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Stock Market & Financial Investment News

News Breaks
June 30, 2014
07:50 EDTWLTS&P lowers Walter Energy rating to 'CCC+' with negative outlook
Standard & Poor's Ratings Services said late Friday that it lowered its corporate credit rating on Walter Energy to "CCC+" from "B-". "We lowered the ratings on the company's senior secured credit facilities and 9.5% senior secured first-lien notes to 'B-' from 'B'. The recovery rating on the debt remains '2', indicating our expectation of substantial recovery in the event of a payment default...The negative outlook reflects our expectation that weak met coal market conditions will persist, which will pressure the company's liquidity position. We also expect very weak credit measures in 2014, with debt leverage above 20x and EBITDA interest coverage of less than 1x in 2014," said Standard & Poor's.
News For WLT From The Last 14 Days
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October 30, 2014
09:14 EDTWLTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Visa (V), up 4%... MasterCard (MA), up 2.5%... Alcatel-Lucent (ALU), up 12.5%... TASER (TASR), up 4%... JDSU (JDSU), up 3.8%... Radian Group (RDN), up 9%... DreamWorks Animation (DWA), up 1.7%... Take-Two (TTWO), up 7.7%. ALSO HIGHER: Grand Canyon (LOPE), up 10.5%, upgraded at Piper Jaffray after the company formed a committee to explore conversion to a nonprofit entity... Walter Energy (WLT), up 6.8% after lowering FY14 capital expenditures view, reporting lower than expected losses... Novavax (NVAX), up 7% after getting fast track designation for H7N9 VLP. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 16.6%... Alliance Fiber Optic (AFOP), down 18.4%... Pacira (PCRX), down 6.4%. ALSO LOWER: Sturm, Ruger (RGR), down 10% following Q3 results, cutting Q3 dividend. Peer gunmaker Smith & Wesson (SWHC) also down 3.7% after Ruger's report... Western Gas Partners (WES), down 4.4% after its 7.5M common units spot secondary priced at $70.85... ACCO Brands (ACCO), down 1.1%, downgraded at KeyBanc following the company's Q3 results... Fiat Chrysler (FCAU), down 1.1% after reported to be recalling over 300K Ram trucks due to fire concern... Inogen (INGN), down 2.3% after 2.1M share secondary offering of common stock priced at $21.50.
08:25 EDTWLTWalter Energy reports end Q3 liquidity $623.9M
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07:42 EDTWLTWalter Energy sees FY14 met coal production 9.5 MMTs, lowers capex view
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07:40 EDTWLTWalter Energy reports Q3 met coal sales volumes 2.3 MMTs
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07:39 EDTWLTWalter Energy reports Q3 adjusted EPS ($1.58), consensus ($1.63)
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October 28, 2014
10:45 EDTWLTCONSOL rises after acknowledging long-term thermal coal MLP opportunity
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