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June 25, 2014
10:59 EDTBC, HOGHarley slides, Brunswick advances after ratings changes
Harley-Davidson (HOG) is falling and Brunswick (BC) is advancing after KeyBanc downgraded the shares of the motorcycle maker and upgraded the stock of the boat maker. WHAT'S NEW: There have been indications of "sluggish" motorcycle sales trends so far this year, KeyBanc analyst Brett Andress wrote in a note to investors earlier today. The trends appear to be "essentially flat," the analyst stated. Andress believes that Harley-Davidson performed better than the industry as a whole this quarter, as he estimates that the company's sales rose by low single digit percentage levels. Still, that is below the motorcycle maker's full-year guidance for a 7%-9% increase in shipments, the analyst noted. He downgraded his rating on the shares to Hold from Buy. Conversely, Brunswick should benefit from "modest, sustained momentum" in overall boat sales and a strong rebound in sales of its flagship SeaRay boats, the analyst believes. Andress cited positive registration data and anecdotes from retailers as two reasons for his optimism about the SeaRay line. Sales of the boats could double by 2017 to about $600M, he estimated. However, supply constraints may keep newer versions of the SeaRay line from coming on the market until the second half of 2014 or the first half of next year, so 2014 may be more of a transitional year for Brunswick, Andress warned. However, Brunswick's stock more adequately reflects this dynamic following its recent decline, according to the analyst, who upgraded the shares to Buy from Hold and set a $55 price target on the stock. PRICE ACTION: In mid-morning trading, Harley-Davidson dropped 1.2% to $69.85 and Brunswick gained 2% to $41.64.
News For BC;HOG From The Last 14 Days
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July 22, 2014
16:36 EDTHOGOn The Fly: Closing Wrap
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12:29 EDTHOGOn The Fly: Midday Wrap
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11:17 EDTBCBrunswick increases quarterly dividend to 12.5c per share
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09:34 EDTHOGHarley-Davidson drops after results, levels to watch
Shares are down 4.7% to $63.94 at time of writing. At that price, next support is at $63.10. Resistance is at $64.78.
09:28 EDTHOGHarley-Davidson says underlying fundamentals 'intact'
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09:08 EDTHOGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Chipotle (CMG), up 10.7%... Crocs (CROX), up 5%... Lockheed Martin (LMT), up 1.4%. ALSO HIGHER: GreenHunter Resources (GRH), up 10.3% after announcing intent to form MLP... TG Therapeutics (TGTX), up 9.5% after reporting Q2 results, preclinical study results, price target on shares raised to $19 from $13 at Brean Capital... FuelCell (FCEL), up 5.4% after announcing German government support, EUR 4.9M in research awards... Apache (APA), up 5.2% after Bloomberg says activist investor JANA Partners disclosed $1B position in the stock. DOWN AFTER EARNINGS: Harley-Davidson (HOG), down 4.1%... Travelers (TRV), down 3.4%... McDonald's (MCD), down 2.3%... Coca-Cola (KO), down 2.5%. ALSO LOWER: Amazon.com (AMZN), down 1% following downgrade to Neutral rating at Citigroup.
08:50 EDTHOGHarley-Davidson sees FY effective tax rate approximately 35.5%
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07:14 EDTHOGHarley-Davidson sees FY14 shipping increase 3.5%-5.5% over FY13
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07:12 EDTHOGHarley-Davidson reports 90,218 sold during Q2
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07:07 EDTHOGHarley-Davidson reports Q2 EPS $1.62, consensus $1.46
Reports Q2 revenue $2.00B, consensus $1.84B.
July 21, 2014
15:30 EDTHOGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Verizon (VZ), consensus 90c; Coca-Cola (KO), consensus 63c; Comcast (CMCSA), consensus 72c; United Technologies (UTX), consensus $1.70; McDonald's (MCD), consensus $1.44; Altria Group (MO), consensus 66c; du Pont (DD), consensus $1.17; Lockheed Martin (LMT), consensus $2.66; Kimberly-Clark (KMB), consensus $1.50; Travelers (TRV), consensus $2.07; Ingersoll-Rand (IR), consensus $1.11; State Street (STT), consensus $1.26; TD Ameritrade (AMTD), consensus 34c; Harley-Davidson (HOG), consensus $1.46; Polaris Industries (PII), consensus $1.39; Crocs (CROX), consensus 31c.
12:51 EDTHOGEarnings Preview: Harley-Davidson sees 92,000-97,000 motorcycles shipping in Q2
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July 18, 2014
15:37 EDTHOGHarley-Davidson August volatility elevated into Q2 and outlook
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10:03 EDTBCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Homes 4 Rent (AMH) upgraded to Strong Buy from Outperform at Raymond James... Andersons (ANDE) upgraded to Buy from Hold at BB&T... Brunswick (BC) upgraded at B. Riley... Burberry (BURBY) upgraded to Outperform from Neutral at Exane BNP Paribas... Colfax (CFX) upgraded at Stifel... ITV Plc (ITVPF) upgraded to Neutral from Sell at Citigroup... Olin Corp. (OLN) upgraded to Neutral from Underperform at Macquarie... Plexus (PLXS) upgraded to Buy from Neutral at Longbow... Resources Connection (RECN) upgraded to Outperform from Neutral at RW Baird... Sandy Spring Bancorp (SASR) upgraded at RW Baird... Seagate (STX) upgraded to Buy from Hold at Craig-Hallum... easyJet (ESYJY) upgraded to Outperform from Sector Perform at RBC Capital.
08:19 EDTBCBrunswick upgraded at B. Riley
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07:36 EDTBCBrunswick upgraded to Buy from Neutral at B. Riley
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July 17, 2014
17:50 EDTBCBrunswick maintains FY16 EPS target of $3.00-$3.40
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17:49 EDTBCBrunswick sees Retail Bowling divestiture dilutive to FY14 EPS by about 20c
As a result of these divestitures and associated discontinued operations treatment, Brunswick estimates the dilution to EPS from continuing operations, on both a GAAP and as adjusted basis, to be approximately 20c per diluted share for FY14. Further, Brunswick estimates that for 2014, the free cash flow from continuing operations will be lower by $35M-$40M.
17:46 EDTBCBrunswick to report Retail Bowling results as discontinued operations
As a result of the company's announced sale of its Retail Bowling business and its intention to sell its Bowling Products business, beginning with Q3, Brunswick will report the results of these businesses, which were previously reported in the Bowling & Billiards segment, as discontinued operations. In addition, the results of the Billiards business will be included in the company's Fitness segment.
16:30 EDTBCBrunswick to sell retail bowling business to Bowlmor AMF for $270M
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