Orlando, FL -- (SBWIRE) -- 09/04/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Vale SA (ADR)(NYSE:VALE), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO).
Vale SA (ADR)(NYSE:VALE) shares gained 5.76% and closed at $15.24. The company on August 7 said its net profit plunged in the second quarter as a sharp depreciation in the local currency bludgeoned its financial results while softening commodities prices weighed on cash flow.
The company’s net profit sank 84% in the April-to-June period from a year earlier, to $424 million, falling well short of expectations. Analysts had expected the firm to post $2.68 billion in net profit.
The company received an average of $99.21 per ton of iron ore in the second quarter, down 11% from the first three months of the year. The drop reflected a broader trend in the seaborne iron-ore market, which hit a trough in late May as slower-than-expected economic growth in China led steel producers there to draw from stocks.
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JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) shares increased 5.65% to $7.48. The company on August 29 announced its unaudited financial results for its second quarter ended June 30, 2013. Second quarter net revenue was RMB 1.6 billion ($258.1 million), compared to RMB 1.7 billion ($273.3 million) in the first quarter of 2013. Net loss was RMB 132.4 million ($21.6 million) and loss per diluted ADS was RMB 3.58($0.58), compared to loss per diluted ADS of RMB 5.29($0.86) in the first quarter of 2013.
Additionally, the company on August 14 announced that it has entered into a Securities Purchase Agreement with a single institutional investor (the "Investor") to issue securities in a registered direct offering that will result in gross proceeds to the Company of up to US$96 million, before deducting the placement agent fees and estimated offering expenses. This amount does not take into account any proceeds from the Series B Warrant, which is not exercisable for one year following the date of issuance.
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