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Stock Market & Financial Investment News

News Breaks
August 11, 2014
12:25 EDTKMI, CQB, TSLA, KING, KMP, KMR, EPB, INO, GOGOOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. 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 10% 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). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
News For KMI;CQB;TSLA;KING;KMP;KMR;EPB;INO;GOGO From The Last 14 Days
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October 15, 2014
14:37 EDTTSLAMichigan bill blocks Tesla from selling directly to consumers
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11:27 EDTINOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INO ATLS LOCO OPK INFY EUO FDO
11:03 EDTGOGOGogo selected to provide in-flight Wi-Fi on United's two-cabin jet fleet
Gogo (GOGO) announced that it has been selected by United Airlines (UAL) to bring its in-flight Internet service to United's two-cabin regional jet fleet. Installation of Wi-Fi services, which will involve more than 200 aircraft, is expected to begin later this year. The United Express aircraft will be the first regional jets in the United States to be outfitted with Gogo's ATG-4, which more than triples the peak speeds to an aircraft when compared to Gogo's original ATG service that launched in 2008. Additionally, United and Gogo have agreed to partner on offering in-flight entertainment on two-cabin regional jets, beginning early next year, enabling passengers to watch movies and television shows on their Wi-Fi enabled devices. Along with regional jet Wi-Fi and personal device entertainment, late next year, United plans to begin a trial of Gogo's 2Ku satellite Wi-Fi on five of the carrier's aircraft that operate its p.s. "Premium Service" between New York JFK and Los Angeles and New York JFK and San Francisco. These aircraft currently offer Gogo's ATG-4 product.
10:54 EDTCQBChiquita confirms receipt of revised offer from Cutrale-Safra
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10:53 EDTCQBChiquita confirms receipt of revised offer from Cutrale-Safra
09:57 EDTCQBCutrale-Safra submits offer to acquire Chiquita for $14 per share in cash
Cutrale-Safra announced its definitive offer to acquire all the outstanding stock of Chiquita Brands for $14 per share in cash. Having completed its due diligence, Cutrale-Safra has submitted its offer to the Chiquita Board of Directors, together with a form of merger agreement that Cutrale-Safra would be prepared to execute and deliver concurrently with Chiquita entering into such merger agreement and associated disclosure letters. Cutrale-Safra is also delivering to Chiquita equity and debt commitment letters for the transaction. The offer reflects Cutrale-Safra's assessment and analysis of Chiquita's current condition and prospects. Unlike the proposed combination with Fyffes, the superior Cutrale-Safra offer provides Chiquita shareholders complete certainty with respect to the value of their Chiquita investment. This offer represents a premium of approximately 40% to the market's valuation of the original proposed transaction with Fyffes based on Chiquita's undisturbed closing share price of $10.06 as of August 8, and an approximately 19% premium to the adjusted stock price of $11.80, based upon the revised Fyffes transaction. Moreover, the proposed cash consideration of the Cutrale-Safra offer, including the assumption of Chiquita net debt, represents a multiple of approximately 12.4x EBITDA for the twelve months ended June 30. Cutrale-Safra expects to be able to close its offer promptly following entry into the merger agreement. The Cutrale-Safra offer is not subject to any financing conditions. It will be financed with equity provided by affiliates of the Cutrale Group and Safra Group. Cutrale-Safra has received a commitment letter for facilities to refinance Chiquita's existing credit facilities and a letter agreement pursuant to which Bank Safra Sarasin is obligated to make an offer to purchase Chiquita's 7.875% Senior Secured Notes due 2021 as required by the relevant indenture in connection with the transactions contemplated by the merger agreement. The form of merger agreement is on substantially similar terms to the Fyffes transaction agreement. Cavendish Acquisition will file a copy of the form of merger agreement with the Securities and Exchange Commission by close of business. Cutrale–Safra does not believe there are any regulatory obstacles that would prevent it from closing promptly following entry into the merger agreement.
09:38 EDTTSLAActive equity options trading on open
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09:26 EDTCQBCutrale-Safra submits offer to acquire Chiquita for $14/share in cash
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09:12 EDTCQBCutrale-Safra raises offer for Chiquita to $14 per share, Bloomberg reports
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06:39 EDTTSLATesla signs deal to build 200 more China charging stations, WantChinaTimes says
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05:58 EDTKMIStocks with implied volatility movement; KMI VLO
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October 14, 2014
16:53 EDTKMR, KMP, KMI, EPBTennessee Gas Pipeline closes open season for South System Flexibility Project
Kinder Morgan Energy Partners (KMP) announced that KMP’s Tennessee Gas Pipeline Company, or TGP, successfully closed a binding open season for its South System Flexibility Project for 500,000 dekatherms per day of capacity. MexGas Supply, formerly known as MGI Supply, the natural gas supply arm of Petróleos Mexicanos, has been awarded 100% of the project capacity. Anticipated project capital is $187M, with service beginning as early as Jan. 1, 2015. In addition, TGP initiated a binding open season Oct. 9 for its proposed Lone Star expansion project, which includes an incremental 300,000 Dth/d of firm transportation from Tennessee to South Texas for future infrastructure projects. TGP has secured an unnamed foundation shipper for this project and will announce the results and further details upon the close of the open season, which is scheduled for Oct. 31. The volumes committed are sufficient to justify building the project. The general partner of KMP is owned by Kinder Morgan (KMI). KMI owns the general partner interests of KMP and El Paso Pipeline Partners (EPB), along with limited partner interests in KMP, Kinder Morgan Management (KMR) and EPB.
16:42 EDTCQBChiquita Brands sees Q3 comparable operating income $10-$12M, conensus (13c)
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16:00 EDTTSLAOptions Update; October 14, 2014
iPath S&P 500 VIX Short-Term Futures down 40c to 39.11. Option volume leaders: AAPL TSLA TWTR AMZN GILD C JNJ AA NFLX PBR according to Track Data.
15:13 EDTKMPKinder Morgan Energy announces $240M investment in expansion terminals
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09:54 EDTKINGKing Digital falls, levels to watch
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09:37 EDTTSLAActive equity options trading on open
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October 13, 2014
16:02 EDTTSLAOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
09:39 EDTTSLAActive equity options trading on open
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October 12, 2014
17:21 EDTTSLATesla ahead of other car makers on semiautonomous driving system, WSJ says
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