In a release this afternoon to MHProNews, “Universal Forest Products, Inc. (NASDAQ: UFPI) today announced it has completed the reorganization of its operations and is now operating as UFP Industries, a change announced in August 2019.” That will be our featured focus this evening.
Periodic readers of this business-nightly feature should note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business.
- New year, new highs – Traders monitor stock prices at the New York Stock Exchange, Thursday, Jan. 2, 2020.
- The Dow kicks off 2020 with a record close
- Google’s AI system can beat doctors at finding breast cancer, study says
- What 2020 could bring for the stock market
- 2020 predictions we got horribly wrong
- iMessage from a PC? Yup. If you have a Dell
- This could be the year human spaceflight returns to the United States
- Do you smoke? Then you can’t work for U-Haul in these states
- What we know about Carlos Ghosn’s incredible escape
- How did Carlos Ghosn escape from Japan without any of his three passports?
- The best skills to have on your resume
- Hong Kong protest fallout hits HSBC and the London Stock Exchange
- Opinion: More experience doesn’t mean a higher salary in this job market
- 2019 Jeep Wrangler Rubicon
- Jeep to unveil plug-in hybrid versions of the Wrangler, Cherokee and Compass
- Apple announced a recall of an estimated 432,000 15-inch MacBook Pro laptops due to concerns of overheating batteries that could catch fire. The recall is for 15-inch MacBook Pro laptops sold between September 2015 and February 2017.
- Apple patents surround sound-like technology for a MacBook
- Testing drivers for cannabis is hard. Here’s why
- 10 cars that could make great investments in 2020
- 2020: The year human spaceflight returns to the United States (maybe)
- Elon Musk says Las Vegas tunnel will hopefully be ‘fully operational’ in 2020
- Investors should be optimistic about stocks in 2020
- Thinking of buying a home in 2020? Read this first
- The best ways to show your employees you appreciate them
- 6 ways to be a better boss
- How to step back and delegate without losing control
- Should you text with your boss?
- You’re running your meetings wrong. Here’s how to make them more effective
Headlines from right-of-center Fox Business.
- Stocks rocket into new year as Dow sprints to fastest start since 2013
- All three of the major averages closed in record territory, picking up where they left off in 2019.
- Trump campaign ‘will want for nothing’ as RNC assembles staggering war chest
- Trump campaign’s fourth quarter haul blows past Democratic rivals
- FDA orders major retailers to yank popular baby medicine from shelves
- ‘CHEAT’ BEAT: Why ‘Housewives’ star may escape costly prenup amid divorce rumors
- The biggest threat to Trump’s roaring economy
- Forget China, Trump missed key trade war target in Europe: famed economist
- How Hollywood Foreign Press plans to help ‘save the planet’ at Golden Globes
- Ex-Nissan chief fires back at ‘false’ reports about his great escape
- How sports legend David Stern built NBA into global powerhouse
- CEOs reveal their top economic concern for 2020
- Hillary Clinton takes surprising gig outside America
- Domino’s rips mayor for saying chain ‘exploited’ customers on New Year’s Eve
- 2020’s new taxes, regulations to clobber small businesses
- Judge recuses self from Hunter Biden paternity case, doesn’t say why
- California’s gig worker law is in effect — these groups are fighting it
- A statistician’s advice on how to keep New Year’s resolutions
- Trump administration finalizes crackdown on flavored vape cartridges
- AI in business exploding, IBM says
- Marvel confirms first transgender superhero ‘in a movie that we’re shooting right now’
- Private equity cash reaches record level
- How to get free pancakes at IHOP
- ‘Fortnite’ leads video game market in record $109B spending year
- Dell PCs to let Apple users control iPhones from laptop
- Looking for love in all the wrong places? Try your phone
- Where to start a business? These 10 cities are reportedly best
- U.N. budgeting can help you save money in 2020
- Strong US consumer helping to power economy in 2020
- Luxury wellness retreats and escapes for 2020
- How to make 2020 a year of ‘perfect money focus’
- Judge orders Alex Jones to pay $100,000 in Sandy Hook case
- Sex and the State of the Union: Survey
- Housing outlook 2020: A ‘good year to purchase,’ expert says
- Cop admits making up Starbucks ‘pig’ story that caused outrage
- Airbus takes crown as No. 1 planemaker: Report
- Xbox Series X, PlayStation 5 set for video game console war in 2020
- NEW YORK EXODUS: Residents flee state as population stagnates
- 2020 Democrat Bennet knocks Green New Deal with $6 trillion ‘Real Deal’
- Starbucks customer dies after chasing laptop thieves
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Meet
In a media release to MHProNews, UFPI said the following.
Universal Forest Products is now UFP Industries
New organizational structure in place
GRAND RAPIDS, Mich., Thursday, January 2, 2020 – Universal Forest Products, Inc. (NASDAQ: UFPI) today announced it has completed the reorganization of its operations and is now operating as UFP Industries, a change announced in August 2019. The name UFP Industries more accurately describes the company today.
“We are not just a forest products or wood company anymore,” said CEO Matthew J. Missad. “Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers. Our new segments — UFP Retail, UFP Construction and UFP Industrial — will be much more focused on their individual markets, and with the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization.
“It’s a truly exciting time for us, as we unleash the full power of our people to execute on our opportunities and grow our company.”
UFP Industries has approximately 170 locations and 14,000 employees around the world. Prior to the reorganization, UFP affiliates were organized by region; now they are organized by market.
The company will seek shareholder approval for the change to its corporate name at its next annual meeting of shareholders in April 2020 and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.
In conjunction with the reorganization and name change, the company has updated its website, ufpi.com, with business segment information and introduced new branding that includes a modernized version of its tree logo.
“Our tree logo is deeply rooted in our 65-year history and is well known in our industry as a symbol of excellence,” said Missad. “Our updated logo captures our heritage of performance while pointing to further growth to come.”
Universal Forest Products, Inc. (d/b/a UFP Industries)
UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia. For more about UFP Industries, go to www.ufpi.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company’s reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.
# # #
Other industry related reports are shown below.
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has now celebrated our tenth anniversary.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
“We Provide, You Decide.” © ## (News, analysis and commentary.)
(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)
Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
Connect with us on LinkedIn here and here.