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Stock Market & Financial Investment News

News Breaks
June 26, 2014
10:11 EDTTSCO, CNP, BBBY, IM, COCO, EDMC, WUBA, UNXL, DHigh option volume stocks
High option volume stocks: TSCO CNP JBHT BBBY IM COCO EDMC WUBA UNXL D
News For TSCO;CNP;BBBY;IM;COCO;EDMC;WUBA;UNXL;D From The Last 14 Days
Check below for free stories on TSCO;CNP;BBBY;IM;COCO;EDMC;WUBA;UNXL;D the last two weeks.
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August 27, 2014
10:13 EDTEDMCHigh option volume stocks
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08:39 EDTEDMCEducation Management reaches agreement in principle on debt restructuring
Education Management announced it has reached agreement in principle regarding a financial restructuring with holders of more than 80% of its secured and unsecured financial indebtedness. The company's Board of Directors has approved the restructuring. The company is seeking support for its restructuring plan from the remaining lenders and bondholders. The proposed restructuring will reduce the company's funded debt by approximately $1.1B, providing for the exchange of approximately $1.5B of outstanding debt as of June 30 for $400M of new debt, preferred equity interests that would be convertible into common shares and warrants for the purchase of common shares. The company's existing shareholders would retain 4% of the outstanding common stock after giving effect to the conversion of the new preferred stock and receive warrants to purchase an additional 5% of the common stock. The comprehensive, multi-step restructuring remains subject to applicable regulatory approvals and a shareholder vote, which the company expects to complete in 2015. Pending consummation of the restructuring, the company will enter into an amendment to its senior credit facility to waive all financial covenants through June 30, 2015, substantially decrease cash interest expense and require no principal amortization payments through June 30, 2015, and extend the maturity of the revolving credit facility through July 2, 2015.
August 26, 2014
07:25 EDTCOCOITT Educational has negative read through from Corinthian, says Wells Fargo
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August 25, 2014
17:55 EDTCOCOCorinthian Colleges says need to obtain additional sources of liquidity
In a regulatory filing, Corinthian Colleges disclosed that the company has entered into a Consent and Amendment No. 4 to Credit Agreement, dated as of August 19, by and among the company, Everest Colleges Canada, the Guarantors party thereto, the Lenders party thereto and Bank of America, as Domestic Administrative Agent and Canadian Agent...As previously reported by the company, the company has been, and is, seeking additional sources of liquidity through, among other things, asset sales. On August 20, the company sold to an unrelated third party, on a non-recourse basis, after conducting a bid process, a portfolio of student loans for approximately $19M. The company’s decision to sell certain of its student loans which it had previously intended to hold for investment resulted in a change in the accounting treatment for such loans from “held for investment” to “held for sale.” the company concluded on August 19 that an impairment charge is required of approximately $55M to $59M. The company expects to include the impairment charge in its consolidated financial statements for the fiscal year ended June 30...Additionally, the CFPB requested certain documents relating to a recently-completed sale of student notes and certain information relating to the student loans that the company continues to hold and any private lending arrangements to which the company is currently a party...The company added that Corinthian Colleges continues to need to obtain additional sources of liquidity to fund its operations and to implement the agreements contemplated by the Operating Agreement. To do so, the company will continue to seek additional sources of liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof. There can be no assurance that the company will be able to obtain any such additional needed liquidity on a timely basis, on terms acceptable to it, or at all. Any withholding of Title IV funds by ED, or further restrictions on funding or operations by accrediting agencies, state agencies, or other funding sources would exacerbate the company’s existing liquidity constraints.
11:11 EDTWUBAOptions with decreasing implied volatility
Options with decreasing implied volatility: AMPE FOLD ITMN AEO DKS WUBA URBN SPLS YOKU GME
07:23 EDTCOCOGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
August 24, 2014
21:23 EDTEDMCLender group set to offer EDMC revised debt package, NY Post says
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August 22, 2014
10:06 EDTWUBAOptions with decreasing implied volatility
Options with decreasing implied volatility: AMPE FOLD GME YOKU SPLS DKS WUBA ARWR ACHN
10:01 EDTWUBAOn The Fly: Analyst Downgrade Summary
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08:26 EDTWUBA58.com downgraded to Underweight from Equal Weight at Morgan Stanley
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07:48 EDTWUBA58.com downgraded to Underweight from Equal Weight at Morgan Stanley
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August 21, 2014
09:44 EDTWUBA58.com falls after results, outlook
Shares gapped down at the open to $46.15 and have bounced slightly following earnings and outlook from the company before the bell. At the current price of $46.72, support is at $46.15 and the low of the day at $45.30. Resistance is at $47.24, the session high so far, and then at $48.59.
