Sanofi-Aventis’s $4 billion bid for Merial, its animal-health joint venture with Merck & Co., is the third-largest corporate U.K.-targeted deal year-to-date, Dealogic said.
In the latest installment in our series on minor metals, Hard Assets Investor digs into this critical steelmaking ingredient. Manganese in steel productionWho are the major players?How can you invest?[More...]
Wall Street will be busy assessing the score cards of prime companies this week as the market braces for a massive clutch of earnings report in the days ahead, led by Dow confreres FPL Group, ExxonMobil, Travelers Companies, Walt Disney, Chevron and Dominion Resources.
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July 28
Clean energy company FPL Group (FPL) will be on focus before the market opens Tuesday, as Wall Street analysts have a consensus earnings estimate of $0.97 per share on revenues of $3.89 billion for the second quarter. The company currently projects 2009 adjusted earnings in the range of $4.20 - $4.40 per share and 2010 adjusted earnings of $4.65 and $5.05 per share. Previously, the company expected full-year 2009 adjusted earnings of $4.05 - $4.25 per share and fiscal 2010 adjusted earnings of $4.50 - $4.90 per share. Analysts are looking for earnings of $4.22 per share for 2009 and $4.75 per share for fiscal 2010.
For healthcare services and information technology company McKesson Corp. (MCK), which is slated to report first-quarter results at 4:00pm ET, analysts are expecting earnings of $0.86 per share and revenues of $26.78 billion. While releasing fourth-quarter numbers, the company said it expects fiscal 2010 earnings in the range of $3.90 - $4.05 per share, while analysts currently anticipate earnings of $3.99 per share. Distribution solutions revenue is expected to be up modestly, with technology solutions revenue growing at similar levels to fiscal 2009.
As the weak customer traffic continues and order size for office supplies remains average, analysts are expecting the office supplies retailer Office Depot Inc. (ODP) to report a loss of $0.12 per share on revenues of $2.88 billion. The company is scheduled to release second-quarter results before the market opens on July 28.
Oilfield services company Smith International Inc. (SII) will issue forth second-quarter results before the market opens, with analysts projecting earnings of $0.22 per share, on revenues of $2.01 billion.
Tougher-than-expected business environment, investments in price and higher levels of promotional spending battered first-quarter same-store sales and net earnings for Supervalu Inc. (SVU). The grocery stores operator will mete out first-quarter scorecard on July 28, as analysts expect the company to report earnings of $0.53 per share, on revenues of $12.82 billion. In the year-ago quarter, the company posted earnings of $0.76 per share, on net sales of $13.35 billion. On June 24, the Eden Prairie, Minnesota-based firm said it anticipates first-quarter earnings to be "substantially" below the consensus of the Wall Street analysts. Analysts at that time had expected earnings of $0.65 per share for the first quarter.
Industrial conglomerate Textron Inc. (TXT) is expected to incur a loss of $0.01 per share on revenues of $2.62 billion for the second quarter. The results are due to be released before the market opens on July 28. For fiscal 2009, Textron currently expects earnings from continuing operations, excluding special charges, to range between $0.45 and $0.75 per share, on revenues of about $11.0 billion. Analysts expect the company to report earnings of $0.22 per share on revenue of $10.53 billion for the year. Earlier, the company estimated earnings from continuing operations, excluding special charges, in the range of $1.00 - $1.50 per share, and revenues of about $12.5 billion.
Advertising and marketing services provider Interpublic Group of Companies Inc. (IPG) will publicize second-quarter scorecard before the market opens, with analysts forecasting earnings of $0.10 per share on revenues of $1.60 billion.
Book publisher McGraw Hill Companies (MHP) will readout second-quarter numbers before the market opens on July 28, with analysts projecting earnings of $0.55 per share on revenues of $1.54 billion. Most recently, the New York- based company said it initiated several measures, including realignment of select business operations and a workforce reduction of about 550 positions, in an effort to strengthen core offerings and help manage costs.
McGraw-Hill is expected to incur pre-tax restructuring charge, primarily severance related charges, of about $24.3 million. For fiscal year 2009, the company continues to expect ongoing earnings within a range of $2.20 - $2.30 per share, while it currently expects revenue to decline 4.0% - 5.0% compared to earlier forecast of a decrease of 1.0% - 2.0%.
