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Stock Market & Financial Investment News

News Breaks
September 14, 2012
10:07 EDTXPO, HTLD, KNX, CHRW, JBHT, WERNWerner leads trucking stocks lower after guidance miss
Trucking company Werner Enterprises (WERN) and other trucking companies are retreating after Werner provided significantly lower than expected third quarter earnings per share guidance. The company expects its earnings per share to be 33c-36c, compared with analysts' consensus estimate of 44c. The company cited several factors that are negatively affecting its profits, including cost increases for truck depreciation and higher driver pay. Also weighing on the company's bottom line are higher fuel costs, rising health care costs, and increased maintenance equipment costs, the company said. Meanwhile, in a note to investors earlier today Jefferies research analyst Peter Nesvold reduced his 2012 earnings estimates for six trucking companies, including Werner. The latter company's guidance confirms that the trucking industry is weak, Nesvold wrote. However, many other data points indicate that the trucking industry is struggling, the analyst believes. For example, Nesvold noted that a week ago Jefferies found that diesel consumption data had reached its lowest point since December 2009, while the firm noted last Monday that truckload utilization levels continue to drop. In addition to Werner, Nesvold reduced his estimates on the following companies: C.H. Robinson (CHRW), Heartland Express (HTLD), J.B. Hunt (JBHT), Knight Transportation (KNX), and XPO Logistics (XPO). The analyst maintained a Buy rating on XPO and Hold ratings on the rest of the stocks. In mid-morning trading, Werner slumped 8.03% to $21.77, CH Robinson declined 0.81% to $56.78, Heartland dropped 3.33% to $13.36, J.B. Hunt lost 1.08% to $51.95, Knight tumbled 5.08% to $14.56, and XPO inched down 0.19% to $15.55.
News For WERN;CHRW;HTLD;JBHT;KNX;XPO From The Last 14 Days
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February 10, 2016
10:01 EDTKNXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antero Resources (AR) downgraded to Neutral from Buy at Goldman... Apollo Investment (AINV) downgraded to Sell from Neutral at Citi... BBA Aviation (BBAVY) downgraded to Neutral from Buy at Goldman... CM Finance (CMFN) downgraded to Outperform from Strong Buy at Raymond James... CTI BioPharma (CTIC) downgraded to Sell from Hold at WallachBeth... Calix (CALX) downgraded to Market Perform from Outperform at Cowen... ConocoPhillips (COP) downgraded to Peer Perform from Outperform at Wolfe Research... Fifth Street Finance (FSC) downgraded to Neutral from Overweight at JPMorgan... Fortis (FRTSF) downgraded to Neutral from Outperform at Credit Suisse... ITC Holdings (ITC) downgraded to Market Perform from Outperform at Wells Fargo... KapStone (KS) downgraded to Hold from Buy at Deutsche Bank... Knight Transportation (KNX) downgraded to Hold from Buy at Evercore ISI... Lake Shore Gold (LSG) downgraded to Sector Performer from Outperformer at CIBC... Medley Capital (MCC) downgraded to Hold from Buy at Jefferies... Pandora (P) downgraded to Market Perform from Outperform at Cowen... Parker-Hannifin (PH) downgraded to Hold from Buy at Evercore ISI... Parkway Properties (PKY) downgraded on real estate headwinds, valuation at Stifel... Plains GP Holdings (PAGP) downgraded to Neutral from Outperform at Credit Suisse... Ruckus Wireless (RKUS) downgraded to Neutral from Buy at SunTrust... SolarCity (SCTY) downgraded to Neutral from Buy at Roth Capital... Tahoe Resources (TAHO) downgraded to Sector Perform from Outperform at RBC Capital... USANA (USNA) downgraded to Neutral from Buy at DA Davidson... Valero (VLO) downgraded to Buy from Conviction Buy at Goldman... Western Union (WU) downgraded to Neutral from Outperform at Macquarie... XL Group (XL) downgraded to Sell from Hold at Deutsche Bank.
07:11 EDTJBHT, HTLD, CHRWBB&T to hold a conference
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05:41 EDTKNXKnight Transportation downgraded to Hold from Buy at Evercore ISI
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February 9, 2016
07:25 EDTXPOXPO Logistics to retain truckload business aquired in Con-way deal
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07:16 EDTXPO, WERNStifel to hold a conference
Transportation and Logistics Conference is being held in Key Biscayne, Florida on February 9-10.
February 4, 2016
13:55 EDTXPOXPO Logistics trims truck terminals in cost reduction plan, WSJ says
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10:00 EDTCHRWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
09:22 EDTCHRWC.H. Robinson upgraded to Outperform at Raymond James
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06:58 EDTCHRWC.H. Robinson upgraded to Outperform from Market Perform at Raymond James
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February 2, 2016
16:18 EDTCHRWC.H. Robinson reports Q4 EPS 88c, consensus 87c
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14:32 EDTCHRWNotable companies reporting after market close
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February 1, 2016
10:00 EDTWERNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
07:43 EDTWERNWerner upgraded to Strong Buy from Outperform at Raymond James
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January 29, 2016
16:14 EDTXPOXPO Logistics reduces workforce by 190 positions in less-than-truckload business
XPO Logistics continued with its plan for synergies in its less-than-truckload business acquired from Con-way. Approximately 160 non-sales positions have been eliminated with most of the reductions being in administrative, management and back office functions, and impacted less than 1% percent of the LTL workforce in North America. Another 30 positions were eliminated in other parts of the company, primarily to address redundancies created by the acquisition. Collectively, the actions are expected to reduce annual costs by more than $20M against a targeted operating profit improvement of $170M-$210M over two years. To date, approximately $50M of expected annualized savings have been achieved in the three months since the company acquired Con-way on October 30, 2015.
January 28, 2016
16:12 EDTWERNWerner reports Q4 EPS 51c, consensus 46c
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11:58 EDTJBHTJ.B. Hunt raises quarterly dividend 5% to 22c per share
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January 27, 2016
17:54 EDTKNXKnight Transportation sees Q1 EPS 28c-31c, consensus 32c
Sees Q2 EPS 32c-35c. Guidance taken from slides presentation.
16:03 EDTKNXKnight Transportation reports Q4 EPS 36c, consensus 32c
Reports Q4 revenue $290.7M, consensus $306.88M.

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