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Fly News Breaks for August 26, 2015
SO, GLPW
Aug 26, 2015 | 08:24 EDT
After Global Power (GLPW) announced two contract extensions and the termination of a large contract with Southern Company (SO) yesterday, William Blair estimated that the net result is a loss of close to $70M of revenue annually and lowered its estimates for 2015 and 2016 accordingly. The firm, which said Global Power's restatement of prior financial statements and filing of its Q1 and Q2 financials are likely the most critical factor for potentially providing support to shares in the near term, keeps its Market Perform rating on the stock.
News For GLPW;SO From the Last 2 Days
