic Officer David Bruton Smith elected CEO, EVP/Operations Jeff Dyke elected President. $SAH PR link.
LifePoint Health(PBR378) Chairman/CEO Bill Carpenter to retire upon completion of pending $65.00/share, $5.6 billion acquisition by RCCH HealthCare Partners, anticipated by end of 2018, will then join the merged organization’s Board of Directors, President/COO David Dill will assume the role of CEO for LifePoint upon Carpenter’s retirement. $LPNT PR link.
Northrop Grumman(PBR111) hires Ann Addison as Corporate VP, effective 10/22/18, and Chief Human Resources Officer, effective 01/01/19, will succeed Denise Peppard who retires in 03/19. $NOC PR link.
Modine Manufacturing(PBR856) to promote VP/Global Operations Scott Bowser to VP/COO, effective 01/01/19, will succeed retiring Tom Marry. $MOD PR link.
Vail Resorts(PBR874) promotes Timothy April to SVP/Chief Information Officer, effective 10/29/18, succeeds Robert Urwiler who is retiring after 12 years with the company. $MTN PR link.
TEGNA(PBR876) promotes Akin Harrison to SVP/General Counsel & Secretary, to be effective upon retirement of Todd Mayman in early 2019. $TGNA PR link.
The Federal Reserve Open Market Committee meeting issues a statement from its concluded meeting, raises the federal funds rate 0.25% to 2.00%-2.25%, says labor market has continued to strengthen and that economic activity has been rising at a strong rate, inflation rateremains around target of 2%, risks to the economic outlook appear roughly balanced. FOMC PR link.
The US Dept of Commerce says US Preliminary August 2018 New Family Homes Sold Annual Rate is at 629,000, +3.5% from July 2018, +12.7% from August 2017; August 2018 Median Sales Price is at $320,200, -2.4% from July 2018, +1.9% from August 2017. USDOC PR link.
The US Energy Information Administrationsays US Crude Oil Stockpiles on 09/21/18were at 396.0 million barrels, -2.4% from 08/24/18, -15.9% from 09/22/17. USEIA PR link.
The US Dept of Commerce/BEA says the US Preliminary 2Q18 Net International Investment Position for Total Assets is at $27.064 trillion, Total Liabilities $35.702 trillion, for a Total Deficit of $8.639 trillion, +11.5% from 1Q18, +9.9% from 2Q17. USDOC PR link.
***Tuesday, September 25:
Boeing(PBR30) completes acquisition of El Segundo, CA, based 260 employees, agile, flight-proven small-satellite solutions provider Millennium Space Systems, terms not disclosed. $BA PR link.
Comcast(PBR33) has acquired just under 500 million shares of UK based Sky plc at around $22.46/share, now owns 29.1% of Sky as share acquisitions continue. $CMCSA PR link.
Qualcomm(PBR125 $QCOM) accuses Apple(PBR4 $AAPL) of stealing its secrets to help Intel(PBR45 $INTC). Reuters PR link.
Kohl’s(PBR149) to launch new women’s private-label plus brand EVRI in Spring, 2019, at which time it will also will roll out its Nike Plus offering. $KSS PR link.
Kohl’s(PBR149) collaborates with Drew and Jonathan Scott, stars of HGTV’s Property Brothers, to launch exclusive lifestyle collection Scott Living, for Fall 2019, will feature modern home basics and décor. $KSS PR link.
Henry Schein(PBR232) expands its global dental implant business with acquisition of USbased dental implant company Intra-Lock, majority interest in German dental implant company Medentis Medical, majority interest in Pro-Cam Implants, CAMLOG‘s exclusive distributor in the Netherlands, terms not disclosed. $HSIC PR link.
eBay(PBR299) begins intermediating payments on its Marketplace platform in the US. $EBAY PR link.
Fiserv(PBR469) to acquire the debit card processing, ATM Managed Services and MoneyPass® surcharge free network of Elan Financial Services, a unit of US Bancorp(PBR117), which does around $170 million/year in revenues, for $690 million. $FISV PR link.
Michael Kors(PBR525) to acquire Italian luxury fashion house Gianni Versace SpA for around $2.12 billion, to close by 03/31/19, at which time Michael Kors will become Capri Holdings Limited(NYSE: CPRI). $KORS PR link.
Trinity Industries(PBR617) board approves separation of infrastructure company Arcosa, to begin trading as NYSE: ACA on 11/01/18. $TRN PR link.
KKR(PBR679) forms SinoCare Group, a hospital investment and management platform company in China, to provide high-quality health care services to patients in China through the acquisition, build-out and consolidation of hospitals, has acquired a majority stake in leading Chinese hospital management company, HeTian Hospital Management Co, terms not disclosed. $KKR PR link.
Square(PBR840) introduces the Square Payrollapp. $SQ PR link.
Dun & Bradstreet(PBR907) $145.00/share, $6.9 billion cash acquisition by Star Parent Group to be voted on at special shareholders meeting on 11/07/18, to close by 03/31/19 if approved. $DNB PR link.
Nelnet(PBR988) withdraws its application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Dept of Financial Institutions (UDFI) to establish Nelnet Bank, a Utah-chartered industrial bank, application was filed on 06/28/18, says it is a temporary step back in a long process. $NNI PR link.
Ryder(PBR375) EVP/CFO Art Garcia to retire on 04/30/19, after 20 years with company. $R PR link.
Moody’s(PBR570) hires Mona Breed as Chief Information Officer, effective 10/15/18, succeeds retiring Tony Stoupas. $MCO PR link.
The Federal Reserve Bank of Richmond says the US 5th District September 2018 Service Sector Revenue Index(Annualized) is at +18%, suggesting softening growth, but survey respondents reported growing demand and improving local business conditions, August 2018 was +31%, July 2018 +23%, September 2017 +22%. RichmondFed PR link.
The Federal Reserve Bank of Richmond says the US 5th District September 2018 Manufacturing Index(Annualized) is at +29%, survey respondents were optimistic, expecting growth to continue in the next six months, August 2018 was +24%, July 2018 +20%, September 2017 +19%. RichmondFed PR link.
The Conference Board says the US Preliminary September 2018 Consumer Confidence Index(1985=100) is at 138.4, consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth, August 2018 was 134.7. TCB PR link.
The S&P CoreLogic Case-Shiller US August 2018 National Home Price Index(01/2000=100)is at 205.35, July 2018 was 204.44, June 2018202.87, August 2017 194.57. Case-Shiller PR link.
***Monday, September 24:
The August 2018 Snapshot 3 Summary: The PBR1000 Top 5 By Increase In Revenues(Rank, Company, PBR Ranking by Revenues, Stock Symbol, Revenues(Fiscal Year), % Increase from Previous Fiscal Year):
1. Cheniere Energy(PBR472 LNG), $5.6 billion(2017), +337%
2. Colony Capital(PBR735 CLNY), $2.8 billion(2017), +233%
3. DXC Technology(PBR114 DXC), $24.6 billion(2018), +223%
4. Range Resources(PBR768 RRC), $2.6 billion(2017), +137%
5. Molson Coors(PBR266 TAP), $11.0 billion(2017), +125%
Range: +337% to -30%
Number of Companies at +0.00% or Better:819/1,000
Median: +6.32%
Total The PBR1000 Revenues(Last Fiscal Years): $13.964 trillion
Microsoft(PBR22) fortifies security with introduction of Microsoft Secure Score and Microsoft Authenticator, brings AI to the masses at its Ignite 2018 event. $MSFT PR link.
Comcast(PBR33) wins auction against 21st Century Fox(PBR101) for UK based media company Sky plc for around $22.46/share vs $20.37/share, transaction valued at $40 billion, to close in 10/18. $CMCSA PR link.
Kraft Heinz(PBR106) Canada unit completes acquisition of Vancouver, CAN, based 100% Fairtrade, certified organic coffee roaster Ethical Bean Coffee, terms not disclosed. $KHC PR link.
Sears(PBR169) receives proposal from CEO Edward Lampert’s ESL Investments to sell certain assets to reduce debt. $SHLD PR link.
BlackRock(PBR231) completes acquisition of Citigroup(PBR32)‘s $31 billion in assets, 1,500 branches 20 million customers Mexico based subsidiary Citibanamex, terms not disclosed. $BLK PR link.
