New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:45 EDTBZ, IP, RKT, PKGIP, RockTenn upgraded to Overweight at JPMorgan
JPMorgan upgraded International Paper (IP) and RockTenn (RKT) to Overweight from Neutral after privately held Georgia-Pacific last week announced a $50/ton containerboard price increase, effective March 1 for board and April 1 for boxes. The firm expects other companies to follow suit, and sees more share upside in the Containerboard space. JPMorgan raised its price target for International Paper shares to $51 from $46 and for RockTenn shares to $108 from $88. The firm also raised its price target for Neutral-rated Packaging Corp. (PKG) to $48 from $41 and for Neutral-rated Boise (BZ) to $10 from $9.50.
News For IP;RKT;PKG;BZ From The Last 14 Days
Check below for free stories on IP;RKT;PKG;BZ the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 16, 2014
16:21 EDTPKGPackaging Corp. to pay $17.6M to settle class action suit
Packaging Corporation of America announced that it has reached an agreement to settle a civil, class action lawsuit filed against the company and eight other North American manufacturers of containerboard. The lawsuit, filed in 2010, is pending in the U.S. District Court for the Northern District of Illinois. Under the terms of the agreement, which must be approved by the court, the company will pay $17.6M into a settlement fund in return for a dismissal and release of all claims of the purported class. Packaging Corp. will record a reserve for the expected settlement of the agreement in its Q1 results, which will result in an after-tax charge of $11.3M, or 11c per share.
April 15, 2014
10:00 EDTRKT, IPOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:37 EDTRKTRockTenn downgraded to Neutral from Buy at Longbow
Subscribe for More Information
06:37 EDTIPInternational Paper downgraded to Neutral from Buy at Longbow
Subscribe for More Information
April 9, 2014
10:06 EDTIP, RKTOn The Fly: Analyst Initiation Summary
Subscribe for More Information
07:15 EDTIPInternational Paper initiated with an Outperform at Credit Suisse
Subscribe for More Information
07:15 EDTRKTRockTenn initiated with an Outperform at Credit Suisse
Subscribe for More Information
April 8, 2014
14:34 EDTIPInternational Paper acquires remaining shares of Orsa IP Embalagens
International Paper has acquired the remaining 25% of shares of Orsa International Paper Embalagens S.A. from its joint venture partner, Brazilian pulp and packaging producer Jari Celulose, Embalagens e Papel S.A. The shares were purchased at the original transaction price per share for ~$135MM. With this transaction, International Paper takes full ownership of three containerboard mills and four box plants, which made up Jari's former corrugated packaging assets. "This investment is in-line with our strategy to selectively grow our industrial packaging business globally in attractive markets and put capital to work that deliver returns above our cost of capital," said CEO John Faraci.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use