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Stock Market & Financial Investment News

News Breaks
December 31, 2012
09:16 EDTGILGildan Activewear got NYSE reprimand for not notifying exchange of meeting date
Gildan Activewear disclosed in a regulatory filing that the company received a letter from the New York Stock Exchange that constitutes a public reprimand by the Exchange to Gildan as a result of its failure to provide timely notification to the Exchange of the record date for the Company's upcoming annual meeting scheduled for February 7, 2013. In the letter, the NYSE stated, "The Company acknowledged that it notified the Toronto Stock Exchange, the principal trading market for the Company's common shares, of the record date on November 8, 2012. However, due to an administrative error, the Company did not report this information to the Exchange until December 21, 2012. The Company therefore failed to make a timely notification to the Exchange pursuant to Sections 204.21 and 401.02...the Exchange [has elected to issue] a public reprimand letter to [the] listed company that has violated a listing standard as an alternative to suspending trading in or delisting the listed company."
News For GIL From The Last 14 Days
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December 8, 2014
08:50 EDTGILGildan Activewear announces plan to buy back shares through private agreements
Gildan Activewear announced that it intends to purchase for cancellation up to 1,525,000 of its common shares pursuant to private agreements between Gildan and an arm's-length third-party seller. The purchases will form part of Gildan's normal course issuer bid which provides authorization for the purchase of up to 6.1 million shares announced on December 4, 2014. Such purchases will be made pursuant and subject to the terms of an issuer bid exemption order issued by the Ontario Securities Commission and will take place before December 7, 2015. In accordance with the order, Gildan's purchases under such private agreements will not exceed, in the aggregate, one-third of the maximum number of shares that it may purchase under its recently announced share repurchase program, or 2,033,333 common shares.
December 5, 2014
10:00 EDTGILOn The Fly: Analyst Upgrade Summary
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08:35 EDTGILGildan Activewear upgraded to Strong Buy from Outperform at Raymond James
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08:30 EDTGILGildan Activewear should be bought on weakness, says Stifel
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08:00 EDTGILGildan Activewear price target lowered to $61 from $68 at Canaccord
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07:29 EDTGILGildan Activewear weakness creates buying opportunity, says RBC Capital
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December 4, 2014
10:08 EDTGILOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Anglo American (AAUKY) downgraded to Underperform from Buy at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Miller Tabak... AuRico Gold (AUQ) downgraded to Underweight from Equal Weight at Morgan Stanley... BHP Billiton (BHP) downgraded to Neutral from Buy at BofA/Merrill... BIND Therapeutics (BIND) downgraded at Credit Suisse... BRF S.A. (BRFS) downgraded to Neutral from Buy at Goldman... CIRCOR (CIR) downgraded to Hold from Buy at BB&T... DISH (DISH) downgraded to Underweight from Equal Weight at Barclays... Enerplus (ERF) downgraded to Sector Performer from Outperformer at CIBC... Gildan Activewear (GIL) downgraded to Hold from Buy at GMP Securities... Kindred Biosciences (KIN) downgraded to Hold from Buy at Craig-Hallum... Nevsun Resources (NSU) downgraded to Neutral from Buy at UBS... Public Storage (PSA) downgraded at KeyBanc... Rio Tinto (RIO) downgraded to Underperform from Buy at BofA/Merrill... SeaChange (SEAC) downgraded to Hold from Buy at Noble Financial... Thor Industries (THO) downgraded at BMO Capital... Tupperware Brands (TUP) downgraded to Underperform from Market Perform at BMO Capital... UTi Worldwide (UTIW) downgraded at Stifel... Vale (VALE) downgraded to Neutral from Buy at BofA/Merrill... Vermilion Energy (VET) downgraded to Sector Performer from Outperformer at CIBC... Wal-Mart (WMT) downgraded to Neutral from Buy at UBS.
09:26 EDTGILGildan Activewear downgraded to Hold from Buy at GMP Securities
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07:13 EDTGILGildan Activewear announces 6.1M share NCIB
Gildan Activewear board has also approved the initiation of a normal course issuer bid. The company has received approval from the Toronto Stock Exchange to implement a normal course issuer bid to purchase for cancellation up to 6.1 million common shares, representing approximately 5% of the company's issued and outstanding common shares. As of November 30 the company had 122.48M common shares issued and outstanding.
07:12 EDTGILGildan Activewear raises quarterly dividend by 20% to 13c per share
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07:10 EDTGILGildan Activewear sees FY15 adjusted EPS $3.00-$3.15, consensus $3.58
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07:07 EDTGILGildan Activewear to lower base selling prices
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07:05 EDTGILGildan Activewear sees Q1 EPS about (30c), may not compare to consensus 42c
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07:02 EDTGILGildan Activewear reports Q4 adjusted EPS $1.00, consensus $1.08
Reports Q4 revenue $666M, consensus $713.40M.

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