On Tuesday, Shares of Peabody Energy Corporation (NYSE:BTU), gained 7.19% to $3.28.
Peabody Energy Corporation, had its price target lowered to $4 from $6 by analysts at Barclays who maintained their ‘equal weight’ rating.
This action comes as the coal company reduced met coal production at North Goonyella Mine in Central Queensland, Australia, by a rate of 1.5mm tons per year and has taken a cut across its corporate cost structure, analysts said.
Recently, the company declared plans to cut 250 corporate and regional employees and close two offices, according to The Associated Press. The layoffs are necessary to lower costs, CEO Glenn Kellow stated.
While cost cuts and production cuts assist, weak demand and low profitability remain widespread, as Chinese trade data released Monday reiterated one part of the challenge for coal. In May, China’s coal imports fell 40.7% y/y and 25.6% m/m, according to the analyst note.
During Tuesday’s trade, 17,288,800 shares exchanged hands as compared to its average daily volume of 13,479,400. The company holds the market capitalization of $911.15M.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments.
Shares of McDonald’s Corp. (NYSE:MCD), declined -0.62% to $94.73, during its last trading session.
McDonald’s Corporation, declared the appointments of Robert Gibbs as Executive Vice President, Global Chief Communications Officer and Silvia Lagnado as Executive Vice President, Global Chief Marketing Officer. Both will report to McDonald’s President and CEO Steve Easterbrook.
“Robert and Silvia are both highly-respected, talented leaders who will bring a wealth of experience and outside perspective to McDonald’s as we build a more modern, progressive burger company,” said Easterbrook. “Returning excitement to our business proposition and brand is foundational to our turnaround plan, and Robert and Silvia — with their respective teams — will play critical roles in bringing this strategy to life.”
In his new role, Gibbs will lead McDonald’s corporate relations group, which manages internal and external communications and government and public affairs. He will lead McDonald’s in communicating clear, coordinated messages to internal and external constituencies, enhancing the brand and supporting corporate strategies.
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States, Europe, the Asia/Pacific, the Middle East, Africa, Canada, and Latin America. The company’s restaurants offer various food products, soft drinks, coffee, and other beverages.
Finally, Diebold, Incorporated (NYSE:DBD), ended its last trade with 7.38% surge, and closed at $37.83.
Al Rajhi Bank, one of the largest Islamic banks in the world, has selected Diebold’s technology to migrate transactions from the traditional teller line to the self-service channel and transform the in-branch banking experience for its customers. In Saudi Arabia, the vast majority of transactions are performed with cash. About 70 percent of all banking transactions are performed inside the bank branch, which leads to long teller queues. The addition of 300 deposit automation-enabled automated teller machines (ATMs) across its entire network will allow Al Rajhi Bank to reduce transaction operating expenses by up to 55 percent and drive greater customer satisfaction.
“Diebold’s branch transformation expertise and technology have allowed us to decrease wait times in our retail branches which typically have long queues to perform routine transactions with a teller,” said Mohammed Al Garni, head of direct banking department, Al Rajhi Bank. “As our customers start to perform more transactions on their own, our staff will have more time to assist with more complex needs and build deeper relationships.”
In addition to the new technology, Al Rajhi is also renovating its branches to enhance the overall look and feel and to make the ATMs more appealing to its customers, who have traditionally used the teller line to perform most transactions. In the future, Al Rajhi plans to implement even more advanced technology such as customized kiosks that will enable its customers, through biometric access, to perform transactions such as opening new accounts, printing and encoding new cards, checkbook and statement printing.
Diebold, Incorporated provides financial self-service delivery, integrated services and software, and security systems primarily to the financial, commercial, retail, and other markets. The company operates in five segments: North America; Asia Pacific; Europe, Middle East and Africa; Latin America; and Brazil.
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