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August 18, 2014
07:57 EDTRRyder awarded contract from Southern Wine & Spirits of America
Ryder announced that it has been awarded a managed maintenance contract by Southern Wine & Spirits of America. Under the contract, Ryder will provide a combination of Comprehensive Maintenance and Preventive Maintenance services for Southernís fleet of 2,200 tractors, trucks and trailers, which supports the companyís various locations across the U.S. The solution will provide Southern with regular inspections, follow-up repairs, proactive parts replacement, emergency roadside assistance and online reports to track maintenance activity and history. The solution offers 24/7 access to Ryderís state of the art maintenance network, professional services of more than 5K skilled certified technicians and more than 700 service facilities across the U.S. Ryderís Preventive Maintenance solution provides regularly scheduled maintenance when and where Southern may need it.
News For R From The Last 14 Days
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October 13, 2015
12:19 EDTROn The Fly: Top stock stories at midday
Stocks began the session in negative territory, but saw their lows a short time after the open and have recovered to be little changed near noon. The same pattern of a lower open and then a drift back to the flat line was seen yesterday as well. There has been little in the way of macroeconomic news as investors begin to turn their attention to the earnings season. One of the largest healthcare companies in the world, Johnson & Johnson (JNJ), reported on its results this morning and JPMorgan (JPM) and Intel (INTC) headline today's earnings schedule after the close. ECONOMIC EVENTS: In the U.S., NFIB's small business optimism index rose slightly to 96.1 in September, versus an expected downtick to a forecasted reading of 95.5. In China, imports dropped for the eleventh straight month, sliding 17.7% in yuan terms in September. Exports from the Asian giant, meanwhile, fell 1.1% last month. In Europe, the ZEW Center's index of German investor and analyst expectations fell to 1.9 in October, which was worse than the decline to 6.5 expected by economists. COMPANY NEWS: Molson Coors (TAP) was the best performer on the S&P 500, rising 10% after Anheuser-Busch InBev (BUD) said it is willing to pay 44 pounds per share in a proposed takeover of SABMiller (SBMRY). Such a deal, which would be valued near $106B, would create a brewer accounting for a third of global beer sales, but could benefit Molson Coors, which is seen as the most likely buyer of the MillerCoors joint venture it shares with SABMiller. In connection with the possible offer, AB InBev said it would agree to a fee of $3B payable to SABMiller if the deal fails to close due to a failure to obtain regulatory clearances or the approval of AB InBev shareholders. MAJOR MOVERS: Among the notable gainers was SAP (SAP), which rallied over 5% after it reported preliminary Q3 earnings that were higher than the same period of last year. Also rising was Wausau Paper (WPP), which jumped 39% after it agreed to be acquired by SCA for $513M in cash. Among the noteworthy losers was Ryder (R), which fell 8% after it cut its Q3 and FY15 comparable earnings guidance due to reduced earnings growth in its Fleet Management unit. Also lower was HeartWare (HTWR), which lost 16% after it said in a regulatory filing that it may not re-initiated enrollment in its MVAD clinical trial in November, as planned, after halting it on September 9. INDEXES: Near midday, the Dow was up 11.36, or 0.07%, to 17,143.22, the Nasdaq was up 3.88, or 0.08%, to 4,842.52, and the S&P 500 was up 0.12, or 0.01%, to 2,017.58.
