Delisting of Shares, Monthly Production Reports, Public Offer Pricings, Leadership Changes, and Stock Price Movements - Analyst Notes on Cliffs, Petrobras, McDermott, Du Pont, and Chesapeake
Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, April 4, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Cliffs Natural Resources Inc. (NYSE: CLF), Petroleo Brasileiro Petrobras SA (NYSE: PBR), McDermott International Inc. (NYSE: MDR), E I Du Pont De Nemours And Co (NYSE: DD), and Chesapeake Energy Corporation (NYSE: CHK). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
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Cliffs Natural Resources Analyst Notes
On April 2, 2014, Cliffs Natural Resources (Cliffs) announced the delisting of its shares from Euronext Paris, effective May 7, 2014, following a comprehensive review of the trading volume, costs and administrative requirements related to its listing on Euronext Paris. Cliffs informed that the delisting request of the Company has also been approved by the Board of Directors of Euronext. Cliffs stated that it is providing a voluntary sales facility procedure on the NYSE to the shareholders holding their shares in Euroclear France. Under the facility, shareholders can deliver their shares through a financial intermediary from April 3, 2014 to April 16, 2014. The shares will be sold as from April 25, 2014 on the NYSE at the market price at the time of the sale, after the centralization of the sell orders by Société Générale, which is acting as centralizing agent. The Cliffs shares will be removed from the operations of Euroclear France on May 9, 2014, but they will continue to be listed on the NYSE under the symbol "CLF." The full analyst notes on Cliffs Natural Resources are available to download free of charge at:
http://www.AnalystsReview.com/04042014/CLF/report.pdf
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Petroleo Brasileiro Petrobras SA Analyst Notes
On April 1, 2014, Petroleo Brasileiro Petrobras SA (Petrobras) released its production results for the month of February 2014. The Company's total oil and natural gas output in Brazil for the month of February 2014 stood at 2.3 million barrels of oil equivalent per day (boepd), up 0.7% MoM; the exclusive oil production in Brazil averaged 1.9 million barrels/day (bopd), up 0.3% YoY. The average monthly oil output for February 2014 from fields located in the pre-salt layer in the Santos and Campos basins set the record of 385,000 bopd in February 2014, up 7.5% MoM. The Company's natural gas production in Brazil for February 2014 came in at 64.9 million cubic meters of natural gas per day, up 2.5% MoM. The full analyst notes on Petroleo Brasileiro Petrobras SA are available to download free of charge at:
http://www.AnalystsReview.com/04042014/PBR/report.pdf
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McDermott International Inc. Analyst Notes
On April 1, 2014, McDermott International Inc. (McDermott) announced the pricing of its underwritten public offering of 10 million 6.25% tangible equity units (the Units), each with a stated value of $25.00, which will result in net proceeds to the Company of $242 million. In addition, the Company has granted the underwriter a 13-day option to purchase up to an additional 1.5 million Units from McDermott. The offering is expected to close on April 7, 2014 and McDermott intends to use the net proceeds for general corporate purposes, including the funding of working capital requirements and capital expenditures. However, the announcement met with a knee jerk reaction from investors as the stock fell 10.10% to close at $7.03. The full analyst notes on McDermott International Inc. are available to download free of charge at:
http://www.AnalystsReview.com/04042014/MDR/report.pdf
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E I Du Pont De Nemours And Co. Analyst Notes
On April 1, 2014, E I Du Pont De Nemours And Co. (Du Pont) announced several senior leadership changes at the corporate, business and regional levels - Timothy P. McCann, President of DuPont Building Innovations, has been named as the Vice President of DuPont Integrated Business Management (DIBM), effective immediately; Rajeev A. Vaidya, the President - DuPont South Asia & ASEAN and Chairman of the Board of E. I. DuPont India Private Limited, has been named President of DuPont Building Innovations, effectively immediately; and Balvinder Singh Kalsi, Business Director, Corporate Plans, will return to India as the President, South Asia & the Association of Southeast Asian Nations (ASEAN) and Chairman of the Board of E. I. DuPont India Private Limited. The full analyst notes on E I Du Pont De Nemours And Co. are available to download free of charge at:
http://www.AnalystsReview.com/04042014/DD/report.pdf
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Chesapeake Energy Corporation Analyst Notes
On April 1, 2014, Chesapeake Energy Corporation's (Chesapeake) stock moved up 1.99% to end the trading session at $26.13, following a report from Moody's Investors Service which suggested that gas producers in Marcellus shale region will benefit more than gas producers elsewhere in North America, and their advantage isn't likely to change anytime soon. Moody's report also stated that Marcellus producers' low-cost, highly productive wells will be economic even if gas prices weaken. Chesapeake's stock opened the trading session at $25.71 and oscillated in the range of $25.66 - $26.16. Over the one year, the stock has returned 28.03%, outperforming the S&P 500 Index which returned 20.16% over the same period. The full analyst notes on Chesapeake Energy Corporation are available to download free of charge at:
http://www.AnalystsReview.com/04042014/CHK/report.pdf
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