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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:04 EDTQLTI, LRE, PIKE, LRN, SALE, OCN, ESI, FRP, HCOM, ILIAF, FIVNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: FairPoint (FRP) downgraded to Hold from Buy at Drexel Hamilton... Five9 (FIVN) downgraded at Pacific Crest... Hawaiian Telcom (HCOM) downgraded to Equal Weight from Overweight at Stephens... ITT Educational (ESI) downgraded to Underperform from Neutral at BofA/Merrill... Iliad (ILIAF) downgraded to Neutral from Buy at UBS... K12 (LRN) downgraded to Hold from Buy at Stifel... LRR Energy (LRE) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen Financial (OCN) downgraded at Oppenheimer... Pike Electric (PIKE) downgraded to Hold from Buy at BB&T... QLT Inc. (QLTI) downgraded to Neutral from Buy at Roth Capital... RetailMeNot (SALE) downgraded at RBC Capital.
News For FRP;FIVN;HCOM;ESI;ILIAF;LRN;LRE;OCN;PIKE;QLTI;SALE From The Last 14 Days
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April 21, 2015
06:39 EDTLREVanguard Natural to host conference call
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05:07 EDTLREVanguard Natural to acquire LRR Energy for $539M
Vanguard Natural (VNR) and LRR Energy (LRE) announced that they have entered into a Purchase Agreement and Plan of Merger pursuant to which a subsidiary of Vanguard will merge into LRR Energy and, at the same time, Vanguard will acquire LRE GP, the general partner of LRR Energy, for total consideration of $251M in Vanguard common units and the assumption of LRE’s net debt of $288M. As a result of the transaction, LRR Energy and its general partner will become wholly owned subsidiaries of Vanguard. The transaction, which has been approved by the boards of both companies, including the Conflicts Committee of the board of LRR Energy, will be a tax-free unit-for-unit transaction with an exchange ratio of 0.55 Vanguard common units per LRE common unit. In addition, Vanguard will acquire all of the limited liability company interests in LRE GP in exchange for 12,320 Vanguard common units. The consideration to be received by LRE unitholders is valued at $8.93 per LRR Energy common unit based on Vanguard’s closing price as of April 20, representing a 13% premium to LRR Energy’s closing price on April 20, and a 19% premium to LRR Energy’s ten day volume weighted average price. Vanguard and LRR Energy expect the transaction to close in Q3. The merger is subject to customary closing conditions, including the approval of the LRR Energy unitholders. Affiliates of Lime Rock Resources, LRE’s largest unitholder, have agreed to support and vote in favor of the transaction. Upon the closing of the transaction, LRR Energy will be terminating the existing management services agreement with Lime Rock Management and Lime Rock Resources Operating Company. Offset by incremental corporate hires, Vanguard expects to generate significant general and administrative expense savings. Vanguard expects that the transaction will be immediately accretive to distributable cash flow per unit while also lowering Vanguard’s pro forma debt leverage.
April 20, 2015
09:02 EDTOCNOcwen discloses amendment to Senior Secured Term Loan Facility
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April 14, 2015
09:13 EDTOCNOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: JPMorgan Chase (JPM), up 1%... Johnson & Johnson (JNJ), up marginally... Triangle Petroleum (TPLM), up 4.2%... Fastenal (FAST), up 5%. ALSO HIGHER: Brainstorm Cell Therapeutics (BCLI), up 13.5% after announcing that it will present NurOwn Phase 2a clinical data at the Academy of Neurology annual meeting... Builders FirstSource (BLDR), up 7.2% after being upgraded to Buy from Hold at Stifel... Solazyme (SZYM), up 7.5% after announcing a strategic agreement with Flotek (FTK)... Cleveland BioLabs (CBLI), up 6.8% after receiving funding recommendation from the Department of Defense... Nordic American Tanker (NAT), up 3.2% after raising quarterly dividend to 38c from 22c... Ocwen (OCN), up 3.8% after reporting preliminary fiscal 2014 results. DOWN AFTER EARNINGS: Wells Fargo (WFC), down just under 1%. ALSO LOWER: Norfolk Southern (NSC), down 5.8% after being downgraded to Hold from Buy at TD Securities... RXi Pharmaceuticals (RXII), down 14.3% after filing to sell $20M of common stock and warrants... Arrowhead Research (ARWR), down 4.5% after being downgraded to Hold from Buy at Jefferies.
07:43 EDTOCNOcwen up 2.3% after reporting preliminary FY14 results
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07:43 EDTOCNOcwen expects to be profitable in FY15
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07:42 EDTOCNOcwen reports preliminary FY14 EPS ($4.18), may not compare to consensus 92c
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April 13, 2015
20:16 EDTFRPUSTelecom files net neutrality lawsuit against FCC
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