What Tools Should Be Used To Keep Making Progress?
By Larry C. Paxton
In October the new US government “inversion” policies apparently had an effect as some major deals among The PBR1000 fell through and there were few mergers announced with headquarters moving offshore. There were a lot of spin-offs announced and some changes in C-level leadership.
The Federal Reserve announced that it is stopping the Quantitative Easing program. Other impacts will be reviewed in The PBR1000 Stocks/Commodities Snapshot that will be released in a few days.
Globally the US is the leader in the many years recovery. But it is still a fragile situation. It will be interesting to see what “tools” businesses and governments use to get to the post recovery phase.
Breaking news items of interest for October for The PBR1000 follow, with the most current date first.
Friday, October 31:
DJIA closes week at 17,390.52, +3.48% from last Friday, +2.04% MTD & QTD, +4.91% YTD.
NASDAQ closes week at 4,630.74, +3.28% from last Friday, +3.06% MTD & QTD, +10.87% YTD.
SPX closes week at 2,018.05, +2.72% from last Friday, +2.32% MTD & QTD, +9.18% YTD.
IBM(PBR23) & China based Tencent Cloud sign agreement for providing cloud based services to businesses. Click here for the IBM press release.
Dollar General(PBR154) extends deadline for $80/share tender offer for Family Dollar(PBR254) to 12/31/14, 5PM. Click here for the DG press release.
Estee Lauder(PBR242) acquires luxury skin care brand RODIN olio lusso, terms not disclosed. Click here for the EL press release.
Level 3 Communications(PBR389) completes $7.3 billion acquisition of tw telecom. Click here for the Level 3 press release.
Newell Rubbermaid(PBR420) to pursue selling its Endicia online postage and Calphalon retail outlet stores & kitchen electronics businesses. Click here for the NR press release.
Sonoco Products(PBR481) completes acquisition of Europe based composite containers provider Weidenhammer Packaging Group for $360 million cash. Click here for the Sonoco press release.
Arthur J Gallagher(PBR648) acquires Western US based insurance broker Insurance Associates, terms not disclosed. Click here for the AJG press release.
FreddieMac(PBR33) in 3rd quarter refinance report estimates that $8.0 billion was cashed out on home equity refinancing, up $2.4 billion from the 2nd quarter. Click here for the FreddieMac press release.
The US Dept of Commerce reports that September personal income was up 0.2% over August, disposable income up 0.1%. Click here for the USDOC press release.
Thursday, October 30:
Lockheed Martin(PBR61) to acquire private 500+ employee provider of healthcare IT solutions for the government company Systems Made Simple. Click here for the LM press release.
Harman International(PBR448) authorizes $500 million over 3 years stock repurchase program. Click here for the Harman press release.
Allison Transmission(PBR897) authorizes $500 million stock repurchase program. Click here for the AT press release.
Carnival(PBR173) announces that President/CEO Gerry Cahill will retire on 11/30/14, no replacement named. Click here for the Carnival press release.
Harman International(PBR448) appoints Sandra Rowland as EVP/CFO, effective 01/01/15, succeeds Herbert Parker who has been appointed EVP/Operational Excellence. Click here for the Harman press release.
Curtiss-Wright(PBR767) Executive Chairman Martin Benante to retire 01/01/15, CEO David Adams to then also become Chairman. Click here for the C-W press release.
Yahoo!(PBR495) names Lisa Utzschneider as SVP/Sales, Americas, will report to CEO Marissa Meyer. Ned Brody to become SVP/Advertising Technology & Strategy. Click here for the Yahoo! press release.
The US Dept of Commerce in Advance Estimate says 3rd quarter GDP annual rate was 3.5%. Click here for the USDOC press release.
The US Dept of Labor in initial report says on 10/25/14 initial unemployment claims were 287,000, up 3,000 from previous week. Click here for the USDOL press release.
FreddieMac(PBR33) reports 30 year fixed mortgage rates on 10/30/14 averaged 3.98% with 0.5 points. Click here for the FreddieMac press release.
Wednesday, October 29:
MasterCard(PBR307) & Zilzar.com collaborate to target $2.5 trillion Muslim lifestyle marketplace. Click here for the MasterCard press release.
