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☆ Smurfit WestRock CEO: Steady increase in demand since last year's depressed levels
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmurfit WestRock CEO: Steady increase in demand since last year's depressed levelsTony Smurfit, CEO of Smurfit WestRock, says results are currently down because raw material costs have been increasing very sharply in the first half of the year.

Persons: Tony Smurfit, Smurfit WestRock

☆ This timber ETF could be on the verge of a breakout, Wolfe Research says
▼ + stars: | 2024-07-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Analyst Rob Ginsberg said in a July 24 note that the Invesco MSCI Global Timber ETF (CUT) appears to be on the verge of a breakout. "The ETF has carved out a very compelling multi year base and is on the verge of breaking out through $34. The timber ETF closed at $33.56 per share on Wednesday. CUT launched in 2007 and is a relatively small ETF, with about $55 million in assets, according to FactSet. Basic Materials ETF (IYM) is up 0.7% in July, compared to a decline of 0.6% for the S & P 500 .

Persons: Rob Ginsberg, WestRock, — CNBC's Michael Bloom Organizations: Wolfe Research, ETF, Basic Materials

☆ Tuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit Westrock
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit WestrockJim Cramer looks at five stocks outside the CNBC Investing Club portfolio.

Persons: Westrock Jim Cramer Organizations: Intel, Netflix, CNBC, Club

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Meta, Alphabet, Amazon, RH, Netflix & more
▼ + stars: | 2024-07-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Goldman Sachs reiterates Alphabet and Meta as buy Goldman said it's sticking with its buy rating on shares of Alphabet and Meta. Bank of America reiterates Apple as buy Bank of America said its checks show App Store revenue increasing for Apple. KeyBanc reiterates Nvidia as overweight KeyBanc said it's sticking with its overweight rating on Nvidia shares. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla shares. " "We initiate coverage on JMIA with a Buy rating and a PT of $14."

Persons: Goldman Sachs, Goldman, Stifel, Jefferies, TD Cowen, it's, Piper Sandler, Piper, KeyBanc, Raymond James, Exscientia, Cowen, Morgan Stanley, Wolfe, Markel, it's bullish, Robinson, Tesla Organizations: Amazon, Netflix, YouTube, Mobile, Bank of America, " Bank of America, Apple, Nvidia, UBS, Group, Citizens, Investment, Ventures, Mizuho, First Bancorp, of America, JPMorgan, Technologies, Pan Locations: destocking, UW, F3Q, SensorTower, BRX, Puerto Rico, Pan -

☆ Jim Cramer calls this stock the Buffett bank; warns nothing really new on Netflix
▼ + stars: | 2024-07-09 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Bank of America : Piper Sandler upgraded the stock to neutral from underweight (hold from sell) and raised its price target to $42 per share from $37. "It's becoming the Buffett bank," Jim Cramer said Tuesday ahead of next week's earnings. RH : Stifel started coverage of the company formerly named Restoration Hardware with a buy and a $315-per-share price target. Netflix : Cowen increased its price target on the stock ahead of earnings next week. Smurfit Westrock : Stifel started coverage of the paper-based packaging company with a buy rating and a $65.70-per-share price target.

Persons: Jim Cramer's, Piper Sandler, It's, Jim Cramer, Warren, Berkshire Hathaway, BofA ., Stifel, Gary Friedman, Gary, Cramer, He's, chipmaker, he's, Cowen, There's, it's Organizations: CNBC, Club, Bank of America, Buffett, Berkshire, Intel, Netflix Locations: BofA

☆ Barclays names three global stocks to buy for the next quarter, giving them major upside
▼ + stars: | 2024-03-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Barclays has named three European stocks — Smurfit Kappa , Leroy Seafood and Raiffeisen Bank — for investors to consider buying for the upcoming quarter. 7: Smurfit Kappa Barclays is bullish on paper packaging maker Smurfit Kappa with a £38.30 ($49.10) price target, indicating 16% upside potential. SKG-GB 1Y mountain Leroy Seafood Barclays also highlighted Leroy Seafood Group, a Norwegian seafood company. Raiffeisen Bank Barclays named Raiffeisen Bank International, an Austrian banking group, as another stock to own in the next quarter, giving it an upside potential of 35%. "Strabag deal improves credibility on Russia exit plan," Barclays analyst Krishnendra Dubey said in a note to clients on Mar.

