BUZZ-Wolseley: brighter outlook gives stock a bump
Wolselely the busiest FTSE 100 stock out of the gates on Tuesday morning (Frankfurt: TDM.F - news) with nearly a third of a day's average volume traded in the first 15 minutes.
** Company sees revenue growing 4-6% in next 6 months.
** US & Nordics offsetting weaker revenue elsewhere, gross margin expands.
** Relatively bright outlook could stem cuts in analyst forecasts for the company that have pressured the stock lower.
** According to StarMine 5 of 21 analysts have cut EPS estimates for next year by an average 7.2% over the past week. (RM (LSE: RM.L - news) : vikram.subhedar.thomsonreuters.com@reuters.net)