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Stock Market & Financial Investment News

News Breaks
May 29, 2014
09:25 EDTMYL, MYL, ATI, ATI, IIVI, IIVI, KOP, KOP, ANSS, ANSS, FSTR, FSTR, BBOX, BBOX, KMT, KMT, STBA, STBA, CCC, CCC, EQT, EQT, WCC, WCCCFA Society of Pittsburgh to hold a conference
2014 INVESTPennsylvania Equity Conference to be held in Pittsburgh on May 29 with webcasted company presentations to begin at 9:25 am; not all company presentations may be webcasted. Webcast Link
News For MYL;EQT;CCC;STBA;KMT;BBOX;FSTR;ANSS;KOP;IIVI;ATI;WCC From The Last 14 Days
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February 4, 2016
08:22 EDTKMTKennametal upgraded to Neutral on valuation at Longbow
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06:50 EDTKMTKennametal appoints Ronald DeFea CEO effective immediately
The board of Kennametal announced the appointment of board member Ronald DeFeo as the company's President and CEO, effective immediately. DeFeo replaces Donald Nolan, who has left the company to pursue other interests. DeFeo served as the Chairman of the Board and Chief Executive Officer of Terex Corporation from March 1998 and March 1995, respectively, until his retirement from the company at the end of 2015.
06:40 EDTKMTKennametal upgraded to Neutral from Underperform at Longbow
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06:37 EDTEQTEQT Corporation reports 2015 proved reserves of 10.0 Tcfe
EQT Corporation reported year-end 2015 proved developed reserves of 6.3 Tcfe, which was 30% higher than 2014; and total proved reserves of 10.0 Tcfe, a 0.7 Tcfe decrease from the previous year. In 2015, the increase in proved developed reserves was related to the completion of 245 wells and the addition of 386 Bcfe of positive revisions, which was primarily due to improved performance from producing wells. The company's 2015 proved undeveloped reserves totaled 3.7 Tcfe, a 2.2 Tcfe decrease from the previous year. This decrease resulted from converting 1.5 Tcfe of PUD reserves to prove developed reserves during 2015, as well as the company's decision to slow the pace of its five-year development plan from 144 wells per year to 74 wells per year, in response to lower commodity prices. For 2015, drilling capital totaled $1.7 billion and reserve extensions, discoveries, and other additions totaled 2.1 Tcfe, which resulted in a drill bit finding cost of $0.81 per Mcfe. The expected ultimate recovery of proved Marcellus wells averaged 9.3 Bcfe, with an average lateral length of 5,130 feet; compared to the 2014 EUR of 7.9 Bcfe, with an average lateral length of 4,435 feet.
06:33 EDTEQTEQT Corporation backs FY16 CapEx $1B
EQT previously announced its 2016 capital expenditure budget of $1B, which includes $820M for well development; and excludes business development, land acquisitions, and EQT Midstream capital associated with planned asset dropdowns in the first half of 2016, as well as capital investment at EQT Midstream Partners, LP. The company plans to drill 72 Marcellus wells - all of which will be on multi-well pads to maximize operational efficiency and well economics. The Company also plans to drill five deep Utica wells and, based on results, may drill up to an additional five Utica wells.
06:32 EDTEQTEQT Corporation reports Q4 Midstream operating income $122.4M
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06:31 EDTEQTEQT Corporation backs FY16 production sales volume of 700-720 Bcfe
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06:31 EDTEQTEQT Corporation reports Q4 production sales volume totaled 154.5 Bcfe
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06:31 EDTEQTEQT Corporation reports production sales volume of 603.1 Bcfe for 2015
EQT Production achieved record production sales volume of 603.1 Bcfe for 2015, representing a 27% increase over 2014. Approximately 84% of total production sales volume was from horizontally drilled Marcellus wells. EQT Production's adjusted operating income, a non-GAAP financial measure, totaled $74.2 million in 2015, compared to $688.5 million in 2014.
06:30 EDTEQTEQT Corporation reports Q4 adjusted EPS (6c), consensus (15c)
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February 3, 2016
07:04 EDTATICowen to hold a forum
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06:37 EDTKMTKennametal lowers FY16 adjusted EPS view to 85c-$1.05 from $1.50-$1.70
Consensus 81c. The company now expects FY16 total sales to decline in the range of 20%-23% and organic sales to decline in the range of 10%-13%. Previously, our October guidance provided in Q1 earnings release, the decline in total sales was projected to be in the range of 10%-14%, with a decline in organic sales of 6%-10%. The current guidance reflects the impact of the sale of non-core businesses, whereas the previous guidance did not reflect this transaction.
06:34 EDTKMTKennametal reports Q2 adjusted EPS 14c, consensus 12c
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06:13 EDTMYLPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 2, 2016
09:12 EDTEQTEQT Corporation coverage assumed with a Buy at SunTrust
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February 1, 2016
10:00 EDTKMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
08:19 EDTKMTKennametal upgraded to Neutral on valuation at BofA/Merrill
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08:11 EDTWCCIdeal Power announces distribution with WESCO
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08:04 EDTMYLTeva Mylan not seeing same negative trends as Sandoz, says Bernstein
After Novartis (NVS) reported weak results for its generics unit, Sandoz, and blamed it on industry trends, Bernstein quotes Mylan (MYL) and Teva (TEVA) as saying that they are seeing only "slight adjustments back to normal levels" from "mildly favorable" results in 2014 and 2015. Bernstein says that Sandoz has lost a number of fairly profitable products and has had fewer approvals than its peers. Bernstein keeps Outperform ratings on Teva and Mylan.
06:28 EDTKMTKennametal upgraded to Neutral from Underperform at BofA/Merrill
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