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HCN Stock Watch: VAL gets a bump

BY HBSDEALER Staff

On an otherwise bumbling day for HCN stocks, Valspar (VAL) got a small lift of 0.46% following the release of an encouraging earnings report.

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Arrow fires up with Remington

BY HBSDealer Staff

Remington Arms Company, a leading U.S. firearms and ammunitions manufacturer, introduces the Remington T55R target tacker and 505R staples, developed in partnership with Arrow Fastener Company, the creator of the classic T50 stapler. 

“The Remington branded stapler and staples offer an excellent opportunity for repeat sales and add-on purchases,” the company said in a press release.

The Remington-branded product features steel construction, hardened steel working parts and a jam resistant mechanism. It is designed for an easy squeeze double leverage operation and features a visual staple refill window.  

The Remington T55R is designed for fastening targets at the range or in the field, hunting blind construction, securing netting and camouflage as well as general household repairs. 

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Confident Valspar raises guidance for the year

BY HBSDealer Staff

Valspar announced its third-quarter earnings on Tuesday, posting double-digit sales growth that warranted an increase in the company’s fiscal 2014 sales growth guidance.

Net sales of $1.20 billion for the quarter represented a 10.5% year-over-year increase.

The company reported net income of $97.83 million, up from $93.81 in the same quarter last year.

“Our diverse business portfolio continues to deliver strong results, as sales increased 10% and adjusted EPS increased 13% in the third quarter,” said Gary Hendrickson, chairman and CEO. “These results were driven by the successful integration of acquisitions; strong performance from China and Europe; improved sales and profitability in our Coatings segment; benefits of new growth initiatives; investments in innovative products; and the positive impact of productivity initiatives.”

Hendrickson added that the Coatings segment experienced growth across the board, with the strongest momentum in the General Industrial product line.

Valspar now expects approximately 9% growth for the year, up from its previous guidance of 7% to 9%. Its 2014 annual diluted EPS guidance now stands at $4.05 to $4.15, up from the previous range of $3.95 to $4.15.

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