Thu, Oct. 1, 5:35 PM
Mon, Sep. 28, 12:58 PM
- Huntsman (HUN -23.8%) plunges by nearly 25% following an earnings warning from the company after Friday's market close that lower titanium dioxide pricing, currency headwinds, soft demand in Asia, lower oil prices and a delay in benefits from lower raw material prices will negatively impact Q3 earnings.
- HUN says it also sees lower margins for methyl tertiary butyl ether due to lower oil prices and forecast continued lower MDI urethane component product margins in the Asia Pacific region.
- CEO Peter Huntsman says he is "optimistic about the future" despite the short-term headwinds, and that the company anticipates Q4 adjusted EBITDA similar to Q3 at ~$300M, similar to last year's level; HUN also remains committed to a separation of the pigments and additives business by year-end 2016 or sooner.
- Other chemical companies also are lower: DOW -2.7%, DD -1.7%, EMN -4%, ASH -4.3%, CC -7.6%, KRO -1%, SHLM -3.1%, LYB -4.1%, SSL -4%, OTCQX:BASFY -1.3%.
Mon, Sep. 28, 12:43 PM
Mon, Aug. 17, 10:33 AM
- Huntsman (HUN -0.5%) is lower by 37% since June 2 - the date when it was added to Goldman's Conviction Buy list.
- "An obvious catalyst to reversing the negative investor sentiment on HUN remains elusive," says analyst Robert Koort. "We believe that investors remain overwhelmingly skeptical of the HUN value proposition, particularly in an environment that is cautious toward leveraged, global petrochemical and commodity companies."
- Koort still sees robust earnings growth next year, with strong cash flows able to strengthen the company balance sheet, but "validation of this view" looks to be several quarters away.
- The stock remains Buy-rated with $26 price target.
- Previously: W.R. Grace makes Conviction Buy list at Goldman (Aug. 17)
Mon, Aug. 10, 2:17 AM
Wed, Jul. 29, 9:13 AM
Wed, Jul. 29, 6:02 AM
Tue, Jul. 28, 5:30 PM
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Mon, Jul. 27, 5:37 PM
Tue, May 12, 4:56 PM
Thu, Apr. 30, 6:02 AM
Wed, Mar. 4, 4:50 PM
- Huntsman (NYSE:HUN) unveils a plan to restructure its color pigments business, which will include site closures, cost reduction initiatives and a cut of 120 positions.
- Manufacturing sites to be closed by year-end 2015 include Cartersville, Ga., East St. Louis, Ill., and King of Prussia, Pa. in the U.S., as well as a plant in Germany.
- HUN says the move will contribute $20M by the middle of 2016 to its plan to deliver more than $140M in synergies.
- HUN +0.3% AH.
Wed, Feb. 18, 6:02 AM
Tue, Feb. 17, 5:30 PM
Mon, Feb. 9, 4:38 PM
Wed, Jan. 7, 8:19 AM
- Huntsman (NYSE:HUN) CEO Peter Huntsman says his company "will emphatically be a beneficiary over the long-term" in a sustained environment of lower oil prices, as many of its raw materials are derived from the oil refining process.
- The CEO says HUN's margins should improve as the cost of its raw materials decreases and that lower-priced oil will provide consumers with more discretionary spending, which is important for HUN since about one third of its business is consumer-oriented.
- Huntsman also expects a meaningful working capital release which will help strengthen the balance sheet, and believes the company's business will improve throughout 2015.
- HUN +0.7% premarket.
HUN vs. ETF Alternatives
Huntsman Corp is a manufacturer of differentiated organic chemical products and of inorganic chemical products. It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments and Additives.
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