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Stock Market & Financial Investment News

News Breaks
May 30, 2014
14:33 EDTARCBArcBest announces land purchase agreement for new corporate facility
ArcBest announced that it is under contract to purchase 40 acres of land at Chaffee Crossing, Fort Smith, Ark., for construction of a new corporate headquarters facility as the company continues plans for significant growth at all of its operating subsidiaries. ArcBest, a holistic provider of transportation and logistics solutions, has exceeded the capacity at its current Fort Smith general office on Old Greenwood Road and has been leasing supplemental office space at a separate location since early 2012. The company has since outgrown the capacity at that location, which currently houses the ABF Logistics subsidiary personnel, as well. ArcBest has previously announced its goal to grow total corporate revenue to $3B by the end of 2015, with $1B coming from its emerging businesses. In 2013, revenue grew 11% to $2.3B. That anticipated growth, combined with space enabled by the new facility, supports the creation of 975 new jobs in Fort Smith through 2021.
News For ARCB From The Last 14 Days
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February 10, 2016
07:11 EDTARCBBB&T to hold a conference
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February 4, 2016
10:00 EDTARCBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
08:16 EDTARCBArcBest upgraded on valuation at Stifel
As noted earlier, Stifel upgraded Arc Best to Buy from Hold. The firm upgraded the stock based on valuation. Target $23.
06:25 EDTARCBArcBest upgraded to Buy from Hold at Stifel
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February 3, 2016
05:37 EDTARCBArcBest sees FY16 CapEx $170M-$200M
For 2016, total net capital expenditures are estimated to range from $170 million to $200 million. This includes revenue equipment purchases of $95 million primarily at ABF Freight. Expected real estate expenditures totaling approximately $45 million are for expansion opportunities, and include construction costs delayed from 2015 for previously disclosed call center facilities and a needed office building, a portion of which replaces leased space. The remainder of expected capital expenditures includes the costs of other facility and handling equipment at ABF Freight and technology investments across the corporation. ArcBest's depreciation and amortization costs on property, plant and equipment in 2016 are estimated to be in a range of $100 million to $110 million.
05:36 EDTARCBArcBest reports Q4 tonnage per day down 4.9%
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05:35 EDTARCBArcBest reports Q4 adjusted EPS 21c, consensus 41c
Reports Q4 revenue $648.13M, consensus $652.52M.

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