Company & Stock News

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December 11 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
  • 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

September 12, 2018 Company and Stock News

  • Apple (AAPL) introduces new versions of its iPhone – the iPhone XR, iPhone Xs and iPhone Xs Max –, as well as new versions of its Apple Watch and HomePod speaker
  • Bloomberg News reported that another high-ranking finance executive at Tesla (TSLA) is leaving the company
  • Stanley Black & Decker (SWK) enters into definitive agreement to acquire a 20% ownership interest in MTD Products Inc., a privately-held manufacturer of outdoor power equipment, for $234 million in cash
  • Wabco Holdings (WBC) says it expects its truck and bus production in China to deteriorate by approximately 30% during the second half of 2018 and by 11% on a full year basis, as compared to the same periods a year ago; as a result, the company expects its full-year 2018 earnings per share to be at the lower half of its previously-provided estimate of $7.10-$7.40
  • The Hershey Company (HSY) and B&G Foods, Inc. (BGS) enter into definitive agreement for Hershey to acquire B&G’s Pirate Brand business for approximately $420.0 million in cash
  • Nielsen Holdings (NLSN) hires J.P. Morgan Securities LLC and Guggenheim Securities LLC to help it to consider a potential sale of the company
  • Bausch Health (BHC) and its wholly-owned subsidiary, Salix Pharmaceuticals, reach an agreement in a patent dispute with Actavis Laboratories regarding Salix’s XIFAXAN treatment for irritable bowel syndrome
  • Foamix Pharmaceuticals (FOMX) announced that it experienced positive results from a Phase 3 trial of the company’s treatment for acne
  • Vital Therapies (VTL) announced that the company will cease its development of ELAD, a cell-based therapy targeting the treatment of acute forms of liver failure, after a study of the treatment failed to meet its goals

September 11, 2018 Company and Stock News

  • Bloomberg reported that Tesla (TSLA) produced less than 3,500 of its Model 3 sedans during the week ended September 7, as opposed to the 6,000 weekly production rate that the company had projected it would produce by late-August
  • Microsoft (MSFT) announced that it’s planning to build a new, 132,000 square-foot state-of-the-art headquarters in Toronto, Canada and to hire 500 people to work at the facility when it’s completed during 2020
  • Verizon Communications (VZ) announced that it plans to launch the world’s first commercial 5G broadband internet service on October 1
  • IMAX Corporation (IMAX) enters into agreement with a subsidiary of China Resources Land, one of China’s larger state-owned commercial developers, to construct 14 new IMAX theatres in luxury shopping centers located in China’s major cities
  • Bloomberg reported that a consortium of institutional investors including Hillhouse Capital Group and KKR & Co. Inc. (KKR) is planning to discontinue its previously-planned acquisition of Yum China Holdings (YUMC)
  • Tilray (TLRY announced that one of its cannabis products was successfully imported into the United Kingdom to treat a sick pediatric patient
  • Gilead Sciences (GILD) announced that it experienced positive results from a Phase 3 study of the company’s treatment for rheumatoid arthritis
  • USA Technologies (USAT) announced that it will not file its Annual Report for the company’s fiscal year ended June 30, 2018 with the U.S. securities and Exchange Commission by the September 13, 2018 due date as a result of an ongoing internal investigation of the company’s financial reporting of some its contractual arrangements
  • MasTec (MTZ): MasTec, Inc. announced that its Board of Directors authorized the company to repurchase up to $150 million of its common stock after completing $100 million of repurchases under a prior authorization