Salesforce(PBR275) to work with Apple(PBR4)to redesign its app to embrace the native mobile platform with exclusive new features on iOS, companies will also provide tools and resources for millions of Salesforce developers to build their own native apps with a new Salesforce Mobile SDK for iOS, and a new iOS app development course on Trailhead, Salesforce’s free, web-based learning platform. $CRM PR link.
Boston Scientific(PBR315) gets US FDA approval for the Eluvia™ Drug-Eluting Vascular Stent System, specifically developed for the treatment of peripheral artery disease. $BSX PR link.
Host Hotels(PBR484) sells New York Marriott Marquis retail, theater, and signage commercial condominium units to Vornado Realty Trust(PBR852) for $442 million, sold the W New York – Union Square for $171 million on 09/06/18. $HST PR link.
Camping World(PBR565)‘s RV and outdoor lifestyle organization, the Good Sam Club, has surpassed the Two Million Member mark. $CWH PR link.
Symantec(PBR586) Board’s Audit Committee completes investigation, does not anticipate a restatement or adjustment of any audited or unaudited, filed or previously announced, GAAP or non-GAAP financial statements, except for one $13 million transaction that should have $12 million deferred, notes other findings, targeting 10-K filing by 10/27/18. $SYMC PR link.
Weight Watchers(PBR974) to change name to WW, with new tagline “Wellness That Works,™” launching several new apps on 10/04/18, new brand to debut in late 12/18. $WTW PR link.
Lockheed(PBR57) promotes Robert Mullins, PhD, to SVP/Corporate Strategy & Business Development, succeeds Stephanie Hill who becomes Deputy EVP/Rotary & Mission Systems, both effective 10/08/18. $LMT PR link.
Facebook(PBR69) Instagram unit’s co-founders CEO Kevin Systrom and Mike Krieger leaving Instagram “to explore their curiosity and creativity again.” $FB PR link.
McDonald’s(PBR123) President/International Lead Markets & Chief Restaurant Officer Doug Goare to retire on 12/31/18 after 40 years with company; on 01/01/19 McDonald’s to restructure global organization structure into US, International Operated Markets, and International Developmental Licensed Markets business segments. $MCD PR link.
CenturyLink(PBR160) EVP/CFO Sunit Patel resigns for executive role in another company, Group VP/Finance Neel Dev appointed interim CFO, search starts. $CTL PR link.
Caesars Entertainment(PBR518) hires Monica S. Digilio as EVP/Chief Human Resources Officer. $CZR PR link.
Triumph Group(PBR687) hires Jennifer Allen as SVP/General Counsel & Secretary. $TGI PR link.
Cognizant(PBR192) elects Michael Patsalos-Fox as Chairman, succeeds John E. Klein, Chairman for 15 years, who remains on the Board. $CTSH PR link.
Ulta Beauty(PBR457) non-executive Chairperson Charles J. Philippin to resign for health reasons on 09/30/18, director Robert F. DiRomualdo named as successor. $ULTA PR link.
The Federal Reserve Bank of Chicago says the US Preliminary August 2018 National Activity Index is at +0.18, which points to steady economic growth in August, July 2018was also at +0.18, June 2018 was +0.36, August 2017 -0.08. ChiFed PR link.
FreddieMac(PBR38) says economy and job market doing well, but housing market has essentially stalled because of weaker affordability, homebuilder constraints and ongoing supply and demand imbalances, expects 2018 home sales to come in just below 2017’s level. $FMCC PR link.
CoreLogic says the Hurricane Florence related flood loss for residential and commercial properties in N Carolina, S Carolina and Virginia is estimated to be between $19 billion and $28.5 billion, includes both storm surge and inland flooding. Specifically, uninsured flood loss for the same area is estimated to be between $13 billion and $18.5 billion. Wind losses are estimated to be an additional $1 billion to $1.5 billion. $CLGX PR link.
***Friday, September 21:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 09/21/18:
DJIA ends week at record 26,743.50, +2.25% from last Friday, +3.00% MTD, +10.19% QTD, +8.19% YTD, +0.00% from record 26,743.50 set 09/21/18.
NASDAQ ends week at 7,986.96, -0.29% from last Friday, -1.51% MTD, +6.35% QTD, +15.70% YTD, -1.51% from record 8,109.69 set 08/29/18.
SPX ends week at 2,929.67, +0.85% from last Friday, +0.97% MTD, +7.77% QTD, +9.58% YTD, -0.04% from record 2,930.75 set 09/20/18.
Weekly US Stock Exchanges Summary: The Stock Market Bull wins the DJIA and SPX for the week, but the Stock Market Bear managed to take a big enough bite out of the NASDAQ on Friday to take that exchange resulting in a mixed week.
Week 38 YTD tally is:
The Stock Market Bull: 17 weeks
The Stock Market Bear: 13 weeks
Mixed Results: 8 weeks
Weekly News Summary: Economic newscontinues to show modest/moderate growth, US/China trade relations unsettled as the US imposes new tariffs, Tech sector had a weak week, Hurricane Florence leaves the Carolinas with flooding and a lot of cleanup needed, Supreme Court nominee Brett Kavanaughgets most of the news with allegations of a sexual misconduct incident while in high school, Senate vote delayed until more hearings are held.
AIG(PBR58) to acquire privately held York, PA, 500 associates serving 30,000 insureds full-service broker and insurance services provider Glatfelter Insurance Group, terms not disclosed. $AIG PR link.
Avon Products(PBR468) targeting $400 million in cost savings by 2021, investing $300 million in commercial initiatives and digital & IT infrastructure initiatives. $AVP PR link.
Peabody Energy(PBR473) to acquire the Shoal Creek metallurgical coal mine from private coal producer Drummond Co for $400 million, located on the Black Warrior River in Central Alabama, serves Asian and European steel mills with high-vol A coking coal, sold 2.1 million tons in 2017. $BTU PR link.
First Data(PBR245) hires Bala Janakiramanas as head of Partner Solutions, includes BluePay unit for which he was CEO before it was acquired by First Data. $FDC PR link.
E*Trade(PBR811) CFO Michael A. Pizzi becomes COO, retains CFO responsibilities. $ETFC PR link.
***Thursday, September 20:
The August 2018 Snapshot 15 Summary: The PBR1000 Top 5 Stocks By Market Capitalization(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 08/31/18 Market Capitalization in Billions):
1. Apple(PBR4 AAPL), $1,090
2. Amazon(PBR8 AMZN), $977,
3. Alphabet(PBR21 GOOG), $867
4. Microsoft(PBR22 MSFT), $858
5. Berkshire Hathaway(PBR3 BRKB), $519
Range: $1,090 to $0.04 billion
Total: $27.798 trillion, +3.07% from July 2018, +7.42% YTD(8 months), +27.54% from 12/30/16(20 months)
Average: $27.798 billion
Median: $8.32 billion
Amazon(PBR8) announces several new Echoproducts. $AMZN PR link.
Amazon(PBR8) Alexa Guard security system to integrate with ADT(NYSE: ADT)’s Pulse system by end of year. $AMZN PR link.
Walgreens Boots Alliance(PBR19) launches flagship store on China based Alibaba Group’s Tmall Global Platform to sell its own beauty brands to Chinese consumers. $WBA PR link.
Wells Fargo(PBR27) announces transformation plans, includes reducing 260,000+ employee force by 5-10% over 3 years. $WFC PR link.
Comcast(PBR33 $CMCSA) and 21st Century Fox(PBR101 $FOX) get rules from the UK Takeover Panel in final bid for Sky plc in an auction format. -UK Takeover Panel PR link.
American Airlines(PBR64) raises baggage fees by $5 for 1st and 2nd check bags to $30 and $40, still waived for some member types. $AAL PR link.
Delta(PBR68) in partnership with US Customs and Border Protection, Hartsfield-Jackson Atlanta International Airport (ATL) and the Transportation Security Administration (TSA), to launch the first biometric terminal in the US at Maynard H. Jackson International Terminal (Terminal F) in Atlanta later this year. $DAL PR link.
Medtronic(PBR94) to acquire Israel based robotic guidance systems pioneer Mazor Robotics (NASDAQ:MZOR, TASE:MZOR.TZ)for around $1.64 billion, to close by 01/25/19. $MDT PR link.
Cummins(PBR143) gets agreement to develop and supply to KAMAZ high-voltage fully electric powertrain prototypes with applications for city buses and medium range delivery trucks, to also provide development and supply of the hybrid transmission prototype designed for KAMAZ heavy duty trucks. $CMI PR link.
