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RDI

Reading International

$4.12 /

+0.39 (+10.46%)

20:03
03/26/20
03/26
20:03
03/26/20
20:03

Reading International closes all company's cinemas in U.S., Australia, NZ

Reading International announced business updates in response to the continued impact of COVID-19, or coronavirus. As of March 23, 2020, all of the company's cinemas in the United States, Australia, and New Zealand are temporarily closed in accordance with the directions and recommendations of the relevant federal, state and local authorities. With respect to the company's real estate operations in Australia and New Zealand, the majority of the tenants operating at each of these centers prior to the COVID-19 crisis, have temporarily suspended operations at the direction and recommendation of the local governmental authorities. In light of the temporary closures of most of its cinema and real estate operations, and due to the continued uncertainty in the market due to COVID-19, the company took swift action to increase the company's financial flexibility, including renewing and amending credit facilities and drawing funds under certain of the credit facilities, thereby increasing cash on hand. In addition, the company has implemented actions to further improve liquidity by reducing non-essential capital expenditures and operating expenses, as well as other actions.

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Posco

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Kose Corp. upgraded to Overweight from Equal Weight at Morgan Stanley » 05:46
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Kose Corp.

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Transportadora de Gas del Sur SA upgraded to Equal Weight at Morgan Stanley » 05:45
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Transportadora de Gas del Sur SA

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IFF upgraded to Neutral from Underperform at Exane BNP Paribas » 05:44
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IFF

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ZM

Zoom Video

$128.08 /

+6.24 (+5.12%)

Credit Suisse analyst…

Credit Suisse analyst Brad Zelnick downgraded Zoom Video Communications (ZM) to Underperform from Neutral with a price target of $105, up from $95. The stock closed Friday up $6.27 to $128.20. Trading at 40 times 2020 consensus revenue expectations, the current share price embeds significantly greater conversion of free users than an upside model scenario suggests, Zelnick tells investors in a research note. While Zoom is benefiting from having the "best product at the right time," the overall category remains competitive and every unified communication as a service vendor will eventually offer its own video solution, contends the analyst. Zelnick highlight RingCentral's (RNG) recent announcement to migrate away from white labeling Zoom as an example. Further, Zoom's exponential growth in usage has resulted in additional scrutiny of its technology, leading to a recent spike in security concerns, adds the analyst.

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Altra Industrial Motion

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Zoom Video

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$479.71 /

+25.715 (+5.66%)

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Acceleron

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LEG

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$22.70 /

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Masco upgraded to Overweight from Equal Weight at Barclays » 05:00
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MAS

Masco

$32.41 /

-0.605 (-1.83%)

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SPOT

Spotify

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