NEW YORK, March 20, 2013 - Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Netflix, Cliffs Natural Resources, Petroleo Brasileiro Petrobras.
Meanwhile, Netflix, Inc.(NASDAQ:NFLX)’s U.S. subscribers will be able to automatically see what their Facebook friends have been watching on the Internet video service, provided they are willing to lets others see their
viewing habits.
Netflix Inc. introduced this feature to its international subscribers 18 months ago. It could not launch it in the U.S. as a 1988 law bans the disclosure of video rental records without a customer’s written consent. After several years of lobbying, the Congress revised the law and now subscribers can activate a video-sharing feature.
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The tool could backfire if subscribers are unhappy with how much their Facebook friends are finding out about their viewing habits. Further, subscribers who have signed up for Facebook sharing will have their movie selection shared with the accounts of their Facebook friends unless a specific movie or TV show is excluded. If subscribers permit sharing on the Facebook website, it will be posted there as well.
Goldman Sachs has cut its price target for Cliffs Natural Resources Inc(NYSE:CLF) shares sending the stock of the iron ore producer spiraling downwards.
The global investment bank lowered its price forecasts for iron ore by 8 percent, as a result of which mining analyst Sal Tharani slashed his price target on Cliffs shares to $20 from $24, while maintaining his "sell" rating.
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"In our view, Cliffs is not only suffering from weak iron ore fundamentals but also company specific issues - most prominent is its inability to control costs at its Bloom Lake mine," said Tharani, referring to an Eastern Canadian mine.
Cliffs has delayed an expansion at the Quebec iron ore project and costs at the mine have escalated. The company had also taken a $1 billion impairment charge in the fourth quarter related to Bloom Lake.
Shares of Cliffs were down 6.9 percent at $20.27 on the New York Stock Exchange.
Meanwhile, Brazil's state-run oil company Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) and its board of directors will maintain their investment-grade debt rating and not sell new stock.
Although the company's debt has passed Petrobras' internal limit of 2.5 times EBITDA earnings, CFO Almir Barbassa is confident that ratio will fall below the limit by sometime in 2014.
Petrobras has also drawn a $236.7 billion five-year investment plan, whereby the company will focus on increasing oil and natural gas output.
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Petrobras expects annual bond sales of $12 and plans to reduce costs on Petrobras oil wells. The latter could bring about savings of at least $1.4 billion.
Petrobras is also selling some assets to raise cash. The company expects to sell $9.9 billion of assets by the end of 2017.
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