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Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTAMC, SCSS, SHW, PPG, SU, IMO, EPGNY, CVE, TPX, VAL, TLM, RKUS, ITT, ECA, CTIC, BOFI, AGU, RPM, SUSS, MERU, HPTX, CGENOn The Fly: Analyst Initiation Summary
AMC Entertainment (AMC) initiated with an Equal Weight at Barclays... Canadian Natural (CNQ) initiated with an Outperformer at CIBC... Cell Therapeutics (CTIC) initiated with a Hold at WallachBeth... Cenovus Energy (CVE) initiated with a Sector Performer at CIBC... Compugen (CGEN) initiated with a Buy at Jefferies... Encana (ECA) initiated with a Sector Performer at CIBC... Epigenomics (EPGNY) initiated with a Buy at Maxim... Hyperion Therapeutics (HPTX) initiated with a Buy at Cantor... ITT Corp. (ITT) initiated with a Buy at SunTrust... Imperial Oil (IMO) initiated with a Sector Performer at CIBC... Mattress Firm (MFRM) initiated with a Buy at Jefferies... Meru Networks (MERU) initiated with a Buy at Mizuho... Ruckus Wireless (RKUS) initiated with a Buy at Mizuho... Suncor (SU) initiated with an Outperformer at CIBC... Susser Holdings (SUSS) initiated with a Hold at Jefferies... Talisman Energy (TLM) initiated with an Underperformer at CIBC... PPG Industries (PPG) coverage assumed with an Equal Weight at Morgan Stanley... RPM (RPM) coverage assumed with an Overweight at Morgan Stanley... Valspar (VAL) coverage assumed with an Underweight at Morgan Stanley... Sherwin-Williams (SHW) coverage assumed with an Overweight at Morgan Stanley... Agrium (AGU) coverage resumed with an Equal Weight at Morgan Stanley... Canadian Natural (CNQ) initiated with an Overweight at Morgan Stanley... Tempur Sealy (TPX) initiated with a Neutral at Nomura... Select Comfort (SCSS) initiated with a Neutral at Nomura... Mattress Firm (MFRM) initiated with a Buy at Nomura... Bofi Holding (BOFI) initiated with a Neutral at Sterne Agee.
News For AMC;CTIC;CVE;CGEN;ECA;EPGNY;HPTX;ITT;IMO;MERU;RKUS;SU;SUSS;TLM;PPG;RPM;VAL;SHW;AGU;TPX;SCSS;BOFI From The Last 14 Days
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July 2, 2015
06:18 EDTAMCAMC Entertainment initiated with a Buy at Benchmark Co.
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June 30, 2015
15:18 EDTCVECenovus Energy upgraded to Outperform from Neutral at Macquarie
12:09 EDTITTPentair peers advance after Peltz urges company to look for acquisitions
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06:03 EDTCVECenovus sells royalty business for $3.3B to Ontario Teachers' Pension Plan
Cenovus Energy has reached an agreement to sell Heritage Royalty Limited Partnership, a wholly-owned subsidiary, to Ontario Teachers' Pension Plan for gross cash proceeds of approximately $3.3B. HRP holds approximately 4.8M gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, HRP had associated third-party royalty interest volumes of approximately 7,800 barrels of oil equivalent per day. Additional royalties have also been added to HRP a royalty on Cenovus's working interest production with implied first quarter volumes of approximately 5,400 BOE/d, as well as a Gross Overriding Royalty on Cenovus's Pelican Lake heavy oil property in northern Alberta and its enhanced oil recovery project in Weyburn, Saskatchewan, with implied first quarter volumes of 1,600 BOE/d. The GORR represents less than 15% of HRP's cash flow. Cenovus's decision to sell HRP to Teachers' is the outcome of a rigorous marketing process that attracted significant interest. Over the past several months, the company considered several alternatives to generate value from the business, including a potential initial public offering. After a thorough review, the transaction with Teachers' was determined to be the best alternative to maximize value for Cenovus shareholders. At the end of the first quarter, the company's net debt to capitalization ratio was 27%, which significantly improves with this transaction. Cenovus's pro forma cash position at the end of the quarter would have been $5.1 billion, or $6.16 per outstanding share. As a result of the transaction, Cenovus's consolidated production, on a pro forma basis, will be reduced by the 7,800 BOE/d of third-party royalty interest volumes. Where Cenovus has current working interest production on these fee lands, the company has entered into lease agreements with HRP. Royalty rates and lease terms are attractive to Cenovus and are not expected to materially impact the free cash flow currently generated from these assets. To help preserve the future growth and development of its conventional oil and gas business, the company has also retained an option to acquire leases at pre-determined rates and lease terms for up to 10 years on more than 800,000 acres in zones of the fee lands currently being developed by Cenovus. Approximately 40 staff members of HRP will be transferred as part of the transaction.
