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Stock Market & Financial Investment News

News Breaks
June 1, 2013
14:36 EDTAGOAssured Guaranty repurchases shares from WL Ross & Co
Assured Guaranty has agreed to purchase, as part of its previously announced share repurchase program, 5M of its common shares held by Wilbur L. Ross, Jr. and funds managed by WL Ross & Co. LLC and its affiliates, collectively, WLR. The purchase price of $21.94 per share is a 3% discount from today’s NYSE closing price. After this transaction closes on June 5, WLR will hold approximately 14.9M, or approximately 8%, of the company’s remaining shares outstanding, a position valued at approximately $336M. “Wilbur Ross is a great supporter of Assured Guaranty as both a significant investor and director,” said Dominic Frederico, president and CEO of Assured Guaranty. “We highly value his continuing contributions and his confidence in the value and future of our company.” Related to this repurchase, Mr. Ross said, “The shares were sold in connection with fund management purposes, we believe in the continued value of Assured Guaranty, and we have no plans to sell additional shares at this time.” After this transaction, approximately $71M remains available under Assured Guaranty’s current share repurchase authorization.
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August 8, 2014
09:15 EDTAGOOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.

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