Company & Stock News

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October 13, 2019 Company and Stock News

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July 19, 2019 Company and Stock News

  • The Boeing Company (BA) to record an after-tax charge of $4.9 billion ($8.74 per share) for the quarter ended June 30, 2019 related to the grounding of its 737 MAX airplanes
  • Anheuser-Busch InBev (BUD) agreed to divest its Carlton & United Breweries subsidiary to Asahi Group Holdings, Ltd. for 16.0 billion AUD ($10 billion)
  • Reuters reported that a U.S. judge reduced a $2 billion damages claim million that was awarded to a California couple regarding Bayer’s Corporation’s Roundup weed killer to $250 million
  • U.S. Steel (X) to lay off 2,500 people at its factory in Slovakia by the end of 2021
  • Reuters reported that Lockheed Martin (LMT) was awarded a $1.48 billion contract to build the THAAD missile defense system for Saudi Arabia, bringing the total value of the deal to $5.36 billion
  • U.S. News reported that Cummins Inc. (CMI) made an offer to acquire Volkswagen’s MAN Energy Solutions unit
  • PepsiCo (PEP) entered into agreement to acquire all the outstanding shares of Pioneer Foods Group Ltd. for R110.00 per share in cash ($1.7 billion)
  • Variety.com reported that Roku, Inc. (ROKU) is planning to expand to multiple international territories
  • Discover Financial Services (DFS) announced that its Board of Directors authorized the company to repurchase $2.2 billion shares of its stock

July 18, 2019 Company and Stock News

  • The Wall Street Journal reported that Anheuser-Busch InBev (BUD) is considering selling its business units in South Korea, Australia and Central America in an effort to reduce its approximately $100 of debt
  • The Federal Aviation Administration reported that interference from passenger cell phones might pose a crash threat to some of The Boeing Company’s (BA) 737 and 777 airplanes
  • Reuters reported that General Motors (GM) is planning to unveil tonight its newly designed mid-engine 2020 Corvette, which is designed to compete with high-performance sports cars manufactured by Lamborghini and Ferrari
  • The European Commission announced that it fined QUALCOMM Incorporated (QCOM) €242 million ($272 million) for selling its 4G baseband chipsets at prices below cost in an effort to eliminate competitors
  • Inseego Corp. (INSG) and Verizon Communications (VZ) debuted today the launch of Inseego’s M1000 5G hotspot and 5G-enabled device, which provides large bandwidth and fast download speeds required for video streaming, virtual reality and industrial IoT applications and is available exclusively to Verizon’s customers
  • Reuters reported that Southwest Airlines (LUV) joined several other airlines in cancelling more flights until early November due to the continued grounding of The Boeing Company’s (BA) 737 MAX
  • Reuters reported that the European Union approved Vodafone Group’s (VOD) planned acquisition of Liberty Global plc’s (LBTYA) cable networks in Germany and central Europe
  • Red Robin Gourmet Burgers (RRGB) announced that it received an unsolicited conditional proposal from Vintage Capital Management, LLC to acquire all of the company’s outstanding common stock for $40.00 per share in cash

June 14, 2019 Company and Stock News

  • Boeing (BA) entered into agreement to acquire California-based EnCore Group, a designer and producer of galleys and seats for airlines
  • Cheniere Energy (LNG) started production of liquefied natural gas from its second liquefaction train at its Corpus Christi, Texas facility
  • Diana Shipping (DSX) signed an agreement to sell its Thetis ship to an unaffiliated third-part for $6.4 million; separately, the company announced that it commenced a tender offer to purchase up to 2 million shares of its common stock
  • The Meet Group (MEET) announced that its Board of Directors authorized the company to repurchase up to $30 million of its common stock
  • Abercrombie & Fitch (ANF) announced that its Board of Directors authorized the company to repurchase up to 7.6 million shares of its common stock, including 2.6 million shares of planned stock repurchases that remain under a prior authorization
  • Synopsys (SNPS) announced that its Board of Directors authorized the company to repurchase up to $500 million of its common stock

April 26 Company and Stock News

  • Walmart (WMT) announced that it’s now offering free delivery of products in only one day for products ordered online by the company’s customers, without the payment of any membership fees
  • Bloomberg News reported that Tesla (TSLA) CEO, Elon Musk, settled his legal dispute with the U.S. Securities and Exchange Commission, with Musk agreeing that he will not tweet about Tesla’s financial condition, potential mergers or acquisitions, production and sales numbers, new or proposed business lines, financial projections and/or forecasts that the company has not published prior to such tweets
  • The Wall Street Journal reported that PayPal Holdings (PYPL) is planning to invest $500 million in Uber Technologies (UBER)
  • Lennar Corporation (LEN) announced that it closed on a lot purchase agreement with privately-held Level Homes, which results in the company now controlling an additional 1,602 new home sites and approximately 13% of the total market share in new home construction across seven communities throughout the Raleigh, North Carolina market

April 5, 2019 Company and Stock News

  • Boeing (BA) announced that it’s temporarily reducing the production of its 737 MAX jets to 42 planes per month, from 51 planes per month, in an effort to focus on the certification of its software updates
  • The Wall Street Journal reported that Apple Inc.’s (AAPL) Apple Music service has passed Spotify’s (SPOT) music service in U.S. subscribers by two million users
  • Bloomberg News reported that Petróleo Brasileiro (PBR) agreed to sell its TAG natural gas pipeline network to a consortium led by France’s Engie for $8.6B
  • Reuters reported that TransCanada Corporation (TRP) is exploring a potential sale of its Columbia Midstream unit in a deal that valued up to $1 billion
  • Elbit Systems (ESLT) and Harris Corporation (HRS) sign definitive agreement under which Elbit Systems will acquire Harris’ Night Vision business for $350 million in cash

March 29, 2019 Company and Stock News

  • The Wall Street Journal reported that Wells Fargo & Company (WFC) is holding discussions with Guggenheim Investments and Singapore’s Temasek Holdings to sell an ownership interest in its Eastdil Secured real-estate brokerage and investment banking division to those firms
  • AstraZeneca (AZN) enters into agreement with Daiichi Sankyo Company, Limited to collaborate on the development and commercialization of AstraZeneca’s trastuzumab deruxtecan treatment for breast cancer and gastric cancer

March 28, 2019 Company and Stock News

  • Amazon.com (AMZN) announced that it plans to expand its Austin Tech Hub in Texas and to hire 800 people to work at the hub in software and hardware engineering, research science, and cloud computing positions
  • Wabco Holdings (WBC) enters into definitive agreement to be acquired by ZF Friedrichshafen AG (“ZF”) for $136.50 per share in cash
  • PVH Corp. (PVH) announced that it will close its Tommy Hilfiger store on Fifth Avenue in New York City, as well as its Tommy Hilfiger Miami store on Collins Avenue in Miami, and that it will begin offering its Tommy Hilfiger products in Bloomingdale’s and Nordstrom by July 31, 2019
  • Church & Dwight (CHD) enters into agreement to acquire Flawless and Finishing Touch hair removal products brands from Ideavillage Products Corporation for 475 million in cash and an additional “earn-out” payment of up to $425 million based on 12-month net sales targets

March 27, 2019 Company and Stock News

  • Southwest Airlines (LUV) announced that it now expects its revenue per available seat mile to increase by 2%-3% from a year ago, down from a previous estimate of a 3%-4% increase
  • Ford Motor Company (F) signs memorandum of understanding to stop producing passenger automobiles at its Ford Sollers Netherlands B.V. joint venture factory in Russia by June 30, 2019 and to focus exclusively on the production of its commercial vehicles at those factories
  • ON Semiconductor (ON) and Quantenna Communications (QTNA) enter into definitive agreement for ON Semiconductor to acquire Quantenna for $24.50 per share in cash
  • FAT Brands Inc. (FAT) announced that it will change the name of its restaurants to Skinnyburger, from Fatburger, due to “popular demand” for its Skinnyburger, which is a low-carb, lean-beef burger

March 26, 2019 Company and Stock News

  • The Wall Street Journal reported that three activist investors are preparing to launch a proxy fight to replace Bed Bath & Beyond Inc.’s (BBY) entire board of directors
  • Wayfair (W) announced that it will open its first full-service physical retail store later this year in the Natick Mall in Natick, Massachusetts and that it will open four pop-up shops this coming summer
  • The U.S. International Trade Commission (“ITC”) ruled that Apple (AAPL) did not infringe on a QUALCOMM (QCOM) patent in its iPhones; separately, an Administrative Judge for the ITC ruled that Apple Inc. infringed upon three of QUALCOMM’s patents
  • Centene Corporation (CNC) and WellCare Health Plans WCG) announced that Centene will acquire WellCare for 3.38 shares of Centene common stock and $120 in cash for each share of WellCare common stock

