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Stock Market & Financial Investment News

News Breaks
June 12, 2014
07:25 EDTKAMN, CVU, LDOS, EXEL, SAIC, OSIS, BAH, IVAC, AIR, EGL, VSAT, B, ERJ, ESL, TXT, TSYSDrexel Hamilton to hold a conference
2014 Aerospace & Defense Conference to be held in New York on June 12.
News For TSYS;TXT;ESL;ERJ;B;VSAT;EGL;AIR;IVAC;BAH;OSIS;SAIC;EXEL;LDOS;CVU;KAMN 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 EDTERJ, TXTTextron 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%.
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
05:50 EDTBBarnes Group raises quarterly dividend by 9% to 12c per share
The board of Barnes Group increased the company’s quarterly cash dividend 9% to 12c per share of common stock. The dividend will be payable December 10, to shareholders of record at the close of business on November 26. On an annualized basis, the increase raises the annual dividend from 44c per share to 48c per share.
October 16, 2014
15:26 EDTTXTNotable companies reporting before tomorrow's open
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October 15, 2014
14:48 EDTTXTTextron October volatility elevated into Q3 and outlook
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14:24 EDTBBarnes Group diversifies funding profile with $100M private debt placement
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10:49 EDTTXTHigh option volume stocks
High option volume stocks: SNV FCG TXT MDSO PPHM NTRS CCL RGP LLTC SOCL
07:06 EDTEGLEngility Holdings wins $23M contract
Engility Holdings announced it has been awarded a $23M contract to provide engineering and analytical support to help the U.S. Department of Transportation and the Federal Aviation Administration implement the Next Generation Air Traffic Control System. This task order award represents a combination of new and recompete work, and is a cost plus fixed fee contract with a 38-month period of performance.
October 13, 2014
10:17 EDTTXTEbola related weakness in aerospace stocks seen as buying opportunity
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08:04 EDTTXTTextron announces $15.22M foreign military sales contract
Textron Systems Marine & Land Systems, a Textron business, announced a $15.22M firm-fixed-price, foreign military sales contract from the U.S. Army Contracting Command, Warren, MI, to provide 10 COMMANDO Select four-wheeled armored vehicles, along with related fielding hardware and technical services, to the Bulgarian National Military Forces. The vehicles initially will be deployed in support of the International Security Assistance Force in Afghanistan. Work will be performed in Slidell, LA, Hunt Valley, MD, and Afghanistan with vehicle deliveries in the 1Q15. All contract activities are expected to be completed by June 30, 2015.
07:03 EDTSAICSAIC awarded $282M contract by Defense Logistics Agency
Science Applications International Corporation has been awarded an indefinite delivery/indefinite quantity contract by the Defense Logistics Agency to provide maintenance repair and operations tailored logistics support to Department of Defense and federal installations located in Hawaii, Guam and Kwajalein Atoll. The single-award, firm-fixed-price contract has a five-year period of performance and an estimated total contract value of more than $282M.
October 9, 2014
17:14 EDTERJEmbraer breaks ground on 500/450 assembly facility
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October 8, 2014
07:52 EDTSAICSAIC awarded GSA IT schedule 70 contract
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07:02 EDTEGLEngility Holdings wins $9.2M contract to support USMC's DIRINT
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October 7, 2014
10:02 EDTLDOSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air France-KLM (AFLYY) upgraded to Overweight from Underweight at JPMorgan... Alcobra (ADHD) upgraded to Outperform at FBR Capital... Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Becton Dickinson (BDX) upgraded to Buy from Hold at Stifel... CNOOC (CEO) upgraded at Bernstein... CTC Media (CTCM) upgraded to Buy from Hold at Deutsche Bank... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... CalAmp (CAMP) upgraded to Outperform from Neutral at Macquarie... China Unicom (CHU) upgraded to Overweight from Equal Weight at Barclays... Crown Holdings (CCK) upgraded at Macquarie... Dick's Sporting (DKS) upgraded to Buy from Neutral at Goldman... Fortuna Silver Mines (FSM) upgraded to Outperformer from Sector Performer at CIBC... Franco-Nevada (FNV) upgraded to Buy from Hold at TD Securities... Horsehead Holding (ZINC) upgraded to Outperform from Market Perform at FBR Capital... Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman... IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citigroup... International Paper (IP) upgraded at BofA/Merrill... Leidos (LDOS) upgraded to Neutral from Underperform at Credit Suisse... Lennox (LII) upgraded to Positive from Neutral at Susquehanna... MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank... Natus Medical (BABY) upgraded to Outperform at William Blair... Noodles & Company (NDLS) upgraded to Buy from Hold at Jefferies... Phillips 66 (PSX) upgraded to Buy from Neutral at Citigroup... RockTenn (RKT) upgraded to Buy from Neutral at BofA/Merrill... Smith & Nephew (SNN) upgraded to Hold from Sell at Societe Generale... Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum... Sun Life Financial (SLF) upgraded to Overweight from Equal Weight at Barclays... WellCare (WCG) upgraded at Sterne Agee... Yamana Gold (AUY) upgraded to Neutral from Underweight at HSBC.
07:29 EDTTXTTextron awarded four-year, $43.6M JSECST service life contract
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06:15 EDTLDOSLeidos upgraded to Neutral from Underperform at Credit Suisse
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