In spite of an EPS miss and $5.66B worth of mine write-downs, Vale (VALE +2.4%) is rising...


In spite of an EPS miss and $5.66B worth of mine write-downs, Vale (VALE +2.4%) is rising post-earnings, as investors focus on a revenue beat and cautiously optimistic commentary. The mining giant is confident it won't see a major slowdown in China, and expects the local steel market to grow moderately this year. Bulk materials and base metals revenue respectively fell 21% and 23% Y/Y thanks to price declines, and rising maritime freight expenses led cost of goods sold rose by $142M even after adjustments. Opex -2% Y/Y to $2.3B. CC at 10AM ET (webcast). (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs