Campus Crest elects not to exercise Copper Beech purchase option Campus Crest announced that it has elected not to exercise the first purchase option to acquire additional interests in the entities comprising the 37 property Copper Beech portfolio and will revert to a 48% economic interest in the portfolio. The company said, "As per the terms of the amended purchase and sale agreement, effective today we will hold a 48% economic interest in the 37 property portfolio. Separately, we maintain our 67% economic interest in the Copper Beech asset located in Ames, Iowa. Our earnings guidance released on July 31, which already assumed a 48% economic interest in Copper Beech, remains unchanged at this time.”
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.