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Stock Market & Financial Investment News

News Breaks
January 16, 2013
19:47 EDTFULH.B. Fuller reports Q4 adjusted diluted EPS 64c, consensus 56c
Reports Q4 revenue $513.3M, consensus $517.45M.
News For FUL From The Last 14 Days
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September 29, 2014
05:41 EDTFULAvery Dennison downgraded to Neutral from Overweight at JPMorgan
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September 26, 2014
10:01 EDTFULOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
05:48 EDTFULH.B. Fuller downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded H.B. Fuller to Neutral citing weaker than expected organic growth and the pushout of 2015 targets to 2016 following the company's Q3 results. Piper lowered its price target for shares to $42 from $54.
September 25, 2014
16:17 EDTFULOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower and suffered their worst day in nearly two months, with market participants pointing to a number of reasons for the broad-based weakness. Shares of Apple (AAPL) were a drag on the market, and particularly on the Nasdaq, as the tech giant slid after a number of reports pointed to customer issues with its new iPhone 6 and an update to its mobile operating system. Cautious comments about rates by a noted Federal Reserve "hawk" may have also contributed, as well as reports that Russia may respond to U.S. and EU sanctions with a new law that will allow it to seize foreign property within the country. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 12K to 293K in the week ended September 20, though this was below the consensus forecast for 296K new claims. Durable goods orders fell 18.2% in August following a 22.5% surge in July. However, excluding transportation, orders were up 0.7%, which was a bit above the forecast for a 0.6% increase. Additionally, the head of the Dallas Federal Reserve, Richard Fisher, said that the central bank may start raising rates in the spring of 2015, which is earlier than most market watchers expect. Also, a Reuters report that Russia has drafted a law that would allow it to seize foreign assets on Russian territory to compensate those impacted by sanctions or who have had their own property seized outside of Russia garnered significant attention. COMPANY NEWS: Apple declined $3.88, or 3.81%, to $97.87 after reports yesterday from various tech blogs said the company pulled a new update of iOS 8 after complaints that the new software was crashing cellular service and Touch ID on users' phones. Other reports indicate the new iPhone 6 is reportedly bending in some owners' pockets, though the company told CNBC's John Fortt that it has only received nine customer complaints regarding bent phones. Also, Barron's reported that Apple insiders, including CEO Tim Cook, have sold over 1.4M shares of Apple stock this month. MAJOR MOVERS: Among the notable gainers was Swift Transport (SWFT), which gained $1.83, or 9.56%, to $20.98 after the company backed its Q3 earnings outlook and said it was "cautiously optimistic" about the trends it has seen as a result of its strategic decision regarding driver compensation. Also higher was IGI Laboratories (IG), which rose $1.36, or 18.26%, to $8.81 after the company acquired the regulatory rights and related documents and records for 18 drug products from AstraZeneca (AZN). Among the noteworthy losers was BlackBerry (BBRY), which fell 71c, or 6.76%, to $9.80 the day before it reports on its quarterly results. Ahead of tomorrow morning's report, BGC Financial analyst Colin Gillis downgraded shares of the smartphone maker to Hold from Buy, saying the company's results "may prove underwhelming." Also lower were shares of adhesives maker H.B. Fuller (FUL), which fell $6.30, or 14.32%, to $37.68 after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. INDEXES: The Dow plunged 264.26, or 1.54%, to 16,945.80, the Nasdaq dropped 88.47, or 1.94%, to 4,466.75, and the S&P 500 declined 32.31, or 1.62%, to 1,965.99.
