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Stock Market & Financial Investment News

News Breaks
March 11, 2014
08:01 EDTSXC, SXCPSunCoke Energy to pursue sale of Coal Mining business
SunCoke Energy (SXC) announced its Board of Directors supports managementís plan to drop down over time the Companyís entire domestic coke business to SunCoke Energy Partners, L.P. (SXCP). SXC is the sponsor, general partner and largest unitholder of SXCP, holding a 56% limited partnership interest and all the incentive distribution rights. The company also announced its strategic intent to exit the Coal Mining business. As a part of managementís multi-year plan, the Board of Directors approved the initial dropdown of a 33% interest in the Haverhill and Middletown cokemaking operations, in which SXCP already holds a 65% interest. SXC will continue to retain a 2% interest in both facilities. Although terms have not yet been finalized, SXC anticipates SXCP will finance this transaction through a combination of equity and debt. The company said "While our Coal Mining team has delivered significant improvement in productivity, safety and production costs, we believe shareholder value will increase if we exit this business. We have retained an advisor and are currently evaluating strategic options in this regard.Ē
News For SXC;SXCP From The Last 14 Days
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August 21, 2014
07:50 EDTSXC, SXCPSunCoke Energy price target raised to $28 from $26 at Brean Capital
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August 20, 2014
10:04 EDTSXCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.
07:25 EDTSXCSunCoke Energy downgraded to Neutral from Outperform at Credit Suisse
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