New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 5, 2013
07:17 EDTTS, TXTernium named in CSN lawsuit
Ternium S.A. (TX) announced that it was made aware by Tenaris S.A. (TS) of the filing of a lawsuit in Brazil by Companhia Siderurgica Nacional, or CSN, and various entities affiliated with CSN against Ternium Investments S.ar.l., its subsidiary Siderar, and Confab Industrial S.A., a Brazilian subsidiary of Tenaris. The entities named in the CSN lawsuit had acquired a participation in Usinas Siderurgicas de Minas Gerais S.A. - Usiminas in January 2012. As informed by Tenaris, the CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all minority holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in such acquisition, or 28.8 Brazilian reais, and seeks an order to compel the acquirers to launch an offer at that price plus interest. Ternium believes that CSN's allegations are groundless and without merit, as confirmed by several opinions of Brazilian counsel and previous decisions by Brazil's securities regulator Comissao de Valores Mobiliarios, including a February 2012 decision determining that the above mentioned acquisition did not trigger any tender offer requirement. Accordingly, Ternium will defend itself vigorously.
News For TX;TS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 30, 2015
09:32 EDTTXTernium upgraded to Overweight from Neutral at JPMorgan
Subscribe for More Information
June 29, 2015
10:09 EDTTXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Assured Guaranty (AGO) downgraded to Neutral from Buy at BTIG... Capital Bank (CBF) downgraded to Hold from Buy at Sandler O'Neill... F5 Networks (FFIV) downgraded to Neutral from Overweight at Piper Jaffray... First BanCorp (FBP) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Hold at Jefferies following spin-off... IBERIABANK (IBKC) downgraded to Hold from Buy at Sandler O'Neill... JPMorgan (JPM) downgraded to Perform from Outperform at Oppenheimer... KYTHERA (KYTH) downgraded to Market Perform from Outperform at Leerink... MBIA (MBI) downgraded to Neutral from Buy at BTIG... Macy's (M) downgraded to Sell from Buy at Deutsche Bank... MarketAxess (MKTX) downgraded to Underperform from Neutral at Macquarie... Nutrisystem (NTRI) downgraded to Market Perform from Outperform at Barrington... Park Sterling Bank (PSTB) downgraded to Hold from Buy at Sandler O'Neill... Popular (BPOP) downgraded to Neutral from Buy at Guggenheim... Qualcomm (QCOM) downgraded to Sell from Hold at Drexel Hamilton... SunTrust (STI) downgraded to Perform from Outperform at Oppenheimer... Ternium (TX) downgraded to Neutral from Buy at BofA/Merrill... Xoom (XOOM) downgraded to Neutral at Susquehanna... Youku Tudou (YOKU) downgraded to Underperform from Neutral at Mizuho.
07:08 EDTTXTernium downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Ternium to Neutral and lowered its price target to $21 from $23. The firm sees margin compression ahead driven by declines in North American steel prices.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use