September 10, 2018 Company and Stock News

  • Alibaba Group (BABA) announced that its CEO, Daniel Zhang, will succeed the company’s founder, Jack Ma, as Alibaba’s Chairman of the Board of Directors on September 10, 2019
  • Science Applications International (SAIC) and Engility Holdings (EGL) enter into definitive agreement under which SAIC will acquire Engility in an all-stock transaction valued at $2.5 billion
  • United Rentals (URI) says it will acquire BlueLine Rental, a renter of construction equipment to contractors and retail customers, for $2.1 billion in cash
  • Fred’s (FRED) and Walgreens (WBA) enter into definitive asset purchase agreement pursuant to which Walgreens will acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states for a cash purchase price of $165 million plus an amount equal to the value of the inventory included in the assets
  • Nutanix (NTNX) closes deal with the U.S. Department of Defense worth more than $20 million for usage of the company’s cloud-based enterprise software applications
  • Altaba (AABA) enters into agreement to sell all of its common stock holdings in Yahoo Japan Corporation to certain managers for ¥354 ($3.19) per share
  • Acorda Therapeutics (ACOR) announced that the U.S. Court of Appeals for the Federal Circuit upheld an earlier court decision to invalidate four of the company’s patents for its multiple sclerosis treatment, AMPYRA

September 7, 2018 Company and Stock News

  • Tesla (TSLA) reported that its Chief Accounting Officer provided notice that he is resigning from the company, effective immediately
  • Barnes & Noble (BKS) reported that Richard Schottenfeld, the General Partner of Schottenfeld Associates and the Schottenfeld Opportunity Fund, increased his investment position in the company to 6.9%
  • The Michaels Companies, Inc. (MIK) announced that its Board of Directors authorized the company to repurchase up to $500 million of its common stock in addition to approximately $100 million of repurchases authorized previously
  • Alibaba Group Holding (BABA) reported that it entered into a plan to repurchase up to $6 billion of its stock

September 6, 2018 Company and Stock News

  • Reuters reported that the European Commission approved Apple’s (AAPL) planned acquisition of Shazam Entertainment Ltd
  • Tesla’s (TSLA) CEO, Elon Musk, tweeted that the company’s Model 3 sedan outsold all BMW passenger cars in the United States and Canada during August
  • Advanced Micro Devices (AMD) announced that it’s offering a new family of Athlon System-on-Chip desktop processors with Radeon Vega graphics that are faster than its competitors’ chips
  • LaSalle Hotel Properties (LHO) and Pebblebrook Hotel Trust (PEB) enter into definitive merger agreement under which Pebblebrook will acquire 100% of LaSalle’s common shares
  • GameStop (GME) says it continues to engage with third parties regarding a potential sale of the company
  • Reuters reported that GlaxoSmithKline (GSK) said it would eliminate approximately 600 jobs in the United States as part of its global restructuring program
  • Rockwell Automation (ROK) announced that its Board of Directors authorized the company to repurchase up to $1 billion of its stock in addition to $245 million of stock repurchases that remain under a previous authorization
  • Boston Scientific (BSX) enters into definitive agreement to acquire Augmenix, Inc., a privately-held developer of a therapy used to reduce side effects that men experience after receiving prostate cancer radiotherapy
  • Marvell Technology Group’s (MRVL) CEO said in a conference call that cost synergies previously forecast regarding the company’s acquisition of Cavium Inc. would be approximately $200 billion by January 31, 2020

September 5, 2018 Company and Stock News

  • Harley-Davidson (HOG) says it will establish a new research and development facility in Northern California to support the company’s first line of electric motorcycles
  • 21st Century Fox (FOXA) invests a combined $100 million into Caffeine, a privately-held social broadcasting platform for gaming and entertainment, and a newly-formed joint venture called Caffeine Studios that is jointly owned by FOX Sports and Caffeine
  • MarketWatch reported that GameStop Corp. (GME) it is working with a financial advisor to potentially sell the company
  • NextEra Energy Partners, LP (NEP) enters into agreement to purchase 11 wind and solar projects located in seven U.S. states from NextEra Energy Resources, LLC for approximate $1.3 billion
  • ProQR Therapeutics (PRQR) announced that it experienced positive results from a trial of its treatment for Leber’s congenital amaurosis, a cause of blindness in children

September 4, 2018 Company and Stock News

  • Southwestern Energy (SWN) enters into definitive agreement to sell its Fayetteville Shale E&P and related midstream gathering assets to Flywheel Energy, LLC for $1.865 billion in cash; company commences tender offer to repurchase up to $900 million of its Senior Notes and to repurchase up to $200 million of its stock
  • Steel Dynamics (STLD) announced that its Board of Directors authorized the company to repurchase up to $750 million of its common stock

