On Tuesday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), gained 1.35% to $9.76, following a Reuters report suggesting the Brazil-based oil and gas company is preparing to offer debt notes in Brazil’s domestic markets, which could be sold as soon as next week.
State controlled Petrobras is looking for at least 3 billion reais ($983 million) with the transaction, a source told Reuters, adding that if additional and supplementary allotments were made the offer could bring in up to 4 billion reais.
The latest deal follows one from earlier in the month when Petrobras received a $3.5 billion loan from China Development Bank Corp., which highlighted Petrobras rising funding options in the aftermath of the corruption scandal.
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 The Dow Chemical Company (NYSE:DOW), declined -1.83% to $50.95, during its last trading session.
The Dow Chemical Company, declared a series of actions to further streamline the organization and optimize its footprint as a result of the Company’s pending separation of a noteworthy portion of its chlorine value chain.
Dow has shifted its portfolio toward targeted, integrated high-value markets, and as a result the Company is taking additional actions to further enhance its organizational effectiveness – with a focus on driving geographic market engagement coupled with global efficiency – to deliver maximum value from its growth investments.
The actions will further accelerate Dow’s value growth and productivity targets, and will result in a reduction of about 1,500 – 1,750 positions, or about 3 percent of the global workforce. In parallel, the Company is also announcing additional minor adjustments to its asset footprint to enhance competitiveness.
The Company will take charges totaling about $330 million – $380 million in the second quarter of 2015 for asset impairments, severance and other costs related to these measures, which are predictable to be accomplished during the next two years. Once fully implemented, these actions are predictable to result in about $300 million of annual operating cost savings.
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
At the end of Tuesday’s trade, Shares of Kinross Gold Corporation (NYSE:KGC), gained 0.80% to $2.53.
Kinross Gold Corporation, declared its results for the first quarter ended March 31, 2015.
2015 first quarter highlights:
- Production: 629,360 gold equivalent ounces (Au eq. oz.), contrast with 664,690 ounces in Q1 2014.
- Revenue: $781.4 million, contrast with $817.4 million in Q1 2014.
- Production cost of sales: $709 per Au eq. oz., contrast with $727 in Q1 2014.
- All-in sustaining cost: $964 per Au eq. oz. sold, contrast with $1,001 in Q1 2014. All-in sustaining cost per gold ounce (Au oz.) sold on a by-product basis was $957 in Q1 2015, contrast with $991 in Q1 2014.
- Adjusted operating cash flow: $214.8 million, or $0.19 per share, contrast with $242.2 million, or $0.21 per share, in Q1 2014.
- Adjusted net earnings: $15.3 million, or $0.01 per share, contrast with adjusted earnings of $34.1 million, or $0.03 per share, in Q1 2014.
- Stated net earnings/loss: Loss of $6.7 million, or $0.01 per share, contrast with earnings of $31.8 million, or $0.03 per share, in Q1 2014.
- Outlook: Kinross anticipates to be within its 2015 forecast guidance for production (2.4 - 2.6 million Au eq. oz.), production cost of sales ($720 - $780 per Au eq. oz.), all-in sustaining cost ($1,000 - $1,100 per Au eq. oz.) and total capital expenditures ($725 million).
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania.
Finally, Staples, Inc. (NASDAQ:SPLS), ended its last trade with -1.08% loss, and closed at $16.47.
Staples, declared a partnership with Bidvest Waltons, South Africa’s leading office products company, and Dacris, a major distributor of office supplies in Romania.
These partnerships will enable customers with global presence to further extend their global procurement programs through a single source solution and thereby simplify ordering processes, identify ways to reduce overall costs and gain better insights into their spending trends.
Staples Advantage, the business-to-business division of Staples which services larger organizations of 20 or more employees up to the Fortune 1000 assists customers make more happen with more products, greater cost savings and improved ordering efficiencies. It provides its customers with a one source solution featuring comprehensive products and services counting office supplies, technology, printing, promotional products, furniture and facility supplies, together with a customized level of account support and best-in-class customer service.
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.
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