New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 13, 2013
05:21 EDTTROX, APCCourt rules in favor of Tronox , Anadarko found liable
Tronox (TROX) issued the following statement in response to the Dec.12, U.S. federal bankruptcy court ruling in the case Tronox Incorporated vs. Anadarko Petroleum Corp: Ruling in favor of the plaintiff in Tronox Incorporated vs. Anadarko Petroleum Corporation, the United States Bankruptcy Court for the Southern District of New York found that Kerr-McGee acted with intent to delay and hinder Tronox's creditors when it spun off Tronox Incorporated. The court found Anadarko liable and indicated an ultimate damages award of $14.5B, subject to a set off against claims that Anadarko filed as a creditor in Tronox Incorporated's 2009 bankruptcy filing. The value of those claims will be determined following the submission of additional court papers. Tronox will receive no immediate or direct benefit from the Dec. 12 ruling. Instead, 88% of the judgment will go to trusts and other governmental entities to remediate polluted sites. The remaining 12% of any funds ultimately received will be distributed to a tort trust to compensate individuals injured as a result of Kerr-McGee's environmental failures. Tronox received a private letter ruling from the U.S. Internal Revenue Service confirming that the trusts that held the claims against Anadarko are grantor trusts of Tronox solely for federal income tax purposes. As a result, subject to a final damages determination by the court and potential appeal, Tronox Limited should be entitled to tax deductions equal to the amount spent by the trusts to remediate environmental matters and to compensate the injured individuals. These deductions will accrue over the life of the trusts as the funds received by the judgment are spent. Tronox believes that these expenditures and the accompanying tax deductions may continue for decades, and therefore, it expects that this tax benefit may continue for a lengthy period, potentially amounting to hundreds of millions of dollars annually.
News For TROX;APC From The Last 14 Days
Check below for free stories on TROX;APC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 21, 2014
06:16 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 27, Plug Power (PLUG) 134 according to iVolatility.
April 17, 2014
04:10 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 16, 2014
06:24 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 15, 2014
06:05 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 29, Plug Power (PLUG) 135 according to iVolatility.
April 14, 2014
05:55 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 11, 2014
06:03 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 10, 2014
07:13 EDTAPCAnadarko and Devon midstream assets underappreciated, says Credit Suisse
Subscribe for More Information
06:07 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 28, Plug Power (PLUG) 139 according to iVolatility.
April 9, 2014
05:55 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 8, 2014
06:23 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Subscribe for More Information
April 7, 2014
10:00 EDTAPCOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:03 EDTAPCAnadarko price target raised to $115 from $96 at Argus
Argus increased its price target on Anadarko after the company settled its Tronox litigation for an amount at the low end of the penalty range projected by a U.S. bankruptcy court. The firm thinks the settlement was favorable, and reiterates a Buy rating on the shares.
07:26 EDTAPCAnadarko downgraded to Accumulate from Buy at KLR Group
KLR Group downgraded Anadarko to Accumulate saying the share rally following the Tronox settlement is an overreaction. The firm raised its price target for shares to $114 from $113.
06:31 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 27, Plug Power (PLUG) 143 according to iVolatility.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use