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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:55 EDTPXD, PXD, LINE, LINELINN Energy to hold a conference call
Conference Call to discuss definitive agreement to acquire assets in the Hugoton Basin from Pioneer Natural Resources for $340M, as well as discuss 2Q14 earnings, will be held on August 7 at 11 am. Webcast Link
News For PXD;LINE From The Last 14 Days
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October 7, 2015
05:25 EDTLINELINN Energy implied volatility of 146 at upper end of index mean range
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October 6, 2015
16:33 EDTLINELINN Energy announces suspension of LINN'S distribution and LinnCo's dividend
LINN Energy (LINE) and LinnCo (LNCO) announced that the Board of Directors has approved management's recommendation to suspend LINN's distribution and LinnCo's dividend effective September 30. LINN's Board of Directors will evaluate the company's ability to reinstate the distribution and dividend on an ongoing basis.
10:00 EDTLINEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cloud Peak (CLD) downgraded to Equal Weight from Overweight at Morgan Stanley... Comerica (CMA) downgraded to Neutral from Overweight at JPMorgan... Concho Resources (CXO) downgraded to Neutral from Buy at SunTrust... Cummins (CMI) downgraded to Market Perform from Outperform at BMO Capital... Exact Sciences (EXAS) downgraded to Hold from Buy at Benchmark... Heartland Payment (HPY) downgraded to Market Perform at Keefe Bruyette... Illumina (ILMN) downgraded to Neutral from Buy at BTIG... KT Corporation (KT) downgraded to Neutral from Buy at Goldman... LINN Energy (LINE) downgraded on elevated leverage, distribution cut worries at Stifel... LinnCo (LNCO) downgraded to Hold from Buy at Stifel... Peabody (BTU) downgraded to Equal Weight from Overweight at Morgan Stanley... Radware (RDWR) downgraded on preannouncement, execution challenges at Oppenheimer... Southern Copper (SCCO) downgraded to Underperform on relative valuation at BofA/Merrill... Telecom Italia (TI) downgraded to Underweight from Equal Weight at Barclays... Teledyne (TDY) downgraded to Hold from Buy at Needham... Vantiv (VNTV) downgraded to Market Perform from Outperform at Keefe Bruyette.
07:16 EDTLINELINN Energy downgraded on elevated leverage, distribution cut worries at Stifel
As noted earlier, Stifel downgraded LINN Energy to Hold from Buy. The firm thinks that LINN Energy's leverage is poised to reach "elevated" levels, and it downgraded the stock in conjunction with an industry note it issued today entitled, "Corporate Finance Discussions May Lead to Additional Distribution Cuts."
06:14 EDTLINELINN Energy downgraded to Hold from Buy at Stifel
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October 5, 2015
19:56 EDTPXDPioneer Natural management to meet with SunTrust
Group dinner to be held in Dallas on October 7 hosted by SunTrust.
September 28, 2015
13:01 EDTPXDAnalyst says Sanchez Energy's asset sale to strengthen liquidity position
Shares of Sanchez Energy (SN) surged after the company said it plans to sell certain Eagle Ford Shale midstream assets to Sanchez Production Partners (SPP) for $345M. WHAT'S NEW: Sanchez Energy said it reached an agreement with Sanchez Production Partners under which SPP will acquire and operate certain midstream assets located on the Western part of its Catarina asset in the Eagle Ford Shale in South Texas for cash consideration of roughly $345M. As part of the divestiture, Sanchez Energy said it will sell roughly 150 miles of midstream gathering lines and associated midstream infrastructure concentrated in four gathering and processing facilities. The deal is expected to close in October. In a statement, Sanchez Energy chief Executive Officer Tony Sanchez III said the midstream sale "highlights our ability to capture the full spectrum of value in our asset base, raise capital outside of traditional markets and improve our financial flexibility." Sanchez Energy also confirmed this morning that its third quarter 2015 average production will "likely meet or exceed" the high end of the previous guidance range of 46,000-50,000 barrels of oil equivalent per day. The company said it is still confident that it can build a 20-30 well bank toward its 50-well per year drilling commencement at Catarina at its current rig count. WHAT'S NOTABLE: Affiliates of Pioneer Natural Resources (PXD) and Reliance Holding USA sold off pipelines and other midstream assets in the Eagle Ford to Enterprise Product Partners (EPD) in July for $2.15B to be paid in two installments, and Matador Resources (MTDR) recently sold off similar assets to EnLink Midstream Partners (ENLK) for $143M. Meanwhile, Sanchez Production Partners said it will recommend that the board of directors of its general partner approve a plan to start distributions at an initial annualized rate of $1.60 per share. STREET RESEARCH: Northland Capital Markets analyst Jeff Grampp said that the proceeds from the announced asset sale will strengthen Sanchez Energy's "already meaningful" liquidity position and set up the company well for opportunistic acquisitions. The analyst said that even though the company previously discussed the possible sale of midstream assets, the move's value capture is "meaningfully positive" and underappreciated by the market. Grampp reiterated an Outperform rating and $12 price target on the stock. PRICE ACTION: In midday trading, Sanchez Energy is up 5.82% to $5.64 and Sanchez Production Partners is up 88.89% to $8.84.

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