March 25, 2019 Company and Stock News

  • Apple (AAPL) announced today several new offerings, including the following: Apple TV+, which will provide users with access to exclusive original shows, movies and documentaries in approximately 100 countries; Apple News+, which will provide users with access to approximately 300 publications; Apple Arcade, which will offer video games from acclaimed developers, major studios and legendary creators; and Apple Card, a new type of credit card that will have low interest rates, no annual, late, or over-the-limit fees and no card number, CVV security code, expiration date or signature on the card, making the card more secure than physical credit cards
  • AT&T (T) announced that it will continue to provide Viacom’s (VIAB) programming on AT&T’s DirectTv service
  • Ascena Retail Group (ASNA) signs definitive agreement to sell a majority interest in its Maurices subsidiary to an affiliate of OpCapita LLP for approximately $300 million
  • Cousins Properties (CUZ) and Tier REIT (TIER) enter into definitive merger agreement to combine in a stock-for-stock transaction
  • Biogen (BIIB) reported that its Board of Directors authorized the company to repurchase up to $5 billion of its common stock in addition to approximately $1.7 billion of stock that remain under a prior authorization

March 22, 2019 Company and Stock News

  • General Motors (GM) announced that it’s investing $300 million in its Orion Township, Michigan, assembly plant to produce a new Chevrolet electric vehicle that will bring 400 new jobs to the Orion plant
  • The Wall Street Journal reported that Avon Products (AVP) discussed a potential sale of the company to Brazil-based Natura & Co.

March 21, 2019 Company and Stock News

  • Murphy Oil (MUR) signs agreement to sell its two primary Malaysian subsidiaries to a subsidiary of PTT Exploration and Production Public Company Limited for $2.127 billion, in cash, plus up to an additional $100 million bonus payment; the company stated that it intends to use proceeds from the sale to reduce its debt by approximately $750 million and to repurchase $500 million of its stock

March 20, 2019 Company and Stock News

  • E.W. Scripps (SSP) enters into agreement to acquire eight television stations in seven markets from Nexstar Media Group (NXST) for $580 million
  • Pfizer (PFE) acquires a 15% equity interest in Vivet Therapeutics, a privately-held gene therapy company that develops treatments for inherited liver disorders and other metabolic diseases, for €45 million (51 million) and milestone payments of up to €560 million ($635.8 million)
  • Starbucks (SBUX) invests $100 million into Valor Siren Ventures I L.P. in an effort to identify and invest in new food-related technologies
  • AutoZone (AZO) announced that its board of directors authorized the company to repurchase an additional $1 billion of its common stock in connection with its ongoing share repurchase program
  • Radian Group (RDN) announced that its board of directors authorized the company to increase its stock repurchases to $250 million from $100 million

March 19, 2019 Company and Stock News

  • Variety.com reported that Netflix’s (NFLX) CEO, Reed Hastings, stated at a press event in Los Angeles that the company will not integrate its services with Apple’s new video service
  • Jones Lang LaSalle (JLL) enters into definitive agreement to acquire HFF, Inc., a privately-held commercial real estate intermediary, for $24.63 in cash and 0.1505 of JLL shares for each HFF share

March 18, 2019 Company and Stock News

  • Reuters reported that Caesars Entertainment Corporation (CZR) and Eldorado Resorts, Inc (ERI) are in the early stages of exploring a merger
  • Fidelity National Information Services (FIS) and Worldpay, Inc. enter into definitive merger agreement under which Fidelity National will pay Worldpay’s shareholders 0.9287 shares of its stock and $11.00 in cash for each share of Worldpay that they own
  • Cushman & Wakefield (CWK) announced that certain of its shareholders, including affiliates of TPG Global, LLC and Ontario Teachers’ Pension Plan, commenced a public offering of 16.5 million shares of the company’s ordinary shares
  • Newell Brands (NWL) signs definitive agreement to sell its Process Solutions Business to private-equity firm One Rock Capital Partners, LLC for approximately $500 million after taxes
  • Atlassian (TEAM) enters into definitive agreement to acquire AgileCraft, a privately-held provider of enterprise agile planning software, for approximately $166 million

March 15, 2019 Company and Stock News

  • QUALCOMM (QCOM) announced that a jury in the U.S. District Court for the Southern District of California ordered Apple (AAPL) to pay QUALCOMM $31 million in damages for infringing upon the company’s patents

March 14, 2019 Company and Stock News

  • Boeing (BA) announced that it paused deliveries of its 737 MAX airplanes
  • Reuters reported that Judge Gonzalo Curiel of the U.S. District Court for the Southern District of California ruled that QUALCOMM Incorporated (QCOM) is obligated to pay approximately $1 billion in rebate payments to Apple (AAPL); in spite of the ruling, QUALCOMM will likely never pay that amount because Apple has already withheld approximately $1 billion of separate payments to QUALCOMM

March 13, 2019 Company and Stock News

  • JPMorgan Chase & Co.’s (JPM) retail bank announced that it’s planning to open 90 new branches in new markets during 2019, and that it will hire up to 700 new employees by the end of 2019 to work at those branches
  • The Boeing Company (BA) announced that the U.S. Federal Aviation Administration ordered the company to suspend operations of its entire global fleet of 371 737 MAX aircraft until a further investigation is completed regarding the recent crashing of Ethiopian Flight 302
  • InsuranceJournal.com reported that jurors in an Oakland, California court ordered Johnson & Johnson (JNJ) to pay $29 million to a California woman dying of cancer who blamed the company’s asbestos-tainted talcum powder for causing her cancer

March 12, 2018 Company and Stock News

  • JetBlue Airways (JBLU) reported that its revenue passenger miles rose by 6% during February, as compared to the same month a year ago
  • The U.S. Securities and Exchange Commission announced that it brought charges against Lumber Liquidators (LL) for making fraudulent misstatements to investors; as result of the fraud, the company was ordered to pay approximately a $33 million fine

March 11, 2019 Company and Stock News

  • NVIDIA (NVDA) and Mellanox Technologies (MLNX) reach agreement under which NVIDIA will acquire Mellanox for $125 per share in cash, representing a total enterprise value of approximately $6.9 billion
  • Tesla (TSLA) announced that it will need to raise the prices of the more expensive variants of its Model 3, Model S and Model X vehicles by approximately 3%; additionally, the company stated that it will close approximately half as many stores as it announced previously
  • Barrick Gold (GOLD) and Newmont Mining (NEM) sign agreement to create a joint venture combining their respective mining operations, assets, reserves, and talent in Nevada
  • Ross Stores (ROST) announced that it plans to open approximately 100 new stores – 75 Ross and 25 dd’s DISCOUNTS locations – during the 12 months ending February 2, 2019
  • F5 Networks (FFIV): F5 Networks, Inc. and NGINX, a privately-held provider or open source software, enter into a definitive agreement under which F5 will acquire NGINX for approximately $670 million

March 8, 2019 Company and Stock News

  • DowDuPont (DWDP) announced that its board of directors approved the previously-announced separation of DowDuPont’s Materials Science Division, which will become the new Dow Inc. on April 1 and trade on the New York Stock Exchange under the ticker symbol DOW
  • Caesars Entertainment (CZR) reported that Carl Icahn increased his investment funds’ ownership interest in the company to 15.5%, from 10%
  • Medtronic Public Limited Company (MDT) announced that its board of directors authorized the company to repurchase $6 billion of its stock in addition to purchasing approximately $1.3 billion of its stock that remain under a prior authorization.