The lineup of companies to issue forth financial results Tuesday include United States Steel Corp. (X), BE Aerospace (BEAV), BP plc (BP), Canon (CAJ), Celanese Corp. (CE), Check Point Software Technologies (CHKP), Integrated Device Technology (IDTI), STMicroelectronics (STM), Teva Pharmaceutical (TEVA), Rockwell Automation (ROK), Ecolab Inc. (ECL), Coventry Health Care Inc. (CVH).
July 29
Nonalcoholic refreshment products company Coca-Cola Enterprises Inc. (CCE) said its second-quarter business trends are broadly in line with expectations. The second-quarter numbers are scheduled to be released on July 29, with analysts expecting earnings of $0.51 per share on revenues of $5.99 billion.
In mid-May, Coca-Cola said it continues to expect full-year 2009 earnings to range between $1.24 and $1.29 per share, excluding one-time, nonrecurring items and including an estimated 20% per share negative impact from currency translation based on recent rates.
ConocoPhillips (COP), the third largest U.S. oil company, is due to report second-quarter financial results on July 29. Analysts polled by Thomson Reuters currently expect the company to earn $0.85 per share on revenue of $39.08 billion for the second quarter. Analysts' estimates typically exclude special items.
Defense contractor General Dynamics (GD) is expected to report earnings of $1.57 per share on revenues of $8.13 billion for the second quarter. The results are slated to be released on July 29.
Credit ratings provider Moody's Corp. (MCO) will issue forth its second-quarter numbers Wednesday, with analysts expecting earnings of $0.40 per share on revenues of $426.57 million. The company reaffirmed its full-year 2009 earnings guidance to a range of $1.40 - $1.50 per share. However, Moody's lowered its forecast for full-year revenue, saying it now expects revenue to decline in the mid-single-digit percentage range. Earlier, the company forecast revenue to decline in the low single-digit percent range.
Time Warner Cable Inc. (TWC) will report second-quarter results before the market opens, with analysts forecasting earnings of $0.79 per share on revenues of $4.44 billion, while Media and entertainment giant Time Warner Inc. (TWX) is expected to post earnings of $0.37 per share on revenues of $6.97 billion for the second quarter. While releasing first-quarter numbers, Time Warner said it continues to expect full-year 2009 adjusted income per share from continuing operations to be around flat, compared with its adjusted earnings per share of $1.98 in 2008. This guidance reflects the company's 1-for-3 reverse stock split on March 27 in both the prior and current year. Analysts expect the company to report earnings of $1.98 per share for fiscal 2009.
Health insurer WellPoint Inc. (WLP) will issue second-quarter results at 06:00 am ET, with analysts projecting earnings of $1.42 per share on revenues of $15.43 billion. For fiscal 2009, WellPoint now expects net income to range between $5.14 and $5.20 per share, including net realized investment losses of $0.46 per share, versus earlier projected earnings of $5.51 - $5.66 per share.
Other companies to tag along with the whales to spout out quarterly results Wednesday are Flowserve Corp. (FLS), Hartford Financial Services (HIG), O'Reilly Automotive (ORLY), Symantec (SYMC), Watson Pharmaceuticals Inc. (WPI), Wyndham Worldwide (WYN), Praxair Inc. (PX), ArcelorMittal (MT), Banco Santander S.A. (STD), Brookfield Properties Corp. (BPO), Cadbury plc (CBY), Deutsche Bank (DB), Flextronics (FLEX), Goldcorp (GG), Honda Motor Co. Ltd. (HMC), Jones Apparel Group Inc. (JNY), Ness Technologies Inc. (NSTC), Sanofi-Aventis (SNY), SAP AG (SAP), Silicon Laboratories Inc. (SLAB), Tyco Electronics (TEL), United Microelectronics Corp. (UMC), Visa Inc. (V), Whiting Petroleum Corp. (WLL), Fiserv (FISV), Qwest Communications (Q),Sprint Nextel Corp. (S).
July 30
Thursday's earnings will be led by three Dow components ExxonMobil Corp (XOM), Travelers Companies Inc. (TRV) and Walt Disney (DIS).
Oil giant ExxonMobil is due to report second-quarter results before the market opens, with analysts expecting earnings of $1.02 per share on revenues of $73.01 billion.
Commercial and home property insurer Travelers is expected to post earnings of $1.28 per share on revenues of $6.17 billion for the second quarter. The results are slated to be released before the market opens on July 30. For fiscal 2009, the company currently expects full-year earnings of $4.55 - $4.95 per share, up 5 cents from the prior projected range of $4.50 - $4.90 per share.
