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Stock Market & Financial Investment News

News Breaks
June 2, 2014
08:00 EDTMTOR, ETNEaton litigation with Meritor remains an overhang, says JPMorgan
JPMorgan says Eaton's (ETN) litigation with Meritor (MTOR) remains an overhang on the stock. The firm says visibility into the outcome should improve in the coming weeks as legal proceedings pick up. JPMorgan believes expectations have been reset for Eaton following the company's Q2 results and it reiterates an Overweight rating on the name with an $85 price target.
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August 25, 2014
08:32 EDTETNEaton shares de-risked at current levels, says KeyBanc
KeyBanc noted that Eaton's stock has dropped nearly 9% since July 29, and the firm expects the company's results to be boosted by strong non-residential construction fundamentals into 2015. The firm keeps an $88 price target and Buy rating on the shares.
August 21, 2014
09:07 EDTMTORMeritor in discussions to sell inventory, assets of its Mascot business
Meritor completed its strategic review of certain remanufacturing product lines within the aftermarket business in North America, and the board of the Company concluded that the company should exit the Mascot business. Mascot is a remanufacturer and distributor of differentials, transmissions and steering gears primarily for certain original equipment manufacturers. The company is in discussions to sell substantially all of its inventory and other assets of its Mascot business. In the event the company is unable to successfully execute a sale transaction, it intends to wind down the Mascot business. The company expects to incur losses on the sale or liquidation of assets of the Mascot business of approximately $24M. The Company also expects to incur severance, other employee costs, and contract termination costs related thereto of an additional $5M. Of these charges, an estimated $5M are expected to result in cash expenditures. The Company is targeting the end of the fourth quarter of fiscal year 2014 for the completion of a sale transaction or a wind down of the Mascot business.
07:18 EDTETNJuly Class 8 sales rose 16% year-over-year, says JPMorgan
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