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Stock Market & Financial Investment News

News Breaks
March 19, 2014
07:22 EDTACO, TWI, SJI, PRIM, POWL, OESX, MTRX, MSA, MIC, KSU, HOV, ASTE, ARC, XPOGlobal Hunter to hold a conference
1:1 Series Infrastructure & Construction Conference is being held in Chicago on March 19.
News For ACO;ARC;ASTE;HOV;KSU;MIC;MSA;MTRX;OESX;POWL;PRIM;SJI;TWI;XPO From The Last 14 Days
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September 8, 2014
06:04 EDTMTRXMatrix Service upgraded to Buy from Hold at KeyBanc
KeyBanc upgraded Matrix Service to Buy due to valuation.
September 5, 2014
10:05 EDTMTRXOn The Fly: Analyst Upgrade Summary
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09:57 EDTPRIMPrimoris management to meet with Global Hunter
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09:05 EDTMTRXMatrix Service weakness overdone, says DA Davidson
After Matrix reported lower than expected Q4 EPS and provided weaker than expected FY15 guidance, DA Davidson thinks the company's electrical business appears to be on a growth trajectory, while the momentum of its storage business should continue. The firm cut its price target on the shares to $36 from $40 but keeps a Buy rating on the stock.
07:24 EDTMTRXMatrix Service price target lowered to $31 from $39 at Stifel
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06:26 EDTMTRXMatrix Service upgraded to Overweight from Equal Weight at First Analysis
First Analysis upgraded Matrix Service to Overweight citing valuation following the sell-off on the Q4 report.
September 4, 2014
16:40 EDTHOVHovnanian CEO says August orders 'particularly strong'
Comment made on CNBC interview.
13:47 EDTOESXOrion Energy awarded $6.2M retrofit project
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13:42 EDTOESXOrion Energy trading halted, pending news
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12:34 EDTMTRXOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:02 EDTHOVHovnanian sees FY14 SG&A, pre-tax income similar to FY13
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11:31 EDTHOVHovnanian sees Q4 gross margin above 20%, but not as high as last year's Q4
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11:28 EDTHOVHovnanian sees FY14 gross margin similar to FY13
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09:19 EDTHOVHovnanian reports Q3 EPS 11c, consensus 9c
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09:06 EDTMTRXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PVH Corp. (PVH), up 9%... Verifone (PAY), up 3.8%... Methode Electronics (MEI), up 13%... Bazaarvoice (BV), up 9%. ALSO HIGHER: Bolt Technology (BOLT), up 35.7% after Teledyne (TDY) agrees to acquire the company for $22 per share in cash... Mitek Systems (MITK), up 58% after USAA lawsuit settlement... Tibco Software (TIBX), up 7% after announcing that it is reviewing strategic alternatives... Stereotaxis (STXS), up 22% after receiving FDA clearance for Vdrive with V-Loop system... NewLink (NLNK), up 3.4% after reporting FDA approval for Phase 1 clinical studies of Ebola vaccine. DOWN AFTER EARNINGS: Ciena (CIEN), down 3%... Joy Global (JOY), down 1%... Matrix Service (MTRX), down 11%... Mobileye (MBLY), down 1.3%. ALSO LOWER: Yum! Brands (YUM), down 2.8% after updating third quarter China division same-store sales guidance... 3D Systems (DDD), down 2.9% after downgraded at Pacific Crest... GoPro (GPRO), down 3.5% after downgraded at JPMorgan... Shanda Games (GAME), down 4% after announcing reconstitution of special committee.
07:31 EDTPRIMPrimoris acquires Ram-Fab from Synalloy Corp, deal valued at less than $10M
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September 3, 2014
16:57 EDTMTRXMatrix Service sees FY15 EPS $1.40-$1.60, consensus $1.77
The company expects FY15 revenues $1.425B-$1.525B, consensus $1.49B. The company is anticipating normal quarterly variability with Q1 being the lowest as activity in the Electrical Infrastructure and Oil Gas and Chemical segments are typically slower in the summer months.
16:56 EDTMTRXMatrix Service reports Q4 EPS 28c, consensus 36c
Reports Q4 revenue $344.4M, consensus $354.21M. Revenues increased in the Industrial, Storage Solutions and Electrical Infrastructure segments by $52.1M, $43.9M, and $27.3M, respectively. Backlog at June 30 totaled $915.8M.
15:29 EDTMTRXNotable companies reporting after market close
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10:27 EDTHOVHovnanian volatility increases into Q3 and outlook
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