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Stock Market & Financial Investment News

News Breaks
July 2, 2014
14:21 EDTDRLDoral Financial jumps after Court of Appeals reverses First Instance ruling
Doral Financial disclosed earlier that on July 1, the Court of Appeals of Puerto Rico reversed the Court of First Instance, holding that the court erred when it ruled that it lacked jurisdiction to hear the case. The Court of Appeals decided that the Puerto Rico Department of the Treasury's May 14 letter to Doral declaring the Closing Agreement null is to be considered a final agency determination, and that it would be futile for Doral to have to exhaust any additional administrative remedies. In its decision, the Court of Appeals stated that the Supreme Court has recognized the urgency of this matter on two occasions, and ordered the Court of First Instance to hold an evidentiary hearing in which the Treasury Department will have the burden to prove the alleged fraud, malfeasance or misrepresentation of material facts that would constitute a valid basis for the Treasury Department to set aside the Closing Agreement. Shares of Doral are up 62%, or $2.48, to $6.51 in afternoon trading.
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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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