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Stock Market & Financial Investment News

News Breaks
August 19, 2014
09:55 EDTLINE, LINE, BCEI, BCEI, BAS, BAS, EOX, EOX, CRR, CRR, TPLM, TPLM, DNR, DNR, CXO, CXO, EPM, EPMEnerCom to hold a conference
The Oil & Gas Conference to be held in Denver on August 18-21 with webcasted company presentations to begin on August 19 at 10 am; not all company presentations may be webcasted. Webcast Link
News For BAS;EOX;CRR;TPLM;DNR;CXO;EPM;LINE;BCEI From The Last 14 Days
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February 12, 2016
09:59 EDTLINEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aegerion (AEGR) downgraded to Underperform from Neutral at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Argus... Bed Bath & Beyond (BBBY) downgraded to Perform from Outperform at Oppenheimer... Best Buy (BBY) downgraded to Perform from Outperform at Oppenheimer... Boeing (BA) downgraded to Neutral from Overweight at JPMorgan... CSX (CSX) downgraded to Market Perform from Outperform at Avondale... Comstock Resources (CRK) downgraded to Neutral from Buy at Ladenburg... EV Energy (EVEP) downgraded to Neutral from Buy at Ladenburg... FNFV (FNFV) downgraded to Market Perform from Outperform at Keefe Bruyette... Flowers Foods (FLO) downgraded to Hold from Buy at Deutsche Bank... Goldcorp (GG) downgraded to Sector Performer from Outperformer at CIBC... Group 1 Automotive (GPI) downgraded to Sector Weight from Overweight at KeyBanc... HSBC cuts Sprint (S) to sell, says competitors may make turnaround difficult... KAR Auction (KAR) downgraded to Neutral from Buy at Goldman... LINN Energy (LINE) downgraded to Sell from Neutral at Citi... LPL Financial (LPLA) downgraded to Market Perform from Outperform at Wells Fargo... Legacy Reserves (LGCY) downgraded to Neutral from Buy at Ladenburg... LinnCo (LNCO) downgraded to Sell from Neutral at Citi... Memorial Production (MEMP) downgraded to Neutral from Buy at Ladenburg... NetApp (NTAP) downgraded to Underweight from Neutral at Atlantic Equities... Netflix (NFLX) downgraded to Market Perform from Outperform at FBR Capital... Nu Skin (NUS) downgraded to Neutral from Buy at Sidoti... Oceaneering (OII) downgraded on multiple headwinds at RBC Capital... Och-Ziff Capital (OZM) downgraded to Neutral from Buy at Compass Point... Stone Energy (SGY) downgraded to Neutral from Buy at Ladenburg... Vanguard Natural (VNR) downgraded to Neutral from Buy at Ladenburg.
07:11 EDTLINELINN Energy downgraded to Sell from Neutral at Citi
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06:04 EDTBASBasic Energy reports Jan. well servicing rig count unchanged at 421
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February 8, 2016
12:57 EDTEOXEmerald Oil says remains in default of credit agreement
Emerald Oil disclosed in a regulatory filing that, on January 29, the amendment to the forbearance agreement dated December 18 with regard to the credit agreement between Emerald Oil and Wells Fargo Bank expired, and the company was determined to be in default of the agreement. As a result of the default, on February 2, the Bank of Nova Scotia notified the company it had designated February 3 as the early termination date of the ISDA master agreement between the company and BNS. Thereafter, on February 3, BNS terminated the agreement and applied $17.5M of proceeds from the termination to amounts owing by the company to BNS under the credit agreement. As a result of the payment of the agreement termination proceeds, as well as the proceeds from other transactions consummated by the company, Emerald has cured the borrowing base deficiency under the facility, and the borrowing base under the facility is currently $113M, with approximately $111M currently outstanding. However, notwithstanding this cure, the company remains in default under the facility based on the continuing covenant defaults, and there is no credit available under the facility. So long as one or more events of default are continuing, the company's lenders may exercise a number of remedies including acceleration of the debt and the sale of collateral, the company noted. The exercise of those remedies may have a material adverse effect on the liquidity, financial condition and results of operations of the company, and, because its liquidity position continues to deteriorate, the company may still become bankrupt or insolvent.
