Eastman increases product prices

On March 15, 2017, Eastman Chemical (EMN) announced an increase in the prices of ketones and plasticizers. The company will increase ketone prices by $0.11 per kilogram and plasticizer prices by $0.09–$0.11 per kilogram. EMN will increase ketone prices in North America and Latin America and plasticizer prices in North America.

Eastman Chemical Raises Price of Ketones and Plasticizers

The price hikes were mainly driven by the increase in raw material costs. The price increase will be effective from April 1, 2017, or as contracts allow. The price hike could impact EMN’s revenue positively in 2Q17 provided the volumes aren’t affected adversely. However, since the price rise was driven by the increase in raw material prices, we can also expect an increase in the cost of goods sold as well.

Eastman Chemical’s stock price

For the week ended March 17, 2017, EMN closed at $79.17 and rose 2% for the week. EMN’s stock price traded 7.5% above the 100-day moving average price of $76.50, indicating an upward trend in the stock. On a year-to-date basis, EMN has moved up 5.3%. EMN’s 14-day relative strength index (or RSI) of 52 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 underperformed the ProShares Ultra Basic Materials ETF (UYM), which rose 3.1% for the week ended March 17, 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 8.5%, 8.4%, and 5.9%, respectively, as of March 17, 2017.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

172.31.38.64