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June 26, 2014
12:26 EDTSHW, RPM, FUL, VALH.B. Fuller falls after cutting full year profit outlook
Shares of H.B. Fuller (FUL), which manufactures adhesives, sealants and other specialty chemical products, are falling after the company cut its fiscal 2014 earnings per share outlook. WHAT'S NEW: Last night, H.B. Fuller reported second quarter adjusted EPS of 78c and revenue of $544M, compared to analysts' consensus estimates of 78c and $545.18M, respectively. WHAT'S NOTABLE: The company cut its FY14 EPS view to $2.80-$2.95 from $3.00-$3.15, versus consensus of $3.07. It said the downward revision reflects the expected delay in realizing margin improvement following the completion of the business integration project in Europe. The company is also adjusting its guidance for core income tax rate, which excludes discrete items, to 29% for the full year, down from its previous guidance of 30%. On its earnings conference call, H.B. Fuller said FY14 revenue growth was expected to be at the low end of its long-term range, compared to consensus of $2.14B. It also said margin expansion will be delayed this year. Management said Q2 ended with "good momentum" that should carry the company through the rest of the year. They now expect to exit the year slightly behind their 14% EBITDA margin target, and anticipate that all project one related impacts that the company experienced will be resolved. They expect inventory balance to return to more normal levels by the end of this fiscal year, and CapEx levels are expected to drop in the second half. PRICE ACTION: In early afternoon trading, H.B. Fuller fell $3.07, or about 6.1%, to $47.18 on heavy trading volume. Despite today's pull back, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the sealants and chemicals space include Sherwin-Williams (SHW), The Valspar Corporation (VAL), and RPM International (RPM).
News For FUL;SHW;VAL;RPM From The Last 14 Days
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November 25, 2015
10:04 EDTVALOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Neutral from Overweight at JPMorgan... Anglo American (AAUKY) downgraded to Reduce from Hold at HSBC... Boulder Brands (BDBD) downgraded to Market Perform from Outperform at William Blair... Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus... HP Inc. (HPQ) downgraded to Hold from Buy at Needham... PTC Therapeutics (PTCT) downgraded to Underperform from Hold at Jefferies... SunEdison (SUNE) downgraded to Sell from Neutral at UBS... TerraForm Power (TERP) downgraded to Sell from Neutral at UBS... Tiffany (TIF) downgraded to Neutral from Buy at Monness Crespi... Valspar (VAL) downgraded on negative catalysts at RBC Capital... eBay (EBAY) downgraded to Buy from Conviction Buy at Goldman.
08:07 EDTVALValspar downgraded on negative catalysts at RBC Capital
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06:31 EDTVALValspar downgraded to Underperform from Sector Perform at RBC Capital
05:40 EDTVALValspar downgraded to Neutral from Overweight at JPMorgan
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November 24, 2015
09:57 EDTVALValspar approves 10% dividend increase to 33c
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07:32 EDTVALValspar sees FY16 adjusted EPS $4.80-$5.00, consensus $5.09
The company is providing initial guidance for fiscal 2016, which includes sales growth in the "mid-single digits" in constant currency. Sales including the estimated impact of foreign currency translation expected to be "up slightly" compared to fiscal 2015. The company expects annual Fiscal 2016 diluted EPS of $4.80 to $5.00. This guidance range includes a 20 cent unfavorable impact from foreign currency translation. Annual Fiscal 2016 diluted EPS guidance reflects growth of 8% to 13% in constant currency.
07:31 EDTVALValspar reports Q4 adjusted EPS $1.35, consensus $1.31
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November 23, 2015
15:28 EDTVALNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
November 13, 2015
08:23 EDTFULSeaport Global to hold a conference
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08:12 EDTVALGladstone signs two industrial lease renewals
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