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Stock Market & Financial Investment News

News Breaks
June 24, 2014
10:00 EDTSO, MEOH, IDXX, WEC, OXLC, MTOR, SRC, MU, INWK, CGG, HTGC, CDEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CGG SA (CGG) upgraded to Buy from Hold at Societe Generale... Coeur Mining (CDE) upgraded at BMO Capital... Hercules Technology (HTGC) upgraded to Outperform from Market Perform at Wells Fargo... IDEXX (IDXX) upgraded to Buy from Hold at Canaccord... InnerWorkings (INWK) upgraded to Buy from Hold at Craig-Hallum... Meritor (MTOR) upgraded to Buy from Fair Value at CRT Capital... Methanex (MEOH) upgraded at BMO Capital... Micron (MU) upgraded to Strong Buy with $50 price target at Needham... Oxford Lane (OXLC) upgraded to Buy from Neutral at Ladenburg... Southern Company (SO) upgraded to Buy from Hold at Argus... Spirit Realty (SRC) upgraded at BofA/Merrill... Wisconsin Energy (WEC) upgraded to Outperform from Market Perform at Wells Fargo.
News For CGG;CDE;HTGC;IDXX;INWK;MTOR;MEOH;MU;OXLC;SO;SRC;WEC From The Last 14 Days
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August 24, 2015
07:41 EDTSOSouthern Company sees AGL Resources deal accretive to ongoing EPS in first year
Southern Company (SO) says expects to issue debt and equity as a result of the transaction to acquire AGL Resources (GAS), with equity issuances through 2019. Says deal will be accretive to ongoing EPS in first full year, with expected long-term EPS growth of 4%-5%. Sees opportunity to raise dividend growth rate, subject to board approval. Together, the companies will have over 1,500 bcf per year of combined natural gas consumption and throughput volume and approximately 9M regulated utility customers in nine states. Comments from slides that will be presented on the companies' conference call discussing the transaction.
07:33 EDTSOSouthern Company to acquire AGL Resources in $12B transaction=
Southern Company (SO) and AGL Resources (GAS) announced that the boards of directors of both companies have approved a definitive merger agreement to create America's leading U.S. electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12B, including a total equity value of approximately $8B. For Southern Company, this transaction is anticipated to be accretive to earnings per share in the first full year following the close of the transaction, accelerate expected long-term EPS growth to 4%-5%, preserve its strong financial profile and further support investment in the company's diversified energy platform, and enhance the ability to increase the growth rate of its dividend, subject to board of directors' approval. Under the terms of the agreement, AGL Resources' shareholders will be entitled to receive $66 in cash for each share of AGL Resources common stock. This represents a premium of 36.3% to the volume-weighted average stock price of AGL Resources over the last 20 trading days ended Aug. 21, 2015. After closing, AGL Resources will continue to maintain its own management team and board of directors, and, as is the case with Southern Company's other operating subsidiaries, AGL Resources will continue to maintain its own corporate headquarters, which for AGL Resources is in Atlanta. Customers will continue to be served by their current gas and electric utility companies. Until the transaction has received all necessary approvals and has closed, the companies will continue to operate as separate entities. Completion of the transaction is conditioned upon, among other things, the approval of the AGL Resources shareholders and certain state utility and other regulatory commissions. The transaction is also subject to the notification and clearance and reporting requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The companies expect to complete the transaction in the second half of 2016.
07:31 EDTSOSouthern Company to acquire AGL Resources in $12B transaction
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August 23, 2015
14:23 EDTMUApple, Micron shares look like bargains, Barron's says
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August 21, 2015
13:45 EDTOXLCOxford Lane comments on upcoming stock distribution
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10:02 EDTOXLCOn The Fly: Analyst Downgrade Summary
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10:02 EDTSRCOn The Fly: Analyst Upgrade Summary
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08:23 EDTOXLCOxford Lane downgraded to Neutral from Buy at Ladenburg
Ladenburg analyst Mickey Schleien downgraded Oxford Lane Capital to Neutral.
06:53 EDTSRCSpirit Realty upgraded to Outperform from Neutral at Baird
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August 20, 2015
16:00 EDTMUOptions Update; August 20, 2015
iPath S&P 500 VIX Short-Term Futures up 1.49 to 17.70. Option volume leaders: AAPL BAC FB NFLX DIS INTC BABA MU
11:12 EDTMUStocks with call strike movement; MU TWTR
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10:00 EDTMUOn The Fly: Analyst Downgrade Summary
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09:20 EDTMUOn The Fly: Pre-market Movers
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07:28 EDTMUBaird downgraded Micron to Neutral on falling DRAM prices
Baird analyst Tristan Gerra downgraded Micron to Neutral from Outperform and lowered his price target to $15 from $36 on DRAM price concerns. Gerra believes blended DRAM pricing could fall 20%+ between now and next year, down to fully loaded costs before capacity cuts take place. The analyst said continued PC unit weakness, soft enterprise server, mobile DRAM weakness, and excess channel inventories are causing the current downturn. Gerra expects Micron's gross margin and earnings to bottom in the February quarter and sees little upside potential until then.
August 19, 2015
16:14 EDTSOGeorgia Power reaches 'milestone' in Vogtle nuclear expansion
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10:00 EDTMEOHOn The Fly: Analyst Downgrade Summary
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07:38 EDTMEOHMethanex downgraded to Outperform from Strong Buy at Raymond James
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August 18, 2015
14:18 EDTSOGeorgia Power announces PSC approval of $169M in capital, construction costs
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09:39 EDTMUActive equity options trading on open
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05:55 EDTMUDRAMeXchange: Global mobile DRAM revenue up 7.7% in Q2, DigiTimes reports
Global sales of mobile DRAM increased 7.7% sequentially to $3.85B while global sales of overall DRAM decreased 4.8% to $11.4B in Q2, reports DigiTimes, citing DRAMeXchange. Mobile DRAM prices were less affected by falling prices for PC DRAM chips when compared to other types of DRAM. Prices for PC DRAM chips, which fell 15% in July, are forecast to drop an overall 30% in the third quarter of 2015. Reference Link
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