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Stock Market & Financial Investment News

News Breaks
February 26, 2014
11:28 EDTCLH, PESI, CVA, WMClean 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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August 27, 2014
09:53 EDTWMOn The Fly: Analyst Upgrade Summary
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07:34 EDTPESIPerma-fix granted Notice of Allowance from U.S. Patent Office
Perma-Fix subsidiary Perma-Fix Medical S.A. announced that in mid-August, the US Patent Office issued a notice of allowance to Perma-Fix Environmental Services allowing all claims in its recent patent application for preparation of its Microporous Composite Material and its derivatives. Perma-Fix Medical has a Patent License Agreement with Perma-Fix Environmental Services, for the production of Tc-99m, the proprietary resin that Perma-Fix manufactures.
07:18 EDTWMWaste Management upgraded at Stifel
As noted earlier, Stifel upgraded Waste Management to Buy from Hold. The firm upgraded the stock after learning that the company is looking to reduce its workforce by 600 employees. The firm expects the company's traditional baseline free cash flow to reach $1.4B and grow 4%-6% over the long-term. Target $55.
06:09 EDTWMWaste Management upgraded to Buy from Hold at Stifel
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August 21, 2014
13:06 EDTPESI R. Scott Asen reports 6.59% passive stake in Perma-fix Environmental
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07:29 EDTCLHClean Harbors coverage resumed with a Buy at Stifel
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