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News Breaks
April 11, 2014
11:47 EDTGWW, FAST, 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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March 4, 2015
09:20 EDTFASTFastenal February sales missed low expectations, says Credit Suisse
Credit Suisse noted that Fastenal's February sales growth of 8.6% missed the firm's estimate of about 12% and confirm fears that January weakness was more than just an anomaly. The firm think's Fastenal's slowdown is greater than anticipated by the market despite expectations for the month being low and believes that a large part of Fastenal's marginal growth in 2014 came from oil and gas driven areas. Credit Suisse has a Neutral rating and $51 price target on Fastenal shares.
09:08 EDTFASTOn The Fly: Pre-market Movers
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08:06 EDTFASTFastenal sales growth lower than expected in February, says Wells Fargo
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07:55 EDTFASTFastenal reports February sales up 8.6% to $298.19M
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05:58 EDTFASTStocks with implied volatility movement; OREX FAST
Stocks with implied volatility movement; Orexigen (OREX) 105, Fastenal (FAST) 29 according to iVolatility.
February 27, 2015
21:16 EDTFASTFastenal management to meet with William Blair
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February 25, 2015
10:12 EDTHDSHigh option volume stocks
High option volume stocks: WBAI HDS ICON NWBO RGR GFI RKT TJX RSG LC
February 23, 2015
14:05 EDTHDSEarnings Preview: Home Depot shares up over 14% since last earnings report
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