New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 18, 2013
12:35 EDTTRK, SAHSonic Automotive drops after delay in annual report filing
Sonic Automotive (SAH) is sinking after the company disclosed in a regulatory filing earlier today that it would delay filing its annual report to the SEC due to a material weakness in its dealership level accounting processes. Sonic said itís in the process of completing the report and that it believes final financial results will be the same as reported on February 20. The company also indicated that it had amended a credit agreement. Sonic said that the change to its credit agreement would eliminate the company's pledge of 5M shares of Speedway Motorsports (TRK) as collateral for the amount due under a credit facility. The use of the stock as collateral had increased Sonic's borrowing availability by $33.5M as of December 31, Sonic stated. The company said the change would reduce its liquidity, but it added that it still believes that it has enough liquidity to conduct its operations and meet the terms of its debt agreements. The lenders that extended the amended credit facility, which was worth a maximum of $175M before the recent change, do not object to Sonic's material weakness statement, Sonic reported. As a result, Sonic said it will not be in default under the terms of the credit agreement. In early afternoon trading, Sonic gave back $1.10, or 4.5%, to $23.25.
News For SAH;TRK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 27, 2015
07:33 EDTSAHSonic Automotive appoints Scott Smith as CEO
Subscribe for More Information
July 22, 2015
10:01 EDTSAHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
07:25 EDTSAHSonic Automotive upgraded to Neutral at BofA/Merrill
Subscribe for More Information
06:39 EDTSAHSonic Automotive upgraded to Buy from Neutral at BofA/Merrill
Subscribe for More Information
July 20, 2015
10:13 EDTSAHSonic Automotive reaffirms FY15 adjusted EPS $1.85-$1.95, consensus $1.91
Subscribe for More Information
10:12 EDTSAHSonic Automotive says EchoPark continues to exceed internal budget
10:07 EDTSAHSonic Automotive continues to be 'active' in the acquisition market
Subscribe for More Information
09:39 EDTSAHSonic Automotive sees FY15 CapEx $103.5M
Subscribe for More Information
09:39 EDTSAHSonic Automotive reports Q2 EchoPark EPS (5c), revenue $21M
Expects growth plans in EchoPark to accelerate in latter half of the year. Comments taken from slides for Q2 earnings conference call.
07:35 EDTSAHSonic Automotive reports Q2 total new vehicle revenue $1.30B
Subscribe for More Information
07:32 EDTSAHSonic Automotive reports Q2 total gross profit up 2.5% to $355.6M
07:32 EDTSAHSonic Automotive reports Q2 adjusted EPS 46c, consensus 47c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use