http://marketrealist.com/2015/05/vales-1q15-earnings-take-hit/
"Vale’s net loss for 1Q15 was $3.12 billion compared to a loss of $1.85 billion in 4Q14. A major part of the loss was due to the non-cash impact of the depreciation of the Brazilian real (or BRL). The majority of Vale’s debt is denominated in US dollars and BRL depreciation, to the tune of 20.8% quarter-over-quarter. This led to more losses than gains on costs."
http://www.mining.com/weak-iron-ore-prices-cause-vale-1-44-billion-loss-in-q3-58124/
Vale's CFO must be a "clown" as well according to our resident genius, spuza12:
“Because the functional currency of Vale is the Brazilian real, every time our total debt when expressed in the functional currency increases in value, we record a loss,” Chief Financial Officer Luciano Siani said in a video posted on the company’s website. “We acknowledge the challenging times.”
http://www.moneymorning.com.au/20150417/why-the-fortescue-metals-group-share-price-fell-today.html
Another clown!!
Unfortunately, the issues don’t stop here for FMG.
Since the US Dollar Index was trading at 87 US cents, I’ve detailed analysis to readers why I expect to see a significantly stronger US dollar this year and next. We’re looking at a US Dollar Index shooting far beyond 160 US cents.
http://www.********.au/2015/06/17/heres-why-fortescue-metals-group-limited-was-slammed-yesterday/
MF, more clowns!
What does it mean? Investors may see troubling similarities between Fortescue and Arrium based on their large, US dollar denominated debt piles and relatively high cost of production
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$19.47 |
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-0.260(1.32%) |
Mkt cap ! $59.94B |
Open | High | Low | Value | Volume |
$19.65 | $19.65 | $19.37 | $126.0M | 6.462M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | $19.47 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.50 | 24291 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 200 | 19.450 |
1 | 400 | 19.430 |
1 | 1500 | 19.420 |
2 | 2700 | 19.410 |
9 | 3664 | 19.400 |
Price($) | Vol. | No. |
---|---|---|
19.500 | 727 | 1 |
19.540 | 399 | 1 |
19.550 | 2368 | 1 |
19.560 | 514 | 1 |
19.580 | 2372 | 3 |
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