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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:35 EDTIEP, CVI, CVRRCVR Refining announces plans for 20M unit initial public offering
CVR Refining announced earlier this morning the launch of its initial public offering of 20M common units representing limited partner interests at a price of $24-$26 per unit. CVR Refining will list its common units on the New York Stock Exchange under the symbol "CVRR." After the offering, CVR Energy (CVI) will indirectly own common units representing approximately 86.4% of CVR Refining's outstanding units and CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. In addition, the majority stockholder of CVR Energy, Icahn Enterprises (IEP), has indicated that it or its affiliates may purchase up to 4M of CVR Refining's common units in the offering, in which case they will own approximately 2.7% of the outstanding common units. Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are acting as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International are acting as co-managers for the initial public offering. 
News For CVI;IEP;CVRR From The Last 14 Days
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February 27, 2015
17:41 EDTIEPIcahn Enterprises looks expensive, Barron's reports
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08:12 EDTIEPIcahn Enterprises reports Q4 EPS ($3.84), may not compare to consensus $1.76
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February 19, 2015
08:37 EDTCVRRCVR Refining reports Q4 throughputs of crude oil, others 212,263 bpd
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08:36 EDTCVRRCVR Refining reports Q4 EPS (73c), may not be comparable to consensus 62c
Reports Q4 revenue $1.77B, one estimate $1.77B. Net income for the 2014 fourth quarter was negatively affected by an unfavorable first-in, first-out accounting impact of $154.6M. CEO Jeff Lipinski commented, "Our fourth quarter results were significantly impacted by volatile crude and product markets, which resulted in low refining margins in December. Our results were further impacted by a 16-day outage of the Fluid Catalytic Cracking Unit at the Wynnewood refinery."
08:35 EDTCVICVR Energy reports Q4 Petroleum business sales $1.77B
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08:34 EDTCVICVR Energy reports Q4 EPS (51c), may not be comparable to consensus 69c
Q4 net income negatively affected by unfavorable FIFO accounting impact of $154.6M. Reports Q4 adjusted EBITDA $81.7M. Reports Q4 revenue $1.84B, one estimate $1.84B.
February 17, 2015
17:06 EDTIEPIcahn gives quarterly update on stakes, takes new stake in Manitowoc
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