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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:06 EDTMCP, SI, NSANYMolycorp 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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October 23, 2014
07:58 EDTNSANYAutomakers under increased scrutiny after wide ranging air bag recall, WSJ says
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06:32 EDTNSANYNissan issues worldwide recall for 260K cars for Takata airbags, Reuters says
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October 22, 2014
06:24 EDTNSANYNHTSA says over 6M cars involved in Takata airbag recalls
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October 21, 2014
08:12 EDTNSANYNissan selects Hertz as exclusive mobility partner
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October 20, 2014
07:12 EDTSICongress of Neurological Surgeons to hold annual meeting
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07:11 EDTSIAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
October 16, 2014
06:34 EDTNSANYChina to punish automakers that miss fuel standards, Reuters reports
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October 13, 2014
06:44 EDTNSANYRegulators seeking banks' auto loan data, Reuters reports
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