12:17 EDTFULH.B. Fuller plummets to 52-week low after results, outlook trail estimates
Shares of H.B. Fuller (FUL), which manufactures adhesives, sealants and other specialty chemical products, are sinking after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. WHAT'S NEW: Last night, H.B. Fuller reported Q3 adjusted earnings per share of 42c and revenue of $526.8M, significantly trailing analysts' consensus estimates of 76c and $539.54M, respectively. The company forecast Q4 adjusted EPS of 60c-70c, far below the consensus of 85c. H.B. Fuller increased its fiscal year 2014 CapEx view to $135M from $105M. WHAT'S NOTABLE: H.B. Fuller CEO Jim Owens said, "The delayed and costly execution of our SAP project in North America and European business integration project led to disappointing and unacceptable results this quarter. We took decisive actions to accelerate the completion of our major projects and move to normal operating conditions. More work is to be done in the fourth quarter, but we expect our intensified focus on completing these projects will lead to improved operating performance in the fourth quarter and pave the way for a strong 2015, putting us back on track to achieve our long term goals of 15% EBITDA margin and solid organic growth." On its conference call, management confirmed the 15% EBITDA margin goal, but said it will be delayed at least one year. They expect "significant" improvements in Q4, and FY15, and noted that recent challenges have been project related and can easily be fixed. They expect to launch the Latin America business in mid-2015. PRICE ACTION: In early afternoon trading, H.B. Fuller fell $5.44, or about 12.37%, to $38.54 on over seven times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $36.92. Including today's pull-back, the shares have lost almost 5% 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).
12:17 EDTFULOn The Fly: Midday Wrap
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11:11 EDTFULH.B. Fuller ups FY14 CapEx view to $135M from $105M
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10:56 EDTFULH.B. Fuller 'confident' in long-term targets
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10:36 EDTFULH.B. Fuller sees 'significant' improvements in Q4, FY15
Says 15% EBITDA margin is "confirmed" but delayed. Says 15% EBITDA margin delayed by at least 1 year. Comments made during the company's Q3 earnings conference call.
09:42 EDTFULH.B. Fuller tumbles, levels to watch
The company reported earnings last night with Q4 EPS guidance of 60 cents to 70 cents versus consensus of 85 cents. Shares are down 14% to $37.80. At that price, next support is at $36.89 which is the session low and fresh 52-week low. Resistance is at $38.96.
09:13 EDTFULOn The Fly: Pre-market Movers
HIGHER: LipoScience (LPDX), up 63% after agreeing to be acquired by LabCorp (LH) for $5.25 per share in cash... Magnum Hunter (MHR), up 12.5% after announcing that throughput volumes on Eureka Hunter's gas gathering pipeline system have increased to about 316,500 MMBtu per day... Jabil Circuit (JBL), up 4.7% following its report of better than expected fourth EPS and revenue... JD.com (JD), up 0.7% after the stock was initiated with an Outperform rating at Macquarie. LOWER: Yahoo (YHOO), down 0.6% after RBC Capital downgraded its rating on the stock to Sector Perform from Outperform, saying the risk/reward is less attractive following Alibaba's (BABA) initial public offering... HB Fuller (FUL), down 15% after reporting quarterly results and guidance that missed analyst estimates... Omnova Solutions (OMN), down 10.8% after its Q3 adjusted EPS missed expectations... Pacira Pharmaceuticals (PCRX), down 9.2% after receiving an FDA warning letter over certain promotional materials on Exparel.
September 24, 2014
18:19 EDTFULOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jabil Circuit (JBL), up 3.8% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: Rexahn Pharmaceuticals (RNN), up 11.8% after announcing that the FDA has granted Orphan Drug Designation for its drug RX-3117 for the treatment of patients with pancreatic cancer... xG Technology (XGTI), up 7.8% after announcing stock purchase agreements for up to $16M... Marchex (MCHX), up 2.1% after receiving notice of termination from Allstate (ALL). DOWN AFTER EARNINGS: HB Fuller (FUL), down 11.3% after reporting second quarter results and guidance below analyst estimates.
17:27 EDTFULH.B. Fuller sees Q4 adjusted EPS 60c-70c, consensus 85c
The company expects its Q4 core tax rate to increase to 32% from 29%. The company expects FY14 capital expenditure of $135M.
17:25 EDTFULH.B. Fuller reports Q3 adjusted EPS 42c, may not compare to consensus 76c
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15:19 EDTFULNotable companies reporting after market close
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September 23, 2014
15:27 EDTFULNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Bed Bath & Beyond (BBBY), consensus $1.14; Copart (CPRT), consensus 41c; HB Fuller (FUL), consensus 76c; Steelcase (SCS), consensus 23c; AAR Corp. (AIR), consensus 38c; Overland Storage (OVRL), one estimate (33c).

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