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Stock Market & Financial Investment News

News Breaks
June 20, 2014
08:04 EDTCRARY, GE, MTU, HESEIF acquires Hess Corp's 50% stake in GE-powered Newark Energy Center
Energy Investors Funds, an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50% ownership stake in the Newark Energy Center from Hess Corporation (HES) using a $590M loan from Crédit Agricole Corporate and Investment Bank (CRARY), GE unit (GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MTU). EIF-NEC, LLC, an entity jointly owned by the two EIF-managed funds, will use the loan to support the acquisition, construction and operation of the 705-megawatt power plant, which is being built using GE’s advanced combined-cycle, natural gas-fired turbine technology. With this acquisition, EIF-NEC now holds 100% of the equity interests in the Newark Energy Center. The three lenders served as co-lead arrangers and joint-book runners. Financial details of the transactions were not disclosed. The Newark Energy Center sits on 23 acres of brownfield industrial land in New Jersey, an optimal location with nearby gas supply and electrical interconnection point. The project has been under construction for nearly two years and is expected to begin commercial operations in May 2015. It will sell its energy and capacity into the PJM capacity market. Power Plant Management Services is managing construction, with NAES Corporation providing operations and maintenance and Direct Energy undertaking additional energy management services.
News For HES;GE;CRARY;MTU From The Last 14 Days
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February 9, 2016
15:07 EDTGEOption volume leaders: FB AAPL BAC MSFT NFLX TWTR GE MU DIS TSLA CSCO C GM
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11:24 EDTGEWells Fargo: 'We have to be prepared for 0-1' rate increases this year
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09:22 EDTGEWells Fargo says to benefit from GE Capital loan acquisitions in 2016
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07:24 EDTGEGE still in discussions with suitors over BPH sale, Reuters reports
GE Money (GE) is still in discussions with several bidders over the sale of its Polish unit Bank BPH, Reuters reports, citing comments from BPH CEO Richard Gaskin to reporters. "The process is still going on. There are several bidders," Gaskin said. UniCredit's (UNCFF) Polish unit Bank Pekao may acquire BPH without Swiss franc-denominated loans which GE plans to split off, the report says. Reference Link
07:16 EDTGEUniCredit's Pekao may purchase smaller rival BPH, Reuters reports
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February 8, 2016
06:12 EDTGEDiamond Offshore, GE Oil & Gas enter first-of-its-kind CSA
Diamond Offshore Drilling (DO) and GE Oil & Gas (GE) announced the offshore drilling industry's first-of-its-kind contractual service agreement, or CSA, that transfers full accountability for BOP performance to GE Oil & Gas. In this Pressure Control by the Hour model, Diamond Offshore will compensate GE Oil & Gas only when the BOP is available. This 10-year collaborative arrangement for GE's engageDrilling Services showcases a new way of thinking to drive continuous improvement in deepwater drilling. The arrangement will include GE purchasing the BOP systems aboard Diamond Offshore's four drillships, currently located in the U.S. Gulf of Mexico, for a total of $210M.
February 5, 2016
09:19 EDTHESOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 6.9%... Symantec (SYMC), up 9.1%... Ubiquiti (UBNT), up 20.2%... Lumentum (LITE), up 7.5%. DOWN AFTER EARNINGS: Tableau Software (DATA), down 42.8%... LinkedIn (LNKD), down 35.6%... Outerwall (OUTR), down 19.9%... Sierra Wireless (SWIR), down 24.4%... Deckers Outdoor (DECK), down 12.7%... Hanesbrands (HBI), down 13.3%. ALSO LOWER: LinnCo (LNCO), down 65% after announcing exploration of strategic alternatives... Linn Energy (LINE), down 59.2% after announcing exploration of strategic alternatives... Quotient (QTNT), down 17.9% after 4.44M share Secondary priced at $9.00... Hess (HES), down 10.2% after 25M share Spot Secondary priced at $39.00.
07:29 EDTHESOptions expected to be active
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06:07 EDTHESHess Corp. 25M share Spot Secondary priced at $39.00
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06:00 EDTGEState Street close to deal to buy GE asset management unit, Reuters reports
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February 4, 2016
19:30 EDTHESOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
16:08 EDTHESHess Corp. files to sell 25M common shares and 10M depositary shares
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09:36 EDTMTUMitsubishi UFJ downgraded to Sell from Neutral at Citi
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February 2, 2016
16:21 EDTMTUMUFG Americas appoints C. Perretta as Chief Information & Operations Officer
MUFG announced that Christopher Perretta will join the company as Chief Information & Operations Officer for MUFG Americas Holdings Corporation and its U.S. banking subsidiary, MUFG Union Bank, effective April 1. Perretta will also serve on the company's Executive Committee for the Americas as a policy making officer. He will be based in New York and report to President and CEO for MUFG Union Bank, N.A., Stephen Cummings. Perretta most recently served as Global Head of Enterprise Data and Technology for State Street Corporation in Boston.
15:16 EDTHESS&P takes rating actions on U.S. investment-grade E&P companies
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10:01 EDTGEGE Appliances agrees to four-year contract extension with Taylor Morrison
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February 1, 2016
09:07 EDTGEGE to stop making coiled compact fluorescent lamps for U.S. market
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08:32 EDTGEGE Hitachi Nuclear Energy completes services outage at PWR facility
GE Hitachi Nuclear Energy announced the successful completion of its first services outage at a Pressurized Water Reactor, or PWR, facility. The outage, completed in partnership with Exelon Generation at the R.E. Ginna Nuclear Power Plant in Ontario, New York, was completed under budget and ahead of schedule with no safety-related or human performance issues. GEH is a part of a global nuclear alliance created by GE and Hitachi to serve the global nuclear industry.
05:46 EDTGEGE Oil & Gas reports over $700M of customer agreements
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05:44 EDTGEGE Oil & Gas announces investments in Italy worth $600M
GE Oil & Gas announced a new Memorandum of Understanding that will lead to the investment of $600M over the next five years in Italy. The MoU was signed today in Florence by GE Oil & Gas at a ceremony attended by the Minister of Economic Development Federica Guidi, the President of Tuscany Region Enrico Rossi, GE's Chairman and CEO Jeff Immelt, the President and CEO of GE Italia Sandro De Poli, the President and CEO of GE Oil & Gas Lorenzo Simonelli and the President of Nuovo Pignone Massimo Messeri. The investment in significant research, development and technological innovation in the country reaffirms GE Oil & Gas' commitment to the Italian market, and reinforces its cooperation with universities, SMEs and the regional economy where it operates. Tuscany is the home to Oil & Gas' Turbomachinery Solutions division and is also present in Lombardy, Calabria and Apulia. Another Memorandum of Understanding has been signed in the last weeks between Avio Aero - a GE Aviation business - and the Italian Minister of Economic Development, consisting of EUR200M over the next four years and involving Piedmont, Apulia and Campania, the geographical areas in which Avio Aero employs about 4,000 people. The MoU announced today will see GE Oil & Gas operations invest $600M over the next five years establishing a centre of global excellence in Tuscany for the oil and gas sector that will involve 500 highly qualified people coming from GE, universities, research labs, and small and medium-sized enterprises. The project aims at increasing Italian production by 50% and increase company revenue by $1.7B in five years. The program, named Galileo, supports the development of gas turbines and centrifugal compressors with a 5-65MW power range and innovative digital technologies covering their entire life cycle with aim of optimising the performance and operative life of the products.
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