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KEM

Kemet

$3.58

-0.07 (-1.92%)

16:33
10/11/16
10/11
16:33
10/11/16
16:33

Kemet announces additional gross margin improvement action

KEMET Corporation announced that, in a continuance of its effort to further improve gross margins, earnings, and cash flow, it is undertaking the following action: The Solid Capacitors group will modify its vertical integration strategy by relocating its K-Salt facility equipment to its existing Matamoros Mexico plant. The company expects to achieve annual operating cost savings of approximately $3.5M-$4.0M and improve annual working capital by approximately $8.0M with improvements beginning in Q4 of FY17. Non-cash impairment charges of approximately $2.1M, cash severance charges of approximately $0.2M, and cash charges for equipment relocation costs of approximately $1.2M are expected. The company will incur charges in Q2 ending September 30, with the exception of the equipment relocation costs that are expected to be incurred in Q3 of FY17.

KEM Kemet
$3.58

-0.07 (-1.92%)

05/23/16
RILY
05/23/16
INITIATION
Target $4.75
RILY
Buy
Kemet initiated with a Buy at B. Riley
B. Riley analyst Josh Nichols started Kemet with a Buy rating and $4.75 price target. The company is a leading producer of capacitors with an improving cost structure, Nichols tells investors in a research note.
05/23/16
05/23/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Red Rock Resorts (RRR) initiated with a Buy at BofA/Merrill, Deutsche Bank and Stifel as analysts said it will benefit from a Las Vegas Locals recovery and from a dominant market position. The company was also initiated with an Overweight at JPMorgan and a Neutral at Goldman. 2. Kemet (KEM) initiated with a Buy at B. Riley by analyst Josh Nichols, who said the company is a leading producer of capacitors with an improving cost structure. 3. Intuit (INTU) initiated with a Buy at Goldman based on expectations of Quickbooks market expansion and ARPU decline stabilization leading to Small Business growth and profitability. 4. NetSuite (N) initiated with a Sell at Goldman by analyst Jesse Hulsing, who said Street estimates imply a reacceleration in bookings growth, which he questions given 2015 productivity declines and increasing competition. 5. Oshkosh (OSK) initiated with a Neutral at Macquarie with analyst Sameer Rathod saying shares are fairly valued at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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CLLS

Cellectis

$23.15

0.25 (1.09%)

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INFY

Infosys

$14.90

0.13 (0.88%)

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CLLS

Cellectis

$23.15

0.25 (1.09%)

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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

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TRIP

TripAdvisor

$35.74

-0.08 (-0.22%)

13:05
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Options
TripAdvisor call volume above normal and directionally bullish »

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13:05
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Cleveland Fed hawk Mester didn't discuss policy »

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BHI

Baker Hughes

$54.55

0.025 (0.05%)

13:03
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Baker Hughes reports U.S. rig count up 8 to 941 rigs »

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13:00
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Treasury Action: upcoming supply should put a floor under short rates »

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RIO

Rio Tinto

$39.32

0.61 (1.58%)

, GLNCY

Glencore

$7.10

0.05 (0.71%)

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Rio Tinto to give new Glencore C&A proposal 'appropriate consideration' »

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RIO

Rio Tinto

$39.32

0.61 (1.58%)

GLNCY

Glencore

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0.05 (0.71%)

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CLLS

Cellectis

$23.15

0.25 (1.09%)

12:56
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Cellectis announces Calyxt filing of registration statement for proposed IPO »

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  • 26

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PX

Praxair

$133.62

1.15 (0.87%)

12:50
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06/23
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Options
Call spread in Praxair may add to existing bullish position »

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SYT

Syngenta

$92.65

0.05 (0.05%)

12:45
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Periodicals
Syngenta ordered to pay $217.7M to Kansas farmers in GMO corn case, Reuters says »

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MT

ArcelorMittal

$21.21

0.315 (1.51%)

12:45
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ArcelorMittal call volume above normal and directionally bullish »

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12:45
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EFA

iShares MSCI EAFE Index Fund

$65.14

0.16 (0.25%)

, VEA

Vanguard Europe Pacific ETF

$41.22

0.089 (0.22%)

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iShares MSCI EAFE Index Fund

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Vanguard Europe Pacific ETF

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iShares Core MSCI EAFE ETF

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iShares MSCI Japan Index Fund

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iShares MSCI Eurozone ETF

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iShares Nasdaq Biotechnology Index

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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

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VIX

Volatility Index S&P 500 Options

12:30
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VIX calls outpace puts nearly 5:1 as the index dips below 10 »

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CZR

Caesars

$12.55

0.2 (1.62%)

, CACQ

Caesars Acquisition

$19.40

0.15 (0.78%)

12:29
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Caesars announces effectiveness of S-4 registration statement related to merger »

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CZR

Caesars

$12.55

0.2 (1.62%)

CACQ

Caesars Acquisition

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0.15 (0.78%)

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GLYC

GlycoMimetics

$12.10

-0.03 (-0.25%)

12:28
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GlycoMimetics management to meet with Jefferies »

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  • 26

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GOOG

Alphabet

$957.09

-2.36 (-0.25%)

, GOOGL

Alphabet Class A

$976.62

-1.97 (-0.20%)

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Google to bring Posts service to local businesses »

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GOOG

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$957.09

-2.36 (-0.25%)

GOOGL

Alphabet Class A

$976.62

-1.97 (-0.20%)

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  • 26

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CLLS

Cellectis

$23.15

0.25 (1.09%)

12:25
06/23/17
06/23
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Syndicate
Breaking Syndicate news story on Cellectis »

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  • 26

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Breaking General news story  »

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VEON

VEON Ltd

$3.68

-0.03 (-0.81%)

12:20
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Higher option volume in Veon driven by call buying »

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