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.
Ball Corp (BLL) to Shut Beverage Packaging Plant in Brazil
Read MoreHide Full Article
Ball Corporation has announced to cease production at its beverage packaging plant in Cuiabá, Brazil, in order to alleviate cost structure. The decision will affect around 70 employees, though Ball Corp has assured to provide those employees with benefits and outplacement services, in line with legal requirements.
Ball Corp’s Cuiabá plant has been operating for almost 20 years. It was one of its 14 facilities in South America. Following the closure of the plant, some of the employees will be transferred to other locations of the company.
In August 2017, Ball Corp announced to cease production at its three beverage packaging plants in Birmingham, AL; Chatsworth, CA; and Longview, TX. It also declared to close the food-can production at its Springdale, AR plant in October last year. Moreover, these measures are in sync with Ball Corp’s focus to improve general and administrative cost structure.
Ball Corp’s South America segment accounted for 15% of consolidated net sales in 2017, producing around 16 billion aluminum beverage containers. However, the company remains concerned about the segment’s performance, due to the impact of the truckers' strike in Brazil lately.
Further, it continued to anticipate tougher year-over-year comparison in the second half of 2018 for the Brazilian business, mainly due to the lack of profit recorded by the manufacturing contract of a divested business, challenging year-over-year volume comparisons and tepid economic condition in the region. Moreover, due to competition, Ball Corp's volume growth is also predicted to be slower than the market rate during 2018 in Brazil.
Due to these concerns, Ball Corp’s shares dropped around 14% over the past year, which is in line with the industry’s decline.
Actuant has a long-term earnings growth rate of 15.6%. Its shares have rallied 19% year to date.
DMC Global has a long-term earnings growth rate of 20%. The company’s shares have appreciated 249% year to date.
Chart Industries has a long-term earnings growth rate of 26.9%. The stock has surged 79% so far this year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Ball Corp (BLL) to Shut Beverage Packaging Plant in Brazil
Ball Corporation has announced to cease production at its beverage packaging plant in Cuiabá, Brazil, in order to alleviate cost structure. The decision will affect around 70 employees, though Ball Corp has assured to provide those employees with benefits and outplacement services, in line with legal requirements.
Ball Corp’s Cuiabá plant has been operating for almost 20 years. It was one of its 14 facilities in South America. Following the closure of the plant, some of the employees will be transferred to other locations of the company.
In August 2017, Ball Corp announced to cease production at its three beverage packaging plants in Birmingham, AL; Chatsworth, CA; and Longview, TX. It also declared to close the food-can production at its Springdale, AR plant in October last year. Moreover, these measures are in sync with Ball Corp’s focus to improve general and administrative cost structure.
Ball Corporation Price
Ball Corporation Price | Ball Corporation Quote
Ball Corp’s South America segment accounted for 15% of consolidated net sales in 2017, producing around 16 billion aluminum beverage containers. However, the company remains concerned about the segment’s performance, due to the impact of the truckers' strike in Brazil lately.
Further, it continued to anticipate tougher year-over-year comparison in the second half of 2018 for the Brazilian business, mainly due to the lack of profit recorded by the manufacturing contract of a divested business, challenging year-over-year volume comparisons and tepid economic condition in the region. Moreover, due to competition, Ball Corp's volume growth is also predicted to be slower than the market rate during 2018 in Brazil.
Due to these concerns, Ball Corp’s shares dropped around 14% over the past year, which is in line with the industry’s decline.
Zacks Rank & Key Picks
Ball Corp currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the same sector are Actuant Corporation , DMC Global Inc. (BOOM - Free Report) and Chart Industries, Inc. (GTLS - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Actuant has a long-term earnings growth rate of 15.6%. Its shares have rallied 19% year to date.
DMC Global has a long-term earnings growth rate of 20%. The company’s shares have appreciated 249% year to date.
Chart Industries has a long-term earnings growth rate of 26.9%. The stock has surged 79% so far this year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>