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Stock Market & Financial Investment News

News Breaks
March 4, 2013
12:17 EDTVALE, BHP, JOY, RIO, CLFMining companies fall after China seeks to slow housing market
A number of mining companies are retreating after the Chinese government ordered some municipalities to take steps to slow down the country's housing market. China is the world's largest consumer of copper, iron ore, and coal. The country's cabinet on Friday ordered cities with "excessively fast" growth to raise down payment requirements and interest rates on purchases of second homes, according to Bloomberg. The government also indicated that it would seek to more strictly enforce a law requiring individuals to pay a 20% tax on their profits from selling homes when the selling price is available, the news service added. Separately, Bloomberg reported that China is creating large mining companies that will be able to compete with global mining conglomerates for acquisitions of foreign companies. In early afternoon trading, Cliffs Natural (CLF) sank 5% to $24, Joy Global (JOY) dropped 4% to $59.50, Vale (VALE) gave back 3% to $18, Rio Tinto (RIO) dropped 3% to $50 and BHP Billiton (BHP) lost 1.3% to $73.
News For CLF;JOY;VALE;RIO;BHP From The Last 14 Days
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April 23, 2014
14:07 EDTBHPEarnings Preview: Potash sees Q1 EPS 30c-35c
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April 21, 2014
16:14 EDTCLFCliffs Natural says ready to engage with Casablanca
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14:22 EDTCLFCasablanca urges Cliffs Natural to hold shareholder meeting on or before June 4
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April 17, 2014
07:06 EDTBHPBHP could benefit from rebound not spinoffs amid metal slump, Bloomberg says
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April 15, 2014
18:57 EDTBHPBHP Billiton reports Q3 total petroleum production up 10%
BHP Billiton reported total petroleum production for Q3 was up 10% over the prior year, with production for the nine months ended March 31 totaling 181.3 MMBoe. The company also lowered its FY14 production guidance to 245 MMboe, citing lower gas and natural gas liquids production in the Hawkville area of the Eagle Ford. BHP reported Q3 copper production fell 5%, with total copper production increasing 2% to 1.3 Mt for the nine months ended March 31. BHP reiterated its copper production guidance for FY14 of 1.7 Mt. BHP also reported Q3 iron ore production increased 23%, with production for the nine months ended March 31 growing 21% to 147,387 kt. BHP expects FY14 iron ore production to total 197 Mt.
11:44 EDTBHPPotash Corp. advances after report says BHP could make new bid
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09:16 EDTBHPOn The Fly: Pre-market Movers
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07:46 EDTBHPPotash Corp. speculated to be targeted again by BHP Billiton, Globe & Mail says
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April 14, 2014
18:32 EDTRIORio Tinto reports Q1 iron ore production up 8% to 66.4M tons
Rio Tinto reported Q1 production results, reporting global iron ore production of 66.4M tons, up 8% from the prior year period, with shipments of 66.7M tons. The company maintained its 2014 iron ore production guidance of 295M tons. Rio's mined copper production totaled 156.5K tons, up 17% against the prior year period, and the company maintained its mined copper expectations for 2014 at 570K tons.
April 11, 2014
16:26 EDTJOYJoy Global acquires certain assets of Mining Technologies International
Joy Global announced that it entered into a definitive agreement to purchase certain assets of Mining Technologies International for $51M Canadian dollars. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. The company is acquiring substantially all of the assets associated with MTIís hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. MTI's fiscal 2013 revenues associated with these product lines were approximately $90M U.S. dollars. Excluding the impact of transaction costs and excess purchase accounting charges, the company expects the transaction to be accretive to earnings in 2015. Completion of the transaction is subject to customary closing conditions and is expected to occur within 90 days.
April 10, 2014
08:22 EDTCLFCliffs Natural mentioned cautiously by Seeking Alpha contributor
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07:26 EDTVALECommittee recommends Vale be stripped of Simandou license, WSJ says
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