Actuant will not provide guidance with Q3 earnings report The company announced that it will be changing its timing for providing earnings guidance. While it will continue to provide annual and quarterly sales and earnings guidance, it will first provide initial annual guidance with its fiscal year-end earnings release, as is common practice in the industry, and not with its Q3 earnings, which has been its historical practice. This decision was made to eliminate duplicate forecasting processes and to more closely align the timing with the annual planning process. As such, the company plans to provide its FY15 guidance on its year-end earnings release which is scheduled for October 2.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.