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OM Group (NYSE:OMG): Downgraded To Underweight By KeyBanc

Wed, 17 Dec 2008 12:44:00 GMT

Keybanc is out with a yet another major Specialty Chemicals call downgrading OM Group (NYSE:OMG) to Underweight from Hold with a $15 price tgt. Firm notes that during 4Q08, cobalt prices moved from $29/lb in October to $16/lb in November to about $11/lb in December, making the 4Q08 average price $17/lb. They had previously based their 4Q08 EPS estimate of $0.28 on cobalt at $23/lb. Given the precipitous drop, they now estimate 4Q08 EPS for OM Group at a loss of $0.18, bringing revised 2008 EPS estimate to $4.60. Prior 2008 EPS estimate was $5.05 Using a cobalt price of $11/lb (vs. $21/lb previously) for 2009, Keybanc's EPS estimate is cut from $2.50 to $0.80. They again caution that cobalt prices are highly volatile with swings that can be large[More...]

Arch Chemicals (NYSE:ARJ): Major Downgrade From Keybanc

Thu, 04 Dec 2008 13:42:00 GMT

Keybanc is out with a pretty major downgrade on Arch Chemicals (NYSE:ARJ) cutting their rating to Underweight from Neutral with a $18 tgt. In the face of many headwinds, they are reducing their FY09 estimate to $1.80 from $2.30 vs. 2008 EPS estimate of $2.25; firm's $2.25 estimate is the midpoint of Arch Chemicals, Inc.'s current full year guidance of $2.20-$2.30. In their many discussions with companies over the past few weeks, they are seeing a lack of urgency in further reducing current cost structures and companies may not be doing enough to adjust to the current environment. Keybanc senses that ARJ may be in this camp; this is their opinion only. As volumes[More...]

Arch Chemicals Enters into New Accounts Receivable Securitization Facility

Thu, 08 Oct 2009 13:46:00 GMT

Arch Chemicals, Inc. (NYSE: ARJ) announced today that it has entered into a trade accounts receivable securitization facility with PNC Bank and its affiliate, Market Street Funding LLC, which will provide up to $80 million of funding to the Company.
This facility replaces the Company's previous securitization facility with SunTrust Bank and its affiliates; and it follows the Company's recent completion of its seven-year, $75 million private placement in September and its $100 million term loan completed earlier in the year.
Arch Chemicals' Senior Vice President and CFO Steven C. Giuliano said: "We are pleased to have closed on this receivables securitization facility.

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Arch Chemicals Issues $75 Million of 6.70% Seven Year Senior Notes Under a $150 Million Private Shelf Agreement

Tue, 01 Sep 2009 21:51:00 GMT

Arch Chemicals, Inc. (NYSE: ARJ) announced that it has issued $75 million principal amount of unsecured Series A Senior Notes (the Notes) to certain affiliates of Prudential Investment Management, Inc. (Prudential).
The Notes were issued under a $150 million Note Purchase and Private Shelf Agreement that also provides for the purchase by Prudential's affiliates, in their sole discretion, of up to an additional $75 million principal amount of notes over the next three years on terms to be determined.
"We're extremely pleased to have completed this new financing agreement," said Arch Chemicals' Vice President and CFO Steven C. Giuliano.

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Arch Chemicals Reports Second Quarter 2009 Earnings and Revises Full-Year 2009 Earnings Guidance

Thu, 30 Jul 2009 12:25:00 GMT

ARCH CHEMICALS, INC. (NYSE: ARJ) announced sales for the second quarter of 2009 of $414.2 million, compared to $469.6 million for the second quarter of 2008. Higher pricing and the favorable impact of the Advantis acquisition were more than offset by lower volumes and unfavorable foreign exchange. Earnings per share for 2009 were $1.23 per share on $30.9 million of income, compared to $1.33 per share on $33.2 million of income in 2008. 2009 results include an income tax benefit of $1.3 million, or $0.05 per share. Segment operating income was $50.1 million in 2009 compared to $55.7 million in 2008.[More...]

Arch Chemicals, Inc. Declares Quarterly Dividend

Thu, 23 Jul 2009 15:14:00 GMT

The Arch Chemicals, Inc. Board of Directors on July 23, 2009 declared a quarterly dividend of 20-cents on each share of Arch Chemicals (NYSE:ARJ) common stock. The dividend is payable on September 11, 2009 to shareholders of record at the close of business on August 11, 2009.[More...]

Arch Chemicals, Inc. Conference Call Announcement

Fri, 10 Jul 2009 18:54:00 GMT

A conference call to review second quarter 2009 results will be held on Thursday, July 30, 2009, at 1:00 p.m. (ET) by Michael E. Campbell, Chairman, President and CEO; Louis S. Massimo, Executive Vice President and COO and Steven C. Giuliano, Vice President and CFO. Prepared remarks will take about 20 minutes and will be followed by a question and answer period.[More...]

Arch Chemicals Reports First Quarter 2009 Earnings; Reaffirms Full Year 2009 Earnings Guidance

Tue, 05 May 2009 11:55:00 GMT

ARCH CHEMICALS, INC. (NYSE: ARJ) announced sales for the first quarter of 2009 of $293.7 million, compared to $347.1 million for the first quarter of 2008. Higher pricing and the favorable impact of the Advantis acquisition were more than offset by lower volumes and unfavorable foreign exchange. Earnings per share for 2009 were $0.13 per share on $3.2 million of income, compared to $0.23 per share on $5.7 million of income in 2008. Segment operating income was $9.1 million in 2009 compared to $12.2 million in 2008.[More...]

Arch Chemicals, Inc. Declares Quarterly Dividend

Thu, 30 Apr 2009 16:30:00 GMT

The Arch Chemicals, Inc. Board of Directors on April 30, 2009 declared a quarterly dividend of 20-cents on each share of Arch Chemicals (NYSE:ARJ) common stock. The dividend is payable on June 15, 2009 to shareholders of record at the close of business on May 15, 2009.[More...]

Gabelli & Company to Host Second Annual Specialty Chemicals Conference

Tue, 28 Apr 2009 12:48:00 GMT

Gabelli & Company, Inc. will host its 2nd Annual Specialty Chemicals Conference on Thursday, May 14th, 2009 at the Grand Hyatt in New York, NY. This all day research meeting will feature presentations from several leading global producers of agricultural, water treatment, industrial and consumer related specialty chemicals. Institutional investors should contact their salesperson for more information or to register.[More...]

Arch Chemicals, Inc. Names Mark E. Faford Vice President - Apr 1 2009 3:58PM

Wed, 01 Apr 2009 19:53:00 GMT

Mark E. Faford has been named vice president, investor relations and corporate communications of Arch Chemicals, Inc. (NYSE: ARJ).
Mr. Faford will continue to serve as the Company's primary contact with the investment and media communities.
He has been with Arch since its 1999 spinoff from Olin Corporation (and had been with Olin since 1977).

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Arch Chemicals, Inc. Names Mark E. Faford Vice President - Apr 1 2009 2:05PM

Wed, 01 Apr 2009 17:52:00 GMT

Mark E. Faford has been named vice president, investor relations and corporate communications of Arch Chemicals, Inc. (NYSE: ARJ). Mr. Faford will continue to serve as the Company’s primary contact with the investment and media communities.[More...]