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Stock Market & Financial Investment News

News Breaks
January 14, 2013
05:55 EDTPWE, PWE, PWE, TGA, TGA, TGA, IVAN, IVAN, IVAN, IMO, IMO, IMO, ERF, ERF, ERF, ENB, ENB, ENB, CVE, CVE, CVE, CNQ, CNQ, CNQ, BTE, BTE, BTE, PBA, PBA, PBA, TRP, TRP, TRPTD Securities to host a conference
London Energy Conference is being held in London on January 14-16.
News For PWE;PBA;BTE;CNQ;CVE;ENB;ERF;IMO;IVAN;TGA;TRP From The Last 14 Days
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November 17, 2014
17:03 EDTTRPTransCanada Tamazunchale Pipeline Extension now operational
TransCanada Corporation announced that it has placed into service the Tamazunchale Pipeline Extension, the most recent natural gas infrastructure project to be completed by TransCanada in Mexico. The new $600M pipeline is an extension of the existing Tamazunchale Pipeline that links an LNG terminal and natural gas supplies from the east coast of Mexico and U.S. to key power facilities in Tamazunchale. TransCanada has a 25-year natural gas transportation service contract with the Comision Federal de Electricidad, Mexico's state-owned power company. The pipeline extension is approximately 144 miles long and has a contracted capacity of 630M cubic feet a day.
14:26 EDTTRPTransCanada says Sandell analysis continues to be 'flawed'
TransCanada commented on materials made public by Sandell Asset Management: "TransCanada appreciates constructive input from shareholders and we actively engage in open dialogue with them to discuss all aspects of our operations and corporate strategy. We received materials from Sandell a few months ago containing a very similar and flawed analysis to the one that was published today. After careful review, and ongoing discussions with our other shareholders, TransCanada firmly believes that our current strategy best positions us to deliver long-term value to investors. TransCanada has established itself as a leading energy infrastructure company in North America with a blue-chip portfolio of assets that has consistently delivered attractive and sustainable growth in earnings, cash flow and dividends. Importantly, the Company has delivered a 15% annualized total shareholder return since 2000. We have a well-defined strategic plan to increase long-term shareholder value, including our strong focus on pipelines and power generation opportunities, and we remain focused on continuing to deliver on this plan successfully."
09:05 EDTPWEPenn West board approves $840M capital budget for 2015
Penn West reports its board has approved a 2015 capital budget of approximately $840M. The company expects to spud approximately 225, or 212 net, wells in 2015, over 90% of which will be drilled in the three core light oil areas. 2015 forecast average production is expected to be between 95,000 and 105,000 boe per day, weighted approximately 69% toward oil and liquids. The company's updated Long-Term Plan targets compound annual growth rates between 2015 and 2019 of approximately 13% for oil in terms of average daily production volumes, and over eight percent in terms of our total boe average daily production volumes, which is expected to drive a funds flow CAGR between 2015 and 2019 of over 20%. These targets are based on what the company believes to be conservative commodity pricing assumptions.
09:01 EDTPWEPenn West to host conference call
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08:14 EDTTRPSandell Asset Management sends letter to TransCanada board
Sandell Asset Management, a significant shareholder of TransCanada, has publicly released a letter and White Paper to the Board of Directors of the Company in anticipation of its upcoming Investor Day to stimulate further discussions among all stakeholders as to the best long term corporate structure for TRP. Tom Sandell, CEO of Sandell, stated: “Although we are excited about the recent positive developments at TransCanada, we are disappointed that the Company has neither fully embraced the Master Limited Partnership structure nor emphasized cash flow metrics such as Adjusted Funds From Operations to highlight the Company’s ample tax assets, low maintenance capital requirements and capacity for dividend payment. Furthermore, we believe a spinoff of the Energy segment is the best long term course for this asset to attract a world-class, dedicated management team to deal with upcoming opportunities and challenges within the sector and to highlight the premium value of the Pipeline business.” In Sandell’s analysis, fully utilizing the Company’s existing MLP, TC PipeLines LP and highlighting AFFO metrics would serve to enhance the Company’s ability to finance its significant Capital Program by increasing dividend growth expectations and lowering cost of capital for both TRP and TCP. Additionally, by engaging in an ‘all-in’ dropdown to TCP and by restructuring its incentive distribution rights, TCP would be transformed into a powerful player in the US MLP industry, increasing organic growth prospects and allowing it to participate in the current wave of M&A to bolster its strategic positioning and distribution growth profile. Sandell believes that, through the implementation of these steps, TRP’s share price would immediately trade at its intrinsic value of $75 per share reflecting a corporate structure that maximizes the future value of TRP, TCP and the separated Energy business.
