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Stock Market & Financial Investment News

News Breaks
June 5, 2014
07:29 EDTWLL, XEC, ESCR, BCEI, PDCE, PVA, CPE, GDP, KOG, AXAS, EXXI, UNT, FTK, CAKIndependent Petroleum Association of America to hold a conference
IPAA OGIS Toronto to be held in Toronto, Canada on June 5.
News For CAK;KOG;BCEI;FTK;GDP;ESCR;UNT;CPE;XEC;EXXI;PVA;WLL;AXAS;PDCE From The Last 14 Days
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July 27, 2015
17:09 EDTBCEIBonanza Creek sees Q3 sales volume 28.6 Mboe/D
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17:04 EDTBCEIBonanza Creek reports Q2 EPS (14c), consensus (10c)
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10:00 EDTFTKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
09:21 EDTGDPOn The Fly: Pre-market Movers
HIGHER: Magnetek (MAG), up 53.5% after Columbus McKinnon (CMCO) agrees to acquire the company... Xueda Education (XUE), up 40.6% after merging with Xiamen Insight Investment... Box (BOX), up 4.6% after being upgraded to Overweight from Sector Weight at Pacific Crest... Goodrich Petroleum (GDP), up 6.4% after announcing sale of proved reserves and a portion of Eagle Ford leasehold. NOTABLE: Teva Pharmaceutical (TEVA), up 10.7% after acquiring Allergan Generics... Allergan (AGN) is up 6.3%... Mylan (MYL), down 14% after Teva withdraws proposal to acquire the company... Perrigo (PRGO), up 3% after Teva withdraws proposal to acquire Mylan. DOWN AFTER EARNINGS: Sohu.com (SOHU), down 6%... Changyou.com (CYOU), down 10.1%. ALSO LOWER: Bellerophon (BLPH) down 63% after announcing results of BCM clinical trial... Terex (TEX), down 4% after being downgraded to Sell from Neutral at Goldman... Ultragenyx Pharmaceutical (RARE), down 3.5% after being downgraded to Equal Weight from Overweight at Morgan Stanley...
08:03 EDTFTKFlotek upgraded on stronger demand at Oppenheimer
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06:16 EDTFTKFlotek upgraded to Perform from Underperform at Oppenheimer
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06:09 EDTGDPGoodrich announces sale of proved reserves, portion of Eagle Ford leasehold
Goodrich Petroleum announced that it has entered into a definitive agreement to sell its proved reserves and associated leasehold in the Eagle Ford Shale in LaSalle and Frio Counties, Texas for $118M, subject to purchase price adjustments as provided for in the Purchase and Sale Agreement. The effective date of the transaction is July 1 with an expected closing date on or before September 4. The company is retaining approximately 58% of its undeveloped leasehold in the play for future development or sale. The asset being sold produced an average of approximately 2,850 barrels of oil equivalent per day during Q1. The company expects to book a gain of approximately $50M-60M on the sale at closing after factoring in customary closing adjustments. The company plans to pay off its bank revolver and retain the difference in cash from the sales proceeds.
July 24, 2015
09:24 EDTBCEIBonanza Creek is 'really attractively valued,' says Wunderlich
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05:45 EDTEXXIStocks with implied volatility movement; EXXI HPQ
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July 23, 2015
11:22 EDTAXASAbraxas Petroleum 'unaware' of reason for recent stock price underperformance
Abraxas Petroleum Corporation commented on recent market conditions. Aside from weakness in the general commodity markets, Abraxas is unaware of any fundamental reason for the company’s recent stock price underperformance. Abraxas notes that the company exited June 30, 2015 $108 million borrowed on the company’s $165 million borrowing base. With an additional nine well completions during the quarter, and only bank deb in the Company’s capital structure, the company is very comfortable with its asset coverage. Additionally, with a $55 million capital program that approximates forecasted cash flow, the company remains comfortable this strong financial positioning should continue through 2015. Moreover, the company reiterates that in outer years, it currently forecasts it can hold production at over 7,000 boepd running a one rig Bakken program, which approximates a $50-$60 million capital program. Abraxas also reiterates the company’s 2015 production guidance of 6,500-7,000 boepd. Abraxas plans to close out the company’s second quarter production and financial results the week of July 27, 2015. In the coming week Abraxas will also have 30 day rates for the company’s four Bakken and two Eagle Ford completions. When these results are available, Abraxas will furnish them to the Street.
10:05 EDTFTKHigh option volume stocks
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09:18 EDTBCEIBonanza Creek valuation very compelling, says KeyBanc
KeyBanc says that Bonanza Creek has underperformed its peers by 33% since June. The firm reports that the company thinks the move is unfounded, and cannot identify a reason for the underperformance. The firm expects the company's Q2 production wto surpass expectations, potentially creating a short squeeze. Keybanc suggests that the company could become a takeover target, and it does not think that liquidity is a concern for the company.
09:13 EDTFTKOn The Fly: Pre-market Movers
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07:30 EDTFTKFlotek added to Best Ideas List at Stephens
Stephens added Flotek the the Best Ideas List citing the significant Q2 beat and believes Flotek can continue to grow even in a flat rig count environment . The firm rates Flotek an Overweight and increased its price target to $23 from $17 on shares.
06:17 EDTESCREscalera Resources Co. discloses sale of interests in Mesa Units for $12M
In a regulatory filing, Escalera Resources Co. disclosed that it entered into a Purchase and Sale Agreement with Vanguard Operating, an unaffiliated entity, pursuant to which the company will sell its interests in the Mesa Units located on the Pinedale Anticline in Southwestern Wyoming. The cash purchase price pursuant to the Agreement is $12M, subject to closing and post-closing adjustments. The company expects the sale to close on July 31, 2015. The proceeds will be used to reduce debt outstanding under the company’s credit agreement.
July 22, 2015
16:23 EDTFTKFlotek sees profitable growth for 2H15
While we are very pleased with our second quarter results, we understand that cyclical headwinds remain which will continue to provide challenges to our industry in the coming months," concluded CEO Chisholm. "However, as our second quarter results show, a more difficult environment has created an opportunity for Flotek to demonstrate the importance of performance adding technology in maximizing operator performance and, as a result new opportunities for Flotek's advanced chemistry technologies. Through the use of FracMax and the 'Flotek Store', we believe the third quarter should build on the success of the last three months and provide opportunities for profitable growth in the second half of the year."
16:22 EDTFTKFlotek reports Q2 adjusted EPS 2c, consensus (7c)
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15:24 EDTBCEIBonanza Creek unaware of reason for underperformance beyond commodity weakness
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July 21, 2015
09:38 EDTPVAPenn Virginia CEO retirement could increase M&A speculation, dealReporter says
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09:35 EDTPVAActive equity options trading on open
Active equity options trading on open: AAPL FB IBM TSLA BAC PVA NFLX
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