Alcoa Inc (NYSE:AA) completed the expansion of its Davenport facility at a cost of $300 million. This was required as the automotive industry saw the best year in 2013 after several disappointing years. North America saw sustained demand for vehicles and the trend is expected to continue. However, businesses in commodity segments like aluminum are yet to recover their full strength. Alcoa Inc (NYSE:AA) still has some structural weaknesses that it needs to correct before it can come out of the woods. Alcoa Inc (NYSE:AA) stock opened at $11.38 in last session, and closed at $11.76, while the day range of AA stock is $11.34-$12.00.The stock showed a positive weekly performance of 3.80%.
Vale SA (ADR) (NYSE:VALE) is a Brazilian metals and mining company has informed the conclusion of the debentures issuance. The company raised the issuance from R$750 million as was initially declared to R$1 billion due to the high demand for the investment instrument. In a press release, the company stated that the instruments will be updated based on factors such as inflation and that they will also bear annual interests featuring different pricings. It also emerged from the news release that almost 90 percent of the debentures offering was allocated to retail investors. Vale SA (ADR) (NYSE:VALE) stock opened at $14.38, in last session and closed at $14.63, by gained 1.11%.The 52 week range was $12.39-$19.70.Company’s market capitalization is $75.39 billion.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has confirmed an internal audit to look into the claims of irregular contracts after documents leaked allegations that it received bribes from SBM Offshore to award contracts. It is claimed that PBR officials received about $139 million in irregular payments for contracts awarded to SBM. This latest relation is part of the nearly two years of probe into SBM’s commercial activities. PBR has said that it expects to zero in on its internal audit in 30 days. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock loosed -0.62% and finished the last session at $11.13.The EPS of the stock remained 1.85.Company’s market capitalization is $72.59 million.
Barrick Gold Corporation (USA) (NYSE:ABX) has received a $2 price-target hike to $23 at CIBC. Over the past 10 sessions, Barrick Gold Corporation (USA) has racked up an International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.05, which ranks in the 60th annual percentile. In other words, speculators have bought to open three times as many calls as puts, representing a slightly faster than usual rate of bullish betting over bearish. Barrick Gold Corporation (USA) (NYSE:ABX) stock opened the session at $20.32, and closed the session at $19.77.The 52 week range of the ABX stock remained $13.43-$31.73 and the day range was $19.86-$20.66.