On Monday, Shares of Peabody Energy Corporation (NYSE:BTU), surged 12.97% to $2.70.
Last week, Peabody Energy’s deteriorating credit situation was in the spotlight after credit rating agency, Moody’s Investor Service, downgraded the company’s ratings. Peabody’s corporate family rating was lowered from B3 to Caa1, while its probability of default was downgraded from B3-PD to Caa1-PD. Speculative grade liquidity rating, however, was maintained at SGL-3.
According to analysts at Moody’s, the downgrade reflects the agency’s expectation that Peabody’s credit ratios will continue to be weak, primarily because of a slow recovery in coal markets.
With the coal industry’s outlook still concerning, Moody’s has put the newly-downgraded ratings under review for further downward revisions.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments.
Shares of Staples, Inc. (NASDAQ:SPLS), inclined 3.35% to $14.21, during its last trading session.
Staples and Office Depot declared Friday afternoon that they have reached “substantial compliance” with the Federal Trade Commission’s second request for information regarding the companies’ $6.3 billion deal, according to Bizjournals.com.
The FTC made the request for additional documents and information in March, but details about what it asked for were not revealed. The anti-trust agency must approve the acquisition before it can close. Bizjournals.com Reports
Staples also declared that it has agreed not to close its deal to buy Boca Raton-based Office Depot until at least 45 days from today, when the companies fully complied with the FTC’s second request for information. Bizjournals.com added.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
Finally, NVIDIA Corporation (NASDAQ:NVDA), ended its last trade with -1.10% loss, and closed at $22.48.
NVIDIA Corporation launched NVIDIA® GRID™ 2.0 with broad industry support for its ability to deliver even the most graphics-intensive applications to any connected device virtually.
Nearly a dozen Fortune 500 companies are concluding trials of the NVIDIA GRID 2.0 beta. Major server vendors, counting Cisco, Dell, HP and Lenovo, have qualified the GRID solution to run on 125 server models, counting new blade servers. NVIDIA has worked closely with Citrix and VMware to bring a rich graphics experience to end-users on the industry’s leading virtualization platforms.
NVIDIA GRID 2.0 delivers unprecedented performance, efficiency and flexibility improvements for virtualized graphics in enterprise workflows. Employees can work from almost anywhere without delays in downloading files, increasing their productivity. IT departments can equip workers with instant access to powerful applications, improving resource allocation. And data can be stored more securely by residing in a central server rather than individual systems.
NVIDIA Corporation operates as a visual computing company in the United States, Taiwan, China, the rest of Asia Pacific, Europe, and other Americas. The company operates through two segments, GPU and Tegra Processors.
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