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Stock Market & Financial Investment News

News Breaks
November 13, 2012
05:55 EDTDOW, DOW, SEP, SEP, DNR, DNR, ECA, ECA, APOL, APOL, LNG, LNG, CS, CS, EC, EC, SLB, SLB, HAL, HALIHS Herold to host a conference
21st Annual Pacesetters Energy Conference is being held in Washington, D.C. on November 13-14.
News For HAL;SLB;EC;CS;LNG;APOL;ECA;DNR;SEP;DOW From The Last 14 Days
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December 11, 2014
10:17 EDTCSFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
December 10, 2014
16:44 EDTDNROn The Fly: Closing Wrap
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16:16 EDTLNGKinder Morgan, Cheniere Energy announces long-term agreements
Kinder Morgan (KMI) announced that Kinder Morgan Texas Pipeline, Kinder Morgan Tejas Pipeline and Tennessee Gas Pipeline Company, or TGP, have entered into 15-year firm transportation agreements and a multi-year storage agreement with Cheniere Energy (LNG) through its subsidiary, Corpus Christi Liquefaction. Under the agreements, KMI will provide 550,000 dekatherms per day of firm natural gas transportation service, as well as 3B cubic feet, or Bcf, of natural gas storage capacity to serve the LNG export facility being developed near Corpus Christi. The project is being designed and permitted for up to three trains, with aggregate design production capacity of approximately 13.5M tonnes per annum, or mtpa, of LNG. The natural gas transportation service can be increased to 800,000 Dth/d upon the completion of certain conditions in the Kinder Morgan Texas Pipeline agreement. KMI will expand its existing Texas intrastate pipeline system in South Texas to provide 250,000 Dth/d of firm transportation and 100 percent of the storage services, and expand its TGP Pipeline to provide 300,000 Dth/d of firm transportation from various Zone 1 receipt points near its Station 87 Pool located in Portland, Tennessee. The construction of the facilities necessary to support these services will be coordinated with the startup of the LNG export facility, which is expected in 2018/2019. KMI expects to invest approximately $187M for this project.
16:00 EDTLNG, DOWOptions Update; December 10, 2014
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08:01 EDTHALCapital One to hold a conference
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07:56 EDTDOWUBS to hold a conference
Agriculture Investor Day is being held in Chicago on December 10.
December 9, 2014
16:00 EDTDOWOptions Update; December 9, 2014
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10:23 EDTHAL, SLBOn The Fly: Analyst Downgrade Summary
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07:53 EDTHALHalliburton downgraded to Neutral from Outperform at Macquarie
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06:05 EDTLNGStocks with implied volatility movement; LNG OXY
Stocks with implied volatility movement; Cheniere Energy (LNG) 59, Occidental Petroleum (OXY) 33 according to iVolatility.
05:50 EDTSLBSchlumberger downgraded to Hold from Buy at Jefferies
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December 8, 2014
09:23 EDTSEPSpectra Energy, Northeast Utilities form alliance with Iroquois Gas Transmission
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07:56 EDTCSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
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December 5, 2014
08:31 EDTDOWDow Chemical to sell global Sodium Borohydride business to Vertellus
The Dow Chemical Company has signed definitive agreements to sell its global Sodium Borohydride business to Vertellus Specialty Materials LLC and its polyolefin films plant in Findlay, Ohio to Valfilm North America, a wholly-owned subsidiary of VALGROUP Packaging Solutions. Both transactions are expected to close in the first quarter of 2015 pending regulatory approvals. Combined proceeds from the transactions total approximately $225M. Dow had previously announced its intent to divest its Sodium Borohydride business on Oct. 2, 2014, as part of the Company’s ongoing focus to maximize value across its integrated portfolio by reducing exposure to non-strategic businesses and assets. Both transactions are part of Dow’s ongoing drive to deliver $7B-$8.5B in gross proceeds by mid-2016. The divestiture of Sodium Borohydride includes a manufacturing facility located in Elma, Washington, the associated business, inventory, customer contracts and lists, process technology, business know-how and certain intellectual property. Approximately 75 employees globally are expected to transition employment status to Vertellus as part of the transaction. Under the terms of the purchase agreement, Vertellus will honor customer and supplier contracts and related agreements. The sale of the Findlay plant includes assets and technology that produce a wide-variety of polyolefin films. In September 2014, Dow decided to close the facility at the end of January 2015, impacting approximately 70 employees. Valfilm intends to restart the facility in February 2015. The transaction is dependent on the final approval for all incentives by the State of Ohio.
08:01 EDTAPOLApollo Education closes acquisition of majority interest in Sociedade Técnica
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07:43 EDTHAL, SLBLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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December 4, 2014
17:42 EDTHALHalliburton announces integration leadership for Baker Hughes acquisition
Halliburton (HAL) announced its Board of Directors has appointed Executive Vice President and CFO Mark McCollum to the new role of Executive Vice President and Chief Integration Officer. In this capacity, he will serve as head of the Joint Integration Team that Halliburton and Baker Hughes (BHI) are assembling in connection with Halliburton’s pending acquisition of Baker Hughes. McCollum will continue reporting to Dave Lesar, Chairman and CEO of Halliburton, and will remain a member of the company’s Executive Committee. Christian Garcia, Senior Vice President and Chief Accounting Officer, will become Senior Vice President of Finance and assume McCollum’s CFO responsibilities on an interim basis. It is anticipated that McCollum will resume his CFO duties at the conclusion of the two companies’ integration. Garcia will report to Lesar and will join Halliburton’s Executive Committee. Charlie Geer, currently Vice President of Finance, will become Vice President and Corporate Controller and will take over Garcia’s accounting responsibilities on an interim basis as well. He will continue reporting to Garcia. The new roles are effective January 1, 2015. Belgacem Chariag, President of Global Products and Services for Baker Hughes, will serve as lead for Baker Hughes on the Joint Integration Team. On Nov. 17, Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton will, subject to the conditions set forth in the agreement, acquire Baker Hughes in a stock and cash transaction
16:00 EDTDOWOptions Update; December 4, 2014
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08:09 EDTAPOLApollo Education develops venture investment platform
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