New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 11, 2014
16:50 EDTMFRM, INO, WAC, KMP, KMR, EPB, KMI, CQBOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
News For KMI;CQB;MFRM;INO;WAC;KMP;KMR;EPB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
October 24, 2014
09:28 EDTCQBChiquita says shareholders reject merger with Fyffes
Subscribe for More Information
07:50 EDTKMPKinder Morgan Energy downgraded to Hold from Buy at Argus
Subscribe for More Information
07:34 EDTKMPNEB prevents City of Burnaby from blocking Trans Mountain
Subscribe for More Information
07:10 EDTCQBChiquita considered Cutrale/Safra offer, reaffirms Fyffes merger recommendation
Subscribe for More Information
05:27 EDTMFRMMattress Firm initiated with an Overweight at Barclays
Subscribe for More Information
October 23, 2014
12:50 EDTCQBWynnefield affirms support of Chiquita takeover by Cutrale-Safra
Subscribe for More Information
10:13 EDTCQBChiquita says board will 'carefully review' new Cutrale/Safra offer
Subscribe for More Information
09:03 EDTCQBCutrale-Safra raises buyout offer for Chiquita to $14.50 per share
Subscribe for More Information
08:55 EDTCQBCutrale-Safra raises Chiquita acquistion offer to $14.50 per share from $14
Subscribe for More Information
October 21, 2014
12:29 EDTCQBChiquita retiterates 'value' of combination with Fyffes
Chiquita Brands reiterated the value of Chiquita's combination with Fyffes and set the record straight regarding the inaccurate and misleading statements made by the Cutrale Group and the Safra Group in an attempt to support its inadequate $14.00 per share offer to acquire Chiquita. The company said, "The strategic benefits of the Chiquita/Fyffes merger are clear and allow Chiquita shareholders to participate in the significant upside potential of the combined organization. Chiquita shareholders will share access to $62M of Fyffes EBITDA and share in $60M of identified, third party reviewed synergies in the combined company with clear and actionable steps identified in each synergy area. Chiquita shareholders will also retain the option to sell ChiquitaFyffes at a premium in the future."
12:15 EDTWACOcwen falls after accused of backdating letters by NY regulator
Subscribe for More Information
07:26 EDTKMPKinder Morgan pipeline faces opposition from native tribes, Reuters says
Kinder Morgan's plans for a Canadian pipeline expansion worth $4.8B is now up against lawsuits from indigenous communities who are aiming to use the courts to hinder the proposed oil pipeline, according to Reuters, citing comments from Grand Chief of the Union of British Columbia Indian Chiefs Stewart Phillip. Reference Link
06:10 EDTINOInovio, MedImmune, UPENN awarded $12.2M collaborative study by DARPA
Inovio Pharmaceuticals (INO) announced the Defense Advanced Research Projects Agency, or DARPA, has awarded $12.2M for a collaborative study that will be conducted by scientists from the Perelman School of Medicine at the University of Pennsylvania; Inovio Pharmaceuticals; and MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The group will develop DNA-based monoclonal antibodies, or mAbs, for infectious disease treatment. DARPA is an agency of the US Department of Defense that creates and supports novel technologies important for national security. Together, the three organizations will develop and assess the DNA mAbs in preclinical studies using technology developed by Penn and licensed by Inovio. The collaboration will focus on three disease areas Ė influenza virus, Pseudomonas aeruginosa and Staphylococcus aureus.
October 20, 2014
10:52 EDTMFRMMattress Firm completes acquisition of Sleep Train
Subscribe for More Information
10:30 EDTCQBISS recommends Chiquita shareholders vote for combination with Fyffes
Subscribe for More Information
08:52 EDTCQBWynnefield rejects Chiquita-Fyffes proposal
Subscribe for More Information
October 17, 2014
15:51 EDTCQBCutrale-Safra not considering raising $14-per-share Chiquita offer, Reuters says
Subscribe for More Information
14:50 EDTCQBCutrale-Safra not considering raising $14-per-share Chiquita offer, Reuters says
09:43 EDTCQBChiquita to host special shareholder meeting
Subscribe for More Information
06:42 EDTMFRMMattress Firm upgraded to Buy from Hold at KeyBanc
KeyBanc upgraded Mattress Firm to Buy based on valuation, favorable industry trends, and acquisition synergies. Price target is $68.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use