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Stock Market & Financial Investment News

News Breaks
January 13, 2014
07:05 EDTEOXEmerald Oil upgraded to Buy from Accumulate at Global Hunter
Global Hunter upgraded Emerald Oil to reflect the accretive acquisition of 20,800 net acre in the Bakken. Price target raised to $12 from $10.
News For EOX From The Last 14 Days
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October 13, 2015
09:24 EDTEOXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Aoxing Pharmaceutical (AXN), up 15.5%. ALSO HIGHER: Wausau Paper (WPP), up 38.4% after announcing that it will be acquired by SCA... Protalix (PLX), up 12% after selling its share in the collaboration agreement for Elelyso to Pfizer (PFE)... AB InBev (BUD), up 1.5% following an agreement in principle with SABMiller (SBMRY)... Molson Coors (TAP), up 9.3% following an agreement in principle between AB InBev and SABMiller... Twitter (TWTR), up 3% after disclosing that it will cut about 8% of workforce. DOWN AFTER EARNINGS: Johnson & Johnson (JNJ), down 1.9%... Del Frisco's (DFRG), down 5.1%. ALSO LOWER: Emerald Oil (EOX), down 20.3% after revolving credit line cut to $120M from $200M... HeartWare (HTWR), down 16% after announcing that it may not re-initiate enrollment in its MVAD clinical trial in November... JetBlue (JBLU), down 6% after reporting September traffic... Arch Coal (ACI), down 5.4% after being downgraded to Underweight from Neutral at JPMorgan.
08:49 EDTEOXEmerald Oil revolving credit line cut to $120M from $200M
Last night, Emerald Oil announced that, effective as of October 6, the borrowing base under its revolving credit facility has been decreased to $120M from $200M as part of the company's regularly scheduled semi-annual redetermination by its lenders. The previously announced term loan facility was not consummated, and the company proceeded with its regularly scheduled October borrowing base redetermination. The decrease in the borrowing base has resulted in a deficiency of approximately $19.6M. Emerald and its advisors are negotiating with the bank group regarding a repayment schedule and continues to work with a group of second lien term providers for a term debt solution. Emerald has retained financial advisor Opportune, investment banker Intrepid Partners, and legal advisors Mayer Brown to advise management and the board of directors on capital structure options, the company said.
October 2, 2015
08:06 EDTEOXEmerald Oil completes transaction with Koch Exploration
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