Linn Energy (LINE -0.8%) is downgraded to Reduce from Neutral with a $34 price target (from $38) at Global Hunter after disappointing Q1 results. The firm is cautious given the reduced guidance, high decline rates, move away from the Hogshooter and general inability to drive growth in DCFPU despite massive development spending and acquisitions. [View news story]
Penn Virginia (PVA) says it will buy all of Magnum Hunter Resources' (MHR) Eagle Ford Shale properties for $401M in a deal slated to close by mid-May. The purchase will add the equivalent of over 3.2M barrels of oil production a day for the company. [View news story]
JPMorgan (JPM -1.8%) drags on the Dow (now down just 30 points) as the Feds are investigating whether the bank was more or less complicit with Bernie Madoff. Meanwhile, Madoff pens a letter from the clink saying banks he dealt with had to have known about his Ponzi scheme. The NYT adds it up and finds 8 federal agencies are investigating the Bank of Dimon. [View news story]
Energy trusts suffer another shellacking after RBC Capital issues downgrades and target price reductions for SandRidge Permian Trust (PER -6.6%), due to reduced production visibility and increased risk profiles following below-expected Q4 distributions, and SandRidge Mississippian Trust I (SDT -5.5%) and II (SDR -1.6%), as increasing risk meets additional production concerns. [View news story]
Looks to me like a pattern. All SD trusts have been downgraded. I do not think anyone sane will buy another SD trust. Just another source of funds that will be cut off from Tom Ward. SELL.
Magnum Hunter Resources Announces Pricing of Public Offering of Depositary Shares Representing 8% Series E Cumulative Convertible Preferred Stock [View article]
Magnum Hunter Resources Announces Pricing of Public Offering of Depositary Shares Representing 8% Series E Cumulative Convertible Preferred Stock [View article]
More on Ford (F): Automotive sector revenue slipped 0.9% Y/Y to $30.2B, while operating margin improved 150 bps to 6.3% as higher net pricing kicked in. Total company production during quarter was 1.4M units, up about 24K units from a year ago but below its prior guidance due to parts supply issues. In Q4, total production forecast to be 1.5M units. (PR) [View news story]
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
it is not cleaned up. clean up the mess and move on.
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
pay it and move on... you think BP should not pay?.
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
Angie's List (ANGI +6.1%) pops following an upgrade to Outperform from Oppenheimer. The firm notes shares had fallen 32% since a lockup expiration ended on Aug. 14, estimates Angie's sales can grow at a 50% annual clip from 2011-14, and notes shares are trading at just 2x EV/sales, while peers trade at much higher multiples. (Barrington) [View news story]
Linn Energy (LINE -0.8%) is downgraded to Reduce from Neutral with a $34 price target (from $38) at Global Hunter after disappointing Q1 results. The firm is cautious given the reduced guidance, high decline rates, move away from the Hogshooter and general inability to drive growth in DCFPU despite massive development spending and acquisitions. [View news story]
Penn Virginia (PVA) says it will buy all of Magnum Hunter Resources' (MHR) Eagle Ford Shale properties for $401M in a deal slated to close by mid-May. The purchase will add the equivalent of over 3.2M barrels of oil production a day for the company. [View news story]
JPMorgan (JPM -1.8%) drags on the Dow (now down just 30 points) as the Feds are investigating whether the bank was more or less complicit with Bernie Madoff. Meanwhile, Madoff pens a letter from the clink saying banks he dealt with had to have known about his Ponzi scheme. The NYT adds it up and finds 8 federal agencies are investigating the Bank of Dimon. [View news story]
Energy trusts suffer another shellacking after RBC Capital issues downgrades and target price reductions for SandRidge Permian Trust (PER -6.6%), due to reduced production visibility and increased risk profiles following below-expected Q4 distributions, and SandRidge Mississippian Trust I (SDT -5.5%) and II (SDR -1.6%), as increasing risk meets additional production concerns. [View news story]
Magnum Hunter Resources Announces Pricing of Public Offering of Depositary Shares Representing 8% Series E Cumulative Convertible Preferred Stock [View article]
Magnum Hunter Resources Announces Pricing of Public Offering of Depositary Shares Representing 8% Series E Cumulative Convertible Preferred Stock [View article]
CYS Investments, Inc. Announces $250M Stock Repurchase Program [View article]
More on Ford (F): Automotive sector revenue slipped 0.9% Y/Y to $30.2B, while operating margin improved 150 bps to 6.3% as higher net pricing kicked in. Total company production during quarter was 1.4M units, up about 24K units from a year ago but below its prior guidance due to parts supply issues. In Q4, total production forecast to be 1.5M units. (PR) [View news story]
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
The U.S. Supreme Court denies a bid by Chevron (CVX) to block an $18.2B judgment against the company in a long-running pollution case in Ecuador. A lower court threw out an injunction blocking enforcement of the judgment; CVX then appealed to the Supreme Court, which rejects the appeal without explanation. [View news story]
6% Dividend Stock With Anticipated Dividend Increases [View article]
Angie's List (ANGI +6.1%) pops following an upgrade to Outperform from Oppenheimer. The firm notes shares had fallen 32% since a lockup expiration ended on Aug. 14, estimates Angie's sales can grow at a 50% annual clip from 2011-14, and notes shares are trading at just 2x EV/sales, while peers trade at much higher multiples. (Barrington) [View news story]
10.20% Proven Oil Dividend Yield For Retirees [View article]
10.20% Proven Oil Dividend Yield For Retirees [View article]