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Stock Market & Financial Investment News

News Breaks
April 2, 2014
11:26 EDTARMK, UNF, CTASUniFirst tumbles after results, guidance trail expectations
Shares of UniFirst (UNF), a provider of workplace uniforms and protective work wear clothing, are falling after the company's second quarter results and fiscal 2014 guidance trailed analysts' consensus estimates. WHAT'S NEW: This morning, UniFirst reported Q2 adjusted earnings per share of $1.27 and revenue of $344M, compared to expectations of $1.39 and $347.49M, respectively. The company forecast FY14 EPS of $5.60-$5.75, trailing the consensus of $5.91, while FY14 revenue was seen at $1.372B-$1.385B, compared to consensus of $1.38B. On January 8, the company had guided FY14 EPS at the high end of the $5.60-$5.85 range and FY14 revenue at the high end of the $1.372B-$1.385B range. WHAT'S NOTABLE: UniFirst CEO Ronald Croatti said, "Our revised outlook for the remainder of the year reflects lower expectations for our Specialty Garments and First Aid segments as well as an assumption that the recent decline in the value of the Canadian dollar and higher energy prices will continue to influence our results. As a reminder, fiscal 2014 will be a 52 week year for the company compared to fiscal 2013, which was a 53 week year. The negative comparison of one less week of operations will have the impact of reducing our year over year revenues by approximately 2.0% and our fourth quarter revenues by approximately 7.1%." PRICE ACTION: In late morning trading, UniFirst tumbled $10.32, or about 9.2%, to $102.39 on nearly twice its average daily trading volume. Including today's slide, the stock is up about 12% over the past twelve months. OTHERS TO WATCH: Other companies providing workforce uniforms include ARAMARK (ARMK) and Cintas (CTAS).
News For UNF;ARMK;CTAS From The Last 14 Days
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December 22, 2014
10:01 EDTARMKOn The Fly: Analyst Upgrade Summary
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09:35 EDTCTASCintas upgraded to Outperform from Market Perform at Barrington
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09:33 EDTCTASCintas upgraded to Outperform from Market Perform at Barrington
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07:04 EDTARMKARAMARK upgraded at RBC Capital
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06:04 EDTARMKARAMARK upgraded to Top Pick from Outperform at RBC Capital
December 18, 2014
18:22 EDTCTASOn The Fly: After Hours Movers
UP AFTER EARNINGS: Red Hat (RHT), up 9.3%... Pier 1 Imports (PIR), up 8%... NQ Mobile (NQ), up 9.3%... Cintas (CTAS), up 6.3%. ALSO HIGHER: Aratana Therapeutics (PETX), up 25.9% after candidate for dog osteoarthritis shows positive results... Ally Financial (ALLY), up 5% after announcing that it will exit the Troubled Asset Relief Program. DOWN AFTER EARNINGS: Nike (NKE), down 2.7%. ALSO LOWER: American Apparel (APP), down 2.8% after New York Post reports on takeover bid.
16:20 EDTCTASCintas sees FY15 EPS ex-tems $3.20-$3.25, consensus $3.15
Sees FY15 revenue $4.45B-$4.5B , consensus $4.46B. The company said, “We view the state of the U.S. economy as fairly fragile given numerous factors globally and within the U.S., and are hesitant to turn too optimistic. However, we have been pleased with the recent U.S. economic performance and look forward to this current state continuing in the second half of our fiscal year. Based on this view of the U.S. economy and our second quarter results, we are updating our fiscal 2015 guidance. We now expect fiscal 2015 revenue to be in the range of $4.45B-$4.5B, and fiscal 2015 EPS to be in the range of $3.49 to $3.54. This guidance continues to assume no EPS contribution from the partnership with Shred-it International Inc. due to the expectation of first year integration and transition expenses.” Cintas sees FY15 EPS, excluding Special Items, to be $3.20-$3.25.
16:17 EDTCTASCintas reports Q2 continuing ops EPS 86c, consensus 78c
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15:21 EDTCTASNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Nike (NIKE), consensus 70c; Red Hat (RHT), consensus 40c; Cintas (CTAS), consensus 78c; Pier 1 Imports (PIR), consensus 20c; AAR Corp. (AIR), consensus 37c.
December 15, 2014
07:10 EDTCTASCintas volatility increases into Q3 and outlook
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December 12, 2014
06:27 EDTARMKARAMARK 30M share Secondary priced at $28.00
The deal size was increased to 30M shares from 25M shares. Goldman, JPMorgan, Credit Suisse and Morgan Stanley acted as joint book running managers for the offering.
December 10, 2014
16:50 EDTARMKARAMARK files to sell 25M shares of common stock for holders
Goldman, Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, and Morgan Stanley & Co. LLC are acting as joint book-running managers and the representatives of the underwriters, Barclays Capital Inc., BofA Merrill Lynch , RBC Capital Markets LLC, and Wells Fargo Securities, LLC are acting as bookrunners, and Robert W. Baird & Co. Incorporated, PNC Capital Markets LLC, Rabo Securities USA, Inc., Samuel A. Ramirez & Company, Inc., Santander Investment Securities Inc., SMBC Nikko Securities America, Inc., and The Williams Capital Group, L.P. are acting as co-managers of the offering.

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