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Stock Market & Financial Investment News

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February 8, 2013
13:35 EDTMSHBY, BHPMitsubishi, BHP prepare for sale of Australian coal mine, Nikkei says
Mitsubishi (MSHBY) and BHP Billiton (BHP) are preparing to sell a portion of an Australian coal mine they jointly own, according to a Nikkei report. Reference Link
News For MSHBY;BHP From The Last 14 Days
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July 22, 2015
05:36 EDTBHPBHP Billiton reports FY15 group production up 9%
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July 15, 2015
05:45 EDTBHPBHP Billiton expects to take $2B writedown on US energy assets
​BHP Billiton expects to recognise an impairment charge of approximately $2B post-tax against the carrying value of its Onshore US assets as an exceptional item in the 2015 financial year results. The gas focused Hawkville field accounts for the substantial majority of this charge reflecting its geological complexity, pproduct mix, acreage relinquishments and amended development plans. The remainder relates to the impairment of goodwill associated with the Petrohawk acquisition. Following this impairment, the Groupís Onshore US business will have net operating assets of approximately $24B. The value of this business is supported by ongoing cost reductions and improving well performance which help offset increased commodity price volatility and lower near term capital expenditure. Consistently positive results from the appraisal and development of the Permian have also unlocked significant value and we now see the ultimate potential of this field at over 150 kboe/d. BHP Billiton plans to invest $1.5B in the Onshore US in the 2016 financial year, which will support a development program of 10 operated rigs. At an oil price of $60 per barrel and a gas price of $3.00 per Mscf, the Group expects its Onshore US business to be free cash flow positive in the 2016 financial year.
July 13, 2015
16:41 EDTBHPOn The Fly: Top stock stories for Monday
Stocks began the session sharply higher and remained in positive territory as prospects of a Greek bailout deal and the removal of a potential "Grexit" brought investors back into the market. The move was broad based, with each of the major indexes advancing more than 1%. ECONOMIC EVENTS: In Europe, Greek Prime Minister Alexis Tsipras agreed to European demands for immediate action to qualify for as much as $95B in financial assistance. The pact averted a worst-case scenario, but only established the basis for negotiations and the Greek parliament now has until Wednesday to pass into law key creditor demands. Greek banks, which have been closed for two weeks as the saga has unfolded, will stay closed until at least Wednesday. In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, said the nation's customs administration. In the U.S., the government posted a budget surplus of $51.8B in June, which was down 27% from the surplus of $70.5B in June of 2014 but above the expected $50.5B surplus forecast by economists polled by Bloomberg. COMPANY NEWS: Marathon Petroleum (MPC) advanced $4.29, or 7.87%, to $58.78 after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of approximately $4.2B in debt. MarkWest, whose common unitholders will receive 1.09 MPLX common units and a one-time cash payment of approximately $3.37 per MarkWest common unit for total consideration of $78.64 per MarkWest common unit, rose $8.26, or 13.82%, to $68.01 after the deal was announced, while MPLX units dropped $10.02, or 14.51%, to $59.03... Several research firms started coverage on Fitbit (FIT) following its recent IPO, with some taking bullish stances on its prospects and several others opting for a more cautious tone. The bulls may have been more convincing for the moment, as shares of the exercise tracker maker advanced $1.38, or 3.28%, to close at $43.48. MAJOR MOVERS: Among the notable gainers were shares of iron ore related companies, with Cliffs (CLF) advancing 22c, or 6.67%, to $3.52, Rio Tinto (RIO) gaining $1.53, or 3.91%, to $40.67, and BHP Billiton (BHP) rising $1.01, or 2.56%, to $40.51 after Vale (VALE) announced it will cut its iron ore output by 25M metric tons beginning this month. Vale ADRs saw similar moves, ending the session up 8.66% to $5.90. Also higher were shares of Anacor (ANAC), which gained $47.32, or 55.93%, to $131.93 after reporting that its crisaborole dermatitis treatment achieved "statistically significant" results on all primary and secondary endpoints in a clinical trial. Among the noteworthy losers was Brocade (BRCD), which fell 42c, or 3.71%, to $10.90 after RBC Capital cut its rating on the stock to Sector Perform and lowered its price target, citing storage challenges and disruptions at OEM partners. Also lower was Ascena (ASNA), which dropped $2.09, or 12.77%, to $14.28 after cutting its fiscal 2015 earnings guidance, though both Oppenheimer and SunTrust called the selloff a buying opportunity. INDEXES: The Dow gained 217.27, or 1.22%, to 17,977.68, the Nasdaq rose 73.82, or 1.48%, to 5,071.51, and the S&P 500 added 22.98, or 1.11%, to 2,099.60.
13:44 EDTBHPVale to cut iron ore output by 25M metric tons, Bloomberg reports
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08:26 EDTBHPMiners weighed on by heavy debt with metal prices declining, WSJ says
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