March 7, 2018 Company and Stock News

  • Tesla (TSLA) announced that its new V3 Superchargers, which the company is launching today in the San Francisco Bay area, enables its automobiles to charge faster than any other electric vehicle; according to the company, the V3 charger will ultimately reduce the amount of time that its customers spend charging their Tesla automobiles by an average of 50%, or to approximately 15 minutes
  • Johnson Controls International (JCI) announced that its board of directors authorized the company to repurchase an additional $8.5 billion of its stock

March 6, 2019 Company and Stock News

  • Zayo Group Holdings (ZAYO) announced that its Board of Directors and management team are evaluating strategic alternatives to potentially enhance shareholder value
  • The Federal Reserve announced that it approved Fifth Third Bancorp’s (FITB) proposal to acquire MB Financial, Inc. (MBFI)

March 5, 2019 Company and Stock News

  • Align Technology (ALGN) announced that it will close its 12 Invisalign retail Stores by April 3, 2019 to concur with an arbitration ruling that determined that the company breached a non-compete provision applicable to SDC Financial LLC, and that it will not open any new retail stores until at least after August 18, 2022
  • Delta Air Lines (DAL) announced that it’s taking out a $1 billion short-term loan to repurchase $1.3 billion of its stock by March 31, 2019
  • GameStop (GME) announced that its board of directors authorized the company to repurchase up to $300 million of its stock, including $170 million of repurchases that remain under a prior authorization; additionally, the company announced that it plans to redeem $350 million of outstanding unsecured senior notes scheduled to mature in October 2019

March 4, 2019 Company and Stock News

  • The Wall Street Journal reported that AT&T’s (T) Warner Media subsidiary is planning to consolidate all its affiliates and ad sales groups under one structure, with those units organized under entertainment networks, live programming, content production and affiliate and advertising sales
  • Juniper Networks (JNPR) enters into definitive agreement to acquire Mist Systems, a privately-held provider of cloud-managed wireless networks powered by Artificial Intelligence, for $405 million in cash

March 1, 2019 Company and Stock News

  • Eaton Corporation (ETN) announced that it intends to pursue a tax-free spin-off of its Lighting business by the end of 2019
  • MarketWatch reported that Walgreens Boots Alliance’s (WBA) CFO said the company’s reimbursements are not as high as it had expected at the beginning of 2019

February 26, 2019 Company and Stock News

  • Aurora Cannabis (ACB) agrees to acquire a 51% ownership interest in Portugal-based Gaia Pharm Lda. to establish a facility in Portugal to produce medical cannabis and derivative products; separately, the company announced that its Aurora Sky and MedReleaf Bradford facilities are now fully licensed by Health Canada for the production and sale of cannabis and cannabis derivative products in Canada
  • Dean Foods (DF) announced that it’s exploring potential strategic alternatives to enhance shareholder value, including the disposition of certain assets, the formation of a joint venture, a strategic business combination and a sale of the company
  • The Gap (GPS) announced that its board of directors authorized the company to repurchase $1 billion of its common stock

February 25, 2019 Company and Stock News

  • Reuters reported that the U.S. Securities and Exchange Commission stated that a federal court should hold Tesla Inc.’s (TSLA) CEO, Elon Musk, in contempt for violating last year’s settlement with the regulatory agency due to reportedly inaccurate comments that Musk tweeted on February 19
  • CNBC reported that The Kraft Heinz Company (KHC) hired Credit Suisse to review options for its Maxwell House coffee business, which might include a potential sale of the business
  • General Electric Company (GE) and Danaher Corporation (DHR) enter into definitive agreement for Danaher to acquire GE’s BioPharma business for $21.4 billion, including $21 billion in cash
  • Barrick Gold (GOLD) announced that it made a proposal to Newmont Mining’s (NEM) Board of Directors to merge with Newmont in an all-share transaction conditional on Newmont not proceeding with its proposed merger with Goldcorp (GG)
  • Avon Products (AVP) announced that it plans to expand its online sales via a new Content Studio that will provide an ongoing stream of content, delivered at scale, in multiple languages
  • Target (TGT) announced that it’s launching a new assortment of merchandise via the company’s Internet web site from a select group of third-party sellers

February 22, 2019 Company and Stock News

  • Magellan Health (MGLN) announced that Starboard Value LP provided notice to the company of its intent to nominate six candidates for election to the Board of Directors at the Company’s 2019 Annual Meeting of Shareholders with the goal of exploring “all potential strategic alternatives” in an effort to increase the company’s market value

February 21, 2019 Company and Stock News

  • Fitch Ratings downgrades Newell Brands (NWL) long-term default rating to ‘BB+’ from ‘BBB-
  • The Coca-Cola Company (KO) announced that its board of directors authorized the company to repurchase 150 million shares of its common stock in addition to planned repurchases that remain under a prior authorization
  • Verizon Communications (VZ) announced that it plans to launch its 5G Ultra Wideband Network in more than 30 U.S. cities by the end of 2019

February 20, 2019 Company and Stock News

  • Bloomberg News reported that Amazon.com (AMZN) invested $700 million into Rivian Automotive LLC, a privately-held manufacturer of electric trucks
  • China-based Kandi Technologies Group, Inc. (KNDI) announced that the United States’ National Highway Traffic Safety Administration approved the company’s Model EX3 and Model K22 electric vehicles for exporting to the United States

February 15, 2019 Company and Stock News

  • Axios.com reported that Apple (AAPL) agreed to acquire Pullstring, a privately-held designed and developer of highly-engaging voice applications
  • General Mills (GIS) reported that it plans to close its Carson, California yogurt manufacturing facility and that it expects to incur approximately $130 million of net expenses associated with the closing

February 14, 2019 Company and Stock News

  • Bloomberg News reported that Amazon.com (AMZN) will not build a new corporate campus in New York City, but that it will proceed with plans for a headquarters in Northern Virginia and an operations center in Nashville, Tennessee
  • The Washington Post reported that The Federal Trade Commission and Facebook (FB) are negotiating over a multi-billion dollar fine that would settle the agency’s investigation into the social media giant’s privacy practices

February 13, 2019 Company and Stock News

  • Caterpillar (CAT) announced that the three-month average of its worldwide sales of machines slowed to a 9% year-over-year increase during January from a 10% and 16% increase during December and November 2018, respectively
  • Johnson & Johnson (JNJ) announced that its Ethicon, Inc. subsidiary entered into a definitive agreement to acquire Auris Health, Inc., a privately-held developer of robotic technologies used in bronchoscopic diagnostic and therapeutic procedures, for approximately $3.4 billion in cash and milestone contingent payments of up to $2.35 billion
  • Arconic (ARNC) announced that it expects to invest approximately $100 million to expand its hot mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility and to hire 70 people to work at the facility
  • Alphabet, Inc’s (GOOG) Google unit announced that it plans to invest $13 billion in data centers and offices across the U.S. during 2019, with major expansions in 14 states
  • Louisiana-Pacific (LPL) announced that its Board of Directors authorized an additional stock repurchase plan under which the company may repurchase up to $600 million of its common stock
  • Ametek (AME) Ametek, Inc. announced that its board of directors authorized the company to increase its stock repurchase plan to $1.5 from approximately $1 million of repurchases that remain under a prior authorization

February 12, 2019 Company and Stock News

  • Molson Coors Brewing (TAP) announced that it will restate its financial statements for the years ended December 31, 2016 and 2017 due to an error that resulted in the company understating its deferred tax liability and income tax expense, and overstating its net income
  • Ellie Mae (ELLI) enters into definitive agreement to be acquired by private-equity firm Thoma Bravo, LLC for $99 per share in cash
  • JAB Holding Company, a privately-held German conglomerate, announced that it would make a tender offer for 150 million shares of Coty Inc.’s (COTY) Class A common stock at a price of $11.65 per share in cash
  • Wolverine World Wide (WWW) announced that its board of directors authorized the company to repurchase $400 million of its stock including $27 million that remain under a prior repurchase authorization.

February 11, 2019 Company and Stock News

  • Reuters reported that Apollo Global Management, LLC (APO) is close to entering into an agreement to acquire Cox Enterprises, a privately-held owner of 14 regional TV stations
  • Ingersoll-Rand (IR) makes binding offer to acquire Precision Flow Systems, a privately-held provider of fluid management systems, from funds advised by BC Partners Advisors L.P. and The Carlyle Group for $1.45 billion
  • Morgan Stanley (MS) enters into definitive agreement to acquire Solium Capital Inc., a global provider of software-as-a-service (“SaaS”) for equity administration, financial reporting and compliance, for CAD 19.15 per share in cash
  • Amazon.com (AMZN enters into definitive merger agreement to acquire eero, a privately-held provider of home WiFi systems

February 8, 2019 Company and Stock News

  • Walmart (WMT) announced that after experiencing approximately a 35% increase in online visits to its home destination web site, it’s now offering an online brand of furniture at competitive prices, MoDRN, with three collections of approximately 650 items
  • The Washington Post reported that Amazon.com (AMZN) is reconsidering its plan to operate at a new facility in New York City and to hire approximately 25,000 people to work at the facility after New York State’s Senate nominated an outspoken critic of the company and U.S. Congressional Representative Alexandria Ocasio-Cortez said she opposes the project

