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Stock Market & Financial Investment News

News Breaks
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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October 23, 2014
07:48 EDTBCBrunswick revises FY14 adjusted EPS view to $2.30-$2.35, consensus $2.33
Brunswick Chairman and CEO Dustan E. McCoy stated, “Our guidance continues to reflect another year of strong growth in adjusted operating earnings, as well as adjusted pretax earnings growth of 28%-31%. Finally, we are revising our previously stated 2014 diluted EPS, as adjusted, guidance to $2.30-$2.35."
07:47 EDTBCBrunswick sees business to continue to benefit from several new products in Q4
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07:43 EDTBCBrunswick reports Q3 EPS $64c, consensus 58c
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October 22, 2014
10:00 EDTBCBrunswick authorizes $200M stock repurchase plan
Brunswick Corporation announced that its board of directors has authorized the discretionary repurchase of up to $200M of the company's outstanding common stock. Share repurchases will be systematically completed in the open market or through privately negotiated transactions over approximately a two-year period, Brunswick said.
October 21, 2014
16:36 EDTHOGOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
12:57 EDTHOGOn The Fly: Midday Wrap
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11:54 EDTHOGHarley-Davidson races higher after Q3 earnings beat expectations
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09:34 EDTHOGHarley-Davidson continues to see pressure on HDSF operating income in FY14
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09:19 EDTHOGHarley-Davidson aims to add 100-150 international dealers between 2009-2014
Says has added 126 dealers since 2009. Aims to maintain a minimum of 12 months projected liquidity in cash and/or committed credit facilities. Looks to obtain cost-effective funding through diversified sources. Aims for its gross margin percentage in 2014 to be up modestly year-over-year for its motorcycles and related products segment. For the same segment, the company anticipates motorcycle shipments between 46.5K-51.5K in Q4 and SG&A to be up year-over-year, and down as a percentage of revenue. For the same division, the company expects its operating margin percentage in FY14 to be 17.5%-18.5%. Harley-Davidson's effective tax rate for FY14 is anticipated to be approximately 35%. HDFS operating income for the company's financial services segment is expected to be down modestly year-over-year. Comments taken from the company's Q3 earnings conference call slide presentation.
09:15 EDTHOGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Apple (AAPL), up 3%... Texas Instruments (TXN), up 2.3%... Harley Davidson (HOG), up 7%... Celanese (CE), up 4%... United Technologies (UTX), up 1.4%. ALSO HIGHER: Neonode (NEON), up 20% after signing technology development agreement with global tier-one printer OEM... Illumina (ILMN), up 10%, upgraded at Janney Capital following the company's better than expected Q3 earnings. DOWN AFTER EARNINGS: Coca-Cola (KO), down 5%... Chipotle (CMG), down 4.6%... Verizon (VZ), down 1%. ALSO LOWER: CEL-SCI (CVM), down 15.3% after announcing proposed offering of common stock, warrants... Omeros (OMER), down 12% after suspending Huntington's clinical trial with OMS824... Tesoro Logistics (TLLP), down 2.4% after 20M share secondary priced at $57.47... Rhino Resources (RNO), down 53%, downgraded to Underperform at Raymond James following the reduction in its quarterly cash dividend.
07:12 EDTHOGHarley-Davidson reports Q3 EPS 69c, consensus 60c
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07:09 EDTHOGHarley-Davidson 'on track' for year of growth and strong 2014 performance
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07:03 EDTHOGHarley-Davidson reports it sold 73,216 new motorcycles in Q3
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07:02 EDTHOGHarley-Davidson expects to ship 270K-275K motorcycles worldwide in 2014
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October 20, 2014
15:36 EDTHOGNotable companies reporting before tomorrow's open
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14:14 EDTHOGHarley-Davidson technical comments before earnings
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13:52 EDTHOGEarnings Preview: Harley-Davidson sees 49,000-54,000 motorcycles shipping in Q3
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October 17, 2014
07:26 EDTHOGHarley-Davidson volatility elevated into Q3 and outlook
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05:47 EDTHOGHarley-Davidson U.S. retail strength being underestimated, says Wells Fargo
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October 14, 2014
09:33 EDTHOGHarley-Davidson volatility elevated into Q3 and sales outlook
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