Mon, Oct. 24, 6:58 PM
- 3M (NYSE:MMM) is upgraded to Overweight from Equal Weight and a $194 price target at Barclays, part of the firm's more optimistic outlook in the U.S. multi-industry sector that prompts several stock upgrades.
- Now is an attractive entry point for the overall group, Barclays believes, based on a view that the negative earnings revision cycle is nearing an end, greater visibility on key end-markets - particularly non-residential construction and general capital spending - and a recovery in emerging markets; $50-plus oil and potential M&A activity helps too, the firm says.
- Barclays says 3M is the largest emerging market exposed name it covers (at 35% of sales), and it believes an emerging market recovery is taking place, particularly in places where 3M has been hit hard, notably Brazil; also, the recent rally in emerging market currencies will help 3M in an outsized manner.
- In addition to 3M, Barclays upgrades WABCO Holdings (NYSE:WBC), ITT Industries (NYSE:ITT), Rexnord (NYSE:RXN) and Rockwell Automation (NYSE:ROK) to Overweight from Equal Weight; however, the firm downgrades Actuant (NYSE:ATU) and Terex (NYSE:TEX) to Underweight from Equal Weight.
Tue, Oct. 18, 4:47 PM
Wed, Aug. 10, 4:14 PM
Thu, Aug. 4, 7:41 AM
- Adjusted income from continuing operations of $60.2M, or $0.67 per share vs. $62.2M, or $0.69 per share in the same quarter a year ago.
- Total revenue by segment: Industrial Process -25%; Motion Technologies +41%; Interconnect Solutions -5%; Control Technologies flat.
- As a result of revised volume expectations at its Industrial Process division, the company now expects an adjusted EPS guidance range of $2.34-$2.46.
- Q2 results
Thu, Aug. 4, 6:46 AM
Wed, Aug. 3, 5:30 PM
- AAC, AAON, ACRE, ACTA, AGCO, AGIO, AKRX, ALSK, AMCX, AME, AMRN, ANIP, ANSS, APA, APLP, ARRY, AYR, BBW, BCE, BCRX, BDX, BLL, CBB, CCOI, CHD, CHK, CNNX, CNSL, COT, CPK, CRIS, CRZO, CTB, DNR, DUK, DW, ELOS, EPAM, ESNT, EVA, FMSA, GLDD, GLOG, GOGO, GTN, HAR, HGG, HII, HL, HMHC, HRC, HSC, HSIC, HSNI, ICPT, IMGN, IOC, IPCC, IRM, IT, ITCI, ITT, K, KOP, LBY, LFUS, LGND, LIOX, LPX, LQDT, LXRX, MFC, MGM, MGP, MITL, MMS, MNTA, MPEL, MPG, MPW, NAO, NERV, NGS, NOK, NSAM, NXTM, OGE, OMAM, OMF, ORBC, PBH, PCRX, PGNX, PGTI, PH, PLUG, PPP, PRFT, PRIM, PRTY, PWR, QSR, RDUS, REGN, RFP, RGEN, RLGY, ROLL, RVLT, RWLK, SBH, SEAS, SFM, SGM, SHLX, SNR, SPAR, SPH, SRE, SSTK, SSYS, STFC, STOR, STWD, TDY, TEVA, THS, TICC, TIME, TK, TNK, TOO, TSEM, TVPT, TWI, UAM, UNT, USAC, USCR, VIAB, VLP, VWR, WIN, WPC, WRK, XLRN
Fri, Jun. 24, 6:18 PM
- In an SEC filing, engineering firm ITT (ITT -9.7%) says it will lay off about 270 workers as part of restructuring actions it's taking due to "persistently weak oil and gas prices" and how they affect customer spending.
- It expects pretax costs of about $12M-$13M, mainly in severance payments, and to substantially complete the actions over six months.
- With full implementation, it sees pretax cash savings annually of about $19M.
Mon, May 23, 3:21 AM
- President Obama kicked off his three-day visit to Vietnam with an announcement declaring the end of a U.S. arms embargo on the country, a ban that had been in place for decades.
- "We've come here as a symbol of the renewed ties....and the comprehensive partnership we have created over the course of my presidency," Obama said at a press conference.
- The trip will also see the nations discuss the Trans-Pacific Partnership, which is expected to usher in a new period of growth for export-oriented Vietnam.
- Related tickers: GD BA, NOC, LMT, RTN, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
- ETFs: VNM
Wed, May 11, 4:49 PM
Thu, May 5, 8:57 AM
- Adjusted income from continuing operations of $53.3M, or $0.59 per share vs. $59.9M, or $0.65 per share in the same quarter a year ago.
- Total revenue by segment: Industrial Process -18%; Motion Technologies +34%; Interconnect Solutions -7%; Control Technologies -9%.
- Reaffirms outlook for 2016: Adjusted EPS of $2.42-$2.68 per share, with total revenues flat to down 4% compared to 2015.
- Q1 results
Thu, May 5, 6:59 AM
- ITT (NYSE:ITT): Q1 EPS of $0.59 in-line.
- Revenue of $609M (+3.4% Y/Y) beats by $16.33M.
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Thu, Apr. 7, 3:01 AM
- More than 40% of the roughly 22M Americans who borrowed from the government's main student-loan program aren't making payments or are behind on more than $200B owed, according to a quarterly snapshot of the Education Department's $1.2T student-loan portfolio.
- The Obama administration maintains that the loan program, as a whole, will generate a profit over the long term, but the risk is rising that millions of students may never repay and revenue won't meet projections.
- Related stocks: CECO, STRA, COCO, ESI, ITT, BPI, LINC, DV, LOPE, APEI, APOL
Tue, Mar. 15, 8:40 AM
- ITT Corp. (NYSE:ITT) will open a new North American friction manufacturing facility in Mexico’s Guanajuato state in 2017.
- The factory will expand ITT’s global production capability for highly engineered brake pads for the automotive industry.
- Preliminary brake pad production is expected to begin in late 2017, with full rate series production planned for the first quarter of 2018.
Fri, Feb. 12, 8:07 AM
- Adjusted income from continuing operations of $52.7M, or $0.58 per share vs. $54.3M, or $0.59 per share in the same quarter a year ago.
- Organic revenue by segment: Industrial Process -6%; Motion Technologies +24%; Interconnect Solutions -3%; Control Technologies -12%.
- Outlook for 2016: Adjusted EPS of $2.42-$2.68 per share, with total revenues flat to down 4% compared to 2015.
- ITT +1.9% premarket
- Q4 results
Fri, Feb. 12, 6:55 AM
- ITT (NYSE:ITT) declares $0.124/share quarterly dividend, 4.8% increase from prior dividend of $0.1183.
- Forward yield 1.65%
- Payable April 1; for shareholders of record March 11; ex-div March 9.