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Stock Market & Financial Investment News

News Breaks
December 26, 2012
17:24 EDTGWWGrainger confirms settlement of government contract dispute
Grainger announced it has settled its long-standing contract dispute with the federal government. As announced October 16, the discrepancy centered on disclosure language in the General Services Administration and United States Postal Service contracts, which were implemented more than 10 years ago. Grainger maintains it complied with the disclosure requirements and the contracts in all material respects, and the settlement does not contain any admission of wrongdoing by the company. The GSA and USPS remain long-standing and important Grainger customers. These contracts account for a portion of the company's overall government business, which represented 17% of its total U.S. 2011 revenue. As Grainger disclosed in October, it recorded a $70M pre-tax reserve for this settlement and established a separate pre-tax reserve to resolve tax, freight and miscellaneous billing issues with these two government customers.
News For GWW From The Last 14 Days
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July 17, 2015
08:03 EDTGWWGrainger reports Q2 adjusted EPS $3.27, consensus $3.05
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07:33 EDTGWWGrainger says Q2 included charges of $2M related to restructuring at Fabory
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07:33 EDTGWWGrainger cites difficult economic environment, continued sales softness
07:32 EDTGWWGrainger cuts FY15 EPS to $12.00-$12.50 from $12.25-$12.95, consensus $12.35
Cuts FY15 revenue growth to flat to 2% growth from 1%-4% growth.
July 16, 2015
15:02 EDTGWWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include General Electric (GE), consensus 28c... Honeywell (HON), consensus $1.49... Synchrony Financial (SYF), consensus 62c... SunTrust Banks (STI), consensus 81c... Progressive (PGR), consensus 55c... W.W. Grainger (GWW), consensus $3.05... Kansas City Southern (KSU), consensus $1.02... JB Hunt Transport (JBHT), consensus 90c... Autoliv (ALV), consensus $1.55... Comerica (CMA), consensus 75c... First Horizon (FHN), consensus 20c.
July 14, 2015
16:31 EDTGWWGrainger detects cybersecurity incident
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14:10 EDTGWWIndustrial supply stocks fall after peer Fastenal reports Q2 results
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