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Stock Market & Financial Investment News

News Breaks
March 19, 2014
04:55 EDTBBG, BBG, BCEI, BCEI, MWE, MWE, NBL, NBL, PDCE, PDCE, SYRG, SYRG, DPM, DPM, APC, APCCredit Suisse to hold a field trip
Energy Field Trip travels throughout Denver, Colorado on March 19-20.
News For APC;BBG;BCEI;MWE;NBL;PDCE;SYRG;DPM From The Last 14 Days
Check below for free stories on APC;BBG;BCEI;MWE;NBL;PDCE;SYRG;DPM the last two weeks.
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September 19, 2014
10:28 EDTPDCEPDC Energy settlement removes legal overhang, says Wells Fargo
Wells Fargo says PDC Energy's class action settlement removes a legal overhang and ongoing expenses. Wells believes the $11.5M settlement came in largely below expectations. It keeps an Outperform rating on the stock.
09:02 EDTPDCEPDC Energy agrees to settle settle securities class action
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September 18, 2014
07:38 EDTAPCUBS to hold a conference
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September 17, 2014
10:00 EDTBBGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Hold from Sell at Societe Generale... Baker Hughes (BHI) upgraded to Outperform from Sector Perform at Howard Weil... Bank of the Ozarks (OZRK) upgraded to Buy from Hold at BB&T... Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho... Cepheid (CPHD) upgraded to Buy from Hold at Cantor... Cigna (CI) upgraded to Positive from Neutral at Susquehanna... Extra Space Storage (EXR) upgraded to Buy from Hold at Jefferies... GNC Holdings (GNC) upgraded to Outperform from Neutral at Wedbush... MB Financial (MBFI) upgraded at DA Davidson... Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale... Radian Group (RDN) upgraded to Buy from Neutral at Compass Point... Skullcandy (SKUL) assumed with a Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray.
05:59 EDTBBGBill Barrett upgraded to Buy from Neutral at Mizuho
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September 16, 2014
09:44 EDTMWEMorgan Stanley to hold a summit
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07:42 EDTAPCDeutsche Bank to hold a conference
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07:37 EDTBBGBill Barrett cuts FY14 oil production to 26%, total production to 9.4-9.8 MMBoe
This reduces previous guidance by approximately 1.4 MMBoe, approximately 10% oil, as a result of production attributable to sold assets. It also narrows the previous guidance range toward the lower end of the range, primarily as a result of natural gas production year-to-date. Third quarter of 2014 total production is expected to range between 2.6-2.7 MMBoe. 2014 exit rate production is expected to be approximately 21 MBoe/d. Capital expenditures of $525-$550 million, narrowed to the upper end of previous estimates, primarily as a result of an increased well count in the Uinta Oil Program, due to faster drilling times, and the increased working interest acquired in the Northeast Wattenberg. Lease operating expenses of $58-$62 million. The Company was on track to the mid-point of previous guidance and the adjustment reflects only these asset sales. The run-rate in the fourth quarter of 2014 is expected to approximate $6.50 per Boe, reflecting the higher proportion of oil in the production mix. Gathering, transportation and processing expenses of $36-$37 million. This reflects a significantly reduced fourth quarter run-rate of $1-$2 million total for the quarter. Certain obligations associated with firm natural gas gathering and transportation agreements are expected to be written-off in the third quarter of 2014. The Company may record non-cash charges in the third quarter of 2014 associated with certain of these transactions, including the write-offs of the company's Ruby Pipeline and other firm transportation agreements for an estimated $128M, subject to final review of financial reporting requirements and estimated losses on property sales totaling approximately $100M. The company expects that the transactions will not incur a material current tax liability.
