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Stock Market & Financial Investment News

News Breaks
January 24, 2013
05:55 EDTMERC, MERC, MERC, TAC, TAC, TAC, TLM, TLM, TLM, CVE, CVE, CVE, TCK, TCK, TCK, ENB, ENB, ENB, RIOM, RIOM, RIOM, ECA, ECA, ECACIBC to host a conference
Whistler Institutional Investor Conference is being held in Whistler, British Columbia on January 23-26.
News For MERC;TAC;TLM;CVE;TCK;ENB;RIOM;ECA From The Last 14 Days
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September 1, 2015
17:18 EDTENBEnbridge closes transfer of assets to Enbridge Income Fund for $30.4B
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August 27, 2015
08:05 EDTTCKNew Gold to sell El Morro Interest to Goldcorp for $90M and 4% gold stream
New Gold (NGD) has entered into an agreement with Goldcorp (GG) to sell New Gold's 30% interest in the El Morro project to Goldcorp in exchange for $90M in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold's $93M carried funding loan. The $90M are to be paid at closing of the transaction, expected to be in Q4. The 4% stream is on life-of-project gold production from the 417 square kilometre El Morro property, with currently estimated gold mineral reserves of 599M tons at an average gold grade of 0.46 g/T, totalling 8.9M oz. New Gold will pay a fixed $400/oz. on the first 217K ounces of gold delivered as part of the stream. New Gold will no longer be obligated to repay the $93M in debt that Goldcorp funded on the company's behalf. Goldcorp and Teck Resources (TCK) plan to combine their respective El Morro and Relincho projects into a 50/50 joint venture with the interim name of Project Corridor. Goldcorp and Teck are expecting to commence a Pre-Feasibility Study in early 2016 which should be completed 12 to 18 months thereafter.
08:03 EDTTCKGoldcorp, Teck Resources combine El Morro, Relincho projects in Chile
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August 26, 2015
10:00 EDTMERCOn The Fly: Analyst Upgrade Summary
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08:51 EDTMERCMercer upgraded to Strong Buy from Outperform at Raymond James
Raymond James upgraded Mercer to Strong Buy due to the selloff in shares and said softwood pulp market fundamentals remains strong.
August 25, 2015
06:39 EDTTACTransAlta upgraded to Sector Performer from Underperformer at CIBC
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06:03 EDTECAEncana agrees to sell Haynesville assets for $850M
Encana announced that its wholly-owned subsidiary, Encana Oil & Gas, has reached an agreement to sell its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville, a joint venture formed by GeoSouthern Haynesville, LP and funds managed by GSO Capital Partners LP. Total cash consideration to Encana under the transaction is $850M. In addition, through the transfer of current and future obligations, Encana will reduce its gathering and midstream commitments, which will be substantially complete through 2020, by approximately $480M on an undiscounted basis. Further, Encana will transport and market GeoSouthern's Haynesville production on a fee for service basis for the next five years. Encana will use the total cash consideration to reduce its net debt, further strengthening its balance sheet. Consistent with its strategy, Encana remains focused on growing high margin production. Over 80% of 2015 capital will be invested in the company's four most strategic assets in the Permian, Eagle Ford, Duvernay and Montney. During the first half of 2015, Encana's Haynesville assets produced an average 217 mmcf/d, contributed approximately 9% to companywide production and less than 2.5% to Encana's first half operating cash flow, excluding hedges. The sale of Encana's Haynesville assets is subject to satisfaction of normal closing conditions, as well as regulatory approvals and post-closing adjustments, and is expected to close in Q4 with an effective date of January 1.
August 24, 2015
09:45 EDTTACOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
08:57 EDTTACTransAlta upgraded on valuation at BMO Capital
As noted earlier, BMO Capital upgraded Transalta to Outperform from Market Perform. The firm thinks that the stock is pricing in a worst-case Alberta environmental regulatory decision, but failing to price in a likely corresponding rise in power prices. The firm does not think the company will cut its dividend. Target $9.50.
06:41 EDTTACTransAlta upgraded to Outperform from Market Perform at BMO Capital
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August 20, 2015
06:25 EDTCVECanadian oil sands companies struggle from drop in crude prices, WSJ says
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