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Why Petrobras Stock Dropped This Morning

Why Petrobras Stock Dropped This Morning

Shares of Brazilian oil company Petroleo Brasileiro (NYSE: PBR) (NYSE: PBR.A) slipped somewhat this morning after investment bank UBS flipped 180 degrees from buy to sell on the oil stock. The amount of the decline is in some dispute, with Google Finance clocking an 18% fall on PBR shares from a closing price of $11.40 per share last night, while Yahoo! Finance says it closed at only $10.10 per share and is down only 4%.