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January 29, 2014
12:04 EDTALB, DOW, DDChemical makers Dow, Albemarle rise after reporting results
Shares of two chemical makers, Dow Chemical (DOW) and Albemarle (ALB), are advancing after both companies reported stronger than expected results. DOW RESULTS: Dow Chemical reported its fourth quarter profits and revenue that both exceeded analysts' consensus estimates. The company stated that its volume had risen 2% last quarter versus the same period a year earlier, with volumes increasing in most of its operating segments and geographic areas. Overall demand was healthy last quarter and, as a result, Dow Chemical saw its margins on hydrocarbons increase, the company stated. The chemicals maker reported that the sales of all of its units except Feedstocks and Energy rose last quarter. Dow Chemical expects its earnings before interest, taxes, depreciation and amortization, or EBITDA, to rise to $10 billion in the near-term, up from $8.4 billion on an adjusted basis in 2013. Dow also increased its quarterly dividend by 15% to 37c per share and expanded its authorized share buy-back program to $4.5B from $1.5B. ALBEMARLE RESULTS: Similarly, Albemarle last night reported fourth quarter profits and revenue that surpassed analysts' consensus estimates. Moreover, the company's fiscal 2014 revenue guidance also exceeded analysts' consensus outlook. Albermarle stated that it had benefited from strong growth in its refinery catalyst and clean fuels technologies businesses. The company expects the profits from its catalyst business to increase by double digit percentage levels in 2014, and it expects its earnings from its clean fuels technologies to also rise. PRICE ACTION: In late morning trading, Dow Chemical climbed 3.7% to $44.67, while Albemarle advanced 2.3% to $64.65. Another chemicals maker, Du Pont, (DD) rose 2.85% to $61.27. Du Pont reported stronger than expected results yesterday morning and announced its own $5B share repurchase program.
News For DOW;ALB;DD From The Last 14 Days
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October 5, 2015
16:00 EDTDOWOptions Update; October 5, 2015
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13:47 EDTDOWOptions with increasing volume
Options with increasing volume; DOW BBBY HOG INFY JBL SFUN YNDX AMAT CIT
13:13 EDTDOWDow closes transaction to separate significant portion of chlorine value chain
The Dow Chemical Company (DOW) announced the successful closing of the previously announced split-off transaction, resulting in the separation of a significant part of Dow's chlor-alkali and downstream derivatives businesses and merger of these businesses with Olin Corporation (OLN) to create a company with revenues approaching $7 billion. Included are Dow's U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics, and Global Epoxy business units, in addition to 100 percent interest in the Dow Mitsui Chlor-Alkali joint venture. The closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions. As a result of the exchange offer, Dow will reduce outstanding shares of its common stock by more than 34 million shares or nearly 3 percent of outstanding common shares. The transaction is highly accretive to Dow and Dow shareholders, with a tax-efficient consideration of greater than $4.6 billion on an after-tax basis and taxable equivalent value in excess of $7 billion. With this transaction, Dow exceeds its prior stated goal to divest $7 billion to $8.5 billion of non-strategic businesses and assets by mid-2016, with the total now approaching more than $12 billion in pre-tax proceeds. The transaction has a tax-efficient consideration value of $4.6 billion, or taxable equivalent value in excess of $7 billion including $2.1 billion of a combination of cash and debt retirement, nearly $1.0 billion of assumed debt and pension and other liabilities assumed by Olin, in addition to an estimated $1.5 billion in Olin common stock distributed to Dow stockholders in the exchange offer. The split-off structure of the transaction allows Dow to return $1.5 billion in value to shareholders and increase earnings per share by using Splitco common stock in the exchange offer instead of cash. With $2 billion in share repurchases to date in 2015 and the closing of this split-off transaction, Dow has effectively completed $6.5 billion of previously committed shareholder-focused actions. In November 2014, Dow announced a new $5 billion tranche to its existing $4.5 billion share repurchase program, bringing the total program to $9.5 billion. This transaction also includes a 20-year long-term capacity rights agreement for the supply of ethylene by Dow to Olin, in which Dow will receive up-front payments of up to $1.2 billion and, in return, Olin will receive ethylene at co-investor, integrated producer economics.
13:11 EDTDOWOlin completes merger with Dow's chlorine products businesses
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10:06 EDTDOWHigh option volume stocks
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09:44 EDTDOWActive equity options trading on open
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08:44 EDTDOWDow reports preliminary results of exchange offer for Chlorine Value Chain unit
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October 2, 2015
12:15 EDTALBAlbemarle updates on incident at SunEdison Pasadena facility
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11:49 EDTALBAlbemarle says Texas incident occurred at SunEdison facility
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October 1, 2015
10:32 EDTDD, DOWBernstein U.S. chemicals analysts hold an analyst/industry conference call
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08:01 EDTDOWDow AgroSciences, Synthace enter into research collaboration
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September 30, 2015
16:00 EDTDOWOptions Update; September 30, 2015
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09:59 EDTDOWActive equity options trading on open
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September 29, 2015
16:00 EDTDOWOptions Update; September 29, 2015
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September 28, 2015
12:39 EDTDOW, DDHuntsman plunges after warning of continued headwinds
Shares of chemical maker Huntsman (HUN) are plunging after warning that headwinds would impact its third quarter earnings. WHAT'S NEW: After the close on Friday, Huntsman warned that certain trends are expected to impact Q3 earnings. Trends expected to impact its earnings include lower titanium dioxide selling prices amid continued foreign currency headwinds, the company said. The company also noted continued soft demand in the Asia Pacific region. Huntsman said it also sees lower MTBE, or methyl tertiary butyl ether, margins as a result of lower oil prices and forecast continued lower MDI urethane component product margins in the Asia Pacific region. Peter Huntsman, the company's chief executive officer, said the company is "optimistic about the future" despite seeing headwinds in the short term. "Lower raw material prices impacted demand and margins in Q3, thus the accounting benefits will be delayed into the fourth quarter," added Huntsman. The company is anticipating fourth quarter adjusted EBITDA similar to Q3 at about $300M, similar to last year's level. The company is committed to a separation of the Pigments and Additives business by the end of 2016 or sooner. WHAT'S NOTABLE: On August 17, Goldman Sachs removed Huntsman from its Conviction Buy List and said investors remain skeptical on value proposition and free cash flow generation that could strengthen the balance sheet is likely several quarters away. The firm continued to rate shares a Buy with a $26 price target. PRICE ACTION: In midday trading, shares of Huntsman are down 23.08% to $10.70. OTHERS TO WATCH: Other chemical companies are trading lower, including Chemours (CC), which is down 7.8%, Kronos Worldwide (KRO), down 1.62%, Dow Chemical (DOW), falling 3.94% and DuPont (DD), down 2.06%%.
September 24, 2015
16:00 EDTDOWOptions Update; September 24, 2015
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11:17 EDTDOWStocks with call strike movement; BABA DOW
Alibaba (BABA) December 70 call option implied volatility increased 4% to 40, Dow Chemical (DOW) December 47 call option implied volatility increased 5% to 51 according to iVolatility.
September 23, 2015
16:00 EDTDOWOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
09:18 EDTDOW, DDPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
08:22 EDTDOWReport sheds new light on spending of Dow CEO, Reuters reports
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