BAK - Braskem S.A.

NYSE - NYSE Delayed Price. Currency in USD
10.70
-0.43 (-3.86%)
At close: 4:00PM EDT

10.70 0.00 (0.00%)
After hours: 4:53PM EDT

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Chart Events
Neutralpattern detected
Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close11.13
Open10.95
Bid10.68 x 900
Ask26.00 x 1000
Day's Range10.62 - 11.09
52 Week Range3.86 - 20.15
Volume120,265
Avg. Volume189,130
Market Cap4.173B
Beta (5Y Monthly)0.53
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.41 (3.64%)
Ex-Dividend DateOct 04, 2019
1y Target EstN/A
  • Reuters

    Brazil's Braskem posts quarterly loss of $777 mln, amid forex swings, expenses

    Brazilian petrochemical firm Braskem SA reported on Wednesday a net loss of $777 million in the first quarter compared with a profit of $243 million a year ago, as foreign exchange oscillations led to higher financial expenses. The company said financial expenses grew to $1.332 billion in the quarter ended March 31 from $243 million a year ago, given the depreciation of the Brazilian real and the Mexican peso against the U.S. dollar. In April, Braskem revised its capital expenditure forecast in 2020 to $721 million from around $600 million, as part of its strategy to preserve cash.

  • Projects At Savannah And Charleston Ports Make Progress
    Benzinga

    Projects At Savannah And Charleston Ports Make Progress

    Southeastern U.S. ports are expanding capacity to handle larger container vessels and/or increased rail traffic. Here are some recent updates at the ports of Savannah and Charleston:Mason Mega Rail Milestone Enables Rail Capacity Expansion The Port of Savannah is poised to expand service and rail capacity as the Mason Mega Rail project meets a production milestone.Nine of 18 working tracks have started operations at the project at the Port of Savannah, with two rail-mounted gantry cranes to be commissioned in June. These tracks will make moving containers from trains to trucks more efficient, according to the Georgia Ports Authority (GPA)."At the Port of Savannah, we are working to improve the efficiency of the American supply chain and move goods to market even faster," said GPA Executive Director Griff Lynch. "These efforts are strengthening our logistics network at a time when the nation needs it most."The project has been underway for more than four years and was designed to increase the port's reach in the U.S. southeastern and midwestern markets. About 56,000 feet of the total 129,000 feet of track has been installed so far. The Port of Savannah has access to CSX (NASDAQ: CSX) and Norfolk Southern (NYSE: NSC) railroads. GPA said the Mason Mega Rail Terminal will double GPA's rail capacity to 1 million container lifts annually and enable the handling of 2 million twenty-foot equivalent units (TEUs).The U.S. Maritime Administration provided some grant money to the project."The Mason Mega Rail Terminal is an incredible example of the federal government and the port authority working together to keep America's commerce moving ahead," said GPA Board Chairman Will McKnight. "Even during this [COVID-19] crisis, the disciplined effort involved has been a testament to the vital importance we all place on this nationally significant project."Savannah's import and export containers over the last five years. (SONAR: IMPTEU.USSAV, EXPTEU.USSAV)GPA also said a new overpass on State Road 25 is nearing completion. The overpass, which is expected to open in August, will carry road traffic over eight tracks linking the current Chatham Yard on the south side of the Garden City Terminal with the Mason Mega Rail site to the northwest, GPA said.Earlier this year, GPA leaders laid out plans to double Savannah's capacity to more than 9 million TEUs by 2030.Dredging Underway At The Port Of Savannah Four dredges are occurring simultaneously in the Savannah harbor, the U.S. Army Corps of Engineers announced on May 31. Dredging deepens the harbor, enabling larger container ships to come to the port and enter and leave the harbor during a longer tide window. The dredging is part of the Savannah Harbor Expansion project, which is approximately 62% complete. The outer harbor, a 20-mile channel extending to the Atlantic Ocean, has already been deepened to 49 feet. The inner harbor dredging is the final part of the project. Two dredges in the inner harbor will deepen the harbor to 47 feet, while two other dredges will deepen parts of the harbor to a depth of 42 feet. Federal and state funds are paying for the dredging, while the Georgia Department of Transportation and GPA serve as state sponsors. "The Savannah District continues to manage the intensely complicated task of coordinating dredge actions and placement of dredged material to ensure safety, compliance with contract requirements and timeliness to reach our goal of completing this major deepening in January 2022," said Col. Daniel H. Hibner, commander of the U.S. Army Corps of Engineers' Savannah District. "This effort ensures the harbor will improve the ability of Savannah to meet the demands of today and tomorrow."Chemicals Producers To Build Export Hub At The Port Of Charleston Polyolefins producer Braskem (NYSE: BAK) is constructing an export hub at the Port of Charleston. The facility will provide packaging, warehousing, and export shipping services to support Braskem's U.S. polypropylene production facilities. Brasklem expects the facility to be completed by the third quarter of this year. It will have the capacity to export up to 450 million pounds of polypropylene and specialty polymers worldwide. Polypropylene can be used to make consumer products' packaging, textiles and plastic parts for the automotive industry.Warehouse provider Frontier Logistics has a five-year agreement with Braskem to construct, lease and provide services for Braskem at the Port of Charleston. "The build-out of our new Global Export Hub in South Carolina allows us to leverage our feedstock-advantaged, polymer production assets in the U.S Gulf Coast, Pennsylvania, and West Virginia, to best meet our international clients needs," Braskem America CEO Mark Nikolich said. "With excellent access to national rail and highway networks, this important new logistics and distribution facility in the South Carolina port region significantly enhances Braskem America's international export capability."Braskem's agreement comes as a new production line in La Porte, Texas, is coming online for commercial production in the third quarter of 2020."The polymer resins boom in the Gulf Coast is bringing new cargo to the Southeast," said South Carolina Ports Authority President and CEO Jim Newsome. "Braskem selected the Port of Charleston as its East Coast load port due to our market's unfettered resin export capacity, knowledge of the petrochemical industry and efficiently run port terminals. We welcome Braskem as a customer of S.C. Ports. Our strong business partnerships help to ensure S.C. Ports will continue to grow above market."The Port of Charleston is also undergoing a deepening project that's being undertaken by the South Carolina Ports Authority. The project will allow the inner harbor of Charleston to accommodate container vessels of up to 18,000 TEUs. Import and export monthly containers at Charleston over the last five years. (SONAR: IMPTEU.USCHS, EXPTEU.USCHS)Photo by Brett Sayles from Pexels.See more from Benzinga * FMCSA Issues Intermodal Chassis Inspection Waiver * Transplace Acquires Parcel Managed Transportation Platform ScanData * Trucking Markets: The Bid-Ask Spread Widens(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • 'The intent was to protect the team members and their families': Braskem America CEO addresses staff living in their factories to produce PPE materials
    Yahoo Finance Video

