International Paper chief John Faraci tells CNBC that's only for January and part of February.» Read More
*Michael Kors shares soar after results. *Wall Street kicked off a global equities selloff Monday, with the S&P 500 suffering its worst drop since June, after weaker-than-expected U.S. data added to concerns over growth in China and the outlook for some emerging economies.
The company spent more than $400 million in the fourth quarter to write down the value of its xpedx distribution business, which is being combined with Bain Capital-backed Unisource Worldwide Inc and is expected to be spun off as a publicly traded company this year.
*Michael Kors shares soar after results. *International Paper profit nearly doubles. *Equities in Japan and Seoul fell to multi-month lows overnight and Europe followed suit, weighed further by earnings disappointment.
Feb 4- International Paper Co, the largest North American producer of corrugated shipping boxes, said on Tuesday that fourth-quarter profit nearly doubled due in part to strong sales to Amazon.com Inc and other retail customers.
The U.S. economy is being held back by the uncertainty of consumers, International Paper Chairman and CEO John Faraci tells CNBC.
It's tough to produce profits in China, says John Faraci, International Paper chairman & CEO, explaining why his company is looking to find growth in Russia.
*T-Mobile US surges late on report of possible bid from Sprint. NEW YORK, Dec 13- U.S. stocks ended Friday's session little changed after a three-day drop, but logged their worst week in nearly four months on concern that the Federal Reserve could signal the start of a reduction in its stimulus program at its policy-setting meeting next week.
FRANKFURT, Oct 27- Down in the undergrowth of Europe's economy, something is stirring. "There is certainly growing optimism that things are on the mend in Europe," said Vasant Prabhu, chief financial officer of Starwood Hotel and Resorts Worldwide, one of a host of executives to comment during the third-quarter earnings season.
Cramer says some stocks tied to global growth should not be sold, despite the rotation in the market.
International Paper Chairman and CEO John Farac says his company is looking to continually innovate, and discusses McDonald's announcement it is moving to paper from foam products and the company's growth.
Take a look at some of Thursday midday movers:
Oct 24- International Paper Co reported better-than-expected quarterly profit on Thursday, helped by strong sales of corrugated packaging for shipping boxes. John Faraci, the chief executive, said in an interview the global economy continued to improve, but at a pace below its potential.
Oct 24- International Paper Co said on Thursday its quarterly profit rose 61 percent, helped by strong sales of corrugated packaging for shipping boxes. For the third quarter, the company posted net income of $382 million, or 85 cents per share, compared with $237 million, or 54 cents per share, in the year-ago period. Revenue rose 5 percent to $7.41 billion.
With stocks near record highs, strategists are recommending investors focus on stock-picking select names and sectors, rather than the broader market.
The "Fast Money" traders share their final trades of the day.
When Congress strikes a budget deal, "the market's going to want to buy that news," strategist Josh Brown says.
New developments involving a rival have Cramer convinced that IP is a screaming buy.
*Packaging Corp offers $12.55/ share. *Packaging Corp to assume $714 mln of Boise's debt. The deal will secure badly needed production capacity for Packaging Corp, the fourth-largest maker of containerboard and corrugated packaging in the United States, at a time when the industry is consolidating.
U.S. stocks dipped on Wednesday, as a drop in shares of Apple Inc. threatened to put an end to a six-day run of gains for the S&P 500 and weighed heavily on the Nasdaq. **APPLE INC, $467.00, down 5.5 pct.
Sept 11- International Paper Co said it will close its Courtland, Alabama, paper mill by early next year, laying off 1,100 workers. The mill has an annual production capacity of 950,000 tons.