Calumet Specialty Prods Stock (NASDAQ: CLMT)

Calumet Specialty Prods Stock (NASDAQ:CLMT), Trade Ideas

Calumet Specialty Prods

Calumet Specialty Products Partners LP is an independent producer of specialty products, including lubricating oils, solvents, waxes, food-grade white oils, pharmaceutical-grade petrolatums, and other products, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company operates through four segments namely the Specialty Products and Solutions segment, Montana/Renewables segment, Performance Brands segment, and corporate. The company generates the majority of its revenue from the Specialty Products and solutions segment, which consists of our customer-focused solutions and formulations businesses, covering multiple specialty product lines, anchored by a unique integrated complex in Northwest Louisiana.

CLMT

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Calumet reported Q4 sales decline of 2.3%, beating consensus. Gross profit down 38.3%. Plans to convert to C-Corp by 2024. Montana Renewables returned to normal operations in December.

Calumet Reports Q4 Sales Beat Amid Challenges, Eyes C-Corp Transition For Broader Appeal

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Calumet Specialty Products Partners, L.P. - Common units representing limited partner interests

Calumet Specialty Products Partners LP

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) with a Buy and maintains $25 price target.

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on Calumet Specialty Prods, Maintains $25 Price Target

Goldman Sachs analyst Neil Mehta maintains Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) with a Buy and lowers the price target from $19 to $17.

Goldman Sachs Maintains Buy on Calumet Specialty Prods, Lowers Price Target to $17

Calumet Specialty Products Partners LP&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) reported a fourth-quarter fiscal 2023 sales decline of 2.3% year-over-year to $976.50 million,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n37282473/calumet-specialty-products-partners-l-p-reports-fourth-quarter-and-full-year-2023-results" rel="noreferrer noopener">beating the consensus of $926.13 million.</a>
CLMT reported a net loss per unit of $(0.59), an improvement from $(0.95) YoY, missing the consensus of $(0.39).
The gross profit totaled $22.1 million (-38.3% Y/Y), and the margin contracted 130 bps to 2.3%.
The operating loss for the quarter contracted to $(13.9) million from $(28.4) million a year ago.
Adjusted EBITDA was $39.7 million compared to $63.9 million a year ago, margin contracted to 4.1% from 6.4% a year ago.
The company plans to convert its corporate structure from an MLP to a C-Corp by the middle of 2024, which it believes will open up the Calumet investment opportunity to a much broader audience.&nbsp;
&#8220;Our 2023 financial results lagged our strategic progress due to the need to replace a cracked steam drum in Montana that left us operating at significantly reduced rates through the second half of the year and two weather events in Shreveport which resulted in significant lost opportunity,&#8221; commented Todd Borgmann, CEO.
Specialty Products and Solutions&#8217; adjusted EBITDA was $75.6 million, compared to $96.1 million a year ago.&nbsp;
Performance Brands&#8217; adjusted EBITDA rose to $6.1 million from $2.7 million in the prior year, driven by improved industrial volumes and increased unit margins across the board as input costs have stabilized.
Montana/Renewables&#8217; adjusted EBITDA for the quarter was $(25.8) million compared to $(13.1) million a year ago. Montana Renewables returned to normal operations in December; the steam drum was successfully replaced.
Cash and equivalents stood at $7.9 million at the end of the quarter. Total facility production in the quarter increased by 16.1% Y/Y to 80,785 bpd.
2029 Secured Notes:&nbsp;Calumet also announced that it has entered into a note purchase agreement to sell $200 million aggregate principal amount of a new series of 9.25% Senior Secured First Lien Notes due 2029 in a private placement transaction.
Price Action:&nbsp;CLMT shares are trading lower by 5.75% at $16.22 on Friday.

Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) reported quarterly losses of $(0.59) per share which missed the analyst consensus estimate of $(0.39) by 51.28 percent. This is a 31.4 percent increase over losses of $(0.86) per share from the same period last year. The company reported quarterly sales of $976.50 million which beat the analyst consensus estimate of $926.13 million by 5.44 percent. This is a 2.33 percent decrease over sales of $999.80 million the same period last year.