August 31, 2018 Company and Stock News

  • HCA Healthcare (HCA) signs definitive agreement to acquire substantially all the assets of Mission Health, a North Carolina-based non-profit operator of hospitals and medical centers, for approximately $1.5 billion
  • The Coca-Cola Company (KO) reaches definitive agreement to acquire Costa Limited, a leading provider of coffee and a wholly-owned subsidiary of Whitbread PLC, for approximately $5.1 billion

August 30, 2018 Company and Stock News

  • Reuters reported that Apple (AAPL) acquired Akonia Holographics, a privately-held maker of lenses for augmented reality glasses
  • Campbell Soup Company (CPB) announced that it plans to sell its Campbell International and Campbell Fresh businesses, as well as its manufacturing operations in Indonesia and Malaysia and its businesses in Hong Kong and Japan
  • Stryker Corporation (SYK) and K2M Group Holdings, Inc. (KTWO) sign definitive merger agreement for Stryker to acquire all of K2M’s common stock of for $27.50 per share
  • Moody’s (MCO) and Reis Inc. (REIS) enter into definitive merger agreement for Moody’s to Reis for $23.00 per share in cash
  • Electronic Arts (EA) reduces its estimated fiscal 2019 net bookings to $5.2 billion, from an earlier estimate of $5.5 billion
  • Insys Therapeutics (INSY) announced that the U.S. Food and Drug Administration granted Fast Track designation to the company’s epinephrine nasal spray as an investigational treatment for anaphylaxis, an acute, life-threatening allergic reaction

August 29, 2018 Company and Stock News

  • Moody’s Investor Service announced that it downgraded the senior unsecured rating of Ford Motor Company (F) to Baa3 from Baa2
  • Avnet, Inc. (AVT) announced that its Board of Directors authorized the company to repurchase $500 million of its stock in addition to $222 million worth of stock repurchases that remain under a prior authorization

August 28, 2016 Company and Stock News

  • Sears Holdings (SHLD) expands its “ship-to-store” tire installation and balancing program for persons buy any brand of tires on Amazon.com’s Internet web sites
  • The Wall Street Journal reported that Yum China Holdings (YUMC) received and rejected an offer from a consortium of institutional investors to acquire the company for $46 per share
  • Aspen Insurance Holdings Limited (AHL) and Apollo Global Management, LLC (APO) enter into agreement under which Apollo will acquire Aspen for $42.75 per share

August 27, 2018 Company and Stock News

  • Advanced Micro Devices (AMD) introduces new Radeon™ Pro V340 graphics card, the industry’s only hardware-based virtualization application
  • Bloomberg reported that Apple (AAPL) is planning to launch three new iPhones during September that will offer a wider range of prices, features and sizes
  • VMware (VMW) signs definitive agreement to acquire CloudHealth Technologies, a privately-held provider of cloud-based software applications that help users to analyze and manage cloud costs, usage, security, and performance issues
  • Pfizer (PFE) announced that it experienced positive results from a Phase 3 study of its Tafamidis drug to treat transthyretin amyloid cardiomyopathy, a disease that affects the heart and can lead to heart failure
  • Esperion Therapeutics (ESPR) announced that it experienced positive results from a Phase 3 trial of its treatment for patients with atherosclerotic cardiovascular disease

August 24, 2018 Company and Stock News

  • CNBC reported that “dozens” of Tesla’s (TSLA) employees have left the company to join Apple (AAPL) since late 2017
  • Reuters reported that Arconic, Inc. (ARNC) is holding discussions with several private equity firms that have shown an interest in acquiring the company
  • Enbridge Inc. (ENB) and Spectra Energy Partners (SEP) enter into definitive agreement for Enbridge to acquire Spectra for 1.111 common shares of Enbridge’s stock
  • E.W. Scripps (SSP) enters into accelerated share repurchase agreement to buy back $25 million of its Class A common shares by March 31, 2019.
  • Vistra Energy (VST) says it will close its 51-megawatt waste coal facility in McAdoo, Pennsylvania