06:03 EDTCVECenovus Energy sells royalty business for $3.3B
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06:01 EDTCVECenovus Energy sells royalty business for $3.3B
June 29, 2015
10:09 EDTSU, CVEOn The Fly: Analyst Initiation Summary
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07:41 EDTAGUAgrium price target raise to $110 from $95 at JPMorgan
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07:13 EDTAMCAMC Entertainment shares likely to rise further, says Piper Jaffray
Piper Jaffray believes that AMC has a number of upcoming catalysts,. including strong films and premium pricing in its upgraded theaters. The firm keeps an Overweight rating on the stock.
June 28, 2015
20:25 EDTCVECenovus Energy initiated with a Sell at Goldman
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20:23 EDTSUSuncor initiated with a Buy at Goldman
Goldman initiated Suncor with a Buy and $34 price target based on solid volume and dividend growth.
June 26, 2015
14:35 EDTIMOImperial Oil and partners Exxon Mobil, BP delay Arctic drilling, CBC News says
Imperial Oil (IMO) as well as its joint venture partners Exxon Mobil (XOM) and BP (BP) have postponed plans for exploratory drilling in the Beaufort Sea, says CBC News Reference Link
June 24, 2015
07:38 EDTSUSuncor management to meet with JPMorgan
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07:16 EDTRPMCredit Suisse to hold a conference
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June 23, 2015
05:33 EDTRKUSJuniper, Ruckus Wireless announce new technology alliance
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June 21, 2015
16:21 EDTAMCUniversal's 'Jurassic World' leads U.S. weekend box office with $102M
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June 19, 2015
10:00 EDTECAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aerie Pharmaceuticals (AERI) upgraded to Buy from Hold at Canaccord... Amedisys (AMED) upgraded to Buy from Hold at Jefferies... Consolidated Edison (ED) upgraded to Hold from Sell at Evercore ISI... Delta Air Lines (DAL) upgraded to Outperform from Peer Perform at Wolfe Research... Deutsche Bank (DB) upgraded to Neutral from Underperform at Exane BNP Paribas... EP Energy (EPE) upgraded on better than expected well economics at SunTrust... Encana (ECA) upgraded to Outperform from Market Perform at BMO Capital... Energy Transfer Partners (ETP) upgraded to Buy at BofA/Merrill... Erickson (EAC) upgraded to Outperform from In-Line at Imperial Capital... Fiserv (FISV) upgraded on growth opportunities, margin outlook at Oppenheimer... IPC Healthcare (IPCM) upgraded to Buy from Hold at Jefferies... Mack-Cali Realty (CLI) upgraded on valuation at Stifel... Micron (MU) upgraded to Buy on sustainable margins and capex at Topeka... NuStar Energy (NS) upgraded to Buy from Neutral at BofA/Merrill... NuStar GP Holdings (NSH) upgraded to Buy from Neutral at BofA/Merrill... Ramco-Gershenson (RPT) upgraded to Outperform from Neutral at Baird... Retail Opportunity (ROIC) upgraded to Outperform from Market Perform at Raymond James... Royal Dutch Shell (RDS.A) upgraded to Outperform from Sector Perform at RBC Capital... Smith & Wesson (SWHC) upgraded to Outperform from Sector Perform at RBC Capital... Sovran Self Storage (SSS) upgraded to Buy from Hold at Cantor... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie.
06:34 EDTECAEncana upgraded to Outperform from Market Perform at BMO Capital
BMO Capital upgraded Encana to Buy with a $15 price target due to valuation.
06:01 EDTCVECenovus confirms discussions with counterparty with royalty lands transaction
Cenovus Energy announced that it continues to make progress on its previously announced plan to pursue opportunities to maximize the value of its royalty interest and mineral fee title lands. The company confirms it is in discussions with a counterparty with respect to a potential sale of the assets. There is no assurance any agreement will result from the discussions. Until such time as it is appropriate to make a public announcement about a transaction, Cenovus does not intend to comment further on this matter.
06:01 EDTCVECenovus Energy updates royalty lands transaction process
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