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Stock Market & Financial Investment News

News Breaks
January 31, 2013
13:32 EDTOLNOlin rallies after Wells ups rating on Dow production cut
Olin Corporation (OLN) is climbing after Dow Chemicals (DOW) stated that it would shut down some of its chloralkali production capacity, according to Wells Fargo. A chemical process used to develop chlorine, sodium hydroxide and hydrogen, chloralkali is a major part of Olin's business. In a note to investors earlier today, Wells Fargo analyst Frank Mitsch wrote that Dow Chemicals stated that it would close some of its chloralkali production capacity later this year. Dow does plan to launch a new chloralkali production facility in 2013, but the company's announcement means that it will not be producing a larger total amount of chloralkali at that time, according to the analyst. Dow's announcement is positive for Olin, wrote Mitche, and he raised his rating on the stock to Outperform from Market Perform. The analyst, who believes that Olin will begin buying back some of its own shares in 2013, has a $26-$28 valuation range on the stock. In mid-afternoon trading, Olin rallied 99c, or 4.39%, to $23.52.
News For OLN From The Last 14 Days
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July 24, 2014
17:01 EDTOLNOlin Corp. sees 2014 adjusted EBITDA $350M-$400M
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17:00 EDTOLNOlin Corp. sees Q3 EPS 30c-35c, consensus 57c
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16:58 EDTOLNOlin Corp. reports Q2 cont-op EPS 46c, consensus 45c
Reports Q2 revenue 570.4M$, consensus $636.21M.
July 18, 2014
10:03 EDTOLNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Homes 4 Rent (AMH) upgraded to Strong Buy from Outperform at Raymond James... Andersons (ANDE) upgraded to Buy from Hold at BB&T... Brunswick (BC) upgraded at B. Riley... Burberry (BURBY) upgraded to Outperform from Neutral at Exane BNP Paribas... Colfax (CFX) upgraded at Stifel... ITV Plc (ITVPF) upgraded to Neutral from Sell at Citigroup... Olin Corp. (OLN) upgraded to Neutral from Underperform at Macquarie... Plexus (PLXS) upgraded to Buy from Neutral at Longbow... Resources Connection (RECN) upgraded to Outperform from Neutral at RW Baird... Sandy Spring Bancorp (SASR) upgraded at RW Baird... Seagate (STX) upgraded to Buy from Hold at Craig-Hallum... easyJet (ESYJY) upgraded to Outperform from Sector Perform at RBC Capital.
09:19 EDTOLNOlin Corp. upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded Olin to Neutral due to valuation. Price target is $27.

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