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Stock Market & Financial Investment News

News Breaks
February 26, 2014
11:28 EDTWM, CLH, CVA, PESIClean Harbors plunges to 52-week low after cutting guidance
Shares of Clean Harbors (CLH), a provider of environmental, energy and industrial services, are sinking after the company's fourth quarter results and its first quarter revenue forecasts trailed expectations. The company also lowered its fiscal 2014 revenue and adjusted EBITDA outlook. WHAT'S NEW: This morning, Clean Harbors reported Q4 earnings per share of 44c and revenue of $879.4M, trailing expectations of 55c and $894.41M, respectively. The company forecast Q1 revenue of $820M-$840M, compared to consensus of $907.47M. Q1 adjusted EBITDA was seen at $100M-$105M. The company lowered its FY14 revenue view to to $3.5B-$3.6B from $3.7B-$3.8B, versus consensus of $3.74B. It also cut its FY14 adjusted EBITDA view to $525M-$555M from $610M-$640M. The company cited an unanticipated slowdown due to adverse weather and the timing of holidays in December for the weak results and guidance. It also announced a $150M share repurchase program. STREET RESEARCH: In a note published prior to the company's earning conference call, research firm Wedbush predicted the company's quarterly miss and lowered outlook could result in shares trading down 10%-15% during today’s session. Wedbush said it was maintaining its positive stance on Clean Harbors with an Outperform rating and a 12-month price target of $74 for the time being, but added that its estimates and price target were under review. Note that Clean Harbors was mentioned cautiously by Grant's Interest Rate Observer in an article on February 6 and Herb Greenberg of TheStreet.com published a cautious report on the company in November of last year. PRICE ACTION: In late morning trading, Clean Harbors fell $7.81, or 14.5%, to $46.13 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $44.95. Including today's slide, the stock has lost about 19% over the past six months. OTHERS TO WATCH: Other firms providing environmental solutions include Perma-Fix Environmental Services (PESI), Covanta (CVA), and Waste Management (WM).
News For CLH;PESI;CVA;WM From The Last 14 Days
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February 27, 2015
07:05 EDTWM, CVA, PESIGabelli to hold a symposium
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February 26, 2015
07:33 EDTCLHClean Harbors price target raised to $70 from $62 at Stifel
Stifel increased its price target on Clean Harbors after the company announced that it would spin off its oil and gas plus base-camp lodging operations,. The firm notes that its price target increase captures some of the labor savings from the company $75M fiscal 2014 cost-cutting initiative. Stifel thinks the company has a number of remaining upcoming positive catalysts and keeps a Buy rating on the shares.
February 25, 2015
07:37 EDTCLHClean Harbors sees Q1 adjusted EBITDA $83M-$90M
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07:36 EDTCLHClean Harbors backs FY15 adjusted EBITDA $530M-$570M
“Activity in the Oil Sands region remains weak, limiting opportunities and creating pricing pressure for our Lodging Services segment. Our Oil and Gas Field Services segment is experiencing margin pressure as it operates in an environment of reduced exploration budgets and significantly lower rig counts in both the U.S. and Canada. We anticipate strength in Technical Services as we continue to drive substantial volumes into our disposal network, particularly from Safety-Kleen. Within SK Environmental Services, we see organic growth opportunities, including new branch locations and cross-selling with our Field Services team. Our Industrial Services business is poised for a year of increased turnaround services to our clients and sees a solid pipeline of project activity in the U.S. Within our Oil Re-refining and Recycling segment, we will continue to address the spread compression we have experienced in that business. In addition, we are implementing additional expense reductions in areas such as procurement, branch consolidations and non-billable headcount. We expect to see our margins continue to improve in 2015,” said the company.
07:34 EDTCLHClean Harbors reports Q4 EPS 46c, consensus 32c
Reports Q4 revenue $845M, consensus $835.96M. EPS included pre-tax integration and severance costs of $500,000.
February 17, 2015
09:20 EDTWMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
07:34 EDTWMWaste Management board authorizes share repurchase program of up to $1B
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07:34 EDTWMWaste Management board intends to increase dividend 4c to $1.54 on annual basis
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07:33 EDTWMWaste Management sees FY15 adjusted EPS $2.48-$2.55, consensus $2.48
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07:31 EDTWMWaste Management reports Q4 adjusted EPS 67c, consensus 60c
Reports Q4 revenue $3.44B, consensus $3.49B.

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