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Stock Market & Financial Investment News

News Breaks
December 17, 2012
19:02 EDTNXQuanex announces agreement to acquire assets of Alumco, terms not disclosed
Quanex Building Products Corporation announced it signed a definitive agreement to acquire the assets of Alumco and its subsidiaries in an all cash transaction. The assets to be purchased include Aluminite, a screen producer for the window and door industry. The acquisition is expected to be accretive to EPS in 2013 and close by December 31. The purchase price and other financial information related to Alumco will not be publicly disclosed.
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September 9, 2014
07:05 EDTNXQuanex backs FY14 revenue guidance of up 8%-9%
Lowers FY14 EBITDA view to $53M-$55M. As previously disclosed, CDI, the vinyl resin pricing index, has increased by 11% so far in 2014, with a further 2% to 4% possible in Q4. Much of the increase realized thus far could not be passed on to certain customers due to previously negotiated contracts. In addition, the underinvestment in extrusion equipment during the housing recession, combined with the increase in volumes this summer, has caused a higher incidence of equipment failures resulting in higher repair and maintenance costs, higher scrap levels and higher labor inefficiencies. These higher operating costs are expected to continue throughout this calendar year. However, the company has recently taken delivery of five new high output extrusion lines which, along with several other initiatives already underway, will allow Quanex to return to a more normal operating cost environment entering calendar 2015 and beyond. Contract negotiations to recover resin cost increases will span the remainder of calendar 2014 with implementation in January 2015.
07:03 EDTNXQuanex reports Q3 EPS 23c, consensus 20c
Reports Q3 revenue $169.98M, consensus $166.06M.
September 8, 2014
15:27 EDTNXNotable companies reporting before tomorrow's open
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