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Chief Chops Market 06-07-2011
Tuesday, June 7, 2011 - 6:03pm | 871Cusick's Corner The Chief spoke and the market was not impressed, but there was nothing said that was unexpected. Next issue is that the guidance coming out from various companies speaking at industry events has been even less inspiring. The market is getting into a more and more defensive mode...
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Surprise, Surprise: Sketchy Options Trading Ahead Of Temple-Inland Buyout Offer
Tuesday, June 7, 2011 - 4:08pm | 171Bloomberg is reporting that an option trader's bullish bet on Temple-Inland (NYSE: TIN) may have paid off to the tune of around 267% when International Paper (NYSE: IP) made a $30.60 per share offer to purchase the company. On May 25, the trader bought 6,425 January $25 calls while selling the same...
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Fed Chief Speaks Before Close 06-07-2011
Tuesday, June 7, 2011 - 2:43pm | 906Cusick's Corner Not surprised with the bounce into the Midday -- it would be surprising if it garners any momentum. Fed Chief is speaking this afternoon, right at the close, but I doubt that he will douse any fuel on the markets, i.e. QE talk. I will watch the action into the close because that...
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Top Percentage Gainers and Losers as of 2pm 06/07/11
Tuesday, June 7, 2011 - 1:27pm | 642Best 1) Temple-Inland (NYSE: TIN): Trading up 41.3% from yesterday's close to $29.67. International Paper put in a bid to acquire Temple-Inland for $30.60 per share. Temple's board rejected the deal, saying that the bid undervalued the company. 2) Westinghouse Solar (NASDAQ: WEST): Trading up 28...
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Stocks Hold Higher Ahead of Bernanke Speech
Tuesday, June 7, 2011 - 1:11pm | 143(TheStreet) -- Stocks held gains Tuesday, rebounding after four-straight losing sessions, as basic materials, conglomerates and consumer stocks rose ahead of comments on the economic outlook from Federal Reserve Chairman Ben Bernanke. The Dow Jones Industrial Average was up by 73 points, or 0.6...
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Rock-Tenn Up 4% On Sector Bid
Tuesday, June 7, 2011 - 12:53pm | 104Rock-Tenn Co. (NYSE: RKT) shares are seeing a nice bid this afternoon, after International Paper (NYSE: IP) made an unsolicited offer this morning for Temple-Inland (NYSE: TIN), revaluing the sector. International Paper's bid for Temple-Inland was worth $3.4 billion, or nearly 40% higher than...
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Top Percentage Gainers and Losers as of 12pm 06/07/11
Tuesday, June 7, 2011 - 11:00am | 515Best 1) Temple-Inland (NYSE: TIN): Trading up 39.8% from yesterday's close to $29.37. International Paper (NYSE: IP) put in a bid to acquire Temple-Inland for $30.60 per share. Temple's board rejected the deal, saying that the bid undervalued the company. 2) Westinghouse Solar (NASDAQ: WEST):...
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Stocks Hitting 52-Week Highs
Tuesday, June 7, 2011 - 9:19am | 154Syms Corp (NASDAQ: SYMS) shares rose 1.47% to create a new 52-week high of $11.04. SYMS shares have jumped 55.43% over the past 52 weeks, while the S&P 500 index has gained 22.44% in the same period. Alto Palermo SA (NASDAQ: APSA) shares gained 21.34% to create a new 52-week high of $24.51....
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Calls Purchased on Sealed Air Corporation
Tuesday, June 7, 2011 - 9:13am | 123Shares of Sealed Air Corporation (NYSE: SEE) are higher on the session by 2.09%, currently trading at $22.95. The stock has been moving largely lower over the past six weeks and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A...
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Options Brief: Packaging Corporation of America
Tuesday, June 7, 2011 - 9:07am | 109Shares of Packaging Corporation of America (NYSE: PKG) are higher on the session by 6.67%, trading at $28.62. Overall call volume is now running at 11.84x the daily average, with 41% of all calls traded being purchases on the offer. 2,440 contracts have traded on the session so far. Packaging...
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Morning Market Movers
Tuesday, June 7, 2011 - 8:49am | 125Temple-Inland Inc (NYSE: TIN) shares advanced 41.22% to $29.67 at 9:45 am. Temple-Inland adopted the stockholder rights plan. TIN rejected a $3.3 billion unsolicited takeover bid from International Paper Co (NYSE: IP). Alto Palermo SA (NASDAQ: APSA) shares surged 23.76% to $25.00. APSA's trailing-...
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International Paper Jumping 5% On Bid
Tuesday, June 7, 2011 - 8:17am | 103International Paper Company (NYSE: IP) shares are soaring this morning, gaining more than 5% after the company made an unsolicited bid for rival Temple-Inland (NYSE: TIN) that was rejected. Temple-Inland cited a price that was too low, as well as regulatory scrutiny from the deal. At last check,...
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Temple-Inland Adopts Stockholder Rights Plan
Tuesday, June 7, 2011 - 8:03am | 160The Board of Directors of Temple-Inland Inc. (NYSE: TIN) today adopted a stockholder rights plan and declared a dividend distribution of one Preferred Share Purchase Right on each outstanding share of Temple-Inland common stock. Doyle R. Simons, Chairman and Chief Executive Officer of Temple-...
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UPDATE: Goldman Sachs Moves Temple-Inland to Not Rated
Tuesday, June 7, 2011 - 7:46am | 92Goldman Sachs is moving Temple-Inland (NYSE: TIN) to Not Rated. In a note to clients, Goldman Sachs writes, "The Americas Investment Review Committee has determined that the ratings and price target for Temple Inland should be removed. Goldman Sachs is acting as a financial advisor in connection...
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Bank of America Merrill Lynch Dropping Coverage On Temple-Inland Inc.
Tuesday, June 7, 2011 - 6:47am | 142Bank of America Merrill Lynch is dropping coverage on Temple-Inland Inc. (NYSE: TI) and moving it to No Rating after the company rejected an offer from International Paper (NYSE: IP). In a note to clients, Bank of America Merrill Lynch writes, "After the close today, International Paper (IP)...