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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:37 EDTEGY, MPO, SFY, EPMMidstates Petroleum rises after earnings delayed for 'positive' developments
Shares of Midstates Petroleum (MPO) are increasing after the company rescheduled its fourth quarter earnings release, citing positive developments in its discussions with its banks. WHAT'S NEW: Midstates Petroleum announced last night that the company has rescheduled its fourth quarter earnings release to Tuesday, March 11 after the close of trading from Tuesday, March 4. Midstates noted that, as previously disclosed, the company is pursuing "a number of different options to streamline its portfolio," including sales of assets, joint ventures, and other possible farm-out arrangements. The company said it is in discussions with its commercial banking group to modify its debt structure to facilitate implementing such actions and Midstates added that it will discuss these "positive developments" during its rescheduled conference call. The actions currently in progress do not include additional equity or long-term debt issuance, Midstates noted. PRICE ACTION: During mid-morning trading, shares of Midstates Petroleum rose 49c, or 10.77%, to $5.04. OTHERS TO WATCH: Oil and gas exploration and production companies with market capitalization similar to Midstates Petroleum include Evolution Petroleum (EPM), Swift Energy (SFY), and VAALCO Energy (EGY).
News For MPO;EPM;SFY;EGY From The Last 14 Days
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January 21, 2015
11:14 EDTSFYFirst Trust Portfolios reports 6.96% passive stake in Swift Energy
January 20, 2015
08:48 EDTSFYSwift Energy downgraded to Reduce from Neutral at SunTrust
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08:41 EDTMPOMidstates Petroleum downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Midstates Petroleum to Neutral to reflect a lower commodity price deck forecast, lack of hedges, and impact from lower spending. Price target lowered to $1.50 from $9.

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