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Stock Market & Financial Investment News

News Breaks
July 24, 2014
07:14 EDTSFL, FROFrontline announces termination of charter-in contracts of VLCCs
Frontline (FRO) has agreed with Ship Finance International (SFL) to terminate the long term charter parties for the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce and Ship Finance has simultaneously sold the vessels to unrelated third parties. The charter parties are expected to terminate in Q4. The decision to terminate the long term charter parties was taken in view of the required investment to take the vessels through the 15 year special survey. Frontline has agreed an aggregate compensation payment to Ship Finance of approximately $58.8M for the early termination of the charter parties, of which approximately $10.5M will be paid upon termination and the balance will be recorded as notes payable, with similar amortisation profiles to the current lease obligations, with reduced rates until December 2015 and full rates from 2016. As of June 30, the company has capital lease obligations to Ship Finance of $101.5M and $608.3M for these three vessels and the remaining 12 VLCCs and five Suezmax tankers, respectively.
News For FRO;SFL From The Last 14 Days
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February 9, 2016
10:00 EDTFROOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Neutral from Sell at Goldman... Electronic Arts (EA) upgraded to Buy from Neutral at Hilliard Lyons... First Interstate (FIBK) upgraded to Outperform from Market Perform at Fig Partners... Flagstar Bancorp (FBC) upgraded to Buy from Hold at Sandler O'Neill... Frontline (FRO) upgraded to Buy from Neutral at Clarksons Platou... Grifols (GRFS) upgraded to Buy from Hold at Berenberg... Grupo Financiero (GGAL) upgraded to Neutral from Underweight at JPMorgan... Kinross Gold (KGC) upgraded to Outperform from Neutral at Credit Suisse... Luxottica (LUX) upgraded to Hold from Underperform at Jefferies... PrivateBancorp (PVTB) upgraded on growth outlook at SunTrust... SS&C (SSNC) upgraded to Outperform from Market Perform at Raymond James... Salesforce (CRM) upgraded to Hold from Underperform at Jefferies... TCF Financial (TCB) upgraded to Neutral from Sell at Compass Point... TreeHouse (THS) upgraded to Overweight from Neutral at JPMorgan... WPX Energy (WPX) upgraded to Overweight from Equalweight at Capital One... Yelp (YELP) upgraded to Neutral from Sell at B. Riley.
09:26 EDTFROFrontline upgraded to Buy from Neutral at Clarksons Platou
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