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Stock Market & Financial Investment News

News Breaks
February 12, 2014
11:44 EDTMAS, LPX, OC, PPGOwens 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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December 18, 2014
07:22 EDTPPGPPG Industries price target raised to $260 from $240 at Jefferies
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December 12, 2014
14:26 EDTOCOwens Corning management to meet with Wedbush
Meeting with Management is being held in Denver on December 16 hosted by Wedbush.
December 10, 2014
07:40 EDTLPXBofA/Merrill to hold a conference
2014 U.S. Basic Materials Conference is being held in Boston on December 10-11.
December 9, 2014
12:33 EDTPPGPPG Industries management to meet with Jefferies
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10:50 EDTPPGPPG Industries to supply Gulfstream windows, assemblies for G500, G600 jets
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10:23 EDTLPXOn The Fly: Analyst Downgrade Summary
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06:39 EDTLPXNorbord, Ainsworth merger positive for Weyerhaeuser, says Citigroup
Citigroup views yesterday's merger announcement from Norbord and Ainsworth Lumber as positive for Weyerhaeuser (WY) and the oriented strand board market. Citi expects positive OSB earnings momentum for Weyerhaeuser as prices rebound in 2015-2016. Shares were up 58c yesterday to $36.11. Shares of Louisiana-Pacific (LPX), which attempted to acquire Ainsworth in 2013, rallied $1.33 to $16.83.
06:38 EDTLPXLouisiana-Pacific downgraded to Neutral from Buy at Longbow
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December 8, 2014
12:15 EDTLPXLouisiana-Pacific jumps after Canada's Norbord to buy Ainsworth
Louisiana-Pacific is trading higher today after Canada's Norbord and Ainsworth Lumber announced that they have signed a definitive agreement under which they will merge to create a global wood products company focused on oriented strand board across North America, Europe and Asia. WHAT'S NOTABLE: Louisiana-Pacific was planning to takeover Ainsworth Lumber earlier this year, but backed away from the deal due to increased scrutiny from U.S. and Canadian regulators. PRICE ACTION: Shares of Louisiana-Pacific are up almost 10% to $16.99 in midday trading.
December 5, 2014
12:46 EDTLPXLouisiana-Pacific downgraded at DA Davidson
As previously reported, DA Davidson downgraded Louisiana-Pacific to Neutral from Buy. The firm downgraded shares based on valuation and keeps its $16 price target.
12:43 EDTLPXLouisiana-Pacific downgraded to Neutral from Buy at DA Davidson
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