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Stock Market & Financial Investment News

News Breaks
May 12, 2014
06:31 EDTNEM, BHP, MTArcelorMittal in discussions to buy BHP Billiton asset in Guinea, WSJ says
According to two sources, ArcelorMittal (MT) is in "deep, deep discussions" to acquire BHP Billiton's (BHP) stake in a major iron-ore deposit in Guinea, the Wall Street Journal reported on Friday. A deal could be worth up to $500M. Other partners in the project include Newmont Mining (NEM) and Areva. Reference Link
News For MT;BHP;NEM From The Last 14 Days
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August 31, 2015
10:01 EDTNEMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 58.com (WUBA) upgraded to Overweight from Underweight at Morgan Stanley... AU Optronics (AUO) upgraded to Outperform from Underperform at Bernstein... Asbury Automotive (ABG) upgraded to Neutral from Underperform at Buckingham... Astec (ASTE) upgraded on upcoming catalysts at Stifel... Baidu (BIDU) upgraded to Buy from Hold at Jefferies... Bob Evans (BOBE) upgraded to Sector Weight from Underweight at KeyBanc... CNOOC (CEO) upgraded to Buy from Neutral at BofA/Merrill... Dover (DOV) upgraded on valuation, headwinds bottom at Bernstein... Envestnet (ENV) upgraded to Outperform from Market Perform at Avondale... Generac (GNRC) upgraded to Outperform from Market Perform at William Blair... Gold Fields (GFI) upgraded to Sector Perform from Underperform at Scotia Howard Weil... Goldman Sachs (GS) upgraded to Buy from Hold at Evercore ISI... Intel (INTC) upgraded to Outperform from Market Perform at Northland... J.C. Penney (JCP) upgraded to Buy from Hold at Deutsche Bank... Leggett & Platt (LEG) upgraded to Outperform from Market Perform at Raymond James... Morgan Stanley (MS) upgraded to Buy from Hold at Evercore ISI... Newmont Mining (NEM) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Pan American Silver (PAAS) upgraded to Outperform at Scotia Howard Weil... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... Stanley Black & Decker (SWK) upgraded to Outperform from Neutral at Macquarie... Telefonica Brasil (VIV) upgraded to Overweight from Equal Weight at Morgan Stanley... Tenet (THC) upgraded to Outperform from Market Perform at BMO Capital... Twitter (TWTR) upgraded to Buy from Neutral at SunTrust... UIL Holdings (UIL) upgraded to Hold from Sell at Argus... Vocera (VCRA) upgraded to Outperform from Market Perform at Leerink... Wisconsin Energy (WEC) upgraded to Conviction Buy from Buy at Goldman.
08:09 EDTNEMNewmont Mining upgraded to Outperform from Sector Perform at Scotia Howard Weil
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07:31 EDTMTArcelorMittal Bremen renews partnership with CGI Group
ArcelorMittal Bremen, a subsidiary of ArcelorMittal (MT), has renewed its partnership with CGI. ArcelorMittal Bremen outsourced its IT to CGI five years ago, and, since then, CGI has managed the company's two data centers in Bremen, provided IT infrastructure support, and maintained all applications predominantly developed by ArcelorMittal Bremen, as well as other warehousing and automated production control systems. In addition, CGI provides field service support for approximately 2,000 Windows end-user systems. CGI's scope of activities for ArcelorMittal Bremen has expanded considerably over the course of the engagement. CGI was given, for example, responsibility for an additional 180 production control systems. In fact, the contract volume has doubled in size.
August 27, 2015
10:33 EDTBHPFreeport McMoRan surges after further cut to capital spending plans
Shares of Freeport-McMoRan (FCX) are surging in morning trading after the company announced plans to cut spending and production in response to current market conditions. It also plans to cut about 10% of employees and contractors at U.S. mining operations. WHAT'S NEW: Freeport-McMoRan this morning reduced its 2016 capital expenditure budget to $4B, approximately 29% lower than the $5.6B estimate on July 23, which it said reflects "aggressive" actions in response to current market conditions. The 2016 CapEx outlook includes $1.4B in mining projects, $600M in mining sustaining capital and $2B in oil and gas expenditures. The company said it will reduce copper sales by about 150M pounds per year in 2016 and 2017 and cut 2016 unit site production by 20%. Additionally, the company plans to reduce 2016 minerals exploration costs to $50M from $100M. Freeport also said it expects a 10% reduction in employees and contractors at U.S. mining operations. The company cited recent declines in copper prices for the reductions and said the actions announced today are the results of the previously announced review of operating plans for its mining business. Freeport said it views the long-term outlook for its business "positively," helped by limitations on copper supply. In the near-term, however, Freeport said it will continue to monitor market conditions and capital spending, but is currently "adjusting operations to maximize current cash flow under weak market conditions while preserving its large mineral resources and growth options for the longer term." WHAT'S NOTABLE: Since late 2014, Freeport has cut its 2015 capital expenditure budget to $6.3B from $7.5B, including reductions of $700M in oil and gas expenditures and $500M in mining expenditures. Earlier this month, Freeport cuts its oil and gas capital budgets for 2016 and 2017 by $900M each in response to market conditions and maintained its expectations for $2.8B in O&G CapEx for this year. In July, after reporting its second straight quarterly loss, Freeport said its cost reduction plans would include potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for anticipated improved market conditions in the future. Freeport previously commented that it would pursue additional capital cost reductions, potential additional divestitures or monetizations and other actions as required to maintain a strong balance sheet while preserving a strong resource position. PRICE ACTION: Freeport-McMoRan is up 16.5% to $9.22 in morning trading. Shares are down over 60% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
10:00 EDTMTOn The Fly: Analyst Initiation Summary
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10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
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08:48 EDTMTArcelorMittal initiated with a Neutral at JPMorgan
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07:54 EDTBHPBHP Billiton upgraded to Neutral from Underperform at Exane BNP Paribas
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August 26, 2015
10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
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08:16 EDTBHPBHP Billiton upgraded at RBC Capital
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07:08 EDTBHPBHP Billiton upgraded to Sector Perform from Underperform at RBC Capital
August 25, 2015
12:17 EDTBHPBHP Billiton technical comments ahead of earnings
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09:26 EDTBHPBHP Billiton sees FY16, FY17 capex to decline from $11B in FY15
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09:24 EDTBHPBHP Billiton says commitment to the progressive dividend unchanged
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09:23 EDTBHPBHP Billiton reports FY15 net profit down 86.2% to $1.91B
Reports FY15 revenue from continuing operations down 21.4% to $44.64B. Reports final dividend for current period of 62c, with a record date of September 11 and payment date of September 29.
06:44 EDTMTArcelorMittal finds success in Northern France plant, WSJ reports
ArcelorMittal (MT) has found improbable success investing heavily in Europe, particularly in rust belt Northern France, the Wall Street Journal reports. The company's most profitable business unit is located in Northern France, and the European Union is still the globe's most prestigious automotive market, where companies such as Audi (AUDVF) and BMW (BAMXY) make nearly a trillion dollars worth of cars a year, the report says, meaning higher demand for locally produced steel. Reference Link

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