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Stock Market & Financial Investment News

News Breaks
February 28, 2014
09:02 EDTEXH, ACMP, EXLP, CHKChesapeake announces midstream compression asset sales
Chesapeake Energy Corporation (CHK) announced the execution of two agreements to sell midstream compression assets for total proceeds of approximately $520M. Access Midstream Partners, L.P. (ACMP) and Exterran Partners, L.P. (EXLP) have agreed to purchase an aggregate of 437 compression units and related assets from Chesapeake subsidiary MidCon Compression, L.L.C. in two separate transactions which, subject to certain closing conditions, are expected to close before the end of the 2014 second quarter. Access Midstream Partners has agreed to purchase 103 compression units with a combined capacity of approximately 200,000 horsepower for $160M. The units service gathering systems in Ohio, Pennsylvania and West Virginia. Exterran Partners has agreed to purchase 334 compression units with a combined capacity of approximately 440,000 horsepower for approximately $360M. The units service gathering systems in Arkansas, Louisiana, Oklahoma, Texas and Wyoming. Chesapeake’s CFO, Domenic J. Dell’Osso, Jr., commented, “Chesapeake continues to streamline its overall portfolio to focus on our core assets. These sales are consistent with this strategy and will generate more than $500M towards improving our balance sheet, while having minimal impact on our 2014 cash flow guidance.”
News For EXLP;EXH;CHK;ACMP From The Last 14 Days
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November 25, 2014
11:23 EDTCHKChesapeake loses appeal to redeem bonds early, Reuters says
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08:27 EDTACMPWilliams Partners upgraded to Buy with $62 target at Jefferies
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November 18, 2014
07:19 EDTCHKChesapeake upgraded at Bernstein
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November 17, 2014
10:02 EDTCHKOn 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.
08:12 EDTCHKChesapeake upgraded to Outperform from Market Perform at Bernstein
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06:31 EDTEXHExterran to host conference call
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06:07 EDTEXHExterran reports financial, capital structure for spin off
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06:04 EDTEXHExterran to spin off international, fabrication businesses
The board of Exterran Holdings (EXH) announced that it has unanimously authorized management to pursue a plan to separate the company's international contract operations, international aftermarket services and global fabrication businesses into a standalone, publicly traded company, resulting in two independent companies. Upon completion of the transaction, Exterran Holdings, referred as RemainCo, will be a pure-play U.S. compression services business. RemainCo will hold interests in Exterran Partners, L.P. (EXLP), referred as SpinCo, which include the sole general partner interest and certain limited partner interests that together currently represent a 37 percent ownership interest in Exterran Partners, as well as all of the incentive distribution rights in Exterran Partners. In addition, RemainCo will own and operate the remaining U.S. contract operations and U.S. aftermarket services businesses currently owned by Exterran Holdings. The operations of Exterran Partners will not be affected by the transaction. SpinCo’s businesses will consist of Exterran Holdings’ current international contract operations and aftermarket services businesses, with operations in Latin America and parts of the Eastern Hemisphere, and its global fabrication business.

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