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Free Loan-Repayment Processing Helps Microfinance Nonprofit Grameen America Increase Macro Impact on Women

SUNNYVALE, CA and LOS ANGELES, CA–(Marketwired – March 04, 2015) – Grameen America, a nonprofit microfinance organization that helps women in poverty start and expand small businesses, and PayNearMe, the electronic cash transaction network, today announced implementation of PayNearMe as a free new loan repayment option for Grameen America’s borrowers.

After a successful launch in Charlotte, North Carolina, the organization will now roll out the electronic cash transaction network in branches across the country beginning with Oakland, California and Brooklyn, New York.

Many of Grameen’s 43,000 members use their loans to start sole-proprietor businesses such as jewelry resale and nail design, which allows them to support their families while also giving them a flexible schedule to take care of their children. The majority of these businesses operate in cash. Using PayNearMe, borrowers are able to repay their loans using cash at their local 7-Eleven store.

“This innovative partnership is a remarkable advancement for our program that benefits our borrowers and staff alike,” said Andrea Jung, Grameen America’s president and CEO. “PayNearMe has made the payment collection process easier and more efficient. PayNearMe’s cutting-edge technology allows us to expand opportunities and extend access to financial services to thousands of aspiring entrepreneurs from New York to California.”

By eliminating the need to count, collect and deposit cash repayments, Grameen staff gain 40 minutes each day that they can spend with borrowers, providing financial education and facilitating problem-solving for the borrowers’ businesses. Using PayNearMe streamlines Grameen’s accounting processes while enhancing financial controls and efficiencies, which will allow the organization to build capacity to reach 150,000 women by 2018.

“We no longer stress about the amount of cash we are carrying to the bank, and the borrowers feel safer not having to congregate in one place every week with large chunks of cash,” said Ursula Lalone, Grameen’s Charlotte, North Carolina center manager. “With PayNearMe, we don’t have to count and collect cash. It’s a huge advantage to focus our meetings on helping the women invest, save and grow their businesses.”

Most of the 7,800 participating 7-Eleven stores nationwide are open 24 hours a day, seven days a week, making it easy and convenient for borrowers with even the most complex schedules to stay on top of their loan repayments.

To make a payment, a borrower simply walks into the 7-Eleven, hands the cashier their PayNearMe payment code and the cash payment. Additionally, if they choose to pick up some groceries while they are in the store, they can pay for everything in one easy transaction.

“Grameen America is living proof that the term ‘micro’ is relative,” said Danny Shader, PayNearMe’s founder and CEO. “A microloan to one person can make a macro impact on another. We’re proud to support Grameen’s work by offering this payment option at no cost to the borrowers. Everyone should have a right to pay the way they are paid, without having to jump through hoops.”

About PayNearMe
PayNearMe is the electronic cash transaction network that enables consumers to pay rent and utility bills, repay loans, buy tickets, make online purchases and do much more with cash. Consumers can conveniently make payments on their own schedule and in their own neighborhood in less than a minute at one of over 17,000 trusted locations, including 7-Eleven® and Family Dollar® stores across the United States. For more information, please visit: http://www.PayNearMe.com.

About Grameen America
Founded by Nobel Peace Prize recipient Muhammad Yunus, Grameen America is a 501(c)3 nonprofit microfinance organization dedicated to helping women who live in poverty build small businesses to create better lives for their families. Grameen America offers microloans, training and support to transform communities and fight poverty in the United States. Since opening in January 2008, Grameen America has invested over $230 million in more than 43,000 women. Started in Jackson Heights, Queens, Grameen America has expanded across New York City and in Indianapolis, IN, Omaha, NE, Oakland, CA, Charlotte, NC, Los Angeles, CA, San Jose, CA, Austin, TX, Union City, NJ, San Juan, PR and Boston, MA. Learn more at www.grameenamerica.org.

Image Available: http://www.marketwire.com/library/MwGo/2015/3/4/11G034841/Images/Grameen_Open_Sign-757360835081.jpg

[…]

InPlay from Briefing.com

7:52 am Quad/Graphics: definitive agreement between Quad/Graphics and Courier Corporation terminated (QUAD) : On January 27, 2015, Courier received an unsolicited offer from RR Donnelley of $23.00 per share in cash or stock, subject to pro ration. Quad/Graphics declined to negotiate further. Accordingly, Courier terminated its agreement with Quad/Graphics on February 5, 2015, and will pay Quad/Graphics a $10 million termination fee.

7:51 am Leidos Awarded Contract by NATO to provide systems engineering and integration support for the Ballistic Missile Defense Programme Office; total contract value of $77 mln if all options are exercised (LDOS) :

7:49 am First Bancorp beats by $0.01 (FBP) : Reports Q4 (Dec) earnings of $0.12 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.11.

Provision for loan and lease losses for the quarter decreased by $3.1 million to $23.9 million, mainly reflecting a reduction in net charge-offs, reserve releases due to improvements in the risk classification of certain commercial and industrial loans, and a decline in the migration of commercial mortgage loans to a worse loan classification.Non-performing assets decreased by $27.7 million, or 4%, to $716.8 million.Non-performing loans, including non-performing loans held for sale, decreased by $35.6 million to $578.5 millionNew non-performing loan inflows decreased by $16.9 million to $64.2 million, or 21%, compared to inflows of $81.1 million in the third quarter of 2014.Total capital, Tier 1 capital, and leverage ratios of 19.16%, 17.89%, and 12.54%, respectively, as of December 31, 2014. Common equity Tier 1 capital ratio of 14.93% and tangible common equity ratio of 10.35% as of December 31, 2014.

7:45 am PMFG Inc misses by $0.06, beats on revs; raises FY15 revs above consensus (PMFG) : Reports Q2 (Dec) loss of $0.06 per share, $0.06 worse than the Capital IQ Consensus Estimate of ($0.00); revenues rose 38.2% year/year to $40.9 mln vs the $37.4 mln consensus.

The year over year growth in revenue is largely attributed to increased revenue in the United States and EMEA regions. The acquisition of the assets of CCA Combustion Systems (“CCA”) in March 2014 combined with higher demand for environmental solutions resulted in a greater than 150 percent increase in revenue in the Environmental Systems operating segment. Increased demand for steam separators utilized in the nuclear power generation industry and oily water separation solutions for the oil production industry resulted in a nearly nine percent year over year increase in the Process Products operating segment revenue.

Co issues

upside guidance

for FY15, raises FY15 revs to $160-170 mln from $150-160 mln vs. $158.99 mln Capital IQ Consensus, with the increase over prior projections largely attributed to the continued strength of our Environmental Systems segment..

“we remain cautious with regard to the impact of lower relative oil and natural gas prices, timing and trajectory of the natural gas infrastructure build-out in China and the timing of certain nuclear re-licensing and upgrade projects… Gross margins in the back half of the year are anticipated to be in line with those recognized in the first half of the fiscal year. The improvement in margin over the Company’s guidance issued in September 2014 is attributed in part to the operational initiatives that first began in the second half of fiscal 2014. Operating expenses are expected to decline modestly over the back half of the year as we reduce the spending on information technology expansion and operational improvement initiatives.

7:42 am Suburban Propane misses by $0.28, misses on revs (SPH) : Reports Q1 (Dec) earnings of $0.92 per share, $0.28 worse than the Capital IQ Consensus Estimate of $1.20; revenues fell 19.6% year/year to $422.9 mln vs the $481.11 mln consensus.

Revenue declined primarily due to lower retail propane and fuel oil volumes sold and, to a lesser extent, lower retail selling prices associated with lower wholesale product costs.
The first quarter of fiscal 2015 was characterized by a rapidly declining commodity price environment and unseasonably warm weather throughout much of the quarter. In particular, the month of December 2014 was one of the warmest on record, thus negatively impacting volumes sold in the quarter. The impact of lower volumes was somewhat offset by higher margins resulting from the sharp decline in wholesale product costs and savings in operating expenses.” “With the lower commodity price environment experienced during Q1 of FY15, we funded all working capital needs from cash on hand without the need to borrow under our revolving credit facility, and ended the quarter with $62.0 million of cash. With the heart of the fiscal 2015 heating season still ahead, our personnel are poised to react as the weather pattern returns to more normal temperatures reflective of the season.”

7:41 am Belden beats by $0.03, reports revs in-line; guides Q1 EPS in-line, revs below consensus; guides FY15 EPS in-line, revs below consensus (BDC) : Reports Q4 (Dec) adjusted earnings of $1.24 per share, $0.03 better than the Capital IQ Consensus Estimate of $1.21; revenues rose 19.4% year/year to $608.9 mln vs the $603.02 mln consensus.

Guidance: Co issues mixed guidance for Q1, sees EPS of $0.94-$1.04 vs. $1.03 Capital IQ Consensus Estimate; sees Q1 revs of $565-$585 vs. $595.62 mln Capital IQ Consensus Estimate.

Co issues mixed guidance for FY15, sees EPS of $5.28-$5.58 vs. $5.51 Capital IQ Consensus Estimate; sees FY15 revs of $2.475-$2.525 bln vs. $2.58 bln Capital IQ Consensus Estimate.

7:40 am Graphic Packaging beats by $0.06, reports revs in-line (GPK) : Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.15; revenues fell 6.9% year/year to $1 bln vs the $1 bln consensus.

Q4 Adjusted EBITDA increased to $171.8 million versus $158.3 million in the prior year period. Capital Allocation Plan: The Company’s recently approved capital allocation plan includes the initiation of a $0.05 per share quarterly dividend. The first cash dividend is payable April 5, 2015 to stockholders of record on March 15, 2015. The capital allocation plan also includes a share repurchase program under which management may repurchase up to $250 million of shares.

7:40 am Valero Energy Partners beats by $0.04, beats on revs (VLP) : Reports Q4 (Dec) earnings of $0.32 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.28; revenues rose 3.4% year/year to $34.18 mln vs the $32.98 mln consensus.

Strategic Update

The Partnership expects to increase its growth by completing $1 billion in acquisition transactions from subsidiaries of Valero in 2015. As a result, the Partnership expects to deliver annualized fourth quarter 2015 EBITDA of approximately $200 million, or 111 percent higher than its fourth quarter 2014 annualized EBITDA of $95 million.

7:39 am Perrigo beats by $0.05, misses on revs; guides FY15 EPS in-line (PRGO) : Reports Q2 (Dec) earnings of $1.82 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $1.77; revenues rose 9.5% year/year to $1.07 bln vs the $1.09 bln consensus. Co issues in-line guidance for FY15, sees EPS of $7.25-7.45, excluding non-recurring items, vs. $7.37 Capital IQ Consensus Estimate.

