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Stock Market & Financial Investment News

News Breaks
December 3, 2013
07:55 EDTRGLD, RGLD, FNV, FNV, SLW, SLW, ABX, ABX, GG, GG, HBM, HBM, BTG, BTG, CCJ, CCJ, PVG, PVG, PPP, PPP, AEM, AEM, IAG, IAGScotia Capital to hold a conference
Mining Conference 2013 is being held in Toronto on December 3-4 with webcasted company presentations beginning on December 3 at 8 am; not all company presentations may be webcasted. Webcast Link
News For RGLD;AEM;PPP;PVG;CCJ;BTG;HBM;GG;ABX;SLW;FNV;IAG From The Last 14 Days
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April 17, 2014
09:59 EDTAEMOn The Fly: Analyst Upgrade Summary
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09:26 EDTAEMAgnico-Eagle upgraded to Buy from Hold at Desjardins
05:46 EDTABXBarrick Gold (ABX) Trust implied volatility of 35 at lower end of index mean ran
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April 16, 2014
16:40 EDTAEMOn The Fly: Closing Wrap
Stocks on Wall Street were higher after Fed Chair Janet Yellen struck a dovish tone in comments to the Economic Club of New York, which was in step with the minutes of the last FOMC meeting released last week. The Fed also released its latest Beige Book report, which indicated that economic activity increased in most regions after the severe winter weather that gripped much of the country to start the year had let up. Corporate earnings season continues to pick up steam, with Dow members IBM (IBM) and American Express (AXP), as well as Google (GOOG), reporting after the market close. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed's Beige Book report indicated that economic activity rebounded and strengthened in most regions over the last six week. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Bank of America (BAC) fell 26c, or 1.59%, to $16.13 after the bank reported a first quarter loss of 5c per share, largely due to $6B in legal charges. Excluding the impact of this litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and other legacy mortgage-related matters, the banking major reported earnings that appeared to beat estimates... Yahoo (YHOO) gained $2.14, or 6.26%, to $36.35 after its quarterly report, with investors reacting most positively to the 66% year-over-year revenue growth reported by Chinese e-commerce company Alibaba, in which Yahoo holds a 24% stake. Yahoo's quarterly profit and revenue also beat expectations and the company's CEO Marissa Mayer said during its earnings webcast that the search giant's core business has moved from declining growth to stable to modest growth. MAJOR MOVERS: Among the notable gainers was CBS Outdoor (CBSO), which jumped $1.94, or 6.69%, to $30.96 after the IRS approved a plan for the company, which was just last week spun-off from its parent CBS (CBS), to convert into a real estate investment trust, or REIT. Other companies seeking REIT status, including Equinix (EQIX), Iron Mountain (IRM) and Lamar Advertising (LAMR), also rose following CBS' announcement. Also higher was drugmaker Zogenix (ZGNX), up 48c, or 20.51%, to $2.82 after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers were U.S.-listed shares of Credit Suisse (CS), which fell 54c, or 1.7%, to $31.22 after the Swiss bank reported net income and revenue that fell when compared to the prior year. Also lower were Agnico Eagle Mines (AEM) and Yamana Gold (AUY) after agreeing to jointly acquire Osisko Mining. Angico shares fell $2.61, or 8.56%, to $27.88, while Yamana was down 36c, or 4.3%, to $8.02. INDEXES: The Dow was up 162.29, or 1.0%, to 16,424.85, the Nasdaq was up 52.06, or 1.29%, to 4,086.23, and the S&P 500 was up 19.33, or 1.05%, to 1,862.31.
12:47 EDTAEMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fedís Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
12:00 EDTAEMAgnico-Eagle falls 6.5%
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10:03 EDTAEMYamana Gold and Agnico Eagle Mines to hold joint conference call
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10:00 EDTAEMAgnico-Eagle falls 4.8%
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09:36 EDTGGActive equity options trading on open
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09:26 EDTAEM, GGYamana Gold and Agnico-Eagle reach acquisition agreement with Osisko Mining
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05:24 EDTPVGPretium Resources provides update on Brucejack Project
Pretium Resources announced the following update on its activities underway and planned for 2014 at its high-grade gold Brucejack Project. Pretivm expects to file its Environmental Assessment Certificate application this quarter once it receives the final Application Information Requirements from the British Columbia Environmental Assessment Office, or BCEAO, which is expected shortly. Once filed, the application will be evaluated for completeness over a 30-day period by BCEAO with the involvement of a working group including representatives of First Nations and local governments and other government agencies. Once the application has been accepted, the BCEAO has a maximum of 180 days to complete its review and prepare an assessment report for a decision by the Minister of Environment and the Minister of Energy and Mines. Work to update the Brucejack Project feasibility study has been ongoing, with the mine plan and mining stopes now updated to incorporate the revised economic parameters of $1,100/oz gold, $17/oz silver. Based on this work, the production rate of 2,700 tonnes per day has been confirmed. Other updates include equipment and materials pricing to Q2, and the update of labour rates, schedule and productivity. The amended Brucejack Project feasibility study is on track for completion in June.
April 14, 2014
13:28 EDTHBMHudbay Minerals seeks order to cease trade Augusta's poison pill
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April 10, 2014
11:17 EDTGGOsisko responds to Goldcorp increased offer to C$7.65 per share
Osisko notes the announcement by Goldcorp that it intends to amend its hostile offer to acquire all of the outstanding common shares of Osisko to extend the expiry date, increase the consideration payable and reduce the minimum tender condition. The board of Osisko said it will consider this announcement. Until the Corporation completes its review, it will not comment further or speculate as to any future course of action it might take.
07:48 EDTGGGoldcorp to host investor day
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07:11 EDTGGGoldcorp increases offer for Osisko to C$7.65 per share
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05:22 EDTGGGoldcorp announces Q1 gold production 680,000 oz
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April 9, 2014
07:08 EDTIAGIAMGOLD updates activities at Pitangui, Brazil, and Boto Gold, Senegal, projects
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April 4, 2014
14:21 EDTGG, ABXBarrick Gold completes Nevada asset divestiture
Barrick Gold (ABX) announced it has completed the divestiture of its minority interest in the Marigold mine in Nevada to Silver Standard Resources (SSRI) for total cash consideration of $86M, subject to certain closing adjustments. Barrick had previously held a 33.3% interest in Marigold, with the remaining 66.7% interest owned by the operator, Goldcorp (GG).
13:58 EDTGG, ABXGoldcorp completes sale of Marigold mine
Goldcorp (GG) announced that the company and their joint venture partner Barrick Gold (ABX) have completed the sale of their respective interests in the Marigold mine in Humboldt County, Nevada to Silver Standard (SSRI). Total consideration paid at closing to Goldcorp and Barrick was $275M. Marigold was a joint venture operation between Goldcorp who was the operator and 66.7% partner and Barrick who was the 33.3% partner.

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