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Nov. 24, 2014, 3:43 PM
- Twenty-two spinoffs have been completed in 2014, the most in a decade, and another 28 have been announced. Among the catalysts are activist investors, so Credit Suisse screened for companies with multiple business segments, slow growth, and stocks trading for lower multiples than peers, in other words, "good, quality companies that are struggling to grow."
- The list is heavy on big media names like Time Warner (NYSE:TWX) and Twenty-First Century Fox (NASDAQ:FOXA), big tech like Oracle (NYSE:ORCL), Symantec (NASDAQ:SYMC), and IBM, and big industry like Lockheed Martin (NYSE:LMT), Ingersoll-Rand (NYSE:IR), and Raytheon (NYSE:RTN), but just two financial names - Travelers (NYSE:TRV) and Torchmark (NYSE:TMK).
- The rest: MO, CA, WU, DPS, PBI, SJM, HRS, SWK, EMR, WLP, MAT, GE, SNA, LLL, ITW, STJ, PDCO, HPQ, DLPH, HAS, NAVI, GME, CBS, JNJ, SLB.
Nov. 4, 2014, 2:40 PM
- Higher for most of the session following an earnings beat, Emerson Electric (EMR -0.3%) slides into the red as management - speaking on the earnings call (live right now on Seeking Alpha) says if oil stays at these levels (below $80 per barrel) for another 30-60 days, it will negatively impact results in a material way.
- Previously: Emerson Electric beats by $0.07, revenue in-line
- Previously: Energy sector slammed alongside crude oil
Nov. 4, 2014, 8:05 AM
- Net earnings attributable to common shareholders of 410M vs. $795M in the comparable quarter a year ago. Excluding charges, earnings rose to $1.30 per share from $1.18 per share last year.
- Revenue by segment: Process Management +8%; Industrial Automation +5%; Network Power -20%; Climate Technologies +7%; Commercial & Residential Solutions +5%.
- Cash returned to shareholders through dividends and share repurchase exceeded 60% for the fourth consecutive year.
- Year-end backlog of $6.7B.
- The company expects underlying sales to grow between 4-5% next year, better than in 2014. Due to unfavorable currency translation and the potential power transmission divestiture deducting 2% each, reported sales are expected to change 0-1%. Profitability is expected to continue to improve modestly.
- FQ4 results
Nov. 4, 2014, 7:11 AM
- Emerson Electric (NYSE:EMR): FQ4 EPS of $1.30 beats by $0.07.
- Revenue of $6.81B in-line (flat Y/Y).
Nov. 3, 2014, 5:30 PM
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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
- Emerson Electric (NYSE:EMR): FQ3 EPS of $1.03 misses by $0.03.
- Revenue of $6.3B (-0.6% Y/Y) misses by $150M.
Aug. 4, 2014, 5:30 PM
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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
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.
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