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Stock Market & Financial Investment News

News Breaks
January 24, 2014
10:55 EDTGG, GG, TU, TU, CNQ, CNQ, KGC, KGC, ECA, ECA, ERF, ERF, NEM, NEM, IAG, IAG, PFG, PFGCIBC to host a conference
17th Annual Whistler Institutional Investor Conference is being held in Whistler, British Columbia on January 22-24 with webcasted company presentations to begin on January 24 at 11 am; not all company presentations may be webcasted. Webcast Link
News For GG;TU;CNQ;KGC;ECA;ERF;NEM;IAG;PFG From The Last 14 Days
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December 16, 2014
12:26 EDTCNQ, ECAOn The Fly: Midday Wrap
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10:57 EDTCNQ, ECACanadian energy stocks rise after Talisman acquired by Repsol
Shares of Canadian energy companies are higher this morning after Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash. WHAT'S NEW: Canada-based Talisman announced that it has agreed to be acquired by Spain's Repsol in a transaction valued at approximately $13B, including debt. Under the terms of the agreement, Repsol will buy all outstanding common shares of Talisman for $8 per share in cash. Also under the deal, Talisman will pay aggregate cash dividends of 18c per common share prior to closing. The Talisman board is recommending shareholders accept the deal at a special meeting to be held in mid-February 2015. The transaction is expected to close in the second quarter of 2015, Talisman said. Talisman Chairman Chuck Williamson noted that the deal will create "significant and immediate value" for the company's investors. WHAT'S NOTABLE: Repsol first explored a bid for Talisman in July, but talks slowed in late August. Earlier this month, Bloomberg reported the companies revived talks and The Wall Street Journal said "talks moved quickly" from there. Canada Pension Plan Investment Board, which initially considered buying parts of Talisman, was also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. ANALYST REACTION: Talisman Energy was downgraded this morning to Market Perform from Outperform at Bernstein. PRICE ACTION: Talisman Energy is up $2.43, or 47.5%, to $7.55 in morning trading and Repsol shares trading in New York are down 1.5% to $19.15. OTHERS TO WATCH: Other Canadian energy companies traded in New York include Encana (ECA), Suncor (SU), Canadian Natural Resource (CNQ) and Imperial Oil (IMO). Of note, Encana this morning announced a 2015 capital program of $2.7B-$2.9B, with about 80% directed to the Montney, Duvernay, Eagle Ford and Permian, its highest margin growth plays. The company expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. In morning trading, Encana shares rose 9.2% to $12.69, Suncor gained 5.3% to $28.33, Canadian Natural Resource added 4.8% to $28.62 and Imperial Oil advanced 2.5% to $40.88.
09:59 EDTKGCOn The Fly: Analyst Downgrade Summary
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06:56 EDTKGCKinross Gold downgraded to Neutral from Outperform at Credit Suisse
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06:04 EDTECAEncana announces $2.7B$2.9B 2015 capital program
Encana announced a highly focused 2015 capital program of $2.7B-.$2.9B, with approximately 80% directed to four of its highest margin growth plays; the Montney, Duvernay, Eagle Ford and Permian. Encana expects to generate approximately 75% of its 2015 cash flow from oil and liquids production. The company estimates total liquids production will grow approximately 70% compared to 2014 to between 140,000 and 160,000 barrels per day, or bbls/d, and anticipates overall production of between 405,000 and 440,000 barrels of oil equivalent per day (boe/d). Encana expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. Encana is committed to protecting its balance sheet through a prudent capital investment program. The company's 2015 capital program is based on assumptions of $70 WTI oil prices and NYMEX natural gas prices of $4 per MMBtu. In addition, the company expects to generate net proceeds of around $800M in the Q1 of FY15 through the completion of the previously announced divestiture of the majority of its Clearwater assets and other anticipated transactions.
