On Tuesday, Vale SA (ADR) (NYSE:VALE)’s shares declined -3.88% to $4.84.
The world’s top iron-ore miner is betting that cost cuts and growing market share will be enough to endure low prices, shunning the path of equity sales and halted dividends taken by rival Glencore Plc. Bloomberg Reports
Vale SA, the Brazilian mining giant which is also the largest nickel producer, is focused on reducing expenses further as the start of its lowest cost producing project approaches, Chief Executive Officer Murilo Ferreira told reporters in Belo Horizonte, Brazil, during an industry gathering.
Glencore last week declared a plan to sell as much as $2.5 billion worth of new stock, cut spending and halt dividends in a bid to reduce $30 billion of debt by a third. Glencore’s billionaire Chief Executive Officer Ivan Glasenberg responded to some investors’ worries that a debt-laden balance sheet can’t withstand the rout in commodity prices. The Swiss commodities trader and miner said in a statement Tuesday that is selling as many as 1.3 billion new shares as part of the plan according to the Bloomberg.
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. This segment is also involved in the production and extraction of manganese, ferroalloys, and others ferrous products and services; and extraction of coal, in addition to in the provision of railroad, port, and terminal logistics services.
Twitter Inc (NYSE:TWTR)’s shares gained 0.99% to $27.17.
Twitter Inc’s plans to let users buy goods and make political donations through tweets offer a path to reach new customers and build profit at a time the company has struggled to enhance its audience. Reuters Reports
On Tuesday, Twitter declared it has partnered with mobile payment company Square Inc to accept online donations for U.S. political campaigns. A day earlier, it tied up with payment processor Stripe Inc to let shoppers buy products directly with a tweet.
Both moves, aimed at increasing customer engagement, come as the social messaging service struggles to expand its audience base and as it looks for a new chief executive. Acting CEO Jack Dorsey is also the chief of Square.
Twitter does not take a cut of tweeted political donations, but candidates can pay to promote the tweet, a company spokesman said. He declined to say what Twitter gets from retailers and manufacturers for purchases made via its platform, but analysts said terms were likely to be better than for other products according to the Reuters.
Twitter, Inc. operates as a global platform for public self-expression and conversation in real time. It offers various products and services for users, counting Twitter that allows users to create, distribute, and discover content; and Vine and video, a mobile application that enables users to create and distribute short looping videos.
At the end of Tuesday’s trade, The Western Union Company (NYSE:WU)‘s shares surged 2.98% to $18.66.
The Western Union Foundation declared that it has raised funds to contribute to Nepal’s rehabilitation programs. During the Western Union 2015 SEAO (Southeast Asia & Oceania) Agent Roundtable held recently in Bangkok, Western Union regional executives and top Western Union Agent representatives from SEAO talk about various initiatives to grow the company for better. In addition, the meeting gave the participants an opportunity to share in the rehabilitation of Nepal through an auction. Agents of Thailand collaborated with Mandarin Oriental Hotel in Bangkok, the venue of the Agent meeting, donating premium items that were auctioned to the participants of the two day conference.
Through the auction where Western Union employees and Agent representatives generously take partd, the Western Union Foundation was able to award a grant of US$18,276 to Mercy Corps. The Mercy Corps response team is presently prioritizing efforts to provide shelter, food and water.
The Western Union Foundation provides a dollar-for-dollar match of qualifying contributions from Western Union Agents, business customers and other business partners; and 2:1 employee donations to NGOs providing disaster relief.
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. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations.
CollabRx Inc (NASDAQ:CLRX), ended its Tuesday’s trading session with 6.80% gain, and closed at $0.705.
Continental Resources, Inc. (CLR) declared plans to spend about $300 to $350 million less than its formerly approved capital budget for 2015 to better align spending with cash flow at current commodity prices. The Company plans to defer well completion activity, except for where it has contractual considerations or it accomplishes specific planned objectives. Continental is also reducing its operated rig count in the Bakken from 10 to eight rigs by the end of the month.
The Company’s 2015 guidance remains unchanged. Continental continues to expect production growth of 19% to 23% for the year, contrast with 2014, but now anticipates to exit the year with production in a range of about 200,000 to 215,000 barrels of oil equivalent (Boe) per day. The bottom end of the range is 10,000 Boe per day below its formerly stated outlook, reflecting an enhance of inventory from the formerly predictable 100 gross operated wells that are drilled but not yet accomplished at year-end 2015 to the current estimate of 160 gross wells drilled but not yet accomplished at year-end 2015. Maintenance capital to maintain 2016 production at the 2015 exit rate is now projected to be $1.6 to $2.0 billion.
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil production to end users, in addition to midstream marketing companies or crude oil refining companies at the lease. As of December 31, 2014, its estimated proved reserves were 1,351 million barrels of crude oil equivalent (MMBoe), with estimated proved developed reserves of 502 MMBoe. Continental Resources, Inc. was founded in 1967 and is headquartered in Oklahoma City, Oklahoma.
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