Lakeway, TX -- (SBWIRE) -- 03/18/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) soared 8.57% to $0.760 in the pre-market trading hours. The Company announced that it has received from the trustee of its 3% Convertible Notes a notice of default and acceleration relating to Suntech's non-payment of the principal amount of $541 million that was due to holders of the Notes on March 15, 2013. Such event of default has also triggered cross-defaults under Suntech's other outstanding debt, including its loans from International Finance Corporation and Chinese domestic lenders.
How Should Investors Trade STP After The Recent Movement? Find Out Here
Exxon Mobil Corporation (NYSE:XOM) went down 0.73% to $88.72 in the pre-market trading hours. Norwegian oil giant Statoil ASA and its partner Exxon Mobil Corp have made the third natural gas discovery above 250 million barrels of oil equivalent in a year in Block 2 off Tanzania. Statoil defines discoveries of that size as "high-impact." The company said it and Exxon Mobil had discovered between four and six trillion cubic feet of natural gas in the Tangawizi-1 well off Tanzania.
Is XOM Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here
Fab Universal Corp (NYSEAMEX: FU) jumped up 9.76% to $4.05 on a traded volume of 73k shares. The Company announced 2012 full year financial results. The revenues increased 782% to $27,458,730. The overall increase in revenue for 2012 is substantially due to the acquisition of Digital Entertainment International. FAB posted a Net Loss of ($4,004,225) or ($.34) per share versus a Net Loss of $(9,979,883) or ($1.31) per share in 2011, due to acquisition related stock issuances and expenses.
Is LECO a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here
Ambow Education Holding Ltd (ADR) (NYSE:AMBO) plunged 18.71% to $1.26 on a traded volume of 208k shares. Ambow Education Holding Ltd. announced that its Board of Directors received on March 15, 2013 a non-binding proposal from The Baring Asia Private Equity Fund V, L.P., pursuant to which Baring proposes to acquire the outstanding securities of the Company for $1.46 in cash for each American Depositary Share of the Company and $0.73 in cash for each Class A and Class B ordinary share of the Company.
How Should Investors Trade AMBO After The Latest Earnings Report? Find Out Here
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