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Stock Market & Financial Investment News

News Breaks
January 8, 2014
08:23 EDTCAG, NL, SHWSherwin-Williams, others ordered to pay over $1B for lead paint, Bloomberg says
Sherwin-Williams (SHW), NL Industries (NL) and a subsidiary of ConAgra (CAG) were ordered to pay $1.15B to replace or contain lead paint in millions of California homes in a final court order that increased the amount the companies must pay by $50M, reported Bloomberg. Reference Link
News For SHW;NL;CAG From The Last 14 Days
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February 1, 2016
16:09 EDTCAGConAgra sees $1.6B tax asset from sale of private label operations to TreeHouse
ConAgra Foods announced the completion of the sale of its private label operations to TreeHouse Foods for proceeds of $2.7B in cash, excluding transaction-related expenses and subject to post-closing adjustments. A total of approximately 9,500 employees transitioned to TreeHouse Foods, including plant employees and those supporting the private label business located at the St. Louis, Mo., Downers Grove, Ill., and Omaha, Neb., office locations. Certain private label operations with a strong connection to ConAgra Foods' existing Consumer Foods business were not part of the sale, specifically canned pasta, cooking spray, peanut butter, pudding/gels, Gelit frozen pasta product offerings, as well as the HK Anderson and Kangaroo brand equities, trademarks and business portfolios. Results for these operations, which were not material, were moved to the Consumer Foods reporting segment in Q1. ConAgra Foods generated approximately $2.7B in cash proceeds from the sale, less transaction expenses, and intends to utilize the net proceeds primarily for debt reduction. The company expects the transaction to result in a tax asset of approximately $1.6B, which can be used to offset potential future capital gains over the next five years.
January 28, 2016
07:08 EDTSHWSherwin-Williams sees Q1 EPS $1.50-$1.65 , consensus $1.62
The company said: ""In the first quarter of 2016, we anticipate our consolidated net sales will increase a low single digit percentage compared to the first quarter of 2015. At that anticipated sales level, we estimate diluted net income per common share in the first quarter of 2016 will be in the range of $1.50 to $1.65 per share compared to $1.38 per share earned in the first quarter of 2015."
07:07 EDTSHWSherwin-Williams sees FY16 EPS $12.20-$12.40, consensus $12.75
The company said: "For the full year 2016, we expect consolidated net sales to increase a low single digit percentage compared to full year 2015. With annual sales at that level, we anticipate diluted net income per common share for 2016 will be in the range of $12.20 to $12.40 per share compared to $11.16 per share earned in 2015."
07:06 EDTSHWSherwin-Williams reports Q4 EPS $2.12, consensus $1.87
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