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Stock Market & Financial Investment News

News Breaks
April 28, 2014
09:28 EDTABX, NEMNewmont Mining releases letter sent to Barrick board
In response to the press release issued this morning by Barrick Gold Corporation (ABX), Newmont Mining Corporation (NEM) released the following letter it sent last week to the Board of Directors of Barrick: "Over the past number of months, our two companies have been working hard to find a basis on which we could merge and realize their combined strengths. While we were hopeful that we could achieve that goal, it has become evident to us over the past several weeks that the type of constructive, mutually respectful and partnership-oriented relationship necessary to realize the potential benefits of that combination does not yet exist. Our Board has met a number of times since we were twice told definitively last Thursday by your Co-Chairman that the process in which we had been engaged to find a basis to merge our two companies was “dead”. As you would expect, that unilateral declaration made us question whether we actually shared the vision and values that are necessary to forge a successful new company. Notwithstanding that, we persevered. While our team has found your management team’s engagement to be constructive and professional, the same constructive nature cannot be said of our discussions with your Co-Chairman on certain fundamental strategic and structural issues over the past two weeks. Our efforts to find consensus have been rejected out of hand repeatedly. And, as we contemplated further dialogue, we read in the continuing reporting of the transaction in the financial press a pointed characterization of our company as 'extremely bureaucratic and not shareholder-friendly.' Nothing could be further from the truth. Moreover, none of this suggests that we have the mutual respect or shared values today that we believe are necessary for the enterprise that would result from the combination of our companies to realize its full potential. It is, in fact, because of our deep commitment to our shareholders that we reluctantly have had to unanimously conclude that we need to put aside our attempts to resuscitate this initiative and should pursue our course as an independent company."
News For ABX;NEM From The Last 14 Days
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July 25, 2014
10:02 EDTABXOn The Fly: Analyst Downgrade Summary
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08:27 EDTABXBarrick Gold downgraded to Underweight from Neutral at HSBC
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July 22, 2014
06:48 EDTABXInvestors cautious after Barrick leadership shakeup, Reuters says
Barrick Gold shareholders are reacting cautiously to the firm's recent management shakeup due to concerns that they might be given the cold shoulder by an imperious leadership, according to Reuters, citing comments from company spokesman Andy Lloyd. Barrick CEO Jamie Sokalsky will be replaced by two co-presidents after he leaves in September. Reference Link
July 18, 2014
15:18 EDTNEM, ABXGoldcorp showed interest in Newmont Ghana mines, Bloomberg says
Goldcorp (GG) showed interest in potentially buying gold mines in Africa from Newmont Mining (NEM) while the latter was in merger talks with Barrick Gold (ABX) earlier this year, said Bloomberg, citing people familiar with the situation. Reference Link
14:53 EDTABX, NEMGoldcorp showed interest in Newmont Mining assets in Africa, Bloomberg says
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July 16, 2014
09:37 EDTABXActive equity options trading on open
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09:30 EDTABXBarrick Gold CEO Jamie Sokalsky to step down in launch of new executive team
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July 15, 2014
16:00 EDTABXOptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
July 13, 2014
12:13 EDTABXBarrick partners with Ma'aden to form Jabal Sayid JV
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