Basic Material Most Active: Vale (NYSE:VALE), Petroleo Brasileiro Petrobras (NYSE:PBR), Barrick Gold (NYSE:ABX), Cabot Oil & Gas (NYSE:COG)

Technology Stocks News 2

Brazil’s Superior Justice Tribunal, the country’s second highest court, on Thursday ruled in favour of iron ore giant Vale SA (ADR) (NYSE:VALE) in a dispute over taxation of foreign subsidiaries. Reuters reports the court ruled 3 to 1 that Brazilian treaties with Belgium, Luxembourg and Denmark prevented Brazil from taxing the profits of Vale SA (ADR) (NYSE:VALE) units in those countries, although it also said taxation of company’s profits in Bermuda are valid. Vale SA (ADR) (NYSE:VALE) stock performance was 1.99% in last session and finished the day at $13.86. Traded volume was 19.98million shares in the last session and the average volume of the stock remained 21.88million shares. The beta of the stock remained 1.71.

Eneva traces its roots back to 2001, when Brazil last rationed power amid a drought that drained reservoirs. Batista set up a venture known as MPX to build a thermoelectric plant in the northeastern state of Ceara, the entrepreneur wrote in his 2011 book “O X da Questao.” As shortages subsided, Batista sold the plant to state-run Petroleo Brasileiro SA (ADR) (NYSE:PBR), pocketing a $50 million profit, he recalled in the book. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) rose 0.66 percent to $13.73 Thursday on volume of 17.97million shares. The intra-day range of the stock was $13.52 to $13.85. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has a market capitalization of $89.55billion.

Barrick Gold Corporation (USA) (NYSE:ABX) founder and outgoing chairperson Peter Munk criticized potential takeover target Newmont Mining in an interview with the National Post newspaper on Thursday, saying the US miner is “not shareholder-friendly.” Barrick Gold Corporation (USA) (NYSE:ABX)’s stock on Apr 24, 2014 reported a decrease of -1.91% to the closing price of $17.47. Its fifty two weeks range is $13.43 -$21.70. The total market capitalization recorded $20.35billion. The overall volume in the last trading session was 13.36million shares. In its share capital, ABX has 1.17billion outstanding shares.

Despite severe winter weather that curtailed some of Cabot Oil & Gas Corporation (NYSE:COG)’s production in both Texas and Pennsylvania in the first quarter, newfound momentum and a growing confidence in its assets will find it deploying another rig in the third quarter and scrapping its year-end plans to cut its budget by $75 million. On Thursday, shares of Cabot Oil & Gas Corporation (NYSE:COG) advanced 5.06% to close the day at $37.97. Company return on investment (ROI) is 10.30% and its monthly performance is recorded as 16.40%. Cabot Oil & Gas Corporation (NYSE:COG) quarterly revenue growth is -4.57%.

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