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July 3, 2014
09:56 EDTCMA, END, LAZ, NFX, RSPP, RGDO, RMD, SBGLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Comerica (CMA) downgraded to Neutral from Buy at Citigroup... Endeavour (END) downgraded to Market Perform from Outperform at FBR Capital... Lazard (LAZ) downgraded to Outperform from Strong Buy at Raymond James... Newfield Exploration (NFX) downgraded to Hold from Buy at Societe Generale... RSP Permian (RSPP) downgraded to Neutral from Buy at UBS... Regado Biosciences (RGDO) downgraded to Underperform from Outperform at Wedbush... ResMed (RMD) downgraded to Hold from Buy at Deutsche Bank... Sibanye Gold (SBGL) downgraded to Sell from Neutral at UBS.
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September 29, 2014
12:18 EDTRSPPOn The Fly: Midday Wrap
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11:26 EDTRSPPPermian stocks rally after Athlon bought by Encana
Shares of companies that obtain fossil fuels from the Permian Basin are climbing after one of the names in the sector, Athlon Energy (ATHL), agreed today to be acquired by Canadian energy giant Encana (ECA). Located in Texas and New Mexico, the Permian Basin has been yielding large amounts of oil recently. WHAT'S NEW: Encana agreed to buy Athlon for $58.50 per share in cash, or $5.9B, plus the assumption of debt for a total transaction value of approximately $7.1B. Encana noted that Athlon has about 140,000 net acres focused solely in the heart of the oil-rich Midland Basin within the Permian. "This transformative acquisition further accelerates our strategy and provides us with a prime position in what is widely acknowledged as one of North America's top oil plays," said Encana CEO Doug Suttles. Encana has been looking to increase its focus on oil and natural gas liquids and decrease its emphasis on natural gas. ANALYST REACTION: In a note to investors today, Sterne Agee analyst Tim Rezvan wrote that the Athlon deal provides "a very bullish price marker" for the other pure-play Permian stocks he covers. The terms of the deal suggest that Diamondback Energy (FANG) could jump 33%, while Energen (EGN) could rally 40%, the analyst wrote. PRICE ACTION: In late morning trading, Athlon surged 25% to $58.22 and Encana rose 2.5% to $21.67, Diamondback Energy advanced 2.6% to $75.52, Energen gained 1.5% to $74.14 RSP Permian (RSPP) and Parsely Energy (PE), two other exploration and production companies focused on the Permian Basin, were up 2.4% and 4.6%, respectively.
09:20 EDTRSPPOn The Fly: Pre-market Movers
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September 25, 2014
10:06 EDTCMAOn The Fly: Analyst Upgrade Summary
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06:10 EDTCMAComerica upgraded to Buy from Hold at Wunderlich
Wunderlich upgraded Comerica to Buy with a $65 price target citing valuation.
September 24, 2014
16:57 EDTRGDORegado Biosciences announces 60% workforce reduction, exploring alternatives
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12:05 EDTLAZLazard shares attractive after pullback, says Rafferty Capital
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September 22, 2014
09:09 EDTNFXNewfield Exploration closes sale of Granite Wash assets, updates 2014 guidance
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September 18, 2014
09:26 EDTNFXNewfield Exploration discloses position in the Springer Shale
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07:55 EDTENDEndeavour receives notice of non-compliance with NYSE listing standards
Endeavour has been notified by the NYSE that it is not in compliance with two of the NYSE's continued listing standards. The NYSE requires that the average closing price per share of a listed company's stock be in excess of $1.00 for a consecutive 30-trading day period. Under this continued listing criteria, Endeavour has a period of six months, subject to possible extension, to bring its average share price back over $1.00. The company's common stock expects to be listed and traded on the NYSE during this period. In addition, the company's total market capitalization has averaged less than $50M over a consecutive 30 trading-day period and its last reported shareholders' equity was also below $50M. Endeavour has 45-days from receipt of the NYSE notice to submit a business plan to the NYSE demonstrating how it intends to comply with the NYSE's continued listing standards. The company's stock expects to trade on the NYSE during the plan period.
September 17, 2014
07:40 EDTNFXUBS to hold a conference
Houston Energy Bus-less Tour is being held in Houston on September 17-19 with webcasted company presentations to begin on September 17 at 8:30 am; not all company presentations may be webcasted. Webcast Link
07:36 EDTLAZWolfe Research to hold a conference
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