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Stock Market & Financial Investment News

News Breaks
January 29, 2013
09:52 EDTHESHess rallies after Elliott says value could be $126 per share
Shares of Hess Corp. (HES) are moving higher after Elliott Management Corporation sent a letter to the company's shareholders urging them to elect its slate of five independent directors to the board. In the letter, Elliott said that if managed appropriately, the equity value of Hess could be up to $126 per share. Elliott estimates that a spin-off of Hess Resource Co. could create over $28 per share of additional value for shareholders, while divesting the company's downstream assets and tax efficiently monetizing its midstream assets could create $11 per share of additional value. Shares of Hess Corp. are up 10%, or $6.15, to $68.62 in early trading.
News For HES From The Last 14 Days
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November 24, 2014
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.
06:47 EDTHESHess Corp. upgraded to Outperform from Market Perform at Raymond James
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November 17, 2014
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).
November 12, 2014
07:31 EDTHESBofA/Merrill to hold a conference
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November 10, 2014
13:00 EDTHESHess Corp. increases five-year production growth rate forecast
Hess Corporation will review its growth strategy and provide a detailed update on its portfolio at an Investor Day in Houston. CEO John Hess, COO Greg Hill and other members of the leadership team will outline plans and targets that underpin the company’s strategy and commitment to deliver value to shareholders. The company is increasing its five-year production growth rate forecast to 6%-10% compounded annually from 2013 through 2018 between $90 and $100 Brent. With the success of its 2014 downspacing pilots confirmed, the company is increasing its Bakken net peak production guidance to approximately 175,000 barrels of oil equivalent per day by 2020; adding an additional 1,000 well locations to a total of more than 4,000; and increasing its net estimated ultimate recovery to more than 1.4 BBOE. Utica’s net peak production is forecast to reach approximately 40,000 BOEPD by 2020, with approximately 500 well locations and a net EUR of more than 300 MMBOE. This is the first time the company is providing guidance for this asset. Significant production growth and free cash generation are forecast from Hess’ offshore assets, particularly in the deepwater Gulf of Mexico with the Stampede field sanctioned in October for first oil in 2018 and production startup underway at Tubular Bells.

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