Abbott Labs(PBR127) to acquire private electrophysiology technologies medical device company Topera for $250 million plus incentives. Click here for the Abbott Labs press release.
Booz Allen Hamilton(PBR437) acquires Boston based epidemiological & analytics company Epidemico, terms not released. Click here for the BAH press release.
RadioShack(PBR617) on track to have its Fix It Here! mobile device repair service in 750 locations by year end. Click here for the RadioShack press release.
IBM(PBR23) to use its analytics tools in partnership with Twitter(NR) and its data for commercial purposes. Click here for the IBM press release.
VISA(PBR227) authorizes new $5 billion stock repurchase program. Click here for the VISA press release.
CenterPoint Energy(PBR317) appoints SVP/Chief Accounting Officer, SVP/Chief Information Officer, & SVP/Chief Customer Officer. Click here for the CE press release.
RadioShack(PBR617) announces Harry Wilson, CEO of MAEVA Group, to be Chief Revitalization Officer, reports to CEO. Click here for the RadioShack press release.
Applied Industrial Technologies(PBR782) elects Peter Wallace, CEO for private Gardner Denver, as independent Chairman. Succeeds John Meier who will continue to serve on the board. Click here for the AIT press release.
Black Hills(PBR1033) announces EVP/CFO Anthony Cleberg retiring 03/31/15, VP/Controller Richard Kinsley to become SVP/CFO 01/01/15. Click here for the BH press release.
The US Federal Reserve Board gives its assessment of the US economy, to conclude its asset purchase program this month. Click here for the FRB press release.
Tuesday, October 28:
Amgen(PBR144) to accelerate dividend payouts, reinitiate $2 billion stock repurchase program, layoff an additional 600-1,000 people. Click here for the Amgen press release.
Chevron(PBR3) announces $6 billion development project with Hess Corp(PBR114) operated Stampede project in deepwater US Gulf of Mexico. Click here for the Chevron press release.
Macy’s(PBR97) to open its first international Macy’s store in 2018 in Abu Dhabi in the United Arab Emirates. Click here for the Macy’s press release.
Level 3 Communications(PBR389) & tw telecom stockholders approve merger, expected to close by 11/05/14. Click here for the Level 3 press release.
SunEdison(PBR882) & Rajasthan Government in India sign Memorandum of Understanding to develop 5 gigawatts of solar power. Click here for the SunEdison press release.
Family Dollar(PBR254) mailing out proxy info for special stockholders meeting on 12/11/14 to vote on $9.2 billion merger with Dollar Tree(PBR328). Click here for the Family Dollar press release.
Alliant Techsystems(PBR489) sets 12/09/14 for special stockholders meeting to vote on merger of aerospace unit with Orbital Sciences(PBR1010). Click here for the AT press release.
Orbital Sciences(PBR1010) comments on failed Antares rocket launch with supplies to the international space station. Click here for the OS press release.
IBM(PBR23) adds $5 billion to $1.4 billion remaining for stock repurchase program. Click here for the IBM press release.
AutoNation(PBR152) in 3rd quarter report says it has purchased 8% of outstanding shares, has increased share repurchase program, now has $281 million available. Click here for the AutoNation press release.
The US Dept of Commerce reports that the end of the 3rd quarter 2014 homeownership rate was at 64.4%, -0.9% from the 3rd quarter 2013. Click here for the USDOC press release.
Monday, October 27:
Chiquita Brands(PBR658) agrees to be acquired by Brazilian based Cutrale/Safra Groups for $14.50/share, $1.3 billion includes debt, to close late 2014/early 2015. Click here for the Chiquita press release.
Allergan(PBR391) confirms receipt of Valeant merger letter, says no new terms proposed. Click here for the Allergan press release.
Micron Technology(PBR284) authorizes $1 billion stock repurchase program. Click here for the MT press release.
HCA(PBR76) elects CEO Milton Johnson as Chairman, effective 12/31/14, succeeds Richard Bracken who is retiring. Click here for the HCA press release.
