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GBX

Greenbrier

$36.35

-0.15 (-0.41%)

06:08
10/13/16
10/13
06:08
10/13/16
06:08

Greenbrier, Astra Rail to form new company

Greenbrier and Astra Rail Management GmbH announced plans to form a new company, Greenbrier-Astra Rail, that will create an end-to-end, Europe-based freight railcar manufacturing, engineering and repair business. The combined enterprise will be formed between Greenbrier's European operations headquartered in Swidnica, Poland and Astra Rail based in Germany and Arad, Romania. It will be led by an experienced Europe-based management team from both companies. Greenbrier-Astra Rail will offer manufacturing and service capability in Europe with greater scale and efficiency for current customers. It also provides the opportunity to pursue growth in railcar markets in the Gulf Cooperation Council nations and Eurasia. As partial consideration for its majority interest, Greenbrier will pay Astra Rail EUR 30M at closing and EUR 30M 12 months after closing. Greenbrier expects the transaction to be accretive to earnings per share by the end of fiscal year 2017. Greenbrier-Astra Rail will be controlled by Greenbrier with an approximate 75% interest. Astra Rail's Chairman Thomas Manns will own the remainder of the new company. In addition to his ownership stake, Manns will become Chairman of the Supervisory Board of Greenbrier-Astra Rail and will lead the new company's commercial operations, working closely with its Management Board and Jim Cowan, President of Greenbrier International. Greenbrier-Astra Rail will be headquartered in the Netherlands and will have principal operations in Poland and Romania. Greenbrier-Astra Rail will have nearly 4,000 employees and 6 production and repair facilities across Europe.

GBX Greenbrier
$36.35

-0.15 (-0.41%)

04/12/16
COWN
04/12/16
NO CHANGE
COWN
Outperform
Rail equipment outlook not as bad as thought, says Cowen
Cowen analyst Matt Elkott said the firm's rail shipper survey revealed that half those surveyed will or may place railcar orders in the next twelve months. Elkott said the survey had a net positive result for the OEM industry in general and particularly for Trinity Industries (TRN) and Greenbrier (GBX), which build the railcar types that could see solid demand in the next twelve months. The firm keeps Outperform ratings on both names.
06/20/16
LBOW
06/20/16
DOWNGRADE
LBOW
Neutral
Greenbrier downgraded to Neutral from Buy at Longbow
06/22/16
COWN
06/22/16
NO CHANGE
COWN
Outperform
FreightCar America a likely acquisition target during downturn, says Cowen
Cowen believes there will be a prolonged down cycle in the freight car manufacturing sector. The firm thinks consolidation could limit margin pressure and outlines several possible transactions. Cowen views an acquisition of FreightCar America (RAIL) by Greenbriar (GBX) as one of the more likely transactions due to its complementary nature and immediate accretion. Other combinations include Greenbriar/American Railcar (ARII), a Greenbriar/National Steel Car deal, an acquisition of FreightCar America by American Railcar, and Railcar being bought by private equity or taking itself private, the firm said.
09/30/16
LYON
09/30/16
INITIATION
Target $35
LYON
Underperform
Greenbrier initiated with an Underperform at CLSA
CLSA analyst Kristine Kubacki initiated Greenbrier with an Underperform and a $35 price target saying visibility on the depth and duration of the railcar trough is limited.

TODAY'S FREE FLY STORIES

MS

Morgan Stanley

$55.35

0.75 (1.37%)

, BK

BNY Mellon

$57.89

0.35 (0.61%)

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Earnings
Notable companies reporting before tomorrow's open »

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MS

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BK

BNY Mellon

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PPG

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KeyCorp

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ARNA

Arena Pharmaceuticals

$34.36

0.48 (1.42%)

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ROSE

Rosehill Resources

$7.96

0.01 (0.13%)

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COP

ConocoPhillips

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Initiation
ConocoPhillips initiated  »

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HES

Hess Corp.

