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Stock Market & Financial Investment News

News Breaks
April 24, 2014
06:13 EDTWCCWESCO reports Q1 EPS 97c, consensus $1.07
Reports Q1 revenue $1.81B, consensus $1.83B. John J. Engel, WESCO's chairman and CEO, stated, "Our Q1 results reflect an improving U.S. economy largely offset by the impacts of severe winter weather conditions in both the U.S and Canada. Sales in the U.S. were up approximately 3% with mid-single digit organic sales growth in all of our end markets, except construction, where sales declined primarily due to weather related project delays. Sales in Canada declined approximately 4% organically versus last year. While we face near-term foreign exchange headwinds in Canada, we continue to view that market favorably. After a slow start in January, sales momentum improved through the quarter and has further accelerated in April."
News For WCC From The Last 14 Days
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March 23, 2015
10:00 EDTWCCOn The Fly: Analyst Downgrade Summary
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06:03 EDTWCCU.S. Multi-Industry sector downgraded to Neutral at Barclays
Barclays downgraded the U.S. Multi-Industry space to Neutral from Overweight saying rising headwinds could limit share upside to mid-single-digit levels in 2015, with only slight improvement in 2016. The firm believes the credit cycle is peaking and views the U.S. Dollar strength along with lower oil prices as headwinds. Concurrent with sector rating change, Barclays downgraded Dover (DOV), Grainger (GWW), Xylem (XYL) and WESCO (WCC) to Equal Weight from Overweight. It also upgraded Tyco (TYC) to Overweight from Equal Weight and Lennox (LII) to Equal Weight from Underweight, calling both defensive names in the space. The firm is also "comfortable" owning General Electric (GE), Honeywell (HON), Sensata (ST) and HD Supply (HDS) at current levels. It prefers waiting for pullbacks to buy shares of 3M (MMM).
05:46 EDTWCCWESCO downgraded to Equal Weight from Overweight at Barclays
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March 16, 2015
10:02 EDTWCCOn The Fly: Analyst Downgrade Summary
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08:12 EDTWCCWESCO downgraded to Neutral at Susquehanna
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07:42 EDTWCCWESCO downgraded to Neutral from Positive at Susquehanna
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