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January 2, 2013
10:02 EDTMAR, OSK, ADM, WAG, SFD, PRXL, BCR, ITW, HAIN, URBN, QDEL, ZEUS, BC, TTM, CAT, VAL, X, POMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Brunswick (BC) upgraded to Outperform from Market Perform at BMO Capital... C.R. Bard (BCR) upgraded to Overweight from Neutral at JPMorgan... Marriott (MAR) upgraded to Buy from Neutral at SunTrust... Olympic Steel (ZEUS) upgraded to Neutral from Underperform at Credit Suisse... PAREXEL (PRXL) upgraded to Buy from Neutral at Citigroup... Pepco Holdings (POM) upgraded to Outperform from Market Perform at Wells Fargo... Quidel (QDEL) upgraded to Outperform from Market Perform at Raymond James... Smithfield Foods (SFD) upgraded to Outperform from Market Perform at BMO Capital... U.S. Steel (X) upgraded to Outperform from Neutral at Credit Suisse... Urban Outfitters (URBN) upgraded to Hold from Underperform at Jefferies... Valspar (VAL) upgraded to Buy from Hold at KeyBanc... Walgreen (WAG) upgraded to Outperform from Market Perform at Raymond James... Hain Celestial (HAIN) upgraded to Outperform from Market Perform at BMO Capital... Archer Daniels (ADM) upgraded to Buy from Hold at Miller Tabak... Caterpillar (CAT) upgraded to Buy from Neutral at ISI Group... Illinois Tool Works (ITW) upgraded to Buy from Neutral at ISI Group... Oshkosh (OSK) upgraded to Buy from Neutral at ISI Group... Tata Motors (TTM) upgraded to Buy from Neutral at BofA/Merrill.
Check below for free stories on BC;BCR;MAR;ZEUS;PRXL;POM;QDEL;SFD;X;URBN;WAG;VAL;HAIN;ADM;CAT;ITW;OSK;TTM the last two weeks.
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April 22, 2014
09:35 EDTITWIllinois Tool Works sees Q2, FY14 organic revenue growth 2%-3%
Sees FY14 operating margin ~19.5%. For Q2, sees initiatives contributing about 100bps to margin. Sees essentially completing IPG divestiture related share repurchase program in Q2. Comments from slides that will be presented on the Q1 earnings conference call.
09:16 EDTITWOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
08:10 EDTITWIllinois Tool Works sees Q2 EPS $1.16-$1.24, consensus $1.16
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08:09 EDTITWIllinois Tool Works raises FY14 EPS view to $4.45-$4.65, consensus $4.45
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08:07 EDTITWIllinois Tool Works reports Q1 continuing ops EPS $1.01, consensus 98c
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07:24 EDTWAGSourceMedia to hold a forum
26th Annual Card Forum & Expo is being held in Orlando on April 22-25.
07:01 EDTVALG&K Services names Tracy Jokinen as CFO, effective June 29
G&K Services (GK) announced it has selected Tracy C. Jokinen as the company’s next CFO effective June 29. Jokinen will succeed Jeffrey L. Wright, who announced his planned retirement last October. Most recently, she served as Valspar’s (VAL) Vice President, Corporate Finance, where she led the company’s tax, treasury, investor relations, internal audit, operations finance, and corporate accounting functions.
April 21, 2014
15:16 EDTITWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 64c; United Technologies (UTX), consensus $1.27; McDonald's (MCD), consensus $1.24; Simon Property Group (SPG), consensus $2.24; Lockheed Martin (LMT), consensus $2.53; Bank of New York Mellon (BK), consensus 53c; Illinois Tool Works (ITW), consensus 98c; Travelers (TRV), consensus $2.16; Omnicom Group (OMC), consensus 79c; Pentair (PNR), consensus 73c; Harley-Davidson (HOG), consensus $1.08; Regions Financial (RF), consensus 20c; Genuine Parts Company (GPC), consensus $1.02; Xerox (XRX), consensus 24c; Carlisle (CSL), consensus 53c.
April 20, 2014
16:53 EDTCATCaterpillar looks to halt production at facility in France, WSJ says
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April 15, 2014
16:22 EDTADMOn The Fly: Closing Wrap
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13:19 EDTADMArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTADMMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
April 14, 2014
10:02 EDTOSKOn The Fly: Analyst Downgrade Summary
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09:13 EDTOSKOshkosh downgraded to Accumulate from Buy at Global Hunter
06:06 EDTPRXLPAREXEL appoint Peter Steiger as Chief Scientific Officer for Medical Imaging
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April 13, 2014
16:41 EDTWAGWalgreens investor group urges for re-domiciling tax base to Europe, FT says
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April 11, 2014
09:08 EDTWAGWalgreens has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Greg Wasson on April 17 at 2 pm.
April 10, 2014
13:47 EDTOSKOshkosh Defense segment to lay off approximately 700 hourly workers
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11:28 EDTWAGWalgreens management to meet with BB&T
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11:23 EDTWAGRite Aid hits 52-week high after results, sales view top estimates
Shares of retail drugstore Rite Aid (RAD) are rallying after the company's fourth quarter results and fiscal 2015 revenue outlook topped analysts' consensus estimates. WHAT'S NEW: This morning, Rite Aid reported fourth quarter adjusted earnings per share of 10c and revenue of $6.6B, compared to expectations of 4c and $6.54B, respectively. Q4 same store sales increased 2.1%. Rite Aid forecast FY15 EPS of 31c-42c, compared to the consensus of 35c. FY15 revenue was seen at $26B-$26.5B, ahead of the consensus $25.75B. FY15 same-store sales are expected by the company to be up 2.5%-4.5%. WHAT'S NOTABLE: Rite Aid also announced it has acquired RediClinic, which currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Rite Aid CEO John Standley said, “Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail healthcare company.” PRICE ACTION: In late morning trading, Rite Aid rose 71c, or about 11%, to $7.11 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $7.39. Including today's advance, the stock is up approximately 300% over the past twelve months. OTHERS TO WATCH: Other retail drugstore operators include Walgreen Company (WAG) and CVS Caremark (CVS).
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