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Stock Market & Financial Investment News

News Breaks
June 30, 2014
08:31 EDTMTZMasTec expands acquires Paper Construction
MasTec announced that it has acquired Pacer Construction Holdings Corporation and its affiliated operating companies. Pacer is a contractor in Western Canada, focusing on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries. Pacer is headquartered in Calgary, Alberta, Canada and also has a strong presence in, among other locations, Fort McMurray, Fort McKay and Edmonton, Alberta and Regina, Saskatchewan. MasTec acquired all of the issued and outstanding equity interests of Pacer for approximately $126M in cash plus a 5-year contingent earn-out. At closing, Pacer had approximately $54M in tangible net worth. MasTec also amended its senior secured credit facility, increasing the aggregate borrowing commitments from $750 million to $1 billion, adding the capability to borrow in Mexican Pesos and increasing the amount that can be borrowed in these alternative currencies from $100 million to $200 million.
News For MTZ From The Last 14 Days
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November 17, 2014
08:32 EDTMTZMasTec upgraded to Buy from Neutral at DA Davidson
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November 10, 2014
10:04 EDTMTZOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:39 EDTMTZFollow-up: MasTec downgraded at BB&T
As previously reported, BB&T downgraded MasTec (MTZ) to Hold from Buy. On Friday, MasTec's largest customer, AT&T (T), lowered 2015 capex guidance by almost 15% year-over-year, and as a result, lowered its revenue estimate by $150M.
09:12 EDTMTZMasTec downgraded to Hold from Buy at BB&T
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