Company & Stock News

* Click on the Dates below for News Details *

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

October 26, 2018 Company and Stock News

  • CNBC reported that Mellanox Technologies (MLNX) hired a financial adviser to explore a sale of the company
  • Shopify (SHOP) say it’s adding Venmo, a mobile digital wallet that enables users a social way to make a purchase, split payments or pay friends, as a checkout option for Shopify Merchants using PayPal Checkout

October 25, 2018 Company and Stock News

  • Merck & Co. (MRK) announced that its Board of Directors authorized the company to repurchase an additional $10 billion of its stock
  • American Airlines (AAL): American Airlines Group announced that it expects its diluted earnings per share, excluding non-recurring items, to be considerably higher than Wall Street analysts are estimating for the quarter ending December 31, 2018

October 24, 2018 Company and Stock News

  • Consumer Reports reported that its overall score for Tesla, Inc.’s (TSLA) Model S sedan fell below average, while its score for the company’s Model 3 sedan was “average” and its score for the company’s Model X SUV remained much worse than average
  • Reuters reported that Snap, Inc. (SNAP) hired Amazon.com Inc.’s head of advertising and HuffPost’s CEO as its chief strategy officer

October 23, 2018 Company and Stock News

  • Citron Research announced that it reversed its investment opinion on Tesla, Inc. (TSLA), and that it’s now long the company’s stock
  • Walmart (WMT) announced that beginning during November it will make all of its products priced higher than $35 available for free two-day shipping
  • Helios & Matheson (HMNY): Helios & Matheson Analytics Inc. announced that it plans to spin-off its 92% ownership interest in MoviePass Inc.

October 22, 2018 Company and Stock News

  • Netflix (NFLX) announced that it intends to offer raise approximately $2.0 billion through the issuance of senior unsecured notes to use for general corporate purposes
  • American Railcar Industries (ARII) enters into definitive agreement to merge with a wholly-owned subsidiary of ITE Rail Fund L.P. at a price of $70.00 per share

October 19, 2018 Company and Stock News

  • Reuters reported that the U.S. Securities and Exchange Commission opened an investigation into Honeywell International’s (HON) accounting for asbestos-related liabilities; separately, Honeywell reported that it revised lower its 2017 reported earnings per share by 14 cents as a result of changes that the company made regarding accruals of its asbestos-related liabilities
  • Clovis Oncology (CLVS) announced that it experienced positive results from a Phase 2 trial of its treatment for prostate cancer

October 18, 2018 Company and Stock News

  • DowDuPont (DWDP) reported that it will record a non-cash asset impairment charge of $4.6 billion for the quarter ended September 30, 2018 related to the company’s agriculture division
  • Live Nation (LYV) acquires UPGRADED, a privately-held provider of blockchain technology that services the live events industry; Live Nation stated that it will use UPGRADED’s technology to convert traditional event tickets to secure interactive digital tickets
  • Walmart’s (WMT) Sam’s Club says will expand its grocery delivery service to more than 100 more of the company’s stores in 90 new markets by the end of October
  • Starbucks (SBUX) says it plans to open its third U.S. Princi bakery in New York City on October 25
  • Micron Technology (MU) says it intends to acquire Intel Corporation’s (INTC) 2% interests in a joint venture involving the development of flash memory products for $1.5 billion
  • Endocyte (ECYT) enters into merger agreement with Novartis AG (NVS) pursuant to which Novartis will acquire Endocyte for $24 per share, in cash

October 17, 2018 Company and Stock News

  • Tesla (TSLA) reported that the U.S. District Court for the Southern District of New York entered a final judgment approving the terms of a settlement filed with the Court on September 29, 2018 in connection with the action taken by the U.S. Securities and Exchange Commission relating to Elon Musk’s misleading tweets about supposedly planning to take the company private; as part of the settlement, there will be no restriction on Musk’s ability to continue to serve as Tesla’s CEO
  • Allergan (AGN) announced that it will submit a New Drug Application to the U.S. Food and Drug Administration by the first quarter of 2019 for the company’s acute migraine drug, ubrogepant
  • The New York Times Company (NYT) forms strategic partnership with Scribd, a privately-held provider of online books, audiobooks, newspapers and magazines, to bundle Scribd’s subscription service with The New York Times’ online newspaper for $12.99 per month
  • Caesars Entertainment (CZR): Reuters reported that Tilman Fertitta, the billionaire owner of the Golden Nugget Casinos, approached Caesars Entertainment Corporation (CZR) about a potential merger with Golden Nugget

