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Stock Market & Financial Investment News

News Breaks
February 13, 2013
05:55 EDTAA, AA, AKS, AKS, BCPC, BCPC, CE, CE, CNX, CNX, DGC, DGC, EMN, EMN, GRA, GRA, MOS, MOSMorgan Stanley to host a conference
Basic Materials Corporate Access Days Conference is being held in New York on February 13-14.
News For AA;AKS;BCPC;CE;CNX;DGC;EMN;GRA;MOS From The Last 14 Days
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July 6, 2015
06:39 EDTCECelanese downgraded to Neutral from Buy at UBS
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July 2, 2015
18:06 EDTCECelanese announces price increase on specialty chemicals
Celanese will increase list and off-list selling prices for the following products effective July 2, 2015, or as contracts allow: Butoxyl; Polysolvan O; Propionic Anhydride; Isobutyric Anhydride; MMA – Methyl Amine; DMA – Dimethyl Amine; TMA – Trimethyl Amine.
13:36 EDTAAOn The Fly: Technical notes on earnings season calendar effects
The doldrums have persisted without a great deal of index volatility heading into Q2 earnings season. Until we are into the bulk of the season, we aren't likely to have sufficient catalysts to move far, barring an exogenous event. What traders need to be aware of is how compressed this earnings season really is. The increased flow of earnings news within a shorter span could lead to some bigger moves. How short? The old school way of determining the bounds of earnings season starts with Alcoa (AA) and ends with Cisco (CSCO). This time around, Alcoa is on July 8 and Cisco is on August 12, putting the season at just over a month in calendar time. Contrast this with Q4 earnings season, which can take nearly seven weeks in some cases. Another factor to be aware of: in the first week of earnings this season, there are just a relative handful of S&P 500 names reporting. By the time Cisco reports, the bulk will be done. We really are looking at more like a three week window. If the direction of earnings surprises are consistent, the market might see its first real push up or down that breaks the tight range with solid momentum. If not, market watchers are likely to see a spate of volatility in a market that has become used to flatter conditions, where volatility has been better for a sale. Choppy earnings could make that strategy more problematic. Planning out ahead is critically important too, as the day of the week can matter. Wednesdays and Thursdays tend to be the peak days for reports, making them more subject to market gyrations. Friday afternoons tend to be a day in which companies with genuinely bad news try to sneak it out. Use the forthcoming holiday wisely; we may be in for a bumpier ride ahead.
05:48 EDTCNXStocks with implied volatility movement; BTU CNX
Stocks with implied volatility movement; Peabody (BTU) 147, CONSOL (CNX) 58 according to iVolatility.
July 1, 2015
18:05 EDTCECelanese increases acetyls prices in Asia outside China
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07:25 EDTAA Alcoa July volatility increases into Q2 and outlook
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June 30, 2015
14:34 EDTAKSIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
08:34 EDTAAAlcoa to close Pocos smelter in Brazil
Alcoa announced that it will permanently close its Poços de Caldas primary aluminum smelter in Brazil on June 30, 2015. The smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved. “The closure of the Poços smelter permanently removes a high-cost smelting facility from the Alcoa system and is another step in creating a more profitable Primary Metals business,” said Alcoa Global Primary Products President Bob Wilt. Once the Poços smelter is closed, Alcoa’s total global smelting capacity will be reduced by 96,000 metric tons, to 3.4 million metric tons. The Poços mine, refinery, aluminum powder plant and casthouse will continue normal operations. As a result of the closure, Alcoa expects to record restructuring-related charges in second quarter 2015 between $100M-$110M after-tax, or 8c-9c per share, of which approximately 60 percent is non-cash.
06:09 EDTCNXCONSOL implied volatility of 49 at upper end of index
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June 29, 2015
13:47 EDTCNXSupreme court ruling could shift thermal coal sentiment, says Morgan Stanley
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10:51 EDTCNXSupreme Court overrules EPA regulations on power plant pollution, The Hill says
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10:41 EDTCNXSupreme court rules EPA unlawful with power plant pollution rules, Reuters says
Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT).
09:04 EDTAAAlcoa estimates cut due to low regional premiums at Morgan Stanley
Morgan Stanley lowered Alcoa 2015-17 EBITDA estimates to reflect declines in regional premiums. The firm lowered Q2 EPS to 21c from 22, below consensus of 23c, but sees drivers in place for a 2H recovery in shares. Morgan Stanley said all-in aluminum prices, including regional premiums, are near six year lows, and expects upstream performance to near a trough at current prices, and for earnings to bottom in Q3. The firm rates shares an Overweight with a lowered price target of $16.
07:40 EDTAAAlcoa estimates lowered below consensus at Stifel
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June 26, 2015
11:08 EDTCNXPeabody plunges after Moody's lowers credit rating
Shares of coal miner Peabody (BTU) are lower in late morning trading after Moody's Investors Service downgraded the company's credit rating last night. WHAT'S NEW: Moody's Investors Service downgraded the ratings of Peabody, including the corporate family rating, to B3 from B2, probability of default rating to B3-PD from B2-PD. The firm noted that the outlook is negative. Moody's said that the downgrade "reflects our expectation of continued deterioration in the company's credit metrics, more precipitous than we had forecasted previously, due to the ongoing decline in the seaborne metallurgical coal markets." The firm expects that the company's Debt/EBITDA, as adjusted, will approach 9x in 2015. Moody's said that although it anticipates some recovery in 2016, it sees the leverage remaining elevated at around 7x. Absent asset sales, the company will generate negative free cash flows in 2015 and 2016, Moody's said in the report. WHAT'S NOTABLE: Moody's said that a further downgrade would be considered if liquidity deteriorated, free cash flows were repeatedly negative and/or Debt/EBITDA exceeded 8x on a sustained basis. PRICE ACTION: Shares of Peabody are down over 9.5% to $2.08 in late morning trading, rebounding from an earlier low of $1.92. OTHERS TO WATCH: Other companies in the coal mining space include Alpha Natural Resources (ANR), Arch Coal (ACI) and CONSOL Energy (CNX).
June 24, 2015
10:43 EDTCNXStocks with call strike movement; BBRY CNX
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09:35 EDTBCPCBalchem downgraded to Hold from Buy at Pivotal Research
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08:18 EDTAAAlcoa volatility flat into Q2 and outlook
Alcoa July call option implied volatility is at 28, August is at 26, October is 27; compared to its 52-week range of 23 to 48, suggesting non-directional price movement into the expected release of Q2 results after the market close on July 8.
07:16 EDTCECredit Suisse to hold a conference
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June 23, 2015
10:03 EDTCNXHigh option volume stocks
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