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Stock Market & Financial Investment News

News Breaks
July 22, 2014
07:06 EDTWATWaters reports Q2 adjusted EPS $1.22, consensus $1.21
Reports Q2 revenue $481.8M, consensus $476.05M.
News For WAT From The Last 14 Days
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January 26, 2016
13:33 EDTWATWaters guidance may be conservative, says Cantor
Cantor Fitzgerald analyst Bryan Brokmeier recommends buying Waters shares amid the stock's post-earnings weakness, saying he believes the company's guidance may be conservative and that there is further upside possible in all of its segments. The analyst, who slightly lowered his 2016 and 2017 revenue estimates to $2.14B and $2.28B, from about $2.16B and $2.3B, has a Buy rating and $163 price target on Waters shares.
12:16 EDTWATOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
08:53 EDTWATWaters sees Q1 EPS $1.17-$1.27, consensus $1.27
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08:52 EDTWATWaters sees FY16 non-GAAP EPS $6.10-$6.35, consensus $6.38
Says poised for "market-leading" growth heading into FY16. Expects FY15 production innovations to gain traction in FY16. Says currency translation reduced sales growth by about 6% in 2015. Sees FY16 gross margins "about equal." Sees FY16 net interest expense about $29M. Comments taken from Q4 earnings conference call.
07:01 EDTWATWaters Corporation reports Q4 non-GAAP EPS $1.96, consensus $1.95
Reports Q4 revenue $587M vs $584M last year.

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