7:38 am Cummins beats by $0.05, beats on revs; guides FY15 revs below consensus; Co Plans to return 50% of operating cash flow to shareholders in 2015 (CMI) : Reports Q4 (Dec) earnings of $2.56 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $2.51; revenues rose 11.2% year/year to $5.1 bln vs the $5.04 bln consensus.

Revenues for the full year were a record $19.2 billion, 11% higher than 2013. Acquisitions contributed 3 percent to revenue growth. Revenues in North America increased 20 percent and international sales grew 2 percent. Within international markets, growth in China more than offset weaker demand in Brazil and India.”We reported record revenues in 2014 despite weak economic conditions in several of our most important international markets,” said Chairman and CEO Tom Linebarger. “Revenues grew 11% as demand in on-highway markets in North America improved, we continued executing our distributor acquisition strategy, and we delivered strong growth in China driven by new products. We continued to invest in future growth, reflecting our commitment to technology and product leadership, while growing EBIT faster than sales.”
Co issues downside guidance for FY15, sees FY15 revs growth of +2-4%, which equates to ~$19.6-20.0 bln vs. $20.98 bln Capital IQ Consensus Estimate.

7:37 am MSCI beats by $0.01, misses on revs; provides FY15 guidance (MSCI) : Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.48; revenues rose 6.0% year/year to $251.1 mln vs the $255.93 mln consensus.

Full-year 2015 Adjusted EBITDA Expenses, are expected to be in the range of $620-640 mln.
Full-year 2015 interest expense, including the amortization of financing fees, is expected to be approximately $45 mln
Full-year 2015 cash flow from operations is expected to be in the range of $275-325 mln
Full-year 2015 capital expenditures, including software capitalization, are expected to be in the range of $55-65 mln

7:35 am Nu Skin announces dividend increase to $0.35/share from $0.345/share (NUS) :

7:35 am Alliance Data beats by $0.13, reports revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY15 EPS below consensus, revs below consensus (ADS) : Reports Q4 (Dec) earnings of $3.45 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus Estimate of $3.32; revenues rose 30.2% year/year to $1.49 bln vs the $1.49 bln consensus.

Co issues guidance for Q1, sees EPS of $3.40 vs. $3.48 Capital IQ Consensus Estimate; sees Q1 revs of $1.54 bln vs. $1.55 bln Capital IQ Consensus Estimate. Co issues downside guidance for FY15, sees EPS of $14.80 vs. $14.94 Capital IQ Consensus Estimate; sees FY15 revs of $6.5 bln vs. $6.61 bln Capital IQ Consensus Estimate.

7:35 am Enanta Pharmaceuticals misses by $1.64, misses on revs (ENTA) :

Reports Q4 (Dec) earnings of $2.18 per share, $1.64 worse than the Capital IQ Consensus Estimate of $3.82; revenues rose 8511.1% year/year to $77.5 mln vs the $86.62 mln consensus. Enanta expects that its current cash, cash equivalents and marketable securities will be sufficient to meet its anticipated cash requirements for at least the next 24 months. “With a third potential HCV regimen approval anticipated in Japan later this year, and our next generation protease inhibitor candidate expected to advance into phase 3 studies this year as well, Enanta expects to have a portfolio of revenue-producing assets to support our research and development in new therapeutic areas of growth, beginning with our new NASH program targeting candidate selection for later this year.”

7:33 am Estee Lauder beats by $0.08, beats on revs; guides Q3 EPS below consensus; guides FY15 EPS below consensus (EL) : Reports Q2 (Dec) earnings of $1.13 per share, $0.08 better than the Capital IQ Consensus Estimate of $1.05; revenues rose 0.9% year/year to $3.04 bln vs the $3 bln consensus.

Co issues downside guidance for Q3, sees EPS of 0.45-0.50 vs. $0.67 Capital IQ Consensus Estimate; Net sales are forecasted to increase between 6% and 7% in constant currency.Co issues downside guidance for FY15, sees EPS of $2.72-2.80 vs. $2.86 Capital IQ Consensus Estimate; Net sales are forecasted to grow between 2% and 3% in constant currency.

7:33 am IntercontinentalExchange reports EPS in-line, beats on revs (ICE) : Reports Q4 (Dec) earnings of $2.54 per share, in-line with the Capital IQ Consensus Estimate of $2.54; revenues rose 49.3% year/year to $800 mln vs the $783.07 mln consensus. Included in this amount are transaction and clearing revenues, less transaction-based expenses, of $479 million. Consolidated data services fee revenues for the fourth quarter of 2014 were $174 million, consolidated listings revenues were $95 million and consolidated other revenues were $52 million.

ICE expects full year 2015 combined Data Services and Listings revenue growth of ~ $100 million, excluding acquisitions. ICE expects fourth quarter 2014 acquisitions to contribute $50 million to $55 million in incremental 2015 revenues and $40 million to $45 million in incremental 2015 expenses.

7:32 am Veracyte announces the publication of data demonstrating the analytical and clinical validity of Afirma BRAF (VCYT) : In the new study, researchers evaluated 535 FNA samples using both the Afirma RNA-based classifier and a sensitive, standard PCR DNA-based test. The Afirma BRAF RNA-based classifier accurately determined the presence or absence of the BRAF V600E DNA mutation with equal performance, but with a lower non-diagnostic rate than the DNA-based test (7.6 percent vs. 24.5 percent). In addition, the Afirma BRAF classifier has broader clinical utility: Because it uses a genomic expression signature associated with altered BRAF signaling, it has the potential to detect BRAF mutations other than V600E.

7:32 am MGP Ingredients articulates five-year strategic plan (MGPI) : “First, we intend to maximize the value of our current production volumes. In particular, we want to take advantage of favorable macro trends, such as the growth of the American whiskey category. This category includes bourbon, rye and Tennessee whiskeys and has been expanding at more than a 4.5 percent compound annual rate over the past five years.”

The co noted that the growth plans are complemented by planned investments in operations and by an emphasis on risk mitigation, “We expect capital expenditures largely to focus on improving operational reliability and reducing risk. In addition, we also plan to build our aged whiskey inventory. As needed to support our plans, we will add staff and capabilities in sales and marketing, as well as research and development.”

7:31 am Ebix announces the expansion of total commitments under its existing credit facility from $150 mln to $190 mln, to fund its growth and share repurchase initiatives (EBIX) : The $40 million increase in total commitments was the result of existing and new lender relationships.

7:31 am TASER announced the purchase of 700 AXON Flex body cameras as well as 700 five-year Unlimited and RMS Integration licenses to EVIDENCE.com by the Maricopa County Sheriff’s Office (TASR) : The order was received in the first quarter of 2015 and is expected to ship in the first quarter of 2015

7:30 am Thermo Fisher has acquired Advanced Scientifics, a global provider of single-use technologies for customized bioprocessing solutions, for $300 mln in cash (TMO) : Advanced Scientifics had ~$80 million in 2014 revenue and will be integrated into Thermo Fisher’s Life Sciences Solutions Segment. The company expects accretion to its adjusted earnings per share from the acquisition to be immaterial.

7:28 am Aer Lingus January 2015 traffic statistics (AIRXY) : Y/Y January changes were reported as follows:

Total Passengers decreased 4.5% from 572K to 546KTotal RPK increased 5% from 807 mln to 847 mln Total ASK increased 1.2% from 1,214 mln to 1,229 mlnTotal Passenger load factor increased 2.4% from 66.5% to 68.9%

7:23 am Broadridge Financial beats by $0.03, beats on revs; reaffirms FY15 guidance (BR) : Reports Q2 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.29; revenues rose 10.4% year/year to $574.6 mln vs the $551.42 mln consensus.

Broadridge is reaffirming its full year guidance and expects:

Co reaffirms guidance for FY15, sees EPS of $2.42-2.52 vs. $2.49 Capital IQ Consensus Estimate; reaffirms total revenue growth in the range of 4-6% Adjusted Pre-tax margins in the range of 17.3% to 17.7%, and Pre-tax margins in the range of 16.4% to 16.8% Free cash flows in the range of approximately $320 million to $370 million
Recurring revenue closed sales in the range of $110 million to $150 million

7:21 am Sally Beauty announces CEO transition; COO Chris Brickman to succeed Gary Winterhalter (SBH) : Mr. Brickman has been a member of the Sally Beauty Holdings Board of Directors since September 2012 and has served as the Company’s President and COO since June 2, 2014

7:20 am Gartner misses by $0.08, reports revs in-line; guides FY15 below consensus (IT) : Reports Q4 (Dec) earnings of $0.72 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus of $0.80; revenues rose 12.2% year/year to $584 mln vs the $584.04 mln consensus.

Co issues downside guidance for FY15, sees EPS of $2.27-2.46, excluding non-recurring items, vs. $2.79 Capital IQ Consensus; sees FY15 revs of $2.15-2.205 bln vs. $2.23 bln Capital IQ Consensus.

7:19 am Sally Beauty misses by $0.03, misses on revs (SBH) : Reports Q1 (Dec) earnings of $0.35 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.38; revenues rose 2.6% year/year to $964.5 mln vs the $975.12 mln consensus.

Fiscal 2015 first quarter sales increase is attributed to same store sales growth and the addition of new stores.The unfavorable impact from changes in foreign currency exchange rates in the fiscal 2015 first quarter was $12.0 million, or 1.2% of sales.Consolidated same store sales growth in the fiscal 2015 first quarter was 2.3%.

