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Stock Market & Financial Investment News

News Breaks
December 6, 2012
10:25 EDTBKI, BKI, BKI, UFS, UFS, UFS, UFPI, UFPI, UFPI, SSD, SSD, SSD, SON, SON, SON, RYN, RYN, RYN, RKT, RKT, RKT, PKG, PKG, PKG, PCL, PCL, PCL, PCH, PCH, PCH, LPX, LPX, LPX, KS, KS, KS, IP, IP, IP, GEF, GEF, GEF, CLW, CLW, CLW, WY, WY, WYDA Davidson's paper and forest products analyst holds a conference call
Paper & Forest Products Analyst Chercover provides an industry update and outlook on an Analyst/Industry conference call. Relevant covered companies BKI, CLW, GEF, IP, KS, LPX, PCH, PCL, PKG, RKT, RYN, SON, SSD, UFPI, UFS and WY may be included on the Analyst/Industry conference call to be held on December 10 at 11 am.
News For BKI;CLW;GEF;IP;KS;LPX;PCH;PCL;PKG;RKT;RYN;SON;SSD;UFPI;UFS;WY From The Last 14 Days
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January 26, 2016
07:39 EDTPKGPackaging Corp. 13% selloff yesterday overblown, says Jefferies
Jefferies analyst Philip Ng views the 13% post-earnings selloff yesterday in shares of Packaging Corp. of America as overdone. The price cut by PPW has a 7%- 8% impact to earnings and the market was already pricing in a $40-$50/ton cut, Ng tells investors in a research note. He views containerboard stocks as oversold and keeps a Buy rating on Packaging with a $71 price target.
06:49 EDTPCHPotlatch plans to harvest 4.4M tons in Resource segment during 2016
Company said, "We anticipate better results in 2016 based on a belief that the recovery in the U.S. housing market will continue and that lumber prices will improve. The investments in our lumber mills in 2015 are expected to result in additional production and higher grade recovery this year. We plan to harvest 4.4M tons in our Resource segment and anticipate selling between 20,000 and 25,000 acres in our Real Estate segment in 2016. We are evaluating opportunities to sell timberland as part of our strategy to take advantage of strong private timberland markets and repurchase our stock at a steep discount."
06:48 EDTPCHPotlatch reports Q4 EPS 9c, consensus 6c
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January 25, 2016
17:49 EDTPKGPackaging Corp. sees Q1 EPS $1.00, consensus $1.08
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17:48 EDTPKGPackaging Corp. reports Q4 EPS ex-items $1.08, consensus $1.03
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16:14 EDTKS, PKGOn The Fly: Top stock stories for Monday
Stocks began the session in negative territory and remained there throughout the day. The market has yet to de-couple from oil prices, as stocks continue to move in the direction of the commodity. The averages almost made it back to positive ground in the early afternoon, but with oil down more than 4% the sellers emerged and pushed the market toward session lows. The market continued to lose ground as oil fell further, giving up nearly 6% by the close on the New York Mercantile Exchange, bringing stocks' two day win streak to an end. ECONOMIC EVENTS: In the U.S., the economic calendar was light. The Dallas Fed manufacturing survey, the lone report of note, came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. West Texas Intermediate for March delivery fell $1.85, or 5.8%, to close at $30.34 a barrel on the NYMEX. COMPANY NEWS: Shares of McDonald's (MCD) advanced 0.7% to $119.20 after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S... Twitter (TWTR) fell 4.6% to $17.02 after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares... Tyco (TYC) jumped 11.6% to $34.15 after reaching a merger agreement with Johnson Controls (JCI) which will see Johnson shareholders owning 56% of the combined company's equity. Johnson Controls fell 3.9% to $34.21 following the merger announcement. MAJOR MOVERS: Among the notable gainers was Valeant (VRX), which rose 4.55% to $92.63 after hospitalized CEO Michael Pearson said he is "on the road to recovery" after a bout of pneumonia. The news was followed by announcements that Valeant has sold three of its skincare brands and received FDA acceptance of its biologics license application for psoriasis drug Brodalumab. Also higher was SunEdison (SUNE), which advanced 2.6% to $2.72 after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board. Meanwhile, energy savings firm EnerNOC (ENOC) jumped 69.5% to $7.05 after the Supreme Court ruled in favor of FERC's so-called "demand response" rule, sending energy generators Dynegy (DYN) and Talen Energy (TLN) down a respective 11.6% and 6.2%. Among the noteworthy losers was OncoMed (OMED), which plunged 42.9% to $10.04 after its Phase 2 trial of tarextumab in pancreatic cancer showed futility in an interim analysis. Also lower were containerboard and paper makers KapStone (KS), WestRock (WRK) and Packaging Corp (PKG), which dropped about 21%, 15% and 13%, respectively, after an industry publication reported that prices in the sector had declined. Additionally, Caterpillar (CAT) was the Dow's biggest decliner Monday, sinking 5% to $57.90 after being downgraded to Sell at Goldman Sachs. INDEXES: The Dow fell 208.29, or 1.29%, to 15,885.22, the Nasdaq lost 72.69, or 1.58%, to 4,518.49, and the S&P 500 declined 29.82, or 1.56%, to 1,877.08.
