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Conference/Events
Steelcase participates in a conference call hosted by Sidoti » 07:46
05/26/20
05/26
07:46
05/26/20
07:46
SCS

Steelcase

$11.52 /

+0.395 (+3.55%)

Conference call with…

Conference call with management to be held on May 26 hosted by Sidoti.

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SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

05/22/20 Benchmark
Steelcase initiated with a Buy at Benchmark
10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

Hot Stocks
Steelcase calls back most of manufacturing workforce » 07:36
05/26/20
05/26
07:36
05/26/20
07:36
SCS

Steelcase

$11.52 /

+0.395 (+3.55%)

Steelcase announced it…

Steelcase announced it has called back most of its manufacturing workforce from temporary layoffs as government restrictions related to the COVID-19 pandemic are beginning to ease. All of the company's manufacturing and distribution locations around the world are open, with some locations in the process of scaling up capacity levels and a few locations continuing to be subject to government restrictions that prevent them from operating at normal capacity. Many office and showroom locations are also beginning to reopen, although some remain restricted under stay-at-home mandates. As of May 1, 2020, the company's backlog of customer orders was approximately $700 million, or approximately 23% higher than the prior year, as government mandates significantly limited the company's ability to manufacture products and fulfill orders throughout much of the world over the last two months. The company expects to manufacture and ship most of its current backlog by the end of July. As the company increases production and begins to reopen offices and showrooms around the world, the company announced that it is easing the reductions in pay and hours implemented in March and April across much of its global salaried workforce. In the U.S., the company has eased the pay and hour reductions for most of its salaried employees from 50% to 20%, and the company will continue to pay the full cost of employee health insurance premiums while the temporary pay reductions are in effect. Similar pay and/or work hour reductions are in place globally and in some cases are also being eased from previous reductions, with variations on a country-by-country basis. The company eased the reductions in base pay for the company's CEO from a $1 annual salary to a 50% base pay reduction and for the company's other executive officers from a 60% reduction to a 20% reduction. The company's Board of Directors also has lowered the reduction in their cash retainer from a 100% reduction to a 50% reduction. As previously announced on March 24, the company also has made significant reductions in its operating expenses during the first quarter of fiscal 2021 by eliminating travel and events, overtime, temporary labor and annual merit increases and scaling back project spending, as well as significantly reducing capital expenditures by delaying longer-term projects. The company intends to maintain these spending reductions while incoming order levels remain significantly impacted by the global pandemic. As of May 1, 2020, the company's total liquidity was approximately $774 million, comprised of cash, cash equivalents and the cash surrender value of company-owned life insurance, compared to $701 million at the end of fiscal 2020. The increase in liquidity during the first two months of the first quarter of fiscal 2021 reflected: $250 million of borrowings under the company's global credit facility; $151 million of estimated variable compensation payments and benefit plan contributions relating to fiscal year 2020 as well as retirement and deferred compensation plan payments; $39 million of share repurchases in the first three weeks of March made under a Rule 10b5-1 repurchase plan entered into in December 2019; $8 million of quarterly dividends paid in April 2020, which represented a 53% reduction compared to the quarterly dividends paid in January 2020; and $21 million of estimated net positive cash flow from working capital reductions, net of operating losses and other items.

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SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

05/22/20 Benchmark
Steelcase initiated with a Buy at Benchmark
10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

Hot Stocks
Steelcase says March, April revenue decreased 39% versus last year » 07:34
05/26/20
05/26
07:34
05/26/20
07:34
SCS

Steelcase

$11.52 /

+0.395 (+3.55%)

Revenue for the fiscal…

Revenue for the fiscal months of March and April decreased 39 percent compared to the prior year, with year-over-year decreases of 21% in March and 60% in April. Through the first three weeks in March, the company estimates revenue increased approximately 10 percent compared to the prior year, then declined significantly over the remainder of March and April while many of the company's manufacturing facilities and distribution centers were closed under government mandate. Adjusted for currency translation effects and a divestiture, orders declined 31 percent in March and April compared to the prior year. Orders were relatively flat compared to the prior year during the first three weeks of March, then declined 42 percent over the remainder of March and April compared to the prior year.

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SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

05/22/20 Benchmark
Steelcase initiated with a Buy at Benchmark
10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

SCS Steelcase
$11.52 /

+0.395 (+3.55%)

Friday
Initiation
Steelcase initiated with a Buy at Benchmark » 06:24
05/22/20
05/22
06:24
05/22/20
06:24
SCS

Steelcase

$11.13 /

+0.055 (+0.50%)

Benchmark analyst Reuben…

Benchmark analyst Reuben Garner initiated coverage of Steelcase with a Buy rating.

