Northern, WI 05/07/2013 (usmarketsdaily) - As the First Security Group Inc. (NASDAQ:FSGI) (Closed: $5.24, Up by 29.06%) completed its strategic recapitalization to raise capital for its FSG Bank, the fundamentals of the company were strengthened effectively. The company managed to raise around $91.1 million through TRAP CPP Preferred stock and common stock. The TARP CPP Preferred stock of 9.9 million shares was handed over to the US treasury to meet out the statutory requirements. Further, 50.8 million shares were offered as common stock for the institutional and other accredited investors at the rate of $1.50 per share. First Security Group Inc. (NASDAQ:FSGI) used the proceedings from the recapitalization to meet out the capital adequacy requirements of FSG Bank and to thereby enhance the balance sheet growth of the bank. The recapitalization move of First Security Group Inc. (NASDAQ:FSGI) has resulted in marginal optimism in the investor sentiment towards the stock.
YRC Worldwide Inc. (NASDAQ:YRCW)
The market leader in trucking service, YRC Worldwide Inc. (NASDAQ:YRCW) (Closed: $15.44, Up by 41.00%) managed to lower its expenses effectively thereby resulting in a reduction in the operating losses of the company. As the company’s first quarter were not as worse as expected by the forecasts, the stock of YRC Worldwide Inc. (NASDAQ:YRCW) surged by 21 percent to $9.38 and the stock had gained by around 15 percent in its share price this year. The trucking company was paying off to bankruptcy protection filings against its operations since late 2009. From then on, the management at YRC Worldwide Inc. (NASDAQ:YRCW) had effectively taken steps to streamline the operations of the firm which had finally paid off with reduced losses. The investors are further optimistic about the future growth of the company.