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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:50 EDTWNR, TSO, MRO, EPD, PSX, HFC, PXD, VLORefiners slip after U.S. widens oil export potential
Shares of Pioneer Natural Resources (PXD) are rising in early trading after the U.S. reportedly gave Pioneer and Enterprise Products Partners (EPD) permission to ship a type of light oil known as condensate to foreign buyers. Meanwhile, shares of refiners are trading lower following the news. WHAT'S NEW: The U.S. Department of Commerce's Bureau of Industry and Security told Pioneer Natural that putting condensate through a stabilizer was sufficient processing to qualify it to be eligible for export without a license, according to Reuters, citing a statement from the company. The Wall Street Journal also reported that the Department of Commerce had given approval via a private ruling to Pioneer and Enterprise Product Partners to export condensate. WHAT'S NOTABLE: Refiners may see their profits drop if they are forced to pay higher prices to compete with international buyers for U.S. crude. “We don’t think the current system needs to be changed,” a spokesman for Valero Energy (VLO), Bill Day, told Bloomberg. Other publicly traded refining companies include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), and Western Refining (WNR). PRICE ACTION: In pre-market trading Pioneer Natural Resources was up 2% to $226.50, while Enterprise Products Partners was up 1.7% to $77.40. Shares of several refiners' stocks were indicated to open lower, with Valero down over 4% in pre-market trading, Phillips 66 down 2.8% and Tesoro down 2.5%.
News For VLO;PSX;TSO;PXD;EPD;WNR;HFC;MRO From The Last 14 Days
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July 24, 2015
10:00 EDTWNR, TSO, VLO, HFCOn The Fly: Analyst Initiation Summary
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07:13 EDTHFCHollyFrontier initiated with an Outperform at Macquarie
Target $52.
07:13 EDTTSOTesoro initiated with an Outperform at Macquarie
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07:12 EDTWNRWestern Refining initiated with a Neutral at Macquarie
Target $43.
07:11 EDTVLOValero initiated with an Outperform at Macquarie
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07:10 EDTEPDGenesis Energy completes acquisition of Enterprise offshore pipeline
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July 23, 2015
10:00 EDTEPDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ARRIS (ARRS) initiated with a Buy at Drexel Hamilton... AVG Technologies (AVG) initiated with an Overweight at JPMorgan... Aaron's (AAN) initiated with a Hold at Cantor... Aimco (AIV) initiated with a Hold at Canaccord... American Campus (ACC) initiated with a Hold at Canaccord... Antero Midstream (AM) initiated with a Buy at DA Davidson... Cheniere Energy Partners LP (CQP) initiated with a Buy at DA Davidson... CommScope (COMM) initiated with a Buy at Drexel Hamilton... Digirad Corp (DRAD) initiated with a Buy at B. Riley... Dominion Midstream (DM) initiated with a Buy at DA Davidson... Education Realty (EDR) initiated with a Buy at Canaccord... Enterprise Products (EPD) initiated with a Buy at DA Davidson... Essex Property Trust (ESS) initiated with a Hold at Canaccord... Extra Space Storage (EXR) initiated with an Outperform at Baird... Harmonic (HLIT) initiated with a Hold at Drexel Hamilton... Imprimis (IMMY) initiated with a Buy at Sterne Agee CRT... National Retail Properties (NNN) initiated with a Neutral at DA Davidson... Nutrisystem (NTRI) initiated with a Buy at Lake Street... PLC Systems Inc (PLC) initiated with a Buy at Sterne Agee CRT... PayPal (PYPL) initiated with a Neutral at UBS... Preferred Apartment (APTS) initiated with a Buy at Canaccord... Public Storage (PSA) initiated with a Neutral at Baird... Realty Income (O) initiated with a Neutral at DA Davidson... RingCentral (RNG) initiated with an Overweight at JPMorgan... SeaChange (SEAC) initiated with a Hold at Drexel Hamilton... Sovran Self Storage (SSS) initiated with an Outperform at Baird... Spectra Energy Partners (SEP) initiated with a Buy at DA Davidson... U-Store It Trust (YSI) initiated with an Outperform at Baird... Whitestone REIT (WSR) initiated with an Outperform at Baird... eBay (EBAY) initiated with an Equal Weight at Morgan Stanley.
