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Stocks On Radar: Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Covidien plc (NYSE:COV), National Bank of Greece (ADR) (NYSE:NBG)

Boston, MA 10/16/2014 (wallstreetpr) – The integrated oil and gas producer from Brazil, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) saw the share price of its ADR plummet by nearly 9 percent to end at $15.55 at close of October 15th trading. The huge sell off is an continuation of the volatility the stock has been experiencing in the run up to Brazil’s presidential elections slated for later this… The government owned and managed oil giant has seen its operations handicapped over the past few quarters, due to the slowing down of decision making by the government administrators with respect to tough fiscal policies designed to turn around the company.

Covidien plc (NYSE:COV) shares tanked almost 7 percent during trading on 15th October to settle at $85.86 per share. The health care manufacturer stock was down in spite of publishing positive developments with regards to its “Nellcor Portable SpO2 Patient Monitoring System” earlier in the week. The medical device maker had over the weekend announced that it has received the 510(k) approval from the U.S. Food and Drug Administration for its latest monitoring system which is designed to offer home care via its oximeter facility. The company had also disclosed that the new device is fully compliant with IEC 60601-1-11 standards.

National Bank of Greece (ADR) (NYSE:NBG) saw its stock drop by nearly 15 percent during trading on 15th October on the back of continued free fall witnessed in  the Greece headquartered company stocks. The across the board exit of investors from the Greece based firms was triggered by rating agency Fitch issuing a warning that further deepening of the political crisis in the volatile country would lead to further downward pressure on its public sector banks. The news sent the stock market in Athens plummeting. The negative sentiments carried over to the U.S markets and resulted in the steep fall in National Bank of Greece (ADR) (NYSE:NBG) stock yesterday.

Published by Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.



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