On Friday, Shares of SeaDrill Limited (NYSE:SDRL), lost -4.45% to $13.32.
Oil prices slid Friday as the dollar strengthened and traders waited for closely watched U.S. oil drilling data.
Light, sweet crude for July delivery fell $1.30, or 2.1%, to $59.42 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell $1.41, or 2.1%, to $65.13 a barrel on ICE Futures Europe.
The dollar rose Friday after the Labor Department said that U.S. consumer prices rose for the third straight month in April. A strong dollar makes oil, which is priced in dollars, more expensive to foreign buyers.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments. The Floaters segment provides drilling, completion, and maintenance services for offshore exploration and production wells. Its drilling contracts regarding semi-submersible rigs and drillships for harsh and benign environments in mid, deep, and ultra-deep waters.
Shares of Cliffs Natural Resources Inc. (NYSE:CLF), inclined 2.78% to $5.17, during its last trading session.
On April 28, Cliffs Natural Resources declared that it has accomplished the sale of its Chromite assets in Northern Ontario, Canada to Noront Resources Ltd. The assets were sold under a revised purchased agreement for US$27.5 million in cash, which is an enhance of U.S. $7.5 million over the formerly declared sale price of US$20 million.
The assets are comprised of three chromite deposits and associated claims held by Cliffs auxiliaries. The transaction closed recently following the approval of the sale by the court under the Companies’ Creditors Arrangement Act (“CCAA”) proceedings in Canada.
The Company stated that this transaction is another step in divesting interests in non-core assets and that the proceeds of the sale will be used substantially to cover costs and expenses associated with the CCAA proceeding.
Moelis & Company acted as financial advisor to Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
Finally, Bristol-Myers Squibb Company (NYSE:BMY), ended its last trade with -0.86% loss, and closed at $68.30.
Bristol-Myers Squibb Company, declared that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending that nivolumab, a PD-1 immune checkpoint inhibitor, be granted approval for the treatment of locally advanced or metastatic squamous non-small cell lung cancer (NSCLC) after preceding chemotherapy in adults. The CHMP positive opinion will now be reviewed by the European Commission, which has the authority to approve medicines for the European Union (EU).
“We are moving at a ground-breaking pace to deliver on a mission that looks to transform cancer treatment options for patients,” said Michael Giordano, senior vice president, Head of Development, Oncology. “Last month, we received a CHMP positive opinion for nivolumab for the treatment of advanced melanoma. Recent declaration of a positive opinion for nivolumab in NSCLC brings us closer to delivering on our promise of changing the standard of care for lung cancer.”
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
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