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Stock Market & Financial Investment News

News Breaks
June 11, 2014
09:43 EDTRSHFitch: RadioShack 'does not have material sources of liquidity beyond revolver'
RadioShack's weak Q1 results underscore the material challenges in its core business segments with few options left to stem the declines given a tightening liquidity situation, according to Fitch Ratings. Fitch believes RadioShack does not have material sources of liquidity beyond its revolver, as virtually all of its assets have been pledged to its credit facilities. Fitch expects excess liquidity to be very tight as we approach peak seasonal borrowings, which could prompt a restructuring before year end. Absent an agreement with its lenders, it appears that RadioShack will only be able to close 200 stores in 2014, down from its earlier plan to close up to 1,100 stores. In Fitch's view, closing fewer stores will be a drag on profitability and, more significantly, free cash flow, as it will not provide the much-needed funds from inventory liquidation that RadioShack was anticipating. Fitch downgraded the long-term issuer default rating for RadioShack Corp. to 'CC' from 'CCC' on May 15, reflecting the increasing likelihood that RadioShack will need to restructure its debt within the next 12 months. A further downgrade to 'C' would signify that Fitch believes a default at RadioShack is imminent. This would be reflected by further strain on RadioShack's cash flow and liquidity that impedes the company's day-to-day operations.
News For RSH From The Last 14 Days
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December 19, 2014
06:09 EDTRSHStocks with implied volatility above IV index mean; RSH ACHN
Stocks with implied volatility above IV index mean; RadioShack (RSH) 278, Achillion (ACHN) 269 according to iVolatility.
December 16, 2014
10:53 EDTRSHRadioShack hires FTI Consulting for interim management services
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December 12, 2014
16:25 EDTRSHRadioShack files to sell 150,000 convertible preferred shares
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December 11, 2014
09:31 EDTRSHRadioShack says faces 'signficant challenges' from some lenders on restructuring
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09:24 EDTRSHRadioShack says working to reduce mobile chargebacks
RadioShack says it is changing its incentives to motivate its sales force.
09:16 EDTRSHOn The Fly: Pre-market Movers
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09:13 EDTRSHRadioShack sees bringing marketing spending more in line with peers
RadioShack says marketing spending was curtailed during quarter with no visible impact on store results. Comments from Q3 earnings conference call.
07:04 EDTRSHRadioShack said it began cost reduction initiatives to enhance earnings by $400M
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07:03 EDTRSHRadioShack reports Thanksgiving holiday US retail comparable store sales up 35%
Reports Thanksgiving holiday US mobility comparable sales down 27%.
07:02 EDTRSHRadioShack: Retail segment comparable store sales down 2%
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07:01 EDTRSHRadioShack reports Q3 EPS ($1.58), consensus ($1.04)
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December 10, 2014
15:25 EDTRSHNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Lululemon (LULU), consensus 38c; RadioShack (RSH), consensus ($1.04); Ciena (CIEN), consensus 13c; Methode Electronics (MEI), consensus 55c.
10:24 EDTRSHSprint retreats after Oppenheimer cuts rating to Underperform amid price war
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09:12 EDTRSHRadioShack threatens bankruptcy if cell phone deals not reworked, NY Post says
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December 8, 2014
07:51 EDTRSHRadioShack denies claims of default under $250M credit agreement
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December 7, 2014
17:43 EDTRSHRadioShack looks to amend terms of loan from Salus, Bloomberg says
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December 5, 2014
08:47 EDTRSHRadioShack ending 401(k) matching as part of cuts, Bloomberg reports
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