Oct. 16, 2014, 3:17 PM
- Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
- P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
Sep. 22, 2014, 11:04 AM
- Emerson Process Management, a global business of Emerson (EMR -1.2%), has been selected by Canada’s North West Redwater Partnership to provide automation services and technology for its Sturgeon refinery in Edmonton, Alberta.
- The facility will capture CO2 emissions and sell them to traditional oil extraction operations. The method is expected to reduce emissions by 1.2M tons per year from the first phase of the refinery.
- Expected value of the contract to Emerson is approximately $86M.
Sep. 2, 2014, 3:31 PM
- General Electric (GE -0.4%) reportedly is among those preparing binding offers for Italian valve maker Petrolvalves, with Emerson Electric (EMR +0.4%) also considered a "motivated" bidder which could also participate in the final round of the company's auction.
- The offers could value the Italian company at more than €1B ($1.31B), according to Reuters.
- Petrolvalves is said to have set a deadline for binding offers towards the end of September in an attempt to sign a deal later this year.
Aug. 6, 2014, 12:19 PM
- General Electric (GE +1.8%) is upgraded to Outperform from Market Perform with a $33 price target, up from $29, at Bernstein,which offers five reasons for favoring the stock.
- The firm sees growing evidence of portfolio and cultural transformation at GE resulting in accelerating cost reduction and the most Industrial focused mix in almost 25 years, as well as coming catalysts in the GE calendar through 2015 as backlog converts into the back half.
- Trading at 15.1x the next 12 months of earnings for its industrial business, GE is cheaper than most other industrials, including Danaher (NYSE:DHR) at 21.7x, 3M (NYSE:MMM) at 17.8x, and Emerson Electric (NYSE:EMR) at 16x, the firm says.
Aug. 5, 2014, 8:36 AM
- Net earnings attributable to common shareholders of $728M ($1.03 per share) vs. $194M ($0.27 per share) in the second quarter of 2013.
- Net sales declined 1% to $6.3B.
- Due to the slower economic environment this year, the company expects to report on the lower end of its 2014 guidance of 3-5% percent underlying sales growth, +/-1% net sales change, and earnings per share of $3.68 to $3.80.
- Q2 results
- EMR -2% premarket
Aug. 5, 2014, 7:23 AM
Aug. 4, 2014, 5:30 PM
- ACM, ACT, ADM, AEE, AKRX, ALLT, AME, AMSC, ANSS, ARCC, ARCO, ARQL, BCRX, BLMN, CIE, CLDT, CNK, COH, CRZO, CVC, CVS, DWRE, EMR, END, ENZY, EXH, EXLP, EXPD, FE, FUN, GLDD, GTIV, GTXI, HCLP, HCP, HEP, IART, IFF, IIVI, INFI, IT, KWK, LIN, LPX, MDU, MGM, MMP, MSI, MWW, MZOR, NILE, NNN, [[NTi]], NVDQ, NWN, ODP, OXF, OZM, PMC, RBA, REGN, RHP, RIGL, RTI, SCMP, SCOR, SMG, SNSS, SPAR, STE, TDG, VMC, VSI, VTG, WLK, WNR, ZBRA, ZTS
Jul. 11, 2014, 9:09 AM
Jun. 27, 2014, 7:26 AM
- Emerson Electric (EMR) says it is evaluating strategic alternatives for its Power Transmission Solutions business unit, including adding or selling operations.
- EMR expects to announce its plans for the business by year's end.
- The unit is part of EMR's Industrial Automation business, with 2013 revenue of more than $600M.
May 19, 2014, 8:57 AM| May 19, 2014, 8:57 AM | Comment!
May 6, 2014, 8:39 AM
- Emerson Electric (EMR) +2.7% premarket even as Q1 earnings and revenues each fell 2.5% Y/Y to finish below expectations.
- Q1 network power sales fell 21% Y/Y, due to a recent divestiture, process management sales rose 4.4%, industrial automation revenue increased 1.6%, and climate technologies sales grew 5.4%.
- Reaffirms guidance for FY 2014, seeing EPS of $3.68-$3.80 vs. $3.77 analyst consensus estimate, with underlying sales growth of 3%-5% and net sales of -1%-1%.
- Says robust orders growth in Q1 reflects continued improvement in the global macroeconomic environment, although uncertainty persists in some markets, especially the U.S. after anemic Q1 GDP growth.
May 6, 2014, 7:09 AM
May 5, 2014, 5:30 PM
- ACM, ACOR, AER, AKRX, AME, ARCC, ARCO, ARW, BCE, BCS, CBOE, CNK, COCO, CRTO, CRZO, CYNO, DISCA, DNR, DTV, DWRE, EMR, EXH, EXLP, FE, GDP, GLDD, HCP, HFC, HPT, HSH, HSIC, HTH, IFF, ISIS, KWK, MMP, MNTA, MONT, MOS, MPW, MSO, MVIS, MWIV, NRG, [[NTi]], NUS, ODP, OXF, PDCE, PQ, PRIM, RDC, RHP, RTI, RTRX, STWD, TDG, TGH, TPH, TW, UBS, VMC, VSH, VTG, WCG, WNR, XRAY, ZBRA, ZTS.
Feb. 4, 2014, 9:49 AM
- Emerson Electric (EMR -1.5%) net profit edged up to $462M from $454M a year earlier,
- Underlying sales +3%; underlying orders growth has been 3-4% for a number of months.
- Sales breakdown: Process-management +7.6%, Industrial Automation +1.1%, Network Power -11%, Climate Technologies +4.5%.
- Geographic breakdown: U.S. +3%, Asia +10%, Europe flat; growth was strong in emerging markets, led by China with an increase of 14%.
- "Although uneven across markets, overall global demand reflects slowly improving business confidence and macroeconomic momentum, particularly in Europe," says Chairman and CEO David Farr.
- Emerson reiterates its 2014 guidance for EPS of $3.68-3.80 vs consensus of $3.81, underlying sales growth of 3-5%, and net sales of between -1% and +1% (PR)
Feb. 4, 2014, 7:16 AM
Feb. 4, 2014, 12:05 AM
Other News & PR