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Stock Market & Financial Investment News

News Breaks
March 26, 2013
07:31 EDTHESHess Corp. urges investors to vote for its independent nominees
Hess Corporation sent a letter to all shareholders, which accompanied its definitive proxy materials filed in connection with its 2013 Annual Meeting of Shareholders, to be held on May 16. The Board recommends that shareholders vote for the election of its highly qualified independent nominees of Hess on the WHITE proxy card. Hess says "Despite the strong endorsement our plan has received from independent Wall Street analysts and our shareholders alike, Elliott Management – an activist hedge fund run by Paul Singer that only recently began accumulating Hess stock – is asking you to elect a slate of dissident directors who have already compromised their independence by agreeing to be paid directly by Elliott to support the hedge fund’s short term agenda. Under this highly unusual scheme, Elliott would control its directors by potentially paying them millions in cash to effectively dismantle Hess and all but foreclose the prospect of future value creation...Our eight incumbent directors have worked diligently to build Hess’ world class asset base and have positioned the company to achieve substantial long term growth by transforming Hess into a pure play E&P company. In addition to these distinguished directors, we have nominated five outstanding new independent candidates and appointed an additional independent director, who we believe represent the right mix of corporate leadership, operational and financial expertise, and top level E&P experience for the Hess we are becoming."
News For HES From The Last 14 Days
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October 21, 2014
08:29 EDTHESHess Corp. upgraded to Accumulate from Neutral at Global Hunter
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October 15, 2014
07:44 EDTHESHess volatility at five-year highs as oil trends below $81
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October 10, 2014
10:05 EDTHESHess calls active on renewed takeover chatter
Hess October 84 and 85 calls area active on total call volume of 2,700 contracts (300 puts) on renewed takeover chatter. October call option implied volatility is at 37, November is at 32, December is at 30, January is at 27; compared to its 26-week average of 20 according to Track Data. Active call volume suggests traders taking positions for large price movement.
09:55 EDTHESRumor: Hess Corp. moves up on renewed takeover chatter
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