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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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January 22, 2015
17:03 EDTRSHRadioShack receives continued listing standards notice from NYSE
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January 20, 2015
05:49 EDTRSHStocks with implied volatility movement; RSH AMD
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January 15, 2015
18:46 EDTRSHRadioShack delaying rent payments as bankruptcy looms, WSJ reports
RadioShack has withheld paying January rent on some stores as the company struggles to save cash, according to the Wall Street Journal, citing unnamed sources. A RadioShack spokeswoman has declined to comment on the matter. Reference Link
15:33 EDTRSHRadioShack in talks for bankruptcy loan with lenders, Bloomberg says
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09:36 EDTRSHActive equity options trading
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09:15 EDTRSHOn The Fly: Pre-market Movers
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06:27 EDTRSHRadioShack could file for bankruptcy as early as next month, WSJ reports
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January 14, 2015
05:52 EDTRSHStocks with implied volatility movement; RSH ECOM
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