PCZ posts
FeedPosted Jun 30th 2009 8:20AM by Paul Foster (RSS feed)
Filed under: Options
Suncor Energy (NYSE: SU) is expected to close on its purchase of Petro-Canada (NYSE: PCZ) in Q3 pending regulatory approvals. PCZ will receive 1.28 shares in the new company for each of their shares while SU holders will receive one share.
SU closed at $30.60. PCZ closed at $38.83. WTI Crude oil is recently down 0.21% to $71.34 according to Bloomberg. SU August option implied volatility of 53 is below its 26-week average of 60, according to Track Data, suggesting decreasing price movement.
Petro-Canada August option implied volatility is at 54, below its 26-week average of 59, according to Track Data, suggesting decreasing price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Posted May 27th 2009 1:00PM by Steven Halpern (RSS feed)
Filed under: International markets, Newsletters, Canada, Commodities, Oil, Stocks to Buy
"Canadian energy giants Suncor Energy (NYSE: SU) and PetroCanada (NYSE: PCZ) announced their intention to merge; Suncor, a holding in our 'Wildcatters Portfolio' will be the surviving entity," says Elliott Gue.
In his The Energy Strategist, he explains, "The combined firm will be the fifth-largest energy company in North America and the largest in Canada." Here, he explains why the new stock remains a buy.
"The combined firm will have more financial flexibility than Suncor did on its own. Debt ratios will be healthier, and the combined firm will also be able to redirect certain planned capital expenditures to higher return potential projects.
Continue reading Suncor (SU): A merger 'made in Canada'
Posted Mar 23rd 2009 8:00AM by Paul Foster (RSS feed)
Filed under: Options
Petro-Canada (NYSE: PCZ) will be purchased by Suncor Energy (NYSE: SU), the world's second-largest oil-sands producer, for about $14 billion.
PCZ will receive 1.28 shares in the new company for each of its shares, while SU holders will receive one share. PCZ April option implied volatility closed at 64, below its 26-week average of 71, according to Track Data, suggesting decreasing price movement.
SU April call option implied volatility closed at 82, puts at 89, above its 26-week average of 80, according to Track Data, suggesting larger price movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
Posted Apr 28th 2008 11:05AM by Laurie Pasternack (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Marvell Technology Group (MRVL)
MOST NOTEWORTHY: Credit Suisse, Masimo and Marvell Tech were today's noteworthy upgrades:
- Bear upgraded Credit Suisse Group (NYSE: CS) to Peer Perform from Underperform as they believe the company's balance sheet will stabilize and the company's Private Banking business is holding up well in difficult conditions. Goldman, which raised shares to Neutral from Sell, believes the worst is over regarding the market downturn.
- Citigroup upgraded Masimo Corporation (NASDAQ: MASI) to Buy from Hold citing expectations of a strong Q1 report, expected FDA approval for hemoglobin monitoring in 2H08, and valuation.
- Marvell Technology Group Ltd (NASDAQ: MRVL) was raised at Friedman Billings to Outperform from Market Perform based on valuation and improved business conditions.
OTHER UPGRADES:
Posted Dec 19th 2007 11:39AM by Eric Buscemi (RSS feed)
Filed under: Analyst upgrades and downgrades
MOST NOTEWORTHY: Barclays, Grant Prideco and Force Protection were today's noteworthy downgrades:
- Goldman downgraded shares of Barclays PLC (NYSE: BCS) to Sell from Neutral and added the stock to their Conviction Sell List citing credit concerns. They believe negative headlines on writedowns will continue to weigh on shares.
- Banc of America downgraded shares of Grant Prideco (NYSE: GRP) due to its acquisition by National Oilwell Varco (NYSE: NOV).
- Collins Stewart downgraded shares of Force Protection (NASDAQ: FRPT) to Underperform from Buy after the company did not receive MRAP vehicles ordered last night. They believe shares are likely to trade at book value of $3.58 or lower in the short term and set a target price of $2.90.
OTHER DOWNGRADES:
- Keefe Bruyette removed Navigators Group (NASDAQ: NAVG) from its Best Ideas List.
- Morgan Stanley downgraded Petro-Canada (NYSE: PCZ) to Underweight from Equal Weight.
- Jefferies downgraded Exelon (NYSE: EXC) to Hold from Buy.
Posted Aug 2nd 2007 10:16AM by Kevin Shult (RSS feed)
Filed under: Analyst reports, Apple Inc (AAPL), Dell (DELL), Hewlett-Packard (HPQ), Intel (INTC), International Business Machines (IBM), Advanced Micro Dev (AMD), Sun Microsystems (JAVA), Texas Instruments (TXN), Analyst initiations, Stocks to Buy, Stocks to Sell
MOST NOTEWORTHY: Apple (AAPL), large-cap semis, and CDC Corp (CHINA) were today's noteworthy initiations:
- Apple (NASDAQ: AAPL) was initiated with a Buy rating and $160 target at Banc of America, as the firm still sees a significant amount of upside in the stock from Mac share gains, strong iPod unit growth, and the iPhone, which they believe is being underestimated.
- Caris believes investors should focus on companies with strong product cycles that are gaining market share. They resumed coverage of Intel (NASDAQ: INTC), Texas Instruments (NASDAQ: TXN) and National Semiconductor (NASDAQ: NSM) with Above Average ratings, and resumed Advanced Micro (NYSE: AMD) with a Sell rating; Caris started Intel with a $26 target, Texas Instruments with a $41 target, National Semi with a $29 target, and AMD with a $10 target.
- CDC Corp (NASDAQ: CHINA) was initiated at Piper Jaffray with an Outperform rating and $11.50 target.
OTHER INITIATIONS:
- BMO Capital started shares of NuVasive (NASDAQ: NUVA) with an Outperform rating and $33 target.
- Raymond James initiated shares of Petro-Canada (NYSE: PCZ) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).