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Stock Market & Financial Investment News

News Breaks
July 15, 2014
08:54 EDTROC, ALBAlbemarle says Rockwood merge to be accretive to cash earnings in first year
Albemarle (ALB) says it views its merge with Rockwood (ROC) as a "decisive move." Says transactions accelerates growth, enhances earnings profile and doubles Albemarle's size. Expects revenue growth to be well above GDP. Says "well positioned" for core earnings growth drivers to drive business. Says the transaction will generate "strong" free cash flow to allow for the company to continually invest in key growth drivers. Says transaction will enable to Albemarle to have more consistent and predictable earnings growth to drive long-term value creation going forward. Expects transaction to be accretive to cash earnings in the first year and adjusted EPS in the second year. Says combined company will create $500M in cash flow on a pro forma basis in first year, rising substantially going forward as the company grows. Expects the transaction to generate cost synergies of $100M to be fully realized in 2016. Comments made during the conference call in which Albemarle and Rockwood discussed their merger.
News For ALB;ROC From The Last 14 Days
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June 29, 2015
16:22 EDTALBOn The Fly: Top stock stories for Monday
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13:39 EDTALBCabot price target lowered to $52 from $56 at Jefferies after SCOTUS ruling
Jefferies said that the Supreme Court objection to the EPA's Mercury Admissions and Toxic Standard likely delayed a higher pollutants standard by several years. Cabot (CBT), which produces activated carbon used to reduce mercury, will incur an impairment charge of about $450M on the news, the firm noted, while lowering its price target on the shares to $52 from $56. The news removes a source of bromine growth for Albemarle (ALB), the firm said, but it doesn't believe its estimates need to be cut in reaction, citing demand from state emission reduction laws. Jefferies has Buy ratings on Albemarle and Cabot.
June 24, 2015
07:16 EDTALBCredit Suisse to hold a conference
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