New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2014
10:12 EDTBECNBeacon Roofing sees FY EPS unchanged from prior view, consensus $1.73
Says believes EPS will be in the lower portion of the current analyst range of $1.67-$1.94. Sees FY organic sales up in the 5%-10% range. Sees FY operating income in stated range of 6%-8%. Comments made on the Q1 earnings conference call.
News For BECN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2015
10:00 EDTBECNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
08:47 EDTBECNBeacon Roofing upgraded to Buy from Neutral at CL King
Subscribe for More Information
July 28, 2015
14:21 EDTBECNMasco spikes higher after quarterly results and analyst upgrade
Subscribe for More Information
10:00 EDTBECNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aegerion (AEGR) upgraded to Buy from Hold at Jefferies... Ameren (AEE) upgraded to Neutral from Sell at Goldman... AutoNation (AN) upgraded to Buy from Neutral at Sterne Agee CRT... Beacon Roofing (BECN) upgraded to Outperform at Baird... BlackBerry (BBRY) upgraded to Equal Weight from Underweight at Morgan Stanley... Bojangles (BOJA) upgraded to Buy from Neutral at SunTrust... Boyd Gaming (BYD) upgraded to Neutral from Underperform at BofA/Merrill... Columbus McKinnon (CMCO) upgraded to Buy from Neutral at Sidoti... Danaher (DHR) upgraded to Overweight from Equal Weight at Morgan Stanley... Emerald Oil (EOX) upgraded to Hold from Sell at Wunderlich... Haemonetics (HAE) upgraded Outperform from Market Perform at Barrington... Jefferies sees entry point for Aegerion (AEGR), upgrades to Buy... Philips (PHG) upgraded to Buy from Hold at Societe Generale... Plum Creek Timber (PCL) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at BofA/Merrill... SandRidge Energy (SD) upgraded to Hold from Sell at Wunderlich... Telecom Argentina (TEO) upgraded to Outperform from Market Perform at Raymond James... Teva (TEVA) upgraded to Outperform from Market Perform at BMO Capital... Triumph Bancorp (TBK) upgraded to Buy from Hold at Evercore ISI... Waste Management (WM) upgraded on valuation, rebounding businesses at Argus... Wisconsin Energy (WEC) upgraded to Buy from Neutral at Goldman.
08:25 EDTBECNBeacon Roofing upgraded to Outperform at Baird
As reported previously, Baird upgraded shares of Beacon Roofing to Outperform from Neutral citing the strategic fit of its acquisition of RSG. The firm cited the attractive cost of the acquisition and realistic synergies that will accrue over the next two years. Baird raised its price target to $40 from $33 on Beacon Roofing shares.
06:11 EDTBECNBeacon Roofing upgraded to Outperform from Neutral at Baird
Subscribe for More Information
July 27, 2015
17:36 EDTBECNOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
14:41 EDTBECNFollow-up: Beacon Roofing upgraded to Outperform at Raymond James
As previously reported, Raymond James upgraded Beacon Roofing to Outperform from Market Perform. The firm upgraded shares based on the attractive acquisition of privately held Roofing Supply Group and said the deal should improve long-term pricing dynamics.
14:13 EDTBECNBeacon Roofing upgraded to Outperform from Market Perform at Raymond James
Subscribe for More Information
12:03 EDTBECNOn The Fly: Top stock stories at midday
Subscribe for More Information
07:32 EDTBECNBeacon Roofing trading halted, pending news
Subscribe for More Information
07:31 EDTBECNBeacon Roofing to acquire Roofing Supply Group for approx. $1.1B from CD&R
Beacon Roofing Supply announced that it has entered into a definitive merger agreement to acquire Roofing Supply Group, a roofing products distributor owned by investment firm Clayton, Dubilier & Rice, in a cash and stock transaction valued at approximately $1.1B. Under the terms of the agreement, RSG shareholders will receive approximately $286M in cash and $291M of Beacon common stock, and Beacon will refinance approximately $565M of RSG's net debt. Beacon will fund the cash portion of the purchase price through a new ABL Revolver, Term Loan B and a senior unsecured bond offering. The transaction is targeted to close on October 1, 2015. The transaction is expected to be immediately accretive to adjusted EPS and to generate annual run-rate synergies of approximately $50M. The tax-efficient transaction structure is expected to enable Beacon to retain approximately $130M in net operating losses, existing intangible deductions of approximately $190M and transaction-related deductions of approximately $50M. Beacon will finance the transaction with a new ABL Revolver, Term Loan B and a senior unsecured bond offering. Following completion of the transaction, Mr. Isabella will continue to serve as President and CEO of the combined company, and Mr. Buck will remain Chairman of the Board of Directors. Mr. Arvan will continue to manage the RSG business and report to Mr. Isabella. Philip Knisely, Chairman of RSG and an Advisor to CD&R Funds, and Mr. Sleeper will join the Board of Directors.
July 22, 2015
14:37 EDTBECNHome improvement stocks rally after Owens Corning results, home sales data
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use