Chimera’s Pressures, Ford Rumors and 3 Spotlight Stocks to Watch
Chimera Investment Corporation (NYSE:CIM) sees a low of $1.81. Chimera began the session down 15 percent on Friday, although no specific news has been released on the financial institution. Shares have seen pressure since the middle of June after an update on its current review.
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Nexen (NYSE:NXY): New York Senator Schumer intends to ask Treasury Secretary Geithner the ability to use Cnooc’s (NYSE:CEO) proposed $15 billion purchase of Canada’s Nexen (NYSE:NXY) as leverage to open the Chinese market for U.S. companies, according to the WSJ.
Arch Coal (NYSE:ACI) stated that it narrowed its capital spending guidance range to $410 million to $430 million for 2012. Also, the company is evaluating future capital expenditure plans to minimize spending where possible and is redeploying some idled equipment into other active operations. Arch predicts future reductions in annual capital expenditures of $30 million to $40 million via these initiatives. Arch stated that it keeps moving forward with the development of the high-quality, low-cost Leer metallurgical mine in Appalachia, with the longwall scheduled to begin in mid-2013. To optimize the company’s asset portfolio, Arch closed four higher-cost thermal coal mining operations and stalled an additional thermal mine in Appalachia during the Q2 of 2012 because of the unprecedented downturn in U.S. coal demand.
Sirius (NASDAQ:SIRI) could very well be near a break out northward as it presses on resistance levels around $2.10.
Ford (NYSE:F) claims rumors that it is considering adding more aluminum parts to the F-150 are “premature,” according to the Detroit News. A spokesperson states, “We’re constantly looking at multiple ways to improve the fuel efficiency and capabilities of our cars and trucks with innovative technologies.”
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