Navios Maritime announced the appointment of Jeremy Bryan as COO of Navios Corporation effective as of February 1, 2019. Bryan joins Navios Corporation from Cargill International where he worked since 1992. Bryan served in various positions during his tenure there, most recently as global head of drybulk trading.
Navios Maritime announced that on April 18, the company was notified by the New York Stock Exchange that it was no longer in compliance with the NYSE's continued listing standards because the average closing price of the company's common stock over a consecutive 30 trading-day period was less than $1.00 per share. The NYSE's notification has no impact on the company's business operations. The company has confirmed to the NYSE its intent to cure this deficiency within the prescribed timeframe set out in the NYSE's Listed Company Manual. During this time, the company's common stock will continue to be listed and trade on the NYSE. The NYSE's notification does not affect the company's SEC reporting requirements.
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) downgraded to Sell from Hold at Craig-Hallum with analyst Brad Berning saying investors should use the company's easier comps in the first half of 2018 to take profits ahead of tougher comps in the second half of the year. 2. Paycom (PAYC) downgraded to Hold from Buy at Stifel with analyst Brad Reback saying he does not expect shares to outperform over the next twelve months, despite viewing Paycom as a leading mid-market human capital management provider and believes shares "deserve" to trade at some premium to Ultimate Software (ULTI) and Paylocity (PCTY) given modestly-higher growth and significantly-higher operating margin. 3. Buckeye Partners (BPL) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Tom Abrams citing the recent FERC ruling on cost of service pipelines. 4. Micron (MU) downgraded to Neutral from Buy at Citi with analyst Christopher Danely saying he sees downside risk to consensus estimates with NAND prices falling and believes the stock's current risk/reward profile no longer warrants a Buy rating. 5. Navios Maritime (NM) and Navios Maritime Midstream (NAP) were downgraded to Underweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Navios Maritime downgraded to Underweight from Neutral at JPMorgan. JPMorgan analyst Noah Parquette downgraded Navios Maritime Holdings to Underweight without a price target. The rating change is part of the analyst's rebalancing of his Maritime coverage.