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Stock Market & Financial Investment News

News Breaks
May 20, 2014
10:00 EDTAXAS, SWHC, SSW, OIS, IRDM, IVZ, ERF, DOW, DVN, TRAK, CCL, ACXM, UPLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abraxas Petroleum (AXAS) upgraded to Buy from Hold at Canaccord... Acxiom (ACXM) upgraded to Outperform from Market Perform at Wells Fargo... Carnival (CCL) upgraded to Equal Weight from Underweight at Morgan Stanley... DealerTrack (TRAK) upgraded to Outperform from Neutral at Macquarie... Devon Energy (DVN) upgraded to Overweight from Equalweight at Barclays... Dow Chemical (DOW) upgraded to Outperform from Market Perform at Wells Fargo... Enerplus (ERF) upgraded to Buy from Neutral at BofA/Merrill... Invesco (IVZ) upgraded to Overweight from Neutral at JPMorgan... Iridium (IRDM) upgraded to Strong Buy from Outperform at Raymond James... Oil States (OIS) upgraded at RBC Capital... Seaspan (SSW) upgraded to Overweight from Equalweight at Barclays... Smith & Wesson (SWHC) upgraded to Outperform from Neutral at Wedbush... Ultra Petroleum (UPL) upgraded to Equalweight from Underweight at Barclays.
News For AXAS;ACXM;CCL;TRAK;DVN;DOW;ERF;IVZ;IRDM;OIS;SSW;SWHC;UPL From The Last 14 Days
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September 17, 2014
10:33 EDTDOWDow Chemical on path to have more than $10B in EBITDA in near term
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07:35 EDTAXASImperial Capital to hold a conference
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September 16, 2014
07:30 EDTSWHCCRT Capital to hold a conference
2nd Annual Investor Conference to be held in Greenwich, CT on September 16.
September 15, 2014
16:17 EDTAXASAbraxas Petroleum provides operations update for Williston Basin, Eagle Ford
Williston Basin: At Abraxas’ North Fork prospect, in McKenzie County, North Dakota, the Ravin 5H, 6H and 7H, which are testing 660 foot spacing in the Middle Bakken, are flowing back at very encouraging rates. Henceforth, Abraxas will provide average per well rates across a group of pad drilled wells in the same formation, opposed to providing individual well results in the Bakken. As an example, the Ravin 5H, 6H and 7H have been on production an average of 27 days and on average produced 1,269 boepd per well over that period. The Ravin 4H, which was impacted by a mechanical issue, has been remediated and is scheduled to be fracture stimulated in late September. In the Stenehjem unit, Abraxas recently set production casing in the lateral of the 2H, is currently drilling the lateral section of the Stenehjem 3H at 16,289 feet MD and will drill the lateral of the 4H immediately thereafter. After full title review, Abraxas owns a working interest of approximately 53% and 73% in the Ravin and Stenehjem wells, respectively. Eagle Ford: At Abraxas’ Jourdanton prospect in Atascosa County, Texas, the Ribeye 1H was recently placed on pump and is producing to sales at reasonable rates. The Ribeye 2H was recently placed on pump and is producing to sales at encouraging rates. 30 day rates will be provided when available. Abraxas owns a 100% working interest across the Jourdanton prospect. At Abraxas’ Cave prospect, in McMullen County, Texas, the Company successfully drilled and cased the Dutch 3H. The Company recently reached TD on Dutch 4H at 19,078 feet MD. The two wells are scheduled to be fracture stimulated in late September. Abraxas holds a 100% working interest in the Dutch 3H and 4H. At Abraxas’ Dilworth East prospect, in McMullen County, Texas, the Company recently leased 500 incremental net acres. The prospect now consists of a combined 940 net contiguous acres and can accommodate up to ten 5,000 foot laterals.
16:15 EDTAXASAbraxas Petroleum raises Q3 production view to 6,900-7,000 boepd
Prior view was 6,500-6,700 boepd.
16:13 EDTSSWSeaspan initiated with a Buy at Deutsche Bank
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16:11 EDTSSWSeaspan extends agreements, considers strategic option for GCI
Seaspan announced that it has entered into an agreement with Greater China Intermodal Investments, or GCI, and Blue Water Commerce, to extend the term of their Right of First Refusal, or ROFR, Agreement by one year to March 31, 2016. GCI is Seaspan's investment partnership established with an affiliate of global asset manager The Carlyle Group and others, including affiliates of Seaspan's director Graham Porter and of its largest shareholder, Dennis R. Washington. Under the ROFR Agreement and subject to its terms, Seaspan has a right of first refusal in respect of containership investment opportunities identified by GCI, as well as a right of first offer in respect of certain proposed containership sales by GCI. Seaspan manages GCI's operating vessels and provides pre-delivery services for GCI's newbuilding vessels. Seaspan has also extended to March 31, 2016 its employment, transaction services and lock-up agreements with its CEO, Gerry Wang and its financing services agreement with Tiger Ventures Limited, or Tiger Ventures, an affiliate of Porter. In connection with the extensions of these agreements, Seaspan's board authorized its conflicts committee, composed entirely of independent directors, to consider strategic options in regard to Seaspan's investment in GCI, including a potential acquisition of GCI by Seaspan.
