On Monday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), lost -7.13% to $8.20.
State-controlled oil producer Petróleo Brasileiro SA could sell a stake in Brazil’s Braskem SA and build provisions against tax debts nearing 40 billion reais ($12.7 billion) to reduce costs and make finances sustainable, Valor Econômico newspaper said on Monday, according to Reuters.
The company, known as Petrobras, could dispose of the 36.1 percent it owns in Braskem if bidders show up, Valor said, without saying how it obtained the information. By exiting Braskem, Petrobras could resolve the problem of selling naphtha to a client in which the company has a noteworthy financial interest, the newspaper added. Reuters Reports.
According to Valor, other divestitures could comprise selling exploration units in Africa, which are owned jointly with Grupo BTG Pactual SA’s merchant banking unit, and refining and distribution businesses in Argentina. Reuters added.
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 Western Union Company (NYSE:WU), declined -0.21% to $18.95, during its last trading session.
The Western Union Company, in partnership with the MTN Group, a multinational mobile telecommunications company servicing 229,2 million customers in 22 countries, recently declared the launch of a new mobile money transfer service in Rwanda and Ivory Coast. The new service allows MTN customers in both countries to receive a Western Union Money Transfer® transaction in their mobile wallet.
Senders may choose to send from a participating Western Union® agent location or a Western Union digital1 channel; the receiver may then pick up the transfer into his or her mobile wallet. The money can be used to pay bills, conduct a person-to-person money transfer, buy airtime, in addition to other MTN Mobile Money services accessible.
This new offering enhances the breadth of Western Union’s payout options in country. In addition to the new mobile money transfer service with MTN, Rwandan and Ivory Coast consumers can receive funds at more than 400 Western Union locations in Rwanda and 1,350 Western Union locations in Ivory Coast. With the combined digital and retail Western Union offerings, Rwanda and Ivory Coast customers now have the ability to send and receive money from family and friends based on their current needs.
The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions.
Finally, Apollo Education Group, Inc. (NASDAQ:APOL), ended its last trade with 0.85% gain, and closed at $13.04.
Apollo Education Group’s stock price target was lowered by analysts at Deutsche Bank Markets Research to $20 from $22 with a “hold” rating.
This action comes after the company stated weak third quarter 2015 earnings yesterday. Apollo stated revenue of $681.5 million, or 44 cents diluted earnings per share, or 53 cents per share not taking into account special items. In the previous year, the company stated revenue of $793.6 million in the same quarter.
For the latest quarter, stated income was $48.1 million, or 44 cents per share, contrast to $68.1 million, or 61 cents per share in the same quarter the previous year.
Apollo missed analysts’ estimates who predictable the company to report earnings of 47 cents per share on revenue of $698.7 million, according to analysts polled by Thomson Reuters.
Apollo Education Group, Inc. provides private education services. It offers online and on-campus undergraduate, graduate, professional development, and other non-degree educational programs and services primarily to working learners in the United States and internationally.
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