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Stock Market & Financial Investment News

News Breaks
May 22, 2014
07:34 EDTFTI, SWN, EXXI, NBR, TDW, SFY, HELIUBS to hold a conference
Oil & Gas Conference to be held in Austin, Texas on May 19-22 with webcasted company presentations to begin on May 22 at 9:40 am; not all company presentations may be webcasted. Webcast Link
News For FTI;SWN;EXXI;NBR;TDW;SFY;HELI From The Last 14 Days
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October 16, 2014
07:05 EDTSWNChesapeake announces sale of shale assets for $5.375B
Chesapeake (CHK) announced that it has executed a Purchase and Sale Agreement to sell assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale in West Virginia to Southwestern Energy Company (SWN) for aggregate proceeds of $5.375B. The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in Q4. Chesapeake has agreed to sell approximately 413K net acres and approximately 1,500 wells in Northern West Virginia and Southern Pennsylvania, of which 435 are in the Marcellus and Utica formations, along with related property, plant and equipment. Average net daily production from these properties was approximately 56K barrels of oil equivalent during the month of September, consisting of 184K Mcf of gas, 20K barrels of natural gas liquids and 5,000 barrels of condensate. The company said, "We expect our full-year production guidance for 2015 to remain in the range of 7-10% growth from 2014 levels adjusted for asset sales. I am very proud of the efforts that our Southern Marcellus team and all of our employees have put into building and developing our assets and creating value for our company. We look forward to deploying the proceeds from this significant transaction in ways that will continue to drive even greater shareholder value.
October 15, 2014
16:37 EDTSWNOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
11:46 EDTEXXIOptions with increasing implied volatility
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10:02 EDTNBR, TDW, FTI, HELIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
10:02 EDTEXXI, SWNOn The Fly: Analyst Upgrade Summary
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09:01 EDTSWNSouthwestern Energy upgraded at BofA/Merrill
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08:37 EDTSWNSouthwestern Energy upgraded to Buy from Neutral at BofA/Merrill
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07:25 EDTEXXICanaccord to hold a conference
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07:18 EDTEXXIEnergy XXI upgraded to Buy from Neutral at Global Hunter
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07:12 EDTFTIFMC Technologies initiated with a Buy at ISI Group
Target $67.
07:10 EDTHELICHC Group initiated with a Buy at ISI Group
Target $5.80.
07:06 EDTNBRNabors Industries initiated with a Buy at ISI Group
Target $29.
07:03 EDTTDWTidewater initiated with a Hold at ISI Group
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05:49 EDTEXXIStocks with implied volatility movement; EXXI AFSI
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October 14, 2014
18:20 EDTNBROn The Fly: After Hours Movers
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18:14 EDTNBRNabors Industries initiated with a Buy at ISI Group
Target $29.
11:28 EDTEXXIOptions with increasing implied volatility
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October 13, 2014
12:33 EDTEXXIOptions with increasing implied volatility
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October 10, 2014
14:23 EDTEXXIEnergy XXI volatility increases as shares trend to five-year low
Energy XXI October call option implied volatility is at 101, November is at 85, December is at 98, January is at 86; compared to its 26-week average of 43 according to Track Data, suggesting large price movement.
12:11 EDTEXXIOptions with increasing implied volatility
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