Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at $153.53 on Monday. Alibaba Group Holding Limited has a one year low of $80.60 and a one year high of $153.70. The stock has a market cap of $382.61 billion, a PE ratio of 60.49 and a beta of 2.62. The company’s 50-day moving average price is $130.82 and its 200-day moving average price is $110.09.
J P Morgan Chase & Co assumed coverage on shares of Alibaba Group Holding Limited (BABA) in a research report released on Tuesday, June 27th, MarketBeat.com reports. The brokerage issued an overweight rating and a $190.00 price objective on the specialty retailer’s stock.
Shares of Progressive Corporation (NYSE:PGR) opened at $45.58 on Monday. The company has a 50-day moving average price of $42.89 and a 200 day moving average price of $39.38. Progressive Corporation has a 52 week low of $30.54 and a 52 week high of $46.33. The stock has a market capitalization of $26.40 billion, a PE ratio of 22.18 and a beta of 0.85.
Nomura Holdings Inc. reduced its position in Progressive Corporation (The) (NYSE:PGR) by 61.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 34,563 shares of the insurance provider’s stock after selling 54,647 shares during the period. Nomura Holdings Inc.’s holdings in Progressive Corporation (The) were worth $1,354,000 as of its most recent filing with the SEC.
Shares of Huntsman Corporation (NYSE:HUN) inclined 1.02% to $27.20. It traded in a range of $26.90 – 27.45, exchanging hands with 3,355,413 shares. The stock has a market capitalization of $6.45B. The company generates revenue of $9.77B and has a net income of $350.00M. The operating margin is 6.80 percent and the net profit margin 3.50 percent. The consensus price target for the stock is $28.71 a share.
Air Products (APD) and Huntsman (HUN) recently declared they have signed a long-term agreement for Air Products to build, own and operate a new steam methane reformer (SMR) and cold box in Geismar, Louisiana. The Air Products facilities, targeted to be onstream in January of 2020, will supply hydrogen, carbon monoxide (CO) and steam to Huntsman’s Geismar operations.
The new facility, to be located on land leased from Huntsman, will produce about 6.5 million standard cubic feet per day (MMSCFD) of CO, 50 MMSCFD of hydrogen, and up to 50,000 pounds per hour of steam. There is also the ability for the facility to be expanded to increase CO in the future to support additional growth.
“We have a long relationship with Huntsman with other operations, so our track record of reliability and customer service were a big asset in being awarded this supply contract. We are happy to expand this relationship with the new plant at Geismar. The new facility supporting Huntsman will be state-of-the-art in terms of high reliability and sustainability, with improved energy efficiency and reduced emissions,” said Marie Ffolkes, president, Industrial Gases Americas at Air Products.
Tony Hankins, president of Huntsman Polyurethanes said, “Geismar is one of our three world-scale MDI production facilities, which mainly serves North and South America. This investment will assist underpin our global growth strategy, which involves strengthening our upstream assets, while at the same time rapidly building our downstream footprint and capabilities. We look forward to the technology and reliability that Air Products will bring to our Geismar facility.”
Beyond supply to Huntsman’s production facility in Geismar, Air Products’ new plant will also be connected to its Gulf Coast hydrogen pipeline and network system (GCP). Dedicated in 2012, the 600-mile pipeline span is the world’s leading hydrogen plant and pipeline network system. The GCP stretches from the Houston Ship Channel in Texas to New Orleans, Louisiana, and supplies customers with over 1.4 billion feet of hydrogen per day from over 22 hydrogen production facilities.
Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at $26.81 on Monday. The company has a market cap of $2.53B, a price-to-earnings ratio of 13.58 and a beta of 0.45. The company’s 50 day moving average is $26.12 and its 200 day moving average is $31.56. Tanger Factory Outlet Centers has a 1-year low of $24.71 and a 1-year high of $42.20.
Bank of America Corporation downgraded shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) from a neutral rating to an underperform rating in a research note published on Friday, June 23rd, Marketbeat.com reports. They presently have $25.50 target price on the real estate investment trust’s stock, down from their previous target price of $28.00.