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Stock Market & Financial Investment News

News Breaks
February 4, 2014
07:35 EDTSEE, GRASealed Air completes settlement of W. R. Grace bankruptcy case
Sealed Air (SEE) announced it has completed the material remaining conditions of the previously disclosed settlement agreement with the committees appointed to represent asbestos claimants in the bankruptcy case of W. R. Grace (GRA). This agreement was approved by order of the U.S. Bankruptcy Court for the District of Delaware on June 27, 2005. Pursuant to the terms of the Settlement agreement, Cryovac, a wholly owned subsidiary of Sealed Air, fulfilled its obligation with payments to asbestos claims trusts in the aggregate amount of $930M cash and 18M shares of Sealed Air common stock. The company said, "We will no longer incur interest on the settlement, which amounted to $48M in 2013. Additionally, we anticipate meaningful cash tax benefits over the next several years that will provide cash that we can use to continue to add value to our business.
News For SEE;GRA From The Last 14 Days
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August 3, 2015
07:32 EDTSEESealed Air acquires B+ Equipment, terms not disclosed
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July 31, 2015
12:46 EDTGRAW.R. Grace downgraded to Neutral from Buy at Tigress Financial
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July 30, 2015
07:23 EDTSEESealed Air raises FY15 adjusted EPS view to $2.24-$2.28 from $2.11-$2.18
Consensus $2.18. Sees FY15 net sales of approximately $7.1B, consensus $7.15B. Raises FY15 adjusted EBITDA view to $1.16B-$1.17B from $1.14B-$1.16B.
07:21 EDTSEESealed Air reports Q2 adjusted EPS 60c, consensus 53c
Reports Q2 revenue $1.8B, consensus $1.76B.
July 29, 2015
06:22 EDTGRAW.R. Grace on track to complete separation into two companies in 1Q16
06:10 EDTGRAW.R. Grace narrows FY15 adjusted EPS to $5.15-$5.25 from $5.05-$5.45
FY15 EPS consensus of $4.67. Narrows FY15 adjusted EBIT to $675M-$685M from $675M-$705M. Narrows FY15 adjusted EBITDA to $815M-$825M from $815M-$845M. The company estimates the currency headwind to Adjusted EBIT to be approximately $60M and to Adjusted EPS to be approximately 55c per share. Backs FY15 adjusted free cash flow of at least $430M, including a favorable impact to 2015 cash flow of approximately $95M, equivalent to $1.30 per share, due to Grace's low cash tax rate.
06:07 EDTGRAW.R. Grace reports Q2 Catalysts Technologies sales $289.3M
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06:06 EDTGRAW.R. Grace reports Q2 adjusted EPS $1.19, consensus $1.17
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