us Companies in Australia
U.S. stocks were higher on the eve of the U.S. presidential elections, although investors are hesitant to make any big moves before the outcome is known. Gold was higher overnight - last trading at US$1685 an ounce.
us Companies in Australia
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Tuesday, November 06, 2012 by Proactive Investors U.S. stocks were higher on the eve of the U.S. presidential elections, although investors are hesitant to make any big moves before the outcome is known. Gold was higher overnight - last trading at US$1685 an ounce. Many investors are keeping their money off the table until the fate of the U.S. presidential elections between incumbent President Barack Obama and Republican Mitt Romney has been decided.
The race is neck and neck, with investors hoping that the outcome is decided late tomorrow night, and that the decision is not dragged out for days. A decisive election, regardless of the outcome, could start an equities rally.
U.S. did however trend higher overnight, and by the close the Dow Jones had added 20 points (+0.15%) to 13,113, while the NASDAQ rallied 18 points (+0.59%) to 3000 (almost, currently exactly 2999.66).
On a slow economic news day the Institute for Supply Management reported its index of non-manufacturing activity fell to 54.2 in October, from 55.1 the previous month - but importantly a reading above 50 indicates expansion.
In corporate news, shares of Apple (NASDAQ:AAPL) rose after the company said it sold three million iPads in just three days since the launch of its new iPad mini and the updated 10-inch version of the iPad - double the previous first weekend milestone for the third generation iPad in March.
The company, however, did not specify how many units of each iPad it sold. Gene Munster of Piper Jaffray estimated that between 2 and 2.5 million units of the weekend’s sales were of the iPad mini, above his initial estimate of 1 to 1.5 million units.
It was also reported later in the day by Reuters that a federal judge threw out a lawsuit by Apple against Google (NASDAQ:GOOG). The suit alleged Google's Motorola patent licensing practices were unfair.
Shares of Tesla Motors (NASDAQ:TSLA) rose even after the company posted a wider loss than anticipated. On an adjusted basis, the California-based company's loss would have been $97 million, or 92 cents a share.
Analysts polled by FactSet were forecasting a loss of 89 cents a share on revenue of $55.7 million. The company also stood by its full year revenue forecast and in a letter to investors, it described the third quarter as a “fundamental turning point” since it is now able to mass produce around 100 cars per week — compared with five per week at the beginning of the quarter.
Health insurer Humana (NYSE:HUM) topped Street views when it reported its profit for the third quarter, and raised its full year earnings forecast. The company also announced two acquisitions, and said president Bruce Broussard would be promoted to CEO, effective at the start of next year.
IntercontinentalExchange (NYSE:ICE) reported a 1% decline in quarterly profit on account of lower trading volumes in over-the-counter North American natural gas and power contracts, as well as a decline in credit default swap transactions. The commodities exchange reported earnings of $1.79 per share, compared to $1.80 a year earlier, but topped estimates of $1.72 per share, according to Thomson Reuters.
Time Warner Cable (NYSE:TWC) reported third quarter earnings that missed Street views, as it lost more video subscribers, with shares down more than 6%. The second largest US cable television operator said net income rose to $808 million, or $2.60 per share, from $356 million, or $1.08 per share, a year earlier. Excluding special items, earnings were $1.41 per share, trailing the $1.43 per share analyst estimate.
Heavyweight bank HSBC (LON:HSBA) has set aside a further £500 mln (US$800 mln) to cover the costs of a potential fine for money laundering. In July, US authorities accused the bank of aiding “drug kingpins and rogue nations” in a 340-page report slamming its “pervasively polluted” culture.
The committee attacked the bank for allowing Middle Eastern terrorist financiers access to US dollars, while it also failed to control the laundering of Mexican drug money.
Today, the company said it is working towards an agreement with the authorities, which are expected to make a decision on the size of the fine in the coming weeks. The extra provisions were revealed in its third quarter results, which showed that pre-tax profits were down 51% to US$3.5 bln (£2.2 bln).
In other news, Silver Wheaton (TSE:SLW) (YSE:SLW) Monday said its third quarter profit and revenue fell as silver prices declined, but production increased 26 per cent as the company stood by its full year output forecast.
Netflix’s (NASDAQ:NFLX) shares rose 1.08 per cent Monday afternoon, after it announced a stockholder rights plan to protect against a potential hostile takeover of the company.