February 7, 2019 Company and Stock News

  • Reuters reported that a U.S. bankruptcy approved Sears Holdings Corporation’s (SHLDQ) Chairman Edward Lampert’s $5.2 offer to acquire the company
  • SunTrust Banks’ (STI) and BB&T Corporation’s (BBT) boards of directors approve definitive agreement for the companies to combine in an all-stock merger of equals valued at approximately $66 billion, creating the United States’ sixth-sized bank
  • Ford Motor Company (F) announced that will invest $1 billion in its Chicago assembly and stamping plants and hire an additional 500 people to work at the plant in preparation to launch three new SUVs later this year
  • Fitch Ratings revises its Rating Outlook for General Electric Company (GE) to Negative, from Stable
  • Foot Locker (FL) invests $100 million in GOAT Group, a privately-held online provider of athletic shoes
  • Yum! Brands (YUM) announced that its Taco Bell unit will now offer delivery of its products throughout the continental United States via Grubhub (GRUB)
  • Bank of America (BAC) increases its common stock repurchase program by $2.5 billion, to $22.5 billion

February 6, 2019 Company and Stock News

  • J.C. Penney (JCP) announced that it will stop selling major appliances, effective February 28, 2019, reduce its offerings of furniture, and emphasize its clothing and home furnishing products
  • Skyworks Solutions (SWKS) announced that its Board of Directors authorized the company to repurchase $2 billion of its common stock through January 30, 2021

February 5, 2019 Company and Stock News

  • GlaxoSmithKline (GSK) and Merck (MRK) enter strategic alliance to jointly develop and commercialize Glaxo’s M7824 protein immunotherapy for the treatment of multiple difficult-to-treat cancers
  • Shutterfly (SFLY) forms Strategic Review Committee and retains Morgan Stanley as financial advisor to review strategic alternatives, including a potential sale of the company
  • Apple (AAPL) announced that its Senior Vice President of Retail, Angela Ahrendts, expects to resign from the company during April

February 4, 2019 Company and Stock News

  • General Electric (GE) sets record date of February 14, 2019 for the spin-off of the company’s Transportation Systems Holdings (“SpinCo”) subsidiary
  • Papa John’s (PZZA) enters into securities purchase agreement with Starboard Value LP pursuant to which Starboard will make a $200 million strategic investment in the company with the option to make an additional $50 million investment
  • Maxwell Technologies (MXWL) enters into definitive agreement to be acquired by Tesla, Inc. (TSLA) for $4.75 per share of Maxwell’s stock
  • The Ultimate Software Group (ULTI) enters into definitive merger agreement to be acquired by an investor group led by private equity firm Hellman & Friedman for $331.50 per share in cash

February 1, 2019 Company and Stock News

  • Except for today’s release of quarterly earnings announcements from companies that trade on U.S. equity exchanges, there wasn’t any significant company news today.

January 31, 2019 Company and Stocks News

  • Blackstone Group (BX) and Tallgrass Energy (TGE): The Blackstone Group L.P. (BX) and Tallgrass Energy, LP (TGE) announced that affiliates of Blackstone Infrastructure Partners entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of Tallgrass’s management, to acquire a 100% of the membership interests in Tallgrass’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion
  • Francesca’s Holdings Corporation (FRAN) announced that it’s exploring strategic alternatives, including a potential sale of the company and making changes to its senior management

January 30, 2019 Company and Stock News

  • Electrek.com reported that Tesla, Inc. (TSLA) is updating its Model S and Model X offerings by launching less expensive options of those automobiles with a software-limited battery pack
  • The Michaels Companies (MIK) announced that it’s planning to close all of its 36 Pat Catan’s stores by February 28, 2019 and to later reopen up to 12 of those stores and rebrand them under the Michaels banner; the company stated that it expects to incur $44-$48 million in after-tax expenses as a result of the store closers, but to realize $20-$25 million in after-tax cash benefits from the store closings during its fiscal year ending February 28, 2020; separately, the company announced that it expects its comparable-store sales for the fourth quarter to be near the lower end of its previously-provided guidance range of -0.5% to 0.5%, and for its adjusted diluted earnings per common share to near the lower end of its previously-provided guidance of $1.42 and $1.47
  • Avon Products (AVP) announced that it expects to eliminate approximately 10% of its global workforce and to record approximately $151 in restructuring charges associated with the workforce reductions; the company stated that it expects to realize annualized pre-tax savings of approximately $130 million as a result of those workforce reductions
  • The Charles Schwab Corporation (SCHW) announced that its board of directors authorized the company to repurchase $4 billion of its stock

January 29, 2019 Company and Stock News

  • Kohl’s (KSS) and Weight Watchers (WTW) form strategic collaboration to promote a variety of health and wellness offerings
  • Pandora Media Inc.’s (P) shareholders approve the acquisition of the company by Sirius XM Holdings Inc. (SIRI); separately, Sirius XM announced that its Board of Directors authorized the company to repurchase an additional $2 billion of its common stock

January 28, 2108 Company and Stock News

  • Entegris, Inc. (ENTG) and Versum Materials, Inc. (VSM) agree to combine in a merger of equals; under the terms of the agreement, Versum Materials stockholders will receive 1.120 shares of Entegris for each existing Versum Materials share
  • Chemical Financial Corporation (CHFC) and TCF Financial Corporation (TCF) sign definitive agreement to combine in an all-stock merger of equals transaction; under the terms of the agreement, TCF shareholders will receive 0.5081 shares of Chemical common stock for each share of TCF common stock based on a fixed exchange ratio, equivalent to $21.58 per TCF share based on the closing price as of January 25, 2019
  • Sysco Corporation (SYY) enters into definitive agreement to acquire Waugh Foods, Inc., a privately-held food distributor with approximately $40 million in annual sales, for an undisclosed amount

January 25, 2019 Company and Stock News

  • Rand Capital Corporation (RAND) enters into agreement for East Asset Management, LLC to invest $25 million into Rand, consisting of $13.5 million in cash and $11.5 million in portfolio assets
  • MarketWatch reported that Alphabet (GOOG) and CenturyLink (CTL) are considering offers to acquire Zayo Group Holdings (ZAYO)
  • GATX Corporation (GATX) announced that its board of directors authorized the company to repurchase $300 million of its stock

January 24, 2018 Company and Stock News

  • CNBC reported that Apple (AAPL) terminated approximately 200 employees in its Project Titan autonomous vehicle division.
  • Actuant Corporation (ATU) announced that it intends to focus solely on its Industrial Tools & Services segment and pursue a standalone strategy as a pure play industrial tools and services company; in association with that plan, the company stated that it intends to sell its Cortland business and its Engineered Components & Systems division
  • MarketWatch reported that Walmart (WMT) will hire hundreds of truck drivers during 2019 as a result of recent increases in the company’s sales
  • Aurora Cannabis (ACB) closes previously-announced offering of 5.5% convertible senior notes due 2024 for gross proceeds of $345 million to use for supporting its Canadian and international expansion initiatives, future acquisitions and general corporate purposes
  • Lam Research Corporation (LRCX) announced that its board of directors authorized the company to repurchase $5 billion of its stock

January 23, 2019 Company and Stock News

  • Tesla (TSLA) announced that it reduced the production of its Model S and Mode X automobiles due to the fact that the company is no longer accepting orders for entry-level versions of those vehicles
  • The Wall Street Journal reported that Verizon Communications (VZ) is laying off 7% of its staff
  • Amazon.com (AMZN) announced that it will soon begin testing the company’s fully-electric delivery system, Amazon Scout, which is designed to deliver packages via rolling robots approximately the size of a small cooler, to the company’s customers using autonomous delivery devices.

