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Stock Market & Financial Investment News

News Breaks
April 10, 2013
08:33 EDTPBF, CLRContinental Resources to supply PBF Energy with Bakken crude oil
PBF Energy (PBF) signed an agreement with Continental Resources (CLR) to supply PBF with Bakken crude oil, which will be delivered by rail to PBF’s double-loop track at its refinery in Delaware City, DE.
News For PBF;CLR From The Last 14 Days
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September 19, 2014
10:06 EDTCLROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.
07:25 EDTCLRContinental Resources upgraded to Buy from Neutral at Global Hunter
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September 18, 2014
08:59 EDTCLROn The Fly: Pre-market Movers
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September 17, 2014
18:23 EDTCLRContinental Resources sees FY15 production growth of 26%-32%
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16:21 EDTCLRContinental Resources names Jack Stark as president, COO
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September 15, 2014
17:04 EDTPBFPBF Logistics announces first asset acquisition from PBF Energy
PBF Logistics LP (PBFX) and PBF Energy(PBF) announced that the Partnership has entered into an agreement to acquire the Delaware City Heavy Crude Unloading Rack from a subsidiary of PBF for total consideration of $150M. The purchase price payable to PBF will consist of cash of $135M and PBFX limited partner interests of $15M. The drop-down acquisition is expected to close on or about September 30. The asset to be acquired is the newly-commissioned West Rack collocated with PBF Energy’s Delaware City Refinery and will continue to support the refinery going forward. The West Rack is capable of unloading unit trains at a throughput rate of over 40,000 barrels per day. It is equipped with steam and nitrogen facilities to facilitate the unloading of heavy crude oil, primarily originating in Canada, delivered by rail. The West Rack is also capable of discharging light crude oil. Upon closing, the Partnership plans to enter into a seven-year term throughput agreement with subsidiaries of PBF Energy containing a minimum throughput volume commitment of 40,000 barrels per day. The West Rack is expected to contribute approximately $15M of EBITDA in its first full year of operation after the close. Annual maintenance capital expenditures are expected to be approximately $1.25M. The cash consideration for the transaction will be funded by the sale of $30M in U.S. Treasuries that were purchased with proceeds from the Partnership’s May 2014 initial public offering and $105M in borrowings under the Partnership’s revolving credit facility. The number of Partnership common units to be issued to PBF will be based on the volume-weighted average daily closing price for the Partnership’s common units for the preceding 20 trading days, ending two trading days prior to signing the definitive agreement for the acquisition. The terms of the transaction were approved by the Board of Directors of the general partner of the Partnership and its Conflicts Committee, which is composed of independent directors and was advised by Tudor, Pickering, Holt & Co., its financial advisor, and Vinson & Elkins LLP, its legal counsel.
10:33 EDTCLRContinental Resources to hold analyst and investor day
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09:59 EDTCLROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Realty (ARCP) initiated with an Overweight at JPMorgan... Athlon Energy (ATHL) initiated with a Buy at KLR Group... Capital Product (CPLP) initiated with a Buy at Jefferies... Continental Resources (CLR) initiated with a Buy at Canaccord... Costco (COST) initiated with a Buy at Citigroup... Infinera (INFN) initiated with an Outperform at Barrington... NRG Yield (NYLD) initiated with an Outperform at RBC Capital... PTC Therapeutics (PTCT) initiated with a Buy at Deutsche Bank... Power Solutions (PSIX) initiated with an Outperform at Northland... ServiceNow (NOW) initiated with an Outperform at William Blair... Target (TGT) initiated with a Neutral at Citigroup... Team (TISI) initiated with a Neutral at Sidoti... VeriFone (PAY) initiated with a Buy at Monness Crespi... Wal-Mart (WMT) initiated with a Neutral at Citigroup... Whiting Petroleum (WLL) initiated with a Buy at Canaccord... Winnebago (WGO) initiated with an Outperform at BMO Capital.
05:42 EDTCLRContinental Resources initiated with a Buy at Canaccord
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September 11, 2014
16:33 EDTCLRContinental says ahead of five-year plan to triple production, proved reserves
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16:32 EDTCLRContinental Resources COO Rick Bott resigns
Continental Resources announced that W.F. "Rick" Bott, president and COO, resigned to pursue other opportunities. His duties will be absorbed by senior management.
September 10, 2014
17:11 EDTPBFVenezuela's PDVSA seeks Citgo bids in potential $10B deal, Reuters says
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06:41 EDTPBFPDVSA aims for preliminary offers for Citgo by September-end, Reuters says
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September 9, 2014
07:18 EDTCLRStephens to hold an investor trip
Energy: Oilfield Services Investor Plane Trip travels throughout Texas and Oklahoma on September 9-10.

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