Caterpillar Financial Services posted a second-quarter profit of $146 million, a jump of 32 percent from a year ago, when it took a $23 million hit on currency swings. The West End-based division of equipment manufacturer Caterpillar also got a boost from a higher net yield on its assets and some growth in its total asset base to $36.5 billion.
Kevin Reynolds at Wunderlich Securities has raised his price target for shares of Pinnacle Financial Partners to $40 from $37 after the bank holding company reported its Q2 numbers. Reynolds says investors shouldn't put too much stock in the earnings beat because of a smaller loan loss provision, but he nonetheless likes Pinnacle's long-term prospects. Pinnacle shares (Ticker: PNFP) closed Thursday trading at $36.05 and are up 11 percent so far in 2014.
At Robert W. Baird, analyst Richard Eastman has hiked his rating on Clarcor shares to 'outperform' from 'neutral,' citing better fundamentals, the benefit of recent acquisitions and a decent valuation. He sees Clarcor (Ticker: CLC), which closed Thursday at $60.46, climbing to $67 in the coming quarters.
Keep an eye on shares of Noranda Aluminum (Ticker: NOR) today. They got a nice boost Wednesday after prominent hedge fund manager Larry Robbins — the man who had a lot to do with the sale of Health Management Associates to Community Health Systems — named the Franklin-based company as one of his favorite investing ideas. Now to follow through...
Our/ page for Nashville is a pretty blank slate with an invitation to throw your hat into Pernod Ricard's ring.At this point, the
While Pernod is keen to take advantage of the growing interest in local products, it says it won’t disguise that Our/ vodka is made by the distilling giant behind behemoths such as Beefeater gin and Chivas whisky. The Pernod Ricard name isn’t currently on the Our/Berlin label, but the company says it plans to add it.
A paper and cardboard recycling facility located on Industrial Boulevard in La Vergne has been acquired by Caraustar Industries, an Atlanta-based company that is backed by private-equity firm HIG Capital. The La Vergne center had been owned by SP Recycling Southeast. Terms of the deal are not being disclosed.