UPDATE: Maxim Cuts Genco Shipping (GNK) to Sell, Price Target Slashed to $0.25
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Genco Shipping (GNK) trading paused for volatility
April 4, 2014 9:52 AM EDTGenco Shipping & Trading Ltd. (NYSE: GNK) trading paused for volatility.
... MorePre-Open Stock Movers 4/4: (SNX) (CSUN) (MYL) Higher; (HALO) (OPTT) (GNK) Lower (more...)
April 4, 2014 9:34 AM EDTHalozyme Therapeutics, Inc. (Nasdaq: HALO) 29% LOWER; announced that as a result of a recommendation received yesterday from an independent Data Monitoring Committee (DMC), it is temporarily halting patient enrollment and dosing of PEGPH20 in an ongoing Phase 2 trial (Study 202) evaluating PEGPH20 in patients with pancreatic cancer. The DMC is assessing clinical data that indicates a possible difference in the thromboembolic event rate between the group of patients treated with PEGPH20, nab-paclitaxel and gemcitabine versus the group of patients treated with nab-paclitaxel and gemcitabine without PEGPH20. The Company is... More
Genco Shipping & Trading (GNK) Enters Pact with Lenders
April 3, 2014 5:38 PM EDTOn April 3, 2014, Genco Shipping & Trading Ltd. (NYSE: GNK) and certain of its subsidiaries entered into a Restructuring Support Agreement (the Support Agreement) with certain lenders (the Supporting Lenders) under each of (i) the Credit Agreement, dated as of July 20, 2007 (as amended to date), by and among the Company as borrower, the banks and other financial institutions named therein as lenders, Wilmington Trust, N.A., as successor administrative and collateral agent, and the other parties thereto (as amended, the 2007 Facility); (ii) the Loan Agreement, dated as of August 20, 2010 (as amended to date), by and among the Company as... More
Genco Shipping (GNK): Near-Term Restructuring/Chapter 11 is Highly Likely, Says Wells Fargo
April 2, 2014 2:48 PM EDTWells Fargo reiterated an Underperform rating on Genco Shipping (NYSE: GNK). Analyst Michael Webber thinks a near-term restructuring/chapter 11 is highly likely
"On 3/31 GNK announced waiver agreements with lenders under its $1.1B credit facility, $100MM term loan and $253MM term loan which waived several covenant compliance requirements through 4/1. These waivers were granted as GNK... More