January 22, 2019 Company and Stock News

  • Tilray (TLRY) enters into definitive to acquire all of the issued and outstanding securities of Natura Naturals Holdings Inc. (“Natura”), the parent company of a licensed cultivator of cannabis, for C$15 million in cash and C$20 million in Tilray Class 2 common stock
  • MarketWatch reported that Green Growth Brands Inc. (BBBXF) presented a formal offer to acquire Aphria Inc. (APHA)
  • RealNetworks (RNWK) acquires debt and equity interests in Rhapsody International, which does business as “Napster,” from Rhapsody Applebee, LLC, an entity managed by Columbus Nova Technology Partners, for a $1 million up-front cash payment and up to an additional $39 million over time subject to certain conditions

January 18, 2018 Company and Stock News

  • Tesla, Inc.’s (TSLA) CEO, Elon Musk, wrote in a company blog that Tesla will reduce its full-time workforce by approximately 7%
  • FedEx Corporation (FDX) announced that it’s implementing cost-reduction initiatives in an effort to reduce the company’s operating expenses, including the offering of a voluntary buyout program for eligible employees, international network capacity reductions at FedEx Express, limited hiring in staff functions and reductions in discretionary spending

January 17, 2018 Company and Stock News

  • Fossil Group, Inc. (FOSL) announced that it’s planning to sell intellectual property related to the company’s smartwatch technology to Alphabet Inc’s (GOOG) Google unit for $40 million
  • Spectrum Pharmaceuticals (SPPI) enters into definitive agreement to sell its portfolio of seven FDA-approved hematology/oncology products to Acrotech Biopharma L.L.C. for a $160 million up-front cash payment and up to $140 million in milestone payments

January 16, 2019 Company and Stock News

  • Reuters reported that Sears Holdings Corporation’s (SHLDQ) Chairman, Eddie Lampert, prevailed in a bankruptcy auction for the company with approximately a $5.2 billion offer to acquire substantially all of Sears’ assets
  • Fiserv, Inc. (FISV) and First Data Corporation (FDC) announced that their boards of directors approved a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction
  • Aurora Cannabis (ACB) announced that it’s planning to offer $250 million of convertible notes to support its Canadian and international expansion initiatives, for future acquisitions and for general corporate purposes
  • CSX Corporation announced that its board of directors authorized the company to repurchase $5 billion of its stock

January 7, 2019 Company and Stock News

  • Bloomberg reported that Sears Holdings (SHLDQ) rejected the company’s Chairman’s, Eddie Lampert, offer to purchase several hundred of its stores
  • Nucor Corporation (NUE) announced that it’s planning to build a $1.35 billion state-of-the-art plate mill in the U.S. Midwest and to hire approximately 400 full-time employees to work at the mill
  • Reuters reported that Tesla, Inc. (TSLA) began construction today on a $2 billion gigafactory in Shanghai, China, where the company plans to begin making its Model 3 electric vehicles by the end of 2019

January 4, 2018 Company and Stock News

  • Lowe’s Companies (LOW) announced that it plans to hire more than 65,000 people during 2019, including more than 50,000 seasonal employees and approximately 10,000 permanent employees
  • Bloomberg News reported that Apollo Global Management, LLC (APO) is having discussions with investment bankers to secure debt to acquire all or a portion of General Electric Company’s (GE) jet-leasing business
  • Reuters reported that PG&E Corporation (PGC) is considering filing for bankruptcy due to potential charges related to the 2017-2018 California wildfires

January 3, 2019 Company and Stock News

  • KKR & Co. (KKR) enters into agreement with Altavair AirFinance, a privately-held provider of financing to commercial aviation companies, to pursue the creation of a leading, global portfolio of leased commercial aircraft; KKR agreed to provide $1 billion to acquire commercial aircraft in partnership with Altavair over the next several years
  • Bristol Myers-Squibb Company (BMY) and Celgene Corporation (CELG) enter into definitive merger agreement under which Celgene shareholders will receive 1 Bristol-Myers Squibb share, $50 in cash for each share of Celgene and one tradeable Contingent Value Right (“CVR”) for each share of Celgene
  • Delta Air Lines (DAL) announced that its revenue passenger miles rose by 5.4% during December, as compared to the same month a year ago; separately, the company announced that it expects to report earnings per share in a range of $1.25-$1.30 for the quarter ended December 31, 2018
  • Foot Locker (FL) makes $3 million strategic investment in Super Heroic, Inc., a privately-held provider of entertainment products and services for children

January 2, 2019 Company and Stock News

  • Tesla (TSLA) announced that its deliveries of automobiles rose by less than Wall Street analysts were expecting for the quarter ended December 31, 2018; additionally, the company stated that will reduce the prices of its automobiles by $2,000 as a result of a reduction in the U.S. federal electric vehicle tax credit, which declined to $3,750 from $7,500 as of January 1, 2019
  • Apple (AAPL) reduces its revenue estimate for the three months ended December 29, 2018 to approximately $84 billion, from an earlier estimate of $89-$93 billion, due to the negative impact of certain macroeconomic developments, including an increase in the exchange-value of the U.S. dollar and economic weakness in emerging markets
  • Omega Healthcare (OHI) and MedEquities Realty (MRT) execute definitive merger agreement under which Omega will acquire all of the outstanding shares of MedEquities for 0.235 shares of Omega’s common stock plus $2.00 per share in cash for MedEquities’ outstanding stock
    Sempra Energy (SRE): Sempra Energy announced that it entered into an agreement to sell its U.S. natural gas storage facilities subsidiary to an affiliate of ArcLight Capital Partners for $332 million in cash.

December 31, 2018 Company and Stock News

  • Michael Kors (KORS) completes its acquisition of Gianni Versace S.p.A. and changes name to Capri Holdings Limited
  • Pharmaceuticals (PTLA) announced that the U.S. Food and Drug Administration approved the company’s Andexxa drug, which is used to counteract anticoagulent drugs used for the treatment of strokes and uncontrolled bleeding

December 28, 2018 Company and Stock News

  • Eddie Lampert, the Chairman of Sears Holdings (SHLD), submits $4.4 billion bid to acquire all Sears’ shares that he does not already own
  • Transocean (RIG) signs design and construction management contract, as well as a five-year $830 million drilling contract, with Chevron USA, Inc. for one of its two dynamically positioned ultra-deepwater drillships currently under construction at the Jurong shipyard in Singapore

December 27, 2018 Company and Stock News

  • Boston Scientific (BSX) exercises option to acquire the remaining shares of Millipede, Inc, a privately-held provider of hear-value repair technology
  • Ferroglobe (GSM) says it intends to suspend production operations at the company’s Niagara Falls facility by December 30, 2018

December 26, 2018 Company and Stock News

  • Mindbody (MB) enters into definitive agreement to be acquired by Vista Equity Partners for $36.50 per share, in cash (MB enters into definitive agreement to be acquired by Vista Equity Partners for $36.50 per share, in cash
  • JD.com (JD) announced that its board of directors authorized the company to repurchases up to $1.0 billion of its stock

December 21, 2018 Company and Stock News

  • Amazon.com (AMZN) announced that it’s planning build and operate a 554,000-square-foot fulfillment center in Mississippi and to hire 850 people to work full-time at the facility at a $15 minimum hourly wage
  • Company plc (PRGO) reported that it will file an appeal with the Irish Tax Appeals Commission regarding a Notice of Amended Assessment issued by the Irish Office of the Revenue Commissioners that the Commissioners assessed an Irish corporation tax liability against the company in the amount of €1.64 billion ($1.9 billion)

December 20, 2018 Company and Stock News

  • S&P Global Ratings reduces its credit rating on Altria Group (MO) to BBB, from A-, as a result of the company’s recent announcements that it plans to invest $1.8 billion in Cronos Group Inc. (CRON) and $12.8 in JULL Labs Inc.
  • Autodesk (ADSK) signs definitive agreement to acquire BuildingConnected, a provider of recruiting services for real estate companies and general contractors, for approximately $275 million
  • Blue Apron (APRN) and WW (WTW) form strategic partnership whereby Blue Apron’s culinary team will work with WW’s nutrition and wellness experts to offer a weekly selection of meals via Blue Apron’s digital platform
  • Zynga (ZNGA) enters into agreement to acquire an 80% ownership interest in Helsinki-based mobile game studio Small Giant Games, the creator of Empires & Puzzles, for $560 million
  • Canopy Growth (CGC) says it plans to enter the U.S. hemp market following the passage of the country’s 2018 Farm Bill
  • Greif (GEF) enters into definitive agreement to acquire Caraustar Industries, Inc., a provider of paperboard and packaging products, from an affiliate of H.I.G. Capital in a cash transaction valued at $1.8 billion

December 19, 2018 Company and Stock News

  • The New York Times reported that Facebook (FB) shared its users’ data with more than 150 companies to a far greater extent than the company had previously admitted
  • The New York Times reported that Johnson & Johnson (JNJ) lost its motion to reverse a jury verdict that awarded $4.69 billion to women who blamed their ovarian cancer on asbestos in the company’s baby powder and other talc products
  • The Wall Street Journal reported that Altria Group (MO) is nearing a deal to acquire a 35% interest in JUUL Labs Inc., a privately-held provider of e-cigarettes, for approximately $12.8 billion
  • Health (ALEAF) announced that it will acquire Emblem Corp., a Canada-based cultivator and processor of cannabis and cannabis derivatives, for 0.8377 Aleafia common shares in a transaction valued at approximately C$173.2 million ($128.8 million)
  • Pier 1 Imports (PIR) implementing a more rigorous cost-reduction program and a process to evaluate a range of strategic alternatives to enhance shareholder value
  • Allergan (AGN) suspends sales of textured breast implants and tissue expanders in European markets following a compulsory recall request from France’s medical regulatory authority