Advanced Micro Devices(AMD)(PBR451) hires Forrest Norrod as SVP/GM for Enterprise, Embedded, and Semi-Custom Business, reports to Pres/CEO Lisa Su. Click here for the AMD press release.
Hill-Rom(PBR945) appoints Steven Strobel as SVP, effective 11/03/14, will add CFO title on 12/01/14. Click here for the Hill-Rom press release.
Friday, October 24:
DJIA closes week at 16,805.41, +2.59% from last Friday, -1.39% MTD & QTD, +1.38% YTD.
NASDAQ closes week at 4,483.72, +5.29% from last Friday, -0.22% MTD & QTD, +7.35% YTD.
SPX closes week at 1,964.58, +4.12% from last Friday, -0.39% MTD & QTD, +6.29% YTD.
Level 3 Communications(PBR389) receives FTC approval for $7.3 billion acquisition of tw telecom(NASDAQ: TWTC). Click here for the Level 3 press release.
Chiquita Brands(PBR658) shareholders vote to not pursue Ireland based Fyffes merger deal, both sides terminate discussions, Chiquita to enter into more discussions with Brazilian based Cutrale-Safra Groups. Click here for the Chiquita Brands press release.
Frontier Communications(PBR492) completes its $2 billion acquisition of AT&T(PBR12) Connecticut’s wireline, broadband & video operations. Click here for the FC press release.
Proctor & Gamble(PBR32) in 1st quarter results announces plan to spinoff Duracell battery unit into a separate company. Click here for the P&G press release.
Avis Budget(PBR325) to acquire the Budget licensee, the Mirkin family, for S. California & Las Vegas for $210 million plus fleet cost. Click here for the AB press release.
Celanese(PBR377) increases shares repurchase program to $500 million. Click here for the Celanese press release.
SandRidge Energy(PBR884) files registration for MidCon Midstream, LP, for Initial Public Offering on NYSE. Click here for the SandRidge press release.
Blackhawk Network(PBR1058) completes $290 million acquisition of global incentive solutions provider Parago, will be a subsidiary. Click here for the BN press release.
DuPont(PBR82) EVP/Chief Innovation Officer Tom Connelly, Jr, to retire; SVP Jim Collins, Jr, to become EVP, SVP Matt Trerotola to become EVP, both become members of Office of the CEO, effective 12/01/14. Click here for the DuPont press release.
Avery Dennison(PBR402) names SVP/CFO Mitchell Butier President/COO, effective 11/01/14. Click here for the AD press release.
US Census/HUD report that the September annual rate of new home sales was 467,000, August was 466,000; median price was $259,000, average price $313,200. Click here for the Census/HUD press release.
Thursday, October 23:
Pfizer(PBR53) authorizes new $11 billion share buyback program, adds to $1.3 billion current program. Click here for the Pfizer press release.
Jarden(PBR341) to do 3:2 stock split on 11/24/14 for stockholders of record on 11/03/14. Click here for the Jarden press release.
Dr Pepper Snapple(PBR409) to buy back $375-400 million in shares per 3rd quarter results report. Click here for the Dr Pepper Snapple press release.
Chiquita Brands(PBR658) confirms receipt of $14.50/share revised offer from Cutrale & Safra Groups, ahead of Chiquita/Fyffes merger vote. Click here for the Chiquita Brands press release.
Coca-Cola Co(PBR58) Chief Marketing & Commercial Officer Joe Tripodi to retire 02/28/15, company veteran Marcos de Quinto to become CMO. Click here for the Coca-Cola Co press release.
Alcoa(PBR122) selling majority stake in Mt Holly Smelter in Goose Creek, SC, to Century Aluminum for $67.5 million. Click here for the Alcoa press release.
FreddieMac(PBR33) reports that 30 year fixed mortgage rates are at 3.92% with 0.5 points. Click here for the FreddieMac press release.
Carpenter Technology(PBR836) announces 2 year $500 million stock repurchase plan. Click here for the Carpenter Technnology press release.
Allegheny Technologies(PBR566) announces Elizabeth Powers as new SVP, Chief Human Resources Officer, effective 11/01/14. Click here for the Allegheny Technologies press release.
