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Stock Market & Financial Investment News

News Breaks
February 12, 2014
11:44 EDTOC, MAS, PPG, LPXOwens 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
Check below for free stories on OC;MAS;PPG;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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09:17 EDTMASOn The Fly: Pre-market Movers
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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.
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.
July 18, 2014
09:02 EDTPPGPPG Industries to sell Mt. Zion float glass manufacturing facility
PPG Industries announced that it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Illinois, glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter 2014, subject to customary closing conditions. Financial terms were not disclosed. The sale of the Mt. Zion facility is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction application.
July 17, 2014
11:41 EDTPPGPPG Industries names Michael McGarry as COO, effective August 1
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08:14 EDTPPGPPG remains 'highly focused' on deploying 'strong' cash position
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08:13 EDTPPGPPG reports Q2 adjusted EPS from cont. ops $2.83, consensus $2.77
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July 16, 2014
15:27 EDTMASNotable companies reporting before tomorrow's open
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