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Stock Market & Financial Investment News

News Breaks
July 3, 2013
10:53 EDTBBEP, EVEP, LNCO, LRE, VNR, LINE, QREMLPs continue slide while SEC probes LINN merger
Shares of several master limited partnerships and related pipeline operators are continuing their slide lower after LINN Energy (LINE) and LinnCo (LNCO) disclosed yesterday that the SEC has opened an informal inquiry into the companies. WHAT'S NOTABLE: The SEC is looking into LINN Energy and LinnCo’s merger with Berry Petroluem (BRY), the companies announced yesterday, which sent shares of both names down over 15%. The sell-off continued today after R.W. Baird said in a note to investors that it is increasingly cautious on the whole sector, noting that LINN peer BreitBurn's (BBEP) failure to finance part of a recent transaction put a target on the company for short sellers. Baird added that it expects the whole MLP sector to underperform in the short run as more LINN peers are targeted by those betting the stocks will decline. OTHERS TO WATCH: Shares of LINN are down more than 8% and LinnCo shares are lower by more than 7% in late morning trade. Also lower are shares of BreitBurn, down 6.5%, and Vanguard Natural Resources (VNR), down more than 8%.
News For LINE;LNCO;BBEP;VNR;EVEP;QRE;LRE From The Last 14 Days
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March 30, 2015
10:17 EDTBBEPBreitBurn Energy liquidity concerns removed, says BofA/Merrill
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10:00 EDTBBEPOn The Fly: Analyst Downgrade Summary
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07:33 EDTBBEPBreitBurn Energy downgraded to Sell from Hold at Wunderlich
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05:53 EDTLNCO, LINELINN Energy downgraded to Sell from Neutral at UBS
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05:52 EDTLINE, LNCOLinnCo downgraded to Sell from Neutral at UBS
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March 29, 2015
19:11 EDTBBEPBreitBurn to reduce common distribution to 50c per unit on an annualized basis
Breitburn announced that it intends to reduce its common distribution to 50c per unit on an annualized basis in conjunction with private offerings. The company noted, "This lower distribution rate is part of an overall plan to increase Breitburn’s liquidity and strategic flexibility for a potentially prolonged market downturn."
19:07 EDTBBEPBreitBurn Energy announces $1B strategic investment by EIG
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March 26, 2015
10:30 EDTLINEOptions with decreasing implied volatility
Options with decreasing implied volatility: ASPS WLL WBAI CTRP FIVE LINE DRC RHT LULU APOL
March 25, 2015
10:36 EDTLNCOOptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD WLL WBAI ASPS GES PSEC CTRP LNCO VRTX ARP
10:00 EDTLRE, BBEPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Overweight at HSBC... BreitBurn Energy (BBEP) downgraded to Sell from Neutral at UBS... DiamondRock (DRH) downgraded to Reduce from Neutral at SunTrust... Ethan Allen (ETH) downgraded to Hold from Buy at Gabelli... Felcor Lodging (FCH) downgraded to Neutral from Buy at SunTrust... Finish Line (FINL) downgraded to Neutral from Buy at B. Riley... Hannover Re (HVRRY) downgraded to Sell from Hold at Deutsche Bank... Hersha Hospitality (HT) downgraded to Reduce from Neutral at SunTrust... Host Hotels (HST) downgraded to Reduce from Neutral at SunTrust... ING Groep (ING) downgraded to Neutral from Buy at Goldman... Informatica (INFA) downgraded to Neutral from Buy at Mizuho... Kofax (KFX) downgraded to Hold from Buy at Canaccord... LRR Energy (LRE) downgraded to Sell from Neutral at UBS... LaSalle Hotel (LHO) downgraded to Reduce from Neutral at SunTrust... Munich Re (MURGY) downgraded to Sell from Hold at Deutsche Bank... Orbital ATK (OA) downgraded to Market Perform from Outperform at Wells Fargo... PCTEL, Inc. (PCTI) downgraded to Neutral from Buy at B. Riley... Quest Diagnostics (DGX) downgraded to Hold from Buy at Deutsche Bank... SJW Corp. (SJW) downgraded to Neutral from Outperform at RW Baird... Selective Insurance (SIGI) downgraded to Neutral from Buy at BofA/Merrill... Sonus (SONS) downgraded to Hold from Buy at Wunderlich... Starwood (HOT) downgraded to Neutral from Buy at SunTrust... Synchrony Financial (SYF) downgraded to Neutral from Buy at BofA/Merrill... Tesla (TSLA) downgraded to Underperform from Outperform at CLSA... Twitter (TWTR) downgraded to Hold from Buy at Pivotal Research... ZAGG (ZAGG) downgraded to Market Perform from Outperform at Northland... iDreamSky (DSKY) downgraded to Neutral from Overweight at JPMorgan.
05:30 EDTLRELRR Energy downgraded to Sell from Neutral at UBS
UBS downgraded LRR Energy to Sell saying leverage above four times, upcoming debt redeterminations and weak commodity pricing create the potential for significant distribution cuts. UBS cut its price target for shares to $5 from $7.
05:29 EDTBBEPBreitBurn Energy downgraded to Sell from Neutral at UBS
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March 24, 2015
10:17 EDTLNCOOptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD NKTR GES VHC CTRP WSM WLL LNCO NLY ORCL
06:49 EDTLNCO, LINELINN Energy signs $1B letter of intent with Quantum Energy Partners
LINN Energy (LINE) and LinnCo (LNCO) announced that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acquired assets. Subject to final documentation, Quantum has agreed to initially commit up to $1B of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15% to 50%. AcqCo assets will be managed by LINN in exchange for a reimbursement of general and administrative expenses. Additionally, after certain investor return hurdles are met, LINN will have the ability to earn a promoted interest in AcqCo. Upon the sale of any assets within AcqCo, LINN will be given right of first offer to acquire those assets.
March 23, 2015
14:34 EDTBBEPBreitBurn Energy receives IRS notice on recent acquisition QRE
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