On Wednesday, Shares of Petroleo Brasileiro SA - Petrobras (ADR) (NYSE:PBR), shares showed no change to $5.03. 37.80 million shares of the company were exchanged.
The stock is down -31.10% in this year through last close, and the beta ratio has a value of 2.31. The stock, as of recent close, has shown weekly downbeat performance of -6.33% which was maintained at 10.79% in 1-month period.
Petroleo Brasileiro, the world’s biggest junk-rated borrower, canceled a plan to sell 3 billion reais ($790 million) of local bonds, according to a person familiar with the matter told Bloomberg.
Petrobras couldn’t raise as much as it wanted because of lackluster demand after the state-controlled oil producer’s credit rating was cut to junk by Standard & Poor’s last month, said the person, who asked not to be identified because the information is private. It could attempt to sell the bonds at a later date, the person said. The company’s press office didn’t right away respond to a request for comment.
The cancellation marks a fresh blow to Petrobras, which is already suffering from a tumble in crude prices and a wide-ranging investigation into alleged kickback schemes. The Rio de Janeiro-based company’s shares have tumbled 63 percent in the past year and its bonds are trading at distressed levels. S&P downgraded the issuer on Sept. 10 and global demand for Petrobras securities is also being sapped by the real’s 30 percent plunge against the dollar this year and efforts to impeach President Dilma Rousseff. Bloomberg Reports
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of Delta Air Lines, Inc. (NYSE:DAL), surged 1.78% to $48.58, during its last trading session.
Delta Air Lines (DAL), on Wednesday forecast a buyer’s market for used widebody planes, raising concern about Boeing Co’s ability to command prices for new aircraft when airlines can buy old ones on the cheap.
Boeing shares fell more than 4 percent after Delta’s Chief Executive Richard Anderson said he anticipates prices for used twin-aisle jets to fall. That could pressure prices of new aircraft still coming off production lines, according to Reuters.
Anderson said on a telephone call with media that the used widebody market was a “bubble” and “ripe” for acquisitions by Delta over the next 12 to 36 months.
The news comes after a year of low fuel prices has encouraged some airlines to think twice about spending billions of dollars on next-generation jets, which assist carriers decrease their intake of fuel, their largest variable expense. Reuters Reports
Delta Air Lines, Inc. provides planned air transportation for passengers and cargo worldwide. The company operates in two segments, Airline and Refinery. Its route network comprises various gateway airports in Amsterdam, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita.
Finally, Shares of Eli Lilly and Co (NYSE:LLY), ended its last trade with -0.46% loss, and closed at $79.25.
Boehringer Ingelheim Pharmaceuticals, Inc. (BIPI) and Eli Lilly and Company (LLY) declared that Synjardy® (empagliflozin/metformin hydrochloride) tablets are now accessible by prescription in pharmacies across the United States. The U.S. Food and Drug Administration (FDA) approved SYNJARDY at the end of August as an adjunct to diet and exercise to improve glycemic control in adults with T2D who are not adequately controlled on a regimen containing empagliflozin or metformin alone, or in patients already being treated with empagliflozin and metformin.
SYNJARDY is a combination of Jardiance® (empagliflozin) and metformin — two medicines with complementary mechanisms of action – to assist control blood glucose in people with T2D. Empagliflozin, a sodium glucose co-transporter-2 (SGLT2) inhibitor, removes excess glucose through the urine by blocking glucose re-absorption in the kidney. Metformin, a commonly prescribed initial treatment for T2D, lowers glucose production by the liver and its absorption in the intestine.
The SYNJARDY label contains a boxed warning for the risk of lactic acidosis, a serious metabolic complication that can occur due to metformin accumulation during treatment with SYNJARDY.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates through two segments, Human Pharmaceutical Products and Animal Health Products.
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