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Stock Market & Financial Investment News

News Breaks
April 22, 2014
10:00 EDTZION, VLO, RCI, FGL, DB, Z, TSM, QEP, E, DFRG, WEC, RUSHA, FTR, DEO, CWHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CommonWealth REIT (CWH) downgraded to Sell from Hold at Stifel... Del Frisco's (DFRG) downgraded to Market Perform from Outperform at Raymond James... Deutsche Bank (DB) downgraded to Neutral from Buy at UBS... Diageo (DEO) downgraded to Market Perform from Outperform at Raymond James... Eni SpA (E) downgraded to Neutral from Buy at UBS... Fidelity & Guaranty Life (FGL) downgraded to Neutral from Outperform at Credit Suisse... Frontier Communications (FTR) downgraded to Hold from Buy at Gabelli... QEP Resources (QEP) downgraded to Equalweight from Overweight at Barclays... Rogers Communications (RCI) downgraded to Sell from Hold at Canaccord... Rush Enterprises (RUSHA) downgraded to Underperform from Buy at BofA/Merrill... TSMC (TSM) downgraded to Neutral from Overweight at HSBC... Valero (VLO) downgraded to Neutral from Buy at BofA/Merrill... Wisconsin Energy (WEC) downgraded to Fair Value from Buy at CRT Capital... Zillow (Z) downgraded to Fair Value from Buy at CRT Capital... Zions Bancorp (ZION) downgraded to Equal Weight from Overweight at Evercore.
News For CWH;DFRG;DB;DEO;E;FGL;FTR;QEP;RCI;RUSHA;TSM;VLO;WEC;Z;ZION From The Last 14 Days
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June 29, 2015
10:51 EDTWECSupreme Court overrules EPA regulations on power plant pollution, The Hill says
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10:37 EDTWECWisconsin Energy completes acquisition of Integrys
Wisconsin Energy (WEC) announced it has completed the acquisition of Integrys Energy (TEG), forming the WEC Energy Group. The new company will provide electricity and natural gas to 4.4M customers across four states through its customer facing brands. The new dividend level for Wisconsin Energy shareholders as previously announced is effective today and represents an increase of 8.3% over the previous quarterly rate. The payout target for the combined company is 65%-70% of earnings. In connection with the acquisition, shares of Integrys common stock will be delisted and cease trading on the New York Stock Exchange before trading opens on June 30. Under the terms of the merger agreement, shareholders of Integrys will receive 1.128 shares of Wisconsin Energy Common stock and $18.58 in cash for each share of Integrys common stock they held immediately prior to the closing of the acquisition.
June 28, 2015
18:43 EDTEEni finalizes terms for 50% subsoil rights in Isatay
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17:05 EDTDBBank regulator probes 'Isdafix' benchmark manipulation, FT says
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June 26, 2015
15:14 EDTWECWisconsin Energy, Integrys deal to close on June 29
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14:46 EDTDBBaFin concludes Deutsche Bank acted 'negligently' over Libor rigging, FT reports
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11:15 EDTDEODiageo to sell Gleneagles to Ennismore Capital, Sky News reports
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10:00 EDTZIONOn The Fly: Analyst Upgrade Summary
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07:55 EDTDBHSBC hires Lilia Karboub to trade derivatives indexes in London, Bloomberg says
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06:51 EDTZIONZions Bancorp upgraded to Outperform from Neutral at Credit Suisse
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June 24, 2015
17:35 EDTRCIShaw Communications confirms Rogers Communications intention to acquire licenses
Shaw Communications (SJR) confirmed that Rogers Communications (RCI) announced its intention to exercise its option to acquire Shaw's spectrum licenses for advanced wireless service in British Columbia, Alberta, Saskatchewan, Manitoba and Northern Ontario. Rogers acquired the option as one of a number of transactions announced on January 14, 2013. On exercise of the option, Rogers would pay Shaw $100M. With the $50M purchase price for the option and $200M down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350M. The transaction is expected to close by the end of June.
13:42 EDTWECWisconsin Energy says Illinois approves acquisition of Integrys Energy
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10:11 EDTRCIRogers Communications to buy Mobilicity, acquire spectrum from Shaw
Rogers Communications (RCI) said it will immediately boost speed and quality for wireless customers in BC, Alberta and Southern Ontario as part of a series of transactions, as the company is completing the previously announced acquisition of Shaw's (SJR) AWS-1 spectrum and acquiring 100% ownership of Mobilicity. The company is also divesting, post transaction, certain AWS-1 spectrum to WIND Mobile that is contiguous to their spectrum holdings. As per the previously announced terms to complete the Shaw spectrum acquisition, Rogers will pay C$100M in addition to the down payments made when the agreement was originally announced in January 2013. The transaction with Mobilicity is supported and was facilitated by The Catalyst Capital Group, on behalf of investment funds managed by it, working closely with Rogers on the structuring of the transaction. The C$440M purchase price is offset by tax losses valued at approximately C$175M which Rogers will acquire. The transaction is subject to working capital adjustments. Following the acquisition of spectrum from Shaw and Mobilicity respectively, Rogers and WIND will undertake an AWS-1 spectrum swap in Southern Ontario to create contiguous spectrum for Rogers. Rogers will also divest certain non-contiguous AWS-1 spectrum to WIND Mobile in BC, Alberta, Saskatchewan, Manitoba and Northern Ontario and Eastern Ontario. The purchase of Mobilicity is subject to approval by the Competition Bureau and the Court. The transactions have been approved by Industry Canada.
07:19 EDTDBJPMorgan names Nachimowski head of chemicals dealmaking in EMEA, Bloomberg says
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05:28 EDTDEODiageo reinstated with a Buy at BofA/Merrill
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June 23, 2015
19:49 EDTRCIMobilicity accepts $400M bid from Rogers, Globe and Mail says
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10:00 EDTDEOOn The Fly: Analyst Upgrade Summary
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09:00 EDTRCITelus, BCE, Rogers to roll out mobile payments app, Bloomberg reports
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05:28 EDTDEODiageo upgraded to Buy from Neutral at Nomura
Nomura upgraded Diageo to Buy saying growth should start to accelerate while negative news flow ends.
June 21, 2015
17:19 EDTRCITELUS, Rogers compete for Mobilicity, Globe and Mail says
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