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Stock Market & Financial Investment News

News Breaks
January 24, 2013
06:51 EDTALBAlbermarle downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Albemarle due to valuation and a slowing earnings growth. Price target raised to $67 from $62.
News For ALB From The Last 14 Days
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January 30, 2015
10:00 EDTALBOn The Fly: Analyst Downgrade Summary
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07:55 EDTALBAlbemarle downgraded to Neutral at RW Baird
As previously reported, Baird downgraded Albemarle to Neutral form Outperform citing significant foreign exchange and oil related headwinds. Baird lowered its price target to $46 from $68 on Albemarle shares.
06:23 EDTALBAlbemarle downgraded to Neutral from Outperform at RW Baird
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January 29, 2015
16:55 EDTALBOn The Fly: Closing Wrap
Stocks on Wall Street struggled for direction for the first half of the session, making several passes across the flat line. The market seemed ready for a positive day after better than expected jobless claims data, and the buyers finally emerged in the second half of the day. The past two days had taken almost 500 points from the Dow, though the blue chip index ended up recapturing about half of those losses with its gains today. ECONOMIC EVENTS: In the U.S., jobless claims plunged by 43K to 265K last week, versus expectations for 300K first-time claims. That was the lowest weekly level in nearly 15 years, though the government cautioned that the inclusion of the Martin Luther King holiday makes the data more difficult to calculate. The pending home sales index dropped 3.7% to 100.7 in December, versus expectations for it to have risen 0.5%. COMPANY NEWS: McDonald's (MCD) was the best performing member of the Dow Jones Industrial Average, rising $4.49, or 5.06%, to $93.27 after announcing last night that Don Thompson will retire as president and CEO on March 1. Steve Easterbrook, who was previously senior executive VP and Chief Brand Officer, was selected to replace Thompson as CEO... Chinese e-commerce giant Alibaba (BABA) reported fourth quarter earnings per share, excluding certain items, that beat analysts' consensus estimate, but its revenue came in below expectations. Shares fell $8.64, or 8.78%, to $89.81 following the report. Yahoo (YHOO), which earlier this week announced that it plans to spin-off its remaining stake in Alibaba in a tax-free transaction, dropped $2.73, or 5.88%, to $43.73 in sympathy. MAJOR MOVERS: Among the notable gainers was Coach (COH), which rose $2.48, or 6.8%, to $38.94 after the luxury handbag maker reported better than expected earnings. Also higher was K12 (LRN), which jumped $3.35, or 30.32%, to $14.40 after its second quarter earnings and revenue topped expectations. Among the noteworthy losers was Qualcomm (QCOM), which declined $7.30, or 10.28%, to $63.69 after the chip maker lowered its outlook for fiscal 2015. It also announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device, which is widely believed to be Samsung's next generation Galaxy S phone. Also lower were shares of specialty chemicals company Albemarle (ALB), which dropped $7.60, or 13.73%, to $47.77 after the company reported Q4 adjusted EPS and revenue that missed analysts' consensus forecasts and guided toward FY15 revenue and profits that also were below expectations. INDEXES: The Dow rose 225.48, or 1.31%, to 17,416.85, the Nasdaq gained 45.41, or 0.98%, to 4,683.41, and the S&P 500 added 19.09, or 0.95%, to 2,021.25.
10:49 EDTALBAlbemarle slides after giving guidance on earnings call
Share of specialty chemicals company Albemarle (ALB) are sharply lower and continuing to slide as its fourth quarter earnings call continues. Last night, the company reported Q4 adjusted EPS and revenue that missed analysts' consensus expectations. On its call this morning, the company said that its resources will be directed towards maximizing the potential of its four core businesses, namely lithium, catalyst, surface treatment and bromine, and it will pursue strategic alternatives for its three other businesses. The company said it will launch its sale process for its non-core businesses in February, with a goal of closing transactions by year end. Albemarle guided toward FY15 revenue of $3.7B-$4B, versus the consensus view of $4.22B. Albemarle said it sees FY15 EPS of $3.15-$3.70. Consensus for FY15 EPS prior to the call stood at $4.95. The company also said it sees potential for "both upside or downside" to its FY15 forecasts, depending on how currency plays out. Albemarle shares are down nearly 12% to $48.72 in morning trading as its earning call continues.
10:39 EDTALBAlbemarle drops 7% after guidance issued on Q4 earning conference call
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10:39 EDTALBAlbemarle sees FY15 EPS $3.15-$3.70, may not compare to consensus $4.95
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10:16 EDTALBAlbemarle says to pursue strategic alternatives for non-core businesses
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January 28, 2015
17:21 EDTALBAlbemarle reports Q4 adjusted EPS 99c, consensus $1.03
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January 20, 2015
07:52 EDTALBAlbemarle announces new organizational structure and senior leadership team
Albemarle announced that as a result of the completion of its acquisition of Rockwood Holdings, it will realign its global business units, effective by the end of the Q1. The new structure aligns the company's strategic assets and businesses to be market focused. The new Albemarle structure will consist of three global business units, or GBUs: Chemetall Surface Treatment, Refining Solutions and Performance Chemicals. Consistent with the new organizational structure, the company also announced its senior leadership team, all reporting to President and CEO Luke Kissam. Joris Merckx will serve as president, Chemetall Surface Treatment. Silvio Ghyoot will serve as president, Refining Solutions. Michael Wilson will serve as president, Performance Chemicals. Matt Juneau will serve as senior vice president, Corporate Strategy and Investor Relations. The leadership team changes will become effective with the realignment of the global business units before the end of the Q1. In the interim, business and investor questions should be routed to the current contact.

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