August 23, 2018 Company and Stock News

  • Honeywell (HON) says it expects to complete its previously-announced spin-offs of the company’s Transportation Systems business, Garrett Motion Inc., and its Homes and ADI Global Distribution business, Resideo Technologies, Inc. by September 30, 2018 and December 31, 2018, respectively; separately, the company announced that it increased its full-year 2018 adjusted earnings per share estimate by five cents to a new range of $8.10-$8.20
  • Alphatebet’s (GOOG) Google division wrote in a blog that FireEye, Inc.’s (FEYE) cybersecurity applications identified suspicious activity originating from Iran that affected email accounts and three YouTube channels

August 22, 2018 Company and Stock News

  • Lowe’s Companies (LOW) says it expects to close all of its 99 Orchard Supply Hardware stores by January 31, 2019
  • The Hartford Financial Services Group (HIG) and The Navigators Group (NAVG) sign definitive agreement for The Hartford to acquire all of The Navigators’ common stock for $70 a share, in cash
  • Walmart (WMT) enters into strategic partnership with Rakuten Kobo Inc., a privately-held provider of electronic books, audiobooks, e-readers and tablet computers, to launch Walmart eBooks
  • Nordstrom (JWN) announced that its Board of Directors authorized the company to repurchase up to $1.5 billion of its stock
  • Exact Sciences (EXAS) and Pfizer (PFE) enter into agreement to co-promote Cologuard, the first and only FDA-approved non-invasive stool DNA screening test for colorectal cancer

August 21, 2018 Company and Stock News

  • CNBC reported that JPMorgan Chase & Co. (JPM) is launching a digital trading service that will include a sophisticated portfolio-building tool, no-fee access to the bank’s stock research and 100 free stock and/or ETF trades during the first year
  • SeaChange International (SEAC): SeaChange International, Inc. announced that it now expects its second-quarter financial operating results to be worse than it had estimated previously
  • Tilray, Inc. announced that it signed an agreement with the Ontario Cannabis Retail Corporation to supply the province of Ontario with a diverse array of cannabis products in anticipation of the launch of the province’s legalization of cannabis on October 17, 2018

August 20, 2018 Company and Stock News

  • The Wall Street Journal reported that suppliers of auto parts to Tesla (TSLA) are concerned about the company’s financial weakness and believe Tesla is now a financial risk to their companies
  • Tyson Foods (TSN) to acquire Marfrig Global Foods’ Keystone Foods business for $2.16 billion in cash
  • Lannett Company (LCI) announced that Jerome Stevens Pharmaceuticals informed the company that it will not renew its distribution agreement with Lannett, which expires on March 23, 2019
  • ConocoPhillips (COP) enters into settlement agreement with Venezuelan state-owned oil company Petróleos de Venezuela, S.A. to recover approximately $2 billion that an arbitral tribunal determined that Petróleos expropriated illegally from the company
  • Walmart (WMT) and Anthem (ANTM) announced today that beginning during January 2019 people enrolled in Anthem’s affiliated Medicare Advantage plans will be able to purchase medications and health-related items at lower prices at Walmart’s 4,700 stores and on Walmart.com

August 17, 2018 Company and Stock News

  • Tesla, Inc’s (TSLA) CEO, Elon Musk, said that he had no regrets about writing in a tweet on August 7 that he was considering taking the company private at $420 a share and that funding for such a deal had been “secured”
  • Bristol-Myers Squibb (BMY) announced that the U.S. Food and Drug Administration approved the company’s Opdivo treatment for patients with small cell lung cancer
  • Zoe’s Kitchen (ZOES) enters into definitive agreement to be acquired Cava Group, Inc. for $12.75 per share of Zoe’s stock in cash

