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Stock Market & Financial Investment News

News Breaks
August 13, 2014
10:01 EDTFCEL, ABY, ESS, REED, DWREOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abengoa Yield (ABY) upgraded to Overweight from Equal Weight at Morgan Stanley... Demandware (DWRE) upgraded to Buy from Neutral at Goldman... Essex Property Trust (ESS) at RBC Capital... Ford (F) upgraded at Stifel... FuelCell (FCEL) upgraded to Outperform from Market Perform at Cowen... Reed's (REED) upgraded to Buy from Neutral at Sidoti.
News For ABY;DWRE;ESS;FCEL;REED From The Last 14 Days
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May 21, 2015
09:24 EDTESSEssex Property Trust 250K share Secondary priced at $222.65
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May 20, 2015
17:03 EDTESSEssex Property Trust files to sell 250,000 shares of common stock
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09:14 EDTDWREJefferies software analysts hold an analyst/industry conference call
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May 19, 2015
10:48 EDTESSCredit Suisse to hold property tours
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05:28 EDTABYAbengoa Yield appoints Javier Garoz as CEO
Abengoa Yield (ABY) announced that its board accepted the resignation as CEO of Santiago Seage due to his appointment as CEO of Abengoa (ABGB), at the meeting held on May 18. During that meeting, the board unanimously approved the appointment of Javier Garoz as the new CEO with immediate effect. Javier Garoz was until now CEO of Abengoa Bioenergy and is a director of Abengoa Yield.
05:26 EDTABYAbengoa appoints Santiago Seage as CEO
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May 18, 2015
13:24 EDTDWREDemandware management to meet with Stephens
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May 14, 2015
08:50 EDTESSBofA/Merrill U.S. REITs analyst holds an analyst/industry conference call
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May 13, 2015
08:54 EDTABYAbengoa Yield price target raised to $48 from $44 at RBC Capital
RBC Capital increased its price target on Abengoa Yield as the firm thinks the company has implemented the correct strategy since 4Q14. The firm believes the company is undervalued, given its best-in-class contract length and broad ROFO opportunity. It keeps an Outperform rating on the shares.
May 12, 2015
07:46 EDTABYAbengoa Yield price target raised to $46 from $40 at Canaccord
Canaccord raised its price target to $46 from $40 on Abengoa Yield and said shares remain undervalued given its above average ROFO pipeline, simple corporate structure, and focus on optimization of dividends. Canaccord reiterated its Buy rating on Abengoa Yield shares.
May 11, 2015
16:19 EDTREEDReed's appoints Daniel Miles as CFO
Reed's announced the appointment of Daniel Miles to the role of CFO and Mark Costa to the role of director of operations. Costa's role is a newly created position and will report directly to COO Mark Beaton. Recently Dan held the position of interim CFO for the Port of Long Beach and worked for the Central Basin Municipal Water District where he led the production of both the annual budget and the reporting of the results of those enterprises. Dan Miles will begin serving in the role of CFO on Tuesday May 12. Larry Tomsic will remain with the company through the end of May to assist with the transition of Dan Miles into his new role.
16:15 EDTREEDReed's reports Q1 EPS (2c), consensus (2c)
Reports Q1 revenue $10.67M, consensus $10.5M.
08:38 EDTABYAbengoa Yield announces 450 MW acquisition From Abengoa
Abengoa Yield (ABY) has reached an agreement with Abengoa (ABGB) to acquire four solar assets consisting of: the Helios 100 MW complex, the Solnovas 150 MW complex and the remaining 70 % stake in Helioenergy 100 MW complex, of which Abengoa Yield already owns a 30% stake, all in Spain. Abengoa Yield also agreed to acquire a 51 % stake in Kaxu, a 100 MW plant in South Africa. Abengoa Yield expects these new assets to generate incremental run rate cash available for distribution of approximately $63M per year before debt service associated with acquisition financing. This represents a 9.4% acquisition yield. The acquisition includes the exercise of the 12% call option signed with Abengoa in December 2014.
08:35 EDTABYAbengoa Yield raises 2016 dividend per share guidance to $2.10-$2.15
Santiago Seage, CEO of Abengoa Yield, commented "Our largest acquisition of assets from Abengoa will double our existing installed capacity in renewable energy, while maintaining very good quality in our portfolio, with a best-in-class average remaining useful life of 23 years and all our CAFD generated from contracted or regulated assets with high quality off-takers. As a result, we are pleased to raise our guidance for the year 2016, in which we expect to distribute a dividend in the range of $2.10-$2.15 per share, an increase of up to 9 % with respect to our previous guidance. With this, we would provide a dividend per share growth of 30%-34% in 2016 vs 2015." In addition, considering Abengoa's current portfolio of assets in operation and construction, which are expected to generate cash available for distribution in the range of $310M-$360M, and future potential opportunities, the company expects to deliver a yearly dividend per share growth in the range of 12%-15%. This means that mid-term dividend growth per share from its 2015 IPO target of $1.36 would be higher than 20% per year.
08:33 EDTABYAbengoa Yield increases dividend to 34c per share
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08:32 EDTABYAbengoa Yield reports Q1 adjusted EBITDA up 106% to $105.2M
Reports Q1 revenue $118.3M, consensus $140.9M. Cash Available for Distribution reached $38.5M, more than one quarter of the 2015 CAFD guidance in spite of seasonality, the company noted.

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