Stock Market & Financial Investment News

News Breaks May 4, 2009 05:55 EDT PXP, PXP Soros Fund Management bought 6.5M Plains Exploration shares, Barron's reports Plains Exploration & Production (PXP) has a new investor in billionaire George Soros. On May 4 Soros's fund, Soros Fund Management, disclosed it now owns 6,467,400 million shares, or a 5.4% stake in Plains Exploration. Soros' hedge fund did not show any stock holdings as of Dec. 31, 2008, meaning the shares were purchased at some point in the last four months. Soros Fund Management has registered as a passive investor in the company. Soros's investment comes as the shares hover not far above their March 6 five-year low of $15.25. Lon Juricic, president of StreetInsider.com, sees Soros' investment as a bet on an eventual recovery in the 2009-2010 winter heating season, given the stock's current doldrums. Analysts seem to agree with Soros' decision. Those surveyed by Thomson Reuters rated Plains Exploration at Buy or the equivalent, with a 12-month target of $36.20. Reference Link News For PXP From The Last 14 Days Check below for free stories on PXP the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 24, 2013 11:28 EDT PXP Options with decreasing implied volatility: WCRX P CBST NTI BBY PXP May 23, 2013 11:55 EDT PXP Options with decreasing implied volatility: AEGR PXP AMRN DSX ACT Subscribe for More Information May 22, 2013 17:21 EDT PXP Domino's Pizza to replace Plains Exploration in S&P MidCap 400 as of May 30 Subscribe for More Information 11:56 EDT PXP Options with decreasing implied volatility: WCRX NTI PXP AMRN BBY 05:59 EDT PXP Stocks with implied volatility below IV index mean; PXP MBI Subscribe for More Information May 21, 2013 12:32 EDT PXP Options with decreasing implied volatility: PXP ARNA BBY OPK CSC 08:28 EDT PXP Plains Exploration announces special $3.00 dividend The dividend is payable to stockholders as of May 30. The dividend is conditioned upon and will be paid immediately prior to or upon the competition of PXP's merger with Freeport-McMoRan (FCX). The merger is expected to close on May 31, subject to the satisfaction of all conditions to closing. 07:55 EDT PXP Freeport McMoRan revised offer should secure merger vote, says Cowen Subscribe for More Information 06:16 EDT PXP Stocks with implied volatility below IV index mean; PXP MBI Subscribe for More Information May 20, 2013 14:15 EDT PXP Plains shareholders approve Freeport-McMoRan acquisition Subscribe for More Information 09:42 EDT PXP Paulson & Co. issues statement regarding Freeport-Plains merger Subscribe for More Information 07:41 EDT PXP Freeport says to declare $1.00/share supplemental dividend after Plains deal Subscribe for More Information 07:41 EDT PXP Freeport says plans $1.5B in assets sales after Plains, McMoRan transactions 07:40 EDT PXP Freeport says to declare $1.00/share supplemental dividend after Plains deal 07:35 EDT PXP Plains Exploration declares special $3.00 per share dividend Plains Exploration (PXP) announced that it has received the approval of Freeport-McMoRan Copper & Gold (FCX) under the merger agreement between the companies for PXP's Board of Directors to declare a special one-time cash dividend of $3.00 per share. Upon receipt of bank waivers under a credit facility that will terminate in connection with the merger, PXP's Board of Directors intends to declare the dividend to PXP stockholders as of May 30, the expected dividend record date. The dividend will be conditioned upon and paid immediately prior to the completion of PXP's merger with Freeport-McMoRan Copper & Gold. May 16, 2013 08:12 EDT PXP Freeport, Plains Exploration announce preliminary results of merger election Subscribe for More Information May 13, 2013 07:36 EDT PXP Plains Exploration CEO urges holders to support Freeport McMoRan merger Plains Exploration (PXP) CEO and Chairman James C. Flores urged shareholders to support the merger with Freeport McMoRan (FCX) in a letter. The letter explained that "The strategic nature of the transaction, including the fact that the combination of the PXP, FCX and McMoRan Exploration businesses is expected to create the largest diversified U.S.-based natural resource company with an enterprise value in the top five among global mining peers, increase geographic diversification of the combined company within the U.S. and increase commodity diversification for the combined company. The scale of the combined company, which will enable it to compete more effectively than either PXP, FCX or MMR on a standalone basis, through increased cash flow and lower cost of capital investment in future development projects, exploration and acquisitions." Sign up for a free trial to see the rest of the stories you've been missing.