December 18, 2018 Company News

  • FedEx (FDX) implementing measures to reduce its operating expenses as a result of the recent economic weakening in Europe
  • SkyWest (SKYW) enters into definitive agreements to sell ExpressJet Airlines, Inc. to ManaAir, LLC for approximately $70 million, in cash
  • Rent-A-Center (RCII) terminates its Agreement and Plan of Merger with affiliates of Vintage Capital Management, LLC
  • Amazon (AMZN) opens new 113,000 square-foot facility in downtown Toronto
  • Civitas Solutions (CIVI) enters into definitive merger agreement to be acquired by funds advised by Centerbridge Partners, L.P. for $17.75 per share, in cash

December 17, 2018 Company and Stock News

  • Amazon (AMZN) announced that it’s planning to build a new one-million-square-foot customer fulfillment facility center in Alberta, Canada and to hire 600 full-time employees to work at the facility
  • Jack in the Box (JBAK) announced that it’s exploring a range of strategic and financing alternatives to maximize shareholder value, including a potential sale of the company
  • Carnival Corporation (CCL) announced that it will launch four new cruise ships during 2019 across three of its leading global brands – Carnival Cruise Line; America’s Cruise Line; Costa Cruises, the largest European cruise operator; and Princess Cruises, the world’s largest international premium cruise line
  • The Financial Times reported that Tata Motors’ (TTM) Jaguar Land Rover unit will announce plans to terminate thousands of its U.K.-based employees during 2019 as part of a £2.5bn corporate restructuring plan
  • Marin Software (MRIN) enters into three-year revenue-sharing agreement with Alphabet’s (GOOG) Google unit to further develop Marin’s enterprise technology platform and software products in Google’s search advertisements
  • Johnson & Johnson (JNJ) announced that its Board of Directors authorized the company to repurchase of up to $5 billion of its common stock
  • The Boeing Company (BA) announced that it replaced its existing share repurchase program with a new $20 billion authorization
  • Universal Health Services (UHS) announced that its Board of Directors authorized a $500 million increase to its stock repurchase program to $1.7 billion

December 14, 2018 Company and Stock News

  • Merck & Co. (MRK) signs definitive agreement to acquire Antelliq, a privately-held provider of digital animal identification, traceability and monitoring, for 2.1 billion euros ($2.4), in cash

December 13, 2018 Company and Stock News

  • Aurora Cannabis (ACB) enters into agreement to invest $10 million in High Tide Inc., a privately-held Alberta-based retailer of cannabis
  • Square (SQ) announced that its appointments platform now integrates with Facebook’s (FB) Instagram and Alphabet’s (GOOG) Google, enabling users of Instagram to book appointments at their businesses and users of Google’s reservation system to make appointments from Google’s search or maps platforms
  • Starbucks (SBUX) announced that during 2019 it expects to expand its retail stores by 6%-7%, to launch a delivery services with Uber Eats to approximately 25% of its stores, to increase its offerings of cold beverages and to expand its delivery service in China
  • One Madison Corporation (OMAD) enters into Stock Purchase Agreement to acquire all of the issued and outstanding equity interests of Rack Holdings, a maker of environmentally-friendly packaging, for $950 million, in cash
  • Ingredion (INGR) invests $140 million to accelerate growth in its offering of plant-based protein food products; additionally, the company entered into a joint partnership with Saskatchewan-based Verdient Foods Inc. to invest in an existing facility to make pulse-based proteins and flours made from peas, lentils and fava beans

December 12, 2018 Company and Stock News

  • Walmart (WMT) and Express Scripts (ESRX): Walmart Inc. and Express Scripts Holding Company announced that they extended their agreement to provide access to Walmart’s prescription services for Express Scripts clients’ covered members. As part of the agreement, Express Scripts’ prescription drugs will be offered to uninsured Americans at a 40% average discounted price.
  • Sparton Corporation (SPA) enters into definitive agreement to be acquired by an affiliate of Cerberus Capital Management, L.P. for $18.50 per share in cash
  • Farfetch Limited (FTCH) signs definitive agreement to acquire Stadium Goods, a privately-held provider of sneakers and a street-wear marketplace, for $250 million in cash and shares of the company’s stock
  • Waitr Holdings (WTRH) signs definitive agreements to acquire Bite Squad, a privately-held online restaurant food delivery service, for approximately $321.3 million in cash and the company’s stock
  • Lowe’s Companies (LOW) announced that its Board of Directors authorized the company to repurchase $10 billion of its stock in addition to $4.5 billion of planned repurchases under a prior authorization; additionally, the company announced that it expects to report adjusted earnings per share in a range of $5.08-$5.13 for the year ending December 31, 2018. In comparison, Wall Street analysts are estimating, on average, for the company to reported $5.12 in adjusted earnings per share

December 11, 2018 Company and Stock News

  • The Brink’s Company (BCO) received antitrust approval of its planned acquisition of Brazil-based Rodoban, a provider of cash-in-transit, money-processing and ATM services to customers in Brazil; enters into accelerated share repurchase agreement with Bank of America Merrill Lynch to repurchase 700, 000 shares of its common stock
  • Dell Technologies obtains shareholder approval for its plan to buy back the tracking stock that’s linked to its stake in VMware Inc. (VMW); expects the transaction to close on December 28 and for Dell Technologies Class C shares to begin trading on the New York Stock Exchange under the ticker symbol DELL on the same day
  • Entera Bio (ENTX) enters into research collaboration and license agreement with Amgen Inc. (AMGN) to develop oral formulations for a preclinical large molecule program and up to two additional programs selected by Amgen

December 10, 2018 Company and Stock News

  • ConocoPhillips (COP) announced that it’s planning to invest $6.1 billion in capital assets and repurchase $3 billion of its stock during 2019
  • Hess Corporation (HES) announced that it’s planning to invest $2.9 billion in capital assets and oil/gas exploration activities, and to drill approximately 170 new wells, during 2019
  • Allscripts Healthcare (MDRX) signs definitive agreement to sell its interests in Netsmart Technologies, Inc. for approximately $525 million
  • Facebook (FB) announced that its Board of Directors authorized the company to repurchase up to $9 billion of its Class A common stock in addition to $15 billion of planned repurchases under a prior authorization
  • Aurora Cannabis (ACB) enters into Letter of Intent to acquire Farmacias Magistrales S.A., a Mexico-based pharmaceutical manufacturer and distributer to approximately 80,000 retail stores and 500 pharmacies / hospitals in Mexico
  • Axsome Therapeutics (AXSM) announced that it experienced positive results from a trial of the company’s treatment for Alzheimer’s disease

December 7, 2018 Company and Stock News

  • Altria (MO) and Cronos Group (CRON) enter into agreement whereby Altria will acquire 146.2 million newly issued shares of Cronos at a price of CAD $16.25 per share, or a total of approximately CAD $2.4 billion
  • Aurora Cannabis (ACB) establishes exclusive partnership with Farmacias Magistrales S.A. to distribute its medical cannabis products in Mexico

December 6, 2018 Company and Stock News

  • Reuters reported that ESL Investments, Inc., a hedge fund owned and operated by Sears Holdings Corporation’s Chairman, Eddie Lampert, made an offer to acquire the company for $4.6 billion
  • Mallinckrodt plc (MNK) says it’s planning to spin off the company’s Specialty Generics/Active Pharmaceutical Ingredients business
  • Prudential Financial (PRU) announced that its Board of Directors authorized the company to repurchase $2 billion of its stock

December 5, 2018 Company and Stock News

  • CVS Health (CVS) introduces new approach to the pricing of its Pharmacy Benefit Management services that the company claims will offer “drug cost predictability and pricing simplicity”
  • Moody’s Investors Services announced that it downgraded GlaxoSmithKline plc’s (GSK) credit rating to negative from stable as a result of the company’s planned acquisition of TESARO, Inc. (TSRO)
  • Hawaiian Holdings (HA) announced that its revenue passenger miles rose by 2.8% during November, as compared to the same month a year ago; looking forward, the company stated that it expects its revenue per available seat mile to decline by 3%-5% for the quarter ending December 31, 2018

December 4, 2018 Company and Stock News

  • Level Brands (LEVB) signs definitive merger agreement to acquire Cure Based Development, LLC, a privately-owned operator and manufacturer of a nationally recognized consumer cannabidiol brand, for 15.525 million shares of Level Brand’s common stock and up to an additional $15.525 million upon the achievement of certain net revenue targets
  • Revance Therapeutics (RVNC) enters into license agreement with China-based Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd. to provide Fosun exclusive rights to develop and commercialize Revance’s botulinum toxin formulation in mainland China, Hong Kong and Macau

