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Stock Market & Financial Investment News

News Breaks
January 6, 2014
08:57 EDTMTWManitowoc enters into new senior secured credit facilities
Manitowoc announced the closing of its new senior secured credit facilities in the aggregate amount of $1.05B. The refinancing includes a revolving facility of $500M with a term of five years, a Term Loan “A” facility of $350M with a term of five years, and a Term Loan “B” facility of $200M with a term of seven years. This new credit facility extends the maturity dates of the company’s revolving credit facility and term loans from 2016 and 2017 to 2018 and 2020, respectively. The spread over the applicable LIBOR rate paid under the new revolving and Term Loan “A” facilities at the close declined 75 basis points to 2.25%, or alternatively, to 1.25% in excess of an alternate base rate, at the company’s option.
News For MTW From The Last 14 Days
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July 31, 2014
11:20 EDTMTWHigh option volume stocks:
High option volume stocks: AMRN EWT HIMX PTEN URBN MTW VPRT MTH OTEX ZLTQ
July 30, 2014
17:20 EDTMTWManitowoc lowers 2014 guidance for Crane segment revenue
Manitowoc is lowering its 2014 guidance for Crane segment revenue and Foodservice operating margins, as well as its full-year effective tax rate and amortization of deferred financing fees, while reaffirming all other key full-year financial metrics. Manitowoc now expects: Crane revenue - flat to slightly down; Foodservice operating margins - mid-teens percentages.
17:19 EDTMTWManitowoc reports Q2 adjusted EPS 35c, consensus 42c
Reports Q2 revenue $1.01B, consensus $1.06B. The company said, "Our results for the quarter fell short of our expectations with disappointing top-line performance in Cranes driven by uncertainty spanning certain end markets, as well as limited margin expansion in Foodservice. However, our ability to react swiftly, maintain responsive cost controls, and enhance our operational efficiencies should help mitigate the impact on our overall profitability for the year. We are committed to executing our strategies across the enterprise, in spite of some of the challenges we faced in the first half of the year."
July 22, 2014
16:32 EDTMTWManitowoc receives favorable initial determination in patent infringement suit
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