Boston, MA 03/28/2014 (wallstreetpr) – It is emerging that two directors resigned from the board of Noranda Aluminum Holding Corporation (NYSE:NOR). The disclosure was made in SEC regulatory filing. The resignations were effective as of March 26, the filing revealed. According to SEC documents relating to the filing, Mr. Robert A. Kasdin, SVP of Columbia University and Gareth Turner, representing investor Apollo Global Management left the board of the aluminum company. The news about the resignation of the two directors came just when the dispute over improper earnings between Noranda and utility provider Ameren took a new twit with unsealing of confidential documents. It emerged that Ameren pocketed more money on top of what was allowed, the documents showed. The issue revolves around the correct rate of return on equity that is allowed for Ameren to take home. Thus, it emerged that the utility company was taking more than 9.8 percent instead of only 9.4 percent. As the issue of earnings escalates, Noranda Aluminum Holding Corporation (NYSE:NOR) is also asking for reduction on electricity rates, failure of which the company said it would be forced to adjust down its workforce at New Madrid plant.
Shares of Signet Jewelers Ltd. (NYSE:SIG) benefited from the solid financial results which the jewelry retailer released. The company also went further to place forward a very positive outlook for the current quarter at a time when its peers were being cautious. Moreover, SIG announced 20 percent dividend hike. As for the earnings, the company exceeded Wall Street expectations for the fourth quarter ending February 1. Earnings per share came in at $2.18 on revenue of $1.56 billion. The latest revenue figure grew 3.4 percent over the comparable quarter a year ago. On their part, analysts expected Signet Jewelers Ltd. (NYSE:SIG) to report EPS of $2.15 on revenue of $1.55 billion.
Companhia Energetica Minas Gerais (ADR) (NYSE:CIG) had its stock coverage assumed at Goldman Sachs Group Inc (NYSE:GS). The firm assigned buy rating on the stock. That positive rating of the stock came hot on the heels of the upgrade from Zacks, where analysts at Zacks assigned neutral on the stock from underperform. Zacks has $8.25 price target on CIG. Shares of the company closed at $6.74 after yesterday’s more than 8 percent gain.
