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Stock Market & Financial Investment News

News Breaks
February 21, 2014
10:00 EDTHAWK, XTXI, PDCE, SIG, SCBT, PAAS, XEC, STX, THI, AGI, TOT, SDRL, EMCI, AEG, REXX, COMM, EVEP, BASOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AEGON (AEG) upgraded to Strong Buy from Outperform at Raymond James... Basic Energy (BAS) upgraded to Market Perform from Underperform at Raymond James... CommScope (COMM) upgraded to Buy from Hold at Jefferies... EMC Insurance (EMCI) upgraded to Outperform from Market Perform at Keefe Bruyette... EV Energy (EVEP) upgraded to Buy from Hold at Wunderlich... Rex Energy (REXX) upgraded to Accumulate from Neutral at Global Hunter... Seadrill (SDRL) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded to Outperform from Sector Perform at RBC Capital... Signet Jewelers (SIG) upgraded to Buy from Neutral at Sterne Agee... Total (TOT) upgraded to Neutral from Sell at Goldman... Cimarex Energy (XEC) upgraded to Outperform from Sector Perform at Howard Weil... PDC Energy (PDCE) upgraded to Buy from Neutral at Global Hunter... Alamos Gold (AGI) upgraded to Buy from Hold at TD Securities... Pan American Silver (PAAS) upgraded to Buy from Hold at TD Securities... Crosstex Energy (XTXI) upgraded to Buy from Hold at Wunderlich... Tim Hortons (THI) upgraded to Outperform from Market Perform at Raymond James... First Financial (SCBT) upgraded to Buy from Hold at BB&T... Blackhawk (HAWK) upgraded to Neutral from Underperform at Wedbush.
News For AEG;BAS;COMM;EMCI;EVEP;REXX;SDRL;STX;SIG;TOT;XEC;PDCE;AGI;PAAS;XTXI;THI;SCBT;HAWK From The Last 14 Days
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March 18, 2015
16:21 EDTPDCEPDC Energy files to sell 3.48M shares of common stock
Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as the sole underwriters of the offering.
16:16 EDTPDCEPDC Energy files automatic mixed securities shelf
March 17, 2015
10:00 EDTREXXOn The Fly: Analyst Downgrade Summary
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09:14 EDTREXXRex Energy downgraded to Neutral from Buy at Global Hunter
08:06 EDTSTXSeagate decline overdone, says RBC Capital
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March 16, 2015
11:11 EDTTOTOPEC sees oil prices to hit U.S. oil output by late 2015, Reuters says
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10:02 EDTSTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
08:18 EDTSTXSeagate upgraded at Needham
As noted earlier, Needham upgraded Seagate to Strong Buy from Buy. Needham believes that improvements in Seagate's cloud and enterprise businesses have offset weak PC demand and negative currency fluctuations. The firm expects the company to report in-line or better than expected EPS. Target remains $65.
08:03 EDTSTXSeagate announces three-year partnership with CERN
Seagate Technology announced it has entered into a three-year partnership with CERN openlab to collaborate on the development of the Seagate Kinetic Open Storage platform. The partnership aims to help CERN, the European Organization for Nuclear Research, to better manage and store the 100 petabytes of data the Large Hadron Collider has generated to date, as well as the additional 2-3 petabytes of information it produces on a monthly basis. A second, future research project between Seagate and CERN will look at CERNís EOS storage system to determine whether there are opportunities to enhance and improve the system.
07:29 EDTREXXRex Energy provides operational update
Rex Energy provided an operational update on the company's Appalachian Basin operations. During Q1, the company placed the four-well Powell pad into sales. The four-well Powell pad was drilled with an average lateral length of 5,500 feet and completed with an average sand concentration of approximately 2,300 pounds per foot. The four-well Powell pad produced at an average 5-day sales rate per well of approximately 9.3 MMcfe/d. The company has also placed the two-well Hamilton pad into sales. The two wells on the pad were drilled with an average lateral length of approximately 4,700 feet and completed with an average sand concentration of approximately 2,300 pounds per foot. The two-well Hamilton pad produced at an average 5-day sales rate per well of approximately 7.8 MMcfe/d. The company has released its second rig in the Appalachian Basin and expects to run a one-rig program through the remainder of 2015. In the Moraine East Area, the company has completed drilling the final well of the four-well Renick pad. The four wells on the pad were drilled to an average lateral length of approximately 5,820 feet. The company expects to begin completion operations on the four-well Renick pad at the end of March 2015. As previously announced, the company's Q1 production had been constrained, in part because of involuntary production curtailments in the Warrior North Prospect due to downtime at the Blue Racer compressor station. The issue at the Blue Racer compressor station has been resolved and the company does not anticipate future production to be constrained in the Warrior North Prospect.
07:28 EDTSTXWestern Digital, Seagate estimates lowered on PC weakness at Jefferies
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07:11 EDTEMCINYSSA to hold a conference
19th Annual Insurance Conference is being held in New York on March 16-17.
06:18 EDTSTXSeagate upgraded to Strong Buy from Buy at Needham
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05:56 EDTTOTTotal looking to sell 20% stake in North Sea gasfield, Financial Times reports
Total is auctioning a stake in a North Sea gasfield, reports the Financial Times. The company is looking to sell a 20% stake in Laggan-Tormore, a deepwater project considered to be a prime asset in the energy group's portfolio. Total would continue to operate the field, with peak production expanded to be 500m cubic feet a day. Reference Link
March 13, 2015
16:11 EDTHAWKBlackhawk obtains new RAN patent
Blackhawk Network announced the issuance of U.S. Patent No. 8,973,820 on March 10, a patent that covers the DirectSpend RAN program and equivalent methods of filtering transactions. The patent is for a computer system and computer implemented method for determining whether a transaction is valid based on whether the merchant is a merchant selected under the client card program from all participating merchants. The latest patent adds to Blackhawk's other patents also applied to the DirectSpend program. This latest patent allows Blackhawk to authorize transactions based on a determination that the transaction request is from a merchant that is part of the client program, as well as deny transaction requests from merchants that are not part of the client program.
10:00 EDTPDCEOn The Fly: Analyst Initiation Summary
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08:44 EDTBASBasic Energy sees Q1 revenue down 32%-34%
Roe Patterson, Basic's president and CEO, stated, "The operating environment continues to be challenging and we are reacting quickly to our customers' requests for lower pricing for our services. Stimulation services pricing concessions have increased to 25%-30%, which is up from the 15%-20% range we experienced earlier in the first quarter. Pricing concessions for our other services remain consistent with what we reported in our January operating update. We continue to maximize utilization and protect market share with rate reductions when and where possible. We continue our efforts to reduce costs and scale down our operations to match customer activity. Negotiations to lower costs for sand, chemicals, fuel, supplies, etc. with our vendors and suppliers are ongoing, and we continue to make progress. Preserving liquidity is our main focus and our efforts to reduce capital spending have been successful. Our headcount is now down by 14% since its peak in November 2014 and we continue to adjust personnel costs to mitigate pricing concessions. Adverse weather has affected activity to date in March throughout our footprint. With the weather impact we experienced in February, and so far in March, combined with the increase in price concessions for stimulation services, we now expect first quarter revenue to be 32%-34% lower sequentially compared to our previous guidance of 21%-26% lower."
06:32 EDTTOTIEA says oil price pressure likely to resume, Reuters reports
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06:29 EDTTOTOil companies reach tentative agreement with union, WSJ says
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06:04 EDTBASBasic Energy reports Feb. well servicing rig count unchanged at 421
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