Horsehead Holding provides update on commissioning of new plant Horsehead Holding provided a status update on the commissioning of its new plant in Mooresboro, North Carolina, commenting that commissioning is proceeding as expected although affected by delays due to the severe weather conditions during the past few weeks and relatively minor equipment debugging issues that have arisen during the commissioning process. No significant issues have arisen from the activities completed to-date. A further update is expected to be provided when the company releases results for 4Q13, currently scheduled to occur on February 25.
Horsehead Holding options active on sharp zinc rally Horsehead Holding October 5 and 7.5 calls are active on total call volume of 5K contracts (2Kputs) as zinc prices rally. October call option implied volatility is at 148, November is at 104; compared to its 52-week range of 33 to 154. Active call volume suggests traders taking positions for large price movement.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Underperform from Neutral at BofA/Merrill... AIG (AIG) downgraded to Market Perform with $63 target at FBR Capital... AmerisourceBergen (ABC) downgraded to Underweight from Equal Weight at Morgan Stanley... Astoria Financial (AF) downgraded to Hold from Buy at Sandler O'Neill... Capstone Turbine (CPST) downgraded to Hold from Buy at Craig-Hallum... Diplomat Pharmacy (DPLO) downgraded to Equal Weight from Overweight at Morgan Stanley... Fifth Third (FITB) downgraded to Neutral from Buy at Goldman... Gilead (GILD) downgraded to Equal Weight from Overweight at Morgan Stanley... Henkel (HENKY) downgraded to Neutral from Outperform at Exane BNP Paribas... Horsehead Holding (ZINC) downgraded to Perform from Outperform at Oppenheimer... LPL Financial (LPLA) downgraded to Sell from Neutral at UBS... MYR Group (MYRG) downgraded on electricity outlook at BB&T... Orion Marine (ORN) downgraded on reduced dredging awards at BB&T... QTS Realty Trust (QTS) downgraded to Hold from Buy at Stifel... Quanta Services (PWR) downgraded to Hold from Buy at BB&T... Regeneron (REGN) downgraded to Equal Weight from Overweight at Morgan Stanley... Ryanair (RYAAY) downgraded to Hold from Buy at HSBC... T. Rowe Price (TROW) downgraded to Neutral from Buy at UBS... Telekom Austria (TKAGY) downgraded to Hold from Buy at HSBC... Valeant (VRX) downgraded to Equal Weight from Overweight at Morgan Stanley.