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News Breaks
January 22, 2014
08:02 EDTTWITitan International volatility may move on MHR Fund Management stake
Titan International option implied volatility may pick up after MHR Fund Management disclosed a 10.9% stake in the company and said in a regulatory filing that it will seek to engage in talks with Titan management. Overall option implied volatility of 42 is above its 26-week average of 39 according to Track Data, suggesting large price movement.
News For TWI From The Last 14 Days
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November 24, 2015
16:17 EDTTWITitan International sold assets of its North American business
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November 19, 2015
10:26 EDTTWIGoldman says sell Titan with ag and mining weakness expected to continue
Goldman Sachs downgraded Titan International (TWI) to Sell from Neutral today, saying that weakness in agriculture and mining would continue to weigh on the company's results. Goldman's downgrade comes after the company reported much weaker than expected results on November 6. Titan makes tires and wheels used in off-road vehicles which are utilized by farmers and mining and construction companies. WHAT'S NEW Titan derives 80% of its revenue from agriculture and mining, so the weakness in those sectors will continue to hurt its results going forward, wrote Goldman analyst David Tamberino. Additionally, farmers have less money to spend on capital projects, reducing the likelihood that they will adopt Titan's new LSW tires, according to the analyst. Given these factors and the January 2017 maturity of Titan's convertible note, the company could be faced with a cash crunch, the analyst warned. Moreover, Titan is facing increased competition, according to Tamberino. He sharply lowered his 2015-2017 earnings before interest, taxes, depreciation and amortization estimates for the company and slashed his price target on the name to $3 from $8. WHAT'S NOTABLE: Deere (DE), Caterpillar (CAT), and AGCO (AGCO) sell heavy machinery used in agriculture. PRICE ACTION: In early trading, Titan sank 11% to $4.50.
10:00 EDTTWIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded to Neutral from Accumulate at Seaport Global... Bloomin' Brands (BLMN) downgraded to Buy from Conviction Buy at Goldman... Brinker (EAT) downgraded to Neutral from Buy at Goldman... Civitas Solutions (CIVI) downgraded to Outperform from Strong Buy at Raymond James... Columbia Sportswear (COLM) downgraded on a more cautious outloook at BofA/Merrill... Fairchild (FCS) downgraded to Neutral from Buy at Citi... Lennox (LII) downgraded to Neutral from Buy at Longbow... Newfield Exploration (NFX) downgraded to Neutral from Buy at Goldman... Regis (RGS) downgraded to Neutral from Overweight at Piper Jaffray... Synergy Resources (SYRG) downgraded to Accumulate from Buy at KLR Group... Titan International (TWI) downgraded to Sell from Neutral at Goldman... eLong (LONG) downgraded to Hold from Buy at Brean Capital.
09:16 EDTTWIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
05:30 EDTTWITitan International downgraded to Sell from Neutral at Goldman
Goldman Sachs analyst David Tamberrino downgraded Titan International to Sell saying weakness the in agriculture and mining markets will continue to weigh on the company's results. Tamberrino cut his price target for shares to $3 from $8.

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