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EQT

EQT Corporation

$20.89 /

+0.09 (+0.43%)

13:28
05/20/19
05/20
13:28
05/20/19
13:28

EQT Corporation urges shareholders to vote for director nominees

EQT Corporation issued the following statement regarding the definitive proxy statement filed by Toby Rice and Derek Rice and their associates in connection with EQT's 2019 Annual Meeting of Shareholders: "As shareholders of EQT, you may soon receive a proxy statement with voting materials from the Rices regarding EQT's upcoming 2019 Annual Meeting. The EQT Board of Directors strongly urges you not to sign or return any white proxy card sent to you by the Rices. The EQT Board of Directors intends to file the Company's definitive proxy statement shortly with the U.S. Securities and Exchange Commission. EQT's proxy statement, along with its GOLD universal proxy card, will be mailed to all shareholders eligible to vote at the 2019 Annual Meeting at that time. Until then, we ask that you ignore any solicitation materials and discard any white proxy cards you may receive from the Rice Family. Upon receipt of EQT's GOLD universal proxy card, we urge you to protect the value of your investment and vote "FOR" EQT's highly qualified director nominees...Our Board and leadership team are executing comprehensive cultural changes and a business plan that are already producing significant financial results for shareholders. With ongoing improvement in operations and reductions in costs, EQT is confident that it can generate substantial and sustainable free cash flow growth...The Company is on track to achieve approximately $300M to $400M of adjusted free cash flow in 2019, and to generate at least $2.9B through 2023. It is important for shareholders to know that the Board has reviewed and considered the Rice Family's nominees and determined that the election of their slate would not be in the best interests of EQT's shareholders. In addition to many of the Rice nominees being former associates and friends of Toby Rice and Derek Rice, we believe they would immediately jeopardize shareholder value by destabilizing EQT's continuing success in driving operational efficiencies and reducing costs. The EQT Board believes that electing any of the Rice nominees instead of the Company's highly qualified director candidates would derail the progress the Company has made to become a free cash flow machine. In fact, we believe the Rice Family's campaign is singularly designed to install Toby as CEO and his friends and family on the EQT Board and management team, and pursue risky and potentially value-destructive ideas in lieu of the Company's proven strategy. We do not believe the Board should be a friends-and-family club, and it is not in the best interests of all shareholders for EQT to become a family business. EQT and its Board of Directors remain focused on successfully executing the Company's operating plan, which has already yielded significant results, and will continue to act in the best interests of the Company and its shareholders."

EQT EQT Corporation
$20.89 /

+0.09 (+0.43%)

05/20/19 Wells Fargo
EQT Corporation upgraded to Outperform from Market Perform at Wells Fargo
04/16/19
Fly Intel: Top five analyst downgrades
04/16/19 MKM Partners
EOG Resources, Hess, EQT Corp cut to Neutral at MKM Partners on valuation
04/16/19 MKM Partners
EQT Corporation downgraded to Neutral from Buy at MKM Partners

TODAY'S FREE FLY STORIES

Downgrade
Alstom downgraded to Neutral from Overweight at JPMorgan » 20:25
02/17/20
02/17
20:25
02/17/20
20:25
ALSMY

Alstom

$0.00 /

+ (+0.00%)

JPMorgan analyst Akash…

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Hot Stocks
Fly Intel: Top five weekend stock stories » 19:44
02/17/20
02/17
19:44
02/17/20
19:44
GOOGL

Alphabet Class A

$1,518.35 /

+4.81 (+0.32%)

, PIR

Pier 1 Imports

$3.54 /

-0.21 (-5.60%)

, ALSMY

Alstom

$0.00 /

+ (+0.00%)

, BDRBF

Bombardier

$0.00 /

+ (+0.00%)

, AAPL

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$324.91 /

-0.02 (-0.01%)

, GOOG

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$1,519.63 /

+5.05 (+0.33%)

, FB

Facebook

$214.21 /

+1.09 (+0.51%)

, VIAC

ViacomCBS

$34.96 /

-0.03 (-0.09%)

