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Stock Market & Financial Investment News

News For BP;DOW From The Last 14 Days
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November 23, 2014
19:12 EDTBPIran may suggest 1M barrel a day cut at OPEC meeting, Bloomberg says
According to media reports in Iran, the Iranian oil minister Bijan Namdar Zanganeh may speak with Saudi Arabia’s Oil Minister Ali Al-Naimi on the sidelines of the OPEC meeting in Vienna this week to propose that OPEC cut its output target by as much as 1 million barrels a day, says Bloomberg. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
November 21, 2014
09:36 EDTDOWActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN TSLA BIDU CLF DOW LVS BABA TWTR GILD
08:47 EDTDOWDow Chemical, Third Point reach agreement to add four directors to board
The Dow Chemical Company (DOW) and Third Point LLC (TPRE) announced a comprehensive agreement to add four new, independent directors to Dow’s Board. Mark Loughridge, Ray Milchovich and R. “Steve” Miller will join the Board on January 1, 2015. Richard Davis will join in May 2015 following the 2015 Annual Meeting of Shareholders. The agreement also provides that: The four independent directors will be included in Dow’s nominees for election at the 2015 Annual Meeting. Third Point will vote in favor of the company’s nominees at the 2015 Annual Meeting. Thirteen directors will stand for election at the 2015 Annual Meeting. However, Dow has agreed to reduce the size of its Board to twelve members before its Annual Meeting in 2016. Third Point has agreed to a one year customary standstill and voting agreement. Dow and Third Point will be making no further public comment on the matter and both are pleased to have resolved the matter amicably and to have arrived at an agreeable path forward.
08:46 EDTDOWDow Chemical, Third Point reach agreement to add four directors to board
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November 18, 2014
18:26 EDTBPKeystone pipeline legislation voted down by U.S. Senate
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November 17, 2014
11:15 EDTBPBP to invest $200M to upgrade U.S., Belgian petrochemical plants
BP announced that it plans to invest over $200M to upgrade its purified terephthalic acid plants at Cooper River, South Carolina and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world. Reference Link
November 16, 2014
17:04 EDTDOWThird Point attempts 'golden leash' strategy in Dow Chemical fight, WSJ says
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November 14, 2014
17:07 EDTDOWSoros Fund Management gives quarterly update on stakes
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16:52 EDTBPGreenlight Capital gives quarterly update on stakes
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05:58 EDTBPLawsuit accuses BP of overcharging California agencies for natural gas, AP says
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November 13, 2014
17:38 EDTDOWDow Chemical says fundamentally disagrees with position outlined by Third Point
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17:06 EDTBPBP loses bid for new trial regarding negligence in oil spill, Bloomberg says
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14:17 EDTDOWThird Point creates board to guide Dow on increasing value
Dow Chemical shareholder Third Point said it "unveiled several constructive initiatives in its effort to increase the Company’s value." Third Point has launched www.Value-Dow.com, a website designed for "proactive shareholder engagement." The site includes a video narrative "detailing how Dow has fallen behind due to poor strategic decision-making by a Management team and Board best known for their track record of broken promises to shareholders." Third Point also has created an advisory board of executives with "substantive, relevant restructuring experience who are providing guidance on how Dow can increase value."
10:01 EDTDOWDow Chemical says Gulf Coast projects on track, on plan for start-up
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November 12, 2014
14:23 EDTDOWDow Chemical increases divestiture target to $7.0B-$8.5B by mid 2016
The Dow Chemical Company announced an increased divestiture target aligned to further enhance the value of its portfolio and support the company’s market-driven, integrated strategy. On track to complete its goal of realizing $4.5B-$6B in proceeds by year-end 2015, and with additional portfolio management actions underway, Dow is now increasing its divestiture target to $7.0B-$8.5B to be complete by mid-2016.
14:14 EDTDOWDow Chemical sees $1B added savings over next three years from cost measures
Dow Chemical said that as part of its ongoing and consistent drive to lower costs while increasing output that the company will continue to narrow its focus and streamline investments to deliver $1B in additional savings over the next three years.
14:13 EDTDOWDow Chemical to reduce equity base in Kuwaiti joint ventures
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14:13 EDTDOWDow Chemical raises divestiture target to $7B-$8.5B by mid-2016
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14:10 EDTDOWDow Chemical realigns external reporting segments
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14:08 EDTDOWDow Chemical to sell ANGUS Chemical to Golden Gate Capital for $1.215B
Dow Chemical announced that it has signed a definitive agreement under which ANGUS Chemical Company will be sold to Golden Gate Capital for $1.215B. The transaction is expected to close during the first quarter of 2015, subject to completion of customary regulatory filings. Dow had previously announced its intent to divest this business on Oct. 2. The divestiture aligns to Dow’s efforts to achieve its identified target of $4.5B-$6B in proceeds from shedding non-strategic assets and businesses by year-end 2015. To date, Dow has achieved $2.5B in proceeds designed to remunerate shareholders, reduce debt, and fund growth. The divestiture of ANGUS includes the business headquarters and R&D facility in Buffalo Grove, IL; manufacturing facilities located in Sterlington, LA, and Ibbenbueren, Germany; a packaging facility in Niagara Falls, NY; as well as the associated business, inventory, customer contracts, process technology, business know-how and certain intellectual property. Approximately 290 employee positions globally are expected to transition employment status as ANGUS moves to being owned by Golden Gate Capital as part of the transaction. Under terms of the purchase agreement, ANGUS will continue to honor customer, licensing and supplier contracts and related agreements.
14:06 EDTDOWDow Chemical announces sale of ANGUS Chemical for $1.215B
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07:34 EDTDOWDow Chemical raises dividend 14%, adds $5B to share buyback program
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07:31 EDTDOWDow Chemical raises dividend 14% to 42c per share
07:31 EDTDOWDow Chemical announces new $5B tranche to share repurchase program
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November 11, 2014
09:00 EDTBPBP, Total exploration efforts undeterred by $80 per barrel oil, Bloomberg says
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November 10, 2014
15:57 EDTBPWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
10:04 EDTBPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:40 EDTBPBP to invest $240M in two new exploration blocks in Egypt
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07:37 EDTDOWGolden Gate the lead bidder for Dow Chemical unit, Reuters reports
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06:25 EDTBPBP downgraded to Neutral from Overweight at JPMorgan
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