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Stock Market & Financial Investment News

News Breaks
March 6, 2013
07:50 EDTFOE, SHLMFerro downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Ferro (FOE) as it is unsure whether A. Schulman (SCHLM) will make a higher offer for Ferro, or if Ferro would accept such an offer. The firm also believes that Ferro's price would be at risk if the bid is rescinded, in light of the stock's current valuation. Target $6.50.
News For FOE;SHLM From The Last 14 Days
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April 15, 2014
17:58 EDTSHLMA. Schulman targeting FY18 adjusted EPS $4.50-$4.75
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April 10, 2014
07:40 EDTSHLMA. Schulman to host investor day
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April 8, 2014
08:32 EDTSHLMA. Schulman board authorizes $55M stock buyback program
The new Program replaces the Company's previous share repurchase program, which was authorized on April 1, 2011, and expired March 31. Under the previous program, shares valued at $55.5m remained authorized for repurchase.
April 7, 2014
16:52 EDTSHLMA. Schulman up over 6% to $38.61 following results, increased FY14 guidance
16:38 EDTSHLMA. Schulman raises FY14 adjusted EPS to $2.23-$2.28 from $2.08-$2.13
Consensus $2.16. Joseph M. Gingo, chairman, president and CEO, said, "Driven by the trend of our positive European results, the continuation of relatively stable raw material pricing and modest global economic growth, we have raised our expectations for 2014 adjusted net income to a range of $2.23-$2.28 per diluted share, which would represent an approximately 25% increase over the prior-year results using the high-end of this range."
16:36 EDTSHLMA. Schulman reports Q2 EPS ex-items 39c, consensus 33c
Reports Q2 revenue $588.51M, one estimate $575M. Bernard Rzepka, COO, stated, "I am very pleased that our European team has been able to capitalize on strengthening demand, especially in the automotive and electronics & electrical markets. In the Americas, I am encouraged that organic net sales in the region remained consistent with the prior year despite an 8.2% drop in organic volume and negative foreign currency headwinds in Latin America. Volume was, of course, impacted by the severe winter weather in the U.S., but also by the company's continuous strategy to reduce less-profitable commodity sales. In Asia Pacific, or APAC, the addition of our Perrite Group's Malaysian facility has led to significant growth and provides us with solid engineered plastics operations in Southeast Asia. Additionally, we are seeing organic growth across all product families in the region, as well as a stabilization of gross margins on a sequential basis. APAC is a key strategic market for us, and we are pleased with our progress in the region."
15:11 EDTSHLMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include A. Schulman (SHLM), consensus 33c; Team, Inc. (TISI), consensus 0c; Zep, Inc. (ZEP), consensus 8c.

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