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Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:31 EDTSDLPSeadrill Partners acquires additional 28% interest in Seadrill Operating
Seadrill Partners announced today that it has entered into an agreement with Seadrill Limited pursuant to which it will acquire an additional 28% interest in Seadrill Operating for approximately $373M. After completion of the acquisition, the company will own a 58% interest in Seadrill Operating which is now in line with the ownership level of the company's other ultra-deepwater operating company which is 51% owned. The objective of the transaction is to increase exposure to assets that are well known to the company and that have stable cash flows. The transaction is expected to be cash flow and net asset value accretive and therefore to lead to increased distributions. The acquisition of additional interests is expected to close before the end of July and will be financed by funds from recent common unit offerings and surplus funds from the company's recent term loan B financing. The Board of Directors and the Conflicts Committee of the Board have approved the terms and conditions of the acquisition. The Conflicts Committee retained a financial advisor to assist with its evaluation of the transaction. The acquisition is expected to be accretive and is consistent with the Company's growth and diversification strategy. The Board believes that the long-term fundamental outlook for the offshore drilling industry remains strong, and is positive about the company's future growth prospects.
News For SDLP From The Last 14 Days
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February 27, 2015
09:58 EDTSDLPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
07:13 EDTSDLPRBC Capital downgraded Seadrill Partners on lack of catalysts
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06:38 EDTSDLPSeadrill Partners downgraded to Sector Perform from Outperform at RBC Capital
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