Gap Inc(PBR175) to launch Hill City, a high performance men’s apparel brand offering technical clothing that transitions seamlessly through the day— from working out to work to weekend, to be available online and in select stores starting mid 10/18. $GPS PR link.
PayPal(PBR219) completes $2.2 billion acquisition of iZettle, expands omnichannel presence in small businesses in Europe and Latin America. $PYPL PR link.
Consolidated Edison(PBR246) to acquire a Sempra Energy(PBR261) subsidiary for $1.54 billion that owns 981 megawatts (MW) AC of operating renewable electric production projects , to close by 12/31/18. $ED PR link.
Tesla(PBR250 $TSLA) 2018 Model 3 RWD gets an overall 5 star safety rating from the US Natl Highway Traffic Safety Administration. NHTSA PR link.
Adobe Systems(PBR377) to acquire 5,000 customers cloud platform for B2B marketing engagement provider Marketo for $4.75 billion, to close by 11/30/18. $ADBE PR link.
Blackstone(PBR385) Real Estate Income Trust unit completes acquisition of the EdR Student Housing Portfolio for $1.2 billion in a 95%/5% joint venture with Greystar Real Estate Partners. $BX PR link.
Barnes Group(PBR961) to acquire privately held Italy based robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components designer and developer Gimatic Srl for around $430 million, to close in 4Q18. $B PR link.
GoPro(PBR994) introduces HERO7 Black, includes video stabilization feature HyperSmooth, $399, $299 HERO7 Silver and $199 HERO7 White round out new product line-up. $GPRO PR link.
Micron Technology(PBR145) promotes Mike Bokan to SVP/Worldwide Sales, effective 10/01/18, to succeed retiring Steve Thorsen. $MU PR link.
Goodyear Tire(PBR184) re-hires Darren Wells as EVP/CFO, succeeds Laura Thompson who is retiring in 1Q19. $GT PR link.
Michael Kors(PBR525) hires Andrea Pesaresi as President/Men’s, effective 10/15/18. $KORS PR link.
The US Federal Reserve says US 2Q18 Total Networth of Households & Non-Profits is at $106.929 trillion, +2.1% from 1Q18, +8.2% from 2Q17; US 2Q18 Total Domestic Nonfinancial Debt Outstanding is at $50.710 trillion, +1.6% from 1Q18, +5.6% from 2Q17. USFed PR link.
The Federal Reserve Bank of Philadelphiasays the 3rd District September 2018 Manufacturing General Activity Indicator is at 22.9, August 2018 was at 11.9, July 2018 25.7, September 2017 25.8. PhillyFed PR link.
The Natl Assn of Realtors says US August 2018 Existing Home Sales Annual Rate was 5,340,000, +0.0% from July 2018, -1.5% from August 2017; August 2018 Median Price is at $264,800, -1.8% from July 2018, +4.6% from August 2017. NAR PR link.
The Conference Board says US Preliminary August 2018 Leading Economic Indicator(2016=100) is at 111.2, July 2018 was at 110.8, June 2018 110.0, December 2017107.2. TCB PR link.
***Wednesday, September 19:
The August 2018 Snapshot 13 Summary: The PBR1000 Top 5 Stock Performers Since 12/30/16(20 Months)(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 08/31/18 Stock Price, % Increase from 12/30/16):
1. Weight Watchers(PBR974 WTW), $74.90, +554%
2. Square(PBR841 SQ), $88.64, +550%
3. RH(PBR801 RH), $159.00, +418%
4. BlueLinx(891 BXC, $35.93, +381%
5. Systemax(PBR980 SYX), $36.50, +316%
Range: +554 to -92%
Number of Companies at 0% or Better:690/995
Average: +24.85%
Median: +16.25%
DJIA: +31.38%
NASDAQ: +50.65%
SPX: +29.60%
Tomorrow: The PBR1000 August 2018 Top 5 By Market Capitalization.
McDonald’s(PBR123) non-taxation of certain profits in Luxembourg did not lead to illegal State aid, as it is in line with national tax laws and the Luxembourg-US Double Taxation Treaty, says European Commission on Competition. $MCD PR link.
MasterCard(PBR233) announces multi-year partnership with Riot Games to become the first global sponsor for League of Legends esports, the largest esport in the world. $MA PR link.
MGM Resorts(PBR270) to acquire all of the operating assets of 700 employees $293 million in revenues for 12 months ending 06/30/18 Hard Rock Rocksino Northfield Park in Northfield, OH, from MGM Growth Properties(NYSE: MGP) for $275 million, to close in 1H19. $MGM PR link.
Avon Products(PBR468) to consolidate USoperations into its existing facilities in Suffern, NY, to sell Rye, NY, offices, affects 100 employees. $AVP PR link.
Under Armour(PBR512) announces “The Rock” Dwayne Johnson’s “All Day Hustle”apparel collection and Project Rock 1 colorway pack available globally on 09/20/18. $UA PR link.
Taylor Morrison Homes(PBR599) to complete $21.50/share, $963 million cash/stock, includes debt, acquisition of builder AV Homes(NASDAQ: AVHI) on 10/02/18. $TMHC PR link.
WABCO(PBR676) in strategic agreement with China based Baidu (NASDAQ: BIDU) to collaborate on developing standardized suite of solutions for Level 4 Autonomous Driving in hub-to-hub highway applications for commercial vehicles. $WBC PR link.
Fitbit(PBR929) announces Fitbit Care™, a connected health platform for health plans, employers, and health systems that combines health coaching and virtual care through the new Fitbit Plus™ app, selected by Humana(PBR54)as a preferred coaching solution for its 5 million members employer group segment. $FIT PR link.
AutoNation(PBR131) Chairman/President/CEO Mike Jackson to transition to Executive Chairman, gets contract extension through 12/31/21, CEO successor search starts. $AN PR link.
Prudential Financial(PBR51) promotes Scott Sleyster to EVP/COO of International Businesses, Ken Tanji to EVP/CFO, both effective 12/01/18. $PRU PR link.
The US Dept of Commerce/HUD says US Preliminary August 2018 Housing Permits Issued Annual Rate was at 1.229 million, -5.7% from July 2018, -5.5% from August 2017. USDOC PR link.
The US Dept of Commerce/BEA says US Preliminary 2Q18 Total Exports of Goods, Services, & Income Receipts was at $933.3 billion, +3.1% from 1Q18, +11.2% from 2Q17; 2Q18 Total Imports of Goods, Services, & Income Payments was at $1.035 trillion, +0.8% from 1Q18, +7.7% from 2Q17; 2Q18 Total Deficit was at $101.5 billion, -16.6% from 1Q18, -16.7% from 2Q17. USDOC PR link.
***Tuesday, September 18:
The August 2018 Snapshot 12 Summary: The PBR1000 Top 5 YTD Stock Performers(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 08/31/18 Stock Price, % Increase from 12/29/18):
1. BlueLinx(PBR891 BXC), $35.93, +268%
2. Fossil(PBR738 FOSL), $22.67, +192%
3. Vitamin Shoppe(PBR995 VSI), $12.80, +191%
4. Square(PBR841 SQ), $88.64, +156%
5. AMD(PBR488 AMD), $25.17, +145%
Range: +268% to -75%
Number of Companies at 0% or Better:575/1,000
Average: +4.70%
Median: +3.40%
DJIA: +5.04%
NASDAQ: +17.47%
SPX: +8.52%
Tomorrow: The PBR1000 Top 5 Stock Performers Since 12/31/16.
Alphabet(PBR21 $GOOG)’s Google unit denies building customized appliances to compete with Nutanix. MarketWatch PR link.
AbbVie(PBR102 $ABBV) being sued by Lieff Cabraser lawfirm and California Insurance Commissioner Dave Jones for violations of the Insurance Frauds Prevention Act (“IFPA”) by providing kickbacks to healthcare providers throughout California relating to sale of the immunosuppressive drug Humira. Lieff Cabraser PR link.
Dollar General(PBR118) hosting national recruiting events through 09/23/18, plans to create approximately 7,000 net new jobs in 2018. $DG PR link.
Dollar Tree(PBR126) to consolidate its store support centers in Matthews, NC and Chesapeake, VA to Dollar Tree’s newly-completed 12 story 510,000 sf office tower in the Summit Pointe development in Chesapeake, 700 employees affected have relocation and support options. $DLTR PR link.
