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Stock Market & Financial Investment News

News Breaks
November 28, 2012
05:04 EDTKEXKirby to acquire Penn Maritime for approximately $295M
Kirby announced that it has entered into an agreement to acquire Penn Maritime and Maritime Investments, an operator of tank barges and tugboats participating in the coastal transportation of primarily black oil products in the U.S. The total value of the transaction is approximately $295M and will consist of cash, Kirby common stock and the retirement of Penn's debt. The transaction will be financed through a combination of borrowing under Kirby's revolving credit facility, issuance of new unsecured fixed rate senior notes, and the issuance of Kirby common stock. The closing of the transaction is expected to occur in mid-to-late December, subject to certain conditions. Under the terms of the agreement, the total value of the transaction is approximately $295M, consisting of $180M for all of the voting and nonvoting equity interests in Penn Maritime Inc. and Maritime Investments and approximately $115M for the retirement of Penn's debt. The $180M consideration paid to Penn equity holders will include a combination of cash of approximately $152M and 500,000 shares of Kirby common stock.
News For KEX From The Last 14 Days
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January 28, 2016
10:05 EDTKEXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Azure Midstream Partners (AZUR) downgraded at Stifel... Chesapeake (CHK) downgraded to Hold from Buy at Wunderlich... CorEnergy (CORR) downgraded at Stifel... DCP Midstream (DPM) downgraded to Hold from Buy at Stifel... DynCorp (DCP) downgraded at Stifel... Ericsson (ERIC) downgraded on challenging outlook at BMO Capital... H&E Equipment (HEES) downgraded to Neutral from Buy at UBS... Halcon Resources (HK) downgraded to Hold from Buy at Wunderlich... InvenSense (INVN) downgraded to Market Perform from Outperform at Barrington... Invitae (NVTA) downgraded to Market Perform from Outperform at Leerink... Kirby (KEX) downgraded to Sector Perform from Outperform at RBC Capital... MEG Energy (MEGEF) downgraded to Equal Weight from Overweight at Barclays... Metro (MTTRY) downgraded to Underweight from Neutral at JPMorgan... OSI Systems (OSIS) downgraded to Hold following Q2 miss at BB&T... Oasis Petroleum (OAS) downgraded to Hold from Buy at Wunderlich... Pan American Silver (PAAS) downgraded to Market Perform from Outperform at FBR Capital... Qualcomm (QCOM) downgraded to Market Perform from Outperform at William Blair... Range Resources (RRC) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Underperform from Market Perform at Bernstein... Royal Gold (RGLD) downgraded to Market Perform from Outperform at FBR Capital... SEI Investments (SEIC) downgraded to Underperform at Keefe Bruyette... SandRidge Energy (SD) downgraded to Sell from Hold at Wunderlich... Seadrill (SDRL) downgraded to Equal Weight from Overweight at Morgan Stanley... ServiceNow (NOW) downgraded to Neutral from Buy at MKM Partners... State Bank Financial (STBZ) downgraded to Hold from Buy at Sandler O'Neill... Sunoco Logistics (SXL) downgraded at Stifel... Tallgrass Energy GP (TEGP) downgraded to Hold from Buy at Stifel... Tallgrass Energy (TEP) downgraded to Hold from Buy at Stifel... Textron (TXT) downgraded to Hold from Buy at Drexel Hamilton... TripAdvisor (TRIP) downgraded to Underperform from Market Perform at Raymond James... Tupperware Brands (TUP) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Steel (X) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Neutral from Buy at UBS... Welltower (HCN) downgraded to Hold from Buy at Evercore ISI... Western Gas Partners (WES) downgraded to Hold from Buy at Stifel... Whiting Petroleum (WLL) downgraded to Hold from Buy at Wunderlich.
06:06 EDTKEXKirby downgraded to Sector Perform from Outperform at RBC Capital
January 27, 2016
17:10 EDTKEXKirby sees Q1 EPS 75c-85c, consensus 97c
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17:09 EDTKEXKirby sees FY16 EPS $3.00-$3.50, consensus $4.13
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17:06 EDTKEXKirby reports Q4 EPS 94c, consensus 97c
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