    'The intent was to protect the team members and their families': Braskem America CEO addresses staff living in their factories to produce PPE materials

    Braskem America's employees have volunteered to live in the company’s chemical plant facilities to help produce more PPE materials. Braskem America CEO Mark Nikolich joins Yahoo Finance’s On The Move to discuss.

  • Do Hedge Funds Love Braskem SA (BAK)?
    Insider Monkey

    Do Hedge Funds Love Braskem SA (BAK)?

    We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

  • Reuters

    Brazil's Braskem eyes drawing down of US$1bn revolver: sources

    Brazilian petrochemicals company Braskem is evaluating whether to draw down on its US$1bn revolving credit facility, according to a banking source and others. The move to withdraw a portion or its entire credit facility comes as companies shore up their cash balances to withstand the economic slowdown caused by the coronavirus pandemic. Braskem is evaluating the option to withdraw its dollar-denominated credit facility, but no decision was final yet, the company said in an email communication with Refinitiv LPC.

  • Brazil's cracked city leaves corporate heavyweights on the hook
    Reuters

    Brazil's cracked city leaves corporate heavyweights on the hook

    A sudden, violent tremor knocked José Rinaldo Januario to the floor of his kitchen one Saturday afternoon two years ago - a mystery given the Brazilian city of Maceio had little history of seismic activity. "It was like a volcano exploded," said Januario, 47. Last May, federal authorities identified a culprit: petrochemical giant Braskem.

  • Reuters

    INSIGHT-Brazil's cracked city leaves corporate heavyweights on the hook

    A sudden, violent tremor knocked José Rinaldo Januario to the floor of his kitchen one Saturday afternoon two years ago - a mystery given the Brazilian city of Maceio had little history of seismic activity. "It was like a volcano exploded," said Januario, 47. Last May, federal authorities identified a culprit: petrochemical giant Braskem.

  • Reuters

    Mexico evaluates if ethane supply contract between Pemex, Braskem-Idesa can be canceled

    Mexico's President Andres Manuel Lopez Obrador said on Wednesday his government was evaluating whether an ethane supply contract between state oil firm Pemex and the Braskem-Idesa consortium can be canceled. "We're investigating if the contract can be canceled, if it can be done legally ... there is an ongoing investigation," said Lopez Obrador at his daily press conference. Under the contract's terms, Pemex has had to supply ethane well below current market prices to the Braskem-Idesa plant near the Gulf coast port of Coatzacoalcos.

