Kolkata, West Bengal -- (SBWIRE) -- 09/18/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP), Peabody Energy Corporation (NYSE:BTU), Stratasys, Ltd. (NASDAQ:SSYS).
Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) shares declined 3.20% to $1.21. The company on Sept. 13 announced a change in senior management, with Mr. David King stepping down as CEO and acting CFO and Mr. Zhou Weiping assuming the roles of interim CEO and interim CFO with immediate effect. The board of the Company will first commence a search for a new CFO. Mr. Zhou will retain his roles as President and Director of the Company.
Additionally, the company on August 30 announced that following productive discussions with its key stakeholders earlier this week in China, an understanding has been reached with its Creditor Working Group led by Clearwater Capital Partners and Spinnaker Capital Limited for restructuring the Company.
Moreover, the company on August 27 announced that on August 21, 2013, each of Ms. Susan Wang, Mr. Julian Worley, and Mr. Zhizhong Qiu resigned as directors of the Company with immediate effect. Such directors indicated that they could no longer serve effectively as independent directors for reasons that included not being provided with information that was critical for them to fulfill their responsibilities and the Company's failure to implement some of their proposed actions.
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Peabody Energy Corporation (NYSE:BTU) shares gained 1.27% to $18.28. The company on Sept. 17 said it took steps to avoid paying health care benefits to some 3,100 retirees it assumed from bankrupt Patriot Coal Corp., appealing an Eighth Circuit panel’s decision finding that it is obligated to fund the benefits. The company, Patriot’s former parent, said its contractual obligations to pay for the retiree benefits will terminate on Jan. 1, 2014, the same day Patriot’s new labor agreement with the United Mine Workers of America goes into effect.
Additionally, the company on Sept. 13 asked the bankruptcy court to confirm the termination of our contractual obligation to fund certain of Patriot Coal's retiree healthcare benefits.
Under Patriot Coal's new labor agreements with the UMWA, its obligation to pay healthcare benefits for its retirees will terminate by January 1, 2014. Under the terms of Peabody's contract with Patriot, our obligation to fund certain of Patriot's retiree healthcare liabilities will terminate at the same time. After Patriot's obligations to provide retiree healthcare benefits end, a Voluntary Employee Beneficiary Association (VEBA) will provide healthcare benefits to Patriot retirees.
Moreover, the company on August 21 announced that the company has named veteran mining executive Glenn Kellow to the position of President and Chief Operating Officer. He will report to Chairman and Chief Executive Officer Gregory H. Boyce and serve as a member of Peabody's executive leadership team.
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Stratasys, Ltd. (NASDAQ:SSYS) shares increased 3.61% to $96.82. The company on Sept. 17 announced that the underwriters of its recently announced public offering have fully exercised their over-allotment option to purchase an additional 675,000 shares at a public offering price of $93.00 per share. This brings the total number of shares to be sold in the offering to 5,175,000 ordinary shares and the net offering proceeds to Stratasys from the offering to approximately $462.8 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on September 18, 2013, subject to the satisfaction of customary closing conditions.
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