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LyondellBasell Industries N.V. (LYB)

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  • Feb. 1, 2013, 2:36 PM
    LyondellBasell (LYB -2.4%) slips today, despite swinging to a Q4 profit as the company benefited from an easy comparison against a year-earlier period that was weighed down by debt repayment charges. Net income was $623M, or $1.09 a share, a reversal from net losses of $218M, or $0.38 a share, in the prior year period. LYB emerged from Chapter 11 bankruptcy in 2010, and like others in the chemicals industry, has benefited from low U.S. natural gas prices, although its revenue and profits had fallen of late on market weakness in Europe.
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  • Dec. 4, 2012, 5:16 PM
    LyondellBasell (LYB) -2.7% AH after announcing a public offering of 21M common shares by certain selling shareholders that are affiliates of Apollo Management Holdings. LYB will receive no proceeds from the offering.
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  • Nov. 2, 2012, 9:29 AM
    LyondellBasell (LYB) -2.7% premarket on news that selling shareholders affiliated with Apollo Capital are offering 20M shares. The price was not disclosed. As of June 30, Apollo owned a 29.8% stake, with ~171M shares. LYB won't receive any proceeds from the sale, and the total number of ordinary shares won't change as a result of the offering.
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  • Oct. 16, 2012, 2:33 PM
    LyondellBasell (LYB +5.7%) extends yesterday's gains sparked by a Barron's report that the hedge fund favorite was named as one of the chemical companies with most upside potential. But chemical names are strong across the board today, perhaps from speculation that a regulatory ruling could open up a move to an MLP structure: WLK +7.7%, DOW +5.3%, HUN +3%.
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  • Oct. 8, 2012, 2:14 PM
    Shares of chemical and fertilizer producers fall after Citi says the recent spike in natural gas prices could affect Q4 earnings. Natural gas is used as a feedstock for ammonia production and typically makes up 60%-80% of cash costs, which could affect North American producers such as CF Industries (CF -2%) and Agrium (AGU -1.2%). Also: DOW -0.7%, LYB -0.9%.
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  • Sep. 19, 2012, 11:54 AM
    RBC Capital initiates coverage on the chemicals sector today: LyondellBasell (LYB +1%, Celanese (CE +3.8%) and Valspar (VAL +3.4%) are all initiated with an Outperform (I, II, III) and Dow Chemical (DOW +0.1%), DuPont (DD +1%), Eastman Chemical (EMN +0.5%) and PPG Industries (PPG) are started at Sector Perform (I, II, III, IV).
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  • Sep. 4, 2012, 9:08 AM
    LyondellBassell (LYB) -2.4% premarket as Apollo Management and Access Industries plan to sell 17.5M shares amid anticipated demand generated by the inclusion of LYB into the S&P 500 index. Apollo is LYB's largest shareholder with a 29.8% ownership stake, or 171M shares, while Access founder Len Blavatnik holds a ~14% stake and is the no. 2 holder.
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  • Aug. 29, 2012, 5:42 PM
    LyondellBasell (LYB) will replace Sears (SHLD) in the S&P 500 after the close of trading next Tuesday. Sears' public float has been well below the 50% threshold for inclusion for an extended period of time and is no longer considered representative of the index, S&P says. SHLD -3%, LYB +3% AH.
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  • Aug. 27, 2012, 10:58 AM
    LyondellBasell (LYB -2.2%) is downgraded to Neutral from Buy with a price target lowered to $49 from $51 by UBS, which believes shares may weaken later this year due to increased feedstock costs. In Q2, LYB enjoyed outstanding margins due to a combination of factors that resulted in bargain ethane prices.
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  • Jun. 26, 2012, 2:19 PM
    Dow Chemical (DOW -2.2%) is downgraded to Neutral from Overweight at J.P. Morgan, which sees the company as the most expensive of its peers and likely contains the highest earnings risk. The firm maintains its $36 price target on the shares; it believes LYB, WLK and EMN offer more attractive exposure to the sector.
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  • May 9, 2012, 12:38 PM
    LyondellBasell (LYB +4.2%) hikes its quarterly dividend 60% to $0.40/share, signaling its operational strength and progress in debt restructuring. CEO Jim Gallogly says the plastics and chemical company expects to steadily increase dividends over time. Morgan Stanley raises its price target on LYB to $53 from $48, citing the likelihood of higher ethane prices.
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  • Apr. 30, 2012, 9:35 AM
    More on LyondellBasell (LYB) Q1: Shares -4% following its earnings miss. Net profit -9.2% to $599M as the use of high-cost crude oil in Europe and Asia, and weakness in Europe, overshadows the use of cheap shale gas in N. America. "U.S. ethylene manufacturers are in a great competitive position relative to other producers," CEO Jim Gallogly says.
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  • Jan. 17, 2012, 1:48 PM
    LyondellBasell (LYB +1.3%) ticks higher after Goldman upped the shares to Buy earlier today, saying that restocking coupled with industry outages in H1 will drive ethylene prices higher in 2012.
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  • Nov. 25, 2011, 9:46 AM
    Plastics and chemical refinier LyondellBasell (LYB +2%) gains after declaring a special dividend of $4.50 per share, along with its quarterly dividend of $0.25 per share.
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  • Nov. 14, 2011, 8:11 AM
    Dutch chemical giant LyondellBasell (LYB) gains 3% after boosting its quarterly dividend by $0.05/share, to $0.25/share, and announcing a one-time dividend of $4.50/share, to be paid on Dec. 16.
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  • Oct. 28, 2011, 1:58 PM
    LyondellBasell Industries (LYB +1.3%) trades up after its Q3 beats estimates earlier today. Profit soared 92% Y/Y on strong sales volume, most notably in its domestic refining and oxyfuels segments.
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Company Description
LyondellBasell Industries NV is a plastics, chemical and refining company. The Company produces polypropylene and polypropylene compounds, propylene oxide, polyethylene, ethylene and propylene. It also provides technology licenses.