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Stock Market & Financial Investment News

News Breaks
June 20, 2014
07:32 EDTOCOwens Corning cuts FY14 adjusted EBIT to $416M from $500M
Cuts roofing volumes in 1H14 to be 20% lower than 1H13 volumes. The company expects to recover a portion of this volume shortfall in the second half of the year. However, continued weakness in the second quarter has introduced further uncertainty in the full-year financial outlook for the company's roofing business. The company continues to see improvement in the year-over-year performance of both its insulation and composites businesses. Earnings growth in these two businesses is expected to more than offset the weaker financial performance in the roofing business year over year.
News For OC From The Last 14 Days
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February 11, 2016
08:05 EDTOCOwens Corning reported good results, says Stifel
Stifel says that Owens Corning's results show that all of its business units are performing well. The firm thinks that the stock is attractive and keeps a Buy rating on the shares. .
February 10, 2016
07:26 EDTOCOwens Corning sees FY16 general corporate expenses $120M-$130M
Owens Corning anticipates all three businesses will grow earnings in 2016 based on consensus expectations for U.S. housing starts and moderate global growth. In Composites, the company expects continued growth in the glass fiber market driven by moderate global industrial production growth. The company expects Composites to increase EBIT by at least $20Min 2016, on price and volume improvements. In Roofing, Owens Corning anticipates modest market growth in 2016, primarily driven by growth in new construction markets. Weaker oil prices should provide opportunity for further asphalt cost deflation. In Insulation, the company expects revenue growth will be slightly weaker than the growth experienced in 2015. While Owens Corning expects margin expansion, the magnitude of the improvement could fall below that experienced in 2015 and is dependent upon the progression of pricing and volume in the U.S. residential new construction market. The company estimates an effective tax rate of 32%-34%, and a cash tax rate of 10%-12% on adjusted pre-tax earnings, due to the company's $2B U.S. tax net operating loss carryforward. The company expects general corporate expenses to be $120M-$130M in 2016. Capital additions in 2016 are expected to total approximately $385M, including an estimated $50M for the completion of the previously announced mineral fiber insulation facility. Interest expense is expected to be about $110M.
07:24 EDTOCOwens Corning board increases quarterly dividend 6% to 18c per share
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07:24 EDTOCOwens Corning reports Q4 adjusted EPS 66c, consensus 45c
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February 9, 2016
14:36 EDTOCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Time Warner (TWX), consensus $1.01... Humana (HUM), consensus $1.45... Owens Corning (OC), consensus 45c... Carlyle Group (CG), consensus 31c... Medidata (MDSO), consensus 24c.
11:32 EDTOCOptions with increasing put volume
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11:18 EDTOCOptions with increasing call volume; CERS WYN NVS ZIOP PZM PI OC DB MLM
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