Articles written by: Barb Flanagan

Blackstone Group Sends Sternly Worded Letter to Investa

Blackstone Group Sends Sternly Worded Letter to Investa

US private equity giant Blackstone (BX) on Wednesday said in a sternly worded letter that a competing bid for Australian office real estate investor Investa Office Fund was not superior and that it reserves the right to cancel its bid should the company back out of a planned acquisition. Blackstone had originally offered $5.25 a share for the Australian company, […]

Commodities Face Uncertainty Amid Oil Availability, Strengthening Dollar, Trade Disputes, Desjardins Says

Commodities Face Uncertainty Amid Oil Availability, Strengthening Dollar, Trade Disputes, Desjardins Says

Commodity prices are in a bit of a tug of war right now amid uncertainty about oil availability, a strengthening dollar and ongoing trade disputes between the US and several countries, all of which need to be watched closely for signs of price direction, Desjardins analysts said in a note to clients on Thursday. West Texas Intermediate oil futures are […]

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Tesla (TSLA) Chief Executive Elon Musk tweeted on Tuesday that he is considering taking the company private at $420 a share, a 22% premium to its closing price the day before, and given his demeanor it seems there may be “significant” funding already lined up, RBC Capital Markets said in a note to clients. “Elon’s tone and messaging regarding a […]

Tyson Foods’ Price Target From RBC Cut to $77

Tyson Foods’ Price Target From RBC Cut to $77

Tyson Foods (TSN) received a price-target reduction Tuesday from RBC Capital Markets, which cited greater-than-anticipated softness in chicken demand as the firm reduced its earnings estimates for the food company known for its namesake, Jimmy Dean and Hillshire Farm brands. The cut comes a day after Tyson Foods reported fiscal Q3 adjusted earnings per share above analysts’ expectations but its […]

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health (CAH) received a price-target reduction from RBC Capital Markets after the health-care services and products company reported fiscal Q4 results above analysts’ expectations Monday but the midpoint of its guidance range for fiscal 2019 adjusted earnings per share missed analysts’ mean estimate. The new price target from RBC is $56 per share, down from $61. The stock closed […]

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy (KOS) said Monday it will acquire Deep Gulf Energy, a deepwater firm operating in the Gulf of Mexico, for $1.225 billion. The company said the acquisition will add to its deepwater Atlantic Margin portfolio and will be immediately accretive. The deal will enhance the scale of the company and is expected to generate “significant” free cash flow that […]