EMCOR(PBR385) announces $250 million share buyback program. Click here for the EMCOR press release.
Asbury Automotive(PBR449) appoints David Hult as next EVP/Chief Operating Officer, effective 11/03/14. Click here for the Asbury Auto press release.
Wednesday, October 22:
SunEdison(PBR882) gets agreement to build 30 solar systems for 9 public agencies in San Francisco area. Click here for the SunEdison press release.
AT&T(PBR12) in its 3rd quarter earnings report says it has 2 million wireless net additional subscribers year to date. Click here for the AT&T press release.
Brunswick(PBR576) authorizes up to $200 million over 2 years for shares repurchase program. Click here for the Brunswick press release.
Johnson & Johnson(PBR39) makes $200 million commitment to speed Ebola vaccine development & greatly expand production. Click here for the JNJ press release.
Actavis(PBR297) to invest $40 million & get exclusive option after Phase 2b study to buy a Rhythm subsidiary & its gastrointestinal product rights. Click here for the Actavis press release.
A. Schulman(PBR854) realigning its European back office & support functions, reducing headcount. Click here for the A Schulman press release.
Davita Healthcare(PBR309) to acquire 100+ physicians 11 locations Colorado Springs Health Partners, to close in 4th quarter. Click here for the Davita press release.
First Horizon National’s(PBR1027) First Tennessee Bank to expand into N. Carolina with TrustAtlantic acquisition. Click here for the FHN press release.
FreddieMac(PBR33) releases its October US Economic & Housing Market Outlook & forecast. Click here for the FreddieMac press release.
The US Dept of Labor reports that September average weekly earnings were $848.74, up from $846.63 in August. Click here for the USDOL press release.
The US Dept of Labor reports that the September Consumer Price Index for all items was +0.1% over August, was -0.2% in August, is +1.7% over past 12 months. Click here for the USDOL press release.
Tuesday, October 21:
Coca-Cola Co(PBR58) refranchising most bottling operations by end of 2017, rest of world by 2020. Click here for the Coca-Cola press release.
Kimberly-Clark(PBR130) in 3rd quarter results report announces layoffs of 1,100-1,300 by end of 2016. Click here for the Kimberly-Clark press release.
Amgen(PBR144) confirms receipt of letter from key shareholder Third Point suggesting company separate into two companies. Click here for the Amgen press release.
FIS(PBR406) to appoint Pres/COO Gary Norcross as Pres/CEO on 01/01/15, Chairman/CEO Frank Martire as Exec Chairman. Click here for the FIS press release.
The National Association of Realtors reports that September existing home sales were at a 5,170,000 annual rate, +2.4% over August, median price was $209,700. Click here for the NAR press release.
Monday, October 20:
AbbVie(PBR142) terminates inversion merger talks with Ireland based Shire. Click here for the AbbVie press release.
AbbVie(PBR142) announces $5 billion shares buyback program, increases dividend. Click here for the AbbVie press release.
Citrix Systems(PBR683) acquires cloud-based signature capture company RightSignature, terms not disclosed. Click here for the Citrix press release.
Celanese(PBR377) has acquired the assets of conductive polymers co Cool Polymers, terms not disclosed. Click here for the Celanese press release.
Friday, October 17:
DJIA closes week at 16,380.41, -0.99% from last Friday, -3.89% MTD & QTD, -1.18% YTD.
NASDAQ closes week at 4,258.44, -0.42% from last Friday, –5.23% MTD & QTD, +1.96% YTD.
SPX closes week at 1,886.76, -1.02% from last Friday, -4.34% MTD & QTD, +2.08% YTD.
Cliffs Natural Resources(PBR421) to post a $6 billion non-cash impairment to long-lived assets. Click here for the CNR press release.
AECOM Technology(PBR316) completes $6 billion acquisition of engineering & construction firm URS. Click here for the AECOM press release.
Chiquita Brands(PBR658) board unanimously rejects $14/share offer by Brazil based Cutrale/Safra Groups. Click here for the Chiquita press release.