7:18 am On The Wires (:WIRES) :

Acura Pharmaceuticals (ACUR) announced the launch of their second pseudoephedrine product, NEXAFED Sinus Pressure + Pain. NEXAFED Sinus Pressure + Pain [pseudoephedrine HCI 30mg + acetaminophen 325mg] is a meth-resistant immediate-release tablet that effectively relieves congestion due to colds and allergies, as well as pain and/or fever associated with colds and sinus headaches. The Howard Hughes Corporation (HHC) received approval today for its fifth mixed-use project, the second residential and commercial development in Phase Two of the Ward Village Master Plan. Genomic Health (GHDX) announced that, as of April 1, 2015, the Oncotype DX test will be available to eligible breast cancer patients through the National Health Service in England as the only multi-gene breast cancer test recommended by the National Institute for Health and Care Excellence for use as an option to assist in chemotherapy treatment decision-making.Oxford Immunotec (OXFD) announced the first patients have been enrolled in the PROTECT Study. The PROTECT study is a pivotal clinical trial designed to demonstrate the clinical value of Oxford Immunotec’s T-SPOT.CMV and T-SPOT.PRT products.Yandex (YNDX) has released a new app that helps drivers in Moscow find a parking space and pay for the service without leaving their car.JinkoSolar (JKS) announced that it will provide 2 MW of smart modules to IDEC Corporation, a Japanese designer and manufacturer of control automation products, for a ground mounted solar PV project in Nishinomiya, Hyogo Prefecture, Japan. The project, which will comprise of 7,644 JinkoSolar polycrystalline smart modules equipped with TIGO Optimizer smart component, is currently the largest PV project equipped with all smart modules in Japan.Merge Healthcare (MRGE) announced a partnership with ICT Health. Together, Merge and ICT Health will deliver high quality, affordable imaging solutions to hospitals and clinics in the Middle East, North Africa, and India.

7:18 am Sirius XM Radio beats by $0.01, reports revs in-line; guides FY15 revs below consensus (SIRI) : Reports Q4 (Dec) earnings of $0.03 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.02; revenues rose 9.1% year/year to $1.09 bln vs the $1.08 bln consensus. Co issues downside guidance for FY15, sees FY15 revs of approximately $4.40 bln vs. $4.48 bln Capital IQ Consensus Estimate.

7:15 am Lazard beats by $0.22, beats on revs (LAZ) : Reports Q4 (Dec) earnings of $1.29 per share, excluding non-recurring items, $0.22 better than the Capital IQ Consensus Estimate of $1.07; revenues rose 4.1% year/year to $645.8 mln vs the $617.43 mln consensus.

Record M&A and Other Advisory 2014 operating revenue of $1,011 mln, up 31% from full-year 2013; fourth-quarter operating revenue of $297 mln, up 17% from prior-year periodRecord Asset Management 2014 operating revenue of $1,120 mln, up 9% from full-year 2013; fourth-quarter operating revenue of $284 mln, down 3% from prior-year period Assets under management of $197 bln as of December 31, 2014, up 5% from December 31, 2013, and flat to September 30, 2014; net inflows of $11.3 bln for full-year 2014 and $3.1 bln for fourth-quarter 2014

7:15 am Apollo Global Management reports Q4 (Dec) results, misses on revs (APO) : Reports Q4 (Dec) earnings of $0.23 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.39; revenues fell 63.0% year/year to $294.1 mln vs the $391.48 mln consensus.

U.S. GAAP results for the fourth quarter ended December 31, 2014 included net income attributable to Apollo Global Management, LLC of $22.2 million, or $0.04 per Class A share, compared to $159.2 million, or $0.94 per Class A share, for the same period in 2013. Apollo reported ENI after taxes of $93.8 million for the fourth quarter ended December 31, 2014, compared to $444.0 million for the same period in 2013. The $350.2 million decrease in ENI after taxes was driven by lower Incentive Business ENI, partially offset by an increase in Management Business ENI. Total revenue for Apollo’s combined segments was $294.1 million for the fourth quarter ended December 31, 2014, a decrease of $528.4 million, or 64%, compared to the same period in 2013, due to a decrease in Incentive Business revenues of $531.8 million primarily due to a $418.4 million decrease in unrealized carried interest. Total expenses for Apollo’s combined segments were $183.7 million for the fourth quarter ended December 31, 2014, a decrease of $201.2 million, or 52%, compared to the same period in 2013, primarily driven by a decrease in profit sharing expense resulting from the decline in carried interest income.

7:13 am EQT Midstream Partners beats by $0.11, reports revs in-line (EQM) : Reports Q4 (Dec) earnings of $1.12 per share, $0.11 better than the Capital IQ Consensus Estimate of $1.01; revenues rose 38.4% year/year to $112.14 mln vs the $111.69 mln consensus.

7:13 am Malibu Boats beats by $0.01, beats on revs (MBUU) :

Reports Q4 (Dec) earnings of $0.26 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.25; revenues rose 26.3% year/year to $55.5 mln vs the $52.57 mln consensus. Net sales per unit for the second quarter of fiscal 2015 decreased 1.3% to $65,506 compared to the second quarter of fiscal 2014, while net sales per unit in the U.S. increased 1.6% over the same period in fiscal 2014. “Looking ahead, we believe we are well positioned for the peak retail selling season. Early boat shows have gone well and the industry could benefit from lower gas prices and more normalized spring weather in the northern markets. While the strong U.S. currency could have some impact and flatten our international sales, we believe strong domestic demand will offset this.”

7:12 am S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +3.00. :

7:12 am European Markets : FTSE…6,834.99…-25.30-0.40%. DAX…10,873.73…-37.10-0.30%.

7:12 am Asian Markets : Nikkei…17,504.62…-174.10-1.00%. Hang Seng…24,765.49…+85.70+0.40%.

7:11 am Teva Pharma beats by $0.01, reports revs in-line (TEVA) : Reports Q4 (Dec) earnings of $1.31 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.30; revenues fell 4.8% year/year to $5.17 bln vs the $5.15 bln consensus.

Q4 non-GAAP operating income margin came in at 28.9%, compared to 25.0% in the year ago period.Global sales of Copaxone, the leading multiple sclerosis therapy in the U.S. and globally, amounted to $1.1 billion, a decrease of 2% YoY, but an increase of 3% in local currency terms. In the US, sales of Copaxone amounted to $835 million, up 4% YoY.

7:10 am Group 1 Auto beats by $0.33, beats on revs (GPI) : Reports Q4 (Dec) earnings of $1.67 per share, excluding non-recurring items, $0.33 better than the Capital IQ Consensus Estimate of $1.34; revenues rose 11.4% year/year to $2.54 bln vs the $2.47 bln consensus.

New vehicle revenues increased 9.9 percent on 8.4 percent higher unit sales. New vehicle gross profit increased 13.1 percent to $83.2 million as margins rose 4.4 percent or $83 per unit, to $1,973.

7:09 am Entergy misses by $0.07, beats on revs; guides FY15 EPS in-line (ETR) : Reports Q4 (Dec) operating earnings of $0.75 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus Estimate of $0.82; revenues rose 5.2% year/year to $2.83 bln vs the $2.72 bln consensus.

Co issues in-line guidance for FY15, sees EPS of $5.10-5.90 vs. $5.34 Capital IQ Consensus Estimate.

7:09 am Michael Kors beats by $0.15, misses on revs, comps; guides Q4 EPS below consensus (KORS) : Reports Q3 (Dec) earnings of $1.48 per share, $0.15 better than the Capital IQ Consensus Estimate of $1.33; revenues rose 30.9% year/year to $1.26 bln vs the $1.3 bln consensus. On a constant currency basis, total revenue increased 32.6%.

Retail net sales increased 37.0% to $689.4 million driven by 114 net new store openings since the end of the third quarter of fiscal 2014, e-commerce sales from the recently launched U.S. e-commerce site and an…8.6% increase in comparable store sales vs. +12.6% consensus.Wholesale net sales increased 24.4% to $573.8 million and on a constant currency basis, wholesale net sales grew 26.4%. Revenue in North America increased 22.6% to $1.1 billion, with a 6.0% increase in comparable store sales. European revenue grew 72.1% to $241.4 million, with comparable store sales increasing 21.2%. Revenue in Japan increased 72.1% to $16.0 million, with comparable store sales growth of 35.4%.

Co issues

downside guidance

for Q4, sees EPS of $0.89-0.92 vs. $0.94 Capital IQ Consensus; sees Q4 revs of $1.05-1.08 bln vs. $1.15 bln Capital IQ Consensus Estimate. This assumes a comparable store sales increase of mid-single digits on a reported basis vs. +12% consensus and an increase of high single digits on a constant currency basis

Company repurchased 5,068,813 shares of the Company’s ordinary shares for ~$399.9 million.

7:08 am Xylem beats by $0.02, beats on revs; guides FY15 EPS below consensus, revs below consensus (XYL) : Reports Q4 (Dec) earnings of $0.62 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.60; revenues rose 0.9% year/year to $1.04 bln vs the $1.02 bln consensus.

Co issues downside guidance for FY15, sees EPS of $1.85-1.95 vs. $2.06 Capital IQ Consensus Estimate; sees FY15 revs of $3.7 bln vs. $3.93 bln Capital IQ Consensus Estimate.

7:07 am Dupont Fabros Tech reports FFO in-line, beats on revs; guides Q1 FFO in-line; guides FY15 FFO below consensus (DFT) : Reports Q4 (Dec) funds from operations of $0.62 per share, in-line with the Capital IQ Consensus Estimate of $0.62; revenues rose 8.7% year/year to $108 mln vs the $106.66 mln consensus.

Co issues in-line guidance for Q1, sees FFO of $0.59-0.63 vs. $0.63 Capital IQ Consensus Estimate. Co issues downside guidance for FY15, sees FFO of $2.27-2.47 vs. $2.57 Capital IQ Consensus Estimate. Same store revenue growth of 7.3% when comparing Q4 2014 to Q4 2013, 10.5% year over year. Executed and commenced two leases totaling 2.28 MW and 10,587 CRSF and executed two pre-leases totaling 5.68 MW and 25,916 CRSF. Both leases and one of the pre-leases were disclosed in our Q3 earnings release. Guidance Details: Both the higher and lower end of the range assume no revenue from the customer who has halted base rent payments. Contractual revenue from this customer is $0.16 per share in 2015 and any revenue received from this customer in 2015 will increase our Normalized FFO guidance.

7:07 am Galena Biopharma announces that its partner, Orexo AB, has filed a patent infringement lawsuit in United States District Court against Actavis Laboratories (ACT) and Andrx Corporation (GALE) : The lawsuit was filed in response to the Abbreviated New Drug Application filed by Actavis (ACT). In its application, Actavis seeks to market and sell generic versions of Abstral (fentanyl) sublingual tablets in the U.S. prior to the expiration of Orexo’s U.S. patents for Abstral listed in the FDA’s Orange Book. The listed patents are U.S. patents 6,759,059, 6,761,910 and 7,910,132 with expiration dates in September 2019. Galena currently markets Abstral and is the owner of the New Drug Application in the United States.

Because Orexo initiated a lawsuit against Actavis in a timely manner, the FDA is statutorily precluded from approving Actavis’ ANDA for 30 months, or until a district court decision finding the patents invalid or not infringed, whichever occurs earlier.

