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Check below for free stories on PL;MOH;AHS;ZMH;WU;PM;GRPN;BPL;IRWD;UTIW;NNA;CMCSA;MDU;PRO the last two weeks.
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September 4, 2014
12:49 EDTMOHJudges to revisit ObamaCare subsidies decision, The Hill reports
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10:29 EDTIRWDOn The Fly: Analyst Downgrade Summary
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08:13 EDTIRWDIronwood downgraded at Cowen
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08:12 EDTUTIWUTi Worldwide continues to target positive free cash flow for FY15
Richard G. Rodick, CFO, said, "We made significant progress in reducing our accounts receivable balance in Q2. As a result, Q2 was our best free cash flow period in six quarters, and better than any second quarter in three years. We continue to expect increased collection of trade receivables and a reduction in work-in-process for the remainder of FY15. Based on these assumptions, we continue to target positive free cash flow for the full fiscal year."
08:11 EDTUTIWUTi Worldwide targets FY16 adjusted EBITDA $190M-$210M
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08:08 EDTUTIWUTi Worldwide reports Q2 EPS ex-items (7c), consensus 1c
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06:14 EDTIRWDIronwood downgraded to Market Perform from Outperform at Cowen
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September 3, 2014
17:05 EDTBPLBuckeye Partners 6.75M share Secondary priced at $80.00
Barclays, Morgan Stanley, UBS, Wells Fargo, JPMorgan and RBC Capital acted as joint book running managers for the offering.
15:29 EDTUTIWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Joy Global (JOY), consensus 84c; VeriFone Systems (PAY), consensus 35c; Ciena (CIEN), consensus 29c; Mattress Firm (MFRM), consensus 60c; Methode Electronics (MEI), consensus 40c; UTi Worldwide (UTIW), consensus 1c.
14:55 EDTMOHObamaCare business exchange to launch in 5 states next month, The Hill says
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13:35 EDTCMCSAComcast and Nascar reach 10-year series entitlement agreement
NASCAR and Comcast announced an agreement that will make Comcast’s XFINITY brand the title sponsor of what is now known as the NASCAR Nationwide Series through 2024. Beginning January 1, 2015, the property will be known as the NASCAR XFINITY Series.
11:18 EDTCMCSACharter, Comcast say SpinCo to be called GreatLand Connections
Charter Communications (CHTR) and Comcast Corporation (CMCSA, CMCSK) announced the name of the new cable company that will be spun off from Comcast upon completion of the Comcast – Time Warner Cable (TWC) merger and the Comcast – Charter transactions. The company referred to as "SpinCo" or "Midwest Cable LLC" will be known as GreatLand Connections Inc.
10:47 EDTCMCSAOpco sees DISH trying to buy T-Mobile for $40/share
Oppenheimer earlier today said it sees DISH (DISH) trying to acquire T-Mobile (TMUS) for $40 per share, and that there is a 20% chance a deal could be announced ahead of the September 10 FCC-mandated quiet period. Opco does not believe DISH can successfully partner with Sprint (S) or T-Moblile (TMUS), leaving buying T-Mobile or selling spectrum as its primary options. The firm expects additional wireless consolidation within the next year, and lists the most likely outcomes as a T-Mobile/DISH merger or T-Mobile/Comcast (CMCSA) merger.
10:32 EDTPMPhilip Morris targeting adjusted EPS annual growth rate of 8%-10%
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06:34 EDTMOHNext Obamacare enrollment period may be very difficult, NY Times says
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September 2, 2014
16:10 EDTBPLBuckeye to acquire 80% interest in Corpus Christi, Eagle Ford assets for $860M
Buckeye Partners announced that it has signed a definitive agreement to acquire an 80% interest in a company that will be owned jointly with Trafigura for $860M. The company and its subsidiaries will own and operate a vertically integrated system of midstream assets including a deep-water, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter and LPG storage complex in Corpus Christi, and three crude oil and condensate gathering facilities in the Eagle Ford shale. All of the assets are supported by 7-10 year minimum volume throughput, storage and tolling agreements with Trafigura. This transaction is expected to close later in September. CEO Clark Smith said, "Substantial fee-based cash flows are expected to be generated by this investment as all of the assets are fully contracted under long-term commercial agreements with Trafigura. We expect to achieve a very attractive Adjusted EBITDA investment multiple of approximately 8.5x after the completion of the growth capital projects currently underway, and we expect this investment to be highly accretive to our distributable cash flow per limited partner unit in 2016 and beyond." Buckeye Texas Partners expects to invest approximately $240M-$270M through 1Q16 relating to these growth capital initiatives that we anticipate will be operational over the next 9-18 months. 100% of the cash flows associated with all of these assets are supported by fee-based take-or-pay revenue commitments under 7-10 year commercial agreements with Trafigura.
11:27 EDTGRPNStocks with call strike movement; GRPN SCTY
Groupon (GRPN) January 8 call option implied volatility increased 3% to 54, SolarCity (SCTY) January 82.5 call option implied volatility increased 6% to 52 according to IVolatility.
10:02 EDTGRPNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Cabot Oil & Gas (COG) upgraded at Stifel... Century Aluminum (CENX) upgraded to Overweight from Equal Weight at Morgan Stanley... Groupon (GRPN) upgraded at RBC Capital... Hawaiian Electric (HE) upgraded to Neutral from Cautious at ISI Group... Life Time Fitness (LTM) upgraded to Overweight from Neutral at Piper Jaffray... Live Nation (LYV) upgraded to Buy from Neutral at Northcoast... Northrop Grumman (NOC) upgraded at RBC Capital... Panasonic (PCRFY) upgraded to Buy from Sell at CLSA... Progressive (PGR) upgraded at Goldman... RCS Capital (RCAP) upgraded to Buy from Neutral at Citigroup... SandRidge Energy (SD) upgraded at Stifel... Staples (SPLS) upgraded to Outperform from Neutral at Credit Suisse... Statoil (STO) upgraded to Buy from Hold at Deutsche Bank... Tenaris (TS) upgraded to Neutral from Sell at UBS... Tesla (TSLA) upgraded at Stifel... Ultratech (UTEK) upgraded to Outperform from Market Perform at Barrington... Volkswagen (VLKAY) upgraded to Outperform from Neutral at Exane BNP Paribas... Waddell & Reed (WDR) upgraded to Buy from Hold at Jefferies... Willis Group (WSH) upgraded to Outperform from Market Perform at Keefe Bruyette... zulily (ZU) upgraded to Buy from Fair Value at CRT Capital.
07:14 EDTGRPNGroupon upgraded at RBC Capital
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06:09 EDTGRPNGroupon upgraded to Sector Perform from Underperform at RBC Capital
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