Asbury Automotive(PBR449) increases stock repurchase program to $200 million. Click here for the Asbury Automotive press release.
The US Census/HUD reports September Housing Starts at an annual rate of 1,017,000, +6.3% over August, +17.8% over September 2013; September Building Permits at annual rate of 1,018,000, +1.5% over August, +2.5% over September 2013. Click here for the Census/HUD press release.
Thursday, October 16:
Chesapeake Energy(PBR153) selling 435 wells to Southwestern Energy(PBR622) for $5.375 billion. Click here for the Chesapeake Energy press release.
Amazon(PBR36) to hire 80,000 holiday workers. Click here for the Amazon press release.
CF Industries(PBR438) and Yaro International ASA terminate discussions on possible merger. Click here for the CF Industries press release.
Cytec Industries(PBR893) announces $200 million stock repurchase program. Click here for the Cytec press release.
Gap Inc(PBR167) announces $500 million stock repurchase program, follows $1 billion repurchase plan. Click here for the Gap press release.
Wednesday, October 15:
Hewlett-PackardP(PBR17) resumes stock repurchase program, returning 50%+ of free cash flow to shareholders. Click here for the HP press release.
QUALCOMM(PBR109) to acquire UK chip maker CSR for $2.5 billion. Click here for the QUALCOMM press release.
Ingredion to acquire specialty ingredients provider Penford Corp for $340 million. Click here for the Ingredion press release.
Estee Lauder(PBR242) to acquire high-end fragrancy company Le Labo, expected to close in November, terms not disclosed. Click here for the Estee Lauder press release.
Alcoa(PBR122) selling its Jamalco bauxite mining & alumina refining joint venture stake to Noble Group for $140 million. Click here for the Alcoa press release.
Beacon Roofing(PBR826) is acquiring Dallas/Ft Worth based Wholesale Roofing Supply, terms not disclosed. Click here for the BR press release.
Frontier Communications(PBR492) receives Connecticut approval to acquire AT&T(PBR12) Connecticut’s wireline service, expected to close on 10/24/14. Click here for the FC press release.
SunEdison(PBR882) Global Services Division exceeds 3 gigawatts of solar voltaic capacity worldwide. Click here for the SunEdison press release.
Chiquita Brands(PBR658) confirms receipt of $14/share revised offer from Brazil based Cutrale & Safra Groups. Click here for the Chiquita press release.
The US Dept of Labor reports that the September Producer Price Index was down -0.1%, is up 1.6% for past 12 months. Click here for the USDOL press release.
The US Dept of Commerce in the September Advance Monthly Retail/Food Services reports sales -0.3% from August, up 4.3% from Sept 2013. here for the USDOC press release.
Tuesday, October 14:
ANN(PBR772) enters into non-disclosure agreement with major stockholder Golden Gate Capital for more detailed discussions. Click here for the ANN press release.
The new board of Darden Restaurants(PBR392) appoints President/COO Gene Lee as Interim CEO, effective immediately. Click here for the Darden press release.
CME Group(PBR678) to layoff 5% of workforce, 150 positions, mostly from technology. Click here for the CME Group press release.
Gap Inc(PBR167) plans to hire 63,000 holiday season employees. Click here for the Gap press release.
Agilent Technologies(PBR365) to close its nuclear magnetic resonance business, will eliminate 300 jobs over next 12 months. Click here for the Agilent press release.
Alliance Data(PBR537) Canadian Loyalty Business signs multi-year agreement with 450 store pharmaceutical retailer Rexall. Click here for the Alliance Data press release.
Monday, October 13, Columbus Day:
Targa Resources(PBR375) is buying Atlas Pipeline & Atlas Energy(PBR748) for $7.7 billion. Click here for the Targa press release.
STERIS(PBR966) is buying UK based hospital sterilization technologies Synergy Health for $1.9 billion cash & stock. Click here for the STERIS press release.
Danaher(PBR139) to combine its Communications business with NetScout Systems(NASDAQ: NTCT) in $2.6 billion deal, to close in 2015. Click here for the Danaher press release.
General Electric(PBR9) Capital Aviation Services to acquire Ireland based helicopter lessor Milestone Aviation Group for $1.775 billion. Click here for the GE press release.
