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Stock Market & Financial Investment News

News Breaks
January 23, 2014
09:02 EDTPXPraxair signs long-term contract with Taewoong Steel
Praxair signed a long-term contract with Taewoong Steel to supply high-purity oxygen to the company’s steel mill facility in Busan, Korea. Praxair will construct a new 180 tons per day air separation plant and pipeline in the Mieum Foreign Industrial Zone in Busan that will serve Taewoong, as well as new and other existing customers. The plant is expected to start up in 2016. The new plant will help Taewoong meet customer demand for forged metal products in the wind turbine, shipbuilding, chemical and power plant sectors.
News For PX From The Last 14 Days
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January 26, 2015
10:00 EDTPXOn The Fly: Analyst Downgrade Summary
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09:23 EDTPXPraxair downgraded to Neutral at RW Baird
As previously reported, Baird downgraded Praxair to Neutral form Outperform citing choppy trends in Brazil and China in addition to currency headwinds. Baird lowered its price target to $133 from $136 on Praxair shares.
06:30 EDTPXPraxair downgraded to Neutral from Outperform at RW Baird
January 22, 2015
09:31 EDTPXPraxair awarded NASA contract to supply hydrogen to space programs
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January 20, 2015
09:33 EDTPXPraxair sent warning letter from FDA
The FDA warning letter, dated Jan. 7, cites an inspection that revealed quality system violations. Reference Link
January 16, 2015
10:06 EDTPXHigh option volume stocks
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09:20 EDTPXPraxair ses currency devaluation cutting FY15 EPS by 7c, revenue by $100M
09:19 EDTPXPraxair sees charge of about $131M in Q4
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09:19 EDTPXPraxair to report Venezuela results at SICAD II exchange rates
Praxair announced that it will no longer use the Venezuelan government’s official exchange rate of 6.3 bolivars per U.S. dollar to translate the financial statements of its Venezuelan business. Effective December 31, 2014, the company has adopted the Venezuelan government’s SICAD II currency exchange system rate of approximately 50 bolivars per U.S. dollar. As a result of the change, Praxair expects to record in Q4 results a charge of about $131M or 45c per diluted share. This charge includes remeasurement of monetary assets and liabilities to the SICAD II rate and related fixed asset impairments and inventory adjustments. Praxair estimates that the currency devaluation to the SICAD II rate will reduce the company’s full-year 2015 revenues by approximately $100M and diluted EPS by about 7c compared to 2014.
January 15, 2015
10:07 EDTPXHigh option volume stocks
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