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Stock Market & Financial Investment News

News Breaks
February 1, 2013
04:58 EDTPPG, AXLLPPG announces final proration factor of 14.99% for shares in exchange offer
PPG Industries (PPG) announced the final proration factor of 14.99% for its exchange offer of PPG common stock in connection with the separation of PPG's commodity chemicals business and merger of Eagle Spinco, the entity holding PPG's former commodity chemicals business, with a subsidiary of Georgia Gulf Corporation. On Jan. 28, 2013, a subsidiary of Georgia Gulf Corporation merged with and into Eagle Spinco, with Eagle Spinco surviving the merger. The combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is now named Axiall Corporation (AXLL). A total of 68.93M shares of PPG common stock were validly tendered in the exchange offer. All remaining validly tendered shares of PPG common stock were accepted in the exchange on a pro rata basis using the final proration factor. Shares of PPG common stock that were validly tendered but not accepted for exchange will be returned to tendering shareholders.
News For PPG;AXLL From The Last 14 Days
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April 17, 2014
14:14 EDTPPGPPG Industries continues to evaluate potential acquisitions
PPG Industries held its annual meeting of shareholders in Pittsburgh, where Chairman and CEO Charles E. Bunch spoke about the company’s recent strategic progress and record financial performance. Looking ahead, Bunch said, “Our focus this year remains on growing the company. To help drive growth in each of our businesses and regions, we are continuing to evaluate potential acquisitions; expanding our organic capital spending; emphasizing our new product development pipeline; investing more in PPG’s brands; and continuing to expand our sustainability initiatives across the world.”
09:15 EDTPPGPPG Industries board authorizes $2B share repurchase program
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08:53 EDTPPGPPG Industries increases dividend to 67c from 61c
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08:11 EDTPPGPPG Industries reports Q1 adjusted EPS $1.98, consensus $1.87
Reports Q1 revenue $3.6B, consensus $3.63B.
April 14, 2014
18:58 EDTAXLLOn The Fly: After Hours Movers
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17:01 EDTAXLLAxiall sees Q1 adjusted EBITDA $65M-$70M
Axiall Corporation announced that the damage from the December 20 fire at its PHH vinyl chloride monomer manufacturing facility at the company’s chemicals complex in Lake Charles, Louisiana, has been repaired and the facility has resumed operations. The facility is expected to reach full operating rates in May. On February 19, the company described its expectation that the first quarter would be impacted by three significant headwinds: the PHH incident, severe winter weather and a sequential increase to normal maintenance spending. “During this period of lower production and sales, we increased maintenance spending by an additional approximately $10M compared to what we described February 19 to prepare our plants to run at high operating rates for the remainder of the year,” the company said. Based on these factors, the company expects to report $65M-$70M of adjusted EBITDA for Q1.
April 7, 2014
11:05 EDTPPG High option volume stocks: EXC QCOR SQQQ GNK PPG
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