Boston, MA 05/20/2014 (wallstreetpr) – The $896 million exploration and production company Triangle Petroleum Corporation (NYSEMKT:TPLM) said its planned acquisition of William Basin properties will not impact its 1Q and 2Q.2014 financial results. The company will acquire the properties through its wholly-owned exploration and production subsidiary called Triangle USA Petroleum Corporation in a deal that it expects to close by June 30, 2014. It has already signed two separate definitive agreements for the deal. The properties that will transfer to TPLM after the closure of the transaction are 46,100 net acres located areas around Sheridan County, MT and Williams Country, ND. The transaction is valued at $120 million. Triangle Petroleum Corporation (NYSEMKT:TPLM) has already secured 100 percent financing commitment with a bank. The deal should support improved product and higher revenue to the company in the long run.
Fashion specialty retailer Nordstrom, Inc. (NYSE:JWN) expects revenue and profit improvements in 2014 as the company continues to channel money through investments that include investment in technology. The company expects to see its revenue up between 5.5 and 7.5 percent in full-year 2014. It expects earnings to come between $3.75 and $3.90 per share for the year. In addition, Nordstrom expects to see same-store sales up by as much as 4 percent in the year. The optimism in the company increased following the widely positive 1Q financial results. The company reported 1Q2014 revenue of $2.8 billion, up 6.8 percent over the same period last year. It earned a profit of $140 million, ahead of Wall Street estimate of $133 million. EPS came in at $0.72, better than the consensus estimate of $0.68 for the quarter. Following the positive 1Q results and the optimistic projects for the year, analysts at Credit Suisse upgraded their rating of the stock of Nordstrom, Inc. (NYSE:JWN) to a “buy” and assigned a price target of $78 per share, up from $65.
The most recent data show that short interest in the outsourced semiconductor packaging provider Amkor Technology, Inc. (NASDAQ:AMKR) decreased in April. The data revealed a slightly over 30 percent decrease in short interest, in the stock between April 15 and April 30. The company recently reached a patent settlement that will see it pay $125 million to Tessera Technologies Inc (NASDAQ:TSRA).
