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Stock Market & Financial Investment News

News Breaks
July 11, 2014
11:15 EDTFAST, HDS, GWWFastenal 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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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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February 18, 2015
07:07 EDTGWWBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
February 17, 2015
18:17 EDTHDSJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
10:29 EDTHDSJANA Partners reports 8.0% passive stake in HD Supply
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