VISA(PBR154) and other US financial defendants have agreed to settle and resolve class claims in the multi-district interchange litigation originally brought by a class of US retailers in 2005, settlement amount is around $6.2 billion, VISA share around $4.1 billion, to be satisfied from previous deposits with court plus $600 million in a litigation escrow account. $V PR link.
MasterCard(PBR233) agrees to amendment to settle monetary damages related to US merchant 2012 class settlement agreement, to pay $108 million of $900 million owed by all defendants. $MA PR link.
AutoZone(PBR268) offering next day home delivery, can order items online up to 10PM the previous night, available in 83 markets covering around 80% of the US. $AZO PR link.
Thor Industries(PBR380) to acquire Germanybased 7,300 employees $2.9 billion in revenues privately held international company Erwin Hymer Group for around $2.4 billion, will create world’s largest RV manufacturer, to close by 12/31/18. $THO PR link.
Timken(PBR706) completes acquisition of Milan, Italy, based $140 million in revenues/2018 600 employees linear motion products engineering firm Rollon Group, terms not disclosed. $TKR PR link.
Jones Lang LaSalle(PBR349) CFO Christie Kelly resigns to pursue other opportunities, Chief Administrative Officer Trish Maxson adds Interim CFO role while CFO successor search starts, Kelly to remain through 2018 to support transition. $JLL PR link.
Sempra Energy(PBR261) enters into agreement with 4.9% combined stakeholders Elliott Management and Bluescape Energy Partners for 2 new mutually agreed upon Board members and Board committee restructuring. $SRE PR link.
The US Dept of Labor says US 2Q18 Employer Average Cost for Employee Wages and Salaries/Hour is at $24.72, Benefits are at $11.50, Total Average Hourly Cost is $36.22, -0.3% from 1Q18, +2.7% from 2Q17. USDOL PR link.
The Natl Assn of Home Builders/Wells Fargo US Preliminary September 2018 Housing Market Composite Index is at 67, August 2018was 67, July 2018 68, September 2017 64. NAHB PR link.
Equifax(PBR659) says US first mortgage originations year-to-date through 05/18 were at 2.77+ million, reflecting a total dollar amount of $689.8 billion. In 07/18, there were 50.1 million outstanding first mortgage loans with total balances of $8.87 trillion, nearing the all-time high of $9.04 trillion recorded in 2008. Auto loans and banking items reviewed as well. $EFX PR link.
***Monday, September 17:
The August 2018 Snapshot 11 Summary: The PBR1000 Top 5 Month Stock Performers(Rank, Company, PBR Ranking by Revenues, Stock Symbol, 08/31/18 Stock Price, % Increase from 07/31/18):
1. Vitamin Shoppe(PBR995 $VSI), $12.80, +53%
2. Core-Mark(PBR177 $CORE), $35.77, +48%
3. UNYSIS(PBR747 $UIS), $18.60, +45%
4. Revlon(PBR757 $REV), $21.75, +39%
5. Endo Intl(PBR645 $ENDP), $17.15, +38%
Range: +53% to -58%
Number of Companies at 0% or Better:603/1,000
Average: +2.08%
Median: +1.53%
DJIA: +2.16%
NASDAQ: +5.71%
SPX: +3.03%
Tomorrow: The PBR1000 Top 5 Stock Performers YTD.
Click here to find out more about The PBR1000! PR link.
Amazon(PBR8) opens Amazon Storefronts, includes over a million products from nearly 20,000 small/medium sized businesses from all 50 states. $AMZN PR link.
Amazon(PBR8) to open a 2nd Stockton, CA, fulfillment facility, 1 million sf, to employ 1,000+ full-time. $AMZN PR link.
UPS(PBR42) to hire around 100,000 for the holiday season, about a third usually hired for full-time after the season. $UPS PR link.
DowDuPont(PBR46) Agriculture unit appoints its COO James Collins, Jr, to be CEO of spin-off Corteva Agriscience, CFO & General Counsel also named, Specialty Products divisions COO Marc Doyle to become CEO of spin-off DuPont, CFO & General Counsel named, DowDuPontCEO Ed Breen to be its Executive Chairman, spin-offs to occur by 06/01/19. $DWDP PR link.
Cigna(PBR66) $96.18/share equivalent, $67 billion cash/stock acquisition of Express Scripts(PBR26) gets approval by US Dept of Justice, additional regulatory approvals pending, to close by end of 4Q18. $CI PR link.
TJX Cos(PBR80) board approves 2:1 stock split, subject to 10/22/18 vote at shareholders special meeting, to be distributed 11/06/18 if approved. $TJX PR link.
Coca-Cola(PBR82) says it has no interest in marijuana or cannabis; along with many others in the beverage industry it is closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world, the space is evolving quickly, no decisions have been made at this time. $KO PR link.
Macy’s(PBR113) will be partnering with Facebook(PBR69), which will bring in nearly 150 e-commerce brands to The Market @ Macy’s across nine stores this holiday season. $M PR link.
Gap Inc(PBR175) to hire 65,000 seasonal associates for the holidays, US hiring event on 10/06/18, for Canada on 10/13/18. $GPS PR link.
XPO Logistics(PBR182) to add 8,000 seasonal jobs in N America as e-commerce demand rises. $XPO PR link.
Aramark(PBR195) to sell its Charolotte, NC, based 1,500+ employees maintenance and refurbishment of high end imaging equipment services provider Healthcare Technologiesbusiness for $300 million to TRIMEDX, to close in 4Q18. $ARMK PR link.
SuperValu(PBR205) to sell 19 of its 36 Shop ‘n Save grocery stores and affiliated pharmacies and fuel centers, primarily located in the St. Louis, MO, area, to Schnuck Markets, by end of 10/31/18, to close remaining 17 stores if no buyer found, terms not disclosed. $SVU PR link.
First Data(PBR245) ships 1 millionth Cloverpoint-of-sale device, added 500,000 in less than 2 years. $FDC PR link.
Tesla(PBR250) to bring most collision repairs in house, turnaround in less than a day, outside shops taking weeks/months per Elon Musk tweet. $TSLA PR link.
Univar(PBR340) to acquire global chemicals and plastics distributor Nexeo Solutions(PBR628) for $11.65/share, around $2.0 billion, includes debt, to close in 1H19. $UNVR PR link.
Meredith Corp(PBR836) to sell TIME media brand reaching 175 million consumers monthly to Salesforce(PBR275) Chairman/Co-CEO/Founder Marc Benioff and wife Lynne for $190 million cash, to close within 30 days. $MDP PR link.
Tyson Foods(PBR76) President/CEO Tom Hayes stepping down for personal reasons, Noel White appointed President/CEO effective 09/30/18. $TSN PR link.
Boeing(PBR30) SVP/Communications Phil Musser departing in early 11/18, VP/Global Brand Management Anne Toulouse to be interim. $BA PR link.
Oshkosh(PBR400) EVP/Government Operations Jay Kimmitt to retire on 12/31/18; Thomas P. Hawkins hired as SVP/Government Relations. $OSK PR link.
UGI Corp(PBR445) appoints Roger Perreault to the newly created position of EVP/Global LPG and Robert F. Beard to the newly created position of EVP/Natural Gas, effective 10/01/18. $UGI PR link.
Symantec(PBR586) and 5.8% stakeholder Starboard Value agree on Board refreshment plan, 3 new members appointed. $SYMC PR link.
The Federal Reserve Bank of New York says the Empire State September 2018 Manufacturing General Business Conditions Index is at 19.0, “Business activity continued to grow at a solid clip in New York State…,” August 2018 was at 25.6, July 2018 22.6, September 2017 23.8. NYFed PR link.
***Friday, September 14:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 09/14/18:
DJIA ends week at 26,154.67, +0.92% from last Friday, +0.73% MTD, +7.76% QTD, +5.81% YTD, -1.74% from record 26,616.71 set 01/26/18.
NASDAQ ends week at 8,010.04, +1.36% from last Friday, -1.23% MTD, +6.65% QTD, +16.03% YTD, -1.23% from record 8,109.69 set 08/29/18.
SPX ends week at 2,904.98, +1.36% from last Friday, +0.12% MTD, +6.86 QTD, +8.65% YTD, -0.31% from record 2,914.04 set 08/29/18.
Weekly US Stock Exchanges Summary: The Stock Market Bull regains the podium with a convincing win in Week 37.
