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Braskem (BAK) shares fell over 15% on Wednesday after UBS downgraded the stock to sell from neutral and cut its price target to $1.50 per share from $4 earlier.Trading volume stood at nearly 2.2 million shares compared with a daily average of over 2.3 million.Price: $1.78, Change: $-0.33, Percent Change: -15.48%
Braskem (BAK) has an average rating of hold and mean price target of $3.87, according to analysts polled by FactSet.
Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index easing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.The Philadelphia Oil Service Sector Index was shedding 0.6%, and the Dow Jones US Utilities Index was declining 0.9%.In geopolitical news, an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, Reuters reported.Front-month West Texas Intermediate crude oil jumped 6.4% to $102.23 a barrel, and the global benchmark Brent crude contract popped 6.2% to $107.44 a barrel. Henry Hub natural gas futures rose 0.6% to $2.84 per 1 million BTU.In sector news, the Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption. The cartel now expects oil consumption to increase by 380,000 barrels this year, down from its prior forecast that called for a gain of 580,000 barrels.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 1.6 million barrels in the week ended Sept. 4 following a decrease of 7.6 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 400,000 barrels after a 4.5-million-barrel decline in the previous week, a much smaller drop than the 1.4-million-barrel decrease expected in a survey compiled by Bloomberg.US natural gas stocks rose by 40 billion cubic feet in the week ended Sept. 4, above the 34 billion increase expected in a survey compiled by Bloomberg and following an increase of 30 billion cubic feet in the previous week.In corporate news, Constellation Energy (CEG) agreed to acquire RISEC Holdings, owner of the Rhode Island State Energy Center, from Shell's (SHEL) North America energy unit, for $715 million. Constellation shares fell 2%, and Shell rose 0.5%.Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras (PBR), extending the contract through Dec. 31, 2029, from Dec. 31, 2026. Braskem shares jumped past 7%, and Petrobras was up 2.3%.TotalEnergies (TTE) and its partners plan to invest $10 billion in Angola over the next five years to increase oil output in the country, news outlets reported as early as Wednesday, citing remarks made by TotalEnergies CEO Patrick Pouyanne at a conference. TotalEnergies shares were down 0.2%.Vistra (VST) was Smart Insider's stock pick of the week after Chief Executive Jim Burke bought $1.2 million worth of shares between Aug. 24 and Sept. 1 at an average price of $135.38. Vistra shares were shedding 2.2%.
Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.The Philadelphia Oil Service Sector Index was shedding 0.6%, and the Dow Jones US Utilities Index was declining 0.9%.In geopolitical news, an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, Reuters reported.Front-month West Texas Intermediate crude oil jumped 6.4% to $102.23 a barrel, and the global benchmark Brent crude contract popped 6.2% to $107.44 a barrel. Henry Hub natural gas futures rose 0.6% to $2.84 per 1 million BTU.In corporate news, Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras (PBR), extending the contract through Dec. 31, 2029, from Dec. 31, 2026. Braskem shares jumped past 7%, and Petrobras was up 2.3%.
Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras, extending the contract through Dec. 31, 2029, from Dec. 31, 2026.Under the amendment, contractual daily gas volumes will range from 300,000 cubic meters to 1 million cubic meters over the contract period. The agreement is valued at an estimated 1.85 billion Brazilian reais.The supply will be delivered at the entrance of the TBG, TAG and NTS transportation networks under a firm, non-flexible arrangement.Price: $21.49, Change: $+0.56, Percent Change: +2.65%
Braskem (BAK) has filed a petition for extrajudicial reorganization covering about $10.9 billion of unsecured financial obligations, seeking a framework to restructure its debt, the company said Tuesday in a regulatory filing.The proposed reorganization has secured participation from unsecured creditors representing 39.6% of the claims, Braskem said in the filing with the US Securities and Exchange Commission.The proposed framework includes extending and amending debt maturities, potentially capitalizing interest, possible liquidity support from major shareholders and potential equity contributions or conversion of part of the debt into equity, the filing said.Shares of the company were over 4% higher in premarket activity Tuesday.Price: $1.9280, Change: $+0.078, Percent Change: +4.22%
Energy stocks fell Monday with the NYSE Energy Sector Index dropping 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) declining 0.8%.The Philadelphia Oil Service Sector Index fell 2%, and the Dow Jones US Utilities Index rose 1.3%.In geopolitical news, the US will remove any entity facilitating money laundering on Iran's behalf from the US dollar system as part of "Operation Economic Outcast," Treasury Secretary Scott Bessent said at a press conference. In addition, Bessent said the Treasury's Office of Foreign Assets Control is currently sanctioning over 60 entities, individuals and vessels assisting Iran, and he expects a "major announcement" of sanctions against a financial institution later this week.West Texas Intermediate crude oil fell 2.1% to $85.25 a barrel, and global benchmark Brent declined 2.2% to $92.28 a barrel. Henry Hub natural gas futures increased 0.2% to $2.78 per 1 million BTU.In corporate news, Chevron (CVX) said its EMEA subsidiary signed a production sharing agreement with Libya's National Oil Corp. Chevron shares declined 1.1%.Braskem (BAK) said its board approved the filing of an out-of-court restructuring petition covering the company and certain subsidiaries, involving about $10.9 billion in unsecured financial obligations, Braskem shares fell 7%.ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028, Reuters reported. Exxon shares fell 0.6%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil, LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported. Shell shares fell 0.4%.