Archer-Daniels-Midland(PBR27) to acquire healthy ingredients provider Specialty Commodities for $170 million, will become part of WILD Flavors unit. Click here for the ADM press release.
JCPenney(PBR225) names Home Depot(PBR35) executive Marvin Ellison as president effective 11/01/14, to become CEO in August, 2015. Click here for the JCP press release.
AES Corp(PBR171) is selling its Turkey based energy development assets for $125 million, to close in 1st quarter 2015. Click here for the AES press release.
Ford Motor(PBR8) to hire 850 additional workers for its Dearborn Rouge F-150 plant. Click here for the Ford press release.
France’s Iliad confirms it is no longer pursuing a merger with T-Mobile US(PBR115). Click here for the Iliad press release.
Becton Dickinson(PBR319) acquires Irish based sequencing & genotyping company GenCell Biosystems, terms not disclosed. Click here for the BD press release.
Arthur J Gallagher(PBR648) is acquiring Decatur, IL retail insurance broker Bennett & Shade Co, terms not disclosed. Click here for the AJG press release.
Friday, October 10:
DJIA closes week at 16544.10, -2.74% from last Friday, -2.93% MTD & QTD, -0.20% YTD.
NASDAQ closes week at 4,276.24, -4.45% from last Friday, -4.83% MTD & QTD, +2.39% YTD.
SPX closes week at 1,906.13, -3.14% from last Friday, -3.35% MTD & QTD, +3.13% YTD.
Darden Restaurants(PBR392) preliminary results shows Starboard’s 12 nominees elected to board, new CEO to be appointed. Click here for the Darden press release.
The Blackstone Group(PBR372) financial advisory services units to spin-off, join PJT Partners, become a new public company in 2015. Click here for the Blackstone press release.
Medtronic(PBR162) announces structure & executive leadership team upon anticipated merger with Covidien. Click here for the Medtronic press release.
Caterpillar(PBR49) announces retirement of 2 group presidents, new appointments. Click here for the Caterpillar press release.
CIT Group(PBR606) & Century Tokyo Leasing form partnership for aerospace leasing. Click here for the CIT Group press release.
Amphenol(PBR504) 2:1 stock split takes effect.
Thursday, October 9:
Endo Health(PBR738) to acquire Auxilium Pharmaceuticals for $33.25/share, $2.6 billion cash & stock. Click here for the Endo Health press release.
Symantec(PBR368) to split into 2 public companies by end of 2015, a security company and an information technology company. Click here for the Symantec press release.
Kindred Healthcare(PBR476) to acquire Gentiva Health(PBR940) for $19.50/share, $1.8 billion, includes debt, to close in 1st quarter 2015. Click here for the Kindred press release.
Time Warner Cable(PBR125) shareholders approve $45.2 billion merger with Comcast(PBR44). Click here for the TWC press release.
Alaska Air(PBR459) & Association of Flight Attendants reach tentative agreement on a new 5 year contract with carrier’s 3,300 flight attendants. Click here for the Alaska Air press release.
Ashland(PBR331) selling non-core elastomers business to Lion Copolymer Holdings, terms not disclosed. Click here for the Ashland press release.
Hill-Rom(PBR945) appoints former Baxter International(PBR176) executive Carlyn Solomon as new COO. Click here for the Hill-Rom press release.
The US Census Bureau reports that August sales of merchant wholesalers was $453.9 billion, down 0.7% from July, up 5.8% from August 2013. Inventories were at $538.0 billion, up 0.1% from July, up 7.9% from August 2013. Click here for the USCB press release.
Wednesday, October 8:
Graco(PBR1066) selling its Liquid Finishing business assets to Carlisle Companies(PBR676) for $590 million cash, to close 1st quarter 2015. Click here for the Graco press release.
EMC Corp(PBR119) sent letter by shareholder Elliott Management recommending spin-off of VMWare(PBR454). Click here for the Business Wire article, which includes letter.
Yahoo!(PBR495) is laying off a third, around 500, of its India staff according to several news sources.