7:07 am PPL Corp beats by $0.09, beats on revs; guides FY15 EPS below consensus (PPL) : Reports Q4 (Dec) earnings of $0.58 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus Estimate of $0.49; revenues rose 42.7% year/year to $4.02 bln vs the $2.96 bln consensus. Co issues downside guidance for FY15, sees EPS of $2.05-2.25 vs. $2.27 Capital IQ Consensus Estimate.

7:06 am Chesapeake Granite Wash decreases quarterly distribution to $0.4496 from $0.5079 (CHKR) :

7:06 am Fidelity Nat’l Info reports EPS in-line, revs in-line; guides FY15 EPS in-line, revs in-line (FIS) : Reports Q4 (Dec) earnings of $0.87 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.87; non-GAAP revenues rose 7.4% year/year to $1.69 bln vs the $1.70 bln consensus. Co issues in-line guidance for FY15, sees EPS of $3.37-3.49, excluding non-recurring items, vs. $3.47 Capital IQ Consensus Estimate; sees FY15 non-GAAP revs of $6.74-6.87 bln vs. $6.86 bln Capital IQ Consensus Estimate.

7:04 am IAMGOLD provides update from its ongoing exploration program at its optioned Monster Lake project (IAG) : During 2014, the Company conducted a multi-phase diamond drilling program totaling 12,761 metres. This news release reports the assay results of the final 17 of the 26 drill holes in the program. The 2014 drilling program was designed to test the direct down-dip and lateral extensions of the 325-Megane mineralized zone, as well as areas along strike within the interpreted structural corridor referred to as the Monster Lake Shear Zone (“MLSZ”).

In 2015, an initial 5,000 metre, winter diamond drilling program is planned which is designed to test selected target areas along the main MLSZ structure to take advantage of the winter access conditions. Further drilling is also planned on the 325-Megane zone to test the continuation of lateral and down-plunge extensions. Drilling is expected to commence in the coming weeks.

7:04 am ISIS Pharm earns $10 million milestone payment from Biogen Idec (ISIS) : As ISIS-BIIB4Rx advances in development, Isis is eligible to receive up to $249 million in additional milestone payments and a license fee, including amounts related to the costs of clinical trials. In addition, Isis is eligible to receive double-digit royalties from sales of ISIS-BIIB4Rx.

7:03 am MWI Veterinary Supply beats by $0.05, beats on revs (MWIV) : Reports Q1 (Dec) earnings of $1.57 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.52; revenues rose 16.2% year/year to $798.5 mln vs the $783.79 mln consensus.

Co increased “new placements” of Abaxis diagnostic instruments by 125% to 456 units during the quarter, compared to 203 units in the same period in the prior fiscal year.

7:03 am Neovasc announces that the final results from its COSIRA study assessing the efficacy and safety of the Neovasc Reducer for treatment of Refractory Angina were published in the New England Journal of Medicine (NVCN) : “The results from this rigorously designed trial speak for themselves. They demonstrate a clear clinical benefit and highly safe procedure,” said Dr. Shmuel Banai, Director of Interventional Cardiology in the Cardiology Department at the Tel Aviv Medical Center, Tel Aviv, Israel. “For RA patients, even a 1-grade improvement in CCS class makes a dramatic impact on their quality of life, let alone a 2-grade improvement, which occurred in 35% of the treated patients.”

“We expect commercial distribution of the Reducer in selected European markets to begin shortly and we are also working to advance the Reducer’s clinical and regulatory program in the US.”

7:03 am Snap-On beats by $0.18, beats on revs (SNA) : Reports Q4 (Dec) earnings of $1.97 per share, excluding non-recurring items, $0.18 better than the Capital IQ Consensus Estimate of $1.79; revenues rose 7.5% year/year to $857.4 mln vs the $829.5 mln consensus.

Outlook
SNA expects that capital expenditures in 2015 will be in a range of $80 million to $90 million. Snap-on also anticipates that its full year 2015 effective income tax rate will be at or below its 2014 full year rate.

7:02 am Old Dominion beats by $0.08, reports revs in-line (ODFL) : Reports Q4 (Dec) earnings of $0.81 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.73; revenues rose 21.7% year/year to $721 mln vs the $714.51 mln consensus.

For 2015, co expects capital expenditures to total $463.3 mln, including planned expenditures of $164.7 mln for real estate and service center expansion projects, $271.8 mlnfor tractors, trailers and other equipment and $26.8 mln for technology and other assets.

7:02 am EQT Corp. reports year-end 2014 total proved reserves of 10.7 Tcfe; represents a 2.4 Tcfe net increase over 2013, with a reserve replacement ratio of 590% (EQT) : The Company’s 2014 Marcellus proved reserves increased by 2.3 Tcfe, primarily from wells drilled in 2014, acreage acquisitions, and higher estimated ultimate recoveries per well. For 2014, the EUR of proved Marcellus wells averaged 7.9 Bcfe, with an average lateral length of 4,435 feet; compared to the 2013 EUR of 7.2 Bcfe, with an average lateral length of 4,335 feet. Additional proved reserves increases include 240 Bcfe for Upper Devonian, and 103 Bcfe for the acquired Permian assets. Proved reserve decreases of 199 Bcfe were realized from the divested Nora assets; and 134 Bcfe of undeveloped reserves were removed due to the suspension of the Huron program in 2014.

EQT estimates year-end 2014 total proved, probable and possible reserves at 42.8 Tcfe, an increase of 6.4 Tcfe, or 18%. This increase is primarily due to the acquisition of additional Marcellus acreage.

7:02 am Exterran increases credit facility to $1.05 Bln (EXLP) : Commitments collectively increase the borrowing capacity under the revolving credit facility by $250 mln to $900 mln, with an additional amended credit facility, that matures in May 2018, including a $150 mln term loan facility.

7:01 am Ignyta receives orphan drug designation from FDA for Entrectinib for the treatment of molecularly defined subsets of non-small cell lung cancer (RXDX) : Entrectinib is currently in two Phase I/II clinical trials, the STARTRK-1 trial and the ALKA-372-001 trial.

7:01 am Rentrak sells pay per transaction business to Vobile for $7 Mln; $1 mln in cash, a $1 mln six month note and Vobile preferred stock with a $5 mln liquidation preference (RENT) :

7:01 am Hospira: Pfizer (PFE) to acquire Hospira for $90 a share in cash for a total enterprise value of ~$17 bln; expected to be immediately accretive upon closing by $0.10-0.12 per share for the first full year following closing (HSP) : Pfizer (PFE) notes that this strategically complementary combination will add a growing revenue stream and a platform for growth for Pfizer’s GEP business. The expanded portfolio of sterile injectable pharmaceuticals, composed of Hospira’s broad generic sterile injectables product line, including acute care and oncology injectables, with a number of differentiated presentations, as well as its biosimilars portfolio, combined with GEP’s branded sterile injectables, including anti-infectives, anti-inflammatories and cytotoxics, will create a leading global sterile injectables business.

Both sterile injectables and biosimilars are large and growing categories. The global marketplace value for generic sterile injectables is estimated to be $70 bln in 2020. The global marketplace for biosimilars is estimated to be ~$20 bln in 2020Pfizer expects to finance the transaction through a combination of existing cash and new debt, with approximately two-thirds of the value financed from cash and one-third from debt. In addition, Pfizer anticipates the transaction to deliver $800 mln in annual cost savings by 2018.
The Boards of Directors of both companies have unanimously approved the merger, which is expected to be immediately accretive upon closing, accretive by $0.10 – $0.12 per share for the first full year following the close of the transaction with additional accretion anticipated thereafter.

6:58 am Teradata beats by $0.01, misses on revs; guides FY15 EPS below consensus, revs below consensus (TDC) : Reports Q4 (Dec) earnings of $0.91 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.90; revenues rose 0.3% year/year to $761 mln vs the $778.2 mln consensus.

Co issues downside guidance for FY15, sees EPS of $2.50-2.70, excluding non-recurring items, vs. $2.99 Capital IQ Consensus Estimate; sees FY15 revenues flat to down 2% which equates to roughly $2.68-$2.73 bln vs. $2.83 bln Capital IQ Consensus Estimate.

6:49 am Southern Copper beats by $0.06, reports revs in-line (SCCO) : Reports Q4 (Dec) earnings of $0.43 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.37; revenues fell 4.2% year/year to $1.47 bln vs the $1.48 bln consensus.

During Q4 higher copper, silver and zinc sales volume offset lower metal prices. Net sales for the 4Q14 were $1,471.3 mln, only 0.2% lower than 3Q14 net sales of $1,474.6 mln despite having a 5.5% lower copper price during this period.Full year 2014 net sales were $5,787.7 mln maintaining the same level as in 2013 because of improved operational performance and capital investments that reduced costs and increased copper and molybdenum production in 2014 despite lower prices of copper (-7%), silver (-20%) and gold (-10%).Copper production for 2014 increased 9.7% to 676,599 metric tons from 617,019 metric tons in 2013. In the 4Q14, copper production increased 9.2% to 183,616 metric tons from 168,210 metric tons in 3Q14.”This increase was the result of higher production at our Mexican operations, mainly at the Buenavista mine, and at our Peruvian operations.”

6:47 am Genetic Technologies announced yesterday that its Nasdaq deficiencies had successfully been remediated (GENE) : To regain compliance, the Company undertook a reverse stock split (consolidation) which, when actioned, has the effect of resetting the existing ratio of 1 ADR representing 30 Ordinary shares to 1 ADR representing 150 Ordinary shares. The target date for the ratio change was Monday 19 January, 2015. From January 20 to February 2, 2015, the closing bid price of the Company’s common stock has been at USD 1.00 per share or greater.

6:45 am Kirklands raises Q4 EPS guidance; sees Q4 sales above estimates; promotes Mike Madden to CEO and Adam Holland to CFO (KIRK) : Q4 net sales +14.5% to $178.7 mln vs. $174.4 mln Consensus.

Comparable store sales for the fourth quarter of fiscal 2014, including e-commerce sales, rose 8.2% compared with a flat performance in the prior-year quarter.

Kirkland’s increased its guidance for the fourth quarter of fiscal 2014 to earnings of $0.84 to $0.87 per diluted share compared with previous guidance of $0.77 to $0.84 vs. $0.84 Consensus.

