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Stock Market & Financial Investment News

News Breaks
April 2, 2014
11:26 EDTUNF, ARMK, 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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October 27, 2014
10:00 EDTARMKOn The Fly: Analyst Upgrade Summary
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05:51 EDTARMKARAMARK upgraded to Buy from Neutral at Goldman
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October 23, 2014
10:01 EDTUNFOn The Fly: Analyst Upgrade Summary
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06:15 EDTUNFUniFirst upgraded to Outperform from Neutral at RW Baird
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October 22, 2014
08:06 EDTUNFUniFirst sees FY15 EPS $5.75-$6.00, consensus $5.82
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08:02 EDTUNFUniFirst reports Q4 EPS $1.43, consensus $1.31
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October 21, 2014
08:17 EDTCTASCintas board approves increased annual dividend of 85c, special dividend
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