October 16, 2018 Company and Stock News

  • Roku (ROKU) says it will resume sales of its Roku devices in Mexico within the next few weeks following a favorable ruling from Mexico’s 11th Circuit Court regarding the company’ legal battle against a prior ban on sales of its streaming players
  • Kroger (KR) launches wine delivery through a partnership with Drinks, a privately-held online provider of wines
  • Marvell Technology (MRVL) announced that its Board of Directors authorized the company to repurchase $700 million of its stock in addition to approximately $307 million of repurchases that remain under a prior authorization

October 15, 2018 Company and Stock News

  • Sears Holdings (SHLD) files voluntary petitions for debt relief under Chapter 11 of the U.S. Bankruptcy Code
  • Canopy Growth Corporation (CGC) enters into agreement to acquire the assets of ebbu, Inc., a privately-held provider of hemp research, for approximately $19.3 million in cash and 6.2 million shares of Canopy’s stock
  • SendGrid, Inc. (SEND) and Inc. Twilio (TWLO) enter into definitive agreement for Twilio to acquire SendGrid in an all-stock transaction valued at approximately $2 billion

October 12, 2018 Company and Stock News

  • Bloomberg News reported that Sears Holdings (SHLD) is holding discussions with its lenders to potentially file for a Chapter 11 restructuring of the company’s debt
  • Walmart (WMT) acquires Bare Necessities, a privately-held online retailer of lingerie, swimwear, and loungewear
  • Starbucks (SBUX) enters into accelerated $5 billion share repurchase program with two financial institutions as part of the company’s previously-announced plan to return $25 billion to shareholders in the form of share buybacks and dividends over the next two years

October 11, 2018 Company and Stock News

  • Walmart (WMT) forms strategic joint venture with Eko, a developer of interactive video technology, to develop original, interactive content that will enable Walmart to connect with customers in new and more meaningful ways
  • Compugen Ltd. (CGEN) and Bristol-Myers Squibb (BMY) enter into clinical trial collaboration to evaluate the safety and tolerability of Compugen’s anti-PVRIG antibody in combination with Bristol-Myers’s immune checkpoint inhibitor Opdivo in patients with advanced solid cancer tumors
  • MedMen Enterprises (MMNFF) signs binding letter of intent to acquire PharmaCann, a privately-held provider of cannabis, in an all-stock transaction valued at $682 million
  • RH (RH) announced that its Board of Directors authorized the company to repurchases up to $700 million of its common stock

October 10, 2018 Company and Stock News

  • DSW Inc. (DSW) enters into definitive agreement to acquire the global product, sourcing and design infrastructure operations of the Camuto Group, a privately-held designer of shoes known for its Vince Camuto, Jessica Simpson and Lucky branded shoes for approximately $200 million
  • The GlobeandMail.com reported that Altria Group (MO) is holding discussions with Canada-based cannabis producer Aphria Inc. (APHQF) to potentially acquire an equity interest in the company
  • Tilray (TLRY) announced that it closed an offering of 5.00% Convertible Senior Notes due 2023 for gross proceeds of $450 million in a private placement to qualified institutional buyers
  • Snap Inc. (SNAP) launches Snap Originals, its first formal slate of scripted shows and docuseries, which will be available to the company’s Snapchat users
  • TransDigm Group (TDG) and Esterline Technologies (ESL) enter into definitive agreement under which TransDigm will acquire Esterline for $122.50 per share in cash
  • Imperva (IMPV) enters into definitive agreement to be acquired by private equity firm Thoma Bravo LLC for $55.75 per share in cash
  • Ionis Pharmaceuticals (IONS) enters into collaboration agreement with Roche Holding AG to develop Ionis’s treatment of complement-mediated diseases
  • CVS Health (CVS) enters into agreement with the U.S. Department of Justice that allows the company to proceed with its proposed acquisition of Aetna Inc. (AET)

