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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 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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May 6, 2015
07:33 EDTCLHClean Harbors says entering 'seasonally strongest' quarters
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07:32 EDTCLHClean Harbors sees Q2 adjusted EBITDA $138M-$145M
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07:32 EDTCLHClean Harbors expands planned carve-out to include Lodging Services segment
Clean Harbors announced that it has expanded its planned carve-out to include the entire Lodging Services segment. The cmpany previously announced that it intended to include only the drilling-related mobile assets as part of the expected standalone public entity, along with the Oil and Gas Field Services segment. “After careful consideration and further due diligence, we determined that combining all of the Lodging Services assets in the carve-out would maximize the total value of this business,” the company said. “We believe that keeping the Lodging business whole will enable it to work much better operationally. In addition, separating Lodging into two entities could reduce the effectiveness of each, and potentially would be confusing to our customers. As a result, we intend to include the entire Lodging Services segment in the carve-out, which we expect to be prepared to go public early next year.”
07:32 EDTCLHClean Harbors says Q1 results fell short of guidance
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07:31 EDTCLHClean Harbors reports Q1 EPS (12c) including items, consensus (1c)
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May 5, 2015
15:02 EDTCLHNotable companies reporting before tomorrow's open
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10:04 EDTCVAOn The Fly: Analyst Upgrade Summary
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08:46 EDTCVACovanta upgraded to Outperform at Baird
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06:26 EDTCVACovanta upgraded to Outperform from Neutral at Baird
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May 3, 2015
13:44 EDTCVACovanta shares looks undervalued at $20, Barron's says
Shares of Covanta look undervalued after recently falling to near $20, Barron's contends in its "Sizing up Small Caps" column. Competition in the waste-to-energy market remains low due to harsh regulations, and Barron's notes that the company recently secured a 20-year contract with New York City and hinted at potential expansion into Asia and Europe. Reference Link
April 29, 2015
07:37 EDTWMWaste Management sees FY15 adjusted EPS $2.48-$2.55, consensus $2.51
The company comments, “At the beginning of the year, we gave guidance that our 2015 adjusted earnings per diluted share would be between $2.48 and $2.55 for the full year, including a negative $0.03 to $0.05 diluted earnings per share headwind from recycling commodities. The annual impact from the recycling business is now anticipated to be closer to $0.10 per diluted share. We will continue to work to improve our recycling contracts and to implement additional operational improvements. Despite the increased recycling headwind, we still anticipate adjusted earnings per diluted share to be within the guidance range. We also expect to achieve our full year free cash flow guidance of between $1.4 and $1.5 billion."
07:36 EDTWMWaste Management reports Q1 adjusted EPS 49c, consensus 48c
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