Eastman Chemical Co.NYSE
Mon, Oct. 31, 5:47 PM
- A federal judge tentatively approves a $151M settlement involving two companies sued over a 2014 chemical spill that contaminated drinking water in southern West Virginia.
- West Virginia American Water (NYSE:AWK) will pay $126M and Eastman Chemical (NYSE:EMN) will pay $25M under the settlement, according to an attorney representing class-action residents and businesses.
- The money will be distributed to affected residents and businesses through an application process to be determined later.
Thu, Oct. 27, 6:05 PM
Wed, Oct. 26, 5:35 PM
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Wed, Sep. 21, 11:20 AM
- The SEC just charged Leon Cooperman with insider trading over Atlas Pipeline Partners, and Omega holdings such as Alitsource Portofolio, Navient, Aercap, and Tribune Media have knee-jerked sharply lower.
- A check of other top Omega holdings: First Data (FDC -1.3%), Allergan (AGN -0.9%), AIG (AIG +0.4%), Walgreens (WBA -0.6%), Dow Chemical (DOW), United Continental (UAL -0.7%), Ashland (ASH +0.3%), Chimera Investment (CIM -0.4%), Motorola (MSI +0.1%), HRG Group (HRG -1%), Microsoft (MSFT +1%), E*Trade (ETFC), New Residential (NRZ -1%), OneMain Holdings (OMF -2.3%), PVH (PVH +0.4%), UnitedHealth (UNH +0.7%), MGM Resorts (MGM -0.5%), New Media (NEWM -1.9%), Dish Network (DISH +0.5%), Synchrony Financial (SYF +1%), Eastman Chemical (EMN +0.3%).
- Previously: Cooperman holdings head south after insider trading charge (Sept. 21)
- Previously: Leon Cooperman charged with insider trading (Sept. 21)
Tue, Sep. 13, 8:30 AM
Wed, Aug. 24, 3:23 PM
- The Texas Railroad Commission, which has the power to set pipeline rates, rules that Westlake Chemical (WLK -2.3%) cannot charge a market-driven rate for use of its Texas pipeline, ending a three-year dispute that has been closely watched by pipeline, chemical and oil industry leaders, FuelFix.com reports.
- Eastman Chemical (EMN +0.6%) filed a complaint with the commission after WLK nearly doubled its rate in 2013 to $3.50 per 100 lbs. from $1.90, and the commission today set a rate of $2.45 per 100 lbs.
- The dispute centers on the cost of shipping ethylene 200 miles through WLK’s pipeline from Longview, Tex., to Mont Belvieu, near the Houston Ship Channel.
Fri, Jul. 29, 9:22 AM
Thu, Jul. 28, 5:34 PM
Wed, Jul. 27, 5:35 PM
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Fri, May 13, 5:52 PM
- David Tepper and Appaloosa have filed their 13F, and while it shows new positions in Valeant (NYSE:VRX), Bank of America (NYSE:BAC), Facebook (NASDAQ:FB) and Fox (FOX, FOXA), a source told CNBC that he's already sold that Valeant stake.
- Shares in Valeant moved accordingly after the release: First up as much as 2.9% after hours, then back again to a 0.6% gain.
- Meanwhile, the firm notes dissolved stakes in Apple (AAPL, sold 1.26M shares), HP Enterprise (HPE, sold 3.66M shares) and Eastman Chemical (EMN, sold 700K shares).
- In energy bets, Tepper heavily increased stakes in Williams Partners (WPZ, +10.87M shares) and Energy Transfer Partners (ETP, +11M shares), while cutting a stake in Kinder Morgan (NYSE:KMI) by 4.95M shares.
Mon, May 2, 10:37 AM
- Eastman Chemical (EMN +1.7%) is higher even as CLSA downgrades shares to Underperform from Buy following mixed Q1 results.
- The firm recommends taking profits in EMN given disappointing company guidance, an anemic global economy, potential ethylene oversupply, and a difficult market for selling ethylene assets.
- However, Jefferies maintains its Buy rating and raises its price target to $88 from $85, believing 2016 difficulties should not carry into 2017 thanks to an improved product mix from the Tritan, acoutistic interlayer and performance film platforms.
- EMN said it still targets FY 2016 adjusted earnings “that approach” last year’s $7.28/share in adjusted profit; the consensus analyst outlook is for $7/share for 2016.
- Now read Eastman Chemical has further upside
Thu, Apr. 28, 5:55 PM
- Eastman Chemical (NYSE:EMN): Q1 EPS of $1.71 beats by $0.18.
- Revenue of $2.24B (-8.2% Y/Y) misses by $70M.
- Shares -2.83% AH.
Wed, Apr. 27, 5:35 PM
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Wed, Mar. 23, 12:47 PM
- The chemicals industry is on the verge of an "M&A bonanza," driven by strong balance sheets, cheap financing and activist pressures, Deutsche Bank says following a week-long series of meetings with leading U.S. and European chemical companies.
- Deutsche Bank sees the U.S. Gulf coast region as the top global investment region looking ahead, and says North American ethane based ethylene production still maintains a 50%-60% cash cost advantage over European production even though the collapse in oil price has flattened the cost curve.
- Among U.S. majors, the firm maintains Buy ratings on Celanese (CE -1.3%), Dow Chemical (DOW +0.6%), DuPont (DD +0.8%), Eastman Chemical (EMN +0.1%) and PPG Industries (PPG -0.3%); Evonik (OTC:EVKIF), BASF (OTCQX:BASFY) and Linde (OTCPK:LNAGF) are viewed as top potential European buyers of U.S. assets.
Fri, Jan. 29, 3:24 PM
- Eastman Chemical (EMN -4%) sinks to 52-week lows before rebounding a bit, following mixed Q4 results but a gloomy outlook from CEO Mark Costa.
- EMN felt pressure during 2015 from lower selling prices, soft commodities markets and the strong dollar, and Costa says the company faces stagnant global economic growth, collapsing oil prices and weakening currencies in Asia and Europe in 2016.
- "Given current business conditions, we are driving hard to deliver 2016 earnings per share that approach 2015 earnings per share," Costa says; for FY 2015, EMN posted adjusted EPS of $7.28, while the analyst consensus for 2016 is $7.57.
Thu, Jan. 28, 5:21 PM
- Eastman Chemical (NYSE:EMN): Q4 EPS of $1.59 beats by $0.04.
- Revenue of $2.23B (-5.1% Y/Y) misses by $180M.