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Stock Market & Financial Investment News

News Breaks
January 2, 2013
08:02 EDTINTWorld Fuel Services completes acquisition of Multi Service assets
World Fuel Services has completed the previously announced acquisition of select assets of Multi Service Corporation, a global transaction management company specializing in fleet, government, and commercial payment programs. The transaction is expected to be 12c-16c accretive to earnings on a GAAP basis in the first twelve months. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately 4c per share, is expected to be 16c-20c in the first twelve months. In conjunction with this acquisition, the company will record one-time transaction-related expenses of approximately $2.8M in 4Q12.
News For INT From The Last 14 Days
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December 16, 2014
09:59 EDTINTOn The Fly: Analyst Upgrade Summary
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07:26 EDTINTWorld Fuel Services upgraded to Overweight from Equal Weight at Stephens
Stephens upgraded World Fuel Services to Overweight from Equal Weight citing the recent volatility in fuels markets, which the firm believes creates the ideal operating environment for World Fuel. Stephens sees the potential for significant upside to estimates in FY15 and raised its price target on the stock to $60 from $48.
December 8, 2014
08:07 EDTINTWorld Fuel Services announces sale of interests in crude oil JVs
World Fuel Services Corporation announced that its wholly-owned subsidiary, Petroleum Transport Solutions, LLC, has sold its crude oil joint venture interests, which includes the Pioneer Terminal in New Town, North Dakota, to its joint venture partner for a base sales price of $43M. In addition to the base sales price, PTS will receive future contingent payments equal to 22.5c per barrel for crude oil received at the Pioneer Terminal, up to a limit of 80,000 barrels per day through December 2026. The transaction will result in a one-time after-tax gain of approximately $11M or 15c per diluted share, which will be included in the company’s 2014 fourth quarter results.

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