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Stock Market & Financial Investment News

News Breaks
April 9, 2014
09:25 EDTCAT, CAT, CAT, JOY, JOY, JOY, SDVKY, SDVKY, SDVKY, MXCYY, MXCYY, MXCYY, BHP, BHP, BHP, RIO, RIO, RIOBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
Industrial and Mining Analysts, along with Paul Moore, Editor of International Mining, hold a highly relevant discussion for investors focused on stocks like CAT, JOY, SDVKY, MXCYY, BHP,, RIO. Alternative technologies in the mining equipment industry, mining software developments and OEMs best-positioned to benefit from key technological trends will be the focus of the Analyst/Industry conference call to be held on April 10 at 10 am.
News For CAT;JOY;SDVKY;MXCYY;BHP;RIO From The Last 14 Days
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August 27, 2015
13:46 EDTCATCaterpillar planst to lay off 475 more employees, Reuters reports
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10:33 EDTBHP, RIOFreeport McMoRan surges after further cut to capital spending plans
Shares of Freeport-McMoRan (FCX) are surging in morning trading after the company announced plans to cut spending and production in response to current market conditions. It also plans to cut about 10% of employees and contractors at U.S. mining operations. WHAT'S NEW: Freeport-McMoRan this morning reduced its 2016 capital expenditure budget to $4B, approximately 29% lower than the $5.6B estimate on July 23, which it said reflects "aggressive" actions in response to current market conditions. The 2016 CapEx outlook includes $1.4B in mining projects, $600M in mining sustaining capital and $2B in oil and gas expenditures. The company said it will reduce copper sales by about 150M pounds per year in 2016 and 2017 and cut 2016 unit site production by 20%. Additionally, the company plans to reduce 2016 minerals exploration costs to $50M from $100M. Freeport also said it expects a 10% reduction in employees and contractors at U.S. mining operations. The company cited recent declines in copper prices for the reductions and said the actions announced today are the results of the previously announced review of operating plans for its mining business. Freeport said it views the long-term outlook for its business "positively," helped by limitations on copper supply. In the near-term, however, Freeport said it will continue to monitor market conditions and capital spending, but is currently "adjusting operations to maximize current cash flow under weak market conditions while preserving its large mineral resources and growth options for the longer term." WHAT'S NOTABLE: Since late 2014, Freeport has cut its 2015 capital expenditure budget to $6.3B from $7.5B, including reductions of $700M in oil and gas expenditures and $500M in mining expenditures. Earlier this month, Freeport cuts its oil and gas capital budgets for 2016 and 2017 by $900M each in response to market conditions and maintained its expectations for $2.8B in O&G CapEx for this year. In July, after reporting its second straight quarterly loss, Freeport said its cost reduction plans would include potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for anticipated improved market conditions in the future. Freeport previously commented that it would pursue additional capital cost reductions, potential additional divestitures or monetizations and other actions as required to maintain a strong balance sheet while preserving a strong resource position. PRICE ACTION: Freeport-McMoRan is up 16.5% to $9.22 in morning trading. Shares are down over 60% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
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07:54 EDTBHPBHP Billiton upgraded to Neutral from Underperform at Exane BNP Paribas
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August 26, 2015
10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
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08:16 EDTBHPBHP Billiton upgraded at RBC Capital
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07:08 EDTBHPBHP Billiton upgraded to Sector Perform from Underperform at RBC Capital
August 25, 2015
12:17 EDTBHPBHP Billiton technical comments ahead of earnings
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09:26 EDTBHPBHP Billiton sees FY16, FY17 capex to decline from $11B in FY15
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09:24 EDTBHPBHP Billiton says commitment to the progressive dividend unchanged
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09:23 EDTBHPBHP Billiton reports FY15 net profit down 86.2% to $1.91B
Reports FY15 revenue from continuing operations down 21.4% to $44.64B. Reports final dividend for current period of 62c, with a record date of September 11 and payment date of September 29.
August 24, 2015
09:26 EDTCATCaterpillar set to open near 4-year lows
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August 21, 2015
16:02 EDTJOYJoy Global COO Randal Baker to depart company
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13:02 EDTCATChanos says heavy equipment companies 'have the wind in their face'
Jim Chanos of Kynikos Associates said on CNBC that the companies selling heavy equipment will "have the wind in their face" for years as inventory is worked though. Chanos added that he remains short shares of Caterpillar (CAT), pointing out the company acquired Bucyrus at the top of the market. Peers of Caterpillar include Deere (DE) and AGCO (AGCO).
12:56 EDTCATChanos says still short shares of Caterpillar
Jim Chanos of Kynikos Associates said on CNBC .
10:02 EDTJOY, RIOOn The Fly: Analyst Initiation Summary
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08:26 EDTJOYJoy Global initiated with a Buy at Axiom
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08:19 EDTRIORio Tinto initiated with a Neutral at Axiom
August 19, 2015
06:45 EDTRIOGlencore's second merger attempt with Rio Tinto less likely, AFR reports
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August 17, 2015
07:40 EDTCATUBS to hold a tour
Midwest Construction & Farm Tour travels throughout Illinois and Iowa on August 17-18.
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