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SCS Steelcase
$11.13 /

+0.055 (+0.50%)

SCS Steelcase
$11.13 /

+0.055 (+0.50%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
SCS Steelcase
$11.13 /

+0.055 (+0.50%)

SCS Steelcase
$11.13 /

+0.055 (+0.50%)

SCS Steelcase
$11.13 /

+0.055 (+0.50%)

Over a week ago
Conference/Events
Steelcase participates in a conference call with Benchmark » 10:25
04/29/20
04/29
10:25
04/29/20
10:25
SCS

Steelcase

$10.91 /

+0.41 (+3.90%)

Construction Analyst…

Construction Analyst Garner holds a conference call with CFO Sylvester and Investor Relations O'Meara on April 29 at 11 am hosted by Benchmark.

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SCS Steelcase
$10.91 /

+0.41 (+3.90%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
Conference/Events
Steelcase participates in a conference call with Benchmark » 04:55
04/29/20
04/29
04:55
04/29/20
04:55
SCS

Steelcase

$10.50 /

+0.41 (+4.06%)

Construction Analyst…

Construction Analyst Garner holds a conference call with CFO Sylvester and Investor Relations O'Meara on April 29 at 11 am hosted by Benchmark.

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SCS Steelcase
$10.50 /

+0.41 (+4.06%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
Over a month ago
Conference/Events
Steelcase participates in a conference call with Benchmark » 11:42
04/27/20
04/27
11:42
04/27/20
11:42
SCS

Steelcase

$9.95 /

+0.38 (+3.97%)

Construction Analyst…

Construction Analyst Garner holds a conference call with CFO Sylvester and Investor Relations O'Meara on April 29 at 11 am hosted by Benchmark.

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SCS Steelcase
$9.95 /

+0.38 (+3.97%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
Hot Stocks
Steelcase to produce 6K isolation masks, 12.5K face shields per week » 17:36
03/27/20
03/27
17:36
03/27/20
17:36
SCS

Steelcase

$10.65 /

-0.54 (-4.83%)

Steelcase announced it…

Steelcase announced it has already started and continues to manufacture and deploy critical equipment supplies for healthcare providers on the frontlines of the battle against the COVID-19 global pandemic. Among the supplies Steelcase is producing are masks for use in clinical environments; facial shields for clinicians in direct contact with patients; and social screens, desktop and floor mounted, for screening and communicating with visitors at safe social distances. Steelcase is using its plants, model shop and innovation center to rapidly develop solutions that will be built to scale and distributed to medical facilities. The company is working in partnership with healthcare professionals to approve designs for prompt turnarounds. Steelcase is set to produce 6,000 isolation masks and 12,500 face shields per week, just in its Grand Rapids, Mich. facilities. The company is working hard to expand production to other geographies including Alabama, Mexico, Germany and through key partners.

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SCS Steelcase
$10.65 /

-0.54 (-4.83%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
On The Fly
Fly Intel: After-Hours Movers » 18:44
03/24/20
03/24
18:44
03/24/20
18:44
NKE

Nike

$72.41 /

+9.57 (+15.23%)

, SCS

Steelcase

$10.06 /

+0.63 (+6.68%)

, SQ

Square

$46.30 /

+6.27 (+15.66%)

, TTEC

TTEC Holdings

$33.95 /

+3.64 (+12.01%)

, BRKR

Bruker

$34.54 /

+2.64 (+8.28%)

, HOME

At Home Group

$2.80 /

+0.505 (+22.05%)

, SNX

Synnex

$80.78 /

+6.46 (+8.69%)

, GO

Grocery Outlet

$33.05 /

+1.62 (+5.15%)

, EOG

EOG Resources

$39.82 /

+5.16 (+14.89%)

, FB

Facebook

$161.22 /

+13.52 (+9.15%)

Check out this…

Open Full Text

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NKE Nike
$72.41 /

+9.57 (+15.23%)

03/24/20 Wedbush
Microsoft, Alphabet among stocks in Wedbush's Shopping List
03/20/20
Fly Intel: Top five analyst upgrades
03/20/20 BofA
Nike upgraded to Buy on market share outlook at BofA
03/20/20 BofA
Nike upgraded to Buy from Neutral at BofA
SCS Steelcase
$10.06 /

+0.63 (+6.68%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global
SQ Square
$46.30 /

+6.27 (+15.66%)

03/23/20 KeyBanc
Square price target lowered to $55 from $90 at KeyBanc
03/23/20 KeyBanc
KeyBanc most positive near-term on Shopify, PayPal amid COVID-19 outbreak
03/23/20 Evercore ISI
Square upgraded to In Line from Underperform at Evercore ISI
03/20/20 SunTrust
Square price target lowered to $55 from $100 at SunTrust
TTEC TTEC Holdings
$33.95 /

+3.64 (+12.01%)

01/17/20
Fly Intel: Top five analyst initiations
01/17/20 Cowen
TTEC Holdings an underappreciated story, Cowen starts with Outperform
01/17/20 Cowen
TTEC Holdings initiated with an Outperform at Cowen
01/14/20 BofA
TTEC Holdings initiated with a Buy at BofA
BRKR Bruker
$34.54 /

