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Stock Market & Financial Investment News

News Breaks
June 20, 2014
16:35 EDTIP, VRTVInternational Paper announces distribution ratio for xpedx spinoff
International Paper (IP) announced the definitive distribution ratio for the spinoff of its distribution solutions business, xpedx. Subject to the satisfaction of certain conditions, International Paper stockholders will receive on the distribution date, July 1, 0.0188 shares of Veritiv Corporation (VRTV) common stock for each share of International Paper common stock they owned as of 5:00 pm EST on June 20, the record date set by International Paper's board of directors. International Paper shareholders will not receive fractional shares of Veritiv common stock. Instead, fractional shares of Veritiv common stock will be aggregated and sold in the open market, with the net proceeds distributed pro rata in cash payments to the International Paper shareholders who would otherwise receive a fractional share of Veritiv common stock. The closing of the spinoff of International Paper's distribution business, xpedx, and the subsequent merger with UWW Holdings, the parent company of Unisource Worldwide, are scheduled to occur on July 1.
News For IP;VRTV From The Last 14 Days
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October 5, 2015
16:12 EDTVRTVVeritiv files to sell 7.84M shares of common stock for holders
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16:12 EDTVRTVVeritiv files $200M mixed securities shelf
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September 25, 2015
07:55 EDTIPContainerboard stocks oversold at current levels, says Jefferies
Jefferies analyst Philip Ng believes containerboard stocks are already pricing in a $30-60/ton price decline. Industry contracts, however, expect downtime will balance the market and prices will hold, Ng tells investors in a research note. International Paper (IP), WestRock (WRK) and Packaging Corp. (PKG) are oversold at current levels and should be attractive for long term investors, Ng writes. He has a Buy rating on all three names.

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