* Afren enjoyed a successful year in 2013, ramping up Ebok and capping the year off with the Ogo discovery
* Kurdistan has been an early investment for Afren, and this asset could be sold and unlock value for shareholder, if no deal the stock should trade at least in line with the market
* Stock is trading with a decent discount to NPV
* 135 levels is a strong support and stock should hold these levels
* Stosk has been weak on the last few weeks and start to stabilize
* 2 brokers issued +ve recommendaation on the last 2 days (BMO & Investec)
* I see limited downside (132 level - 5% from here ) and see the stoc testing back the 145 & 149 levels.
as rumors were around on TLW stating Sinopec & Statoil could be interested, any news in the sector will push the stock higher.
--> Buy Afren
Smiths Group : Detection Unit receives $10.2 million order from a Department of Homeland Security (DHS) office for its next-generation, self-calibrating radiation detection system, RadSeeker.
*VALLOUREC RAISED TO BUY VS NEUTRAL AT GOLDMAN SACHS
*AKER SOLUTIONS ADDED TO CONVICTION BUY LIST AT GOLDMAN
*TGS NOPEC ADDED TO CONVICTION SELL LIST AT GOLDMAN
*PETROFAC CUT TO NEUTRAL VS BUY AT GOLDMAN
*JOHN WOOD REMOVED FROM CONVICTION BUY AT GOLDMAN; STIL BUY
Morgans Hotel Group Sends Letter To Stockholders And Files Definitive Proxy Materials
- Announced it has filed definitive proxy materials with the Securities and Exchange Commission ("SEC") in connection with its 2014 Annual Meeting of Stockholders ("Annual Meeting"), which will be held on May 14, 2014. Morgans stockholders of record at the close of business on April 2, 2014, are eligible to vote their shares at the Annual Meeting.
- The Morgans' Board of Directors also sent a letter today to stockholders highlighting the significant progress underway at the Company and the value this Board is responsible for creating since being elected to replace the Company's prior board at the 2013 annual meeting. The letter also urges stockholders to vote "FOR" the Company's nine highly qualified, experienced nominees. Letter excerpts
- We ask for your ongoing support so that Morgans' Board and management can continue to execute on the transformation underway to improve our financial position and operate the Company effectively and efficiently. These steps, and these steps alone, are what will allow the Board to explore all avenues of value creation from a position of strength and flexibility.
- We believe the Company's stockholders will agree that Kerrisdale's slate is neither incentivized to act in their best interest nor capable of achieving the greatest value for their investment. - MORGANS' BOARD IS EXECUTING ON ITS STRATEGY, RESTORING PERFORMANCE AND ACTIVELY ADDRESSING THE DESTRUCTIVE LEGACY OF THE COMPANY'S PRIOR LEADERSHIP
- Morgans is not even one of Kerrisdale's top ten investments. It seems clear to us, as it should to all stockholders, that Kerrisdale's motivations are driven by a desire for attention and publicity, rather than by purely economic motivations.
- VOTE THE WHITE CARD TODAY TO SUPPORT CONTINUED VALUE CREATION AT MORGANS
SodaStream International Spokesperson: "We do not comment on rumors and speculation"
**NOTE: earlier: there is speculation that the firm is in talks to sell an up to 16% stake - Calcalist
Fed's Lockhart says have not seen a firming in inflation; Q1 softness due to weather; sees pent up demand; sees pick up in GDP
Gapping down
In reaction to disappointing earnings/guidance: ASML -5.7%, CS -3%, LLTC -1.9%, BAC -0.9% (and despite Barron's profiling positive view on Bank of America), INTC -0.1%, (also downgraded to Neutral from Buy at B. Riley & Co).
Metals/mining stocks trading lower: HMY -1.9%, AU -1.3%, ABX -0.5%, SLV -0.5%, GDX -0.5%, GLD -0.2%.
Other news: CRDC -9.6% ( priced an underwritten public offering of ~32.5 mln shares of its common stock, offered at a price to the public of $0.85/share), ATHL -1.2% (announces 11 mln share public offering of common stock, launches proposed $500 mln senior notes offering; announced first quarter 2014 production), HSBC -0.4% (following CS results).
Analyst comments: NTAP -1.3% (downgraded to Neutral from Buy at UBS), UNH -0.5% (downgraded to Neutral from Buy at Citigroup)
Metals/mining stocks trading lower: HMY -1.9%, AU -1.3%, ABX -0.5%, SLV -0.5%, GDX -0.5%, GLD -0.2%.
Other news: CRDC -9.6% ( priced an underwritten public offering of ~32.5 mln shares of its common stock, offered at a price to the public of $0.85/share), ATHL -1.2% (announces 11 mln share public offering of common stock, launches proposed $500 mln senior notes offering; announced first quarter 2014 production), HSBC -0.4% (following CS results).
Analyst comments: NTAP -1.3% (downgraded to Neutral from Buy at UBS), UNH -0.5% (downgraded to Neutral from Buy at Citigroup)
Johnson Controls to acquire Air Distribution Technologies for $1.6 billion; expected to close by the end of July
Co announced it has reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business, one of the strongest and largest independent providers of air distribution and ventilation products in North America, for approximately $1.6 billion.