On Friday, Following Stocks were among the “Top 100 Losers” of U.S. Stock Market: North American Palladium Ltd. (NYSEMKT:PAL), Baytex Energy Corp. (NYSE:BTE), Windstream Holdings, Inc. (NASDAQ:WIN), Telefonica Brasil, S.A. (NYSE:VIV)
North American Palladium Ltd. (NYSEMKT:PAL), with shares declined -5.29%, closed at $0.227.
Baytex Energy Corp. (NYSE:BTE), with shares dropped -2.20%, settled at $15.63.
Windstream Holdings, Inc. (NASDAQ:WIN), with shares dipped -1.98%, and closed at $7.44, hitting new 52-week low of $7.35.
Telefonica Brasil, S.A. (NYSE:VIV), plummeted -2.59%, and closed at $14.69, hitting new 52-week low of $14.59.
Latest NEWS regarding these Stocks are depicted underneath:
North American Palladium Ltd. (NYSEMKT:PAL)
North American Palladium Ltd. (PAL), declared that it has filed the NI 43-101 Technical Report for Lac des Iles Mine, Ontario Incorporating a Preliminary Economic Assessment of the Mine Expansion Plan on SEDAR.
Summary results of the 2015 PEA were discussed in a news release dated February 26, 2015. The PEA supports the new base case which extends the mine life from 2019 to 2029 and comprises current operations with the addition of an open pit expansion. The PEA also comprises the potential Phase 2 shaft deepening project where preliminary positive results indicate that further exploration and technical investigation is justified.
Current Mine Plan:
- Production tonnes changed from 23.0 Mt to 22.3 Mt.
- Average palladium grade changed from 2.11 g/t to 2.06 g/t.
- After-tax NPV changed from $457M to $435M at a 5% discount rate.
- Open Pit Expansion (Measured and Indicated; no Inferred Resources).
Open Pit Expansion:
- Production tonnes changed from 39.0 Mt to 38.5 Mt.
- Average palladium grade changed from 1.28 g/t to 1.27 g/t.
- After-tax NPV changed from $136M to $138M at a 5% discount rate.
- After-tax IRR changed from 30% to 31%.
North American Palladium Ltd. produces precious metals in Canada. It explores for palladium, platinum, nickel, copper, and other metals. It primarily holds interest in the Lac des Iles mine located to the northwest of Thunder Bay, Ontario. The corporation was founded in 1968 and is headquartered in Toronto, Canada.
Baytex Energy Corp. (NYSE:BTE)
Formerly on March 12, Baytex Energy Corp. (BTE), declared that it has reached a contract with its syndicate of underwriters co-led by Scotiabank and RBC Capital Markets, following which the $500 million “bought deal” offering of ordinary shares declared on March 11, has been raised to 31,700,000 Ordinary Shares at a price of $17.35 per share, for gross proceeds of $550 million. The net proceeds will be used to reduce bank indebtedness, raise working capital and fund ongoing capital expenditures. The Revised Offering is subject to customary closing conditions, counting receipt of applicable regulatory and stock exchange approvals, and is predictable to close on or about April 2, 2015.
Baytex has also granted the Underwriters an over-allotment option to purchase up to an additional 4,755,000 Ordinary Shares at the Offering Price, exercisable in whole or in part, at any time and from time to time, for a period of 30 days following closing of the Revised Offering, to cover over-allotments, if any, and for market stabilization purposes. The maximum gross proceeds that will be raised under the Revised Offering will be $632.5 million should the over-allotment option be exercised in full.
Baytex Energy Corp., an oil and gas corporation, engages in the attainment, development, exploitation, and production of oil and natural gas in the Western Canadian Sedimentary Basin and the United States. The corporation offers heavy oil, light oil, condensate, and natural gas liquids.
Windstream Holdings, Inc. (NASDAQ:WIN)
Windstream Holdings, Inc. (WIN), declared the corporation’s board of directors has given final approval, subject to certain terms and conditions, for the tax-free spinoff of select telecommunications network assets into Communications Sales & Leasing, Inc. (CS&L), which will become an independent publicly traded real estate investment trust (REIT). In addition, the corporation’s board of directors declared a prorated cash dividend subject to the closing of the spinoff.
Windstream anticipates to distribute about 80.1 percent of CS&L shares on April 24, 2015, to Windstream shareholders of record as of 5 p.m. EDT on April 10, 2015. The distribution is conditioned upon satisfaction of certain customary closing conditions, counting financing of the transaction. Windstream intends to use the about 19.9 percent retained CS&L shares opportunistically, subject to market conditions, during a 12-month period following the spinoff to reduce debt.
In addition, conditioned on the closing of the spinoff, Windstream will make a cash distribution equivalent to a prorated $.25 quarterly dividend to Windstream shareholders of record as of 5 p.m. EDT on April 10, 2015. Assuming the spinoff closes on April 24, 2015, the cash dividend would be $.0659, and the corporation would expect to make the payment on April 24, 2015.
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets.
Telefonica Brasil, S.A. (NYSE:VIV)
Telefonica Brasil, S.A. (VIV), declared the launch of an offering of 219,950,615 preferred shares (or up to 7,746,660 preferred shares if the international and Brazilian underwriters’ options to purchase additional shares are exercised in full) as part of a global offering, which comprises of an international offering in the United States and other countries outside Brazil and a concurrent offering of ordinary shares and preferred shares in Brazil. Preferred shares offered in the global offering may be offered directly or in the form of American Depositary Shares, each of which represents one preferred share of Telefonica Brasil.
Telefonica Brasil intends to use the net proceeds from the global offering to (1) fund the cash portion of the GVT attainment, which is predictable to close by mid-2015, (2) repay GVT’s loans with a related party, and (3) adjust its capital structure in order to maintain liquidity.
Itau BBA, Morgan Stanley, BofA Merrill Lynch and Santander are acting as global coordinators and Bradesco BBI, BTG Pactual, Credit Suisse, Goldman, Sachs & Co., HSBC and J.P. Morgan are acting as joint bookrunners in connection with the international offering.
Telefônica Brasil S.A. provides fixed-line telecommunications services to residential and corporate customers in Brazil. The corporation offers voice services, counting activation, monthly subscription, public telephones, and measured services; intraregional, interregional, and international long-distance voice services; data services comprising broadband services; mobile value added services; and Pay TV services through direct to home satellite technology, IPTV, and cable.
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