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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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March 2, 2015
05:38 EDTCLDCloud Peak downgraded to Hold from Buy at Brean Capital
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February 27, 2015
06:56 EDTRIOBHP Billiton, Rio Tinto will not write down Australian mines, WSJ says
BHP Billiton (BHP) and Rio Tinto (RIO) will reportedly not have to write down Australian iron ore mining assets, reports the Wall Street Journal, citing statements by EY's mining and metals leader Mike Elliott and Pengana Capital's Tim Schroeders. The companies' mines in the region were built cheaply and had pre-existing railway and port infrastructure, keeping them profitable even at current ore prices. Reference Link
06:20 EDTRIORio Tinto, Glencore to implement new cost-cutting measures, Financial Times says
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February 25, 2015
06:53 EDTRIORio Tinto says 'no chance' of Glencore merger, Reuters reports
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February 24, 2015
17:56 EDTRIORio Tinto a better play than BHP Billiton on commodity rebound, Barron's says
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February 23, 2015
09:59 EDTRIOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
08:45 EDTRIORio Tinto downgraded to Equal Weight from Overweight at Morgan Stanley
07:40 EDTRIOBMO Capital to hold a conference
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05:31 EDTRIORio Tinto downgraded to Neutral from Buy at UBS
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February 19, 2015
08:45 EDTRIODiana Shipping announces time charter contracts
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February 17, 2015
16:28 EDTCLDCloud Peak sees 2015 U.S. coal demand lower than 2014
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16:26 EDTCLDCloud Peak reports Q4 adjusted EPS 26c, consensus 6c
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15:32 EDTCLDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Devon Energy (DVN), consensus $1.05... Vornado Realty (VNO), consensus $1.23... Analog Devices (ADI), consensus 61c... FirstEnergy (FE), consensus 75c... CF Industries (CF), consensus $5.08... Agilent Technologies (A), consensus 41c... Cimarex Energy (XEC), consensus 82c... Flowserve (FLS), consensus $1.13... Fossil (FOSL), consensus $3.07... Rackspace (RAX), consensus 19c... Norwegian Cruise Line (NCLH), consensus 37c... Jack in the Box (JACK), consensus 87c... Cloud Peak Energy (CLD), consensus 7c... La-Z-Boy (LZB), consensus 38c... KAR Auction Services (KAR), consensus 29c... Owens & Minor (OMI), consensus 50c... Valmont Industries (VMI), consensus $1.65... Realty Income (O), consensus 66c.
08:14 EDTRIORio Tinto management to meet with JPMorgan
Meetings to be held in Montreal on February 16, in Philadelphia/Wilmington on February 17, in Dallas/Des Moines on February 18, in Los Angeles on February 19 and in San Francisco/San Mateo on February 20 hosted by JPMorgan.

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