Breaking News Instant updates and real-time market news.

EVA

Enviva

$27.80

0.15 (0.54%)

07:57
04/09/18
04/09
07:57
04/09/18
07:57

Enviva reaffirms FY18 adjusted EBITDA, distributable cash flow growth

Enviva said, "The full-year 2018 adjusted EBITDA and distributable cash flow we guided to in our earnings release on February 22, 2018 remain achievable, but, as noted above, are partially dependent upon the amount of recoveries from our insurers and other responsible parties, the timing and performance of which are not entirely within our control and which may straddle quarters and possibly extend into 2019. With our confidence in the underlying long-term stability of the business and our expectation of the recoverable nature of the costs of the Chesapeake incident, we are reaffirming our guidance for distributions of at least $2.53 per common and subordinated unit for full-year 2018, with quarter over quarter increases expected throughout the year." The company added, "we do not believe the underlying profitability or cost position of our business will be affected once the Chesapeake terminal returns to full operation. The events that took place in Chesapeake are financial and operational risks we identified as part of our industrial risk management process, and we believe substantially all of the costs resulting from the incident are recoverable through our insurance or other contractual rights. We expect we will bear the immediate costs of the event, including emergency response costs, inventory and asset write-offs, and inventory disposal, in the first quarter of 2018. Specifically, the value of the lost inventory, inclusive of disposal costs, and emergency response costs are expected to be in the range of $10 million to $12 million and $8 million to $10 million, respectively. We expect the cost to repair damage to the terminal to be between $4 million and $8 million. Our insurance group has been collaborative and responsive-we already have received substantial advance payments from them-and, despite the incremental cash costs borne by us prior to receipt of insurance proceeds or other recoveries, we remained undrawn on our $100 million revolver at the end of the first quarter. We anticipate that these event-related costs, which are included in our financial results as a reduction of net income, will be added back in our calculation of adjusted EBITDA. Business continuity costs, however, are expected to reduce adjusted EBITDA in both the first and second quarters. The incremental costs of our extended logistics chain are expected to be approximately $4 million per month through June 30, when we expect the terminal to return to full service. We also expect substantially all of these operational costs to be recoverable under our insurance policies, but the timing of the incurrence of the costs and their recovery will not match. Given this potential timing mismatch, our reported adjusted EBITDA will include variability between quarters that does not reflect the underlying ratable performance of the business and our quarterly distribution coverage ratios may not be comparable to those for previously reported periods or our targets for the full year."

EVA Enviva
$27.80

0.15 (0.54%)

09/22/17
SBSH
09/22/17
UPGRADE
Target $34
SBSH
Buy
Enviva upgraded to Buy from Neutral at Citi
Citi analyst Ryan Levine upgraded Enviva Partners to Buy and raised his price target for the shares to $34 from $28. The analyst likes the risk/reward at current levels and believes Enviva is well positioned in the next 12-18 months. Levine sees "material" upside potential if the company continues to sign Japanese wood pellet contracts.
09/22/17
09/22/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Airlines (AAL) upgraded to Overweight from Equal Weight at Barclays with analyst Brandon Oglenski saying the company appears to have all the attributes of a "value compounding opportunity" for equity investors. 2. Mindbody (MB) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brent Bracelin saying elevated churn risk from the company's model transition to higher-value subscribers is now discounted into the valuation. 3. Enviva (EVA) upgraded to Buy from Neutral at Citi with analyst Ryan Levine saying he likes the risk/reward at current levels and believes Enviva is well positioned in the next 12-18 months. 4. PSEG (PEG) upgraded to Overweight from Equal Weight at Barclays with analyst Gregg Orrill saying the company could be the industry's largest beneficiary of potential near-term policy initiatives. 5. AstraZeneca (AZN) upgraded to Outperform from Market Perform at Bernstein with analyst Tim Anderson saying that the outlook of its current products has improved, leaving it well-positioned to grow even if its pipeline does not yield any new drugs through 2025. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$284.67