Mike Madden, currently President and Chief Operating Officer, will be named President and Chief Executive Officer. Mr. Madden will also join the Company’s board of directors, which will be increased from seven to eight members. Robert Alderson will retire from his role as Chief Executive Officer and will remain on Kirkland’s board. Adam Holland, most recently the Vice President of Finance and Chief Accounting Officer, will be appointed Vice President and Chief Financial Officer.

6:37 am Invacare beats by $0.16, reports revs in-line (IVC) : Reports Q4 (Dec) loss of $0.12 per share, excluding non-recurring items, $0.16 better than the Capital IQ Consensus Estimate of ($0.28); revenues fell 3.8% year/year to $318.2 mln vs the $319.8 mln consensus.

While the Company is not giving guidance, it is important to mention that if the Euro continues to be weak compared to prior year, it may negatively impact our 2015 performance, as the European segment was our main driver of profitability and cash flow in 2014. Accordingly, we will monitor and manage cash flow particularly closely. The Company also will work diligently toward improving the profitability of our North America/HME and Asia/Pacific businesses and continuing our quality systems remediation. Status of the consent decree
Regarding the status of the Company’s consent decree with the FDA, CEO commented, ”With the help of the consulting firm we engaged in 2014, our internal subject matter experts are executing our action plans to improve the functionality and capabilities of certain quality subsystems. We have identified the root causes of the issues that need to be addressed in order to achieve sustainable compliance, and we are working through quality implementation plans that are intended to help us achieve the appropriate solution. I am meeting with the teams weekly to drive progress and accountability. We are making progress, but we still have work to do, including process improvements for addressing complaint data, before we can verify the effectiveness of our solutions and complete the third-party expert certification audit.”

6:37 am MAXIMUS beats by $0.07, reports revs in-line; reaffirms FY15 EPS guidance, revs guidance (MMS) : Reports Q1 (Dec) earnings of $0.63 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.56; revenues rose 14.9% year/year to $467 mln vs the $469.23 mln consensus.

Signed contract awards totaled $1.3 billion and the sales pipeline remained strong at $3.6 billion at December 31, 2014.
Co reaffirms guidance for FY15, sees EPS of $2.25-2.40 vs. $2.33 Capital IQ Consensus Estimate; sees FY15 revs of $1.9-2.0 bln vs. $1.95 bln Capital IQ Consensus Estimate.

6:34 am Apollo Investment beats by $0.01, beats on revs (AINV) : Reports Q3 (Dec) net investment income of $0.24 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.23; total investment income rose 16.3% year/year to $110 mln vs the $105.98 mln consensus.

“Although the liquid credit markets were challenging during the quarter, the volatile environment enabled us to deploy capital at attractive risk-adjusted returns.” Mr. Zelter continued, “Long-term, we remain optimistic about the outlook for providers of flexible capital solutions amidst the growing impact of regulation on the lending landscape.”

6:33 am Coty beats by $0.14, misses on revs (COTY) : Reports Q2 (Dec) earnings of $0.45 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of $0.31; revenues fell 4.8% year/year to $1.26 bln vs the $1.28 bln consensus.

2015 Outlook
Coty is targeting to gradually return to profitable growth. The Company remains firmly focused on growing its power brands around the world behind innovation, strong support levels and improving “in-market” execution. Coty is also intensely focused on cost optimization opportunities to improve profitability and to provide for investment in its power brands. The $200 million of annual savings expected from the Global Efficiency Plan should help the Company make progress against this target over time.

6:32 am Medidata Solutions beats by $0.03, misses on revs; guides FY15 revs in-line (MDSO) : Reports Q4 (Dec) earnings of $0.25 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.22; revenues rose 19.6% year/year to $89.2 mln vs the $91.06 mln consensus.

Co issues in-line guidance for FY15, sees FY15 revs of $392-412 mln vs. $408.96 mln Capital IQ Consensus Estimate.

6:29 am On The Wires (:WIRES) :

Applied DNA Sciences (APDN) has completed a campaign for SigNature T DNA marking of pima cotton fibers destined for one of America’s largest retailers. More than 10,000 bales of extra long staple, pima cotton have been securely marked at the fiber level with APDN’s botanically-derived DNA, and are en route to off-shore locations in Asia for conversion to finished goods, that will ultimately be sold at retail this year.Elsevier NV (ENL) announced its agreement to participate in CLOCKSS (Controlled Lots of Copies Keep Stuff Safe) archiving of ebooks. CLOCKSS is a community-governed archive committed to open access.Net 1 UEPS Technologies (UEPS) announced that it has established a new subsidiary in the United Kingdom called Zazoo Limited to oversee the global expansion of Net1’s mobile payments and value-added services businesses, including the activities currently conducted through its Net1 Mobile Solutions business unit based in Johannesburg, South Africa.Accenture (ACN) has unveiled an innovative Proof of Concept using a wearable device to demonstrate a new way for fans to interact with live sport. Designed by Accenture Mobility to provide an in-stadium, non-intrusive experience, the PoC shares curated content to a wearable headset in order to provide real-time, relevant data about the game as it’s being played.IGT (IGT) announced an agreement to install the Company’s pioneering systems solutions at the prestigious Palazzo Club, which is located within the Sheraton Saigon Hotel & Towers, Vietnam. The groundbreaking agreement includes the first installation of IGT’s Advantage Systems in the Vietnam slot club market, introducing this segment to new slot operations capabilities, including in-depth analyses of individual game performance.DaVita Kidney Care, a division of DaVita HealthCare Partners (DVA), announced that the company is a leader in immunizations for kidney care providers and has exceeded its own previous immunization rates for both dialysis patients and teammates. As of Dec. 31, 2014, DaVita Kidney Care achieved the following: Over 92% of patients immunized for seasonal influenza, Over 93% of patients immunized for pneumococcal pneumonia, Over 92% of teammates immunized for seasonal influenzaMobile TeleSystems (MBT) announces that Standard & Poor’s Ratings Services has downgraded the Company’s long-term foreign and local currency corporate credit rating from ‘BBB-‘ to ‘BB+’ following the downgrade of the Russia’s sovereign rating from ‘BBB-‘ to ‘BB+’. The outlook on the MTS’s foreign currency rating and the local currency rating remains negative. Ratings on the Company’s senior unsecured debt were downgraded from ‘BBB-‘ to ‘BB+’.

6:27 am Becton Dickinson beats by $0.10, beats on revs; guides FY15 just below consensus — raises FY15 guidance ex-FX (BDX) : Reports Q1 (Dec) adj. earnings of $1.53 per share, $0.10 better than the Capital IQ Consensus Estimate of $1.43; revenues rose 1.8% year/year to $2.05 bln vs the $2.01 bln consensus.

Co issues downside guidance for FY15, sees EPS of $6.50-6.57, excluding non-recurring items, vs. $6.71 Capital IQ Consensus; sees FY15 revs of flat to -1% to ~$8.36-8.45 bln vs. $8.45 bln Capital IQ Consensus.

The Company estimates that revenues for the full fiscal year 2015 will increase approximately 5.0 percent on a foreign currency-neutral basis, which is an increase from previously issued guidance of 4.5 to 5 percent. The Company expects adjusted diluted earnings per share from continuing operations to grow 9.0 to 10.0 percent on a foreign currency-neutral basis. This is an increase from previously issued guidance of 8.0 to 9.0%.

6:22 am Spectra Energy and Spectra Energy Partners (SEP) announce 2015 business outlook and financial plan (SE) : Co announced their business outlook and 2015-2017 financial plan

Spectra Energy 2015 distributable cash flow of more than $1.2 billion Dividend increase of 14 cents per share annually, or 9%, through 2017 at Spectra Energy; dividend coverage of 1.2x in 2015 and 1.0x per year in 2016 and 2017 SEP distributable cash flow in 2015 of $1.1 billion with a compound annual growth rate (CAGR) of 12.7% through 2017 Distribution increases of one and a quarter cents each quarter, or 8% annually, through 2017 at SEP; distribution coverage of 1.1x in 2015 and 1.02x in 2016 and 2017 2015 Spectra Energy enterprise-wide EBITDA of more than $2.8 billion; with a CAGR of 10.5% through 2017 Investment of approximately $8 billion in expansion capital (CapEx) over the plan period with $2.5 billion invested in 2015 and $2.8 billion in both 2016 and 2017SEP’s share of CapEx is about 75% in 2015; approximately 60% in 2016, and nearly 70% in 2017

6:21 am Conns sees Q4 revs below consensus; Jan same store sales +4.9%; Greater than 60-day delinquency was flat as of January 31, 2015 YoY (CONN) :

Co issues downside guidance for Q4 (Jan), sees Q4 (Jan) revs of $350.5 mln vs. $426.19 mln Capital IQ Consensus Estimate. Co reported $93.6 million in total retail net sales for the month ended January 31, 2015, a 16.8% increase compared to the same prior year period.”Greater than 60-day delinquency was flat as of January 31, 2015 compared to December 31, 2014 without the benefit of meaningful portfolio growth. Less than 60-day delinquency at January 31, 2015 declined compared to last month and continues to be well below the same period a year ago. Collections were strong for the month of January as our payment rate increased above the prior year January, and was flat for the quarter compared to a year ago.” “Same store sales for the month increased 4.9% against an increase of 28.2% in January last year. Same store sales increased 1.3% for the quarter and 8.0% for fiscal 2015. We continue to experience headwinds from tighter underwriting compared to a year ago, with an estimated impact of approximately 5-7% in the quarter. Tighter underwriting, along with additional store openings, mostly impacted our Arizona and New Mexico stores. Excluding Arizona and New Mexico locations, same store sales increased 6.9% for the month.”

6:18 am W.R. Grace beats by $0.12, misses on revs; guides FY15 EPS in-line (GRA) : Reports Q4 (Dec) earnings of $1.37 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus Estimate of $1.25; revenues rose 3.5% year/year to $804.1 mln vs the $839.52 mln consensus.

Co issues in-line guidance for FY15, sees EPS of $5.05-5.45 vs. $5.06 Capital IQ Consensus Estimate.
Expects 2015 Adjusted EBIT to be in the range of $675-705 mln
The company expects 2015 Adjusted Free Cash Flow to be at least $430 mln

6:16 am Dunkin Brands misses by $0.01, reports revs in-line; guides FY15 EPS in-line; announced 15% increase in dividend and $700 mln stock repurchase program (DNKN) : Reports Q4 (Dec) earnings of $0.46 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.47; revenues rose 5.5% year/year to $193.2 mln vs the $191.29 mln consensus.

