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Stock Market & Financial Investment News

News Breaks
February 14, 2014
10:07 EDTCCE, HWAY, MANU, DISH, PRSS, ARO, GNC, CHGG, TSCO, FWLT, CBA, CADX, ATK, SMS, AVGO, CNMD, TRGP, EQM, CVE, AEM, MATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Market Perform from Outperform at Cowen... Aeropostale (ARO) downgraded to Market Perform from Outperform at BMO Capital... Agnico-Eagle (AEM) downgraded to Neutral from Buy at UBS... Cadence (CADX) downgraded to Neutral from Buy at Guggenheim... CafePress (PRSS) downgraded to Hold from Buy at Cantor... Cenovus Energy (CVE) downgraded to Hold from Buy at Canaccord... ClearBridge American (CBA) downgraded to Neutral from Buy at BofA/Merrill... DISH (DISH) downgraded to Neutral from Buy at Citigroup... EQT Midstream Partners (EQM) downgraded to Neutral from Outperform at Credit Suisse... Foster Wheeler (FWLT) downgraded to Hold from Buy at BB&T... Manchester United (MANU) downgraded to Market Perform from Outperform at Raymond James... Targa Resources (TRGP) downgraded to Market Perform from Outperform at Wells Fargo... Tractor Supply (TSCO) downgraded to Perform from Outperform at Oppenheimer... CONMED (CNMD) downgraded to Neutral from Buy at Ladenburg... Healthways (HWAY) downgraded to Neutral from Buy at Dougherty... Chegg (CHGG) downgraded at BofA/Merrill... Cenovus Energy (CVE) downgraded to Hold from Buy at TD Securities... Coca-Cola Enterprises (CCE) downgraded to Neutral from Overweight at HSBC... Avago (AVGO) downgraded to Neutral from Buy at DA Davidson... GNC Holdings (GNC) downgraded to Neutral from Buy at Goldman... Mattel (MAT) downgraded to Hold from Buy at Argus... Sims Metal (SMS) downgraded to Neutral from Buy at BofA/Merrill.
News For ATK;ARO;AEM;CADX;PRSS;CVE;CBA;DISH;EQM;FWLT;MANU;TRGP;TSCO;HWAY;CNMD;CHGG;CCE;AVGO;GNC;MAT;SMS From The Last 14 Days
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June 30, 2015
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
11:18 EDTHWAYJames Flynn reports 6.91% passive stake in Healthways
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10:09 EDTCVEOn The Fly: Analyst Initiation Summary
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June 28, 2015
20:25 EDTCVECenovus Energy initiated with a Sell at Goldman
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June 26, 2015
09:16 EDTAROStephens encouraged by Aeropostale back-to-school show
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June 25, 2015
16:42 EDTDISHFCC Chairman outlines changes to future spectrum auctions
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June 24, 2015
10:00 EDTAVGOOn The Fly: Analyst Initiation Summary
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07:39 EDTAVGOAvago initiated with a Buy at Argus
Target $163.
June 23, 2015
18:00 EDTAROS&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.
17:22 EDTAROTopBuild to replace Aeropostale in S&P 600 as of 6/30 close
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12:54 EDTAVGOPC concerns weighing on shares of Seagate, Western Digital
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07:24 EDTEQMCredit Suisse to hold a conference
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June 22, 2015
15:04 EDTDISHT-Mobile could abandon DISH for Comcast, Forbes contributor says
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11:15 EDTMANUManchester United management to meet with Jefferies
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10:00 EDTEQMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Akebia (AKBA) initiated with an Outperform at JMP Securities... Barracuda Networks (CUDA) initiated with a Buy at Summit Research... BioLineRx (BLRX) initiated with an Outperform at JMP Securities... Cabela's (CAB) initiated with an Outperform at Barrington... Chemours (CC) initiated with a Buy at Jefferies... Communications Sales & Leasing (CSAL) initiated with an Overweight at JPMorgan... E.W. Scripps (SSP) initiated with a Hold at Evercore ISI... EQT Corporation (EQT) reinstated with an Overweight at Barclays... EQT GP (EQGP) initiated with an Outperform at Credit Suisse... EQT Midstream Partners (EQM) initiated with a Buy at Deutsche Bank... Eagle Pharmaceuticals (EGRX) initiated with an Outperform at RBC Capital... Energen (EGN) initiated with a Buy at KLR Group... Ignyta (RXDX) initiated with an Overweight at Piper Jaffray... International Game (IGT) initiated with a Buy at BofA/Merrill... Leju (LEJU) initiated with an Overweight at Barclays... Micron (MU) initiated with an Outperform at Cowen... People's Utah Bancorp (PUB) initiated with a Buy at DA Davidson... SouFun (SFUN) initiated with an Overweight at Barclays... Turquoise Hill (TRQ) initiated with an Outperform at BMO Capital.
07:14 EDTEQMEQT Midstream Partners initiated with a Buy at Deutsche Bank
Target $110.
06:11 EDTEQMEQT Midstream Partners reinstated with a Buy at Goldman
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05:35 EDTEQMEQT Midstream Partners reinstated with an Overweight at Barclays
Target $101.
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