Calumet Specialty Prods Q4 EPS $(0.59) Misses $(0.39) Estimate, Sales $976.50M Beat $926.13M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Fomento Economico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMX#NYSE">FMX</a>) is likely to report quarterly earnings at $1.61 per share on revenue of $11.66 billion.
&bull; Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is projected to report quarterly loss at $0.39 per share on revenue of $926.13 million.
&bull; Global Blue Gr Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GB#NYSE">GB</a>) is likely to report quarterly earnings at $0.06 per share on revenue of $119.60 million.
&bull; Hyatt Hotels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $1.60 billion.
&bull; Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $48.40 million.
&bull; Hudbay Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $542.12 million.
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&bull; Anglogold Ashanti (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) is projected to report earnings for its fourth quarter.
&bull; Coca-Cola Europacific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCEP#NASDAQ">CCEP</a>) is expected to report earnings for its Fiscal Year 2023.
&bull; AerCap Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AER#NYSE">AER</a>) is expected to report quarterly earnings at $2.45 per share on revenue of $1.93 billion.
&bull; Bloomin Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>) is projected to report quarterly earnings at $0.69 per share on revenue of $1.20 billion.
&bull; Diana Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DSX#NYSE">DSX</a>) is projected to report quarterly earnings at $0.04 per share on revenue of $58.75 million.
&bull; TransAlta (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAC#NYSE">TAC</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $576.71 million.
&bull; Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) is projected to report quarterly loss at $0.06 per share on revenue of $10.37 billion.
&bull; Federal Agricultural (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGM#NYSE">AGM</a>) is estimated to report quarterly earnings at $4.05 per share on revenue of $88.99 million.
&bull; E W Scripps (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSP#NASDAQ">SSP</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $602.33 million.
&bull; Gray Television (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTN#NYSE">GTN</a>) is projected to report quarterly loss at $0.16 per share on revenue of $863.06 million.
&bull; Northwest Natural Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWN#NYSE">NWN</a>) is expected to report quarterly earnings at $1.27 per share on revenue of $360.31 million.
&bull; Frontier Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FYBR#NASDAQ">FYBR</a>) is likely to report quarterly loss at $0.12 per share on revenue of $1.42 billion.
&bull; Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is likely to report quarterly earnings at $1.35 per share on revenue of $547.66 million.
&bull; Compx Intl (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CIX#AMEX">CIX</a>) is projected to report earnings for its fourth quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $77.30 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For February 23, 2024

Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is set to give its latest quarterly earnings report on Friday, 2024-02-23. Here's what investors need to know before the announcement.
Analysts estimate that Calumet Specialty Prods will report an earnings per share (EPS) of $-0.39. 
Calumet Specialty Prods bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $1.00, which was followed by a 5.19% increase in the share price the next day.
Here's a look at Calumet Specialty Prods's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>-0.07</td>
<td>0.07</td>
<td>0</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.26</td>
<td>-0.23</td>
<td>0.35</td>
<td>-0.86</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.19%</td>
<td>-2.81%</td>
<td>8.8%</td>
<td>8.12%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708614105_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Calumet Specialty Prods were trading at $17.12 as of February 21. Over the last 52-week period, shares are down 12.01%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CLMT/earnings">To track all earnings releases for Calumet Specialty Prods visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Calumet Specialty Prods

Calumet Specialty Products Partners, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) ("Calumet," "the Partnership," "we," or "us"), announced today that we have entered into an agreement that sets forth the terms of our previously announced conversion (the "Conversion") to a new Delaware corporation, Calumet Inc. ("New Calumet").
As previously announced, on November 9, 2023, Calumet entered into the Partnership Restructuring Agreement with Calumet GP LLC, the general partner of the Partnership (the "General Partner"), and The Heritage Group and the other owners of the General Partner (collectively, the "Sponsor Parties"), pursuant to which the parties agreed to negotiate and enter into a Conversion Agreement to, among other things, implement the terms of the Conversion.
On February 9, 2024, Calumet, the General Partner, New Calumet, Calumet Merger Sub I LLC, Calumet Merger Sub II LLC and the Sponsor Parties entered into the Conversion Agreement (the "Conversion Agreement"). The Board of Directors of the General Partner (the "Board") has unanimously approved the terms of the Conversion Agreement. The Board approved the Conversion Agreement following the recommendation and special approval of the Conflicts Committee of the Board. New Calumet is expected to file a registration statement on Form S-4 with the Securities and Exchange Commission containing a proxy statement/prospectus that will be used to solicit proxies for the vote of the Partnership's unitholders in connection with the Conversion and other matters that will be described more fully in the proxy statement/prospectus.
"Completion of the conversion agreement is the next step in Calumet's transformation from an MLP to a C-Corp," said Todd Borgmann, CEO.&nbsp; "In the coming months, we expect to file the S-4 and hold a unitholder vote, with an ultimate target of mid-year for completing the conversion.&nbsp; 2024 is a pivotal year for Calumet, filled with near-term catalysts that could create meaningful shareholder value.&nbsp; I thank our General Partner and Conflicts Committee for laying the groundwork for this conversion which will enable more investors to participate in the Calumet opportunity."
For more information and for further details, please see the Form 8-K that will be filed with the Securities and Exchange Commission.
Conditions to Closing and Tax Treatment
Completion of the Conversion is subject to customary conditions including the approval by the Partnership's unitholders at a special meeting and the customary closing conditions of the associated agreements having been satisfied or waived. The Conversion is intended to be tax-free to the Partnership's unitholders subject to potential recapture for some unitholders as a result of the change in tax status from a partnership to a C-Corporation. The Conversion is expected to close within approximately six months from the execution of the Conversion Agreement.