$54.02

0.48 (0.90%)

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OXY

Occidental Petroleum

$75.86

0.59 (0.78%)

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Initiation
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  • 14

    Feb

JUNO

Juno Therapeutics

$69.25

23.65 (51.86%)

19:53
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19:53
Downgrade
Juno Therapeutics rating change  »

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WP

Worldpay

$77.89

-0.37 (-0.47%)

19:52
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19:52
Upgrade
Worldpay rating change  »

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FRAC

Keane Group

$18.51

0.63 (3.52%)

19:52
01/17/18
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19:52
Syndicate
Keane Group 13.3M share Secondary priced at $18.25 »

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  • 18

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BOOT

Boot Barn

$18.00

-1.1 (-5.76%)

19:50
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Syndicate
Boot Barn 6M share Secondary priced at $17.25 »

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  • 18

    Jan

PGH

Pengrowth Energy

$0.82

-0.0076 (-0.92%)

19:27
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Hot Stocks
Pengrowth Energy announces $65M 2018 capital budget »

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INTC

Intel

$44.39

1.25 (2.90%)

19:24
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Intel says issued firmware updates for 90% of CPUs in past vie years »

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  • 17

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OBE

Obsidian Energy

$1.21

-0.03 (-2.42%)

19:21
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Obsidian Energy says willing to work with FrontFour on board views »

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TOSBF

Toshiba, also use TOSYY

, TOSYY

Toshiba, also use TOSBF

$16.95

-0.01 (-0.06%)

19:11
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Periodicals
Toshiba's Westinghouse to forgo bankruptcy, Reuters reports »

Westinghouse Electric…

TOSBF

Toshiba, also use TOSYY

TOSYY

Toshiba, also use TOSBF

$16.95

-0.01 (-0.06%)

BAM

Brookfield

$43.10

0.42 (0.98%)

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RDS.A

Royal Dutch Shell

$70.20

0.22 (0.31%)

, RDS.B

Royal Dutch Shell

$72.34

0.35 (0.49%)

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Periodicals
Shell, BP each agree to purchase Libyan oil, Bloomberg reports »

Royal Dutch Shell (RDS.A)…

RDS.A

Royal Dutch Shell

$70.20

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RDS.B

Royal Dutch Shell

$72.34

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BP

BP

$42.88

0.42 (0.99%)

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  • 18

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AAPL

Apple

$179.10

2.91 (1.65%)

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Trump says Apple investments 'huge win for American workers' »

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  • 01

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MPVD

Mountain Province Diamonds

$2.83

0.075 (2.73%)

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WAC

Walter Investment

$0.76

0.0347 (4.81%)

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TM

Toyota

$140.72

2.75 (1.99%)

, KBSTY

Kobe Steel

18:10
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Periodicals
Toyota not affected by Kobe Steel false data scandal, Nikkei reports »

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TM

Toyota

$140.72

2.75 (1.99%)

KBSTY

Kobe Steel

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CBOE

Cboe Global Markets

$131.52

0.73 (0.56%)

, BTC

Bitcoin

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Hot Stocks
Cboe conducts first settlement of Cboe bitcoin futures »

Cboe Global Markets…

CBOE

Cboe Global Markets

$131.52

0.73 (0.56%)

BTC

Bitcoin

BITCOIN

Bitcoin

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  • 09

    Feb

GWRE

Guidewire

$75.64

0.19 (0.25%)

17:46
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Guidewire director sells 6,000 common shares »

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AAPL

Apple

$179.10

2.91 (1.65%)

17:40
01/17/18
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Recommendations
Apple analyst commentary at Piper Jaffray »

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  • 01

    Feb

OBE

Obsidian Energy

$1.21

-0.03 (-2.42%)

17:36
01/17/18
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Hot Stocks
Breaking Hot Stocks news story on Obsidian Energy »

FrontFour reports 5.7%…

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SN

Sanchez Energy

$5.81

0.16 (2.83%)

17:33
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Breaking Hot Stocks news story on Sanchez Energy »

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  • 15

    May

SN

Sanchez Energy

$5.81

0.16 (2.83%)

17:32
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Hot Stocks
Sanchez Energy sees FY18 capital budget of $420M-$470M »

Sanchez Energy 2018…

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