On Tuesday, investors gave earnings from International Paper a Bronx cheer, with shares declining about 1.5 percent after the release.» Read More
International Paper has agreed to pay $6 billion in cash to buy the packaging and recycling unit of Weyerhaeuser, the timber and forest products company, the companies said on Monday.
When the economy rebounds, where's your portfolio going to be? UBS says that's a question to answer right now. The bank released what it calls its "'New' Nifty Fifty," a list of 50 companies from around the world that can use today's troubling market conditions to position themselves to thrive when the economy rebounds. (PART 1)
Dow Jones just announced a change in the Dow Jones Industrial Average. Chevron and Bank of America will replace Altria and Honeywell. Chevron is making a second tour; it came out in 1999. Last time there were changes in the Dow was April, 2004, when AIG, Pfizer and Verizon replaced the old AT&T, Eastman Kodak, and International Paper.
Stocks closed on a positive note after several wild swings that ended an equally volatile week.
International Paper on Friday reported a drop in quarterly net profit but an increase in earnings before one-time items, helped by its printing papers business.
Many investors were expecting third-quarter earnings to be bad. And so far they haven't been disappointed.
Packaging and building products company Temple-Inland, which is under pressure from activist investor Carl Icahn, said Monday that it would sell 1.55 million acres of timberland to Campbell Group for $2.38 billion and then issue a $1.1 billion special dividend.
International Paper said on Thursday its second-quarter profit rose on improved pricing and stable volumes, but earnings fell short of market expectations and pulled the company's shares down 2.7%.
The largest U.S. paper and forest products company reported net income of $434 million, or 97 cents a share, compared with a year-earlier loss of $1.24 billion, or $2.54 a share.
Stocks closed mixed as the Dow Jones Industrials had their worst quarterly performance in almost two years. "What you've seen this quarter is a lot of negative shocks to the system in the market, yet the markets really don't want to go down," said Erik Ristuben of Russell Investment Group.