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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
Check below for free stories on OC;BECN;AWI;PGEM;MAS;LPX the last two weeks.
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July 29, 2014
10:18 EDTMASMasco jumps after results, levels to watch
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10:00 EDTAWIOn The Fly: Analyst Downgrade Summary
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09:17 EDTMASOn The Fly: Pre-market Movers
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07:15 EDTAWIArmstrong World downgraded to Buy from Conviction Buy at Goldman
Goldman removed Armstrong World from the Conviction Buy List citing the disappointing outlook for non-residential spending following upbeat commentary at the May analyst day. Shares remain Buy rated with a $60 price target, down from $68.
July 28, 2014
18:31 EDTMASOn The Fly: After Hours Movers
UP AFTER EARNINGS: Cognex (CGNX), up 16.4% after reporting second quarter results and third quarter revenue guidance above analyst expectations... HealthSouth (HLS), up 7.4% after reporting second quarter results and increasing fiscal 2014 EPS and Adjusted EBITDA guidance... Amkor Technology (AMKR), up 6.4%... Integrated Device (IDTI), up 7.6% after reporting first quarter results... Masco (MAS), up 4.8%. ALSO HIGHER: Darden Restaurants (DRI), up 4.6% following the company's announcement that chairman and CEO Clarence Otis will step down and the board will separate the chairman and CEO roles, appointing lead independent director Charles Ledsinger, Jr., as independent non-executive chairman... Arrowhead Research (ARWR), up 16.5% following positive comments made by CEO Christopher Anzalone, Ph.D. in an interview on CNBC. DOWN AFTER EARNINGS: Herbalife (HLF), down 11.5% after reporting disappointing second quarter results and giving guidance for the third quarter and fiscal 2014... Alliance Fiber Optic (AFOP), down 9.7%... Plum Creek Timber (PCL), down 2.8%... Eastman Chemical (EMN), down fractionally after reporting quarterly results. ALSO LOWER: TCP Capital (TCPC), down 3.1% after filing to sell $5.4M shares of common stock.
17:05 EDTMASMasco sees steady growth in FY14 for construction, repair, remodel activity
Masco's President and CEO, Keith Allman, stated, "As we move into the third quarter, we continue to see growing demand for our products and services across our end markets. Our outlook remains positive with the belief that new home construction and repair and remodel activity will show steady growth in 2014. We believe we are well positioned to grow our key brands and to gain market share in this environment. While there is pent-up demand for high-ticket items such as cabinets, we expect that this category will continue to lag in the short term compared to other segments as consumers defer discretionary high-ticket expenditures. We remain committed to realizing the full potential of our core businesses, leveraging opportunities across our portfolio and actively managing the portfolio to drive long-term shareholder value."
17:02 EDTMASMasco reports Q2 adjusted EPS 32c, consensus 28c
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15:47 EDTMASNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include General Growth Properties (GGP), consensus 30c; Eastman Chemical (EMN), consensus $1.84; Range Resources (RRC), consensus 40c; XL Group (XL), consensus 83c; Plum Creek Timber (PCL), consensus 30c; Masco (MAS), consensus 28c; Jacobs Engineering (JEC), consensus 80c; Herbalife (HLF), consensus $1.57; W.R. Berkley (WRB), consensus 77c; HEALTHSOUTH (HLS), consensus 47c; Denny's (DENN), consensus 8c; Integrated Device Technology (IDTI), consensus 16c; Advent Software (ADVS), consensus 34c; Tile Shop Holdings (TTS), consensus 11c; Meru Networks (MERU), consensus (11c); Crane Co. (CR), consensus $1.16.
10:30 EDTAWIArmstrong World falls as Q2 EPS, revenue miss expectations, guidance disappoints
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07:12 EDTAWIArmstrong World sees FY14 adjusted EPS $2.15-$2.40, consensus $2.60
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07:08 EDTAWIArmstrong World sees Q3 revenue $740M-$780M, consensus $758.99M
Sees Q3 adjusted EBITDA $110M-$130M.
07:06 EDTAWIArmstrong World reports Q2 EPS 38c, may not compare to consensus 66c
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July 24, 2014
10:03 EDTOCOn The Fly: Analyst Downgrade Summary
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06:28 EDTOCOwens Corning downgraded to Hold from Buy at Stifel
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July 23, 2014
07:35 EDTOCOwens Corning sees FY CapEx approximately $370M
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07:34 EDTOCOwens Corning reports Q2 adjusted EPS 38c, consensus 46c
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July 22, 2014
15:30 EDTOCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP) , consensus $1.23; Boeing (BA), consensus $2.01; Dow Chemical (DOW), consensus 72c; EMC (EMC), consensus 43c; Simon Property Group (SPG), consensus $2.13; Thermo Fisher (TMO), consensus $1.62; General Dynamics (GD), consensus $1.77; Freeport-McMoRan (FCX), consensus 49c; Delta Air Lines (DAL), consensus $1.04; Northrop Grumman (NOC), consensus $2.22; Whirlpool (WHR), consensus $2.91; B/E Aerospace (BEAV), consensus $1.07; Ryder (R), consensus $1.40; Owens Corning (OC), consensus 46c.

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