Inergy Midstream Prices IPO (NRGY, MS, BAC, JPM)
Inergy Midstream L.P. has indicated its IPO price range as being $19-$21/common unit and will offer 16 million units when the company goes public. It will trade on the NYSE under the symbol ‘NRGM’.…
All Work
Paul Ausick
Shell Strikes Shale Gas in China (RDS-A, PTR, LNG)
Royal Dutch Shell plc (NYSE: RDS-A) has found shale gas in two vertical wells in China that were drilled in conjunction with Shell’s partner, Petrochina Co. Ltd. (NYSE: PTR), a unit of China National…
Clearwire to Offer $300 Million in Stock (CLWR, S, T, VZ, VOD)
Clearwire Corp. (NASDAQ: CLWR) yesterday filed a shelf registration document with the US SEC and nearly simultaneously announced that it planned to offer $300 million in class A common stock in a secondary offering.…
Morning Wire — Futures Mixed on S&P Ratings Warning
Yesterday’s warning on possible Eurozone bond downgrades from S&P has injected more than a little uncertainty into the US futures market this morning. The impact on foreign markets, however, is not uncertain. It’s real…
24/7 Wall St. Closing Bell (AA, CBI, ADSK, CVC, TWC, DG, HITK, CHKR, BTH, PBY, UEC, SFSF, ATHX, TLEO, THC, RECV)
The equity markets opened strong this morning, with the Dow trading in narrow band around 140 points up all morning until about 1:30 in the afternoon. Hopeful economic news from Europe started things going…
U.S. Post Office Will Cut Service, Close Processing Stations
In a more detailed explanation of planned service cuts floated last September, the U.S. Postal Service has now published some details to its cuts in first-class mail delivery and the closure of up to…
Mid-day Movers (SFSF, SAP, KNXA, ARBA, AFFY, GCI)
Just after noon today, we’ve noted some stocks that are flying high. Companies involved in cloud software are getting a particular boost. SuccessFactors Inc. (NASDAQ: SFSF) is up more than 51%, at $39.69, in…
Non-manufacturing Index Grows in November, But More Slowly
The non-manufacturing portion of the US economy, which includes retail sales, mining, and agriculture, continued on its 24-month growth path in November, although more slowly than in October. The index reading for November was…
Gasoline Prices Continue to Fall
The average price for a gallon of gasoline in the US reached $3.29/gallon on Sunday. That’s $0.15/gallon less than a month ago, even though crude oil prices have remained right around $100/barrel. “The deep…
Xbox Live Challenging Cable Supremacy? (MSFT, AAPL, GOOG, CMCSA, TWC, VZ, CVC, SSNLF, LOGI)
Tomorrow’s launch of an upgrade to Xbox Live from Microsoft Corp. (NASDAQ: MSFT) is the latest shot in the battle for control of US TV sets. The Redmond giant isn’t the only high-tech player…
OPEC Going Green
At the triennial World Petroleum Congress in Qatar, a handful of representatives from Middle Eastern OPEC nations have indicated that their countries are beginning to take steps to reduce their own dependence on oil…
Commercial Metals Rejects Icahn Bid (CMC, IEP, LGF, CLX, MENT)
Commercial Metals Corp. (NYSE: CMC) announced this morning that its board of directors had unanimously rejected an unsolicited bid of $15/share ($1.73 billion total) from Carl Icahn and Icahn Enterprises LP (NYSE: IEP). The…
US Futures Higher, Following European Lead
US stock futures are up nearly 1.5% about one and a half hours before markets open this morning. The expectation of positive news from Europe on an agreement that would have the European Central…
Morning Wire – Gold Down, Oil Up on Possible Iran Sanctions
This afternoon’s meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy is viewed as the first step to arriving at a permanent solution to the Eurozone’s financial by the end of this…
Potential Upside for Specialty Retailers (SPLS, OMX, BKS, BID, PETM)
With the focus on holiday shopping, now is a good time to have a look at potential upside gains in specialty retail stocks. We’ve looked at five stocks that we’ve been watching in the…
24/7 Wall St. Closing Bell (LULU, CLF, DPZ, WNR, SINA, GES, BIG, ZUMZ, RY, BNS, YRCWD, WDC, RIMM, THC, JASO)
Stocks got off to a good start this morning following the Labor Department’s report on non-farm payrolls, up slightly less than expected at 120,000 new jobs, and an unexpected drop in US unemployment from…
Verizon Wireless Spends $3.6 Billion for More Spectrum (VZ, VOD, CMCSA, TWC, S)
It’s not everyday that a company gets access to another 259 million customers. But that happened today for Verizon Wireless, the joint venture between Verizon Communications Inc. (NYSE: VZ) and Vodafone plc (NASDAQ: VOD).…
Big Movers This Morning (PEIX, WDC, RBY, RIMM, LOT, EEP)
Several stocks are making big moves this morning on very heavy volume. The big movers include Pacific Ethanol, Inc. (NASDAQ: PEIX), Western Digital Corp. (NYSE: WDC), Rubicon Minerals Corp. (AMEX: RBY), Research in Motion…
Western Digital Re-starts Thai Plant Following Record Floods (WDC, STX, HPQ, DELL)
Disk drive maker Western Digital Corp. (NYSE: WDC) said yesterday that production at one of its plants in Thailand has begun one week ahead of schedule. This development could spell bad news for competitor…
More Pain For Research in Motion: Lower Guidance On Playbook Inventory Charge (RIMM, AAPL, AMZN, GOOG, SSNLF, BBY, WMT)
Smartphone pioneer Research in Motion Ltd. (NASDAQ: RIMM) has lowered its third-quarter guidance and said that it will take a “predominantly” non-cash charge of $485 million on its existing inventory of the company’s PlayBook…