August 16, 2016 Company and Stock News

  • Bloomberg News reported that Amazon.com (AMZN) is considering an acquisition of Landmark Theaters; separately, Reuters reported that Amazon has held discussions with insurance companies in the United Kingdom to potentially launch an online provider of insurance products
  • The Kroger Co. enters into strategic partnership with Nuro, a privately-held manufacturer of the world’s first driverless delivery vehicle, to begin testing grocery delivery services in Scottsdale, Arizona
  • The Wendy’s Company (WEN) accepts offer from Inspire Brands to sell its 12.3% ownership interest in the company back to Inspire Brands for $450 million; separately, Wendy’s announced that its Board of Directors authorized the company to repurchase up to $100 million of its common stock through December 31, 2019
  • Teva Pharmaceutical (TEVA) and Regeneron Pharmaceuticals (REGN) announced that they experienced positive results from a Phase 3 study of their treatment for chronic pain from osteoarthritis of the knee or hip.

August 15, 2018 Company and Stock News

  • Fox Business News reported that the U.S. Securities and Exchange Commission sent subpoenas to Tesla, Inc. (TSLA) regarding the company’s CEO’s tweet on August 7 claiming that the company had secured funding for a going-private transaction
  • Best Buy (BBY) signs definitive agreement to acquire GreatCall, Inc., a privately-held provider of easy-to-use mobile applications for healthcare-related personal emergency services, for $800 million in cash
  • Movado Group (MOV) enters into definitive agreement to acquire MVMT Watches Inc. for an initial payment of approximately $100 million and two future contingent payments that combined could total up to an additional $100 million
  • Cabot Microelectronics Corporation (CCMP) and KMG Chemicals, Inc. (KMG) enter into definitive agreement under which Cabot will acquire KMG for $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock

August 14, 2018 Company and Stock News

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  • McDonald’s (MCD) announced that it and its franchisees are investing $6 billion to modernize most of their U.S. restaurants by 2020
  • Tesla (TSLA) announced that its Board of Directors formed a special committee composed of three independent directors to consider a transaction to take the company private
  • Perry Ellis (PERY) terminates discussions with privately-held Randa Accessories Leather Goods LLC regarding Randa’s revised proposal to acquire the company for $28.90 per share in cash
  • The Coca-Cola Company (KO) announced that it’s taking a minority ownership stake in BODYARMOR, a fast-growing line of premium sports performance and hydration beverages
  • The Kroger Co. (KR) forms strategic partnership with China’s Alibaba Group Holding (BABA) to sell Kroger’s groceries in China via Alibaba’s ecommerce sites
  • CNBC reported that Apple (AAPL) is seeking to hire software engineers and programmers to work on a custom processor for health sensors
  • Diamondback Energy (FANG) and Energen Corporation (EGN) enter into definitive agreement under which Diamondback will acquire Energen in an all-stock transaction valued at approximately $9.2 billion

August 13, 2018 Company and Stock News

  • VF Corporation (VFC) announced that it intends to separate the company into two independent, publicly traded companies, an apparel and footwear company that will market its North Face and Timberland brands, and a separate company that will market its Wrangler and Lee branded jeans
  • Alnylam Pharmaceuticals (ALNY) announced that the U.S. Food and Drug Administration approved the company’s ONPATTRO™ injection for the treatment of malfunction of bodily nerves

August 10, 2018 Company and Stock News

  • LM Ericsson Company (ERIC) says it will increase its 5G infrastructure and artificial intelligence investments in the United States and begin manufacturing in the U.S. during the fourth quarter of 2018 to make 5G products available as soon as possible
  • JetBlue Airways (JBLU) announced that its revenue passenger miles rose by 5% during July, as compared to the same month a year ago
  • Bloomberg News reported that General Electric (GE) is working with Credit Suisse Group AG regarding a potential sale of its power-conversion business
  • YUM! Brands (YUM) announced that its Board of Directors authorized the company to repurchase up to $2 billion of its common stock through the end of 2019 in addition to approximately $329 million of stock repurchases remaining under prior authorizations

