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March 4, 2014
07:24 EDTSLRC, TCPC, ARCC, HRZN, MCC, ACAS, TICC, AINV, GBDCBDC sector upgraded to Overweight at Wells Fargo
Wells Fargo upgraded the Business Development Company sector to Overweight from Market Weight after Russell announced that it will exclude BDCs from the Russell indices as a result of Acquired Fund Fees. Wells says any sell-off in the space will be due to technical and not fundamental reasons. The firm has Outperform ratings on American Capital (ACAS), American Capital (ARCC), Golub Capital (GBDC), Medley Capital (MCC) and TCP Capital (TCPC).
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August 4, 2015
16:51 EDTHRZNHorizon Technology reports Q2 investment income per share 25c, consensus 28c
Reports net asset value $162.8M, or $13.99 per share, as of June 30.
16:02 EDTSLRCSolar Capital reports Q2 EPS 38c, consensus 38c
08:12 EDTTICCTICC Capital TICC Management to be acquired by Benefit Street Partners
TICC Capital announced that the members of the company's investment adviser, TICC Management, have entered into an agreement with Benefit Street Partners, pursuant to which an affiliate of BSP will acquire TICC Management. BSP intends to expand TICC's investment strategy to primarily focus on private debt investments. BSP is the credit investment arm of Providence Equity Partners. BSP and affiliates manage over $10B in assets across a broad range of credit strategies including high yield, levered loans, private/opportunistic debt, liquid credit, structured credit and commercial real estate debt.
08:10 EDTTICCTICC Capital reports Q3 NII 18c, consensus 20c
Reports Q3 NAV per share $8.60.
07:34 EDTARCC, ACASUBS to hold a symposium
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July 27, 2015
17:20 EDTTCPCTCP Capital estimates net asset value per share as of June 30 was $15.09-$15.11
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July 23, 2015
18:45 EDTARCCAres Management and Kayne Anderson to merge into Ares Kayne Management
Ares Management (ARES) and Kayne Anderson (KYN) have entered into a definitive merger agreement to create Ares Kayne Management, L.P., with a combined $113B of AUM as of March 31. Under the terms of the agreement, Ares will provide $2.55B in consideration, the majority of which will be in the form of Ares Operating Group Units. The transaction is expected to close on or around January 1, 2016. Ares Kayne combines Ares Management, a leading global alternative asset manager with $87B in AUM with Kayne Anderson, an investor with $26B in AUM to form a global asset manager that will invest across five complementary, market leading investment groups: Tradable Credit, Direct Lending, Energy, Private Equity and Real Estate. The combined firm will have approximately 450 investment professionals. Upon closing, the merger is expected to be accretive to Aresí economic net income, distributable earnings and fee-related earnings per unit.
July 22, 2015
10:01 EDTAINVOn The Fly: Analyst Downgrade Summary
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05:22 EDTAINVApollo Investment downgraded to Equal Weight from Overweight at Barclays
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