Archive | Stock News

Tags: , , , , ,

Whirlpool cuts profit view for 2014


Whirlpool Corp. cut its financial forecast for the year and offered a weak forecast for 2015, citing integration costs related to recent acquisitions.

The world’s largest home-appliance manufacturer by sales said it now expects to close the year with a profit of $8 to $8.20 a share, down from $9.40 to $9.90 a share, largely due to the impact of new laundry products and costs associated to the integration of Italy’s Indesit Co. and Chinese home-appliances maker Hefei Rongshida Sanyo.

In 2015, Whirlpool said it expects to make $10.75 to $11.75 a share, including integration costs and a pension-settlement charge.

Analysts surveyed by Thomson Reuters projected a profit of $11.65 a share for 2014 and $14.50 for 2015.

The release comes ahead of Whirlpool’s Investor Day on Wednesday.

The Benton Harbor, Mich., company’s majority stakes in both companies mark its bold expansion in Europe and Asia. Whirlpool is expected to double sales in both markets.

On Monday, however, Whirlpool didn’t release a sales forecast.

Shares rose 1% to $185.88 in recent after-hours trading.

Through Monday’s closing, the company’s stock was up 17% for the year.

Write to Maria Armental at maria.armental@wsj.com

Access Investor Kit for Hefei Rongshida Sanyo Electric Co. Ltd.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CNE000001KJ4

Access Investor Kit for Whirlpool Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US9633201069

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/whirlpool-cuts-profit-view-for-2014-2014-12-15

Posted in Featured, Stock NewsComments Off

Tags: , , , , , , , ,

Callaway Golf ups 2014 view, warns of weak 2015


Callaway Golf Co. raised its 2014 outlook amid operating improvements, but warned of softness in 2015 tied to unfavorable currency effects.

The company now expects 2014 full-year earnings of 17 to 19 cents a share, up from 15 cents to 18 cents. Analysts polled by Thomson Reuters had called for 18 cents. It reaffirmed its 2014 sales guidance.

But as half of Callaway’s business takes place outside the U.S., “if the recent strengthening of the U.S. dollar persists or strengthens further, it will have a significant unfavorable impact on our reported results for 2015,” said Chief Executive Chip Brewer. Persistent unfavorable rates will mean a decline in reported sales and break-even profitability.

Because of timing, the foreign exchange rates have only had a limited effect on 2014 results.

For 2015, Callaway estimates sales growth of 2% to 3% on a constant currency basis. It had previously estimated sales growth, on a GAAP basis, of 1% to 2%, but is discontinuing this metric because of the volatility of the foreign currency market.

Analysts had called for 2% sales growth.

The Carlsbad, Calif.-based golf-equipment maker, like others in its area, has been struggling from inventory backlogs and increased promotions, and falling participation rates. Among those aged 18 to 34, participation fell roughly 13% in 2013 from 2009, as that demographic turns to active sports such as running.

Shares of Callaway are down about 14% this year.

Access Investor Kit for Callaway Golf Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1311932032

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/callaway-golf-ups-2014-view-warns-of-weak-2015-2014-12-15

Posted in Featured, Stock NewsComments Off

Tags: , , , , , , , ,

Norbord to buy Ainsworth Lumber in all-stock deal


Norbord Inc. said Monday it will acquire Ainsworth Lumber Co. in a friendly all-stock deal that will create a global wood-panel giant with annual sales exceeding $1.6 billion.

The two Canadian companies said the deal will bring together their geographically complementary, low-cost operations and provide them with more financial flexibility to capitalize on the U.S. housing recovery as well as growing demand for their products in Europe and Asia. The merged company will focus on the production of oriented strand board, an engineered wood panel commonly used in home building.

Norbord will offer 0.1321 of a share for each Ainsworth share in the transaction, which the companies said represents a premium of 15% to Ainsworth’s 20-day volume weighted average price. The transaction will create a company with a market capitalization of about 2 billion Canadian dollars ($1.75 billion). Norbord’s shares closed Friday at C$23.96 on the Toronto Stock Exchange, while Ainsworth’s shares closed at C$2.98.

Norbord operates seven mills in North America, mainly in the U.S. southeast, and four mills in Europe. Ainsworth operates four mills in Canada. The combined entity would have total oriented strand board capacity of about 7.7 billion square feet, making it the largest in the global oriented strand board industry, they said.

