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FOE

Ferro Corporation

5/20/2013, 5:27 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Wednesday, May 1, 6:52 PM "The dissidents have articulated a strong case that change on FOE’s board is warranted," proxy advisory firm ISS says in recommending Ferro (FOE) shareholders vote for two of three dissident director nominees. A vote is set for May 15, less than two months after FOE rejected plastics maker A. Schulman’s $6.50/share offer. Comment! [Commodities]
Wednesday, April 24, 6:42 PM Ferro (FOE): Q1 EPS of $0.10 beats by $0.05. Revenue of $417.5M misses by $22.1M. (PR) Comment! [Earnings, Breaking News]
Tuesday, April 9, 3:56 PM Ferro (FOE -0.9%) slips today, despite raising its Q1 and FY13 per-share earnings guidance as the specialty chemical company cited progress on its cost-cutting initiatives. It now expects its Q1 EPS to be $0.05 to $0.07, and FY13 earnings of $0.30 to $0.35. Cost savings initiatives are now estimated to generate savings of $30M in 2013, rising to $70 million in 2014. Comment! [Earnings]
Monday, April 1, 11:17 AM Ferro (FOE) completes sale of pharmaceutical business to PLI Holdings for $16.9M in cash and up to $8M in incentive payments over two years. The company is selling non-core assets as it seeks to pacify skeptical shareholders who believe the company should have accepted what SA contributor Dr. Jacques Saint-Pierre called a "fair" buyout offer last month. Comment! [Commodities]
Thursday, March 7, 10:19 AM A group of shareholders owning a 4.3% stake says Ferro (FOE -0.4%) should sell itself, criticizing the chemical maker's rejection of A. Schulman's $563M buyout offer. The group, headed by FrontFour Capital and Quinpario Partners, also criticizes FOE's earnings call, where management did not take questions from analysts and investors. Comment! [Commodities]
Tuesday, March 5, 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. Comment! [Commodities, Earnings, M&A, On the Move]
Tuesday, March 5, 9:16 AM Ferro (FOE): Q4 EPS of -$0.07 misses by $0.02. Revenue of $406M (-8.3% Y/Y) beats by $14M. (PR) Comment! [Earnings, Breaking News]
Monday, March 4, 12:55 PM Midday top 10 gainers: HMG +96%. FOE +33%. HGSH +20%. NQ +18%. MTG +17%. TELOZ +17%. PRAN +15%. OTT +15%. OUTD +15%. YOD +13%.
Midday top 10 losers: DRWI -22%. SCSS -16%. AT -16%. GMXR -15%. TUES -13%. HL -13%. CTC -13%. AUMN -12%. RNIN -12%. RBPAA -12%. Comment! [On the Move]
Monday, March 4, 9:10 AM Premarket gainers: FOE +29%. OUTD +14%. MTG +8%. SSYS +7%.
Losers: GMXR -32%. DRWI -23%. XIN -13%. HL -11%. RNIN -7%. Comment! [On the Move]
Monday, March 4, 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) 2 Comments [M&A, On the Move]
Monday, March 4, 12:10 AM Notable earnings after Monday’s close: ASNA, FOE, GSS, SHFL, SNTS Comment! [Earnings]
Sunday, March 3, 5:35 PM Notable earnings after Monday’s close: ASNA, FOE, GSS, SHFL, SNTS Comment! [Earnings]
Wednesday, February 6, 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. 1 Comment [On the Move, M&A]
Tuesday, November 13, 2012, 4:56 PM Ferro Corporation (FOE) says that its CEO and president James Kirsch has stepped down and resigned from the board as well. Peter Thomas, Operating VP of Polymer and Ceramic Engineered Materials, has been named Interim President and CEO. The board is engaging a third-party search firm to assist in the search for a permanent successor. William Lawrence, a member of Ferro's board, is serving as acting chairman of the board. Comment!
Monday, October 29, 2012, 5:55 PM More on Ferro (FOE): Q3 misses on its top line estimate as total revenue slumped 24% Y/Y. The company also took impairment charges of $199M, including a $147M impairment of goodwill associated with the Electronic Materials segment and a $41 million impairment of certain property, plant and equipment primarily related to a reduced outlook in the Company's solar pastes business in the Electronic Materials segment. Comment! [Earnings]
Monday, October 29, 2012, 5:30 PM Ferro (FOE): Q3 EPS of -$0.02 beats by $0.01. Revenue of $415M (-24% Y/Y) misses by $34M. (PR) Comment! [Earnings]