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14:08 EDTUPSEarnings Preview: UPS sentiment mixed ahead of Q3 report
United Parcel Service (UPS) is expected to report third quarter earnings on Friday, October 24, before the market open with a conference call scheduled for 8:30 am ET. UPS is a package delivery company and provider of global supply chain management solutions. EXPECTATIONS: Analysts are looking for earnings per share of $1.29 on revenue of $14.2B, according to First Call. The consensus range for EPS is $1.24-$1.35 on revenue of $14.01B-$14.41B. LAST QUARTER: UPS reported second quarter adjusted EPS of $1.21 against estimates for $1.25, on revenue of $14.27B against estimates for $14.1B. On its Q2 report, the company lowered its fiscal 2014 adjusted EPS view to $4.90-$5.00 from the "low end" of the $5.05-$5.30 range, compared to consensus of $5.09. The company announced plans to increase 2014 operating expense for capacity and peak related projects to a total of $175M. CFO Kurt Kuehn said, "These initiatives will increase operating expense this year, but will provide financial benefits for years to come." On its Q2 conference call, management said it would treat Black Friday as a full operating day this year. They expect a "very strong" peak season and said "all options are on the table" going forward after they evaluate their peak season performance, including consideration of a surcharge. STREET RESEARCH: Street research has been mixed in the weeks leading up to UPSís Q3 earnings report. On July 30 Bernstein said weakness in UPS shares was overdone following its Q2 report. Bernstein remained encouraged by the company's U.S. margins and volume growth. It viewed the stock as undervalued and kept an Outperform rating on the shares. On July 31, Atlantic Equities downgraded UPS to Neutral from Overweight. On September 26, Argus said UPS weakness created a buying opportunity. Argus noted that UPS had already begun hiring temporary workers and building remote villages ahead of the 2014 holiday shopping season. The firm thought the company will benefit from these extra workers into 2015, and it expects the company to benefit from a number of positive trends. It said the stock has a fair value of $115 and kept a Buy rating on the shares. PRICE ACTION: UPS shares have traded modestly higher since Q2 results were released. The stock has gained over 7% over the past twelve months. In afternoon trading ahead of Friday's Q3 report, UPS shares are up more than 1.8%.
14:07 EDTGBX, TRN, ARIIData shows railcar orders remain strong, says Wells Fargo
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14:03 EDTBDNBrandywine Realty upgraded to Buy from Neutral at Mizuho
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14:00 EDTRPRXRepros Therapeutics volatility elevated as shares trade near two-year low
Repros Therapeutics overall option implied volatility of 158 is above its 26-week average of 93 according to Track Data, suggesting large price movement.
13:59 EDTCABCabela's downgraded to Neutral from Buy at DA Davidson
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13:57 EDTJNPREarnings Preview: Juniper sees Q3 EPS 34c-36c on revenue of $1.11B-$1.12B
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13:56 EDTAALAmerican Airlines sees Q4 unchanged RASM across Atlantic, LATAM ex-Venezuela
Sees "small decline" in Q4 PRASM, YoY. Sees Q4 system PRASM ex-Venezuela up 2%-4%, including Venezuela flat to up 3%.
13:56 EDTGELGenesis Energy acquires M/T American Phoenix for $157M
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13:51 EDTAALAmerican Airlines sees 2014 system capacity up 2.2%
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13:46 EDTABGSAB Captial reports 5.7% passive stake in Asbury Automotive
13:45 EDTWLKWestlake Chemical to invest $330M to expand ethylene capacity in Lake Charles
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13:45 EDTThe dollar index continues to motor
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13:44 EDTJNSFollow-up: Janus Capital downgraded to Sell at Citigroup
Citigroup downgraded Janus Capital to Sell from Neutral citing margin pressure and its belief the market is too optimistic on Bill Gross-related inflows. Citi lowered its price target for shares to $12.50 from $14.50 following the company's Q3 results.
13:40 EDTWMT, AETWal-Mart's Sam's Club offering services to small businesses
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13:36 EDTAMZNEarnings Preview: Amazon sees Q3 revenue $19.7B-$21.5B
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13:29 EDTPNWPinnacle West increases quarterly dividend by 4.85% to 59.5c
Pinnacle West's board voted today to raise the companyís dividend by 4.85%, or 11c per common share annually. This action will result in an indicated annual dividend of $2.38 per share or 59.5c per share quarterly. The declared dividend is payable December 1 to shareholders of record on November 3.
13:29 EDTJNSJanus Capital downgraded to Sell from Neutral at Citigroup
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13:28 EDTCFFIC&F Financial reports Q3 EPS 96c vs. 97c a year ago
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13:27 EDTFBFacebook launches Rooms app
Facebook earlier today announced that it would launch an app that will enable users to create chat rooms based on different topics. Reference Link
13:26 EDTFEarnings Preview: Ford sees Q3 total production approximately 1.5M units
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