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Stock Market & Financial Investment News

News Breaks
March 18, 2014
04:55 EDTPH, PH, PH, PH, SI, SI, SI, SI, UTX, UTX, UTX, UTX, OSK, OSK, OSK, OSK, TKR, TKR, TKR, TKR, AGCO, AGCO, AGCO, AGCO, ALSN, ALSN, ALSN, ALSN, DCI, DCI, DCI, DCI, URI, URI, URI, URI, GNRC, GNRC, GNRC, GNRC, HON, HON, HON, HON, MMM, MMM, MMM, MMM, TXT, TXT, TXT, TXT, ETN, ETN, ETN, ETNBofA/Merrill to host a conference
Global Industrials & EU Autos Conference 2014 is being held in London, England on March 18-21.
News For PH;TXT;MMM;HON;GNRC;URI;DCI;ALSN;AGCO;TKR;OSK;UTX;SI;ETN From The Last 14 Days
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October 17, 2014
12:52 EDTTXTOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
11:58 EDTTXTTextron rallies after better than expected Q3 EPS, raising FY14 profit outlook
Shares of aircraft and defense company Textron (TXT) are advancing after the firm reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. WHAT'S NEW: Textron this morning reported Q3 EPS from continuing operations of 57c and revenue of $3.43B, compared to consensus of 52c and $3.63B, respectively. Aviation revenue for the quarter came in at $1.08B, Bell revenue was $1.18B, Systems revenue was $358M, Industrial revenue was $785M and Finance revenue was $25M for the quarter. Chief Executive Officer Scott Donnelly said commented that the increased revenues at Aviation, Industrial and Bell primarily reflected the success of its new product investment and acquisition strategies. Donnelly said the company achieved significant margin improvement in the quarter at Textron Aviation, which reflected higher volumes and better performance. Bell also had improved performance in Q3, Donnelly said, leading to an increase in quarterly margins compared to last year. WHAT’S NOTABLE: The company raised its FY14 EPS from continuing operations view to $2.05-$2.15 from $1.92-$2.12, in line with analysts' consensus estimates of $2.07. Textron also raised its FY14 outlook for cash flow from continuing operations of the manufacturing group before pension contributions to $700M-$800M, with expected pension contributions of around $83M. On the company's earnings conference call, management said it saw a pickup of orders in September and October in the new aircraft market. The company said it is also seeing significant contributions from its M&A investments. PRICE ACTION: In late morning trading, Textron rose $4.16, or about 12.4%, to $37.82 on heavy trading volume. Including today’s advance, the stock has gained approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies in the aircraft and defense business include Boeing (BA), up 2.6%, Spirit Aerosystems (SPR), up 3.8%, and Embraer SA (ERJ) up 3.9%.
10:11 EDTHONHoneywell says 'never say never' on larger acquisitions priced $5B-$10B
The company said, "We've never done it, but doesn't mean we won't."
10:05 EDTHONHoneywell says strength of US dollar will be minor headwind in 2015
09:56 EDTHONHoneywell 'confident' in FY14 EPS achieving high end of guidance
Comments taken from Q3 earnings conference call.
09:23 EDTHONHoneywell sees short cycle steady growth with relative strength in US
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07:07 EDTHONHoneywell planning for a slow growth macro environment in 2015
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07:07 EDTHONHoneywell reports Q3 organic sales growth 5%
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07:03 EDTHONHoneywell reports Q3 segment margin 17.4%, Q3 operating income margin 16.2%
07:03 EDTHONHoneywell raises FY14 EPS to $5.50-$5.55 from $5.45-$5.55, consensus $5.54
Raises FY14 revenue to $40.3B-$40.4B from $40.2B-$40.4B, consensus $40.39B; Raises FY14 segment margin to 17% from 16.8%-17%; Raises FY14 operating income margin to 15.6% from 15.4%-15.6%; Narrows FY14 free cash flow to $3.9B from $3.8B-$4B
07:00 EDTHONHoneywell reports Q3 EPS $1.47, consensus $1.41
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06:33 EDTTXTTextron reports Q3 Aviation revenue $1.08B, Q3 Bell revenue $1.18B
Reports Q3 Systems revenue $358M, Q3 Industrial revenue $785M, Finance revenue $25M.
06:32 EDTTXTTextron raises FY14 EPS cont ops to $2.05-$2.15 from $1.92-$2.12
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06:31 EDTTXTTextron reports Q3 EPS cont ops 57c, consensus 52c
Reports Q3 revenue $3.43B, consensus $3.63B
October 16, 2014
15:26 EDTTXT, HONNotable companies reporting before tomorrow's open
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15:07 EDTTKRTimken, others interested in Emerson power transmission unit, Reuters says
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15:01 EDTHONHoneywell October 87 straddle priced for 2.7% move into Q3
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11:17 EDTAGCOTitan downturn warning seen as negative for Deere, AGCO
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09:41 EDTAGCOTitan outlook negative for AGCO, Deere, says Wells Fargo
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07:31 EDTURIUnited Rentals reported strong Q3 results, says Oppenheimer
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