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News Breaks
July 23, 2014
09:55 EDTWHRWhirlpool sees FY14 free cash flow $600M-$650M
Sees strong, new innovative product launches in 2H14 in its North America operations. Says sees positive trends in industry growth in its North America operations. Says sees continued slow market recovery in its Europe, Middle East and Africa operations. Says sees improved product price and mix in that segment along with cost and capacity-reduction initiatives in that segment. In regards to the company's Latin America operations, it sees market share gains, ongoing cost productivity and new product launches. In the company's Asia operations, it sees ongoing cost productivity, new product launches and previously announced price increases to offset inflation and currency. Says investment and anticipated integration costs of the Hefei Sanyo acquisition will negatively impact 2014, but the company continues to believe this transaction will be "meaningful and accretive" in the first year post integration. Says "well positioned for improving global demand. Expects to grow beyond its core businesses. Says Indesit and Hefei Sanyo acquisitions are on track. Says confident in delivering FY14 performance. Sees previously announced price increases to offset inflation and currency. Comments taken from slides of the company's Q2 earnings conference call presentation.
News For WHR From The Last 14 Days
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October 31, 2014
11:21 EDTWHRWhirlpool management to meet with MKM Partners
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October 30, 2014
13:52 EDTWHRWhirlpool receives favorable verdict from jury in front-load washer trial
Jonathan D. Selbin, chair of the defective products practice group at the national plaintiffs' law firm Lieff Cabraser Heimann & Bernstein, and plaintiffs’ Lead Counsel, announced earlier that a jury in federal court in Ohio returned a verdict in favor of Whirlpool. The class action was brought on behalf of Ohio residents who purchased certain models of front-loading Whirlpool Duet washing machines manufactured between 2001 and 2008 that had a propensity to develop mold and odors. Selbin stated: “We think there are a number of good grounds for appeal based on pre-trial and in-trial rulings that prevented us from showing the jury very compelling evidence, including, in particular, evidence of the health risks Whirlpool itself recognized internally that mold in its Duet washers could cause. We intend to appeal.”
October 29, 2014
10:00 EDTWHROn The Fly: Analyst Downgrade Summary
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06:11 EDTWHRWhirlpool downgraded to Neutral from Buy at Sterne Agee
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October 28, 2014
17:01 EDTWHROn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory despite two disappointing economic data points and a mixed report from social media giant Twitter (TWTR). The market moved in a narrow range for the opening half hour of trading but gained upside momentum following a much better than expected consumer confidence reading. The market continued to tack on points throughout the afternoon and closed at its highs, led by the Nasdaq, which gained 1.75% for the session. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.3% in September, significantly undershooting expectations for them to have rise 0.7% in the month. The S&P Case-Shiller home price report showed prices were lower on a seasonally adjusted basis in the month of August compared to the prior month. A reading of consumer confidence surged to a seven-year high of 94.5 in October from a revised 89.0 final reading for September. The Richmond Fed's manufacturing index rose 6 points to 20 in October, beating expectations for it to have pulled back to 10. COMPANY NEWS: Twitter (TWTR) sunk $4.78, or 9.84%, to $43.78 after the social media company reported in-line profit and higher than expected Q3 revenue, but also reported a slowdown in user growth and provided weaker than expected Q4 guidance. Following last night's report, the stock was downgraded at RBC Capital, Nomura and Bank of America Merill Lynch to "Hold" or equivalent ratings, while Stifel lowered its rating on Twitter shares to Sell from Hold... Shares of Pfizer (PFE) edged up 6c, or 0.21%, to $29.09 after the pharmaceutical giant reported third quarter adjusted earnings per share and revenue that were a bit better than expected and narrowed its fiscal year profit outlook. Of note, Pfizer said during its earnings conference call that while proposed rule changes have made "inversions" more difficult, that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, gained 67c, or 0.95%, to $71.43 following Pfizer's comments. MAJOR MOVERS: Among the notable gainers following their earnings reports were Whirlpool (WHR), which advanced $10.66, or 6.77%, to $168.06, Cummins (CMI), which gained $9.22, or 6.81%, to $144.59, and Cliffs Natural (CLF), which jumped $2.05, or 22.19%, to $11.29. Among the noteworthy losers was Kohl’s (KSS), which dropped $3.89, or 6.64%, to $54.66 after the department store operator’s outlook for third quarter same store sales and fiscal 2014 profit missed expectations. Also lower were shares of Coach (COH), which fell $2.15, or 5.95%, to $34.00 after the luxury handbag and accessory maker reported sales declined 9% on a constant currency basis in its first quarter. INDEXES: The Dow rose 187.81, or 1.12%, to 17,005.75, the Nasdaq advanced 78.36, or 1.75%, to 4,564.29, and the S&P 500 gained 23.42, or 1.19%, to 1,985.05.
10:33 EDTWHRWhirlpool says FY14 restructuring cash outlays up to $150M
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10:29 EDTWHRWhirlpool sees Indesit to be 'moderately positive' for Q4 free cash flow
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10:01 EDTWHRWhirlpool says 'on track' to deliver 'strong' free cash flow this year
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06:08 EDTWHRWhirlpool backs FY14 ongoing business EPS view of $11.50-$12.00
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06:06 EDTWHRWhirlpool reports Q3 ongoing business EPS $3.04, consensus $3.13
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October 27, 2014
15:36 EDTWHRNotable companies reporting before tomorrow's open
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14:57 EDTWHRWhirlpool volatility increases into Q3 and outlook
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October 22, 2014
10:01 EDTWHRWhirlpool names Michael Todman, Marc Bitzer as vice chairmen
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