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March 12, 2013
05:55 EDTCBS, CBS, CBS, CBS, AAV, AAV, AAV, AAV, CVE, CVE, CVE, CVE, SU, SU, SU, SU, CNQ, CNQ, CNQ, CNQ, BTE, BTE, BTE, BTE, ERF, ERF, ERF, ERF, FE, FE, FE, FE, TRP, TRP, TRP, TRPFirstEnergy/Societe Generale to host a conference
East Coast Energy Conference is being held in New York on March 13-15.
News For CBS;AAV;CVE;SU;CNQ;BTE;ERF;FE;TRP From The Last 14 Days
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October 8, 2015
15:19 EDTCNQCanadian Natural upgraded to Peer Perform from Underperform at Wolfe Research
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09:37 EDTCVE, SUCenovus Energy could be target after Suncor went after COS, dealReporter says
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06:51 EDTTRPTransCanada agrees to acquire Ironwood power plant from Talen Energy
TransCanada Corporation (TRP) announced that it has reached an agreement to acquire the Ironwood natural gas fired, combined cycle power plant in Lebanon, Pennsylvania, with a nameplate capacity of 778 MW, from Talen Energy (TLN) for $654M. At closing, $42M in debt will be assumed and then repaid within 45 days of closing out of funds placed into escrow by the seller. The acquisition is expected to be immediately accretive to earnings and cash flow and generate approximately $90M-$110M in earnings before interest, taxes, depreciation and amortization annually through a combination of capacity payments and energy sales.
06:44 EDTTRPTalen Energy agrees to sell three PA power plants for $1.51B
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October 7, 2015
15:14 EDTCBSAmazon considering possible online service for live TV, Bloomberg says
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15:00 EDTCBSAmazon exploring potential online TV service, Bloomberg says
Amazon (AMZN) is said to have reached out to CBS (CBS) and Comcast's (CMCSA) NBCUniversal about online TV, according to Bloomberg.
09:46 EDTCBSConflict grows at Viacom board around chairman's health, WSJ says
Drama in the boardroom at Viacom (VIA) is brewing amid questions about the health of executive chairman Sumner Redstone, the Wall Street Journal says. Redstone has roughly an 80% voting stake in the company, the report says. Redstone's daughter, Shari Redstone, and Viacom CEO Philippe Dauman both have claims to a major position in Viacom following the death of Sumner, the report says. Redstone said in an emailed statement Tuesday that he established a trust decades ago to ensure that his controlling stake in Viacom and CBS (CBS) would be "professionally managed for the benefit of all shareholders" after he is gone, the report says. Reference Link
08:40 EDTTRPTransCanada announces binding open season for Cushing Marketlink
TransCanada launched an Open Season to obtain binding commitments from interested parties for transportation of crude oil on Cushing Marketlink from Cushing, Oklahoma to markets on the U.S. Gulf Coast. Interested parties may submit binding bids for transportation capacity during the Open Season that will close on November 6 at Noon MST. The anticipated commencement date for crude oil transportation service is early Q1 of 2016.
08:09 EDTSUCanadian Oil Sands sets new shareholder rights plan
Canadian Oil Sands (COSWF) announced today that its board has adopted a new Shareholder Rights Plan, effective immediately, in response to Suncor Energy (SU) announcement on October 5 that it is making an unsolicited all-share offer to acquire all of the outstanding common shares of Canadian Oil Sands. The New Rights Plan is designed to ensure that Canadian Oil Sands' Shareholders and the Board have adequate time to consider and evaluate Suncor's offer and any other unsolicited take-over bid or other strategic alternatives. Suncor initially approached the company in March with a letter that contained no offer and provided no basis for further discussions. The board then received a non-binding expression of interest on April 9, and with the assistance of its financial and legal advisors, the board carefully reviewed that proposal; it was unanimously rejected for several reasons as not being in the best interests of the company and its Shareholders and the board advised Suncor of that decision. When the board rejected the proposal on April 16, the price implied by Suncor's proposal for the Shares was at a discount to Canadian Oil Sands' closing price of $12.96 per Share on that day. Suncor's recent offer is substantially less than the proposal rejected by the board in April.
October 5, 2015
15:21 EDTSUCanadian Oils Sands to reject Suncor bid, unlikely to engage, Reuters says
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13:24 EDTSUCanadian Oil Sands says will review unsolicited Suncor offer
Canadian Oil Sands responded to the announcement by Suncor Energy that it is making an unsolicited offer to acquire all of the outstanding shares of Canadian Oil Sands. The board of directors of Canadian Oil Sands together with its advisors will review the Suncor offer and related take-over bid circular and will communicate a recommendation to shareholders as soon as possible, the company stated. The company had previously engaged RBC Royal Bank, as financial advisor, Osler, Hoskin & Harcourt, as legal advisor, and Kingsdale Shareholder Services, as strategic shareholder services advisor and information agent, who will now assist the board in responding. Shareholders will be promptly notified of any recommendation of the board through a news release and circular in accordance with the applicable securities law, Canadian Oil Sands said.
06:32 EDTSUSuncor commences offer for oustanding shares of COS Limited
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October 1, 2015
16:05 EDTCBSRentrak says all CBS TV owned & operated stations are Rentrak subscribers
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12:54 EDTCBSOptions with increasing call volume
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09:29 EDTCBSAmazon, CBS announce multi-year, multi-series content licensing agreement
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September 30, 2015
09:02 EDTTRPTransCanada to apply to Nebraska PSC to approve Keystone XL
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06:20 EDTTRPTransCanada to end legal fight with Nebraska landowners, Globe and Mail says
TransCanada is altering its strategy to get the Keystone XL pipeline built through Nebraska by ending a legal skirmish with landowners opposed to the project and instead going to the state's Public Service Commission for approval, the Globe and Mail reports. The company has been trying to achieve U.S. approvals for the $8B pipeline for the past seven years and has said that the new strategy is about avoiding an arduous legal process in Nebraska, the report says. Opponents of the project believe that TransCanada's shift in strategy is a sign that the company needs to reduce legal costs, the report says. Reference Link
September 29, 2015
13:09 EDTCBSGoogle to bring Showtime, NBA content to Chromecast
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September 28, 2015
11:01 EDTFEFENOC Beaver valley Power Station Unit 2 begins refueling, maintenance
FirstEnergy Nuclear Operating Company, or FENOC, a subsidiary of FirstEnergy Corp., announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, September 26, for scheduled refueling and maintenance. While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventative maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert super-heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower. More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
September 25, 2015
10:48 EDTCBSMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.

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