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Stock Market & Financial Investment News

News Breaks
February 11, 2014
10:01 EDTBPL, CSTM, TTM, RNA, MDRX, YDKN, UFCS, BWP, TTI, STLD, RS, RL, PRI, OKS, LRLCY, FNSR, CTL, BURL, FTIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Buckeye Partners (BPL) upgraded to Buy from Neutral at Citigroup... Burlington Stores (BURL) upgraded to Overweight from Equal Weight at Morgan Stanley... CenturyLink (CTL) upgraded to Outperform from Neutral at Macquarie... Finisar (FNSR) upgraded to Buy from Hold at Jefferies... L'Oreal (LRLCY) upgraded to Buy from Neutral at UBS... ONEOK Partners (OKS) upgraded to Buy from Neutral at Citigroup... Primerica (PRI) upgraded to Outperform from Market Perform at Keefe Bruyette... Ralph Lauren (RL) upgraded to Overweight from Neutral at Atlantic Equities... Reliance Steel (RS) upgraded to Buy from Neutral at BofA/Merrill... Steel Dynamics (STLD) upgraded to Buy from Neutral at BofA/Merrill... Tetra Technologies (TTI) upgraded to Outperform from Market Perform at Raymond James... Boardwalk Pipeline (BWP) upgraded to Buy from Neutral at Citigroup... United Fire & Casualty (UFCS) upgraded to Buy from Hold at Sandler O'Neill... Yadkin Financial (YDKN) upgraded to Buy from Hold at Sandler O'Neill... Allscripts (MDRX) upgraded to Buy from Hold at Maxim... Prosensa (RNA) upgraded to Outperform from Neutral at Wedbush... Tata Motors (TTM) upgraded to Buy from Neutral at Nomura... Constellium (CSTM) upgraded to Conviction Buy from Buy at Goldman... FMC Technologies (FTI) upgraded to Buy from Hold at Societe Generale.
News For BPL;BURL;CTL;FNSR;LRLCY;OKS;PRI;RL;RS;STLD;TTI;BWP;UFCS;YDKN;MDRX;RNA;TTM;CSTM;FTI From The Last 14 Days
Check below for free stories on BPL;BURL;CTL;FNSR;LRLCY;OKS;PRI;RL;RS;STLD;TTI;BWP;UFCS;YDKN;MDRX;RNA;TTM;CSTM;FTI the last two weeks.
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July 24, 2014
16:36 EDTOKSONEOK to invest $365M-$470M in Oklahoma SCOOP play
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16:32 EDTOKSONEOK Partners increases quarterly dividend to 76c from 74.5c
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July 23, 2014
14:55 EDTYDKNYadkin Financial upgraded to Outperform from Market Perform at Keefe Bruyette
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10:02 EDTMDRXOn The Fly: Analyst Upgrade Summary
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07:17 EDTMDRXAllscripts upgraded to Buy from Hold at Jefferies
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06:17 EDTYDKNYadkin Financial reports Q2 EPS ex items 30c, consensus 25c
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05:41 EDTMDRXAllscripts upgraded to Buy from Hold at Jefferies
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July 22, 2014
18:33 EDTFTIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Broadcom (BRCM), consensus up 3% after reporting second quarter results... Intuitive Surgical (ISRG), up 10.4%... Manhattan Associates (MANH), up 3%... Robert Half International (RHI), up 3.9%... Hawaiian Holdings (HA), up 3.1%... Microsoft (MSFT), up just under 1%... FMC Technologies (FTI), up 1.1%. ALSO HIGHER: Ballard Power Systems (BLDP), up 2.7% following purchase order from New Flyer Industries... Unwired Planet (UPIP), up 2.4% after filing a lawsuit against Microsoft for breach of contract. NOTABLE: Puma Biotechnology (PBYI), up 193.8% after reporting positive top line results from Phase III PB272 trial. DOWN AFTER EARNINGS: Xilinx (XLNX), down 8.7%... Apple (AAPL), down after reporting third quarter results and fourth quarter guidance... Juniper Networks (JNPR), down 4.7%... ALSO LOWER: Farmland Partners (FPI), down 3.8% after filing to sell 3.72M shares of common stock.
