Thursday, May 16, 4:21 PM
Heckmann (HEK) receives shareholder approval to change its name to Nuverra Environmental Solutions; shares will begin trading on the NYSE under a new NES ticker effective at the market open on May 20.
Thursday, May 9, 9:09 AM
Heckmann (HEK) -6.5% premarket after Global Hunter downgrades shares to Sell and cuts its target price to $2.50 from $3.50 following Q1 misses on the top and bottom lines. The firm says it can't assign a premium multiple any longer to a company that has proven it is in a highly cyclical business with considerable threats.
2 Comments[Energy, Earnings, Quick Ideas, On the Move]
Monday, April 1, 7:14 AM
Heckmann (HEK) settles a shareholder lawsuit surrounding the 2010 acquisition of China Water & Drinks, agreeing to pay plaintiffs attorneys $300K and issue to them 562,320 shares of company stock, while denying all allegations of wrongdoing. (PR)
Monday, March 11, 6:17 PM
More on Heckmann's (HEK) Q4 results: Issues in-line guidance for FY 2013, seeing revenues of $750M-$825M vs. $780M consensus, adjusted EBITDA of $200M-$220M, and capex of $90M-$110M. Expects 2013 activity to ramp up from the 2012 slowdown and early-2013 inclement weather impacted activity. Plans to rename the company Nuverra Environmental Solutions. Shares +10.2% AH.
3 Comments[Commodities, Earnings, On the Move]
Monday, February 11, 9:51 AM
Heckmann (HEK -11.2%) plunges after a downgrade to Underperform from Neutral at Wedbush, which sees weaker than expected earnings based on recent channel checks. "Valuations for the peer group reflect this unfavorable backdrop, and we believe HEK shares are likely to follow suit as earnings and valuation expectations are reduced," the firm says.
6 Comments[Energy, Quick Ideas, On the Move]