Diversified media and entertainment company Walt Disney is likely to blazon out third-quarter results at 4:01 pm ET on July 30. Analysts are looking for earnings of $0.50 per share on revenues of $8.83 billion.
AmeriSourceBergen (ABC), Aon Corp. (AOC), Apache Corp. (APA), Automatic Data Processing (ADP), Becton, Dickinson and Co. (BDX), CIGNA (CI), Colgate-Palmolive (CL), Eastman Kodak Co. (EK), Goodyear Tire & Rubber (GT), International Paper Co. (IP), Kellogg Co. (K), MasterCard Inc. (MA), MetLife Inc. (MET), Monster Worldwide (MWW), Motorola Inc. (MOT), Mylan Inc. (MYL), Newell Rubbermaid (NWL), NYSE Euronext (NYX), Parker Hannifin Corp. (PH), Pitney Bowes Inc. (PBI), Dow Chemical Co. (DOW), Waste Management (WMI), Xcel Energy (XEL), Avon Products Inc. (AVP), McAfee Inc. (MFE), Cummins Inc. (CMI), Alcatel-Lucent (ALU), AstraZeneca PLC (AZN), Barrick Gold (ABX), British American Tobacco (BTI), British Sky Broadcasting Group plc (BSY), Community Health Systems Inc. (CYH), Covidien Ltd. (COV), Eni S.p.A. (E), France Telecom (FTE), Level 3 Communications (LVLT), Petro-Canada (PCZ), Pride International Inc. (PDE), Tyco International (TYC) are among the hordes of companies slated to release quarterly results Thursday.
July 31
Oil company Chevron Corp. (CVX) most recently said it expects upstream earnings for the second quarter, compared to the first quarter, to benefit from an increase in prices for crude oil, largely offset by substantial unfavorable foreign currency effects. Downstream results are projected to be significantly lower than the first quarter.
Amid the global economic crisis that has led to a decline in oil and natural gas demand, sending oil prices down, Wall Street analysts expect Chevron to report earnings of $0.95 per share, on revenues of $32.47 billion for the second quarter. The results are slated to be released on July 31.
Fellow Dow member, natural gas and electricity provider Dominion Resources Inc. (D) is likely to dole out second-quarter results Friday, with analysts expecting earnings of $0.64 per share on revenues of $3.61 billion. The energy company projects second-quarter operating earnings to range between $0.61 and $0.66 per share. This compares to operating earnings of $0.50 per share in the second-quarter of 2008. Drivers expected to compare favorably to 2008 include higher contributions from the merchant generation, producer services and gas transmission businesses.
Multi-specialty healthcare company Allergan Inc. (AGN) will publicize second-quarter results before the market opens, with analysts expecting earnings of $0.67 per share on revenues of $1.08 billion. While releasing first-quarter figures, the company said it expects second-quarter GAAP earnings of $0.59 - $0.61 per share and non-GAAP earnings of $0.66 - $0.68 per share, on total product net sales of $1.05 billion - $1.1 billion. Allergan further noted that it continues to expect the previously projected full-year GAAP earnings of $2.06 - $2.12 per share and non-GAAP earnings of $2.69 - $2.75 per share, on revenue of $4.1 billion - $4.3 billion.
Automotive retailer AutoNation (AN) will publish second-quarter numbers with analysts expecting earnings of $0.24 per share on revenues of $2.82 billion, while electric utility Constellation Energy Group Inc. (CEG) will issue forth second-quarter results before the market opens with analysts projecting earnings of $0.76 per share on revenues of $3.57 billion. Constellation Energy continues to expect fiscal 2009 earnings in the range of $2.90 - $3.20 per share. The company also reaffirmed its fiscal 2010 earnings outlook range of $3.05 - $3.45 per share.
Forest products provider Weyerhaeuser Co. (WY) is expected to have a loss of 71 cents on revenues of $1.46 billion for the second quarter. The results are due to be announced before the market opens on July 31. While reporting first-quarter numbers, the company said it expects a smaller operating loss for the Wood Products segment in the second quarter due to cost reductions resulting from first quarter facility closures and other cost control measures. Weyerhaeuser also expects a second-quarter loss for Cellulose Fibers division due to expenses related to a planned major boiler maintenance project, other annual maintenance outages and lower pulp prices.