Gap Inc(PBR167) CEO Glenn Murphy to retire on 02/01/15, GAP digital leader Art Peck will then become next CEO. Click here for the Gap press release.
Advanced Micro Devices(AMD)(PBR451) appoints Dr. Lisa Su as president/CEO, effective immediately as Rory Read steps down. Click here for the AMD press release.
The Congressional Budget Office reports FY2014 Fed Govt receipts were $3.013 trillion, outlays were $3.499 trillion, deficit is $486 billion, down from $680 billion in FY2013. Cllick here for the CBO press release.
The Federal Reserve Board releases the minutes of its Federal Open Market Committee meeting held 09/16-17/14. Click here for the FRB FOMC minutes.
Tuesday, October 7, 2014:
DISH Network(PBR199) extends its multi-year agreement with Frontier Communications(PBR492) to bundle DISH services with its internet technologies. Click here for the DISH press release.
Cognizant Technology(PBR292) acquires digital marketing agency Cadient Group, terms not disclosed. Click here for the Cognizant press release.
Kimberly-Clark(PBR130) announces details for completion of publicly held health care spin-off Halyard Health by end of October. Click here for the Kimberly-Clark press release.
The US Dept of Labor reports that at the end of August there were 4.8 million job openings, up 0.2 million from July, that the hire rate was 3.3%, and the separations rate was 3.2%. Click here for the USDOL press release.
The US Federal Reserve Board reports that the August consumer credit annual rate was up 5%, revolving credit -0.25%, non-revolving credit +7%. Click here for the FRB press release.
Monday, October 6:
Chevron(PBR3) selling 30% interest in the Canada’s Duvernay shale assets to Kuwait based KUFPEC for $1.5 billion, now a joint partnership. Click here for the Chevron press release.
Hewlett-Packard(PBR17) to split into 2 public companies, Hewlett-Packard Enterprise & HP, Inc. by the end of 2015. Click here for the HP press release.
Actavis(PBR297) to buy developer of medicines for infectious diseases & acute illnesses Durata Therapeutics(NASDAQ: DRTX) for $23/share, $675 million. Click here for the Actavis press release.
Hilton Worldwide(PBR271) is selling the Waldorf Astoria New York to China based Anbang Insurance for $1.95 billion. Click here for the Hilton press release.
Liberty Interactive Corp(PBR232) splitting into 2 publicly held groups, QVC Group(NASDAQ: QVCA & QVCB) & eCommerce oriented Liberty Ventures Group(NASDAQ: LVNTA & LVNTB). Click here for the LIC press release.
BE Aerospace(PBR608) appoints Joseph Lower as VP/Finance, will become CFO up separation of KLX unit. Click here for the BEA press release.
Sunday, October 5:
Becton Dickinson(BD)(PBR319) to buy medical devices & instruments developer CareFusion(PBR580) for $12.2 billion. Click here for the BD press release.
Friday, October 3:
DJIA closes week at 17,009.69, -0.60% from last Friday, -0.19% MTD & QTD, +2.61% YTD.
NASDAQ closes week at 4,475.62, -0.81% from last Friday, -0.40% MTD & QTD, +7.16% YTD.
SPX closes week at 1,967.90, -0.75% from last Friday, -0.22% MTD & QTD, +6.47% YTD.
Medtronic(PBR162) announces plan for $16 billion in external debt to help finance the $49.2 billion Covidien deal. Click here for the Medtronic press release.
KKR(PBR270) Natural Resources & Fleur de Lis Energy to acquire Permian Basin properties from Linn Energy for $350 million. Click here for the Medtronic press release.
Sigma-Aldrich(PBR715) to acquire immunohistochemistry 90 person firm Cell Marque, terms not disclosed. Click here for the S-A press release.
JPMorgan Chase(PBR18) completes its $3.5 billion sale of its physical commodities business to Mercuria Energy Group & others. Click here for the JPMC press release.
Chiquita(PBR658) & Ireland based Fyffes receive European Commission approval for merger, special shareholders meeting set of 10/24/14. Click here for the Chiquita press release.