Co issues in-line guidance for FY15, sees EPS of $1.83-1.87 vs. $1.87 Capital IQ Consensus Estimate. Dunkin’ Donuts U.S. comparable store sales growth of 1.4%. BR U.S. comparable store sales growth of 9.3%. DD International comparable store sales growth of 0.3%. Added 260 net new restaurants worldwide including 141 net new Dunkin’ Donuts in the U.S. Dividend and stock repurchase: Board of Directors declares $0.265 first quarter dividend representing a 15% increase over the Company’s fourth quarter 2014 dividend Board of Directors authorized new $700 million share repurchase program. Guidance: The Company expects Dunkin’ Donuts U.S. comparable store sales growth of 1 to 3 percent and Baskin-Robbins U.S. comparable store sales growth of 1 to 3 percent. The Company expects that Dunkin’ Donuts U.S. will add between 410 and 440 net new restaurants, for greater than 5 percent net unit growth, and expects Baskin-Robbins U.S. will add between 5 and 10 net new restaurants.

6:16 am Prestige Brands beats by $0.08, beats on revs; guides FY15 EPS in-line, guides revs to high end of prior range (PBH) : Reports Q3 (Dec) earnings of $0.48 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of $0.40; revenues rose 36.4% year/year to $197.6 mln vs the $190.21 mln consensus.

Co issues guidance for FY15, sees EPS of $1.82-1.85 vs. $1.80 Capital IQ Consensus Estimate; sees revenue growth at the high end of prior range of 15-18%.

6:15 am Sequans Communications beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus (SQNS) :

Reports Q4 (Dec) loss of $0.12 per share, $0.01 better than the Capital IQ Consensus Estimate of ($0.13); revenues rose 32.3% year/year to $6.6 mln vs the $7.38 mln consensus. Gross margin was 6.1% (34.7% on a non-IFRS basis) compared to gross margin of 39.4% in the third quarter of 2014, primarily due to the recording of non-cash provisions for slow-moving WiMAX inventory in the amount of $1.9 million, and compared to 43.8% in the fourth quarter of 2013. Co issues downside guidance for Q1, sees EPS of ($0.12) -(0.14) vs. ($0.12) Capital IQ Consensus Estimate; sees Q1 revs of $4-6 mln vs. $7.36 mln Capital IQ Consensus Estimate. Meaningful sequential revenue growth is expected beginning in the second quarter as new devices are launched in addition to the product already shipping. In addition, discussions with several potential strategic partners are continuing. When finalized, these alliances are expected to contribute financing and incremental revenue.

6:15 am Ball Corp misses by $0.01, beats on revs; unlikely co will attain its long-term 10-15% EPS growth goal in 2015 (BLL) : Reports Q4 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.85; revenues rose 1.8% year/year to $2.03 bln vs the $1.98 bln consensus.

“We achieved record free cash flow in excess of $620 million in 2014 and anticipate full-year 2015 free cash flow to be in roughly the same range. Given the strength of our 2014 financial performance, we’ve created a challenging earnings comparison for 2015, especially in the first half when we are ramping up multiple global capital projects and awaiting the award of additional aerospace contracts,” Hayes said. “We expect the second half to be stronger than the first half and it is unlikely we will attain our long-term 10-15 percent earnings per diluted share growth goal in 2015.”

6:11 am Carlisle Cos beats by $0.06, beats on revs; sees FY15 organic sales growth in the mid-to-high single digits with continued EBIT and margin improvement (CSL) : Reports Q4 (Dec) earnings of $0.81 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.75; revenues rose 9.1% year/year to $790 mln vs the $779.89 mln consensus.

Organic sales growth was 6.0%. The acquisition of LHi Technology reported in the Carlisle Interconnect Technologies (CIT) segment contributed 3.6% to sales in the fourth quarter. The negative impact on net sales from fluctuations in foreign exchange was 0.5%. Higher costs at Carlisle Construction Materials (CCM), lower net sales and EBIT (earnings before interest and income taxes) at Carlisle Brake & Friction (CBF) and a higher effective tax rate in the fourth quarter of 2014 affed earnings. “We look to improve performance in 2015 as we plan for organic sales growth in the mid-to-high single digit percent range with continued EBIT and EBIT margin improvement. We expect the acquisition of Liquid Finishing Brands, as the new Carlisle Fluid Technologies (CFT) segment with annual sales of ~$275 million, to be accretive to our net earnings in 2015. We are planning for capital expenditures of ~$100 million in 2015.

6:10 am ClearSign Combustion disclosed that on February 3, 2015, Stephen E. Pirnat was appointed as President, CEO and Chairman of the Board (CLIR) : Pirnat became a director of the Company in November 2011. Since August 2012, Mr. Pirnat has been Managing Director of Europe, the Middle East and African operations at Quest Integrity Group, a division of Team Industrial Services, a provider of asset integrity management and asset reliability solutions in the refinery, chemical, petrochemical, pipeline and pow […]

New cash advice centre to beat the loan sharks

A NEW scheme has been launched in north Glasgow to keep residents out of the hands of loan sharks.

Last year, the Big Lottery awarded Glasgow organisation Scotcash a £1million grant to expand its services over the next four years.

It provides affordable credit, financial support and guidance to people who may otherwise not get a loan.

Scotcash has the support of a wide range of organisations including the city council, the Scottish Government and Glasgow Housing Association.

Unlike credit unions, people do not first have to save cash before they can take out a loan with the organisation.

Scotcash opened its first office on the High Street in 2007 and has gone from strength to strength.

This month it extended its services to the north of the city and plans to operate in the south from October next year and in the west by 2016.

Linzi Wilson, Scotcash finance and marketing officer, said: “Alongside credit unions, we work with some of the most vulnerable people in the city who use high cost and pay day lenders or even loan sharks.

“We offer affordable credit and where a loan is not the best option, access to free high quality money advice is offered on site through our partners in the Citizens Advice Bureau.

“In addition to this, we can open basic bank accounts and provide financial education helping improve people’s long term financial outlook and start them on the route to becoming financially included.”

Scotcash will operate five days a week from housing association offices in the north of the city.

Chief executive Sharon MacPherson said: “Scotcash is committed to supporting individuals and communities most in need and we are delighted that with Big Lottery support we are bringing our services closer to local communities in north Glasgow.”

[…]

St. Joe considers a loan to Sears

Monday, September 22, 11:03 AM EDT

By Mark Basch, Contributing Writer

After a major timberland sale early this year, followed by the sale of its RiverTown community in St. Johns County, The St. Joe Co. is sitting on a mountain of cash.

Could the real estate development company use some of that money to make a loan to retailer Sears?

It sounds strange, but according to a Securities and Exchange Commission filing last week by Fairholme Capital Management LLC and its founder, Bruce Berkowitz, St. Joe is considering a $100 million loan to Sears Holding Corp.

Berkowitz is chairman of St. Joe, and he and Fairholme are the largest shareholders of St. Joe with 27.1 percent of the stock.

Miami-based Fairholme also is a major shareholder of Sears, and has bought additional shares over the last two months to increase its stake to 23.1 percent, according to the filing.

Sears, which not only operates the Sears chain but also Kmart, announced last Monday that it secured a $400 million short-term loan from a group of investment firms.

According to Fairholmes filing, it has been in discussions with Sears about that loan and The St. Joe Co. may invest up to $100 million in participations relating to the short term loan.

It didnt take long for Wall Street to register its opinion on that possible deal. After the late Thursday afternoon filing, St. Joes stock opened $1.26 lower Friday morning at $19.90.

St. Joe moved its headquarters from Jacksonville to WaterSound in the Florida Panhandle in 2010. Other than its cash, the companys assets include about 182,000 acres of land for development mainly between Tallahassee and Destin.

Analysts see Coachas still out of fashion

The retail fashion industry can be difficult to predict. A little more than two years ago, Jacksonville-based Body Central Corp. was flying high with booming sales growth, before its target market of young women lost interest in the fashions found in its stores.

Sales plummeted, and now Body Central is struggling to survive and hoping it has enough cash to keep going while it tries to entice customers back into the stores.

While not as dire as Body Central, Coach Inc. also began losing ground in the spring of 2012, with its stock value dropping by more than half since then. The handbag and fashion accessories company also is trying to win back customers, but two Canaccord Genuity analysts said last week that they are not impressed with Coachs latest fashions.

After seeing the product that is in stores and given the current competitive environment, our initial response was to downgrade shares of Coach to a sell rating, analysts Laura Champine and Jason Smith said in their report.

The company is on track to cede more market share in fiscal 2015, and its grip on the top position is as loose as ever in our view, they said.

The analysts are maintaining a hold rating on the stock because the company is still generating enough cash to pay a strong dividend and they think the low stock price could attract interest from private equity investors.

Jacksonville is an important part of the international companys operations. Coachs North American distribution center is located at the Jacksonville International Tradeport in North Jacksonville, and the 850,000-square-foot facility is by far the largest building in Coachs global operations, according to its annual report.

It was something of a coup 20 years ago when Jacksonville landed the Coach center, because of the prestige and popularity of Coachs products.

However, in recent years, the company has been losing sales to competitors such as Michael Kors and analysts expect it to have a hard time winning those customers back.

The company reported sales declines in North America (accounting for roughly two-thirds of total sales) throughout fiscal 2014, while the premium handbag and leather goods market continued to grow at a steady pace, Champine and Smith said.

We expect it will get much worse for Coach in fiscal 2015 before it gets any better, they said.

Champine and Smith said Coach expects its handbag sales to return to strong growth by fiscal 2017. However, the basis for this assumption is beyond us, as it seems new product is aimed at a much smaller market of fashion acolytes, they said.

We are concerned that Coach is digging itself quite a hole this fiscal year, and the new product does not inspire great confidence in us that it will be enough to revive market share gains, they said.

Analysts expectbetter retail results

Specialty retailers have been struggling in general to bring in customers, but Sterne, Agee & Leach analysts Ike Boruchow and Tom Nikic see better times ahead.

Simply put, after lagging much of the year, retail stocks appear to be well situated for second-half outperformance, as comp trends have inflected, inventories are lean, and compares are easy, Boruchow and Nikic said in a report last week.

Comparable-store sales (sales at stores open for more than one year) for a group of 15 specialty retailers they follow (including Coach) rose an average of 1.4 percent in the second quarter.

Thats not a big increase, but it was much better than the flat sales performance those companies produced in the first quarter and was an encouraging sign, the analysts said.

Prior to the second quarter, top-line trends had decelerated in 9 of 11 quarters, so the improved performance this summer may be reflective of the start of a recovery, they said.

