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Stock Market & Financial Investment News

News Breaks
January 7, 2013
09:15 EDTSTRS, CMAStratus Properties refinances Comerica revolving credit facility
Stratus Properties (STRS) announced that effective December 31, 2012, it entered into a Loan Agreement with Comerica Bank (CMA) that renews, extends and modifies Stratus' $45.0M credit facility with Comerica, comprised of a $35.0M revolving line of credit and a $10.0M term loan, that was scheduled to mature on December 31, 2012. The Loan Agreement provides for a $48.0M credit facility, divided into three tranches as follows: a $35M revolving line of credit, $3M for letters of credit, and a $10M construction loan. The interest rate applicable to amounts borrowed under each loan is an annual rate of LIBOR plus 4.0%, with a minimum interest rate of 6.0%. The credit facility will mature on November 30, 2014. Proceeds from the revolving loan may be used to fund Stratus' working capital needs, including land acquisitions; however, without prior approval from Comerica, individual land acquisitions shall not exceed $3.0M and aggregate land transactions shall not exceed $10.0M. Proceeds from the letter of credit tranche shall be used to fund additional working capital needs. Proceeds from the construction loan shall be used to develop the regional road and infrastructure for Section N of Barton Creek.
News For STRS;CMA From The Last 14 Days
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July 21, 2014
10:20 EDTSTRSStratus Properties management to meet with Barclays
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July 16, 2014
10:00 EDTCMAOn The Fly: Analyst Upgrade Summary
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07:33 EDTCMAComerica upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded Comerica to Neutral following the better than expected Q2 report citing improving loan growth and potential rate catalysts. Price target is $50.
July 15, 2014
12:56 EDTCMAComerica upgraded to Buy from Hold at Rafferty Capital
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06:49 EDTCMAComerica reports Q2 EPS 80c, consensus 76c
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July 14, 2014
15:24 EDTCMANotable companies reporting before tomorrow's open
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July 10, 2014
10:05 EDTCMAOn The Fly: Analyst Upgrade Summary
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08:38 EDTCMAComerica upgraded to Buy from Neutral at Guggenheim
Guggenheim upgraded Comerica to Buy given exposure to Texas and California loan growth and asset-sensitivity. Price target raised to $58 from $54.

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