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Stock Market & Financial Investment News

News Breaks
February 15, 2013
10:47 EDTFNV, FRX, WPX, XCO, ACTGHigh option volume stocks: XCO FRX ACTG WPX FNV
News For XCO;FRX;ACTG;WPX;FNV From The Last 14 Days
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February 10, 2016
19:33 EDTFNVOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
19:11 EDTFNVFranco-Nevada 11.5M share Spot Secondary priced at $47.85
BMO Capital, CIBC, RBC Capital and Scotiabank acted as joint book running managers for the offering.
16:58 EDTFNVFranco-Nevada to hold a conference call
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16:32 EDTFNVFranco-Nevada announces $550M common stock offering at $47.85 per share
Franco-Nevada announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and Scotiabank, pursuant to which they have agreed to purchase, on a bought deal basis, 11.5M common shares of Franco-Nevada at a price of $47.85 per common share, for aggregate gross proceeds to Franco-Nevada of approximately $550M. The underwriters will also have the option, exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1.73M common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to Franco-Nevada will be approximately $663M. The company plans to use the net proceeds of the Offering for the funding of Franco-Nevada's acquisition of a precious metals stream with reference to production from Glencore plc's Antapaccay Mine located in Peru, as announced on February 10, 2016, and the balance will be added to the working capital of the company and used for further investments and other general corporate purposes. The completion of the Offering is not conditional upon the successful completion of the Antapaccay Transaction.
February 9, 2016
10:00 EDTWPXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Neutral from Sell at Goldman... Electronic Arts (EA) upgraded to Buy from Neutral at Hilliard Lyons... First Interstate (FIBK) upgraded to Outperform from Market Perform at Fig Partners... Flagstar Bancorp (FBC) upgraded to Buy from Hold at Sandler O'Neill... Frontline (FRO) upgraded to Buy from Neutral at Clarksons Platou... Grifols (GRFS) upgraded to Buy from Hold at Berenberg... Grupo Financiero (GGAL) upgraded to Neutral from Underweight at JPMorgan... Kinross Gold (KGC) upgraded to Outperform from Neutral at Credit Suisse... Luxottica (LUX) upgraded to Hold from Underperform at Jefferies... PrivateBancorp (PVTB) upgraded on growth outlook at SunTrust... SS&C (SSNC) upgraded to Outperform from Market Perform at Raymond James... Salesforce (CRM) upgraded to Hold from Underperform at Jefferies... TCF Financial (TCB) upgraded to Neutral from Sell at Compass Point... TreeHouse (THS) upgraded to Overweight from Neutral at JPMorgan... WPX Energy (WPX) upgraded to Overweight from Equalweight at Capital One... Yelp (YELP) upgraded to Neutral from Sell at B. Riley.
08:41 EDTWPXWPX Energy upgraded to Overweight on another transformative deal at Capital One
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08:31 EDTWPXWPX Energy upgraded to Overweight from Equalweight at Capital One
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07:07 EDTWPXTerra Energy to acquire WPX Energy Rocky Mountain for $910M
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07:01 EDTWPXWPX Energy sells Piceance subsidiary for $910M to Terra Energy for $910M
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February 8, 2016
06:04 EDTXCOEXCO Resources board approves 2016 capital budget of $103M
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06:03 EDTXCOEXCO Resources reports Q4 estimated production of 29.3 Bcfe
Reports FY15 estimated production of 124 Bcfe. Estimated proved reserves of 907.3 Bcfe and PV-10 calculated using the prices prescribed by the SEC of $402M, as of December 31, 2015. PV-10 of proved reserves based on NYMEX futures prices as of December 31, 2015 was $811M.
February 4, 2016
07:38 EDTFNVFranco-Nevada downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Anita Soni downgraded Franco Nevada to Neutral based on valuation following a reduction in her price target to $53 from $57. The analyst reduced estimates to reflect less value for oil and gas and PGMs on lower price forecasts and Phoenix production suspension.

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