New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:02 EDTALE, PNW, AVA, EE, UIL, GXP, POR, WR, IDA, EDENumber of electric utilities could become takeover targets, says Bernstein
Bernstein identifies the following electric utilities as potential takeover targets: UIL Holdings (UIL), Empire District Electric (EDE), Portland General Electric (POR), El Paso Electric (EE), IDACORP (IDA), Great Plains Energy (GXP), Avista (AVA), Westar Energy (WR), Pinnacle West (PNW), and Allete (ALE).
News For UIL;EDE;POR;EE;IDA;GXP;AVA;WR;PNW;ALE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
February 26, 2015
16:52 EDTUILOn The Fly: Closing Wrap
Stocks on Wall Street moved in a narrow range for most of the session while remaining near record levels. The Nasdaq was the strongest of the indices, as it continues its march towards 5,000. Crude oil prices fell by over 5% during the regular trading session, but recovered a bit in after-hours trading. The market is on pace to complete its fourth consecutive week of gains and close out the month of February with gains after suffering losses in January. ECONOMIC EVENTS: In the U.S., the Consumer Price Index fell 0.7% in January, with the core rate rising 0.2%, versus expectations for the headline CPI to be down 0.6% and the core rate to rise 0.1%. Initial jobless claims rose 31K to 313K in the week ended February 21, versus expectations for 290K first-time claims. Durable goods orders rose 2.8% in January, versus expectations for a 1.6% increase. The FHFA home price index rose 0.8% to 218.6 in December, versus expectations for an increase of 0.5%. COMPANY NEWS: The Federal Communications Commission voted 3 to 2 in favor of adopting new open Internet, or "net neutrality," rules. FCC Chairman Tom Wheeler has proposed that the FCC use its Title II authority to implement and enforce "bright-line" rules to ban paid prioritization and the blocking and throttling of lawful content and services. However, Wheeler said his proposal will "modernize" Title II, insuring there will be no rate regulation, no tariffs, and no last-mile unbundling. Major Internet Service Providers, including Verizon (VZ), AT&T (T), and Comcast (CMCSA), have opposed the rules, while Netflix (NFLX) has been a strong and vocal supporter of open Internet provisions... Shares of International Business Machines (IBM) slipped $1.94, or 1.19%, to $160.87 after Big Blue held its investor day meeting in NYC. At the meeting, IBM backed its fiscal year profit view but also said that the company now expects currency to impact revenue growth by over 6 points for the full year, which is greater than the impact previously provided based on January 16 spot rates. IBM also said it was shifting $4B into "strategic initiatives," including Big Data, the Cloud, mobile, social and security... Barnes & Noble (BKS) rose $1.67, or 6.89%, to $25.92 after announcing plans to split its Education business from its Retail and NOOK Digital businesses. The separation into two independent, publicly traded companies is anticipated to be completed by the end of August and is intended to be a tax-free distribution to shareholders, B&N noted. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which jumped $1.57, or 24.69%, to $7.93 after the company agreed to be acquired by Avago Technologies (AVGO) for $606M, or $8 per share in cash. Avago also rose $16.57, or 14.71%, to $129.25 after announcing the deal and reporting "beat and raise" quarterly results. Also higher was UIL Holdings (UIL), which gained $9.74, or 23.01%, to $52.07 after the company agreed to be acquired by Iberdrola USA to create a newly listed U.S. publicly-traded company. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, the companies said. Among the noteworthy losers was Clayton Williams (CWEI), which fell $11.41, or 17.77%, to $52.79 after the company suspended drilling operations in both of its core resource plays, citing low oil prices, and its shares were downgraded at Wunderlich. Also lower following their earnings reports were network solutions provider Inteliquent (IQNT), which dropped $3.05, or 17.33%, to $14.55, and electric weapons maker TASER (TASR), which slid $4.36, or 16.14%, to $22.68. INDEXES: The Dow fell 10.15, or -0.06%, to 18,214.42, the Nasdaq gained 20.75, or 0.42%, to 4,987.89, and the S&P 500 declined 3.12, or 0.15%, to 2,110.74.
