The Industrial Sector is trading lower -2.2%, underperforming with the the S&P 500 -1.9% Trading higher following earnings guidance: THR +1.6% Trading lower following earnings guidance: GHM -3.12%, ESL -0.08% Broker Research: FWLT upgraded at Standpoint -2.7%, ENPH -3.9% initiated with an Outperform at Raymond James, TG +2.4% upgraded at Davenport, FCN -5% downgraded at William Blair.
News: GLPW +7% Initiates $0.09 quarterly dividend and authorizes stock repurchase program, THR +0.89% filed for a $250 mln mixed securities shelf offering and an offering of ~18.08 mln shares of common stock by selling shareholders, KTEC +1.05% announces cost reductions (incl 11% workforce reduction) and 500K share repurchase, HII -0.35% Ingalls Shipbuilding awarded $2.38 bln contract for detail design and construction of LHA 7, IIVI -2.2% share repurchase program to purchase up to $25 mln of its Common Stock, FLS -2.2% announces new capital structure strategy, increases share repurchase authorization to $1 bln, ABB -2.3% announces expiration of consent solicitation for its 5.625% senior unsecured notes due 2021 and receipt of requisite consents, DE -2.9% changes to senior mgmt team; Rajesh Kalathur is appointed Senior Vice President and Chief Financial Officer effective Sept 1, 2012, CCIX -3.02% acquires assets of Watteredge in an all-cash transaction valued at ~ $35 mln, GGG -4.4% confirms notice of FTC filing for public comment, and OSN -10%. announces extension of stock repurchase program.






