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June 10, 2014
08:09 EDTREPYY, HL, SLCA, CDE, AEM, TKPPY, SLWMorgan Stanley to hold a conference
Global Natural Resources Conference to be held in Barcelona, Spain on June 9-10.
News For AEM;SLCA;SLW;CDE;HL;TKPPY;REPYY From The Last 14 Days
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December 15, 2014
16:36 EDTTKPPYOn The Fly: Closing Wrap
The Dow began the session with triple digit gains, but the move was short lived and so was the positive start for the equities market, which tumbled with oil prices and struggled for the remainder of the session. The day’s economic reports, which included the Empire Manufacturing report, industrial production and capacity utilization reports, and the NAHB housing market index, had little effect on the market. Stocks recovered a bit but did not get back into the green before the close, with investors wondering how the Fed, which begins its final FOMC meeting of the year tomorrow, will view its strategy in light of the recent weakness in oil. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index fell to -3.6 in December, which was significantly worse than the expectation for it to rise to 12.4 from its prior 10.2 reading. Industrial production jumped 1.3% in November, which was better than the expected 0.7% increase. The NAHB homebuilder sentiment index fell one point to 57 in December, versus expectations for a one point rise to a 59 reading. Near noon, WTI crude was down more than 2% and was trading below $57 per barrel. COMPANY NEWS: Riverbed Technology (RVBD) rose $1.57, or 8.38%, to $20.31 after the company agreed to be acquired by private equity investment firm Thoma Bravo and the private investor department of Ontario Teachers’ Pension Plan. Riverbed stockholders will receive $21 per share in cash, or a total of approximately $3.6B, which Wells Fargo views as a "good decision" and good deal for the company given the challenges in its business... PetSmart (PETM) advanced $3.30, or 4.25%, to $80.97 after the company agreed to be acquired by a consortium led by BC Partners at a price of $83.00 per share in cash. However, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, Leonard Green & Partners and TPG, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. MAJOR MOVERS: Among the notable gainers was Sorrento Therapeutics (SRNE), which advanced $1.50, or 25.86%, to $7.30 after the company announced that it has entered into a binding agreement with NantWorks founder Dr. Patrick Soon-Shiong to establish a strategic collaboration to jointly develop next generation immunotherapies for the treatment of cancer and auto-immune diseases. Also higher was Cirrus Logic (CRUS), which rallied $4.12, or 21.87%, to $22.96 after Barclays upgraded the stock two notches to Overweight from Underweight and said the company is poised to make significantly more money per each iPhone sold next year. Among the noteworthy losers was CGG SA (CGG), which was downgraded to Underperform at Raymond James and dropped $2.41, or 28.29%, to $6.11 after Technip (TKPPY) said that it does not plan to file a tender for the company after talks between the companies did not result in a deal. Also lower were shares of Habit Restaurants (HABT), which fell $7.20, or 17.19%, to $34.69 as analysts rolled out coverage of the stock following its IPO about a month ago. Amid the coverage initiations, Habit Restaurants shares were initiated with a Neutral and $41 price target at RW Baird, with a Market Perform rating at Wells Fargo, with an Equal Weight at Stephens and with an Overweight rating and $48 target at Piper Jaffray. INDEXES: The Dow fell 99.99, or 0.58%, to 17,180.84, the Nasdaq dropped 48.44, or 1.04%, to 4,605.16, and the S&P 500 declined 12.70, or 0.63%, to 1,989.63.
12:37 EDTTKPPYOn The Fly: Midday Wrap
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11:43 EDTREPYYTalisman Energy confirms discussions with Repsol on potential transaction
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10:57 EDTREPYYRepsol to submit for consideration of board possible transaction with Tailsman
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09:37 EDTREPYYTalisman Energy bid being weighed by Canada Pension Board, Bloomberg says
Canada Pension Plan Investment Board, which initially considered buying parts of Talisman Energy (TLM), is now also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. The pension board may be competing with Spain's Repsol (REPYY), which is reportedly in talks to make a bid to buy Talisman, as previously reported. Talisman shares in New York are up about 20% in early trading. Reference Link
09:09 EDTREPYYTalisman Energy bid being weighed by Canada Pension, Bloomberg says
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08:48 EDTREPYYTalisman Energy confirms talks with Repsol
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05:25 EDTTKPPYTechnip plans to acquire Zimmer polymer technology business
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December 14, 2014
15:04 EDTTKPPYTechnip ends plans to acquire CGG after talks on deal disappoint
Technip said in a press release: "On November 10 Technip (TKPPY) approached CGG's (CGG) board of directors with a view to making an offer on CGG and sought to engage in a constructive dialogue with CGG to review this project. Further to press leaks, Technip set out the main elements of its industrial project in a press release on November 20. Following CGG’s reaction to this approach, Technip put forward a number of alternative options to a tender offer, taking care as always to consider the social, strategic and financial aspects in each case. However, the discussions of these options did not result in any form of agreement. Under these circumstances, Technip informs the market that it does not intend to file a tender offer for CGG."
December 12, 2014
16:19 EDTREPYYOn The Fly: Closing Wrap
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13:04 EDTREPYYOn The Fly: Midday Wrap
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09:16 EDTREPYYRepsol in talks to buy Talisman Energy for $6-$8 per share, FT says
Spain's Repsol (REPYY) is in talks to acquire Canada's Talisman Energy (TLM) and is currently negotiating a purchase price in a range between $6 and $8 per share, said Financial Times. Such a the deal would give Talisman an enterprise value of about $10B-$12B, including debt, the report added. The Fly notes that an earlier foreign-language report from the business newspaper Expansion said that Repsol was preparing to make a bid for Talisman that values the Canadian company at around EUR 4B, or about C$6 per share. Shares of Talisman trading in New York are up 25% to $4.60 with about 15 minutes to go until the opening bell. Reference Link
08:26 EDTREPYYTalisman rises after report of Repsol mulling C$6 per share bid
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December 11, 2014
12:43 EDTTKPPYFrench government reporedtly scrutinizing potential CGG deal, Reuters says
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December 10, 2014
11:33 EDTSLWSilver Wheaton downgraded to Hold from Buy at Standpoint Research
December 9, 2014
10:23 EDTSLCAOn The Fly: Analyst Initiation Summary
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08:37 EDTSLCAU.S. Silica initiated with a Buy at Ladenburg
Target $67.
December 8, 2014
15:38 EDTREPYYRepsol revives deal talks with Talisman Energy, Bloomberg reports
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15:23 EDTREPYYTalisman halted for circuit-breaker after report of Repsol talks being renewed
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15:21 EDTREPYYRepsol revives talks with Talisman Energy, Bloomberg reports
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