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January 28, 2013
07:07 EDTETH, OSK, SWK, UTX, UNP, DD, HONHousing recovery seen in corporate results, WSJ reports
The U.S. housing recovery is beginning to show up in corporate results. Companies that sell power tools, air conditioners, carpet fibers, furniture and cement mixers are reporting stronger sales for the fourth quarter, providing further evidence that a turnaround in the housing market is taking hold, reports the Wall Street Journal.Reference Link
News For HON;UTX;OSK;DD;SWK;ETH;UNP From The Last 14 Days
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October 5, 2015
05:46 EDTUNPNorfolk Southern downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Brandon Oglenski downgraded Norfolk Southern (NSX) to Underweight saying service challenges are driving competitive intermodal share loss to CSX (CSX). The analyst also highlighted fuel revenue and coal headwinds. He cut his price target for shares to $76 from $91. The freight railroad owner closed Friday up $1.68 to $79.01. Oglenski also downgraded this morning shares of Union Pacific (UNP) to Equal Weight.
October 4, 2015
15:04 EDTOSKThales in talks to provide light armored vehicles for Australia, WSJ says
Australia is in advanced talks to purchase a number of Hawkei light armored vehicles from French defense firm Thales, reports the Wall Street journal, citing two people familiar with the matter. Companies in the space include BAE Systems (BAESY), Lockheed Martin (LMT), and Oshkosh (OSK). Reference Link
October 2, 2015
12:23 EDTUTXSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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October 1, 2015
18:19 EDTUTXSikorsky Aircraft awarded $189.43M government contract
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10:32 EDTDDBernstein U.S. chemicals analysts hold an analyst/industry conference call
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09:30 EDTUNPRails sector upgraded to Market Weight from Market Weight at Wolfe Research
Wolfe Research upgraded the Rails Sector to Market Overweight citing limited downside in earnings and valuations at current levels. The firm recommends investors aggressively buy rail stocks again given below market multiples and double-digit earnings growth next year. As part of the sector upgrade, the analyst raised Norfolk Southern to Outperform from Peer Perform.
07:49 EDTHONHoneywell shares attractive after pullback, says Oppenheimer
Oppenheimer says that Honeywell has "resilient end markets" while its business is only moderately cyclical. The firm thinks that the company has already shown that it can overcome macro economic weakness this year, and Oppenheimer notes that the company's organic growth accelerated in Q2 versus Q1. It keeps a $117 price target and Outperform rating on the shares.
September 30, 2015
19:57 EDTUTXDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
12:26 EDTUNPRails advance after Goldman says rate of volume declines improving
Shares of railroad operators are advancing after Goldman Sachs moved its Rails coverage view to Attractive from Neutral. WHAT'S NEW: In a note to investors, Goldman Sach's Tom Kim and team said while rail volumes continue to contract, the rate of change has begun to improve and the firm sees this as an early inflection indicator. The negatives in the rail sector appear to be well known as the sector has been under "significant" selling pressure since peaking in the fourth quarter of 2014, added Goldman Sachs. The firm sees structural improvement in the profitability of the rail sector as operating margins for 2015 are estimated to have expanded to 35% from 29% in 2010. Goldman thinks the negative earnings per share revisions cycle for rails is over and that investor expectations are achievable. The firm sees earnings as a catalyst for sector performance and believes carloads will grow again in 2016 with 4% year-over-year growth in intermodal. WHAT'S NOTABLE: Kim upgraded Canadian Pacific (CP) to Buy from Neutral and reiterated its Buy rating on Union Pacific (UNP). The firm sees upside potential for Canadian National Railway (CNI), CSX (CSX), Kansas City Southern (KSU), and Norfolk Southern Corporation (NSC), but it maintained its Neutral ratings on those names as the firm expects these stocks to trade in-line with its broader Transportation coverage universe. PRICE ACTION: In afternoon trading, shares of Canadian Pacific are up nearly 3%, while Union Pacific is higher by almost 1%. CSX is advancing 2.2%, while Canadian National Railway, Kansas City Southern, and Norfolk Southern Corporation are each up over 1%.
