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Stock Market & Financial Investment News

News Breaks
July 1, 2014
16:43 EDTIP, VRTVInternational Paper completes xpedx spinoff and merger with Unisource
International Paper (IP) announced the completion of the previously announced spinoff of its distribution solutions business, xpedx, and xpedx's merger with Unisource, with the combined companies now operating as Veritiv Corporation (VRTV).The spinoff was accomplished by the contribution of the xpedx business to Veritiv and the distribution of 8,160,000 shares of Veritiv common stock on a pro-rata basis to International Paper shareholders. In exchange for such contribution, International Paper today received a special payment of $400M, subject to certain adjustments, financed with new debt in Veritiv's capital structure. Immediately following the distribution, UWW Holdings, the parent company of Unisource Worldwide, merged with and into Veritiv, with the parent company of UWW Holdings, Inc. receiving 7,840,000 unregistered shares of Veritiv common stock, equal to approximately 49% of the total resulting outstanding shares of Veritiv common stock, as merger consideration. Veritiv is expected to begin "regular way" trading on the New York Stock Exchange tomorrow under the symbol VRTV. "The completion of this transaction and creation of Veritiv provide excellent value for International Paper shareholders, as this new independent public company emerges with opportunities to be stronger and more competitive than either of the merged companies alone," said International Paper Chairman and CEO John Faraci.
News For IP;VRTV From The Last 14 Days
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July 30, 2014
10:00 EDTIPOn The Fly: Analyst Downgrade Summary
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09:10 EDTIP, IPInternational Paper downgraded to Underperform from Outperform at CLSA
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07:25 EDTIP, IPInternational Paper downgraded to Underperform from Outperform at CLSA
July 29, 2014
07:07 EDTIPInternational Paper reports Q2 Industrial Packaging operating profit $534M
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07:06 EDTIPInternational Paper reports Q2 operating EPS 95c, consensus 83c
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July 28, 2014
15:47 EDTIPNotable companies reporting before tomorrow's open
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12:05 EDTIPOptions with increasing implied volatility
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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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