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Stock Market & Financial Investment News

News Breaks
October 16, 2012
06:55 EDTUNT, UNT, UNT, GDP, GDP, GDP, MHR, MHR, MHR, IAG, IAG, IAG, AZC, AZC, AZC, PPP, PPP, PPP, HL, HL, HL, GTE, GTE, GTE, XRA, XRA, XRA, PAAS, PAAS, PAASCanaccord to host a conference
Resource Conference is being held in Miami Beach, Florida on October 16-18.
News For PAAS;XRA;GTE;HL;PPP;AZC;IAG;MHR;GDP;UNT From The Last 14 Days
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December 18, 2014
08:01 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at Wells Fargo
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December 17, 2014
07:15 EDTMHRInvestors underestimating Magnum Hunter, says SunTrust
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December 16, 2014
09:59 EDTGDPOn The Fly: Analyst Downgrade Summary
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09:21 EDTUNTUnit Corp. downgraded to Sector Perform from Outperform at Howard Weil
09:20 EDTGDPGoodrich Petroleum downgraded to Sector Perform from Outperform at Howard Weil
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December 12, 2014
10:01 EDTGDPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
09:13 EDTGDPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Adobe (ADBE), up 5.5% after reporting first quarter results and that it will acquire Fotolia for approximately $800 in cash. ALSO HIGHER: ChemoCentryx (CCXI), up 107.1% after Phase II clinical trial in diabetic nephropathy with CCX140 met its primary endpoint... Oncothyreon (ONTY), up 15.8% after announcing exclusive agreement with Array BioPharma (ARRY)... Talisman Energy (TLM), up 24.4% after a report that Repsol (REPYY) is preparing to make a C$6.00 per share bid... GoPro (GPRO), up 4.4% after being upgraded to Overweight from Neutral at JPMorgan. LOWER: Emerald Oil (EOX), down 18% after cutting fiscal 2015 guidance, naming new COO, and providing an updated fiscal 2015 development plan... Goodrich Petroleum (GDP), down 8.2% after being downgraded to Underweight from Overweight at JPMorgan... MEI Pharma (MEIP), down 3.9% after 10M share Secondary priced at $4.00... Heritage-Crystal Clean (HCCI), down 6.6% after 3.1M share Secondary priced at $10.00.
06:56 EDTGDPGoodrich Petroleum cut to Underweight on lower oil at JPMorgan
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06:22 EDTGDPGoodrich Petroleum downgraded to Underweight from Overweight at JPMorgan
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December 11, 2014
06:05 EDTGTEGran Tierra sees 2015 production 26K BOE/D-27K BOE/D gross working interest
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06:05 EDTGTEGran Tierra announces $310M capital spending program for 2015
Gran Tierra announced its 2015 Budget with a capital spending program of $310M for its exploration and production development operations in Colombia, Peru and Brazil. The capital spending program allocates $183M for drilling, $69M for facilities, equipment and pipelines, $56M for geological and geophysical activities and $2M associated with corporate activities. The capital spending program currently contemplates the drilling of 11 gross wells in Colombia and two gross wells in Peru. Approximately 70% of the drilling program is for development and appraisal drilling and approximately 30% is for exploration drilling. Gran Tierra Energy is expecting 2015 production to average 26K BOE/D-27KBOEP/D gross working interest or 21KBOE/D-22KBOE/D net after royalty assuming an average Brent oil price of $60 per barrel. Country Drilling Facilities & Pipelines Geological & Geophysical Total Colombia $94 $36 $26 $156 Peru $77 $24 $17 $118 Brazil $12 $9 $13 $34 Total $183 $69 $56 $310* *Total includes $2MM associated with corporate work (US$ MM Net) Gran Tierra Energy is expecting 2015 production to average between 26,000 and 27,000 barrels of oil equivalent per day ("BOEPD") gross working interest ("WI") or between 21,000 and 22,000 BOEPD net after royalty ("NAR") assuming an average Brent oil price of $60 per barrel used for 2015 Budget purposes. After royalty production numbers will increase with falling oil prices and conversely decrease with rising oil prices as a result of the royalty formula calculations related to our license contracts in Colombia. Production from Colombia is expected to deliver approximately 19,000 BOEPD NAR, with Costayaco contributing approximately 10,400 BOEPD NAR and Moqueta contributing approximately 6,100 BOEPD NAR assuming a 2% contingency for potential delivery disruptions. The 2015 Budget also includes first production from Peru of approximately 1,600 BOEPD NAR, and approximately 900 BOEPD NAR from Brazil. Production expectations do not include potential production from successful exploration wells. Approximately 99% of this expected production consists of oil, with the balance consisting of natural gas. Gran Tierra Energy had $360 million in cash and cash equivalents and no debt at the end of the third quarter 2014. Based on current oil prices, Gran Tierra Energy expects the 2015 work program and budget to be funded from cash flows from operations, cash on hand and periodic draws on our credit facility if needed.
December 10, 2014
12:31 EDTMHRMagnum Hunter management to meet with SunTrust
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09:23 EDTGDPOn The Fly: Pre-market Movers
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08:01 EDTMHR, GDPCapital One to hold a conference
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06:09 EDTGDPGoodrich Petroleum provides operational update
Goodrich Petroleum reports in the Tuscaloosa Marine Shale, or TMS, the company announced the completion of two additional wells in its Blades area of Tangipahoa Parish, Louisiana. The Verberne 5H-1 well, which was drilled and completed with an approximate lateral length of 6,600 feet and was fracked with 21 stages, has been producing on a restricted choke program and has achieved a peak 24-hour rate to date of 1,375 Boe per day, comprised of 1,335 barrels of oil and 250 Mcf of natural gas per day on a 14/64 inch choke. The Williams 46H-1 well, which was drilled with an approximate lateral length of 6,400 feet and was fracked with 20 stages, is in early flowback and is currently producing approximately 1,000 Boe per day, but has not achieved peak rate. An update on this well will be provided at a later date. The company is in completion phase on its Kent 41H-1 well, which was drilled with an approximate 6,000 foot lateral in 27 days at one of the lowest drilling cost to date. On the company's initial two-well pad, the CMR/Foster Creek 8H-1 has been drilled and the CMR/Foster Creek 8H-2 well is drilling in the lateral. By achieving drill times of 25 30 days, as achieved by several industry-wide wells including our most recent Kent 41H-1 well, coupled with the recently modified frac design as utilized on the Verberne 5H-1 and Williams 46H-1 wells, the company believes it can achieve cost savings in excess of $1.5 million for a single well pad prior to any reduction in service costs or savings associated with drilling off of multi-well pads. Substantial cost savings combined with the company's strong 2015 hedge position, and the inherent advantages of the TMS, which include premium LLS pricing, lower average royalty burden and severance tax relief, allow for the continued economic development of the play in 2015.
06:06 EDTGDPGoodrich Petroleum to explore strategic alternatives for Eagle Ford Shale asset
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December 9, 2014
07:41 EDTGDPGoodrich Petroleum liquidity concerns overblown, says SunTrust
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06:10 EDTGDPGoodrich Petroleum implied volatility of 205 at upper end of index mean range
December 8, 2014
09:34 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at BMO Capital
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