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Stock Market & Financial Investment News

News Breaks
August 30, 2013
10:31 EDTSNP, APAApache advances after selling stake in Egypt business
Shares of energy explorer Apache (APA) are climbing after the company announced that it had sold a 33% stake in its Egyptian business to a Chinese company. WHAT'S NEW: Apache last night announced that it had sold a 33% stake in its Egyptian oil and gas business to China's Sinopec International Petroleum (SNP). Apache noted that it would continue to operate its Egypt upstream oil and gas business. ANALYST REACTION: A number of analysts reacted positively to the news. The transaction is "a game-changer," Deutsche Bank analyst Stephen Richardson wrote in a note to investors. The deal enables Apache to obtain significant value from an asset to which the market had given low value, he believes. As a result of the deal, Egyptian assets constitute only 15% of Apache's production, down from 20% last year, the analyst wrote. He kept a $105 price target and Buy rating on the shares. Similarly, Wells Fargo analyst David Tameron wrote that the deal is positive for Apache's stock, as many on the Street had doubted whether the company could sell its Egyptian assets for a significant amount. Apache received a much higher value for the assets than the Street had expected, and the company can use the funds to reduce its debt or buy back more of its shares, added Tameron. Moreover, the transaction could force those shorting the stock to buy back shares, propelling the shares higher, Tameron believes. He kept an Outperform rating on the stock. PRICE ACTION: In mid-morning trading, Apache climbed $6.30, or 8%, to $85.
News For APA;SNP From The Last 14 Days
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August 28, 2015
10:02 EDTSNPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
09:38 EDTSNPSinopec upgraded to Neutral from Sell at Citi
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August 27, 2015
12:01 EDTAPAStocks with call strike movement; APA SPLS
Apache (APA) December 15 call option implied volatility decreased 9% to 42, Staples (SPLS) December 15 call option implied volatility decreased 9% to 42 according to iVolatility.
August 26, 2015
15:56 EDTSNPSinopec upgraded to Buy from Hold at HSBC

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