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Stock Market & Financial Investment News

News Breaks
November 6, 2012
15:04 EDTPRA, ALTE, TX, NWSA, ACMP, SPA, CWTCompanies reporting After the Market Close on Tuesday, November 6
Notable companies reporting after the bell include Access Midstream Partners (ACMP), Alterra Capital Holdings (ALTE), California Water Service Group (CWT), News Corp (NWSA), ProAssurance (PRA), Sparton (SPA) and Ternium (TX).
News For ACMP;ALTE;CWT;NWSA;PRA;SPA;TX From The Last 14 Days
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May 27, 2015
16:04 EDTPRAProAssurance authorizes additional $100M for share repurchases/debt retirement
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May 18, 2015
08:40 EDTTXTernium restated carrying value of Usiminas investment
Ternium has revised its value in use calculation for its investment in Usinas Siderúrgicas de Minas Gerais S.A. -- Usiminas and will restate its financial statements to reduce the carrying amount of the Usiminas investment to $561.8M as of September 30, 2014. As a result of this restatement, the financial statements at December 31, 2014 and March 15, 2015 will also be restated to reflect the lower carrying value of the Usiminas investment. Ternium's cash flows are not affected. These actions follow the conclusion of previously disclosed discussions with the staff of the SEC regarding Staff comments relating to the carrying value of the company's investment in Usiminas under IFRS as of September 30, 2014 and subsequent periods. The Staff had requested information regarding Ternium's value in use calculations and the differences between the value in use carrying amounts and certain fair value indicators, including in particular the purchase price of approximately $4.80 per share which the company paid in October 2014 for the acquisition of 51.4M additional Usiminas ordinary shares from Caixa de Previdência dos Funcionários do Banco do Brazil -- PREVI. In connection with these discussions, the company revised the assumptions used to calculate the carrying value of the Usiminas investment at September 30, 2014 in light of the Staff's comment that the PREVI transaction price provided objective evidence of the value of the Usiminas investment. The restated carrying value as of September 30, 2014 has been revised to reflect a per share value equal to the PREVI transaction price.
08:15 EDTSPASparton, Ultra Electronics JV awarded $87M for U.S. Navy sonobuoy contract
Sparton Corporation and Ultra Electronics Holdings announce the award of subcontracts valued at $87M to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy. The award is a GFY15 ERAPSCO Indefinite Delivery Indefinite Quantity contract release for sonobuoy requirements under ERAPSCO’s five year contract. ERAPSCO will provide production subcontracts in the amount of $47M and $40M to Ultra Electronics USSI and Sparton DeLeon Springs, LLC respectively. Production will take place at Ultra Electronics USSI’s Columbia City, IN facility and Sparton’s DeLeon Springs, FL facility and is expected to be completed by March 2017.

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