Industry News

Forward Air Corporation today lowered its third-quarter 2016 year-over-year revenue growth guidance range to -2% to +2% from a previously announced range of 1% to 5%. The Company also lowered its adjusted income guidance range to $0.48 to $0.52 per diluted share from a previously announced range of $0.61 to $0.65. The change in the Company’ s revenue and adjusted income guidance was driven by lower freight volumes."/>
Forward Air Corporation Revises Third Quarter 2016 Guidance
SolarCity's merger with Tesla Motors could be delayed by four shareholder lawsuits challenging the $2.3 billion acquisition. The lawsuits are another obstacle that could delay Tesla's acquisition of the solar energy installer at a time when both companies are burning through millions in cash and facing the need to raise more money in the coming months. One of the lawsuits is seeking an injunction to prevent the merger and block Tesla from holding a shareholder vote..."/>
4 lawsuits may delay SolarCity, Tesla deal [The Buffalo News, N.Y.]
IDEX CORPORATION announced today that it has scheduled the broadcast of the company’ s third quarter earnings conference call over the Internet on Tuesday, October 18, 2016 at 9:30 a.m. CT. Chairman and Chief Executive Officer Andrew Silvernail and Vice President, Interim Chief Financial Officer and Chief Accounting Officer, Michael Yates will discuss the company’ s third quarter 2016 financial performance and respond to questions from the financial..."/>
IDEX Corporation to Webcast Third Quarter 2016 Earnings Call
Spirit Airlines. It has been a little less than five months since the factory delivered its first A321, which was picked up by JetBlue in late April. Airbus has said one goal for its U.S. manufacturing operation is to reach "Level Four" production, at which point it will be producing four planes per month."/>
Mobile's Airbus plant delivers 10th U.S.-built jetliner [Alabama Media Group, Birmingham]
BAE Systems plant will be one of two locations helping fulfill a $54 million contact to provide 32 upgraded howitzers to the Brazilian Army. According to a news release, work will begin in October in Anniston and at the company's York, Penn. plant. The contract calls for M109A5+ self-propelled howitzers to be delivered by the last quarter of 2018.."/>
BRIEF: Anniston BAE Systems providing $54 million howitzer upgrades to Brazil [Alabama Media Group, Birmingham]
MYR Group Inc., a leading specialty contractor serving the electrical infrastructure market in the United States, announced it has executed a contract with Cross Texas Transmission, an affiliate of LS Power, to construct the new Limestone to Gibbons Creek transmission line. The project consists of approximately 68 miles of 345- kilovolt transmission in southeast Texas and is part of the 345 kV Houston Import Project. The contract is valued in..."/>
MYR Group Inc. Awarded Contract with Cross Texas Transmission to Construct Approximately 68 Miles of 345kV Transmission Line
Navios Maritime Holdings Inc. announced today that it commenced an offer to exchange cash and/or newly issued shares of Common Stock of Navios Holdings, for any and all outstanding American Depositary Shares, each representing 1/ 100 th of a share of either 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock, or 8.625% Series H Cumulative Redeemable Perpetual Preferred Stock. The Company also commenced a consent solicitation.."/>
Navios Maritime Holdings Inc. Announces Preferred Stock Exchange Offer and Consent Solicitation
MSA Safety Inc. today announced that it has acquired Senscient, Inc., a leader in laser-based gas detection technology that can be used in a broad range of industrial, oil and gas production and petrochemical processing applications. The acquisition of Senscient strengthens MSA's leading position in the global market for fixed gas and flame detection systems, representing a key step in the execution..."/>
MSA Acquires Senscient, Inc.
Lennox International Inc. announced the appointment of Max H. Mitchell as a member of its board of directors, effective September 16, 2016. Mitchell is President and Chief Executive Officer of Crane Co., a diversified manufacturer of highly engineered industrial products. "We're excited to welcome Max as a member of the board of directors of Lennox International," said Todd Bluedorn, Lennox International's chairman and chief executive officer."/>
Lennox International appoints Max H. Mitchell to board of directors
Navios Maritime Holdings Inc. announced today that it entered into a $70.0 million secured loan facility maturing in November 2018. The Loan Facility provides the Company with additional financial flexibility for working capital including the repurchase of debt and/or equity securities.. The Loan facility bears interest of 8.75%, compounded semi-annually, and is secured by all of the Company's interest in Navios Maritime Acquisition Corporation,..."/>
Navios Maritime Holdings Inc. Obtains $70 Million Secured Loan
Sino-Global Shipping America, Ltd., a non-asset based global shipping and freight logistic integrated solution provider, today announced its financial and operating results for the year ended June 30, 2016. The Company has also provided extensive industry information on its Form 10- K filed this afternoon, and management encourages investors to review the document for both background on Sino-Global's business and history as well as..."/>
Sino-Global Announces 2016 Year End Financial Results
Orion Energy Systems, Inc., a leading designer and manufacturer of high-performance, energy-efficient retrofit lighting platforms, filed a complaint in the United States Eastern Wisconsin District Court against Energy Bank, Inc. of Manitowoc Wisconsin for alleged patent infringements and unfair competition under the Lanham Act. Orion has an extensive patent..."/>
Orion Energy Systems Files Complaint Against Energy Bank Alleging Patent Infringement
Navios Maritime Acquisition Corporation, announced today that it has agreed to provide a $70 million secured loan facility maturing in November 2018 to Navios Maritime Holdings Inc... The Loan Facility bears interest of 8.75%, compounded semi-annually and is secured by all of Navios Holdings' interest in Navios Acquisition, composed of 65,301,220 shares of common stock and 1,000 preferred shares and 78.5% of Navios Holdings’ interest in Navios South..."/>
Navios Maritime Acquisition Corporation Provides a Secured Loan of $70 Million to Navios Holdings Inc.
SP Plus Corporation,, a leader in parking management, ground transportation and ancillary services, today announced it has assumed management of the Millennium Garages in downtown Chicago.. SP+— the largest parking company in North America— now operates the 3.8 million-square-foot parking system containing 9,176 parking spaces spread throughout four garages. The garages are located underneath Chicago’ s Millennium, Grant and Maggie Daley Parks."/>
SP+ Commences Management of Largest U.S. Underground Parking System
FedEx Express, FedEx Ground and FedEx Freight, subsidiaries of FedEx Corp., will increase shipping rates effective January 2, 2017.. FedEx Express will increase shipping rates by an average of 3.9% for U.S. domestic, U.S. export and U.S. import services. FedEx Ground and FedEx Home Delivery will increase shipping rates by an average of 4.9%."/>
FedEx to Increase Shipping Rates for Express, Ground and Freight Services
Wabash National Corporation, a diversified industrial manufacturer and North America’ s leading producer of semi-trailers and liquid transportation systems, today announced the appointment of Brent Yeagy as President and Chief Operating Officer. Yeagy was named to the Board of Directors of the corporation. Both appointments are effective on October 1, 2016.."/>
Wabash National Corporation Announces Appointment of Brent Yeagy as President and COO and as a Director of the Company
HNI Corporation announced today that revenue and earnings for the third quarter and fiscal year 2016 are expected to be below the Corporation's previous outlook. Demand in the office furniture and hearth segments is expected to be lower than previously forecasted. Office furniture business sales will be lower than expected due to overall softer than anticipated demand, subdued small business confidence and lower than anticipated..."/>
HNI Corporation Updates Earnings Guidance For Third Quarter And Fiscal Year 2016

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