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Stock Market & Financial Investment News

News Breaks
April 7, 2014
10:50 EDTSXC, MILL, SEAS, CMCSK, HSTHigh option volume stocks: HST SEAS SXC CMCSK MILL
News For HST;SEAS;SXC;CMCSK;MILL From The Last 14 Days
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December 16, 2014
16:44 EDTSEASSeaWorld postpones Q4 dividend
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16:42 EDTSEASSeaWorld to accelerate start date of $250M share repurchase program
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08:06 EDTSXCSunCoke Energy coal exit already priced into shares, says Brean Capital
Brean Capital noted SunCoke Energy's exit from the coal business was more expensive than expected, but the firm believes it is already priced into the company's share price. The firm sees the exit providing a good time to revisit the story as an attractive cash-flow investment with low commodity price exposure. Brean Capital reiterated its Buy rating but lowered its price target to $25 from $27 on SunCoke Energy shares.
December 15, 2014
08:48 EDTMILLMiller Energy downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Miller Energy due to lower oil price forecasts and execution issues.
08:34 EDTCMCSKNexstar announces long-term affiliation agreement with NBC Television Network
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07:35 EDTSXCSunCoke Energy to incur one-time cash costs of $25M-$35M related to plans
The company expects to incur one-time cash costs of $25 million to $35 million related to its plans to downsize its coal operations including: The previously disclosed estimated expense of approximately $10 million primarily related to contract terminations, which will be incurred primarily in fourth quarter 2014; Anticipated employee severance and other one-time costs to idle mines of $10 million to $15 million to be recognized in fourth quarter 2014 and early 2015; Expected capital expenditures of $5 million to $10 million in 2015 to demolish its coal preparation plant and install additional coal handling and storage to enable third-party coal purchases for its Jewell facility. In view of its Coal Mining business downsizing plans, SunCoke says "We expect to recognize non-cash charges related to worker's compensation, asset reclamation, black lung liability and other post-employment benefits liabilities. Further, we will also evaluate the recoverability of the long-lived assets of the Coal Mining business to determine if the carrying value of the assets is recoverable. Unrelated to the coal downsizing plans, we now estimate that due to anticipated changes in discount rates and claim approval rates our incremental black lung charge in the fourth quarter will be approximately $15 million versus our original estimate of $8 million."
07:34 EDTSXCSunCoke begins executing contingency plan to downsize coal mining business
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December 14, 2014
17:21 EDTCMCSKNasdaq announces annual re-ranking of the NASDAQ-100
The NASDAQ OMX Group (NDAQ) announced the results of the annual re-ranking of the NASDAQ-100 (NDX), which will become effective prior to market open on Monday, December 22. The following three companies will be added to the Index: American Airlines Group (AAL), Electronic Arts (EA) and Lam Research (LRCX). As a result of the revision in the index methodology allowing multiple share classes of index participants to be included in the index, the following three securities will also be added to the index: Comcast Corporation Class A Special (CMCSK), Twenty-First Century Fox Class B (FOX) and Liberty Global plc Class C (LBTYK). As a result of the re-ranking, the following three companies will be removed from the Index: Expedia (EXPE), F5 Networks (FFIV) and Maxim Integrated Products (MXIM).
December 12, 2014
10:35 EDTSEASSeaWorld CEO exit sparks talk of Busch Gardens split
Shares of theme park operator SeaWorld (SEAS) climbed in early trading, but have since given up their gains, following the departure of the company's CEO and president, Jim Atchison. Research firm FBR Capital suggested that the company could be split into two parts. According to the firm, SeaWorld's stock could eventually be worth about double its present value if the company does decide to pursue a break-up. WHAT'S NEW: After SeaWorld announced last night that its current CEO would step down from the position as of January 15 and be replaced on an interim basis by its chairman, FBR Capital analyst Barton Crockett wrote that a split up of the company "looks compelling." Specifically, SeaWorld could split its SeaWorld parks off from the other parks it owns, including Busch Gardens and Sesame Place, the analyst stated. In such a scenario, the other parks could be seen as an eventual takeover target for theme park operators Six Flags (SIX) and Cedar Fair (FUN), although an acquisition would not take place for two years due to tax issues, Crockett stated. Following a split, truncated SeaWorld should be valued at $4 per share, while the other parks could trade at $12 per share, the analyst stated. However, the spun off SeaWorld shares could eventually rebound to $17 if its initiatives to revitalize its weak attendance bear fruit or if it turns itself into a REIT, Crockett stated. Under the scenario outlined by Crockett, SeaWorld's stock, currently trading at about $16.60, could be worth $29. Additionally, split off SeaWorld could be taken private a few years later at a 30% premium, Crockett believes. While the analyst does not think the board wants to split the company, he says that the CEO vacancy could spark greater interest in the idea among investors, or CEO candidates could embrace the concept. Crockett kept a $20 price target and Outperform rating on SeaWorld. WHAT'S NOTABLE: SeaWorld's CEO change is likely to be viewed positively by investors, given the challenges faced by the company, Wells Fargo analyst Timothy Conder wrote in his own note to investors today. However, the analyst thinks the company lacks fundamental catalysts through the first half of next year and is facing difficult comparisons. He kept a Market Perform rating on the shares. PRICE ACTION: In early trading, SeaWorld fell 4c, or 0.25%, to $16.06.
