New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 31, 2013
11:18 EDTOLNOlin Corp. upgraded to Outperform from Market Perform at Wells Fargo
News For OLN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 30, 2015
07:43 EDTOLNOlin Corp. deal positive, says SunTrust
Subscribe for More Information
06:13 EDTOLNDow Chemical transaction positive for Axiall, says Citigroup
Citigroup views Dow Chemical's (DOW) chlor-alkali/ethylene transaction with Olin (OLN) as very good for shareholders and also a positive for Axiall (AXLL). Citi says consolidation in the U.S. chlor-alkali industry is positive for Axiall and points out that Olin commented on the conference call that it will look to optimize its expanded chlor-alkali asset base.
March 27, 2015
16:23 EDTOLNOn The Fly: Closing Wrap
Stocks opened slightly higher but were unable to gather any upside momentum. They quickly crossed into negative territory but never really picked up speed to the downside. After the slightly better than expected consumer confidence reading, the averages moved back into positive ground where they spent most of the session hovering near the flat line. Near the close, comments by Fed Chair Janet Yellen that an interest rate hike "may be warranted later this year," lifted the averages into positive territory. ECONOMIC EVENTS: In the U.S., real GDP growth was steady at 2.2% in Q4, falling below consensus forecasts for 2.4% growth. GDP price index grew 0.1% on a linked quarter basis, matching expectations. U.S. consumer sentiment fell to 93.0 against consensus of 92.1. The current conditions index dipped to 105.0 from February's 106.9, while the consumer expectations index dropped to 85.3 from 88.0. COMPANY NEWS: Dow Chemical (DOW) and Olin (OLN) were up 3% and 14%, respectively, after announcing that Dow will separate much of its chlorine value chain and merge the entity with Olin in a $5B deal. Additionally, the companies announced a 20-year arrangement in which Dow will supply Olin with ethylene. Late in the session, the Wall Street Journal reported that Intel (INTC) was in talks to acquire Altera (ALTR), sending both stocks higher by 6% and 28%, respectively. MAJOR MOVERS: Among the notable gainers was Carnival (CCL), which rose over 6% after beating earnings expectations and raising FY15 revenue yield guidance. Also higher was BioMarin (BMRN), jumping 11% after speculation of a Shire (SHPG) takeover deal. Among the noteworthy losers was Southern Cooper (SCCO), which fell nearly 4% after the company cancelled its Tia Maria mining project. Also lower was OvaScience (OVAS), down 10% after Oppenheimer reported pushback from academics during the company's presentation of early Augment data. Opco cautioned, however, that criticism of non-trial data is "inevitable" and JMP Securities called the results encouraging. INDEXES: The Dow rose 34.43, or 0.19%, to 17,712.66, the Nasdaq gained 27.86, or 0.57%, to 4,891.22, and the S&P 500 added 4.87, or 0.24%, to 2,061.02.
12:36 EDTOLNOn The Fly: Midday Wrap
Subscribe for More Information
09:26 EDTOLNOn The Fly: Pre-market Movers
Subscribe for More Information
07:12 EDTOLNDow Chemical, Olin Corp. see deal closing by year-end 2015
Following the completion of the transaction, Olin (OLN) will be an industry leader in chlor-alkali and derivatives benefiting from the combination of complementary businesses, significant scale, integration, cost-advantaged feedstocks, and a broad and diverse end-uses portfolio. Expected cost synergies of the transaction include network optimization which will facilitate output expansion, significant logistics savings and benefits, and the potential for expansion of existing products produced by Olin and Dow (DOW) into additional geographies and to additional customers. Annual revenues of the combined business are anticipated to be approximately $7B and EBITDA is expected to be $1B on a 2014 pro forma basis, excluding synergies. The transaction is subject to a vote by Olin shareholders and is expected to close by year-end 2015.
07:10 EDTOLNDow CEO says to exceed target to divest $7B-$8.5B of non-strategic assets
Subscribe for More Information
07:05 EDTOLNDow Chemical says transaction 'highly accretive' to shareholders
Subscribe for More Information
07:04 EDTOLNOlin Corp. says will continue to be led by Joseph Rupp
Subscribe for More Information
07:03 EDTOLNDow, Olin Corp. also enter into 20-year long-term capcity rights areement
Subscribe for More Information
07:03 EDTOLNDow to merge chlor-alkali, downstream derivatives units with Olin
The Dow Chemical Company (DOW) and Olin Corporation (OLN) announced that the boards of directors of both companies unanimously approved a definitive agreement under which Dow will separate a significant portion of its chlorine value chain and merge that new entity with Olin in a transaction that will create an industry leader with revenues approaching $7B. The transaction has a tax efficient consideration of $5B, and a taxable equivalent value of $8B to Dow and Dow shareholders. It is highly complementary to the strategic objectives of both companies, with significant potential to enhance value for both Dow and Olin shareholders, and create substantial benefits for customers. The terms of the agreement call for Dow to separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving approximately 50.5% of the shares of Olin, with existing Olin shareholders owning approximately 49.5%. The transaction is valued at $5B, and includes $2B of cash and cash equivalents to be paid to Dow; an estimated $2.2Bin Olin common stock using the Olin stock value as of close on March 25, 2015; and approximately $800M of assumption of pension and other liabilities. In addition, by virtue of the joint share ownership, both sets of shareholders will benefit from a minimum of $200M in projected annual synergies and cost savings. The transaction is subject to a vote by Olin shareholders and is expected to close by year-end 2015.
07:02 EDTOLNDow Chemical, Olin Corp. deal valued at $5B
Subscribe for More Information
07:01 EDTOLNDow to merge chlor-alkali, downstream derivatives units with Olin
Subscribe for More Information
March 23, 2015
10:00 EDTOLNOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:31 EDTOLNOlin Corp. downgraded to Sell from Neutral at UBS
Subscribe for More Information
March 20, 2015
09:34 EDTOLNOlin Corp. downgraded to Neutral from Buy at Sidoti
Subscribe for More Information
March 17, 2015
07:20 EDTOLNBofA/Merrill to hold a conference
Smid Cap Conference 2015 is being held in Boston on March 17-18.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use