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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:05 EDTGLP, DDS, UNT, SMLP, SJI, PAGP, NGL, ESS, XTEX, XOMA, TIVO, SPLS, SBY, PEI, LAMR, EVBS, WHZ, TEP, LEAF, ROC, NSLPOn The Fly: Analyst Downgrade Summary
BJ's Restaurants (BJRI) downgraded to Neutral from Overweight at Piper Jaffray... Crosstex Energy LP (XTEX) downgraded to Hold from Buy at Wunderlich... Dillard's (DDS) downgraded to Neutral from Outperform at Credit Suisse... Eastern Virginia Bankshares (EVBS) downgraded to Market Perform at Keefe Bruyette... Essex Property Trust (ESS) downgraded to Hold from Buy at Stifel... Global Partners (GLP) downgraded to Sector Perform from Outperform at RBC Capital... Lamar Advertising (LAMR) downgraded to Neutral from Conviction Buy at Goldman... NGL Energy Partners (NGL) downgraded to Neutral from Outperform at RW Baird... New Source Energy (NSLP) downgraded to Neutral from Outperform at RW Baird... Pennsylvania REIT (PEI) downgraded to Hold from Buy at Stifel... Plains GP Holdings (PAGP) downgraded to Neutral from Outperform at RW Baird... Rockwood (ROC) downgraded to Neutral from Outperform at Macquarie... Silver Bay Realty (SBY) downgraded to Market Perform at Keefe Bruyette... South Jersey Industries (SJI) downgraded to Hold from Buy at Brean Capital... Springleaf (LEAF) downgraded to Underperform from Neutral at BofA/Merrill... Staples (SPLS) downgraded to Neutral from Buy at B. Riley... Summit Midstream (SMLP) downgraded to Neutral from Outperform at RW Baird... Tallgrass Energy (TEP) downgraded to Neutral from Outperform at RW Baird... TiVo (TIVO) downgraded to Neutral from Overweight at JPMorgan... Unit Corp. (UNT) downgraded to Hold from Buy at Brean Capital... Whiting USA Trust (WHZ) downgraded to Underperform from Neutral at RW Baird... XOMA (XOMA) downgraded to Neutral from Outperform at Credit Suisse.
News For XTEX;DDS;EVBS;ESS;GLP;LAMR;NGL;NSLP;PEI;PAGP;ROC;SBY;SJI;LEAF;SPLS;SMLP;TEP;TIVO;UNT;WHZ;XOMA From The Last 14 Days
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January 26, 2015
16:44 EDTNGLNGL Energy Partners raises distribution to 61.75c per unit from 60.875c
This distribution is payable on February 13 to unit holders of record entitled to receive the distribution at the close of business on February 6.
January 23, 2015
17:15 EDTTEPSalient Capital Advisors reports 6.28% passive stake in Tallgrass Energy
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17:08 EDTNGLSalient Capital Advisors reports 5.74% passive stake in NGL Energy Partners
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16:51 EDTSMLPSalient Capital Advisors reports 9.56% passive stake in Summit Midstream
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January 22, 2015
16:42 EDTSMLPSummit Midstream raises Q4 distribution 3.7% to 56c per unit
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15:59 EDTXOMAFDA approves Prestalia from Symplmed for treatment of hypertension
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14:11 EDTLAMRLamar Advertising announces partnership with Blue Bite
Lamar Advertising announces a new partnership with Blue Bite, which will give advertisers the ability to create measurable mobile campaigns through the use of outdoor media. The partnership will include the integration of Blue Bite's mTAG platform on Lamar's street level media. First being deployed to 440 transit locations throughout the Buffalo, NY area, both companies are working to expand the network footprint to a potential 25,000 mobile touchpoints across the U.S. and Canada.
10:03 EDTESSOn the Fly: Analyst Downgrade Summary
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05:43 EDTESSEssex Property Trust downgraded to Equal Weight from Overweight at Barclays
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January 21, 2015
08:33 EDTGLPGlobal Partners declares increased quarterly dividend of 66.5c per share
Global Partners LP announced that the Board of Directors of its general partner, Global GP LLC, has declared a quarterly cash distribution of 66.5c per unit, or $2.66 per unit on an annualized basis, on all of its outstanding common units for the period from October 1 through December 31, 2014. The distribution will be paid February 13, 2015 to unitholders of record as of the close of business February 4, 2015. The distribution to be paid in February 2015 represents an increase of 1.92% over the quarterly distribution of 65.25c per unit paid in November 2014 and an increase of 8.57% over the quarterly distribution of 61.25c per unit paid in February 2014.
January 20, 2015
16:15 EDTNSLPNew Source Energy sees FY15 oilfield services revenue $120M-$140M
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13:09 EDTSPLSSources: Staples to spurn Starboard's call to merge with Office Depot, FT says
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10:47 EDTSPLSStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTSPLSStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:31 EDTSPLSActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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09:02 EDTEVBSEastern Virginia Bankshares announces partial redemption of Series A preferreds
Eastern Virginia Bankshares announced the partial redemption of an additional 5,000 shares, or 35.7%, of its 14,000 shares of outstanding Series A Preferred Stock that were originally issued to the U.S. Treasury under the Troubled Asset Relief Program Capital Purchase Program. Following completion of the partial redemption, 9,000 shares of Series A Preferred Stock remain outstanding. The redemption price for the shares of Series A Preferred Stock was the stated liquidation preference amount of $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption price of the shares of Series A Preferred Stock redeemed in the Partial Redemption was approximately $5.1M. The Partial Redemption will result in estimated annual savings of $450K, or 2c per fully diluted common share, due to the elimination of payment of dividends on the redeemed shares of Series A Preferred Stock. Following completion of the Partial Redemption, the capital ratios of the Company and EVB continue to exceed regulatory capital standards to be categorized as well-capitalized.
08:59 EDTSPLSStarboard urged Staples to explore Office Depot merger, Bloomberg says
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08:37 EDTGLPGlobal Partners acquires Boston Harbor from Global Petroleum for $23.65M
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