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Stock Market & Financial Investment News

News Breaks
February 19, 2013
19:30 EDTRAIL, NAVFreightCar America sub-leases railcar manufacturing facility from Navistar
FreightCar America (RAIL) announced that it has sub-leased approximately 25% of Navistar's (NAV) Cherokee, Alabama manufacturing facility. FreightCar is preparing the Shoals facility for operation, with the first deliveries of new railcars expected in 2H. When fully operational, the facility will have the capacity to build over 7,000 railcars per year. In connection with the transaction, the company also entered into several related agreements with Navistar for the supply of parts and production support services and the purchase of production equipment at the Shoals facility. The company expects to invest up to $23M to equip and make the facility operational.
News For RAIL;NAV From The Last 14 Days
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February 20, 2015
12:53 EDTNAVCitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
February 19, 2015
09:26 EDTRAILFreightCar America price target raised to $42 from $37 at Sterne Agee
After FreightCar reported higher than expected Q4 revenue but lower than expected EPS, Sterne Agee believes that the company is benefiting from rising non-coal rail car order flow. The firm thinks the company's lower Q4 margins is a temporary phenomenon. It keeps a Buy rating.
February 17, 2015
17:06 EDTNAVIcahn gives quarterly update on stakes, takes new stake in Manitowoc
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16:37 EDTRAILFreightCar America reports Q4 EPS 39c, consensus 46c
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