The companies said they expect to achieve operating synergies of about $45 million a year mainly through best practices and technology transfers in their mills, sales and logistics improvements and cost-cutting steps.

Norbord Chief Executive Peter Wijnbergen will lead the combined entity, which will continue under the Norbord name. Ainsworth CEO Jim Lake will stay on with the combined company in an advisory capacity for a period of six months.

Brookfield Asset Management Inc. and its affiliated entities, which control approximately 55% and 52% of the outstanding common shares of Ainsworth and Norbord respectively, have agreed to vote in favor of the transaction. Upon closing, the Brookfield entities will control about 53% of the outstanding common shares of the combined company.

Write to Carolyn King at carolyn.m.king@wsj.com

Access Investor Kit for Ainsworth Lumber Co. Ltd.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CA0089142024

Access Investor Kit for Norbord, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CA65548P4033

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/norbord-to-buy-ainsworth-lumber-in-all-stock-deal-2014-12-08-9485024

Posted in Featured, Stock NewsComments Off

Tags: , , , , ,

McDonald’s Nov. sales fall below estimates


McDonald’s Corp. posted sharper-than-expected sales declines across all of its divisions in November, as the fast-food giant continues to struggle with competition and a host of issues across its business.

Global sales fell 2.2% in November, excluding newly opened stores, while analysts had expected a 1.7% decline, according to Consensus Metrix. November’s dropoff followed a 0.5% sales slide in October that beat expectations.

In the U.S., sales fell 4.6% last month, far worse than the 1.9% drop in sales analysts had projected.

An increasingly complicated menu has slowed service in the U.S. as McDonald’s once-reliable base of younger customers have also defected to fast-casual chains boasting customized ordering and fresh ingredients, including Chipotle Mexican Grill Inc., and specialty-burger chains such as Five Guys.

McDonald’s has said it is planning “fundamental changes to its business” to combat its recent weak performance, seeking to eliminate layers of management and creating a new organizational structure in the U.S. as it works to better respond to consumer tastes.

In the company’s Asia/Pacific, Middle East and Africa region, sales at existing locations fell 4%, missing the 3.8% drop analysts were expecting. McDonald’s performance in the region appears to be improving somewhat after one of its meat suppliers was accused of intentionally selling expired meat to restaurants in July. The scandal shook consumer confidence and has driven down sales in recent months.

November’s decline was a slight improvement over October’s 4.2% sales decline in the region.

In Europe, broader economic softness has been compounded by political complications in Russia, where authorities have been inspecting and shutting McDonald’s restaurants–moves widely seen as retaliation for U.S. sanctions in response to Russia’s military incursion in Ukraine.

Sales edged fell 2% in the division in November as “very weak results” in Russia offset strength in the U.K.. Analysts had projected a 1.9% decline in the region.

Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com

Access Investor Kit for Chipotle Mexican Grill, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1696561059

Access Investor Kit for McDonald’s Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US5801351017

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/mcdonalds-nov-sales-fall-below-estimates-2014-12-08

Posted in Featured, Stock NewsComments Off

Tags: , , ,

MedCareers Group Inc – MCGI


The Company

MedCAREERS Group, Inc (“MCGI”) (OTCQB: MCGI) is dedicated to building its wholly-owned subsidiary, Nurses Lounge, Inc., into the premiere online professional network for the nursing community.

Nurses Lounge, A Professional Network for Nurses

Nurses Lounge (Nurseslounge.com), is a professional network for nurses (think “Linkedin” for Nurses) built from the ground up for the nursing profession and designed, as membership grows, to attract a sizable portion of the billions of dollars spent each year by companies looking to reach nursing professionals including employers, agencies, continuing education providers as well as medical and drug manufacturers to name a few.

Additionally, Nurses Lounge is configured to solve many of the communication challenges faced by the nursing professions three major stakeholder organization types; nursing schools, professional associations and employers. Nurses Lounge does
this through their ‘interactive lounge’ pages which provides.

  • Nursing schools the ability to manage and build alumni programs and distribute news and info to the broader nursing profession,
  • Nurse associations an alternative to outdated static websites or social pages including a safe professional online environment for members to network and interact in and,
  • Employers a cost saving platform for their employee referral program, timely distribution of news and below market recruiting costs.

