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Stock Market & Financial Investment News

News Breaks
July 21, 2014
07:46 EDTGWWAcklands-Grainger agrees to acquire WFS Enterprises
Acklands-Grainger announced its agreement to acquire WFS Enterprises, a distributor of tools and supplies to industrial markets in Southern Ontario and select U.S. locations. The acquisition is expected to be accretive in the first calendar year of operations. Terms of the transaction were not disclosed. WFS employs approximately 275 people and has 12 locations including 10 branches in Southwest Ontario, and two locations in the U.S., in Michigan and South Carolina. WFS had 2013 sales of approximately $87M. Subject to regulatory approval and certain customary closing conditions, this transaction is expected to close in the third quarter of 2014.
News For GWW From The Last 14 Days
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March 25, 2015
10:00 EDTGWWOn The Fly: Analyst Upgrade Summary
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09:10 EDTGWWGrainger upgraded to Buy from Hold at Gabelli
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March 23, 2015
10:00 EDTGWWOn The Fly: Analyst Downgrade Summary
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06:03 EDTGWWU.S. Multi-Industry sector downgraded to Neutral at Barclays
Barclays downgraded the U.S. Multi-Industry space to Neutral from Overweight saying rising headwinds could limit share upside to mid-single-digit levels in 2015, with only slight improvement in 2016. The firm believes the credit cycle is peaking and views the U.S. Dollar strength along with lower oil prices as headwinds. Concurrent with sector rating change, Barclays downgraded Dover (DOV), Grainger (GWW), Xylem (XYL) and WESCO (WCC) to Equal Weight from Overweight. It also upgraded Tyco (TYC) to Overweight from Equal Weight and Lennox (LII) to Equal Weight from Underweight, calling both defensive names in the space. The firm is also "comfortable" owning General Electric (GE), Honeywell (HON), Sensata (ST) and HD Supply (HDS) at current levels. It prefers waiting for pullbacks to buy shares of 3M (MMM).
05:47 EDTGWWGrainger downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Grainger to Equal Weight after cutting its rating on the U.S. Industrial space to Neutral from Positive. The firm believes cycle risks could limit stock returns to mid-single-digit levels in 2015, with only a slight pickup in 2016. It dropped its price target for Grainger shares to $237 from $254.

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