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Stock Market & Financial Investment News

News Breaks
February 17, 2014
21:49 EDTBHPBHP Billiton reports 1H attributable profit $8.11B vs.$4.43B last year
Reports 1H revenue $33.948B vs. $32.066B last year. The company added that the commitment it made 18 months ago to deliver more from existing infrastructure at a lower unit cost is delivering "tangible" results with annualized productivity led volume and cost efficiencies totaling US$4.9B now embedded.
News For BHP From The Last 14 Days
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September 2, 2014
11:43 EDTBHPAnglo American open to takeover proposals, CEO says, WSJ reports
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10:46 EDTBHPAnglo American CEO sees iron-ore prices under pressure, WSJ says
The CEO of miner Anglo American (AAUKY) Mark Cutifani said he is worried about the outlook for iron-ore, says the Wall Street Journal. In spite of concerns about an iron-ore glut, the company intends to press on with the Minas-Rio iron-ore project in Brazil , added the Wall Street Journal. Publicly traded companies in the space include Vale (VALE),Cliffs Natural Resources (CLF), Rio Tinto (RIO), and BHP Billiton (BHP). Reference Link
07:10 EDTBHPBHP assures break-up does not amount to South Africa exit, FT says
BHP Billiton will drastically cut its presence in South Africa as part of its previously announced spin-off strategy, but since announcing the demerger BHP has pledged that its spin-off company will have a mandate to grow in there and while the new company will be based in Australia with an Australian stock market listing, it also plans a secondary listing in Johannesburg, reported Financial Times. Reference Link
August 20, 2014
10:04 EDTBHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.
05:20 EDTBHPBHP Billiton downgraded to Underperform from Neutral at Credit Suisse
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August 19, 2014
15:22 EDTBHPBHP Billiton downgraded to Underperform from Neutral at Credit Suisse
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09:07 EDTBHPOn The Fly: Pre-market Movers
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06:16 EDTBHPBHP Billiton says continues to review Nickel West, smaller assets
BHP Billiton said continues to review Nickel West, New Mexico Coal and its smaller petroleum assets. "Each of these assets is subject to its own study and the Group will only pursue options that maximise value for its shareholders," BHP stated.
06:04 EDTBHPBHP says CFO Graham Kerr to be CEO of new company
BHP Billiton announced a series of changes to the senior management of the company. Graham Kerr, currently CFO is appointed CEO designate of the new company that BHP Billiton plans to form in a demerger. Graham will retire from the Group Management Committee on October 1 and will be replaced as CFO by Peter Beaven, currently President, Copper. Brendan Harris, currently Head of Group Investor Relations, has been appointed CFO designate of the new company. BHP said an announcement relating to Beaven's replacement as President Copper will be made in due course. In the interim Edgar Basto, currently Asset President Escondida, will act in the capacity of President, Copper and, following the appointment of a permanent replacement, will take up a new role within BHP Billiton.
05:59 EDTBHPBHP Billiton to create independent metals and mining company
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05:57 EDTBHPBHP Billiton reports FY14 underlying profit $13.45B vs. $12.21B last year
BHP said capital and exploration expenditure is expected to decline to $14.5Bin the 2015 financial year and be no more than $14B should the proposed demerger be implemented. "By maintaining an internal focus and concentrating investment in our major basins we believe an average rate of return of greater than 20% is achievable for our favoured development options," the company said. It added, "With robust volume growth and further productivity gains expected, we remain confident in the outlook for the Group. On this basis, we increased our full-year progressive base dividend by 4% to 121 US cents per share for an Underlying payout ratio of 48%. We will seek to steadily increase or at least maintain the dividend per share in US dollar terms at each half-yearly payment following the demerger, implying a higher payout ratio."

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