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Stock Market & Financial Investment News

News Breaks
April 11, 2014
11:47 EDTFAST, HDS, GWWFastenal 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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March 29, 2015
17:50 EDTHDSHD Supply could gain over 30%, Barron's says
HD Supply shares could climb over 30% in a year as headwinds decrease, Barron's contends in a feature article. Reference Link
March 26, 2015
17:26 EDTFASTFastenal authorizes 4M share repurchase program
Fastenal disclosed in a filing that on March 26, The Fastenal Company board of directors authorized purchases by the company of up to 4,000,000 shares of its common stock. All prior authorizations have been exhausted.
March 25, 2015
10:00 EDTGWWOn The Fly: Analyst Upgrade Summary
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09:10 EDTGWWGrainger upgraded to Buy from Hold at Gabelli
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March 24, 2015
06:08 EDTHDSHD Supply sees Q1 adj. EPS 25c-31c, consensus 33c
Sees Q1 net sales $2.175B-$2,230, adjusted EBITDA $195M-$207M. Q1 Adjusted net income per diluted share range assumes a fully diluted weighted average share count of 201M.
06:06 EDTHDSHD Supply sees FY15 sales up 300 point basis
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06:03 EDTHDSHD Supply reports Q4 EPS 11c, consensus 10c
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March 23, 2015
15:24 EDTHDSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include McCormick (MKC), consensus 64c... IHS Inc. (IHS), consensus $1.36... HD Supply (HDS), consensus 10c... G-III Apparel (GIII), consensus 83c.
10:00 EDTGWW, HDSOn The Fly: Analyst Downgrade Summary
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09:02 EDTHDSHD Supply downgraded at Raymond James
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06:51 EDTHDSHD Supply downgraded to Market Perform from Outperform at Raymond James
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06:03 EDTHDS, GWWU.S. Multi-Industry sector downgraded to Neutral at Barclays
Barclays downgraded the U.S. Multi-Industry space to Neutral from Overweight saying rising headwinds could limit share upside to mid-single-digit levels in 2015, with only slight improvement in 2016. The firm believes the credit cycle is peaking and views the U.S. Dollar strength along with lower oil prices as headwinds. Concurrent with sector rating change, Barclays downgraded Dover (DOV), Grainger (GWW), Xylem (XYL) and WESCO (WCC) to Equal Weight from Overweight. It also upgraded Tyco (TYC) to Overweight from Equal Weight and Lennox (LII) to Equal Weight from Underweight, calling both defensive names in the space. The firm is also "comfortable" owning General Electric (GE), Honeywell (HON), Sensata (ST) and HD Supply (HDS) at current levels. It prefers waiting for pullbacks to buy shares of 3M (MMM).
05:47 EDTGWWGrainger downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Grainger to Equal Weight after cutting its rating on the U.S. Industrial space to Neutral from Positive. The firm believes cycle risks could limit stock returns to mid-single-digit levels in 2015, with only a slight pickup in 2016. It dropped its price target for Grainger shares to $237 from $254.

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