EmailThe industrials sector is trading +0.5% versus the S&P 500 +0.5%.
In broker news: TWI +4.2% (Titan Intl initiated with a Buy at Jefferies;
tgt $30), INSU -7.4% (Insituform Tech downgraded to Underperform at
Oppenheimer), JASO -8.2% (JA Solar downgraded to Underperform from Hold at
Jefferies; tgt cut to $2 from $4), DE -0.1% (Deere downgraded to Neutral at
boutique firm), BAESY -0.2% (BAE Systems downgraded to Underperform from Neutral
at Exane BNP Paribas).
In Sector News: OSK +7.2% (Oshkosh Truck lifting in recent trade; Hearing
attributed to M&A rumor), TXT +5.0% (Textron lowers FY11 EPS guidance following
Sr notes buyback), WCC +2.4% (WESCO International announces the acquisition of
Brews Supply; expected to be immediately accretive to WCC'S earnings by approx.
$0.04 per diluted share in the first year of operation).
PNR +0.9% (Pentair reaffirms FY11 guidance ahead of Analyst Day; sees EPS of
$2.42-2.50, ex-items, versus $2.46 Capital IQ Consensus Estimate; revs approx.
$3.5 billion versus the $3.50 billion Capital IQ Consensus Estimate), LMT +0.7%
(Lockheed Martin awarded $791 mln contract - Dept. of Defense), GE +0.7%
(General Electric wins $1 billion in North American gas turbine orders), RLOG
-11.3% (Rand Logistics announces common stock offering of 2.975 mln shares to
fund anticipated acquisition of two vessels).
than one year.
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