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Stock Market & Financial Investment News

News For RKT;WMB;NXST;HW;LF;BKD From The Last 14 Days
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February 8, 2016
10:37 EDTWMBEnergy Transfer leads MLP rout after CFO change
The shares of Energy Transfer Equity (ETE) are plunging after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, the shares of the Master Limited Partnership, or MLP, and a number of peers were downgraded by research firm Robert W. Baird. Master Limited Partnerships are publicly traded partnerships that receive tax benefits and often own oil assets. WHAT'S NEW: Energy Transfer Equity announced that its CFO, Jamie Welch, would step down from the post. According to the company, Welch's departure was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Welch will be replaced by Thomas Long, who is currently CFO of Energy Transfer Partners, L.L.C., which owns the general partner of Energy Transfer Partners, L.P. (ETP), another MLP. STREET RESEARCH: This morning, Baird analyst Ethan Bellamy downgraded nine MLP stocks, including both Energy Transfer names. The analyst said he would remain bearish on the sector until oil prices and high yield bottom. Bellamy expects the sector to be pressured by a number of related factors, including the bankruptcy of exploration and production companies, fund outflows, and macro economic conditions. In addition to ETE and ETP, the analyst downgraded EnLink Midstream (ENLC), ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings (PAGP) to Underperform and cut Antero Midstream (AM), ONEOK (OKE) and Tallgrass Energy GP (TEGP) to Neutral. Addressing the departure of Energy Transfer Equity's CFO, Wells Fargo said it does not think that the CFO's departure indicates any change to the MLP's pending merger with The Williams Company (WMB). The firm added that it has no knowledge of any accounting issues that prompted the CFO to leave. It continues to believe that Energy Transfer Equity will rise over the longer term and it kept an Outperform rating on that stock. It maintained a Market Perform rating on Williams. PRICE ACTION: In early trading, Energy Transfer Equity sank 26% to $5.20, Williams tumbled 24% to $13.03, Oneok dropped 13.5% to $22.10, Plains All American retreated 9.8% to $18.46 and Tallgrass sank 20% to $11.59.
10:26 EDTWMBOptions with increasing implied volatility
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
09:59 EDTWMBWilliams halted for circuit-breaker after falling 33.6% to $11.37
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07:19 EDTWMBEnergy Transfer, Williams likely to drop on CFO departure, says Wells Fargo
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February 5, 2016
09:19 EDTLFLeapFrog to be acquired by VTech Holdings in transaction valued at approx. $72M
VTech Holdings and LeapFrog Enterprises, a developer of educational entertainment for children, announced that the two companies have entered into a merger agreement whereby VTech will acquire LeapFrog. VTech plans to acquire 100% of the outstanding common stock of LeapFrog through an all cash tender offer followed by a second-step merger. In the tender offer, VTech will offer LeapFrog investors $1.00 per share for LeapFrog's Class A and Class B shares, which represents a 75.4% premium over the closing price of LeapFrog's Class A shares on 4 February 2016. The total purchase consideration amounts to approximately $72M. VTech will fund the tender offer through internal resources. The tender offer is expected to commence on or about March 3, and will be open for a minimum of 20 business days. The closing of the transaction is subject to satisfaction of certain conditions set forth in the merger agreement, which has been unanimously approved by the Boards of Directors of both companies. LeapFrog's Board has agreed to unanimously recommend to its stockholders that they tender their shares of LeapFrog common stock pursuant to the tender offer.
09:18 EDTLFLeapFrog to be acquired by VTech Holdings in transaction valued at approx. $72M
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09:16 EDTLFLeapFrog trading halted, pending news
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07:59 EDTNXSTDistribution deal with Cox a clear positive for Nexstar, says Stephens
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February 4, 2016
17:10 EDTNXSTNexstar and Cox Communications reach distribution agreement for 13 stations
Nexstar reached a new distribution agreement with Cox Communications allowing the cable television provider the right to resume carrying Nexstar's network and local community programming. The agreement covers Nexstar's broadcast platform inclusive of 13 network affiliated and local stations in nine markets. Programming on all stations will resume as soon as possible. Specific terms of the agreement are not being disclosed.
10:10 EDTWMBOptions with decreasing implied volatility
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February 3, 2016
10:54 EDTWMBOptions with decreasing implied volatility
Options with decreasing implied volatility: WMB INVN FTNT NOW SNDK HOG UA CTXS KORS AMZN
08:18 EDTHWHeadwaters positions should be added to at current levels, says Canaccord
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February 2, 2016
07:29 EDTWMBHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "A Legislative Hearing on Eight Energy Infrastructure Bills" with Director Miles of FERC and Timothy Powell of the Williams Company on February 2 at 10 am. Webcast Link
06:04 EDTHWHeadwaters raises FY16 adjusted EBITDA to $180M-$200M
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06:03 EDTHWHeadwaters reports Q1 Building Products revenue $131.8M
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06:03 EDTHWHeadwaters sees FY16 building products margin to ben driven by organic growth
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06:02 EDTHWHeadwaters reports Q1 organic revenue growth of 8%
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06:01 EDTHWHeadwaters reports Q1 adjusted EPS 28c, consensus 15c
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February 1, 2016
10:25 EDTWMBWilliaOptions with increasing implied volatility: WMB ENDP RAD
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January 31, 2016
14:54 EDTNXSTNexstar 'remains eager' to reach agreement after Cox drops programming
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