Boston, MA 10/08/2014 (wallstreetpr) – HOUSTON headquartered oil and gas production firm Endeavour International Corporation (NYSE:END) announced on 7th October that itself and few of its subsidiaries had entered into an agreement which extends its previously inked forbearance agreements. The extension agreement was signed with debtors who own the three sets of Priority Notes issued by the oil firm. The notes carry varying interest liabilities and are due between 2016 and 2018. The new arrangement comes on the back of the firm defaulting on its September 2, 2014 interest payout schedule. The default had triggered a 30 day wait period which also expired on 1st of October. On the back of this news, the shares of the company tumbled by close to 17.6 percent during 17th October trading.
Shares of Container Store Group Inc (NYSE:TCS) were heavily sold yesterday. The steep sell off in the stock occurred after the firm disclosed that its same stores sales had dropped by nearly 0.4 percent during the critical summer month’s period. This resulted in the firm deciding to reduce its sales forecast for the second consecutive time this fiscal. The weak outlook sent the investors in the stock scurrying for cover, leading to a near 25 percent dip in its share price during yesterday’s trading. The firm has blamed the dip in sales to the diminishing foot falls into its stores in spite of heavy promotional discounts being offered.
Christopher & Banks Corporation (NYSE:CBK) was down by nearly 32 percent during 7th October trading. This was due to the weak revenue forecast given by the speciality women’s clothing retailer for its 3Q operations. Minneapolis headquartered company has indicated that its regular customers are being weaned away by online and e-commerce firms which are able to better compete on price. The retailer owns or operates nearly 553 stores across U.S.
