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Stock Market & Financial Investment News

News Breaks
June 10, 2014
16:13 EDTIP, VRTVInternational Paper announces details for spin-off of xpedx
International Paper (IP) announced the timing and additional details regarding the spinoff of its distribution solutions business, xpedx. As previously announced, immediately following the spinoff of the xpedx business to International Paper shareholders, UWW Holdings, the parent company of Unisource Worldwide, will merge with and into the xpedx business to form a new, publicly-traded company, Veritiv Corporation (VRTV), to be listed on the New York Stock Exchange. Immediately after the spinoff and the merger, Veritiv will own and operate the combined distribution solutions businesses of xpedx and Unisource. The International Paper board of directors has declared a pro rata distribution to International Paper shareholders of 8,160,000 shares of Veritiv common stock, representing all the shares of common stock of Veritiv outstanding prior to the merger. Each holder of shares of International Paper common stock outstanding as of 5:00 pm New York City time on June 20, the record date set by International Paper's board of directors, will be entitled to receive a number of shares of Veritiv common stock on the distribution date, July 1. Based on the number of International Paper shares currently outstanding, the distribution ratio is expected to be approximately 0.0188 shares of Veritiv common stock for each share of International Paper common stock. Veritiv common stock is expected to begin trading on a "when-issued" basis on the NYSE under the symbol "VRTV WI" beginning on June 18. On July 2, "regular way" trading under the symbol "VRTV" is expected to begin.
News For IP;VRTV From The Last 14 Days
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July 25, 2014
08:08 EDTIPMLP potential could serve as floor for stocks, says Deutsche Bank
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July 24, 2014
13:20 EDTIPInternational Paper volatility elevated on Perry Capital taking position
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13:16 EDTIPContainerboard names rally with Perry seeing 50%-100% upside
Richard Perry's Perry Capital took positions or increased holdings during Q2 in containerboard names International Paper (IP), RockTenn (RKT), KapStone (KS) and Packaging Corp. (PKG), Bloomberg reports. Perry believes managements can create master limited partnerships for their paper mills, driving share upside potential of 50%-100%, Bloomberg cites Perry as stating in the fundís Q2 letter. Shares of containerboard names are rallying today, with International Paper up 5%, RockTenn and KapStone up 9%, and Packaging Corp. up 4% in afternoon trading. Perry Capital has $10.9B under management, according to Bloomberg.
10:37 EDTIPOptions with increasing implied volatility: TLM IP HSH
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July 23, 2014
05:53 EDTIPStocks with implied volatility movement; IP AMAT
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July 22, 2014
10:00 EDTIPOn The Fly: Analyst Downgrade Summary
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08:49 EDTIPInternational Paper downgraded to Buy from Conviction Buy at Goldman
Goldman removed International Paper from the Conviction Buy List and maintains it Buy rating to reflect increased risk to a potential decline in containerboard prices. The firm notes the first reduction in semi-chemical medium prices since Q4 2008 occurred in July, indicating the market may be weaker than expected.
July 21, 2014
09:00 EDTIPInternational Paper downgraded to Neutral from Outperform at Macquarie
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07:55 EDTIPJuly containerboard medium prices decline $10, says Deutsche Bank
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July 14, 2014
10:00 EDTVRTVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Ardelyx (ARDX) initiated with a Buy at Citigroup... Century Communities (CCS) initiated with an Overweight at JPMorgan... Charles Schwab (SCHW) initiated with a Buy at Jefferies... Diamondback Energy (FANG) initiated with a Neutral at Sterne Agee... E-Trade (ETFC) initiated with a Hold at Jefferies... Foresight Energy (FELP) initiated with an Overweight at Morgan Stanley... Global Logistics Properties (GBTZF) initiated with an Overweight at Barclays... Intercept (ICPT) initiated with a Buy at Deutsche Bank... Jumei (JMEI) initiated with a Buy at BofA/Merrill... MTS Systems (MTSC) initiated with a Buy at Needham... Markit (MRKT) initiated with an Equal Weight at Morgan Stanley... Opus Bank (OPB) initiated with a Buy at CRT Capital... Parnell (PARN) initiated with an Overweight at Piper Jaffray... TD Ameritrade (AMTD) initiated with a Hold at Jefferies... Teradata (TDC) initiated with a Buy at Standpoint Research... Veritiv (VRTV) initiated with an Overweight at Barclays... Viper Energy (VNOM) initiated with a Market Perform at Raymond James... Yelp (YELP) initiated with an Underweight at Evercore... ZS Pharma (ZSPH) initiated with an Outperform at BMO Capital... Zafgen (ZFGN) initiated with an Outperform at Cowen.
10:00 EDTIPOn The Fly: Analyst Downgrade Summary
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07:56 EDTIPInternational Paper downgraded to Neutral from Buy at Buckingham
Buckingham downgraded International Paper to Neutral to reflect the recent softness in white paper and sluggish container-board demand. Price target is $52.
05:33 EDTVRTVVeritiv initiated with an Overweight at Barclays
Target $45.

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