We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eastman Chemical (EMN) Inks FDCA Deal With Origin Materials
Read MoreHide Full Article
Eastman Chemical Company (EMN - Free Report) inked a non-exclusive license agreement with Origin Materials. Under the deal, Eastman Chemical has licensed its proprietary 2,5-Furandicarboxylic Acid (FDCA) and FDCA derivatives production technology from renewable resources to Origin Materials. Terms of the agreement remained undisclosed.
The U.S. Department of Energy has identified FDCA as one of the top 12 bio-based building blocks. FDCA can be used to produce polymer resins, films, and fibers and as a building block for plasticizers. Also, it can be converted into a number of high-value chemicals or materials. The largest initial FDCA applications are expected to be to make 100% bio-based plastics, such as polyethylene furanoate for beverage containers and food packaging.
Eastman Chemical has devised technologies for converting 5-(hydroxymethyl) furfural (5-HMF) and its derivatives to crude FDCA, polymer grade FDCA and polymer grade dimethylfuran-2,5-dicarboxylate (DMF) economically. The company’s technology is known for producing crude FDCA, polymer grade FDCA and polymer grade DMF with deftness.
Eastman Chemical’s shares have moved up 35.9% over a year, outperforming the industry’s 30% gain.
Eastman Chemical expects to drive growth on the back of innovation and high-margin products amid an uncertain global business environment. Eastman Chemical believes that disciplined capital allocation and aggressive cost-management policies might contribute to earnings and offset challenges faced by the company in Fibers and ethylene pricing.
Factoring in strong first-half 2017 results, the company expects adjusted earnings per share for 2017 to grow 10-12% year over year, up from its earlier view of 8-12%.
Eastman Chemical remains focused on cost-cutting and productivity actions. The company aims to achieve $100 million of cost savings in 2017. The company remains committed to reduce debt and boost shareholder returns.
Eastman Chemical currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the chemical space are The Chemours Company (CC - Free Report) , FMC Corporation (FMC - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
FMC has expected long-term earnings growth of 11.3% and flaunts a Zacks Rank #1.
Air Products has expected long-term earnings growth of 12.1% and carries a Zacks Rank #2.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Image: Bigstock
Eastman Chemical (EMN) Inks FDCA Deal With Origin Materials
Eastman Chemical Company (EMN - Free Report) inked a non-exclusive license agreement with Origin Materials. Under the deal, Eastman Chemical has licensed its proprietary 2,5-Furandicarboxylic Acid (FDCA) and FDCA derivatives production technology from renewable resources to Origin Materials. Terms of the agreement remained undisclosed.
The U.S. Department of Energy has identified FDCA as one of the top 12 bio-based building blocks. FDCA can be used to produce polymer resins, films, and fibers and as a building block for plasticizers. Also, it can be converted into a number of high-value chemicals or materials. The largest initial FDCA applications are expected to be to make 100% bio-based plastics, such as polyethylene furanoate for beverage containers and food packaging.
Eastman Chemical has devised technologies for converting 5-(hydroxymethyl) furfural (5-HMF) and its derivatives to crude FDCA, polymer grade FDCA and polymer grade dimethylfuran-2,5-dicarboxylate (DMF) economically. The company’s technology is known for producing crude FDCA, polymer grade FDCA and polymer grade DMF with deftness.
Eastman Chemical’s shares have moved up 35.9% over a year, outperforming the industry’s 30% gain.
Eastman Chemical expects to drive growth on the back of innovation and high-margin products amid an uncertain global business environment. Eastman Chemical believes that disciplined capital allocation and aggressive cost-management policies might contribute to earnings and offset challenges faced by the company in Fibers and ethylene pricing.
Factoring in strong first-half 2017 results, the company expects adjusted earnings per share for 2017 to grow 10-12% year over year, up from its earlier view of 8-12%.
Eastman Chemical remains focused on cost-cutting and productivity actions. The company aims to achieve $100 million of cost savings in 2017. The company remains committed to reduce debt and boost shareholder returns.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company Price and Consensus | Eastman Chemical Company Quote
Zacks Rank & Other Stocks to Consider
Eastman Chemical currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the chemical space are The Chemours Company (CC - Free Report) , FMC Corporation (FMC - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
Chemours has expected long-term earnings growth of 15.5% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FMC has expected long-term earnings growth of 11.3% and flaunts a Zacks Rank #1.
Air Products has expected long-term earnings growth of 12.1% and carries a Zacks Rank #2.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>