Breaking News Instant updates and real-time market news.

SCL

Stepan Company

$77.09

6.95 (9.91%)

, KOP

Koppers Holdings

$32.60

0.33 (1.02%)

12:37
10/18/16
10/18
12:37
10/18/16
12:37

Chemical maker Stepan surges after Q3 results beat expectations, dividend hike

Shares of Stepan Company (SCL), a producer of specialty and intermediate chemicals, are surging in afternoon trading after reporting third quarter financial results that surpassed analysts' expectations. With its Q3 earnings report, the company announced a dividend increase. WHAT'S NEW: Before the market open this morning, Stepan morning reported Q3 adjusted earnings per share of $1.06 on revenue of $445M against analysts' estimates of 95c and $444.5M, respectively. Adjusted net income increased 16% to $24.5M year-over-year as polymer operating income jumped 10% to $27.1M versus the prior year. The company attributes the increase to a 10% increase in volumes. The company noted that on October 3, it closed on its acquisition of Tebras/PBC in Brazil, which will allow Stepan to expand and diversify its customer base in Brazil and provide an opportunity to sell the company's broader surfactant portfolio. OUTLOOK: Stepan President and Chief Executive Officer F. Quinn Stepan, Jr. commented that "After a record nine months, we anticipate headwinds in the fourth quarter due to higher raw material costs versus fourth quarter of 2015, scheduled maintenance shutdown of our phthalic anhydride unit and accelerated depreciation resulting from the closure of our Canadian plant." The executive said Stepan's base business should continue to benefit from higher polyol volumes, increased asset utilization and enhanced internal efficiencies and said he believes the Company is positioned for continued growth in 2017. DIVIDEND RAISE: Separately, Stepan said this morning that on October 17, its board declared a 7.9% increase in its quarterly cash dividend to 20.5c per share. The increased dividend, which is payable on December 15, to common stockholders of record on November 30, marks the forty-ninth consecutive year in which the quarterly dividend rate on the company's common stock has increased. PRICE ACTION: Shares of Stepan are up 9.8% to $76.98 in afternoon trading. OTHERS TO WATCH: shares of other specialty chemical makers are also up in afternoon trading, including Koppers Holdings (KOP), KMG Chemicals (KMG) and Huntsman (HUN).

SCL

Stepan Company

$77.09

6.95 (9.91%)

KOP

Koppers Holdings

$32.60

0.33 (1.02%)

KMG

KMG Chemicals

$29.36

0.31 (1.07%)

HUN

Huntsman

$15.75

0.09 (0.57%)

  • 18

    Oct

  • 28

    Oct

SCL Stepan Company
$77.09

6.95 (9.91%)

03/18/16
WLSD
03/18/16
DOWNGRADE
WLSD
Hold
Stepan Company downgraded to Hold from Buy at Wellington Shields
05/03/16
GHSC
05/03/16
DOWNGRADE
GHSC
Neutral
Stepan Company downgraded to Neutral from Accumulate at Seaport Global
Seaport Global downgraded Stepan to Neutral and increased its price target to $63 from $61 citing balanced risk/reward.
KOP Koppers Holdings
$32.60

0.33 (1.02%)

06/08/16
06/08/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: Koppers Holdings (KOP) initiated with an Outperform at Barrington with analyst Rudolf Hokanson saying the shares offer a "unique opportunity to participate in a transformation of an established company." 2. Zebra Technologies (ZBRA) initiated with a Neutral at Goldman with analyst Matthew Cabral noting he is concerned by recent margin weakness and see risks from consumer devices in certain use cases. 3. QEP Resources (QEP) initiated with a Buy at Drexel Hamilton. 4. Liberty SiriusXM (LSXMA) initiated with a Buy at Deutsche Bank. 5. Cubic (CUB) initiated with a Buy at Canaccord. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/16
BRRR
06/08/16
INITIATION
Target $39
BRRR
Outperform
Koppers Holdings initiated with an Outperform at Barrington
Barrington analyst Rudolf Hokanson started Koppers Holdings with an Outperform rating and $39 price target. The shares offer a "unique opportunity to participate in a transformation of an established company," Hokanson tells investors in a research note.
07/18/16
MONN
07/18/16
DOWNGRADE
MONN
Neutral
Koppers Holdings downgraded to Neutral from Buy at Monness Crespi
03/14/16
MONN
03/14/16
UPGRADE
MONN
Buy
Koppers Holdings upgraded to Buy from Neutral at Monness Crespi
KMG KMG Chemicals
$29.36

0.31 (1.07%)

