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Stock Market & Financial Investment News

News Breaks
May 17, 2013
07:33 EDTGPK, RKT, CCK, IP, OIPaper & Packaging names likely to return cash to holders, says Jefferies
Jefferies expects names in the Paper & Packaging space to start returning cash to shareholders at a greater rate due to strong balance sheets and record free cash flow. The firm names International Paper (IP), RockTenn (RKT) and Owens-Illinois (OI) as best positioned to see higher share prices from more aggressive cash returns to shareholders. Jefferies says Crown Holdings (CCK), Graphic Packaging (GPK) and Owens-Illinois are likely to issue dividends.
News For IP;RKT;OI;CCK;GPK From The Last 14 Days
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October 9, 2015
06:08 EDTIPWeyerhaeuser upgraded to Neutral from Sell at UBS
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06:07 EDTIPPotlatch upgraded to Neutral from Sell at UBS
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05:11 EDTIPInternational Paper to exit Chinese coated board JV
International Paper announced that it has entered into a definitive agreement with its Chinese coated board joint venture partner, Shandong Sun Holding Group, to sell its 55% equity interest in the joint venture. As consideration for the sale, the company will receive approximately $23M in cash. Additionally, the company will remove approximately $400 million of currently outstanding debt from the company's balance sheet, along with the other assets and liabilities of the IP-Sun JV, following completion of the transaction. International Paper also announced that it is pursuing strategic options for its corrugated box business in China and South East Asia and has signed a non-binding letter of intent with a prospective buyer based in China. The IP-Sun JV transaction is expected to be completed within the next six months, subject to satisfaction of closing conditions, including obtaining required Chinese governmental approvals. International Paper estimates the agreement to sell the Chinese coated board joint venture, which started in 2006, will result in net pre-tax noncash asset write-offs of approximately $200M to be recorded in the third quarter of 2015.
October 7, 2015
07:11 EDTCCKCrown Holdings recent weakness a buying opportunity, says Barclays
Barclays analyst Scott Gaffner said Crown Holdings has underperformed the group year-to-date and current valuation represents an attractive entry point for this stable stock and positive industry fundamentals longer-term. Gaffner rates shares an Overweight with a $62 price target.
06:16 EDTCCK, IPContainers and Packaging sector upgraded to Overweight at Wells Fargo
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October 1, 2015
16:18 EDTGPKGraphic Packaging acquires assets of Carded Graphics, terms not disclosed
Graphic Packaging announced that its wholly owned subsidiary, Graphic Packaging International, has acquired the converting assets of Staunton, VA based Carded Graphics, an award winning printed folding carton producer with a strong regional position in the food, craft beer and other consumer product markets. The transaction will be funded with existing cash and borrowings from Graphic Packaging's revolving line of credit.
September 25, 2015
08:35 EDTCCKCrown Holdings to increase beverage can capacity in Turkey
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07:55 EDTIPContainerboard stocks oversold at current levels, says Jefferies
Jefferies analyst Philip Ng believes containerboard stocks are already pricing in a $30-60/ton price decline. Industry contracts, however, expect downtime will balance the market and prices will hold, Ng tells investors in a research note. International Paper (IP), WestRock (WRK) and Packaging Corp. (PKG) are oversold at current levels and should be attractive for long term investors, Ng writes. He has a Buy rating on all three names.

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