Calumet Specialty Products Partners, L.P. Announces Execution Of Conversion Agreement  To A New Delaware Corporation, Calumet Inc.

Calumet Specialty Products Partners,&nbsp;L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) (the &quot;Partnership,&quot; &quot;Calumet,&quot; &quot;Company,&quot; &quot;we,&quot; &quot;our&quot; or &quot;us&quot;), announced two financing transaction updates today. These financings replace the Company&#39;s previous Supply and Offtake Agreements (&quot;SOA&quot;) that provided financing for our Shreveport and Montana Refining facilities.&nbsp; The Shreveport SOA has been replaced with a new SOA that we entered into with J. Aron on&nbsp;January 17, 2024.&nbsp; Additionally, we increased the size of our Asset Backed Loan (&quot;ABL&quot;) facility to support the inventories previously provided for under the Montana Refining SOA

Calumet Partners With J. Aron For New Shreveport Supply Offtake, Expands ABL For Enhanced Financial Flexibility

Goldman Sachs analyst Neil Mehta maintains Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) with a Buy and raises the price target from $17 to $19.

Goldman Sachs Maintains Buy on Calumet Specialty Prods, Raises Price Target to $19

Calumet Specialty Products Partners, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) ("Calumet," "we," "our" or "us"), announced today that Montana Renewables, LLC ("MRL") renewable diesel facility has returned to normal operations.&nbsp; The previously announced steam drum replacement and turnaround activity has been successfully completed, and the facility is now processing over 12,000 barrels per day of renewable feedstock.
"We are pleased to have completed the repair work on the cracked steam drum and the turnaround which we pulled forward into November," said Bruce Fleming, CEO Montana Renewables, LLC. "MRL is now running full, and we enter a strategically exciting 2024 with no planned turnarounds. I am thankful to the team in Great Falls for their hard work to complete the maintenance work and return the plant to safe, normal operations."
The return to normal operations comes following an August, September and October when the plant operated at 50% utilization and was in complete shutdown for the turnaround most of November. Over the next three months, MRL will run off the renewable&nbsp;feedstock&nbsp;inventory built throughout the maintenance period and resume the normal procurement of advantaged&nbsp;feedstocks.
&nbsp;

Operational Update: Calumet Announces Montana Renewables Returns to Full Operations

