They will change their collective minds (?) AFTER the stock breaks $18.50.
ERF - Enerplus Corp - Shares in North American independent energy company, Enerplus Corp, are up more than 5.0% on Monday to stand at $15.84 as of 11:45 a.m. ET. The operator of oil and gas properties in Canada and the U.S. was upgraded to 'Outperform' from 'Market Perform' at Raymond James today. Options activity on Enerplus this morning indicates at least one strategist is positioning for shares in the name to rally to the highest level since October of 2012 during the next couple of months. The July $17 strike calls have traded around 1,100 times as of midday in New York versus previously existing open interest of 50 contracts. It looks like most of the volume was purchased at the start of the session for a premium of $0.10 each. The bullish position makes money if shares in Enerplus climb 8.0% to top $17.10 by July expiration. Shares in the energy company have increased 35% during the past six months.
It really does take money to make money. So far, lawyers and other consultants have racked up $701 million in fees as they work to recover the $17.5 billion lost to Bernard Madoff's Ponzi scheme.
That's less than half of the $1.6 billion legal tab associated with the Lehman Brothers' bankruptcy - the largest legal bill in history. But it's a considerable sum that's still growing as efforts to make Madoff investors whole drag on. To date, court-appointed trustee Irving Picard has collected $9.3 billion in cash and assets and repaid $5.4 billion of that to victims.
Penn West Petroleum Ltd. (PWT), the Canadian oil and natural gas producer with the highest dividend yield, had its biggest gain in 17 months after naming former Suncor Energy Inc. (SU) head Rick George as its chairman.
Penn West climbed 5.6 percent to C$10.04 at 11:21 a.m. in Toronto, after earlier rising the most since November 2011. George, 62, ran Canada’s largest energy company until last year and his appointment at Penn West is effective immediately, the Calgary-based company said in a statement yesterday. It also named Allan Markin, Canadian Natural Resources Ltd. (CNQ)’s chairman until last year, vice chairman.
George’s appointment is giving Penn West “credibility with the markets,” Sam La Bell, a Toronto-based analyst at Veritas Investment Research Co., said in a phone interview today. Penn West has begun driving down drilling costs, which may prevent a dividend cut, and “they brought in somebody on the board level who’s known for running a tight ship.”
The appointments come after Penn West director Jack Schanck replaced eight-year chairman John Brussa on May 1. Penn West is the worst performing stock this year among Canadian energy companies with market values more than C$3 billion ($2.97 billion) after Cenovus Energy Inc. (CVE), according to figures compiled by Bloomberg.
High costs at Penn West were boosting debt relative to cash flow and threatening the company’s dividend, La Bell said. Penn West’s dividend yield of 11.4 percent is the highest among the same group of Canadian energy companies. The stock has six buy, 13 hold and four sell recommendations from analysts.
The dividend continues to be an “ongoing strategic discussion with the board,” Penn West Chief Executive Officer Murray Nunns said on a May 2 conference call with analysts. Clayton Paradis, head of investor relations at Penn West, didn
Some people enjoy making mountains out of molehills......
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CHARLOTTE, N.C., March 28, 2013 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (SWSH) (SWI.TO), a leading provider of essential hygiene and sanitizing products and services, announced today that the Toronto Stock Exchange (the "TSX") has extended the date for the delisting of the common stock of Swisher Hygiene from the TSX until the close of market on May 15, 2013 — subject to Swisher Hygiene filing its Annual Report on Form 10-K for the year ended December 31, 2012 and its quarterly financial statements for the quarter ended March 31, 2013. The TSX had previously determined to delist the common stock of Swisher Hygiene on the TSX on April 1, 2013 if Swisher Hygiene was unable to come into compliance with its financial reporting requirements.
Swisher Hygiene expects to timely meet the conditions imposed by the TSX to remain listed, and continues to work toward meeting the previously announced conditions for continued listing on the NASDAQ Stock Market. Swisher Hygiene can provide no assurance when it will complete the filing of its Form 10-K for the year ended December 31, 2012 or its quarterly financial statements for March 31, 2013.