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Stock Market & Financial Investment News

News Breaks
June 20, 2014
11:27 EDTOC, BECN, AWI, PGEM, MAS, LPXOwens 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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October 29, 2014
10:20 EDTAWIHigh option volume stocks
High option volume stocks: KCG OI SWI SNY ITUB AWI GDOT PNRA EA ZLTQ
October 28, 2014
10:12 EDTAWIOn The Fly: Analyst Downgrade Summary
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05:36 EDTAWIArmstrong World downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Armstrong World Industries to Equal Weight citing execution issues and weakening customer trends following the company's Q3 results and lowered outlook. The firm dropped its price target for shares to $50 from $62.
October 27, 2014
17:03 EDTMASMasco reports Q3 adjusted EPS 31c, consensus 32c
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15:34 EDTMASNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $2.11; General Growth Properties (GGP), consensus 31c; Avalonbay (AVB), consensus $2.00; Hartford Financial (HIG), consensus 83c; Universal Health Services (UHS), consensus $1.36; XL Group (XL), consensus 63c; Masco (MAS), consensus 32c; Plum Creek Timber (PCL), consensus 30c; T-Mobile US (TMUS), consensus 2c; Cliffs Natural (CLF), consensus (3c); Twitter (TWTR), consensus 1c; American Capital Agency (AGNC), consensus 73c; DDR Corp. (DDR), consensus 30c; PartnerRe (PRE), consensus $3.66; Owens & Minor (OMI), consensus 47c; Manitowoc (MTW), consensus 42c; Compass Minerals (CMP), consensus 78c; Allison Transmission (ALSN), consensus 30c; Regal Entertainment (RGC), consensus 17c.
10:26 EDTOCHigh option volume stocks
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07:05 EDTAWIArmstrong World sees FY14 EPS $2.00-$2.15, consensus $2.10
Sees FY14 revenue $2.68B-$2.72B, consensus $2.72B. Sees FY14 adjusted EBITDA $355M-$375M.
07:03 EDTAWIArmstrong World reports Q3 adjusted EPS 83c, consensus 78c
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October 23, 2014
10:01 EDTOCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Brean Capital... Angie's List (ANGI) downgraded to Hold from Buy at Needham... Avalon Rare Metals (AVL) downgraded to Neutral from Buy at Citigroup... Axiall (AXLL) downgraded at Cowen... BB&T (BBT) downgraded to Neutral from Buy at Goldman... Boeing (BA) downgraded at Credit Suisse... Boulder Brands (BDBD) downgraded to Hold from Buy at Canaccord... Citrix (CTXS) downgraded to Hold from Buy at Drexel Hamilton... ClickSoftware (CKSW) downgraded to Hold from Buy at Lake Street... DTS, Inc. (DTSI) downgraded to Underweight from Neutral at JPMorgan... GulfMark Offshore (GLF) downgraded to Market Perform from Outperform at Cowen... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Compass Point... ICON plc (ICLR) downgraded to Equal Weight from Overweight at First Analysis... IPC The Hospitalist Co. (IPCM) downgraded to Market Perform at Wells Fargo... Melco Crown (MPEL) downgraded to Neutral from Buy at Nomura... Mercer (MERC) downgraded at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Buy at BofA/Merrill... Owens Corning (OC) downgraded to Neutral from Overweight at JPMorgan... Regency Energy Partners (RGP) downgraded to Neutral from Buy at BofA/Merrill... The Medicines Co. (MDCO) downgraded to Neutral from Buy at BofA/Merrill... Tupperware Brands (TUP) downgraded to Neutral from Overweight at JPMorgan... Union Bankshares (UBSH) downgraded at RW Baird... VOC Energy Trust (VOC) downgraded at RBC Capital... Yelp (YELP) downgraded to Hold from Buy at Stifel.
05:49 EDTOCOwens Corning downgraded to Neutral from Overweight at JPMorgan
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October 22, 2014
11:14 EDTOCHigh option volume stocks
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07:30 EDTOCOwens Corning: Insulation business expected to return 50% operating leverage
Expects Insulation business to produce $100M or more EBIT in an environment of 1M US housing starts. Expects Composites business 2014 EBIT improvement of about $40M, largely driven by higher pricing. Expects Roofing business to be down in 2H14 and FY14 from prior year, with operating margins to be below guidance of average operating margins of mid-teens or higher. Corporate expenses in FY14 is expected to be $80M. Sees FY14 CapEx $370M. Sees FY14 adjusted effective tax rate of 28%-30%. The company had previously guided that it expected full-year adjusted EBIT to grow versus 2013. Continued weakness of roofing market shipments in the second half creates $15 million of downside risk versus last year's adjusted EBIT performance of $416 million.
07:29 EDTOCOwens Corning reports Q3 adjusted EPS 63c, consensus 49c
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October 20, 2014
07:19 EDTOCOwens Corning downgraded at Wedbush
As previously reported, Wedbush downgraded Owens Corning to Neutral from Outperform. The firm downgraded shares based on continued pricing and margin pressures following a competitor dropping prices and a more challenging roofing environment. Price target lowered to $35 from $43.
07:14 EDTOCOwens Corning downgraded to Neutral from Outperform at Wedbush

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