During Friday’s Morning trade, Shares of Platform Specialty Products Corp (NYSE:PAH), gained 0.97% to $12.51.
Platform Specialty Products Corporation, declared that its Board of Directors has designated Rakesh Sachdev as its new Chief Executive Officer. Mr. Sachdev will join Platform effective January 5, 2016. The Board of Directors also designated Mr. Sachdev to serve as a Director on the Platform’s Board, effective January 5, 2016. In connection with Mr. Sachdev’s appointment, Daniel H. Leever, as formerly declared in October, has stepped down as both Chief Executive Officer and as a Director of the Board, effective right away.
Mr. Sachdev joins Platform with more than 28 years of administration experience at leading public companies having most recently served as President and Chief Executive Officer of Sigma-Aldrich since 2010 through its recent acquisition by Merck KGaA. His previous positions at Sigma Aldrich comprised Vice President and Chief Financial Officer in addition to Chief Administrative Officer. Earlier in his career, Mr. Sachdev held numerous senior administration positions at ArvinMeritor, Inc. and Cummins Inc. Mr. Sachdev is presently a director of Regal-Beloit Corporation, Edgewell Personal Care Company, and the Federal Reserve Bank of St. Louis. He also serves on the Board of Trustees of Washington University in St. Louis. Mr. Sachdev earned his M.B.A. from Indiana University, holds a Masters in Mechanical Engineering from the University of Illinois, and earned his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology in New Delhi.
Platform’s Chairman, Martin E. Franklin, commented, “Rakesh’s deep leadership, strategy and execution experience are precisely the strengths Platform was looking for in its next chief executive. He is the right leader at this stage of Platform’s growth. We are highly confident in Rakesh’s ability to lead Platform as it continues towards its aim of becoming a best-in-class global, diversified specialty chemicals company. I look forward to working closely with Rakesh in the coming years.”
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
Shares of Abbott Laboratories (NYSE:ABT), declined -1.70% to $44.49, during its current trading session.
Abbott will present at the 34th Annual J.P. Morgan Healthcare Conference on Monday, Jan. 11, 2016. Brian Yoor, senior vice president, finance and chief financial officer, will make a formal presentation on the company at 10:30 am Central time.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
Finally, Cliffs Natural Resources Inc (NYSE:CLF), gained 0.63%, and is now trading at $1.60.
Park Lane Advisor has initiated coverage on the following equities: Cliffs Natural Resources Inc. (CLF), Fairmount Santrol Holdings Inc. (FMSA), Foresight Energy L.P. (FELP), and Renewable Energy Group Inc. (REGI). Free research report on Cliffs Natural Resources can be accessed at http://www.parklaneadvisor.com/ On Wednesday, December 16, 2015, the NASDAQ Composite ended at 5,071.13, up 1.52%, the Dow Jones Industrial Average advanced 1.28%, to finish the day at 17,749.09, and the S&P 500 closed at 2,073.07, up 1.45%. The gains were broad based as all the sectors ended the session in positive. Register for your complimentary reports at the links given below.
Cliffs Natural Resources Inc.’s stock finished Wednesday’s session 6.83% higher at $1.72. A total of 4.80 million shares were traded, which was below its three months average volume of 4.95 million shares. Over the last one month and the previous three months, Cliffs Natural Resources Inc.’s shares have declined 36.06% and 46.25%, respectively. Additionally, the stock has plummeted 75.91% since the starting of 2015. The company’s shares are trading below their 50-day and 200-day moving averages by 34.31% and 55.96%, respectively. Cliffs Natural Resources Inc.’s stock has a Relative Strength Index (RSI) of 31.43.
On Wednesday, shares in Fairmount Santrol Holdings Inc. ended the session 0.40% lower at $2.50. The stock stated a trading volume of 0.58 million shares, below its three months average volume of 0.80 million shares. Shares of the company traded at a PE ratio of 11.90. Although, Fairmount Santrol Holdings Inc.’s shares have advanced 2.46% in the last one month, it has plummeted 39.76% in the previous three months and 63.87% on YTD basis. The company is trading 6.67% below its 50-day moving average and 56.31% below its 200-day moving average. Moreover, shares of Fairmount Santrol Holdings Inc. have an RSI of 48.43.
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.
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