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Stock Market & Financial Investment News

News Breaks
May 3, 2013
17:48 EDTMTOR, UNPMeritor names Ivor Evans as interim CEO, effective May 3
The Board of Directors of Meritor (MTOR) announced that it has made a change in the position of Chairman of the Board, CEO and President. Effective May 3, Ivor Evans was named Executive Chairman of the Board and Interim CEO and President. Evans, who has been a member of the Board of Directors since 2005, succeeds Charles G. McClure, Jr. who is departing from the company. Evans served as President and COO of Union Pacific Railroad from 1998 until 2004 and as Vice Chairman of Union Pacific (UNP) from January 2004 until his retirement in March 2005.
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August 21, 2014
09:07 EDTMTORMeritor in discussions to sell inventory, assets of its Mascot business
Meritor completed its strategic review of certain remanufacturing product lines within the aftermarket business in North America, and the board of the Company concluded that the company should exit the Mascot business. Mascot is a remanufacturer and distributor of differentials, transmissions and steering gears primarily for certain original equipment manufacturers. The company is in discussions to sell substantially all of its inventory and other assets of its Mascot business. In the event the company is unable to successfully execute a sale transaction, it intends to wind down the Mascot business. The company expects to incur losses on the sale or liquidation of assets of the Mascot business of approximately $24M. The Company also expects to incur severance, other employee costs, and contract termination costs related thereto of an additional $5M. Of these charges, an estimated $5M are expected to result in cash expenditures. The Company is targeting the end of the fourth quarter of fiscal year 2014 for the completion of a sale transaction or a wind down of the Mascot business.
August 18, 2014
07:10 EDTUNPUnion Pacific shares recommended at Credit Suisse
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August 17, 2014
16:00 EDTUNPUnion Pacific freight trains collide in Arkansas killing two, WSJ says
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August 12, 2014
10:00 EDTUNPOn The Fly: Analyst Upgrade Summary
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09:32 EDTUNPUnion Pacific upgraded at Macquarie
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07:57 EDTUNPUnion Pacific upgraded to Outperform from Neutral at Macquarie
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