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Stock Market & Financial Investment News

News Breaks
August 7, 2014
15:43 EDTSUSP, SSP, HMSY, DRH, PGNX, CCC, BECN, SUSS, CHH, LXU, MHR, ESNT, PDCE, SRO, BPL, BAMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Brookfield Asset Management (BAM), one estimate 31c; Buckeye Partners (BPL), consensus 84c; Sirona Dental (SRO), consensus 96c; Choice Hotels (CHH), consensus 49c; Diamondrock Hospitality (DRH), consensus 25c; PDC Energy (PDCE), consensus 34c; Susser Holdings (SUSS), consensus 93c; HMS Holdings (HMSY), consensus 12c; Essent Group (ESNT), consensus 21c; Beacon Roofing (BECN), consensus 58c; E. W. Scripps (SSP), consensus 12c; Magnum Hunter Resources (MHR), consensus (17c); Calgon Carbon (CCC), consensus 28c; Susser Petroleum (SUSP), consensus 54c; LSB Industries (LXU), consensus 78c; Progenics Pharmaceuticals (PGNX), consensus (14c).
News For BAM;BPL;SRO;CHH;DRH;PDCE;SUSS;HMSY;ESNT;BECN;SSP;MHR;CCC;SUSP;LXU;PGNX From The Last 14 Days
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July 21, 2015
10:01 EDTHMSYOn The Fly: Analyst Downgrade Summary
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08:07 EDTHMSYHMS Holdings price target lowered to $18 from $27 at Baird
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06:57 EDTHMSYHMS Holdings downgraded to Neutral from Buy at BofA/Merrill
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July 20, 2015
16:22 EDTHMSYOn The Fly: Top stock stories for Monday
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10:05 EDTPDCEHigh option volume stocks
High option volume stocks: PDCE GNRC CRZO NLSN RUBI TFM HABT EXEL DUST
08:34 EDTHMSYHMS Holdings to protest NJ Medicaid third party liability contract award
After the markets closed on Friday, July 17, HMS Holdings Corp. received notification from the State of New Jersey Division of Purchase and Property, Procurement Bureau of its intent to make a contract award for Third Party Liability Services to a competitor, pursuant to the State's RFP 15-x-23249. HMS intends to protest the proposed award to Public Consulting Group, consistent with the Divisionís administrative regulations, and will also consider any and all legal remedies as appropriate. "We are committed to the third-party liability business we perform for state customers throughout the nation. We have served the State of New Jersey for nearly 30 years and recovered hundreds of millions of dollars for the State Treasury. We believe our experience and qualifications as a third-party liability vendor for state Medicaid programs are unmatched in the industry and that does not appear to be reflected in the scoring of our RFP response," said Bill Lucia, Chairman and CEO.
July 17, 2015
17:29 EDTMHRRelational Investors cuts stake in Magnum Hunter to 6.26% from 8.5%
July 15, 2015
08:49 EDTPGNXProgenics management to meet with Brean Capital
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08:41 EDTDRHDiamondRock acquires Key West hotel for $94M
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07:44 EDTSUSSEquity Transfer Partners, Energy Transfer Equity exchange 21M ETP units
Energy Transfer Partners, L.P. (ETP) and Energy Transfer Equity, L.P. (ETE) announced the exchange of 21 million ETP common units, currently owned by ETE, for 100% of the general partner interest and the incentive distribution rights of Sunoco LP (SUN). In addition, as part of this transaction, ETE has agreed to provide ETP a $35 million annual IDR subsidy for two years. The cash flow accretion expected to be realized by ETP from this transaction is more than $0.30 per common unit per annum, which will continue to support ETPís attractive distribution growth going forward. For ETE, this transaction continues its transition to a pure play general partner for the overall Energy Transfer group. Pro forma for this transaction, ETE expects to maintain its distribution growth rate while migrating to its traditional 1.0x distribution coverage ratio. In connection with the original acquisition of Susser Holdings Corporation (SUSS) by ETP in August 2014, ETE agreed to provide ETP an annual $35 million IDR subsidy for 10 years, subject to automatic termination in the event that ETE acquired the GP interest and IDRs of SUN in exchange for ETP common units owned by ETE. As part of the current transaction, ETE has agreed to provide ETP a $35 million IDR subsidy for an additional two years. ETP and ETE expect there will be no credit ratings impact from this transaction. Following this transaction, SUN will no longer be consolidated for accounting purposes by ETP, but instead will appear in the consolidated financial statements for ETE. This transaction is expected to close in August 2015 after the record date for second quarter distributions for both the SUN GP interest and IDRs and ETP common units, but will be effective as of July 1, 2015. Tudor, Pickering, Holt & Co. acted as financial advisor to the ETP conflicts committee. Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to ETP and Richard Layton & Finger, P.A. acted as legal advisor to the ETP conflicts committee. Credit Suisse acted as financial advisor to the ETE conflicts committee. Latham & Watkins LLP acted as legal advisor to ETE and Potter Anderson & Corroon LLP acted as legal advisor to the ETE conflicts committee.
