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Stock Market & Financial Investment News

News Breaks
February 22, 2013
06:28 EDTRKTRockTenn says 15 box plants closed to date, 870 jobs cut
RockTenn said in investor day presentation slides that it closed 15 box plants to date and reduced full-time employees by 870. The company added that annualized run-rate savings of $27M at end of December 2012 has increased to $35M. RockTenn said annual synergies and performance benefits through Q1 were $42M, and that it expects expect $135M by the end of FY14. The company added that it will continue to seek "strategic, favorably priced acquisitions." RockTenn highlighted its improving earnings and cash flow. It sees FY14 free cash flow of $10.50-$11.50 per share assuming flat selling prices and 2% to 2.5% inflation on cost inputs from the end of FY13.
News For RKT From The Last 14 Days
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April 1, 2015
06:54 EDTRKTRockTenn guidance cut a buying opportunity, says Citigroup
Citigroup recommends using the post-guidance cut pullback in shares of RockTenn as a buying opportunity. Citi says at least 10c of the guidance reduction was driven by issues that appear to be transitory. It points out that weather and operational disruptions are common in the Paper industry. Citi keeps a Buy rating on RockTenn with a $77 price target.
March 31, 2015
18:10 EDTRKTRockTenn down 5% after lowering Q2 EPS outlook
17:51 EDTRKTRockTenn discusses revised Q2 outlook
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17:49 EDTRKTRockTenn lowers Q2 adjusted EPS view to 70c-75c from 80c-90c, consensus 88c
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March 20, 2015
08:35 EDTRKTMeadWestvaco, RockTenn announce executive management team for combined company
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08:34 EDTRKTMeadWestvaco, RockTenn announce executive team for combined company
MeadWestvaco (MWV) and Rock-Tenn (RKT) announced the executive leadership team for the combined company following the completion of the transaction. As previously announced, Steve Voorhees will serve as the new company’s CEO and John Luke will be non-executive chairman of the board. The executive leadership team announced today includes: Nina Butler, chief sustainability officer; Ward Dickson, chief financial officer; Pete Durette, chief strategy officer; Jennifer Graham-Johnson, chief human resources officer; Linda Schreiner, chief integration officer. The transaction remains on track to close in Q2 and is subject to shareholder approvals of both MWV and RockTenn, certain regulatory approvals and other customary closing conditions.

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