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Stock Market & Financial Investment News

News Breaks
March 18, 2013
07:13 EDTAWIArmstrong World completes refinancing of senior credit facility
Armstrong World Industries announced that on Friday March 15, it closed on a new $1.28B Senior Secured Credit Facility consisting of a $250M of revolving credit facility and a $575M term loan A, both of which mature in March of 2018, and a $450M term loan B which matures in March of 2020. Proceeds from this new credit agreement will be used to repay the company's previous credit agreement. The company expects that the transaction, which was led by BofA Merrill Lynch, JP Morgan and Barclays, will lower cash interest expense by approximately $8M annually. Fees, which are expected to be approximately $8M, will largely be amortized over the life of the facility.
News For AWI From The Last 14 Days
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March 2, 2015
10:00 EDTAWIOn The Fly: Analyst Upgrade Summary
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09:58 EDTAWIArmstrong World to benefit from Lumber Liquidators issues, says CL King
07:32 EDTAWIArmstrong World upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded Armstrong World to Neutral and increased its price target to $59 from $51 to reflect the spin-off of the flooring segment, which removes an overhang.
February 25, 2015
08:54 EDTAWIArmstrong World 2.74M share Spot Secondary priced at $55.64
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February 24, 2015
16:10 EDTAWIArmstrong World files automatic mixed securities shelf
10:00 EDTAWIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
08:49 EDTAWIArmstrong World split positive, says SunTrust
After Armstrong World announced that it would split into two public entities, SunTrust thinks the move will unlock significant value in the company's ceilings unit, while the company will look to use the split to get its flooring business moving in the right direction. The firm raised its price target on the stock to $64 from $60 and keeps a Buy rating on the shares.
07:31 EDTAWIArmstrong World downgraded at KeyBanc
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07:26 EDTAWIArmstrong World price target raised ot $62 from $55 at Deutsche Bank
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06:31 EDTAWIArmstrong World downgraded to Hold from Buy at KeyBanc
February 23, 2015
07:10 EDTAWIArmstrong World sees FY15 adjusted EPS $2.05-$2.45, consensus $2.34
Sees FY15 revenue $2.53B-$2.63B, consensus $2.7B.
07:07 EDTAWIArmstrong World reports Q4 adjusted EPS 38c, consensus 26c
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07:02 EDTAWIArmstrong World to separate into two public companies
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07:00 EDTAWIArmstrong World to separate into two public companies

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