On Tuesday, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)’s shares declined -2.16% to $4.54.
Oil production in Brazil may be interrupted if Petroleo Brasileiro SA workers decide to strike for an extended period, said Deyvid Bacelar, the company’s board member representing workers. Bloomberg Reports
Workers may decide whether to go on strike as soon as Friday, Bacelar, who is also an oil union coordinator in the state of Bahia, said in an interview Tuesday. Petrobras is offering administrative staff a 25-percent pay cut to reduce hours to 30 per week, an offer the union considers unacceptable.
A strike would be the latest in a series of setbacks for the Brazilian producer, which had its debt downgraded to non-investment grade last week as it tries to deal with a collapse in commodity prices and a widening graft scandal, according to the Bloomberg.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
American Eagle Outfitters (NYSE:AEO)’s shares dropped -2.62% to $15.25.
American Eagle Outfitters, Inc. (AEO) declared a quarterly cash dividend of $0.125 per share, marking the company’s 45th successive quarterly dividend. The $0.125 dividend was declared on September 11, 2015 and is payable on October 21, 2015 to stockholders of record at the close of business on October 7, 2015.
American Eagle Outfitters, Inc. operates as a retailer of apparel and accessories in the United States and internationally. The company’s stores offers denims, pants, shorts, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25 year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for women the aerie brand name.
At the end of Tuesday’s trade, Spectra Energy Corp. (NYSE:SE)‘s shares surged 2.47% to $27.80.
Spectra Energy Corporation SE has withdrawn itself from the auction for the acquisition of rival pipeline company Williams Companies Inc. WMB. Per sources, this has raised the chances of Energy Transfer Equity LP ETE finally purchasing the company.
In June, Williams put itself up for auction after rejecting an acquisition proposal from Energy Transfer Equity. The offer was valued at $53.1 billion, which comprised of assumption of the Williams’ debt at the time. The projected deal, however, was dependent upon Williams’ plans to call off the acquisition of the portion of its pipeline partner Williams Partners LP WPZ that was not already owned by it for $14 billion.
The proposal was rejected by Williams it undervalued the company. No details have been revealed so far by the representatives for Williams, Spectra and Energy Transfer Equity.
Williams’ board met last weekend to evaluate all options counting buyout offers received in August. Per sources, Williams is still indecisive about remaining independent or selling itself to Energy Transfer Equity according to the Zacks.
Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.
GlaxoSmithKline plc (ADR) (NYSE:GSK), ended its Tuesday’s trading session with 0.70% gain, and closed at $40.06.
GlaxoSmithKline plc (LSE: GSK) (NYSE: GSK) and Theravance, Inc. (NASDAQ: THRX) declared initial results from the Study to Understand Mortality and MorbidITy in COPD (SUMMIT) for Relvar®/Breo® Ellipta® 100/25mcg (fluticasone furoate ‘FF’/vilanterol ‘VI’ or ‘FF/VI’). The study involved 16,485 patients from 43 countries who had chronic obstructive pulmonary disease (COPD) with moderate airflow limitation (FEV1 50-70% predicted) and either a history or raised risk of cardiovascular disease (CVD).
For the primary endpoint of the study, the risk of dying on FF/VI 100/25mcg was 12.2% lower than on placebo over the study period, which was not statistically noteworthy (p=0.137).
For the first of two secondary endpoints, FF/VI 100/25mcg reduced the rate of lung function decline (as measured by forced expiratory volume in one second, ‘FEV1’) by 8mL per year contrast with placebo (p=0.019). As the primary endpoint was not met, statistical significance cannot be inferred from this result. For the other secondary endpoint, the risk of experiencing an on-treatment cardiovascular (CV) event (CV death, myocardial infarction, stroke, unstable angina and transient ischemic attack [TIA]) at any time was 7.4% lower in patients taking FF/VI 100/25mcg as compared to placebo which was not statistically noteworthy(p=0.475).
GlaxoSmithKline plc creates, discovers, develops, manufactures, and markets pharmaceutical products, counting vaccines, over-the-counter medicines, and health-related consumer products worldwide.
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