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Stock Market & Financial Investment News

News Breaks
March 12, 2013
08:07 EDTKMI, BRK.A, CNI, ENB, CP, TRPCanada, Keystone can learn from Buffett's BNSF railroad, WSJ reports
If you want to get a sense of what's going to happen with Canadian oil amid TransCanada's (TRP) Keystone XL pipeline battle, see Warren Buffett's (BRK.A) latest letter, reports the Wall Street Journal's "Heard on the Street." Buffett writes that his BNSF railroad company now transports 500,000 barrels of oil a day. Much is from the Bakken shale, where production growth has outpaced pipelines. The resulting local glut led the discount between Bakken oil and Brent crude to surge beyond $45 a barrel a year ago (narrowed now to $19). BNSF has driven its trains through that price gap, enabling Bakken producers to get their barrels to customers rather than slow production. Canadian oil producers face a tougher battle. Western Canadian Select is a relatively heavy grade of oil, so it should be cheaper than a lighter benchmark like Brent. But the discount, now $38 a barrel, owes much to transportation bottlenecks. The Canadian Association of Petroleum Producers forecasts production from Western Canada will hit 5.5M barrels a day by 2020, about double 2011's output. The bottom line: If Keystone doesn't get built, those ambitions will likely have to be scaled back. Reference Link
News For A;TRP;ENB;KMI;CP;CNI From The Last 14 Days
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February 11, 2016
12:47 EDTCPUPS warns against impact of Canadian-Norfolk merger, WSJ says
UPS (UPS) has voiced its criticism of any potential merger between railway operators Canadian Pacific (CP) and Norfolk Southern (NSC), warning that a combination "would lead to diminished rail intermodal service levels and increased costs for all segments of rail customers," reports the Wall Street Journal, citing a letter sent by UPS to the Surface Transportation Board. Reference Link
07:42 EDTTRPTransCanada proceeding with $13B of growth opportunities in-service by FY18
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07:41 EDTTRPTransCanada reports Q4 comparable EPS C$0.64 vs C$0.72 last year
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February 10, 2016
08:33 EDTCNICanadian National plans to invest C$2.9B in infrastructure, equipment
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07:11 EDTCP, CNIBB&T to hold a conference
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February 9, 2016
18:15 EDTCPNorfolk Southern issues statement regarding Canadian Pacific proposal
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13:59 EDTCPCanadian Pacific to file Norfolk shareholder proposal for good faith discussions
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11:49 EDTCPCanadian Pacific to give up proxy fight for Norfolk Southern, WSJ reports
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10:56 EDTCPCanadian Pacific to abandon proxy fight for Norfolk Southern, DJ reports
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February 5, 2016
16:12 EDTCNICanadian National announces share repurchase program
CN announced that it will repurchase common shares under a specific share repurchase program. The purchase will form part of the Normal Course Issuer Bid for up to 33M shares announced on Oct. 27, 2015. CN will enter into an agreement with a third party to repurchase common shares through daily purchases that will take place from March 1 or upon the completion of the previous agreement to March 11, subject to a maximum of 1.5M common shares.
February 4, 2016
15:59 EDTAOptions Update; February 4, 2016
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12:55 EDTAAgilent sues Twist, claiming trade secret theft, WSJ reports
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10:01 EDTENBOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Anglo Platinum (AGPPY) downgraded to Neutral from Overweight at JPMorgan... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Longbow... Changyou.com (CYOU) downgraded to Neutral from Outperform at Credit Suisse... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Esterline (ESL) downgraded to Hold at Drexel Hamilton... Franco-Nevada (FNV) downgraded to Neutral from Outperform at Credit Suisse... GoPro (GPRO) downgraded on results, guidance at Sterne Agee CRT... Heat Biologics (HTBX) downgraded to Speculative Buy from Buy at Cantor... Illumina (ILMN) downgraded to Hold from Buy at Canaccord... Intrawest Resorts (SNOW) downgraded to Neutral from Outperform at Macquarie... Match Group (MTCH) downgraded to Equal Weight from Overweight at Barclays... Memorial Resource (MRD) downgraded to Hold from Accumulate at Tudor Pickering... Pacific Biosciences (PACB) downgraded to Neutral from Overweight at Piper Jaffray... Peabody (BTU) downgraded to Underperform from Market Perform at FBR Capital... Peak Resorts (SKIS) downgraded to Underperform from Neutral at Macquarie... PennyMac Mortgage (PMT) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Underweight from Neutral at JPMorgan... Sensata (ST) downgraded to Neutral from Overweight at Atlantic Equities... Shutterfly (SFLY) downgraded to Neutral from Buy at BofA/Merrill... Star Bulk Carriers (SBLK) downgraded to Neutral from Speculative Buy at Seaport Global... Synchronoss (SNCR) downgraded at Stifel... Wabtec (WAB) downgraded to Neutral from Buy at Goldman.
07:40 EDTENBEnbridge downgraded to Neutral from Outperform at Credit Suisse
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February 3, 2016
10:32 EDTTRPTransCanada to create up to 120 new jobs in Quebec with ABB agreement
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February 2, 2016
16:35 EDTTRPTransCanada to announce major supply agreement with international firm
TransCanada invites members of the media to attend a press conference to announce the signing of a major supply agreement with an international firm. The agreement will mean jobs for Quebec stemming from the development of the Energy East Pipeline Project.
07:19 EDTCPPennsylvania dems raise concern over potential CP-Norfolk deal, Reuters says
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February 1, 2016
11:45 EDTKMIKinder Morgan closes acquisition of 15 BP terminals
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.
06:34 EDTTRPTransCanada needs to 'do its homework' to win Energy East permit, Reuters says
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