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Stock Market & Financial Investment News

News Breaks
June 30, 2014
08:35 EDTRYAM, RYNRayonier Advanced Materials separation from Ryanair completed
Rayonier Advanced Materials (RYAM) marked its launch as an independent publicly traded specialty chemicals company. The company's separation from Rayonier (RYN) occurred at 11:59 p.m., Eastern Time, on June 27, by means of a tax-free distribution of 100% of the outstanding common stock of Rayonier Advanced Materials to Rayonier shareholders of record as of the close of business on June 18.
News For RYN;RYAM From The Last 14 Days
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September 4, 2015
16:13 EDTRYAMOn The Fly: Top stock stories for Friday
Stocks declined on Wall Street after the monthly nonfarm payrolls report simultaneously rose concerns about a slowdown in the world's biggest economy while not being bad enough to take the worries about the Federal Reserve raising rates this month off the table. With the U.S. market set to be closed on Monday, buyers seemed reluctant to step in and buy. China's markets will be open and investors may be fearful that headlines there could set the U.S. market up for another down day when investors return following the Labor Day holiday. ECONOMIC EVENTS: In the U.S., the government reported 173,000 nonfarm jobs were added in the U.S. in August, missing analysts' consensus projection that payrolls grew 217,000. The unemployment rate dipped more than expected to 5.1%, however. That fact as well as other underlying data in the report, such as the better than expected 0.3% growth in wages and the rise in full-time employment, appeared to leave investors fearing that the Fed will raise interest rates at the next Federal Open Market Committee meeting, which is scheduled for September 16-17. COMPANY NEWS: Shares of BlackBerry (BBRY) advanced in early trading after the mobile phone and software maker agreed to acquire rival Good Technology for $425M in cash, but the stock moved into the red in afternoon trading and closed down 13c, or 1.74%, at $7.33. The deal will expand BlackBerry's ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system, the company stated, adding that it expects the deal to be accretive to earnings and cash flow within the first year after closing. MAJOR MOVERS: Among the notable gainers was Rayonier Advanced Materials (RYAM), which rose 8.57% to $6.97 after the stock was upgraded to Outperform at RBC Capital. Also rising following an analyst upgrade was SkyWest (SKYW), which gained 86c, or 5.34%, to $16.95 after Cowen upgraded the stock to Outperform and increased its price target for shares to $19 from $16. Among the noteworthy losers was Vince Holding (VNCE), which plummeted $4.06, or 43.74%, to $5.22 after the fashion brand owner cut its fiscal year adjusted earnings outlook and BofA Merrill Lynch downgraded the stock in response. Also lower following their own earnings reports were supply chain services company UTi Worldwide (UTIW), which fell 13% to $5.68, and IT software and services provider Infoblox (BLOX), which dropped 8% to $18.28. INDEXES: The Dow fell 272.38, or 1.66%, to 16,102.38, the Nasdaq lost 49.58, or 1.05%, to 4,683.92, and the S&P 500 dropped 29.91, or 1.53%, to 1,921.22.
10:00 EDTRYAMOn The Fly: Analyst Upgrade Summary
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06:37 EDTRYAMRayonier Advanced Materials upgraded to Outperform at RBC Capital
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August 26, 2015
15:12 EDTRYAMRayonier Advanced CEO buys 15K shares
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August 21, 2015
11:58 EDTRYAMRayonier Advanced Materials comments on implications of strategic repositioning
In investor presentation slides, Rayonier Advanced Materials commented on the implications of its strategic repositioning. Sees expected annual cost savings of approx. $14M. Sees commodity production capacity increases by 11% to approx. 245,000 MT annually. Says CS capacity will be reduced by 190,000 MT or 28%. Says the reconfiguration requires a capital investment of approx. $25M and includes a one-time, non-cash write off of $28M. For 2015, sees CS volumes comparable with 2014/2013 levels, CS prices 7%-8% below 2014 average prices. Sees commodity sales volumes higher than 2014, EBITDA $210M-$225M. Sees cost savings of $20M-$40M, CapEx of $80M. Priorities for capital allocation include: Reducing debt/increasing financial flexibility, investing in business, funding modest dividend. Rayonier Advanced Materials is up 3.96% to $6.82 in late morning trading.

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