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Stock Market & Financial Investment News

News Breaks
August 7, 2014
07:46 EDTTOT, WPCW.P. Carey completes $114M acquisition of Total's Norway headquarters
W. P. Carey (WPC) has acquired the headquarters of Total (TOT) Norge in Stavanger, Norway, for approximately $114M after tax adjustments and transaction costs.
News For WPC;TOT From The Last 14 Days
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May 27, 2015
11:11 EDTWPCW.P. Carey to host investor day
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10:14 EDTTOTAnalyst says China trend good for oil equities
China's demand for oil has been stronger than expected and the trend should be positive for oil companies' stocks, research firm Bernstein wrote in a note to investors today. WHAT'S NEW: Chinese oil imports reached a record high in April, rising 9% versus the same period a year earlier, Bernstein analyst Neil Beveridge reported. The imports have exceeded expectations and have been boosted by high gasoline demand, according to the analyst. The high gasoline demand in China, in turn, has been driven by a 50% year-over-year increase in the sales of SUVs, according to Beveridge. Analysts will respond to this trend by increasing their global oil demand estimates, he predicted. Oil prices are likely to rise in the near-term, providing a tailwind for oil equities, according to Beveridge, who identified InterOil (IOC) and China's CNOOC (CEO) as two of his favorite names in the Asian region. Other publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). WHAT'S NOTABLE: Jaguar Land Rover, owned by India's Tata Motors (TTM), is launching its Range Rover Evoque SUV in China this fiscal year, but is having trouble ramping up production of the vehicle, Forbes reported last week. PRICE ACTION: in early trading, CNOOC was flat at $162.50 and InterOil slipped fractionally to $46.58.
05:25 EDTTOTTotal produces 2B barrels on deep offshore Block 17, Angola
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May 22, 2015
09:57 EDTTOTOn The Fly: Analyst Upgrade Summary
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07:00 EDTTOTBP upgraded to Neutral on reduced Russia risk at JPMorgan
JPMorgan upgraded BP (BP) to Neutral citing less risk in Russia and a pathway to cash flow neutrality in 2017. JPMorgan this morning also upgraded Total (TOT) to Overweight and Eni SpA (E) to Neutral.
05:31 EDTTOTTotal upgraded to Overweight from Neutral at JPMorgan
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May 20, 2015
07:33 EDTWPCW.P. Carey to fund development of $85M hotel in Munich, Germany
W. P. Carey's CPA:18 – Global has entered into an agreement to fund the completion of a new upscale lifestyle hotel in Munich, Germany. CPA®:18 – Global will provide approximately $85M to complete the construction of the hotel, which will be leased for a period of 20 years. The hotel will be a full-service 290-room upscale hotel initially funded with $45M at closing, with the remaining development budget disbursed through the successful completion and opening of the hotel in early 2016. The lease commences on opening and includes annual rent escalations.
May 19, 2015
07:33 EDTWPCW.P. Carey acquires majority interest in Ritz-Carlton Philadelphia
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May 18, 2015
07:32 EDTWPCW.P. Carey backs FY15 adjusted FFO $4.76-$5.02
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07:31 EDTWPCW.P. Carey reports Q1 adjusted FFO $1.22
Reports Q1 revenue $204.8M, comprised of net revenue from real estate ownership of $170.5M and net revenue from managed REITs of $34.4M.

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