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Stock Market & Financial Investment News

News Breaks
September 21, 2012
10:10 EDTKS, IP, PKG, RKTContainerboard makers surge as analyst sees price increase sticking
Containerboard makers are rallying after Deutsche Bank analyst Mark Wilde earlier today upgraded the stocks covered in the sector to Buy from Hold. Wilde expects the publication Pulp and Paper Week to report that September prices have increased about $40 per ton. After speaking with several privately owned companies in the sector, the analyst sees a much greater chance that a recent containerboard price increase will be maintained. Wilde, who also noted that the sector's inventories dropped to their lowest August level in decades last month, now sees a 75%-80% that the price increase will be maintained, up from his previous 50% estimate. The analyst's upbeat outlook for the sector marks a reversal from a forecast he made earlier this month, when he downgraded all four of the sector's stocks and warned that the containerboard price hike investors were expecting to occur in the Fall may not materialize. The analyst admitted today that he's "eating a bit of crow." In today's note, Wilde upgraded the following containerboard makers to Buy from Hold: International Paper (IP), Rock-Tenn (RKT), Packaging Corp. of America (PKG) and KapStone Paper (KS). In early morning trading, KapStone surged 8.32% to $20.95, International Paper gained 3.20% to $35.81, Rock-Tenn advanced 2.39% to $68.97 and Packaging Corp. of America rose 2.85% to $33.98.
News For IP;RKT;PKG;KS From The Last 14 Days
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February 10, 2016
12:18 EDTKSOn The Fly: Top stock stories at midday
Stocks have undergone another see-saw ride. The averages opened in positive territory, added to their gains in early trading, then saw much of their gains disappear, with the Dow now slipping below the flat line. Market watchers are intently listening as Fed Chair Janet Yellen speaks before the House Finance committee. She has maintained her mantra that the central bank will be data dependent in making its policy decisions and given little clue as to the potential pace of further rate hikes, though she did say that she does not believe the Fed will need to cut rates again. ECONOMIC EVENTS: In the U.S., Federal Reserve Chair Janet Yellen testified before the House Financial Services Committee. Tomorrow, she will present to the Senate Banking Committee. In her prepared remarks ahead of her testimony, Yellen said U.S. financial conditions have recently become "less supportive of growth," citing declines in the stock market, higher borrowing rates for riskier borrowers, and a further appreciation of the dollar. Yellen also noted that foreign economic developments pose risks to U.S. economic growth, noting that these growth concerns, along with strong supply conditions and high inventories, contributed to the recent fall in the prices of oil and other commodities. In Asia, Japanese stock indexes sank further, with the Topix falling another 3% and the Nikkei dropping over 2%. COMPANY NEWS: Continuing a recent trend in the media space, Time Warner (TWX) reported lower than expected quarterly revenues and its stock was punished. The shares were down 2% near noon, after being down much further early in the session, despite the fact that its fourth quarter earnings topped expectations, as did its profit forecast for the new fiscal year, and the company hiked its dividend 15% and approved a $5B share buyback program. Disney (DIS) last night reported better than expected earnings and revenue, powered by its blockbuster "Star Wars" film, but its shares also fell about 5% this morning as investors continue to worry about the future of traditional media companies in the face of industry shifting trends such as cord-cutting and over-the-top video... SolarCity (SCTY) plunged 20% after reporting lower than projected installations in Q4 and giving lower than expected Q1 installation guidance. A number of analysts cut their price targets on the stock but maintained their buy or equivalent ratings, though Roth Capital analyst Philip Shen downgraded SolarCity to Neutral and cut his price target for the shares to $19 from $65. SolarCity's slide weighed on its peers in the solar space as well, as First Solar (FSLR) fell 2.5% and Sunrun (RUN) dropped 12.5%. MAJOR MOVERS: Among the noteworthy gainers was Fitbit (FIT), which advanced 5% after Vanguard reported a 9.2% stake in the company and Salesforce (CRM) founder, chairman, and CEO Marc Benioff reported a 5% stake. Also higher were Akamai (AKAM), Panera (PNRA), and Sealed Air (SEE), which gained 21%, 5%, and 8%, respectively, after reporting quarterly results. Among the notable losers was Kapstone (KS), which fell 25% and was downgraded to Hold from Buy at Deutsche Bank following its Q4 earnings report. Also lower were Assurant (AIZ) and Medidata (MDSO), which were down 15% and 13%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 9.17, or 0.06%, to 16,005.21, the Nasdaq was up 50.11, or 1.17%, to 4,318.87, and the S&P 500 was up 10.35, or 0.56%, to 1,862.56.
10:01 EDTKSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antero Resources (AR) downgraded to Neutral from Buy at Goldman... Apollo Investment (AINV) downgraded to Sell from Neutral at Citi... BBA Aviation (BBAVY) downgraded to Neutral from Buy at Goldman... CM Finance (CMFN) downgraded to Outperform from Strong Buy at Raymond James... CTI BioPharma (CTIC) downgraded to Sell from Hold at WallachBeth... Calix (CALX) downgraded to Market Perform from Outperform at Cowen... ConocoPhillips (COP) downgraded to Peer Perform from Outperform at Wolfe Research... Fifth Street Finance (FSC) downgraded to Neutral from Overweight at JPMorgan... Fortis (FRTSF) downgraded to Neutral from Outperform at Credit Suisse... ITC Holdings (ITC) downgraded to Market Perform from Outperform at Wells Fargo... KapStone (KS) downgraded to Hold from Buy at Deutsche Bank... Knight Transportation (KNX) downgraded to Hold from Buy at Evercore ISI... Lake Shore Gold (LSG) downgraded to Sector Performer from Outperformer at CIBC... Medley Capital (MCC) downgraded to Hold from Buy at Jefferies... Pandora (P) downgraded to Market Perform from Outperform at Cowen... Parker-Hannifin (PH) downgraded to Hold from Buy at Evercore ISI... Parkway Properties (PKY) downgraded on real estate headwinds, valuation at Stifel... Plains GP Holdings (PAGP) downgraded to Neutral from Outperform at Credit Suisse... Ruckus Wireless (RKUS) downgraded to Neutral from Buy at SunTrust... SolarCity (SCTY) downgraded to Neutral from Buy at Roth Capital... Tahoe Resources (TAHO) downgraded to Sector Perform from Outperform at RBC Capital... USANA (USNA) downgraded to Neutral from Buy at DA Davidson... Valero (VLO) downgraded to Buy from Conviction Buy at Goldman... Western Union (WU) downgraded to Neutral from Outperform at Macquarie... XL Group (XL) downgraded to Sell from Hold at Deutsche Bank.
06:36 EDTKSKapStone downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Debbie Jones downgraded KapStone Paper & Packaging to Hold saying the company's weaker than expected Q4 results are "unsettling." The analyst sees a weaker earnings trajectory and cut his price target for the shares to $14 from $22.
February 9, 2016
16:34 EDTKSKapStone reports Q4 adjusted EPS 17c, consensus 36c
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February 4, 2016
11:11 EDTIPInternational Paper management to meet with Jefferies
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February 3, 2016
07:01 EDTIPInternational Paper reports Q4 operating EPS 87c, consensus 82c
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February 2, 2016
14:32 EDTIPNotable companies reporting before tomorrow's open
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08:14 EDTIPInternational Paper volatility elevated into Q4 and outlook
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