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Stock Market & Financial Investment News

News Breaks
May 30, 2014
09:30 EDTSTNGScorpio Tankers announces agreement to acquire 7.5M shares
Scorpio Tankers announced that it has entered into an agreement whereby the company will purchase from an existing shareholder 7.5M common shares of the company in exchange for the sale to said shareholder of 3.42M common shares the company currently owns in Dorian LPG in a privately negotiated transaction. As a result of the disposal of the 3.42M Dorian shares, the Company will recognize a gain of approximately $11M and its ownership in Dorian will be reduced to 9.4M shares. This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close in June. In addition to the transaction announced today, the company has repurchased 2.76M of its common shares at an average price of $8.89 per share before commissions. As of today, the company has $75.3M remaining on its $100M stock buyback authorization, which was announced on April 28. The Company also announced that it has recently taken delivery of four product tankers under its Newbuilding Program.
News For STNG From The Last 14 Days
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March 2, 2015
09:22 EDTSTNGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amira Nature Foods (ANFI), up 8.6%... Stratasys (SSYS), up 3.6%... Magnum Hunter (MHR), up 3%. ALSO HIGHER: Mavenir Systems (MVNR), up 19.1% after Mitel (MITL) agrees to acquire Mavenir Systems for $560M... Athersys (ATHX), up 19.7% following license agreement and collaboration with Chugai... OHR Pharmaceutical (OHRP), up 11.4% following additional positive data from OHR-102 IMPACT study... NXP Semiconductors (NXPI), up 14% following merger agreement with Freescale Semiconductor (FSL). Freescale Semiconductor is up 9.1%... Mast Therapeutics (MSTX), up 7.7% following positive results from Vepoloxamer study. DOWN AFTER EARNINGS: JinkoSolar (JKS), down 4.7%... Scorpio Tankers (STNG), down 4.5%. ALSO LOWER: Lumber Liquidators (LL), down 24.2% following CBS' 60 Minutes says that the company is linked to health and safety violations... Aruba Networks (ARUN), down 1.7% after HP (HPQ) confirms deal to acquire Aruba Networks for $24.67... Pacira Pharmaceuticals (PCRX), down 14.4% after receiving complete response letter from FDA for sNDA in use of Exparel... 500.com (WBAI), down 14.4% after announcing that temporary suspension will adversely impact financial results.
08:19 EDTSTNGScorpio Tankers reports Q4 adjusted EPS 12c, consensus 14c
Reports Q4 revenue $125.74M, consensus $129.71M.
February 20, 2015
10:01 EDTSTNGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advanced Drainage (WMS) initiated with an Outperform at Boenning & Scattergood... Arctic Cat (ACAT) initiated with a Hold at BB&T... Ardmore Shipping (ASC) initiated with an Accumulate at Global Hunter... Baltic Trading (BALT) initiated with a Speculative Buy at Global Hunter... Cash America (CSH) initiated with a Buy at Jefferies... Costamare (CMRE) initiated with an Accumulate at Global Hunter... DHT Holdings (DHT) initiated with a Buy at Global Hunter... Danaos (DAC) initiated with a Neutral at Global Hunter... Diana Containerships (DCIX) initiated with a Neutral at Global Hunter... Diana Shipping (DSX) initiated with a Neutral at Global Hunter... Euronav NV (EURN) initiated with a Buy at Global Hunter... Forest City (FCE.A) initiated with a Neutral at Citigroup... Fox Factory (FOXF) initiated with a Hold at BB&T... Frontline (FRO) initiated with an Accumulate at Global Hunter... Global Ship Lease (GSL) initiated with a Neutral at Global Hunter... GrubHub (GRUB) initiated with an Overweight at Barclays... Jazz Pharmaceuticals (JAZZ) initiated with an Outperform at BMO Capital... Kinder Morgan (KMI) reinstated with an Overweight at Barclays... Liberty Broadband (LBRDA) initiated with an Outperform at FBN Securities... Liberty Interactive (QVCA) initiated with a Sector Perform at FBN Securities... Liberty Media (LMCA) initiated with an Outperform at FBN Securities... MEI Pharma (MEIP) initiated with a Buy at BofA/Merrill... Navios Acquisition (NNA) initiated with a Buy at Global Hunter... Polaris Industries (PII) initiated with a Buy at BB&T... Raven (RAVN) initiated with an Equal Weight at Stephens... Scorpio Bulkers (SALT) initiated with a Speculative Buy at Global Hunter... Scorpio Tankers (STNG) initiated with an Accumulate at Global Hunter... Seaspan (SSW) initiated with a Neutral at Global Hunter... Star Bulk Carriers (SBLK) initiated with a Speculative Buy at Global Hunter... Tsakos Energy (TNP) initiated with a Buy at Global Hunter... U.S. Concrete (USCR) initiated with an Overweight at Stephens.
07:28 EDTSTNGScorpio Tankers initiated with an Accumulate at Global Hunter
Target $10.

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