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Stock Market & Financial Investment News

News Breaks
February 12, 2013
08:12 EDTMHRMagnum Hunter announces operational update, FY13 capex budget
Magnum Hunter Resources announced an operational update on each of the company's upstream unconventional resource plays for Q4 and provided an operational update for the company's midstream division, Eureka Hunter Pipeline. During Q4, the Eagle Ford division placed on production 6 gross operated wells and 1 gross non-operated wells in the Eagle Ford Shale of South Texas. The company's board has approved a capital expenditure budget for FY13 of $300M for upstream activities. Magnum Hunter believes the 2013 capex budget will allow for an estimated 2013 production exit rate of 23,000 Boepd - 25,000 Boepd. This represents an estimated growth rate of 24% - 35% in exit rates when comparing 2013 to 2012.
News For MHR From The Last 14 Days
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April 16, 2015
12:16 EDTMHRMagnum Hunter management to meet with SunTrust
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April 15, 2015
07:11 EDTMHRMagnum Hunter reports Q1 production up about 66% to about 14.7 Bcfe
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06:40 EDTMHRMagnum Hunter coverage resumed with a Neutral at Goldman
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April 6, 2015
10:02 EDTMHROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Sell from Hold at Deutsche Bank... CONSOL (CNX) downgraded to Hold from Buy at Deutsche Bank... Catamaran (CTRX) downgraded to Market Perform from Outperform at BMO Capital... Comerica (CMA) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Market Perform from Outperform at FBR Capital... Magnum Hunter (MHR) downgraded to Hold from Buy at Wunderlich... Qualcomm (QCOM) downgraded to Market Perform from Outperform at FBR Capital... Regions Financial (RF) downgraded to Neutral from Buy at Guggenheim... SAP (SAP) downgraded at Wells Fargo... Sanderson Farms (SAFM) downgraded to Underweight from Sector Weight at KeyBanc... Scorpio Tankers (STNG) downgraded to Neutral from Accumulate at Global Hunter... Simpson Manufacturing (SSD) downgraded to Neutral from Buy at DA Davidson... Skyworks (SWKS) downgraded at Stephens... TripAdvisor (TRIP) downgraded to Hold from Buy at Needham... Western Union (WU) downgraded to Neutral from Positive at Susquehanna... Zillow Group (Z) downgraded to Equal Weight from Overweight at Barclays.
09:29 EDTMHRMagnum Hunter downgraded to Underweight from Equalweight at Capital One
Capital One downgraded Magnum Hunter to Underweight following receiving a SEC Wells Notice related to the company's financial reporting and internal control issues.
09:22 EDTMHROn The Fly: Pre-market Movers
HIGHER: Uniqure (QURE), up 44.2% following strategic collaboration with Bristol-Myers (BMY)... Cytori Therapeutics (CYTX), up 22.4% after Lorem Vascular receives regulatory clearance in China... Curis (CRIS), up 8.5% after FDA grants orphan drug designation to CUDC-907 for the treatment of Diffuse Large B-Cell Lymphoma... Capnia (CAPN), up 5.9% after being awarded a $220,000 NIH grant... Tesla (TSLA), up 3.8% after reporting first quarter deliveries up 55% to 10,030 cars... Ariad (ARIA), up 3.4% following approval of Iclusig in Canada... Lumber Liquidators (LL), up 3.1% after being upgraded to Outperform from Market Perform at Raymond James. LOWER: Magnum Hunter (MHR), down 8.9% after being downgraded to Hold from Buy at Wunderlich... Herbalife (HLF), down following CNBC report that federal law enforcement agencies contacted the company regarding its business practices... Qualcomm (QCOM), down 2.2% following a Wall Street Journal report that the Samsung (SSNLF) Galaxy S6 did not have a Qualcomm LTE modem... Skyworks (SWKS), down 2.1% after being downgraded to Equal Weight from Overweight at Stephens.
07:17 EDTMHRMagnum Hunter downgraded to Hold from Buy at Wunderlich
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April 5, 2015
13:52 EDTMHRMagnum Hunter receives Wells Notice from SEC
Magnum Hunter disclosed in a regulatory filing on Friday that as previously disclosed, in April 2013, the company received a letter from the staff of the SEC’s Division of Enforcement stating that the Staff was conducting an inquiry regarding the company’s internal controls, change in outside auditors during 2012 and 2013 and public statements to investors and asking the company to preserve documents relating to these matters. In December 2013, the company received a document subpoena from the Staff relating to the issues identified in the April 2013 letter. During 2014, the Staff issued additional subpoenas for documents and testimony, and it has taken testimony from certain individuals. The company has fully complied and cooperated with the Staff’s requests and subpoenas. Magnum Hunter added that in connection with the Staff’s inquiry, on March 24, the company received a “Wells Notice” from the Staff, stating that the Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the company. On that date, the Staff issued similar Wells Notices to Gary C. Evans, the company’s Chairman and CEO, J. Raleigh Bailes, Sr., a director of the company and former Chairman of the Company’s Audit Committee, the former CFO of the company who was in office at the time of the company’s decision to dismiss its prior independent registered public accounting firm and the former chief accounting officer of the company who had resigned from that position with the company in October 2012.

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