Week 37 YTD tally is:
The Stock Market Bull: 17 weeks
The Stock Market Bear: 13 weeks
Mixed Results: 7 weeks
Weekly News Summary: Economic newscontinues to show modest/moderate growth, US/China trade relations up in the air again, Tech sector has a nice rebound from last week, Hurricane Florence bearing down on the Carolinas, Georgia, and Virginia, other storm systems active.
Allergan(PBR174) to acquire privately-held fast-acting neurotoxin programs for aesthetic and therapeutic applications developer Bonti for $195 million upfront and potential payments based on achieving milestonres. $AGN PR link.
Arthur J Gallagher(PBR441) acquires Windsor, CA, based diversified commercial and personal lines agency with a focus on contractors and construction clients Rogers & Young Insurance Services, terms not disclosed. $AJG PR link.
AMC Entertainmenty(PBR504) issues $600 million Senior Unsecured Convertible Notes due 2024 to Silver Lake bearing interest at 2.95% and convertible into AMC Class A common stock at $20.50 per share, repurchases approximately 24 million shares of AMC Class B common stock from investor Wanda at $17.50 per share. $AMC PR link.
Essendant(PBR507) to be acquired by office supply company Staples for $12.80/share, $996 million cash, includes net debt, to close 4Q18, terminates $11.50/share offer by Genuine Parts(PBR191) SP Richards unit. $ESND PR link.
Trinity Industries(PBR615) announces board for spin-off infrastructure company Arcosa, spin-off to be completed in 4Q18. $TRN PR link.
HB Fuller(PBR816) increases increases prices of its adhesives and related products by 4 to 10%, cites increased costs of raw materials, labor, tariffs, and truck shortages. $FUL PR link.
Ryman Hospitality(PBR993) to increase ownership in Gaylord Rockies joint venture from 35% to approximately 62.3% for $242 million, 1,500 room resort and convention center to open in 4Q18. $RHP PR link.
The US Federal Reserve says the US Preliminary August 2018 Total Manufacturing Production Capacity is at 78.1%, July 2018was 77.9%, June 2018 77.8%, August 201775.7%. USFed PR link.
The US Dept of Commerce/Census says US Preliminary July 2018 Manufacturer Saleswere at $501.7 billion, Retail Sales $446.8 billion, Wholesale Sales $505.6 billion, Total Sales $1.454 trillion, +0.2% from June 2018, +8.1% from July 2017. USDOC PR link.
The US Dept of Commerce says US Advance September 2018 Retail Sales are at $447.4 billion, Total Food Services & Drinking Places$61.6 billion, Total Sales $509.0 billion, +0.1% from August 2018, +6.6% from September 2017. USDOC PR link.
The US Dept of Labor says US Preliminary August 2018 Import Prices were -0.6%, Export Prices -0.1%, Last 12 Months Import Prices+3.7%, Last 12 Months Export Prices +3.6%. USDOL PR link.
The University of Michigan US Preliminary September 2018 Consumer Sentiment Indexis at 100.8, gains were widespread across all major socioeconomic subgroups, August 2018was 96.2, July 2018 97.9, September 201795.1. UMichigan PR link.
The Federal Reserve Bank of ChicagoPresident/CEO Charles Evans expresses his personal opinion, says “…the US economy is firing on all cylinders, with strong growth, low unemployment, and inflation approaching our 2 percent symmetric target on a sustained basis.1 I expect this good performance to continue over the next few years.” ChiFed PR link.
***Thursday, September 13:
Walmart(PBR1) acquires Cornershop, a leading online marketplace for on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, for $225 million. $WMT PR link.
General Motors(PBR12 $GM) recalling 1 million pickups and SUVs in US due to steering defect, linked to 30 crashes and two injuries.MarketWatch PR link.
GE(PBR18 $GE) Aviation’s Baltimore, MD, based 800 employees engine nacelle systems OEM MRA Systems to be acquired by Singapore Technologies Engineering US subsidiary Vision Technologies Aerospace for $630 million, to close 1Q19. STE PR link.
Target(PBR39) to hire 120,000 seasonal team members, an increase of 20% over last year, and offer extra hours to existing team members this holiday, minimum starting wage is $12.00/hr, national hiring event set for 10/12-14/18. $TGT PR link.
UPS(PBR41) transformation program includes expansion of international business, expansion from both B2B and B2C e-commerce, further penetration in Healthcare and Life Sciences logistics, enhancing services for small to medium sized businesses. $UPS PR link.
Starbucks(PBR124) to operate 10,000 ‘Greener Stores’ by 2025, estimated to save an incremental $50 million in utilities over the next 10 years. $SBUX PR link.
Qualcomm(PBR125) initiates $16 billion accelerated share repurchase program with several banks, part of $30 billion plan. $QCOM PR link.
SYNNEX(PBR165) $26.50/share stock/cash, $2.43 billion acquisition of Convergys(PBR732)to be voted on at special shareholders meetings of both companies on 10/03/18, to close soon thereafter. $SNX PR link.
Sears(PBR169) in 2Q18 report reviews in various initiatives to create a smaller but profitable Sears. $SHLD PR link.
HollyFrontier(PBR201) authorizes new $1 billion share repurchase program, replaces all previous programs. $HFC PR link.
L Brands(PBR225) to close all 23 Henri Bendel stores and the Henri Bendel e-commerce website in 01/19, expects 2018 revenues of $85 million, operating loss of $45 million before closing costs. $LB PR link.
Lithia Motors(PBR285) enters into strategic partnership with San Francisco-based ecommerce automotive retailer Shift, makes $54 million investment in Shift to become largest shareholder. $LAD PR link.
NVIDIA(PBR296 $NVDA) outlines how the company will grow for the next 10 years.MarketWatch PR link.
Conagra Brands(PBR346) $68/share, $10.9 billion cash/stock, includes net debt, acquisition of Pinnacle Foods(PBR694) to be voted on by Pinnacle shareholders on 10/23/18, transaction to close by 10/31/18. $CAG PR link.
iHeartMedia(PBR440) to acquire Stuff Media, the leading for-profit publisher of entertaining and informative podcast content, which includes the HowStuffWorks (HSW) podcasting business, increases IHRTQ’s lead as global #1 commercial podcaster and #2 overall. $IHRTQ PR link.
Hanover Insurance(PBR496) to sell London-based Chaucer, its international specialty insurance business, to China Reinsurance for $950 million. $THG PR link.
Rent-A-Center(PBR751) $15.00/share, $1.365 billion cash acquisition by private equity firm Vintage Capital receives 2nd request from US Federal Trade Commission under the HSR Act, to delay closing by 30 days, RCII shareholders to vote on acquisition on 09/18/18, to close in 1Q19. $RCII PR link.
Navient(PBR965) authorizes new up to $500 million share repurchase program, in addition to $80 million available from previous authorization. $NAVI PR link.
Carlisle Cos(PBR579) President/Carlisle Construction Materials John W. Altmeyer retires after 30 years with company, Nick Shears appointed as interim President/CCM as search starts. $CSL PR link.
Abercrombie & Fitch(PBR643) hires Gregory J. Henchel as SVP/General Counsel & Corporate Secretary, effective 10/01/18. $ANF PR link.
The US Dept of Treasury says US August 2018 Federal Government Receipts were $219.1 billion, Outlays $433.3 billion, Total Deficit$214.1 billion; Total Receipts Fiscal YTD(11 months) is $2.985 trillion, Outlays $3.883 trillion, Deficit $898.1 billion, August 2017 Fiscal YTD Deficit was $673.7 billion. US Treasury PR link.
The US Dept of Labor says the US August 2018 Consumer Price Index for All Items was +0.2%, Food was +0.1%, Energy +1.9%, All Items Less Food & Energy +0.1%, Last 12 Months(Unadjusted) was +2.7%, July 2018was +2.9%, June 2018 +2.9%, August 2017+1.9%. USDOL PR link.
The US Dept of Labor says the US Preliminary August 2018 Employee Current Average Wage/Hour was at $27.16, Average Hours Worked Per Week at 34.5, for Average Weekly Earnings at $937.02, +0.4% from July 2018, +3.2% from August 2017. USDOL PR link.
***Wednesday, September 12:
Apple(PBR4) introduces redesigned Apple Watch Series 4, iPhone Xr, iPhone Xs and iPhone Xs Max, updated HomePod. $AAPL PR link.
FedEx(PBR42) Ground expands US operations to 6 days/week year-around in response to the growing e-commerce demand and record influx of volume expected this holiday season, and beyond. $FDX PR link.
