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Stock Market & Financial Investment News

News Breaks
June 30, 2014
10:17 EDTDVN, LINEDevon Energy asset sale price beat expectations, says Wells Fargo
Wells Fargo said Devon Energy's (DVN) sale of its remaining non-core U.S. assets to LINN Energy (LINE) for $1.8B after tax beat the firm's conservative $1.1B estimate and topped the Street view that the deal would fetch $1.2B-$1.4B. Wells, which adds that the deal should be completed sooner than expected as well, keeps its Outperform rating on Devon Energy.
News For DVN;LINE From The Last 14 Days
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August 24, 2015
19:19 EDTLINELINN Energy, LinnCo appoint David Rottino CFO
LINN Energy (LINE) and LinnCo (LNCO) announced that David Rottino has been appointed as executive VP and CFO of both LINN and LinnCo, effective immediately. Rottino joined the company in June 2008 as senior VP and Chief Accounting Officer and has served as executive VP, Business Development and Chief Accounting Officer since January 2014. Kolja Rockov, executive VP and CFO, will be leaving the company to pursue other opportunities. This mutually agreed departure is not related to any disagreement with the company's policies or practices.
August 21, 2015
12:22 EDTDVNChanos say still short Exploration & Production space
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August 20, 2015
05:36 EDTLINELegacy Reserves downgraded to Neutral from Buy at UBS
UBS downgraded Legacy Reserve (LGCY) to Neutral after after stress testing upstream MLPs to reflect scenarios in which oil remains depressed and recovery is limited. The firm expects MLPs that are better capitalized, well hedged and less levered to crude oil to outperform. It lowered its price target for shares to $5.50 from $14. UBS coupled the downgrade with an upgrade of Mid-Con Energy (MCEP) to Buy. Other Buy-rated upstream MLPs at the firm are Vanguard Natural (VNR), Memorial Production (MEMP) and Eagle Rock Energy (EROC). Sell-rated names are LINN Energy (LINE) and LinnCo (LNCO).

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