October 9, 2018 Company and Stock News

  • Microsoft (MSFT) forms strategic partnership with, Grab, the leading on-demand transportation, mobile payments and online-to-offline services platform in Southeast Asia, to capitalize on the delivery of digital and mobile services in the region
  • The Wall Street Journal reported that Trian Fund Management is considering making an offer to acquire Papa John’s International (PZZA)
  • American Airlines (AAL) estimates that its revenue per available seat miles rose by 2%-3% for the quarter ended September 30, 2018 instead of by the 1%-2% that it had estimated previously
  • Bloomberg News reported that Zynga (ZNGA) has received potential acquisition offers from other developers of mobile games
  • Trian Fund Management reported that it purchased 2.59 million shares of PPG Industries (PPG)
  • Cummins (CMI) announced that its Board of Directors authorized the company to repurchase up to $2 billion of its common stock upon the completion of its current share repurchase program

October 8, 2018 Company and Stock News

  • Apollo Global Management (APO) and General Electric (GE) enter into definitive agreement for Apollo’s private-equity funds to acquire $1 billion of General Electric’s investments in energy assets
  • Netflix (NFLX) chooses Albuquerque, New Mexico as the site of a new U.S. production hub
  • Ensco plc (ESV) and Rowan Companies plc (RDC) enter into merger agreement under which Rowan shareholders will receive 2.215 Ensco shares for each Rowan share; the companies stated that they expect the combined company to realize annual pre-tax expense synergies of approximately $150 million
  • Lannett Company (LCI) hires advisers to explore the company’s debt and capital structure options

October 5, 2018 Company and Stock News

  • Southwest Airlines (LUV) announced that its revenue passenger miles rose by 5.3% during September, as compared to the same month a year ago
  • Lannett Company (LCI) reported that it expects to record a goodwill impairment charge of approximately $339.6 million, which would result in a full impairment of the company’s goodwill

October 4, 2018 Company and Stock News

  • LendingTree (TREE) enters into definitive agreement to acquire QuoteWizard.com, LLC, a privately-held provider of online insurance quote comparison services, for $300 million in cash and up to an additional $70.2 million in contingent payments
  • Eli Lilly and Company (LLY) announced that it experienced positive results from a Phase 3 study of its treatment for diabetes
  • Arrowhead Pharmaceutics (ARWR) enters into a $3.7 billion research and licensing agreement with Belgium-based Janssen Pharmaceuticals Inc. to develop and commercialize its treatment for chronic hepatitis B

October 3, 2018 Company and Stock News

  • Barnes & Noble (BKS) announced that its Board of Directors entered into a formal review process to evaluate strategic alternatives in response to interests expressed from several persons to acquire the company
  • Cloudera (CLDR) and Hortonworks (HDP) enter into definitive merger agreement under which Hortonworks’ stockholders will receive 1.305 common shares of Cloudera for each share of Hortonworks stock
  • Canopy Growth Corporation (CGC) partners with the Ontario Long Term Care Association to conduct a six-month study for the potential development and implementation of medical cannabis for the treatment of pain and cognitive function in seniors
  • Ingersoll-Rand (IR) announced that its Board of Directors authorized the company to repurchase up to $1.5 billion of its ordinary shares upon the completion of the company’s current $1.5 billion repurchase program

October 2, 2018 Company and Stock News

  • Amazon.com (AMZN) says it’s increasing its minimum wage to $15
  • Ford Motor Company’s (F) U.S. auto sales decline by 11.2% during September
  • Walmart (WMT) says it plans to acquire ELOQUII, a privately-held retailer that specializes in plus-size women’s apparel
  • S&P Global Ratings reduces its credit rating on General Electric Company (GE) to BBB+, from A

October 1, 2018 Company and Stock News

  • General Electric (GE) replaces Chairman and CEO, John Flannery, with H. Lawrence Culp, Jr., and appoints Thomas W. Horton as the Lead Director of its Board of Directors; separately, the company stated that it expects to record a non-cash goodwill impairment charge of approximately $23 billion for the year ending December 31, 2018 due to a weakening in its GE Power business, and that its full-year 2018 earnings will fall short of its prior expectations as a result of that charge
  • SeaWorld Entertainment (SEAS) estimates that its revenues rose by approximately 9% the quarter ended September 30, 2018, as compared to the same period a year ago, as a result of a 10% increase in attendance at the company’s theme parks

