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Stock Market & Financial Investment News

News Breaks
June 5, 2014
08:41 EDTMTWManitowoc remains a top pick at Credit Suisse
Credit Suisse believes Manitowoc is best positioned to leverage crane cycle opportunities and to improve Food service margins. In addition, the firm expects operational initiatives to improve top line growth and produce $80M in 2014 cost savings. Shares are Outperform rated with a $34 price target.
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July 30, 2014
17:20 EDTMTWManitowoc lowers 2014 guidance for Crane segment revenue
Manitowoc is lowering its 2014 guidance for Crane segment revenue and Foodservice operating margins, as well as its full-year effective tax rate and amortization of deferred financing fees, while reaffirming all other key full-year financial metrics. Manitowoc now expects: Crane revenue - flat to slightly down; Foodservice operating margins - mid-teens percentages.
17:19 EDTMTWManitowoc reports Q2 adjusted EPS 35c, consensus 42c
Reports Q2 revenue $1.01B, consensus $1.06B. The company said, "Our results for the quarter fell short of our expectations with disappointing top-line performance in Cranes driven by uncertainty spanning certain end markets, as well as limited margin expansion in Foodservice. However, our ability to react swiftly, maintain responsive cost controls, and enhance our operational efficiencies should help mitigate the impact on our overall profitability for the year. We are committed to executing our strategies across the enterprise, in spite of some of the challenges we faced in the first half of the year."
July 22, 2014
16:32 EDTMTWManitowoc receives favorable initial determination in patent infringement suit
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