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Stock Market & Financial Investment News

News Breaks
October 25, 2013
11:37 EDTLNCO, LINE, BRYBerry Petroleum says merger can be terminated after October 31
Berry Petroleum (PERY) announced last night in a regulatory filing that if the closing of its proposed merger with LINN Energy (LINE) and LinnCo (LNCO) does not occur on or prior to October 31, any of the companies involved may unilaterally terminate the merger agreement. "There can be no assurances as to whether the parties will agree to extend the End Date or that the parties will refrain from exercising their rights to terminate the Merger Agreement," Berry stated. Shares of LINN Energy are trading down 5% to $26.85 while LinnCo shares are down 5% to $29.73. Berry Petroleum shares are little changed in late morning trading.
News For BRY;LINE;LNCO From The Last 14 Days
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August 24, 2015
19:19 EDTLINE, LNCOLINN Energy, LinnCo appoint David Rottino CFO
LINN Energy (LINE) and LinnCo (LNCO) announced that David Rottino has been appointed as executive VP and CFO of both LINN and LinnCo, effective immediately. Rottino joined the company in June 2008 as senior VP and Chief Accounting Officer and has served as executive VP, Business Development and Chief Accounting Officer since January 2014. Kolja Rockov, executive VP and CFO, will be leaving the company to pursue other opportunities. This mutually agreed departure is not related to any disagreement with the company's policies or practices.
August 20, 2015
05:36 EDTLINE, LNCOLegacy Reserves downgraded to Neutral from Buy at UBS
UBS downgraded Legacy Reserve (LGCY) to Neutral after after stress testing upstream MLPs to reflect scenarios in which oil remains depressed and recovery is limited. The firm expects MLPs that are better capitalized, well hedged and less levered to crude oil to outperform. It lowered its price target for shares to $5.50 from $14. UBS coupled the downgrade with an upgrade of Mid-Con Energy (MCEP) to Buy. Other Buy-rated upstream MLPs at the firm are Vanguard Natural (VNR), Memorial Production (MEMP) and Eagle Rock Energy (EROC). Sell-rated names are LINN Energy (LINE) and LinnCo (LNCO).
August 14, 2015
07:03 EDTLINECrude price slide has oil firms turning to private equity, Reuters reports
Another drop in crude oil prices has oil companies returning calls from potential buyers, Reuters reports. Oil firms may start relying on capital markets investors betting on a quick recovery in prices, the report says. "It didn't solve people's problems, so now when you roll to 2016 ...there will be an opportunity for private equity-backed companies with plenty of capital in place to go out and start buying," said Carl Tricolo, managing partner at private equity fund Denham Capital, in the report. Publicly traded companies in the space include Chesapeake Energy (CHK), American Electric Power Company (AEP), and Linn Energy (LINE). Reference Link

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