09:03 EDTACXMAcxiom expands operations to Texas
Acxiom announced that it will be opening a new office in Austin, Texas, to accommodate growing demand in its technology, engineering and operations. The company intends to fill up to 150 positions in technology fields including network engineers, security engineers, systems engineers, security architects, network architects, infrastructure architects, software engineers and project managers. Acxiom’s new offices will open in late November. The company is leasing temporary space in the same office park until the new offices are complete.
07:36 EDTERFFirstEnergy to hold a conference
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September 12, 2014
08:33 EDTSSWSeaspan announces extension of time charter terms by Yang Ming
Seaspan announced that Yang Ming Marine Transport has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option. Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments, or GCI, under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce. The option that Yang Ming held to purchase up to five 14000 TEU newbuilding vessels currently being constructed at Hyundai Heavy Industries has expired, and therefore all five of these 14000 TEU newbuilding vessels will also be time chartered to Yang Ming for ten years with one two-year option. Three of these vessels previously have been allocated to Seaspan and two have been allocated to GCI under the right of first refusal agreement.
September 10, 2014
19:18 EDTDOWDow Chemical loses appeal to receive $1B in tax deductions, Reuters says
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16:20 EDTIVZInvesco reports preliminary month-end AUM for August $811.8B
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September 9, 2014
11:16 EDTTRAKDealerTrack management to meet with Barrington
Meetings to be held in San Francisco on September 15 and in San Diego on September 16 hosted by Barrington.
07:12 EDTSSW, AXASEuro Pacific to hold a conference
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September 8, 2014
12:10 EDTUPLDavis Selected Advisers reports 12.6% passive stake in Ultra Petroleum
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11:37 EDTTRAKDealerTrack to host analyst day
Analyst Day to be held on September 11 at 9:45 am. Webcast Link
11:16 EDTAXASAbraxas Petroleum sees Q3 total production 6,500-6,700 boepd
Sees FY14 total production 5,800-6,000 boepd. Sees Q3 CapEx $56M, FY14 CapEx $190M. Comments from slides that will be presented at the EuroPac conference.
09:14 EDTSSWSeaspan announces new 10K TEU time charters, option agreement
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08:35 EDTDOWDow Chemical Chief Information Officer, Chief Sustainability Officer to retire
David E. Kepler, executive vice president, chief sustainability officer and chief information officer, has decided to retire at the end of this year. James R. Fitterling, vice chairman, Business Operations, will have executive oversight of Dow’s businesses including, Dow Packaging and Specialty Plastics, Dow Elastomers, Dow Electrical & Telecommunications, Polyurethanes, Epoxy, Specialty Chemicals, Chemicals, Hydrocarbons, and Energy. Fitterling will also continue to oversee implementation of the Company’s previously announced Chlorine, Chlorinated Organics, and Epoxy carve-out and divestment efforts. In addition, he will add to his responsibility for Supply Chain the following functions: Dow’s Business Services, which includes Information Systems and Workplace Services, Business Process Services, Purchasing, Customer Service, the Dow Services Business, and the Environmental Health & Safety and Sustainability organizations. Fitterling assumes this portion of his ne responsibilities from David E. Kepler, who has decided to retire from Dow following a 39-year career with the Company. Kepler most recently served as executive vice president, chief sustainability officer and chief information officer. Joe E. Harlan, chief commercial officer and vice chairman, Market Businesses, will have executive oversight for Dow’s market-driven businesses including, Agricultural Sciences, Dow Electronic Materials, Dow Pharma and Food Solutions, Home and Personal Care, Dow Automotive Systems, Dow Oil & Gas, Dow Microbial Control, Dow Water & Process Solutions, Dow Coating Materials, Performance Monomers, and Dow Building & Construction. Additionally, in his role as chief commercial officer he will drive Dow’s global Marketing and Sales strategy and organization. He will also maintain executive oversight of the Company’s presence in Asia Pacific.
08:31 EDTDOWDow Chemical CFO William Weideman to retire, Ungerleider to succeed as CFO
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