05:47 EDTUILUIL Holdings to combine with Iberdrola USA
Iberdrola USA and UIL Holdings announced that they have entered into a definitive agreement under which Iberdrola USA will acquire UIL and create a newly listed U.S. publicly-traded company. The agreement, which has been unanimously approved by both companiesí boards, creates a leading, diversified power and utility company in the Northeast. UILís current president and CEO, James Torgerson, will become the companyís CEO upon closing. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, representing a 24.6% premium to UILís closing share price on February 25, and a 19.3% premium to the average closing price over the past 30 days. The value of the stock consideration received is based on the mid-point of the combined companyís estimated 2016 and 2017 EPS valued at peer P/E multiples of 17.5x and 16.5x, respectively. The combined entity will have a rate base of approximately $8.3B and expects to invest $6.9B in regulated electric and gas infrastructure and other capital expenditures over the next five years. The combined company will serve 3.1M electric and gas customers across New York, Connecticut, Maine and Massachusetts. It will also have a highly-contracted 6.5 GW primarily renewables portfolio, which includes the second largest operating wind portfolio in the U.S., and a total pipeline of over 6 GW.
05:43 EDTUILUIL Holdings sees FY15 EPS $2.30-$2.50, consensus $2.43
Subscribe for More Information
05:42 EDTUILUIL Holdings reports Q4 EPS 62c, consensus 63c
Subscribe for More Information
February 25, 2015
17:14 EDTGXPGreat Plains Energy reports Q4 EPS 12c, consensus 13c
Reports Q4 revenue $552.2M, consensus $551.26M.
17:04 EDTWRWestar Energy sees FY15 EPS $2.25-$2.45, consensus $2.42
Subscribe for More Information
17:03 EDTWRWestar Energy reports Q4 EPS 33c, consensus 35c
Reports Q4 revenue $596.4M, consensus $572.17M.
08:23 EDTEEEl Paso Electric sees FY15 EPS $1.75-$2.15, consensus $2.13
Subscribe for More Information
08:22 EDTEEEl Paso Electric reports Q4 EPS 10c, consensus 11c
Subscribe for More Information
07:11 EDTAVAAvista backs FY15 EPS view $1.86-$2.06, consensus $1.98
Subscribe for More Information
07:11 EDTAVAAvista reports Q4 EPS 51c, consensus 55c
Subscribe for More Information
February 20, 2015
08:34 EDTPNWPinnacle West targets earned return on average common equity over 9.5%
Subscribe for More Information
08:33 EDTPNWPinnacle West affirms FY15 EPS view $3.75-$3.95, consensus $3.86
Subscribe for More Information
08:32 EDTPNWPinnacle West reports Q4 EPS 5c, consensus 18c
Reports Q4 revenue $726.5M, consensus $738.07M. Robust operational performance, combined with disciplined cost management, helped us achieve solid full-year financial results, despite weather contributions that were below historical averages and well below last year,Ē said Pinnacle West CEO Don Brandt.
February 19, 2015
15:32 EDTPNWNotable companies reporting before tomorrow's open
Subscribe for More Information
08:11 EDTIDAIDACORP sees FY15 EPS $3.65-$3.80, consensus $3.65
Subscribe for More Information
08:11 EDTIDAIDACORP reports Q4 EPS 69c, consensus 58c
Subscribe for More Information
February 18, 2015
12:38 EDTALEExcellere completes sale of U.S. Water Services to Allete
Excellere Partners announced that it completed the sale of its portfolio company U.S. Water Services to Allete on February 10. Headquartered in St. Michael, Minnesota, U.S. Water is an innovative provider of integrated industrial solutions for water treatment.
February 17, 2015
08:35 EDTALEAllete sees FY15 EPS $3.00-$3.20, consensus $3.21
Subscribe for More Information
08:32 EDTALEAllete reports Q4 EPS 73c, consensus 68c
Subscribe for More Information
1 | 2 | all recent news | >>

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