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Stock Market & Financial Investment News

News Breaks
June 20, 2014
08:04 EDTGE, MTU, HES, CRARYEIF 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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November 24, 2014
17:16 EDTGEGeneral Electric awarded $329.14M government contract
General Electric has been awarded an estimated maximum $329.14M firm-fixed-price, requirements type contract for performance-based holistic support of Air Force engine repair and overhaul, including worldwide customers. This contract was a sole-source acquisition. This is a five-year base contract, with one three-year option period. Location of performance is Ohio, with a May 31, 2020, performance completion date.
16:18 EDTGEGeneral Electric initiated with an Outperform at RBC Capital
Target $30.
10:00 EDTHESOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aruba Networks (ARUN) upgraded to Outperform from Market Perform at Raymond James... Banco Bilbao (BBVA) upgraded to Neutral from Underperform at BofA/Merrill... Berry Plastics (BERY) upgraded to Outperform from Market Perform at BMO Capital... Denny's (DENN) upgraded to Buy from Neutral at Janney Capital... Hess Corp. (HES) upgraded to Outperform from Market Perform at Raymond James... Huaneng Power (HNP) upgraded to Buy from Neutral at BofA/Merrill... Infoblox (BLOX) upgraded to Buy from Hold at Needham... Kate Spade (KATE) upgraded at BofA/Merrill... Lumber Liquidators (LL) upgraded to Overweight from Equal Weight at Morgan Stanley... Occidental Petroleum (OXY) upgraded to Strong Buy from Outperform at Raymond James... PT Indosat (IIT) upgraded to Buy from Neutral at Nomura... Silvercorp Metals (SVM) upgraded to Outperform from Market Perform at Raymond James... Toro Company (TTC) upgraded to Buy from Neutral at Longbow... United Microelectronics (UMC) upgraded to Market Perform from Underperform at Bernstein.
09:02 EDTGEZoetis names Roman Trawicki as president of global manufacturing and supply
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06:47 EDTHESHess Corp. upgraded to Outperform from Market Perform at Raymond James
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November 21, 2014
12:36 EDTGEMobileye growth story remains intact, says Wells Fargo
Wells Fargo attributes yesterday's pullback in Mobileye (MBLY) shares to concerns about the company's autonomous content in the long-term. Wells believes that while GM (GM) and Tesla (TSLA) semi-autonomous features initially will require only one EyeQ3 chip, the chip content will increase as the systems become more sophisticated. The firm thinks Mobileye's growth story remains intact and keeps an Outperform rating on the name. It raised its price target range for shares to $52-$56 from $51-$55.
November 20, 2014
16:01 EDTGEBlackstone to puchase GE Japan's residential real estate
Blackstone (BX) announced that funds affiliated with Blackstone Real Estate Partners Asia will make an investment in connection with an agreement to acquire GE Japan's 100% owned residential real estate business for over ¥190B. The business owns and operates more than 200 residential properties, consisting of over 10,000 units primarily in Tokyo, Osaka, Nagoya and Fukuoka.
November 19, 2014
13:20 EDTGEGeneral Electric to partner with Chinese companies on energy, China Daily says
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08:04 EDTGEGE Healthcare announces Omnyx collaboration with Caradigm
GE Healthcare announced it will resell Caradigm’s Single Sign-On and Context Management solutions in the United States, Canada, and specific EU countries to provide connectivity between the Omnyx digital pathology platforms and designated Anatomic Pathology Laboratory Information Systems.
November 17, 2014
10:31 EDTGEGE sees China order growth despite slowing economy, WSJ says
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08:47 EDTHESWilliams says Gulfstar One placed into service
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08:43 EDTHESChevron confirms first oil production from Tubular Bells in Gulf of Mexico
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08:36 EDTHESHess Corp. announces first production from Tubular Bells Field
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November 14, 2014
18:05 EDTHESRelational Investors gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: None. DECREASED STAKES: Mondelez (MDLZ), Manitowoc (MTW), Clean Harbors (CLH), and Hologic (HOLX). LIQUIDATED STAKES: Ingersoll-Rand (IR), B/E Aerospace (BEAV), Timken (TKR), Hess (HES), and NXP Semiconductors (NXPI).
09:38 EDTGEActive equity options trading
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08:04 EDTGEGE Capital provides $37.5M credit facility to Specialty's Cafe & Bakery
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08:00 EDTGEHalliburton, Baker deal would face 'intense' DOJ scrutiny, says Jefferies
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November 13, 2014
11:12 EDTGEHungary to buy Budapest from GE Capital, Reuters reports
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10:04 EDTGEGE opens $500M Brazil Technology Center
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07:26 EDTGEGE sees great infrastructure demand in developing markets, Reuters says
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