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Stock Market & Financial Investment News

News Breaks
December 11, 2012
12:39 EDTKMI, CDZICadiz announces agreement with Kinder Morgan
Cadiz (CDZI) announced it has entered into a new agreement with Kinder Morgan (KMI) securing the company's ownership of a 96-mile natural gas pipeline linking its holdings in the Cadiz Valley to the northern and central California water delivery network. The exchange agreement divides 220 miles of pipeline currently under option to the company, with the company gaining ownership rights to the 96-mile eastern segment between Barstow and the Cadiz Valley and returning to Kinder Morgan rights to the 124-mile western segment. In 2010, Cadiz procured an option to purchase the 220-mile pipeline for $40M from El Paso Natural Gas, which was subsequently acquired by Kinder Morgan. Kinder Morgan is currently exploring expansion of its oil and gas transportation network between Texas and California and desired to purchase back the rights to the western segment of this line. The consideration that Kinder Morgan has paid Cadiz for this agreement has been made by way of a reduction in the purchase price of the 96-mile eastern segment of the pipeline to a nominal amount of $1 (one dollar). In addition, Kinder Morgan will pay the company a further $10M cash payment at the time it seeks regulatory approval for use of the western line.
News For CDZI;KMI From The Last 14 Days
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January 22, 2015
14:54 EDTKMIKinder Morgan to host analyst meeting
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09:42 EDTKMIKinder Morgan acquisition positive, says Wells Fargo
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January 21, 2015
18:27 EDTKMIOn The Fly: After Hours Movers
UP AFTER EARNINGS: eBay (EBAY), up 2.9%... United Rentals (URI), up 1.5%. ALSO HIGHER: Minerva (NERV), up 16.1% after reporting positive Phase 1 data with MIN-202... Endo (ENDP), up 3.1% after it was announced that Endo will replace Covidien in S&P 500 as of 1/26 close... Covidien (COV) is up 1%. DOWN AFTER EARNINGS: F5 Networks (FFIV), down 15.8%... Xilinx (XLNX), down 6.1%... Discover Financial Services (DFS), down 3.3%... American Express (AXP), down 2.2%. ALSO LOWER: BioMarin (BMRN), down 2.5% after filing to sell 7.25M shares of common stock... Kinder Morgan (KMI), down 1.9% after announcing that it will acquire Hiland Partners for approximately $3B and reporting fourth quarter results... Cisco (CSCO), down 1.4% after Bloomberg reported that Oracle's (ORCL) Ellison said that Oracle's new Virtual Compute Appliance is cheaper than Cisco's product.
16:36 EDTKMIKinder Morgan announces Steven Kean transitions to CEO effective June 1
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16:16 EDTKMIKinder Morgan backs expectation to declare dividends of $2 per share for 2015
16:15 EDTKMIKinder Morgan reports Q4 EPS 8c, may not compare to consensus 34c
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16:12 EDTKMIKinder Morgan increases quarterly dividend to 45c per share, up 10%
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16:05 EDTKMIKinder Morgan to acquire Hiland Partners for approximately $3B
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15:27 EDTKMINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.38; Kinder Morgan (KMI), consensus 34c; eBay (EBAY), consensus 89c; Discover Financial Services (DFS), consensus $1.30; Crown Castle (CCI), consensus $1.05; Crown Castle (SNDK), consensus $1.27; Xilinx (XLNX), consensus 61c; F5 Networks (FFIV), consensus $1.49; United Rentals (URI), consensus $2.07; Plexus (PLXS), consensus 72c; Boston Private Financial Holdings (BPFH), consensus 22c; Dolby Laboratories (DLB), consensus 38c; SLM (SLM), consensus 5c; East West Bancorp (EWBC), consensus 65c; Raymond James Financial (RJF), consensus 86c; BancorpSouth (BXS), consensus 32c.
January 14, 2015
08:55 EDTKMIKinder Morgan outlook positive, says RBC Capital
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January 13, 2015
06:19 EDTKMIKinder Morgan resumed with a Neutral from Buy at Citigroup
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