Petrobras Pops on Good News from Libra Field and 2 Other How Stocks to Watch
Petrobras – Petróleo Brasileiro (NYSE:PBR): Current price $17.27
Petrobras shares are up by almost 9 percent Monday after its Director of Exploration José Formigli Filho said in a phone conference that the cost of developing the colossal offshore Libra oil field will not deter other projects in the company’s portfolio. Following Petrobras taking a 40-percent interest in Libra, it has faced fears that development costs of some $100 billion over 30 years might put pressures on a firm with increasing debt and a massive $237 billion five-year investment plan.
Alcoa Inc. (NYSE:AA): Current price $9.49
Alcoa has chosen Esra Ozer to become President of Alcoa Foundation, which is one of the biggest corporate foundations in the United States, effective Thursday. Ozer succeeds President Paula Davis, who resigned to take a role outside of the company. As President, Ozer will manage the organization’s world philanthropic activities and contributions, with a strong focus on education and the environment, and its support to Alcoa’s communities globally.
Bristol-Myers Squibb Co. (NYSE:BMY): Current price $51.82
Bristol-Myers Squibb and Alder Biopharmaceuticals announce the presentation of efficacy and safety data from a Phase IIb dose-ranging study of subcutaneous clazakizumab in adults suffering from moderate-to-severe rheumatoid arthritis, and an inadequate response to methotrexate. Clazakizumab is a humanized anti-IL-6 monoclonal antibody that is directed against the IL-6 cytokine instead of its receptor. All clazakizumab treatment arms, alone or in combination with MTX, showed efficacy in controlling the signs and symptoms of RA, and met the predefined primary endpoint of a higher ACR20 response rate versus MTX alone following 12 weeks of treatment.
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