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Stock Market & Financial Investment News

News Breaks
March 10, 2013
12:43 EDTETN, CMIEaton and Cummins announce powertrain package for North American truck market
Eaton (ETN) and Cummins (CMI) unveiled a new powertrain package for the North American heavy duty truck market that is expected to deliver 3-6 percent fuel economy improvements, lower preventative maintenance costs, and total lifecycle cost improvements. The new product integrates an Eaton Fuller Advantage Series automated transmission with new Cummins ISX15 SmartTorque2 ratings. The product will be available in the fall of 2013 for linehaul, regional haul and less-than-truckload applications.
News For ETN;CMI From The Last 14 Days
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October 30, 2014
11:32 EDTCMIBorgWarner falls after cutting FY14 outlook
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October 29, 2014
09:19 EDTETNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Goodyear Tire (GT), up 10%... Electronic Arts (EA), up 3.7%... ZELTIQ (ZLTQ), up 9%... Eaton (ETN), up 2.3%... Anadarko (APC), up 2%... U.S. Steel (X), up 7.7%... IAC (IACI), up 3.6%. ALSO HIGHER: Fiat Chrysler (FCAU), up 12% after reporting quarterly results, announcing plan to spin off Ferrari... Cara Therapeutics (CARA), up 17.8% after HAL trial of IV formulation of CR845 met primary endpoint... Jamba (JMBA), up 4% after upgraded at Wedbush. DOWN AFTER EARNINGS: Facebook (FB), down 5.7%... Gilead (GILD), down 3.2%... Ralph Lauren (RL), down 2.3%... SodaStream (SODA), down 3%... Garmin (GRMN), down 5%... Applied Micro Circuits (AMCC), down 9.9%... STMicroelectronics (STM), down 10%... Ballard Power (BLDP), down 8.7%... Hershey (HSY), down 3.3%... Deutsche Bank (DB), down 2.3%... McKesson (MCK), down 2%. ALSO LOWER: Sanofi (SNY), down 5.7% after downgraded at various firms including Barclays and BofA/Merrill after the company's board removed Christopher Viehbacher as CEO... InvenSense (INVN), down 22%, downgraded at Pacific Crest, Northland and Piper Jaffray following the company's Q2 earnings results... CareTrust REIT (CTRE), down 3.6% after acquiring Cross Healthcare Seniors housing portfolio... Orbital (ORB), down 16% after Orb-3 launch mishap... American Realty (ARCP), down 22% after announcing resignations of CFO, CAO.
06:36 EDTETNEaton reports Q3 Electrical Products sales up 3% to $1.9B
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06:35 EDTETNEaton sees FY14 EPS $4.55-$4.65, consensus $4.54
Strong productivity growth and tight expense control are offsetting the impact of negative foreign exchange and lower market growth.
06:34 EDTETNEaton sees Q4 EPS $1.15-$1.25, consensus $1.18
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06:34 EDTETNEaton expects markets in 2014 likely to grow 2%, down from prior estimate of 3%
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06:33 EDTETNEaton reports Q3 EPS excl. items $1.29, consensus $1.23
Reports Q3 revenue $5.73B, consensus $5.80B
October 28, 2014
17:01 EDTCMIOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory despite two disappointing economic data points and a mixed report from social media giant Twitter (TWTR). The market moved in a narrow range for the opening half hour of trading but gained upside momentum following a much better than expected consumer confidence reading. The market continued to tack on points throughout the afternoon and closed at its highs, led by the Nasdaq, which gained 1.75% for the session. