Boston, MA 03/03/2014 (wallstreetpr) – Central European Media Enterprises Ltd. (NASDAQ:CETV) shares jumped more than 92 percent in the last trading session before settling up almost 75 percent to $4.74. There were two reasons to explain the surge of the stock. First was that the company reported financial results which showed narrow loss compared to the same quarter of last year. CETV which operates several commercial television stations realized a loss of $46.5 million, better than loss of $80 million in 2012. The other thing which powered the stock was that the company announced reaching a financial deal with Time Warner involving about $545 million. Thus, the announced financing deal will give Central European Media Enterprises Ltd. (NASDAQ:CETV) more room to attain turnaround.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR): A platform provides offshore services to PBR began to show risk of sinking early Friday and had to be evacuated. However, the platform was later stabilized it is no longer at risk of sinking. About 113 crew members on board the rig at the time of the incident and they were moved to another platform. The rig is owned by Nodel do Brasil. Some 11 workers of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) were killed in 2001 in gas explosions on floating oil platforms. Authorities had last month raised concern over safety issues regarding some platforms used by PBR and there were fears that shutdown of platforms deemed as risky would hurt the production target of the company. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is trying to boost its domestic production activities in efforts to stem losses.
General Motors Company (NYSE:GM) did what is required by recalling vehicles with ignition switch problem. But perhaps the twist in the story of recall was not anticipated by the company when it first issued notice to recall about 800,000 cars. That GM acted late, initially avoided recall of the full number of vehicles it had earmarked and officially actually acknowledging 13 deaths instead of the previously announced six due to the ignition problem, have all come to weigh in on the company’s reputation. Perhaps regardless of what comes out of the NHTSA investigation, General Motors Company (NYSE:GM) is having a big publicity issue to deal with.
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