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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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July 1, 2015
07:18 EDTIP, PKGInternational Paper Packaging Corp. drop a buying opportunity, says Wells Fargo
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June 24, 2015
17:34 EDTRKTRockTenn, MeadWestvaco shareholders approve combination
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06:03 EDTRKTRockTenn announces perliminary shareholder merger election results
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June 23, 2015
17:04 EDTRKTRockTenn to host special shareholder meeting
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17:01 EDTRKTMeadWestvaco to host special shareholder meeting
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June 22, 2015
10:00 EDTKSOn The Fly: Analyst Downgrade Summary
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08:57 EDTKSKapStone downgraded to Neutral from Outperform at Macquarie
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07:30 EDTRKT, IP, PKG, KSPaper & Packaging group to open lower on price cut, says Jefferies
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June 19, 2015
18:12 EDTRKTS&P announces changes to S&P 100, 400, 500, and 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 100, S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: S&P 500 constituent The Priceline Group (PCLN) will replace Baxter International (BAX) in the S&P 100, Baxalta (BXLT) will replace QEP Resources (QEP) in the S&P 500, QEP Resources will replace Itron (ITRI) in the S&P MidCap 400, and Itron will replace Arch Coal (ACI) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. Baxter International is spinning off Baxalta in a transaction expected to be completed on that date. Baxter International will remain in the S&P 500 following the distribution, but its post spin market capitalization will no longer make it appropriate for the S&P 100. QEP Resources, Itron and Arch Coal are all ranked near or at the bottom of their current indices. Skechers USA (SKX) will replace Rock-Tenn Co. (RKT) in the S&P MidCap 400, and MiMedx Group (MDXG) will replace Skechers USA in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent MeadWestvaco Corp. (MWV) is combining with Rock-Tenn in a transaction expected to be completed on or about that date. The combined company will remain in the S&P 500 and will change its name to WestRock Co. HealthEquity (HQY) will replace Zep Inc. (ZEP) in the S&P SmallCap 600 after the close of trading on Thursday, June 25. Private equity firm New Mountain Capital is acquiring Zep in a transaction expected to be completed on or about that date pending final approvals.
17:22 EDTRKTSkechers to replace RockTenn in S&P 400 as of 6/30 close
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