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Stock Market & Financial Investment News

News Breaks
February 26, 2013
07:49 EDTIPInternational Paper management to meet with Deutsche Bank
Meeting to be held in London on February 26 hosted by Deutsche Bank,
News For IP From The Last 14 Days
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February 4, 2016
11:11 EDTIPInternational Paper management to meet with Jefferies
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February 3, 2016
07:01 EDTIPInternational Paper reports Q4 operating EPS 87c, consensus 82c
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February 2, 2016
14:32 EDTIPNotable companies reporting before tomorrow's open
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08:14 EDTIPInternational Paper volatility elevated into Q4 and outlook
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January 25, 2016
10:30 EDTIPContainerboard makers sink after prices cut
The shares of containerboard makers are falling after an industry publication reported that prices in the sector had declined. Citi and Deutsche Bank responded differently to the news. Citi recommended that investors avoid the sector and downgraded two stocks in the space, International Paper (IP) and Packaging Corp. (PKG). However, Deutsche Bank kept Buy ratings on three stocks in the sector - KapStone (KS), Packaging Corp. and WestRock (WRK), predicting that containerboard makers would look to balance supply with demand. BACKGROUND: On Friday night, Pulp & Paper Week lowered its benchmark kraftliner and semichemical medium prices by $15 per ton and $20 per ton, respectively. ANALYST REACTION: Friday's news was unexpected and will probably cause cause box prices to drop, wrote Deutsche Bank analyst Debbie Jones. As a result, analysts' estimates for companies in the sector will decline, Jones stated. However, the companies will respond by taking steps to balance supply with demand, the analyst believes. Moreover, some producers will try to keep prices stable, she stated. Estimating that the price cut would cause a 3%-4% reduction in the companies' earnings before interest taxes, depreciation and amortization, Jones kept Buy ratings on Kapstone Papaer, Packaging Corp. and Westrock. Conversely, Citi anayst Anthony Pettinari downgraded International Paper and Packaging Corp. to Neutral from Buy. The decline in kraftline prices was surprising, given stronger than expected December box shipments and supply discipline by the major companies in the sector, the analyst stated. Although the recent price cuts could be a one-time event, there is a possibility that additional price decreases will follow, making the stocks unattractive, the analyst believes. PRICE ACTION: In early trading, International Paper dropped 5.4% to $34.50, Packaging Corp tumbled 8.2% to $52.90, Kapstone sank 15% to $14.82 and WestRock fell 11.5% to $33.42.
10:00 EDTIPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:03 EDTIPOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
07:50 EDTIPDeutsche sees Containerboard stocks trading 'aggressively' down
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07:18 EDTIPInternational Paper downgraded to Neutral from Buy at Citi
Citi analyst Anthony Pettinari downgraded International Paper (IP) to Neutral after Paper Week reduced January kraftliner prices by 2.4% and corrugated medium prices by 3.7%. The price cuts were the first since 2008-2009, Pettinari tells investors in a research note. The analyst lowered his estimates for International Paper, Packaging Corp. (PKG) and WestRock (WRK) and downgraded both IP and Packaging Corp. to Neutral. He expects the stocks to trade lower today, potentially in the 4%-6% range. Pettinari cut his price target for International Paper shares to $38 from $45. The analyst said he'd not be surprised to see Graphic Packaging (GPK) trade down on the price cuts, even though the company does not produce containerboard. He recommends buying the stock on any pullback.
January 24, 2016
20:21 EDTIPOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) could announce a significant executive upheaval Monday, with several product heads said to depart and a new Chief Marketing Officer reportedly stepping in. 2. Johnson Controls (JCI) and Tyco (TYC) are in advanced merger talks, according to the Wall Street Journal. 3. Airbus (EADSY) and Boeing (BA) saw mentions on the heels of Iran's aviation summit as the country eyes big orders to modernize its aging fleet after a lifting of sanctions. 4. SunEdison (SUNE) is set to give David Einhorn's Greenlight Capital a seat on its board, the Wall Street Journal reported. 5. International Paper (IP), Newell (NWL) and Houghton Mifflin (HMHC) were discussed positively by Barron's this weekend, while Chipotle (CMG) was warned against.
12:25 EDTIPInternational Paper should rally as much as 50%, Barron's says
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