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Stock Market & Financial Investment News

News Breaks
January 29, 2013
10:30 EDTAAUKYAnglo American confirms Mina-Rio capex; records $4B impairment
Anglo American has completed the detailed cost and schedule review of its Minas-Rio iron ore project in Brazil announced in November. Following its Novembers guidance and the completion of the review, capital expenditure for the Minas-Rio project is projected to increase to $8.8B, if a centrally held risk contingency of $600M is utilised in full. On the basis of the revised capital expenditure requirements and its assessment of the full potential of phase one of the project (excluding at this stage the potential for future expansions to 90 mtpa), Anglo American will record an impairment charge of $4B at 31 December 2012 on a post-tax basis. Despite the challenges the Minas-Rio project has faced, Anglo American is targeting first ore on ship, FOOS, by the end of 2014. Reference Link
News For AAUKY From The Last 14 Days
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July 31, 2015
10:02 EDTAAUKYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ACE Limited (ACE) upgraded to Outperform at Bernstein on Chubb deal potential... Aixtron (AIXG) upgraded to Outperform from Neutral at Exane BNP Paribas... Anglo American (AAUKY) upgraded to Neutral from Underperform at Exane BNP Paribas... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... Autoliv (ALV) upgraded to Outperform from Neutral at Credit Suisse... Barrick Gold (ABX) upgraded to Hold from Sell at Canaccord... California Water Service (CWT) upgraded to Buy from Neutral at Hilliard Lyons... Calpine (CPN) upgraded to Buy from Hold at Evercore ISI... CenturyLink (CTL) upgraded to Hold from Underperform at Jefferies... China Unicom (CHU) upgraded to Hold from Reduce at HSBC... Chubb (CB) upgraded to Outperform from Market Perform at Bernstein... Delphi (DLPH) upgraded to Buy from Outperform at CLSA... Diebold (DBD) upgraded to Outperform from Neutral at Wedbush... Discovery (DISCA) upgraded to Neutral from Sell at UBS... Eldorado Gold (EGO) upgraded to Buy at Canaccord... GoPro (GPRO) upgraded to Buy with $90 price target at Citi... Guidance Software (GUID) upgraded to Buy from Hold at Gabelli... H&E Equipment (HEES) upgraded to Buy from Neutral at UBS... Integra LifeSciences (IART) upgraded to Overweight from Neutral at JPMorgan... Lenovo (LNVGY) upgraded to Hold from Underperform at Jefferies... Methanex (MEOH) upgraded to Buy from Hold at TD Securities... Molina Healthcare (MOH) upgraded on strong results at Stifel... NCI, Inc. (NCIT) upgraded to Outperform from Market Perform at Cowen... Nationstar (NSM) upgraded to Market Perform from Underperform at FBR Capital... NetScout (NTCT) upgraded at Sterne Agee CRT... Pacira (PCRX) upgraded to Neutral from Underperform at BofA/Merrill... Premiere Global (PGI) upgraded to Strong Buy from Outperform at Raymond James... Regal Entertainment (RGC) upgraded to Outperform from Neutral at Wedbush... ResMed (RMD) upgraded to Overweight from Equal Weight at Morgan Stanley... RingCentral (RNG) upgraded to Strong Buy from Outperform at Raymond James... Robert Half (RHI) upgraded to Buy from Hold at Jefferies... SkyWest (SKYW) upgraded to Buy from Hold at Evercore ISI... Stratasys (SSYS) upgraded to Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Buy from Hold at Argus... Western Union (WU) upgraded to Equal Weight from Underweight at Barclays... Yahoo Japan (YAHOY) upgraded to Buy from Hold at Jefferies... eHealth (EHTH) upgraded to Neutral from Underperform at BofA/Merrill.
05:25 EDTAAUKYAnglo American upgraded to Neutral from Underperform at Exane BNP Paribas
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July 24, 2015
06:05 EDTAAUKYAnglo American to cut 35% of workforce over next few years
The company says, "Having defined our portfolio and significantly improved operational performance, now is the right time to accelerate the right-sizing of the organization that supports the future business; we are targeting a $500M total cost saving, of which $300M will be realised from our ongoing core business, through the reduction of 6,000 overhead and other indirect roles, a 46% decrease, including those that will transfer with the businesses we are divesting. Post asset sales, we expect to have reduced our number of assets from 55 to 40 and reduced total employees by 35%, while maintaining copper equivalent production. As a result, and following the asset disposals and further business improvement, our underlying EBITDA margin of 25% in the first half of 2015 would increase to 35% on a like for like basis, representing a 40% improvement off a substantially lower cost base." Looking to the balance of this year and into next, the company expects that the current period of volatile markets and economic uncertainty, fueled in part by pockets of geopolitical tension, to continue.

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