U.S. stocks traded higher, with the Dow Jones gaining around 100 points on Wednesday.
Shares of HP Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpq#NYSE">HPQ</a>) gained during Wednesday&rsquo;s session following quarterly results.
Net revenue fell 6.5% Y/Y to $13.817 billion, beating the consensus of $13.807 billion. Adjusted EPS of $0.90 was in line with the consensus.
The company said it sees first-quarter earnings of 76 cents to 86 cents per share and also affirmed its full-year profit forecast of $3.25 to $3.65 per share.
HP shares rose 3.9% to $28.95 on Wednesday.
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<li>Gyre Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gyre#NASDAQ">GYRE</a>) shares gained 14.2% to $14.54.</li>
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<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) rose 7% to $6.41.</li>
<li>Trip.com Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcom#NASDAQ">TCOM</a>) gained 6.7% to $34.99. Trip.com recently said third-quarter revenue increased 99% year-over-year to $1.89 billion.</li>
<li>Calumet Specialty Products Partners, L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clmt#NASDAQ">CLMT</a>) rose 6.2% to $16.34. Calumet Speciality Products recently posted better-than-expected revenue results.</li>
<li>PagSeguro Digital Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pags#NYSE">PAGS</a>) gained 6% to $9.65.</li>
<li>Iridium Communications Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irdm#NASDAQ">IRDM</a>) rose 5.2% to $38.40. Iridium Communications CEO Matthew Desch acquired a total of 28,000 shares at an average price of $37.01.</li>
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<li>Virgin Galactic Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>) surged 27.5% to $1.99 after the company reported better-than-expected third-quarter financial results.</li>
<li>The Honest Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hnst#NASDAQ">HNST</a>) gained 23% to $1.4780 following upbeat quarterly results.</li>
<li>Affirm Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afrm#NASDAQ">AFRM</a>) rose 22.7% to $26.70 after the company reported better-than-expected first-quarter financial results and issued guidance.</li>
<li>Infinera Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infn#NASDAQ">INFN</a>) gained 22.6% to $4.06 following preliminary third-quarter results..</li>
<li>JanOne Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jan#NASDAQ">JAN</a>) shares climbed 22.4% to $0.3936 as gaining over 7% on Wednesday.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) gained 22% to $10.43 on the heels of the company&#39;s quarterly results.</li>
<li>SomaLogic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slgc#NASDAQ">SLGC</a>) rose 21.3% to $2.4750 following strong quarterly results.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares climbed 20.4% to $14.57 after the company reported better-than-expected third-quarter financial results.</li>
<li>LiveRamp Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ramp#NYSE">RAMP</a>) rose 19.4% to $35.83 after the company posted upbeat second-quarter results and issued strong sales forecast.</li>
<li>OncoCyte Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocx#NASDAQ">OCX</a>) gained 18.5% to $2.55 following third-quarter results.</li>
<li>Braskem S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bak#NYSE">BAK</a>) shares rose 17.8% to $8.28 after Valor Economico Reported that Abu Dhabi&#39;s Adnoc Made a new offer to acquire a stake in the Brazilian petrochemical producer. Braskem also reported results for the third quarter.</li>
<li>Calumet Specialty Products Partners, L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clmt#NASDAQ">CLMT</a>) surged 16.3% to $15.12 following third-quarter results.</li>
<li>Seritage Growth Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/srg#NYSE">SRG</a>) gained 16.3% to $8.65 following third-quarter results.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) rose 16.1% to $11.94.</li>
<li>Bloom Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/be#NYSE">BE</a>) gained 15.4% to $11.57 after the company reported better-than-expected third-quarter financial results.</li>
<li>Jackson Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jxn#NYSE">JXN</a>) climbed 14.4% to $44.55 following strong earnings.</li>
<li>Bakkt Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkkt#NYSE">BKKT</a>) shares rose 14.2% to $0.7326 after declining 29% on Wednesday.</li>
<li>SenesTech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snes#NASDAQ">SNES</a>) gained 13.2% to $0.3225.</li>
<li>Carrols Restaurant Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tast#NASDAQ">TAST</a>) gained 10.8% to $6.90 after the company reported better-than-expected third-quarter financial results.</li>
<li>Globavend Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gvh#NASDAQ">GVH</a>) shares climbed 10.4% to $2.8501. Globavend Holdings recently announced pricing of $6 million initial public offering of 1.5 million shares of common stock at a price of $4 per share.</li>
<li>The Walt Disney Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) rose 6.2% to $89.74 after the company reported better-than-expected quarterly adjusted EPS results.</li>
<li>Tapestry, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpr#NYSE">TPR</a>) gained 6.2% to $29.17 following upbeat earnings.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Enviva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eva#NYSE">EVA</a>) tumbled 75.3% to $0.9501 following third-quarter results. Enviva named Glenn Nunziata as interim Chief Executive Officer in addition to his CFO role.</li>
<li>ContraFect Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cfrx#NASDAQ">CFRX</a>) fell 69.4% to $0.0711.</li>
<li>Atara Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atra#NASDAQ">ATRA</a>) dipped 67% to $0.40 after the company said that primary analysis data from its Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis (PMS) did not meet the primary endpoint of confirmed disability improvement (CDI) by expanded disability status scale (EDSS) at 12 months compared to placebo.</li>
<li>Ikena Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ikna#NASDAQ">IKNA</a>) declined 61% to $1.5768 following weak sales.</li>
