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Stock Market & Financial Investment News

News Breaks
September 8, 2013
11:43 EDTCBTCabot and Risun Group complete new carbon black plant in Xingtai
Cabot Corporation and joint venture partner Risun Group announced the completion and commissioning of their new carbon black manufacturing facility in Xingtai, Hebei Province, China. Cabot and Risun invested approximately $140M in the new facility, with Cabot owning a 60% equity interest. Cabot and Risun broke ground on the new facility in April 2012. The site’s Phase I manufacturing capacity will be 130,000 metric tons of carbon black per year. As a result, Cabot’s overall carbon black manufacturing capacity in China increases by 25%. The addition of Xingtai solidifies Cabot’s position as the world’s leading producer of carbon black. The new plant also employs advanced emissions control and energy efficiency technology to minimize environmental impact and simultaneously reduce energy consumption.
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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