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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 1, 2014
10:00 EDTARMKOn The Fly: Analyst Initiation Summary
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07:11 EDTARMKARAMARK initiated with an Outperform at Credit Suisse
Target $32.
September 30, 2014
12:11 EDTCTASCintas volatility flat as shares at record high on Q1 results
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September 29, 2014
18:22 EDTCTASOn The Fly: After Hours Movers
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16:46 EDTCTASCintas raises FY15 EPS view to $3.20-$3.29 from $3.06-$3.15, consensus $3.09
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16:21 EDTCTASCintas reports Q1 adjusted EPS 78c, consensus 75c
16:21 EDTCTASCintas reports Q1 EPS 93c with gains, consensus 75c
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15:11 EDTCTASNotable companies reporting after market close
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13:55 EDTCTASCintas technical comments ahead of earnings
In the past three months the shares have outperformed the broader averages, trading up over 4%. The trend has been moderately bullish, with shares trading close to 52-week and life highs at $67.59. On stronger than expected results a test to the current high would be highly probable. On a breakout and in the absence of any resistance, a run to $70 or higher could be possible. If the news is not as positive as traders appear to be positioned for, the following support levels could become downside objectives on an increasing band of disappointments: $63.99, $62.53, and $60.17. The $60 level was resistance on the way up in the prior year and should provide support on a disappointment. A break below $60 on an extreme move would snap the 2-year uptrend.
09:35 EDTARMKARAMARK management to meet with JPMorgan
Meeting to be held in New York on October 3 hosted by JPMorgan.

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