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Stock Market & Financial Investment News

News Breaks
January 3, 2013
10:25 EDTSPWR, VC, LM, NFX, IRM, EWTHigh options volume today: IRM, EWT, FSL, SPWR, VC, LM, NFX
News For IRM;EWT;SPWR;VC;LM;NFX From The Last 14 Days
Check below for free stories on IRM;EWT;SPWR;VC;LM;NFX the last two weeks.
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July 24, 2014
08:32 EDTLMLegg Mason acquires Martin Currie
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July 18, 2014
12:48 EDTSPWRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
10:03 EDTIRMOn The Fly: Analyst Downgrade Summary
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08:42 EDTIRMIron Mountain downgraded at RW Baird
As previously reported, Baird downgraded Iron Mountain to Neutral from Outperform. The firm expects the REIT conversion will require significant capital commitments due to the high dividend, which will leave little capital for larger growth investments. Additionally, the analyst believe equity dilution risk is not fully appreciated. Price target lowered to $39 from $40.
06:47 EDTNFXNewfield Exploration removed from short-term buy list at Deutsche Bank
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06:11 EDTIRMIron Mountain downgraded to Neutral from Outperform at RW Baird
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July 17, 2014
08:11 EDTNFXNewfield Exploration raises FY14 production to 46.5-48.5 MMBoe from 44-48 MMBoe
Newfield expects that its planned 2014 domestic capital investments will total about $1.7B from $1.6B. The additional investments specifically relate to improved drilling performance across the company and the addition of new acreage in the Anadarko Basin. Due to continued operational efficiencies, Newfield expects to drill up to 15 additional gross wells across its focus areas in 2014. Newfield's net production from continuing operations in the second quarter of 2014 was 12.1 MMBOE from 10.7 11.3 MMBOE. Liquids comprised approximately 55% of second quarter production volumes. Net liftings from discontinued operations totaled less than 0.1 MMBOE. Domestic production in the second quarter increased 12% over the first quarter of 2014 and 21% over the comparable quarter of 2013. Domestic liquids production in the second quarter of 2014 increased 13% over the first quarter of 2014 and 40% over the comparable quarter of 2013.
July 16, 2014
08:45 EDTVCVisteon agrees to transfer certain U.S. pension assets to Prudential
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July 15, 2014
07:04 EDTSPWRWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
July 14, 2014
11:16 EDTSPWRWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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10:00 EDTVCOn The Fly: Analyst Downgrade Summary
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08:07 EDTIRMIron Mountain management to meet with JPMorgan
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05:38 EDTVCVisteon downgraded to Equal Weight from Overweight at Barclays
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July 11, 2014
07:56 EDTLMLegg Mason reports assets under management $704B as of June 30
This month's AUM included fixed income inflows of approximately $500M, equity outflows of approximately $200M and liquidity inflows of $9.6B. June AUM included a positive foreign exchange impact of approximately $1B.
July 10, 2014
10:44 EDTVCTRW approached about buyout by ZF Friedrichshafen, Bloomberg says
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10:42 EDTVCLear, Magna, Visteon higher after report of TRW takeover interest
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