06:39 EDTPGNXCytoDyn appoints Paul Maddon as Senior Science Advisor
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July 14, 2015
17:52 EDTHMSYS&P announces changes to the S&P 500, 400, 600, and 100 indices
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17:22 EDTHMSYHMS Holdings to replace Swift Energy in S&P 600 as of 7/17 close
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17:21 EDTHMSYNoble Corp. to replace HMS Holdings in S&P 400 as of 7/17 close
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16:25 EDTLXULSB raises cost estimate for El Dorado expansion to $560M-$575M
LSB Industries provided an update on the status of the expansion project at its El Dorado, Arkansas facility. "The new nitric acid plant and concentrator are on schedule to be completed and operational by the end of Q3. The 375,000 ton per year ammonia plant remains on schedule to be completed and operational in 1Q16," said the company. The current cost estimate for the EDC expansion has been raised to $560M-$575M, up from the previous estimate of $495M-$520M. Based on managementís current project cost estimates and forecast for operating cash flow, at this time LSB does not expect to require additional financing to complete the EDC expansion. Contributing to the increased cost estimate to complete the EDC expansion were productivity and quality issues with a subcontractor responsible for the installation of piping in the ammonia plant. "Even with the anticipated higher costs, we believe that the project economics remain compelling, with the new capacity expected to yield approximately $90M of annual incremental EBITDA operating at full capacity," said CEO Barry Golsen.
13:01 EDTSSPGabelli names E.W. Scripps as among top trades for second half
Mario Gabelli, chairman and CEO of GAMCO Investors, mentioned the stock while speaking on CNBC.
10:01 EDTDRHOn The Fly: Analyst Initiation Summary
8point3 Energy (CAFD) initiated with a Buy at Deutsche Bank... Abraxas Petroleum (AXAS) initiated with a Market Perform at Cowen... Amarantus Bioscience (AMBS) initiated with a Buy at WallachBeth... Ashford Hospitality Prime (AHP) initiated with a Hold at Canaccord... Ashford (AINC) initiated with a Hold at Canaccord... BE Aerospace (BEAV) initiated with a Neutral at JPMorgan... Bed Bath & Beyond (BBBY) initiated with a Neutral at Longbow... Benchmark Electronics (BHE) initiated with a Buy at B. Riley... Bill Barrett (BBG) initiated with a Market Perform at Cowen... Boeing (BA) initiated with an Overweight at JPMorgan... Bombardier (BDRBF) initiated with a Neutral at JPMorgan... Cablevision (CVC) initiated with a Hold at Deutsche Bank... Charter (CHTR) initiated with a Buy at Deutsche Bank... Chesapeake (CHK) initiated with an Equal Weight at Stephens... Comcast (CMCSA) initiated with a Hold at Deutsche Bank... DiamondRock (DRH) initiated with a Buy at Canaccord... Diamondback Energy (FANG) initiated with an Outperform at Cowen... EOG Resources (EOG) initiated with an Overweight at Stephens... Fogo De Chao (FOGO) initiated with a Buy at Jefferies... General Dynamics (GD) initiated with an Overweight at JPMorgan... HP (HPQ) initiated with a Hold at Maxim... Hanover Insurance (THG) initiated with an Overweight at Piper Jaffray... Harris (HRS) initiated with a Neutral at JPMorgan... Hospitality Properties (HPT) initiated with a Hold at Canaccord... Host Hotels (HST) initiated with a Hold at Canaccord... Hydrogenics (HYGS) initiated with a Buy at Rodman & Renshaw... King Digital (KING) initiated with an Overweight at Morgan Stanley... L-3 Communications (LLL) initiated with a Neutral at JPMorgan... La-Z-Boy (LZB) initiated with a Neutral at Longbow... LaSalle Hotel (LHO) initiated with a Hold at Canaccord... MINDBODY (MB) initiated with a Buy at UBS... Marriott (MAR) initiated with a Hold at Canaccord... Newfield Exploration (NFX) initiated with a Buy at Global Hunter... Northern Oil and Gas (NOG) initiated with a Market Perform at Cowen... Northrop Grumman (NOC) initiated with an Underweight at JPMorgan... Oasis Petroleum (OAS) initiated with an Outperform at Cowen... PDC Energy (PDCE) initiated with an Outperform at Cowen... Pier 1 Imports (PIR) initiated with a Buy at Longbow... Plexus (PLXS) initiated with a Buy at B. Riley... Raytheon (RTN) initiated with a Neutral at JPMorgan... RetailMeNot (SALE) initiated with an Equal Weight at Morgan Stanley... Rockwell Collins (COL) initiated with a Neutral at JPMorgan... Spirit AeroSystems (SPR) initiated with an Overweight at JPMorgan... Starwood (HOT) initiated with a Buy at Canaccord... Strategic Hotels (BEE) initiated with a Buy at Canaccord... Summit Hotel Properties (INN) initiated with a Buy at Canaccord... Textron (TXT) initiated with a Neutral at JPMorgan... Time Warner Cable (TWC) initiated with a Buy at Deutsche Bank... TransDigm (TDG) initiated with an Overweight at JPMorgan... TrueCar (TRUE) initiated with an Equal Weight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Outperform at Cowen... XL Group (XL) initiated with an Overweight at Piper Jaffray... Zillow Group (Z) initiated with an Overweight at Morgan Stanley... Zynga (ZNGA) initiated with an Equal Weight at Morgan Stanley.
08:35 EDTSSPE.W. Scripps and CBS renew affiliation agreement for WTVF, Nashville
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08:08 EDTPDCEPDC Energy initiated with an Outperform at Cowen
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07:03 EDTDRHDiamondRock initiated with a Buy at Canaccord
Target $16.
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