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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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October 22, 2014
06:03 EDTGRAW.R. Grace sees FY14 adjusted EBITDA $760M-$765M
As of October 22, Grace expects 2014 Adjusted EBIT to be in the range of $625-$630M, an increase of 13%-14% compared with 2013 Adjusted EBIT of $550.8M. The company expects Adjusted EBITDA to be in the range of $760M-$765M. The company expects 2014 Adjusted Free Cash Flow to be $430M or more.
06:02 EDTGRAW.R. Grace reports Q3 adjusted EPS $1.07, consensus 95c
Reports Q3 revenue $856.4M, consensus $836.7M.
October 15, 2014
10:02 EDTGRAOn The Fly: Analyst Upgrade Summary
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08:47 EDTGRAW.R. Grace upgraded at Monness Crespi
As previously reported, Monness Crespi upgraded W.R. Grace to Buy from Neutral. The firm upgraded shares based on valuation and views the correction as an overreaction. Price target is $94.
07:34 EDTGRAW.R. Grace upgraded to Buy from Neutral at Monness Crespi
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October 13, 2014
07:45 EDTGRAU.S. chemical company declines an overreaction to macro outlook, says UBS
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