Stocks That Plunged: Goldman Sachs Group Inc. (NYSE:GS), Vale SA (ADR) (NYSE:VALE) And Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL)
Dallas, Texas, 09/29/2014 (ustrademedia) – Goldman Sachs Group Inc. (NYSE:GS) has optimized its efforts to ensure transparency and investor confidence. GS is ensuring the clients are fair allowing equitable environment for new trading platform IEX. The platform that includes low-frequency trading supports equitable outcome and has already notched $75 million in the first financial rounds. GS, last financial report indicated a rise of 5% reaching $2.04 billion in July, in comparison to 2013.
Vale SA (ADR) (NYSE:VALE) had positive news to report on Friday. The company has announced that now has a new deal on hand with China Merchants Group. The company reported that Vale and China Merchants Group has signed an agreement with respect to iron ore shipping strategic co-operations. The agreement signed by Vales Shipping and Distribution Director, Mr. Gurinder Singer, and the President of China Merchants Energy Shipping Co. Mr. Xie Chunlin in Beijing. The new agreement is a strategic co-operation and a ‘contract of affreightment’ for 25 years. The contract will include over ten very large ore carriers which the Chinese maker will build and supply to Vale SA (ADR) (NYSE:VALE). Considered to be one of the largest miners in the world, Vale will be using these carriers to move iron ore from its Brazilian facilities to the world’s largest iron consumer in the world China. VALE continues to foray into Chinese iron export arena with newer agreements that involve Chinese stakeholders.
Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) to was part of the casino industry reviving over the past week. MPEL too reported a higher close of 0.2% over the previous week, making up marginally for earlier losses. MPEL gains were part of the week-long gains being reported by the industry with major players MGM China Holdings Ltd., reporting a rise of 3.9%. Galaxy Entertainment is reporting 3.6% while SJM Holdings Ltd. is reporting 4% while WYNN reported 4.9% in gains.