Nursing Profession

Nursing is the largest profession in the healthcare industry with about 3 million nurses in the U.S. The demand for nurses is expected to grow to about 3.5 million by the end of the decade. Also, about one million nurses are expected to retire over this same period. This means more money will be spent chasing fewer nurses. As such, MCGI’s management believes that, whoever can aggregate the profession together on to one network, will likely be the go-to-site for any organization needing to reach nursing professionals. Also, management believes, that this is a winner-takes-all opportunity as the chance of having two professional networks for nurses is slim to none. Click here for additional info.


Early Growth through BSN Nursing Schools

Much like how Facebook reached out to schools in their early stage of growing membership, Nurses Lounge is directing their early efforts primarily to working with Nursing Schools and Student Nurse Associations (see recent press releases). As such you can find numerous examples of the Nurses Lounge “NL” icon on major schools and organizations websites placing Nurses Lounge shoulder-to-shoulder (for the nursing schools purpose) with social networks Facebook, Linkedin and Twitter.

Posted in Featured, Stock NewsComments Off

Tags: , , , , , ,

Walgreen Nov sales rise more than expected


Walgreen Co. reported its sales at existing locations rose a better-than-expected 4.5% in November, led by growth in its pharmacy business.

Analysts polled by Thomson Reuters expected an increase of 3.8%.

Walgreen said pharmacy sales improved 6.7%, exceeding analysts’ estimate for an increase of 5.3%. Prescriptions filled rose 2.6%. A calendar shift had a negative impact of two percentage points and generic drug introductions over the past year had a negative impact of 1.9 percentage points.

Pharmacy sales represented 65.2% of total sales during November.

In the front of the store, sales edged up 0.8%, below analysts’ projections of 1.2% during the month, as customer traffic declined 3.3%, mostly offsetting an increase in basket size of 4.1%.

Total drugstore sales rose 4.9% to $6.36 billion for the month.

For the three-month period ended Nov. 30, the drugstore chain operator reported total sales rose 6.8% to $19.59 billion, above analysts’ estimates for $19.34 billion. Sales, excluding newly opened or closed locations, improved 5.8%, including growth of 1.5% in the front of the store and 8.3% in the pharmacy section.

The company has been under pressure owing to a miscalculation in the pricing of generic prescription drugs. Walgreen also has been taking steps to achieve $1 billion in costs savings by the end of fiscal 2017 and to complete its deal to buy the rest of European drugstore company Alliance Boots GmbH.

Write to Tess Stynes at tess.stynes@wsj.com

Access Investor Kit for Walgreen Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US9314221097

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/walgreen-nov-sales-rise-more-than-expected-2014-12-03

Posted in Featured, Stock NewsComments Off

Tags: , , , , , ,

Brown-Forman cuts outlook on dollar concerns


Brown-Forman Corp. lowered its earnings outlook for the year, reflecting the impact of a stronger U.S. dollar on the Jack Daniel’s maker’s performance.

The company’s results for the October quarter–higher sales and a slight uptick in profit–fell below analysts’ expectations.

The Louisville, Ky., whiskey maker cut its profit guidance by 10 cents to a range of $3.15 to $3.35 a share. The company said it now expects foreign exchange to hurt earnings by 15 cents a share, opposed to its previous projection of six cents a share.

Chief Executive Paul Varga said in a news release that the company’s results for the first half of its fiscal year came in roughly in line with its expectations even as the spirits industry contended with a tough trading environment.

“As anticipated, underlying net sales growth accelerated in our second quarter, and we believe that underlying trends remain favorable as we head into the important holiday selling season,” he added.

The Jack Daniel’s trademark posted underlying sales growth of 5%, while the brand’s Tennessee Honey jumped 32% over the six months ended Oct. 31.

The company also said it would roll out its new Jack Daniel’s Tennessee Fire whiskey during its April quarter after a successful limited test.

For the three months ended Oct. 31, Brown-Forman posted earnings of $208 million, or 97 cents a share, up from $206 million, or 96 cents a share, in the prior-year quarter.

Sales rose 5.2% to $1.14 billion.

Analysts had projected earnings of $1.04 a share and revenue of $1.16 billion, according to Thomson Reuters.

Brown-Forman maintained its guidance for underlying sales growth for the year.

Write to Michael Calia at michael.calia@wsj.com

Access Investor Kit for Brown-Forman Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1156371007

Access Investor Kit for Brown-Forman Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1156372096

SOURCE: http://www.marketwatch.com/story/brown-forman-cuts-outlook-on-dollar-concerns-2014-12-03-84855433

Posted in Featured, Stock NewsComments Off

Tags: , , , , , ,

Sage net profit rises as subscriptions increase


LONDON–Business software group Sage Group PLC (SGE.LN) reported Wednesday a rise in full-year net profit as an increase in subscriptions to its products boosted margins.

