New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 14, 2013
07:33 EDTSO, BPBP warned of threats in Algeria in 2011and 2012, WSJ reports
In 2011 and 2012, well before the recent terrorist attack on a natural-gas facility in Algeria, internal BP (BP) reports cautioned company staff that the killing of Osama bin Laden result in new threats from al Qaeda offshoots in Africa, reports the Wall Street Journal. The reports, seen by the Journal, anticipate the emergence of groups like the one that launched a deadly attack against the plant in In Amenas, Algeria, which BP operates in a joint venture with Algerian state-oil company Sonatrach and Norway's Statoil (STO). BP wouldn't comment.Reference Link
News For BP;SO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
August 26, 2015
08:24 EDTSOGlobal Power update represents loss of $70M in revenue, says William Blair
Subscribe for More Information
08:21 EDTSOGlobal Power Equipment announces termination of contract with Southern Company
Subscribe for More Information
August 24, 2015
16:23 EDTSOOn The Fly: Top stock stories for Monday
Subscribe for More Information
14:25 EDTBPBP refrains from trip to Iran amid U.S. sanction concerns, FT says
BP has chosen not to join U.K. foreign secretary Philip Hammond's trip to reopen the country's Iranian embassy due to concerns over U.S. sanctions that are still in effect, the Financial Times reports, citing people close to the company. "Sanctions are still in place and we will not do anything while that is the case. We are monitoring the situation and will take a look at the opportunities," said the company, according to the publication. Reference Link
12:17 EDTSOOn The Fly: Top stock stories at midday
Subscribe for More Information
11:50 EDTSOSouthern Company to host a news conference on AGL Resources acquisition
Subscribe for More Information
10:56 EDTSOSouthern Company says AGL shares were undervalued by markets
Subscribe for More Information
10:22 EDTSOSouthern Company sees selling $3B of stock to fund AGL Resources deal
Says AGL (GAS) acquisition better positions Southern Company (SO) to succeed in future with increasing gas prices. Says now is the right time for this transaction. Expects natural gas use in the U.S. will increase. Sees natural gas use to rise as much as 2.2 BCF per day by 2020. AGL Resources planning $5B in capital spending over the next five years. Southern Co. sees equity sales beginning later this year. Comments taken from companies' conference call discussing the transaction. In morning trading, Southern Company shares were down 2.88% to $44.48 and AGL Resources shares were up 27.14% to $60.85.
09:23 EDTBPGevo, Butamax enter global patent cross-license, settlement agreements
Subscribe for More Information
09:18 EDTSOOn The Fly: Pre-market Movers
Subscribe for More Information
07:46 EDTSOSouthern Company & AGL Resources to host joint conference call
Conference call to discuss merger agreement will be held on August 24 at 10 am. Webcast Link
07:41 EDTSOSouthern Company sees AGL Resources deal accretive to ongoing EPS in first year
Southern Company (SO) says expects to issue debt and equity as a result of the transaction to acquire AGL Resources (GAS), with equity issuances through 2019. Says deal will be accretive to ongoing EPS in first full year, with expected long-term EPS growth of 4%-5%. Sees opportunity to raise dividend growth rate, subject to board approval. Together, the companies will have over 1,500 bcf per year of combined natural gas consumption and throughput volume and approximately 9M regulated utility customers in nine states. Comments from slides that will be presented on the companies' conference call discussing the transaction.
07:33 EDTSOSouthern Company to acquire AGL Resources in $12B transaction=
Southern Company (SO) and AGL Resources (GAS) announced that the boards of directors of both companies have approved a definitive merger agreement to create America's leading U.S. electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12B, including a total equity value of approximately $8B. For Southern Company, this transaction is anticipated to be accretive to earnings per share in the first full year following the close of the transaction, accelerate expected long-term EPS growth to 4%-5%, preserve its strong financial profile and further support investment in the company's diversified energy platform, and enhance the ability to increase the growth rate of its dividend, subject to board of directors' approval. Under the terms of the agreement, AGL Resources' shareholders will be entitled to receive $66 in cash for each share of AGL Resources common stock. This represents a premium of 36.3% to the volume-weighted average stock price of AGL Resources over the last 20 trading days ended Aug. 21, 2015. After closing, AGL Resources will continue to maintain its own management team and board of directors, and, as is the case with Southern Company's other operating subsidiaries, AGL Resources will continue to maintain its own corporate headquarters, which for AGL Resources is in Atlanta. Customers will continue to be served by their current gas and electric utility companies. Until the transaction has received all necessary approvals and has closed, the companies will continue to operate as separate entities. Completion of the transaction is conditioned upon, among other things, the approval of the AGL Resources shareholders and certain state utility and other regulatory commissions. The transaction is also subject to the notification and clearance and reporting requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The companies expect to complete the transaction in the second half of 2016.
07:31 EDTSOSouthern Company to acquire AGL Resources in $12B transaction
Subscribe for More Information
August 23, 2015
17:49 EDTBPIran to increase oil production as BP, Shell express interest, Bloomberg says
Subscribe for More Information
August 20, 2015
06:10 EDTBPAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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
August 19, 2015
16:14 EDTSOGeorgia Power reaches 'milestone' in Vogtle nuclear expansion
Subscribe for More Information
August 18, 2015
14:18 EDTSOGeorgia Power announces PSC approval of $169M in capital, construction costs
Subscribe for More Information
August 17, 2015
10:03 EDTBPEmerson signs 10-year agreement with BP for enhanced oil and gas execution
BP (BP) and Emerson (EMR) have signed a global agreement for Emerson Process Management, a global business of Emerson, to provide automation technologies and aftercare services for BP's upstream oil and gas operations. The new 10-year agreement extends the existing arrangement between the companies, allowing Emerson to provide an expanded scope of technologies and expertise that help ensure safe and competitive projects and support BP's Field of the Future program for enhanced operating efficiency and oil recovery. The new agreement expands the companies' existing relationship on upstream projects. Under the scope of the new agreement, Emerson will continue to supply automation system technologies, including distributed control systems and safety instrumented systems, but will now also provide valves and measurement instruments as well as technologies for supervisory control and data acquisition, asset management, and machinery health monitoring.
06:45 EDTBPBP investors not sold on takeover talks, FT reports
Few BP investors have enough faith to buy into takeover talk given the company's own aggressive cost-cutting campaign might have eliminated the synergy upside to a potential purchaser, the Financial Times reports. Reference Link
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use