Anglo American Plc (AAUK), Anglogold Ashanti Ltd. (AU), Calpine Corp. (CPN), DryShips Inc. (DRYS), Eldorado Gold Corp. (EGO), Total (TOT).
Mining goliaths, once riding on the steady profits stream attributed to high commodity prices, are now bickering over contracts with resource-rich countries that are no longer getting the levels of revenue desired. Mining firms and the exchange traded funds (ETFs) that track them may stumble as commodity prices remain in the trough.
There ...
On Monday (June 22), Anglo American plc (AAUK, AAL.L) rejected Anglo Swiss mining company Xstrata plc's (XTA.L, XSRAY.PK, XSRAF.PK) proposal for a $68 billion ‘merger of equals’ between the two companies, saying that the terms proposed by Xstrata were "to[More...]
The board of Anglo American (AAUK) met today to discuss the offer made by Anglo-Swiss mining company Xstrata (XSRAY), and reportedly the board of Anglo American unnanimously decided against the merger. The board’s decision was not all that unexpected as management had characterized the merger talks as preliminary. The deal was billed by Xstrata as a merger of equals based on the similar capitalization sizes of the mining companies, and their complementary products. The proposed company would be half owned by each company and no cash change hands. However, Anglo American doesn’t seem to be too interested in linking up with Xstrata in the $68 billion all stock deal. Analysts have estimated that the joining of the two large[More...]
Companies featured in this segment: Southern Company (NYSE:SO), Teck Cominco Limited (TSX:TCK.B), Daimler AG (NYSE:DAI), General Motors Corporation (NYSE:GM), Ford Motor Company (NYSE:F), Flint Energy Services Limited (TSX:FES), Anglo American plc (NASDAQ:AAUK), Synthesis Energy Systems Incorporated (NASDAQ:SYMX), CONSOL Energy Incorporated (NYSE:CNX), The Shaw Group Incorporated (NYSE:SGR)
Companies featured in this segment: Entergy Corporation (NYSE:ETR), General Electric (NYSE:GE), Foster Wheeler (NASDAQ:FWLT), Anglo American (NASDAQ:AAUK), The AES Corporation (NYSE:AES), Harbin Electric Incorporated (NASDAQ:HRBN), Alstom S.A. (EPA:ALO), ABB Limited (NYSE:ABB), Thermax Limited (BOM:500411), McDermott International (NYSE:MDR), 3M Company (NYSE:MMM)
Azco Mining Becomes Current with SEC Financial Reporting; Company Eligible to Return to OTCBB
Thursday February 22, 9:13 am ET GLENDALE, Ariz., Feb. 22 /PRNewswire-FirstCall/ -- Azco Mining Inc. a U.S.-based mining and exploration enterprise focused on gold, silver, copper and industrial minerals recently filed a 10KSB and two 10QSBs, bringing the company current in its financial reporting. The company will seek to have its securities quoted on the Over-the-Counter-Bulletin- Board.
Dr. W. Pierce Carson, CEO of Azco Mining, said, "With the filing issue now behind us, we intend to focus on our strategic agenda of maximizing value from our precious and industrial minerals projects, for the benefit of share holders. Recently, we also reduced debt significantly. The company is now in a position to move forward and capitalize on its precious metals projects, especially in the present exciting investment climate of elevated silver and gold prices."
Feasibility work on the company's Summit silver-gold project is nearing completion. This work, under the coordination of an independent engineering firm, will provide an estimate of capital and operating costs and a budget and schedule for project development. Based on the results, the company expects to decide how to proceed with production. Azco Mining purchased the Lordsburg Mining Company in May 2006 in order to acquire the Summit silver-gold deposit located in Grant County, N.M. At today's metal prices, in-ground values are believed to exceed $250 million.
"The Summit silver-gold project remains our top priority," Carson said. "The independent engineering study, which addresses all major aspects of the project's development, is nearing completion. The report will serve as a sound basis upon which we will be able to plan the project's advancement. We are confident that under current prices of silver and gold, development of a new mine at Summit would yield an attractive return on investment.
"Once in operation, we anticipate that cash flow from Summit will serve as an important basis for Azco's continued growth. Following Summit, our Ortiz gold project is the next in the precious metals pipeline and we continue to carry out engineering and resource work there. We also are evaluating other precious and base metal opportunities for acquisition and are considering a joint venture for development and operations at Black Canyon."
