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Stock Market & Financial Investment News

News Breaks
March 19, 2013
10:30 EDTCBTCabot reports receipt of operating permits for new mine in Texas
Cabot Corporation announced that Cabot Norit Activated Carbon has received operating permits for its new mine near Marshall, Texas. As part of Cabot’s strategic plan to meet the anticipated quadrupling of demand for activated carbon for use in the coal-fired utility market, this investment is expected to begin production in 2014 and produce lignite for approximately 50 years, Cabot said. In addition to these operating permits for the new mine, Cabot has also secured permits and developed plans for seven new manufacturing lines in North America that give Cabot the ability to significantly increase current production capacity of their mercury control products. In preparation for the new mine, Cabot has purchased and relocated a dragline to the new mine site.
News For CBT From The Last 14 Days
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June 30, 2015
09:10 EDTCBTCabot CEO: Company ‘disappointed’ with Supreme Court MATS ruling
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June 29, 2015
16:22 EDTCBTOn The Fly: Top stock stories for Monday
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14:05 EDTCBTCabot tumbles, levels to watch
Shares are down over 5% to $38.57 at time of writing. Initial support is at $38.20. Support below that level is at $37.64. Resistance is at $39.72.
13:39 EDTCBTCabot 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.

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