December 3, 2018 Company and Stock News

  • New Age Beverages (NBEV) signs definitive agreement to acquire Morinda Holdings, Inc., a privately-held beverage company with operations in more than 60 countries, for $75 million in cash and $10 million in New Age restricted stock
  • GlaxoSmithKline (GSK) and TESARO (TSRO) enter into definitive agreement pursuant to which Glaxo will acquire TESARO for approximately $5.1 billion (£4.0 billion), in cash
  • Nexstar Media (NXST) and Tribune Media (TRCO) enter into definitive merger agreement whereby Nexstar will acquire all of the outstanding shares of Tribune Media for $46.50 per share in cash, or a total of $6.4 billion
  • Crocs (CROX) enters into agreement with Blackstone Capital Partners VI L.P. to repurchase half of its outstanding Series A Convertible Preferred Stock owned by Blackstone, for $26.64 per share, or a total of $183.7 million
  • FMC Corporation (FMC) announced that its Board of Directors authorized the company to repurchase $1 billion of its stock in addition to $200 million of planned repurchases that remain under a prior authorization

November 30, 2018 Company and Stock News

  • Electrek.co reported that Tesla (TSLA) has achieved its goal of producing 1,000 Model 3 vehicles in a day, which would result in 7,000 units per week
  • Callaway Golf (ELY) enters into agreement to acquire Jack Wolfskin, one of the leading providers of functional outdoor clothing, footwear and equipment in Europe, for approximately $476 million
  • SL Green Realty (SLG) announced that its Board of Directors authorized the company to increase the size of its share repurchase program to $2.5 million, from $2.0 million
  • Fate Therapeutics (FATE) announced that the U.S. Food and Drug Administration approved the company’s Investigational New Drug Application for its natural killer cell cancer immunotherapy for advanced tumors

November 29, 2018 Company and Stock News

  • QUALCOMM (QCOM) launches venture-capital investment fund to invest up to $100 million in start-up companies that focus on the development of artificial intelligence applications

November 28, 2018 Company and Stock News

  • Reuters reported that Sears Holdings Corporation’s (SHLDQ) CEO, Eddie Lampert, is in discussions with Cyrus Capital Partners LP to potentially take the company private
  • Humana (HUM) announced that it will repurchase $750 million of its common stock through an accelerated stock repurchase agreement with Goldman Sachs & Co. LLC; separately, the company announced that it increased its net membership growth estimate for its individual Medicare Advantage products for the year ending December 31, 2019 to 350,000 to 400,000 members, from its initial estimate of 250,000 to 300,000 members

November 27, 2018 Company and Stock News

  • Aurora Cannabis (ACB) announced that it completed its first shipment of medical cannabis products to the Czech Republic, making the Republic the 21st country in which it company operates
  • Alliance Data Systems (ADS) announced that it’s exploring strategic alternatives for its Epsilon business, including a potential sale of the business

November 26, 2018 Company and Stock News

  • General Motors (GM) announced that it will close at least five of its manufacturing facilities, reduce the size of its workforce by 15%, increase the sharing of components for its automobiles and expand the usage of virtual tools in an effort to reduce its operating expenses and increase its profits
  • United Technologies (UTX) announced that it completed its acquisition of Rockwell Collins and that it intends to separate into three companies
  • CenterState Bank (CSFL) and National Commerce Corp. (NCOM) sign definitive agreement pursuant to which National Commerce will merge with and into CenterState in an all-stock transaction
  • Paychex (PAYX) enters into agreement to acquire Oasis Outsourcing Acquisition Corporation, a privately-owned human resources outsourcing services, for $1.2 billion
  • GW Pharmaceuticals (GWPH) announced that it experienced positive results from a Phase 3 trial of its cannabis-based Epidiolex treatment for a severe form of childhood epilepsy
  • Cleveland-Cliffs (CLF) announced that its Board of Directors authorized the company to repurchase $200 million of its stock

November 23, 2018 Company and Stock News

  • The Wall Street Journal reported that Apple Inc. (AAPL) is planning to help its wireless carrier partners in Japan subsidize the costs of reducing the price of the company’s iPhone XR in an effort to increase sales of the device
  • Reuters reported that Tesla Inc. (TSLA) is reducing the price of its Model X and Model S cars in China by 12%-26%% in an effort to increase sales as a result of the tariffs that China has placed on imports from the United States
  • Reuters reported that Logitech International S.A. (LOGI) is in discussions to acquire Plantronics, Inc. (PLT) for $2.2 billion

November 21, 2018 Company and Stock News

  • Albermarle Corporation (ALB) signs Exclusivity Agreement with Mineral Resources Limited, an Australian-based mining services and processing company, to potentially create a 50/50 joint venture to own and operate an Australian lithium mine and to develop an integrated lithium hydroxide operation
  • GameStop (GME) enters into definitive agreement to sell its Spring Mobile business, which owns and operates 1,289 AT&T wireless stores, to Prime Communications, L.P. for $700 million
  • Aleafia Health (ALEAF) reported that Serruya Private Equity invested $10 million in the company by purchasing 5 million shares of Aleafia’s common stock at a price of $2 per share
  • Taylor Morrison (TMHC) announced that its Board of Directors authorized the company to repurchase $100 million of its common stock in addition to $13 million of planned repurchases that remain under a prior authorization
  • Silicon Motion Technology (SIMO) announced that its Board of Directors authorized the company to repurchase up to $200 of its stock

November 20, 2018 Company and Stock News

  • FedEx (FDX) that it’s adding 1,000 Chanje V8100 electric delivery vehicles to its fleet of delivery trucks in the United States
  • Office Depot (ODP) enters into an amendment to its term loan that reduced the applicable interest rate margin on the loan by 175 basis points to LIBOR plus 525 basis points effective November 21, 2018; separately, the company announced that its Board of Directors authorized the company to repurchase $100 million of its stock in addition to $41 million of planned repurchases that remain under a prior authorization
  • Cheddar.com reported that Snap Inc. (SNAP) is planning to release a new version of its Spectacles glasses with two cameras at a price of $350 by the end of 2018
  • CNBC reported that Amazon.com. (AMZN) is bidding for all of the 22 regional sports TV networks that The Walt Disney Company (DIS) acquired from Twenty-First Century Fox (FOXA)
  • Visa (V): S&P Global Ratings announced that it upgraded Visa’s (V) long-term rating to AA-minus from A-plus

November 19, 2018 Company and Stock News

  • CNBC reported that Tesla (TSLA) is working with Cox Enterprises-owned Manheim and Kar Auction Services to sell a higher number of its previously-owned vehicles
  • Apple (AAPL): The Wall Street Journal reported that Apple (AAPL) slashed production orders for its latest iPhone XS, iPhone XS Max, and iPhone XR models due to “lower-than-expected demand”
  • Nuance Communications (NUAN) announced that it intends to spin off its Automotive business segment into a new, independent, publicly traded company
  • Cimarex Energy (XEC) and Resolute Energy (REN) enter into definitive agreement for Cimarex to acquire Resolute in a cash and stock transaction valued at $35.00 per share, or a total purchase price of approximately $1.6 billion
  • Colfax Corporation (CFX) enters into definitive agreement to acquire DJO Global Inc., a global provider of medical technologies, from private equity funds managed by Blackstone, for $3.15 billion in cash
  • Myriad Genetics (MYGN) enters into accelerated share repurchase agreement with Bank of America to repurchase approximately $50 million of its common stock

November 16, 2018 Company and Stock News

  • Seattle Genetics (SGEN) announced that the U.S. Food and Drug Administration approved the company’s treatment for patients with large cell lymphoma
  • The Wall Street Journal reported that Pfizer (PFE) will raise prices on 41 of its prescription drugs during January 2019

November 15, 2018 Company and Stock Holdings

  • electrek.com reported that Tesla (TSLA) is striving to produce 7,000 of its Model 3 sedans per month by November 28; separately, Reuters reported that the company is reducing prices on its residential solar-power systems by as much as 25% in an effort to increase sales
  • Ashland Global Holdings (ASH) signs definitive agreement to sell its Composites business and its butanediol manufacturing facility in Marl, Germany, to INEOS Enterprises for approximately $1.1 billion
  • Energizer Holdings (ENR) and Spectrum Brands (SPB) enter into definitive agreement for Energizer to acquire Spectrum’s Global Auto Care business for $1.25 billion consisting of $937.5 million of cash and $312.5 million of Energizer’s stock
  • Intel (INTC) announced that its Board of Directors authorized the company to repurchase an additional $15 billion of its stock

