On Monday, in the course of current trade, Shares of Denbury Resources Inc. (NYSE:DNR), dropped -2.56%, and is now trading at $6.84, as oil fell by up to 1 percent on Monday on a slump in Chinese demand and worries that OPEC’s decision to pump without restraint could prolong the current supply glut, although a weaker dollar limited losses.
China, the top net oil importer in the world, bought about a quarter less crude oil in May than it did in April, official data showed on Monday. In the oil products category, imports fell by more than 6 percent, against a 10 percent drop in exports. Reuters Reports.
Traders said refineries in China used more crude from stockpiles last month, leading to lower imports. A higher number of processing plants for crude were also offline for maintenance, leading to the drag on demand, some said. Reuters added.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide.
During an Afternoon trade, Shares of Jumei International Holding Limited (NYSE:JMEI), dipped -2.25%, and is now trading at $23.43.
Jumei International, declared that it has attained a minority stake in It’S SKIN, a Korean beauty brand.
It’S SKIN is a prestige Korean beauty brand that has become very popular amongst Chinese consumers.
Mr. Leo Ou Chen, founder and CEO of Jumei, stated, “The popularity of Korean beauty products in China has grown rapidly over the past few years. With an extensive catalogue of prestige products, It’S SKIN is an ideal partner for Jumei to collaborate with as we build Jumei Global into the largest cross border e-commerce platform in China. It’S SKIN will greatly benefit from the growing size and scale of our platform.”
Jumei International Holding Limited operates as an online retailer of beauty products in the People’s Republic of China. The company offers beauty products, such as cosmetics, skin care, cosmetic applicators, fragrance, and body care products; and beauty products for men, and baby and children.
Finally, Media General, Inc. (NYSE:MEG), lost -1.89% Monday.
On May 18, Media General declared the opening of a new Washington, D.C. Bureau and named Jim Osman, 18-time Emmy Award winning political and investigative reporter, as the Company’s Washington, D.C. Bureau Chief.
Media General’s Washington, D.C. Bureau will provide breaking news, political news and analysis, in-depth investigative reporting, and other stories of interest to the Company’s local television stations in 48 markets nationwide, in addition to its content-producing digital businesses.
“Through our Washington, D.C. News Bureau, we will be able to produce and distribute more in-depth coverage and analysis of federal policies and issues that impact the communities we serve,” said Vincent Sadusky, Media General’s President and Chief Executive Officer. “Jim’s background, knowledge and relationships with key constituents on the Hill make him a terrific fit for this new hybrid administration and journalist position. We are thrilled he has joined our team.”
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets.
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