14:29 EDTPKGNotable companies reporting after market close
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12:17 EDTKS, PKGOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as oil prices resumed their slide, giving up some of the surge the commodity saw to close out last week. The stock market, which has been highly correlated with oil lately, continues to be led around by energy prices once again today. ECONOMIC EVENTS: In the U.S., the economic calendar was light with the Dallas Fed manufacturing survey the lone report of note. The survey came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. WTI crude oil dropped about 5% to trade near $30.50 per barrel near midday. COMPANY NEWS: Shares of McDonald's (MCD) advanced a bit over 1% after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S. On the other side of the Dow was Caterpillar (CAT), which fell nearly 4% to lead the bluechip index on the down side after its stock was downgraded to Sell at Goldman Sachs... Twitter (TWTR) fell about 4% after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. MAJOR MOVERS: Among the notable gainers was Tyco (TYC), which rallied 10.8% after it announced that it entered into a definitive merger agreement with Johnson Controls (JCI). Johnson shares fell 2% after the deal announcement. Also higher was Williams Partners (WPZ), which gained 7% after it lowered its estimate of its 2016 growth capital funding needs to $2B, 32% lower than its previous plans. Among the noteworthy losers was OncoMed (OMED), which fell 46% after the company said its Phase 2 ALPINE clinical trial showed futility on an interim analysis. Also lower were KapStone (KS), WestRock (WRK), and Packaging Corp (PKG), which dropped 20%, 13%, and 11%, respectively, after an industry publication reported that prices in the sector had declined. INDEXES: Near midday, the Dow was down 78.00, or 0.48%, to 16,015.51, the Nasdaq was down 23.34, or 0.51%, to 4,567.84, and the S&P 500 was down 11.89, or 0.62%, to 1,895.01.
10:30 EDTIP, KS, PKGContainerboard makers sink after prices cut
The shares of containerboard makers are falling after an industry publication reported that prices in the sector had declined. Citi and Deutsche Bank responded differently to the news. Citi recommended that investors avoid the sector and downgraded two stocks in the space, International Paper (IP) and Packaging Corp. (PKG). However, Deutsche Bank kept Buy ratings on three stocks in the sector - KapStone (KS), Packaging Corp. and WestRock (WRK), predicting that containerboard makers would look to balance supply with demand. BACKGROUND: On Friday night, Pulp & Paper Week lowered its benchmark kraftliner and semichemical medium prices by $15 per ton and $20 per ton, respectively. ANALYST REACTION: Friday's news was unexpected and will probably cause cause box prices to drop, wrote Deutsche Bank analyst Debbie Jones. As a result, analysts' estimates for companies in the sector will decline, Jones stated. However, the companies will respond by taking steps to balance supply with demand, the analyst believes. Moreover, some producers will try to keep prices stable, she stated. Estimating that the price cut would cause a 3%-4% reduction in the companies' earnings before interest taxes, depreciation and amortization, Jones kept Buy ratings on Kapstone Papaer, Packaging Corp. and Westrock. Conversely, Citi anayst Anthony Pettinari downgraded International Paper and Packaging Corp. to Neutral from Buy. The decline in kraftline prices was surprising, given stronger than expected December box shipments and supply discipline by the major companies in the sector, the analyst stated. Although the recent price cuts could be a one-time event, there is a possibility that additional price decreases will follow, making the stocks unattractive, the analyst believes. PRICE ACTION: In early trading, International Paper dropped 5.4% to $34.50, Packaging Corp tumbled 8.2% to $52.90, Kapstone sank 15% to $14.82 and WestRock fell 11.5% to $33.42.
10:16 EDTPKGHigh option volume stocks
High option volume stocks: IRM SWFT STLD AAN PKG NVRO PZZA SYY EDAP SSYS
10:00 EDTKS, PKG, IPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:03 EDTPKG, IPOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
07:50 EDTIP, KS, PKGDeutsche sees Containerboard stocks trading 'aggressively' down
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07:19 EDTPKGPackaging Corp. downgraded to Neutral from Buy at Citi
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07:18 EDTPKG, IPInternational Paper downgraded to Neutral from Buy at Citi
Citi analyst Anthony Pettinari downgraded International Paper (IP) to Neutral after Paper Week reduced January kraftliner prices by 2.4% and corrugated medium prices by 3.7%. The price cuts were the first since 2008-2009, Pettinari tells investors in a research note. The analyst lowered his estimates for International Paper, Packaging Corp. (PKG) and WestRock (WRK) and downgraded both IP and Packaging Corp. to Neutral. He expects the stocks to trade lower today, potentially in the 4%-6% range. Pettinari cut his price target for International Paper shares to $38 from $45. The analyst said he'd not be surprised to see Graphic Packaging (GPK) trade down on the price cuts, even though the company does not produce containerboard. He recommends buying the stock on any pullback.
06:29 EDTKSKapStone downgraded to Underperform from Neutral at Macquarie
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06:29 EDTPKGPackaging Corp. downgraded to Underperform from Neutral at Macquarie
Macquarie analyst Danny Moran downgraded Packaging Corp to Underperform and lowered his price target to $43 from $67 on shares. Moran expects Packaging's premium multiple to erode given his belief that containerboard pricing has peaked and he sees further downside risk from slowing relative volume growth.
January 24, 2016
20:21 EDTIPOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) could announce a significant executive upheaval Monday, with several product heads said to depart and a new Chief Marketing Officer reportedly stepping in. 2. Johnson Controls (JCI) and Tyco (TYC) are in advanced merger talks, according to the Wall Street Journal. 3. Airbus (EADSY) and Boeing (BA) saw mentions on the heels of Iran's aviation summit as the country eyes big orders to modernize its aging fleet after a lifting of sanctions. 4. SunEdison (SUNE) is set to give David Einhorn's Greenlight Capital a seat on its board, the Wall Street Journal reported. 5. International Paper (IP), Newell (NWL) and Houghton Mifflin (HMHC) were discussed positively by Barron's this weekend, while Chipotle (CMG) was warned against.
12:25 EDTIPInternational Paper should rally as much as 50%, Barron's says
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January 22, 2016
16:22 EDTPCL, WYISS recommends Plum Creek Timber holders vote for transaction with Weyerhaeuser
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