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Stock Market & Financial Investment News

News Breaks
March 4, 2013
12:17 EDTBHP, JOY, RIO, CLF, VALEMining 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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May 19, 2015
07:16 EDTBHPBHP Billiton downgraded to Reduce from Hold at HSBC
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05:46 EDTRIORio Tinto and Mongolia sign Oyu Tolgoi development and financing plan
The government of Mongolia, Turquoise Hill Resources and Rio Tinto signed the Oyu Tolgoi Underground Mine Development and Financing Plan. The plan addresses the key outstanding shareholder issues and sets out an agreed basis for the funding of the project. With a new pathway to development of the underground mine agreed, the focus now shifts to finalising the project finance, the feasibility study and securing all necessary permits so that the underground mine development can proceed. he construction of the first phase of the pioneering Oyu Tolgoi project the open-pit mine was completed on schedule in less than 24 months. The operation celebrated one million tonnes of copper concentrate shipped in March 2015, less than two years after the first production left the mine. Oyu Tolgoi has a workforce that is 95 per cent Mongolian and Oyu Tolgoi LLC has paid $1.3 billion in taxes, fees and other payments to date. Reference Link
May 18, 2015
06:03 EDTVALEVale implied volatility of 62 at upper end of index
May 17, 2015
17:33 EDTRIORio Tinto seeks buyer for Pacific Aluminum, FT says
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May 15, 2015
06:20 EDTBHPBHP Billiton spinoff hard to value, WSJ reports
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May 14, 2015
08:50 EDTBHPBHP sees iron ore pricing to remain pressured, Reuters reports
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08:42 EDTBHPBofA/Merrill Euro metals/mining analyst holds analyst/industry conference call
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May 13, 2015
10:01 EDTVALEOn The Fly: Analyst Downgrade Summary
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06:20 EDTVALEVale downgraded to Neutral from Outperform at Macquarie
06:09 EDTVALEVale implied volatility of 65 at upper end of index
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May 12, 2015
06:54 EDTRIORio Tinto unit sees potential aluminum market deficit this year, Reuters reports
Rio Tinto Alcan sees a possible aluminum market deficit this year, Reuters reports, citing comments made by Rio Tinto Alcan CEO Alf Barios at the CRU Aluminum industry conference. Barios said he sees price volatility continuing in the short term, and sees inventory levels by 2020 declining to nine weeks from the current 12 weeks. Reference Link
05:57 EDTRIORio Tinto to cut up to 170 jobs in Montreal, Globe and Mail reports
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May 11, 2015
10:14 EDTJOYAnalyst says buy Caterpillar, Joy Global before mining bottoms
The shares of Joy Global (JOY) and Caterpillar (CAT) are climbing after research firm Baird analyst Mircea Dobre upgraded both names, citing a potential bottom in commodity prices. Both companies develop mining equipment. WHAT'S NEW: In a note to investors earlier today, Baird's Dobre upgraded Joy Global and Caterpillar to Outperform from Market Perform. There are signs that the worst of the downturn in commodity prices may have passed, the analyst stated. Additionally, the shares of both Caterpillar and Joy Global historically bottom three to five quarters before mining equipment shipments rebound, according to Dobre. Consequently, investors who wait for evidence of a turnaround in the companies' mining equipment bookings may be late to the party, the analyst warned. Both stocks have now underperformed the market by amounts that are similar to their worst underperfomance during the early 1980s commodity bust, according to Dobre, who raised the price target on Caterpillar to $101 from $80 and on Joy Global to $62 from $45. PRICE ACTION: In early trading, Joy Global climbed nearly 4% to $43.64 and Caterpillar rose 1.5% to $88.60.
09:59 EDTJOYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcatel-Lucent (ALU) upgraded to Outperform from Neutral at Exane BNP Paribas... Caterpillar (CAT) upgraded to Outperform at Baird... Cisco (CSCO) upgraded to Outperform with $36 target at Pacific Crest... Evolution Petroleum (EPM) upgraded to Outperform from Market Perform at Northland... Hecla Mining (HL) upgraded on hedging discipline at Roth Capital... Joy Global (JOY) upgraded to Outperform from Neutral at Baird... Monster Beverage (MNST) upgraded to Buy from Neutral at Citigroup... Nokia (NOK) upgraded to Outperform from Neutral at Exane BNP Paribas... On Deck Capital (ONDK) upgraded to Neutral from Sell at Sterne Agee CRT... Royal Caribbean (RCL) upgraded to Outperform from Neutral at Wedbush... SMC (SMECF) upgraded to Buy from Neutral at Goldman... Sally Beauty (SBH) upgraded to Outperform from Market Perform at Raymond James... Southwestern Energy (SWN) upgraded to Overweight from Equal Weight at Barclays... Sprouts Farmers Markets (SFM) upgraded to Outperform at BMO Capital... Suburban Propane (SPH) upgraded on positive outlook at Stifel... Suffolk Bancorp (SUBK) upgraded to Outperform from Market Perform at Keefe Bruyette... Syngenta (SYT) upgraded to Buy from Neutral at UBS... Triumph Group (TGI) upgraded to Outperform from Sector Perform at RBC Capital... United Natural Foods (UNFI) upgraded to Overweight from Equal Weight at Stephens... Web.com (WWWW) upgraded to Buy from Hold at Deutsche Bank... Zillow Group (Z) upgraded to Buy from Neutral at SunTrust.
09:01 EDTJOYJoy Global upgraded to Outperform at Baird
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06:23 EDTJOYJoy Global upgraded to Outperform from Neutral at Baird
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06:12 EDTVALEVale implied volatility of 68 at upper end of index
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05:55 EDTRIORio Tinto expects copper prices to recover faster, Financial Times reports
Rio Tinto expects global cooper prices to recover fsater than expected due to demand outstrippling supply within two years rather than three to four, reports the Financial Times. The company's head of copper Jean-Sebastien Jacques said decisions by the industry to slow copper production in response to weak prices meant the market could become balanced this year. Reference Link
May 8, 2015
16:05 EDTVALEOptions Update; May 8, 2015
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12:09 EDTVALEStocks with call strike movement; YELP VALE
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