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Stock Market & Financial Investment News

News Breaks
April 17, 2014
13:45 EDTRSHRadioShack falls after report that lender talks complicating turnaround
Electronics retailer RadioShack (RSH) is trading significantly lower today after a report that the company's turnaround efforts are being hampered by discussions with lenders. WHAT'S NEW: According to the Wall Street Journal, RadioShack is in heated talks with its lenders over the company's plan to close as many as 1,100 of its 4,300 U.S. stores. On March 4, RadioShack said that it expects to close up to 1,100 stores in the U.S. RadioShack CEO Joseph C. Magnacca said, "Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles... in order to consolidate our store base into fewer locations while maintaining a strong presence in each market. The result of that review is our plan to close up to 1,100 underperforming stores." WHAT'S NOTABLE: According to the Wall Street Journal report, RadioShack is moving forward with its store closings plan but is currently targeting just 200 stores, while some lenders are pushing for as many as 2,000 closings. PRICE ACTION: RadioShack shares are off by 33c, or almost 20%, to $1.36 in afternoon trading.
News For RSH From The Last 14 Days
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September 26, 2014
10:21 EDTRSHStandard General in discussions with RadioShack on new business operating plan
Standard General reports 9.8% stake in RadioShack. Standard General has been in discussions with the company regarding a proposal on a business operating plan and certain ways to improve the company’s liquidity position in advance of the holiday shopping season. Proposals under discussion include Standard General and certain other investors purchasing loans and other commitments under the Company’s asset backed credit facility from its existing lenders. Under such a proposed transaction, Standard General and certain other New Investors may propose to subordinate their investment in the Credit Facility to other investors in order to improve the near-term liquidity available to fund the Company’s holiday working capital needs. Pursuant to such a proposal, the investment by the New Investors could be the first step of a broader recapitalization of RadioShack proposed to be completed by early 2015, which may include Standard General and certain other New Investors acquiring preferred equity convertible into common equity, board nomination rights and corresponding changes to the Company’s structure.
September 24, 2014
11:24 EDTRSHRadioShack sees Fix It Here available to 700 locations by 2014 end
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September 22, 2014
07:22 EDTRSHRadioShack: Discussions with major vendor did not result in any changes
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September 19, 2014
06:03 EDTRSHStocks with implied volatility movement; TAP RSH
Stocks with implied volatility movement; Molson Coors (TAP) 31, RadioShack (RSH) 247 according to iVolatility.
September 18, 2014
05:47 EDTRSHStocks with implied volatility movement; TRW RSH
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