September 28, 2018 Company and Stock News

  • Electrec reported that Tesla (TSLA) reached its goal to produce at least 50,000 of its Model 3 sedans for the quarter ending September 30, 2018
  • Eli Lilly (LLY) announced that the U.S. Food and Drug Administration approved the company’s Emgality treatment for the prevention of migraines in adults
  • Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) announced that the U.S. Food and Drug Administration approved their Libtayo drug for the treatment of a common type of metastatic skin cancers that previously had no treatment

September 27, 2018 Company and Stock News

  • The U.S. Securities and Exchange Commission charges Tesla, Inc.’s (TSLA) Chairman and CEO, Elon Musk, with securities fraud for a series of false and misleading tweets about a potential transaction to take the company private; additionally, the SEC stated that it seeks to prohibit Musk from serving as an officer or director of a public company
  • Amazon (AMZN) announced that it’s opening an Amazon 4-Star store in New York City’s Soho neighborhood, where everything for sale will be rated four stars or higher
  • Keurig Dr. Pepper (KDP) enters into definitive agreement to acquire CORE Nutrition LLC, a privately-held producer of nutrient-enhanced bottled water, for approximately $525 million
  • CNBC reported that athenahealth (ATHN) has received multiple acquisition offers.
  • Volvo AB (VLVLY) announced that will introduce all-electric trucks in California during the coming year and commercialize them in North America during 2020
  • Lockheed Martin (LMT) announced that its board of directors authorized the company to repurchase $1 billion of its common stock in addition to $2.7 billion of repurchases that remain under a prior authorization

September 26, 2018 Company and Stock News

  • 21st Century Fox (FOXA) announced that it intends to either accept the recommended revised cash offer by Comcast Corporation (CMCSA) for the entire issued and to be issued share capital of Sky plc at a price of £17.28 ($20.18) for each Sky share or to sell its existing interest in Comcast for £14.8 ($15.3) per share
  • CNBC reported that Papa John’s International’s (PZZA) founder, John Schnatter, contacted several private-equity firms during recent weeks to discuss a bid to buy all outstanding shares of the company that he doesn’t already own

September 25, 2018 Company and Stock News

  • Michael Kors (KORS) enters into definitive agreement to acquire all of the outstanding shares of Italian luxury fashion company Gianni Versace S.p.A. for a total enterprise value of approximately $2.12 billion
  • Aleafia Health (ALEAF) enters into letter of intent to acquire a 51% interest in One Plant™, an adult-use cannabis retail operation led by members of the Serruya family, including Aaron Serruya, the president of International Franchise Inc., which has over 4,500 quick-service restaurant franchise locations in more than 50 countries
  • Fiserv (FISV) agrees to acquire the debit card processing, ATM Managed Services and MoneyPass surcharge free network of Elan Financial Services, a unit of U.S. Bancorp (USB) for approximately $170 million
  • XO Group (XOXO) signs definitive agreement to become a privately-held company via a merger with WeddingWire, Inc., a privately-held online operator of online marketplaces for the wedding industry in 14 countries, in a deal valued at $933 million
  • Sonic Corp. (SONC) and Inspire Brands, a privately-held restaurant company with more than 4,700 Arby’s, Buffalo Wild Wings, and Rusty Taco locations worldwide, enter into definitive merger agreement under which Inspire will acquire Sonic for $43.50 per share in cash

September 24, 2018 Company and Stock News

  • Sky plc recommends for its shareholders to accept a “superior cash offer” from Comcast Corporation (CMCSA) to acquire the company for £17.28($22.59) per share
  • Digital Realty Trust (DLR) enters into definitive agreement to acquire Ascenty, a data center provider in Brazil, for approximately $1.8 billion; separately, Digital Realty reaches agreement to acquire 424 acres of undeveloped land in Loudoun County, Virginia, adjacent to Washington Dulles International Airport, for $236.5 million, and the company commences an underwritten registered public offering of 8,500,000 shares of its common stock
  • Pandora Media (P) and SiriusXM Holdings (SIRI) enter into definitive agreement for SiriusXM to acquire Pandora in an all-stock transaction valued at approximately $3.5 billion
  • Amarin Corporation (AMRN) announced that it experienced positive results from a trial of its Vascepa cholesterol treatment for adults with elevated cardiovascular risks

September 21, 2018 Company and Stock News

  • Avon Products (AVP) announces new growth strategy, including investing up to $300 million in digital and IT infrastructure, and reducing its operating expenses by $400 million within the next three years

