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Stock Market & Financial Investment News

News Breaks
January 24, 2013
10:26 EDTALBAlbermarle falls after analysts slash ratings
Chemicals maker Albemarle (ALB) is retreating after multiple research firms downgraded the stock in notes to investors earlier today. JPMorgan downgraded the stock to Neutral from Overweight. The firm believes that the company's earnings per share are likely to decline in the first half of 2013, and it noted that the company's stocks has risen 19% since mid-September, beating the overall market by a wide margin. However, JPMorgan increased its price target on the shares to $67 from $62. Meanwhile, Citigroup analyst P.J. Juvekar downgraded Albemarle to Neutral from Buy. Albemarle's electronics business faces challenges due to weak LCD TV demand and a potential further shift away from PCs, Juvekar believes. Both TVs and PCs use Albemarle's flame retardants, but tablets don't use them, the analyst explained. Moreover, many of Albemarle's refinery customers will have shutdowns in the first half of 2013, and the company's share of profits from a joint venture in Japan is slated to drop to 60% from 70% this year, added Juvekar, who lowered his target on the stock to $71 from $74. Deutsche Bank and Macquarie also lowered their ratings on the stock this morning. Yesterday morning, Albermarle stated that it expected its performance in the first half of 2013 to be weaker than in either half of 2012. In mid-morning trading, Albemarle fell $1.52, or 2.35%, to $63.15.
News For ALB From The Last 14 Days
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September 10, 2014
17:04 EDTALBAlbemarle announces expiration of HSR waiting period for Rockwood acquisition
Albemarle (ALB) announced the expiration of the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the company's previously announced acquisition of Rockwood Holdings (ROC). The waiting period expired at 11:59 P.M. Eastern Daylight Time on September 8.
September 8, 2014
07:21 EDTALBKeyBanc to hold a conference
2014 Basic Materials & Packaging Conference to be held in Boston on September 8-10.
September 5, 2014
10:28 EDTALBHigh option volume stocks
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