Mechel OAO (NYSE:MTL) down by 3.41%, Generex Biotechnology Corporation (OTCMKTS:GNBT)

Posted by George Brook May 16, 2013 0 Comment 933 views


Miami, FL 05/16/2013 (GDPInsider) –Mechel OAO (NYSE:MTL): Wednesday’s trading session saw Mechel OAO (NYSE:MTL) climbing down by 3.41%. It opened at a price of $3.72 which touched an intraday high of $3.75, before moving down to close at $3.68 per share. Around 2.86 million shares exchanged hands in the previous trading session, which stood above the average volume of 2.58 million, measured over a 30-day period.

On 13 May the company said that it has seen improvement in market conditions, specifically for metallurgical coal in the North American and Asian regions. Mechel OAO (NYSE:MTL) reported that coking sales rose by 13% in the quarter. There was a 19% rise in anthracite and a 14% rise in sales of pulverized coal sales. The company saw an 8% drop in coal output and a 9% drop in steel output in the quarter. Coal production dropped due to the season-related weather conditions at its open-pit mines. The steel production was low in response to general weakness in the market.

Mechel OAO (NYSE:MTL) is integrated mining and steel company based in Russia. It is focused on producing mining products such as iron ore, coal, nickel as well as steel products. The Steel segment produces and sells specialty and carbon long products, and value-added downstream metal products and semi-finished steel products, stainless flat products, include stampings and hardware.

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Generex Biotechnology Corporation (OTCMKTS:GNBT): Wednesday’s trading session saw Generex Biotechnology Corporation (OTCMKTS:GNBT) climbing down by 0.37%. It opened at a price of $0.03 which was also the intraday high and the closing price was $0.026. Around 1.06 million shares exchanged hands in the previous trading session, which stood below the average volume of 1.10 million, measured over a 30-day period.

A Canada-based Company, Generex Biotechnology Corporation (OTCMKTS:GNBT) is involved in the development of technologies and drug delivery systems for diabetes treatment. It has developed a proprietary-platform technology that is used in the delivery of drugs into the human body via the oral cavity. Generex Oral-lyn, its buccal insulin spray product, is in Phase III clinical trials at various sites across the world. Generex Biotechnology Corporation’s proprietary liquid formulations permits drugs that are generally administered via injection, to be absorbed by the body through the inner-lining of the mouth with the use of RapidMist, the Company’s proprietary device.

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About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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