<li>WideOpenWest, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wow#NYSE">WOW</a>) shares fell 59.3% to $3.0050 following third-quarter results. Keybanc downgraded WideOpenWest from Overweight to Sector Weight.</li>
<li>Cardlytics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdlx#NASDAQ">CDLX</a>) shares declined 55% to $6.16 after the company reported downbeat sales results for the third quarter.</li>
<li>Wearable Devices Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wlds#NASDAQ">WLDS</a>) shares dipped 53.9% to $0.42 after the company announced a public offering of 4,444,444 ordinary shares at a price of $0.45 per share.</li>
<li>Acutus Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afib#NASDAQ">AFIB</a>) fell 46.6% to $0.2500 following quarterly results.</li>
<li>Assertio Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asrt#NASDAQ">ASRT</a>) fell 46.2% to $1.14 after the company reported worse-than-expected third-quarter financial results.</li>
<li>James River Group Holdings, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jrvr#NASDAQ">JRVR</a>) dipped 35.8% to $8.44. James River Group recently reported worse-than-expected third-quarter revenue results.</li>
<li>NuScale Power Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smr#NYSE">SMR</a>) shares fell 32.5% to $2.0907 after the company reported weak quarterly sales.</li>
<li>Fossil Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fosl#NASDAQ">FOSL</a>) fell 31.1% to $1.1915 following third-quarter results.</li>
<li>Cardio Diagnostics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdio#NASDAQ">CDIO</a>) declined 29% to $0.9771. The company recently announced Family Medicine Specialists selected the company&#39;s epigenetic-genetic tests to identify patients at risk for coronary heart disease.</li>
<li>Amylyx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amlx#NASDAQ">AMLX</a>) fell 26.8% to $13.17 after the company reported worse-than-expected third-quarter financial results.</li>
<li>ProAssurance Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pra#NYSE">PRA</a>) declined 25.5% to $13.16 following third-quarter financial results.</li>
<li>Inspired Entertainment, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inse#NASDAQ">INSE</a>) fell 25.3% to $7.77. Inspired said it requires additional time to complete financial statements for the third quarter and restate certain previously issued financial statements.</li>
<li>Cyngn Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NYSE">CYN</a>) fell 24.7% to $0.1994 following weak sales.</li>
<li>Traeger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cook#NYSE">COOK</a>) declined 22.2% to $2.2950 following quarterly earnings.</li>
<li>Invitae Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvta#NYSE">NVTA</a>) fell 22% to $0.5352 following quarterly results.</li>
<li>FREYR Battery (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frey#NYSE">FREY</a>) declined 21.3% to $2.6350 after reporting quarterly earnings.</li>
<li>GoodRx Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdrx#NASDAQ">GDRX</a>) fell 16% to $4.5597 following third-quarter results.</li>
<li>Royalty Management Holding Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rmco#NASDAQ">RMCO</a>) dipped 16% to $6.79.</li>
<li>Topgolf Callaway Brands Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/modg#NYSE">MODG</a>) fell 15.9% to $10.47 after the company reported mixed third-quarter financial results.</li>
<li>Cipher Mining Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cifr#NASDAQ">CIFR</a>) declined 15.4% to $3.02. Bitfury Group announced sale of 10 million shares of Cipher Mining common stock at a price of $2.95 per share and lock-up agreement for remaining holding.</li>
<li>BILL Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bill#NYSE">BILL</a>) shares fell 14.8% to $52.94. Bill Holdings is in advanced talks to acquire Melio Payments, Bloomberg reported, citing people with knowledge of the matter.</li>
<li>Phibro Animal Health Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pahc#NASDAQ">PAHC</a>) dipped 14% to $10.35 following weak results.</li>
<li>Genpact Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/g#NYSE">G</a>) dropped 13.8% to $29.93 following weak sales.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) fell 13.8% to $8.69 after the company reported quarterly financial results and announced a $350 million at-the-market offering.</li>
<li>Luminar Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lazr#NASDAQ">LAZR</a>) shares declined 13.2% to $3.1938 after the company reported mixed third-quarter financial results.</li>
<li>AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) declined 12.4% to $13.44 after the company reported worse-than-expected third-quarter financial results.</li>
<li>Ginkgo Bioworks Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dna#NYSE">DNA</a>) shares fell 12% to $1.3116 following a wider-than-expected quarterly loss.</li>
<li>Instacart (Maplebear Inc.) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) fell 11.1% to $24.21 following third-quarter results.</li>
<li>HeartCore Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/htcr#NASDAQ">HTCR</a>) shares fell 11% to $0.4724 after declining 7% on Wednesday.</li>
<li>Krispy Kreme, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnut#NASDAQ">DNUT</a>) declined 8.9% to $12.24 following weak results.</li>
<li>Myriad Genetics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mygn#NASDAQ">MYGN</a>) shares declined 6.4% to $16.73 after announcing pricing of upsized offering of common stock.</li>
<li>Arm Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arm#NASDAQ">ARM</a>) fell 6.2% to $51.02 after the company reported second-quarter financial results and issued guidance.</li>
<li>Revance Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvnc#NASDAQ">RVNC</a>) shares declined 5% to $7.92 after posting weak quarterly sales.</li>
<li>CCC Intelligent Solutions Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cccs#NASDAQ">CCCS</a>) shares declined 4.1% to $11.21. CCC Intelligent Solutions priced secondary offering of 65 million shares at $10.50 per share.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35701311/ethereum-surpasses-1-900-following-jobless-claims-data-huobi-token-emerges-as-top-gainer"> Ethereum Surpasses $1,900 Following Jobless Claims Data; Huobi Token Emerges As Top Gainer</a>

