Calgon Carbon announces $50M accelerated share repurchase program Calgon Carbon Corporation announced that it has entered into an accelerated share repurchase, or ASR, agreement with Morgan Stanley to repurchase an aggregate $50M of the company's stock. The ASR is part of the company's share repurchase program that was announced yesterday and supersedes any previously announced share repurchase program. The ASR will be funded through the company's U.S. revolving credit facility. As of September 30, the company had approximately $118M available under its existing U.S. line of credit.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Barnes & Noble (BKS) initiated with a Buy at Craig-Hallum... Calgon Carbon (CCC) initiated with a Buy at Roth Capital... CenterPoint Energy (CNP) initiated with a Neutral at Goldman... Compass Diversified (CODI) initiated with an Outperform at William Blair... DTE Energy (DTE) initiated with a Neutral at Goldman... Goldman Sachs BDC (GSBD) initiated with an Outperform at Wells Fargo... Green Bancorp (GNBC) initiated with a Buy at SunTrust... Hilltop Holdings (HTH) initiated with a Buy at SunTrust... ITC Holdings (ITC) initiated with a Sell at Goldman... Independent Bank (IBTX) initiated with a Neutral at SunTrust... LegacyTexas Financial (LTXB) initiated with a Buy at SunTrust... MarkWest Energy (MWE) initiated with a Buy at Ladenburg... Medgenics (MDGN) initiated with an Outperform at JMP Securities... National Commerce (NCOM) initiated with an Outperform at Keefe Bruyette... OGE Energy (OGE) initiated with a Neutral at Goldman... Owens Corning (OC) initiated with a Hold at Evercore ISI... Southside Bancshares (SBSI) initiated with a Neutral at SunTrust... Zogenix (ZGNX) initiated with a Buy at Empire.
Calgon Carbon announces three year contract for carbon adsorption system Calgon Carbon announced it has been awarded a three-year contract by a petroleum refining company in the Midwest to supply 30 carbon adsorption systems and reactivation services to control vapor emissions. The value of the contract will depend upon the amount of spent activated carbon that is reactivated annually, which is expected to be in excess of 2M pounds per year, the company said.