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Stock Market & Financial Investment News

News Breaks
December 4, 2013
07:43 EDTHDSHD Supply consensus estimates remain too high, says William Blair
William Blair believes consensus estimates for HD Supply remain too high for Q4 and possibly 2014. The firm thinks HD's Q3 sales trends are already tracking at the low end of guidance and that Street estimates are not factoring in growth deceleration in the company's high]margin facilities maintenance business. William Blair keeps an Outperform rating on HD Supply, however, saying current shares owners have likely already recalibrated numbers lower, and that new money is waiting for Street numbers to reset.
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April 11, 2014
11:47 EDTHDSFastenal slips despite better than expected Q1 sales
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported first quarter earnings per share which matched analysts' consensus and first quarter revenue that surpassed analysts' expectations. WHAT'S NEW: Fastenal's first quarter earnings per share of 38c mirrored analysts' consensus, while its revenue of $876.5M beat analysts' consensus of about $870M. Fastenal said that first quarter daily sales increased 8.7%. WHAT'S NOTABLE: During the company's earnings conference call, Fastenal said its business in January and February were "heavily" impacted by the winter weather. The company said it took a step back in the first quarter, but is very focused on 23% pre-tax growth. Fastenal said heavy equipment was very challenging for the company through FY13, though it is now seeing some nominal improvement in that business. If the situation is right, the company said it is open to future M&A opportunities. OTHERS TO WATCH: Other industrial products distributors include W.W. Grainger (GWW) and HD Supply (HDS). PRICE ACTION: During morning trading, shares of Fastenal slipped 95c or $1.87% to $49.75. Year-to-date, the stock is up a bit more than 4%.

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