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Stock Market & Financial Investment News

News Breaks
September 21, 2012
10:10 EDTRKT, KS, IP, PKGContainerboard 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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March 31, 2015
18:10 EDTRKTRockTenn down 5% after lowering Q2 EPS outlook
17:51 EDTRKTRockTenn discusses revised Q2 outlook
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17:49 EDTRKTRockTenn lowers Q2 adjusted EPS view to 70c-75c from 80c-90c, consensus 88c
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09:28 EDTIPInternational Paper agrees to sell Carolina coated bristols brand
International Paper (IP) announced it has reached a definitive agreement with MeadWestvaco (MWV) to sell the Carolina coated bristols brand. The sale is expected to close April 30, 2015. Terms of the sale were not disclosed. International Paper's decision to sell the Carolina brand was a result of its plans to convert the Riegelwood N.C., Mill to 100 percent fluff and softwood pulp production, thereby eliminating the manufacturing capability to produce the brand.
09:26 EDTIPMeadWestvaco to acquire Carolina business from International Paper
MeadWestvaco (MWV) announced that it has entered into a definitive agreement to acquire the Carolina coated bristols business from International Paper Company (IP). Terms of the transaction were not disclosed and the transaction is expected to close by the end of April. "We expect significant operational improvements when we integrate this business into our existing mill system,” said MeadWestvaco.
09:26 EDTIPInternational Paper to invest $135M to expand fluff pulp production
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March 25, 2015
07:07 EDTIP, PKGInternational Paper, Packaging Corp. can create value, says Wells Fargo
After evaluating the current leverage and capital allocation options of International Paper (IP) and Packaging Corp (PKG), Wells Fargo thinks the companies can create meaningful value by pursuing acquisitions and, to a lesser extent, share repurchases. The firm keeps Outperform ratings on both names.
March 20, 2015
08:35 EDTRKTMeadWestvaco, RockTenn announce executive management team for combined company
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08:34 EDTRKTMeadWestvaco, RockTenn announce executive team for combined company
MeadWestvaco (MWV) and Rock-Tenn (RKT) announced the executive leadership team for the combined company following the completion of the transaction. As previously announced, Steve Voorhees will serve as the new company’s CEO and John Luke will be non-executive chairman of the board. The executive leadership team announced today includes: Nina Butler, chief sustainability officer; Ward Dickson, chief financial officer; Pete Durette, chief strategy officer; Jennifer Graham-Johnson, chief human resources officer; Linda Schreiner, chief integration officer. The transaction remains on track to close in Q2 and is subject to shareholder approvals of both MWV and RockTenn, certain regulatory approvals and other customary closing conditions.

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