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Stock Market & Financial Investment News

News Breaks
July 11, 2014
11:15 EDTGWW, FAST, HDSFastenal tumbles after reporting earnings, announcing store closures
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported plans to close 45 stores in its second quarter earnings release. WHAT'S NEW: Fastenal's Q2 earnings per share of 44c matched analysts' consensus estimate, while its revenue of $949.94M narrowly missed analysts' consensus of $952.45M. The company said, "Our growth in net sales was impacted by slight inflationary price changes in our non-fastener products and some price deflation in our fastener products, but the net impact was a drag on growth." WHAT'S NOTABLE: During the company's earnings conference call, Fastenal announced plans to close 45 stores in the second half of this year. The company feels "very good" with what it has done in terms of sales so far this year and believes vending opportunity will be a "big part" of the company's future. Fastenal says that it has very good sales momentum and has "great momentum" overall for the company going into the back half of the year. The company says it will to continue to work hard on its margins and hopes to structurally improve them. Overall, Fastenal said that there is "plenty of room" for the company to improve gross margins over time. The retailer aims to continue to invest heavily in distribution infrastructure and vending. During 2013 and 1H14, Fastenal incurred some short-term debt to fund CapEx and dividends. This was expected and is expected to continue throughout the remainder of FY14 and possibly FY15. 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 $2.16, or $4.5%, to $45.99. Shares of W.W. Grainger and HD Supply are down 1.7% and 0.9%, respectively.
News For FAST;GWW;HDS From The Last 14 Days
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December 12, 2014
16:31 EDTGWWGrainger to withdraw Chicago stock exchange listing, retain NYSE listing
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10:01 EDTFAST, GWWOn The Fly: Analyst Initiation Summary
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08:00 EDTGWWGrainger reports November daily sales up 8%
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07:11 EDTGWWGrainger initiated with a Buy at Stifel
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07:11 EDTFASTFastenal initiated with a Buy at Stifel
Target $56.
December 11, 2014
09:16 EDTHDSOn The Fly: Pre-market Movers
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08:06 EDTHDSHD Supply 40.66M share Block Trade priced at $27.30
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December 10, 2014
16:35 EDTHDSHD Supply files to sell 40.66M shares of common stock for holders
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December 9, 2014
06:06 EDTHDSHD Supply backs FY14 estimated end market growth of 4%
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06:05 EDTHDSHD Supply sees Q4 adjusted EPS 7c-12c, consensus 13c
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06:04 EDTHDSHD Supply reports November preliminary sales $668M
Preliminary November year-over-year average daily sales growth by business is Facilities Maintenance 7.5%, Waterworks 7.4%, Power Solutions (0.7%) , and Construction & Industrial White Cap 16.2%.
06:04 EDTHDSHD Supply reports August sales $785M, September sales $750M
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06:03 EDTHDSHD Supply reports Q3 Waterworks sales up 19% to $695M
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06:02 EDTHDSHD Supply reports Q3 adjusted EBITDA up 17% to $265M
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06:02 EDTHDSHD Supply reports Q3 adjusted EPS 55c, consensus 53c
Reports Q3 revenue $2.49B, consensus $2.47B
December 8, 2014
15:20 EDTHDSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include AutoZone(AZO), consensus $7.16; HD Supply (HDS), consensus 53c; Burlington Stores (BURL), consensus 12c; Science Applications International (SAIC), consensus 74c; UTi Worldwide (UTIW), consensus 6c; The Pantry (PTRY), consensus 46c; Pep Boys (PBY), consensus 12c.

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