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June 6, 2014
06:40 EDTETN, MTOREaton trial leverage 'significantly eroded,' says JPMorgan
JPMorgan says Eaton's (ETN) leverage at trial in the company's case against Meritor (MTOR) has been "significantly eroded" after a judge denied its motion to reduce damages. The firm believes a settlement could be reached before the June 23 trial date, and that a resolution of the lawsuit would remove an overhang from the stock. JPMorgan reiterates an Overweight rating on Eaton with an $85 price target.
News For ETN;MTOR From The Last 14 Days
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January 30, 2015
11:07 EDTMTORMeritor to host analyst day
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January 29, 2015
06:57 EDTMTORMeritor sell-off on customer in-sourcing concerns overdone, says Barclays
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January 28, 2015
08:05 EDTMTORMeritor backs FY15 adjusted EPS $1.20-$1.30, consensus $1.35
Cuts FY15 revenue to $3.7B from $3.8B, consensus $3.83B; Backs FY15 free cash flow to be approximately $100M. Raises FY15 adjusted EBITDA margin to be approximately 9% from 8.8%-9%. Backs FY15 CapEx $80M-$90M; Backs FY15 effective income tax of approximately 20%.
08:04 EDTMTORMeritor reports Q1 Commercial Truck & Industrial sales $703M
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08:03 EDTMTORMeritor reports Q1 adjusted EPS 35c, consensus 27c
Reports Q1 revenue $879M, consensus $906.81M; The sales decrease was primarily driven by lower commercial truck production and unfavorable exchange rates in Europe and South America, as well as lower revenue from Meritor's defense business. This impact was partially offset by higher sales in North America as the Class 8 truck market continued to strengthen.
January 22, 2015
10:03 EDTETNOn the Fly: Analyst Initiation Summary
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January 21, 2015
16:13 EDTETNEaton initiated with a Buy at UBS
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