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February 26, 2014
04:55 EDTAXLL, AXLL, AXLL, VAL, VAL, VAL, PPG, PPG, PPG, MEOH, MEOH, MEOH, LYB, LYB, LYB, HUN, HUN, HUN, EMN, EMN, EMN, DOW, DOW, DOW, CHMT, CHMT, CHMT, CE, CE, CE, WLK, WLK, WLKAlembic Global Advisors to hold a conference
4th Annual Global Chemicals Conference is being held in Deer Valley, Utah on February 26-28.
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April 20, 2015
07:15 EDTCECelanese valuation attractive despite 16% rally, says Deutsche Bank
Deutsche Bank says shares of Celanese remain attractively valued despite the 16% post-earnings rally on Friday. The firm raised its price target for the stock to $76 from $64 and keeps a Buy rating on the name.
April 17, 2015
16:24 EDTCEOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session deep in negative territory and remained there throughout the day. The losses were broad based, with the S&P 500 losing 1% and the Dow and Nasdaq each sliding about 1.5%. There was little in the way of buying, as the number of declining stocks dwarfed the number of advancing stocks. Fears about Greece exiting the euro, steps taken by securities regulators in China and inflation data here at home were all pointed to as potential contributors to the down day in the market. The slide also coincided with the expiration of options, which can lead to volatility and heavy volume. ECONOMIC EVENTS: In the U.S., the headline Consumer Price Index rose 0.2% in March, versus expectations for it to be up 0.3%. The "core" rate, excluding food and energy prices, rose 0.2%, as expected. The leading economic index rose 0.2% to 121.4 in March, versus expectations for it to be up 0.3%. The University of Michigan consumer sentiment index jumped 2.9 points to 95.9 in the preliminary print for April, topping expectations for a 94.0 reading. In China, announcements by Chinese securities regulators, the Shanghai and Shenzhen stock exchanges, and related bodies raised fears of a selloff in China. The China Securities Regulatory Commission imposed sanctions to try to control margin buying of stocks with borrowed money and the Securities Association of China said it will allow fund managers to lend stocks for short selling to increase the supply of shares. In Europe, strategists reportedly said a lack of progress in negotiations between Greece and its creditors had substantially increased the risk of Greece defaulting on its debt and even exiting the euro. COMPANY NEWS: Shares of both Comcast (CMCSA) and Time Warner Cable (TWC) dropped after Bloomberg, citing sources, reported that lawyers at the Justice Department’s antitrust division are leaning toward making a recommendation to file suit to block the companies' proposed merger. Spokespeople for Comcast and TWC reportedly told Bloomberg they see "no basis" for a lawsuit to block the transaction. Comcast ended the day down $1.25, or 2.09%, to $58.42, while Time Warner Cable shares slid $8.59, or 5.43%, to $149.61... First the Wall Street Journal, then Bloomberg, reported that Teva Pharmaceutical (TEVA) is internally discussing a potential takeover bid for Mylan (MYL). Shares of both moved higher following the reports, which Mylan responded to by stating that it is fully committed to its stand-alone strategy, including its proposal to acquire Perrigo (PRGO). Mylan Chairman Robert Coury said that rumors of potential interest from Teva have been "circulating for some time," but that such a combination is "without sound industrial logic or cultural fit" and would be unlikely to receive antitrust regulatory clearances. Coury added that Mylan's board would "carefully consider" a bid if any party makes an "actual offer" to acquire the company. Shares of General Electric (GE) reported a loss of $1.35 per share due to large charges related to its planned exit from the majority of its GE Capital business. Adjusting for special items, GE's operating earnings per share of 31c topped the consensus forecast by 1c. Additionally, GE said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. MAJOR MOVERS: Among the notable gainers following their earnings reports were Celanese (CE), which rose $9.04, or 15.55%, to $67.18, and Mattel (MAT), which advanced $1.48, or 5.84%, to $26.75. Among the noteworthy losers after their quarterly reports were SerivceNow (NOW), which fell $9.55, or 11.53%, to $73.29, and Advanced Micro Devices (AMD), which dropped 29c, or 10.28%, to $2.58. INDEXES: The Dow declined 279.47, or 1.54%, to 17,826.30, the Nasdaq fell 75.98, or 1.52%, to 4,931.81, and the S&P 500 dropped 23.81, or 1.13%, to 2,081.18.