, VIACA

ViacomCBS

$38.76 /

-0.09 (-0.23%)

Catch up on the…

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. In a statement regarding quarterly guidance, Apple (AAPL) said that: "As the public health response to COVID-19 continues, our thoughts remain with the communities and individuals most deeply affected by the disease, and with those working around the clock to contain its spread and to treat the ill. [...] Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors. The first is that worldwide iPhone supply will be temporarily constrained. While our iPhone manufacturing partner sites are located outside the Hubei province - and while all of these facilities have reopened - they are ramping up more slowly than we had anticipated. [...] The second is that demand for our products within China has been affected. All of our stores in China and many of our partner stores have been closed. Additionally, stores that are open have been operating at reduced hours and with very low customer traffic." 2. Bombardier (BDRBF) announced that it has made the strategic decision to focus exclusively on business aviation and plans to accelerate its deleveraging through the sale of its rail business. Bombardier has signed a memorandum of understanding with Alstom SA (ALSMY) and the Caisse de depot et placement du Quebec for the sale of its Transportation business to Alstom. Under the transaction, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.2B. Total proceeds, after the deduction of debt-like items and transferred liabilities, including pension obligations, and net of BT cash, are expected to be approximately $6.4B, subject to upward adjustments of up to $440M. After deducting la Caisse's equity position between $2.1B-$2.3B, Bombardier would receive net proceeds of between $4.2B-$4.5B, including $550M of Alstom shares for a fixed subscription price of EUR 47.50, monetizable after a three-month lock-up post-closing, subject to closing adjustments, indemnities and the EUR to USD exchange rate. 3. Pier 1 Imports (PIR) announced that it has entered into a Plan Support Agreement with a majority of its term loan lenders and is pursuing a sale of the company. To facilitate an orderly sale process and implement the PSA, the company and its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company also intends to use this process to complete the previously announced closure of up to 450 store locations, which includes the closure of all its stores in Canada. 4. For months now, regulators, legislators, activists, and presidential candidates have been calling out the toxic impact that big tech platforms are having on privacy, security, and consumer choice, and there are signs that regulation is starting to hurt, Eric Savitz wrote in this week's edition of Barron's. But it is actually the self-imposed checks that could be most damaging to tech's bottom line in the months to come, with Google (GOOGL) beginning to limit cookies in its Chrome browser and Apple adding a feature in its iPhone software that alerts consumers when an app tracks their location, the author noted. Meanwhile, Facebook (FB) is starting to feel the effects of restrictions on both ad targeting and measurement, as the company says that "the majority of that impact lies in front of us." 5. ViacomCBS (VIAC) subsidiary Paramount's "Sonic the Hedgehog" set a record for a video game adaption with a three-day domestic opening of $58M and $70M for the four days. Overseas, the movie launched to $43M from 40 markets for a global bow of $101M through Sunday and $113M through Monday. "Sonic the Hedgehog" sports an A CinemaScore and a 63% Rotten Tomatoes rating.

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On The Fly
Box Office Battle: 'Sonic the Hedgehog' wins weekend with $70M opening » 18:03
02/17/20
02/17
18:03
02/17/20
18:03
T

AT&T

$38.24 /

-0.1 (-0.26%)

, CMCSA

Comcast

$46.08 /

+0.02 (+0.04%)

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Comcast

$0.00 /

+ (+0.00%)

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Sony

$68.84 /

-0.73 (-1.05%)

, LGF.A

Lionsgate

$10.66 /

+0.12 (+1.14%)

, LGF.B

Lionsgate

$10.05 /

+0.085 (+0.85%)

, DIS

Disney

$139.55 /

-1.32 (-0.94%)

, VIACA

ViacomCBS

$38.76 /

-0.09 (-0.23%)

, VIAC

ViacomCBS

$34.96 /

-0.03 (-0.09%)

"Box Office Battle" is…

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Hot Stocks
Amazon's Bezos pledges $10B to climate change fight » 17:32
02/17/20
02/17
17:32
02/17/20
17:32
AMZN

