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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:06 EDTMCP, NSANY, SIMolycorp rises after Bloomberg says company could be takeover target
Shares of rare earth mining company Molycorp (MCP) are trading higher this morning after a Bloomberg "Real M&A" article said the company could be a takeover target. According to data compiled by Bloomberg, Molycorp, which owns the largest U.S. deposit of "rare earth" metals that go into everything from smartphones to hybrid cars, is trading at a 19% discount to its book value. The company's stock slid 61% in 2012 as it faced problems like slumping prices of rare earths, the departure of its CEO, cost overruns at its California mines and a regulatory probe. Byron Capital Markets believes manufacturers from Nissan (NSANY) to Siemens (SI) could be interested in making a bid for Molycorp, according to Bloomberg. The report also noted that Robert W. Baird & Co believes the $1.3B company could appeal to private-equity firms, but mining companies may not be as eager to pursue the company, and that Goldman Sachs believes Molycorp could fetch $15 per share in a takeover, a 59% premium to its close on December 31. Molycorp advanced $1.43, or 15.15%, to $10.87 in early-morning trading.
News For MCP;SI;NSANY From The Last 14 Days
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April 17, 2014
08:10 EDTNSANYJapanese, German car manufacturers benefiting on Korea deal, Reuters says
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07:58 EDTNSANYEU vehicle sales turnaround fails to stop price war, Reuters says
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April 15, 2014
18:11 EDTNSANYMajor Japanese automakers target 30% production increase in Asia, Nikkei says
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15:18 EDTMCPChina seen exceeding forecast for rare earth stockpiling, SMM says
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08:12 EDTNSANYBofA/Merrill to hold a summit
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April 11, 2014
07:31 EDTNSANYChina auto sales growth slowed in March, WSJ reports
The China Association of Automobile Manufacturers said 1.71M passenger vehicles were sold there in March, which was up 7.9% from a year earlier but a slower growth rate than the 11% year-over-year increase seen in the January-to-February period, reported The Wall Street Journal. The association cited weak sales of minivans, which fell 23% in the month, as a large factor, the report noted. Publicly traded automakers include Ford (F), General Motors (GM), Fiat (FIATY), Honda (HMC), Toyota (TM), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
April 9, 2014
06:40 EDTNSANYCar sales rose 9% last month in China, China Daily says
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April 7, 2014
06:20 EDTNSANYGhosn says Nissan-Renault committed to Russian venture, WSJ reports
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