Apr. 22, 2013, 11:02 AMBarnes Group (B -2%) says it's completed the sale of its North American distribution business to MSC Industrial Direct (MSM +0.5%), for approximately $550M in cash. As a result of the sale, B has updated FY13 guidance, saying that it will report the sold unit as discontinued operations beginning with Q1. It now expects FY13 revenue from continuing operations to grow 17% to 20% Y/Y. GAAP EPS are now anticipated to be in the range of $1.71 to $1.86. | Comment!
Apr. 10, 2013, 11:09 AMMSC Industrial (MSM -3.7%) skips the market rally today after its FQ2 missed top line consensus estimates earlier. Net earnings fell 6.6% Y/Y as higher operating costs and weaker margins offset modest revenue growth. The company also forecast its FQ3 to come in below estimates due to soft demand and a lack of midyear price adjustments. It now expects to earn around $0.95 to $0.99 per share, on revenue of $597M to $609M The Street was looking for $1.10 on $633M, respectively. | Comment!
Jun. 28, 2012, 7:55 AM
Jun. 5, 2012, 12:04 PMFastenal (FAST) -7.6% after reporting that May net sales grew 13.1%, down from 22.6% last year. Dividend Channel calls the industrial and construction supplies retailer oversold, especially as it ranks the stock highly. Peers W.W. Grainger (GWW -6.5%) and MSC Industrial (MSM -5.%) are also taking a hit. | 2 Comments
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