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Stock Market & Financial Investment News

News Breaks
December 20, 2012
19:37 EDTVALEVale to take $4.2B pre-tax charge in Q4
Vale S.A. informs that it has concluded the annual assessment of Onša Puma and aluminum assets, which will imply the recognition of an impairment charge before tax of $4.2B, thus affecting our earnings in Q4. The issues with the two furnaces of Onša Puma determined the total stoppage of its ferronickel operations since June. After analyzing the case, Vale decided to rebuild one of the furnaces, at an estimated cost of $188M in 2013, and plans its start up in 4Q13. Given this event and in face of the current market environment for ferronickel, the valuation of Onša Puma determined the need to recognize an impairment charge before tax of $2.848B. The book value of Onša Puma was $3.778B as of September 30. The downward volatility of aluminum prices and the macroeconomic uncertainties about the European economy have contributed to reduce the market value of our 22% stake in Hydro ASA, a Norwegian aluminum producer, to a level below the book value of our investment. Based on Hydro share prices at September 30, we are recognizing an impairment charge before tax of $1.3B, which will impact our 4Q12 net earnings. Reference Link
News For VALE From The Last 14 Days
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October 30, 2014
06:12 EDTVALEVale reports Q3 net loss $1.44B
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October 29, 2014
10:00 EDTVALEOn The Fly: Analyst Downgrade Summary
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08:02 EDTVALEVale downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse downgraded Vale to Underperform with a reduced price target of $11 from $12.50. The firm believes shares still reflect optimistic expectations for full delivery of iron ore expansion and have yet to be adjusted for weaker end user steel demand and commodities deflation.
October 28, 2014
13:59 EDTVALEChanos covered some shorts in Brazil, Reuters reports
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October 26, 2014
19:47 EDTVALEBrazil's Rousseff wins second term as president, WSJ says
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October 24, 2014
07:25 EDTVALEVale volatility elevated as shares trend lower into Brazil elections
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October 23, 2014
11:38 EDTVALEStocks with call strike movement; FB VALE
Facebook (FB) March 90 call option implied volatility decreased 3% to 35, Vale (VALE) March 12 call option implied volatility decreased 3% to 33 according to IVolatility.
October 16, 2014
05:56 EDTVALEStocks with implied volatility movement; BX VALE
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