November 14, 2018 Company and Stock News

  • Ford (F) and Walmart (WMT) form strategic partnership to explore ways in which self-driving vehicles can deliver products to shoppers
  • Planet Fitness (PLNT) enters into accelerated share repurchase agreement with Citibank to repurchase approximately 4.6 million shares of its common stock
  • Owens-Illinois (OI) announced that its Board of Directors authorized the company to repurchase $313 million of its stock in addition to approximately $287 million of planned repurchases that remain under a prior authorization
  • Performance Food Company (PFGC) announced that its Board of Directors authorized the company to repurchase up to $250 million of its stock

November 13, 2018 Company and Stock News

  • Johnson Controls (JCI) and Brookfield Business Partners (BBU) reach agreement for Brookfield to acquire Johnson Controls’ Power Solutions business for approximately $13.2 billion
  • Starbucks (SBUX) announced that it’s laying off approximately 350 corporate employees in an effort to increase the company’s profits
  • O’Reilly Automotive (ORLY) announced that its Board of Directors authorized the company to repurchase up $11.75 billion of its stock, including $10.75 billion of planned repurchases that remain under a prior authorization; additionally, the company announced that it entered into a definitive agreement to purchase substantially all of the auto parts related assets of Bennett Auto Supply, Inc., headquartered in Pompano Beach, Florida
  • Baxter International (BAX) announced that its Board of Directors authorized the company to repurchase $2 billion of its stock in addition $1.4 billion of planned repurchases that remain under a prior authorization
  • 3M Company (MMM) announced that its Board of Directors authorized the company to repurchase up to $10 billion of its stock

November 12, 2018 Company and Stock News

  • athenahealth (ATHN) enters into agreement for the company to be acquired by May Holding Corp. for $135 per share
  • Eastman Kodak (KODK) enters into definitive agreement to sell its Flexographic Packaging Division to Montagu Private Equity LLP for up to $390 billion
  • Kellogg (K) announced that it is considering selling its cookies and fruit snacks businesses in an effort “to enable the company to bring a sharper focus to its core businesses”
  • Apptio (APTI) enters into definitive agreement to be acquired by an affiliate of Vista Equity Partners for $38 per share of the company’s stock
  • eBay (EBAY) forms strategic partnerships with Handy, Porch and InstallerNet, to provide in-home installation services for various types of home products and electronic goods
  • Viacom (VIAB) announced that its MTV subsidiary acquired SnowGlobe Music Festival, an outdoor New Year’s Eve festival featuring musical performances, interactive art exhibitions and live action sports

November 9, 2018 Company and Stock News

  • II-VI Incorporated (IIVI) and Finisar Corporation (FNSR) enter into definitive merger agreement under which II-VI will acquire Finisar for $15.60 per share in cash and 0.2218 shares of II-VI common stock
  • Meredith Corporation (MDP) signs agreement to sell its FORTUNE media brand to Fortune Media Group Holdings Limited for $150 million

November 8, 2018 Company and Stock News

  • Starbucks (SBUX) says it plans to build 100 new stores annually in Japan over the next three years.
  • Reuters reported that Plantronics (PLT) is considering a potential sale of the company.
  • Johnson Controls (JCI) announced that its Board of Directors authorized the company to repurchase $1 billion of its stock in addition to $900 million of planned repurchases that remain under a previous authorization

November 7, 2018 Company and Stock News

  • Amazon (AMZN) launches its Amazon Music streaming service in Mexico; separately, the company announced that its Alexa voice-recognition software, which can now speak and understand Spanish tailored for Mexico, is now available with the company’s Echo speakers in Mexico
  • Investment Technology Group (IGT) reaches definitive agreement for Virtu Financial (VIRT) to acquire all outstanding shares of ITG’s common stock for $30.30 per share in cash
  • GNC Holdings (GNC) reaches agreement with China-based Harbin Pharmaceutical Group Co., Ltd. for Harbin to invest $300 million in GNC
  • Newell Brands (NWL) signs definitive agreements to sell its Pure Fishing business to Sycamore Partner for approximately $1.3 billion and to sell its Jostens business to Platinum Equity, LLC for a separate $1.3 billion

November 6, 2018 Company and Stock News

  • General Electric (GE) signs agreement to sell its LED lighting and energy management division to private-equity firm American Industrial Partners
  • Bojangles’ (BOJA) enters into definitive agreement to be acquired by Durational Capital Management LP and The Jordan Company, L.P. for $16.10 per share of the company’s stock
  • ConvergeOne Holdings (CVON) enters into definitive agreement to be acquired by affiliates of CVC Fund VII in an all-cash transaction valued at $12.50 per share of the company’s common stock
  • CommScope Holding (COMM) agrees to acquire Arris International plc (ARRS) for $31.75 per share
  • Reuters reported that private equity firm Thoma Bravo, LLC expressed an interest in acquiring Symantec Corporation (SYMC)

November 5, 2018 Company and Stock News

  • Sears Holdings (SHLDQ) announced that it sought court approval to sell its Sears Home Improvement business to Service.com, LLC
  • Lowe’s Companies (LOW) announced that it will close 20 of its U.S. stores and 31 of its Canadian stores in an effort to improve the company’s profitability
  • Verizon (V) announced that it’s changing its operating structure to focus on three customer-facing areas: Consumer, Business and Verizon Media Group / Oath
  • Spotify (SPOT) announced that it will commence a stock repurchase program by the end of 2018 to repurchase up to 10,000,000 or $1 billion of its ordinary shares

November 2, 2018 Company and Stock News

  • Kroger (KR) announced that it will offer Geoffrey’s Toy Box brands, which were previously exclusive to Toys ‘R” Us stores, in approximately 600 if its Kroger stores during the 2018 winter holiday shopping season
  • Fitch Ratings announced that it downgraded General Electric Company’s (GE) long-term issuer default rating two notches, to BBB+ from A, as a result of a deterioration in the company’s GE Power division

November 1, 2018 Company and Stock News

  • Encana Corporation (ECA) and Newfield Exploration (NFX) enter into definitive agreement for Encana to acquire all of the outstanding shares of common stock of Newfield; under the terms of the agreement, Newfield shareholders will receive 2.6719 Encana common shares for each share of Newfield common stock
  • Illumina (ILMN) and Pacific Biosciences (PACB) sign agreement for Illumina to acquire Pacific Biosciences for $8.00 per share of Pacific Bioscience’s stock
  • Canopy Growth (CGC) says it received a $4 billion investment in the company from Constellation Brands, Inc.
  • Whirlpool (WHR) announced that its brand of kitchen and laundry appliances will be used by Walt Disney World Resort in Lake Buena Vista, Florida and at Disneyland Resort in Anaheim, California; additionally, the company stated that its cooking appliances will be used for cooking demonstrations at Disney’s Epcot International Food & Wine Festival and at the company’s California Adventure Food & Wine Festival at Disneyland Resort
  • Sears Holdings (SHLDQ) signs several licensing agreements for the manufacture and sell of its Kenmore and DieHard brands
  • DowDuPont (DWDP) announced that it plans to repurchase $3 billion of its stock
  • MetLife (MET) announced that board of directors approved the company to repurchase $2 billion of its stock

October 31, 2018 Company and Stock News

  • Moody’s Investors Service downgrades General Electric Company’s (GE) long-term credit ratings to Baa1, from A2, due to an adverse impact on the company’s cash flows as a result of a deterioration in the performance of its Power business
  • LSC Communications (LKSD) and Quad/Graphics (QUAD) announced that their boards of directors approved a definitive agreement for Quad/Graphics to acquire LSC Communications in an all-stock transaction valued at approximately $1.4 billion
  • Bilibili (BILI) and Japan-based GREE, Inc. (GREZF) form joint venture to develop mobile games to market in Japan and China

October 29, 2018 Company and Stock News

  • International Business Machines (IBM) and Red Hat (RH) reach definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash
  • The E.W. Scripps Company (SSP) announced that it’s acquiring 15 television stations in 10 markets from Cordillera Communications for $521 million
  • Northrop Grumman (NOC) enters into accelerated share repurchase agreement with Goldman Sachs & Co. LLC to repurchase $1 billion of Northrop Grumman’s common stock
  • Esperion Therapeutics (ESPR) announced that it experienced positive results from a Phase 3 trial of its therapy for high cholesterol
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