Packaging Corp. (PKG), Kapstone (KS) Announces $50 Containerboard Price Hikes - Deutsche Bank (IP) (WRK)
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Packaging Corp. (NYSE: PKG) and Kapstone (NYSE: KS) increased containerboard prices by $50 per ton following news yesterday International Paper (NYSE: IP) increased prices effected October 1st, said Deutsche Bank. WestRock (NYSE: WRK) may also increase prices.
"We assume WRK will also look to increase prices which would represent ~70% of domestic capacity. We expect that producers can drive through a significant portion of this increase in October, but we have not factored an increase into our 2017 earnings estimates as we are not confident such an increase can roll through at the box level on a sustainable basis and will largely depend on input cost inflation and demand trends. That said, we think this news will be a short-term catalyst for the sector. We expect the first point of visibility on the success of this attempt will be the October 21st issue of PPW," said analyst Debbie Jones.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Weingarten Realty Investors (WRI) Reports In-Line 3Q
- Jefferies Cuts Price Target on Parexel (PRXL) to $67 Following Weak 1Q
- UPDATE: Stifel Upgrades Highwoods Properties Inc. (HIW) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Trader Talk
Related EntitiesDeutsche Bank, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!