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Fly News Breaks for September 4, 2015
FBNK, CIEN, SSS, EVEP, CAT, VNCE, N, DSX, CAM, UNCFF, BP
Sep 4, 2015 | 10:00 EDT
Today's noteworthy downgrades include: BP (BP) downgraded to Underperform from Neutral at BofA/Merrill... Cameron (CAM) downgraded to Equal Weight from Overweight at Barclays... Caterpillar (CAT) downgraded to Neutral from Outperform at Baird... Ciena (CIEN) downgraded to Hold from Buy at Deutsche Bank... Diana Shipping (DSX) downgraded to Sell from Neutral at UBS... EV Energy (EVEP) downgraded to Underperform from Market Perform at Raymond James... First Connecticut (FBNK) downgraded to Market Perform from Outperform at Keefe Bruyette... NetSuite (N) downgraded to Underperform from Market Perform at Raymond James... Sovran Self Storage (SSS) downgraded to Market Perform at Raymond James... UniCredit (UNCFF) downgraded to Neutral from Overweight at JPMorgan... Vince Holding (VNCE) downgraded to Underperform from Neutral at BofA/Merrill.
News For BP;CAM;CAT;CIEN;DSX;EVEP;FBNK;N;SSS;UNCFF;VNCE From the Last 2 Days
BP
Dec 5, 2019 | 06:09 EST
The management of Lightsource BP and BP have agreed to equalize their shareholdings in Lightsource BP to create a simplified 50:50 joint venture structure. As part of the transaction, BP said in a statement that it will purchase newly-issued equity in the business to help accelerate Lightsource BP's growth, supporting its drive towards 10GW of developed assets by the end of 2023. In December 2017, BP acquired 43% of Lightsource which was subsequently rebranded to Lightsource BP. Today, BP has agreed to purchase additional equity in Lightsource BP to become an equal partner in the business with the balance of shares continuing to be held by management and staff. Since new shares will be issued in this transaction, the funds paid by BP to increase its stake will be immediately available to Lightsource BP for investment. Financial details of the transaction are not being released. Strategic decisions will continue to be taken jointly by the two shareholder groups, with each group now having an equal number of nominees on the Lightsource BP Board. Reference Link