New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 11, 2014
11:15 EDTFAST, GWW, 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
Check below for free stories on FAST;GWW;HDS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 12, 2014
08:42 EDTHDSHD Supply 20M share Spot Secondary priced at $27.65
Subscribe for More Information
08:23 EDTGWWGrainger says September sales-to-date 'running in line' with August growth
Subscribe for More Information
08:02 EDTGWWGrainger reports August daily sales up 7%
Subscribe for More Information
September 11, 2014
16:30 EDTHDSHD Supply announces sale of 20M shares of common stock by holders
Subscribe for More Information
16:14 EDTHDSHD Supply files to offer common stock, no amount given
Subscribe for More Information
08:46 EDTFASTFastenal initiated with a Neutral at Northcoast
September 9, 2014
09:12 EDTHDSOn The Fly: Pre-market Movers
Subscribe for More Information
08:07 EDTHDSHD Supply receives Civil Investigative Demand in disadvantaged business probe
Subscribe for More Information
06:03 EDTHDSHD Supply reports August preliminary sales $785M
Preliminary August year-over-year average daily sales growth by business is Facilities Maintenance 9.2 percent, Waterworks 10.2%, Power Solutions 7.4%, and Construction & Industrial White Cap 16.8%.
06:02 EDTHDSHD Supply sees Q3 adjusted EPS 48c-55c, consensus 52c
Sees Q3 revenue $2.43B-$2.5B, consensus $2.45B
06:01 EDTHDSHD Supply reports Q2 adjusted EPS 51c, consensus 47c
Subscribe for More Information
September 8, 2014
15:27 EDTHDSNotable companies reporting before tomorrow's open
Subscribe for More Information
September 4, 2014
08:01 EDTGWWGrainger management to meet with UBS
Subscribe for More Information
07:39 EDTFASTFastenal reports August sales up 9.8% to $326.9M
Subscribe for More Information
September 2, 2014
07:33 EDTGWWGrainger management to meet with UBS
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use