Boston, MA 03/04/2014 (wallstreetpr) – NII Holdings Inc (NASDAQ:NIHD) was Monday placed on negative outlook by S&P Ratings Services. The holding company that operates Nextel Communications Inc had its corporate credit observation reduced from ‘CCC+’ to ‘CCC.’ That negative outlook was linked to the company’s recent lackluster fourth quarter 2013 performance results. The lowered credit rating on NIHD is also connected to the company’s disclosure that its auditors were uncertain over its ability to carry on as a going concern. The S&P credit rating analysts therefore observed that they think or even believe that NII Holdings Inc (NASDAQ:NIHD) is at higher risk of failing its financial maintenance agreements with various vendors and banks over the coming year. Shares of NII Holdings Inc (NASDAQ:NIHD) were last seen trading at $1.16, after gaining 0.87 percent in the Monday trading session.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) may realize fourth quarter net income that is weaker than what it realized a year ago. According to analysts polled by Reuters, the company is likely to realize a 30 percent fall in its fourth quarter profit. That would mainly be due to the weaker position of the Brazil currency against foreign currencies, especially the dollar. Basically, the weaker Brazil money has eroded the fuel price increases that PBR has been using to offset its losses in the domestic market. Thus according to the analysts, PBR or more commonly Petrobras, is likely to come up with profit of 5.41 billion reais ($2.31 billion) in the fourth quarter, lower than 7.74 billion reais in the corresponding quarter a year earlier. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) had its shares changing hands at $10.95 by bell time in the last session after losing $2.23 percent.
JPMorgan Chase & Co. (NYSE:JPM) had a troubling moment in the previous session. The stock lost 1.07 percent of its market value, bringing its shares to change hands at $56.21 by bell time. The stock was seen sinking to $55.69 and then escalating to $56.42 in the day. JPMorgan Chase & Co. (NYSE:JPM) was able to lose its prestigious position as the most profitable bank stock annually in the U.S. That loss came because of the bank’s heavy settlement burden in 2013.