United Technologies(PBR50) says it is pleased to have settled with the US Securities and Exchange Commission regarding its voluntary disclosure in 2013 of illicit payments to foreign officials, made changes, committed to doing business the right way. $UTX PR link.
Honeywell(PBR71) Homes unit spinoff Resideonames CFO and full Board, ticker to be NYSE: REZI, investor conference set for 10/10/18, start trading day to be announced. $HON PR link.
Macy’s(PBR113) to hire 80,000 seasonal colleagues in 2018 for Macy’s and Bloomingdale’s stores and operations, national hiring event on 10/18/18. $M PR link.
Stanley Black & Decker(PBR222) to acquire 20% stake in Valley City, OH, based $2 billion in revenues in 2017, outdoor power equipment manufacturer MTD Products for $234 million, will have option to purchase remaining 80% beginning 07/01/21. $SWK PR link.
MasterCard(PBR230) introduces Mastercard Track™ B2B platform powered by Microsoft(PBR31) Azure to better connect buyers and suppliers with networks, banks and solution providers. $MA PR link.
Tenneco(PBR308) shareholders approve $5.4 billion cash/stock acquisition of Icahn Enterprises(PBR128) wholly owned subsidiary Federal-Mogul, all regulatory approvals received, to close 10/01/18. $TEN PR link.
Targa Resources(PBR320) to sell its refined products and crude oil storage and terminaling facilities in Tacoma, WA and Baltimore, MD, to an ArcLight Capital Partners affiliate for approximately $160 million. $TRGP PR link.
Bausch Health(PBR323)’s Salix Pharmaceuticals unit will maintain market exclusivity for XIFAXAN® (rifaximin) 550 mg tablets Until 2028 in resolution of outstanding intellectual property litigation with Actavis Laboratories, who will get non-exclusive license to intellectual property effective 01/01/28. $BHC PR link.
Hershey(PBR368) to acquire B&G Foods(NYSE:BGS)’ Pirate Brands, including the Pirate’s Booty, Smart Puffs and Original Tings brands, for $420 million, to close in 4Q18. $HSY PR link.
CA Technologies(PBR567) shareholders approve $44.50/share, $18.9 billion cash acquisition by Broadcom(PBR158), to close in 4Q18. $CA PR link.
KKR(PBR679) selling its majority stake in 21,000 colleagues across 65 countries provider of technology-enabled risk, benefits and integrated business solutions Sedgwick to The Carlyle Group(PBR581) for $6.7 billion, to close by 12/31/18. $KKR PR link.
Bristow Group(PBR961) makes structural organizational changes, eliminates a layer of management. $BRS PR link.
Prudential Financial(PBR51) Chairman/CEO John Strangfeld to retire as CEO 11/30/18, serve as Non-Executive Chairman until 04/05/19; EVP/COO International Businesses Charles Lowrey to become CEO 12/01/18, become Chairman on 04/05/19; EVP/CFO Robert Falzon to become Vice Chairman on 12/01/18, to succeed Mark Grier on Board in 08/19. $PRU PR link.
Equinix(PBR555) COO Charles Meyers appointed to President/CEO, effectively immediately, succeeds Interim CEO Peter Van Camp who will resume his role as Executive Chairman. $EQIX PR link.
Broadridge Financial(PBR576) CEO Rich Daley to become Executive Chairman, President/COO Tim Gokey to become President/CEO, Chairman Les Brun to become Lead Independent Director, all on 01/02/19. $BR PR link.
Verizon(PBR16) Oath unit CEO/founder Tim Armstrong becomes transition advisor, Oath President/COO K. Guru Gowrappan to become Oath CEO on 10/01/18. $VZ PR link.
Cisco(PBR60) SVP/Chief of Operations Rebecca Jacoby to leave, agrees to separation terms. $CSCO PR link.
Tesla(PBR250 $TSLA) VP/World-Wide Finance and Operations Justin McAnear leaving, effective 10/07/18, to become CFO at another company.MarketWatch PR link.
Spectrum Brands(PBR510) hires Ehsan Zargar as EVP/Chief Counsel & Corporate Secretary, succeeds departing Nathan Fagre; SVP/Human Resources Stacey Neu departing, HR function reassigned to EVP/CFO Douglas Martin and Zargar. $SPB PR link.
The US Dept of Labor says the US Preliminary August 2018 Producer Price Index is -0.1%, July 2018 was +0.0%, June 2018 +0.3%, August 2017 +0.3%. USDOL PR link.
The US Federal Reserve releases the Beige Book, says districts indicate overall economyexpanded at a moderate pace through the end of August, labor markets are tight, wage growthmodest or moderate, prices for goods and services rose at modest to moderate rate in most districts. USFed PR link.
***Tuesday, September 11:
Amazon(PBR8) expands Prime Now grocery delivery service from Whole Foods Market to Charlotte, Las Vegas, Memphis, Nashville, New Orleans, Oklahoma City, Phoenix, Raleigh, Seattle and Tucson, now in 38 cities. $AMZN PR link.
Verizon(PBR16) to launch its 5G Home, the world’s first commercial 5G broadband internet service, on 10/01/18 in 4 US cities: Houston, Indianapolis, Los Angeles, and Sacramento. $VZ PR link.
Microsoft(PBR31) Canada to move into new state-of-the-art 132,000 sf facility in downtown Toronto in 09/20, to invest $570 million in Canada, add 500+ new employees by 2022. $MSFT PR link.
T-Mobile(PBR70) and Sprint(PBR87) are sent a letter from the US Federal Communications Commissions saying because of business model changes they will have to extend merger review beyond the informal 180 day evaluation period. FCC PR link.
Stryker Corp(PBR233) to acquire San Francisco, CA, based advanced photonics and single-use, lighted instruments for surgical use developer Invuity(NASDAQ: IVTY) for $7.40/share, $190 million cash, to close 4Q18. $SYK PR link.
MasTec(PBR411) completes $100 million share repurchase program, authorizes new $150 million share repurchase program. $MTZ PR link.
Fortune Brands(PBR491) completes $470 million acquisition of 475 employees $200 million in revenues/2017 Meridian, ID, based manufacturer of outdoor performance materials used primarily in decking, railing and fencing products Fiberon. $FBHS PR link.
Norwegian Cruise Lines(PBR482) appoints interim CFO Mark A. Kempa as EVP/CFO. $NCLH PR link.
The US Dept of Labor says US Preliminary July 2018 Total Private Job Openings were at 6,316,000, Total Government Job Openingswere 623,000, Total Job Openings were 6,939,000, +1.7% from June 2018, +11.9% from July 2017. USDOL PR link.
The US Dept of Commerce/Census says US Preliminary July 2018 Total Wholesale Durable Goods Sales were at $243.3 billion, Total Wholesale Non-Durable Goods Sales at $262.3 billion, Total Wholesale Sales were $505.6 billion, -0.0% from June 2018, +9.8% from July 2017. USDOL PR link.
CoreLogic says US June 2018 Housing Loans 30 or More Days Delinquent was at 4.3%, June 2017 was 4.6%, June 2018 Percent of Houses in Foreclosure is at 0.5%, June 2017 was 0.7%. CoreLogic PR link.
***Monday, September 10:
MGM Resorts(PBR269) to become first sports betting sponsor with 3 year exclusive gaming partner deal and is investor in the 8 team with 50 players each Alliance of American Football, starts play on 02/09/19, 10 game regular season, 2 playoff rounds, then championship. $MGM PR link.
United Rentals(PBR408) to acquire 114 locations in 25 US states with 1,700 employees, $786 million revenue for 12 months ending 08/31/18 BlueLine Rentals for $2.1 billion cash, to close 4Q18. $URI PR link.
Essendant(PBR507) board determines that $12.80/share cash acquisition proposal by Staples is superior to current Genuine Parts(PBR191) SP Richards unit $11.50/share offer, to terminate current merger agreement. $ESND PR link.
SAIC(PBR540) to acquire systems engineering and integration services primarily for the US government provider Engility Holdings(NYSE: EGL) in all stock transaction valued at $40.44/share, $2.5 billion, to close by 02/01/19. $SAIC PR link.
Fred’s(PBR894) to sell pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states to Walgreens Boots Alliance(PBR19 $WBA) for $165 million, transfers to be completed in 1Q19. $FRED PR link.
