On Friday, Shares of Peabody Energy Corporation (NYSE:BTU), gained 6.91% to $2.63, after the coal miner declared that it is selling most of its Queensland, Australia coal exploration portfolio. Details of the sale have not been offered, but the move comes as the company is embroiled in the midst of dwindling coal prices.
Peabody Energy has seen an its market capitalization fall to $685 million, a 70% decline.
The sale, for an unrevealed amount, may be part of the company’s wider strategy of eventually exiting Australia, according to the Australia financial website AFR Weekend.
Falling coal prices are responsible for cutbacks by the company. Last month falling coal prices led the company to declare that it was cutting 210 jobs and cut production at its coal mine in north Queensland.
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. It is involved in mining and sale of thermal coal to electric utilities and metallurgical coal for industrial customers.
Shares of Lowe’s Companies Inc. (NYSE:LOW), declined -0.23% to $69.99, during its last trading session.
Lowe’s Companies, declared that Robert F. Hull, Jr., chief financial officer, and Michael P. McDermott, chief merchandising officer, will present at the Oppenheimer 15th Annual Consumer Conference in Boston, MA. Presentation by Bob Hull and Mike McDermott at the Oppenheimer 15th Annual Consumer Conference in Boston, MA, at 9:45 a.m. Eastern Time on Wednesday, June 24, 2015.
Lowe’s Companies, Inc. operates as a home improvement retailer. The company offers products for maintenance, repair, remodeling, and home decorating. It provides home improvement products under the categories of kitchens and appliances; lumber and building materials.
Finally, Baxter International Inc. (NYSE:BAX), ended its last trade with 0.23% gain, and closed at $69.41.
Baxter International, declared that it has commenced two cash tender offers for specified series of its outstanding debt.
Baxter is offering to purchase the maximum aggregate principal amount of notes in the Maximum Tender Offer that it can purchase (counting accrued interest) for up to the positive difference (if any) between $3.0 billion and the total consideration that is paid (counting accrued and unpaid interest) for the notes purchased through the Any and All Tender Offer. The acceptance of any tendered notes subject to the Maximum Tender Offer may be subject to proration, as described in the Offer to Purchase. Baxter reserves the right in its sole discretion to enhance the Maximum Tender Offer cap.
Baxter presently intends to redeem such amount of notes subject to the Maximum Tender Offer and/or 5.900% Notes due September 2016 (the ”2016 Notes”) so that the sum of (i) the aggregate redemption price of notes subject to the Maximum Tender Offer or 2016 Notes redeemed in the redemption (counting accrued and unpaid interest) and (ii) the aggregate amount paid to acquire all notes accepted for purchase following both Tender Offers (counting accrued interest) equals about $3.0 billion in the aggregate. However, Baxter is not obligated to undertake any such redemption, and there can be no assurance that Baxter will redeem any notes subject to the Maximum Tender Offer or 2016 Notes that remain outstanding after consummation of the Tender Offers or of the timing of, or amount of any notes subject to the Maximum Tender Offer and/or 2016 Notes subject to, any such redemption.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. The company’s BioScience segment processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions; and biosurgery products.
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