Why AMC Entertainment Shares Are Trading Lower By Around 14%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

WIIM

Calumet Speciality Products shares are trading higher after the company reported a year-over-year increase in Q3 EPS results and better-than-expected revenue results.

Calumet Specialty Products Partners LP&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clmt#NASDAQ">CLMT</a>) reported a&nbsp;third-quarter FY23&nbsp;sales decline of 1.3% year-over-year to $1.15 billion, beating the <a href="http://calumetspecialty.investorroom.com/2023-11-09-Calumet-Specialty-Products-Partners,-L-P-Reports-Third-Quarter-2023-Results">consensus of $1.04 billion</a>.
CLMT reported net income per unit of $1.26, beating the consensus of 26 cents.
Adjusted EBITDA was $75.5 million compared to $127 million a year ago, margin contracted to 6.6% from 10.9% in 3Q22.
The Q3 was driven by a supportive market and strong commercial execution, partially offset by transient operational issues in Shreveport and Montana MRL hydrogen steam drum replacement installed.
Specialty Products and Solutions&#39; adjusted EBITDA was $38.7 million, compared to $131.7 million a year ago. Segment production volume was limited largely due to an operational issue with a specialty production unit in Shreveport, which has since been repaired.&nbsp;
Performance Brands&#39; adjusted EBITDA rose to $13.2 million from $8.5 million in the prior year, reflecting improved industrial volumes and increased unit margins across the board as input costs have stabilized.
Montana/Renewables&#39; adjusted EBITDA improved to $38.6 million from $11.3 million a year ago.
Cash and equivalents stood at $13.7 million at the end of the quarter.
Total facility production in Q3 increased by 10% Y/Y to 82,343 bpd.
&quot;Unfortunately, we experienced transient operational issues at our Shreveport and Montana Renewables facilities. As we previously announced, we discovered a crack in the steam drum within our newly constructed renewable hydrogen plant that required replacement,&quot; CEO Todd Borgmann said.
&quot;At Shreveport, plugging of our catalytic dewaxing unit resulted in the loss of approximately 300,000 barrels of specialty production during the quarter. The unit was fully repaired, and our Shreveport plant is back to normal production levels,&quot; stated Borgmann.
These &quot;one-time events&quot; cost the company over $50 million of lost profit opportunity during the quarter, Borgmann added.
Price Action:&nbsp;CLMT shares are trading higher by 18.15% at $15.36 premarket on Thursday.