December 12, 2014
16:51 EDTTUTELUS to purchase up to 1.2M common shares through private agreements
TELUS announced that it intends to purchase and cancel up to 1.2M of its common shares through private agreements with an arm's-length third-party seller. The private agreement purchases will be made according to an issuer bid exemption order issued by the Ontario Securities Commission on December 12 and must occur prior to December 31. The common shares purchased will be counted towards the 16M common shares that TELUS is entitled to purchase for cancellation over a 12-month period, commencing October 1, under its 2015 normal course issuer bid announced on September 29.
13:27 EDTECAEncana to hold a conference call
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08:09 EDTPFGBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 8, 2014
10:00 EDTCNQOn The Fly: Analyst Downgrade Summary
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06:13 EDTCNQCanadian Natural downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Canadian Natural Resources to Neutral saying the company is likely to cut its capital spending amid lower oil prices. Citi lowered its price target for shares to $36 from $50.
December 4, 2014
10:08 EDTERFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Anglo American (AAUKY) downgraded to Underperform from Buy at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Miller Tabak... AuRico Gold (AUQ) downgraded to Underweight from Equal Weight at Morgan Stanley... BHP Billiton (BHP) downgraded to Neutral from Buy at BofA/Merrill... BIND Therapeutics (BIND) downgraded at Credit Suisse... BRF S.A. (BRFS) downgraded to Neutral from Buy at Goldman... CIRCOR (CIR) downgraded to Hold from Buy at BB&T... DISH (DISH) downgraded to Underweight from Equal Weight at Barclays... Enerplus (ERF) downgraded to Sector Performer from Outperformer at CIBC... Gildan Activewear (GIL) downgraded to Hold from Buy at GMP Securities... Kindred Biosciences (KIN) downgraded to Hold from Buy at Craig-Hallum... Nevsun Resources (NSU) downgraded to Neutral from Buy at UBS... Public Storage (PSA) downgraded at KeyBanc... Rio Tinto (RIO) downgraded to Underperform from Buy at BofA/Merrill... SeaChange (SEAC) downgraded to Hold from Buy at Noble Financial... Thor Industries (THO) downgraded at BMO Capital... Tupperware Brands (TUP) downgraded to Underperform from Market Perform at BMO Capital... UTi Worldwide (UTIW) downgraded at Stifel... Vale (VALE) downgraded to Neutral from Buy at BofA/Merrill... Vermilion Energy (VET) downgraded to Sector Performer from Outperformer at CIBC... Wal-Mart (WMT) downgraded to Neutral from Buy at UBS.
06:38 EDTERFEnerplus downgraded to Sector Performer from Outperformer at CIBC
December 3, 2014
10:00 EDTPFGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aldeyra (ALDX) initiated with a Buy at Ascendiant... Baker Hughes (BHI) initiated with a Perform at Oppenheimer... Belmond Ltd (BEL) initiated with an Outperform at JMP Securities... Bruker (BRKR) initiated with a Buy at BTIG... Cepheid (CPHD) initiated with a Neutral at BTIG... ClubCorp (MYCC) initiated with a Buy at KeyBanc... GenMark (GNMK) initiated with a Buy at BTIG... Halliburton (HAL) initiated with an Outperform at Oppenheimer... MetLife (MET) initiated with a Neutral at Atlantic Equities... PerkinElmer (PKI) initiated with a Neutral at BTIG... Principal Financial (PFG) initiated with an Overweight at Atlantic Equities... Prudential (PRU) initiated with an Overweight at Atlantic Equities... SanDisk (SNDK) initiated with a Buy, $125 target at Citigroup... Schlumberger (SLB) initiated with an Outperform at Oppenheimer... Talmer Bancorp (TLMR) initiated with an Outperform at Fig Partners... W.P. Carey (WPC) initiated with a Neutral at Citigroup... WNS Holdings (WNS) initiated with a Buy at Maxim... Weatherford (WFT) initiated with an Outperform at Oppenheimer.
10:00 EDTERFOn The Fly: Analyst Downgrade Summary
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08:07 EDTPFGPrincipal Financial initiated with an Overweight at Atlantic Equities
Target $60.
06:30 EDTERFEnerplus downgraded to Sector Perform from Outperform at Scotia Capital

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