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Stock Market & Financial Investment News

News Breaks
May 20, 2014
09:17 EDTUTX, UPSUnited Technologies unit expands 3PL relationship with UPS
Pratt & Whitney, a unit of United Technologies (UTX), announced the expansion of its third-party logistics, or 3PL, relationship with UPS (UPS). As part of the agreement announced, UPS will open a 600,000-square-foot Northeast Logistics Center, or NELC, in Londonderry, New Hampshire, to serve as a centralized distribution center for Pratt & Whitney parts, tooling and supplies. This logistics center will support Pratt & Whitney's manufacturing and global engine assembly and test sites. Set to open in June 2015, UPS will operate the NELC and provide parts receipt, storage, building of manufacturing and assembly kits, packing, inventory management and freight transportation.
News For UTX;UPS From The Last 14 Days
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October 24, 2014
07:29 EDTUPSUPS, FedEx up efforts to handle holiday season package buildup, Reuters says
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October 23, 2014
15:39 EDTUPSNotable companies reporting before tomorrow's open
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14:08 EDTUPSEarnings Preview: UPS sentiment mixed ahead of Q3 report
United Parcel Service (UPS) is expected to report third quarter earnings on Friday, October 24, before the market open with a conference call scheduled for 8:30 am ET. UPS is a package delivery company and provider of global supply chain management solutions. EXPECTATIONS: Analysts are looking for earnings per share of $1.29 on revenue of $14.2B, according to First Call. The consensus range for EPS is $1.24-$1.35 on revenue of $14.01B-$14.41B. LAST QUARTER: UPS reported second quarter adjusted EPS of $1.21 against estimates for $1.25, on revenue of $14.27B against estimates for $14.1B. On its Q2 report, the company lowered its fiscal 2014 adjusted EPS view to $4.90-$5.00 from the "low end" of the $5.05-$5.30 range, compared to consensus of $5.09. The company announced plans to increase 2014 operating expense for capacity and peak related projects to a total of $175M. CFO Kurt Kuehn said, "These initiatives will increase operating expense this year, but will provide financial benefits for years to come." On its Q2 conference call, management said it would treat Black Friday as a full operating day this year. They expect a "very strong" peak season and said "all options are on the table" going forward after they evaluate their peak season performance, including consideration of a surcharge. STREET RESEARCH: Street research has been mixed in the weeks leading up to UPS’s Q3 earnings report. On July 30 Bernstein said weakness in UPS shares was overdone following its Q2 report. Bernstein remained encouraged by the company's U.S. margins and volume growth. It viewed the stock as undervalued and kept an Outperform rating on the shares. On July 31, Atlantic Equities downgraded UPS to Neutral from Overweight. On September 26, Argus said UPS weakness created a buying opportunity. Argus noted that UPS had already begun hiring temporary workers and building remote villages ahead of the 2014 holiday shopping season. The firm thought the company will benefit from these extra workers into 2015, and it expects the company to benefit from a number of positive trends. It said the stock has a fair value of $115 and kept a Buy rating on the shares. PRICE ACTION: UPS shares have traded modestly higher since Q2 results were released. The stock has gained over 7% over the past twelve months. In afternoon trading ahead of Friday's Q3 report, UPS shares are up more than 1.8%.
October 22, 2014
10:24 EDTUPSUPS October weekly volatility elevated into Q3 and outlook
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October 21, 2014
16:36 EDTUTXOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
12:57 EDTUTXOn The Fly: Midday Wrap
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09:53 EDTUTXUnited Technologies: We're still fishing for the big acquisition
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09:35 EDTUTXUnited Technologies: Biggest challenge is Pratt because there's no growth there
09:31 EDTUTXUnited Technologies expects share count to increase in FY15
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09:25 EDTUTXUnited Technologies expects FY15 earnings to be in mid single digit mark
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09:25 EDTUTXUnited Technologies sees Pratt & Whitney growth to be in high end of guidance
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09:15 EDTUTXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Apple (AAPL), up 3%... Texas Instruments (TXN), up 2.3%... Harley Davidson (HOG), up 7%... Celanese (CE), up 4%... United Technologies (UTX), up 1.4%. ALSO HIGHER: Neonode (NEON), up 20% after signing technology development agreement with global tier-one printer OEM... Illumina (ILMN), up 10%, upgraded at Janney Capital following the company's better than expected Q3 earnings. DOWN AFTER EARNINGS: Coca-Cola (KO), down 5%... Chipotle (CMG), down 4.6%... Verizon (VZ), down 1%. ALSO LOWER: CEL-SCI (CVM), down 15.3% after announcing proposed offering of common stock, warrants... Omeros (OMER), down 12% after suspending Huntington's clinical trial with OMS824... Tesoro Logistics (TLLP), down 2.4% after 20M share secondary priced at $57.47... Rhino Resources (RNO), down 53%, downgraded to Underperform at Raymond James following the reduction in its quarterly cash dividend.
09:11 EDTUTXUnited Technologies: US economy continues to improve, Europe shows uncertainty
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09:03 EDTUTXUnited Technologies reports Q3 organic growth of 5%
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07:04 EDTUTXUnited Technologies reaffirms FY14 EPS view $6.75-$6.85, consensus $6.84
UTC Chairman and CEO Louis Chenevert said, "With double-digit earnings and 4% organic sales growth through the first three quarters, UTC remains on track to deliver on our expectations for the year. Our solid backlog and organic growth trends continue to give us confidence in our earnings per share range of $6.75 to $6.85, on sales of about $65B." FY14 revenue consensus $65.26B. UTC now expects share repurchase of $1.5B for the year, up from the previous expectation of $1.35B. As a result of ongoing investment to support the aerospace upcycle, the company continues to anticipate 2014 cash flow from operations less capital expenditures of about 90% of net income attributable to common shareowners.
07:01 EDTUTXUnited Technologies reports Q3 EPS ex-items $1.82, consensus $1.81
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October 20, 2014
16:39 EDTUPSUPS 2015 rates for ground, air, international,freight, air freight to be up 4.9%
UPS released new published rates for 2015. UPS Ground, Air, International, UPS Freight, and UPS air freight rates within and between the U.S., Canada, and Puerto Rico will increase an average of 4.9%. The increase is effective Dec. 29.
15:36 EDTUTXNotable companies reporting before tomorrow's open
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12:36 EDTUTXUnited Technologies technical notes ahead of earnings
In the past three months the shares have traded down more than 10%, underperforming the broader averages. The trend is distinctly down in the past three months, but that is part of a larger trend that began after price peaked in early June of this year. The long-term uptrend line has also been broken by this recent price action, leaving the technical picture distinctly bearish. If earnings and outlook continue to be below expectations, next support would be at $99.83. Additional downside objectives, on an increasing scale of bearish news, may be at the following support levels: $96.53, $92.94, and $91.15. If the news surprises on the upside, first major resistance would be at $106.07. A move above that level would put the stock back on a more neutral price path. Additional upside objectives might be at resistance at $109.22, and $110.06.
October 19, 2014
12:58 EDTUTXUnited Technologies worth a second look, Barron's says
United Technologies stock valuation and dividend yield are starting to look attractive at current levels and if the market rebounds, then the stock should outperform, Barron's contends in its 'The Trader' column. Reference Link
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