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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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January 28, 2015
09:22 EDTLPXCitadel Advisors reports 5.1% passive stake in Louisiana-Pacific
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January 26, 2015
07:25 EDTOCOwens Corning added to Franchise Pick list at Jefferies
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January 23, 2015
08:19 EDTLPXBofA/Merrill paper/forest products analyst hold analyst/industry conference call
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January 15, 2015
13:23 EDTPPGPPG Industries sees greater than $1B in Comex sales in FY15
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13:19 EDTPPGPPG Industries sees 2015 FX cutting revenue $650M-$750M
Sees 2015 FX cutting earnings $65M-$75M. Impact seen more prevalent in Q2, Q3 due to seasonality of businesses. FY15 EPS consensus $11.51, FY15 revenue consensus $16.81B. Guidance from slides presentation.
08:11 EDTPPGPPG Industries reports Q4 adjusted EPS $2.11, consensus $1.99
Reports Q4 revenue $3.71B, consensus $3.64B.

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