Month: January 2014

Mergers & Acquisitions

Oando Energy Resources Secures Funding for Acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips

January 31, 2014 0

Oando Energy Resources Secures Funding for Acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips PR Newswire CALGARY, Alberta, February 1, 2014 CALGARY, Alberta , February 1, 2014 /PRNewswire/ — – All $ are US Oando Energy Resources Inc. (” Oando Energy Resources ” or the ” Company “) (TSX: OER), a company focused on oil and gas exploration and production in Nigeria , today announced that, further to its press releases dated December 20, 2012 , September 16, 2013 and November 28, 2014 , it has, subject to, amongst other things, TSX approval, secured funding for the closure of the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) (the ” ConocoPhillips Acquisition “). The Company currently estimates that the net purchase price payable to complete the ConocoPhillips Acquisition will be approximately US$1.05 billion (after deducting payment of the US$450 million deposit previously paid, an additional US$50 million to be paid and giving effect to expected adjustments as of the Outside Date) (” Net Purchase Price “) […]

Stock Analysts

Caterpillar to Repurchase $1.7B Shares

January 31, 2014 0

Shares of Caterpillar Inc. ( CAT ) perked up 2.85% to close at $93.20 on Thursday as the company announced its intention to purchase approximately $1.7 billion of its common stock under an accelerated stock repurchase transaction. With this the company will complete its previous $7.5 billion repurchase authorization […]

Stock Analysts

Management Shuffle at Starbucks

January 31, 2014 0

Coffee giant, Starbucks Corporation ( SBUX ), recently changed its management positions to derive maximum benefits out of the retail, consumer, mobile and digital shifts that are currently underway by leveraging its resources and operations. Starbucks chief financial officer and group president of Global Business Services, Troy Alstead will be promoted to the position of chief operating officer (COO). Scott Maw will be promoted to the position of Global Technology and Global Supply Chain Organizations president and new chief financial officer […]

Stock Analysts

Hess to Divest Utica Acres for $924M

January 31, 2014 0

Oil and gas company Hess Corporation ’s ( HES ) share price dropped 0.7% on the announcement that it has inked an agreement with an undisclosed third party to divest about 74,000 acres of its dry gas acreage in the Utica Shale. The transaction is valued at $924 million. Around two-thirds of the transaction amount is anticipated by the end of the current quarter of the year, while the balance is likely to be received in the third quarter. […]

Stock Analysts

Portfolio Recovery Downgraded to Neutral

January 31, 2014 0

On Jan 30 2014, we downgraded, Portfolio Recovery Associates Inc. ( PRAA ), to Neutral from Outperform owing to lack of potential growth catalysts in the near term. This outsourced receivables management services provider currently carries a Zacks Rank #3 (Hold) […]

Stock Analysts

HCP Hikes Quarterly Dividend

January 31, 2014 0

One of the leading healthcare real estate investment trust’s (REIT) – HCP Inc. ( HCP ) announced a 3.8% hike in its quarterly cash dividend rate. The company will now pay a dividend of 54.5 cents per share compared with 52.5 cents paid in the prior quarter. […]

Stock Analysts

Sunoco Logistics Ups Distribution

January 31, 2014 0

On Jan 29, 2014, energy pipelines and terminals operator, Sunoco Logistics Partners LP ( SXL ), declared that its general partner, Sunoco Partners LLC, raised its fourth-quarter 2013 cash distribution to 66.25 cents per unit ($2.65 per unit annualized). This reflects a hike of approximately 5.0% sequentially and 22.0% year over year. Notably, the latest payout increase of Sunoco Logistics marks the 35th distribution hike. […]

Stock Analysts

Morgan Stanley Vends Debt Servicing Unit

January 31, 2014 0

Morgan Stanley ( MS ) recently completed the divestiture of its European real estate debt servicing arm worth £4.5 billion ($7.4 billion). The servicing unit was acquired by Mount Street, a U.K based firm that provides loan services as well as other loan management solutions to the European commercial real estate (CRE) sector. […]

Stock Analysts

QEP Resources Announces Strategic Moves

January 31, 2014 0

Domestic energy explorer, QEP Resources Inc. ( QEP ) announced a string of strategic initiatives to be undertaken by the company to enhance the value of its business. Among the measures, the board authorized the spin-off of its midstream business, QEP Field Services Company, in addition to the separation of the company’s interest in the master-limited partnership (MLP), QEP Midstream Partners LP ( QEPM ). […]

Stock Analysts

PartnerRe Shares Up on Dividend Hike

January 31, 2014 0

Ahead of its fourth-quarter earnings release, the board of property-casualty and life reinsurer – PartnerRe Ltd. ( PRE ) approved a 5% hike in its regular quarterly dividend payout to 67 cents per share from the prior 64 cents, now shelling out $2.68 per share annually. The raised quarterly dividend will be paid on Feb 28, 2014 to shareholders of record as on Feb 18 […]

Stock Analysts

Regulators Seek Higher Penalty from BofA

January 31, 2014 0

The Federal authorities are now seeking $2.1 billion in penalties from Bank of America Corp. ( BAC ) for the sale of risky residential mortgage-backed securities (RMBS). The RMBS were sold by Countrywide Financial Corp., which was acquired by BofA in 2008, to Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) […]

Stock Analysts

CareFusion Up on Terumo Deal

January 31, 2014 0

CareFusion Corporation ( CFN ) has announced an eight-year agreement with Terumo Corporation to co-brand, market and distribute the latter’s SurFlash line of safety peripheral IV catheters across the U.S. However, the financial terms of the deal have not been disclosed. […]