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Stock Market & Financial Investment News

News Breaks
February 17, 2014
18:10 EDTDRCDresser-Rand announces plans to suspend operations at facilities in Spain
Dresser-Rand announced that it is planning to suspend operations at its pig manure treatment facilities in Spain as a result of the potential implementation of a new Spanish regulation that, if adopted, would significantly reduce beneficial tariffs for its plants in Spain. It stated, "In view of the pending change in the tariffs, the Company has decided to suspend the operations at its six facilities, although discussions with the Spanish government are ongoing." If the draft regulation is enacted as proposed, or in the event of no material change in the status of the proposed regulation before the company files its 2013 Form 10-K, the company would be required under U.S. GAAP to reduce 2013 operating income by approximately $25M due to the retroactive reduction of the tariffs and up to approximately $50M due to asset impairments. Without taking into account the possible impact of the proposed regulation, 2013 revenues and operating income associated with the six facilities is estimated to be approximately $138M and $5.7M, respectively.
News For DRC From The Last 14 Days
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August 15, 2014
14:02 EDTDRCDresser-Rand volatility increase as shares trend higher
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August 14, 2014
10:05 EDTDRCOn The Fly: Analyst Upgrade Summary
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06:53 EDTDRCDresser-Rand upgraded to Buy from Neutral at Guggenheim
August 8, 2014
07:40 EDTDRCDresser-Rand volatility expected to move on receives takeover interest, report
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August 7, 2014
17:57 EDTDRCDresser-Rand receives takeover interest, hires adviser, Bloomberg reports
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15:56 EDTDRCDresser-Rand jumps 11% after Bloomberg says company received buyout interest
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15:55 EDTDRCDresser-Rand receives takeover interest, hires adviser, Bloomberg says
August 6, 2014
10:00 EDTDRCOn The Fly: Analyst Downgrade Summary
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08:13 EDTDRCDresser-Rand downgraded to Accumulate from Buy at Global Hunter
Global Hunter downgraded Dresser-Rand to Accumulate from Buy citing ongoing headwinds in upstream product spending. Price target lowered to $68 from $71.

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