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Stock Market & Financial Investment News

News Breaks
January 6, 2014
08:01 EDTINTWorld Fuel Services to acquire Watson Petroleum for $191M
World Fuel Services announced that a wholly-owned subsidiary of the company has signed a definitive agreement to acquire Watson Petroleum Limited, a distributor of gasoline, diesel, heating oil, lubricants and other products and related services across England and Wales, for a purchase price of GBP117M, or $191M. The purchase price will be funded through cash-on-hand and the company’s existing credit facilities. The transaction is expected to be 18c-22c accretive to earnings on a GAAP basis in the first twelve months. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately 10c per share, is expected to be 28c-32c in the first twelve months. The transaction is subject to customary regulatory consents and closing conditions and is expected to be completed within the next ninety days.
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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