06:42 EDTEPDEnterprise Products initiated with a Buy at DA Davidson
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July 22, 2015
08:37 EDTPXDPioneer Natural affirms FY15 production growth forecast of at least 10%
Pioneer is maintaining its full-year 2015 production growth forecast at 10%+. Although production growth in the Eagle Ford Shale is now forecasted to be nominal in 2015, production from the Spraberry/Wolfcamp is forecasted to grow by 22%-24% in 2015 compared to the 20%+ previously forecasted. The reduction in the Eagle Ford Shale growth rate is primarily due to the delays in placing wells on production and performance issues during the first half of 2015, while the increase in the Spraberry/Wolfcamp growth rate reflects the continuing strong performance of the horizontal drilling program, especially in Pioneer’s northern acreage.
08:36 EDTPXDPioneer Natural Resources reports 197,000 BOEPD in Q2
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06:28 EDTPXDPioneer Natural coverage assumed with an Outperform at Credit Suisse
Target $186.
July 20, 2015
07:27 EDTEPDGenesis Energy reports full exercise of underwriters' option to purchase shares
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05:27 EDTEPDGenesis Energy upgraded to Outperform from Market Perform at Wells Fargo
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July 16, 2015
06:32 EDTEPDGenesis Energy to acquire Enterprise offshore pipeline and services business
Genesis Energy (GEL) announced that it has entered into a purchase and sale agreement with an affiliate of Enterprise Products (EPD) to acquire the offshore pipeline and services business of Enterprise and its affiliates for approximately $1.5B. All closing conditions, other than those that are to be satisfied at the closing of the acquisition, have been satisfied or waived. The acquisition is expected to close in July 2015. The Enterprise offshore business assets include approximately 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms, including a 36% interest in the Poseidon Oil Pipeline System, a 50% interest in the Southeast Keathley Canyon Oil Pipeline System and a 50% interest in the Cameron Highway Oil Pipeline System. The Enterprise offshore business assets will complement and substantially expand our existing offshore pipelines segment, which is primarily comprised of our interests in three oil pipelines—Poseidon, SEKCO, and CHOPS. The Enterprise offshore business generates a substantial majority of its cash flow under long-term, fee-based contracts with high-quality customers and no direct exposure to commodity prices. Genesis Energy expects that the shippers on the crude oil pipelines in the Gulf of Mexico, which are mostly integrated and large independent energy companies, will continue to explore for and develop capital intensive, large-reservoir, and long-lived properties throughout the Gulf of Mexico even in the current lower commodity price environment. Genesis Energy believes that the continued exploration and development in the Gulf of Mexico combined with increased footprint after the acquisition of the Enterprise offshore business will provide the company with additional opportunities to develop organic growth projects in the offshore pipeline segment.
July 14, 2015
10:01 EDTPSXOn The Fly: Analyst Downgrade Summary
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10:01 EDTWNROn The Fly: Analyst Upgrade Summary
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08:56 EDTMROMorgan Stanley names 'Vintage Values 2016' list
Morgan Stanley named its "Vintage Values 2016" list, comprised of the firm's analysts' best ideas to hold over the next 12 months. Included on the list are Ameriprise (AMP), Apple (AAPL), Bank of America (BAC), Comcast (CMCSA), Crown Castle (CC), Estee Lauder (EL), Hilton (HLT), Ingersoll-Rand (IR), LinkedIn (LNKD), Magna (MGA), Marathon Oil (MRO), McKesson (MCK), Oaktree Capital (OAK), Thermo Fisher (TMO) and Visa (V).
06:05 EDTPSXPhillips 66 downgraded to Neutral from Buy at Goldman
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06:05 EDTWNRWestern Refining upgraded to Neutral from Sell at Goldman
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