August 9, 2018 Company and Stock News

  • Sinclair Broadcast Group (SBG) announced that it received a termination notice of its merger agreement from Tribune Media Company (TRCO), and that it withdrew with prejudice its Federal Communications Commission applications to acquire Tribune; separately, the company announced that its Board of Directors authorized the company to repurchase up to $1 billion of its Class A common shares
  • Fitch Ratings upgrades Nokia Corporation’s (NOK) Long-Term Issuer Default Rating and senior unsecured rating to BBB- from BB+
  • Qualcomm (QCOM) reaches mutually agreed-upon settlement with the Taiwan Fair Trade Commission to resolve the Commission’s investigation of Qualcomm and the Commission’s alleged claims that the company violated Taiwan’s Fair Trade Act

August 8, 2018 Company and Stock News

  • The Wall Street Journal reported that officials at the U.S. Securities and Exchange Commission are investigating a comment tweeted by Tesla, Inc.’s (TSLA) CEO, Elon Musk, on August 7, whereby Musk stated that he’s considering taking the company private and that he has secured funding for such a transaction
  • General Electric (GE) and Starwood Property Trust (STWD) enter into definitive agreement under which Starwood will acquire GE Capital’s Energy Financial Services’ Project Finance Debt Business and loan portfolio for $2.56 billion
  • Amazon.com (AMZN) launches grocery pickup service for Whole Foods customers in Sacramento and Virginia Beach
  • WSFS Financial Corporation (WSFS) signs definitive agreement to merge with Beneficial Mutual Bancorp (BNCL) in a transaction valued at approximately $1.5 billion
  • Helios and Matheson (HMNY) announced that Bruce Willis agreed to star in “10 Minutes Gone”, a film being produced by the company’s MoviePass Films business
  • The Chicago Tribune reported that its owner, tronc, Inc. (TRNC) is considering an offer to sell that newspaper and its other holdings to a private-equity firm for a price of $19-$20 per share of tronc’s stock
  • LendingClub Corporation (LC) received civil investigative demand from the office of the Attorney General of the State of Massachusetts relating to the company’s advertising and disclosure practices
  • Cummins (CMI) enters into accelerated share repurchase agreement with Goldman, Sachs & Co to repurchase $500 million of its common stock
  • iCAD Inc. (ICAD) announced that the U.S. Food and Drug Administration approved the company’s artificial intelligence software application for the screening for breast cancer

August 7, 2018 Company and Stock News

  • Tesla’s CEO, Elon Musk, tweeted that he’s considering taking the company private and that he’s secured funding for such a deal; separately, the Financial Times reported that Saudi Arabia’s sovereign wealth fund has invested $1.7-$2.9 billion in Tesla (TSLA)
  • Sinclair Broadcast Group (SBGI) launches new over-the-top (“OTT”) advertising platform, CompulseOTT, that will focus exclusively on OTT advertising
  • The Orlando Sentinel reported that SeaWorld Entertainment (SEAS) is eliminating 125 positions amid a company-wide restructuring
  • The Kroger Co. (KR) announced that it’s exploring strategic alternatives for its Turkey Hill business, including a potential sale
  • AT&T (T) acquires The Chernin Group’s controlling interest in Otter Media, a provider of video subscription and advertising services

August 6, 2018 Company and Stock News

  • Sears Holdings (SHLD) announced that it’s adding merchandise from third-party retailers and manufacturers to the company’s ecommerce site, including products from Nashville Shoe Warehouse, TTI Floor Care, and APMEX, one of the world’s larger online retailers of precious metals, collectables coins and jewelry
  • Avis Budget (CAR) enters into multi-year agreement with Lyft under which Avis will add thousands of automobiles to the Lyft Express Drive program in cities throughout North America
  • The Wall Street Journal reported that Facebook (FB) asked JPMorgan Chase & Co. (JPM) Wells Fargo & Co. (WFC), Citigroup Inc. (C) and U.S. Bancorp (USB) to share detailed financial information about their customers, including credit card transactions and checking account balances
  • Bemis Company (BMS) announced that its Board of Directors approved a definitive agreement for the company to be acquired by Amcor Limited, an Australian provider of packaging products, for approximately $57.75 per Bemis share
  • Henry Schein (HSIC) implements restructuring plan designed to increase the company’s profitability; as a result of its restructuring activities, the company stated that it expects to record a restructuring charge of $45-$55 million for the year ending December 31, 2018
  • Zillow Group (ZG) enters into definitive agreement to acquire Mortgage Lenders of America, a privately-held national mortgage lender headquartered in Overland Park, Kansas
  • Connecticut Water Service (CTWS) and SJW Group (SJW) amend the terms of their previously-announced merger agreement from a stock-for-stock transaction to an all-cash acquisition

