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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:05 EDTROC, NSLP, GLP, DDS, UNT, SMLP, SJI, PAGP, NGL, ESS, XTEX, XOMA, TIVO, SPLS, SBY, PEI, LAMR, EVBS, WHZ, TEP, LEAFOn 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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February 25, 2015
06:14 EDTLAMRLamar Advertising reports Q4 EPS $2.18, adjusted FFO $1.23
Reports Q4 revenue $336.7M, consensus $325.83M.
February 24, 2015
09:05 EDTTEPTallgrass Energy 10M share Spot Secondary priced at $50.82
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07:35 EDTUNTUnit Corp. cuts operating segment CapEx budget for 2015 by 52%
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07:34 EDTUNTUnit Corp. reports Q4 adjusted EPS 80c, consensus 82c
Reports Q4 revenue $378.6M, consensus $393.33M. Total equivalent production for the quarter was 4.9 million barrels of oil equivalent, an increase of 10% and 6% over the fourth quarter of 2013 and the third quarter of 2014, respectively. Liquids production represented 47% of total equivalent production for the quarter. Oil production for the quarter was 11,340 barrels per day, an increase of 17% over the fourth quarter of 2013 and essentially unchanged from the third quarter of 2014. NGLs production for the quarter was 13,616 barrels per day, an increase of 8% over the fourth quarter of 2013 and an increase of 9% over the third quarter of 2014. Natural gas production for the quarter was 167,721 thousand cubic feet (Mcf) per day, an increase of 8% over the fourth quarter of 2013 and a 6% increase over the third quarter of 2014. Total production for 2014 was 18.3 MMBoe.
07:31 EDTXOMARBC Capital to hold a conference
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06:52 EDTSPLSOffice Depot says acquisition by Staples to close by end of 2015
February 23, 2015
18:02 EDTDDSOn The Fly: After Hours Movers
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16:16 EDTTEPTallgrass Energy files to sell 10M common units representing limited partners
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16:10 EDTDDSDillard's plans to open three new stores in FY15
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16:09 EDTDDSDillard's reports Q4 EPS $3.17, consensus $3.18
Reports Q4 revenue $2.18B, consensus $2.08B. Reports a 3% increase in comparable store sales and a 103 basis point improvement in retail gross margin.
February 20, 2015
16:20 EDTLEAFOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory with time running out for Greece to reach an extension of its bailout agreement. The morning was filled with headlines from both Greek and eurozone finance leaders, many of which indicated that prospects for a deal looked grim. When reports surfaced that an agreement on an extension had been reached the Dow took off and hit its first new high of 2015. The S&P 500 followed to its own new high and the Nasdaq continued to close in on the 5,000 level. ECONOMIC EVENTS: In the U.S., Markit's flash PMI rose to 54.3 in February, versus the consensus forecast for a preliminary reading of 53.6 for the month. In Europe, the Eurogroup and Greece reached a tentative deal for an extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months. The deal is predicated on Greek authorities presenting a first list of reform measures, based on the current arrangement, by the end of Monday. Also, the Eurozone flash composite PMI came in at 53.5, versus expectations for a reading of 53. The services PMI was better than expected, while the manufacturing PMI was lower than expected. COMPANY NEWS: Deere reported Q1 earnings per share of $1.12 and revenue of $6.38B, which beat consensus forecasts of 84c and $5.59B, respectively. However, Deere said company equipment sales are projected to decrease about 17% for fiscal 2015 and now sees net income to be about $1.8B, which is down from the company's prior net income outlook of $1.9B. Analysts at Wells Fargo calculate that the implied EPS guidance from Deere dropped to $5.25 from $5.50. Consensus for FY15 EPS prior to Deere's report was $5.51. Shares of the farm, construction and forestry equipment maker rose 72c, or 0.79%, to $92.43 following this morning's report. MAJOR MOVERS: Among the notable gainers was National Bank of Greece (NBG), whose shares trading in New York jumped 35c, or 21.74%, to $1.96 after the Greek aid extension deal was negotiated. Also higher was Springleaf (LEAF), which gained $4.40, or 12.88%, to $38.57 after Reuters reported that the company has beaten out rival bidders and is in advanced talks to buy consumer finance unit OneMain Financial from Citigroup (C) for more than $4B. Two stock that dropped after their earnings reports prompted multiple analyst downgrades were Noodles & Company (NDLS), which plunged $8.84, or 31.87%, to $18.90, and Rocket Fuel (FUEL), which fell $3.95, or 26.74%, to $10.82. INDEXES: The Dow rose 154.67, or 0.86%, to 18,140.44, the Nasdaq gained 31.27, or 0.63%, to 4,955.97, and the S&P 500 advanced 12.85, or 0.61%, to 2,110.30.
15:05 EDTLEAFSpringleaf in lead to buy OneMain for over $4B, Reuters says
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14:18 EDTLEAFSpringleaf in advanced talks to buy OneMain from Citi for over $4B, Reuter says
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07:20 EDTSPLSWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
February 19, 2015
16:20 EDTTEPTallgrass Energy sees FY15 adjusted EBITDA $205M-$225M
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16:18 EDTTEPTallgrass Energy reports Q4 EPS 45c, consensus 42c
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07:31 EDTUNTEnerCom to hold a conference
The Oil & Services Conference (TOSC) 2015 is being held in San Francisco on February 18-19 with webcasted company presentations to begin on February 19 at 11 am; not all company presentations may be webcasted. Webcast Link
February 18, 2015
09:07 EDTSBYSilver Bay Realty to acquire The American Home portfolio for $263M
Silver Bay Realty Trust announced that it has entered into a definitive agreement to acquire a portfolio of properties owned and operated by The American Home for approximately $263M in cash. The Portfolio consists of approximately 2,460 homes primarily located in Atlanta, Charlotte, Tampa and Orlando. The leased portion of the portfolio exceeds 90% with average existing rents of approximately $960 per month and the purchase price per square foot of the portfolio is approximately $66. The purchase is estimated to be immediately accretive to Silver Bay’s Funds from Operations and Estimated Net Asset Value. In conjunction with the transaction, Silver Bay executed an amendment to its credit facility that increases its borrowing capacity to $400M. The company intends to utilize the credit facility to fund the transaction. The transaction remains subject to the satisfaction of conditions to close and is targeted to close in approximately 45-60 days.
February 17, 2015
16:42 EDTPEIPennsylvania REIT see FY15 adj. FFO $1.87-$1.92, consensus $2.05
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16:38 EDTPEIPennsylvania REIT reports Q4 adj FFO 61c, consensus 59c
Reports Q4 revenue $111.35M, consensus $74.20M.
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