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Stock Market & Financial Investment News

News Breaks
June 20, 2014
11:27 EDTLPX, AWI, MAS, BECN, PGEM, OCOwens Corning slips after roofing prompts lower earnings outlook
Shares of building materials maker Owens Corning (OC) are falling after the company cut its guidance for its full-year 2014 earnings before interest and taxes. WHAT'S NEW: Owens Corning reduced its FY14 EBIT outlook to $416M from $500M as well as slashed its roofing volumes guidance for the first half of this year to be 20% lower than volumes in the same period of last year. The company expects to recover a portion of this volume shortfall in the second half of the year, but noted that continued weakness in the second quarter has introduced further uncertainty in the FY14 financial outlook for the company's roofing business. The company continues to see improvement in the year-over-year performance of both its insulation and composites businesses. Earnings growth in these two businesses is expected to more than offset the weaker financial performance in the roofing business year-over-year, Owens Corning noted. WHAT'S NOTABLE: Three days ago, Goldman upgraded the building products sector to Attractive from Neutral based on reduced expectations and accelerating U.S. macroeconomic conditions. The firm said that non-residential construction is at an inflection and it expects existing homes sales growth to increase. As part of the sector change, the firm upgraded Armstrong World (AWI) to Conviction Buy from Buy and downgraded Ply Gem (PGEM) to Sell from Neutral. OTHERS TO WATCH: Others in the building materials space include Masco Corporation (MAS), Beacon Roofing Supply (BECN) and Louisiana-Pacific (LPX). PRICE ACTION: During morning trading, shares of Owens Corning fell $1.90 or 4.6%, to $39.40. Meanwhile, Masco was down 1.8%, Beacon Roofing Supply was down 3.6% and Ply Gem was down 0.6%.
News For OC;BECN;AWI;PGEM;MAS;LPX From The Last 14 Days
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March 2, 2015
10:00 EDTAWIOn The Fly: Analyst Upgrade Summary
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09:58 EDTAWIArmstrong World to benefit from Lumber Liquidators issues, says CL King
07:32 EDTAWIArmstrong World upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded Armstrong World to Neutral and increased its price target to $59 from $51 to reflect the spin-off of the flooring segment, which removes an overhang.
07:27 EDTMASRaymond James to hold a conference
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February 27, 2015
09:02 EDTMASWatkins Manufacturing acquires Endless Pools
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February 25, 2015
08:54 EDTAWIArmstrong World 2.74M share Spot Secondary priced at $55.64
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February 24, 2015
16:10 EDTAWIArmstrong World files automatic mixed securities shelf
10:00 EDTAWIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
08:49 EDTAWIArmstrong World split positive, says SunTrust
After Armstrong World announced that it would split into two public entities, SunTrust thinks the move will unlock significant value in the company's ceilings unit, while the company will look to use the split to get its flooring business moving in the right direction. The firm raised its price target on the stock to $64 from $60 and keeps a Buy rating on the shares.
07:31 EDTAWIArmstrong World downgraded at KeyBanc
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07:26 EDTAWIArmstrong World price target raised ot $62 from $55 at Deutsche Bank
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06:31 EDTAWIArmstrong World downgraded to Hold from Buy at KeyBanc
February 23, 2015
10:43 EDTOCOwens Corning management to meet with SunTrust
Meetings to be held in Dallas on February 24 and in Houston February 25 hosted by SunTrust.
07:10 EDTAWIArmstrong World sees FY15 adjusted EPS $2.05-$2.45, consensus $2.34
Sees FY15 revenue $2.53B-$2.63B, consensus $2.7B.
07:07 EDTAWIArmstrong World reports Q4 adjusted EPS 38c, consensus 26c
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07:02 EDTAWIArmstrong World to separate into two public companies
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07:00 EDTAWIArmstrong World to separate into two public companies

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