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Stock Market & Financial Investment News

News Breaks
February 7, 2013
16:33 EDTCLMT, MDUCalumet Specialty Products and MDU Resources announce joint venture
Calumet Specialty Products Partner (CLMT) announced that it has entered into a joint venture agreement with MDU Resources Group (MDU) to develop, build and operate a diesel refinery in southwestern North Dakota. The joint venture will be called Dakota Prairie Refining. Calumet's participation in the joint venture will be through a wholly-owned subsidiary, Calumet North Dakota. MDU Resources Group, Inc.'s participation will be through its wholly owned subsidiary, WBI Energy. The refinery is expected to process 20,000 barrels per day of Bakken crude oil primarily to produce diesel to serve strong product demand in the region. Construction of the refinery could begin late in the second quarter of 2013 with startup of the refinery expected late in the Q4 of FY14. The refinery's engineering and plant design are in the final stages, with total cost of the project estimated at approximately $300M The refinery is expected to employ approximately 100 people and will be located near Dickinson in Stark County, North Dakota. The capitalization of the joint venture is expected to be funded through contributions of $150M from MDU Resources Group and $75M from Calumet and proceeds of $75M from an unsecured syndicated term loan facility with the joint venture as the borrower. The term loan facility is expected to be funded prior to the end of the first quarter of 2013. Funding for the project will occur over the course of the construction period, with the majority of the direct funding by Calumet and MDU expected in 2014.
News For CLMT;MDU From The Last 14 Days
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October 17, 2014
10:00 EDTCLMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
07:07 EDTCLMTCalumet Specialty Products upgraded to Outperform at Wells Fargo
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05:33 EDTCLMTCalumet Specialty Products upgraded to Outperform at Wells Fargo
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October 14, 2014
16:08 EDTMDUAvista 'quietly' seeks buyer, Berkshire interested, TheDeal.com says
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