(Updates sourcing and adds share movement in the 1st paragraph)Braskem (BAK) said Monday that its board approved the filing of an out-of-court restructuring petition covering the company and certain subsidiaries, involving about $10.9 billion in unsecured financial obligations, sending its shares down about 7%.The company said the restructuring is intended to provide a stable and protected legal environment for negotiating and implementing the restructuring of those obligations.Braskem said the process has a strictly financial scope and does not cover obligations to suppliers, customers or other stakeholders, which will continue to be fulfilled as usual.Braskem said it will file the petition once the relevant documents have been formalized and will provide further updates through its investor relations website and regulatory channels.Price: $1.86, Change: $-0.14, Percent Change: -6.78%
Stocks were mixed in late-morning trading Monday, with the Dow Jones Industrial Average up and the S&P 500 Index and Nasdaq Composite down, as Treasury yields fell after CNBC reported that the US Treasury Department may tap its General Account to help fund its buyback operation.The US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social.In company news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday, citing people familiar with the matter. The price hikes will impact systems shipped early next year, including those with Vera Rubin and Grace Blackwell chips, the report said, citing the people. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the company at more than $30 billion, The Information reported Sunday, citing people familiar with the talks. The round could be worth billions of dollars and would increase Perplexity's valuation by more than 50% from its last financing, the report said. Nvidia shares were down 2.2% around midday.Alibaba (BABA) has officially rolled out its Wan3.0 AI video generation tool, Reuters reported Monday, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing with the US Securities and Exchange Commission. Alibaba shares were up 0.7%.PDD (PDD) reported Q2 non-GAAP earnings Monday of 19.33 Chinese renminbi ($2.88) per diluted American depositary share, down from 22.07 renminbi a year earlier but above the FactSet consensus analyst estimate of 18.45 renminbi. Second-quarter revenue was 112.36 billion renminbi, up from 103.99 billion renminbi a year ago but below the FactSet consensus of 115.09 billion renminbi. PDD shares were down 1.9%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. Shell shares were down 0.5%, while Exxon, LyondellBasell and Apollo shares were down 1.6%, down 2.2% and up 0.2%, respectively.H.B. Fuller's (FUL) board has rejected Ancora's bid to acquire its building adhesives unit for up to $1.2 billion, the company said Monday. The board concluded Ancora's bid undervalued the unit and failed to take into account its potential to be a significant driver of earnings in the future, the company said. H.B. Fuller shares were down 0.9%.Braskem (BAK) filed for out-of-court restructuring Monday, which involved more than $10 billion in debt, Reuters reported, citing people familiar with the matter. The filing, which comes as the petrochemical company's 60-day creditor protection period expires, provides an extra 90 days to negotiate a final restructuring plan with creditors, according to the report. Braskem shares were down 4.3%.Paramount Skydance's (PSKY) Monday meeting with California officials was canceled after State Attorney General Rob Bonta accused the company of leaking details and negotiating in bad faith over its proposed acquisition of Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were down 0.8%, while Warner Bros. shares were up 0.7%.Zillow Group (Z) said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin. Under the agreement, Zillow and Redfin are allowed to continue their partnership, which aims to provide multifamily rental listings from both companies. Zillow shares were up 2.3%.Price: $210.12, Change: $-4.60, Percent Change: -2.14%
Braskem (BAK) filed for out-of-court restructuring Monday, which involved more than $10 billion in debt, Reuters reported, citing people familiar with the matter.The filing, which comes as the petrochemical company's 60-day creditor protection period expires, provides an additional 90 days to negotiate a final restructuring plan with creditors, according to the report.Approval for the restructuring requires support from at least 50% of creditors plus one, while the filing requires consent from 33% of creditors, Reuters reported, adding that roughly $7 billion of Braskem's debt is held by bondholders who previously objected to its initial proposal to extend maturities and payments.Braskem didn't immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Energy stocks gained Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was falling 1.1%, and the Dow Jones US Utilities Index advanced 0.5%.Crude oil prices rose after the deadline to reach a permanent peace deal with Iran expired. "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Donald Trump posted on his social media platform. "The Hormuz Strait is open and operating. All water mines have been removed or detonated."Meanwhile, Reuters reported, citing Iran's negotiator Mohammad Baqer Qalibaf in state media on Tuesday that Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.4% to $91.20 a barrel. Henry Hub natural gas futures increased 2.4% to $2.75 per 1 million BTU.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported. UGI shares jumped past 11%.Targa Resources (TRGP) said late Monday it has struck new 20-year fee-based, midstream agreements to support ExxonMobil's (XOM) development of its Permian Basin acreage. Targa shares jumped past 7%.Petrobras (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported. Petrobras shares were fractionally lower, and Braskem was down 2.2%.Ecopetrol (EC) has completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, boosting its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol shares eased 0.2%.
Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.7% higher.Front-month US West Texas Intermediate crude oil was 1% higher at $85.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.5% to $91.30 per barrel, and natural gas futures were up 0.4% at $2.70 per 1 million British Thermal Units.Petroleo Brasileiro (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. The company's shares were 0.9% higher premarket.Ecopetrol (EC) completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, strengthening its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol stock was up 0.7% pre-bell.SLB (SLB) has been awarded a contract by Brunei Shell Petroleum to support production restoration from shut-in wells at a number of offshore fields, the company said. SLB shares were 0.2% higher premarket.
Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 0.8% higher at $85.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $91.17 per barrel, and natural gas futures were up 0.7% at $2.71 per 1 million British Thermal Units.Petroleo Brasileiro (PBR), also known as Petrobras, is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. Petrobras shares were 0.9% higher premarket.
Petroleo Brasileiro (PBR), also known as Petrobras, is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported Monday, citing people familiar with the matter.Given the involvement of distressed debt investor IG4 Capital in Braskem, Brazil's Petrobras has greater visibility into Braskem and is mulling extending payment timelines, cutting interest rates and boosting the amount of naphtha it offers Braskem, the people told the news agency.That decision could lower the amount of credit Braskem needs from banks, reducing leverage, Bloomberg reported.Some creditors, including Elliott Investment Management and Contrarian Capital Management, are seeking a financial commitment from Petrobras, with proposals including an equity contribution, working capital or junior debt, according to the report.Petrobras has resisted an equity injection because it could increase its ownership of Braskem and potentially require Petrobras to consolidate the company's debt on its balance sheet, Bloomberg reported.Bloomberg said IG4 declined to comment on the story. Petrobras didn't immediately reply to messages seeking comments.Petrobras, Braskem and IG4 did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Braskem (BAK) and Lallemand Biofuels & Distilled Spirits have launched a new bio-acetone production platform for the corn-ethanol industry, the companies said Tuesday.The technology enables producers to create a new coproduct alongside ethanol, the companies said, adding that the technology is now available in the US following five years of collaborative development and validation.Bio-acetone is an alternative to fossil-based acetone. It can be used in cosmetics, paints and coatings, acrylics, adhesives, and personal care applications, the companies said.Price: $2.38, Change: $-0.06, Percent Change: -2.54%
Braskem (BAK) has an average rating of hold and mean price target of $4.17, according to analysts polled by FactSet.
Brazil's Braskem (BAK), the largest producer of polyolefins in the Americas and major global producer of biopolymers said that its Braskem Trading & Shipping unit has launched a new low-carbon oil tanker, Blooming Future.The ship will transport naphtha to Braskem, operating at an optimized speed to cut fuel consumption and emissions and can carry a cargo equivalent to 35 olympic-sized swimming pools, it said.The vessel incorporates biofuel-ready engines and energy-efficient systems that cut CO2 emissions by 30% versus other Braskem vessels, avoiding around 6,500 tonnes in emissions of the gas each year, its statement said.It is part of a broader fleet expansion program that foresees the operation of four LR1 tankers by early next year.Braskem Trading & Shipping leads in sustainable maritime shipping initiatives such as investment in lower-emissions vessel operations, it said.
Braskem (BAK) shares rose 26% on Tuesday after JPMorgan upgraded the stock to overweight from neutral with a price target of $5.50 per share.Trading volume stood at nearly 7.3 million shares compared with a daily average of close to 2.7 million.Price: $4.80, Change: $+1.00, Percent Change: +26.26%
Braskem (BAK) said it received notice that Novonor and its unit NSP Investimentos entered into a judicial agreement to sell their controlling stake in the petrochemical producer to the IG4-advised Shine I FIP fund, according to a Monday regulatory filing.Under the agreement, Shine I FIP will acquire 226.3 million common shares and 47.3 million class A preferred shares, representing about 50.1% of Braskem's voting capital and 34.3% of its total share capital, the filing said. NSP Investimentos will retain 31.9 million class A preferred shares, equal to about 4% of Braskem's total capital.The transaction remains subject to several conditions, including required judicial approvals, remaining regulatory clearances, and confirmation that Petrobras (PBR) will not exercise its preemptive or tag-along rights under the shareholders' agreement, the filing said.Price: $3.65, Change: $+0.08, Percent Change: +2.10%
