Kolkata, West Bengal -- (SBWIRE) -- 09/06/2013 -- 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 Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Cereplast Inc (PINK:CERP), Walter Energy, Inc. (NYSE:WLT).
Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) shares jumped 5.89% to $14.56. The company on August 19 said that its board approved the sale of $2.1 billion in oil and gas, petrochemical and power plant assets as part of its $9 billion divestiture program. The sale included Petrobras' 35% stake in block BC-10 in the Campos Basin, known as the Parque das Conchas, to China's Sinochem for $1.54 billion.
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Additionally, the company on August 13 said that it will complete the bulk of a $9 billion, five-year, asset-sale plan this year as it tries to limit rising borrowing as a way to finance the world's largest corporate spending program. With the sale of half of its African operations, total asset sales under the plan rose to $1.8 billion at the end of the second quarter, Chief Financial Officer Almir Barbassa said on a conference call to discuss second-quarter earnings.
Cereplast Inc(PINK:CERP) shares fell 7.74% and closed at $0.0155. The company on Sept. 4 announced that it received five purchase orders totaling $450,000 from an existing customer in India for Cereplast Compostables(R) blown film resins. Each purchase order totals $90,000 and will be delivered throughout the remainder of 2013. The bioplastic resins will be used for the manufacturing of single-use disposable bags for distribution in the Sri Lankan and Middle Eastern markets.
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Additionally, the company on August 14 announced $1.7 million in net revenues during the first half of 2013 compared to $305,000 for the same period the prior year and $911,000 for all of 2012. Net sales for the six months ended June 30, 2013 were approximately $1.7 million, compared to $0.3 million in the same period in 2012. Net loss for the six months ended June 30, 2013 was $26.8 million, as compared to $6.3 million in the same period in 2012.
Moreover, the company on July 30 provided a shareholder update including an overview of the first half of 2013 and an outlook for the remainder of the year. The Company has made great strides over the past seven months and anticipates continued growth and success during the rest of 2013. Compared to 2012, revenue for the first 6 months of 2013 experienced major growth, with the expected number to top approximately $1.7MM compared to about $0.2MM in 2012, reflecting a nearly 800% increase.
Walter Energy, Inc. (NYSE:WLT) shares increased 6.15% to $14.32. Standard & Poor's Ratings Services said on Sept. 5 that it lowered its corporate credit rating on Walter Energy Inc. to 'B-' from 'B'. We also lowered the ratings on the existing senior secured debt to 'B' from 'B+' and the senior unsecured debt to 'CCC+' from 'B-'.
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Additionally, WLT’s Director David Beatty acquired 10,000 shares of Walter Energy stock on the open market in a transaction dated August 9. The shares were purchased at an average price of $12.49 per share, for a total transaction of $124,900.00.
Moreover, the company on August 1 reported a net loss of $34.5 million, or $0.55 loss per diluted share, in the second quarter 2013, as compared to net income of $31.9 million, or $0.51 per diluted share, in the second quarter of 2012. Second quarter 2013 consolidated revenues totaled $441.5 million, a decrease from $677.6 million in the second quarter of 2012.
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