Orlando, FL -- (SBWIRE) -- 09/12/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Linn Energy LLC(NASDAQ:LINE), Philip Morris International Inc.(NYSE:PM).
Linn Energy LLC(NASDAQ:LINE)’s shares jumped on news that the company’s plans to buy Berry Petroleum Co were moving forward.
LinnEnergy, along with its affiliate LinnCo LLC, received comments from the U.S. Securities and Exchange Commission on the proposed deal. The companies are preparing to file amended paperwork.
Linn Energy had announced in February that it planned to buy Berry, a drilling company, in a stock deal worth about $2.5 billion, or $4.3 billion including debt. In July, the SEC had started a private inquiry related to the deal.
The 3 companies have set the record date for shareholder votes at Sept. 30.
Janney Capital Markets analyst Suzanne Hannigan said that she views this action as "an expression of confidence" that this will be the final round of comments and that the companies will soon be allowed to proceed with a shareholder vote.
She also said the update was s a positive development in the midst of negative reports on Linn's hedging practices and accounting. The analyst has a "Neutral" rating on the stock.
Are investors worried about the recent updates with LINE? Find out with a free trend analysis HERE
Philip Morris International Inc.(NYSE:PM) has rewarded investors with an 11% dividend hike.
This is the third dividend increase at Philip Morris in the past two years.
The company said its board of directors had agreed to raise the company's dividend to 94 cents a share from 85 cents. The new dividend is payable October 11 to shareholders of record as of September 26.
Philip Morris shares have been flat on the year, lagging behind other tobacco companies such as Lorillard that has risen 13.6% and Altria (formerly parent of Philip Morris) climbing 11.25%.
The Philip Morris was inactive in premarket trade yesterday.
Is PM going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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