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Stock Market & Financial Investment News

News Breaks
March 31, 2014
09:02 EDTCECelanese explores plans for methanol production unit at Texas facility
Celanese announced its intent to explore plans to construct a methanol production unit at the company’s Bishop, Texas, facility. Celanese is preparing to apply for the necessary environmental construction permits for a methanol unit with an expected annual capacity of 1.3M tons at the company’s Bishop facility. Construction of this unit in Bishop would be subject to receipt of economic incentives from government authorities. The methanol unit would utilize abundant, low-cost natural gas in the U.S. Gulf Coast region as a feedstock and would benefit from the existing infrastructure at the site. The Bishop methanol unit would be similar in scope and scale to the methanol unit under construction at the company’s Clear Lake, Texas, integrated chemical plant. Celanese would also consider a joint venture structure for the Bishop methanol unit in a similar fashion to the joint venture methanol unit currently being constructed at the Clear Lake plant.
News For CE From The Last 14 Days
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April 23, 2015
16:34 EDTCECelanese raises quarterly dividend to 30c per share from 25c per share
Celanese announced that its board has approved a 20% increase in the company's quarterly common stock cash dividend. The dividend rate increased from 25c-30c per share of common stock on a quarterly basis and from $1.00 to $1.20 per share of common stock on an annual basis. The new dividend rate will be applicable immediately. The dividend is payable to stockholders of record as of May 4.
April 22, 2015
08:03 EDTCECelanese to reduce production capacity at Lanaken, Belguim, acetate tow plant
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April 20, 2015
18:02 EDTCECelanese announces vinyl acetate-based price increases in Asia
Celanese announced that it will increase the price of vinyl acetate-based emulsions sold in Asia. Vinyl acetate ethylene emulsions will increase by Yuan 400/MT for China and $55/MT for the rest of Asia effective April 24, or as contracts allow. This price increase affects all applications including, but not limited to, adhesives, paints and coatings, waterproofing, building and construction, glass fiber, carpet and paper. This increase is attributed to the continued pressures on raw materials, notably ethylene and vinyl acetate monomer.
07:15 EDTCECelanese valuation attractive despite 16% rally, says Deutsche Bank
Deutsche Bank says shares of Celanese remain attractively valued despite the 16% post-earnings rally on Friday. The firm raised its price target for the stock to $76 from $64 and keeps a Buy rating on the name.
April 17, 2015
16:24 EDTCEOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session deep in negative territory and remained there throughout the day. The losses were broad based, with the S&P 500 losing 1% and the Dow and Nasdaq each sliding about 1.5%. There was little in the way of buying, as the number of declining stocks dwarfed the number of advancing stocks. Fears about Greece exiting the euro, steps taken by securities regulators in China and inflation data here at home were all pointed to as potential contributors to the down day in the market. The slide also coincided with the expiration of options, which can lead to volatility and heavy volume. ECONOMIC EVENTS: In the U.S., the headline Consumer Price Index rose 0.2% in March, versus expectations for it to be up 0.3%. The "core" rate, excluding food and energy prices, rose 0.2%, as expected. The leading economic index rose 0.2% to 121.4 in March, versus expectations for it to be up 0.3%. The University of Michigan consumer sentiment index jumped 2.9 points to 95.9 in the preliminary print for April, topping expectations for a 94.0 reading. In China, announcements by Chinese securities regulators, the Shanghai and Shenzhen stock exchanges, and related bodies raised fears of a selloff in China. The China Securities Regulatory Commission imposed sanctions to try to control margin buying of stocks with borrowed money and the Securities Association of China said it will allow fund managers to lend stocks for short selling to increase the supply of shares. In Europe, strategists reportedly said a lack of progress in negotiations between Greece and its creditors had substantially increased the risk of Greece defaulting on its debt and even exiting the euro. COMPANY NEWS: Shares of both Comcast (CMCSA) and Time Warner Cable (TWC) dropped after Bloomberg, citing sources, reported that lawyers at the Justice Department’s antitrust division are leaning toward making a recommendation to file suit to block the companies' proposed merger. Spokespeople for Comcast and TWC reportedly told Bloomberg they see "no basis" for a lawsuit to block the transaction. Comcast ended the day down $1.25, or 2.09%, to $58.42, while Time Warner Cable shares slid $8.59, or 5.43%, to $149.61... First the Wall Street Journal, then Bloomberg, reported that Teva Pharmaceutical (TEVA) is internally discussing a potential takeover bid for Mylan (MYL). Shares of both moved higher following the reports, which Mylan responded to by stating that it is fully committed to its stand-alone strategy, including its proposal to acquire Perrigo (PRGO). Mylan Chairman Robert Coury said that rumors of potential interest from Teva have been "circulating for some time," but that such a combination is "without sound industrial logic or cultural fit" and would be unlikely to receive antitrust regulatory clearances. Coury added that Mylan's board would "carefully consider" a bid if any party makes an "actual offer" to acquire the company. Shares of General Electric (GE) reported a loss of $1.35 per share due to large charges related to its planned exit from the majority of its GE Capital business. Adjusting for special items, GE's operating earnings per share of 31c topped the consensus forecast by 1c. Additionally, GE said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. MAJOR MOVERS: Among the notable gainers following their earnings reports were Celanese (CE), which rose $9.04, or 15.55%, to $67.18, and Mattel (MAT), which advanced $1.48, or 5.84%, to $26.75. Among the noteworthy losers after their quarterly reports were SerivceNow (NOW), which fell $9.55, or 11.53%, to $73.29, and Advanced Micro Devices (AMD), which dropped 29c, or 10.28%, to $2.58. INDEXES: The Dow declined 279.47, or 1.54%, to 17,826.30, the Nasdaq fell 75.98, or 1.52%, to 4,931.81, and the S&P 500 dropped 23.81, or 1.13%, to 2,081.18.
12:21 EDTCEOn The Fly: Top stock stories at midday
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11:38 EDTCECelanese hits new 52-week high after raising FY15 profit outlook
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09:14 EDTCEOn The Fly: Pre-market Movers
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07:35 EDTCECelanese price target raised to $69 from $65 at UBS
UBS raised its price target on Celanese to $69 from $65 following Q1 results, citing the company's increased guidance and cost savings initiatives. UBS reiterated its Buy rating on Celanese shares.
April 16, 2015
19:00 EDTCEOn The Fly: After Hours Movers
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17:13 EDTCECelanese raises FY15 adjusted EPS view to $5.60-$5.90, consensus $5.19
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17:11 EDTCECelanese reports Q1 adjusted EPS $1.72, consensus $1.31
Reports Q1 revenue $1.45B, consensus $1.61B.
17:10 EDTCECelanese raises FY15 EPS outlook
15:23 EDTCENotable companies reporting after market close
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