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ARCC

Ares Capital

6/18/2013, 2:58 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 12, 6:43 AM Ares Capital (ARCC) files a shelf registration for the issuance of up to $3B in common or preferred stock, debt, subscription rights, warrants, etc. Shares off 0.95% premarket. Comment! [Financials]
Monday, June 3, 11:52 AM Business development companies (BDCS -1.1%) see some selling as higher interest rates threaten to offer at least minor competition to their fat dividends. The drop in junk bond prices - a decent proxy for the assets on their books - isn't helping either. Leading on the downside today: Main Street (MAIN -4.5%), American Capital (ACAS -2.4%), Prospect Capital (PSEC -1.4%), Ares Capital (ARCC -1.1%), Blackrock Kelso (BKCC -1.1%). 5 Comments [Financials, On the Move]
Tuesday, May 7, 9:17 AM Ares Capital (ARCC) declares $0.38/share quarterly dividend, in line with previous. Forward yield 8.38%. For shareholders of record June 14. Payable June 28. Ex-div date June 12. (PR) Comment! [Dividends]
Tuesday, May 7, 8:11 AM More on Ares Capital (ARCC) Q1 earnings: Core EPS of $0.38 unchanged Y/Y. NAV of $15.98 vs. $16.04 on Dec. 31, current stock price of $18.14. $410M of new commitments in Q1. Weighted average yield on all investments of 9.9% vs. 10.5% a year ago. CC at 12 ET. (PR) Comment! [Earnings, Financials]
Tuesday, May 7, 8:03 AM Ares Capital (ARCC): Q1 EPS of $0.38 misses by $0.01. (PR) Comment! [Earnings, Breaking News, Financials]
Tuesday, May 7, 12:05 AM Notable earnings before Tuesday’s open: ACM, AFAM, AKRX, ALLT, ARCC, ARIA, BCRX, CHTR, CMLP, CNK, CQB, CRZO, CVLT, DFT, DISCA, DTV, DWRE, EMR, ENDP, FE, FOSL, HCN, HFC, HPT, HSIC, KWK, LPX, NRG, NRGY, NVAX, OAK, OMX, PQ, PRGO, RIGL, SHOO, TA, TAP, TDG, TGH, TICC, TRGT, TW, WRES, XEC 2 Comments [Earnings]
Monday, May 6, 5:30 PM Notable earnings before Tuesday's open: ACM, AFAM, AKRX, ALLT, ARCC, ARIA, BCRX, CHTR, CMLP, CNK, CQB, CRZO, CVLT, DFT, DISCA, DTV, DWRE, EMR, ENDP, FE, FOSL, HCN, HFC, HPT, HSIC, KWK, LPX, NRG, NRGY, NVAX, OAK, OMX, PQ, PRGO, RIGL, SHOO, TA, TAP, TDG, TGH, TICC, TRGT, TW, WRES, XEC Comment! [Earnings]
Monday, May 6, 4:28 PM Ares Capital (ARCC) promotes President Michael Arougheti to CEO. He has been president of the firm since the 2004 IPO and a director since 2009. The company also brings on 4 executives from investment adviser Ares Capital Management to officer roles within Ares Capital. (PR) Comment! [Breaking News, Financials]
Thursday, May 2, 12:59 PM American Capital (ACAS +1.9%) gets a little love from Wells Fargo after yesterday's post-earnings swoon. The stock trades at a massive discount to its BDC brethren - 0.74x NAV compared to 1.08x for the group - likely because of its policy of buying back shares instead of paying a dividend. Did ACAS have credit issues during the financial crisis? Yes, but no more so than MCGC which trades at book. "Market irrationality," say the analysts. 6 Comments [Financials, Quick Ideas]
Wednesday, April 24, 9:02 AM Already having a nice week after a positive mention in Barron's over the weekend, Ares Capital (ARCC) gains 1.3% premarket after JPMorgan ups the stock to Buy with $18.50 price target. Comment! [Financials, On the Move]
Monday, April 22, 10:46 AM A selection of BDCs (HTGC, GBDC, NMFC, ARCC, FSC) are on the rise after a weekend Barron's article suggests high-yield fans (HYG, JNK) receiving around a 5% yield might consider a bit of "valuation arbitrage." BDCs yielding north of 8% loan money to non-IG companies, but their paper is better-protected than junk bonds. Rising recognition of this could narrow the gap, suggests Wells' Jonathan Bock. BIZD +1.2%. 4 Comments [Financials]
Wednesday, April 3, 8:59 AM Ares Capital (ARCC) prices its 16.65M share secondary at an undisclosed price, but the shares are -2.4% premarket to $17.58, giving a fairly good idea. The underwriters retain an option to purchase about 2.5M more shares. Together with the option (should it be exercised), the offering adds about 7.6% to the float. (PR) 2 Comments [Financials, On the Move]
Tuesday, April 2, 5:09 PM Ares Capital (ARCC) announces a 16.65M share public offering, with an additional option to purchase up to an additional 2,497,500 shares. The company expects to use the net proceeds to repay part of its debt facility, as well as other general corporate purposes, including investing in its portfolio companies. Shares -2.7% AH. 1 Comment [Financials, On the Move]
Tuesday, March 26, 10:36 AM Investors may want to take profits in BDCs, says Wells Fargo, downgrading the sector to Hold. New investment yields are near historic lows despite higher leverage multiples and a spike in covenant-lite deals, says Wells, a risky combination. Individual downgrades: AINV, PSEC, BKCC, TICC, HRZN, PNNT, TCRD, MCC. A few upgrades make the mix: HTGG, GBDC, ARCC, NMFC. 14 Comments [Financials]
Thursday, February 28, 11:21 AM Billed as a private equity ETF, the newly listed PEX owns no Blackstone, KKR, or Fortress. The top U.S. holdings - ARCC, ACAS, PSEC, AINV, FSC - will be well-known to fans of BDCs though. 9 Comments [Financials]
Wednesday, February 27, 8:59 AM Ares Capital Corporation (ARCC) declares $0.38/share quarterly dividend, in line with previous. Forward yield 8.37%. For shareholders of record Mar. 15. Payable Mar. 29. Ex-div date Mar. 13. (PR) Comment! [Dividends]