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Stock Market & Financial Investment News

News Breaks
April 11, 2012
12:55 EDTCHK, CHK, CNX, CNX, SE, SESenate Commerce, Science and Transportation Committee to hold a field hearing
The Committee holds a field hearing entitled, "Shale Gas Development: Meeting the Transportation, Pipeline and Rail Needs to Renew American Manufacturing". Participants include VP Rotruck of Chesapeake Energy, VP Foracca of Spectra Energy, COO Albert of Consol Energy at the field hearing being held in Fairmont, West Virginia on April 11 at 1 pm.
News For CHK;CNX;SE From The Last 14 Days
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February 5, 2016
06:51 EDTCNXCONSOL announces E&P division proved reserves of 5.6 Tcfe in FY15
During 2015, CONSOL Energy added 934 Bcfe, net to CONSOL, of proved reserves through extensions and discoveries. As of December 31, 2015, total proved reserves were 5.6 Tcfe, which included 583 Bcfe, or 10.3%, of oil, condensate, and liquids. Marcellus Shale reserves account for 369 Bcfe, or 14.4%, of these heavier hydrocarbons. CONSOL Energy replaced 284% of its 2015 production, when considering increases from extensions and discoveries of 934 Bcfe. Production in 2015 was 329 Bcfe. During 2015, drilling and completion costs incurred directly attributable to extensions and discoveries were $618.3M. When divided by the extensions and discoveries of 934 Bcfe, this yields a drill bit finding and development cost of 66c per Mcfe, compared to 76c per Mcfe at year-end 2014. Future development costs for PUD reserves are estimated to be approximately $943M, or 48c per Mcfe.
05:38 EDTCHKStocks with implied volatility movement; XLU CHK
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February 4, 2016
08:41 EDTSESpectra Energy sees 2016 EBITDA $2.9B, DCF $1.31B
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07:12 EDTSESpectra Energy, Spectra Energy Partners provide assumptions for three-year plan
The company assumes: For all three years, natural gas liquids prices of 42 cents per gallon; natural gas prices of $2.50 per thousand cubic feet; and crude oil prices of $45 per barrel; Maintenance CapEx of $615 million in 2016, $625 million in 2017, and $640 million in 2018; Cash tax rates of 1.8% in 2016, 4.2% in 2017, and 14.8% in 2018; Investment of approximately $6 billion in expansion capital over the plan period, with $3.0 billion invested in 2016, $1.9 billion in 2017 and $1.2 billion in 2018; SEP's share of CapEx is about 61% in 2016, 68% in 2017, and 81% in 2018.
07:11 EDTSESpectra Energy expects dividend increase of 14c per share annually through 2018
Sees dividend coverage of 1.2x in 2016, 1.3x in 2017, and 1.1x in 2018.
07:10 EDTSESpectra Energy expects 2016 DCF up 6% to $1.4B
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February 3, 2016
13:55 EDTSESpectra Energy and Spectra Energy Partners to host analyst and investor meeting
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12:24 EDTSEOn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
06:39 EDTSESpectra Energy announces annual dividend increase of 14c per share for FY16
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06:32 EDTSESpectra Energy reports Q4 EPS 28c, consensus 32c
Reports Q4 operating revenue $1.32B, consensus $1.54B.
February 2, 2016
14:32 EDTSENotable companies reporting before tomorrow's open
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February 1, 2016
16:01 EDTCHKOptions Update; February 1, 2016
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09:02 EDTSESpectra Energy management to meet with JPMorgan
Meetings to be held in Boston/Philadelphia on February 4 and in Boston on February 5 hosted by JPMorgan,
January 29, 2016
06:54 EDTCNXCONSOL lowers E&P Division capital budget to about $205M-$325M
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06:52 EDTCNXCONSOL reports Q4 EPS (11c), consensus (9c)
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January 28, 2016
14:29 EDTCNXNotable companies reporting before tomorrow's open
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10:05 EDTCHKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Azure Midstream Partners (AZUR) downgraded at Stifel... Chesapeake (CHK) downgraded to Hold from Buy at Wunderlich... CorEnergy (CORR) downgraded at Stifel... DCP Midstream (DPM) downgraded to Hold from Buy at Stifel... DynCorp (DCP) downgraded at Stifel... Ericsson (ERIC) downgraded on challenging outlook at BMO Capital... H&E Equipment (HEES) downgraded to Neutral from Buy at UBS... Halcon Resources (HK) downgraded to Hold from Buy at Wunderlich... InvenSense (INVN) downgraded to Market Perform from Outperform at Barrington... Invitae (NVTA) downgraded to Market Perform from Outperform at Leerink... Kirby (KEX) downgraded to Sector Perform from Outperform at RBC Capital... MEG Energy (MEGEF) downgraded to Equal Weight from Overweight at Barclays... Metro (MTTRY) downgraded to Underweight from Neutral at JPMorgan... OSI Systems (OSIS) downgraded to Hold following Q2 miss at BB&T... Oasis Petroleum (OAS) downgraded to Hold from Buy at Wunderlich... Pan American Silver (PAAS) downgraded to Market Perform from Outperform at FBR Capital... Qualcomm (QCOM) downgraded to Market Perform from Outperform at William Blair... Range Resources (RRC) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Underperform from Market Perform at Bernstein... Royal Gold (RGLD) downgraded to Market Perform from Outperform at FBR Capital... SEI Investments (SEIC) downgraded to Underperform at Keefe Bruyette... SandRidge Energy (SD) downgraded to Sell from Hold at Wunderlich... Seadrill (SDRL) downgraded to Equal Weight from Overweight at Morgan Stanley... ServiceNow (NOW) downgraded to Neutral from Buy at MKM Partners... State Bank Financial (STBZ) downgraded to Hold from Buy at Sandler O'Neill... Sunoco Logistics (SXL) downgraded at Stifel... Tallgrass Energy GP (TEGP) downgraded to Hold from Buy at Stifel... Tallgrass Energy (TEP) downgraded to Hold from Buy at Stifel... Textron (TXT) downgraded to Hold from Buy at Drexel Hamilton... TripAdvisor (TRIP) downgraded to Underperform from Market Perform at Raymond James... Tupperware Brands (TUP) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Steel (X) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Neutral from Buy at UBS... Welltower (HCN) downgraded to Hold from Buy at Evercore ISI... Western Gas Partners (WES) downgraded to Hold from Buy at Stifel... Whiting Petroleum (WLL) downgraded to Hold from Buy at Wunderlich.
09:01 EDTCHKChesapeake downgraded to Hold from Buy at Wunderlich
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January 26, 2016
05:19 EDTCHKStocks with implied volatility movement; CHK FTR
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January 25, 2016
09:44 EDTCHKChesapeake downgraded to Sell from Hold at Tudor Pickering
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