Sage, which competes with New Zealand’s Xero Ltd. (XRO.NZ) and U.S. firm Intuit Inc. (INTU) in areas such as accountancy and bookkeeping software, said full-year net profit rose to 186.8 million pounds ($292.8 million) from GBP46.4 million, while revenue fell sightly to GBP1.31 billion from GBP1.38 billion.

“The group remains confident of achieving the targets of 6% organic revenue growth and organic operating profit margin of 28% in 2015,” said Sage.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/sage-net-profit-rises-as-subscriptions-increase-2014-12-03

Posted in Featured, Stock NewsComments Off

Tags: , , , ,

Abercrombie cuts full-year profit outlook


Abercrombie & Fitch Co. slashed its outlook for the year ending in January as weakness across several parts of its business and general retail-industry malaise continue to weigh on the teen retailer.

Abercrombie said it expects to post per-share earnings for the year of $1.50 to $1.65, well below its previous guidance of $2.15 to $2.35 a share. Analysts polled by Thomson Reuters had already lowered their target to $1.74 a share.

After reporting a preliminary 12% drop in third-quarter sales last month, Chief Executive Mike Jeffries expressed his disappointment with the company’s performance in the quarter ended Nov. 1, citing tepid store traffic, particularly in Europe, and continued underperformance in its Hollister Co. brand.

He said Wednesday that sales improved somewhat in November and that trend held through the Black Friday weekend. However, he warned conditions will remain difficult through the balance of the fourth quarter.

Abercrombie forecast a mid-to-high single-digit percentage drop in comparable sales for the period.

Pricing at once-hot teen stores has been hurt by the rise of fast-fashion chains such as Hennes & Mauritz’s H&M and Forever 21, which sells jeans for less than $8. Abercrombie has had to discount aggressively to keep up, dragging down its margins.

In the latest quarter, Abercrombie’s gross profit rate fell 0.8 points to 62.2%, offset in part by cost reductions.

Meanwhile, clothing with logos, which was once core to Abercrombie’s success has fallen out of style with teens who now seek cheaper, unmarked gear that they can use to put together their own individual styles. In August, Abercrombie said it would stop putting logos on its clothes in North America by spring.

Abercrombie has also launched efforts to reduce expenses and adjust its product assortment to regain relevance with its customer base. It expects to close 60 stores in the U.S. this year.

Overall, Abercrombie reported a profit of $18.2 million, or 25 cents a share, compared with a loss of $15.6 million, or 20 cents a share, a year earlier. The company’s marketing, general and administrative expenses fell 17%, while its stores and distribution expense fell 14%.

Excluding charges related to store closures and restructuring efforts, among other items, earnings fell to 42 cents a share from 52 cents a year earlier. Abercrombie had projected 40 cents to 42 cents in per-share earnings in November.

Sales at existing locations, including direct-to-consumer sales, fell 10%, led by a 15% decrease in international sales. By brand, sales ticked down 6% for Abercrombie & Fitch, 10% for Abercrombie Kids and 12% for Hollister.

Write to Chelsey Dulaney at chelsey.dulaney@wsj.com

Access Investor Kit for Abercrombie & Fitch Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0028962076

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/abercrombie-cuts-full-year-profit-outlook-2014-12-03

Posted in Featured, Stock NewsComments Off

Tags: , , , , , , , ,

Poundland profit up 12%; on track for store opens


LONDON–Poundland Group PLC (PLND.LN), a retail chain, on Thursday reported a 12% rise in half year pretax profit and said it remains confident of further progress throughout the year.

Pretax profit in the 26 weeks ended Sept 28 rose to 9.3 million pounds ($14.6 million) from GBP8.4 million in the same period last year. Underlying pretax profit was up 34.2% at GBP12.6 million, while total sales rose 15.0% to GBP528.2 million.

The company declared an interim dividend of 1.5 pence per share and said it is on track to open 60 net new stores in the U.K. and Ireland in fiscal 2015.

Shares closed Wednesday at 310.0 pence.

-Write to Jana Simmons at jana.simmons@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

SOURCE: http://www.marketwatch.com/story/poundland-profit-up-12-on-track-for-store-opens-2014-11-27

Posted in Featured, Stock NewsComments Off

Advertise Here