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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:26 EDTECL, AVY, MTX, ZEP, RPM, FOE, OMN, POL, CHMT, KMG, SHLMGabelli to hold a conference
5th Annual Specialty Chemicals Conference is being held in New York on March 20.
News For ZEP;SHLM;OMN;MTX;KMG;FOE;AVY;CHMT;RPM;ECL;POL From The Last 14 Days
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February 10, 2016
08:57 EDTFOEFerro sees strong adjusted EPS growth in FY16, consensus $1.06
For 2016, on a constant currency basis, the company expects continued strong adjusted EPS growth, driven primarily by previously announced acquisitions coupled with organic growth.
08:56 EDTFOEFerro sees FY15 adjusted EPS at high end of 82c-85c range, consensus 83c
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February 9, 2016
08:07 EDTOMNOmnova Solutions sells India rubber manufacturing business to Apcotex Industries
OMNOVA Solutions announced the sale of its India rubber manufacturing business to India-based Apcotex Industries Limited. The transaction includes the Valia, India manufacturing plant and its associated product lines: acrylonitrile butadiene rubber in bale form, high styrene rubber masterbatches, and NBR-PVC polyblends. Importantly, OMNOVA Solutions will maintain its sales office in Mumbai to manage the continued growth of the company's specialty polymers in the Indian market through imports from other OMNOVA facilities in Asia, Europe and North America. The India rubber manufacturing business was sold to Apcotex under a share purchase agreement for cash proceeds of approximately $5M. For fiscal 2015, the business generated approximately $28.2M in sales and reported a net loss of $400K. The sale is not expected to have any material impact on OMNOVA's operating income for 2016.
February 8, 2016
08:39 EDTSHLMA. Schulman adds two production lines at Kerpen plan in Germany
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February 5, 2016
12:03 EDTMTXMinerals Technologies: 5% topline growth level in FY16 'reasonable'
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11:53 EDTMTXMinerals Technologies: FY16 to be 'strong' cash flow year
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11:53 EDTMTXMinerals Technologies sees Q1 EPS 95c-$1.00, consensus 99c
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February 4, 2016
17:08 EDTMTXMinerals Technologies reports Q4 adjusted EPS $1.00, consensus 95c
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11:25 EDTPOLPolyOne downgraded to Hold from Buy at Wellington Shields
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09:34 EDTPOLPolyOne downgraded to Neutral from Buy at Northcoast
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February 3, 2016
12:24 EDTAVYOn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
11:27 EDTOMNOmnova Solutions management to meet with CL King
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07:05 EDTPOLPolyOne 'on track' to achieve 2020 Platinum Vision
07:05 EDTPOLPolyOne reports Q4 adjusted EPS 39c, consensus 42c
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06:51 EDTAVYAvery Dennison realized $71M in pre-tax savings from restructuring in 2015
In 2015, the company realized approximately $71 million in pre-tax savings from restructuring, net of transition costs, and incurred pre-tax restructuring charges of $59 million, $53 million of which represented cash charges.
06:50 EDTAVYAvery Dennison reports Q4 Pressure-sensitive Materials sales up 7%
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06:49 EDTAVYAvery Dennison sees FY16 adjusted EPS $3.65-$3.85, consensus $3.70
06:49 EDTAVYAvery Dennison reports Q4 adjusted EPS 85c, consensus 78c
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06:47 EDTPOLPolyOne acquires certain TPE assets from Kraton Performance
PolyOne (POL) announced it has acquired certain technologies and assets from Kraton Performance Polymers (KRA). The two companies also entered into a supply agreement, whereby Kraton will provide PolyOne certain raw materials used in production for the acquired business. The end markets utilizing the acquired technologies span new and fast growing applications in adhesive and removable protective films, as well as existing applications served by PolyOne, such as packaging, medical devices and personal care products. The purchase price of $72M represents a multiple of 9x EBITDA.
February 1, 2016
17:33 EDTMTXMinerals Technologies CEO gets employment agreement extended one year
On February 1, Minerals Technologies and Joseph Muscari, the company's Chairman and CEO, entered into a Sixth Amendment to Muscari's Employment Agreement dated November 27, 2006. Pursuant to the Sixth Amendment, the term of Muscari's employment has been increased from nine years to ten years, with the term ending no earlier than March 1, 2017.
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