Tue, Mar. 3, 4:46 PM
Mon, Feb. 23, 11:28 AM
- Axiall (AXLL +0.3%) is reiterated with a Neutral rating by Citigroup's P.J. Juvecar, who says last week's news that the company might turn one of its divisions into an MLP has overshadowed weakness elsewhere in the stock.
- The analyst points to a number of unknowns yet to be resolved surrounding an MLP: the IRS has slowed down its issuance of PLRs for new asset types; the timing of an IRS decision and the time frame over which an MLP could be formed are uncertain; investor appetite is questionable since there are no chlor-alkali MLPs in existence.
- Given the reservations, Juvecar also cuts his 2015-17 earnings estimates, citing weakness in chlorovinyls and aromatics along with higher maintenance spending.
Thu, Feb. 19, 10:46 AM
- Axiall (AXLL +3.2%) says during its Q4 earnings conference call that it has been studying the possibility of creating a Chlor-Alkali MLP "as an opportunity to access low-cost capital and generate shareholder value," and has filed a ruling request with the IRS to determine if Chlor-Alkali qualifies.
- AXLL saysit would finalize a feasibility study about the creation of an MLP if it receives a favorable ruling.
- AXLL also says it will move its investment decision on a cracker to Q1 to allow time for additional analysis and clarity.
- Earlier: Axiall beats by $0.03, misses on revenue
Wed, Feb. 18, 10:39 PM
Tue, Feb. 17, 5:35 PM
- ABX, ACT, AMTG, ARII, ARRS, ASGN, AVG, AXLL, BGS, BJRI, CAR, CDE, CSLT, CVG, CW, CYNI, DENN, DTLK, ELNK, EOG, EQC, ETE, ETP, EXAM, FNF, HSTM, HT, IAG, IPI, KEG, KEYW, LHO, LOPE, MANT, MAR, MHLD, MIC, MRO, NVMI, OGS, OIS, PAAS, PCYC, PKD, REXX, RGP, SBRA, SCTY, SIX, SNPS, SSS, STR, SUN, SUNE, SXL, TERP, THRX, TILE, TRN, TS, UAM, WES, WGP, WMB, WPZ, XPO, YUME
Mon, Jan. 5, 4:58 PM
- Gastar Exploration (NYSEMKT:GST) -8.4% in today's trade even as a state judge in West Virginia rejected the second of a pair of lawsuits by an Axiall (NYSE:AXLL) unit seeking to halt GST's fracking operations in the Marcellus Shale.
- GST said the judge agreed with it that the plaintiffs were legally precluded from retrying its claims in West Virginia after losing a nearly identical lawsuit in Pennsylvania in October.
- GST also said it recently completed 10 new wells in Marshall County that are now producing a combined gross rate of 28.7B cf of unprocessed natural gas and 3,300 bbl/day of condensate on a restricted basis.
- Topeka Capital cut its price target on GST to $6 from $8 even while saying the company is in good shape to land within its Q4 2014 production guidance of 66M-72M cfe/day and that the new wells should contribute to strong momentum in Q1 2015 (Briefing.com).
Nov. 18, 2014, 3:05 PM
Nov. 5, 2014, 12:04 AM
Nov. 3, 2014, 5:35 PM
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Sep. 25, 2014, 2:08 PM
- Dow Chemical (DOW -0.4%) has begun the process of selling its epoxy and chlorine businesses, and has hired Goldman Sachs and Barclays to manage the sale, Reuters reports.
- The combined epoxy and chlorine businesses have annual EBITDA of close to $500M, and initial estimates place their combined value at $3.5B-$4B.
- Logical buyers, according to the report, could include companies in the sector such as Axiall (AXLL -2.3%) and Westlake Chemical (WLK -2.2%), as well as P-E firms experienced in chemicals such as Apollo Global (APO -1.5%).
Aug. 13, 2014, 5:40 PM
Aug. 5, 2014, 5:58 PM
Aug. 5, 2014, 12:45 PM
- Cautious overall on small caps (NYSEARCA:IWM) due to valuation concerns, Goldman's David Kostin nevertheless has a list of 25 names with market caps less than $4B which could offer at least 25% upside to his firm's price target over the next year.
- The list skews towards Consumer Discretionary - Lumber Lidquidators (LL +2.1%), Office Depot (ODP -2.4%), RetailMeNot (SALE -26.1%), Ryland (RYL +0.5%), Steven Madden (SHOO +2.7%), Vitamin Shoppe (VSI -8.2%) - and Tech - Universal Display (OLED -0.2%), Qlik Technologies (QLIK -1.6%), Proofpoint (PFPT -1.5%), Polycom (PLCM +0.2%), Nimble Storage (NMBL -0.3%), Marketo (MKTO +1.1%), Infinera (INFN +1.1%), Cornerstone Ondemand (CSOD -0.9%), GT Advanced Technology (GTAT +5.7%).
- Also included are Health Care names: Agios Pharmaceuticals (AGIO -1.1%), NPS Pharma (NPSP +0.7%), NuVasive (NUVA -1.8%), Synageva (GEVA -1.6%); Consumer Staples: Darling Ingredients (DAR -0.8%); Materials: Axiall (AXLL -1%), Boise Cascade (BCC -0.9%); Industrials: Granite Construction (GVA +0.7%), Financials: MGIC Investment (MTG +1.2%), Radian (RDN +1.7%).
Aug. 4, 2014, 5:35 PM
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Jul. 10, 2014, 11:24 AM
- After Axiall's (AXLL -3.1%) second straight negative earnings pre-announcement, Citigroup says investor patience is running thin and that an activist or an acquirer could take a look at the company.
- Citi thinks LyondellBasell (LYB) “could afford” to take a look at AXLL, but notes that LYB has stated its preference for returning cash to shareholders over acquisitions; the firm cuts its AXLL price target to $48 from $49 and keeps a Neutral rating on the stock.
- Cowen analysts say they would use any weakness in AXLL following the pre-announcement as a buying opportunity, seeing stronger PVC prices heading into Q3, due in part to competitor ethylene outages that could constrain PVC production.
Jul. 9, 2014, 5:23 PM
- Axiall (AXLL) -3.8% AH after reporting that its PHH vinyl chloride monomer manufacturing facility in Lake Charles, La., has returned to full operating rates, but the slow ramp up will result in lower than expected sales volumes and higher operating and maintenance costs during Q2.
- Also, AXLL says it saw normal seasonal increases in U.S. building products sales volumes during Q2 along with weaker Canadian sales and the impact of a weaker Canadian dollar; operating income results in the aromatics segment will come in ~$12M lower than the year-ago Q2 due to lower operating rates and lower margins.
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