Amazon.com

$2,135.08 /

-14.65 (-0.68%)

Amazon CEO Jeff Bezos…

Amazon CEO Jeff Bezos will commit $10B to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, according to an Instagram post by the executive. Reference Link

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Periodicals
U.S. considers cutting Huawei off from global chip suppliers, Reuters says » 17:29
02/17/20
02/17
17:29
02/17/20
17:29
TSM

TSMC

$58.19 /

-1.14 (-1.92%)

The Trump administration…

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Hot Stocks
Advance Auto Parts increases quarterly cash dividend to 25c per share » 17:25
02/17/20
02/17
17:25
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AAP

Advance Auto Parts

$133.57 /

-1.065 (-0.79%)

Advance Auto Parts…

Advance Auto Parts announced that on February 12, 2020, its Board of Directors approved an increase in the company's quarterly cash dividend from 6c per share to 25c per share on the company's outstanding common stock. This dividend is payable April 3, 2020 to shareholders of record at the close of business on March 20, 2020.

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Earnings
Otter Tail reports Q4 adjusted EPS 51c, consensus 50c » 17:15
02/17/20
02/17
17:15
02/17/20
17:15
OTTR

Otter Tail

$54.77 /

+0.42 (+0.77%)

Reports Q4 revenue…

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Rocky Brands declares quarterly cash dividend of 14c per share » 17:10
02/17/20
02/17
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RCKY

Rocky Brands

$25.66 /

-0.3 (-1.16%)

Rocky Brands announced…

Rocky Brands announced that its board of directors has declared a quarterly cash dividend of 14c per share of outstanding common stock, which will be paid on March 16, 2020 to all shareholders of record as of the close of business on March 2, 2020.

Earnings
Transocean reports Q4 EPS (43c), consensus (30c) » 17:08
02/17/20
02/17
17:08
02/17/20
17:08
RIG

Transocean

$4.53 /

-0.14 (-3.00%)

Reports Q4 revenue $792M,…

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Earnings
Flowserve sees FY20 adjusted EPS $2.30-$2.45, consensus $2.45 » 17:01
02/17/20
02/17
17:01
02/17/20
17:01
FLS

Flowserve

$46.44 /

-0.51 (-1.09%)

Sees FY20 revenue growth…

Sees FY20 revenue growth 3%-5%, consensus $4.08B.

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Earnings
Flowserve reports Q4 adjusted EPS 66c, consensus 65c » 16:59
02/17/20
02/17
16:59
02/17/20
16:59
FLS

Flowserve

$46.44 /

-0.51 (-1.09%)

Reports Q4 revenue…

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Earnings
Gardner Denver sees FY20 adjusted EBITDA $540M-$570M  16:52
02/17/20
02/17
16:52
02/17/20
16:52
GDI

Gardner Denver

$36.83 /

-0.7 (-1.87%)

 
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Earnings
Gardner Denver reports Q4 adjusted EPS 37c, consensus 34c » 16:50
02/17/20
02/17
16:50
02/17/20
16:50
GDI

Gardner Denver

$36.83 /

-0.7 (-1.87%)

Reports Q4 revenue…

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Hot Stocks
DCP Midstream names Corey Walker President of Operations » 16:46
02/17/20
02/17
16:46
02/17/20
16:46
DCP

DCP Midstream

$20.29 /

+0.01 (+0.05%)

DCP Midstream announced…

DCP Midstream announced that Corey Walker has joined the company as the President of Operations. DCP's executive team includes two President of Operations roles that oversee an equal portion of the company's geographic footprint. Walker will oversee DCP's North and Midcontinent business units, including Southern Hills and other related logistics, marketing, and commercial operations. In addition to the Permian business unit, Don Baldridge, President of Operations, has expanded his responsibilities to oversee DCP's South business unit, including Sand Hills and other related logistics, marketing, and commercial operations.

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Earnings
Service Corp. sees FY20 adjusted EPS $1.96-$2.16, consensus $2.11  16:44
02/17/20
02/17
16:44
02/17/20
16:44
SCI

Service Corp.

