On Wednesday, Shares of JD.com, Inc. (NASDAQ:JD), surged 8.05% to $26.99, as some U.S. traded China-based stocks rally thanks to the rise in the Chinese stock market.
The Shanghai Composite Index closed higher by 4.9% on Wednesday, the index made a surprise rally in the finale hour of trade, ending a two-day 6.1% loss, Bloomberg reports.
“I suspect state support may be behind the sharp rally in the final hour,” IG Asia Pte strategist Bernard Aw told Bloomberg.
The Shanghai index has fallen by 39% since reaching a high in June as leveraged investors took flight on concerns valuations weren’t justified given the country’s worsening economy, Bloomberg added.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
Shares of Starbucks Corporation (NASDAQ:SBUX), inclined 0.62% to $57.26, during its last trading session, after Moody’s lifted its senior unsecured ratings to A2 from A3, and said its rating outlook is “stable.”
In addition, the credit rating agency also upgraded the company’s short term commercial paper rating to Prime-1 from Prime-2.
“The upgrade reflects Moody’s view that Starbucks measured growth strategy, product pipeline, digital initiatives and balanced financial policy will continue to drive operating earnings, credit metrics, liquidity and scale,” the agency stated.
Moody’s added that other positives comprise Starbucks’ compriseent operating trends and its loyalty program.
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development.
Shares of Williams Companies, Inc. (NYSE:WMB), inclined 5.26% to $45.86, during its last trading session.
Dallas-based Energy Transfer Equity LP (NYSE: ETE) reportedly is close to winning its takeover battle for its Oklahoma-based rival pipeline operator, Williams Cos. (NYSE: WMB), according to bizjournals.com.
Bloomberg stated Wednesday that the companies are in advanced talks about a deal that could be made public in the next week and a half.
Such a deal would create the world’s largest operator of infrastructure for the movement and processing of oil and natural gas, and it would end a takeover fight that began in June when Williams eschewed an unsolicited bid from ETE. Williams then hired banks to evaluate a possible sale.
Energy Transfer Equity confirmed in July that it reached a confidentiality agreement with Williams to pursue the Oklahoma pipeline company’s planned alternatives process. bizjournals.com Reports
The Williams Companies, Inc. operates as an energy infrastructure company primarily in the United States. The company operates in three segments: Williams Partners, Access Midstream, and Williams NGL & Petchem Services. It owns and operates natural gas pipeline system extending from Texas, Louisiana, Mississippi, and the offshore Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, and New Jersey to the New York City metropolitan area.
Finally, New Gold, Inc. (NYSEMKT:NGD), ended its last trade with 8.53% surge, and closed at $2.29.
New Gold provides an update on development progress at the company’s Rainy River project, where New Gold is hosting an analyst and investor tour tomorrow, and declares the planned retirement of Robert Gallagher , the company’s President and Chief Executive Officer, in June of 2016.
Rainy River Development Update
New Gold is happy to provide an update on the development activities at its Rainy River project in northwestern Ontario , where the company is hosting an analyst and investor tour on September 15, 2015.
RAINY RIVER DEVELOPMENT HIGHLIGHTS – THROUGH THE END OF AUGUST 2015
- Detailed engineering accomplished
- Temporary accommodation facility accomplished
- Relocation of Highway 600 – over 40% complete
- Plant Site earthworks – over 40% complete
- Concrete placement – over 10% complete
- Targeting erection of structural steel in early October
- Assembly of initial mine fleet commenced – commissioned one 218-tonne truck, one dozer, two blasthole drills and commissioning of one hydraulic shovel 50% complete
- No Lost Time Incidents since the company attained the project in 2013
- Key members of operational team hired and on site counting: General Manager, Mine Manager, Mill Manager, Maintenance Manager, Materials Manager, Environment Manager and Health and Safety Manager
- 98 employees hired and on site to support development and operational readiness
- Recruitment for operations phase ongoing – over 1,700 applications received counting noteworthy First Nations and other local interest in employment
- Total project spending through August 31, 2015 – $144 million
- Total capital committed (inclusive of $144 million of spending) through August 31, 2015 – $480 million ; represents 55% of total development capital estimate
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits.
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