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Stock Market & Financial Investment News

News Breaks
December 13, 2012
08:13 EDTMWE, MHR, EQTMarkWest Energy begins operations of Mobley facility in West Virginia
MarkWest Energy (MWE) commenced operations of the first Mobley processing facility located in Wetzel County, West Virginia. The 200 MMcf/d plant supports the development of rich-gas from the Marcellus Shale by EQT (EQT), Magnum Hunter (MHR) and other producers. The Mobley facility is currently operating at approximately 60% utilization and will continue to experience accelerated volume growth. MarkWest expects to complete construction of its second Mobley facility, a 120 MMcf/d plant, during Q1 2013, and by Q4 2013 bring online a third facility with 200 MMcf/d of processing capacity, bringing the Mobley complex's processing capacity to 520 MMcf/d.
News For MWE;EQT;MHR From The Last 14 Days
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July 24, 2015
08:19 EDTMHRMagnum Hunter announces dismissal of last remaining stockholder lawsuit
Magnum Hunter announced that the 125th District Court of Harris County, Texas dismissed the last remaining stockholder derivative case against certain of the company's officers and directors filed alleging certain breaches of fiduciary duties and other matters in connection with the dismissal by the company of its independent registered public accounting firm in spring 2013. All of the shareholder lawsuits relating to these allegations have now been dismissed, and no cash settlements of any form have been paid by the company or any of the company's insurance carriers in connection with these lawsuits.
July 23, 2015
07:12 EDTEQTEQT reports Q2 adjusted EPS 1c, consensus 5c
Reports Q2 revenue $433.17M, consensus $490.71M. EQT Production achieved sales volume of 147.1 Bcfe in the second quarter 2015, 33.5% higher than the second quarter 2014; however, the increase in revenue from the higher volume was more than offset by a 53% lower average realized sales price compared to the same quarter last year, at $1.41 per Mcfe for the quarter.
July 22, 2015
15:26 EDTEQTNotable companies reporting before tomorrow's open
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July 21, 2015
10:01 EDTEQTOn The Fly: Analyst Initiation Summary
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09:21 EDTEQTOn The Fly: Pre-market Movers
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06:07 EDTEQTEQT Corporation initiated with an Outperform at Cowen
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05:10 EDTMWEMarkWest Energy raises quarterly dividend by 1c to 92c per unit
MarkWest Energy announced that the board of the General Partner of MarkWest Energy Partners, declared a cash distribution of 92c per common unit for Q2, for an implied annual rate of $3.68 per common unit. The Q2 distribution represents an increase of 1c per common unit, or 1.1%, compared to the Q1 distribution. The Q2 distribution is payable August 14, to unitholders of record on August 6. The ex-dividend date is August 4.
July 20, 2015
10:13 EDTMWEOptions with decreasing implied volatility
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07:11 EDTMWEMPLX, MarkWest Energy provide supplimental information about merger
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July 17, 2015
17:29 EDTMHRRelational Investors cuts stake in Magnum Hunter to 6.26% from 8.5%
16:41 EDTMWEStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
July 14, 2015
10:01 EDTMWEOn The Fly: Analyst Downgrade Summary
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09:22 EDTMWEMarkWest Energy downgraded to Neutral from Accumulate at Global Hunter
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08:46 EDTMWEMarathon Petroleum price target raised to $70 from $60 at Cowen
Cowen raised its price target on Marathon Petroleum (MPC) to $70 from $60 following the proposed acquisition by MPLX (MPLX) of MarkWest Energy (MWE), citing the expected deal accretion, potential synergies and "justified" multiple. Cowen reiterated its Outperform rating on Marathon Petroleum.

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