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SOURCE Wall Street Source
NEW YORK, March 18, 2013 /PRNewswire/ --
Today, Wall Street Source announced new research reports highlighting LyondellBasell Industries NV (NYSE:LYB), Flotek Industries Inc (NYSE:FTK), Albemarle Corporation (NYSE:ALB), RPM International Inc. (NYSE:RPM) and Olin Corporation (NYSE:OLN). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
LyondellBasell Industries NV Research Report
LyondellBasell Industries announced that it had cut the use of heavy sour crude oil from Venezuela by about 36 percent between 2009 and 2012 at its 268,000 barrel per day Houston refinery to accommodate new supplies of crude oil from Canada. The company is now spending $50 million to nearly triple its capacity to run heavy Canadian crude at the refinery, to 175,000 bpd from 60,000 bpd. A crude distillation unit and a coking unit in the refinery are being converted to refine crude from Canada's tar sands fields, and are expected to finish mid-April. The move comes as the company moves away from a 13-year partnership with Venezuela's national oil company Petroleos de Venezuela SA that already ended in 2006. In other news, the company announced that it may spend as much as $1 billion through 2016 to boost output of chemicals and plastics to take better advantage of low-cost U.S. natural gas. Management said new projects costing $900 million to $1 billion will increase annual pretax earnings by $500 million to $600 million. The Full Research Report on LyondellBasell Industries NV - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WallStSource.com/r/full_research_report/d278_LYB]
Flotek Industries Inc Research Report
Flotek Industries announced its partnership with an affiliate of Oman-based Gulf Energy, LLC to construct an advanced oilfield chemistry production facility and build a research and development organization, which management believes would help address the growing need for advanced oilfield chemistry and analysis in the Middle East and North Africa. As part of the deal, Flotek will own 60 percent of two liability companies, a chemical production company that plans to construct a production facility and a research and development laboratory that will focus on the application of Flotek's leading oilfield chemistries to the challenges of drilling, completion and production in the region. Meanwhile, Flotek released its Q4 2012 results a day earlier, posting revenue of $76.7 million and earnings per share of 44 cents. The Full Research Report on Flotek Industries Inc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WallStSource.com/r/full_research_report/f889_FTK]
Albemarle Corporation Research Report
Albemarle announced that its joint venture with Arab Potash Company, Jordan Bromine Company, has successfully commissioned the first phase of its earlier-announced expansion project, where bromine production capacity of the site. The second phase of the expansion is set to double the current capacity of bromine derivatives, hydrobromic acid, calcium bromide and sodium bromide, of which will be commissioned in May 2013. Meanwhile, Albemarle reported Q4 2012 earnings of $1.17 a share compared with $1.13 per share earned in the year-ago quarter. Revenues were $687.6 million in the quarter, down 4 percent from $707.4 million in the year-ago quarter. Sales were impacted by lower metal surcharges in the Catalysts segment, more than offsetting volume growth. The Full Research Report on Albemarle Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WallStSource.com/r/full_research_report/a153_ALB]
RPM International Inc. Research Report
RPM International appointed Salvatore D. Fazzolari to its board of directors earlier this year to replace James A. Karman, who retired at the company's annual meeting of shareholders on October 4, 2012, after 50 years of service. Fazzolari will serve on the audit committee as a Class II member of the RPM board, with his term to expire in 2015. Meanwhile, the company saw its second-quarter net income dip 17 percent as the maker of Rust-Oleum took a hit on an investment in India. RPM posted earnings of $41.7 million, or 31 cents per share, down from $49.9 million, or 38 cents per share, in the same quarter last year. Revenue meanwhile rose 11 percent to $1.02 billion, beating the expected $997.7 million by analysts. For full year 2013, the company expects adjusted earnings of $1.80 to $1.85 per share and revenue of $4.08 billion to $4.16 billion. The Full Research Report on RPM International Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WallStSource.com/r/full_research_report/be2e_RPM]
Olin Corporation Research Report
Olin's Winchester division won a $14.5 million contract to supply small caliber ammunition to the U.S. Army, with an expected completion date of August 30, 2014. Work on the order is to be performed at Winchester's operations in East Alton, Illinois. Meanwhile, the company reported total Q4 2012 sales of $587.6 million, up 32 percent year over year, and a profit in the recent quarter of $34.6 million, up 85 percent from the fourth quarter of 2011. For the full year, Olin posted net income of$149.6 million on net sales of $2.18 billion, while shipments to military customers in 2012 were comparable to the prior year. Forecast for 2013 will be net income in the range of 40 cents to 45 cents per diluted share. Chlor Alkali first quarter 2013 earnings are expected to decline compared to the first quarter of 2012 due to lower volumes and pricing. The Full Research Report on Olin Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WallStSource.com/r/full_research_report/c1d2_OLN]
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