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January 23, 2014
08:49 EDTCOLRockwell Collins upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Rockwell Collins following the company's Q1 results and raised its price target for shares to $95 from $82.
News For COL From The Last 14 Days
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January 26, 2016
06:32 EDTCOLRockwell Collins to acquire Matrix series project product lines
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January 22, 2016
12:32 EDTCOLOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday as they bid for their first two-day winning streak in what feels like a very long time amid a very tough start to 2016. The morning's strength was attributed to a continued rebound in oil prices and the prospects for economic stimulus in Japan, China and Europe. Oil prices remain higher by roughly 7% near noon and are holding solidly above $31 per barrel. As the first major winter storm bears down on the East coast, investor participation may slow down during the afternoon hours. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast. In Europe, Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. In Asia, Japan's Nikkei average rallied nearly 6%, with part of the strength attributed to a Nikkei Asian Review stating that the Bank of Japan is taking a "serious look" at additional easing. COMPANY NEWS: Shares of American Express (AXP) sunk 12% after the company reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors, evidenced by Keefe Bruyette's downgrade of the stock as well as CNBC's David Faber reporting that ValueAct is no longer an American Express shareholder... Fellow Dow member GE (GE) slid 2% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) gained nearly 5% after reporting earnings that topped expectations, approving a quarterly dividend of 50c per share and a new share repurchase program of $10B and saying it plans to cut 10,000 more jobs. MAJOR MOVERS: Among the notable gainers was Golar LNG (GLNG), which rallied 41% after it signed a memorandum of understanding with Schlumberger to jointly market gas monetization solutions. Also higher was Canadian Pacific (CP), which gained 12% and was upgraded to Outperform from Sector Perform at RBC Capital following its quarterly results. In addition, Sprint (S) was 13% higher after saying it will release earnings on January 26, which was earlier than expected, and also after JPMorgan said that the company's 2016 cash burn fears are overdone. Among the noteworthy losers was Rockwell Collins (COL), which fell 3.5% after it reported quarterly earnings and issued fiscal 2016 EPS guidance. Also lower was Cardiovascular Systems (CSII), which dropped 33% and was downgraded to Underperform from Buy at Needham following its quarterly earnings report. INDEXES: Near midday, the Dow was up 131.77, or 0.83%, to 16,014.45, the Nasdaq was up 90.73, or 2.03%, to 4,562.79, and the S&P 500 was up 27.79, or 1.49%, to 1,896.78.
06:34 EDTCOLRockwell Collins raises FY16 to $5.45-$5.65 from $5.20-$5.40, consensus $5.40
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06:32 EDTCOLRockwell Collins reports Q1 Commercial Systems sales $562M
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06:31 EDTCOLRockwell Collins: Q1 was a slow start to FY16 plan
The company commented, "Our sales and earnings for Commercial Systems and Information Management Services were in line with expectations. However, our Government Systems sales were below our expectations due to the timing of certain orders and a supplier quality issue which impacted late-quarter deliveries of communications products. I expect these issues to be quickly resolved and we should recover the delays within the fiscal year, supporting our second-half growth plan in Government Systems."
06:31 EDTCOLRockwell Collins reports Q1 EPS cont ops $1.00, consensus $1.00
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