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Stock Market & Financial Investment News

News Breaks
June 18, 2014
16:55 EDTETN, TGIEaton, Triumph Group announce settlement
Power management company Eaton Corporation (ETN) announced Eaton and Triumph Group (TGI) have signed an agreement that completely resolves all litigation issues between them with respect to actions pending in Mississippi and North Carolina. The parties have agreed that Eaton will pay $147.5M as part of the settlement. Other settlement terms are confidential. Eaton filed suit in 2004 in Mississippi against Frisby Aerospace, now a Triumph Group subsidiary known as Triumph Actuation Systems - Clemmons, LLC, alleging trade secret misappropriation. North Carolina-based Frisby Aerospace denied the charges and later filed suit against Eaton in North Carolina and Mississippi, alleging anticompetitive behavior. “We believe it is in the best interests of our shareholders to put this matter behind us,” said Alexander M. Cutler, chairman and CEO of Eaton. “We have been pursuing the return of our information and documents for ten years, and we are pleased the information and documents will be returned as part of the settlement. Both parties are best served by a permanent resolution of the matter.”
News For ETN;TGI From The Last 14 Days
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July 30, 2014
18:04 EDTTGITriumph Group backs FY15 adjusted EPS view $5.75-$5.90, consensus $5.84
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18:01 EDTTGITriumph Group reports Q1 adjusted EPS $1.19, consensus $1.20
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10:00 EDTETNOn The Fly: Analyst Downgrade Summary
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09:03 EDTETNEaton shares attractive at current levels, says Wells Fargo
After Eaton announced that it could not spin off any businesses for at least five years without triggering tax consequences and the company cut its guidance due to subdued margins, Wells Fargo thinks the stock can advance from current levels. The firm expects the company to benefit from improving market demand in NAFTA truck and good year-over-year order growth in Electrical Products, ES&S and Aerospace. The firm expects the company's trends to rebound in 2015 and reiterates an Outperform rating.
07:12 EDTETNEaton downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Eaton to Hold with a $77 price target after the company lowered its 2014 outlook. Shares were also downgraded this morning at Goldman Sachs and JPMorgan.
05:37 EDTETNEaton downgraded to Neutral from Overweight at JPMorgan
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05:22 EDTETNEaton downgraded to Neutral from Buy at Goldman
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July 29, 2014
11:48 EDTETNEaton spin-off comments likely removes share support, says Wells Fargo
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06:38 EDTETNEaton reports Q2 Electric Products sales up 4% to $1.8B, bookings up 6%
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06:36 EDTETNEaton cuts FY14 EPS to $4.50-$4.70 from $4.50-$4.90, consensus $4.74
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06:35 EDTETNEaton sees Q3 operating EPS $1.20-$1.30, consensus $1.33
06:35 EDTETNEaton reports Q2 operating EPS $1.11, consensus $1.14
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July 25, 2014
05:20 EDTETNEaton, Shaanxi Fast Gear announce JV agreement
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July 18, 2014
16:46 EDTETNEaton narrows Q2 adjusted EPS view to $1.10-$1.12 from $1.05-$1.15
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July 16, 2014
13:06 EDTTGITriumph Group could rise 25%, Barron's reports
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