11:42 EDTRRyder sinks after cutting Q3, FY15 profit outlook
Shares of transport company Ryder System (R) are sinking after the firm lowered its profit outlook for the third quarter and fiscal year2015. WHAT'S NEW: On Monday after the close, Ryder cut its Q3 comparable earnings per share view to $1.72-$1.74 from $1.82-$1.87, well below analysts' consensus estimates of $1.86. The also cut its FY15 comparable EPS outlook to $6.17-$6.29 from $6.45-$6.55, far short of analysts' consensus estimates of $6.49. Looking ahead to the fourth quarter, the company forecast comparable EPS of $1.72-$1.82, compared to analysts' consensus estimates of $1.89. WHAT'S NOTABLE: Ryder said it slashed its earnings guidance for Q3 and FY15 due to lower than expected earnings growth in its Fleet Management Solutions business segment. The company noted that the lowered guidance is due to "a temporary execution issue," related to record fleet growth, which the company expects to resolve during Q4, as well as less robust demand conditions in used vehicle sales. The company noted that while commercial rental demand remained robust and rental revenue grew by 7% in Q3, earnings were impacted by "a greater than planned" number of out-of-service vehicles during the quarter, which resulted in lower than expected rental utilization. The company anticipates rental demand in Q4 to be "generally consistent" with prior expectations, the company said, but added that it expects earnings to be impacted as the company resolves the out-of-service vehicle issue. Ryder said it expects Q4 results to continue to be impacted by reduced used truck sales volumes and lower price expectations "that are now consistent with prior-year pricing." ANALYST REACTION: This morning, analyst commentary was mixed. Stifel said it's still upbeat on Ryder's outlook because the company continues to grow. The firm thinks that the company should benefit from continued positive truck outsourcing trends. The firm cut its price target on Ryder to $94 from $103, but kept a Buy rating on the shares. Wells Fargo said the company's lease and rental businesses remain strong. The firm cut its price target on the name to $91-$94 from $108-$111 but kept an Outperform rating on the shares. Stephens analyst Justin Long lowered his price target on Ryder shares to $86 from $110. Long noted that the impact of risk in the used market appears to have been felt sooner than anticipated, prompting him to take a "much more conservative" view on gains on sale in the next year. However, the analyst kept an Overweight rating on Ryder, citing strong trends in the core business and a risk/reward in shares that he viewed as attractive. PRICE ACTION: In late morning trading, Ryder fell $6.71, or about 9%, to $68.90 on more than three times its average daily trading volume. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the transport industry include J.B. Hunt Transportation (JBHT), down 1.6%, Hub Group (HUBG), down 1.9%, Swift Transportation (SWFT), down 3.4%, Knight Transportation (KNX), down 3.2%, and USA Truck (USAK), down 0.2%.
09:28 EDTRRyder falls in pre-market trading
Shares were last down over 6% to $70.90. At that price next support is at $69.55, the 52-week low. Resistance is at $71.39.
09:18 EDTRRyder earnings still poised to grow over 15%, says Wells Fargo
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08:25 EDTRRyder price target lowered to $86 from $110 at Stephens
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07:21 EDTRRyder valuation attractive, says Stifel
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October 12, 2015
19:00 EDTROn The Fly: After Hours Movers
HIGHER: Amgen (AMGN), up moderately after reporting results from its seven-year Phase 3 Evaluation of Denosumab. DOWN AFTER EARNINGS: Ryder (R), down 7.5%. ALSO LOWER: FMC Corporation (FMC), down 8.8% after cutting its fiscal 2015 EPS view... Collegium Pharmaceutical (COLL), down 5.4% after announcing that the FDA will not complete its review of its New Drug Application for Xtampza ER... Fortress (FIG), down 4.4% following reports that the company will close its macro hedge fund... JetBlue (JBLU), down 2.1% after reporting September traffic.
17:52 EDTRRyder down 7.4% to $70.05 after cutting Q3, FY15 comparable EPS views
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16:26 EDTRRyder revises guidance due to reduced earnings growth in Fleet Management unit
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16:20 EDTRRyder cuts FY15 comparable EPS to $6.17-$6.29 from $6.45-$6.55
Cuts FY15 comparable EPS to $6.17-$6.29 from $6.45-$6.55, consensus $6.49.
16:19 EDTRRyder sees Q4 comparable EPS $1.72-$1.82, consensus $1.89
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16:19 EDTRRyder cuts Q3 comparable EPS to $1.72-$1.74 from $1.82-$1.87
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