The US Dept of Labor reports 248,000 more people were working in Sept, the unemployment rate drops from 6.1% to 5.9%. Click here for the USDOL press release.
The US Dept of Commerce reports total August exports of $198.5 billion, imports of $238.6 billion, for a deficit of $40.1 billion, down from $40.3 billion in July. Click here for the USDOC press release.
Thursday, October 2:
Constellation Brands(PBR479) to acquire Mexico based AB InBev glass plant for $300 million, expand beer production, & additional plans. Click here for the CB press release.
Dow Chemical(PBR48) updates progress on $4.5-$6 billion in planned non-strategic divestitures by end of 2015. Click here for the DC press release.
Berkshire Hathaway(PBR4) to acquire largest US privately owned auto dealership Van Tuyl Group, terms not disclosed. Click here for the BH press release.
Sears Holdings(PBR81) to generate $380 million from sale of Sears Canada, close expected early November. Click here for the Sears press release.
FIS(PBR406) completes $600 million acquisition of Brussels based payments solution provider Clear2Pay. Click here for the FIS press release.
Dover(PBR295) has acquired oil & gas artificial lift & fluid handling solutions provider Accelerated Companies for $430 million. Click here for the Dover press release.
Walt Disney(PBR62) extends Chairman/CEO Robert Igor’s contract through 06/30/18. Click here for the Walt Disney press release.
The US Dept of Commerce says August new orders for manufactured goods was -$56.1 billion from July, -10.1%, to $502.0 billion. Click here for the USDOC press release.
The US Dept of Labor reports that initial jobless claims for week ending 09/27/14 was 287,000, down 8,000 from the previous week. Click here for the USDOL press release.
Wednesday, October 1:
The PBR1000 September 2014 Breaking News Recap has been released. Click here for the The PBR1000 September Breaking News Recap blog.
ADP(PBR217) completes spin-off of its Dealer Services unit CDK Global(NASDAQ: CDK). Click here for the ADP press release.
Enterprise Products(PBR56) acquires the general partner & LP interests in Oiltanking Services(NYSE: OILT) for $4.41 billion, proposes merger for $6 billion. Click here for the EP press release.
Archer-Daniels-Midland(PBR27) completes $3.13 billion acquisition of Swiss company WILD Flavors. Click here for the ADM press release.
Bank of America(PBR21) board adds Chairman title to CEO Brian Moynihan, effective immediately. Click here for the BofA press release.
General Motors(PBR7) outlines its strategic plan to achieve 9-10% margins. Click here for the GM press release.
Dollar General(PBR154) extends its $80/share offer to acquire Family Dollar(PBR254) from 10/08/14 to 10/31/14. Click here for the Dollar General press release.
Owens & Minor(PBR285) completes acquisition of procedure based kits & trays provider Medical Action Industries for $207 million. Click here for the O&M press release.
Fastenal(PBR625) has acquired aerospace product distributor Av-Tech Industries, terms not disclosed. Click here for the Fastenal press release.
Carlisle(PBR676) acquires medical devices interconnect components provider LHi Technology for $195 million. Click here for the Carlisle press release.
Beacon Roofing Supply(PBR826) has acquired Portland, ME, based residential roofing, siding, & windows distributor Applicators Sales & Service, terms not disclosed. Click here for the Beacon press release.
Babcock & Wilcox(PBR636) evaluating possible split into 2 public companies, Power Generation & Government/Nuclear Operations. Click here for the B&W press release.
SunEdison(PBR882) new proprietary polysilicon technology to slash cost of solar power to $0.40/watt by 2016. Click here for the SunEdison press release.
Lehigh Gas Partners(PBR894) general partner purchased by CST Brands, name changed to CrossAmerica Partners, LP, will start trading on NYSE: CAPL.
Centrus Energy(PBR1030), fka USEC Corporation, names Mikel Williams as chairman, Chief Restructuring Officer John Castellano to become Interim President/CEO on 10/17/14 while search for CEO starts. Click here for the SunEdison press release.
The US Census Bureau reports that the construction spending annual rate for August was $961.0B, down from $968.8B in July. Click here for the Census press release.
(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, Vichaya Kiatying-Angsulee.)
