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Stock Market & Financial Investment News

News Breaks
June 3, 2014
04:55 EDTVET, VET, DNR, DNR, CLMT, CLMT, XCO, XCO, CVA, CVA, PVA, PVA, KOG, KOG, AREX, AREX, CRK, CRK, BAS, BAS, AES, AES, ACMP, ACMP, ATHL, ATHL, VTG, VTG, HK, HK, GDP, GDPBofA/Merrill to hold a conference
2014 Energy & Power Leveraged Finance Conference to be held in New York on June 3-4.
News For VET;HK;VTG;ATHL;ACMP;AES;BAS;CRK;AREX;KOG;PVA;CVA;XCO;CLMT;DNR;GDP From The Last 14 Days
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April 17, 2015
18:48 EDTXCOEXCO Resources names Harold Jameson as COO, effective April 17
EXCO Resources (XCO) announced that EXCO’s Board of Directors appointed Harold Jameson as EXCO’s COO, effective April 17. Jameson most recently served as EXCO’s Vice President of Development & Production with primary responsibilities including EXCO’s horizontal shale development drilling programs in the Haynesville, Eagle Ford and Marcellus assets. Prior to joining EXCO in 2007, Jameson was employed at Anadarko Petroleum (APC) from 1991 to 2007.
April 16, 2015
10:10 EDTPVAPenn Virginia sale process said to stall, dealReporter says
Penn Virginia’s sale process has stalled due to valuation issues that have not been bridged by the seller and potential buyers, reported dealReporter, citing industry bankers, according to contacts. Penn Virginia shares are down 2.9% to $7.76 in early trading.
09:34 EDTBASBasic Energy downgraded to Reduce from Neutral at Global Hunter
April 15, 2015
10:36 EDTAESBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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10:00 EDTDNROn The Fly: Analyst Initiation Summary
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06:31 EDTDNRDenbury Resources initiated with a Sell at Goldman
Target $6.
April 13, 2015
13:26 EDTBASOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
10:00 EDTBASOn The Fly: Analyst Downgrade Summary
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08:31 EDTBASBasic Energy downgraded to Market Perform from Outperform at Raymond James
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06:09 EDTBASBasic Energy reports March well servicing rig count unchanged at 421
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April 12, 2015
18:32 EDTVTGObama administration expected to toughen offshore drilling regulations, WSJ says
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April 8, 2015
06:22 EDTAESAES Corp. announces signing of Heads of Terms agreement at Maritza
AES Corporation announced that one of its subsidiaries, AES 3C Maritza East has signed a Heads of Terms Agreement with NEK, the state-owned wholesale power company. Under the framework set forth in the HTA, both parties will endeavor to make certain changes to the Power Purchase Agreement, under which Maritza sells its output to NEK through 2026. Maritza and NEK agreed to reduce the capacity payment to Maritza under the PPA by 14% through the PPA Term. In exchange, NEK will pay Maritza its full outstanding receivables, which as of March 31, 2015 were approximately $236M. A binding agreement is expected to be signed by the third quarter of 2015 and is subject to customary regulatory approvals. The terms of the HTA, once implemented, will have an approximate 3c per share annual impact on the Company’s Adjusted EPS, which has been reflected in the Company’s 2015 guidance and expectations through 2018 provided on its fourth quarter earnings call on February 26, 2015.

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