New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 18, 2014
07:59 EDTBX, ECABlackstone in talks to buy Encana assets, NY Post says
Blackstone Group (BX) is in "serious talks" to buy some assets from Encana (ECA), according to The New York Post, citing two sources close to the situation. The report notes that Encana said in January it was willing to sell its Deep Panuke natural gas project off Nova Scotia, though the company's CEO subsequently has said that it was not actively trying to sell Deep Panuke. Reference Link
News For ECA;BX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 19, 2014
07:11 EDTBXPátria, Blackstone acquire four office buildings in Rio de Janeiro
Subscribe for More Information
December 16, 2014
12:26 EDTECAOn The Fly: Midday Wrap
Subscribe for More Information
10:57 EDTECACanadian energy stocks rise after Talisman acquired by Repsol
Shares of Canadian energy companies are higher this morning after Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash. WHAT'S NEW: Canada-based Talisman announced that it has agreed to be acquired by Spain's Repsol in a transaction valued at approximately $13B, including debt. Under the terms of the agreement, Repsol will buy all outstanding common shares of Talisman for $8 per share in cash. Also under the deal, Talisman will pay aggregate cash dividends of 18c per common share prior to closing. The Talisman board is recommending shareholders accept the deal at a special meeting to be held in mid-February 2015. The transaction is expected to close in the second quarter of 2015, Talisman said. Talisman Chairman Chuck Williamson noted that the deal will create "significant and immediate value" for the company's investors. WHAT'S NOTABLE: Repsol first explored a bid for Talisman in July, but talks slowed in late August. Earlier this month, Bloomberg reported the companies revived talks and The Wall Street Journal said "talks moved quickly" from there. Canada Pension Plan Investment Board, which initially considered buying parts of Talisman, was also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. ANALYST REACTION: Talisman Energy was downgraded this morning to Market Perform from Outperform at Bernstein. PRICE ACTION: Talisman Energy is up $2.43, or 47.5%, to $7.55 in morning trading and Repsol shares trading in New York are down 1.5% to $19.15. OTHERS TO WATCH: Other Canadian energy companies traded in New York include Encana (ECA), Suncor (SU), Canadian Natural Resource (CNQ) and Imperial Oil (IMO). Of note, Encana this morning announced a 2015 capital program of $2.7B-$2.9B, with about 80% directed to the Montney, Duvernay, Eagle Ford and Permian, its highest margin growth plays. The company expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. In morning trading, Encana shares rose 9.2% to $12.69, Suncor gained 5.3% to $28.33, Canadian Natural Resource added 4.8% to $28.62 and Imperial Oil advanced 2.5% to $40.88.
06:04 EDTECAEncana announces $2.7B$2.9B 2015 capital program
Encana announced a highly focused 2015 capital program of $2.7B-.$2.9B, with approximately 80% directed to four of its highest margin growth plays; the Montney, Duvernay, Eagle Ford and Permian. Encana expects to generate approximately 75% of its 2015 cash flow from oil and liquids production. The company estimates total liquids production will grow approximately 70% compared to 2014 to between 140,000 and 160,000 barrels per day, or bbls/d, and anticipates overall production of between 405,000 and 440,000 barrels of oil equivalent per day (boe/d). Encana expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. Encana is committed to protecting its balance sheet through a prudent capital investment program. The company's 2015 capital program is based on assumptions of $70 WTI oil prices and NYMEX natural gas prices of $4 per MMBtu. In addition, the company expects to generate net proceeds of around $800M in the Q1 of FY15 through the completion of the previously announced divestiture of the majority of its Clearwater assets and other anticipated transactions.
December 15, 2014
18:35 EDTBXCDL partners with Blackstone to create S$1.5B investment platform
Subscribe for More Information
08:22 EDTBXBlackstone initiated with an Overweight at Morgan Stanley
Subscribe for More Information
December 12, 2014
13:27 EDTECAEncana to hold a conference call
Subscribe for More Information
09:02 EDTBXKimco Realty to buy Blackstone 66.7% share stake in portfolio for $925M
Kimco Realty (KIM) announced that its subsidiary has executed a contract to acquire the remaining 66.667% interest in the 39-property Kimstone portfolio from its joint venture partner, a subsidiary of Blackstone Real Estate Partners VII (BX) for a price of $925M, which includes the assumption of approximately $426.7M in mortgage debt. The company will pay approximately $512.3M to acquire BREP’s interest. Kimco will use a combination of proceeds from recently completed and pending property sales in the U.S. and Latin America as well as availability under its existing $1.75B revolving credit facility to fund this transaction which is expected to be completed in the first quarter of 2015. Upon closing, Kimco will own 100% of the portfolio. The portfolio consists of 39 properties totaling 5.6M square feet and is approximately 97% occupied. The properties in the portfolio are concentrated in the core markets of New York, Virginia, Texas, Florida, California, and Maryland. The portfolio has a three-mile average household income level of $92,000 and an average base rent per square foot of $15.83, both of which exceed Kimco’s current portfolio averages.
08:09 EDTBXBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 11, 2014
07:49 EDTBXThe New York Times to hold a conference
Subscribe for More Information
07:21 EDTBXShell starts sale process for Tongyi JV stake, WSJ reports
Royal Dutch Shell (RDS.A) has started the sale process for 75% its stake in a Chinese oil lubricants business in a deal that could fetch up to $500M, The Wall Street Journal reports, citing sources. Blackstone (BX) is in a "strong" position in first round bids for the Tongyi oil lubricants joint venture, the sources say. Reference Link
05:54 EDTBXBlackstone implied volatility of 23 at lower end of index mean range
Subscribe for More Information
December 9, 2014
07:45 EDTBXGoldman to hold a conference
U.S. Financial Services Conference is being held in New York on December 9-10.
December 8, 2014
08:05 EDTBXHudson Pacific to acquire EOP portfolio from Blackstone for $3.5B
Subscribe for More Information
07:24 EDTBXBlackstone to sell $3.5B of California properties to Hudson Pacific, WSJ says
Subscribe for More Information
06:15 EDTBXBlackstone implied volatility of 21 at lower end of index mean range

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use