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Stock Market & Financial Investment News

News Breaks
April 11, 2014
11:47 EDTFAST, GWW, HDSFastenal slips despite better than expected Q1 sales
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported first quarter earnings per share which matched analysts' consensus and first quarter revenue that surpassed analysts' expectations. WHAT'S NEW: Fastenal's first quarter earnings per share of 38c mirrored analysts' consensus, while its revenue of $876.5M beat analysts' consensus of about $870M. Fastenal said that first quarter daily sales increased 8.7%. WHAT'S NOTABLE: During the company's earnings conference call, Fastenal said its business in January and February were "heavily" impacted by the winter weather. The company said it took a step back in the first quarter, but is very focused on 23% pre-tax growth. Fastenal said heavy equipment was very challenging for the company through FY13, though it is now seeing some nominal improvement in that business. If the situation is right, the company said it is open to future M&A opportunities. OTHERS TO WATCH: Other industrial products distributors include W.W. Grainger (GWW) and HD Supply (HDS). PRICE ACTION: During morning trading, shares of Fastenal slipped 95c or $1.87% to $49.75. Year-to-date, the stock is up a bit more than 4%.
News For FAST;GWW;HDS From The Last 14 Days
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July 21, 2014
07:46 EDTGWWAcklands-Grainger agrees to acquire WFS Enterprises
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July 18, 2014
11:25 EDTFASTOptions with decreasing implied volatility
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July 17, 2014
07:34 EDTGWWGrainger narrows FY14 EPS to $12.20-$12.60 from $12.10-$12.85, consensus $12.60
Cuts high-end of FY14 revenue guidance to 5%-7% growth from 5%-9% growth, consensus $10.08B
07:34 EDTGWWGrainger 'pleased' with U.S. business, Canada was challenging
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07:34 EDTGWWGrainger reports Q2 adjusted EPS $3.09, consensus $3.09
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July 16, 2014
10:35 EDTFASTOptions with decreasing implied volatility
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July 15, 2014
10:37 EDTFASTOptions with decreasing implied volatility
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July 14, 2014
10:00 EDTFASTOptions with decreasing implied volatility: SHPG INFY CWH FDO IDIX FAST
July 11, 2014
16:22 EDTFASTOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
11:15 EDTGWW, HDS, FASTFastenal tumbles after reporting earnings, announcing store closures
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10:42 EDTFASTFastenal hopes to structurally improve gross margins
Says there is "plenty of room" for the company to improve gross margins over time.
10:16 EDTFASTFastenal to close 45 stores in 2H14
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09:09 EDTFASTOn The Fly: Pre-market Movers
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08:48 EDTFASTFastenal slips after results, levels to watch
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06:54 EDTFASTFastenal reports Q2 EPS 44c, consensus 44c
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July 10, 2014
15:13 EDTFASTNotable companies reporting before tomorrow's open
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