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Stock Market & Financial Investment News

News Breaks
August 11, 2014
16:50 EDTKMP, MFRM, EPB, WAC, KMR, INO, CQB, KMIOn 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
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November 24, 2014
17:31 EDTINOInovio CEO says company has enough cash without partners
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07:33 EDTINOBrean Capital to hold a summit
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November 21, 2014
15:08 EDTKMIOptions Update; November 21, 2014
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November 20, 2014
15:44 EDTKMIOptions Update; November 20, 2014
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13:05 EDTKMIKinder Morgan projects $2.00 per share dividend for 2015
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13:04 EDTKMR, KMP, KMI, EPBKinder Morgan announces shareholder approval of merger transactions
Kinder Morgan (KMI) announced that at special meetings held by each of KMI, Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB), unitholders and shareholders approved all proposals related to the merger transactions previously announced on Aug. 10. More than 95% of the votes cast at the special meeting of each company were voted in favor of the proposals related to the merger transactions. The deadline for KMP and EPB unitholders to elect the form of consideration they wish to receive in each of KMPís and EPBís pending mergers with KMI is 5:00 p.m. ET on Nov. 24, 2014. The election deadline may be extended, in which case KMI will issue a press release announcing the new election deadline. The closing of each merger is expected to occur on Nov. 26, 2014. Accordingly, it is expected that Nov. 26 will be the last trading day for KMP and EPB units as well as KMR shares.
09:43 EDTKMI, EPB, KMP, KMRKinder Morgan to host special shareholder meeting
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09:37 EDTKMI, EPBEl Paso Pipeline to host special shareholder meeting
Special shareholder meeting to approve the merger agreement with Kinder Morgan, Inc. is being held in Houston, Texas on November 20 at 11 am.
08:03 EDTINOInovio's melanoma immunotherapy shows positive preclinical survival results
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November 18, 2014
07:52 EDTWACWalter Investment downgraded at Evercore ISI
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06:22 EDTWACWalter Investment downgraded to Hold from Buy at Evercore ISI
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November 17, 2014
16:31 EDTCQBGabelli reports 6.52% stake in Chiquita
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09:22 EDTINOOn The Fly: Pre-market Movers
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07:33 EDTKMPMatrix Service awarded EPC contract by Kinder Morgan Energy
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07:12 EDTKMIBloomberg / Mayer Brown to co-host a conference
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05:30 EDTINOInovio, Roche terminate collaboration for INO-5150
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November 14, 2014
12:53 EDTKMIOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
07:05 EDTEPB, KMP, KMIKinder Morgan says expected closing date of merger Nov. 24
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November 13, 2014
14:50 EDTKMILonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTKMILonestar capital to shut down, DJ reports
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