Tag Archives: Corp

Encana Corp. downgraded at RBC


Encana Corp. was downgraded to sector perform from outperform at RBC Capital Markets, however the outlook isn’t everything bad. Analyst Greg Pardy, who also raised his price target on the stock to US$15 from US$14, noted that the Canadian energy producer has successfully refocused its portfolio for high-margin growth for the foreseeable future. However, he thinks the company’s next goal ...

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Encana Corp posts first quarter financial results that surpass analyst expectations


CALGARY C Following the NDP\’s stunning election win in Alberta a week ago, as investors were dumping Canadian energy stocks in alarm, Alberta\’s premier-designate Rachel Notley acquired the phone and called the top executive at Encana Corp. Encana president and CEO Doug Suttles recalled at his company\’s annual general meeting Tuesday what he told Notley: \”If we can (provide) support, ...

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Crescent Point Energy Corp falls on Legacy Oil and Gas deal


Shareholders don’t exactly love Crescent Point Energy Corp.’s $1.5-billion deal to acquire Legacy Gas and oil Inc. – at least not at first glance. The stock was down almost five per cent Wednesday, after the Calgary-based oil and gas producer announced it is buying its competitor to add assets in the core southeast Saskatchewan area. Strategically, the deal makes a ...

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Intel Corp to buy Altera Corp in US$16.7-billion deal


Intel Corp agreed to buy Altera Corp for US$16.7 billion as the world\’s biggest chipmaker seeks to make up for slowing demand in the PC industry by expanding its line-up of higher-margin chips utilized in data centres. By combining with Altera, Intel can bundle its processing chips with the smaller company\’s programmable chips, that are used, amongst other things, to ...

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Newmont Mining Corp. upgraded at RBC


Newmont Mining Corp. was upgraded to outperform from sector perform at RBC Capital Markets due to improvements in the operating momentum and the disappearance of an M&A-related overhang. The Colorado-based miner acquired the Cripple Creek & Victor gold mine from AngloGold Ashanti Ltd. for US$820 million in cash earlier this week. The deal is accretive for Newmont, nevertheless its share ...

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The next few weeks are big for McDonald’s Corp. turnaround plan


McDonald’s Corp.’s new promotion down south that offers customers a little fries along with a double cheeseburger for US$2.50 bodes well for that company’s prospects come july 1st. The nationally advertised U.S. value tier looks nearly the same as one David Palmer at RBC Capital Markets believes worked well for the fast-food chain in the New York City area, giving ...

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Insurer Ace Ltd buying Chubb Corp in $28-billion deal that creates one of world’s largest insurers


WARREN, N.J. – Insurer Ace Ltd. is buying The Chubb Corp. for about $28.3 billion in cash and stock inside a deal and build one of the world\’s largest insurers. The deal, among the largest to date this year, will prove to add diversity to Ace\’s global business and give it a powerful brand name within the U.S., where Chubb ...

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Potash Corp. buying K+S AG far from a sure thing


The market may be factoring in a roughly 60-per-cent chance that Potash Corp. of Saskatchewan successfully acquires K+S AG, but a minumum of one analyst thinks the possibilities much lower. Ben Scarlett at J.P. Morgan downgraded K+S to underweight from overweight as he sees the probability of a deal at nearer to one in three. “An offer is likely to ...

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Celgene Corp to buy Receptos Inc for US$7.2 billion


Celgene Corp said it decided to buy Receptos Inc for about $7.2 billion to grow its pipeline with Receptos\’ immune-inflammatory bowel drug, Ozanimod. Celgene will pay US$232 in cash for each Receptos share, representing a 12 per cent premium to the company\’s closing price on Tuesday. Ozanimod is in late-stage trials for inflammatory bowel disease and ms. Related What Valeant\’s ...

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Intel Corp predicts server demand will make up for PC market woes


Intel Corp., the biggest maker of semiconductors, predicted third-quarter sales that could exceed analysts\’ predictions as those who own data centers add ability to feed information demanded by mobile Internet use. Revenue will be US$14.3 billion, plus or minus US$500 million, the company said Wednesday inside a statement. That compares with analysts\’ average projection of US$14 billion, according to data ...

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