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Stock Market & Financial Investment News

News Breaks
May 14, 2014
09:17 EDTGTIGrafTech responds to 'misleading' claims by Milikowsky Group.
GrafTech International responded to the latest inaccurate and misleading claims outlined by the Daniel and Nathan Milikowsky Group. GrafTech says "On May 13, Nathan Milikowsky issued a press release in which he buried a corrective disclosure that he was asked to make by Royce & Associates in a letter to him dated April 24. GrafTech has had the opportunity to review a copy of the letter that Royce delivered to Mr. Milikowsky. GrafTech’s Board appreciates that Royce values integrity and candor in disclosures and took the initiative to seek corrective action by Mr. Milikowsky. GrafTech’s Board is not surprised that Mr. Milikowsky would wait until the eve of the Annual Meeting to make his 'corrective' disclosure, when he has been in possession of the letter from Royce for nearly three weeks. It is unfortunate that even Mr. Milikowsky’s 'corrective' disclosure did not provide all of the details outlined in the Royce letter. Mr. Milikowsky’s April 22, 2014 SEC filing and May 13, 2014 'corrective' SEC filing continue to misrepresent facts and mislead stockholders. The Board and management team have one goal – to execute our strategy to drive enhanced value for all stockholders. We are confident that we are well-positioned to do just that and we, and stockholders, cannot afford to be derailed. We urge stockholders to vote the WHITE proxy card today if they have not already voted. If stockholders have voted on the blue proxy card, we urge them to change their vote."
News For GTI From The Last 14 Days
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July 29, 2014
08:58 EDTGTIGrafTech sees FY14 EBITDA $135M-$150M
Sees Q3 EBITDA $30M-$40M. Sees 2H effective tax rate ~35%. Cuts FY CapEx view to $85M-$95M from $100M-$110M, cuts FY cash flow from operations view to $125M-$140M from $150M-$180M.
08:58 EDTGTIGrafTech announces $126M non-cash impairment charge, additional initiatives
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08:57 EDTGTIGrafTech sees Q2 adjusted EPS (5c), consensus 1c
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08:56 EDTGTIGrafTech evaluating structure of Industrial Materials, Engineered Solutions
The company is reevaluating its business structure of the Industrial Materials and Engineered Solutions segments and the ongoing needs to support those businesses. The company expects to complete this assessment over the next quarter. Anticipated actions under consideration include a combination of layoffs, attrition, early retirement, reduced contractor costs and other cost savings initiatives designed to simplify work processes and drive greater accountability.

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