Alliance One Intl(PBR915) announces new organization structure and leadership team when it becomes a holding company as Pyxus International(NYSE: PYX) on 09/12/18. $AOI PR link.
HCA(PBR61) Chairman/CEO Milton Johnson to retire on 12/31/18, remain Chairman through 2019 annual meeting on 04/26/18, Board member Thomas F. Frist, III to become Chairman, President/COO Sam Hazen to become CEO on 01/01/19. $HCA PR link.
CBS(PBR214) Chairman/President/CEO Leslie Moonves departs, COO Joseph Ianniello appointed President/Interim CEO, 6 new independent directors appointed to succeed 6 directors who have stepped down per settlement agreement with National Amusements, Moonves and CBS will donate $20 million to one or more organizations that support the #MeToo movement and equality for women in the workplace, Moonves severance dependent on results of independent investigation into allegations of Moonves misconduct and Board evaluation. $CBS PR link.
Sempra Energy(PBR261) CEO Jeffrey W. Martin elected to also become Chairman on 12/01/18 with retirement of Debra Reed. $SRE PR link.
AmerisourceBergen(PBR11) EVP/CFO Tim G. Guttman to retire effective 11/09/18, EVP and Group President/Global Commercialization Services and Animal Health James F. Cleary, Jr, to be successor. $ABC PR link.
International Paper(PBR129) SVP/Corporate Development C. Cato Ealy to retire after 26 years with company on 12/31/18. $IP PR link.
Cerner(PBR501) President Zane Burke to step down, effective 11/02/18, EVP/Worldwide Client Relationships John Peterzalek to assume responsibilities immediately and title of Chief Client Officer. $CERN PR link.
HD Supply(PBR502) promotes Brad Paulsen to President/HD Supply Facilities Maintenance, succeeds departing Will Stengel. $HDS PR link.
Triumph Group(PBR687) hires William Kircher as EVP/Product Support, succeeds retiring Mike Abram. $TGI PR link.
The US Dept of Treasury’s Congressional Budget Office Monthly Report for Augustestimates that the federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, $222 billion more than the shortfall recorded during the same period last year. CBO PR link.
The US Federal Reserve says US Preliminary July 2018 Total Consumer Revolving Credit Debt was at $1.036 trillion, Total Consumer Non-Revolving Credit Debt at $2.881 trillion, Total Consumer Debt $3.918 trillion, +0.4% from June 2018, +2.3% YTD(7 months), +4.5% from July 2017. USFed PR link.
FannieMae(PBR20) says the US August 2018 Home Purchase Sentiment Index is at +88.0, July 2018 was +86.5, June 2018 +90.7, August 2017 +88.0. “Consumers were less optimistic this month about both homebuying and home selling conditions, while perceptions of income growth and confidence about job security are at survey highs….” $FNMA PR link.
***Friday, September 7:
The PBRMarketTools US Stock Exchanges Recap for the Week Ending 09/07/18:
DJIA ends week at 25,916.54, -0.19% from last Friday, -0.19% MTD, +6.78% QTD, +4.84% YTD, -2.63% from record 26,616.71 set 01/26/18.
NASDAQ ends week at 7,902.54, -2.55% from last Friday, -2.55% MTD, +5.22% QTD, +14.47% YTD, -2.55% from record 8,109.69 set 08/29/18.
SPX ends week at 2,871.68, -1.03% from last Friday, -1.03% MTD, +5.64 QTD, +7.41% YTD, -1.45% from record 2,914.04 set 08/29/18.
Weekly US Stock Exchanges Summary: It was all Stock Market Bear for the shortened week, his first all out win since Week 25 ending 06/22/18.
Week 36: The Stock Market Bear wins,
YTD tally is:
The Stock Market Bull: 16 weeks
The Stock Market Bear: 13 weeks
Mixed Results: 7 weeks
Weekly News Summary: Economic news was generally good, US/China trade relationsissues are still in turmoil, Supreme Courtnominee Brett Kavanaugh gets grilling at the Senate hearings, shares in tech stocks take a dive.
DowDuPont(PBR46) files initial Form 10registration statement with the US Securities and Exchange Commission for the separation of its Materials Science Division (to be called Dow), to close by 04/01/19. $DWDP PR link.
Thermo-Fisher Scientific(PBR138) to acquire Becton Dickenson(PBR241)’s Advanced Bioprocessing business, does $100 million annually, terms not disclosed. $TMO PR link.
Thermo-Fisher Scientific(PBR138) authorizes new $2.0 billion share repurchase program with no expiration date, expects to also complete previous authorization which has $250 million left. $TMO PR link.
Campbell Soup(PBR350) gets slate of 12 nominees for board from Third Point, reiterates plan, says board will consider nominees, produce a recommended slate for 2018 annual meeting. $CPB PR link.
Michaels Cos(PBR486) authorizes up to an addtional $500 million share repurchase program, balance available is around $600 million. $MIK PR link.
Perrigo(PBR512) gets US FDA approval for over-the-counter equivalent of Imodium® Multi-Symptom Relief, to launch in 4Q18. $PRGO PR link.
Barnes & Noble(PBR616) has 6.90% investment from Richard Schottenfeld funds, says company is undervalued, wants to talk to board about executive & board changes, possible sale of company. $BKS PR link.
Annaly Capital(PBR784) completes $19.65/share cash and stock, $900 million acquisition of MTGE Investment Corp(Nasdaq: MTGE). $NLY PR link.
Systemax(PBR982) completes $270 million sale of its France based IT value added reseller business Inmac Wstore to Bechtle AG, Germany’s largest independent IT systems integrator. $SYX PR link.
Tesla(PBR250) Chairman/CEO Elon Musk makes several management changes including Jerome Guillen promoted to President/Automotive, Kevin Kassekert promoted to VP/People and Places, Chris Lister promoted to VP/Gigafactory Operations. $TSLA PR link.
The US Dept of Labor says US August 2018 Total Employed was at 155,542,000, -423,000 from July 2018, +2,071,000 from August 2017, August 2018 Unemployed at 6,234,000, -46,000 from July 2018, -893,000 from August 2017, August 2018 Unemployment Rate at 3.9%, July 2018 was 3.9%. August 2017 4.4%. USDOL PR link.
***Thursday, September 6:
Ford(PBR10) is issuing a recall for approximately 2 million select 2015-18 Ford F-150 Regular Cab and SuperCrew Cab vehicles in N America for driver and front passenger seat belt pretensioners. $F PR link.
Walgreens Boots Alliance(PBR19 $WBA)becomes first retail pharmacy to offer access to Kaleo AUVI-Q epinephrine auto-injectors at no cost for commercially insured patients who are eligible for kaléo’s patient support programs. Kaleo PR link.
Eli Lilly(PBR121) Elanco subsidiary launches IPO roadshow, selling up to 62.9 million shares for around $20-23/share, attempting to raise up to $1.45 billion, LLY to hold around 82.3% of shares. $LLY PR link.
Tesla(PBR250 $TSLA) sells 17,800 Model 3electric vehicles in 08/18, most of any other manufacturer. InsideEV PR link.
Tesla(PBR250 $TSLA), Chairman/CEO Elon Musk hit by lawsuit by short seller Andrew Leftfor going private with secured funding tweets on 08/07/18. MarketWatch PR link.
Baxter(PBR272) gets US FDA clearance for Actifuse Flow Bone Graft Substitute for use in a variety of orthopedic surgical procedures. $BAX PR link.
Boston Scientific(PBR315) to acquire privately-held Augmenix for $500 million cash upfront plus $100 million for reaching sales milestones, has developed and commercialized the SpaceOAR® System, a therapy used to reduce common and debilitating side effects that men may experience after receiving prostate cancer radiotherapy. $BSX PR link.
Delek US(PBR377) announces $100 million share repurchase plan for 3Q18. $DK PR link.
Rockwell Automation(PBR427) adds up to $1 billion to share repurchase program, balance available is now up to $1.245 billion. $ROK PR link.
Arthur J Gallagher(PBR441) acquires retail insurance broker and program administrator Highland Mills, NY, based United Dealer Services, specializes in franchised auto dealerships in the NE US, terms not disclosed. $AJG PR link.
Mattel(PBR516) starts new division, Mattel Films, to develop and produce motion pictures based on the Company’s iconic and globally-recognized franchises, Robbie Brenner hired as Executive Producer. $MAT PR link.
