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Stock Market & Financial Investment News

News Breaks
May 23, 2014
08:39 EDTCBTCabot reports preliminary results of China carbon antidumpting duty order
Cabot reported that the U.S. Department of Commerce has announced the preliminary results of its sixth annual administrative review of the antidumping duty order on imports of steam activated carbon from the People’s Republic of China. The preliminary margins are significantly higher than the previous rates for imports from Chinese producers of steam activated carbon entering the U.S. The preliminary margins calculated by the DOC range from $2.05/kg to $3.77/kg and apply to steam activated carbon that entered the U.S. between April 1, 2012 and March 31, 2013. Final antidumping margins in connection with this review are subject to change and vary depending on the manufacturer. The antidumping order went into effect on April 27, 2007, and was extended in early 2013 for an additional five years in connection with a sunset review proceeding. As a result, the order will remain in place until at least 2017, when a second sunset review proceeding will be undertaken.
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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