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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:54 EDTFULH.B. Fuller upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded H.B. Fuller to Buy following the post-earnings sell-off as it believes the European business issues are transitory. The firm raised its price target for shares to $54 from $53.
News For FUL From The Last 14 Days
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November 25, 2014
16:24 EDTFULH.B. Fuller approves exit plan related to organizational restructuring projects
H.B. Fuller disclosed in a regulatory filing that on November 19, H.B. Fuller Company approved a termination and exit plan related to organizational restructuring projects. In implementing the Plan, the company currently expects to incur exit costs of approximately $5.1M which includes (i) after-tax cash expenditures of approximately $3M for severance and related employee costs across all operating segments including Corporate headquarters, (ii) after-tax expenditures of approximately $0.5Mrelated to the optimization of production facilities in the Construction Products operating segment, and (iii) non-cash charges of approximately $0.2M related to accelerated depreciation of long-lived assets. The Plan will be implemented beginning in the fourth quarter of the current fiscal year and is currently expected to be completed by the end of fiscal 2015. The exit costs will be spread across the next several quarters as the measures are implemented with approximately $3.1M of the after-tax costs occurring in the fourth quarter of fiscal 2014 and approximately $0.6M of after-tax costs occurring in fiscal 2015. The exit costs associated with the Plan will be adjusted out of the company’s earnings per share for fiscal year 2014, therefore, the company’s previously announced adjusted diluted earnings per share guidance for fiscal year 2014 will not be impacted by these costs.

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