Fri, May 6, 12:30 PM
- Specialty chemicals company Ferro (FOE +7.7%) has hired investment bank Lazard to explore a possible sale of the company, Reuters reports.
- An auction for FOE is in the second round of bidding, and has attracted interest from other companies and P-E firms, according to the report.
- FOE reportedly rebuffed a takeover approach from Apollo Global Management in March, and activist investor FrontFour Capital has called for the maker of glass-based coatings, pigments and polishing materials to pursue strategic alternatives.
- Now read Ferro: Large upside potential
Tue, Mar. 15, 10:31 AM
- Ferro (FOE +7.2%) spikes after a Bloomberg report that it recently received a takeover approach from Apollo Global Management (APO -1.3%).
- FOE rebuffed the initial approach, but it is not clear whether the maker of chemicals for the manufacturing industry plans to engage in negotiations or if APO plans to return with a fresh proposal, according to the report.
- Activist investor FrontFour Capital yesterday released a letter calling for FOE to pursue strategic alternatives, including a potential sale of the business.
Jul. 30, 2015, 9:12 AM
- Gainers: UNXL +33%. UNIS +22%. MEET +18%. GEVO +17%. SHOP +15%. OTEX +15%. WWE +15%. SGYP +13%. SKX +12%. MWW +9%. HBP +8%. HOLX +8%. WDC +8%. APD +6%.
- Losers: PRSN -35%. LNCO -21%. LINE -19%. FMI -18%. SSYS -18%. ITG -14%. FOE -13%. WFM -12%. QRVO -12%. OSK -11%. LOCK -11%. DDD -9%. MNKD -7%. NCR -6%. GNCA -6%. FMS -5%. MPC -5%. CROX -5%.
Apr. 29, 2015, 6:48 PM
- Ferro (NYSE:FOE) +7.9% AH after reporting Q1 earnings that beat expectations, issuing upside guidance, and agreeing to acquire a Spanish-based producer of specialty pigments.
- FOE cites improved profitability in its performance colors and its pigments, powders and oxides segments; says value-added sales increased 7% Y/Y on a constant currency basis, but foreign currency translation hurt sales by $31M.
- The company now sees FY 2015 EPS of $0.89-$0.96 vs. prior guidance of $0.85-$0.90 and $0.89 analyst consensus estimate.
- FOE expects its €146M purchase of inorganic pigments manufacturer Nubiola will be accretive to its adjusted EPS by $0.04-$0.06 in 2015 and by more than $0.15 in 2016.
Jul. 30, 2014, 4:50 PM
- Ferro (NYSE:FOE): Q2 EPS of $0.19 beats by $0.04.
- Revenue of $294M (-7.8% Y/Y) misses by $49.31M.
- Shares +6.9%.
Oct. 24, 2013, 3:27 PM
- Ferro (FOE +17%) shares power higher after the specialty chemicals producer reported better than expected Q3 earnings and revenues and issued upward guidance for the full year (earnings call).
- Deutsche Bank raises its price target to $12 from $8, citing FOE's cost saving initiatives and value creation strategy gaining traction faster than expected; while Q4 upside will be limited, FOE should recapture business when its eco-friendly plasticizers production facility starts up in H2 2014 (Briefing.com).
Oct. 24, 2013, 12:45 PM
Oct. 23, 2013, 4:39 PM
- Ferro (FOE): Q3 EPS of $0.14 beats by $0.04.
- Revenue of $408.1M. Shares -1.9% AH. (PR)
Jul. 2, 2013, 11:34 AM
Mar. 5, 2013, 11:43 AM
Ferro (FOE -2.8%) says it will redeploy, divest or curtail assets that can't generate sufficient returns, and is reviewing its product lines to determine potential to create value and generate cash, a day after it rejected A. Schulman's (SHLM +1.2%) $563M buyout offer. Much of FOE's 8% drop in Q4 revenues is traced to weakness in its electronic materials business.| Mar. 5, 2013, 11:43 AM
Mar. 4, 2013, 12:55 PM
Mar. 4, 2013, 9:10 AM
Mar. 4, 2013, 7:43 AM
Ferro Corporation (FOE) receives a buyout offer of $6.50/share in cash and stock from A. Schulman (SHLM). The price represents a 25% premium to Friday's close. Schulman estimates the merger can achieve $35M in cost savings beyond Ferro's current targets. FOE +25% premarket. (PR)| Mar. 4, 2013, 7:43 AM | 2 Comments
Feb. 6, 2013, 3:07 PM
Ferro (FOE +2.5%) moves higher today after saying it's sold assets related to its solar pastes business to Heraeus, a private global precious metals and technology company based in Hanau, Germany. Financial details of the transaction were not disclosed. With the sale, FOE will eliminate operating losses associated with the solar business. For FY13, FOE now expects EPS of $0.25 to $0.30, higher than estimates of $0.23.| Feb. 6, 2013, 3:07 PM | 1 Comment
Oct. 10, 2012, 12:45 PM
Oct. 10, 2012, 10:39 AM
Ferro (FOE -21.2%) shares are faltering after it again lowered its 2012 earnings guidance, mostly owing to a weakening outlook for its business focused on pastes and metal powders used in the production of solar cells. FOE expects to post writedowns of $175M-$200M. At least two research firms - Longbow and First Analysis - downgrade shares.| Oct. 10, 2012, 10:39 AM