On Monday, Shares of Vale S.A. (NYSE:VALE), gained 6.82% to $5.64.
Vale stated its 2Q15 results on July 30, 2015. Overall results were a beat on market expectations. The company stated an adjusted EPS (earnings per share) of $0.19, which was 55% above consensus. Vale’s 2Q15 adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 38% quarter-over-quarter.
The results were a beat on expectations for cost improvements, but investors seem concerned about the increasing leverage and funding gap on its S11D project. In addition, weaker iron ore prices in general pulled iron ore miners’ stock prices down.
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment produces and extracts iron ore and pellet.
Shares of Texas Instruments Inc. (NASDAQ:TXN), inclined 3.50% to $52.08, during its last trading session.
Macquarie upgraded Texas Instruments from Neutral to Outperform. The target price for Texas Instruments has been raised from $55 to $60, according to Benzinga.
In a report published Monday, Macquarie analyst Deepon Nag commented on the U.S. semiconductor space, noting that “estimates haven’t bottomed, but stocks may have.”
According to Nag, semiconductor stocks have underperformed as of late to due to softening end demand, inventory destocking and reduced flow of M&A activity which have all “pressured” forward estimates and stock multiples. Benzinga Reports
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates through two segments, Analog and Embedded Processing.
Finally, Fifth Third Bancorp (NASDAQ:FITB), ended its last trade with 2.70% gain, and closed at $21.71.
Fifth Third Bancorp declared winners of the 2015 Fifth Third Scholarship Program. Since 2005, the Fifth Third Foundation has annually awarded one-time $2,500 scholarships to children of Fifth Third employees. It has awarded 200 scholarships since its inception.
Chosen and administered by the National Merit Scholarship Corporation, the Fifth Third Scholarship Program recognizes the academic achievements of the following students listed with their employee parent and parent’s work location:
- Matthew A. Thompson, national merit scholar, son of James Thompson, Cleveland, Ohio
- Cole J. Adkins, son of Michelle Adkins, Grand Rapids, Michigan
- Noah D. Back, son of Daniel Back, Cincinnati, Ohio
- Andrew J. Bingham, son of James Bingham, Grand Rapids, Michigan
- Daniel N. Bussard, son of Dan Bussard, Cincinnati, Ohio
- Abbey M. Carruthers, daughter of Rodney Carruthers, Wilmington, Ohio
- Joshua L. Cassady, son of John Cassady, Grand Rapids, Michigan
- Julia C. Castanet, daughter of Jennifer Castanet, Atlanta, Georgia
- Lindsey M. Cron, daughter of Martha Cron, Cincinnati, Ohio
- Sabrina R. Florey, daughter of Ross Florey, Nashville, Tennessee
- Kelly F. Fuller, daughter of David Fuller, Cincinnati, Ohio
- Nicholas C. Gibbs, son of David Gibbs, Cincinnati, Ohio
- Austin M. Haney, son of Kimberly Haney, Cincinnati, Ohio
- Austin M. Keller, son of Mary Keller, Chicago, Illinois
- Abigail N. Kiley, daughter of Michael Kiley, Cincinnati, Ohio
- Patrick C. Kilgallon, son of James Kilgallon, Chicago, Illinois
- Kennedy J. Moore, daughter of Jamey Moore, Evansville, Indiana
- Eleanor A. Myer, daughter of Thomas Myer, Cincinnati, Ohio
- Ragavi Ramesh, daughter of Ramesh Ramakrishnan, Cincinnati, Ohio
- Jack R. Ritter, son of Tom and Molly Ritter, Cincinnati, Ohio
- Kevin L. Schiff, son of Howard Schiff, Chicago, Illinois
- Koshala Selvakumar, daughter of Jeyaluxmy Selvakumar, Cincinnati, Ohio
- Anna V. Villaver, daughter of Evangeline Villaver, Cincinnati, Ohio
- Mackenzie H. Ware, daughter of Gregory Ware, Grand Rapids, Michigan
- Noah E. Worobetz, son of Dan Worobetz, Cincinnati, Ohio.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
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