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Stock Market & Financial Investment News

News Breaks
February 15, 2013
10:12 EDTHNZ, NTGR, KGC, VAL, PDS, GNRC, NGLS, XL, ATML, PSUN, SGNT, QLIK, EAT, KFY, SAAS, QEPOn the Fly: Analyst Upgrade Summary
Today’s noteworthy upgrades include: Heinz (HNZ) upgraded to Neutral from Sell at Goldman... inContact (SAAS) upgraded to Buy from Neutral at Roth Capital... Korn/Ferry (KFY) upgraded to Buy from Neutral at SunTrust... Qlik Technologies (QLIK) upgraded to Outperform from Sector Perform at RBC Capital... XL Group (XL) upgraded to Buy from Neutral at Janney Capital... Brinker (EAT) upgraded to Buy from Neutral at Davenport... Sagent Pharmaceuticals (SGNT) upgraded to Overweight from Neutral at Piper Jaffray... Atmel (ATML) upgraded to Buy from Hold at Craig-Hallum... Qlik Technologies (QLIK) upgraded to Positive from Neutral at Susquehanna... Pacific Sunwear (PSUN) upgraded to Buy from Neutral at DA Davidson... Targa Resources Partners (NGLS) upgraded to Buy from Hold at Stifel Nicolaus... Generac (GNRC) upgraded to Buy from Hold at Stifel Nicolaus... Precision Drilling (PDS) upgraded to Outperform from Market Perform at Raymond James... Valspar (VAL) upgraded to Overweight from Equal Weight at First Analysis... Kinross Gold (KGC) upgraded to Outperform from Neutral at Credit Suisse... QEP Resources (QEP) upgraded to Neutral from Underperform at Sterne Agee... Netgear (NTGR) upgraded to Buy from Neutral at Sterne Agee
News For HNZ;SAAS;KFY;EAT;QLIK;SGNT;PSUN;ATML;XL;NGLS;GNRC;PDS;VAL;KGC;NTGR;QEP From The Last 14 Days
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October 17, 2014
18:06 EDTQEPWilliams, Questar interested in QEP Resources pipeline unit, Bloomberg says
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17:23 EDTQEPWilliams, Questar interested in QEP Resources pipeline unit, Bloomberg says
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10:51 EDTQEPOptions with increasing implied volatility
Options with increasing implied volatility: COV DISH HLT QEP GREK BKW BYI LLY DTV TIBX
October 16, 2014
09:38 EDTPDSPrecision Drilling upgraded to Action List Buy from Buy at TD Securities
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October 15, 2014
17:00 EDTQEPJana Partners liquidates stake in QEP Resources
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07:06 EDTPDSPrecision Drilling initiated with a Buy at ISI Group
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October 14, 2014
10:01 EDTEATOn The Fly: Analyst Downgrade Summary
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06:42 EDTEATBrinker downgraded to Hold from Buy at KeyBanc
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October 13, 2014
12:16 EDTNGLSOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
10:29 EDTNGLSTarga says has no expecation of reducing headcount to create value
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09:21 EDTNGLSOn The Fly: Pre-market Movers
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08:38 EDTNGLSTarga Resources Partners to increase dividend by 4c post-closing
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08:32 EDTNGLSAtlas Energy to host conference call
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08:17 EDTNGLSTarga Resources Partners and Targa Resources to host conference call
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08:07 EDTATMLAtmel partners with IHR in automotive electronics
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07:57 EDTNGLSTarga Resources CEO says acquisition is 'compelling strategic opportunity'
Joe Bob Perkins, CEO of the Targa Resources and of the general partner of the Partnership, stated, "Both the Targa and Atlas management teams and our boards view this integrated transaction as a highly compelling strategic opportunity to combine two outstanding midstream businesses and create value for all shareholders and unitholders. We believe the combination provides our customers an enhanced midstream service offering, and presents our investors with an enterprise that has increased scale, diversity and growth. The acquisitions will significantly and immediately increase our scale and geographic diversity, accelerating the growth of our premier North American midstream platform. APL's footprint solidifies the Partnership's position as a leader in the Permian Basin, while adding top-tier assets in the Midcontinent and South Texas regions. Importantly, the combination of APL's NGL production with Targa Resources Partners' leading NGL downstream assets will allow the pro forma partnership to generate additional revenue along the NGL value chain, create additional attractive growth capital expenditure projects and accelerate current growth capital expenditure projects." The boards of the partnership (NGLS), the company (TGRP), ATLS (ATLS) and APL (APL) have each approved the respective merger agreements. Subject to the completion of the spin-off and customary approvals and conditions, including the expiration or termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, the acquisitions are expected to close in 1Q15. The respective boards of APL, ATLS and the Company have voted to recommend the transaction to their unitholders and shareholders.
07:50 EDTNGLSAtlas Energy to spin-off non-midstream assets prior to acquisition by Targa
Prior to Targa Resources' (TRGP) acquisition of Atlas Energy (ATLS), ATLS will spin-off its non-midstream assets. After giving effect to the spin-off, ATLS's assets will solely comprise its general partner and incentive distribution rights interests in APL and 5.8M APL common units. Immediately following the spin-off and subject to the concurrent closing of the Partnership's acquisition of APL, Targa Resources will acquire Atlas Energy for total consideration of $1.87B, including 10.35M TRC shares valued at $1.26B based on the closing price of TRC's common stock on October 10 and $610M in cash. Targa Resources has arranged committed financing of $1.1B to replace its existing revolving credit facility and to fund the cash components of the transaction, including cash merger consideration and $149M related to change of control payments. Based on shares of TRC and units of ATLS outstanding as of September 30, current Targa Resources shareholders will own approximately 80% of the pro forma shares outstanding and current ATLS unitholders will own approximately 20%.
07:48 EDTNGLSTarga Resources sees 11%-13% distribution growth in 2015 following acquisition
For the Partnership, management expects to recommend a distribution increase 4c per limited partner unit at the first Bboard distribution declaration meeting after the transaction closes; which is expected to be in the first quarter of 2015. Assuming a first quarter close, the Partnership estimates full year 2015 pro forma distribution growth over full year 2014 of 11% – 13%, and expects distribution coverage to be at or above the Partnership's stated target range of 1.1x – 1.2x. In conjunction with the Partnership recommendation, management expects to recommend a dividend increase of 10c per share for Targa Resources following the closings of the transactions. Assuming a first quarter close and 11%-13% distribution growth at the Partnership, the company estimates full year 2015 pro forma dividend growth over full year 2014 of approximately 35%. The Company's estimated 2015 effective cash tax rate pro forma for the transaction is expected to be 10%-15% compared to 33% on a standalone basis. Targa Resources Corp. expects $1.00 - $2.00 per share dividend accretion over the long term
07:46 EDTNGLSTarga Resources to acquire Atlas Pipeline Partners, Atlas Energy
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07:44 EDTNGLSTarga Resources to acquire Atlas Pipeline Partners, Atlas Energy
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