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July 24, 2014
13:16 EDTPKG, IP, KS, RKTContainerboard names rally with Perry seeing 50%-100% upside
Richard Perry's Perry Capital took positions or increased holdings during Q2 in containerboard names International Paper (IP), RockTenn (RKT), KapStone (KS) and Packaging Corp. (PKG), Bloomberg reports. Perry believes managements can create master limited partnerships for their paper mills, driving share upside potential of 50%-100%, Bloomberg cites Perry as stating in the fundís Q2 letter. Shares of containerboard names are rallying today, with International Paper up 5%, RockTenn and KapStone up 9%, and Packaging Corp. up 4% in afternoon trading. Perry Capital has $10.9B under management, according to Bloomberg.
News For IP;RKT;KS;PKG From The Last 14 Days
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May 6, 2015
06:48 EDTRKT, PKG, KS, IPIRS proposal a short-term negative for containerboards, says Deutsche Bank
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May 5, 2015
18:10 EDTPKG, RKT, IP, KSOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were lower for the day. The market began the session in negative territory and remained there throughout the day, taking cues from similar losses in European indexes. ECONOMIC EVENTS: In the U.S., the trade balance deficit grew 43% to $51.4B., significantly higher than analyst expectations for a move to $41.2B. Markit's services PMI declined to 57.4 for April, missing forecasts of 57.8. The Institute for Supply Management's non-manufacturing April PMI was 57.8, beating the anticipated 56.2 reading. WTI crude oil settled up 1.86, or 3.16%, at $60.79 per barrel. In China, the Shanghai Composite Index fell 4.1% on reports of increased margin requirements. COMPANY NEWS: Shares of Salesforce (CRM) advanced 5.92% to $75.84 and were halted near 3:00 pm ET after reports that Microsoft (MSFT) was considering placing a bid for the company, though those rumors were downplayed as the afternoon continued... Disney (DIS) stock rose roughly 1% before finishing the session down fractionally after the company's second quarter results beat analyst expectations. During a CNBC interview, CEO Bob Iger remarked that the company's movie studio business currently has "no holes to fill" after "Avengers: Age Of Ultron" topped box office charts for its opening weekend. MAJOR MOVERS: Among the notable gainers was Cliffs Natural (CLF), which rose 12.29% after reports that Quebec province is prepared to buy a rail line, certain port facilities, and 20% of Bloom Lake mine from the company. Also higher were shares of Netflix (NFLX), advancing 1.92% for the day to finish at $565.55 after BofA/Merrill upgraded the company by a full two ratings to Buy. The firm raised its price target to $722 from $350, citing strong original content and "enormous" international opportunities. Among the noteworthy losers was Avon (AVP), falling 11.87% after the New York Post reported that Coty (COTY) and certain private equity firms may have lost interest in acquiring the company due to financing difficulties. Also lower were multiple companies in the containerboard market, with International Paper (IP), KapStone Paper (KS), Packaging Corp. (PKG), RockTenn (RKT) and MeadWestvaco (MWV) all declining 2%-5% after the IRS proposed rules which analysts believe could exclude papermakers from master limited partnerships. INDEXES: The Dow was down 142.20, or 0.79%, to 17,928.20, the Nasdaq was down 77.60, or 1.55%, to 4,939.33, and the S&P 500 was down 25.03, or 1.18%, 2,089.46.
12:34 EDTIP, PKG, RKT, KSContainerboard pullback a buying opportunity, says Jefferies
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12:16 EDTKS, PKG, RKT, IPOn The Fly: Top stock stories at midday
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12:00 EDTIPInternational Paper says IRS rules take MLP option off table, Bloomberg reports
International Paper noted that it had not determined whether to proceed with an MLP, but that new rules suggested by the IRS take that option "off the table," according to Bloomberg, which cites a statement from the company. Shares of International Paper and its peers in the paper packaging space have been weaker than the broader market in morning trading following the IRS proposal of new MLP rules.
11:30 EDTRKT, IP, PKG, KSContainerboard stocks slide after IRS proposes new rules for MLPs
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10:46 EDTPKG, IP, KS, RKTKapStone acquisition of Victory makes sense, says KeyBanc
KeyBanc says KapStone's (KS) acquisition of Victory Packaging makes sense since the integration benefits could be significant. The firm keeps a Sector Weight rating on KapStone, which is down 3% to $27.55 in morning trading. Other Containerboard names are also off around 3%, including International Paper (IP), Packaging Corp. (PKG) and RockTenn (RKT).
07:12 EDTRKTRockTenn added to Franchise Pick List at Jefferies
Jefferies added RockTenn (RKT) to its Franchise Pick List in place of Crown Holdings (CCK) and raised its price target for shares to $84 from $80. The firm notes RockTenn shares are now back to levels near when the MeadWestvaco (MWV) deal was announced. Jefferies sees a number of ways for RockTenn to unlock value and says investors are getting a "free call option" on the acquisition at current shares levels. It keeps a Buy rating on the name.
07:12 EDTKSKapStone to acquire assets of Victory Packaging for $615M
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May 4, 2015
17:17 EDTKSKapStone reports Q1 adjusted EPS 30c, consensus 41c
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April 29, 2015
18:20 EDTRKTRockTenn reports Q2 adjusted EPS 85c, consensus 74c
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15:00 EDTRKTNotable companies reporting after market close
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07:27 EDTRKTMeadWestvaco: Pending merger with RockTenn on track to close in Q2
Says Specialty Chemicals spinoff to shareholders on track to occur this year.
07:03 EDTIPInternational Paper reports Q1 Industrial Packaging operating profit $468M
Reports Q1 Printing Papers operating profit $109M. Reports Q1 Consumer Packaging operating profits $46M.
07:03 EDTIPInternational Paper reports Q1 operating EPS 84c, consensus 80c
Reports Q1 revenue $5.52B, consensus $5.8B.Business segment operating profits before special items in the first quarter of 2015 were $623M.
April 28, 2015
15:07 EDTIPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 80c... Time Warner (TWX), consensus $1.09... Mondelez (MDLZ), consensus 38c... NextEra Energy (NEE), consensus $1.27... General Dynamics (GD), consensus $1.95... Lumber Liquidators (LL), consensus 16c... Southern Co (SO), consensus 58c... Anthem (ANTM), consensus $2.66... Praxair (PX), consensus $1.44... Norfolk Southern (NSC), consensus $1.00... Eaton (ETN), consensus 98c... Thomson Reuters (TRI), consensus 45c... Franklin Resources (BEN), consensus 86c... Northrop Grumman (NOC), consensus $2.27... Hilton Worldwide (HLT), consensus 12c... Exelon (EXC), consensus 69c... Humana (HUM), consensus $2.56... International Paper (IP), consensus 80c... Hess (HES), consensus ($1.05)... Level 3 Communications (LVLT), consensus 33c... Starwood Hotels & Resorts (HOT), consensus 57c... Ametek (AME), consensus 63c... Garmin (GRMN), consensus 57c... Quintiles Transnational (Q), consensus 71c... New York Community Bancorp (NYCB), consensus 26c... Spirit Aerosystems (SPR), consensus 92c... Spirit Airlines (SAVE), consensus 96c... Brunswick (BC), consensus 61c... KBR (KBR), consensus 17c... Linn Energy (LINE), consensus (20c)... Cullen/Frost Bankers (CFR), consensus $1.09... WEX (WEX), consensus 99c... RPC (RES), consensus 11c... Hercules Offshore (HERO), consensus (38c).

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