2.87 (1.02%)

, SPX

S&P 500

$0.00

(0.00%)

13:19
08/16/18
08/16
13:19
08/16/18
13:19
Periodicals
U.S. and China to hold lower-level trade talks later in August, Reuters says »

A Chinese delegation …

SPY

SPDR S&P 500 ETF Trust

$284.67

2.87 (1.02%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

13:19
08/16/18
08/16
13:19
08/16/18
13:19
Hot Stocks
Breaking Hot Stocks news story  »

Rosehill Resources Inc…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
08/16/18
08/16
13:17
08/16/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
08/16/18
08/16
13:16
08/16/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TRP

TransCanada

$43.81

0.04 (0.09%)

13:13
08/16/18
08/16
13:13
08/16/18
13:13
Periodicals
Federal judge orders review of Keystone XL oil pipeline, Reuters reports »

In the latest setback for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TEVA

Teva

$23.39

0.92 (4.09%)

, MYL

Mylan

$37.94

0.12 (0.32%)

13:05
08/16/18
08/16
13:05
08/16/18
13:05
Hot Stocks
Teva granted FDA approval of first generic version of EpiPen »

The U.S. Food and Drug…

TEVA

Teva

$23.39

0.92 (4.09%)

MYL

Mylan

$37.94

0.12 (0.32%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 25

    Aug

  • 10

    Sep

  • 16

    Sep

  • 13

    Nov

GOOG

Alphabet

$1,223.00

9.35 (0.77%)

, GOOGL

Alphabet Class A

$1,239.00

6.7 (0.54%)

13:05
08/16/18
08/16
13:05
08/16/18
13:05
Periodicals
Google workers upset about company making censored engine for China, NYT says »

Hundreds of Google…

GOOG

Alphabet

$1,223.00

9.35 (0.77%)

GOOGL

Alphabet Class A

$1,239.00

6.7 (0.54%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Aug

  • 18

    Sep

  • 20

    Sep

  • 28

    Oct

13:04
08/16/18
08/16
13:04
08/16/18
13:04
Conference/Events
CFTC to hold a podcast on Agriculture Block Trade Analysis »

Dave Amato, of the U.S.…

HAFC

Hanmi Financial

$25.70

0.4 (1.58%)

13:04
08/16/18
08/16
13:04
08/16/18
13:04
Hot Stocks
Hanmi Financial announces receipt of all regulatory approvals for SWNB merger »

Hanmi Financial…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Nov

CLF

Cleveland-Cliffs

$9.89

0.05 (0.51%)

13:00
08/16/18
08/16
13:00
08/16/18
13:00
Options
Repeat call spreads in Cleveland Cliffs »

Repeat call spreads in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 11

    Sep

NWBI

Northwest Bancshares

$18.31

0.12 (0.66%)

13:00
08/16/18
08/16
13:00
08/16/18
13:00
Hot Stocks
Northwest Bancshares chairman William Wagner sells over 64K shares »

Northwest Bancshares…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TEVA

Teva

$23.47

1 (4.45%)

, MYL

Mylan

$37.84

0.02 (0.05%)

12:57
08/16/18
08/16
12:57
08/16/18
12:57
Hot Stocks
Teva rises, Mylan dips after FDA reported to approve first generic EpiPen »

Shares of Mylan (MYL)…

TEVA

Teva

$23.47

1 (4.45%)

MYL

Mylan

$37.84

0.02 (0.05%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 25

    Aug

  • 10

    Sep

  • 16

    Sep

  • 13

    Nov

MYL

Mylan

$37.85

0.03 (0.08%)

, TEVA

Teva

$23.45

0.975 (4.34%)

12:53
08/16/18
08/16
12:53
08/16/18
12:53
Periodicals
Breaking Periodicals news story on Mylan, Teva »

FDA approves Teva generic…

MYL

Mylan

$37.85

0.03 (0.08%)

