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Stock Market & Financial Investment News

News Breaks
March 26, 2014
04:55 EDTNAV, NAV, RUSHA, RUSHA, PCAR, PCAR, WPRT, WPRT, VOLVY, VOLVY, CMI, CMIUBS to hold a field trip
UBS holds a field trip to visit with companies at the Mid-America Trucking Show in Louisville, Kentucky on March 26-27.
News For NAV;RUSHA;PCAR;WPRT;VOLVY;CMI From The Last 14 Days
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September 1, 2015
16:26 EDTWPRTOn The Fly: Top stock stories for Tuesday
Stocks began the session deep in negative territory and remained there throughout the session. The weakness was attributed to the release of poor economic data out of China that confirms the world's second largest economy is slowing. There was little help from the day's domestic economic reports, as the construction spending and ISM manufacturing data came out roughly in-line with expectations. The market pared its losses slightly just before the lunch hour, but then the sellers regained control and pushed the averages down further with no sign of a rally prior to the close. ECONOMIC EVENTS: In China, the government's official manufacturing purchasing manager's index fell to 49.7 in August, indicating contraction and marking its worst PMI reading in three years. In the U.S., the Institute for Supply Management's manufacturing index for August came in at 51.1, below the consensus forecast for a reading of 52.5. Markit's manufacturing PMI for last month came in at 53.0 in its final reading, slightly beating expectations for a 52.9 reading. Construction spending rose 0.7% in July, beating/missing expectations for spending to have grown 0.6% in the month. In Europe, the final Eurozone manufacturing PMI for August came in at 52.3, which was a tick down from the flash reading of 52.4 and from July's final 52.4 reading. The EU's statistics agency said the eurozone's unemployment rate fell to 10.9% during July, marking the area's lowest unemployment figure since February 2012. COMPANY NEWS: Ford (F) reported August U.S. sales that it said were its best in nine years, growing its sales by 5% to 234,237 vehicles last month, but its shares slipped 1.08% to $13.72 amid the broader market weakness. General Motors (GM) fell 2.75% to $28.63 after the company reported its U.S. sales slipped 0.7% to 270,480 vehicles in August, while Fiat Chrysler (FCAU) shares slid 3.4% to $13.65 after the company reported its U.S. sales increased 1.7% last month to 201,672 units... Shares of streaming video giant Netflix (NFLX) fell $9.39, or 8.16%, to $105.64 after Variety reported that Apple (AAPL) is exploring an entry into the original programming business and Amazon (AMZN) announced it expanded Prime Video downloads to the iOS and Android platforms. MAJOR MOVERS: Among the notable gainers was drugmaker Trevena (TRVN), which surged 51% to $9.06 after reporting that its study of post-surgery painkiller TRV130 met its primary endpoint. Also higher was Internap (INAP), which gained 12% to $8.93 after disclosing that it is exploring strategic alternatives. Among the noteworthy losers was Penn West (PWE), which declined about 16.5% to 64c after suspending its dividend and announcing plans to cut its global workforce by 35% amid the weak commodity price environment. Also lower were both Westport (WPRT) and Fuel Systems (FSYS), which lost a respective 5.93% and 4.23%, after agreeing to merge and reiterating current revenue outlooks for both companies. Additionally, Dollar Tree (DLTR) fell 9.2% to $69.22 after its pre-market earnings report. Note that in a regulatory filing last night, the company disclosed that it does not plan to pay a dividend following its combination with Family Dollar. INDEXES: The Dow dropped 469.68, or 2.84%, to 16,058.35, the Nasdaq lost 140.40, or 2.94%, to 4,636.10, and the S&P 500 fell 58.33, or 2.96%, to 1,913.85.
15:02 EDTNAVNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include G-III Apparel (GIII), consensus 20c... Navistar (NAV), consensus 8c... Vera Bradley (VRA), consensus 11c.
10:21 EDTWPRTWestport, Fuel Systems resume trading after merger announcement
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09:53 EDTWPRTWestport and Fuel Systems reiterate respective revenue outlooks
Westport expects consolidated revenue to be between $110 million and $125 million for the year vs. consensus $113.95M. Fuel Systems expects consolidated revenue to be in the range of $270 to $280 million for the year vs. consensus of $271.63M. This results in a combined range from $380 to $405 million projected for the year ended December 31, 2015. The companies expect the transaction to be accretive to the combined company's adjusted EBITDA and earnings in 2016, excluding one-time costs, through approximately $30 million of annual pre-tax savings and merger synergies fully realized by calendar year 2018. Included in the $30 million per year is $15 million in annualized benefits expected to be generated by Fuel Systems' restructuring program in 2016 and beyond and Westport's initiatives to reach positive adjusted EBITDA by mid-2016 and through a combination of reductions in corporate management costs, manufacturing costs, and operating expenses as a result of the merger. Westport has a publicly stated goal of reaching break even by the middle of 2016 and the merger would only strengthen the company's ability to meet this goal. The combined company will also benefit from a strengthened balance sheet and enhanced liquidity and will be positioned for continued investment and long-term financial stability. The combined companies reported approximately $117 million in cash and short term investments as of June 30, 2015.
09:51 EDTWPRTWestport and Fuel Systems announce intention to merge
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09:50 EDTWPRTWestport and Fuel Systems announce intention to merge
August 31, 2015
17:38 EDTNAVNavistar Defense awarded $368.93M government contract
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August 30, 2015
12:42 EDTPCARAmerican Airlines, others look like underappreciated bargains, Barron's says
Shares of American Airlines (AAL), Coach (COH), PACCAR (PCAR), and CA Technologies (CA) not only look cheap but pay dividends, thereby rewarding patient investors willing to wait for rebounds, Barron's contends in a feature article. All four firms are generating "healthy" return on capital, suggesting operations are stronger than traders believe, Barron's argues. Reference Link
August 28, 2015
08:23 EDTNAVNavistar volatility elevated into Q3 and outlook
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August 26, 2015
10:00 EDTPCAROn The Fly: Analyst Upgrade Summary
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06:44 EDTPCARPACCAR upgraded to Overweight from Neutral at Piper Jaffray
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August 21, 2015
10:02 EDTCMICummins upgraded to Buy from Hold at Standpoint Research
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August 20, 2015
05:41 EDTVOLVYVolvo reports July total truck deliveries up 1% to 15,586 vehicles
Deliveries from the Volvo Group's truck operations in July amounted to 15,586 vehicles. In July, truck deliveries rose by 27% in Asia and by 5% in Europe. Deliveries in South America were down by 34% while deliveries rose by 1% in North America. In total the Volvo Group's wholly-owned operations delivered 15,586 trucks, which was on the same level as in July 2014.
August 19, 2015
10:00 EDTNAVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
06:31 EDTNAVNavistar initiated with a Neutral at Macquarie
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