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Stock Market & Financial Investment News

News Breaks
April 24, 2014
06:34 EDTOCOwens Corning roofing concerns overdone, says Longbow
After Owens Corning reported Q! EPS that came in below the consensus estimate, Longbow believes that concerns about the company's roofing business are overdone. The firm expects the company's roofing profits to accelerate with the improvement in weather. and price increases It trimmed its price target to $50 from $51 but keeps a Buy rating.
News For OC From The Last 14 Days
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October 22, 2014
11:14 EDTOCHigh option volume stocks
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07:30 EDTOCOwens Corning: Insulation business expected to return 50% operating leverage
Expects Insulation business to produce $100M or more EBIT in an environment of 1M US housing starts. Expects Composites business 2014 EBIT improvement of about $40M, largely driven by higher pricing. Expects Roofing business to be down in 2H14 and FY14 from prior year, with operating margins to be below guidance of average operating margins of mid-teens or higher. Corporate expenses in FY14 is expected to be $80M. Sees FY14 CapEx $370M. Sees FY14 adjusted effective tax rate of 28%-30%. The company had previously guided that it expected full-year adjusted EBIT to grow versus 2013. Continued weakness of roofing market shipments in the second half creates $15 million of downside risk versus last year's adjusted EBIT performance of $416 million.
07:29 EDTOCOwens Corning reports Q3 adjusted EPS 63c, consensus 49c
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October 20, 2014
07:19 EDTOCOwens Corning downgraded at Wedbush
As previously reported, Wedbush downgraded Owens Corning to Neutral from Outperform. The firm downgraded shares based on continued pricing and margin pressures following a competitor dropping prices and a more challenging roofing environment. Price target lowered to $35 from $43.
07:14 EDTOCOwens Corning downgraded to Neutral from Outperform at Wedbush

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