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Stock Market & Financial Investment News

News Breaks
January 24, 2013
16:07 EDTWAIR, TGIWesco Aircraft announces contract extension with Triumph Aerostructures
Wesco Aircraft (WAIR) announced an extension of an existing just-in-time contract with Triumph Aerostructures - Vought Aircraft Division, a subsidiary of Triumph Group (TGI). The agreement extends the existing agreement through October 31, 2016.
News For WAIR;TGI From The Last 14 Days
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February 12, 2016
11:18 EDTTGIBattleground: Analysts split on Boeing in wake of SEC probe report
Two research firms disagreed on the outlook for Boeing (BA) after Bloomberg yesterday reported that the SEC was investigating the company's accounting practices. Specifically, the agency is probing whether the airplane maker kept investors sufficiently updated about the production costs and sales of its 787 Dreamliner and 747 jumbo jet planes, the news service stated. BEARISH TAKE: Calling the news "the straw that broke the camel's back," JPMorgan analyst Seth Seifman downgraded Boeing to Neutral from Overweight. The primary risk to Boeing from the probe is that it will cause expectations for cash flows from the 787 to become "impaired," the analyst stated. Although Seifman believes that this outcome is "unlikely," he noted that cash flow from the 787 was central to his previously positive thesis about the stock. Additionally, he believes that the probe will reduce investors' already low confidence in the stock. The analyst cut his price target on the name to $120 from $142. BULLISH TAKE: The SEC probe will not hurt Boeing, as the company has been using the same accounting practices "for decades" and is "highly audited," wrote Sterne Agee CRT analyst Peter Arment. Moreover, it's too early in the 787's life cycle to accuse the company of misstating its costs, Arment contended. Additionally, 787 production costs should continue to decline, partly due to productivity gains and lower labor costs, he said. The analyst kept a $196 price target and Buy rating on the shares. SUPPLIERS: In a separate note to investors yesterday, JPMorgan's Seifman noted that Boeing suppliers Spirit (SPR) and Triumph (TGI) use a different variation of program accounting and that this issue potentially may have no implications for them. PRICE ACTION: In late morning trading, Boeing added 0.5% to $109 after dropping nearly 7% yesterday.
February 11, 2016
12:53 EDTTGISpirit, Triumph use different accounting method than Boeing, says JPMorgan
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February 4, 2016
16:34 EDTWAIRWesco Aircraft sees low single-digit net sales growth in FY16
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16:33 EDTWAIRWesco Aircraft reports Q1 adjusted EPS 25c, consensus 24c
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