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Stock Market & Financial Investment News

News Breaks
May 7, 2013
05:55 EDTACAT, ACAT, ACAT, ANSS, ANSS, ANSS, CROX, CROX, CROX, DRI, DRI, DRI, WDC, WDC, WDC, LSCC, LSCC, LSCC, JEC, JEC, JEC, FARO, FARO, FARORW Baird to host a conference
Growth Stock Conference is being held in Chicago on May 7-9.
News For ACAT;ANSS;CROX;DRI;WDC;LSCC;JEC;FARO From The Last 14 Days
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July 29, 2015
17:43 EDTWDCWestern Digital sees Q1 non-GAAP EPS $1.50-$1.60, consensus $1.76
Sees Q1 revenue $3.2B-$3.3B, consensus $3.5B.
16:56 EDTFAROFARO Technologies reports Q2 EPS 24c, consensus 24c
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16:16 EDTWDCWestern Digital reports Q4 EPS $1.51, consensus $1.45
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16:05 EDTFAROFARO Technologies appoints Laura A. Murphy as CFO
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15:59 EDTWDCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 47c... MetLife (MET), consensus $1.48... Williams (WMB), consensus 24c... Vertex (VRTX), consensus (58c)... O'Reilly Automotive (ORLY), consensus $2.26... NXP Semiconductors (NXPI), consensus $1.37... Marriott (MAR), consensus 81c... Fiserv (FISV), consensus 94c... Western Digital (WDC), consensus $1.45... SBA Communications (SBAC), consensus 9c... Whole Foods (WFM), consensus 45c... Lincoln National (LNC), consensus $1.53... Lam Research (LRCX), consensus $1.47... ServiceNow (NOW), consensus (2c)... Qorvo (QRVO), consensus $1.06... Hologic (HOLX), consensus 39c.
15:08 EDTWDCNotable companies reporting after market close
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14:12 EDTWDCEarnings Watch: Hard drive makers report amid PC sector fears
Western Digital (WDC) and Seagate (STX) are expected to report quarterly results on July 29 and 31 with conference calls scheduled for 5:00 pm ET and 9:00 am ET, respectively. The two companies develop and manufacture computer storage solutions, including hard disk drives. EXPECTATIONS: Analysts are expecting Western Digital to report earnings per share of $1.45 on revenue of $3.25B, while Seagate is expected to report earnings per share of 64c on revenue of $2.92B. During its last earnings conference call, Western noted a "cautious" near-term outlook and forecast Q4 EPS to be $1.50-$1.60 on revenue of $3.3B-$3.4B. PRELIMINARY RESULTS: On July 13, Seagate reported preliminary Q4 revenue of $2.9B, adjusted gross margins of 27%, and 45M unit shipments, driven by what the company characterized as "lower than expected intra-quarter demand." The company had previously guided Q4 revenue to $3.2B-$3.3B, and analysts were looking for $3.19B in revenue at the time. LAST QUARTER: On April 17, Seagate reported Q3 adjusted EPS of $1.08 against expectations for $1.04, and revenue of $3.3B versus estimates of $3.4B. Following that, Western Digital reported Q3 EPS of $1.87 on April 28 versus estimates of $1.89, and revenue of $3.5B against expectations for $3.6B. NEWS: On May 1, Seagate announced plans to combine its Cloud Systems and Electronic Solutions groups, and on July 14, the company said it extended its alliance with HP (HPQ). STREET RESEARCH: On May 15, RBC called Western Digital shares "compelling" due to multiple near-term positive catalysts, though Morgan Stanley said on May 19 that it was just "cautiously optimistic" on Western because of softened growth expectations for the general PC market. On May 28, Goldman Sachs called fears of PC weakness overdone and upgraded Western Digital to Buy, saying the company's increasingly enterprise-heavy mix gives it a healthy long-term profit forecast. On June 12, Longbow reported that its hard drive price checks were not quite as bad as it had feared, adding that Western Digital's guidance appears achievable while Seagate's forecast appeared at risk. Heading closer to earnings, Citi said on July 2 that it expects somewhat weak quarterly results for the two hard drive giants but recommended buying both Western Digital and Seagate shares on any perceived post-earnings weakness. Stifel somewhat echoed that point on July 8, saying investor sentiment seemed overly negative towards Western, with traders potentially underestimating the company's shift towards enterprise products. Note that on July 23, Morgan Stanley said its June CIO survey indicated incremental enterprise IT budget weakness, leading the research firm to downgrade Western Digital to Equal Weight and drop Seagate two notches to Underweight. On the M&A front, Susquehanna said on May 29 that SanDisk (SNDK) remained an attractive takeover target, with Western Digital looking like a likely buyer. However, RBC and CLSA both raised doubts on June 5 about the possibility of such a deal. PRICE ACTION: Shares of Western Digital are up 1.34% to $78.83 ahead of Wednesday's report, while Seagate is up 0.84% to $49.28.
July 28, 2015
07:49 EDTJECJacobs Engineering announces formal restructuring effort
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07:48 EDTJECJacobs board reauthorizes additional $500M share buyback program
Says Board of Directors reauthorizes an additional $500 million share buyback program with a term of three years.
07:47 EDTJECJacobs Engineering raises FY15 EPS view to $3.11-$3.31 from $2.90-$3.20
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07:46 EDTJECJacobs Engineering reports Q3 adjusted EPS 97c, consensus 73c
Reports Q3 revenue $2.91B, consensus $3.01B. Jacobs also announced continued strength in total backlog of $18.8 billion at June 26, 2015, including a technical professional services component of $12.2 billion.
July 23, 2015
11:49 EDTJECJacobs wins Smart Motorway Project contract by Highways England
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10:00 EDTWDCOn The Fly: Analyst Downgrade Summary
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06:57 EDTDRIDarden threatened with default call by bondholders over real estate, WSJ reports
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06:29 EDTWDCWestern Digital downgraded to Equal Weight from Overweight at Morgan Stanley
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July 22, 2015
06:34 EDTACATArctic Cat says focus is to rebuild, reposition company for 2017
The company commented, “As we’ve said, our focus over the next year is to rebuild and reposition the company for a return to long-term growth in fiscal 2017 and beyond. To achieve this, a key priority remains rightsizing our core North America ATV dealer inventory levels during fiscal 2016. We believe that we have strong strategic plans to turn the business around. Our strong balance sheet gives us the flexibility to make investments to grow the business through innovative products, strategic and OEM partnerships, and bolt-on acquisitions. Although we face significant challenges in fiscal 2016, including continued foreign currency headwinds, we see tremendous opportunities to improve the company’s operations, expand gross margins and enhance financial performance over time. We are excited about Arctic Cat’s long-term future.”
06:34 EDTACATArctic Cat backs FY16 EPS 80c-95c, consensus 90c
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06:32 EDTACATArctic Cat reports Q1 EPS (8c), consensus 0c
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July 21, 2015
07:46 EDTJECJacobs wins five year contract from Suncor
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07:45 EDTJECJacobs Engineering awardedc ontract for California high speed rail
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