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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:57 EDTAPC, CHK, APA, FTI, CAMDirector of IEA says U.S. must reform oil export policies, FT says
Maria van der Hoeven, the executive director of the International Energy Agency, said in a contribution to Financial Times that the shale gas boom has exposed "a misalignment between resources and regulations" that must be addressed before "the great American oil boom goes bust." Van der Hoeven added that "either US crude is shipped abroad or it stays in the ground." Reference Link
News For CHK;APA;FTI;CAM;APC From The Last 14 Days
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August 19, 2014
08:10 EDTFTIFMC Technologies awarded order by Petrobras
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August 18, 2014
17:23 EDTAPAApache looks cheap, Barron's says
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12:19 EDTCAMIngersoll-Rand rises after agreeing to buy Cameron unit for $850M
Shares of Ingersoll-Rand (IR), which makes heating and air conditioning systems, are up after it announced an agreement to acquire the assets of Cameron International Corporation's (CAM) Centrifugal Compression division for $850M. WHAT'S NEW: Ingersoll-Rand this morning entered into an agreement to acquire Cameron's Centrifugal Compression division for $850M. The acquisition is expected to close before the end of the year, subject to regulatory approval. The Cameron unit generated sales of approximately $400M in 2013, has approximately 850 employees and operates from 12 global locations. The results of operations of the Centrifugal Compression business will be reported as discontinued operations for Cameron beginning in the third quarter. Ingersoll Rand plans to fund the acquisition through a combination of cash on hand and debt. WHAT'S NOTABLE: Ingersoll-Rand said it expects the acquisition to be accretive to EBITDA margins, EPS, and ROIC in 2015 and beyond. The company expects the acquisition to add 8c-10c per share to its earnings in 2015. The company anticipates moderate incremental debt, supported by additional earnings from Cameron and core earnings growth. Ingersoll adds that it foresees refinancing of $500M of 2015 debt, and continues to expect a 2014 share repurchase of $1.38B. Cameron said it is selling the unit to focus on its core markets. The company expects after-tax proceeds of about $600M from the sale, part of which it planned to use to support share buybacks. ANALYST REACTION: Following the announcement, Wells Fargo analysts estimated that the acquisition will be approximately 10c-15c accretive excluding impact from synergies and approximately 20c-25c with anticipated synergies. PRICE ACTION: Ingersoll-Rand jumped $1.49, or 2.46%, to $62.03 in intra-day trading, while Cameron is trading down 0.6% to $72.21.
09:02 EDTAPAApache confirms Canning Basin oil discovery offshore Western Australia
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06:44 EDTAPA, CHKNatural gas companies worried about regulatory outlook, The Hill says
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06:33 EDTCAMIngersoll-Rand to host conference call
Conference call to discuss agreement to acquire Cameron International Corporationís centrifugal compression division will be held on August 18 at 9:30 am. Webcast Link
06:32 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
Cameron (CAM) has announced that it has entered into a definitive agreement to sell its Centrifugal Compression business to Ingersoll Rand (IR) for cash consideration of approximately $850M, subject to closing adjustments. The decision to divest the Centrifugal Compression division was made after a careful review of Cameron's long-term business strategy to increase its focus on its core markets. The company's goal has been to identify a buyer that is more closely aligned with Centrifugal Compression's broad and global markets. Cameron expects to complete the sale of its Centrifugal Compression business prior to year end, subject to regulatory approval. The company estimates after tax proceeds from the sale to be approximately $600 million, and expects the net proceeds to support stock repurchases. In 2013, the Centrifugal Compression division had revenues of $396M. The results of operations of the Centrifugal Compression business will be reported as discontinued operations beginning in Q3.
06:31 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
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06:27 EDTCAMIngersoll Rand to acquire Cameron's centrifugal compressional division for $850M
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06:05 EDTAPAApache discovers oil field in Western Australia, WSJ reports
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August 14, 2014
17:00 EDTAPCGreenlight Capital gives quarterly update on stakes
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14:13 EDTCAMOmega Advisors gives quarterly update on stakes
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12:58 EDTAPAJANA Partners gives quarterly update on stakes
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
August 11, 2014
16:14 EDTCAMOneSubsea, Helix, Schlumberger to form subsea well intervention alliance
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06:01 EDTAPCStocks with implied volatility movement; S APC
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August 8, 2014
10:21 EDTAPCAnadarko calls active on renewed takeover chatter
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10:18 EDTAPCRumor: Anadarko moves up on renewed takeover chatter
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August 7, 2014
10:00 EDTCHKOn The Fly: Analyst Upgrade Summary
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07:48 EDTCHKChesapeake upgraded at Stifel
As noted earlier, Stifel upgraded Chesapeake to Buy from Hold. The firm believes that the company's Q2 results confirm that the company is becoming well-positioned from a capex efficiency perspective heading into 2015. The firm expects the company's 2015 production to come in at the high end of guidance, and it thinks the stock has reached a good entry point. Target $34.
06:22 EDTCHKChesapeake upgraded to Buy from Hold at Stifel
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