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Stock Market & Financial Investment News

News Breaks
January 28, 2013
08:18 EDTVNOVornado downgraded to Cautious from Neutral at ISI Group
ISI Group downgraded Vornado due to valuation, weak fundamental data from the DC metro market and concerns regarding its investments in JCPenney and Toys 'R' Us.
News For VNO From The Last 14 Days
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September 30, 2014
17:28 EDTVNOVornado Q3 to include negative FFO of 9c from its 32.7% share of Toys “R” Us’
Vornado Realty Trust announced its 32.7% share of Toys “R” Us’ second quarter financial results that it will record in its third quarter ending September 30. Vornado’s results will include a net loss of $18,418,000 or 9c per diluted share, compared to a net loss of $34,209,000, or 17c per diluted share recorded in the quarter ended September 30, 2013. Vornado’s share of negative Funds From Operations after income taxes for the quarter ending September 30 will be $18,035,000 or 9c per diluted share, compared to negative FFO after income taxes of $22,343,000, or 11c per diluted share in the prior year’s Q3. Vornado’s share of Toys’ FFO will be treated as non-comparable in all periods presented. The business of Toys is highly seasonal; historically, Toys’ fourth quarter net income accounts for more than 80% of its fiscal year net income.

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