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Stock Market & Financial Investment News

News Breaks
January 31, 2013
08:06 EDTSHWSherwin-Williams sees FY13 EPS $7.45-$7.55, consensus $7.84
Sees consolidated net sales to increase above 2012 levels by a mid single digit percentage, consensus $10.27B. Says guidances excludes any effect from proposed Comex acquisition.
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September 25, 2014
12:17 EDTSHWH.B. Fuller plummets to 52-week low after results, outlook trail estimates
Shares of H.B. Fuller (FUL), which manufactures adhesives, sealants and other specialty chemical products, are sinking after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. WHAT'S NEW: Last night, H.B. Fuller reported Q3 adjusted earnings per share of 42c and revenue of $526.8M, significantly trailing analysts' consensus estimates of 76c and $539.54M, respectively. The company forecast Q4 adjusted EPS of 60c-70c, far below the consensus of 85c. H.B. Fuller increased its fiscal year 2014 CapEx view to $135M from $105M. WHAT'S NOTABLE: H.B. Fuller CEO Jim Owens said, "The delayed and costly execution of our SAP project in North America and European business integration project led to disappointing and unacceptable results this quarter. We took decisive actions to accelerate the completion of our major projects and move to normal operating conditions. More work is to be done in the fourth quarter, but we expect our intensified focus on completing these projects will lead to improved operating performance in the fourth quarter and pave the way for a strong 2015, putting us back on track to achieve our long term goals of 15% EBITDA margin and solid organic growth." On its conference call, management confirmed the 15% EBITDA margin goal, but said it will be delayed at least one year. They expect "significant" improvements in Q4, and FY15, and noted that recent challenges have been project related and can easily be fixed. They expect to launch the Latin America business in mid-2015. PRICE ACTION: In early afternoon trading, H.B. Fuller fell $5.44, or about 12.37%, to $38.54 on over seven times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $36.92. Including today's pull-back, the shares have lost almost 5% over the past 12 months. OTHERS TO WATCH: Other companies in the sealants and chemicals space include Sherwin-Williams (SHW), The Valspar Corporation (VAL), and RPM International (RPM).
September 23, 2014
07:30 EDTSHWUBS to hold a conference
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