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Stock Market & Financial Investment News

News Breaks
February 26, 2013
06:05 EDTRKT, IP, PKG, KSRockTenn announced $50/ton price hike, says Deutsche Bank
Deutsche Bank said its contacts reported that RockTenn (RKT) announced a $50/ton price hike for containerboard with an April 1 implementation date. Deutsche expects other companies to issue price increases as well, but said it remains uncertain as to the success of the hike. The firm has a Buy rating on RockTenn. Other names in the containerboard space include International Paper (IP), Packaging Corp. (PKG) and KapStone (KS).
News For RKT;IP;PKG;KS From The Last 14 Days
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April 16, 2014
16:21 EDTPKGPackaging Corp. to pay $17.6M to settle class action suit
Packaging Corporation of America announced that it has reached an agreement to settle a civil, class action lawsuit filed against the company and eight other North American manufacturers of containerboard. The lawsuit, filed in 2010, is pending in the U.S. District Court for the Northern District of Illinois. Under the terms of the agreement, which must be approved by the court, the company will pay $17.6M into a settlement fund in return for a dismissal and release of all claims of the purported class. Packaging Corp. will record a reserve for the expected settlement of the agreement in its Q1 results, which will result in an after-tax charge of $11.3M, or 11c per share.
April 15, 2014
12:40 EDTKSKapStone reports minor fire at Longview facility
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10:00 EDTRKT, IPOn The Fly: Analyst Downgrade Summary
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06:37 EDTRKTRockTenn downgraded to Neutral from Buy at Longbow
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06:37 EDTIPInternational Paper downgraded to Neutral from Buy at Longbow
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April 9, 2014
10:06 EDTIP, RKTOn The Fly: Analyst Initiation Summary
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07:15 EDTIPInternational Paper initiated with an Outperform at Credit Suisse
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07:15 EDTRKTRockTenn initiated with an Outperform at Credit Suisse
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April 8, 2014
14:34 EDTIPInternational Paper acquires remaining shares of Orsa IP Embalagens
International Paper has acquired the remaining 25% of shares of Orsa International Paper Embalagens S.A. from its joint venture partner, Brazilian pulp and packaging producer Jari Celulose, Embalagens e Papel S.A. The shares were purchased at the original transaction price per share for ~$135MM. With this transaction, International Paper takes full ownership of three containerboard mills and four box plants, which made up Jari's former corrugated packaging assets. "This investment is in-line with our strategy to selectively grow our industrial packaging business globally in attractive markets and put capital to work that deliver returns above our cost of capital," said CEO John Faraci.

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