Calumet Sees Q3 Profits Soar Despite Shreveport And Montana Issues, Shares Rally

U.S. stocks traded mostly lower, with the Dow Jones falling around 75 points on Thursday. Here are some big stocks recording gains in today&rsquo;s session.
<ul>
<li>Virgin Galactic Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>) shares jumped 27.5% to $1.99 after the company reported better-than-expected third-quarter financial results.</li>
<li>Affirm Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afrm#NASDAQ">AFRM</a>) shares jumped 22.7% to $26.70 after the company reported better-than-expected first-quarter financial results and issued guidance.</li>
<li>Infinera Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infn#NASDAQ">INFN</a>) surged 22.6% to $4.06 following preliminary third-quarter results..</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) jumped 22% to $10.43 on the heels of the company&#39;s quarterly results.</li>
<li>SomaLogic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slgc#NASDAQ">SLGC</a>) climbed 21.3% to $2.4750 following strong quarterly results.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares gained 20.4% to $14.57 after the company reported better-than-expected third-quarter financial results.</li>
<li>LiveRamp Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ramp#NYSE">RAMP</a>) shares gained 19.4% to $35.83 after the company posted upbeat second-quarter results and issued strong sales forecast.</li>
<li>Braskem S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bak#NYSE">BAK</a>) shares climbed 17.8% to $8.28 after Valor Economico Reported that Abu Dhabi&#39;s Adnoc Made a new offer to acquire a stake in the Brazilian petrochemical producer. Braskem also reported results for the third quarter.</li>
<li>Calumet Specialty Products Partners, L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clmt#NASDAQ">CLMT</a>) shares gained 16.3% to $15.12 following third-quarter results.</li>
<li>Seritage Growth Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/srg#NYSE">SRG</a>) rose 16.3% to $8.65 following third-quarter results.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) shares gained 16.1% to $11.94.</li>
<li>Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>) rose 16% to $194.10 after the company reported better-than-expected -quarter sales results and raised full year guidance.</li>
<li>Bloom Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/be#NYSE">BE</a>) climbed 15.4% to $11.57 after the company reported better-than-expected third-quarter financial results.</li>
<li>Vertex, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verx#NASDAQ">VERX</a>) rose 15.2% to $25.80 following upbeat results.</li>
<li>Viasat, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vsat#NASDAQ">VSAT</a>) rose 15.2% to $20.44 after the company reported better-than-expected second-quarter financial results.</li>
<li>Natera, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntra#NASDAQ">NTRA</a>) climbed 14.6% to $47.40 following strong sales.</li>
<li>Jackson Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jxn#NYSE">JXN</a>) surged 14.4% to $44.55 following strong earnings.</li>
<li>Prospect Capital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psec#NASDAQ">PSEC</a>) gained 12.6% to $5.95 following upbeat sales.</li>
<li>Amphastar Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amph#NASDAQ">AMPH</a>) rose 12.1% to $50.92 following upbeat results.</li>
<li>Carrols Restaurant Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tast#NASDAQ">TAST</a>) surged 10.8% to $6.90 after the company reported better-than-expected third-quarter financial results.</li>
<li>MicroStrategy Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) climbed 10.4% to $523.60.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) rose 9.4% to $96.66.</li>
<li>TransDigm Group Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdg#NYSE">TDG</a>) gained 9.2% to $977.69 after the company reported better-than-expected fourth-quarter financial results and issued FY24 sales guidance above estimates.</li>
<li>Paycor HCM, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pycr#NASDAQ">PYCR</a>) climbed 8.4% to $19.36 after the company reported better-than-expected first-quarter financial results and issued guidance.</li>
<li>ACI Worldwide, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aciw#NASDAQ">ACIW</a>) surged 7.5% to $26.28. ACI Worldwide will replace NextGen Healthcare in the S&amp;P SmallCap 600 effective prior to the opening of trading on Nov. 13.</li>
<li>The Walt Disney Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) shares gained 6.2% to $89.74 after the company reported better-than-expected quarterly adjusted EPS results.</li>
<li>Tapestry, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpr#NYSE">TPR</a>) rose 6.2% to $29.17 following upbeat earnings.</li>
<li>Twilio Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twlo#NYSE">TWLO</a>) gained 4.9% to $58.54 after the company reported better-than-expected quarterly financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35701311/ethereum-surpasses-1-900-following-jobless-claims-data-huobi-token-emerges-as-top-gainer"> Ethereum Surpasses $1,900 Following Jobless Claims Data; Huobi Token Emerges As Top Gainer</a>

ACIW

AMPH

COIN

DUOL

MSTR

NTRA

PSEC

PYCR

TWLO

VERX

VSAT

Disney, Twilio, TransDigm, Marathon Digital And Other Big Stocks Moving Higher On Thursday

Earnings Beats

Calumet Specialty Products Q3 2023 EPS $1.26 Up From $0.19 YoY, Revenue $1.149B Beats $984.263M Estimate

Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is set to give its latest quarterly earnings report on Thursday, 2023-11-09. Here's what investors need to know before the announcement.
Analysts estimate that Calumet Specialty Prods will report an earnings per share (EPS) of $0.26. 
Calumet Specialty Prods bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.16, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Calumet Specialty Prods's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.07</td>
<td>0.07</td>
<td>0</td>
<td>0.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.23</td>
<td>0.35</td>
<td>-0.86</td>
<td>0.19</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.81%</td>
<td>8.8%</td>
<td>8.12%</td>
<td>0.66%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1699455725_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Calumet Specialty Prods were trading at $13.345 as of November 07. Over the last 52-week period, shares are down 26.53%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/CLMT/earnings">To track all earnings releases for Calumet Specialty Prods visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Calumet Specialty Prods

