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Stock Market & Financial Investment News

News Breaks
June 4, 2014
08:36 EDTTRP, APA, CVXTransCanada to proceed with $1.9B Merrick Mainline Pipeline Project
TransCanada (TRP) announced that its wholly-owned subsidiary, NOVA Gas Transmission has signed agreements with Chevron (CVX) Canada Limited and an Apache (APA) Canada wholly-owned and controlled partnership for approximately 1.9B cubic feet per day of firm natural gas transportation services to underpin the development of a major extension of TransCanada's NGTL System. The proposed Merrick Mainline Pipeline Project will be a significant new link in British Columbia's emerging liquefied natural gas export market. The pipeline will transport natural gas sourced through the NGTL System to the inlet of CVX/APA's proposed Pacific Trail Pipeline that will terminate at the Kitimat LNG Terminal at Bish Cove near Kitimat. The proposed project will be an extension from the existing Groundbirch Mainline section of the NGTL System beginning near Dawson Creek, B.C. to its end point near the community of Summit Lake, B.C. The $1.9B project will consist of approximately 260 kilometres of 48-inch diameter pipe. Under the commercial arrangements with CVX/APA, delivery volumes will ramp up between 2020 and 2022 to an aggregate volume of approximately 1.9 Bcf/d. NGTL is also in discussions with other parties that have expressed interest in transporting natural gas on the Merrick Mainline.
News For TRP;CVX;APA From The Last 14 Days
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November 16, 2015
07:42 EDTAPAAnadarko named a Top Pick at Cowen
Cowen moved Anadarko (APC) to a Top Pick, citing valuation and the company's ability to execute large, complex mergers. Cowen noted Anadarko approached Apache (APA) and declined when the deal did not happen, but the firm sees material upside for Anadarko shares. Cowen reiterated its Outperform rating and $87 price target on Anadarko.
06:51 EDTCVXBig energy firms saw 70% earnings dip for first nine months, WSJ says
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November 13, 2015
15:52 EDTAPAApache to hold a conference call
Management discusses the company's North Sea Region's current operations and drilling success on a conference call to be held on November 17 at 10 am. Webcast Link
November 11, 2015
12:17 EDTAPAOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday following a morning of lackluster trading, which may be due to lower volume on account of the observance of Veteran's Day. There were four initial public offerings that priced and each opened above their offering; a better reflection of the syndicate market than several weeks ago when deals could not be completed. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet with no major announcements. U.S. bond markets are closed in observance of Veteran's Day. In China, industrial output rose 5.6% in October, matching March's reading as the weakest since 2008. Retail sales climbed 11% last month, beating expectations. COMPANY NEWS: In another sign of China's transition from a purely industrial economy to one driven more by consumption, Alibaba Group (BABA)reported blockbuster sales for the 11.11 shopping festival, better known as "Singles' Day." By the end of Wednesday in China, gross merchandise volume on Alibaba's platforms hit $14.3B, far exceeding last year's 24-hour total of $9.3B, but shares of the Chinese e-commerce giant trading in New York slid 2%... Shares of Macy's (M) plunged over 13.5% and its peers followed it lower after the department store operator cut its outlook for fiscal year 2015 after reporting third quarter revenue that missed analysts' estimates. Macy's also said it will not be pursuing the formation of a real estate investment trust. Conversely, J.C. Penney (JCP) reported stronger than expected same-store sale growth and previewed that its soon-to-be reported earnings and gross margin performance in the third quarter exceeded its expectations, but the stock was caught in Macy's downdraft, falling about 2.5%... The boards of Anheuser-Busch InBev (BUD) and SABMiller (SBMRY) announced that they have reached agreement on the terms of a combination deal worth $107B. In relation to their deal, Molson Coors (TAP) entered into a definitive agreement to purchase SABMiller's (SBMRY) 58% stake in MillerCoors, the joint venture formed in the United States in 2008, in a transaction valued at $12B. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which rallied 4% after Dialog Semiconductor (DLGNF) said that it continues to "strongly" support its agreement to acquire Atmel. Also higher was Amazon (AMZN), which gained 2% after an analyst at Morgan Stanley raised his price target on the company's stock to $800 from $750M, citing the growing AWS opportunity. Among the noteworthy losers was Horizon Pharma (HZNP), which fell over 16% after Express Scripts (ESRX) cut ties with specialty pharmacy Linden Care, which is used by Horizon and Insys Therapeutics (INSY), which also dropped 9%. Also lower was SunEdison (SUNE), which lost another 14.5%, adding more losses to yesterday's post-earnings slide after UBS cut its price target on the company's shares to $6 from $9. In addition, Anadarko (APC) and Apache (APA) fell about 3.5% and 6%, respectively, after Anadarko confirmed that it sent a takeover proposal to Apache, which it later withdrew. INDEXES: Near midday, the Dow was up 3.87, or 0.02%, to 17,762.08, the Nasdaq was up 14.42, or 0.28%, to 5,097.66, and the S&P 500 was up 0.78, or 0.04%, to 2,082.50.
