On Wednesday, Shares of Vale S.A. (NYSE:VALE), lost -0.62% to $6.40, as the company considers selling between 25% and 30% of its base metals business in an initial public offering, according to Bloomberg.
The company has revised its base metals unit EBITDA forecast to between $3.1 billion and $4.6 billion after originally forecasting base metals EBITDA between $4 billion and $6 billion.
HSBC analysts estimate that the base metal unit will contribute about 42% to the company’s EBITDA this year and about 54% in 2016, according to Bloomberg.
HSBC initiated coverage on Vale SA (ADR) with a Hold rating. The target price for Vale is set to $7.50. Vale shares closed at $6.45 yesterday.
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 Exelon Corporation (NYSE:EXC), declined -0.06% to $32.78, during its last trading session.
Fulfilling its commitment to keep the public informed of its sustainability strategy and performance, Exelon has released its latest sustainability report. The report describes Exelon’s approach to providing reliable, clean, affordable and innovative energy products in an evolving energy landscape.
“The electric power sector is rapidly changing,” said Chris Crane, Exelon’s president and CEO. “We view this evolution as an opportunity to make our business more sustainable as we address evolving customer expectations, societal mandates and environmental considerations.”
The report presents a comprehensive record of Exelon’s economic, environmental and social sustainability performance. Examples of sustainability highlights for the year comprise:
- Exelon invested $3.1 billion in electric and gas utility infrastructure, counting $500 million in smart meters and smart grid technology.
- Exelon added 215 megawatts of emission-free wind, solar and nuclear generation.
- The Exelon utilities assisted customers save more than 7.6 million megawatt-hours of electricity through energy efficiency programs.
- Exelon achieved its best-ever safety performance by all key measures.
- Exelon formed a first-of-its-kind partnership with Bloom Energy to provide distributed fuel cell projects to customers.
- Exelon raised its companywide recycling rate to 69 percent.
- Exelon was named to the North America Dow Jones Sustainability Index for the ninth successive year.
- Employees volunteered more than 112,000 hours for the benefit of their communities.
- Exelon gave more than $31 million in corporate contributions to community nonprofits.
- Exelon spent more than $1 billion with diversity-certified suppliers.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
Finally, The Dow Chemical Company (NYSE:DOW), ended its last trade with -0.88% loss, and closed at $53.10.
A widely used Dow Chemical Co. weedkiller was added to a World Health Organization list of potential carcinogens, just three months after the agency made a controversial assessment of Monsanto Co.’s glyphosate herbicide, according to Bloomberg.
Based on limited evidence from laboratory animal studies and inadequate evidence in humans, 2,4-D is “possibly carcinogenic to humans,” the International Agency for Research on Cancer, a Lyon, France-based arm of the WHO, said Tuesday in a statement.
2,4-D has been used for 70 years to control weeds in wheat, corn and soybean fields in addition to gardens and lawns. The U.S. sprayed about 36 million pounds (16 million kilograms) of the chemical in 2012, according to government estimates. Bloomberg Reports.
The weedkiller is a key part of Dow’s agricultural business, Dow AgroSciences. Dow says its new Enlist crops, which are genetically engineered to tolerate sprays of both 2,4-D and glyphosate, will assist double earnings at the unit through the end of the decade. Bloomberg added.
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
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