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Stock Market & Financial Investment News

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April 27, 2012
06:51 EDTCNX, FTI, APA, PCX, CAM, BTU, APC, CHK, AEPUtility executive: Utilities rapidly switching to natural gas, NY Times says
U.S. utilities are rapidly switching from coal to natural gas, the CEO of AEP (AEP), a major utility, told The New York Times. Reference Link
News For AEP;APA;CHK;CAM;FTI;APC;PCX;CNX;BTU From The Last 14 Days
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June 29, 2015
10:14 EDTAPCBP, Anadarko penalty appeals rejected by Supreme Court, Reuters reports
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10:09 EDTCHKOn The Fly: Analyst Upgrade Summary
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09:36 EDTAPCBP, Anadarko appeals on penalties rejected by Supreme Court, Reuters reports
The companies were rejected on appeals to avoid clean water act penalties related to the Deepwater Horizon spill, Reuters said.
06:45 EDTCHKChesapeake upgraded to Buy from Underperform at Sterne Agee CRT
Sterne Agee CRT upgraded Chesapeake (CHK) two notches to Buy from Underperform and increased its price target to $13 from $9. The firm said shares are now oversold and the "short" call is now crowded. Sterne Agee CRT said management is working to mitigate the near-term liquidity drain and is aggressively pursuing alternatives to keep pipeline counter-party Williams Companies (WMB) whole on its contract, which could reset shares higher. The firm said the focus should be on Chesapeake's absolute liquidity and raised estimates to reflect slightly improved NGL fundamentals. Sterne Agee CRT recommends trading oriented accounts cover shorts and go long as any catalyst may drive a short squeeze rally in shares.
June 26, 2015
12:58 EDTBTUOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with Nike's (NKE) post-earnings rise providing a boost to the Dow and Micron's (MU) slide dragging on the tech-heavy Nasdaq. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer sentiment reading rebounded to 96.1 in the final June report from the preliminary 94.6 reading. That revised figure topped the expected reading of 95. In Europe, the ECB left the level of emergency cash available to Greek banks unchanged again Friday as deposit outflows have slowed, according to people familiar with the matter reporting to Bloomberg. Greek leaders are scheduled to hold talks Saturday with the Eurogroup in what may be the nation's last chance for a deal ahead of the expiration of the current bailout agreement on June 30. In China, stocks plunged by the most in five months as the Shanghai Composite Index fell 7.4%, with market watchers citing margin worries and concerns that the PBOC will be less likely to undertake further rate cuts. COMPANY NEWS: Shares of Nike advanced 4% after the athletic apparel and sneaker maker reported fourth quarter results that handily beat expectations. Several firms raised their respective price targets on the stock following the company's Q4 report, including Goldman, which reiterated its Conviction Buy rating on Nike and raised its price target to $131 from $121. Finish Line (FINL), an athletic shoe and apparel retailer that sells Nike products, rose 5% after its own first quarter results also topped the consensus forecast. MAJOR MOVERS: Among the notable gainers was OPKO Health (OPK), which rose nearly 4% after the company announced the decision of the National Comprehensive Cancer Network to include 4Kscore as a recommended test in the 2015 NCCN Guidelines for Prostate Cancer Early Detection. Additionally, CEO Phillip Frost disclosed in regulatory filings that he'd acquired over 64,000 shares of the company stock in the last two days. Also higher was Kforce (KFRC), which gained 7% after SunTrust upgraded the stock to Buy and raised its price target to $27 from $24, noting that the firm's private IT staffing poll suggests margin assumptions may prove conservative. Among the noteworthy losers was Micron, which sunk about 19% after the flash memory maker reported weaker than expected results last night and provided lower than expected Q4 revenue guidance. Also lower were shares of coal miner Peabody (BTU), which fell 7% after Moody's downgraded the company's credit rating to reflect the firm's expectation for the deterioration in the company's credit metrics to be more precipitous than it had previously thought due to the ongoing decline in the seaborne metallurgical coal markets. INDEXES: Near midday, the Dow was up 53.70, or 0.3%, to 17,944.06, the Nasdaq was down 40.56, or 0.79%, to 5,071.62, and the S&P 500 was down 2.18, or 0.1%, to 2,100.13.
11:08 EDTBTU, CNXPeabody plunges after Moody's lowers credit rating
Shares of coal miner Peabody (BTU) are lower in late morning trading after Moody's Investors Service downgraded the company's credit rating last night. WHAT'S NEW: Moody's Investors Service downgraded the ratings of Peabody, including the corporate family rating, to B3 from B2, probability of default rating to B3-PD from B2-PD. The firm noted that the outlook is negative. Moody's said that the downgrade "reflects our expectation of continued deterioration in the company's credit metrics, more precipitous than we had forecasted previously, due to the ongoing decline in the seaborne metallurgical coal markets." The firm expects that the company's Debt/EBITDA, as adjusted, will approach 9x in 2015. Moody's said that although it anticipates some recovery in 2016, it sees the leverage remaining elevated at around 7x. Absent asset sales, the company will generate negative free cash flows in 2015 and 2016, Moody's said in the report. WHAT'S NOTABLE: Moody's said that a further downgrade would be considered if liquidity deteriorated, free cash flows were repeatedly negative and/or Debt/EBITDA exceeded 8x on a sustained basis. PRICE ACTION: Shares of Peabody are down over 9.5% to $2.08 in late morning trading, rebounding from an earlier low of $1.92. OTHERS TO WATCH: Other companies in the coal mining space include Alpha Natural Resources (ANR), Arch Coal (ACI) and CONSOL Energy (CNX).
