New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 4, 2014
07:35 EDTFWLT, OCFoster Wheeler awarded EPCM contract for Owens Corning facility
Foster Wheeler AG (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management contract by Owens Corning (OC) for a new composite materials manufacturing facility at Gastonia, North Carolina. The plant will produce a paper-like glass-fiber tissue that is used in various industries to add strength to products while also reducing their weight. Foster Wheeler's contract value was not disclosed. The engineering, procurement and early construction work was included in the company’s 1Q14 bookings and the balance of the construction management scope is expected to be released later in 2014.
News For FWLT;OC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 23, 2014
10:01 EDTOCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Brean Capital... Angie's List (ANGI) downgraded to Hold from Buy at Needham... Avalon Rare Metals (AVL) downgraded to Neutral from Buy at Citigroup... Axiall (AXLL) downgraded at Cowen... BB&T (BBT) downgraded to Neutral from Buy at Goldman... Boeing (BA) downgraded at Credit Suisse... Boulder Brands (BDBD) downgraded to Hold from Buy at Canaccord... Citrix (CTXS) downgraded to Hold from Buy at Drexel Hamilton... ClickSoftware (CKSW) downgraded to Hold from Buy at Lake Street... DTS, Inc. (DTSI) downgraded to Underweight from Neutral at JPMorgan... GulfMark Offshore (GLF) downgraded to Market Perform from Outperform at Cowen... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Compass Point... ICON plc (ICLR) downgraded to Equal Weight from Overweight at First Analysis... IPC The Hospitalist Co. (IPCM) downgraded to Market Perform at Wells Fargo... Melco Crown (MPEL) downgraded to Neutral from Buy at Nomura... Mercer (MERC) downgraded at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Buy at BofA/Merrill... Owens Corning (OC) downgraded to Neutral from Overweight at JPMorgan... Regency Energy Partners (RGP) downgraded to Neutral from Buy at BofA/Merrill... The Medicines Co. (MDCO) downgraded to Neutral from Buy at BofA/Merrill... Tupperware Brands (TUP) downgraded to Neutral from Overweight at JPMorgan... Union Bankshares (UBSH) downgraded at RW Baird... VOC Energy Trust (VOC) downgraded at RBC Capital... Yelp (YELP) downgraded to Hold from Buy at Stifel.
05:49 EDTOCOwens Corning downgraded to Neutral from Overweight at JPMorgan
Subscribe for More Information
October 22, 2014
11:14 EDTOCHigh option volume stocks
Subscribe for More Information
07:34 EDTFWLTFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA for the Antwerp Northwest Europe Resid Upgrade Project, Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
07:30 EDTOCOwens Corning: Insulation business expected to return 50% operating leverage
Expects Insulation business to produce $100M or more EBIT in an environment of 1M US housing starts. Expects Composites business 2014 EBIT improvement of about $40M, largely driven by higher pricing. Expects Roofing business to be down in 2H14 and FY14 from prior year, with operating margins to be below guidance of average operating margins of mid-teens or higher. Corporate expenses in FY14 is expected to be $80M. Sees FY14 CapEx $370M. Sees FY14 adjusted effective tax rate of 28%-30%. The company had previously guided that it expected full-year adjusted EBIT to grow versus 2013. Continued weakness of roofing market shipments in the second half creates $15 million of downside risk versus last year's adjusted EBIT performance of $416 million.
07:29 EDTOCOwens Corning reports Q3 adjusted EPS 63c, consensus 49c
Subscribe for More Information
October 20, 2014
07:19 EDTOCOwens Corning downgraded at Wedbush
As previously reported, Wedbush downgraded Owens Corning to Neutral from Outperform. The firm downgraded shares based on continued pricing and margin pressures following a competitor dropping prices and a more challenging roofing environment. Price target lowered to $35 from $43.
07:14 EDTOCOwens Corning downgraded to Neutral from Outperform at Wedbush
October 14, 2014
07:31 EDTFWLTFoster Wheeler awarded contract from PEMEX
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PEMEX REFINACIÓN for an ultra-low sulfur diesel project at the Salina Cruz refinery, Oaxaca, Mexico. Foster Wheeler’s scope of work, which also includes start-up and testing, is scheduled to be completed in 2018. The Foster Wheeler contract value was not disclosed. The initial release of work, relating to detailed design and the procurement of long-lead items, will be included in the company’s Q3 bookings. The balance of the agreed workscope is expected to be released in FY15. The investment in the Salina Cruz refinery, in excess of $500M, is part of a clean fuels program being implemented by PEMEX as a result of the country’s recent Energy Reform. The objective of the program is to significantly reduce the sulfur content of diesel produced from 500 to 15 parts per million.

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

I agree to the theflyonthewall.com disclaimer & terms of use