Eastman increases price of methanol methyl acetate

On March 20, 2017, Eastman Chemical (EMN) announced an increase in the prices of methyl acetate. The price increase of $0.150 per kilogram will be effective beginning April 1, 2017, in North America.

Eastman Chemical Increases Prices of Methanol Methyl Acetate

The price hikes were mainly driven by an increase in raw material costs. The price hike could impact EMN’s revenue positively in 2Q17 provided volumes don’t fall. However, since the price rise was a result of higher raw material prices, we could see an increase in the cost of goods sold as well.

Eastman Chemical’s stock price

For the week ended March 24, 2017, EMN closed at $77.18, a 2.5% fall for the week. EMN’s stock price traded marginally above the 100-day moving average price of $77.00. If the stock continues its downward trend, we could see a 100-day moving average trend reversal. On a year-to-date basis, EMN has moved up 2.6%. EMN’s 14-day relative strength index (or RSI) of 41 indicates that the stock is neither overbought nor oversold. An RSI of 70 indicates that the stock is overbought, and a score of 30 suggests that the stock is oversold. EMN’s 52-week low is $62.70, and its 52-week high is $82.10.

EMN outperformed the ProShares Ultra Basic Materials ETF (UYM), which fell 3.7% for the week ended March 24, 2017. UYM invests 1.4% of its portfolio in Eastman Chemical. The top holdings of the fund include Dow Chemical (DOW), DuPont (DD), and Monsanto (MON), which have weights of 8.8%, 8.5%, and 6.1%, respectively, as of March 24, 2017.

Latest articles

Today, Canopy Growth announced that it acquired the Saskatchewan-based KeyLeaf Life Sciences along with entities relating to the company and its intellectual property. Here's what you need to know about the completed deal.

Yesterday, Tyson Foods (TSN) and fellow meat producers Pilgrim’s Pride (PPC) and Sanderson Farms (SAFM) took a hit to their stocks after news came out about an investigation over price-fixing allegations.

On June 24, RH (RH) was trading at $115.01, implying a rise of 21.2% since its announcement of its first-quarter earnings results on June 12. Despite the surge in its stock price, the company is still trading at a discount of 29.1% to its 52-week high.

26 Jun

Roku Stock Fell Close to 7.0% Yesterday

WRITTEN BY Aditya Raghunath

Roku stock fell 6.8% yesterday to close trading at $93.25 per share. Roku stock has lost over 9.0% in market value in the last two trading days. Prior to this pullback, Roku stock was up a whopping 235.0% year-to-date.

26 Jun

Beyond Meat Stock Up Today on New Product Launch

WRITTEN BY Rajiv Nanjapla

Today, Beyond Meat (BYND) announced that its new product, Beyond Beef, will hit markets across the US later this week.

FedEx (FDX) ended fiscal 2019 on a dismal note and reported a significant YoY decline in fourth-quarter earnings. The delivery giant posted adjusted EPS of $5.01, which was 15.2% lower than the year-ago quarter’s earnings of $5.91. The company cited sluggish revenue growth and increased expenses as the main reason behind the dismal bottom-line performance.