07:31 EDTCAMOneSubsea awarded contract for supply of subsea trees for Shah Denix Two
OneSubsea, a Cameron (CAM) and Schlumberger (SLB) company, has been awarded a contract totaling more than $60M for the Shah Deniz Two development, operated by BP, offshore Azerbaijan. OneSubsea was awarded the initial contract for subsea trees for Shah Deniz Two in 2013. The scope of the new contract includes the supply of the second of three planned batches of subsea production trees and ancillaries. Deliveries are expected to commence 2016.
June 25, 2015
16:00 EDTCHKOptions Update; June 25, 2015
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15:48 EDTCHKChesapeake options active as share trend lower
Chesapeake July 11 and 12 puts are active on total put volume of 59K contracts (43K puts). July call option implied volatility is at 42, August is at 44; compared to its 52-week range of 23 to 68. Active put volume suggests traders taking positions for large price movement.
11:50 EDTAPCAnadarko, Jera in talks over Mozambique long-term gas import deal, Reuters says
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10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
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05:56 EDTCHKChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.
June 24, 2015
10:43 EDTCNXStocks with call strike movement; BBRY CNX
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June 23, 2015
18:00 EDTBTUS&P announces changes to the S&P 400, 500, 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: Columbia Pipeline Group (CPGX) will replace Allegheny Technologies (ATI) in the S&P 500, Allegheny Technologies will replace Unit Corp. (UNT) in the S&P MidCap 400, and Unit Corp. will replace PetroQuest Energy (PQ) in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. S&P 500 constituent NiSource (NI) is spinning off Columbia Pipeline Group in a transaction expected to be completed on that date. NiSource will remain in the S&P 500 following the distribution. Allegheny Technologies, Unit and PetroQuest are all ranked near or at the bottom of their current indices. S&P SmallCap 600 constituent Casey’s General Stores (CASY) will replace AOL (AOL) in the S&P MidCap 400, and Nektar Therapeutics (NKTR) will replace Casey’s General Stores in the S&P SmallCap 600 after the close of trading on Thursday, June 25. S&P 100 & 500 constituent Verizon (VZ) acquired AOL in a transaction completed today. TopBuild (BLD) will replace Aéropostale (ARO) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent Masco (MAS) is spinning off TopBuild in a transaction expected to be completed on that date. Masco will remain in the S&P 500 following the distribution. Aéropostale is ranked near the bottom of the S&P SmallCap 600. “New” Gannett Co. (GCI) will replace Quiksilver (ZQK) in the S&P SmallCap 600 after the close of trading on Friday, June 26. S&P 500 constituent Gannett Co. (GCI) is spinning off “new” Gannett Co. in a transaction expected to be completed on that date. Post spin, the parent company will change its name to TEGNA. and trade under the symbol “TGNA”. It will remain in the S&P 500 following the distribution. Quiksilver is ranked near the bottom of the S&P SmallCap 600. Cable ONE Inc. (CABO) will replace Peabody Energy (BTU) in the S&P MidCap 400 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Graham Holdings Company (GHC) is spinning off CableOne in a transaction expected to be completed on that date. Graham Holdings will remain in the S&P MidCap 400 following the distribution. Peabody Energy is ranked near the bottom of the S&P MidCap 400. The Chemours Co. (CC) will replace Semtech Corp. (SMTC) in the S&P MidCap 400, and Semtech will replace Paragon Offshore (PGN) in the S&P SmallCap 600 after the close of trading on Tuesday June 30. S&P 100 & 500 constituent E. I. du Pont de Nemours and Co. (DD) is spinning off Chemours in a transaction expected to be completed on that date. Dupont will remain in the S&P 100 & 500 following the distribution. Semtech and Paragon Offshore are ranked near or at the bottom of their current indices. “New “ Energizer Holdings (ENR) will replace Harsco (HSC) in the S&P MidCap 400, and Harsco will replace FXCM (FXCM) in the SmallCap 600 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Energizer (ENR) is spinning off “new” Energizer in a transaction expected to be completed on that date. Post spin, the parent company will change its name to Edgewell Personal Care Co. and trade under the symbol “EPC”. It will remain in the S&P MidCap 400 following the distribution. Harsco and FXCM are ranked near or at the bottom of their current indices.
17:25 EDTBTUCable ONE Inc. to replace Peabody in S&P 400 as of 6/30 close
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16:00 EDTBTUOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
10:03 EDTCNXHigh option volume stocks
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June 22, 2015
19:56 EDTAEP, BTUUtilities sector dips after EPA warns of 'significant risks' from climate change
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16:07 EDTFTIFMC Technologies awarded $297M contract for subsea production systems
FMC Technologies announced that it has received an order from BP Exploration Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297M in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100km south of Baku.
16:00 EDTCHKOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
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