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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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February 26, 2015
11:24 EDTVALEVale falls, levels to watch
Shares are down 4.2% to $7.38, just off the low of the day at $7.25. Below the low of the day, next support is at the 52-week low at $6.69. Resistance is at the session high at $7.50, and then the closing price of the prior session at $7.71.
11:21 EDTVALEVale reports 2014 iron ore supply of 331.6 Mt
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11:21 EDTVALEVale reports Q4 net loss of $1.44B
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February 25, 2015
15:05 EDTVALENotable companies reporting before tomorrow's open
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February 23, 2015
09:59 EDTVALEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:25 EDTVALEOn The Fly: Pre-market Movers
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08:20 EDTVALEVale downgraded to Equal Weight from Overweight at Morgan Stanley

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