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Stock Market & Financial Investment News

News Breaks
January 23, 2013
08:33 EDTSSWSeaspan signs newbuilding contracts for SAVER Design vessels
Seaspan announced that it has signed contracts for the construction of four 10,000 TEU class newbuilding containerships at Jiangsu New Yangzi Shipbuilding and Jiangsu Yangzi Xinfu Shipbuilding. The vessels are scheduled for delivery in 2014 and will be constructed using Seaspan's fuel efficient SAVER design. Concurrently with executing the newbuilding contracts, Seaspan signed long term, fixed-rate time charters for these vessels with Mitsui O.S.K. Lines. In connection with this transaction, Seaspan has also agreed to purchase from MOL four 2003-built 4,600 TEU class second hand vessels, for delivery in the second half of 2013 and first quarter of 2014, and has signed short-term fixed-rate time charters for these vessels with MOL.
News For SSW From The Last 14 Days
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July 29, 2014
09:36 EDTSSWSeaspan downgraded to Underperform from Neutral at BofA/Merrill
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July 28, 2014
17:59 EDTSSWSeaspan reports Q2 non-GAAP EPS 19c, consensus 21c
Reports Q2 revenue $173.87M, consensus $175.13M.
July 21, 2014
10:02 EDTSSWOn The Fly: Analyst Upgrade Summary
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05:46 EDTSSWSeaspan upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Seaspan to Outperform citing a compelling risk/reward profile given the 6% dividend yield. The firm raised its price target for shares to $26-$28 from $19-$20.

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