Stocks Faring Away From Broker’s Choice: Whiting Petroleum (NYSE:WLL), Ball Corporation (NYSE:BLL)

Several matter pinch shares of Whiting Petroleum Corporation (NYSE:WLL) [Trend Analysis], as shares plunging -0.33% to $12.10 with a share volume of 28.52 Million. Whiting Petroleum Corp. (WLL) revealed that it gave notice to mandatorily convert $716.8 million of its outstanding mandatory convertible notes into shares of Whiting common stock on December 19, 2016.Prior to such notice, holders of $4.2 million of outstanding mandatory convertible notes had voluntarily converted such notes into shares of Whiting common stock.

As a result of the mandatory conversion and the voluntary conversions, the company will have issued about 77.6 million shares of its common stock to retire all of the $721.0 million of mandatory convertible senior notes and mandatory convertible senior subordinated notes. The stock is going forward its 52-week low with 261.19% and moving down from its 52-week high price with -16.20%. To have technical analysis views, liquidity ratio of a company was calculated 0.70 as evaluated with its debt to equity ratio of 0.89. The float short ratio was 23.79%, as compared to sentiment indicator; Short Ratio was 2.69.

Ball Corporation (NYSE:BLL) [Trend Analysis] luring active investment momentum, shares a decrease -0.69% to $76.31. Ball Corporation (BLL) reported that it intends to cease production at the company’s Reidsville, North Carolina, beverage packaging plant in mid-2017. The plant’s consumers will be supplied by other Ball facilities in the U.S.Ball expects to record an after-tax charge of approximately $18 million, primarily for employee severance, pensions and other benefits, asset impairments, and facility shut down and disposal costs.

The majority of this charge is expected to be recorded by mid-2017 and the net, after-tax cash costs are expected to be approximately $5 million. The total volume of 1.21 Million shares held in the session was surprisingly higher than its average volume of 1287.78 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -39.60%, and looking further price to next year’s EPS is 24.22%. While take a short look on price to sales ratio, that was 1.57 and price to earning ratio of 41.81 attracting passive investors.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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