16:19 EDTFTIFMC Technologies reports backlog $7.3B
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16:18 EDTFTIFMC Technologies raises FY14 EPS view to $2.70-$2.80 from $2.55-$2.75
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16:16 EDTFTIFMC Technologies reports Q2 EPS 95c with items, consensus 63c
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15:30 EDTFTINotable companies reporting after market close
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07:52 EDTSTLDSteel Dynamics shares can advance further, says Wells Fargo
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July 21, 2014
18:02 EDTSTLDSteel Dynamics reports Q2 EPS 31c, consensus 31c
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10:31 EDTSTLDHigh option volume stocks:
High option volume stocks: EZPW LCI STLD SIAL FL OREX CROX NIHD EXTR BBT
08:16 EDTFTIFMC Technologies signs agreement to develop susbsea equipment and systems
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06:51 EDTSTLDSteel Dynamics to host conference call
Conference call to discuss agreement to acquire Severstal Columbus will be held on July 21 at 9:30 am. Webcast Link
05:23 EDTSTLDSteel Dynamics to acquire Severstal Columbus for $1.63B
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July 20, 2014
20:02 EDTTTITetra Technologies announces Compressco to purchase CSI for $825M in cash
TETRA Technologies (TTI) announced that its majority owned, publicly-traded partnership, Compressco Partners (GSJK), has entered into a definitive agreement to purchase all the outstanding shares of Compressor Systems, CSI, for $825M in cash, subject to working capital and other adjustments.This acquisition is expected to increase Compressco's total horsepower offering from approximately 187,000 to over 1,045,000, and will allow Compressco to utilize an expanded range of compressor packages for compression services to customers. It is anticipated that this expansion of Compressco's service offerings will allow the Partnership to participate in the compression market at a broader level. For the twelve months ended March 31, CSI's aggregate revenues were $311M, and EBITDA was $82.3M. Compressco has obtained committed financing to complete the transaction, which is expected to close in early August. However, it is currently anticipated that financing will include Compressco's issuance of approximately $400M of public equity and $350M of publicly-rated senior notes, with the balance being drawn from a $400M revolving credit facility. TETRA expects to purchase common units in the equity offering and make contributions to maintain its approximate 2% general partner interest in an aggregate amount of up to $40M. Stuart Brightman, TETRA's President and CEO, and Chairman of the Board of Compressco, commented, "This acquisition is the next step in a series of strategic moves to position TETRA to generate improved and more predictable earnings and cash flows. We are excited to acquire a company with such a strong reputation in the industry, a diverse product offering, a solid management team, and a robust customer base. In addition, we believe that this acquisition will allow TETRA to significantly increase our cash flow from Compressco. We expect to create synergies of between $5M and $10M on an annualized basis, beginning in 2015." The combined organization will be led by Tim Knox, CSI's current President. Ron Foster will take on the role of Senior Vice President and Chief Marketing Officer, and James Rounsavall will serve as CFO. Brightman continued, "Based on a number of specific assumptions, we understand that Compressco management expects to be able to recommend to its Board of Directors a 12-14% increase in the cash distribution per outstanding common unit attributable to the quarter ending December 31, compared to the $0.4525 distribution per outstanding unit, or $1.81 per outstanding unit on an annualized basis, attributable to quarter ended June 30. To meet the strong demand for compression services, following the acquisition, we expect to grow capital expenditures to between $90M and $100M in 2015, which will provide incremental revenues and is expected to facilitate additional increases in cash distributions. Compressco currently expects to generally maintain a coverage ratio of 1.2 times distributable cash flow to distributions, consistent with our past practices." Following the transaction, it is currently expected that TETRA's ownership of the Partnership will be reduced to approximately 46%. TETRA will maintain 100% ownership of the Partnership's general partner, and will continue to consolidate the results of Compressco in its financial statements.
13:15 EDTSTLDSeverstal close to U.S. plant sales to Steel Dynamics, AK Steel, Bloomberg says
Russian steelmaker OAO Severstal is set to sell two U.S plants to Steel Dynamics (STLD) and AK Steel (AKS) in a deal that may value the assets at just over $2B, says Bloomberg. Reference Link
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