This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Apparel, FuelCell: Volume Movers

NEW YORK ( TheStreet) -- American Apparel (APP) was one of several stocks trading near $5 poised to move on above-average volume Friday after the clothing maker amended a credit agreement and a billionaire investor disclosed a stake in the company.

American Apparel said in a regulatory filing that it had amended its credit agreement with Lion/Hollywood, replacing a total debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, financial covenant with a minimum EBITDA financial covenant while raising the interest rate payable from 15% to 17%.

In addition, Lion is entitled to certain board representation and registration nights and was issued a warrant to purchase 16 million shares of American Apparel's common stock at an exercise price of $2 per share.

In a separate regulatory filing, billionaire investor Ronald Burkle said he now holds a 6% stake in American Apparel. The filing shows that between June 10 and June 21, Burkle acquired 4.31 million shares of the apparel maker for approximately $5.93 million.

American Apparel shares were poised to rally after slipping 0.6% to close at $1.77 Thursday. The three-month average daily volume for American Apparel is 89,000, according to Yahoo! Finance.

Elsewhere, FSI International (FSII) fell by 18 cents, or 3.9%, to $4.40 in Thursday's after-market session even after the company posted third-quarter earnings of 18 cents a share, swinging from a year-ago loss of 9 cents a share, on revenue of $28.7 million. Those figures topped the Thomson Reuters average estimate for a profit of 16 cents a share on revenue of $28.1 million.

Looking ahead, FSI International said it expects net income of $5 million to $6 million in its fiscal fourth quarter on revenue of $27 million to $30 million, compared with the consensus target of $29.4 million. The 50-day average daily volume for FSI International is 89,000, according to the Nasdaq.

FuelCell Energy (FCEL - Get Report) dropped by 7 cents, or 4.7%, to $1.43 in Thursday's late trading session after the company said it plans to offer shares of common stock, although the ultra-clean power plants manufacturer did not divulge the size or price of the proposed offering. The 50-day average daily volume for FuelCell is 89,000.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ALTI $0.01 999900.00%
APP $0.01 -26.70%
FCEL $4.70 -1.67%
AAPL $93.70 -0.60%
FB $101.91 0.90%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs