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Stock Market & Financial Investment News

News Breaks
February 12, 2014
11:44 EDTLPX, OC, PPG, MASOwens Corning hits 52-week high after better than expected results
Shares of building materials maker Owens Corning (OC) are soaring after the company reported fourth quarter results that easily surpassed expectations. WHAT'S NEW: This morning, Owens Corning reported Q4 adjusted earnings per share of 44c and revenue of $1.28B, compared to expectations of 27c and $1.21B, respectively. WHAT'S NOTABLE: The company announced it will reinstate a quarterly dividend of 16c per share, and expects to deliver $500M in adjusted EBIT in 2014 based on its current outlook for an improving U.S. housing market and moderate global growth. The decision to declare a dividend conveys the confidence of the board of directors in the company's long-term financial outlook and cash flow generation, the company stated. ANALYST REACTION: Following the report, research firm Wedbush reiterated an Outperform rating and 12-month price target of $44 on the shares. Wedbush reaffirmed its positive stance on Owens Corning due to the company's strong earnings performance, the reinstatement of a dividend, and the more than 20% growth in EBIT expected for 2014. PRICE ACTION: In late morning trading, Owens Corning soared $5.23, or 13.2%, to $44.97 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $45.62. Despite today's strong move, the stock has gained only about 3% over the past twelve months. OTHERS TO WATCH: Others in the building materials space include Masco Corporation (MAS), PPG Industries (PPG), and Louisiana-Pacific (LPX).
News For OC;MAS;PPG;LPX From The Last 14 Days
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April 21, 2014
07:35 EDTPPGPPG Industries price target raised to $228 from $215 at Jefferies
Jefferies raised its price target for PPG Industries shares to $228 following the company's Q1 results. The firm believes the risk/reward on shares remains favorable and it keeps a Buy rating on the stock.
April 17, 2014
14:14 EDTPPGPPG Industries continues to evaluate potential acquisitions
PPG Industries held its annual meeting of shareholders in Pittsburgh, where Chairman and CEO Charles E. Bunch spoke about the company’s recent strategic progress and record financial performance. Looking ahead, Bunch said, “Our focus this year remains on growing the company. To help drive growth in each of our businesses and regions, we are continuing to evaluate potential acquisitions; expanding our organic capital spending; emphasizing our new product development pipeline; investing more in PPG’s brands; and continuing to expand our sustainability initiatives across the world.”
09:15 EDTPPGPPG Industries board authorizes $2B share repurchase program
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08:53 EDTPPGPPG Industries increases dividend to 67c from 61c
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08:11 EDTPPGPPG Industries reports Q1 adjusted EPS $1.98, consensus $1.87
Reports Q1 revenue $3.6B, consensus $3.63B.

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