Shares of Linn Energy LLC (NASDAQ: LINE) rallied about 12% by mid-day trade. Bank of America Merrill Lynch upgraded the oil and gas firm’s rating to “buy” from “neutral”, citing company’s attractive valuation and said that cash flows are sustainable.
Just last week, company’s stock tumbled after it said that Securities and Exchange Commission (SEC) initiated a non-informal investigation on its hedging strategy and non-GAAP accounting standards linked to its acquisition of Berry Petroleum. At that moment, Linn Energy LLC said that due to SEC’s investigation, it was difficult to envisage when the deal with Berry Petroleum would close. The Company initially expected the deal to immediately close following the shareholder’s meeting in September.
Shares of Turquoise Hill Resources Ltd (NYSE: TRQ) climbed about 7.8% by mid-day trade after Bloomberg report said that copper miner’s dispute with Mongolian government eased. Bloomberg said the Mongolian government will allow Rio Tinto Group (which has 66% stake in Turquoise Hill Resources) to ship copper to China.
“There is no significant problem with the Oyu Tolgoi mineral export contract. The first shipments will start on July 9th 2013,” said Mongolia’s mining minister, Davaajav Gankhuyag, according to Bloomberg.
On two occasions, Rio Tinto’s had to delay its shipments to Chinese smelters. On June 14th, Rio Tinto requested Turquoise Hill to postpone the shipment then on June 21st, the Mongolian Government, which owns 34% stake, requested to postpone the shipment.
Shares of Santarus Inc. (NASDAQ: SNTS) rallied about 7.80% by afternoon trade. Last week, the biopharmaceutical company announced that its President and Chief Executive Officer, Gerald T. Proehl will give a presentation at the JMP Securities Healthcare Conference, which will be held on July 10 in New York City at 10:30 a.m. EST. Investors and analysts can watch the event live through its webcast presentation on www.santarus.com. The Company said that the presentation will be made available on its website for next 14 days. Santarus, Inc. is a specialty biopharmaceutical company, which focuses on acquisition, development and commercialization of proprietary products that attends to the needs of patients treated by physician specialists.
Shares of UnitedHealth Group Inc. (NYSE: UNH) gained on Monday. In its weekend research report, Barron’s said that the stock has a upside potential of 40% in next two years. Barron’s said that the health insurer was in a better shape to take full advantage of healthcare reforms (once they are fully rolled out) than its peers such as Cigna Corporation and Aetna Inc.
Shares of Facebook Inc. (NASDAQ: FB) ticked higher on Monday. The social networking giant was all set to roll out its advanced search engine, the Graph Search, on Monday, said the technology blog, All Things D. initially, this new feature will be available to all users in the United States. The Company introduced its beta version of Graph Search about 6 months ago. The Company said that the response was encouraging. In its blog spot, published on Monday, Facebook said, “Over the past few months, tens of millions of people have helped improve the product just by using it and giving feedback.”
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