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Southern Union favors 1st bid
Tuesday, June 28, 2011 - 6:18pm | 74Southern Union (SUG), a pipeline operator and the target of a $4.9 bil takeover bid from Williams Cos. (WMB), said it planned to discuss the proposal with Williams, but still favored an earlier $4.1 bil bid from Energy Transfer Equity (ETE). Southern said in a regulatory filing that failing to talk...
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My Top 16 Big-Cap Stock Plays
Tuesday, June 28, 2011 - 3:40pm | 246Here is my list of top defensive plays in this highly volatile market. If you're looking for some nice defensive stocks to go along with the rest of your long positions in the portfolio, then take a look at the list of stocks below that are more defensive than growth oriented. They are stocks that...
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My Top 16 Big-Cap Stock Plays
Tuesday, June 28, 2011 - 3:40pm | 245Here is my list of top defensive plays in this highly volatile market. If you're looking for some nice defensive stocks to go along with the rest of your long positions in the portfolio, then take a look at the list of stocks below that are more defensive than growth oriented. They are stocks that...
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Goldman Sachs Reiterates Buy Rating On MeadWestvaco
Tuesday, June 28, 2011 - 8:51am | 132According to Goldman Sachs, MeadWestvaco (NYSE: MWV) announced that it will invest $285 mn to build a new biomass boiler and upgrade associated power infrastructure at its Covington, VA, mill. Goldman Sachs said that the Covington mill produces about 800,000 tons of solid bleached sulfate (SBS)...
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Benzingas Top Upgrades
Tuesday, June 28, 2011 - 8:04am | 142Analysts at Robert W. Baird upgraded Anixter International Inc (NYSE: AXE) from “neutral” to “outperform.” AXE's shares closed at $61.18 yesterday. Anixter's PEG ratio is 0.75. Analysts at FBR Capital upgraded EastGroup Properties Inc (NYSE: EGP) from “underperform” to “outperform.” EGP's shares...
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Dominion Virginia Power Seeks SCC Approval to Convert Coal Stations to Biomass
Tuesday, June 28, 2011 - 8:02am | 42Dominion Virginia Power, a subsidiary of Dominion (NYSE: D), Monday asked the Virginia State Corporation Commission for approval to convert three Virginia electricity-generating power stations from using coal to biomass, a renewable energy source.
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Deutsche Bank Updates 6/28
Tuesday, June 28, 2011 - 7:38am | 451Deutsche Bank made a number of updates in a research report published today. Flowers Foods (NYSE: FLO) had its rating reinstated at Hold. At the same time, its price target was reduced from $25 to $20. On Monday, Flowers added 0.25% to its value to end the day at $21.74. Medicis Pharmaceutical (...
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Bank of America Removes Constellation Energy Group Investment Opinion
Tuesday, June 28, 2011 - 7:37am | 63In light of the Exelon (NYSE: EXC) and Constellation Energy Group (NYSE: CEG) merger, Bank of America has removed its investment opinion on CEG. “Investors should no longer rely on our previous opinions or price objectives,” Bank of America wrote. Constellation closed Monday at $37.46; Exelon...
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Jefferies Upgrades NRG Energy To Buy, Raises PT To $27
Tuesday, June 28, 2011 - 6:27am | 28Jefferies & Company has upgraded NRG Energy (NYSE: NRG) from Hold to Buy and has raised the price target from $26 to $27 .
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Williams Fights Energy Transfer Equity For Southern Union
Monday, June 27, 2011 - 10:59pm | 220Energy Transfer Equity's (ETE) bid for Southern Union (SUG) should have been a done deal when it was announced. Some acquisition targets are just too juicy to ignore. Now Williams (WMB) is jumping into the fray with an all-cash $39/share bid for SUG. Merger fights make life interesting. The...
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MDU Resources
Monday, June 27, 2011 - 6:47pm | 25MDU Resources (MDU) sees oil production rising 1%-5% this year, down from a 5%-10% forecast. It sees 2011 EPS of $1.05-$1.30 vs. views for $1.32. Shares rose 0.2%.
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Progress Energy Provides Update on Crystal River Nuclear Plant Outage; Believes Unit Will Return to Service in 2014
Monday, June 27, 2011 - 4:21pm | 107Progress Energy (NYSE: PGN) Florida has provided an update to the Nuclear Regulatory Commission and the Florida Public Service Commission regarding the status of its Crystal River Nuclear Plant. Based on an initial review, the company believes that repairing the unit is the best option, and is...
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Options Brief: Calpine Corporation
Monday, June 27, 2011 - 10:46am | 77Shares of Calpine Corporation (NYSE: CPN) are lower on the session by 0.13%, trading at $15.70. Overall put volume is now running at 2.10x the daily average, with 56% of all puts traded being purchases on the offer. 1,532 contracts have traded on the session so far. Calpine Corporation is an...
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Shareholders Foundation Announces Southern Union Company Investor Lawsuit Against Merger
Monday, June 27, 2011 - 9:37am | 326The Shareholders Foundation, Inc. announces that a lawsuit has been filed in State Court on behalf of current investors in the Southern Union Company (NYSE: SUG) against directors of Southern Union over alleged breaches of fiduciary duties arising out of the attempt to sell the Southern Union too...
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MDU Resources Announces Bakken Leaseholds Acquisition
Monday, June 27, 2011 - 8:34am | 95MDU Resources Group, Inc. (NYSE: MDU) today announced the acquisition of 20,000 additional acres of leaseholds in the Bakken oil play. The new leaseholds are in Richland County, Montana. The company now holds a total of approximately 90,000 net acres of leaseholds in the Bakken. The company also...