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Stock Market & Financial Investment News

News Breaks
June 20, 2014
11:27 EDTMAS, BECN, PGEM, OC, LPX, AWIOwens 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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November 26, 2014
11:33 EDTAWIArmstrong World management to meet with SunTrust
Meeting to be held in Boston on December 3 hosted by SunTrust.
10:11 EDTLPXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Hold from Buy at Canaccord... Agrium (AGU) downgraded to Underperform from Neutral at BofA/Merrill... Cinemark (CNK) downgraded to Hold from Buy at Topeka... Copa Holdings (CPA) downgraded to Neutral from Overweight at JPMorgan... Ctrip.com (CTRP) downgraded to Equal Weight from Overweight at Barclays... Cubic (CUB) downgraded to Hold from Buy at Needham... Helix Energy (HLX) downgraded at Morgan Stanley... Louisiana-Pacific (LPX) downgraded to Underperform from Sector Perform at RBC Capital... U.S. Silica (SLCA) downgraded to Market Perform at Wells Fargo.
06:00 EDTLPXLouisiana-Pacific downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded Louisiana-Pacific to Underperform saying OSB lumber prices are likely to remain at "depressed" levels over the next year due to high inventory levels. RBC believes shares are overvalued given the price environment and keeps a $13 price target for shares. Louisiana-Pacific closed yesterday up 39c to $15.89.
November 25, 2014
10:22 EDTBECNBeacon Roofing says 'optimistic' company will have good growth, profit year
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08:01 EDTBECNBeacon Roofing reports Q4 EPS 48c, consensus 62c
Reports Q4 revenue $726.5M, consensus $730.16M. During the fourth quarter, the company incurred increased operating expenses of $6.1M related to new stores as the company continued to expand its footprint in existing and new markets.
November 24, 2014
15:20 EDTBECNNotable companies reporting before tomorrow's open
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November 21, 2014
07:43 EDTAWIArmstrong World management to meet with Deutsche Bank
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November 20, 2014
07:15 EDTAWIArmstrong World management to meet with Deutsche Bank
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November 19, 2014
10:00 EDTBECNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Beacon Roofing (BECN) downgraded to Hold from Buy at KeyBanc... BlackBerry (BBRY) downgraded to Underweight from Equal Weight at Morgan Stanley... Consolidated Edison (ED) downgraded to Sell from Neutral at UBS... Denbury Resources (DNR) downgraded to Hold from Buy at Wunderlich... Synchronoss (SNCR) downgraded to Underperform from Neutral at RW Baird... Total System (TSS) downgraded to Sell from Neutral at Goldman... Movado (MOV) downgraded to Market Perform from Outperform at Barrington... Transocean Partners (RIGP) downgraded to Market Perform from Outperform at Wells Fargo... Seadrill Partners (SDLP) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Neutral from Buy at UBS.
07:51 EDTBECNBeacon Roofing downgraded at KeyBanc
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06:19 EDTBECNBeacon Roofing downgraded to Hold from Buy at KeyBanc
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November 14, 2014
10:00 EDTAWIOn The Fly: Analyst Downgrade Summary
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08:25 EDTAWIArmstrong World downgraded to Underperform from Buy at BofA/Merrill
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