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NEW YORK (TheStreet) -- Petrobras shares are tumbling 6.45% to $6.82 as the Brazilian state-owned company must pay its government $112 million more in royalties each quarter for oil produced in seven offshore fields, Reuters reports. The decision was made by the International Court of Arbitration in a dispute between Brazil's oil regulator, the ANP, and Petrobras, according to the company. The ... Read News
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Intel (INTC) Stock Falls After AMD's Second Quarter Warning
NEW YORK (TheStreet) -- Shares of Intel were falling 1.3% to $29.66 on heavy trading volume Tuesday after competitor Advanced Micro Devices warned that it will report lower revenue in the second quarter due to weakness in the PC market. AMD said it now expects its second quarter revenue to fall 8% from the first quarter, down from its previous estimate of a 3% decline plus or minus 3%. The ... Read News
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