09:07 EDTWUBAOn The Fly: Pre-market Movers
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August 20, 2014
20:05 EDTWUBA58.com sees Q3 revenues $66M-$68M, consensus $72.60M
20:04 EDTWUBA58.com reports Q2 adjusted EPS 15c, consensus 8c
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15:26 EDTWUBANotable companies reporting before tomorrow's open
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10:04 EDTCNPOn The Fly: Analyst Upgrade Summary
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07:23 EDTCNPCenterPoint Energy upgraded to Buy from Hold at Argus
Argus upgraded CenterPoint Energy to Buy based on an expanding infrastructure improvement program, new master limited partnership, better visibility, and a solid base of regulated assets. Price target is $29.
August 19, 2014
13:21 EDTTSCOEarnings Preview: Lowe's trading higher ahead of Q2 earnings report
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its second quarter before the market open on Wednesday, August 20, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.02 on revenue of $16.55B, according to First Call. The consensus range for EPS is 96c-$1.06 on revenue of $16.16B-$16.79B. LAST QUARTER: Lowe's reported first quarter EPS of 61c, beating analyst's estimates of 60c, on revenue of $13.4B against estimates for $13.86B. The company also reported Q1 same-store sales rose 0.9%. Lowe's raised its fiscal year 2014 EPS guidance to approximately $2.63 from $2.60 against estimates at that time for $2.62 and said it expects revenue up 5% in this fiscal year compared to last. Lowe's said it expected to open 10 home improvement and 5 hardware stores in 2014 and expects its FY14 SSS to increase approximately 4%. The company expects to repurchase $3.4B of stock this fiscal year. NEWS: During the quarter, Lowe's named Paul Ramsay as Chief Information Officer. The company also raised its quarterly dividend 27.8% to 23c per share. STREET RESEARCH: Deutsche Bank lowered its estimates for both Lowe's and Home Depot (HD) after Tractor Supply (TSCO) and Lumber Liquidators (LL) pre-announced Q2 comp misses. The firm, which noted that the negative earnings revision is "relatively minor," said that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. Morgan Stanley initiated Lowe's with an Equal Weight rating and $50 target in June. Canaccord downgraded Lowe's to Sell from Hold due to slowing housing momentum, management changes, and difficult competition. PRICE ACTION: Over the last three months, Lowe's shares are up almost 14%. In morning trading ahead of tomorrow's report, Lowe's is up nearly 3% to $51.89.
August 18, 2014
11:25 EDTTSCOEarnings Preview: Home Depot shares up nearly 9% since last earnings report
Home Depot (HD), a home improvement retailer, is scheduled to report second quarter results before the market opens on Tuesday, August 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.45 on revenue of $23.62B, according to First Call. The consensus range for EPS is $1.41-$1.49 on revenue of $22.9B-$24.08B. LAST QUARTER: Home Depot reported first quarter EPS of $1.00 against estimates for 99c on revenue of $19.69B against estimates of $19.95B. The company said same-store sales increased 2.6%, with U.S. SSS up 3.3%. The company raised its fiscal year 2014 EPS view to $4.42 from $4.38 against estimates at that time for $4.42. The retailer also backed its FY14 sales growth view of up 4.8% from fiscal year 2013. On its Q4 earnings conference call, Home Depot forecast gross margins for FY14 would be "about the same" as last year. For the remainder of the year, the company said its view on the housing market recovery had not changed. NEWS: At Oppenheimer's 14th Annual Consumer Conference in June, Home Depot reaffirmed its 4.8% sales growth view for the year and said SSS growth would be 4.6%. The company also said it expected $7B in share repurchases for FY14. The retailer also said it intends to increase its dividend every year. The Wall Street Journal said Home Depot is among the retailers betting that consumer basics, like toilet paper or detergent, will increase sales and lure shoppers into stores. STREET RESEARCH: Citigroup expects Home Depot shares will continue outperforming Lowe's (LOW) in the near-term given its store base concentration and better merchandising effort on the Pro side. Deutsche Bank lowered its estimates for both Home Depot after Tractor Supply (TSCO) and Lumber Liquidators (LL) pre-announced Q2 comp misses. The firm, which noted that the negative earnings revision is "relatively minor," said that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. PRICE ACTION: Over the last three months, Home Depot shares are up almost 9%. Year-to-date, shares are up over 2%.
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