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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:06 EDTNGL, MS, TLPMorgan Stanley to sell TransMontaigne stake to NGL Energy Partners for $200M
NGL Energy Partners LP (NGL) has entered into a definitive purchase agreement with affiliates of Morgan Stanley (MS) to acquire (i) TransMontaigne Inc (TLP), the owner of TransMontaigne GP L.L.C., the general partner of TransMontaigne Partners L.P., a master limited partnership that trades on the New York Stock Exchange, (ii) the limited partnership units of TransMontaigne Partners L.P. held by Morgan Stanley, amounting to approximately 19.7% of the outstanding units, and (iii) certain entities associated with the TransMontaigne business as well as the related inventory and pipeline and other contract rights. The definitive agreementcontemplates the purchase of Morgan Stanley's energy business related to TransMontaigne on a debt-free basis for a cash purchase price of $200M, including working capital, plus an additional amount for inventory transferred at the closing. The consummation of the transaction is subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Act. The acquisition is anticipated to close in the third quarter of 2014. The transaction does not involve the sale or purchase of any of the LP units owned by the public.
News For NGL;MS;TLP From The Last 14 Days
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July 21, 2014
07:29 EDTMSAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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July 18, 2014
10:42 EDTMSMorgan Stanley expands commodities trading, financing units, Reuters says
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08:18 EDTMSMorgan Stanley results encouraging, says JMP Securities
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July 17, 2014
11:00 EDTMSMorgan Stanley says financial advisors growing mortgages despite weak demand
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10:48 EDTMSMorgan Stanley says not likely industry ROE stays below 10%
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10:27 EDTMSMorgan Stanley sees M&A remaining "vibrant"
Says that although June was stronger than first two months of quarter, too early to determine conditions for balance of year. Says M&A volumes remain strong, financing markets remain "receptive," seeing an increase in activity in Europe.
10:20 EDTMSMorgan Stanley says continuing to work toward close fo Rosneft deal
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10:06 EDTMSMorgan Stanley rises after earnings, heading for resistance
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09:15 EDTMSOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
09:06 EDTNGLNGL Energy Partners 3.47M share Block Trade priced at $42.37
The deal range was $41.71-$42.37. UBS acted as sole book running manager for the offering.
07:21 EDTMSMorgan Stanley says #2 in announced M&A, #3 in IPOs
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07:19 EDTMSMorgan Stanley says results included net discrete tax benefit of 31c per share
07:19 EDTMSMorgan Stanley reports Q2 EPS 60c ex-DVA, tax benefit, consensus 55c
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07:18 EDTMSMorgan Stanley reports Q2 Institutional Securities revenue $4.2B
Institutional Securities net revenues for the current quarter were $4.2B compared with $4.4B a year ago. DVA resulted in positive revenue of $87M in the current quarter compared with $175M a year ago. Excluding DVA, net revenues for the current quarter of $4.2B were relatively unchanged from a year ago. Wealth Management net revenues for the current quarter were $3.7B compared with $3.5B a year ago. Investment Management net revenues of $692M increased from $673M in the prior year. Results reflect higher gains on investments in Merchant Banking and higher results in Traditional Asset Management, partly offset by lower revenues in the Real Estate Investing business driven by the deconsolidation of certain legal entities associated with a real estate fund sponsored by the Firm.
07:18 EDTMSMorgan Stanley reports Tier 1 risk-based capital ratio approx. 15.2% at June 30
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07:17 EDTMSMorgan Stanley reports Q2 EPS 94c, consensus 55c
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06:38 EDTMSStudy says UBS largest private bank with assets near $2T, Reuters says
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July 16, 2014
15:02 EDTMSMorgan Stanley July 32.5 straddle priced for 3.3% move into Q2
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14:57 EDTMSEarnings Preview: Morgan Stanley to report amid optimism on Wealth Management
Morgan Stanley (MS) is scheduled to report second quarter earnings before the open on Thursday, July 17 with a conference call scheduled for 10:00 am ET. Morgan Stanley is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of 55c on revenue of $8.2B, according to First Call. The consensus range for EPS is 52c-64c on revenue of $7.58B-$8.65B. Morgan Stanley (MS) reported stronger than expected first quarter results, as the company's revenue rose to $8.9B from $8.2B. The company's wealth management unit generated pre-tax income of $691M, versus $597M in the same period a year earlier. Morgan Stanley's investment management unit saw its pre-tax income from continuing operations rise to $263M from $187M, while the pre-tax income of its institutional Securities division rose $1.4B, up from $799M. Morgan Stanley's wealth management business will continue growing and the business' return on equity will eventually be well over 10%, said the company's CEO, Tom Gorman last month, according to The New York Times. But declines in the bank's fixed income revenues may make it harder for its securities businesses to exceed a 10% return on equity, and the firm has significantly reduced its trading operations, the newspaper quoted the CEO as saying. PEERS: On July 15, Goldman Sachs reported stronger than expected results, as the bank's investment banking unit saw its net revenue rise 15% year-over-year, while the net revenues generated by its Institutional Client Services unit dropped 11%. But Goldman's investing and lending unit saw its net revenues surge 46% year-over-year. Citigroup (C), on July 14, reported higher than expected Q2 EPS excluding certain items but lower than expected revenue. Revenue from Citi's Institutional Client Group dropped 11%, as revenue from fixed income and equity markets fell. STREET RESEARCH: On July 10, research firm Bernstein recommended Morgan Stanley's stock due to its exposure to high margin investment banking. Bernstein also liked Morgan Stanley because of its exposure to wealth management. PRICE ACTION: Morgan Stanley is up almost 9% over the last three months and it has surged over 23% in the last twelve months.
08:25 EDTTLPTransmontaigne Partners increases quarterly dividend to 66.5c per share
TransMontaigne Partners declared a distribution of 66.5c per unit for the period from April 1 through June 30, representing a 0.5c increase over the previous quarter. This distribution is payable on August 7 to unitholders of record on July 31.
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