November 14, 2014
17:48 EDTTRPTransCanada to host investor day
Investor Day to be held in Toronto on November 19 at 8 am. Webcast Link
17:44 EDTCVECenovus Energy gains approval for Telephone Lake oil sands project
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14:24 EDTTRPTransCanada one vote short in Senate, The Hill says
TransCanada's Keystone Pipeline is one vote short of the 60 it will need to be approved by the Senate, according to The Hill. The House already approved the pipeline, but the White House indicated this week that President Obama is still opposed to it. Reference Link
12:56 EDTTRPHouses passes Keystone approval bill, Senate to vote next week
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09:33 EDTTRPTransCanada volatility elevated into Congress likely vote on Keystone Pipeline
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November 13, 2014
10:01 EDTTGAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Hold from Buy at Argus... Adeptus Health (ADPT) downgraded to Hold from Buy at Deutsche Bank... American Woodmark (AMWD) downgraded to Neutral from Buy at Longbow... Avnet (AVT) downgraded to Sell from Neutral at Goldman... Baxano Surgical (BAXS) downgraded to Sell from Buy at Summer Street... Beazer Homes (BZH) downgraded to Neutral from Overweight at JPMorgan... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley... Centene (CNC) downgraded to Market Perform from Outperform at FBR Capital... Cherry Hill Mortgage (CHMI) downgraded to Equal Weight from Overweight at Barclays... Discover (DFS) downgraded to Hold from Buy at Deutsche Bank... Fleetmatics (FLTX) downgraded to Neutral from Buy at BofA/Merrill... Gazprom (OGZPY) downgraded to Neutral from Overweight at JPMorgan... Jabil Circuit (JBL) downgraded to Neutral from Buy at Goldman... LabCorp (LH) downgraded to Hold from Buy at Deutsche Bank... Laredo Petroleum (LPI) downgraded at BMO Capital... Macy's (M) downgraded to Market Perform from Outperform at Wells Fargo... Madison Square Garden (MSG) downgraded to Equal Weight from Overweight at Morgan Stanley... Marvell (MRVL) downgraded to Sell from Neutral at Goldman... Meritor (MTOR) downgraded to Neutral from Overweight at Piper Jaffray... Swedbank (SWDBY) downgraded to Underperform from Sector Perform at RBC Capital... TransGlobe (TGA) downgraded to Sector Perform from Outperform at Scotia Capital... UIL Holdings (UIL) downgraded to Hold from Buy at Argus... Verint Systems (VRNT) downgraded to Fair Value from Buy at CRT Capital... ZAIS Financial (ZFC) downgraded to Equal Weight from Overweight at Barclays.
09:29 EDTTGATransGlobe downgraded to Sector Perform from Outperform at Scotia Capital
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06:39 EDTTRPCongress likely to vote on Keystone Pipeline soon, Politico says
Congress is expected to vote on legislation authorizing TransCanada's Keystone Pipeline in coming days, but supporters look to be a few votes short in the Senate, according to Politico. Additionally, the White House indicated that President Obama still opposes the measure, the website stated., citing a Reuters report. Reference Link
November 12, 2014
08:51 EDTTRPTransCanada to sell remaining interest in GTN to TC PipeLines
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07:31 EDTERFBofA/Merrill to hold a conference
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06:17 EDTTGATransGlobe Energy reports Q3 EPS 18c, one estimate 16c
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November 11, 2014
13:11 EDTPBAPembina Pipeline announces pipeline expansion in Northeast British Columbia
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06:24 EDTIMOImperial Oil suspends production at Kearl operations
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November 10, 2014
15:43 EDTENBAmerican Petroleum Institute to hold a conference
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11:06 EDTTRPSenator-elect says 65 senators to back Keystone Pipeline, The Hill says
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