12/11/15
12/11/15
UPGRADE

On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AvalonBay (AVB) upgraded to Outperform at Baird... C&J Energy (CJES) upgraded to Buy from Neutral at Citi... Cablevision (CVC) upgraded to Overweight from Neutral at JPMorgan... Colfax (CFX) upgraded to Outperform from Market Perform at Cowen... Flex (FLEX) upgraded to Buy from Neutral at Citi... Granite upgraded to Outperform from Market Perform at FBR Capital... Helmerich & Payne (HP) upgraded to Neutral from Sell at Citi... Hologic (HOLX) upgraded on checks, growth outlook at Stifel... KMG Chemicals (KMG) upgraded to Buy from Accumulate at Seaport Global... LaSalle Hotel (LHO) upgraded to Outperform from Neutral at Credit Suisse... Landstar System (LSTR) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Buy from Neutral at Citi... National Oilwell (NOV) upgraded to Neutral from Sell at Citi... NuVasive (NUVA) upgraded to Neutral from Underperform at BofA/Merrill... Ollie's Bargain Outlet (OLLI) upgraded to Buy from Neutral at BofA/Merrill... Parsley Energy (PE) upgraded to Outperform from Sector Perform at Iberia... Patterson-UTI (PTEN) upgraded to Buy from Neutral at Citi... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Superior Energy (SPN) upgraded to Buy from Neutral at Citi... Veeco (VECO) upgraded to Hold from Sell at Summit Research... Weatherford (WFT) upgraded to Buy from Neutral at Citi.
12/11/15
GHSC
12/11/15
UPGRADE
Target $26
GHSC
Buy
KMG Chemicals upgraded to Buy from Accumulate at Seaport Global
Seaport Global analyst Michael Harrison upgraded KMG Chemicals to Buy citing the better than expected Q1 report and valuation. Harrison said KMG is benefiting from volume growth, lower raw material and freight costs, and completion of recent restructuring efforts. The analyst said valuation gives little credit for current earnings power or further value creation through M&A. Harrison maintained is $26 price target on KMG Chemicals shares.
HUN Huntsman
$15.75

0.09 (0.57%)

03/07/16
UBSW
03/07/16
NO CHANGE
Target $14
UBSW
Buy
Huntsman shares offer compelling opportunity, says UBS
UBS said Huntsman shares offer a compelling opportunity, citing the earnings potential of its cyclical businesses and its review of alternatives for its TiO2 division. UBS reiterated its Buy rating and $14 price target on Huntsman shares.
02/11/16
KEYB
02/11/16
DOWNGRADE
KEYB
Sector Weight
Huntsman downgraded to Sector Weight from Overweight at KeyBanc
07/11/16
NOMU
07/11/16
NO CHANGE
NOMU
Buy
Olin and Huntsman remain Top Picks for 2H 2016 at Nomura
Nomura analyst Aleksey Yefremov said Olin (OLN) and Huntsman (HUN) remain Top Picks heading into 2H 2016. The analyst sees stronger evidence of recovery in chlor-alkali and TiO2, combined with above-average FCF yields for both Buy rated names.

TODAY'S FREE FLY STORIES

STAY

Extended Stay America

$17.45

0.26 (1.51%)

06:54
04/27/17
04/27
06:54
04/27/17
06:54
Earnings
Extended Stay lifts FY17 revenue view to $1.29B-$1.31B from $1.28B-$1.305B 

Consensus $1.3B.

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

NTDOY

Nintendo

$31.05

-0.6 (-1.90%)

06:54
04/27/17
04/27
06:54
04/27/17
06:54
Hot Stocks
Breaking Hot Stocks news story on Nintendo »

Nintendo sees FY17 net…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NOK

Nokia

$5.37

-0.06 (-1.11%)

06:53
04/27/17
04/27
06:53
04/27/17
06:53
Technical Analysis
Nokia trades sharply higher after results »

In the pre-market the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    May

NTDOY

Nintendo

$31.05

-0.6 (-1.90%)

06:53
04/27/17
04/27
06:53
04/27/17
06:53
Hot Stocks
Nintendo says Switch 'off to a promising start' »

Nintendo Switch, a new…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

EQGP

EQT GP

$26.75

-0.39 (-1.44%)

06:52
04/27/17
04/27
06:52
04/27/17
06:52
Hot Stocks
EQT GP increases quarterly distribution 8% to 19.1c per share »

The distribution will be…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    May

POL

PolyOne

$37.39

-0.02 (-0.05%)

06:51
04/27/17
04/27
06:51
04/27/17
06:51
Earnings
PolyOne reports Q1 adjusted EPS 59c, consensus 54c »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 11

    May

STAY

Extended Stay America

$17.45

0.26 (1.51%)

06:51
04/27/17
04/27
06:51
04/27/17
06:51
Earnings
Extended Stay America reports Q1 adj. EPS 15c, consensus 12c »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

FCAU

Fiat Chrysler

$11.65

1.11 (10.53%)

, GOOG

Alphabet

$871.73

-0.57 (-0.07%)

06:51
04/27/17
04/27
06:51
04/27/17
06:51
Periodicals
Fiat Chrysler seeks more self-driving supplier partners, Reuters reports »