September 20, 2018 Company and Stock News

  • Bloomberg News reported Tesla’s (TSLA) Vice President of Global Supply Management resigned, which is the fifth high-ranking member of the company’s management team to resign from the company over the past few months
  • Adobe Systems (ADBE) enters into definitive agreement to acquire Marketo, a privately-held provider of cloud-based business-to-business applications, for $4.75 billion
  • Cronos Group (CRON) commences joint medical cannabis study with Aleafia Health Inc. to improve the management and treatment of insomnia and daytime sleepiness
  • Consolidated Edison (ED) and Sempra Energy (SRE) enter into agreement for Consolidated Edison to acquire Sempra’s U.S. non-utility operating solar assets, solar and battery storage development projects, and a wind facility for $1.54 billion in cash
  • Medtronic (MDT) and Mazor Robotics (MZOR) enter into definitive merger agreement under which Medtronic will acquire all Mazor’s ordinary shares for $58.50 per American Depository Share, or $29.25 per ordinary share, in cash

September 19, 2018 Company and Stock News

  • Command Security (MOC): Command Security Corporation (MOC) signs definitive agreement to be acquired by Prosegur Compañía de Seguridad, S.A. for $2.85 per share
  • Molecular Templates (MTEM) enters into agreement with Japan’s Takeda Pharmaceutical Company Limited to develop drugs for the treatment of patients with multiple myeloma, a cancer of blood cells

September 18, 2018 Company and Stock News

  • Macy’s (M) says it’s implementing advanced technology to enhance its customers’ shopping experience and to make shopping at Macy’s more convenient and efficient, including virtual- reality and augmented-reality furniture and beauty features; the company added that it’s partnering with Facebook to market approximately 150 e-commerce brands during the winter 2018 holiday season
  • The United States Department of Justice clears pending merger of Cigna (CI) and Express Scripts (ESRX)
  • Thor Industries (THO) enters into definitive agreement to acquire Erwin Hymer Group SE, a privately-held European manufacturer of recreational vehicles, for approximately €2.1 billion ($3.6)
  • Viking Therapeutics (VKTX) announced that it experienced positive results from a Phase 2 trial of the company’s treatment for non-alcoholic fatty liver disease.

September 17, 2018 Company and Stock News

  • Canopy Growth Corporation (CGC) says Tweed Farms Inc. medical marijuana production site has received license amendments approving all of the company’s greenhouse space, bringing its total licensed space to approximately 3.2 million square feet

September 14, 2018 Company and Stock News

  • Silver Lake Partners invests $600 million into AMC Entertainment Holdings
  • Allergan (AGN) to acquire Bonti, Inc., a privately held biotechnology company, for an upfront payment of $195 million and additional potential milestone payments
  • L Brands (LB) says it plans to close all of its 23 Henri Bendel stores, as well as its Henri Bendel e-commerce website, during January 2019

September 13, 2018 Company and Stock News

  • Walmart (WMT) enters into definitive agreement to acquire Cornershop, Inc., an online delivery service from grocers and pharmacies in Mexico and Chile, for $225 million
  • United Parcel Service (UPS) announces plans to increase its adjusted earnings per share by $1.00-$1.20 by the year 2020, including reductions in its operating costs and substantial capital investments in its global network
  • Starbucks (SBUX) says it plans to operate 10,000 eco-friendly “Greener Stores” by the year 2025, which it expects to save the company an incremental $50 million in utility costs over the next ten years
  • Sears Holdings (SHLD) says it’s continuing to close unprofitable stores and to leverage its online and Shop Your Way platform in an effort to return the company to profitability
  • Qualcomm (QCOM) enters into accelerated share repurchase agreements with Bank of America, Citibank, N.A. and Morgan Stanley & Co. to repurchase $16 billion of its common stock
  • HollyFrontier (HFC) announced that its Board of Directors authorized the company to repurchase $1 billion of its stock, excluding approximately $43.6 billion of stock repurchases remaining under a prior authorization
  • Navient (NAVI) announced that its Board of Directors authorized the company to repurchase up to $500 million of its common stock in addition to $80 billion of repurchases that remain under a prior authorization
  • Acorda Therapeutics (ACOR) announced that the U.S. Food and Drug Administration extended the review period for the company’s treatment for Parkinson Disease
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