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STORE Capital Corporation latest news:

  • 01/16/2018 12:48:59

    Bon-Ton Stores enters forbearance agreement with lenders after missing $14 million interest payment

    Troubled department-store operator Bon-Ton Stores Inc. said Tuesday it has entered forbearance agreements with some of its lenders, after failing to make a $14 million interest payment. The interest payment was due Dec. 15, but the company opted to take a 30-day grace period that has now ended. Under the terms of the forbearance agreements which Bon Ton made with its ABL Credit Agreement lenders and a group of holders of about 75% of the company's 8.0% second lien secured notes that mature in 2021, lenders have agreed not to exercise any remedies available to them for the missed payment. The agreements expire on Jan. 26, unless further extended. "As previously disclosed, the Company is engaged in ongoing discussions with its debt holders in an effort to strengthen its capital structure to support the business," Bon-Ton said in a statement. The notes were last trading at 25 cents on the dollar, according to trading platform MarketAxess, but that was 9 points higher than their trading level on Friday. Shares, which trade over-the-counter, were down about 31% on Tuesday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

  • 01/16/2018 09:52:46

    GE credit ratings affirmed at Moody's, with 'stable' outlooks

    General Electric Co.'s credit ratings were affirmed Tuesday at Moody's Investors Service, based on the plans GE Capital plans to take in response to the billions in insurance-related charges and statutory capital contributions announced before the market's open. The long-term debt rating is A2 and the short-term rating is P-1, and the outlooks on the ratings are "stable." The actions GE Capital plans to undertake to restore capital adequacy and preserve liquidity in the face of the charges and capital contributions include the suspension of dividends to GE and a further reduction of assets. "Together with the increase in insurance reserves, this will moderate asset and refinancing risks and strengthen capital levels," Moody's said in a statement. "Moody's estimates that GE Capital's plan will restore leverage to the company's September levels within two years and to within a more acceptable long-term range of 11% to 12% within three years." Earlier, Fitch Ratings affirmed GE's rating, but said the risk of a downgrade increased after the insurance charge. The stock dropped 3.7% in midday trade. It has plunged 23% over the past three months, while the Dow Jones Industrial Average has climbed 13%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

  • 11/13/2017 05:46:59

    Tyson shares rise after earnings and sales beat

    Tyson Foods Inc. shares rose 3.9% in Monday premarket trading after the company reported fourth-quarter earnings and sales beat estimates. Net income totaled $394.0 million, or $1.07 per share, up from $391.0 million, or $1.03 per share, for the same period last year. Adjusted EPS was $1.43, beating the $1.35 FactSet consensus. Revenue was $10.1 billion, up from $9.2 billion last year and beating the $9.9 billion FactSet estimate. Tyson brands include Jimmy Dean, Hillshire Farm, Ball Park and its namesake. The company began to divest itself of non-protein businesses during the quarter, part of an effort to focus on protein brands. And the company is integrating AdvancePierre Foods, a recent acquisition, that will provide manufacturing capabilities for sandwiches and prepared foods and increase Tyson's presence at convenience stores, according to a statement from Chief Executive Tom Hayes. The company expects $200 million in savings in fiscal 2018, fiscal year capital expenditures of $1.4 billion, and doesn't plan to repurchase shares until it a net debt of around twice EBITDA (earnings before interest, taxes, depreciation and amortization). Tyson shares are up 13.1% for the last three months, and up 20.2% for the year so far. The S&P 500 index is up 15.3% for 2017 to date.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

  • 10/26/2017 12:10:29

    Stein Mart to cut 10% of its corporate office workforce

    Shares of Stein Mart Inc. slipped 0.4% in afternoon trade Thursday, after the Florida-based discount department store chain it would cut its corporate office workforce by 10%, as part of ongoing cost cutting efforts. The company expects to cuts to save about $10 million in 2018. The job cuts are in addition to previously-announced cost-cutting measures, such as the suspension of the dividend announced in May, lowering inventories by 15% and cutting capital expenditures by $22 million. "While we believe our sales-driving strategies are now taking hold, we are still in a very challenging retail environment," said Chief Executive Hunt Hawkins. The stock has plunged 78.4% year to date, while the SPDR S&P Retail ETF has slipped 7.2% and the S&P 500 has gained 14.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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