In November 2006, Azco Mining began trading on the Pink Sheets pending the filing of current financial reports. The delay in filing was due to the extra time required to audit the 2004 and 2005 financial statements of the Lordsburg Mining Company. These financial statements had to be incorporated into the consolidated financial statements for Azco Mining commencing the fiscal year ended June 30, 2006.
About Azco Mining Inc. Azco Mining is a U.S.-based mining and exploration company focused on acquiring and developing gold, copper and industrial mineral properties. The company owns the Summit gold-silver property and a mill site and processing equipment in southwestern New Mexico; mineral lease rights to the Ortiz gold property in north-central New Mexico, believed to contain 2 million ounces of gold; a high-quality mica mine and processing facility near Phoenix; and a large resource of micaceous iron oxide (MIO) in La Paz County, Ariz. Azco intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals. To learn more about Azco Mining Inc., visit http://www.azco.com.
For investor relations information regarding Azco Mining, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. Source: Azco Mining Inc.
M2 11:49 a.m. 02/21/2007 Feb 21, 2007 M2 PRESSWIRE via COMTEX --
As gold and silver prices continued to help drive the prices of mining stocks higher there are several mining stocks we continue to watch closely. Anglo-American plc Nasdaq: AAUK-24.65 The world's second largest mining company today reported 2006 profit up 76%. Azco Mining Pinksheets: AZMN-1.18. The company in the last couple of days has reported its 10-QSBs for September and December 2006 as well the company's annual 10-K. We believe this is a very positive development for Azco Mining, Inc. as completing the necessary filings has been a major concern and thrust of management as stated in a recent interview with CEO Pierce Carson which can be listened to on www.OTCVoice.com .
Azco Mining is a U.S.-based mining and exploration company focused on acquiring and developing gold, copper and industrial mineral properties. The company owns the Summit gold-silver property and a mill site and processing equipment in southwestern New Mexico; mineral lease rights to the Ortiz gold property in north-central New Mexico, believed to contain 2 million ounces of gold; a high-quality mica mine and processing facility near Phoenix; and a large resource of micaceous iron oxide MIO in La Paz County, Ariz. Azco intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals. To learn more about Azco Mining Inc., visit http://www.azco.com .
An investment profile about Azco Mining may be found at www.shareholderDG.com along with a recent audio interview with the CEO. Kincross Gold Corp NYSE:KGC-13.00 Kinross Gold Corporation and Bema Gold Corporation NYSE:BGO-5.80 announced today that the closing of the acquisition of Bema has been set for February 27, 2007. Bema shareholders voted 91 per cent in favour of the transaction on January 30, 2007, and the transaction was approved by the Ontario Superior Court of Justice on January 31, 2007. In connection with anticipated completion of the transaction, Kinross has waived the condition of closing relating to the reclassification and the securing of a long term lease of Bema's Kupol lands, having become satisfied that the remaining administrative steps to complete this process are well advanced and supported by the Russian authorities. All other regulatory approvals required for the completion of the transaction have been obtained, and subject to the remaining customary conditions of closing, the transaction will be completed on February 27, 2007. It is expected that the common shares of Kinross issuable in connection with the transaction will be listed and posted for trading on the Toronto Stock Exchange and the New York Stock Exchange on or about February 27, 2007 and that Bema common shares will be delisted from the Toronto Stock Exchange and the New York Stock Exchange on or about the close of business on February 28, 2007 and February 27, 2007, respectively. It is anticipated that the Bema warrants currently listed on the Toronto Stock Exchange will commence trading under "Kinross" at the opening of business March 1, 2007. Kinross Today Kinross, a Canadian-based gold mining company, is the fourth largest primary gold producer in North America and the eighth largest in the world. With eight mines in Canada, the United States, Brazil and Chile, Kinross employs more than 3,700 people. Kinross maintains a strong balance sheet and a no gold hedging policy. Kinross is focused on the strategic objective of maximizing net asset value and cash flow per share through a four-point plan built on growth from core operations; expanding capacity for the future; attracting and retaining the best people in the industry; and driving new opportunities through exploration and acquisition. Kinross maintains listings on the Toronto Stock Exchange symbol: K and the New York Stock Exchange symbol: KGC. Bema Today Bema Gold Corporation is one of the world's fastest growing intermediate gold producers with operating mines and development projects on three continents. Bema is projected to produce one million ounces of gold annually by the year 2009. Bema is listed on the Toronto Stock Exchange and the New York Stock Exchange symbol: BGO and on the AIM Exchange in London symbol: BAU
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