Nuverra Environmental receives continued listing standard notice from NYSE Nuverra Environmental Solutions announced that it received written notice on November 25 from the New York Stock Exchange that the company had fallen below the NYSE's continued listing standards because the company's average market capitalization has been less than $50M over a consecutive 30 trading-day period and its last reported shareholders' equity was less than $50M. The company intends to submit a business plan to bring it into compliance within the required 18-month timeframe, in accordance with NYSE procedures. Nuverra has 45 days to submit its plan to the NYSE's Listing and Compliance Committee for review and final disposition. If the plan is accepted, the company will have 18 months to regain compliance with the continued listing standards, during which it will be subject to quarterly review for compliance with the plan. If the plan is not accepted, the company will be subject to the delisting process and suspension from the NYSE.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Citrix (CTXS) downgraded to Neutral from Buy at Mizuho... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... Exxon Mobil (XOM) downgraded to Underperform from Market Perform at Raymond James... Hartford Financial (HIG) downgraded to Hold from Buy at Argus... Kinder Morgan (KMI) downgraded to Buy from Conviction Buy at Goldman... Kinross Gold (KGC) downgraded to Market Perform from Outperform at Raymond James... Nuverra Environmental (NES) downgraded to Market Perform from Outperform at Cowen... Oxford Lane (OXLC) downgraded to Hold from Buy at Maxim... SM Energy (SM) downgraded at BMO Capital... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Star Bulk Carriers (SBLK) downgraded to Hold from Buy at Deutsche Bank... StoneCastle (BANX) downgraded to Market Perform from Outperform at Keefe Bruyette... Suncor (SU) downgraded to Hold from Buy at TD Securities... ZS Pharma (ZSPH) downgraded to Neutral from Buy at Citi.