August 3, 2018 Company and Stock News

  • Biogen (BIIB) reported that its Board of Directors authorized the company to repurchase up to $3.5 billion of its common stock
  • Perry Ellis International (PERY) receives revised, non-binding, unsolicited proposal from privately-held Randa Accessories Leather Goods LLC to acquire 100% of the company’s outstanding common stock for $28.90 per share in cash

August 1, 2018 Company and Stock News

  • HP Inc. (HPQ) signs definitive agreement to acquire Apogee Corporation, a U.K.-based office equipment dealer for £380M (approximately $495 million)
  • CNBC reported that Amazon.com (AMZN) plans to stop using Oracle Corporation’s (ORCL) database software by the first quarter of 2020
  • Synaptics (SYNA) terminates its previously-announced discussions with U.K.-based Dialog Semiconductor plc regarding Dialog’s potential acquisition of Synaptics
  • HanesBrands (HBI) announced that Target Corporation (TGT) will not renew its contract with the company for an exclusive line of C9 by Champion activewear apparel when the current contract expires during January 2020
  • The Wall Street Journal reported that Facebook (FB) will begin selling advertisements through its WhatsApp Status feature during 2019, and that the company plans to start charging big companies that communicate with their customers through WhatsApp between half a penny and 9 cents per message
  • The U.S. Department of Justice announced today that Wells Fargo & Company (WFC) agreed to pay a $2.1 billion civil penalty as a result of the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information
  • Kroger (KR) launches a new direct-to-customer ecommerce platform, Kroger Ship, in Cincinnati, Houston, Louisville, and Nashville

July 31, 2018 Company and Stock News

  • United Parcel Service (UPS) enters into strategic partnership with Thor Trucks, Inc. to develop and test a fully-electric class-6 delivery truck that has a driving range of approximately 100 miles
  • Qualcomm (QCOM) commences “modified Dutch auction” tender offer to purchase up to $10 billion of shares of its common stock through August 27, 2018 at a price not less than $60.00 nor greater than $67.50 per share
  • Naked Brand (NAKD) enters into agreement with CVS Health Corporation (CVS) to provide its Heidi Klum Intimates clothing apparel and accessories in approximately 4,000 of CVS Health’s stores across the United States
  • Forest City Realty (FCE.A) and Brookfield Asset Management (BAM): Forest City Realty Trust, Inc. and Brookfield Asset Management, Inc. enter into a definitive agreement under which a Brookfield real estate investment fund will acquire all of the outstanding shares of Forest City’s common stock for $25.35 per share
  • Castlight Health (CSLT) announced that due to the loss of a major customer the company intends to reduce its operating expenses by 10%-15% and to record a restructuring charge associated with those reductions during the quarter ending September 30, 2018

July 30, 2018 Company and Stock News

  • Harley-Davidson (HOG) says it plans to offer several new small and mid-sized motorcycles and its first electric motorcycle, named LiveWire
  • AMC Networks (AMCX) and RLJ Entertainment (RLJE) enter into definitive agreement for AMC to acquire RLJ for approximately $65 million
  • Fossil Group (FOSL) enters into licensing agreement with BMW to design and manufacture BMW-branded watches and smartwatches
  • Caterpillar (CAT) announced that it expects to repurchase approximately $1.25 billion of its common stock through the end of 2018; additionally, the company stated that its board of directors authorized the company to repurchase up to an additional $10 billion of its stock beginning on January 1, 2019
  • Nokia (NOK) and T-Mobile (TMUS) sign a $3.5 billion multi-year agreement under which Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services, and help T-Mobile to build its 5G network
  • U.S. Foods Holding Corp. (USFD) enters into definitive agreement to acquire Services Group of America’s five operating companies for $1.8 billion in cash
  • Alliance Data Systems (ADS) announced that its board of directors authorized the company to repurchase $500 million of its stock beginning August 1, 2018