08:41 EDTSEASSeaWorld CEO change could drive split interest, says FBR Capital
FBR Capital believes shares of SeaWorld could be worth up to $29 if the company were to spin off Busch Gardens into a separate public entity. FBR says the potential upside looks "compelling," but admits it does not think the board wants to split. However, it believes the CEO transition could spark greater investor interest in the idea. FBR keeps an Outperform rating on SeaWorld after the company announced that Jim Atchison is stepping down as CEO. It has a $20 price target for shares.
06:03 EDTSEASSeaWorld says new restructuring program to include job cuts
SeaWorld said last night that it continues to advance its previously announced company-wide cost initiative, including its plan to deliver approximately $50M of annual cost savings by the end of 2015. As part of that plan, the company announced a restructuring program across its entire 11-park enterprise. "This effort will centralize some operations, reduce duplication of functions and increase efficiencies and accelerate execution. The restructuring will result in the loss of some positions, and the Company will offer severance benefits to those impacted," SeaWorld said.
December 11, 2014
18:14 EDTSEASOn The Fly: After Hours Movers
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16:05 EDTSEASSeaWorld names David D'Alessandro as Interim CEO
SeaWorld announced that, effective January 15, 2015, Chairman David F. D'Alessandro will serve as the company's interim CEO until the board selects a permanent successor to current CEO and president, Jim Atchison, who will become vice chairman of the board. D'Alessandro, who has been chairman of the company's board since 2010, will continue in that position. In addition, Atchison will serve as a consultant to the company with respect to international expansion and the company's conservation initiatives. The company will also nominate Atchison to serve as the chairman of the board of the not-for-profit, independent SeaWorld & Busch Gardens Conservation Fund. The board, which expects to complete the search in six to nine months, has engaged an executive search firm to assist in the search for Atchison's successor.
09:17 EDTSEASSeaWorld valuation compelling, says Credit Suisse
Credit Suisse said it remains comfortable with its Buy rating and $23 price target ton SeaWorld following a visit to Orlando. The analyst expects management cost cutting efforts to be implemented near-term and for the company to benefit from an improving consumer backdrop and rising industry fundamentals.
December 10, 2014
15:01 EDTMILLMiller Energy downgraded to Neutral from Buy at Sidoti
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13:34 EDTMILLMiller Energy price target lowered to $3 from $6 at Brean Capital
Brean Capital cut its price target on Miller after the company reported weaker than expected results. The firm says that the company lacked productive drilling outcomes in fiscal Q2. Brean added that the company's liquidity position remains "tenuous" but it expects the company's capital position to improve next year, Brean keeps a buy rating on the stock.
08:56 EDTMILLMiller Energy reports Q2 EPS ($3.71), may not compare to consensus (21c)
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December 9, 2014
11:11 EDTCMCSKDiscovery, Hulu announce new distribution agreement
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06:25 EDTCMCSKComcast, USA Network trialing 'Playing House' on-demand , WSJ reports
Comcast (CMCSA) is planning to make new episodes of the sitcom "Playing House" available first on its on-demand service and air them on the USA Network the following week, The Wall Street Journal reports. Reference Link
December 8, 2014
08:23 EDTSEASCredit Suisse to hold a field trip
Timeshare & Theme Park Trip travels throughout Orlando, Florida on December 8.
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