New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 8, 2014
06:41 EDTBRGYY, LNG, ETP, D, ETE, SREU.S. can do little to get gas to Europe in short-term, NY Times says
Although U.S. politicians are talking about exporting gas to Europe to reduce the continent's dependency on Russia, America can export little gas to Europe in the short-term, according to The New York Times. Moreover, a facility being built by Cheniere Energy (LNG) is the only plant that has received all of the regulatory approvals necessary to export natural gas, and in 2017 it will only be able to handle one-sixth of the total amount of gas exported by Russia to Europe, the newspaper added. Companies that are looking to export natural gas from the U.S. other than Cheniere include Sempra (SRE), Dominion (D), BG Group (BRGYY), and Southern Union, which is jointly owned by Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). Gazprom (OGZPY) is Russia's largest natural gas exporter. Reference Link
News For LNG;SRE;D;BRGYY;ETE;ETP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 26, 2015
16:39 EDTETPOn The Fly: Closing Wrap
Subscribe for More Information
12:23 EDTETPOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firm’s failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
09:20 EDTETPEnergy Transfer Partners raises quarterly distribution 2c to 99.5c
Energy Transfer Partners announced that its board has approved a 2c increase in its quarterly distribution to 99.5c per ETP common unit for Q4. The quarterly distribution represents an increase of 30c per common unit on an annualized basis, or 8.2%, compared to Q4 of 2013, and represents an annualized distribution increase of 8c per common unit compared to Q3. The cash distribution will be paid on February 13, to unitholders of record as of the close of business on February 6.
09:18 EDTETEEnergy Transfer Equity raises Q4 distribution 3.5c to 45c
Energy Transfer Equity announced that its board has approved a 3.5c increase in its quarterly cash distribution to 45c per ETE common unit for Q4, or $1.80 per unit on an annualized basis. Adjusting for the ETE unit split completed in January 2014, the quarterly distribution represents an increase of 30% on an annualized basis compared to Q4 of 2013. The cash distribution will be paid on February 19, to unitholders of record as of the close of business on February 6.
09:11 EDTETE, ETPEnergy Transfer Partners, Regency Energy Partners to merge
Energy Transfer Partners (ETP) and Regency Energy Partners (RGP) announced they have entered into a definitive merger agreement. This merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of approximately $18B, including the assumption of net debt and other liabilities of $6.8B. The transaction is expected to close in the second quarter of 2015. Under the terms of the merger agreement, which has been approved by the Boards of Directors and Conflicts Committees of both ETP and Regency, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of 32c for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP’s closing price on January 23. The consideration to be received by Regency common unitholders represents an approximately 13% premium to the closing price of Regency’s common units of $23.75 on January 23, and an approximately 15% premium to the volume weighted average price of Regency’s common units for the last 3 trading days ending January 23. In addition, Energy Transfer Equity (ETE), which owns the general partner and 100% of the incentive distribution rights of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320M over a five year period. The IDR subsidy will be $80M in the first year post closing and $60M per year for the following four years. The proposed merger has been discussed with the ratings agencies and it is anticipated that the merger will have no impact to ETP’s credit ratings and that Regency’s ratings will be put on review for upgrade. Pro forma for the merger, ETP will be the second largest MLP and will be well diversified both geographically, with operations in substantially all major producing areas in the United States, and across business lines, with a unique franchise across the energy midstream value chain. Completion of the merger is subject to customary closing conditions, including approval of the respective ETP and Regency unitholders and observation of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, if applicable. The required threshold for approval of each partnerships unitholders is a simple majority of issued and outstanding units.
09:10 EDTETPRegency Energy Partners holders to receive $26.89 in cash and stock in merger
Subscribe for More Information
09:07 EDTETPEnergy Transfer Partners, Regency Energy Partners to merge
Subscribe for More Information
January 21, 2015
10:47 EDTETPOptions with decreasing implied volatility
Subscribe for More Information
10:01 EDTETPOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
07:13 EDTETPEnergy Transfer Partners upgraded to Outperform from Neutral at Credit Suisse
Subscribe for More Information
January 16, 2015
10:15 EDTETEOptions with decreasing implied volatility: BBY ETE CBST
Subscribe for More Information
10:01 EDTBRGYYOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:31 EDTBRGYYBG Group upgraded to Overweight from Neutral at JPMorgan
Subscribe for More Information
07:29 EDTETPSunoco named best idea for 2015 at Stephens
Stephens made Sunoco (SUN) its 2015 best idea, citing solid visibility into sustained long-term distribution growth and the firm's estimate that the company has over $600M of EBITDA that can be dropped down from Energy Transfer Partners (ETP) over the next 18 to 30 months. Stephens has an Overweight rating and $60 price target on Sunoco.
January 15, 2015
15:18 EDTETEPioneer pipeline unit draws interest from multiple bidders, Bloomberg says
Subscribe for More Information
15:06 EDTETPPioneer pipeline unit said to draw interest, Bloomberg says
Subscribe for More Information

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