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Stock Market & Financial Investment News

News Breaks
February 19, 2013
10:27 EDTLINELINN Energy responds to short seller allegations regarding hedging
LINN Energy (LINE) disclosed in a regulatory filing after the close Friday that the company was providing information about its hedging strategy and rationale in response to "inaccurate statements" made by "an anonymous short seller" The company's CEO, Mark Ellis, stated, “Since our IPO, hedging our oil and natural gas production has always been an important strategy for the company and our investors. Our hedge strategy has served LINN and our investors well through a variety of commodity price cycles. Hedging will continue to be an integral part of LINN’s strategy.” The company also stated that in evaluating the issue it has identified other publicly traded partnerships that purchase derivatives and "all of these companies account for derivatives the same way LINN does," adding that the company "has yet to identify any publicly traded partnerships that account for it differently." In addition to the short seller report that LINN responded to, Barron's stated in an article this weekend that the company's shares could be over-valued. In a note to investors this morning, Wells Fargo analyst Praneeth Satish said that the short-seller and Barron's reports overstate the impact of LINN's treatment of its derivative contracts on the company's financials. Satish added that the issue is not new, having been brought up previously as far back as 2010, and reiterated the firm's Outperform rating on the stock. In morning trading, LINN Energy shares fell 2.4% to $35.07.
News For LINE From The Last 14 Days
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September 18, 2014
17:08 EDTLINEExxon Mobil continues to increase Wolfcamp Position in Permian Basin
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17:04 EDTLINELINN Energy, LinnCo announce Permian-California trade with Exxon Mobil
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September 8, 2014
10:06 EDTLINEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
07:31 EDTLINELINN Energy reinstated with an Outperform at Credit Suisse
Target $35.

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