WSJ : Halliburton in Talks to Buy Baker Hughes

Halliburton Co. is in talks to buy Baker Hughes Inc., according to people familiar with the matter.

Talks between the two oil-field-services companies are moving quickly, and they could reach an agreement soon, said two of the people.

The price being discussed couldn't be learned, but a deal for Baker Hughes would likely come at a premium to the Houston company’s market capitalization, which was $21.6 billion as of Thursday afternoon. Halliburton had a market value of $45.2 billion.

A deal of this size would be one of the largest energy deals in recent years and comes at a time when the industry is grappling with a sharp decline in oil prices.

Baker Hughes was formed in 1987 when Baker International and Hughes Tools Co. came together. The company has more than 60,000 employees, according to its website.

Oil-field services companies help energy producers find and extract hydrocarbons. They have had to deal with a glut of natural-gas supply in recent years that caused oil prices to plunge and pushed energy companies to shift operations to oil-rich shale, which is harder to tap.

WSJ : Hedge Fund Lonestar Capital to Shut Down

Hedge Fund Lonestar Capital to Shut Down
Founder Jerome Simon to Manage Own Family Office

The San Francisco hedge-fund firm Lonestar Capital Management LLC will shut down in one of the larger hedge-fund liquidations this year, according to people familiar with the firm.

Based in San Francisco, Lonestar manages about $1 billion, including funds from deep-pocketed investors like David Einhorn ’s Greenlight Capital Inc., the people said.

In a letter to investors, founder Jerome Simon called it a “bittersweet moment” and said he was disappointed that recently he could not “claim the very highest ground of perennial outperformance,” according to a person with knowledge of the letter. Its main fund was down more than 2% this year through the end of October, compared with a 1.6% gain for its peer event-driven hedge funds tracked by HFR Inc.

Mr. Simon will manage his own fortune in a so-called family office once the shutdown is complete, in mid 2015.

>>> UPS also sees FY15 rev growth of +5-6% (Capital IQ consensus calls for +5

UPS also sees FY15 rev growth of +5-6% (Capital IQ consensus calls for +5.3% growth over FY14 ests); issues downside FY15 EPS guidance (as mentioned at 13:29); reaffirms FY14 EPS guidance  
  • The company's long-term financial goals for 2015 to 2019 are: 
    • Revenue growth of 5% to 7% average annual rate Earnings per share up 9% to 13% per year 
    • Return on invested capital between 25% and 30% Share repurchases of more than $15 billion and total shareowner distributions totaling $30 billion. 
    • Co also sees Share repurchases of $2.7 billion.
  • Co reaffirmed FY14 guidance of $4.90-5.00 vs $4.96 Capital IQ consensus. In addition, UPS disclosed plans to make in Q4 2014 a $1 billion accelerated pension contribution to its company-sponsored pension plans.
  • As mentioned earlier, Co issues downside guidance for FY15 (Dec), sees EPS of $5.45-5.70 vs. $5.71 Capital IQ Consensus Estimate; sees FY15 rev growth of +5-6% (Capital IQ consensus calls for +5.3% growth over FY14 ests)
  • Kuehn outlined plans for capital investments of 4.5% to 5% of revenue annually for 2015 to 2019.  The company plans to invest approximately $2 billion over the next five years to expand its international infrastructure in Europe, Asia and the Americas.

>>> Fed's Plosser: Generally in favor of recommendations from Mester on the 'dot

Fed's Plosser: Generally in favor of recommendations from Mester on the 'dots plot' of forecasts; inflation will always fluctuate and the Fed must see through short term movements 
- Additional QE would not solve inflation issues
- Gas prices expected to drive even lower inflation in the short term

- Reminder: Mester, in her comments last week indicated that dots should have more information, including the full range of forecasts from a specific policymaker without identifying the policymaker by name. Should also adjust the dots (summary of economic projections, SEPs) with the range of uncertainty about the prediction. Also should highlight the 'consensus view' in comparison to outlying views.

(BFW) Club Med Says Global Resorts Buys 1.06 Mln Shares at EU23 Each

BN 11/13 16:30 *CLUB MED: GLOBAL RESORTS, PARTNERS OWN 18.9% OF CO. CAPITAL
BN 11/13 16:28 *CLUB MED: GLOBAL RESORTS BUYS 1.06 MLN SHARES AT EU23 EACH
BN 11/13 16:28 *CLUB MED: GLOBAL RESORTS BUYS 1.06 MLN SHARES
Club Med Says Global Resorts Buys 1.06 Mln Shares at EU23 Each
2014-11-13 16:34:39.353 GMT


By Andrea Snyder
Nov. 13 (Bloomberg) -- Global Resorts, partners Own 18.9%,
Club Med says.

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Link to Company News:{CU FP <Equity> CN <GO>}

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(BFW) Carlisle Goldfields Reviewing Nordgold’s Request on Bid

Carlisle Goldfields Reviewing Nordgold’s Request on Bid
2014-11-13 18:51:41.792 GMT


By Aoyon Ashraf
Nov. 13 (Bloomberg) -- Carlisle Goldfields reviewing
Nordgold’s request for consent to make offer to shareholders of
CGJ CN.
* Says Nordgold’s request may violate terms of agreement
between cos.
* Says it received initial payment C$5m from AuRico pact
* CGJ CN to resume trading 2:15pm
* NOTE: Earlier, Nordgold Requests Carlisle Goldfields for
Consent to Get Offer NSN NEZDSH6K50YI <GO>
* NOTE: Nov. 11, AUQ CN buys 25% stake in Lynn Lake for C$5m
NSN NEVMU63PWT1E <GO>
Link to Statement:NSN NEZQKU3PWT1C <GO>
Link to Company News:CGJ CN <Equity> CN <GO>
Link to Company News:NORD LI <Equity> CN <GO>
Link to Company News:AUQ CN <Equity> CN <GO>

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To contact the editor responsible for this story:
Aoyon Ashraf at +1-416-203-5713 or
aashraf7@bloomberg.net