Delek to pay $572M for big stake in Texas peer

Mapco parent subject to ownership limits for first year after closing
Apr 15, 2015 6:59 AM

Analyst action: LP, Delek

RBC Capital Markets analyst Paul Quinn has boosted his rating on shares of Louisiana-Pacific to 'sector perform' from 'underperform,' citing a positive outlook for the price of oriented strand board because of limited inventory coming to market soon. But Quinn's price target of $15 is still about 8 percent below where LP (Ticker: LPX) ended Monday's session.

Over at Goldman Sachs, analyst Neil Mehta has gone the other way with shares of Delek US Holdings and a number of other oil refiners, cutting them from 'buy' to 'neutral.' Mehta now has a price target of $43 on Delek, which has climbed about 40 percent year to date. His call helped take Delek down almost 5 percent Monday, with shares (Ticker: DK) closing at $37.80.

"While we recognize further upside may exist from restructuring/M&A optionality at DK: (1) risk/reward appears more balanced after share price strength and (2) we expect WTI-Midland differentials will stay compressed with new pipeline capacity additions," the analysts explained.

Apr 14, 2015 8:54 AM

Analyst action: Pinnacle, LP

Wunderlich Securities analyst Kevin Reynolds has lifted his price target for shares of Pinnacle Financial Partners to $48 from $40 but is keeping his 'hold' rating. The largest bank headquartered in Nashville (Ticker: PNFP) got a lift this week from the news that is plans to buy Chattanooga's CapitalMark Bank & Trust. In Friday morning trading, they're down slightly to $44.65.

Over at Bank of America Merrill Lynch, analysts have taken Louisiana-Pacific down a notch to 'neutral' from 'buy' and trimmed their price target to $17 from $18. Shares of downtown-based LP (Ticker: LPX) are off about 0.5 percent to $16 today and down about 3 percent year to date.

Apr 10, 2015 9:59 AM

Now under Tech 2020 umbrella, XLR8R looks for third cohort

Automotive accelerator program autoXLR8R, which is now being run by regional venture development organization Tech 2020, is on the hunt for its third cohort of startups. The nine-week program was started by the Southern Middle Tennessee Entrepreneur Center in 2013 and will this year be run from Tech 2020's Oak Ridge offices. Classes will start July 6 and take place in various meeting locations but the Tech 2020 team also will utilize online platforms to be more accessible to participants and gather a wider audience.

"We are moving to an online/remote based program delivery, which will minimize disruption of the entrepreneur's normal business activities and it also removes geography as a constraint,” Shawn Carson, Tech 2020's director of venture development, said in a release. “We expect to have participants from across Tennessee and the Southeast."

Tech 2020 also has connections with the University of Tennessee and UT Research Foundation.

Apr 7, 2015 7:02 AM

Marathon Village businesses target Buchanan Street for move

Nashville-based startups companies Emil Erwin and Otis James are moving from Marathon Village to spaces located on North Nashville’s historic Buchanan Street, Nashville Business Journal reports.

Prior to interstate construction, Buchanan likely was the second-most bustling commericial street, after Jefferson Street, on the city's north side.

See the building (which has since been updated) from which Emil Erwin, a leather and canvas carrygoods company, will operate here courtesy of Google Maps and read more here.
 

Apr 6, 2015 8:30 AM

New CEO, sales EVP for Franklin auto parts maker

Board member takes over top seat
Apr 3, 2015 7:39 AM

Analyst action: AmSurg, Delek Logistics

Shares of AmSurg jumped more than 4 percent Thursday — and closed within 3 percent of their all-time high — after analysts at Stephens launched coverage of the ambulatory surgery and physician services company with an 'overweight' rating at $77 price target. That last number is the highest on the Street and $10 above the median target. It leaves more than 20 percent of upside for AmSurg (Ticker: AMSG), which already has climbed 16 percent year to date.

The limited partner units of Delek Logistics Partners (Ticker: DKL) fell about 3 percent to $41.59 Thursday after Barclays analyst Richard Gross reiterated his 'hold' rating. Gross has a $45 price target for the company, which Wells Fargo Securities' Roger Read and Lauren Hendrix say would benefit big time from any deal between Delek US Holdings and Alon USA Energy.

Apr 3, 2015 6:52 AM

Nissan March sales dip 2.7%; fiscal year sales up 8.9%

Nissan announced today March sales of 145,085 vehicles, a dip of 2.7 percent compared to March 2014 sales of 149,136 vehicles.

Despite the drop, March represented the second-best U.S. sales month in company history, according to a release.

In addition, for the company’s just-ended 2014 fiscal year, Nissan set an all-time record with 1,399,557 U.S. sales, an increase of 8.9 percent over the 1,285,105 for the company's 2013 fiscal year.

April 1 marks the beginning of Nissan’s 2015 fiscal year.

“Strong crossover demand, including the best month all-time for Rogue, made March the second-best month in our brand’s history,” Fred Diaz, Nissan senior vice president of U.S. sales and marketing/operations, said in the release. “With a record 2014 fiscal year in the books, we expect fresh, new models to help us continue our gains in 2015, such as the all-new Maxima being unveiled this week at the New York Auto Show.”

The Nissan North America Inc. office is based in Franklin.

Apr 1, 2015 2:48 PM

Delek Logistics buys more assets from Delek US

Delek Logistics Partners will pay almost $62 million to Delek US Holdings, aka The Mothership, for a storage tank at Delek US' refinery in Tyler, Texas, and some unloading racks at its Arkansas plant. The acquisition will add $6.7 million annually to Delek Logistics' EBITDA, which Chairman and CEO Uzi Yemin wants to get to $150 million by year's end. Check out more details here.

Apr 1, 2015 7:14 AM

Delek in M&A talks with Texas company

Mapco parent eyes some or all of Israeli investor's stake
Mar 31, 2015 2:41 PM