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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:15 EDTDRLDoral Financial says Hacienda claims it has no right to refund of overpaid taxes
Earlier today, Doral Financial disclosed the following: Doral Financial Corporation, the holding company of Doral Bank, with operations in Puerto Rico and the U.S., called upon the Government of Puerto Rico, and Puerto Rico Department of Treasury, Hacienda, to honor its obligations, as it repeatedly committed to do in communications with the financial community since January of 2013. Contrary to these commitments, on May 14, Doral received a letter wherein Hacienda unilaterally decided that the 2012 Closing Agreement is null and that Doral has no right to a refund of its overpaid taxes. Doral is evaluating its legal options in connection with this letter and anticipates taking appropriate action to protect its legal rights. Over the last few weeks, Doral has attempted to provide options to the Government to assist in the repayment of its debt to Doral. Instead, Hacienda has sent a letter claiming that its previous agreement with Doral was now null. This unilateral action raises serious questions as to whether the Government will make good on its promises and honor its legal agreements. In midday trading, shares of Doral Financial are down almost 20% to $2.64.
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September 10, 2014
09:22 EDTDRLOn The Fly: Pre-market Movers
HIGHER: Twitter (TWTR), up 2.8% after upgraded at UBS... SunEdison (SUNE), up 2.7% after Google (GOOG) to provide $145M investment in the company's Regulus solar plant... Camtek (CAMT), up 15% after receiving new orders of $3.0M from large OSAT... Doral Financial (DRL), up 12.5% after announcing sale of approximately $430M in assets... Imperva (IMPV), up 1.5% after upgraded at Oppenheimer... Mandalay Digital (MNDL), up 13.7% after updating its guidance. UP AFTER EARNINGS: Land's End (LE), up 8.7%... Palo Alto (PANW), up 4.4%. LOWER: eBay (eBAY), down 2.6% after downgraded at Piper Jaffray following yesterday's launch of Apple Pay (AAPL)... Mobileye (MBLY), down 2.5% after downgraded at Deutsche Bank... Krispy Kreme (KKD), down 2% after Q2 earnings report... GT Advanced (GTAT), down 7% after downgraded at Goldman and Piper Jaffray... Boyd Gaming (BYD), down 3.3% after downgraded at Morgan Stanley... Urban Outfitters (URBN), down 2% after reporting Q3 SSS were so far in the low single-digits negative... Armada Hoffler (AHH), down 6% after filing to sell 5M shares of common stock... AvalonBay (AVB), down 1.8% after to sell 4.5M shares in a forward sales agreement with Goldman... AngloGold (AU), down 12% after announcing plans to restructure its international mining under a new company and saying equity capital raising being contemplated.
September 9, 2014
18:29 EDTDRLDoral Financial announces sale of approximately $430M in assets
Doral Financial, the financial services holding company of Doral Bank, with operations in Puerto Rico and the U.S. mainland, announced the sale of approximately $430M in assets resulting in proceeds of approximately $423M to Doral Bank.

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