  • Reuters

    Creditors postpone vote on Odebrecht restructuring to late March- sources

    Creditors of corruption-ensnared conglomerate Odebrecht SA have delayed discussion of the restructuring of 51 billion reais ($12.2 billion) in debt to late March, according to two sources with knowledge of the matter. A vote on the conglomerate plan was expected for Wednesday, but creditors agreed to delay discussions following a decision by creditors of Odebrecht's ethanol unit Atvos. Atvos creditors have rescheduled the vote on the restructuring plan to March 27.

  • Zacks.com featured highlights include: Carrols, Braskem, FirstService and CryoLife
    Zacks

    Zacks.com featured highlights include: Carrols, Braskem, FirstService and CryoLife

    Zacks.com featured highlights include: Carrols, Braskem, FirstService and CryoLife

  • 5 Toxic Stocks to Disown or Play Short to Book Profits
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  • Zacks.com featured highlights include: Braskem, Etsy, Live Nation, Gardner Denver and PTC
    Zacks

    Zacks.com featured highlights include: Braskem, Etsy, Live Nation, Gardner Denver and PTC

    Zacks.com featured highlights include: Braskem, Etsy, Live Nation, Gardner Denver and PTC

  • 5 Toxic Stocks to Dump or Play Short
    Zacks

    5 Toxic Stocks to Dump or Play Short

    Accurate identification of toxic stocks and abandoning or short selling those at the right time is the key to safeguard your portfolio from big losses.

  • Reuters

    CEO of Brazil's Petrobras objects to delay in Braskem sale

    The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday he wants to sell the company's stake in petrochemical company Braskem SA within 12 months, adding that he strongly disagreed with reported plans to delay the sale. On Monday, Reuters reported that creditors of corruption-ensnared construction conglomerate Odebrecht SA, which also has a large stake in Braskem, were in advanced talks to delay a sale for up to two years. "To me, it means they do not want to sell anything," CEO Roberto Castello Branco said during a meeting with investors in London.

  • Exclusive: Brazil's Odebrecht in talks to stave off Braskem sale, keep payout - sources
    Reuters

    Exclusive: Brazil's Odebrecht in talks to stave off Braskem sale, keep payout - sources

    Creditors of Brazil's Odebrecht SA are in advanced talks to let the corruption-ensnared conglomerate keep its crown jewel asset, listed petrochemical company Braskem SA <BRKM5.SA>, for another two years, retreating from their prior demand for a quick sale, two sources with knowledge of the matter said. In a further victory for Odebrecht, which is trying to restructure 51 billion reais ($12.2 billion) in debt, its bank creditors will let it keep receiving most of Braskem's dividends - now virtually Odebrecht's sole revenue source - during that period. The engineering and construction company, implicated in a series of graft scandals across Latin America, will submit its debt proposal to a creditors' meeting on Wednesday, but representatives of creditors whose debt is secured by Braskem shares have informally agreed to it, the sources added, asking for anonymity to disclose private talks.

  • Reuters

    UPDATE 4-Ex-CEO of Brazil's Braskem arrested on U.S. corruption charges

    The former chief executive of Brazilian petrochemical company Braskem SA was arrested on Wednesday in New York on charges that he took part in a scheme to pay millions of dollars in bribes to officials to secure government contracts. Jose Carlos Grubisich was charged with conspiracy to violate a U.S. foreign corruption law and with a money laundering conspiracy in a newly unsealed indictment in federal court in Brooklyn. Grubisich was arrested Wednesday morning at New York's John F. Kennedy Airport and entered a plea of not guilty in federal court in the afternoon, according to John Marzulli, a spokesman for the office of U.S. Attorney Richard Donoghue.

  • Reuters

    Ex-CEO of Brazil's Braskem arrested on U.S. corruption charges

    The former chief executive of Brazilian petrochemical company Braskem SA <BRKM5.SA> was arrested on Wednesday in New York on charges that he took part in a scheme to pay millions of dollars in bribes to officials to secure government contracts. Jose Carlos Grubisich was charged with conspiracy to violate a U.S. foreign corruption law and with a money laundering conspiracy in a newly unsealed indictment in federal court in Brooklyn. Grubisich was arrested Wednesday morning at New York's John F. Kennedy Airport and entered a plea of not guilty in federal court in the afternoon, according to John Marzulli, a spokesman for the office of U.S. Attorney Richard Donoghue.

  • New Strong Sell Stocks for November 18th
    Zacks

    New Strong Sell Stocks for November 18th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.

  • Moody's

    LYB International Finance II B.V. -- Moody's announces completion of a periodic review of ratings of LyondellBasell Industries N.V.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of LyondellBasell Industries N.V. New York, November 11, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of LyondellBasell Industries N.V. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Moody's

    Braskem America Finance Company -- Moody's announces completion of a periodic review of ratings of Braskem S.A.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Braskem S.A. New York, September 02, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Braskem S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.