09:46 EDTTRPTransCanada awarded contract to build $500 natural gas Tuxpan Tula pipeline
TransCanada announced that it has been chosen to build, own and operate the Tuxpan-Tula Pipeline in Mexico. Construction of the pipeline is supported by a 25-year natural gas transportation service contract with the Comision Federal de Electricidad, Mexico's state owned power company. TransCanada expects to invest approximately $500M in the 36-inch diameter pipeline and anticipates an in-service date in the fourth quarter of 2017. The pipeline will be approximately 250 kilometres long and have contracted capacity of 886 million cubic feet a day. The pipeline will originate in Tuxpan in the state of Veracruz and extend through the states of Puebla and Hidalgo, supplying natural gas to CFE combined-cycle power generating facilities in each of those jurisdictions as well as to the central and western regions of Mexico.The pipeline will serve new power generation facilities as well as those currently operating with fuel oil which will be converted to use natural gas as their base fuel. Construction is expected to start in 2016.
09:30 EDTTRPTransCanada awarded contract to build $500M pipeline in Mexico
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08:36 EDTAPAApache drops 5.44% after Anadarko says withdraws merger proposal
08:35 EDTAPAAnadarko says 'no discussions of substance' occurred with Apache
08:35 EDTAPAAnadarko says non-binding offer for Apache was withdrawn
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08:35 EDTAPAAnadarko confirms it sent Apache non-binding offer to acquire the company
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08:34 EDTAPAAnadarko confirms it sent Apache non-binding offer to acquire the company
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05:23 EDTAPAStocks with implied volatility movement; GOGO APA
Stocks with implied volatility movement; Gogo (GOGO) 83, Apache (APA) 64 according to iVolatility.
November 10, 2015
12:41 EDTAPAAnadarko rejected by Apache after takeover approach, Bloomberg reports
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12:30 EDTAPAAnadarko falls 3.5%, halted for circuit breaker after report of Apache approach
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12:26 EDTAPAAnadarko made rejected approach to Apache, Bloomberg reports
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11:09 EDTTRPTransCanada to host investor day
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10:44 EDTAPAOptions with increasing implied volatility
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08:07 EDTAPAApache shares undervalued, says RBC Capital
RBC Capital believes that the potential takeover offer for Apache indicates that the company's stock is undervalued. The firm does not expect the company to be acquired, as it contends that Apache's strong balance sheet will enable it to fend off any hostile bid and wait for a recovery. However, the firm thinks that Apache is in the process of a turnaround, while its longer term outlook is positive. RBC raised its price target on the name to $62 from $60 and keeps an Outperform rating.
06:23 EDTTRPTransCanada: Alberta pipeline burst result of 'miscommunication,' Reuters says
TransCanada said that the rupture of its natural gas pipeline in Alberta two years ago was a result of "miscommunication" between staff and contractors that constructed the part of the line that burst, Reuters reports. Reference Link
05:08 EDTAPAStocks with implied volatility movement; APA POT
Stocks with implied volatility movement; Apache (APA) 56, Potash (POT) 40 according to iVolatility.
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