Boruchow and Nikic did caution that the weak first quarter was at least in part due to bad weather in much of the country.

Thus, third-quarter performance will be the key to determining whether the second-quarter bounce was due to improving fundamentals or just normalized weather, they said.

Besides improved sales, the analysts also are hoping for improved earnings as the retailers rely less on discounting.

The general moderation of promotional trends across the mall should help alleviate some of the markdown-related margin pressure that has plagued retailers over the past 12 months, they said.

Simons spinoffcompany expanding

Speaking of shopping malls, Washington Prime Group Inc. last week announced it is acquiring another mall operator just three months after it was spun off from Simon Property Group Inc.

Washington Prime reached a $4.3 billion agreement to acquire Glimcher Realty Trust, which operates 28 retail properties.

The combined company will be renamed WP Glimcher after the merger is completed.

Washington Prime operates 96 shopping centers, including the 959,331-square-foot Orange Park Mall and the 163,254-square-foot Westland Park Plaza in Orange Park.

Simon, which continues to have ownership interests in the St. Johns Town Center and The Avenues mall in Jacksonville, spun off Washington Prime as a separate company to operate some of the smaller properties that were in Simons portfolio.

Glimcher Realty CEO Michael Glimcher will become chief executive of the merged company, which will be headquartered in Glimchers offices in Columbus, Ohio. Washington Prime CEO Mark Ordan will become executive chairman of the board of directors.

We went public just three months ago, expecting to utilize our strong platform, relationship with Simon, cash flow and investment grade balance sheet to grow. This transaction with Glimcher checks every box, very early in our companys trajectory, Ordan said in a news release.

WhiteWave announces acquisition

Another somewhat recent spinoff company with interests in Jacksonville announced a deal last week to expand with an acquisition.

WhiteWave Foods Co. announced a $195 million deal to buy So Delicious Dairy Free, which produces plant-based beverages, creamers, cultured products and frozen desserts.

Denver-based WhiteWave also produces a line of plant-based products, including Silk brand foods and beverages and International Delight brand coffee creamers.

The company said the acquisition provides WhiteWave entry into the plant-based frozen dessert market, and it said So Delicious is the No. 1 U.S. brand in that market.

So Delicious had sales of $115 million in the 12-month period ended June 30. WhiteWave had almost $1.6 billion in sales in the six months ended June 30.

WhiteWave was spun off from Dean Foods Inc. with an initial public offering in October 2012.

The company operates four production facilities in Europe and six in the U.S., including one in Jacksonville.

Ranbaxy getsanother U.S. inquiry

Ranbaxy Laboratories Ltd., the India-based pharmaceutical company that has its U.S. sales and marketing office in Jacksonville, is facing another inquiry from a U.S. government agency.

According to a filing with the Bombay Stock Exchange, the U.S. Department of Justice issued a Civil Investigative Demand seeking information on how Ranbaxy reports pricing data for certain products eligible for Medicaid reimbursement.

The CID is a request for documents and information, and is not an allegation of wrongdoing or demand for compensation. The company would fully cooperate with this civil investigation, the filing said.

Ranbaxy has been under scrutiny from U.S. government agencies in the past, including inquiries by the U.S. Food & Drug Administration over quality control concerns at its India manufacturing plants.

In the first quarter ended June 30, Ranbaxy reported a charge of almost 2.4 billion rupees (about $40 million) to provide for possible losses related to on-going settlement discussions with certain government authorities in USA. It gave no further details.

After the charge, Ranbaxy ended the quarter with a net loss of 1.9 billion rupees.

Ranbaxy in April agreed to a $4 billion buyout by another India-based drug company, Sun Pharmaceutical Industries Ltd., that will create the fifth-largest generic drug company in the world.

mbasch@baileypub.com

(904) 356-2466

[…]

Fitch Affirms Notes Issued by NorthStar Student Loan Trust I, Series 2012-1

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings affirms the ‘AAAsf’ ratings assigned to the senior student loan asset-backed notes issued by the NorthStar Student Loan Trust I, series 2012-1 (NorthStar 2012-1). The Rating Outlook on the senior notes is Stable. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS:

High Collateral Quality: Each of the trusts’ collateral consists of 100% of Federal Family Education Loan Program (FFELP) loans. The credit quality of the trust collateral is high, in Fitch’s opinion, based on the guarantees provided by the transaction’s eligible guarantors and reinsurance provided by the U.S. Department of Education (ED) for at least 97% of principal and accrued interest. The current U.S. sovereign rating is ‘AAA’ with a Stable Outlook.

Sufficient Credit Enhancement (CE): The affirmation is based on the sufficient level of CE to cover applicable risk factor stresses. CE is provided by overcollateralization (OC; the excess of trust’s asset balance over bond balance) and excess spread. The parity ratio (total assets to senior liabilities) is currently 106.39% including the Reserve Account and is expected to build over time. The trust is in turbo and there is no cash being released from the trust. In Fitch’s analysis, the notes passed the cash flows corresponding to their rating stresses.

Adequate Liquidity Support: Liquidity support is provided by reserve account which is equal to the greater of 0.25% of the outstanding notes and 0.15% of the initial note balance. The Collection Account must retain a balance of $2 million until Sept. 25, 2015, before those funds can be released to pay down notes.

Satisfactory Servicing Capabilities: Day-to-day servicing is provided by Great Lakes Educational Loan Services, Inc. (Great Lakes) which is not rated by Fitch. Fitch believes the servicing operations are acceptable at this time. Fitch has reviewed the servicing operations of Great Lakes and believes it to be an acceptable servicer of FFELP student loans.

RATING SENSITIVITIES

Since FFELP student loan ABS rely on the U.S. government to reimburse defaults, ‘AAAsf’ FFELP ABS ratings will likely move in tandem with the ‘AAA’ U.S. sovereign rating. Aside from the U.S. sovereign rating, defaults and basis risk account for the majority of the risk embedded in FFELP student loan transactions. Additional defaults and basis shock beyond Fitch’s published stresses could result in future downgrades. Likewise, a buildup of CE driven by positive excess spread given favorable basis factor conditions could lead to future upgrades.

Fitch’s analysis of the Representations and Warranties (R&W) of this transaction can be found in ‘NorthStar Student Loan Trust I, Series 2012-1 Representations and Warranties Presale Appendix’, dated Oct. 10, 2012. These R&W are compared to those of typical R&W for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

Fitch has affirmed the following ratings:

NorthStar Student Loan Trust I, Student Loan Asset-Backed Notes, Series 2012-1:

–Class A at ‘AAAsf’; Outlook Stable.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–‘Global Structured Finance Rating Criteria’ (May 20, 2014);

–‘Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria’ (June 23, 2014).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=754389

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708795

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=878314

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Security Upgrades & DowngradesFinanceFitch Ratingsstudent loanFFELP Contact:

Fitch Ratings

Primary Analyst

Jeffrey Prackup

Director

+1-212-908-0839

Fitch Ratings, Inc.

33 Whitehall Street

New York, NY 10004

or

Secondary Analyst

Harry Kohl

Associate Director

+1-212-908-0837

or

Committee Chairperson

Steven Stubbs

Senior Director

+1-212-908-0676

or

Media Relations:

Sandro Scenga, New York, +1 212-908-0278

Email:

sandro.scenga@fitchratings.com […]

The Cash Store folds with the loss of 120 jobs

The payday lender’s UK operation, which has its head office in Stockport, has been shut down completely

Almost 120 jobs have gone after payday lender The Cash Store went bust.

The company, which has its UK headquarters in Stockport, has entered into administration with FTI Consulting appointed as administrators.

The Cash Store Ltd is a subsidiary of The Cash Store Financial Services Inc and expanded into the UK from Canada.

It has 506 branches in Canada but its 27 UK outlets – many of which are in the north west – are to close.

Administrators FTI said 13 people have lost their jobs at the company’s UK headquarters in Stockport.

Other branches to have suffered are Bolton, Manchester, Rochdale, Blackburn and Preston.

The Cash Store provides a cheque cashing facility which enables the customer to gain instant cash.

The firm also offered the facility to wire transfer money worldwide to more than 135 different countries.

Cash Store Financial operates its Canada branches under the banners “Cash Store Financial” and “Instaloans”.In a statement the administrators said: “Cash Store was loss making and had been reliant on funding from its Canadian parent company which was recently withdrawn. “Cash Store operated as a pay day loan business from 27 stores in the UK and was FCA regulated. “The majority of the stores were based in the north west of England and yorkshire.”Efforts have been made in advance of the administration to seek a buyer of the business as a going concern. “Unfortunately no offers were received for the business as a going concern. Therefore, the business is ceasing to trade with immediate effect and the loans have been sold to a third party.”Customers will be contacted in due course by the purchaser of the debts with information on how customer accounts will be handled.”Unfortunately all of the Cash Store’s 120 employees will be made redundant, the majority with immediate effect. “The administrators’ team are working with the employees to support them in their applications for statutory entitlements. All employees arrears of wages have been paid in full.”Cash Store Greater Manchester redundancies in numbers:Stockport – 13Ashton – 3Blackburn – 3Bolton – 5Bury – 1Farnworth – 1Manchester Fountain Street – 2Rochdale – 1Wigan – 3 […]

Pawn shop victim a flood hero

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Friends and family pay respects at crime scene and in court as accused has name suppression extended.

Flooded farm land in the far north after a storm battered the top of the North Island. Photo / Dean Purcell

One of the men killed in a pawn shop in south Auckland on Saturday had recently returned from helping flood victims in Northland, a witness says.

A number of people laid flowers outside the Ezy Cash loan store on Great South Rd in Takanini yesterday, where police were still examining the scene.

Watch: Two killed in pawn shop attack

Video

Nichola Popata laid a flower made from flax at a makeshift tribute site to the two men, who she described as “beautiful” and very friendly.

“I just wanted to come and pay my respects to Paul Matthews and Paul Fanning, to just share the love with their whanau and let them know we’re thinking about them at this time,” she said.

She had been “shattered” to hear of their deaths, she said, particularly as she had been in the store on Friday, the day before the deaths.

“I was just here on Friday doing some paperwork with them, they were comfortable, easy to talk to,” she said. “We just shared stories.”

Mr Matthews told her how he had recently returned from a 13-hour round trip to Northland, where he was helping his family who had been trapped by last week’s flooding. He had used his four-wheel drive to create a clearing, and “everybody else was able to follow him in a convoy coming out the back of Dargaville roads,” she said.