07:35 EDTBBGBill Barrett announces $757M divestiture of Power River, Piceance properties
Bill Barrett announced that it has signed purchase and sale agreements with several undisclosed purchasers for the sale of the majority of its Powder River Basin acreage and the company's remaining position in the Gibson Gulch natural gas program in the Piceance Basin. The transactions include an acreage exchange whereby Bill Barrett Corporation acquires 7,856 net acres and 390 barrels of oil equivalent per day net production within the southern block of its operated Northeast Wattenberg area in exchange for acreage in the Powder River Basin. The total value of the transactions is $757M and includes $568M in cash proceeds, $69M estimated value for assets acquired in an exchange, $36M for the assumption by a purchaser of a lease financing obligation and $84M in future commitments assumed by a purchaser for natural gas firm gathering and transportation obligations. The company expects to reduce its debt to $450M from $1.1B, pro forma as of June 30, 2014. It also anticipates that 2014 exit rate production will have a commodity mix that is more than 70% oil. The asset sales include 46,510 net acres in the Powder River Basin with net production that averaged 1,479 Boe/d in the second quarter of 2014 and proved reserves of 4.2 MMBoe at year-end 2013, and 12,000 net acres in the Piceance Basin with net production that averaged 80 million cubic feet natural gas equivalent per day in the second quarter of 2014 and proved reserves of 438 billion cubic feet natural gas equivalent at year-end 2013. These assets provided 33% of field level cash flow in the second quarter of 2014. The Company plans to sell its remaining Powder River Basin position, which includes 17,649 net acres and 170 Boe/d of production, based on the second quarter of 2014 results.
07:22 EDTBBGVanguard sees Bill Barrett deal 'immediately accretive' to cash flow at closing
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07:17 EDTBBGVanguard Natural acquires natural gas, oil, NGLs for $525M from Bill Barrett
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September 12, 2014
10:24 EDTSYRGSynergy Resources management to meet with Roth Capital
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September 11, 2014
10:00 EDTSYRGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Airgas (ARG) initiated with a Neutral at Northcoast... CBOE Holdings (CBOE) initiated with a Buy at Deutsche Bank... CME Group (CME) initiated with a Buy at Deutsche Bank... Colfax (CFX) initiated with a Neutral at Northcoast... Corporate Office Properties (OFC) initiated with an Overweight at Capital One... Edwards Lifesciences (EW) initiated with a Buy at Sterne Agee... Energen (EGN) initiated with a Buy at Deutsche Bank... Goodrich Petroleum (GDP) initiated with an Outperform at Cowen... GreenHunter Resources (GRH) initiated with a Hold at Stifel... GrubHub (GRUB) initiated with a Market Perform at Barrington... Illinois Tool Works (ITW) initiated with a Neutral at Northcoast... IntercontinentalExchange (ICE) initiated with a Hold at Deutsche Bank... JD.com (JD) initiated with a Buy at Brean Capital... Lincoln Electric (LECO) initiated with a Buy at Northcoast... Live Nation (LYV) initiated with a Buy at Jefferies... Medtronic (MDT) initiated with a Neutral at Sterne Agee... Midstates Petroleum (MPO) initiated with a Market Perform at Cowen... NASDAQ (NDAQ) initiated with a Hold at Deutsche Bank... Newfield Exploration (NFX) initiated with an Outperform at Iberia... Newpark Resources (NR) initiated with an Outperform at Credit Suisse... Nuverra Environmental (NES) initiated with a Buy at Stifel... Palo Alto (PANW) initiated with a Buy at Roth Capital... Petrobras (PBR) initiated with an Outperform at Cowen... RSP Permian (RSPP) initiated with a Hold at Deutsche Bank... Sensata (ST) initiated with an Equal Weight at Morgan Stanley... Stage Stores (SSI) initiated with a Neutral at Credit Suisse... Synergy Resources (SYRG) initiated with an Outperform at Cowen... TE Connectivity (TEL) initiated with an Overweight at Morgan Stanley... Twitter (TWTR) initiated with a Buy at Canaccord... Walter Investment (WAC) initiated with an Underweight at Barclays... Washington REIT (WRE) initiated with an Equalweight at Capital One... Yandex (YNDX) initiated with a Buy at Canaccord... Yara International (YARIY) initiated with a Neutral at Credit Suisse.
September 10, 2014
16:19 EDTSYRGSynergy Resources initiated with an Outperform at Cowen
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September 9, 2014
10:10 EDTMWEOn the Fly: Analyst Downgrade Summary
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07:08 EDTMWEMarkWest Energy downgraded at Stifel
As noted earlier, Stifel downgraded MarkWest to Hold from Buy. The firm downgraded the stock based on valuation.
06:38 EDTMWEMarkWest Energy downgraded to Hold from Buy at Stifel
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September 8, 2014
10:06 EDTBCEIOn The Fly: Analyst Downgrade Summary
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06:44 EDTBCEIBonanza Creek downgraded to Outperform from Strong Buy at Raymond James
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