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Stock Market & Financial Investment News

News Breaks
April 30, 2014
08:40 EDTUIL, FCELFuelCell awarded 5.6MW of power plants by United Illuminating
FuelCell (FCEL) announced another utility-scale award for two 2.8 megawatt DFC3000 fuel cell power plants by United Illuminating, part of UIL Holdings Corporation (UIL). One power plant will be located in Bridgeport, Connecticut as part of a distributed renewable power generation project that also includes a solar array. The second installation will be located within the UI service territory at a site to be named in the next 30 days. These two fuel cell plants will provide continuous baseload power to the electric grid adequate to power approximately 5,600 homes, generated in a highly efficient and environmentally friendly manner. FuelCell Energy will install the power plants and operate and maintain them for 20 years under long term service agreements. The plants are expected to be operational in early 2015.
News For FCEL;UIL From The Last 14 Days
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March 2, 2015
10:00 EDTUILOn The Fly: Analyst Downgrade Summary
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09:30 EDTUILUIL Holdings downgraded to Neutral from Outperform at RW Baird
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09:26 EDTUILUIL Holdings downgraded to Sell from Hold at Argus
Argus downgraded UIL after the company announced that it would be acquired by Iberdrola USA.
February 27, 2015
09:58 EDTUILOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
09:58 EDTUILOn The Fly: Analyst Upgrade Summary
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08:46 EDTUILUIL Holdings downgraded to Neutral from Outperform at RW Baird
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05:34 EDTUILUIL Holdings upgraded to Neutral from Underweight at JPMorgan
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February 26, 2015
16:52 EDTUILOn The Fly: Closing Wrap
Stocks on Wall Street moved in a narrow range for most of the session while remaining near record levels. The Nasdaq was the strongest of the indices, as it continues its march towards 5,000. Crude oil prices fell by over 5% during the regular trading session, but recovered a bit in after-hours trading. The market is on pace to complete its fourth consecutive week of gains and close out the month of February with gains after suffering losses in January. ECONOMIC EVENTS: In the U.S., the Consumer Price Index fell 0.7% in January, with the core rate rising 0.2%, versus expectations for the headline CPI to be down 0.6% and the core rate to rise 0.1%. Initial jobless claims rose 31K to 313K in the week ended February 21, versus expectations for 290K first-time claims. Durable goods orders rose 2.8% in January, versus expectations for a 1.6% increase. The FHFA home price index rose 0.8% to 218.6 in December, versus expectations for an increase of 0.5%. COMPANY NEWS: The Federal Communications Commission voted 3 to 2 in favor of adopting new open Internet, or "net neutrality," rules. FCC Chairman Tom Wheeler has proposed that the FCC use its Title II authority to implement and enforce "bright-line" rules to ban paid prioritization and the blocking and throttling of lawful content and services. However, Wheeler said his proposal will "modernize" Title II, insuring there will be no rate regulation, no tariffs, and no last-mile unbundling. Major Internet Service Providers, including Verizon (VZ), AT&T (T), and Comcast (CMCSA), have opposed the rules, while Netflix (NFLX) has been a strong and vocal supporter of open Internet provisions... Shares of International Business Machines (IBM) slipped $1.94, or 1.19%, to $160.87 after Big Blue held its investor day meeting in NYC. At the meeting, IBM backed its fiscal year profit view but also said that the company now expects currency to impact revenue growth by over 6 points for the full year, which is greater than the impact previously provided based on January 16 spot rates. IBM also said it was shifting $4B into "strategic initiatives," including Big Data, the Cloud, mobile, social and security... Barnes & Noble (BKS) rose $1.67, or 6.89%, to $25.92 after announcing plans to split its Education business from its Retail and NOOK Digital businesses. The separation into two independent, publicly traded companies is anticipated to be completed by the end of August and is intended to be a tax-free distribution to shareholders, B&N noted. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which jumped $1.57, or 24.69%, to $7.93 after the company agreed to be acquired by Avago Technologies (AVGO) for $606M, or $8 per share in cash. Avago also rose $16.57, or 14.71%, to $129.25 after announcing the deal and reporting "beat and raise" quarterly results. Also higher was UIL Holdings (UIL), which gained $9.74, or 23.01%, to $52.07 after the company agreed to be acquired by Iberdrola USA to create a newly listed U.S. publicly-traded company. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, the companies said. Among the noteworthy losers was Clayton Williams (CWEI), which fell $11.41, or 17.77%, to $52.79 after the company suspended drilling operations in both of its core resource plays, citing low oil prices, and its shares were downgraded at Wunderlich. Also lower following their earnings reports were network solutions provider Inteliquent (IQNT), which dropped $3.05, or 17.33%, to $14.55, and electric weapons maker TASER (TASR), which slid $4.36, or 16.14%, to $22.68. INDEXES: The Dow fell 10.15, or -0.06%, to 18,214.42, the Nasdaq gained 20.75, or 0.42%, to 4,987.89, and the S&P 500 declined 3.12, or 0.15%, to 2,110.74.
05:47 EDTUILUIL Holdings to combine with Iberdrola USA
Iberdrola USA and UIL Holdings announced that they have entered into a definitive agreement under which Iberdrola USA will acquire UIL and create a newly listed U.S. publicly-traded company. The agreement, which has been unanimously approved by both companiesí boards, creates a leading, diversified power and utility company in the Northeast. UILís current president and CEO, James Torgerson, will become the companyís CEO upon closing. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, representing a 24.6% premium to UILís closing share price on February 25, and a 19.3% premium to the average closing price over the past 30 days. The value of the stock consideration received is based on the mid-point of the combined companyís estimated 2016 and 2017 EPS valued at peer P/E multiples of 17.5x and 16.5x, respectively. The combined entity will have a rate base of approximately $8.3B and expects to invest $6.9B in regulated electric and gas infrastructure and other capital expenditures over the next five years. The combined company will serve 3.1M electric and gas customers across New York, Connecticut, Maine and Massachusetts. It will also have a highly-contracted 6.5 GW primarily renewables portfolio, which includes the second largest operating wind portfolio in the U.S., and a total pipeline of over 6 GW.
05:43 EDTUILUIL Holdings sees FY15 EPS $2.30-$2.50, consensus $2.43
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05:42 EDTUILUIL Holdings reports Q4 EPS 62c, consensus 63c
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