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Stock Market & Financial Investment News

News Breaks
March 19, 2013
19:12 EDTMXWL, CTAS, PRMW, APC, FRAN, FTEK, EAC, WSM, CIE, GEVO, ADBEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Adobe (ADBE), up 5.8%... Williams-Sonoma (WSM), up 6.3% after earnings, boosting dividend 41%, announcing $750M share repurchase program... Francesca's (FRAN), up 3.8%... ALSO HIGHER: Gevo (GEVO), up 7.8% after a favorable ruling in a patent infringement lawsuit brought against the company... Erickson Air-Crane (EAC), up 14.8% after acquiring Evergreen Helicopters for $250M... Anadarko (APC), up 1.2%, and Cobalt (CIE), up 4.7%, after announcing a co-owned Gulf of Mexico well encountered oil... DOWN AFTER EARNINGS: Fuel Tech (FTEK), down 8.9%... Primo Water (PRMW), down 4.8%... Cintas (CTAS), down 2.6%... ALSO LOWER: Maxwell Technologies (MXWL), down 5% after filing to delay its Form 10-K.
News For ADBE;WSM;FRAN;GEVO;EAC;APC;CIE;FTEK;PRMW;CTAS;MXWL From The Last 14 Days
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March 3, 2015
16:03 EDTAPCWestern Gas Partners acquires Anadarko's 50% inerest in joint venture
Western Gas Partners (WES) announced that it has acquired Anadarko's (APC) 50% interest in the Delaware Basin JV gathering system. The Partnership paid no consideration at closing, but agreed to make a future payment on March 31, 2020 equal to eight times the average of the asset's 2018 and 2019 earnings before interest, taxes, depreciation and amortization, less the capital expenditures incurred by WES from the closing date through February 29, 2020. Based on its current forecast of the asset's performance and capital needs, the Partnership currently estimates the future payment will be $283M. "This immediately accretive acquisition is another step towards the consolidation of our significant Delaware Basin position," said CEO Don Sinclair. "We will benefit from the asset's strategic position, the world-class resources in the Delaware Basin, and the addition of a 100% fee-based asset into our portfolio. Furthermore, the flexible financing structure assists us in maintaining our growth targets in a challenging environment." In conjunction with the acquisition, Anadarko has amended its existing gathering agreement with DBJV to extend the term to December 31, 2024. Gathering rates are determined using a cost-of-service methodology under which DBJV earns a targeted rate of return of 18% over the life of the agreement. The Partnership estimates that the net present value of the purchase price payment is $176M and that the asset will generate $15 to $25M of EBITDA in 2015. The terms of the acquisition were approved by the board of directors of the Partnership's general partner and by the board's special committee, which is comprised entirely of independent directors.
10:44 EDTAPCAnadarko reduces initial FY15 capital expectations by 33% y/y
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10:22 EDTFRANGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
08:53 EDTAPCAnadarko sees FY15 oil sales volume up 5%
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08:01 EDTEACErickson CEO Udo Rieder to retire
Erickson announced that its President and CEO Udo Rieder informed the board of directors of his desire to retire from the company, including his role as an Erickson board member, effective March 31. The board of directors has appointed Jeff Roberts as new President and CEO of Erickson effective April 1.
05:57 EDTFRANPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
March 2, 2015
15:39 EDTAPCAnadarko seeks buyer for East Texas assets, SparkSpread says
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09:14 EDTADBEApple, Google employees asking for $415M poaching settlement, Reuters says
Silicon Valley workers alleging that Apple (APPL), Google (GOOG), Intel (INTC), and Adobe (ADBE) colluded to limit poaching will attempt on Monday to win court approval for a $415M claim, reports Reuters. A judge had rejected the previous settlement offer of $324.5M as too low, saying the settlement would need to reach at least $380M. Reference Link
February 27, 2015
10:32 EDTCIEOptions with decreasing implied volatility
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10:04 EDTMXWLHigh option volume stocks
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February 26, 2015
09:25 EDTAPCAnadarko to host conference call
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February 25, 2015
16:23 EDTEACErickson sees FY15 revenue $330M-$350M, consensus $351.2M
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16:21 EDTEACErickson reports Q4 adjusted EPS (16c), consensus (7c)
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February 24, 2015
08:20 EDTAPCEnterprise, Anadarko, DCP, MarkWest form joint venture for Panola
Enterprise Products Partners (EPD), Anadarko Petroleum (APC), DCP Midstream Partners (DPM) and MarkWest Energy Partners (MWE) announced the formation of a joint venture under which Enterprise will assign 45% ownership interest in its wholly owned Panola Pipeline Company. The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Company, DCP Midstream Partners and MarkWest. Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest. The Panola Pipeline, which transports natural gas liquids, originates in Carthage, Texas and extends 181 miles to Mont Belvieu, Texas. Incremental capacity is expected to be available in 1Q16. This corrects the symbol for Enterprise Products Partners.
February 23, 2015
08:00 EDTADBEAdobe shares recommended at Rosenblatt
Rosenblatt believes Adobe continues to execute and will report Q1 earnings and revenues slightly ahead of consensus estimates of 40c/1.09B and for new sub adds and Marketing Cloud billing to be above expectations.
07:16 EDTCIECobalt provides operations update, says drilling on schedule in Gulf of Mexico
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07:12 EDTCIECobalt sees FY15 CapEx, operating expenditures roughly flat at $800M-$900M
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07:10 EDTCIECobalt reports Q4 EPS (53c), consensus (25c)
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February 20, 2015
10:46 EDTWSMWest Coast dockworkers have not reached labor deal, CNBC reports
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10:11 EDTWSMWest Coast dockworkers reported to strike labor deal, CNBC says
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