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Stock Market & Financial Investment News

News Breaks
February 3, 2014
07:33 EDTIVCInvacare announces amendment to credit agreement
Invacare announced that it has "successfully" amended its credit agreement effective January 31. The amended agreement provides the company with additional flexibility on its maximum leverage ratio financial covenant through September 30. The company said, "Over the first nine months of 2013, we reduced our debt outstanding by $179.2M to a total debt outstanding of $58.9M as of September 30, 2013. We are confident that we will successfully exit this challenging period and begin to regain our custom power wheelchair market share." The new maximum leverage ratio for the first three quarters of 2014 has been increased as compared to the prior credit agreement. In calculating the company's EBITDA for purposes of determining the ratios, the credit agreement amendment also allows the company to add back to EBITDA up to $20M for one-time cash restructuring charges, representing an incremental increase of $5M from prior credit agreement terms. In order to align its debt capacity and related costs with anticipated needs, the company also has reduced its revolving credit facility to $100M from $250M through the October 2015 maturity date of the facility.
News For IVC From The Last 14 Days
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April 10, 2014
10:00 EDTIVCOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
07:27 EDTIVCInvacare initiated with a Hold at KeyBanc

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