$49.94 /

+1.29 (+2.65%)

 
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Earnings
Service Corp. reports Q4 adjusted EPS 60c, consensus 60c » 16:22
02/17/20
02/17
16:22
02/17/20
16:22
SCI

Service Corp.

$49.94 /

+1.29 (+2.65%)

Reports Q4 revenue…

Reports Q4 revenue $850.76M, consensus $847.6M. Reports FY19 adjusted EPS of $1.90, consensus $1.91. Reports FY19 revenue of $3.23B, consensus $3.23B.

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Hot Stocks
Apple warns on coronavirus, won't meet revenue guidance » 16:12
02/17/20
02/17
16:12
02/17/20
16:12
AAPL

Apple

$324.91 /

-0.02 (-0.01%)

In a statement regarding…

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Periodicals
Toyota to resume China output at three plants next week, Reuters reports » 15:57
02/17/20
02/17
15:57
02/17/20
15:57
TM

Toyota

$140.10 /

-0.91 (-0.65%)

Toyota said it plans to…

Toyota said it plans to resume output at three of its four main auto plants in China next week, according to Reuters. The resumption of production had initially been slated for February, but was delayed because of the new coronavirus outbreak in China, the report notes. Reference Link

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Periodicals
Bayer, BASF to pay $365M in weedkiller crop-damage suit, WSJ reports » 15:54
02/17/20
02/17
15:54
02/17/20
15:54
BAYRY

Bayer

$0.00 /

+ (+0.00%)

, BASFY

BASF

$0.00 /

+ (+0.00%)

A jury ruled against…

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Periodicals
Twitter says Olympics, IOC accounts hacked, Reuters reports » 15:49
02/17/20
02/17
15:49
02/17/20
15:49
TWTR

Twitter

$36.92 /

-0.23 (-0.62%)

Twitter said that an…

Twitter said that an official Twitter account of the Olympics and the International Olympic Committee's media account had been hacked and temporarily locked, according to Reuters. The accounts were hacked through a third-party platform, a spokesperson for the social media platform said in an emailed statement, without giving further details. Reference Link

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Hot Stocks
Cubic announces semiannual dividend » 15:37
02/17/20
02/17
15:37
02/17/20
15:37
CUB

Cubic

$65.26 /

+0.03 (+0.05%)

Cubic announced that its…

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Periodicals
U.S. considers blocking GE engine sales for China's new plane, Reuters reports » 15:35
02/17/20
02/17
15:35
02/17/20
15:35
GE

General Electric

$12.83 /

-0.115 (-0.89%)

, HON

Honeywell

$180.79 /

+0.695 (+0.39%)

The U.S. government is…

The U.S. government is considering whether to stop General Electric (GE) from continuing to supply engines for a new Chinese passenger jet, Reuter's Karen Freifeld and Alexandra Alper write, citing people familiar with the matter. The potential restriction on the engine sales - possibly along with limits on other components for Chinese commercial aircraft such as flight control systems made by Honeywell International (HON) - is the latest move in the battle between the world's two largest economies over trade and technology, the authors note. Reference Link

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Periodicals
Court orders Tesla to stop cutting down trees for Gigafactory, Reuters says » 15:29
02/17/20
02/17
15:29
02/17/20
15:29
TSLA

Tesla

$799.95 /

-4.05 (-0.50%)

A German court ordered…

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Conference/Events
Roche to hold a webcast » 15:27
02/17/20
02/17
15:27
02/17/20
15:27
RHHBY

Roche

$0.00 /

+ (+0.00%)

Management highlights…

Management highlights Roche's early drug development with a focus on Genentech Research and early Development (gRED) on a webcast to be held on February 18 at 9:30 am. Webcast Link

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Periodicals
NY drops fight against T-Mobile, Sprint merger, Reuters reports » 15:25
02/17/20
02/17
15:25
02/17/20
15:25
TMUS

T-Mobile

$96.43 /

+1.33 (+1.40%)

, S

Sprint

$8.70 /

+0.03 (+0.35%)

New York dropped its…

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