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Stock Market & Financial Investment News

News Breaks
June 5, 2014
09:59 EDTZ, VOLVY, SJR, PL, BHP, LTM, KOFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Sector Perform from Outperform at RBC Capital... Coca-Cola Femsa (KOF) downgraded to Neutral from Buy at Goldman... Life Time Fitness (LTM) downgraded to Neutral from Overweight at Piper Jaffray... Protective Life (PL) downgraded to Neutral from Buy at UBS... Shaw Communications (SJR) downgraded to Hold from Buy at TD Securities... Volvo (VOLVY) downgraded to Sell from Neutral at UBS... Zillow (Z) downgraded to Neutral from Buy at SunTrust.
News For BHP;KOF;LTM;PL;SJR;VOLVY;Z From The Last 14 Days
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July 1, 2015
18:20 EDTBHPShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link
10:00 EDTZOn The Fly: Analyst Initiation Summary
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June 30, 2015
17:10 EDTZZillow Group initiated with a Buy at Guggenheim
Target $120.
14:34 EDTBHPIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
June 25, 2015
08:07 EDTSJRShaw Communications reports Q3 EPS C$0.42, consensus C$0.49
Reports Q3 revenue C$1.42B, consensus C$1.42B.
06:01 EDTBHPBHP Billiton to cut 140 jobs in South Australia, Herald Sun reports
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June 24, 2015
17:35 EDTSJRShaw Communications confirms Rogers Communications intention to acquire licenses
Shaw Communications (SJR) confirmed that Rogers Communications (RCI) announced its intention to exercise its option to acquire Shaw's spectrum licenses for advanced wireless service in British Columbia, Alberta, Saskatchewan, Manitoba and Northern Ontario. Rogers acquired the option as one of a number of transactions announced on January 14, 2013. On exercise of the option, Rogers would pay Shaw $100M. With the $50M purchase price for the option and $200M down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350M. The transaction is expected to close by the end of June.
10:11 EDTSJRRogers Communications to buy Mobilicity, acquire spectrum from Shaw
Rogers Communications (RCI) said it will immediately boost speed and quality for wireless customers in BC, Alberta and Southern Ontario as part of a series of transactions, as the company is completing the previously announced acquisition of Shaw's (SJR) AWS-1 spectrum and acquiring 100% ownership of Mobilicity. The company is also divesting, post transaction, certain AWS-1 spectrum to WIND Mobile that is contiguous to their spectrum holdings. As per the previously announced terms to complete the Shaw spectrum acquisition, Rogers will pay C$100M in addition to the down payments made when the agreement was originally announced in January 2013. The transaction with Mobilicity is supported and was facilitated by The Catalyst Capital Group, on behalf of investment funds managed by it, working closely with Rogers on the structuring of the transaction. The C$440M purchase price is offset by tax losses valued at approximately C$175M which Rogers will acquire. The transaction is subject to working capital adjustments. Following the acquisition of spectrum from Shaw and Mobilicity respectively, Rogers and WIND will undertake an AWS-1 spectrum swap in Southern Ontario to create contiguous spectrum for Rogers. Rogers will also divest certain non-contiguous AWS-1 spectrum to WIND Mobile in BC, Alberta, Saskatchewan, Manitoba and Northern Ontario and Eastern Ontario. The purchase of Mobilicity is subject to approval by the Competition Bureau and the Court. The transactions have been approved by Industry Canada.
10:00 EDTBHP, VOLVYOn The Fly: Analyst Upgrade Summary
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05:31 EDTBHPBHP Billiton upgraded to Neutral from Underperform at Credit Suisse
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05:26 EDTVOLVYVolvo upgraded to Buy from Neutral at Goldman
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June 23, 2015
07:01 EDTBHPWestmoreland board approves purchase agreement for San Juan mine
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