Stocks In The News: ConocoPhillips (NYSE:COP), Novo Nordisk A/S (ADR)(NYSE:NVO), Momo Inc (ADR)(NASDAQ:MOMO)

On Thursday, Shares of ConocoPhillips (NYSE:COP), added 1.39% and closed at $44.52 in the last trading session. The last trading range of the stock ranges between $43.53 and $44.56. Auxiliaries of U.S. oil company ConocoPhillips have sued Venezuelan state oil company PDVSA in a Delaware court, according to a court filing, accusing it of fraudulent operations involving its U.S. partner Citgo.

ConocoPhillips said PDVSA operations, counting an ongoing bond swap that uses shares in Citgo Holding Inc as collateral, are part of an effort to prevent Conoco from collecting compensation in a dispute over a 2007 nationalization of its Venezuela holdings.

ConocoPhillips has for nearly a decade been pursuing a case against Venezuela in a World Bank tribunal to obtain billions of dollars in compensation for the 2007 takeover of its Venezuela assets by late socialist leader Hugo Chavez.

The tribunal known as ICSID in a partial ruling in 2013 said that takeover was illegal.

The U.S. company in an Oct. 6 filing cited numerous operations involving Citgo, counting an attempt to sell it in 2014, a debt offering that financed dividend payments to PDVSA, and most recently a bond swap operation that uses Citgo Holding as collateral.

“The purpose behind each of these transfers is the same: to remove assets from the United States to Venezuela and/or to encumber assets in the United States, with the intent to hinder, delay or defraud PDVSA’s and Venezuela’s arbitration award creditors, counting ConocoPhillips,” it said in the document. Source Reuter

Novo Nordisk A/S (ADR)(NYSE:NVO), dropped -1.59% and closed at $40.86 in the last trading session. The last trading range of the stock ranges between $40.60 and $41.24. The company’s Market capitalization is $84.62 Billion with the total Outstanding Shares of 1.96 Billion. Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity Care, and Biopharmaceuticals. The Diabetes and Obesity Care segment provides insulins, GLP-1 analog, obesity, and oral antidiabetic drugs, in addition to other protein related products comprising glucagon, protein related delivery systems, and needles. The Biopharmaceuticals segment offers products in the areas of haemophilia care, growth hormone therapy, and hormone replacement therapy. The company markets and distributes its products through distributors and independent agents in North America, Europe, Japan and South Korea, China, Hong Kong, Taiwan, and other countries.

Momo Inc (ADR)(NASDAQ:MOMO), lost -1.77% and closed at $24.41 in the last trading session. The last trading range of the stock ranges between $23.75 and $25.27. During the 52-week trading session the minimum price at which share price traded, registered at $6.72 and reached to max level of $26.24. Momo Inc. operates as a mobile-based social networking platform in the People’s Republic of China. The company’s platform includes its Momo mobile application and various related features, functionalities, tools, and services that are offered to users, customers, and platform partners. Its Momo mobile application facilitates users to establish and expand their social relationships based on locations and interests. The company also offers games, which are designed with various themes, cultural characteristics, and features to appeal to various segments of the game player community; paid emoticons and mobile marketing services; and live music and entertainment broadcasting services. The company was formerly known as Momo Technology Company Limited and changed its name to Momo Inc. in July 2014.


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