Commodity Channel Index
|Bid||14.14 x 800|
|Ask||14.14 x 800|
|Day's Range||13.80 - 14.38|
|52 Week Range||7.02 - 25.35|
|Beta (5Y Monthly)||2.38|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||1.00 (7.63%)|
|Ex-Dividend Date||May 14, 2020|
|1y Target Est||13.60|
Moody's Investors Service, ("Moody's") assigned A3 ratings to E.I. du Pont de Nemours and Company's (EID's) proposed senior unsecured notes. Roughly half of the proceeds from the debt issuance are expected to be used to prepay a portion of the company's unfunded pension liability, leaving the company's gross adjusted leverage unchanged for this portion of the issuance, with the balance of proceeds held in cash to shore up liquidity and serving as an offset to seasonal working capital needs, which tend to be very large and peak at about $4.0 billion. The company's short-term commercial paper rating is unchanged at Prime-2.
McIntyre Partnerships commentary for the first quarter ended March 31, 2020, discussing how the current crisis will likely impact Chemours (NYSE:CC)’s near-term earnings. Performance Review - FY 2019 Through Q1 2020, McIntyre Partnerships returned approx. -56% gross and net. This compares to S&P 500, S&P 600, and Russell 2000 returns including dividends of -20%, -33%, […]
It's been a good week for The Chemours Company (NYSE:CC) shareholders, because the company has just released its...
Ladies and gentlemen, thank you for standing by, and welcome to the Chemours Company First quarter Earnings Call. Before we start, I'd like to remind you that comments made on this call as well as the supplemental information provided in our presentation and on our website contain forward-looking statements that involve risks and uncertainties, including the impact of COVID-19 on our business and operations and the other risks and uncertainties described in the documents Chemours has filed with the SEC.
Shares of specialty chemical company Chemours (NYSE: CC) jumped nearly 14% as trading opened for the day. Although the company's titanium coatings business did well (sales were up 10% in the segment), its other two divisions (fluoroproducts and chemical solutions) saw year-over-year sales declines.
Chemours (CC) delivered earnings and revenue surprises of 39.22% and -2.77%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Chemours Co. gained more than 5% in the extended session Tuesday after the chemicals company reported first-quarter profit and sales above Wall Street expectations and said it planned to cut costs amid slower demand with the coronavirus pandemic. Chemours said it earned $100 million, or 61 cents a share, in the quarter, compared with $94 million, or 55 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $118 million, or 71 cents a share, compared with 63 cents a share a year ago. Sales fell to $1.3 billion from $1.4 billion a year ago. Analysts polled by FactSet expected the company to report adjusted profit of 46 cents a share on sales of $1.3 billion. Chemours said all of its plants are operating "with minimal impact from COVID-19." To weather the slackened demand, however, the company said it aims to cut 2020 costs by $160 million and its capital expenditure plan by by $125 million to $275 million. Chemours said it had "ample" liquidity with no debt due in the near term. The company withdrew its 2020 guidance due to "current demand uncertainty, driven by COVID-19." Shares of Chemours had ended the regular trading day up nearly 12%.
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, announced today that the Board of Directors of Chemours declared a quarterly cash dividend of $0.25 per share on the company's common stock for the second quarter of 2020. The dividend will be paid on June 15, 2020 to stockholders of record as of the close of business on May 15, 2020.
Chemours (CC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody's Investors Service, ("Moody's") assigned Baa1 rating to DuPont de Nemours, Inc.'s (DuPont's) new senior unsecured notes maturing in 2023. "DuPont's new issuance will provide the financial flexibility to refinance their upcoming November maturity while maintaining a solid level of cash cushion during the coronavirus pandemic," said John Rogers, Senior Vice President at Moody's and lead analyst on DuPont.
Moody's Investors Service ("Moody's"), downgraded The Chemours Company's (Chemours) ratings, including the CFR to Ba3 from Ba2, the secured bank facilities to Ba1 from Baa3, and the senior unsecured rating to B1 from Ba3. The outlook on the ratings remains negative, reflecting the heightened and growing level of litigation risk stemming from actions filed by states, environmental regulators, water municipalities and private plaintiffs associated with perfluorochemicals (or PFAS), a family of chemicals used for decades to process a wide range of fluoropolymers. "The downgrade reflects the growing PFAS case load, its impact on the potential ultimate liability, and other adverse developments associated with PFAS litigation" according to Joseph Princiotta, Senior Vice President at Moody's. " The downgrade also reflects profit pressures in flouroproducts and TiO2 and the resulting stress to metrics and cash flow this year," Princiotta added.
The art and science of stock market investing requires a tolerance for losing money on some of the shares you buy. But...
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, announced it will release first quarter 2020 financial results after market close on Tuesday, May 5, 2020. The company will conduct its first quarter 2020 webcast conference call on Wednesday, May 6, 2020 at 8:30 a.m. Eastern Standard Time. The call is open to the public and can be accessed via live webcast and teleconference.
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Fluoroproducts, Chemical Solutions and Titanium Technologies, today announced that the format of this year's Annual Meeting of Shareholders (the "Annual Meeting") has been changed from in-person to virtual-only.
Chemours (CC) is likely to use the $300-million proceeds from borrowings in the future for working capital needs or other general corporate purposes.
