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International Paper Company (IP)

NYSE - Nasdaq Real Time Price. Currency in USD
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48.81-1.05 (-2.10%)
As of 12:44PM EST. Market open.
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  • MarketWatch

    International Paper's stock jumps toward 2-year high after plans to spin off printing papers business

    Shares of International Paper Co. shot up 5.0% toward a more-than 2-year high in premarket trading Thursday, after the packaging, pulp and paper company announced a plan to spin off its printing papers business into a standalone, publicly traded company. The spinoff is expected to be completed in the third quarter of 2021. The spinoff, dubbed SpinCo for now, plans to raise debt to pay a dividend to International Paper, which will be used to pay down debt. SpinCo will have about $4 billion in sales. The spinoff is part of International Paper's plan to cut costs and accelerate earnings. The company expects to generate additional earnings of $350 million to $400 million a year by the end or 2023, including $50 million to $100 million in earnings growth and $300 million in cost cuts. The stock, which is on track to open at the highest price seen during regular-session hours since September 2018, has gained 8.3% year to date through Wednesday, while the S&P 500 has advanced 13.6%.

  • International Paper to Sharpen Focus on Industrial Packaging, Announces Spin-off of Printing Papers
    PR Newswire

    International Paper to Sharpen Focus on Industrial Packaging, Announces Spin-off of Printing Papers

    International Paper (NYSE: IP) announced a plan to pursue a spin-off of the Company's Printing Papers segment into a standalone, publicly traded company ("SpinCo"). The transaction will result in two streamlined, leading companies well positioned for long-term success. Upon completion of the transaction, International Paper and SpinCo will each be well positioned to create long-term value. The Company expects the separation to be tax-free for the Company's shareowners for U.S. federal income tax purposes and plans to complete the spin-off late in the third quarter of 2021.

  • Will International Paper (IP) Gain on Rising Earnings Estimates?
    Zacks

    Will International Paper (IP) Gain on Rising Earnings Estimates?

    International Paper (IP) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.