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Stock Market & Financial Investment News

News Breaks
September 21, 2012
10:10 EDTIP, RKT, PKG, KSContainerboard 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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October 24, 2014
14:07 EDTRKTRockTenn increases annual dividend 7% to 75c
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October 20, 2014
17:05 EDTPKGPackaging Corp. expects Q4 EPS $1.16, consensus $1.16
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17:03 EDTPKGPackaging Corp. reports ex-items Q3 EPS $1.26, consensus $1.26
Reports Q3 revenue $1.52B, consensus $1.50B. Special items excluded from EPS include after-tax charges for the Boise integration, debt refinancing and DeRidder mill restructuring of 20c per share, including cash charges of 6c per share, and non-cash charges of 14c per share.
15:30 EDTPKGNotable companies reporting after market close
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13:07 EDTRKTRockTenn initiated with a Buy at Dundee (pre-open)
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13:06 EDTKSKapStone initiated with a Buy at Dundee (pre-open)
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13:06 EDTIPInternational Paper initiated with a Buy at Dundee (pre-open)
Target $55.
13:06 EDTPKGPackaging Corp. initiated with a Buy at Dundee (pre-open)
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October 16, 2014
10:01 EDTPKGOn The Fly: Analyst Upgrade Summary
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08:48 EDTPKGPackaging Corp. upgraded at Buckingham
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07:31 EDTPKGPackaging Corp. upgraded to Buy from Neutral at Buckingham
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