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Stock Market & Financial Investment News

News Breaks
August 20, 2014
09:17 EDTCLD, RIOCloud Peak announces termination of TRA with Rio Tinto
Cloud Peak (CLD) announced it has agreed to pay $45M to Rio Tinto (RIO) to terminate the Tax Receivable Agreement that was established at the time of Cloud Peak Energy’s Initial Public Offering in 2009. Under the acceleration and release agreement with Rio Tinto, this payment settles all future liabilities that would have been owed under the TRA. At June 30, Cloud Peak Energy carried an undiscounted liability of $103M in respect of its estimated future obligations under the TRA and anticipated making cash payments of approximately $14M each year in 2014 and 2015 and additional payments in some subsequent years. The settlement will result in a non-cash gain during the third quarter of approximately $58M before tax and approximately $37M after adjustments to the associated deferred tax assets. Cloud Peak Energy retains the deferred tax assets related to the step up in tax basis as a result of Rio Tinto’s disposal of the business. As such, Cloud Peak Energy will continue to benefit from increased tax depreciation and does not expect any increase in cash income taxes payable as a result of this transaction.
News For CLD;RIO From The Last 14 Days
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February 4, 2016
11:21 EDTRIOOptions with increasing call volume; FMC HST XME RIO BHP PAY DNDK BSX ALLY SWFT
10:00 EDTCLDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
07:27 EDTCLDCloud Peak upgraded to Market Perform from Underperform at FBR Capital
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