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EnPro Industries Announces Acquisition of PI Bearing Technologies; Terms not Disclosed
Wednesday, August 3, 2011 - 4:57pm | 47EnPro Industries, Inc. (NYSE: NPO) today announced the acquisition of PI Bearing Technologies, a privately held manufacturer of bearing blocks and other bearing products used in fluid power applications. The acquisition was completed for cash. Terms were not disclosed.
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Intraday Losers
Wednesday, August 3, 2011 - 3:53pm | 170Kraton Performance Polymers (NYSE: KRA) is trading down over 30% after reporting Q2 earnings. ExamWorks (NYSE: EXAM) is trading down over 30% after reporting Q2 earnings. Kforce (NASDAQ: KFRC) is trading down over 30% after being cut to Neutral at SunTrust Robinson. ION Geophysical (NYSE: IO) is...
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UPDATE: Brean Murray Carret Upgrades Met-Pro Corp from Hold to Buy
Wednesday, August 3, 2011 - 9:48am | 102Brean Murray Carret has published a research report on Met-Pro Corp (NYSE: MPR) raising estimates and upgrading the rating on the producer. In the report, Brean Murray Carret & Co wrote, "Over the past 3 to 4 months, MPR has landed significant contract wins. We had been expecting them to lock...
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Earnings Roundup
Wednesday, August 3, 2011 - 9:05am | 1603MasterCard Inc (NYSE: MA) reported a 33% rise in its second-quarter profit. MasterCard reported its quarterly profit at $608 million, or $4.76 per share, up from $458 million, or $3.49 per share, in the year-earlier period. However, analysts were expecting earnings of $4.22 per share. Its net...
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Brean Murray Upgrades Met-Pro To Buy, $15 PT
Wednesday, August 3, 2011 - 9:02am | 25Brean Murray Carret & Company has upgraded Met-Pro (NYSE: MPR) from Hold to Buy with a $15 price target.
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UPDATE: J.P. Morgan Downgrades Parker Hannifin to Neutral
Wednesday, August 3, 2011 - 8:45am | 91J.P. Morgan is out with its report today on Parker Hannifin (NYSE: PH), downgrading PH from Overweight to Neutral. In its report, J.P. Morgan writes, "The stock looks cheap on current valuation (trading at 9.3x on JPMe CY'12 EPS of $7.60); however, absent a reacceleration in ISM, we believe the...
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Piper Jaffray Lowers PT on Watts Water To $37
Wednesday, August 3, 2011 - 8:30am | 28Piper Jaffray has lowered the price target on Watts Water Technologies (NYSE: WTS) from $39 to $37 and maintains its Neutral rating.
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UPDATE: SPX Reports Decline In Q2 Profit
Wednesday, August 3, 2011 - 8:12am | 74SPX Corp (NYSE: SPW) reported a decline in its second-quarter profit. SPX reported its quarterly profit at $34.3 million, down from $78.8 million, in the year-ago period. Its revenue climbed 16% to $1.38 billion. The company's earnings per share dropped to $0.67 from $1.57. SPX's adjusted...
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J.P. Morgan Maintains Neutral on ESCO Technologies
Wednesday, August 3, 2011 - 7:50am | 122J.P. Morgan is out with its report today on ESCO Technologies (NYSE: ESE), maintaining Neutral. In its report, J.P. Morgan writes, "Lacking near-term catalysts, we expect ESE to perform in line with the mean of our coverage universe over the next 6-12 months. We are establishing December 2012...
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JP Morgan Downgrades Parker Hannifin To Neutral, Lowers PT To $83
Wednesday, August 3, 2011 - 7:42am | 28JP Morgan has downgraded Parker Hannifin (NYSE: PH) from Overweight to Neutral and has lowered the price target from $105 to $83.
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Jefferies Reiterates Buy and PT of $63 on Danaher
Wednesday, August 3, 2011 - 7:11am | 46Jefferies reiterated its Buy rating on Danaher (NYSE: DHR). At the same time, the rating agency left its price target on the company's stock unchanged at $63. On Tuesday, DHR lost 3.84% of its value to finish the day at $46.57.
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Stocks to Watch for Wednesday 8/03/2011: Fresh 52 Week Highs and Lows
Wednesday, August 3, 2011 - 1:05am | 5002Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels and exit/entry points become more clearly defined. The following stocks hit new 52-week highs in Monday's trading session (listed from highest total volume to...
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UGLY 08-02-2011
Tuesday, August 2, 2011 - 6:52pm | 1054Cusick's Corner Ugly, that is what the market looks like at this stage with all the major indices at their worst levels this year. While this is ugly (and could get uglier), I have a hard time jumping on a ship that has sailed on the downside so long, 8 sessions in the NAZ and S&Ps. I traded...
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Watts Water Technologies Announces Stock Repurchase Program of up to 1M Shares
Tuesday, August 2, 2011 - 4:10pm | 49Watts Water Technologies, Inc. (NYSE: WTS) today announced that its Board of Directors has authorized the repurchase of up to 1,000,000 shares of the Company's Class A Common Stock from time to time on the open market or in privately negotiated transactions.
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Ingersoll-Rand Corp. (IR) If Only You Bought On the Bad News? (Part 5 of 7)
Tuesday, August 2, 2011 - 3:49pm | 1995We have long held the investing philosophy that the best companies to invest in, are those that have the most consistent and highest earnings growth over time. This philosophy is oriented to the long-term buy and hold investor. In other words, we feel that companies with the best long-term track...