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Stock Market & Financial Investment News

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July 15, 2014
04:55 EDTWWD, WWD, TGI, TGI, BAESY, BAESY, COL, COL, ATI, ATI, RTI, RTI, ERJ, ERJ, ESL, ESL, PCP, PCP, WAIR, WAIR, BDRBF, BDRBFCredit Suisse events at Farnborough Air Show
Credit Suisse to hold meetings at the Farnborough Air Show in Farnborough, England on July 13-16.
News For WWD;WAIR;PCP;ESL;ERJ;RTI;ATI;COL;BAESY;TGI;BDRBF From The Last 14 Days
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July 28, 2015
05:44 EDTPCPPrecision Castparts sees FY16 EPS $12.25-$13.15, consensus $12.77
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05:43 EDTPCPPrecision Castparts reports Q1 EPS $2.87, consensus $3.00
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July 27, 2015
17:06 EDTPCPMidOcean Partners to sell Noranco to Precision Castparts
MidOcean Partners announced that it has reached a definitive agreement to sell Noranco Inc. to Precision Castparts. Noranco is a leading supplier of complex machined components and assemblies for mission-critical landing gear, aerostructures, and aero engine applications to the aerospace industry. MidOcean acquired the company in April 2013 jointly with PSP Investments, and paired its operating resources in the aerospace sector with the Company's management team to drive revenue growth and complete two accretive acquisitions.
10:19 EDTBDRBFBombardier wins 30 year vehicle maintenance contract for Toronto rail line
Bombardier has won a contract to provide 30 years of maintenance on BOMBARDIER FLEXITY Freedom light rail vehicles it will build for service on the new Toronto Eglinton Crosstown line. The contract, which was awarded by the Crosslinx Transit Solutions Maintenance General Partnership, is valued at approximately $308M. For this agreement, Bombardier has been subcontracted by the Crosslinx Transit Solutions Maintenance General Partnership, which is acting as the maintainer of the entire system on behalf of the winning consortium responsible for designing, financing, building and maintaining the 19-kilometre transit line. The project is under the authority of Metrolinx, the Government of Ontario agency responsible for the coordination and integration of all modes of transportation in the Greater Toronto and Hamilton Area.
07:08 EDTPCPPrecision Castparts acquires Noranco for $560M
Precision Castparts has agreed to acquire Noranco from MidOcean Partners and PSP Investments for $560M. Noranco is a premier supplier of complex machined and fabricated components for aero-engine, landing gear and airframe applications. Noranco provides significant value to aerospace customers through a wide range of sophisticated capabilities including high precision machining and sheet metal fabrication, processing, assembly and testing. As a key supplier to the leading aerospace OEM and Tier 1 manufactures, Noranco has established a balanced customer base – its largest customers are Honeywell, UTAS, Safran, Bombardier, and Spirit. The company has strong content positions on the next generation commercial platforms including 737, 787, 777, A350, and A320. Noranco employs 1,100 employees across 8 manufacturing sites in North America. The cash acquisition will be immediately accretive to earnings. Subject to regulatory approvals, the transaction is expected to be mpleted during Q3 of FY16, after which its results will be reported as part of the Airframe Products segment.
July 24, 2015
07:33 EDTCOLRockwell Collins narrows FY15 EPS view to $5.15-$5.25 from $5.10-$5.30
Consensus $5.24. Narrows FY15 revenue view to $5.25B-$5.3B from $5.2B-$5.3B, consensus $5.31B. Narrows FY cash flow from ops view to $725M-$775M from $700M-$800M. Sees FY15 CapEx about $200M, income tax rate about 28%.
07:31 EDTCOLRockwell Collins reports Q3 continuing ops EPS $1.33, consensus $1.30
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July 23, 2015
15:05 EDTCOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include AbbVie (ABBV), consensus $1.06... Biogen (BIIB), consensus $4.10... Simon Property Group (SPG), consensus $2.36... State Street (STT), consensus $1.37... V.F. Corp. (VFC), consensus 36c... Johnson Controls (JCI), consensus 91c... American Airlines (AAL), consensus $2.60... Rockwell Collins (COL), consensus $1.30... Cabot Oil & Gas (COG), consensus 4c... Lear (LEA), consensus $2.48... Encana (ECA), consensus (15c).
09:06 EDTRTIAlcoa announces realignment of downstream portfolio
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09:02 EDTRTIAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.
July 22, 2015
07:24 EDTCOLRockwell Collins weakness a buying opportunity, says Canaccord
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06:56 EDTBAESYContractor mergers, sales fueled by government spending cuts, Reuters says
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July 21, 2015
14:10 EDTATIAllegheny Technologies downgraded to Neutral from Buy at BofA/Merrill
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13:32 EDTATIAllegheny Technologies weakness a buying opportunity, says Stifel
07:19 EDTATIAllegheny Technologies sees FY15 capex roughly $250M
“Our balance sheet remains solid, with cash on hand of $251M at the end of the second quarter 2015 and no borrowings outstanding under our $400M domestic borrowing facility. Total debt to total capitalization of 37.0% at the end of the second quarter 2015 was unchanged from year-end 2014. Including expected payments associated with the HRPF project, we now expect 2015 capital expenditures to be approximately $250M, of which $63M has been spent in the first six months of 2015.”
07:16 EDTATIAllegheny Technologies reports Q2 EPS (15c), consensus 4c
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July 20, 2015
16:13 EDTWWDWoodward sees FY15 EPS at mid to lower end of $2.70-$2.90, consensus $2.82
"Considering weaker sales in Asia and the impacts of foreign currency exchange rates, we anticipate full year sales to be approximately flat with last year at $2.0B and earnings to be at the mid to lower end of our previously stated range of between $2.70 to $2.90 per share," said CEO Thomas Gendron. Revenue consensus $2.1B.
16:12 EDTWWDWoodward reports Q3 EPS 66c, consensus 71c
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15:11 EDTATIAllegheny Technologies technical notes before earnings
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06:14 EDTBAESYBAE Systems cuts Typhoon jet fighter costs, slows production, Telegraph says
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