Posts Tagged ‘buzz stocks’

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El Paso Corp. (EP) perks on higher earnings outlook

Tuesday, May 24th, 2011

El Paso Corp. (NYSE: EP) shares climbed 7.2% to $20.35 Tuesday, after the natural-gas producer and pipeline operator hiked its 2011 earnings forecast and announced plans to split into two publicly traded companies. Volume for the stock was 27.9 million shares, dwarfing an all-day average of 10.4 million.

El Paso Corporation announced today that it is raising its financial and operational guidance for 2011 as results to date have exceeded expectations. Among the highlights: $1.00-$1.10 adjusted diluted earnings per share (Adjusted EPS); $2.3-$2.5 billion Adjusted Segment Earnings Before Interest and Taxes; $3.4-$3.6 billion Adjusted Segment Earnings Before Interest, Taxes and Depreciation, Depletion and Amortization (Adjusted Segment EBITDA) and; $2.2-$2.4 billion cash flow from operations.

El Paso CEO Doug Foshee, commented, “El Paso is on its way to another great year with improved earnings and operating cash flow. We are particularly excited about our drilling results in the Eagle Ford shale, where our oil production will grow significantly this year. We are also very pleased with the pace of dropdowns to El Paso Pipeline Partners, L.P. (NYSE: EPB). Our MLP has already issued more equity than we anticipated for all of 2011, and we will continue to accelerate our balance sheet improvement with the proceeds from future transactions.”

Moreover, El Paso announced today that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011.

Following the completion of the proposed spinoff, El Paso Corporation will be comprised of El Paso’s Pipeline Group, its Midstream Group, and its general and limited partner interests in El Paso Pipeline Partners, L.P. It will be the premier pipeline company in North America, uniquely integrated in the major U.S. supply and market regions. With a planned 2012 annual dividend of $0.60 per share and a targeted low double-digit dividend growth rate, it is positioned to be a very attractive corporate yield investment.

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LinkedIn Corp. (LNKD) rings the bell, gains more than 30 percent

Thursday, May 19th, 2011

LinkedIn Corp. (NYSE: LNKD) shares more zoomed 34.6% to $101.93 as the professional-networking site made its market debut. Shares of the new issue totaled nearly 26.5 million.

LinkedIn Corporation, the world’s largest professional network with more than 100 million members worldwide, opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol “LNKD” after its initial public offering in which it raised $352.8 million in gross proceeds. LinkedIn CEO Jeff Weiner, joined by members of the company’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.

“Becoming a publicly traded company on the NYSE is another significant step toward LinkedIn’s goal of connecting the world’s professionals to make them more productive and successful.” Weiner noted afterwards.

LinkedIn is the world’s largest professional network on the Internet, whose member base currently includes executives from every Fortune 500 company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.

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Silver Bull Resources Inc. (SVBL) leaps on outside investment

Wednesday, May 18th, 2011

Silver Bull Resources Inc. (Amex: SVBL) shares rocketed higher 10.3% to 75 cents after announcing that Coeur d’Alene Mines Corporation (NYSE: CDE) has executed a term sheet to make a $5-million U.S. investment in Silver Bull. Volume for Silver Bull was 172,100 shares, compared to an all-day average 675,232.

Coeur d’Alene intends to purchase 7,352,941 shares of Silver Bull common stock at $0.68 per share in a private placement transaction. Closing of the transaction is subject to the execution of a definitive agreement, and approval of the NYSE Amex Stock Exchange and the Toronto Stock Exchange.

Silver Bull Tim Barry said, “We are extremely pleased to have a company with the reputation and stature of Coeur d’Alene invest in Silver Bull and this financing will allow us to complete our planned 2011 exploration program at Sierra Mojada.

“We feel this investment is a solid endorsement of the work we have completed to date, and of the potential at the Sierra Mojada project.”

Based in Vancouver, British Columbia, Silver Bull is focused on the acquisition, exploration and potential development of mineral properties. Silver Bull currently owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds exploration licenses in Gabon, Africa.

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Takeover target Primedia Inc. (PRM) climbs Monday

Monday, May 16th, 2011

Primedia Inc. (NYSE: PRM) shares surged 60.2% to $7.01, after the provider of rental and other consumer directories said it would be acquired for $7.10 a share, or about $525 million, by affiliates of TPG Capital. Volume for the stock Monday morning was 2.7 million shares, dwarfing an all-day average of just over 60,000.

Under the terms of the agreement, holders of the outstanding common shares of PRIMEDIA will receive $7.10 per share in cash, representing a transaction enterprise value of approximately $525 million. The agreement was unanimously approved by the Board of Directors of PRIMEDIA and the independent directors of the Board.

Primedia CEO Charles Stubbs, said, “I am pleased to announce this agreement as it delivers significant value to our shareholders. In addition, it is a clear endorsement of PRIMEDIA and of the hard work and commitment of each and every one of our employees.

“TPG is a premier private investment firm,” Stubbs added, “and has a strong understanding and appreciation for our marketplace, our business model, our business strategies and the potential opportunities that lie ahead. We are very excited about this transaction.”

Primedia helps millions of consumers nationwide find apartments, houses for rent or new homes for sale through its innovative Internet, mobile and print solutions.

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Dynavox Inc. (DVOX) shares take flight on Q3 numbers

Thursday, May 12th, 2011

Dynavox Inc. (Nasdaq: DVOX) shares climbed 38% to $8.35 after the maker of education and communication products for those with learning disabilities reported late Wednesday third-quarter results that beat expectations. Volume for the stock was 1.1 million shares, towering over a daily average of less than 60,000.

For the third quarter ended April 1, 2011, net sales were $28.7 million, an increase of 1.0% compared to net sales of $28.4 million for the third quarter ended April 2, 2010. Sales of the Company’s speech generating devices increased 1.3% to $22.7 million, and sales of its special education software were flat at $6.0 million from the prior year.

Operating income was $3.8 million in the quarter, compared to operating income of $5.3 million in the same period a year ago. Operating income for the third quarter of fiscal year 2011 included a $1.0 million impairment loss related to intangible assets and fixed assets acquired as part of the Company’s product acquisition in July 2009.

Dynavox Chief Executive Officer Ed Donnelly commented, “In spite of the ongoing macroeconomic challenges, during the third quarter we saw some signs of improvements and our consolidated top line was roughly equal to the last year. Sales trends across both devices and software provide validation of our efforts to adapt to the environment as well as the fact that the demand for our products and services remains intact. We are encouraged by the steady sequential upside trend in our U.S. device business, which comprises almost three fourths of our total revenue.”

The Pittsburgh-based DynaVox Inc. completed an initial public offering (IPO) on April 27, 2010. As a result of the IPO and certain other recapitalization transactions, DynaVox Inc. became the sole managing member of and has a controlling interest in DynaVox Systems Holdings LLC and its subsidiaries.

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