The Chemours Co. said late Friday that it was drawing $300 million from its $800 million revolving credit facility "out of an abundance of caution" amid the economic destruction wreaked by the novel coronavirus pandemic. "This action helps to balance our access to domestic and non-domestic cash, and increase our near-term financial flexibility," Chief Executive Mark Vergnano said in a statement. Repaying the $300 million will happen "when the uncertainty in the global markets subsides," the chemicals company said. Chemours confirmed it had cash and cash equivalents plus borrowing capacity around $1.6 billion as of Dec. 31. It said it had no upcoming maturities of senior debt until 2023. "While the current environment remains uncertain, we remain confident in our financial position, the strength of our businesses, and the long-term prospects for Chemours," Vergnano said. Shares of Chemours fell 1.5% in the extended session after ending the regular trading day down 3.3%.
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Fluoroproducts, Chemical Solutions and Titanium Technologies, today announced action it is taking to address macroeconomic uncertainty driven by the coronavirus (COVID-19).
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 […]
The Diamond Princess -- the cruise ship that became the epicenter for the coronavirus outbreak outside of China -- was not owned by Royal Caribbean Cruises (NYSE:RCL). However, the entire cruise industry quickly felt the effects of the crisis. Cruises are on hold globally, and cruise lines are lobbying for a bailout. At this point, RCL stock is down 82% in 2020.Source: Laszlo Halasi / Shutterstock.com With taxpayers up in arms about the prospect of an industry bailout, multiple cruise ships still unable to find a port willing to let them dock, and the global coronavirus pandemic worsening, is it game over for Royal Caribbean? Or is this the opportunity of a lifetime to snap up RCL before the stock recovers?Few sectors have been hammered as badly over the past month as the cruise industry. Since the Diamond Princess was quarantined in Japan over confirmed coronavirus cases on February 4, cruise lines have seen their stocks sink in value.InvestorPlace - Stock Market News, Stock Advice & Trading TipsRCL is down 82% so far this year. Carnival (NYSE:CCL) -- the parent company of Princess Cruises (operator of the ill-fated Diamond Princess) -- has slumped 80%. Norwegian Cruise Line (NYSE:NCLH) is down by 84% so far this year. * 10 of the Best Long-Term Stocks to Buy in a Bear Market At this point, 21 cruise ships are known to have been affected by the coronavirus pandemic. Passengers are ill with the virus, there have been passenger deaths, or the ships are sailing the oceans in a futile attempt to find a port willing to let them dock. A Global Perspective on RCL StockMost global cruise lines have announced they are suspending operations for at least the next month. Headlines are beginning to speculate the coronavirus may well spell the end of the $45 billion U.S. cruise industry.Speaking to The Guardian, Boston University school of hospitality administration professor Dr. Christopher Muller explains why this is a disastrous time for the cruise industry. He says cruise lines will feel the impact even worse than airlines:"When you have 3,500 people booked on one of these mega cruises and the boat doesn't go, it's an enormous expense. Someone's paying for that boat that's sitting idle in the harbor and it's very hard to recapture those ongoing fixed-cost losses. Airlines have much smaller capacity vehicles, so while grounding a 150- or even 400-seat airplane is expensive, they can react much quicker."What about talk of bailouts? While the President favors financial assistance for the struggling cruise industry, Democrats are pushing back. A big problem is the way cruise lines have operated. American cruise lines have employed various strategies including flying their ships under foreign flags specifically to avoid paying U.S. taxes and to pay workers lower wages.That hasn't endeared companies like Royal Caribbean to the public, especially when they turn around and ask for government assistance using taxpayer dollars. Bottom Line on RCL StockThe knee-jerk reaction is to write off cruise lines as toast in the aftermath of the coronavirus pandemic. Massive cruise ships were front and center during the early stages of the coronavirus crisis, with images of quarantined passengers on the front page. Cruises are on halt for at least a month. Ships full of anxious passengers are still in the headlines as they sail from port to port, looking for a country willing to let them disembark.It definitely looks bad for the industry.But there is still room for hope for Royal Caribbean. There's the possibility of financial assistance from the U.S. government. Even without that, cruise patrons have an infamously short memory.Do you even remember the 700 passengers sickened by a norovirus outbreak on Royal Caribbean's Explorer of the Seas in 2014? If history repeats, the image of passengers trapped on the balconies of the Diamond Princess as it was docked in Japan -- while harboring hundreds of coronavirus infections -- will likely fade.That's why investment analysts have an average 12-month price target of over $100 for Royal Caribbean. They don't necessarily see RCL stock recovering fully to its record highs any time soon, but they don't see this cruise line going under, either. InvestorPlace's Will Ashworth has Royal Caribbean featured as one of his seven service stocks to buy on coronavirus weakness. He notes that "RCL stock is cheaper than it has been on a valuation basis since 9/11," and points out that the company remains under the direction of a capable CEO who's been tested by crisis before.In short, RCL stock is bound to continue feeling the impact of the coronavirus for some time to come. It may not have hit bottom yet. However, this cruise line is well-positioned to set sail again -- as is RCL stock.As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 of the Best Long-Term Stocks to Buy in a Bear Market * 7 "Perfect 10" Healthcare Stocks to Buy Now * Where the FANG Stocks Sit in This Wild Market The post Things May Get Bad, but RCL Stock Still Has a Way Forward appeared first on InvestorPlace.