New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 15, 2014
16:24 EDTWPZWilliams Partners lowers FY14 financial guidance due to delays at Geismar
Williams Partners is lowering its financial guidance for 2014; financial guidance for 2015 and 2016 are unchanged. The 2014 change is primarily the result of delays in Geismar’s expected in-service date and increased construction spending. The updated guidance also reflects various other changes since the company issued guidance in October 2013. “The strength of Williams Partners’ ongoing business allows us to preserve the growth reflected in its 2015 and 2016 financial guidance,” said Alan Armstrong CEO. “We are lowering the 2014 guidance primarily as a result of delays and cost increases specific to work to bring the expanded, rebuilt Geismar facility back into service. We are now targeting late July for initiation of the startup process.” The Geismar plant rebuild and expansion projects are targeted for initiation of startup in late July. Williams Partners’ financial guidance assumes ethylene sales commencing in mid-August. The delay from the previous expectation of startup initiation in late June resulted from lower than planned construction labor productivity and other factors on both the rebuild and expansion projects. The Geismar expansion project capital spending is expected to increase to $715M, up $65M from previous guidance, primarily as a result of such delays. The company projects total cash distribution in 2014 to be $2.34B-$2.4B; DCF attributable to partnership operations of $2B-$2.2B.
News For WPZ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 26, 2015
16:32 EDTWPZStocks end week lower with Greece still searching for deal
Subscribe for More Information
June 25, 2015
12:59 EDTWPZOptions with increasing implied volatility
Subscribe for More Information
06:40 EDTWPZWilliams downgraded to Neutral from Overweight at JPMorgan
Subscribe for More Information
June 24, 2015
07:18 EDTWPZCredit Suisse to hold a conference
2015 MLP & Energy Logistics Conference is being held in New York on June 23-24 with webcasted company presentations to begin on June 24 at 8 am; not all company presentations may be webcasted. Webcast Link
June 23, 2015
11:00 EDTWPZOptions with increasing implied volatility
Options with increasing implied volatility:TRIP WPZ CMG BIIB WMB AMZN ISRG VMW
07:36 EDTWPZEnergy Transfer Equity bid for Williams positive, says RBC Capital
Subscribe for More Information
June 22, 2015
17:04 EDTWPZOn The Fly: Top stock stories for Monday
Subscribe for More Information
10:41 EDTWPZOptions with increasing implied volatility
Subscribe for More Information
June 21, 2015
18:23 EDTWPZWilliams sees 10%-15% dividend growth through 2020
Subscribe for More Information
18:21 EDTWPZWilliams to explore strategic alternatives after unsolicited proposal
Williams (WMB) announced that its board of directors has authorized a process to explore a "range" of strategic alternatives -- including a merger, a sale of Williams, or continuing the existing operating plan -- following receipt of an unsolicited proposal to acquire Williams in an all-equity transaction at a stated per share price of $64. The unsolicited proposal was contingent on the termination of Williams’ pending acquisition of Williams Partners (WPZ). With the assistance of its outside financial and legal advisors, the Williams board considered the unsolicited proposal and determined that it "significantly" undervalues Williams and would not deliver value commensurate with what Williams expects to achieve on a standalone basis and through other growth initiatives, including the pending acquisition of Williams Partners. During its strategic review process, Williams will continue to work towards the completion of the Partners transaction.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use