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December 10, 2012
06:09 EDTSTO, GBXGreenbrier partners with Statoil on fleet management solution
Greenbrier (GBX) has been selected by Statoil Marketing and Trading (STO) to deliver comprehensive railcar management and maintenance solutions for Statoil's fleet of more than 1,000 tank cars. The cars will ship crude oil by rail out of the Bakken formation, underlying parts of Montana, North Dakota, and Saskatchewan. Greenbrier's proprietary Enspire fleet management software platform and industry-leading maintenance and repair capability will maximize Statoil's productivity and increase velocity across its fleet. Leveraging its integrated business model, Greenbrier will design and implement the fleet maintenance program, including cost underwriting, while select Greenbrier Rail Service facilities will provide preferred turn times and on-demand solutions for empty cars, wheels, and component parts.
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April 24, 2014
16:15 EDTSTODynagas LNG acquired Arctic Aurora for $235M
Dynagas LNG Partners (DLNG) announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the Partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Arctic Aurora, a 2013 built ice class liquefied natural gas carrier, for an aggregate purchase price of $235M. The Arctic Aurora acquisition is subject to the Partnership obtaining the funds necessary to pay the purchase price and the satisfaction of certain closing conditions. The Partnership expects to finance the acquisition with the net proceeds of a public offering of its common units and a portion of the borrowings under a new $340M senior secured revolving credit facility. The Partnership believes that the Arctic Aurora acquisition is an accretive transaction consistent with its growth strategy. The Arctic Aurora acquisition will generate, assuming full utilization, total contracted gross revenue of approximately $117.2M, annual gross revenues of approximately $28.3M and annual net cash from operations of approximately $21.7M, during the initial charter period with Statoil (STO). The board of the partnership and the Conflicts Committee of the Board have approved the Arctic Aurora acquisition.
13:09 EDTGBXShares of railcar makers rally after stricter Canadian crude-by-rail rules
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06:52 EDTGBXGreenbrier comments on Canadian Government's rail safety measures
Greenbrier announced its support of the Government of Canada's measures introduced yesterday directed toward improving rail safety, specifically the safe movement of hazardous materials by rail. William A. Furman, chairman and CEO of Greenbrier stated, "We are encouraged that Transport Canada has taken critical next steps to support the safe passage of dangerous goods. Safety is paramount to our customers and within the rail industry. Our recent announcement that we are doubling Greenbrier's tank car production capacity will help the rail industry as we move toward greater regulatory certainty on tank car standards and address the measures announced yesterday by Minister Raitt."
06:20 EDTGBXAutomakers see delays of new cars delayed from U.S. factories, WSJ reports
Deliveries of new cars and trucks are being delayed from U.S. factories as automakers and railroads face effects from winter weather and the rise of production outside the Midwest, the Wall Street Journal reports. Dealers have been left short of some popular models like the Ford Explorer (F) and Toyota Rav4 (TM) because of the logjams, the publication adds. CSX Corp (CSX) CEO Michael Ward expects the situation will ease through Q2. Reference Link
April 15, 2014
10:00 EDTSTOOn The Fly: Analyst Initiation Summary
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
08:01 EDTSTOStatoil initiated with a Market Perform at BMO Capital
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April 10, 2014
10:00 EDTSTOOn The Fly: Analyst Downgrade Summary
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09:11 EDTSTOStatoil downgraded to Underperform from Neutral at Exane BNP Paribas
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