The US Dept of Labor says US 1st Revision 2Q18 Business Sector Labor Productivity Output/Hour remains at +3.6%, 1Q18 was +0.6%, 4Q17 -1.1%, 2Q17 +1.6%. USDOL PR link.
The US Dept of Commerce/Census says US Preliminary July 2018 Total Manufacturing New Orders were at $497.8 billion, -0.8% from June 2018, +9.0% from July 2017. USDOC PR link.
ADP(PBR234) says US Preliminary August 2018 Total Private Sector Jobs Added were at 163,000, July 2018 was 217,000, June 2018178,000, August 2017 170,000. $ADP PR link.
The Institute for Supply Management reports that the US August 2018 Non-Manufacturing Index is at +58.5%, represents continued growth in the non-manufacturing sector at a faster rate, July 2018 was +55.7%, June 2018 +59.1%, August 2017 +55.3%. ISM PR link.
The IHS Markit US August 2018 Composite PMI Output Index was at 54.7, “although strong, the pace of expansion eased to a five-month low, driven by weaker rates of growth across both the manufacturing and service sectors,” July 2018was 55.7, June 2018 56.2, August 2017 55.3. IHS Markit PR link.
***Wednesday, September 5:
21st Century Fox(PBR101) FOX Sports unit gets 4 year deal with Premier Boxing Champions to feature 10 marquee fight nights in prime time each year, while FS1 and FOX Deportes will telecast 12 fight nights annually, includes FOX Sports-PBC Pay-Per-Viewevents. $FOX PR link.
21st Century Fox(PBR101) invests $100 million in social broadcasting platform gaming, entertainment, and other creative content provider Caffeine. $FOX PR link.
Marriott Intl(PBR120) to expand its global branded residential portfolio such as Ritz-Carlton, St. Regis, EDITION and W from nearly 90 currently to over 150 projects by 2022. $MAR PR link.
Blackstone(PBR385) Energy Partners unit portfolio company EagleClaw Midstream to acquire Caprock Midstream Holdings, with holdings in the Delaware Basin, from Energy Spectrum Capital and Caprock Midstream Management for $950 million cash, to close by end of 2018. $BX PR link.
Harley-Davidson(PBR470) to establish a new research and development facility in N California to support its future product portfolio, including the company’s first complete line of electric vehicles, will launch its first electric motorcycle, LiveWire™, in 2019. $HOG PR link.
Michaels Cos(PBR486) to hire 15,000 seasonal employees for the holidays. $MIK PR link.
Global Payments(PBR660) completes $700 million acquisition of cloud-based software as a service (SaaS) solutions to small-to-medium sized ambulatory physician practices in the US provider AdvancedMD from Marlin Equity Partners. $GPN PR link.
FreddieMac(PBR38) CEO Donald Layton retiring in 2H19, EVP/MultiFamily David Brickman promoted to President & identified as an internal candidate for CEO, external candidates search starts. $FMCC PR link.
W.R. Grace(PBR914) hires Jag Reddy as VP/Strategy and Growth, a newly created position. $GRA PR link.
The US Dept of Commerce says US Preliminary July 2018 Total International Trade Exports were at $211.1 billion, Imports$261.1 billion, Total Deficit $50.0 billion; Total Deficit YTD(7 Months) is at $337.9 billion, Total Deficit YTD 2017(7 Months) was $315.7 billion. USDOC PR link.
***Tuesday, September 4:
Nike(PBR79 $NKE) takes on Trump by naming Colin Kaepernick the face of 30th anniversary of ‘Just Do It’. MarketWatch PR link.
WellCare Health Plans(PBR166) completes $2.5 billion in cash acquisition of private $4.3 billion in revenues in 2018 Meridian Health Plan of Michigan, Inc., Meridian Health Plan of Illinois, Inc., and MeridianRx, a pharmacy benefit manager. $WCG PR link.
Steel Dynamics(PBR301) authorizes new up to $750 million share repurchase program. $STLD PR link.
Quanta Services(PBR304) authorizes up to $500 million share repurchase program through 08/30/21, is in addition to $46 million remaining from current authorization which expires 06/30/20. $PWR PR link.
Arthur J Gallagher(PBR441) acquires Woodland Hills, CA, based retail property/casualty insurance broker and employee benefits consultant and broker Wheatman Insurance Services, terms not disclosed. $AJG PR link.
Arthur J Gallagher(PBR441) acquires Australia based employee benefit consultants and corporate advisory groups provider Super-Advice Corporate Services Pty Ltd and Personal Advice Services Pty Ltd, terms not disclosed. $AJG PR link.
TravelCenters(PBR450) to sell its 225 convenience stores Minit Mart business for approximately $330.8 million to EG Group. $TA PR link.
Southwestern Energy(PBR686) to sell its Fayetteville Shale E&P and related midstream gathering assets for $1.865 billion cash to private company Flywheel Energy backed by Kayne Private Energy Income Funds, to close in 12/18; also announces $200 million share repurchase program. $SW PR link.
Vista Outdoor(PBR815) completes $158 million sale of its Bollé, Cébé and Serengeti brands (the “Eyewear Brands”) to a European private equity fund. $VSTO PR link.
Cimarex Energy(PBR873) completes $544.5 million sale if its oil and gas properties principally located in Ward County, TX, to Callon Petroleum. $XEC PR link.
ARRIS Intl(PBR409) hires Karen Renner as Chief Information Officer, succeeds departing Phil Baldock. $ARRS PR link.
Scientific Games(PBR699) hires James Sottile as EVP/Chief Legal Officer. $SGMS PR link.
Conn’s(PBR949) promotes John Davis (“JD”) to President/Credit and Collections; President/COO of Retail Coleman Gaines departs, Chairman/CEO Norm Miller to be interim. $CONN PR link.
Whiting Petroleum(PBR953) hires Tim Sulser as Chief Corporate Development and Strategy Officer. $WLL PR link.
Red Robin(PBR968) EVP/COO Carin Stutz leaving, effectively immediately, EVP/CFO Guy Constant transitions to EVP/COO, President/CEO Denny Marie Post to serve as interim CFO, new CFO search starts. $RRGB PR link.
The US Dept of Commerce/Census says US Preliminary July 2018 Total Construction Spending Annual Rate is at $1.315 trillion, +0.1% from June 2018, +8.2% from July 2017. USDOC PR link.
The Institute for Supply Management says the US August 2018 Manufacturing PMI(>50%=Economy is expanding) is at 61.3%, reflects continued expanding business strength, July 2018 was 58.1%, June 201860.2%, August 2017 59.3%. ISM PR link.
IHS Markit says US August 2018 Manufacturing PMI is at 54.7, indicates a strong overall improvement in the health of the US manufacturing sector, July 2018 was 55.3, June 2018 55.4, August 2017 52.8. IHS Markit PR link.
Automotive News reports that US August 2018 New Light Vehicle Units Sold was at 1,481,973, +8.6% from July 2018, -0.2% from August 2018, Total Units Sold YTD were at 11,478,123, +1.1% from 2017 YTD, Average Transaction Price was $33,179, +1.7% from August 2017. Automotive News PR link.
The PurdueU/CME Group says US August 2018 Ag Barometer Composite Index is at 129, July 2018 was 117, June 2018 143, August 2017 132. PurdueU PR link.
***Monday, September 3:
***US Stock Market Exchanges Closed
***In Observance of Labor Day.
***Friday, August 31:
The PBRMarketTools US Stock Exchanges Recap for the Week and Month Ending 08/31/18:
DJIA ends week at 25,964.82, +.68% from last Friday, +2.16% MTD, +6.98% QTD, +5.04% YTD, -2.45% from record 26,616.71 set 01/26/18.
NASDAQ ends week at 8,109.54, +2.06% from last Friday, +5.71% MTD, +7.98% QTD, +17.47% YTD, +0.00% from record 8,109.69 set 08/29/18.
SPX ends week at 2,901.52, +0.93% from last Friday, +3.03% MTD, +6.74 QTD, +8.52% YTD, -0.43% from record 2,914.04 set 08/29/18.
Weekly Summary:For the week and the month it was all the Stock Market Bull. Summary:
Week 35: The Stock Market Bull wins,
YTD tally is:
The Stock Market Bull: 16 weeks
The Stock Market Bear: 12 weeks
Mixed Results: 7 weeks
Month 8: The Stock Market Bull wins,
YTD tally is:
The Stock Market Bull: 5 months
The Stock Market Bear: 2 months
Mixed Results: 1 month
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