July 27, 2018 Company and Stock News

  • Intel Corporation’s (INTC) chief engineering officer indicated in a conference call following the company’s second-quarter 2018 earnings announcement that progress on the company’s 10-nanometer servers has been delayed
  • Insys Therapeutics (INSY) announced that the U.S. Food and Drug Administration did not approve the company’s new drug application for its pain-treatment spray

July 26, 2016 Company and Stock News

  • Walmart (WMT) unveils new ways for customers to browse and discover the company’s online nursery offerings with new “shop by style” options; separately, the company’s Walmart Canada division announced that it plans to invest more than $175 million to build a 300,000-square-foot frozen grocery fulfillment center in Surrey, British Columbia and to hire 150-200 people to work at the facility
  • Facebook (FB) launches new way for people to watch videos together, and to interact with one another in real time, under the name of Watch Party
  • Xerox (XRX) announced that its Board of Directors authorized the company to repurchase up to $1 billion of its common stock

July 25, 2018 Company and Stock News

  • Qualcomm (QCOM) terminates acquisition offer for NXP Semiconductors (NXPI); separately, Qualcomm’s Board of Directors authorized the company to repurchase $30 billion of its stock

July 24, 2018 Company and Stock News

  • Marriott International (MAR) signs agreement with luxury hospitality development firm Flag Luxury Group to build a 500-foot, 250-room Ritz-Carlton in New York City’s vibrant NoMad neighborhood, also known as North of Madison Square Park
  • Pfizer (PFE) says it will invest $465 million to build a 400,000-square-foot technically-advanced sterile injectable pharmaceutical production facility in Portage, Michigan and hire approximately 450 people to work at the facility
  • Ultra Clean Holdings (UCTT) signs agreement to acquire Quantum Global Technologies, LLC, a privately-held provider of cleaning and coating services, tool part life extension and other optimization applications for manufacturers of semiconductors, for approximately $342 million, in cash

July 23, 2018 Company and Stock News

  • The Wall Street Journal reported that Tesla, Inc. (TSLA) requested refunds from some of its parts suppliers for automobile components that it purchased as early as 2016
  • LifePoint Health (LPNT) enters into definitive agreement to merge with RCCH HealthCare Partners, which is owned by funds managed by affiliates of Apollo Global Management, LLC (APO), for $65.00 per share in cash
  • Infinera Corporation (INFN) says it intends to acquire Coriant, a privately-held global supplier of open, hyperscale network applications, for approximately $430 million

July 20, 2018 Company and Stock News

  • Amazon.com (AMZN) says it plans to open a new 600,000 square-foot fulfillment center in Spokane, Washington and to hire more than 1,500 people to work at the facility
  • Sears Holdings’ (SHLD) Shop Your Way division enters into strategic partnership with Booking Holdings’ (BNKG) Rocketmiles services to give Shop Your Way members access to reserve rooms at over 400,000 hotels around the world and an average of $50 CASHBACK points in their Shop Your Way Points for each booking
  • The Wall Street Journal reported that Esterline Technologies (ESL) is exploring a sale of the company
  • FTD Companies (FTD) initiates corporate restructuring plan, including a potential sale or merger of the company and an elimination of its Chief Operating Officer position; additionally, the company reported that it expects its net income and revenues for both the quarter ended June 30, 2018 and the year ending December 31, 2018 to be substantially lower than during the same periods a year ago
  • Reuters reported that Apollo Global Management LLC (APPO) is holding discussions to acquire LifePoint Health (APO)
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