+2.64 (+8.28%)

03/17/20 Needham
Needham adds NeoGenomics to Conviction List, boosts target to $33
01/07/20 Wells Fargo
Wells Fargo initiates Life Science Tools, Services, Diagnostics Sector
01/07/20 Wells Fargo
Bruker initiated with an Overweight at Wells Fargo
01/06/20 Citi
Bruker initiated with a Neutral at Citi
HOME At Home Group
$2.80 /

+0.505 (+22.05%)

01/21/20 KeyBanc
At Home Group downgraded to Sector Weight from Overweight at KeyBanc
12/06/19 Jefferies
At Home Group downgraded to Hold at Jefferies until visibility improves
12/06/19 Jefferies
At Home Group downgraded to Hold from Buy at Jefferies
12/05/19
Fly Intel: Top five analyst downgrades
SNX Synnex
$80.78 /

+6.46 (+8.69%)

03/24/20 Loop Capital
Synnex price target lowered to $112 from $175 at Loop Capital
01/21/20 Spin-Off Research
Synnex initiated with a Buy at Spin-Off Research
01/13/20 Citi
Synnex price target raised to $175 from $140 at Citi
01/10/20 Barrington
Synnex price target raised to $150 from $118 at Barrington
GO Grocery Outlet
$33.05 /

+1.62 (+5.15%)

01/29/20
Fly Intel: Top five analyst initiations
01/29/20 Craig-Hallum
Grocery Outlet initiated with a Buy at Craig-Hallum
11/12/19 Jefferies
Grocery Outlet comps remain well above industry trend, says Jefferies
08/14/19 Jefferies
Grocery Outlet price target raised to $50 from $41 at Jefferies
EOG EOG Resources
$39.82 /

+5.16 (+14.89%)

03/24/20 Piper Sandler
EOG Resources downgraded to Neutral from Overweight at Piper Sandler
03/23/20 BofA
BofA double upgrades Chevron to Buy amid six Oil and Gas rating changes
03/23/20 BofA
EOG Resources upgraded to Buy from Neutral at BofA
03/20/20 MKM Partners
Laredo Petroleum, Apache, Comstock Resources upgraded to Buy at MKM Partners
FB Facebook
$161.22 /

+13.52 (+9.15%)

03/17/20 Wedbush
Facebook added to Securities Investment Committee's Best Ideas List at Wedbush
03/11/20 Mizuho
Mizuho says own Internet stocks that benefit from travel restrictions
03/06/20 Needham
Facebook earnings estimates reduced at Needham on coronavirus impact
03/05/20
Snap upgraded to Buy from Neutral at MKM Partners
Hot Stocks
Steelcase announces reductions in people costs » 16:35
03/24/20
03/24
16:35
03/24/20
16:35
SCS

Steelcase

$10.06 /

+0.63 (+6.68%)

The company has…

The company has temporarily reduced or suspended operations at many of its manufacturing locations and distribution centers around the world, typically in response to government orders related to COVID-19. This currently includes facilities in the U.S., France, India and Malaysia and will soon include Spain and the U.K. The affected U.S. facilities currently include manufacturing and distribution centers in Michigan, California, Pennsylvania and Texas. This will temporarily, but significantly, reduce the company's ability to make and ship products and therefore recognize revenue and generate cash beginning in the Q1 of FY21. Cash outflows related to operating expenses are being reduced by eliminating travel and events, overtime, temporary labor and annual merit increases and scaling back project spending. The company is also taking steps to significantly reduce capital expenditures by delaying longer-term projects. Operating expenses are being further reduced by lowering people costs. This includes temporarily reducing the base pay of the CEO to $1 and of members of the company's executive team by 60%. The Board of Directors has elected to reduce their cash retainer to zero. The actions being taken by the company also include significant reductions in people costs for those plants which reduce or suspend operations. As an example, nearly all of the company's hourly manufacturing and distribution employees in Michigan are beginning a temporary layoff today, and the company has committed to pay the full cost of employee health insurance premiums during this period. In order to conserve capital during this period of disruption, the company announced today that nearly all U.S.-based salaried employees will temporarily take a 50% base pay cut and a similar reduction in hours.The reductions will be less for some lower-paid workers and higher for some higher-paid workers. The company is also taking steps to manage working capital carefully. The company anticipates its finished goods inventory could increase as customers face their own local closures and are unable to receive products. The company's raw material and work in process inventories also could increase as it receives order cancellations. The company is taking steps to work with its customers and anticipate these problems to reduce the potential impact.

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SCS Steelcase
$10.06 /

+0.63 (+6.68%)

10/07/19 Raymond James
Raymond James steps away from three office furniture stocks
10/07/19 Raymond James
Steelcase downgraded to Market Perform from Strong Buy at Raymond James
09/23/19 Raymond James
Steelcase price target raised to $23 from $21 at Raymond James
07/17/19 Seaport Global
Steelcase downgraded to Neutral from Buy at Seaport Global

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