Ms Popata said she would remember Mr Fanning as a happy man.

“[He] always stands there and laughs and giggles and says, ‘Oh that’s not my job, go see Paul’.”

She was “quite sad to hear what had happened”.

Both men were “big, stocky guys”, and she had been surprised to hear they had been killed in the store.

Other store workers in the area, who did not want to be named, described the men as “fantastic” and “great guys”, who were well liked in the community.

Many were still in shock after the incident, questioning why it had happened.

Two forensic tents were erected yesterday outside the shop, which was cordoned off.

The 25-year-old man accused of murdering the men has had his name suppression extended.

He appeared in Papakura District Court yesterday charged with the murder of the store’s owner Mr Fanning, 69, and his employee Mr Matthews, 47.

The accused was arrested in Huntly on Saturday night. A woman, who was seen leaving the premises with him, was being treated as a witness, police said at the weekend.

The accused stood in the dock yesterday, dressed in a dark T-shirt with a white logo and dark trousers, and was supported in court by his partner, parents and extended family members.

The public gallery of the court was packed to capacity with family members of both the accused and the victims.

Many were upset, and wiped tears from their eyes. Others stood hugging each other in support.

During the sitting one woman shouted at the double-murder accused, calling him “scum”.

Duty lawyer Kersie Khambatta argued that the accused should be granted name suppression to protect his young family.

He has two young children – a 5-year-old son and 3-year-old daughter – with his partner.

Mr Khambatta said the children, and the accused’s younger sister who was still at school, would be subject to “jeers” and harassment from their classmates if his name was published.

There was also a fear that other family members would be identified by association and would be put “at risk”.

“They say that people out there are very angry and non-suppression of details mean that they would be in danger,” Mr Khambatta said.

The accused was granted interim name suppression by Justice of the Peace Tony Charman until 4pm yesterday. However, the accused appealed the interim decision and took it to the High Court.

Justice John Faire extended name suppression until the man’s next court appearance in August. He was remanded in custody.

nzherald.co.nz
Go to tinyurl.com/nzhpawnshop for the latest updates on this case.

APNZ

[…]

Introducing a New Merchant Cash Advance Program That’s Affordable, Comes Without a Credit Check or Need for Collateral …

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Merchant Cash Advance Business Expansion

Introducing a Merchant Cash Advance Program that’s Affordable, Comes without a Credit Check, and No Collateral, Courtesy of BusinessCashAdvanceGuru.com

Nationwide (PRWEB) July 04, 2014

In a recent study conducted by a credit marketplace, over 1,000 small business loan application denials were analyzed. The findings reveal five major national chains, corporate banking institutions routinely turned down loans for small businesses. That’s in line with the National Federation of Independent Business, which in its entrepreneur optimism survey, learned that more business owners have a negative outlook on obtaining financing.

However, the merchant cash advance is booming, lending money at a record rate, especially for its products which give small companies an business loan with bad credit. It’s commonly referred to as a business cash advance, and increasingly, more and more entrepreneurs are applying to receive enough business money with a cash advance. The reason is simple; when asked by journalists why banks deny small business loan applications, the overwhelming response given was due to new federal regulations.

Prior to the national economic downturn, known as the Great Recession, small business lending was robust. Owners of small and medium-sized organizations could simply complete an application and provide a few financial documents for approval. That’s changed drastically. Banks are now reeling from hundreds of millions of dollars in defaulted home mortgages, student loans, auto loans, small business loans, and many other credit debt instruments.

Combined with a wave of new federal banking regulations, which curtail commercial lending, big banks are turning away otherwise creditworthy business. Companies with credit blemishes or bad credit are being denied outright. However, alternative lenders are stepping up to fill the void. A business can apply for a loan online, simply by filling out a short form. Applicant businesses are approved in 24 hours for amounts ranging from $5,000 to $500,000 and receive funds via direct deposit in three to five days.

Funds may be used for any purpose, and there is no credit check or collateral required. With an approval rate of 98 percent, all types of businesses are receiving low-cost, flexible repayment loans which are based on a percentage, not a fixed dollar amount. That means these loans automatically adjust downward during slow sales months to make them more affordable for businesses.

BusinessCashAdvanceGuru.com expanded nationwide services are now available in the following geographical areas:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, and Wyoming.

About Business Cash Advance Guru

http://www.BusinessCashAdvanceGuru.com is a division authorized by TieTechnology, LLC. Business Cash Advance Guru’s merchant cash advance division specializes in helping small business owners realize their dreams. That’s why we created our merchant cash advance program in 2003, and continue to be an merchant cash advance leader in the industry, offering the most flexible payment options and the lowest interest rates and in the business.

About TieTechnology, LLC

http://www.tietechnology.com specializes in small business service based solutions for businesses. Services provided by TieTechnology LLC, include: merchant credit card processing, business service telecommunications, and web based visibility marketing. The advantages of doing business with TieTechnology is their commitment to customer service excellence and their offering of one stop solutions to all business to business service product needs for the customers’ convenience. To learn more about their wide assortment of business services and their specialized divisions, see the following links and descriptions.


[…]

Fitch Affirms North Texas Higher Education Loan Authority, Inc. Series 2012-1 Bond

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings affirms the North Texas Higher Education Authority Inc. (NTHEA) series 2012-1 bond at ‘AAAsf’. The Rating Outlook remains Stable.

KEY RATING DRIVERS

High Collateral Quality: The trust collateral consists of 100% (91.84% Non-Rehab; 8.16% Rehab) of Federal Family Education Loan Program (FFELP) loans. The credit quality of the trust collateral is high, in Fitch’s opinion, based on the guarantees provided by the transaction’s eligible guarantors and reinsurance provided by the U.S. Department of Education (ED) for at least 97% of principal and accrued interest. Fitch currently rates the U.S. ‘AAA’ with a Stable Outlook.

Sufficient Credit Enhancement: Credit Enhancement (CE) is provided by overcollateralization (OC; the excess of trust’s asset balance over bond balance) and excess spread. As of April 2014, total parity is 106.56% (6.16% CE). The trust is a full turbo structure therefore no cash is released until the note is paid in full.

Adequate Liquidity Support: Liquidity support is provided by a reserve account. The reserve is sized equal to the greater of 0.25% of the pool balance, and $ 694,800.

Acceptable Servicing Capabilities: Higher Education Servicing Corporation (HESC) is the master servicer and also provides day-to-day servicing for 36% of the loans. Edfinancial Services, LLC (Edfinancial) services 58% of the loans, and Nelnet Servicing, LLC (Nelnet) services the remaining 7%. Pennsylvania Higher Education Assistance Agency (PHEAA) is the backup servicer for the loans serviced by HESC and Edfinancial. All servicers have demonstrated adequate servicing capabilities.

RATING SENSITIVITIES

Since FFELP student loan ABS rely on the U.S. government to reimburse defaults, ‘AAAsf’ FFELP ABS ratings will likely move in tandem with the ‘AAA’ U.S. sovereign rating. Aside from the U.S. sovereign rating, defaults and basis risk account for the majority of the risk embedded in FFELP student loan transactions. Additional defaults and basis shock beyond Fitch’s published stresses could result in future downgrades. Likewise, a buildup of credit enhancement driven by positive excess spread given favorable basis factor conditions could lead to future upgrades.

Fitch has affirmed the following rating:

North Texas Higher Education Authority, Inc. Series 2012-1:

–Class A at ‘AAAsf’; Outlook Stable.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–‘Global Structured Finance Rating Criteria’ dated May 20, 2014;

–‘Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria’ dated May 17, 2013.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708795

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=836000

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Security Upgrades & DowngradesFinanceFitch RatingsFFELP Contact:

Fitch Ratings

Primary Analyst

Paul Jiang

Analyst

+1-212-908-9120

Fitch Ratings, Inc.

33 Whitehall St.

New York, NY 10004

or

Committee Chairperson

Tracy Wan

Senior Director

+1-212-908-9171

or

Media Relations

Sandro Scenga, New York, +1-212-908-0278

sandro.scenga@fitchratings.com […]

Copper North Announces Loan Conversion

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jun 17, 2014) – Copper North Mining Corp. (“Copper North” or the “Company”) (TSX VENTURE:COL) announces that it will repay the loan (the “Loan”) provided by an insider of the Company (the “Lender”) through a combination of shares and cash as part of its on-going efforts to reduce the Company’s outstanding debt. The conversion of the Loan to equity allows the Company to significantly improve its balance sheet while spending a minimal amount of cash.

As announced on May 8, 2013, the Lender provided Copper North with the $300,000 Loan that carried an interest rate of eight percent (8%) per year. In consideration of the risk taken by the Lender, the Lender was also entitled to a bonus of shares equal to 20% of the principal amount of the Loan.

In accordance with the loan agreement, the Company will repay all amounts due to the Lender under the Loan with a combination of cash and shares. The Company will pay $43,000 in cash and issue 6,860,000 common shares at a deemed price of $0.05 per share to settle amounts owing to the Lender for principal, interest and bonus shares. The issuance of shares is subject to approval by the TSX Venture Exchange. The shares will be subject to a four month and one day hold.

On behalf of the Board of Directors,

Dr. Harlan D. Meade, President, CEO, and Director

About Copper North

Copper North is a Canadian mineral exploration and development company. Copper North’s assets include the Carmacks Copper Project located in the Yukon, and the Redstone Property located in the Northwest Territories. Copper North trades on the TSX Venture Exchange under the symbol COL.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain forward-looking information or forward-looking statements (collectively, “Forward-Looking Information”) for the purposes of applicable securities laws. Forward-Looking Information includes, but is not limited to, statements with respect to the Loan and the repayment thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “will”, “plans” or “expects”. These statements address future events and conditions and, as such, involve known and unknown risk, uncertainties and other factors, which may cause the actual results to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, regulatory approvals and availability of capital. In making the forward-looking statements, the Company has applied several material assumptions, including, but not limited to, the assumptions that the Company will obtain regulatory approval. Although the Company has attempted to identify important factors that could affect the Company and may cause actual events to differ materially from those described herein, there may be other factors that cause events not to be as anticipated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Commodity MarketsStocks & OfferingsTSX Venture Exchange Contact:

Copper North Mining Corp.

Dr. Harlan Meade

President and CEO

604.638.2505

Copper North Mining Corp.

Julien Francois

Chief Financial Officer

604.638.2505

info@coppernorthmining.com
www.coppernorthmining.com […]