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Stock Market & Financial Investment News

News Breaks
November 27, 2012
10:24 EDTPXP, MMR, EXXIPlains Exploration retreats after McMoRan reports well difficulties
Plains Exploration & Production (PXP) is falling after McMoRan Exploration (MMR) reported that it had encountered difficulties with its Davy Jones energy field. In an October SEC filing, Plains Exploration reported that it had owned 51M shares of McMoRan, representing a stake of about 31.5%. McMoRan Exploration shares are declining for a second consecutive day after the company reported yesterday afternoon that it will have to inject a solvent into a well at its Davy Jones field, located in the Gulf of Mexico, in order to clean out perforations and obtain a measurable flow test. In a note to investors earlier today, Capital One analyst Richard Tullis responded to the news by lowering his price target on McMoran to $9 from $12. Although McMoRan may eventually be able to conduct the flow test, the company faces greater risk in light of yesterday's news, wrote Tullis, who nevertheless maintained an Add rating on the stock. Conversely, RBC Capital earlier today downgraded McMoRan to Sector Perform from Outperform, and JPMorgan asserted that the company has zero equity value, given uncertainty about the commercial viability of the Davy Jones field. In mid-morning trading, Plains Exploration fell 2.76% to $33.09 and McMoRan plunged 22.38% to $7.49. Meanwhile, Energy XXI (EXXI), which has a 15.8% stake in the Davy Jones field, dropped 4.19% to $30.22.
News For PXP;MMR;EXXI From The Last 14 Days
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October 20, 2014
14:47 EDTEXXIEnergy XXI price target lowered to $13 from $26 at Raymond James
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07:03 EDTEXXIEnergy XXI CFO West Griffin steps down, Bruce Busmire to succeed
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October 16, 2014
07:23 EDTEXXIHart Energy to hold a conference
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October 15, 2014
11:46 EDTEXXIOptions with increasing implied volatility
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10:02 EDTEXXIOn The Fly: Analyst Upgrade Summary
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07:25 EDTEXXICanaccord to hold a conference
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07:18 EDTEXXIEnergy XXI upgraded to Buy from Neutral at Global Hunter
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05:49 EDTEXXIStocks with implied volatility movement; EXXI AFSI
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October 14, 2014
11:28 EDTEXXIOptions with increasing implied volatility
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October 13, 2014
12:33 EDTEXXIOptions with increasing implied volatility
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October 10, 2014
14:23 EDTEXXIEnergy XXI volatility increases as shares trend to five-year low
Energy XXI October call option implied volatility is at 101, November is at 85, December is at 98, January is at 86; compared to its 26-week average of 43 according to Track Data, suggesting large price movement.
12:11 EDTEXXIOptions with increasing implied volatility
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October 9, 2014
11:00 EDTEXXIOptions with increasing implied volatility
Options with increasing implied volatility: ARWR PBR EXXI PWE GST GLNG WTW AFSI ETE VALE

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