Persons: Kappa, Leroy Seafood, WestRock, Gaurav Jain, Leroy, Krishnendra Dubey Organizations: Barclays, Raiffeisen Bank, U.S, Mar, Smurfit Kappa Barclays, Kappa, Seafood Barclays, Leroy Seafood Group, Raiffeisen Bank Barclays, Raiffeisen Bank International, Raiffeisen, Strabag Locations: London, New York, Norwegian, Austrian, U.S, Russia

Smurfit Kappa and WestRock will join to create a global packaging company with a value of almost $20 billion. WestRock shareholders will receive $5 in cash and one share in the new company, called Smurfit WestRock, for each WestRock share that they own. Smurfit Kappa stockholders will receive one share in the new company for each Smurfit Kappa share. Smurfit WestRock will be incorporated and domiciled in Ireland, with global headquarters in Dublin, Ireland, where Smurfit Kappa is based. Irial Finan, the chairman at Smurfit Kappa, will be chair of the company and Ken Bowles, chief financial officer at Smurfit Kappa, will serve as CFO of Smurfit WestRock.

Persons: WestRock, Smurfit, Tony Smurfit, Irial Finan, Ken Bowles, Smurfit WestRock Organizations: Kappa, West Pharmaceutical, Smurfit Kappa, Smurfit, European Union, New York Stock Exchange Locations: Europe, U.S, Brazil, Mexico, Ireland, Dublin, Atlanta

WestRock stockholders will get one share in the new company, called Smurfit WestRock, and $5 in cash for each share they hold, which works out to $43.51 per share, the companies said in a statement. Smurfit Kappa shareholders will receive one new Smurfit WestRock share for each share they hold. That could make the deal more than 20% accretive to Smurfit Kappa's earnings per share, the statement added. Smurfit WestRock will be domiciled in low tax Ireland with its global headquarters in Dublin. Smurfit Kappa will de-list from Euronext Dublin, the latest blow for the Irish bourse as building materials giant CRH prepares to leave later this month.

Persons: WestRock, JP Morgan, Jefferies, Tony Smurfit, Ken Bowles, Irial Finan, Smurfit, Yadarisa, Padraic Halpin, Louise Heavens, Jason Neely Organizations: Kappa, Europe's, JP, Smurfit, Smurfit Kappa, London Stock Exchange, Irish bourse, Thomson Locations: DUBLIN, COVID, South, Central, North America, Europe, Ireland, Dublin, New York, Bengaluru

☆ Packaging giant Smurfit Kappa's shares fall 11% after WestRock merger announcement
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: +1 min

Shares of Dublin-based packaging group Smurfit Kappa plunged 11% at Tuesday's market open in London after it announced it would combine with U.S. peer WestRock to create an industry juggernaut. The companies will form Smurfit WestRock — set to be one of the largest packaging companies in the world — run through a holding company incorporated and domiciled in Ireland. It will seek a New York listing with a standard listing on the London Stock Exchange. WestRock shareholders will receive one Smurfit WestRock share and $5 cash, equivalent to $43.51 per share. "We identified [Westrock] as an asset that we can develop with and combine with to be an even better asset.

Persons: Kappa, We've, Tony Smurfit, CNBC's Organizations: U.S, London Stock Exchange Locations: Dublin, London, Ireland, York, United States, . London

☆ European stocks open higher as positive momentum continues
▼ + stars: | 2023-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Paper and packaging businesses Smurfit Kappa and WestRock on Tuesday announced they had agreed to combine. The companies will form Smurfit WestRock, run through a holding company incorporated and domiciled in Ireland, with global headquarters in Dublin, and North and South American operations headquartered in Atlanta, Georgia. It will be led by CEO Tony Smurfit. Shareholders of U.S.-based WestRock will receive one Smurfit WestRock share and $5 cash, equivalent to $43.51 per share. The merger is expected to be completed in the second quarter of 2024, subject to shareholder and regulatory approval.

Persons: Tony Smurfit, Kappa, — Jenni Reid Organizations: Kappa, Tuesday, U.S Locations: Ireland, Dublin, North, American, Atlanta , Georgia

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