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Stock Market & Financial Investment News

News Breaks
December 6, 2012
12:19 EDTSXCSunCoke Energy to host investor day
Investor day to be held on December 11 at 2 pm. Webcast Link
News For SXC From The Last 14 Days
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December 17, 2014
10:02 EDTSXCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Google (GOOG) upgraded to Buy from Hold at Pivotal Research... Twitter (TWTR) upgraded to Buy from Hold at Pivotal Research... Aaron's (AAN) upgraded to Buy from Hold at KeyBanc... Calpine (CPN) upgraded to Buy from Hold at Deutsche Bank... Check Point (CHKP) upgraded to Buy from Hold at Deutsche Bank... Columbia Sportswear (COLM) upgraded to Buy from Neutral at Goldman... Dakota Plains Holdings (DAKP) upgraded to Buy from Hold at Canaccord... SunCoke Energy (SXC) upgraded to Outperform from Neutral at Credit Suisse... Taylor Morrison (TMHC) upgraded to Buy from Hold at Evercore ISI... Teck Resources (TCK) upgraded to Buy from Neutral at UBS... VeriFone (PAY) upgraded to Overweight from Equal Weight at Barclays... Motorola Solutions (MSI) upgraded to Buy from Hold at Argus... Approach Resources (AREX) upgraded to Neutral from Reduce at Global Hunter... HealthSouth (HLS) upgraded to Outperform from Market Perform at Raymond James... QLogic (QLGC) upgraded to Overweight from Equal Weight at Morgan Stanley... Baker Hughes (BHI) upgraded to Focus List from Outperform at Howard Weil... Kansas City Southern (KSU) upgraded to Overweight from Equal Weight at Stephens... BlackBerry (BBRY) upgraded to Buy from Hold at BGC Financial.
06:38 EDTSXCSunCoke Energy upgraded to Outperform from Neutral at Credit Suisse
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December 16, 2014
08:06 EDTSXCSunCoke Energy coal exit already priced into shares, says Brean Capital
Brean Capital noted SunCoke Energy's exit from the coal business was more expensive than expected, but the firm believes it is already priced into the company's share price. The firm sees the exit providing a good time to revisit the story as an attractive cash-flow investment with low commodity price exposure. Brean Capital reiterated its Buy rating but lowered its price target to $25 from $27 on SunCoke Energy shares.
December 15, 2014
07:35 EDTSXCSunCoke Energy to incur one-time cash costs of $25M-$35M related to plans
The company expects to incur one-time cash costs of $25 million to $35 million related to its plans to downsize its coal operations including: The previously disclosed estimated expense of approximately $10 million primarily related to contract terminations, which will be incurred primarily in fourth quarter 2014; Anticipated employee severance and other one-time costs to idle mines of $10 million to $15 million to be recognized in fourth quarter 2014 and early 2015; Expected capital expenditures of $5 million to $10 million in 2015 to demolish its coal preparation plant and install additional coal handling and storage to enable third-party coal purchases for its Jewell facility. In view of its Coal Mining business downsizing plans, SunCoke says "We expect to recognize non-cash charges related to worker's compensation, asset reclamation, black lung liability and other post-employment benefits liabilities. Further, we will also evaluate the recoverability of the long-lived assets of the Coal Mining business to determine if the carrying value of the assets is recoverable. Unrelated to the coal downsizing plans, we now estimate that due to anticipated changes in discount rates and claim approval rates our incremental black lung charge in the fourth quarter will be approximately $15 million versus our original estimate of $8 million."
07:34 EDTSXCSunCoke begins executing contingency plan to downsize coal mining business
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