Unusually active option classes on open August 4th » 09:4008/0408/04/20
PSTG, ARCC, ADT, BP, VALE, AZN, INTC, PINS, MO
Unusual total active…
Unusual total active option classes on open include: Pure Storage (PSTG), Ares Capital (ARCC), ADT (ADT), ProShares VIX Short Term Futures (VIXY), BP (BP), Vale (VALE), AstraZeneca (AZN), Intel (INTC), Pinterest (PINS), and Altria Group (MO).
Unusually active option classes on open August 3rd » 09:4008/0308/03/20
EWJ, MOS, CLX, GSK, VALE, MSFT, RIOT, UNG, JMIA, MPC
Unusual total active…
Unusual total active option classes on open include: iShares Japan (EWJ), Mosaic (MOS), Clorox (CLX), GlaxoSmithKline (GSK), Vale (VALE), Microsoft (MSFT), Riot Blockchain (RIOT), U.S. Natural Gas Fund (UNG), Jumia Technologies (JMIA), and Marathon Petroleum (MPC).
|Over a week ago|
Vale put volume heavy and directionally bearish » 10:1507/3107/31/20
Bearish flow noted in…
Bearish flow noted in Vale with 6,791 puts trading, or 3x expected. Most active are Jan-21 12 puts and 8/14 weekly 12 puts, with total volume in those strikes near 4,500 contracts. The Put/Call Ratio is 2.07, while ATM IV is up over 2 points on the day. Earnings are expected on October 28th.
Vale backs 2020 iron ore fines production view of 310-330 Mt » 06:1107/2907/29/20
Vale's guidance for…
Vale's guidance for iron ore fines production in 2020 is unchanged, at 310-330 Mt, assuming the lower end of the guidance as the most likely scenario. Despite COVID-19 impacts and operational challenges faced in 2Q20, operational performance improved towardsthe end of the 2Q20 with the end of the rainy season, with June production at 25.1Mt, which represents a quarterly run-rate of 75 Mt. Milestones for achieving the guidance include: (i) production close to 200 Mt in 2020 in the Northern System, which includes production at Norther Range close to 2H19 level, a solid performance at S11D and Eastern Range restart; (ii) operational enhancementsin the Itabira Complex, which was impacted by maintenance in 1Q20 and COVID-19 in 2Q20; and (iii) the resumption of Fazendao site in 3Q20.
Vale reports Q2 iron ore fines production 67.6 Mt » 06:1007/2907/29/20
Vale's iron ore…
Vale's iron ore fines production totalled 67.6 Mt, with June production above 25 Mt, displaying strong acceleration from April and May levels, as it enters a seasonally-strong period, with lower rainfall levels. S11D reached a run-rate of 91 Mtpy in June, which is likely to improve in 2H20 towards an annual production slightly over 85 Mt. Nevertheless, the main effects that weighed on Q2 production were: (i) COVID-19 related impacts of 3.5 Mt; (ii) non-recurring events, such as long-distance conveyor belt maintenance at S11D, with a negative impact of 2.1 Mt; and (iii) the expected stoppage of Fazendao mine in February due to depletion of the licensed mining area, planned to restart operations during 3Q20, with an average monthly production of 0.4 Mt in the rest of the year.
Vale names Denis Cuenca as Chief Compliance Officer » 17:1907/2007/20/20
Vale informs that, from…
Vale informs that, from this date onwards, Denis Cuenca takes on as Chief Compliance Officer, reporting directly to the Board of Directors and, will be responsible for the compliance office, including the integrity department, the internal audit and the whistleblower channel. Denis Cuenca has a solid career as an Internal Audit, Risk and Compliance executive. Denis has demonstrated systemic and innovative approach regarding control and prevention processes while yielding positive results and bringing recognition among its peers in the companies he worked. In his international experience, he conducted auditing and due-diligence works in Mexico, United States, Uruguay and Venezuela. Before joining Vale, he worked in companies such as Ultrapar, KPMG, Banco Itau, Banco Real and Itautec. The CCO will be responsible for managing the third line of defense, overseeing corporate integrity within the organization and ensuring compliance with laws, regulations, policies and procedures. This Office must assure to senior management and the Board that there are adequate policies and procedures, well understood and respected by all employees. The CCO will report directly to the Board of Directors and interact with the Audit Committee, granting a degree of autonomy and total independence from the other management structures of the company. The implementation of the Chief Compliance Office, approved by the Board of Directors in December 2019, is another step towards addressing the recommendations issued by the Extraordinary Independent Consulting Committee for Investigation in the report released in February 2020 and adds to other measures to strengthen Vale's risk governance and safety, such as the establishment of the Audit Committee and the adoption of the Engineer of Record.
Court forces Brazil's Vale to set aside R$ 7.9B for Brumadinho dam damages » 13:5607/1507/15/20
"Vale informs on the…
"Vale informs on the injunction to present guarantees" published on June 11th, 2020, and informs that the TJMG Court judge Leite Praca dismissed the request for suspensive effect on the appeal filed by Vale, and therefore, determined the company to present, until July 23rd, guarantee in the amount of R$ 7.9 billion, in order to ensure the enforcement of any fine or forfeiture of assets, rights and values in the future. Vale will appeal the decision and will take all measures to ensure its right of defence within the legal deadlines. Ever since the COVID-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online," noted the company in a regulatory filing, out earlier.
|Over a month ago|
CFO sees Vale financially able to resume dividends, WSJ reports » 15:4607/0507/05/20
Chief Financial Officer…
Chief Financial Officer Luciano Siani said Vale is financially ready to resume making divided payments after an almost two-year halt following the deadly dam failure in Brumadinho, but it is waiting to see how the coronavirus pandemic advances before making a decision, The Wall Street Journal's Jeffrey Lewis reports. Vale's policy was to pay a dividend twice a year, in March and September, and its last distributed cash to shareholders in September 2018. After the Brumadinho disaster in January 2019, which killed 270 people, Vale chose to halt payments and focus on helping survivors, rebuilding the town and cleaning up the environmental effects, the author notes. Reference Link
Vale call volume above normal and directionally bullish » 13:2506/2506/25/20
Bullish option flow…
Bullish option flow detected in Vale with 61,306 calls trading, 4x expected, and implied vol increasing over 1 point to 48.61%. Aug-20 12 calls and Aug-20 11 calls are the most active options, with total volume in those strikes near 39,800 contracts. The Put/Call Ratio is 0.07. Earnings are expected on July 29th.
Vale announces agreements for sale of minority equity stake in PT Vale » 08:0406/2206/22/20
Vale SA informs that its…
Vale SA informs that its subsidiary Vale Canada Limited, or "VCL," has signed, together with Sumitomo Metal Mining, the definitive agreements for the sale of a 20% stake of PT Vale Indonesia Tbk to PT Indonesia Asahan Aluminium. After the closing of the transaction, Inalum will have acquired 20% of PT Vale shares, being 14.9% from VCL and 5.1% from SMM. Vale and SMM will then have a stake of 44.3%2 and 15.0% in PT Vale, totalling a 59.3% participation. For its stake, VCL will receive IDR 4,126 billion, or approximately $290M in cash, upon closing of the transaction, which is expected to happen by the end of 2020, after the satisfaction of standard regulatory approvals.