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Stock Market & Financial Investment News

News Breaks
March 5, 2013
07:37 EDTMNTX, WNC, DE, TEX, ITW, PH, OSK, URI, CATISI Group to host a conference
Industrials Conference is being held in New York on March 5.
News For MNTX;WNC;DE;TEX;ITW;PH;OSK;URI;CAT From The Last 14 Days
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October 13, 2014
10:08 EDTPHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:22 EDTPHParker-Hannifin downgraded to Neutral at Baird
As reported previously, Baird downgraded Parker-Hannifin to Neutral from Outperform citing softening energy prices which are likely to impact future growth. Baird lowered its price target on Parker-Hannifin to $115 from $128.
07:08 EDTDEDeere reports September U.S./Canada utility tractor sales up more than 28%
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06:51 EDTPHParker-Hannifin downgraded to Neutral from Outperform at RW Baird
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05:40 EDTPHParker-Hannifin downgraded to Market Perform from Outperform at Wells Fargo
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October 9, 2014
14:01 EDTOSKOshkosh Defense segment aims to cut workforce by 250-300
Oshkosh announced that its Defense segment plans to reduce its workforce in Oshkosh by approximately 250-300 hourly positions in December. In addition, approximately 70 salaried positions will be eliminated with the majority being temporary employees, elimination of open positions and those retiring. With the reduction, Oshkosh will retain more than 1,800 Defense employees in Oshkosh, Wisconsin and key regional facilities around the world. The company said, "We continue to reshape our workforce as a result of significantly lower U.S. defense spending and dramatic reductions in military vehicle production. We have gone to great lengths to minimize and delay the impact of these changes on our Defense workforce. At the same time we are aggressively competing for future contracts including JLTV, MSVS and other international opportunities, which will serve as a catalyst for growth of the Defense business.
October 8, 2014
11:34 EDTCATCaterpillar maintains dividend of 70c per share
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08:57 EDTURIUnited Rentals has reached compelling entry point, says Oppenheimer
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08:49 EDTDEDeere price target lowered to $69 from $78 at Goldman
Goldman lowered Deere estimates and reduced its price target to $69 based on lower AG and TURF margin forecasts, and declining financial services margins. The firm reiterates its Sell rating based on an extended multi-year downturn in the ag equipment industry.
08:06 EDTITWGraco to sell liquid finishing business assets for $590M to Carlisle
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October 7, 2014
16:19 EDTDEOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and remained there for the entire session. A weak industrial production report out of Germany and the IMF's lowering of its global growth forecast filled the news void left by another relatively light day on the domestic economic calendar. The volume was heavy and the selling was broad based, with each of the major equity indexes losing more than 1.5%. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings surged 230K to 4.835M in August, marking their highest level since January 2001. Consumer credit rose only $13.5B in August, missing expectations for an increase in credit of $20B. In Europe, German industrial production dropped 4% sequentially in August on an adjusted basis, which was a steeper slide than economists forecast and its biggest decline since January 2009. Also of note, the International Monetary Fund cut its global economic growth forecasts for the third time this year. The growth forecast for 2014 was trimmed to 3.3% from a July forecast of 3.4%, while the 2015 projection was lowered to 3.8% from 4.0% previously. COMPANY NEWS: AGCO (AGCO) fell $4.97, or 10.55%, to $42.13 after the company lowered its third quarter view and cut its fiscal year 2014 earnings per share outlook for a second time after previously lowering it in July. The stock, along with several others in the U.S. machinery industry, were downgraded today at Bank of America Merrill Lynch. Merrill also downgraded Deere (DE) to Underperform from Neutral this morning, citing the collapse in corn and soybean pricing and the strengthening U.S. dollar, and its shares also declined $2.83, or 3.42%, to $80.01. MAJOR MOVERS: Among the notable gainers was GT Advanced (GTAT), which rebounded 41c, or 51.25%, to $1.21 following its sharp, 93% decline yesterday after its unexpected bankruptcy filing. Today's recovery, however, still leaves the stock far below the $11 per share level where it began yesterday's trading session. Also higher was CalAmp (CAMP) which rose $3.47, or 21.03%, to $19.97 and was upgraded to Outperform at Macquarie after the wireless technology solutions maker's Q2 report. Among the noteworthy losers was SodaStream (SODA), which sunk $6.05, or 21.94%, to $21.52 after the home beverage carbonation system maker warned that revenue for its third quarter will come in well below Wall Street estimates. Also lower were shares of The Container Store Group (TCS), which dropped $5.45, or 24.9%, to $16.44 after the company lowered its fiscal 2014 outlook. The decline sent the stock below the $18.00 level, where its initial public offering priced last November. INDEXES: The Dow dropped 272.52, or 1.6%, to 16,719.39, the Nasdaq fell 69.60, or 1.56%, to 4,385.20, and the S&P 500 declined 29.73, or 1.51%, to 1,935.09.
12:09 EDTDEOn The Fly: Midday Wrap
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10:50 EDTTEX, DE, URIAGCO shares slide as company cuts outlook, U.S. machinery sector downgraded
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10:02 EDTURI, DE, TEXOn The Fly: Analyst Downgrade Summary
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09:14 EDTDEOn The Fly: Pre-market Movers
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07:23 EDTURIUnited Rentals downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded United Rentals citing multi-year share outperformance and lowered Machinery sector estimates due to FX headwinds, lower commodity prices, weaker European PMIs, and lowered China and Brazil expectations. Price target lowered to $120 from $125.
07:23 EDTTEXTerex downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill downgraded Terex to Underperform based on Crane underperformance and peaking AWP margins. Price target lowered to $30 from $37.
07:23 EDTDEDeere downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill downgraded Deere to Underperform citing the collapse in corn and soybean pricing and the strengthening U.S. dollar. The firm expects the collapse in farm equipment demand to hit hard in 2015 and lowered estimates 10%-20% below consensus. Price target lowered to $82 from $90.
October 6, 2014
18:50 EDTPHParker-Hannifin joint venture to expand, increase workforce
Advanced Atomization Technologies, the joint venture between Parker Aerospace and GE Aviation, will expand its facility in Clyde, New York. The updated manufacturing facility and new office building will accommodate increased demand for work that is being scheduled for new engine programs that are experiencing dramatic production ramp up within the next several years. With increased work volume driving the expansion, the company plans to hire 80 to 100 additional team members over the next five years.
15:32 EDTITWGraco receives order from FTC to divest liquid finishing business assets
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