09:31 EDTETHEthan Allen expands upholstery manufacturing in North Carolina, Mexico
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09:02 EDTHONHoneywell awarded $41M by U.S. Army for radar altimeter
Honeywell has been awarded $41M by by the U.S. Army to continue supplying its radar altimeters for use across the Army's full fleet of helicopter platforms.
08:08 EDTUNPRails sector upgraded to Attractive from Neutral at Goldman
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September 28, 2015
15:33 EDTUTXPratt & Whitney renews JV agreement for training center in Beijing
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12:39 EDTDDHuntsman plunges after warning of continued headwinds
Shares of chemical maker Huntsman (HUN) are plunging after warning that headwinds would impact its third quarter earnings. WHAT'S NEW: After the close on Friday, Huntsman warned that certain trends are expected to impact Q3 earnings. Trends expected to impact its earnings include lower titanium dioxide selling prices amid continued foreign currency headwinds, the company said. The company also noted continued soft demand in the Asia Pacific region. Huntsman said it also sees lower MTBE, or methyl tertiary butyl ether, margins as a result of lower oil prices and forecast continued lower MDI urethane component product margins in the Asia Pacific region. Peter Huntsman, the company's chief executive officer, said the company is "optimistic about the future" despite seeing headwinds in the short term. "Lower raw material prices impacted demand and margins in Q3, thus the accounting benefits will be delayed into the fourth quarter," added Huntsman. The company is anticipating fourth quarter adjusted EBITDA similar to Q3 at about $300M, similar to last year's level. The company is committed to a separation of the Pigments and Additives business by the end of 2016 or sooner. WHAT'S NOTABLE: On August 17, Goldman Sachs removed Huntsman from its Conviction Buy List and said investors remain skeptical on value proposition and free cash flow generation that could strengthen the balance sheet is likely several quarters away. The firm continued to rate shares a Buy with a $26 price target. PRICE ACTION: In midday trading, shares of Huntsman are down 23.08% to $10.70. OTHERS TO WATCH: Other chemical companies are trading lower, including Chemours (CC), which is down 7.8%, Kronos Worldwide (KRO), down 1.62%, Dow Chemical (DOW), falling 3.94% and DuPont (DD), down 2.06%%.
10:01 EDTETHSandell issues statement to Ethan Allen shareholders
Sandell Asset Management Corp., a large shareholder of Ethan Allen Interiors, has issued the following statement to its fellow shareholders of Ethan Allen: "Sandell reminds Ethan Allen shareholders that they may need to take steps with their custodial banks and brokerage firms to ensure that they have the ability to vote their shares at the upcoming 2015 Annual Meeting. Ethan Allen shareholders should pay particular attention to any shares presently held in swap arrangements or in margin accounts. In order to ensure that Ethan Allen shareholders have the ability to vote their shares, they should consider beginning the process of promptly unwinding any swap accounts to allow sufficient time before the record date. Sandell also reminds Ethan Allen shareholders that any shares in margin accounts that may be loaned by a broker will need to be moved into a cash account in advance of the record date if shareholders want to vote their shares. Also, any prospective purchasers of Ethan Allen shares prior to October 5 are encouraged to pursue settlement of purchases on a 'T+1' basis if shareholders want to vote such shares. The Company's 2015 Annual Meeting is currently scheduled for November 24 and Sandell believes that October 5 is the record date for the Annual Meeting."
07:11 EDTHONAuto parts makers defend diesel amid Volkswagen scandal, WSJ reports
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September 25, 2015
07:53 EDTUNPUnion Pacific underappreciated by the market, says Credit Suisse
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September 24, 2015
09:04 EDTHONPennTex starts second Honeywell UOP Russell Modular Gas processing plant
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08:04 EDTUTXLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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September 23, 2015
09:18 EDTDD, HONPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
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