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June 26, 2014
07:48 EDTLNG, RRC, SSL, ETPRange Resources announces marketing, transportation agreements
Range (RRC) has signed an agreement to act as a foundation shipper on the ET Rover pipeline, a natural gas pipeline project of ET Rover Pipeline, a subsidiary of Energy Transfer Partners (ETP). The project will provide Range the flexibility to move Pennsylvania natural gas to Dawn, Ontario and south to the Gulf Coast. Range has agreed to transport up to 400K Mmbtu per day for 20 years starting in October 2017. The natural gas will be supplied directly from a regional processing plant so there will be no additional transportation charge to move this gas to these potentially premium markets. Range has also signed its first two LNG supply agreements subject to commencement of the projects. The company entered into an agreement with an affiliate of Cheniere Energy (LNG) to supply gas to the Sabine Pass LNG terminal on the Gulf Coast. The Sabine Pass facility is expected to commence service in late 2015. Range is expected to supply gas to the facility for five years starting in 2017. Range also signed an agreement with another company to supply natural gas to another LNG terminal for a term of ten years. Further, Range is in active discussions with several major international companies to supply natural gas to other LNG facilities. Range has also executed two additional fixed term ethane sales agreements that are subject to successful project completion. The first contract will potentially supply an affiliate of Sasol (SSL) with 10K barrels of ethane per day for a multi-year term. Range expects to utilize its ATEX transportation capacity to supply the contract. Sasol anticipates reaching final investment decision later this year on its proposed 1.5M ton per annum ethane cracker and derivatives complex near Lake Charles, Louisiana. The second ethane agreement would supply ASCENT, the petrochemical complex planned by the Odebrecht Organization in Parkersburg, West Virginia. The ethane agreement commits Range to 5K barrels per day for a term of 15 years. The ASCENT ethane will be supplied directly from a regional processing plant, thus resulting in no additional transportation fee to Range.
News For RRC;ETP;SSL;LNG From The Last 14 Days
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February 24, 2015
16:31 EDTRRCRange Resources targets FY15 production growth 20% y/y
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16:30 EDTRRCRange Resources sees FY15 CapEx $870M, down 46% vs. FY14
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16:29 EDTRRCRange Resources reports Q4 adjusted EPS 39c, consensus 28c
Reports Q4 adjusted revenue $519M, consensus $480.73M.
15:21 EDTRRCNotable companies reporting after market close
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February 23, 2015
08:40 EDTRRCRange Resources March volatility elevated into Q4 and outlook
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February 20, 2015
08:05 EDTLNGCheniere Energy reports Q4 EPS (60c), consensus (26c)
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February 19, 2015
09:59 EDTSSLOn The Fly: Analyst Downgrade Summary
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09:59 EDTSSLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Altisource Residential (RESI) upgraded to Neutral from Sell at Compass Point... Angie's List (ANGI) upgraded to Overweight from Equal-Weight at First Analysis... Barrick Gold (ABX) upgraded to Buy from Hold at TD Securities... British Land (BTLCY) upgraded to Buy from Hold at Societe Generale... Coach (COH) upgraded to Buy from Hold at Topeka... Fiat Chrysler (FCAU) upgraded to Outperform from Neutral at Exane BNP Paribas... Garmin (GRMN) upgraded at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Canaccord... Iberdrola (IBDRY) upgraded to Neutral from Underweight at HSBC... KPN (KKPNY) upgraded to Neutral from Underperform at Exane BNP Paribas... Monster Worldwide (MWW) upgraded at Evercore ISI... Pharmacyclics (PCYC) upgraded to Buy from Neutral at Nomura... RPC, Inc. (RES) upgraded to Equal Weight from Underweight at Morgan Stanley... Sanofi (SNY) upgraded to Buy from Neutral at BofA/Merrill... Sasol (SSL) upgraded to Neutral from Underweight at HSBC... Tractor Supply (TSCO) upgraded at Oppenheimer... Valero (VLO) upgraded to Buy from Hold at Deutsche Bank... Weingarten Realty (WRI) upgraded to Neutral from Sell at UBS... Werner (WERN) upgraded on improving freight fundamentals at RBC Capital... diaDexus (DDXS) upgraded to Buy from Neutral at Ladenburg,
06:38 EDTSSLSasol downgraded to Neutral from Buy at BofA/Merrill
06:22 EDTSSLSasol upgraded to Neutral from Underweight at HSBC
05:07 EDTETPEnergy Transfer Partners reports Q4 continuing operations EPS (27c)
May not compare to consensus 64c. Reports Q4 revenue $12.28B, may not compare to consensus $14.56B.
February 18, 2015
10:05 EDTSSLOn The Fly: Analyst Downgrade Summary
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05:55 EDTSSLSasol announces change to dividend policy, segmental reporting
In response to the current low oil price environment, an initiative to conserve cash over the next 30 months was announced by Sasol on January 28. Looking specifically at the capital structuring lever, the management team and the Sasol board evaluated the company's progressive dividend policy, which had been introduced to maintain or improve dividends in line with the company's anticipated sustainable growth in earnings. The company's dividend policy takes into consideration various factors, including overall market and economic conditions, the group's financial position, capital investment plans as well as earnings growth. In the context of a low oil price environment, the group's earnings will be negatively impacted. The current macroeconomic conditions have therefore necessitated a reassessment of the company's progressive dividend policy. At a special meeting of the Sasol board, the directors approved a change in the company's dividend policy. The revised policy is based on a dividend cover range, which will be similar to the dividend cover rates applied during the 2008 to 2014 financial years. The board considers that, in the current environment, this revised dividend policy, together with the other components of the Response Plan, will provide sufficient flexibility for the company to manage its balance sheet. This will also allow the group to execute its growth programme while continuing to return value to shareholders through dividend payouts. Another important component of the company's Response Plan efforts is the ongoing refinement of its operating model, and the further optimisation of its management structures to ensure greater focus and efficiency while enabling additional cost reductions. To this end, earlier this month, Sasol announced changes to its top management structures. The company has also decided to combine two of its reportable segments, Southern Africa Energy and International Energy, and their associated management structures, into one segment, now called Energy. Given this decision, Sasol's segmental reporting will now consist of six reportable segments: Mining, Exploration and Production International, Energy, Base Chemicals, Performance Chemicals, and Group Functional Support.
05:26 EDTSSLSasol downgraded to Sell from Neutral at UBS

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