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News Breaks
March 11, 2014
07:19 EDTUTIWUTi Worldwide price target lowered to $14 from $18 at Stifel
Stifel cut its price target on UTI after the company issued a negative preannouncement and disclosed a "going concern" opinion by its auditors. The firm lowered its estimates for the company significantly, but thinks the company should be able to cut costs later this year. The firm keeps a Buy rating on the stock.
News For UTIW From The Last 14 Days
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October 9, 2015
12:33 EDTUTIWOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Nasdaq hanging onto slight gains and the S&P 500 narrowly in the red. Despite today's lackluster trading, stocks look set to finish with one of their best weekly performances of the year. Investors remain cautious on the upcoming earnings season, and that caution was not allayed at all by the worse than expected report from Alcoa (AA) last night. However, estimates and valuations may have declined enough where perhaps some of the risk has been removed. Without an expected catalyst this afternoon, the market may continue its current drift mode into the close. ECONOMIC EVENTS: In the U.S., import prices slid 0.1% in September, while export prices declined 0.7%. Wholesale inventories edged up 0.1% in August, while sales fell 1.0%. COMPANY NEWS: Shares of Alcoa (AA) declined 5% after it unofficially kicked off the earnings season by reporting lower than expected revenue and profits... Shares of Tesla (TSLA) fell more than 2% after Barclays analyst Brian Johnson downgraded the stock to Underweight, saying it may be "challenged in the months ahead" with negative data points emerging. The analyst, who believes the "slow" Model X ramp supports his view that Tesla will "significantly miss" its 2015 delivery guidance, cut his price target for shares to $180 from $190. MAJOR MOVERS: Among the notable gainers were UTi Worldwide (UTIW) and Daegis (DAEG), which gained 48% and 96%, respectively, after agreeing to be acquired. Also higher was SolarWinds (SWI), which gained 12% after the company confirmed it has commenced a review of its strategic alternatives. Among the noteworthy losers was Ruby Tuesday (RT), which fell 14% after it reported lower than expected Q1 adjusted EPS and revenue. Also lower was LDR Holding (LDRH), which fell 26% after it reported preliminary Q3 revenue that was slightly lower than consensus estimates and reaffirmed its FY15 revenue growth guidance. INDEXES: Near midday, the Dow was up 8.22, or 0.05%, to 17,058.97, the Nasdaq was up 11.04, or 0.23%, to 4,821.82, and the S&P 500 was down 1.44, or 0.07%, to 2,011.99.
09:14 EDTUTIWOn The Fly: Pre-market Movers
HIGHER: UTi Worldwide (UTIW), up 47.7% after agreeing to be acquired by DSV for $7.10 per share in cash... Ascena Retail Group (ASNA), up 3.5% after GGC Public Equities Opportunities reports 9% stake in the company... Fiat Chrysler (FCAU), up 1.8% after Bloomberg reported that Ferrari's IPO could value the company above $12B. DOWN AFTER EARNINGS: Alcoa (AA), down 2.7%. ALSO LOWER: Tesla (TSLA), down 3.3% after being downgraded to Underweight from Equal Weight at Barclays.
05:23 EDTUTIWUTi Worldwide agrees to be acquired by DSV for $7.10 per share in cash
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05:22 EDTUTIWUTi Worldwide agrees to be acquired by DSV for $7.10 per share in cash

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