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Stock Market & Financial Investment News

News Breaks
June 11, 2014
10:16 EDTCATMJefferies defends Cardtronics over Kerrisdale allegations
Concerns recently raised about Cardtronics' (CATM) accounting practices and the growth of the number of ATMs it manages are unfounded, research firm Jefferies wrote in a note to investors earlier today. WHAT'S NEW: Ramsey El-Assal, an analyst at Jefferies, responded to negative claims about Cardtronics that were recently made by research firm Kerrisdale Capital in a May 27 Seeking Alpha piece. Despite allegations regarding accounting practices related to depreciation of the company's automated teller machines, there is nothing wrong with the company's depreciation practices, El-Assal wrote. The analyst also disagreed with assertions that the number of ATMs managed by Cardtronics is barely growing when acquisitions are excluded. In fact, the number of ATMs managed by the company is growing even when acquisitions are excluded, the analyst believes. He kept a $41 price target and Buy rating on the shares. PRICE ACTION: In early trading, Cardtronics rose 1% to $30.68.
News For CATM From The Last 14 Days
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July 30, 2014
16:13 EDTCATMCardtronics reports Q2 adjusted EPS 61c, consensus 58c
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16:12 EDTCATMCardtronics sees 2014 adjusted EPS $2.28-$2.32, consensus $2.27
Sees 2014 revenue $1.005B-$1.02B, consensus $1.00B.
15:43 EDTCATMCardtronics in talks to buy security unit from Co-operative Group, Sky News says
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July 23, 2014
10:02 EDTCATMOn The Fly: Analyst Upgrade Summary
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07:25 EDTCATMCardtronics upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Cardtronics to Overweight citing accretion from the Welch ATM acquisition. The firm raised its price target for shares to $45 from $39.
July 22, 2014
06:42 EDTCATMCardtronics to host conference call
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July 21, 2014
17:00 EDTCATMCardtronics to acquire Welch ATM for $160M
Cardtronics announced a definitive agreement under which it will acquire Welch ATM for $160M. Upon completion of the transaction, the combined company will support a global portfolio of 109,600 ATMs, including 92,500 conveniently located retail ATMs in the United States. The combined business will be positioned to accelerate revenue growth, achieve cost synergies, create additional value for its retailer and financial institution customers, and drive shareholder value. A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs and a presence in a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of premier retailer locations. The companies anticipate closing later in Q3. Cardtronics will update its FY14 guidance to include the acquisition of Welch ATM following the completion of the transaction.

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