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Stock Market & Financial Investment News

News Breaks
March 10, 2014
09:26 EDTVLCCF, FROKnightsbridge Tankers to purchase six Capesize bulk carriers from Frontline
Knightsbridge Tankers (VLCCF) and Frontline (FRO) announced that they and Karpasia Shipping, a company controlled by a trust established by John Fredriksen for the benefit of his immediate family have agreed for Knightsbridge to acquire five fuel efficient 180,000 DWT Capesize bulk carrier newbuildings from Frontline and one Capesize bulk carrier built in 2013 from Karpasia. The newbuildings were ordered by Frontline from Shanghai Waigaoqiao Shipbuilding in China and have expected deliveries of between May 2014 and September. Knightsbridge has agreed to pay $61M for each of the five Capesize newbuildings and $55M for the Capesize built in 2013. Of the total consideration of $360M, $186M will be paid in shares of Knightsbridge at $10 per share, $150M in absorption of remaining newbuilding CapEx and $24M in cash. Accordingly, Knightsbridge has agreed to issue 15.5M shares to Frontline and 3.1M shares to Karpasia, or another company controlled by trusts established by John Fredriksen for the benefit of his immediate family, on closing of the transaction. Knightsbridge will seek to raise around $30M in bank debt per vessel.
News For VLCCF;FRO From The Last 14 Days
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February 26, 2015
09:25 EDTFROOn The Fly: Pre-market Movers
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09:16 EDTFROFrontline sees imporved operating result in Q1
Frontline said: "The continued positive development in the crude tanker market into the first quarter is likely to give an improved operating result, excluding one time gains and losses, in the first quarter."
09:15 EDTFROFrontline confident in ability to repay convertible bond loan in April
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09:13 EDTFROFrontline reports Q4 EPS (12c), consensus (6c)
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February 20, 2015
10:01 EDTFROOn 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.
07:27 EDTFROFrontline initiated with an Accumulate at Global Hunter
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