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IO

ION Geophysical

$7.35

-0.1 (-1.34%)

16:57
11/18/16
11/18
16:57
11/18/16
16:57

ION announces order in WesternGeco case cutting appeal bond to $65M

ION Geophysical Corporation announced that on November 14, 2016, the trial court issued an order in the previously-reported lawsuit of WesternGeco L.L.C. v. ION Geophysical Corporation that reduced the amount of the appeal bond from $120M to $65M, ordered the sureties to pay principal and interest on the royalty previously awarded in the amount of approximately $22M and declined to issue a final judgment until after consideration of whether enhanced damages should be awarded in the case. Brian Hanson, ION's Chief Executive Officer, commented, "While we were disappointed with the unusual decision by the trial court ordering the sureties to pay the royalty damages and interest without a final judgment, we intend to respect the trial court's decision by transferring up to $22M to WesternGeco in lieu of having WesternGeco exercise its remedies against the sureties. It comes at a time where we have both right sized our business and built sufficient liquidity of approximately $80M to both fund this payment and support normal business operations."

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MasterCard

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WCC

WESCO

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TIME

Time Inc.

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Time Inc. backs FY17 outlook, sees revenue approx. $3B, consensus $3B »

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RCL

Royal Caribbean

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Royal Caribbean raises FY17 adjusted EPS view to $7.00-$7.20, consensus $7.06 »

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Exxon Mobil

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Exxon Mobil says results reflect commodity price increases, better cost control »

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RBS

RBS

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Time Inc.

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Time Inc.

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Royal Caribbean

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SoftBank

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, MSFT

Microsoft

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Periodicals
Microsoft, Qualcomm to launch ARM notebook, DigiTimes says »

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SFTBF

SoftBank

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Microsoft

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QCOM

Qualcomm

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Lenovo

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Intel

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XOM

Exxon Mobil

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TIME

Time Inc.

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Time Inc.

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AMZN

Amazon.com

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9.09 (1.00%)

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ALGN

Align Technology

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0.35 (0.29%)

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MTRN

Materion

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Materion backs FY17 EPS view $1.45-$1.60, consensus $1.51 »

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Treasury Market Outlook: European bonds are weaker »

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MTRN

Materion

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Materion reports Q1 adjusted EPS 29c, consensus 27c »

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SWN

Southwestern Energy

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-0.16 (-2.04%)

07:59
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Southwestern Energy trades sharply higher following earnings beat »

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IMO

Imperial Oil

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Imperial Oil reports Q1 EPS 39c, consensus 37c »

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MTRN

Materion

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Breaking Hot Stocks news story on Materion »

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WCN

Waste Connections

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3.3 (3.69%)

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MSFT

Microsoft

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MOG.A

Moog

$69.18

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07:58
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Earnings
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WDC

Western Digital

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1.1 (1.30%)

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Western Digital analyst commentary  »

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