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Stock Market & Financial Investment News

News Breaks
April 22, 2013
20:25 EDTXRX, XRX, RF, RF, DAL, DAL, COH, COH, IR, IR, PNR, PNR, PCAR, PCAR, APD, APD, JCI, JCI, RAI, RAI, ITW, ITW, LMT, LMT, TRV, TRV, DD, DD, UTX, UTXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include United Technologies (UTX), consensus $1.30; DuPont (DD), consensus $1.52; Travelers (TRV), consensus $2.02; Lockheed Martin (LMT), consensus $2.04; Illinois Tool Works (ITW), consensus 96c; Reynolds American (RAI), consensus 69c; Johnson Controls (JCI), consensus 42c; Air Products & Chemicals (APD), consensus $1.37; PACCAR (PCAR), consensus 68c; Pentair (PNR), consensus 56c; Ingersoll-Rand (IR), consensus 40c; Coach (COH), consensus 81c; Delta Air Lines (DAL), consensus 6c; Regions Financial (RF), consensus 20c; Xerox (XRX), consensus 24c.
News For UTX;DD;TRV;LMT;ITW;RAI;JCI;APD;PCAR;PNR;IR;COH;DAL;RF;XRX From The Last 14 Days
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February 25, 2015
07:31 EDTCOHCoach longer term outlook positive, says Stifel
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07:09 EDTUTXUnited Technologies price target to $138 ahead of Analyst Day at Credit Suisse
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February 24, 2015
17:19 EDTLMTLockheed Martin awarded $129M government contract modification
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11:06 EDTAPDAir Products management to meet with Jefferies
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10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
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07:30 EDTDALJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link
06:29 EDTDALCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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06:28 EDTCOHCoach upgraded to Outperform from Perform at Oppenheimer
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February 23, 2015
16:17 EDTDALBuckeye Partners reduces FY14 revenue by $40M due to settlement discussions
Buckeye Partners (BPL) announced revisions to its financial results for Q4 and FY14 due to a recent development. As has been previously disclosed, commencing in September 2012, Delta Air Lines (DAL), JetBlue (JBLU), United/Continental Air Lines (UAL), US Airways, and American Airlines (AAL) filed complaints with the Federal Energy Regulatory Commission challenging rates for transportation of jet fuel from New Jersey to three New York City area airports charged by Buckeye Pipe Line Company, an operating subsidiary of Buckeye. The Airlines are seeking payments for alleged past excessive charges and prospective tariff rate reductions. As the litigation has progressed, BPLC and the Airlines have continued to pursue settlement discussions. Due to positive developments in those settlement discussions subsequent to Buckeye's issuance of its 2014 earnings on Friday, February 6, Buckeye has recorded a reduction in revenue in the amount of $40M for the year ended December 31, 2014 in accordance with applicable accounting guidance regarding contingencies. This reduction in revenue is a one-time charge; therefore, Adjusted EBITDA and distributable cash flow for 2014 remain as reported on February 6th. The $40M is based upon a settlement offer made by BPLC to satisfy the claims for alleged past excessive charges through December 31, 2014, which offer has not been accepted by the Airlines. "While we continue to pursue settlement of this matter, we are not able to predict with certainty the final outcome of the proceeding, should it be carried through to its conclusion, or whether we can reach a satisfactory settlement and, if so, whether or not it will be on more or less favorable terms," the company said.
14:58 EDTDALDelta, American among airlines interested in Skymark tie-up, Nikkei says
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13:30 EDTLMTIsrael to purchase another 14 of Lockheed Martin's F-35s, Globes says
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10:55 EDTDALStocks with call strike movement; TSLA DAL
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06:51 EDTUTXAerospace sector downgraded to Neutral from Attractive at Goldman
Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.
06:42 EDTLMTLockheed Martin to pay $62M to settle retirement plan lawsuit, WSJ says
Lockheed Martin will pay $62M to settle a civil suit alleging its 401(k) plan charged unreasonable fees, reports the Wall Street Journal, citing legal filings and company statements. As part of the settlement, Lockheed will also have to submit monthly evaluations of certain aspects of its plan, offer new low-cost funds, and solicit bids from at least three large firms to serve as administrative managers of the company's retirement plans. Reference Link
February 20, 2015
14:19 EDTIRTrian lowers stake in Ingersoll-Rand to 4.93% from 5.79%
Trian Group sold an aggregate of 2.4M shares. Following such sales, Trian Group, in the aggregate, beneficially own 12.98M shares, or approximately 4.93% of Ingersoll-Rand outstanding shares. In the future, CalSTRS will make independent investment decisions in respect of its holdings in Ingersoll-Rand and, therefore, Trian Group and CalSTRS no longer constitute a group in respect of their respective holdings in Ingersoll-Rand. Because Trian Groupís holdings in Ingersoll-Rand are now under 5% and it no longer constitutes a group with CalSTRS, Trian Group does not anticipate making future filings in respect of its investment in Ingersoll-Rand.
14:00 EDTIRTrian lowers stake in Ingersoll-Rand to 4.93% from 5.79%
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12:53 EDTPCARCitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
07:14 EDTCOHOppenheimer to hold a tour
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06:27 EDTPCARTrucking stocks likely to outperform S&P 500, says Citigroup
Citigroup says its work indicates trucking stocks respond most directly to economic growth. With the economy on a growth trajectory, Citi expects trucking stocks are likely to outperform the S&P 500. The firm reiterates Buy ratings on Swift Transportation (SWFT) and Knight Transportation (KNX), with a preference for Swift. It also has a Buy rating on Cummins (CMI) and Neutral on PACCAR (PCAR).
06:27 EDTUTXUnited Tech's Sikorsky may look to make military helicopters in India, WSJ says
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