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Stock Market & Financial Investment News

News Breaks
December 28, 2012
07:04 EDTFTKFlotek announces $75M expanded credit facility
Flotek Industries announced that it has entered into an Amendment to its current credit facility with PNC Bank that, among other terms, expands the size and extends the term of the facility, providing capital to refinance its outstanding convertible notes and reduce the cost of its current borrowings. In total, the revised facility will provide Flotek with $75M in borrowing capacity. The terms of the amended credit facility provide Flotek with access to a $50M revolving credit facility, an increase from the current revolving credit facility of $35M. In addition, PNC has extended Flotek a $25M term loan which, combined with current cash on hand, will be used to refinance the company's existing convertible notes between now and mid-February at which time Flotek plans to redeem the remaining outstanding convertible notes. Both the revolver and term loan mature on December 26, 2017. Interest on the new facility will vary - based on the level of borrowings - between PNC's base lending rate plus 0.50-1.50% or the London Interbank Overnight Rate, or LIBOR, plus 1.50-2.50%, a substantial reduction from the 5.25% interest rate paid on the outstanding convertible notes.
News For FTK From The Last 14 Days
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July 29, 2015
09:43 EDTFTKFlotek mentioned cautiously in a Seeking Alpha article
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July 27, 2015
10:00 EDTFTKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
08:03 EDTFTKFlotek upgraded on stronger demand at Oppenheimer
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06:16 EDTFTKFlotek upgraded to Perform from Underperform at Oppenheimer
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July 23, 2015
10:05 EDTFTKHigh option volume stocks
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09:13 EDTFTKOn The Fly: Pre-market Movers
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07:30 EDTFTKFlotek added to Best Ideas List at Stephens
Stephens added Flotek the the Best Ideas List citing the significant Q2 beat and believes Flotek can continue to grow even in a flat rig count environment . The firm rates Flotek an Overweight and increased its price target to $23 from $17 on shares.
July 22, 2015
16:23 EDTFTKFlotek sees profitable growth for 2H15
While we are very pleased with our second quarter results, we understand that cyclical headwinds remain which will continue to provide challenges to our industry in the coming months," concluded CEO Chisholm. "However, as our second quarter results show, a more difficult environment has created an opportunity for Flotek to demonstrate the importance of performance adding technology in maximizing operator performance and, as a result new opportunities for Flotek's advanced chemistry technologies. Through the use of FracMax and the 'Flotek Store', we believe the third quarter should build on the success of the last three months and provide opportunities for profitable growth in the second half of the year."
16:22 EDTFTKFlotek reports Q2 adjusted EPS 2c, consensus (7c)
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