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Stock Market & Financial Investment News

News Breaks
January 30, 2013
06:13 EDTGLNCY, AAUKY, BHP, RIO, XSRAY, VALEMining, steel firms face $50B in write downs for takeovers, Bloomberg reports
Major mining and steel companies worldwide have wiped about $50B off project valuations in the past year and that's expected to continue this earnings season as managers review expensive takeovers, reports Bloomberg Anglo American (AAUKY), Vale (VALE) and Rio Tinto (RIO) led the write downs. Glencore International (GLNCY) may write down some nickel and copper assets acquired through its takeover of Xstrata (XSRAY), Liberum Capital has said. BHP Billiton (BHP) may reduce aluminum operation valuations, according to Goldman Sachs Group and Sanford C. Bernstein. Reference Link
News For AAUKY;VALE;RIO;GLNCY;XSRAY;BHP From The Last 14 Days
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December 18, 2014
06:52 EDTVALE, RIOVale attempt to dismiss Rio Tinto suit rejected, WSJ says
Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link
December 15, 2014
09:31 EDTRIO, BHPRio, BHP looking to raise copper output, Reuters says
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08:34 EDTBHPBHP Billiton downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded BHP Billiton as the firm believes that the outlook for the company's cash flow metrics is weaker than its peers. The firm questions the timing of the company's South32 spin off and Four Pillars initiative, given potential structural issues affecting iron ore and oil.
07:41 EDTAAUKYAnglo American shares look cheap, says Bernstein
Bernstein says that it is puzzled by the recent weakness in Anglo American's stock, as the negative news from the company's Congo Mineral Developments mine were not new, while all the new developments involving the mine were positive, according to the firm. The firm thinks the company's performance is improving, while its stock looks cheap. Bernstein reiterates an Outperform rating on the shares.
07:36 EDTRIORio Tinto shares look undervalued, says Bernstein
After iron ore prices sank 48% this year, Bernstein thinks that Rio Tinto would be resilient even if iron ore prices dropped much further. The firm believes that the market is applying a significant discount to the stock, making the shares undervalued. It has a $63.20 price target and Outperform rating on the shares.
December 11, 2014
10:13 EDTAAUKYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARIAD (ARIA) downgraded at Credit Suisse... AbbVie (ABBV) downgraded to Equal Weight from Overweight at Morgan Stanley... Aimco (AIV) downgraded to Hold from Buy at KeyBanc... Anglo American (AAUKY) downgraded to Underperform from Neutral at Exane BNP Paribas... Approach Resources (AREX) downgraded at Sterne Agee... CommVault (CVLT) downgraded to Neutral from Outperform at Macquarie... Fifth Street Senior (FSFR) downgraded to Perform from Outperform at Oppenheimer... Harmonic (HLIT) downgraded to Neutral from Buy at Sidoti... Macerich (MAC) downgraded to Hold from Buy at Deutsche Bank... Newell Rubbermaid (NWL) downgraded to Outperform from Strong Buy at Raymond James... Olin Corp. (OLN) downgraded at Longbow... Penn West (PWE) downgraded to Underperform from Neutral at BofA/Merrill... Prudential plc (PUK) downgraded to Neutral from Buy at Nomura... Semiconductor Manufacturing (SMI) downgraded to Hold from Buy at Jefferies... Suncor (SU) downgraded to Neutral from Buy at BofA/Merrill... Talisman Energy (TLM) downgraded to Underperform from Neutral at BofA/Merrill... Thompson Creek (TC) downgraded to Hold from Buy at Deutsche Bank... Toll Brothers (TOL) downgraded to Underperform from Sector Perform at RBC Capital... Travelers (TRV) downgraded to Neutral from Buy at UBS... United Therapeutics (UTHR) downgraded at Credit Suisse... Vera Bradley (VRA) downgraded to Underperform from Neutral at Sterne Agee.
08:16 EDTBHPBHP sees potash as focus for growth in China, WSJ reports
Mining giant BHP Billiton said it is focusing on potash as an area of strategic growth in China, with Mike Henry, a president for BHP saying potash "can be our fifth pillar, adding to the four key markets of iron ore, oil and natural gas, copper and coal that the company had identified previously, reported The Wall Street Journal. Other publicly traded companies in the potash space include Agrium (AGU), Intrepid Potash (IPI), Mosaic (MOS), Potash (POT). Reference Link
05:46 EDTAAUKYAnglo American downgraded to Underperform from Neutral at Exane BNP Paribas
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December 10, 2014
15:08 EDTBHPFollow-up: BHP Billiton upgraded at CLSA
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15:05 EDTBHP, BHPBHP Billiton upgraded to Buy from Outperform at CLSA
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December 8, 2014
12:30 EDTAAUKYAnglo American to host investor day
Investor Day to be held in London on December 9 at 8:30 am.
06:11 EDTBHPBHP Billiton says new company to be called South32
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