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Stock Market & Financial Investment News

News Breaks
January 7, 2014
07:03 EDTWYWeyerhaeuser sees non-cash impairment charge of $300M in Q4
On November 4, Weyerhaeuser announced that the company and Weyerhaeuser Real Estate Company, an indirect wholly owned subsidiary of Weyerhaeuser, had entered into a Transaction Agreement dated as of November 3 with TRI Pointe Homes and one of TRI Pointe’s subsidiaries, Topaz Acquisition. Pursuant to the Transaction Agreement, Weyerhaeuser will distribute all the shares of common stock of WRECO to its shareholders (i) on a pro rata basis, (ii) in an exchange offer or (iii) in a combination thereof. Immediately following the Distribution, Merger Sub will merge with and into WRECO, with WRECO surviving the Merger and becoming a wholly owned subsidiary of TRI Pointe. Under the terms of the Transaction Agreement, certain assets and liabilities of WRECO and its subsidiaries relating to Weyerhaeuser’s real estate business are excluded from the transaction and retained by Weyerhaeuser, including assets and liabilities relating to a large master planned community north of Las Vegas, Nevada. The Coyote Springs Property has a current consolidated book value of approximately $370M. Home construction, sale and related development at the Coyote Springs Property have been delayed pending further market recovery. As a result of the transactions contemplated by the Transaction Agreement, Weyerhaeuser’s management has determined that the company’s strategy for development of the Coyote Springs Property will differ from WRECO’s current development plan. Consequently, Weyerhaeuser’s management has concluded that it will recognize a non-cash charge for the impairment of these assets in 4Q13. At this time, Weyerhaeuser estimates that the non-cash impairment charge relating to the Coyote Springs Property will likely be in excess of $300M. Comments taken from an 8-K filing.
News For WY From The Last 14 Days
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September 11, 2014
07:24 EDTWYUBS to hold a conference
Global Paper & Forest Products Conference to be held in New York on September 11 with webcasted company presentations to begin at 8:30 am; not all company presentations may be webcasted. Webcast Link
September 5, 2014
10:05 EDTWYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
06:22 EDTWYWeyerhaeuser initiated with a Neutral at JPMorgan
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September 4, 2014
10:29 EDTWYOn The Fly: Analyst Initiation Summary
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September 3, 2014
17:35 EDTWYWeyerhaeuser initiated with an Outperform at BMO Capital
Target $39.

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