A whale with a lot of money to spend has taken a noticeably bearish stance on Calumet Specialty Prods.
Looking at options history for Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $142,100 and 7, calls, for a total amount of $263,030.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $27.0 for Calumet Specialty Prods over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Calumet Specialty Prods's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Calumet Specialty Prods's whale trades within a strike price range from $5.0 to $27.0 in the last 30 days. 
<h3>Calumet Specialty Prods Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1698342370_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLMT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$27.00</td>
<td>$70.0K</td>
<td>150</td>
<td>75</td>
</tr>
<tr>
<td>CLMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$60.0K</td>
<td>1.4K</td>
<td>243</td>
</tr>
<tr>
<td>CLMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.00</td>
<td>$40.5K</td>
<td>281</td>
<td>90</td>
</tr>
<tr>
<td>CLMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.00</td>
<td>$40.3K</td>
<td>281</td>
<td>260</td>
</tr>
<tr>
<td>CLMT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/19/24</td>
<td>$10.00</td>
<td>$40.1K</td>
<td>1.5K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>Where Is Calumet Specialty Prods Standing Right Now?</h3>
<ul>
<li>With a volume of 1,173,705, the price of CLMT is up 10.87% at $16.42. </li>
<li>RSI indicators hint that the underlying stock may be oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Calumet Specialty Prods, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Calumet Specialty Prods Unusual Options Activity For October 26

Calumet Specialty Products Partners, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) (the "Partnership," "Calumet," "Company," "we," "our" or "us"), today announced that Montana Renewables LLC ("MRL") has entered into a Supply and Offtake Agreement ("S&amp;O Agreement") with Wells Fargo.&nbsp; This Agreement replaces MRL's previous inventory financing agreement with Macquarie.&nbsp; The S&amp;O Agreement streamlines the administration of MRL's inventory financing process, provides increased inventory advance rates, and has a three-year term.
Further information related to the agreement can be found on Form 8-K filed with the U.S. Securities and Exchange Commission.

Contracts

Calumet Announces New Inventory Financing Agreement For Montana Renewables

There's a lot to be optimistic about in the Energy sector as 2 analysts just weighed in on TC Energy (TRP – Research Report) and Calumet Specialty ...

Analysts Offer Insights on Energy Companies: TC Energy (TRP) and Calumet Specialty Products (CLMT)

Calumet Specialty Products (CLMT) just unveiled an update. Calumet Specialty Products Partners, L.P. and Calumet Finance Corp. have successfully is...

Calumet Specialty Products' Strategic Debt Restructuring Moves

Calumet Specialty Products: Huge Increases In Cash Flows May Be Imminent [Downgrade]

Calumet Specialty Products: A First Mover Among The Fuels Of The Future

AMTX, CLMT major energy gainers; CRT, EURN among major losers

These Energy stocks are trading higher:-Aemetis Inc (AMTX) stock is trading at $3.43, an increase of $0.36, or 11.83%, on average volume.  Aemetis Inc gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $10.30.  -Calumet Specialty Prod

Energy Stocks Moving Wednesday: AMTX, CLMT, GLP, AMPY, ALVOF, CRT, EURN, HNRG

Rare Stock Picks In March 2024 - From 24 Discerning Analysts

An announcement from Calumet Specialty Products (CLMT) is now available. Ryan A. Willman will resign as the Chief Accounting Officer of Calumet Spe...

Calumet Specialty Products Announces Executive Financial Shift

There's a lot to be optimistic about in the Energy sector as 3 analysts just weighed in on Permian Resources (PR – Research Report), Peninsula Ener...

Analysts Offer Insights on Energy Companies: Permian Resources (PR), Peninsula Energy Limited (OtherPENMF) and Calumet Specialty Products (CLMT)

Amit Dayal, an analyst from H.C. Wainwright, maintained the Buy rating on Calumet Specialty Products (CLMT – Research Report). The associated price...

Optimistic Outlook for Calumet Specialty Products with Strategic Advancements and Strong Financial Projections

ALVOF

AMPY

AMTX

CMLS

CUBA

CURI

EGAN

EURN

FLTLF

FTNT

HIMS

HNRG

PACB

PENMF

PENN

PPSI

PTMN

RACE

SNAP

VLKPF

Legal

Press Releases

CALUMET ALERT: Bragar Eagel & Squire, P.C. is Investigating Calumet Specialty Products Partners, L.P. on Behalf of Calumet Stockholders and Encourages Investors to Contact the Firm