On Tuesday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), gained 4.40% to $9.50, as U.S. oil prices climbed Tuesday on strong demand for crude and the threat of a tropical storm along the Gulf Coast.
Light, sweet crude for July delivery, the U.S. benchmark, gained 45 cents, or 0.8%, to $59.97 a barrel on the New York Mercantile Exchange. The gains snapped a three-session losing streak, WSJ 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 Goldcorp Inc. (NYSE:GG), declined -1.56% to $16.40, during its last trading session, hitting its lowest level.
Goldcorp, and Tahoe Resources Inc. declared that they have reached a contract with GMP Securities L.P. and BMO Capital Markets acting as joint bookrunners on behalf of a syndicate of underwriters for a secondary offering by Goldcorp, on a bought deal basis, of 58,051,692 common shares of Tahoe at a price of C$17.20 per Common Share for gross proceeds of C$998,489,102. The Offering represents the sale of all of Goldcorp’s interest in Tahoe. Tahoe will not receive any of the proceeds from the Offering.
“Divesting non-core assets has been instrumental to Goldcorp’s growth and compriseently sound financial position, and the sale of the Tahoe position supports that strategy,” said Chuck Jeannes, Goldcorp President and CEO. “With our gold production to date tracking well toward 2015 guidance, Goldcorp is positioned for growing free cash flow and financial flexibility.”
The Offering is planned to close on or about June 30, 2015 and is subject to certain customary closing conditions counting, but not limited to, the receipt of all necessary approvals.
Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, silver, copper, lead, and zinc deposits.
Finally, United Continental Holdings, Inc. (NYSE:UAL), ended its last trade with -1.95% loss, and closed at $51.23.
United Airlines, the U.S. airline industry’s transcontinental leader, will bring the airline’s “p.s.” Premium Service to its New York hub at Newark Liberty International Airport in October. Startning October 25, all regularly planned Newark-Los Angeles and Newark-San Francisco flights will offer:
- flat-bed seats in the United BusinessFirst cabin;
- premium in-flight service;
- more extra-legroom Economy Plus seats than any other carrier; and
- modern interiors with in-flight Wi-Fi and personal on-demand entertainment with individual seatback monitors and power ports for customers in every row.
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
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