Paper Packaging

This is your Benzinga news summary and trader's outlook for Wednesday, June 1, 2011, covering overnight and Wednesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are showing slight losses morning after the ADP employment data failed to meet analysts'...

Sealed Air Corporation (NYSE: SEE) and Diversey Holdings announced that they have entered into a definitive agreement under which Sealed Air will acquire Diversey, a leading solutions provider to the global cleaning and sanitization market, in a transaction valued at $4.3 billion. The transaction...

RockTenn (NYSE: RKT) and Smurfit-Stone Container Corporation (NYSE: SSCC) today announced the results of their meetings of shareholders held earlier today. Both RockTenn and Smurfit-Stone shareholders approved the merger as more than 99% of the RockTenn shares that voted at the meeting voted “FOR”...

Cusick's Corner The market stayed...constructive but still not able to garner momentum to the upside. The bulls by no means are out of the woods, but the market is setting up for a potential pop, that's if the data that comes out pre-market tomorrow, Personal Income and Spending, does not raise...

Shares of Rock-Tenn Company (NYSE: RKT) are higher on the session by 3.24%, currently trading at $73.00. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A...

Jefferies is initiating coverage of Sonoco Products (NYSE: SON) with a Hold rating and a price target set at $38. In its report, Jefferies writes, “While we like Sonoco's total solutions approach and believe it is a great operator, with shares trading in line with its historical average and a lack...

Jefferies & Company has initiated coverage on Sonoco Products (NYSE: SON) with a Hold rating and $38 price target.

Graphic Packaging Holding Company (NYSE: GPK) announced today that David A. Perdue has been appointed to the Company's Board of Directors, effective May 19, 2011. Mr. Perdue was also appointed as a member of the Compensation and Benefits Committee.

Smurfit (NYSE: SSCC) holders ask judge to block $3.5 billion buyout offer. Rock-Tenn (NYSE: RKT) offering $35 per share in stock and cash.

Sonoco (NYSE: SON) today announced that it would increase the price for all grades of uncoated recycled paperboard by $50 per ton and by 5 to 8 percent for tubes and cores, effective with shipments beginning June 6, 2011. The price changes are necessary due to higher base raw materials, chemicals,...

Dahlman Rose analysts initiated coverage on shares of NRG Energy Inc. (NRG),a wholesale power generation company. They set a “buy” rating and a $29.00 price target on the stock. Compass Point analysts initiated coverage on shares of a self-administered and self-managed real estate investment...

JP Morgan views Graphic Packaging (NYSE: GPK) as a hybrid paper/packaging company given its primary products, end markets and financial/valuation characteristics. The biggest challenge JP Morgan sees for GPK is near-term price/cost, given its price recovery time lag in a rising input cost...

Sonoco (NYSE: SON) has begun rebuilding its molded wood plug operations, which were lost to fire in November 2010, in Hartselle, Alabama, and expects to be back in production late this summer, according to James Harrell, vice president, North America Converting. Molded wood plugs are used in tubes...

J.P. Morgan is out with its report today on Graphic Packagining (NYSE: GPK), initiating GPK at Neutral. In a note to clients, J.P. Morgan writes, "We view GPK as a hybrid paper/packaging company given its primary products (paperboard), end markets (food/beverage) and financial/valuation...

JP Morgan has initiated coverage on Graphic Packaging (NYSE: GPK) with a Neutral rating and $6 price target.