TEVA

Teva

$23.45

0.975 (4.34%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 25

    Aug

  • 10

    Sep

  • 16

    Sep

  • 13

    Nov

DE

Deere

$137.51

1.81 (1.33%)

12:51
08/16/18
08/16
12:51
08/16/18
12:51
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Aug

NVDA

Nvidia

$260.13

1.15 (0.44%)

, AMAT

Applied Materials

$47.71

0.22 (0.46%)

12:51
08/16/18
08/16
12:51
08/16/18
12:51
Earnings
Notable companies reporting after market close »

Notable companies…

NVDA

Nvidia

$260.13

1.15 (0.44%)

AMAT

Applied Materials

$47.71

0.22 (0.46%)

JWN

Nordstrom

$51.81

-0.05 (-0.10%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Aug

  • 16

    Aug

  • 16

    Aug

ADM

Archer Daniels

$50.05

0.62 (1.25%)

12:45
08/16/18
08/16
12:45
08/16/18
12:45
Recommendations
Archer Daniels analyst commentary  »

Archer Daniels price…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 06

    Nov

GOOG

Alphabet

$1,225.60

11.95 (0.98%)

, GOOGL

Alphabet Class A

$1,241.50

9.2 (0.75%)

12:38
08/16/18
08/16
12:38
08/16/18
12:38
Periodicals
Google preparing to launch display-equipped speaker for holiday season, NAR says »

Google (GOOGL) is…

GOOG

Alphabet

$1,225.60

11.95 (0.98%)

GOOGL

Alphabet Class A

$1,241.50

9.2 (0.75%)

AMZN

Amazon.com

$1,901.56

20.16 (1.07%)

BABA

Alibaba

$175.08

5.28 (3.11%)

AAPL

Apple

$213.46

3.18 (1.51%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Aug

  • 22

    Aug

  • 23

    Aug

  • 10

    Sep

  • 13

    Sep

  • 18

    Sep

  • 20

    Sep

  • 28

    Oct

SPY

SPDR S&P 500 ETF Trust

$285.01

3.21 (1.14%)

, SPX

S&P 500

$0.00

(0.00%)

12:33
08/16/18
08/16
12:33
08/16/18
12:33
General news
Breaking General news story on SPDR S&P 500 ETF Trust, S&P 500 »

Mnuchin says U.S.…

SPY

SPDR S&P 500 ETF Trust

$285.01

3.21 (1.14%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BA

Boeing

$345.54

13.81 (4.16%)

12:32
08/16/18
08/16
12:32
08/16/18
12:32
Hot Stocks
Boeing to acquire Millennium Space Systems, terms not disclosed »

Boeing announced that it…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

EWH

MSCI Hong Kong Index

$23.83

0.17 (0.72%)

12:30
08/16/18
08/16
12:30
08/16/18
12:30
Options
One day option play opened in iShares MSCI Hong Kong Fund »

One day option play…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
08/16/18
08/16
12:17
08/16/18
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
08/16/18
08/16
12:16
08/16/18
12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

12:15
08/16/18
08/16
12:15
08/16/18
12:15
General news
Atlanta Fed's Q3 GPNow estimate was held at 4.3% »

Atlanta Fed's Q3…

CMG

Chipotle

$525.43

-0.44 (-0.08%)

12:14
08/16/18
08/16
12:14
08/16/18
12:14
Periodicals
Chipotle finds cause of foodborne illness at Ohio location, CNBC says »

Chipotle said that tests…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Sep

TIF

Tiffany

$127.95

2.23 (1.77%)

, BABA

Alibaba

$175.17

5.37 (3.16%)

12:13
08/16/18
08/16
12:13
08/16/18
12:13
Periodicals
Tiffany to sell on Alibaba's 'Luxury Pavilion' platform on Tmall, Axios reports »

Tiffany & Co (TIF)…

TIF

Tiffany

$127.95

2.23 (1.77%)

BABA

Alibaba

$175.17

5.37 (3.16%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Aug

  • 28

    Aug

  • 10

    Sep

  • 12

    Sep

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.