Monday, August 9, 2010

Anadarko Raising $1.5 Billion; Downgraded At Friedman Billings on Valuation (APC)

The stock is up a penny at $55.69.
First up, Reuters:
Anadarko announces $1.5 bln 7-year note sale-IFR
Anadarko Petroleum Corp (APC.N) announced a plan to sell $1.5 billion of 7-year unsecured notes with pricing expected later on Monday or Tuesday, IFR reported.
JPMorgan and Barclays Capital are lead managers on the deal, said IFR, a Thomson Reuters service....
From The
Anadarko Petroleum(APC) was downgraded from Outperform to Market Perform at FBR Capital Markets. Valuation call, based on a $60 price target.