12:44 EDTEOXEmerald Oil trading halted, pending news
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09:36 EDTLINEActive equity options trading on open
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09:00 EDTLINEHedgeye analyst Kaiser says Linn, Chesapeake could go to zero, Barron's reports
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February 5, 2016
10:02 EDTLINEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
09:19 EDTLINEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 6.9%... Symantec (SYMC), up 9.1%... Ubiquiti (UBNT), up 20.2%... Lumentum (LITE), up 7.5%. DOWN AFTER EARNINGS: Tableau Software (DATA), down 42.8%... LinkedIn (LNKD), down 35.6%... Outerwall (OUTR), down 19.9%... Sierra Wireless (SWIR), down 24.4%... Deckers Outdoor (DECK), down 12.7%... Hanesbrands (HBI), down 13.3%. ALSO LOWER: LinnCo (LNCO), down 65% after announcing exploration of strategic alternatives... Linn Energy (LINE), down 59.2% after announcing exploration of strategic alternatives... Quotient (QTNT), down 17.9% after 4.44M share Secondary priced at $9.00... Hess (HES), down 10.2% after 25M share Spot Secondary priced at $39.00.
08:10 EDTLINELINN Energy downgraded to Underperform at Raymond James
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07:57 EDTLINELinnCo downgraded to Sell from Hold at Stifel
Stifel downgraded LinnCo (LNCO) to Sell after it downgraded the shares of its subsidiary, Linn Energy LLC (LINE) , to Sell.
07:55 EDTLINELINN Energy downgraded to Sell from Hold at Stifel
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07:05 EDTLINELINN Energy downgraded to Sell from Neutral at Ladenburg
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06:19 EDTLINELINN Energy downgraded to Underperform from Market Perform at Raymond James
February 4, 2016
19:49 EDTLINELINN Energy to explore strategic alternatives, draws remaining credit facility
LINN Energy (LINE) and LinnCo (LNCO) announced earlier that LINN has initiated a process to explore strategic alternatives to "strengthen its balance sheet and maximize the value of the company." CEO Mark Ellis commented, "Given commodity pricing pressure and the impact that market challenges are expected to have on our industry and the long-term financial outlook of our company, we believe it is prudent to explore opportunities to strengthen our balance sheet and ensure we have adequate financial flexibility to manage through prolonged commodity price headwinds... We currently have adequate resources to continue the efficient operations of our assets with the support of all our vendors, suppliers and partners while we work through these strategic alternatives." The company disclosed that it recently borrowed approximately $919M from its credit facility, which represented the remaining undrawn amount that was available.
February 3, 2016
19:06 EDTEPMEvolution Petroleum completes separation of GARP operations
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19:03 EDTEPMEvolution Petroleum reports Q2 EPS 2c, consensus 6c
Reports Q2 revenue $6.56M, consensus $8.17M. Reports Delhi net production 1,801 BOPD, up 6% sequentially. Reports Delhi average realized oil price $39.59 per barrel, down sequentially from $46.70 per barrel. Reports Delhi lifting costs $13.44 per barrel, down 18% from $16.37. Reports net working capital $13.7M.
February 1, 2016
18:05 EDTEOXEmerald Oil negotiating borrowing base deficiency with lending group
Emerald Oil is continuing to negotiate with the lending group associated with its revolving credit facility to cure the outstanding borrowing base deficiency. On January 14, the company made a presentation to the lending group regarding a possible cure to the borrowing base deficiency, and the company expects to receive a response in the near future. For the time being, the company has elected not to extend the forbearance agreement that expired on January 29, but will continue to evaluate the merits of such an extension. Emerald has engaged legal advisor Kirkland & Ellis, who will join financial advisor Opportune LLP and investment banker Intrepid Partners, LLC, to advise management and the board of directors on lender negotiations and capital structure options.
10:00 EDTCXOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
06:44 EDTCXOConcho Resources upgraded to Buy from Neutral at SunTrust
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