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Stock Market & Financial Investment News

News Breaks
April 18, 2012
16:36 EDTIBM, YPF, RIO, IVN, SXCI, CHSI, CHK, BRK.B, BRK.A, INTC, GNWOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as earnings, particularly from the technology sector, disappointed. Stock futures were lower following yesterday’s big advance but closed the pre-market trading session just slightly below fair value. There were no economic numbers released before the open so investors focused on the earnings reports from companies including IBM (IBM) and Intel (INTC). The market opened at its session highs and quickly moved lower by roughly 0.5%, where it sat for several hours. The market selling then picked up in the afternoon, with the indices hitting session lows and struggling the rest of the day... ECONOMIC EVENTS: In the U.S., crude oil inventories grew more than expected, while gasoline and distillates inventories shrank more than analyst forecast. In Europe, investors are anxious to see what emerges from Spain's auction of two-year notes and 10-year debt, which occurs tomorrow... NEWS: Reuters reported that the CEO of Chesapeake Energy (CHK) took out as much as $1.1B in unreported loans in the last three years, raising the possibility of conflicts of interest. Chesapeake’s stock price fell 5.54% throughout the day, ending at $18.06... Berkshire Hathaway’s (BRK.A;BRK.B) Warren Buffett was diagnosed with treatable stage one prostate cancer. Berkshire’s stock price fell slightly on the news, ending the day down 1.29% at $119,750... MAJOR MOVERS: Among the notable gainers were Catalyst Health Solutions (CHSI), skyrocketing 34.14%, to $85.23, after it was acquired in a merger with SXC Health Solutions (SXCI), and Ivanhoe (IVN), up 15.99%, to $13.64, after CEO Robert Friedland resigned in a sweeping agreement with majority shareholder Rio Tinto (RIO) that involved funding for the massive Oyu Tolgoi copper-gold mining project in Mongolia. Noteworthy losers included YPF (YPF), which resumed trading after being halted and continued to plummet, down 32.72%, to $13.12, following the Argentine government’s nationalization of the company, and Genworth Financial (GNW), down 23.77%, to $5.87, after the company decided to postpone its IPO of its Australian unit backing home loans to early 2013 after “elevated” losses in the country this year... INDICES: The Dow lost 82.79 points, or 0.63%, to 13,032.75; the Nasdaq fell 11.37 points, or 0.37%, to 3,031.45; and the S&P 500 dropped 5.64 points, or 0.41%, to 1,385.14.
News For B;CHK;CHSI;SXCI;IVN;RIO;YPF;GNW From The Last 14 Days
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July 29, 2014
08:18 EDTCHKChesapeake sees Q2 realized NGL price ex-items $21.03 per barrel
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08:12 EDTCHKChesapeake agrees to repurchase all outstanding preferred shares of CHK Utica
Chesapeake also announced that it has agreed in principle to repurchase all of the outstanding preferred shares of its unrestricted subsidiary, CHK Utica from third-party preferred shareholders. Under the agreement, Chesapeake will pay approximately $1.26B to repurchase 1,060,000 preferred shares of CHK Utica. The proposed transaction, which is expected to close today, will retire Chesapeake’s highest cost leverage instrument and eliminate approximately $75M in annual cash dividend payments to third-party preferred shareholders. Chesapeake plans to fund the cash portion of the RKI acreage exchange and the repurchase of the CHK Utica preferred shares with available liquidity, including nearly $1.5B of unrestricted cash held on its balance sheet as of June 30. Chesapeake continues to refine its portfolio to focus on assets that best align with the company’s strategy of profitable growth from captured resources and expects to close additional sales of noncore assets, including non-E&P assets, by the end of 2014.
08:11 EDTCHKChesapeake announces exchange agreement with RKI Exploration
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06:49 EDTBBarnes Group removed from short-term buy list at Deutsche Bank
Deutsche Bank removed Barnes Group from the short-term buy list due to the weak earnings report.
06:35 EDTBBarnes Group downgraded to Hold from Buy at Deutsche Bank
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July 25, 2014
06:37 EDTBBarnes Group sees FY14 adjusted EPS $2.23-$2.33, consnesus $2.26
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06:36 EDTBBarnes Group reports Q2 Industrial sales up 25% to $212.8M
Reports Q2 Aerospace sales up 13% to $109.3M
06:35 EDTBBarnes Group reports Q2 adjusted EPS 59c, consensus 59c
Reports Q2 revenue $322.1M, consensus $315.7M
July 24, 2014
15:29 EDTBNotable companies reporting before tomorrow's open
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July 23, 2014
08:39 EDTYPFRepsol contemplates offer for Talisman Energy, Bloomberg says
Repsol (REPYY) is contemplating making an offer for Talisman Energy (TLM) as it aims to deploy funds it was given as compensation for the loss of its share in YPF (YPF), according to Reuters, citing people familiar with the matter. The sources said that Repsol is working with JPMorgan as it examines making a potential bid. Reference Link
06:13 EDTRIORio Tinto says Chinese demand for iron ore 'strong,' Daily Telegraph says
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July 20, 2014
11:58 EDTCHKCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 16, 2014
05:15 EDTRIORio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes
The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link
05:11 EDTRIORio Tinto reports Q2 global iron ore production up 11% to 73.1M tons
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July 15, 2014
20:05 EDTRIORio Tinto iron ore output rose 10% in first half of year, WSJ reports
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