On Friday, Shares of Vale S.A. (NYSE:VALE), lost -4.05% to $4.98, ongoing its slide after Standard & Poor’s Financial Services cut Brazil’s sovereign rating to junk on Wednesday.
The S&P downgraded Brazil’s credit rating to BB-plus, the highest junk rating, as the country faces its longest recession since the 1930s, Reuters stated.
The downgrade exacerbated fears of forced selling, and JP Morgan forecast last month that the country’s full downgrade would result in about $6.2 billion in forced selling among investors holding $32.2 billion of hard-currency sovereign bonds, according to Reuters.
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.
Shares of AbbVie Inc. (NYSE:ABBV), declined -0.39% to $59.35, during its last trading session.
The board of directors of AbbVie declared a quarterly cash dividend of $0.51 per share.
The cash dividend is payable Nov. 14, 2015 to stockholders of record at the close of business on Oct. 15, 2015.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
Finally, Altria Group Inc. (NYSE:MO), ended its last trade with -0.22% loss, and closed at $52.59.
Altria Group reaffirms its guidance for 2015 full-year adjusted diluted earnings per share (EPS), which excludes the special items talked about in Plan 1, to be in the range of $2.76 to $2.81, representing a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of $2.57 in 2014, as shown in Plan 1.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
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