Albany, New York (09/22/2014) – Chevron Corporation (NYSE:CVX) intends to divest a number of its assets and the latest one on the block is the Kapolei refinery in Hawaii. The facility that boasts production capacity of 54,000 barrels per day joins the growing list of assets that Chevron Corporation (NYSE:CVX) has earmarked for sale. The company looks to tapping about $10 billion from the divestment of some of its assets over the next three years. Chevron Corporation (NYSE:CVX) previously thought of converting the Kapolei refinery into a terminal, but it later decided against that plan. The sale of the assets is expected to help the company unlock funds while also weighing in on its costs and expenses to boost performance.
Analysts still believe that Time Warner Inc (NYSE:TWX) is a good stock to acquire despite the company failing to tie the knot with Twenty-First Century Fox Inc (FOXA). Analysts at Citigroup (NYSE:C) weighed in on the $66.51 billion media and entertainment company and reaffirmed their “buy” rating on it. They also increased their target price on the stock to $89 from $76.69. Time Warner Inc (NYSE:TWX) rejected $80 billion buyout offer from FOXA, terming it as too low to accept. The offer valued it at $85 per share. However, the company chose independence and the CEO, Jeffery L. Bewkes, has been seeking to prove that Time Warner Inc (NYSE:TWX) is better off as a standalone company.
Charles Schwab Corp (NYSE:SCHW) witnessed insider selling in which EVP, James D. Mccool, unloaded 35,000 shares at an average price of $30.10. The transaction fetched $1,053,500 and left the insider with 84,905 shares in the company, according to SEC filing. The insider selling came at a time when shares of Charles Schwab Corp (NYSE:SCHW) are up almost 17% so far this year. It is worth noting that a number of analysts have recently weighed in on Charles Schwab Corp (NYSE:SCHW), giving the stock a consensus rating of a “hold” and average target price of $30.33.
FireEye Inc (NASDAQ:FEYE) had its target price raised at Piper Jaffray to $40 from $36. The rating firm also has an “overweight” rating on the stock of FireEye Inc (NASDAQ:FEYE). The firm cited that innovation was driving revenue and gains in the company.