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.3% in September, significantly undershooting expectations for them to have rise 0.7% in the month. The S&P Case-Shiller home price report showed prices were lower on a seasonally adjusted basis in the month of August compared to the prior month. A reading of consumer confidence surged to a seven-year high of 94.5 in October from a revised 89.0 final reading for September. The Richmond Fed's manufacturing index rose 6 points to 20 in October, beating expectations for it to have pulled back to 10. COMPANY NEWS: Twitter (TWTR) sunk $4.78, or 9.84%, to $43.78 after the social media company reported in-line profit and higher than expected Q3 revenue, but also reported a slowdown in user growth and provided weaker than expected Q4 guidance. Following last night's report, the stock was downgraded at RBC Capital, Nomura and Bank of America Merill Lynch to "Hold" or equivalent ratings, while Stifel lowered its rating on Twitter shares to Sell from Hold... Shares of Pfizer (PFE) edged up 6c, or 0.21%, to $29.09 after the pharmaceutical giant reported third quarter adjusted earnings per share and revenue that were a bit better than expected and narrowed its fiscal year profit outlook. Of note, Pfizer said during its earnings conference call that while proposed rule changes have made "inversions" more difficult, that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, gained 67c, or 0.95%, to $71.43 following Pfizer's comments. MAJOR MOVERS: Among the notable gainers following their earnings reports were Whirlpool (WHR), which advanced $10.66, or 6.77%, to $168.06, Cummins (CMI), which gained $9.22, or 6.81%, to $144.59, and Cliffs Natural (CLF), which jumped $2.05, or 22.19%, to $11.29. Among the noteworthy losers was Kohlís (KSS), which dropped $3.89, or 6.64%, to $54.66 after the department store operatorís outlook for third quarter same store sales and fiscal 2014 profit missed expectations. Also lower were shares of Coach (COH), which fell $2.15, or 5.95%, to $34.00 after the luxury handbag and accessory maker reported sales declined 9% on a constant currency basis in its first quarter. INDEXES: The Dow rose 187.81, or 1.12%, to 17,005.75, the Nasdaq advanced 78.36, or 1.75%, to 4,564.29, and the S&P 500 gained 23.42, or 1.19%, to 1,985.05.
15:44 EDTETNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Southern Company (SO), consensus $1.07; Phillips 66 (PSX), consensus $1.75; Automatic Data Processing (ADP), consensus 60c; Praxair (PX), consensus $1.63; WellPoint (WLP), consensus $2.27; Exelon (EXC), consensus 73c; Eaton (ETN), consensus $1.23; Hess (HES), consensus $1.08; TE Connectivity (TEL), consensus $1.00; McGraw Hill Financial (MHFI), consensus 94c; Waste Management (WM), consensus 68c; Hershey (HSY), consensus $1.08; Ralph Lauren (RL), consensus $2.06; Wisconsin Energy (WEC), consensus 53c; Garmin (GRMN), consensus 71c; Sealed Air (SEE), consensus 46c; DENTSPLY (XRAY), consensus 60c; Goodyear Tire (GT), consensus 70c; Revlon (REV), one estimate 45c; Booz Allen (BAH), consensus 41c; Carlyle Group (CG), consensus 54c.
07:33 EDTCMICummins raises FY14 revenue growth view to 10%-12% from 8%-11%
Consensus $19B. Cummins expects full year 2014 revenues to grow between 10 percent and 12 percent, up from its previous forecast of growth of between 8 percent and 11 percent, due to stronger demand in North America. EBIT is expected to be in the range of 13 to 13.5 percent of sales, excluding the impact of cost reduction activities within the Power Generation business that will commence in the fourth quarter. CEO Tom Linebarger said, "Although results in our Power Generation business improved in the third quarter, global demand for power generation equipment remains weak. As a result we are considering certain actions to reduce our cost structure starting in the fourth quarter. The cost of the actions being considered could range from $15M-$40M."
07:31 EDTCMICummins reports Q3 EPS $2.32, consensus $2.28
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October 27, 2014
15:36 EDTCMINotable companies reporting before tomorrow's open
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14:12 EDTCMICummins downgraded to Peer Perform from Outperform at Wolfe Research
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07:30 EDTCMIInternational Economic Forum of the Americas to hold a forum
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October 23, 2014
18:34 EDTETNEaton contracted to provide MGM Resorts with power management solutions
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October 20, 2014
07:22 EDTETNSolar Energy Trade Shows to hold a conference
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