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Stock Market & Financial Investment News

News Breaks
June 20, 2014
13:38 EDTSRE, CBIChicago Bridge & Iron confirms FERC approval for Cameron LNG project
CB&I (CBI) confirms Cameron LNG, a subsidiary of Sempra Energy (SRE), received authorization from the Federal Energy Regulatory Commission to site, construct and operate a natural gas liquefaction and export facility at the site of the company's LNG receipt terminal in Hackberry, La. CB&I said the FERC permit is one of the last major regulatory approvals required to start construction on the natural gas liquefaction facility. The authorization approves the development of the three-train liquefaction facility that will provide an export capability of 12M tonnes per annum of LNG, or approximately 1.7B cubic feet per day, and will allow CB&I and its joint venture partner, Chiyoda, to access the site and begin construction later this year, the company said.
News For CBI;SRE From The Last 14 Days
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April 24, 2015
07:16 EDTCBIChicago Bridge & Iron price target raised to $61 from $51 at Deutsche Bank
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April 23, 2015
19:16 EDTCBIOn The Fly: After Hours Movers
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16:17 EDTCBIChicago Bridge & Iron awarded over $640M worth of contracts
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16:16 EDTCBIChicago Bridge & Iron reports Q1 EPS $1.21, consensus $1.14
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15:00 EDTCBINotable companies reporting after market close
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11:03 EDTSRESempra U.S. Gas & Power announces acquisition of Minnesota wind project
Sempra U.S. Gas & Power announced it has acquired the Black Oak Getty wind project in Minnesota from Geronimo Energy, LLC, a utility-scale wind and solar energy developer. When the 78-megawatt Black Oak Getty is completed, Sempra U.S. Gas & Power, along with its affiliates and joint-venture partners, will have wind facilities in seven states totaling more than 1,200 MW of generating capacity. The project is expected to employ about 250 workers at peak construction and be in commercial operation by late 2016. The entire power output from the wind farm has been sold to Minnesota Municipal Power Agency under a 20-year contract. Terms of the transaction were not disclosed.
08:17 EDTCBIChicago Bridge & Iron April weekly volatility elevated into Q1 and outlook
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05:50 EDTCBIStocks with implied volatility movement; TRN CBI
Stocks with implied volatility movement; Trinity Industries (TRN) 47, Chicago Bridge & Iron (CBI) 61 according to iVolatility.
April 20, 2015
15:16 EDTCBIGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTCBIEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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08:03 EDTCBIChicago Bridge & Iron awarded contract by NefteGazIndustriya
CB&I announced it has been awarded a contract by NefteGazIndustriya through project developer MAVEG, to provide engineering and procurement services for the Afipsky Oil Refinery in Krasnodar, Russia. CB&I's project scope includes early detail engineering and procurement services for multiple new process units, including a 2.5M ton per annum hydrocracker unit.
April 13, 2015
10:00 EDTSREOn The Fly: Analyst Upgrade Summary
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06:27 EDTSRESempra Energy upgraded to Buy from Neutral at Goldman
Goldman upgraded Sempra Energy to Buy with a $130 price target due to robust growth, additional value from Cameron LNG expansion, and value creation from a potential MLP/Yieldco.

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