Fiat Chrysler (FCAU) is…

FCAU

Fiat Chrysler

$11.65

1.11 (10.53%)

GOOG

Alphabet

$871.73

-0.57 (-0.07%)

GOOGL

Alphabet Class A

$889.14

0.3 (0.03%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 02

    May

  • 16

    May

  • 22

    May

NTDOY

Nintendo

$31.05

-0.6 (-1.90%)

06:51
04/27/17
04/27
06:51
04/27/17
06:51
Earnings
Nintendo reports FY16 profit per share Y853.87 vs. Y137.4 last year »

Reports FY16 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

06:50
04/27/17
04/27
06:50
04/27/17
06:50
General news
Front-month WTI crude prices are down 1% »

Front-month WTI crude…

EXAS

Exact Sciences

$23.80

-1.09 (-4.38%)

06:50
04/27/17
04/27
06:50
04/27/17
06:50
Technical Analysis
Exact Sciences hits new 52-week high after results »

The stock was last up…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 30

    May

  • 06

    Jun

BWA

BorgWarner

$41.06

0.22 (0.54%)

06:49
04/27/17
04/27
06:49
04/27/17
06:49
Earnings
BorgWarner now sees FY17 EPS $3.50-$3.60, consensus $3.41 »

Sees FY17 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 09

    May

SDPI

Superior Drilling

$0.79

-0.0099 (-1.24%)

06:49
04/27/17
04/27
06:49
04/27/17
06:49
Earnings
Breaking Earnings news story on Superior Drilling »

Superior Drilling sees Q1…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

06:48
04/27/17
04/27
06:48
04/27/17
06:48
Hot Stocks
Breaking Hot Stocks news story on Dow Chemical »

Dow Chemical reports Q1…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    May

  • 09

    May

  • 11

    May

DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

06:48
04/27/17
04/27
06:48
04/27/17
06:48
Hot Stocks
Dow Chemical reports Q1 EBITDA $2.1B »

Q1 operating EBITDA…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    May

  • 09

    May

  • 11

    May

BWA

BorgWarner

$41.06

0.22 (0.54%)

06:47
04/27/17
04/27
06:47
04/27/17
06:47
Earnings
BorgWarner sees Q2 EPS 87c-91c, consensus 87c »

Sees Q2 organic net sales…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 09

    May

RHHBY

Roche

$32.20

-0.207 (-0.64%)

06:47
04/27/17
04/27
06:47
04/27/17
06:47
Hot Stocks
Roche CEO Severin Schwan says 'well on track' to meet full-year targets »

Commenting on the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    May

  • 06

    Jun

  • 26

    Jun

RHHBY

Roche

$32.20

-0.207 (-0.64%)

06:46
04/27/17
04/27
06:46
04/27/17
06:46
Earnings
Roche reports Q1 group sales CHF12.94B vs. CHF12.41B last year »

Group sales increased 4%…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    May

  • 06

    Jun

  • 26

    Jun

BWA

BorgWarner

$41.06

0.22 (0.54%)

06:46
04/27/17
04/27
06:46
04/27/17
06:46
Earnings
BorgWarner reports Q1 EPS 89c, consensus 84c »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 09

    May

XRF

China Rapid Finance

06:45
04/27/17
04/27
06:45
04/27/17
06:45
Syndicate
China Rapid Finance 10M share IPO price range lowered to $6.00-$7.00 »

China Rapid Finance 10M…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

06:45
04/27/17
04/27
06:45
04/27/17
06:45
Earnings
Dow Chemical reports Q1 operating EPS $1.04, consensus 98c »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    May

  • 09

    May

  • 11

    May

HP

Helmerich & Payne

$65.21

-0.18 (-0.28%)

06:45
04/27/17
04/27
06:45
04/27/17
06:45
Earnings
Helmerich & Payne reports Q2 EPS (45c) with items, consensus (40c) »

Reports Q2 revenue $405M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

RHHBY

Roche

$32.20

-0.207 (-0.64%)

06:44
04/27/17
04/27
06:44
04/27/17
06:44
Hot Stocks
Roche confirms FY17 outlook, sees sales up low to mid single digits »

In 2017, Roche expects…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    May

  • 06

    Jun

  • 26

    Jun

BSX

Boston Scientific

$25.97

0.23 (0.89%)

06:44
04/27/17
04/27
06:44
04/27/17
06:44
Earnings
Boston Scientific baks FY17 adj. EPS view of $1.22-$1.26, consensus $1.25 »

Raises FY17 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 09

    May

  • 07

    Jun

  • 27

    Jun

AKAM

Akamai

$62.24

0.44 (0.71%)

06:43
04/27/17
04/27
06:43
04/27/17
06:43
Downgrade
Akamai rating change  »

Akamai downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    May

  • 08

    Jun

  • 15

    Jun

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.