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Stock Market & Financial Investment News

News Breaks
July 14, 2014
08:27 EDTUSGUSG downgraded at RBC Capital
As noted earlier, RBC Capital downgraded USG to Sector Perform from Outperform. The firm's expectations for wallboard volume in 2014 are below the consensus outlook. Target to $30 from $34.
News For USG From The Last 14 Days
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February 5, 2016
12:25 EDTUSGUSG advances as pricing and cost control drive Q4 earnings
Shares of building products company USG Corporation (USG) are advancing this morning after reporting higher than expected fourth quarter earnings. WHAT'S NEW: USG reported Q4 EPS of 42c, which handily beat analysts' expectations of 30c per share. The company reported Q4 revenue of $925M, just shy of expectations, as foreign currency unfavorably impacted net sales by $18M in the quarter. USG CEO James Metcalf attributed the improved results to margin expansion in its Gypsum and Ceilings businesses. "Improved pricing in both businesses, coupled with our cost discipline, drove this increased performance," Metcalf noted. On its quarterly earnings conference call, the CEO said the main driver for margin expansion in the quarter was improved pricing of all product categories in the Ceiling segment. The company sees continued strength in its markets in 2016 with overall demand improving 5% in most of its key markets. On its call, USG stressed that it will continue its "relentless cost control program" in 2016. WHAT'S NOTABLE: On its quarterly conference call on January 29, USG Corporation peer Eagle Materials (EXP) noted that its gypsum customers are reporting 5%-7% increase in volume needs for calendar year 2016. ANALYST VIEWS: On January 26, Credit Suisse analyst Michael Dahl downgraded USG to Underperform, saying he sees risk to consensus estimates from increased competition in ceilings and a lack of traction on wallboard pricing. The analyst views the stock's risk/reward as unfavorable and cut his price target for the name to $17 from $26. PRICE ACTION: On a negative day in the broader market, shares of USG Corporation are up almost 5%, while peer Eagle Materials is up fractionally.
08:02 EDTUSGUSG reports Q4 adjusted EPS 42c, consensus 30c
Reports Q4 revenue $925M, consensus $948.42M. Foreign currency unfavorably impacted net sales by $18M in the fourth quarter of 2015.
January 29, 2016
11:00 EDTUSGEagle Materials says gypsum customers reporting 5-7% jump in volume needs
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