Xinergy shareholders on Wednesday endorsed management’s
nominees for the company’s board of directors, but defeated resolutions that
would have awarded CEO Matt Goldfarb options to buy more than a half-million
shares of company stock.
Goldfarb easily held onto his board seat, but the 32.1 percent of
shareholder votes withheld from the CEO were easily the largest such “no” votes
for director candidates, according to a news release.
Directors Stephen Loukas and Jay Thornton were relected with
votes at 21.7 percent and 18 percent of withheld votes, respectively.
Two separate resolutions that would have given Goldfarb
stock options were rejected by shareholders.
The Street Ratings has changed its mind about Ruby Tuesday, downgrading the Maryville-based restaurant chain’s stock from buy to hold.
Despite Ruby Tuesday’s revenue growth and “and largely solid financial position with reasonable debt level,” The Street Ratings cited “deteriorating net income and disappointing return on equity” as reasons for the downgrade.
Oil and natural gas company Tengasco Inc.’s stock has been downgraded by TheStreet Ratings from buy to hold.
The Knoxville-based company’s weak cash flow overshadows its revenue and profit growth, TheStreet, a digital financial media company, said today.
“The revenue growth came in higher than the industry average of 11.9%. Since the same quarter one year prior, revenues rose by 35.6%. This growth in revenue does not appear to have trickled down to the company’s bottom line, displaying stagnant earnings per share,” TheStreet reported.
Despite disappointing first quarter earnings, restaurant chain Ruby Tuesday stock was upgraded today by TheStreet Ratings.
TheStreet, a digital financial media company, upped the Maryville-based casual dining chain from hold to buy.
“The company’s strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income,” TheStreet Ratings said.
Scripps Networks Interactive continues to prove it is one of Knoxville’s best business success stories of recent years.
The Knoxville-based lifestyle media company today reported a first quarter profit of $101 million, or 59 cents per share, up 39 percent from $72.5 million, or 43 cents per share, in the first quarter last year.
Revenues for the quarter eneded March 31 rose 14 percent to $536 million, driven by increased advertising and affiliate fees.