12:21 EDTCEOn The Fly: Top stock stories at midday
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11:38 EDTDOW, EMN, CECelanese hits new 52-week high after raising FY15 profit outlook
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09:14 EDTCEOn The Fly: Pre-market Movers
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08:01 EDTDOWFord, DowAska to jointly develop carbon fiber for light-weighting applications
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07:35 EDTCECelanese price target raised to $69 from $65 at UBS
UBS raised its price target on Celanese to $69 from $65 following Q1 results, citing the company's increased guidance and cost savings initiatives. UBS reiterated its Buy rating on Celanese shares.
April 16, 2015
19:00 EDTCEOn The Fly: After Hours Movers
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17:13 EDTCECelanese raises FY15 adjusted EPS view to $5.60-$5.90, consensus $5.19
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17:11 EDTCECelanese reports Q1 adjusted EPS $1.72, consensus $1.31
Reports Q1 revenue $1.45B, consensus $1.61B.
17:10 EDTCECelanese raises FY15 EPS outlook
15:23 EDTCENotable companies reporting after market close
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10:00 EDTMEOHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Underweight from Neutral at JPMorgan... Alcatel-Lucent (ALU) downgraded to Buy from Conviction Buy at Goldman... Anglo American (AAUKY) downgraded to Sell from Neutral at Goldman... BAE Systems (BAESY) downgraded to Neutral from Buy at UBS... BHP Billiton (BHP) downgraded to Neutral from Conviction Buy at Goldman... Black Diamond (BDE) downgraded on valuation at Stifel... Boston Private Financial (BPFH) downgraded to Hold from Buy at Sandler O'Neill... Columbus McKinnon (CMCO) downgraded to Neutral from Buy at CL King... CoreSite Realty (COR) downgraded to Hold from Buy at Evercore ISI... Meggitt (MEGGF) downgraded to Sell from Neutral at UBS... Methanex (MEOH) downgraded to Sector Perform from Outperform at Scotia Capital... Nokia (NOK) downgraded to Neutral from Buy at Citigroup... SanDisk (SNDK) downgraded to Sell from Neutral at BTIG... Thomson Reuters (TRI) downgraded to Sector Perform from Outperform at RBC Capital... Turquoise Hill (TRQ) downgraded to Hold from Speculative Buy at TD Securities... Washington Federal (WAFD) downgraded to Neutral from Buy at DA Davidson.
08:32 EDTPPGPPG Industries increases quarterly dividend, approves 2-for-1 stock split
The board of directors of PPG Industries declared a regular quarterly dividend of 72c per share, payable June 12 to shareholders of record May 11. This marks the company’s 467th consecutive dividend payment. PPG’s previous dividend, paid in March, was 67c per share. The company has paid uninterrupted annual dividends since 1899. PPG directors also approved a 2-for-1 split of the company’s common stock for all shareholders of record as of the close of business May 11. On June 12, following payment of the quarterly per-share dividend, each shareholder will also receive a stock dividend of one additional share of common stock for each share held on the record date. PPG common stock will begin trading on a split-adjusted basis on Monday, June 15.
08:12 EDTPPGPPG Industries announces business restructuring program
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08:12 EDTPPGPPG Industries reports Q1 adjusted EPS $2.37, consensus $2.34
Reports Q1 revenue $3.7B, consensus $3.79B. “Looking ahead, we anticipate stronger global economic growth in the coming quarters, including a resumption of growth in Europe and a return to a higher growth rate in the U.S.,” the company said. “We remain well-positioned to leverage this growth into strong earnings contributions, given our lower cost base stemming from our continued cost management actions. We remain focused on aggressively managing our costs and are initiating restructuring actions concentrated on securing the synergies we committed to with our recent acquisitions, along with other global productivity measures in certain businesses and regions.”
07:52 EDTMEOHMethanex downgraded to Sector Perform from Outperform at Scotia Capital
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April 13, 2015
19:02 EDTCECelanese to increase prices for vinyl acetate monomer
Celanese Corporation will increase list and off-list selling prices for vinyl acetate monomer. This increase will be incremental to any previous increases that were announced but not implemented and will be effective immediately, or as contracts allow.
09:14 EDTVALValspar opens new advanced manufacturing center in Tianjin, China
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April 10, 2015
09:30 EDTMEOHMethanex downgraded to Hold from Buy at TD Securities
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