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June 9, 2014
09:58 EDTAXE, ERF, NBCB, MCC, TSLX, BDN, TOT, MMS, NFBKOn The Fly: Analyst Downgrade Summary
Anixter (AXE) downgraded to Neutral from Outperform at RW Baird... Enerplus (ERF) downgraded to Sector Perform from Outperform at RBC Capital... First NBC Bank (NBCB) downgraded to Market Perform from Outperform at Keefe Bruyette... Medley Capital (MCC) downgraded to Market Perform from Outperform at JMP Securities... TPG Specialty Lending (TSLX) downgraded to Neutral from Buy at BofA/Merrill... Brandywine Realty (BDN) downgraded to Neutral from Buy at ISI Group... Total (TOT) downgraded downgraded to Hold from Buy at Canaccord... Maximus (MMS) downgraded to Market Perform from Outperform at Raymond James... Northfield Bancorp (NFBK) downgraded to Neutral at Boenning & Scattergood.
Check below for free stories on AXE;ERF;NBCB;MCC;TSLX;BDN;TOT;MMS;NFBK the last two weeks.
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September 26, 2014
14:31 EDTBDNBrandywine Realty sees 2014 adjusted FFO $1.29-$1.34
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09:41 EDTTOTTotal management to meet with JPMorgan
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September 25, 2014
15:48 EDTTOTTotal to sell 17% interest in Gulf of Mexico Tahiti oil field, Reuters says
According to people familiar with the matter, Total has begun a process to liquidate its 17% stake in the Gulf of Mexico's Tahiti oil field, Reuters says. The sale could be worth approximately $1.5B-$2B, Reuters added. Reference Link
September 23, 2014
10:17 EDTTOTAmyris rises after reporting KLM plans use of renewable jet fuel
Shares of Amyris (AMRS) are rising in early trading after the company stated on its corporate Twitter account last night that KLM intends to use a renewable jet fuel from Amyris and Total (TOT). Shares of Amyris are up 4% to $4.10 in early trading following last night's Tweet from the company. Reference Link
08:54 EDTTOTTotal sells 25% interest in Cardinal Gas Services to Korean consortium
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08:15 EDTTOTEV Energy to divest 9% interest in Cardinal Gas Services
EV Energy Partners announced it has signed an agreement to divest its 9% interest in Cardinal Gas Services to E1 and a Korean consortium led by Samchully for $162M, which includes estimated purchase price adjustments of approximately $18M. This sale is being made in conjunction with TOTAL E&P USA (TOT), which has also agreed to divest its 25% interest in CGS. The transaction is expected to close in mid-October and is subject to regulatory approval, tag-along rights and approval of the other member of CGS, as well as customary closing conditions and purchase price adjustments. Upon closing, EVEP intends to use the net proceeds of the disposition to repay amounts outstanding under its revolving credit facility.
September 22, 2014
11:49 EDTTOTRubis in exclusive talks for Total 50% stake in SARA refinery
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10:15 EDTERFOn The Fly: Analyst Upgrade Summary
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10:02 EDTBDNHill International moves headquarters to Philadelphia
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09:13 EDTERFEnerplus upgraded to Action List Buy from Buy at TD Securities
06:46 EDTERFEnerplus upgraded at RBC Capital
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06:43 EDTTOTTotal now sees producing 2.8M boepd in 2017
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September 19, 2014
18:30 EDTTOTTotal may consider spin-off of gas station business, Bloomberg reports
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07:40 EDTTOTLukoil evaluating impact of sanctions on Total jv, Reuters reports
The CEO of Lukoil (LUKOY) said the company is evaluating the impact of U.S. and European sanctions on its joint venture with Total (TOT), with which the Russian company is developing the Yamal LNG project and was planning to drill for tight oil in Siberia, reported Reuters. Reference Link
06:31 EDTTOTTotal receives offer from Arkema for Bostik adhesives affiliate
Total has received an offer from the French group Arkema to acquire its Bostik affiliate, a global adhesives company. Arkema’s offer values Bostik at EUR1.74B, or around $2.25B, representing 11 times the company’s EBITDA. In light of the quality of the project, Total has granted Arkema an exclusivity period to pursue the offer, and it will be presented to the relevant employee representatives, as part of the required information and consultation procedures. Arkema’s offer for Bostik includes clear undertakings to continue operations sustainably and safeguard existing jobs and employee benefits. The proposed transaction is subject to approval by the relevant antitrust authorities.
06:02 EDTERFEnerplus announces October cash dividend, suspends stock dividend program
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September 18, 2014
09:02 EDTBDNBrandywine Realty and Peterson Companies to develop town center in Herndon, VA
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September 17, 2014
16:16 EDTAXEAnixter closesTri-Ed acquisition, sees as accretive in first year of operation
Anixter International announced that it has completed the acquisition of Tri-Ed for a total purchase price of $420M, subject to working capital, escrow and other customary adjustments. Tri-Ed generated approximately $570M in sales and $36M in adjusted EBITDA over the trailing twelve months ending June 30. The acquisition is expected to be accretive to earnings in the first full year of operation, exclusive of transaction and one-time integration expenses. Anixter funded the acquisition through a combination of a previously announced $200M term loan and available liquidity. A more detailed discussion of the financial impact will occur on Anixter’s upcoming third quarter 2014 earnings call on Tuesday, October 28.
September 16, 2014
10:47 EDTTOTBadri sees OPEC lowering oil output target at next meeting, Reuters says
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