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News Breaks
December 11, 2012
17:44 EDTCHK, ACMP, WMBWilliams to invest $2.4B in ACMP, ACMP acquires Chesapeake assets for $2.16B
Williams (WMB) Agrees to Acquire 50% Interest in Access Midstream Partners GP (ACMP), and Approximately 25% of the Limited Partner Units of Access Midstream Partners, LP for Approximately $2.4B; ACMP to Acquire Most of Chesapeake's (CHK) Remaining Gathering & Processing Assets for $2.16B. Following the Access Midstream transaction, Williams and GIP, each 50% percent owners of Access GP, will have equal governance rights; ACMP will be governed by its board in accordance with its governance documents. Williams will have the right, upon closing of the transactions announced today, to appoint certain of its representatives as directors to Access GP's board.
News For WMB;ACMP;CHK From The Last 14 Days
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February 8, 2016
10:54 EDTCHKChesapeake trading halted, pending news
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10:43 EDTCHKChesapeake trading halted for volatility after dropping 47% to $1.62
10:37 EDTWMBEnergy Transfer leads MLP rout after CFO change
The shares of Energy Transfer Equity (ETE) are plunging after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, the shares of the Master Limited Partnership, or MLP, and a number of peers were downgraded by research firm Robert W. Baird. Master Limited Partnerships are publicly traded partnerships that receive tax benefits and often own oil assets. WHAT'S NEW: Energy Transfer Equity announced that its CFO, Jamie Welch, would step down from the post. According to the company, Welch's departure was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Welch will be replaced by Thomas Long, who is currently CFO of Energy Transfer Partners, L.L.C., which owns the general partner of Energy Transfer Partners, L.P. (ETP), another MLP. STREET RESEARCH: This morning, Baird analyst Ethan Bellamy downgraded nine MLP stocks, including both Energy Transfer names. The analyst said he would remain bearish on the sector until oil prices and high yield bottom. Bellamy expects the sector to be pressured by a number of related factors, including the bankruptcy of exploration and production companies, fund outflows, and macro economic conditions. In addition to ETE and ETP, the analyst downgraded EnLink Midstream (ENLC), ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings (PAGP) to Underperform and cut Antero Midstream (AM), ONEOK (OKE) and Tallgrass Energy GP (TEGP) to Neutral. Addressing the departure of Energy Transfer Equity's CFO, Wells Fargo said it does not think that the CFO's departure indicates any change to the MLP's pending merger with The Williams Company (WMB). The firm added that it has no knowledge of any accounting issues that prompted the CFO to leave. It continues to believe that Energy Transfer Equity will rise over the longer term and it kept an Outperform rating on that stock. It maintained a Market Perform rating on Williams. PRICE ACTION: In early trading, Energy Transfer Equity sank 26% to $5.20, Williams tumbled 24% to $13.03, Oneok dropped 13.5% to $22.10, Plains All American retreated 9.8% to $18.46 and Tallgrass sank 20% to $11.59.
10:35 EDTCHKChesapeake trading resumes, shares down 42% to $1.78
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10:30 EDTCHKChesapeake Energy brings in restructuring lawyers, Reuters reports
Chesapeake Energy has brought in restructuring lawyers from Kirkland & Ellis, Reuters reports, citing people familiar with the matter. Reference Link
10:26 EDTWMBOptions with increasing implied volatility
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
09:59 EDTWMBWilliams halted for circuit-breaker after falling 33.6% to $11.37
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09:45 EDTCHKChesapeake halted for circuit-breaker after falling 35% to $2.00
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09:36 EDTCHKActive equity options trading on open
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09:17 EDTCHKOn The Fly: Pre-market Movers
HIGHER: Apollo Education (APOL), up 26.6% after announcing that it will be acquired for $9.50 per share... Sprouts Farmers Market (SFM), up 5% after being added to S&P 400... GoPro (GPRO), up 3.4% after signing a licensing agreement with Microsoft (MSFT). LOWER: BioCryst Pharmaceuticals (BCRX), down 60.9% after reporting OpuS-2 clinical trial results... CTI BioPharma (CTIC), down 55.4% after the FDA placed a partial clinical hold on pacritinib studies... Tableau (DATA), down 5.5% after being downgraded to Equal Weight at Morgan Stanley... HSBC (HSBC), down 3.6% after being downgraded to Underweight from Equal Weight at Morgan Stanley... Chesapeake Energy (CHK), down 21% after Hedgeye analyst Kevin Kaiser said in an interview with Barron's that Chesapeake could go to zero... Twitter (TWTR), down 2.9% after backlash over its new algorithmic timeline.
09:00 EDTCHKHedgeye analyst Kaiser says Linn, Chesapeake could go to zero, Barron's reports
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08:56 EDTCHKChesapeake hires restructuring attorneys Kirkland & Ellis, Debtwire reports
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07:19 EDTWMBEnergy Transfer, Williams likely to drop on CFO departure, says Wells Fargo
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February 5, 2016
05:38 EDTCHKStocks with implied volatility movement; XLU CHK
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February 4, 2016
10:10 EDTWMBOptions with decreasing implied volatility
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February 3, 2016
10:54 EDTWMBOptions with decreasing implied volatility
Options with decreasing implied volatility: WMB INVN FTNT NOW SNDK HOG UA CTXS KORS AMZN
February 2, 2016
07:29 EDTWMBHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "A Legislative Hearing on Eight Energy Infrastructure Bills" with Director Miles of FERC and Timothy Powell of the Williams Company on February 2 at 10 am. Webcast Link
February 1, 2016
16:01 EDTCHKOptions Update; February 1, 2016
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10:25 EDTWMBWilliaOptions with increasing implied volatility: WMB ENDP RAD
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January 29, 2016
10:16 EDTWMBOptions with increasing implied volatility: WMB W CERS RAD CRM GILD MNST
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