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Stock Market & Financial Investment News

News Breaks
June 16, 2014
11:51 EDTGBX, TRNGreenbrier, Trinity advance after KeyBanc hikes price targets
Shares of railcar makers Greenbrier (GBX) and Trinity Industries (TRN) are climbing after KeyBanc increased its price targets on the names in a note to investors earlier today. WHAT'S NEW: After analyzing data from the railcar industry, KeyBanc is more confident that U.S. railcar sales will rise further. As a result, the firm believes that analysts' consensus estimates for both companies are set to increase. Among the factors foreshadowing strong railcar sales are decreased train speed, increased loadings of railcars, and a reduction in the number of railcars in storage, KeyBanc believes. Additionally, new regulations are likely to drive increased orders going forward, the firm predicted. It raised its price target on Greenbrier to $64 from $56 and on Trinity to $105 from $90. It reiterated Buy ratings on both names. PRICE ACTION: In late morning trading, Greenbrier climbed 1.5% to $57.80 and Trinity advanced 2% to $83.
News For GBX;TRN From The Last 14 Days
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July 30, 2014
11:16 EDTTRNTrinity Industries sees demand increasing due to new regulations
Comment made on Q2 results conference call.
July 29, 2014
18:35 EDTTRNOn The Fly: After Hours Movers
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16:32 EDTTRNTrinity Industries raises 2014 EPS outlook to $3.90-$4.10 from $3.50-$3.75
Consensus $3.76.
16:31 EDTTRNTrinity Industries reports Q2 EPS $1.01, consensus 77c
Reports Q2 revenue $1.5BM, consensus $1.35B. The company said, "Consolidated revenues increased 39% year-over-year and net earnings nearly doubled, outpacing revenue growth by a wide margin. The amount of operating leverage we obtained and the record $6.5 billion backlog in our major businesses at the end of the second quarter were impressive."
July 23, 2014
15:28 EDTGBXGreenbrier says prepared for tank-car retrofits required by DoT
The Greenbrier Companies responded to the U.S. Department of Transportation's proposed rulemaking on the safe movement of flammable liquids by rail, including crude oil and ethanol. While Greenbrier is examining the details of the proposed rulemaking and will provide full comments at a later date, Jack Isselmann, VP External Affairs and Communications today made the following statement: "Greenbrier is pleased that Secretary Foxx recognizes the urgency of completing this rulemaking and we commend his stated intention to issue a rule in the next 60 days. A final rule will provide the clarity the industry needs to make investments that ensure that crude oil and other flammable commodities are classified properly and transported in tank cars that are safer at any speed. We are also gratified that two of the three alternate new design standards proposed by the Department call for a 9/16-inch thick steel shell, a safety feature that Greenbrier has consistently championed with our next generation 'Tank Car of the Future' design. This design can better withstand the additional demands associated with operating unit trains like the high-hazard flammable trains identified today by the Department. A two-year timetable for phasing out the use of older DOT-111 cars in the most hazardous flammable service is aggressive, but can be achieved through a combination of increased new tank car production and appropriate retrofit packages for tank cars that meet a more robust safety standard. Greenbrier is prepared to meet the need for tank car retrofits with our newly-launched joint venture for railcar repair and retrofitting, GBW Railcar Services."
11:18 EDTGBX, TRNDoT proposes phase out of older DOT 111 tank cars for certain flammable liquids
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