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Stock Market & Financial Investment News

News Breaks
June 9, 2014
07:37 EDTAPO, HKHalcon Resources signs agreement with affiliates of Apollo Global
Halcón (HK) announced the signing of a definitive agreement with credit funds and accounts managed by affiliates of Apollo Global Management, LLC (APO), which will invest up to $400M in the company's wholly owned subsidiary, HK TMS. Upon closing, HK TMS will hold all of Halcón's acreage in Mississippi and Louisiana that is prospective for the TMS formation. The Company holds 100% of the common shares of HK TMS and is the sole manager of HK TMS. Apollo will contribute $150M in cash consideration for 150,000 of HK TMS preferred shares, and under certain circumstances, may acquire up to an additional 250,000 preferred shares of HK TMS on the same terms. Holders of the HK TMS preferred shares will receive quarterly cash dividends of 8% per annum. In conjunction with the issuance of the preferred shares, HK TMS agreed to assign a 4.0% overriding royalty interest, subject to reduction to 2.0% under certain circumstances, in 75 net wells to be drilled and completed on its TMS acreage. The number of wells subject to the ORRI will increase to the extent that Apollo subscribes for additional preferred shares, with a maximum of 200 net wells subject to such ORRI if Apollo subscribes for the full additional 250,000 preferred shares.
News For HK;APO From The Last 14 Days
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April 23, 2015
10:00 EDTHKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ADTRAN (ADTN) downgraded to Hold from Buy at Needham... Angie's List (ANGI) downgraded to Underperform from Market Perform at Northland... BG Group (BRGYY) downgraded to Hold from Overweight at HSBC... Brink's (BCO) downgraded to Neutral, sees 'imminent' downside risk, says Macquarie... Citrix (CTXS) downgraded to Hold from Buy at Evercore ISI... Cognex (CGNX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Equal-Weight from Overweight at First Analysis... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Ensco (ESV) downgraded to Underweight from Equal Weight at Morgan Stanley... F5 Networks (FFIV) downgraded to Neutral from Buy at MKM Partners... Fulton Financial (FULT) downgraded to Market Perform from Outperform at Keefe Bruyette... Halcon Resources (HK) downgraded to Neutral from Outperform at Baird... Heartland Express (HTLD) downgraded on limited earnings growth at Raymond James... Informatica (INFA) downgraded to Market Perform from Outperform at JMP Securities... Knight Transportation (KNX) downgraded to Outperform from Strong Buy at Raymond James... LegacyTexas Financial (LTXB) downgraded to Outperform from Strong Buy at Raymond James... Masco (MAS) downgraded to Neutral from Buy at Citigroup... MobileIron (MOBL) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Corp. (NE) downgraded to Underweight from Equal Weight at Morgan Stanley... Omnicare (OCR) downgraded to Neutral from Outperform at Credit Suisse... Owens Corning (OC) downgraded to Sell from Neutral at Citigroup... Qualcomm (QCOM) downgraded to Neutral from Outperform at Exane BNP Paribas... RAM Energy (RAME) downgraded to Neutral from Outperform at Baird... Repsol (REPYY) downgraded to Reduce from Hold at HSBC... Stillwater Mining (SWC) downgraded on lack of catalysts at BB&T... Texas Capital (TCBI) downgraded to Outperform from Strong Buy at Raymond James... Texas Instruments (TXN) downgraded to Neutral from Buy at BofA/Merrill... Total (TOT) downgraded to Hold from Buy at Deutsche Bank... Transocean (RIG) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:21 EDTHKHalcon Resources downgraded to Neutral from Outperform at Baird
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April 21, 2015
09:02 EDTAPOBlackstone, Wells Fargo in talks on more GE financial assets, Bloomberg says
General Electric (GE), which has announced plans to divest the majority of its GE Capital businesses, is in talks about the potential sale of its $74B U.S. commercial-lending unit, reported Bloomberg, echoing a similar report from The Wall Street Journal. Potential buyers include Blackstone (BX), Mitsubishi UFJ (MTU) Wells Fargo (WFC) and Apollo Global (APO), according to people with knowledge of the matter. Reference Link
07:34 EDTHKHalcon Resources sees Q1 production 42,500-43,500 Boe/d
Halcón expects to report production for the three months ended March 31, 2015 of 42,500-43,500 barrels of oil equivalent per day. Q1 production is estimated to be ~81% oil, ~8% NGLs and ~11% natural gas. The company estimates that it will record a non-cash pre-tax full cost ceiling impairment charge of $450M-$650M in Q1. The company is currently operating three rigs across its holdings and currently has 23 wells being completed or waiting on completion. Halcón continues to be focused on reducing costs in the current commodity price environment.
April 14, 2015
13:02 EDTAPOFly Watch: Analyst expects strong Q1 results from private equity firms
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