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Stock Market & Financial Investment News

News Breaks
January 24, 2014
07:17 EDTPSX, VLO, HFC, TSO, NGLS, MRO, WNR, EPDPropane in short supply in U.S. due to cold snap, exports, FT says
The U.S. is undergoing a massive propane supply shortage amid a run of very cold weather and soaring exports of the fuel, as companies including Enterprise Products Partners (EPD) and Targa Resources Partners (NGLS) have expanded docks along the Gulf of Mexico and plan for increased export capacity, reported Financial Times. Reference Link
News For EPD;NGLS;VLO;WNR;TSO;PSX;MRO;HFC From The Last 14 Days
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November 19, 2014
16:35 EDTTSOTesoro's Chair of the Board Steven Grapstein to step down at year-end
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November 18, 2014
09:56 EDTPSXOn The Fly: Analyst Initiation Summary
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06:31 EDTTSOTesoro coverage resumed with a Conviction Buy at Goldman
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06:30 EDTPSXPhillips 66 coverage resumed with a Buy at Goldman
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06:29 EDTVLOValero coverage resumed with a Neutral at Goldman
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06:29 EDTWNRWestern Refining coverage resumed with a Neutral at Goldman
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November 17, 2014
10:02 EDTPSXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CyrusOne (CONE) upgraded to Buy from Hold at Stifel... MGIC Investment (MTG) upgraded to Conviction Buy from Buy at Goldman... NuVasive (NUVA) upgraded to Outperform from Market Perform at Wells Fargo... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Pinnacle Foods (PF) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Outperform from Sector Perform at RBC Capital.. Thoratec (THOR) upgraded to Outperform from Market Perform at Wells Fargo... Volcano (VOLC) upgraded to Outperform from Neutral at Credit Suisse... Progressive Waste (BIN) upgraded to Neutral from Underperform at Macquarie... Clean Harbors (CLH) upgraded to Outperform from Neutral at Wedbush... McGraw Hill Financial (MHFI) upgraded to Buy from Hold at Benchmark Co... Chesapeake (CHK) upgraded to Outperform from Market Perform at Bernstein... American Science & Engineering (ASEI) upgraded to Fair Value from Sell at CRT Capital... Sony (SNE) upgraded to Overweight from Equal Weight at Morgan Stanley.
07:12 EDTMRO, PSXBloomberg / Mayer Brown to co-host a conference
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05:48 EDTPSXPhillips 66 upgraded to Outperform from Neutral at Credit Suisse
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November 14, 2014
17:07 EDTPSXSoros Fund Management gives quarterly update on stakes
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16:39 EDTPSXBerkshire Hathaway gives quarterly update on stakes
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November 12, 2014
17:09 EDTHFCHollyFrontier declares special cash dividend of 50c per share
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08:35 EDTEPDEnterprise Products, Oiltanking Partners enter into merger agreement
Enterprise Products Partners (EPD) and Oiltanking Partners (OILT) announced that Enterprise and Oiltanking Partners have entered into a merger agreement. Under the terms of the merger agreement, Oiltanking Partners would merge with a subsidiary of Enterprise in a unit-for-unit exchange. Unitholders of Oiltanking Partners would receive 1.3 Enterprise common units for each Oiltanking Partners common unit. This exchange ratio represents a 5.6 percent premium to Oiltanking Partners unitholders based on the respective closing prices for Enterprise and Oiltanking Partners common units on September 30, 2014, the day before the merger was originally proposed. Relative to the respective closing prices for Enterprise and Oiltanking Partners common units on November 10, 2014, the day before the parties entered into the merger agreement, the 1.3 exchange ratio represents a 10.4 percent premium to Oiltanking Partners unitholders. Based on the latest cash distribution declared by Enterprise and Oiltanking Partners with respect to the third quarter of 2014, this exchange ratio would result in a 74 percent increase in cash distributions for Oiltanking Partners unitholders. The approval and adoption of the merger agreement require approval by holders of a majority of the outstanding Oiltanking Partners common units. A subsidiary of Enterprise, which will own a sufficient number of Oiltanking Partners common units to approve the merger on behalf of all Oiltanking Partners unitholders, has executed a support agreement with Oiltanking Partners in which it has irrevocably agreed to consent to the merger. This subsidiary will own approximately 54.8 million Oiltanking Partners common units, or approximately 66 percent of the total Oiltanking Partners common units then outstanding, following the conversion of approximately 38.9 million Oiltanking Partners subordinated units into common units. The one-for-one conversion of these subordinated units into common units will occur on November 17, 2014, the business day immediately following payment of the Oiltanking Partners cash distribution scheduled to be paid on November 14, 2014. Approval and adoption of the merger agreement will be submitted to a vote of the unitholders of Oiltanking Partners. Upon completion of the merger, which is expected to occur in early 2015, the total consideration paid by Enterprise for the Oiltanking Partners general partner and related incentive distribution rights and the limited partner units would be approximately $6.0 billion. The merger terms were negotiated, reviewed and approved by the conflicts committee of the board of directors of the general partner of Oiltanking Partners and approved by the board of directors of the general partner of Oiltanking Partners.
08:34 EDTEPDEnterprise Products, Oiltanking Partners enter into merger agreement
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07:31 EDTMROBofA/Merrill to hold a conference
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November 11, 2014
10:00 EDTNGLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
07:31 EDTNGLSTarga Resources Partners upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Targa Resources to Outperform based on valuation and relative total return potential. Price target remains $76.
November 10, 2014
15:43 EDTMRO, PSXAmerican Petroleum Institute to hold a conference
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November 7, 2014
08:59 EDTPSXPhillips 66 management to meet with JPMorgan
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07:19 EDTTSO, PSX, VLOPossible acquirers inspect Citgo refineries, Reuters says
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