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Stock Market & Financial Investment News

News Breaks
December 11, 2012
08:28 EDTMMR, FCX, CVXMcMoRan Exploration could go above $18 per shares, says Susquehanna
McMoRan Exploration (MMR) is being acauired by Freeport McMoRan (FCX) for $14.75 per share in cash plus royalty interest. Susquehanna believes the royalty interest stub could be worth $1.85-$3.70 per share and that near-term catalysts including onshore drilling success at its Lineham Creek well may support the value of the overriding interest portion of Freeport's (FCX) bid for the company. Susquehanna believes the success could push the price above its $18 price target. Shares are Positive rated.
News For MMR;FCX;CVX From The Last 14 Days
Check below for free stories on MMR;FCX;CVX the last two weeks.
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September 15, 2014
20:02 EDTCVXConocoPhillips auctioning 24% stake in the Clair oilfield, FT reports
ConocoPhillips (COP) has hired banks to sell its 24% stake in UK's largest oilfield, The Financial Times reports, citing people familiar with the matter. The 24% stake could be valued between $2B-$3B, the people added. The Clair oilfield sits in Scottish territorial waters, and Conoco's interest in exiting the project is a sign of the challenges facing the North Sea oil industry, The Financial Times added. BP (BP) operates the Clair oilfield and owns a 28.6% stake, Royal Dutch Shell (RDS.A) controls a 28.6% stake, and Chevron (CVX) controls a 19% stake. Reference Link
07:02 EDTCVXMcDermott completes contract scope for Jack, St. Malo project
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06:29 EDTCVXChevron pipeline shut down following accident that killed one, WSJ reports
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September 12, 2014
11:49 EDTCVXChevron CEO looks for partner before Kitimat project decision, Bloomberg says
Chevron CEO John Watson said that the firm needs to locate a partner, finalize natural gas contracts and examine engineering expenses prior to making a choice regarding its Canadian liquefied natural gas project in Kitimat, according to Bloomberg, citing comments from Watson. Reference Link
September 11, 2014
08:39 EDTFCXFreeport McMoRan to purchase non-core assets from Quaterra for $5M
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September 10, 2014
08:22 EDTCVXBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
10:10 EDTCVXOn the Fly: Analyst Downgrade Summary
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07:40 EDTCVXChevron downgraded to Underperform from Neutral at BofA/Merrill
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September 3, 2014
16:50 EDTCVXBoardwalk Pipeline to acquire Evangeline Ethylene Pipeline for $295M cash
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14:41 EDTFCXFreeport McMoRan sells Kinetics Climax division for $55M
Dynacast International announced that Dynacast, a wholly-owned subsidiary of the company, entered into a definitive agreement to acquire 100% of the outstanding equity of Kinetics Climax. Kinetics is a wholly-owned subsidiary of Climax Engineered Materials, a Freeport-McMoRan Inc. company. Pursuant to the Stock Purchase Agreement, or SPA, executed on August 27, the purchase price payable to Climax upon closing of the acquisition is $55M less debt and transaction expenses and will be subject to a post-closing working capital adjustment. The SPA also provides for a cash earn-out payment, not to exceed $15M, based on the financial performance of Kinetics through December 31, 2015. The transaction, which is subject to customary closing conditions, is expected to close on or about September 30.
September 2, 2014
11:58 EDTCVXChevron set to test support, levels to watch
Shares are down 1.1% today in a weak energy sector. At the current price of $127.99, next support is at the 10-day moving average which was last at $127.94. Resistance is at $128.96, which was the last value for the 30-day moving average. A breakdown below the 10-day would be bearish for price. Next support in that event would be at $126.42.
10:02 EDTFCXOn The Fly: Analyst Downgrade Summary
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07:47 EDTFCXFreeport McMoRan downgraded to Equal Weight from Overweight at Morgan Stanley
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