The plan was announced in response to activist investor Carl Icahn’s disclosure last week that he had acquired an almost 10 per cent stake in the company.Register here to be notified of future Proactive Investors Australia articles.
Just as Australians were having a punt on today’s Melbourne Cup so too were investors buying into stocks, despite the slow news day, with the ASX All Ords adding 10 points to end the day at 4,504 points. ASX Top Price/Volume Gainers:
After an initial fall early in the day, the All Ords picked up towards mid-day and closed up 10.3 points, or 0.2%, to 4,493.6 points.
Pre-election jitters weighed on Wall Street overnight Friday as investors await the outcome of the U.S. presidential elections. Stocks were sold off heavily and erased much of the previous trading day's gains following the positive employment data. In Australia, most analysts are backing a 25 point cut in the cash rate on Melbourne Cup Day. ASX Action Stocks:
Despite strong initial gains, the All Ords slipped below opening levels by mid-day before climbing up to just above its opening. Big miners were some of the largest gainers.
U.S. equity markets rallied overnight as economic data from the U.S. and manufacturing data from China buoyed investor hopes of a global recovery. The Dow is now up 13.5% over the last 12 months. Oilies buck the Aussie market slide:
A handful of stocks managed to escape the sea of red that was the ASX today with the oilies leading the charge. The All Ords wiped off 55 points to end the day at 4,480 points. U.S.
U.S. stock trading was somewhat muted overnight following a two-day unscheduled break. Volume was lower than expected as many investors are still without power in New York City, and transport is limited. The oil price rose overnight as supply became a focus due to concerns of eastern seaboard ports to carry crude oil.
Investors provided strong support for the top 20 listed ASX resource stocks today, with gainers outpacing fallers four-to-one. Leading the Small-Mid Cap. way was Sirius Resources which leapt 15.6%.
The New York Stock Exchange (NYSE) is scheduled to re-open Wednesday - with many traders breathing a sigh of relief due to it being the last day of the month - a time when traders square up positions. Although with many Manhattan subways still under water it will be a difficult commute for New Yorkers down to Wall Street. Across the pond in Europe - the major bourses rallied. Australian stocks hold fast to gains, U.S.
Australian stocks held firm to its early gains today despite a lack of direction from overseas as Hurricane Sandy forces U.S. markets to shutdown. The All Ords posted gains of 6 points to end the day at 4,506 points.06/11/12Monadelphous nabs $100M coal contract 06/11/12Coal miners benefit from Surat Basin Rail legislation 06/11/12China to offer subsidies to spur shale gas exploration 06/11/12Rio Tinto signs power supply deal in major milestone for Mongolia 05/11/12SVC Group associate defines emerald anomalies 02/11/12China refined copper consumption tipped to rise 5.5% 01/11/12China economy storms back 01/11/12Erin Resources scores on African jaunt 01/11/12China's CNOOC buys Gladstone gas stake for $1.
Just six weeks after the start of mill commissioning at the Nullagine Gold Mine, Millennium has begun full production of around 6,000 ounces per month generating over $10 million in gross revenue. Studies are already underway to further expand the production rate.
The funds raised of up to $7M (in a challenging equity market) will enable the completion of a Bankable Feasibility Study on its Boonanarring and Atlas mineral sands project in the North Perth Basin.
Drilling at Lionja has identified the possibility of hosting significant nickel mineralisation of a similar style and tenor to Ntaka Hill, with the early signs showing the potential to add size and scale to the future development of IMX's Ntaka Hill Nickel Sulphide Project.
Southern Hemisphere’s completion of US$5M placement at a 47% premium to the current share price is a significant event in today’s market. The farm-in deal with Lundin Mining will provide for an accelerated drilling campaign at the Llahuin Copper-Gold Project.
Optioning the tenement package in the Albany Fraser Orogen by Mining Projects Group has changed the face of the company. It has also changed the valuation dynamics in the short term given the intense interest in the Orogen. All companies gaining an entree into Fraser Range after Sirius' Nova discovery have seen their share price and market valuations pushed skyward.
The first aircore results from Vulcan are positive for ENT, with soil sampling also extending the copper/gold and multi-element footprint. Highlights included: 12 metres at 1.80g/t gold from 8 metres, including 4 metres at 3.55g/t gold.
Trenching and sampling at the Taub prospect in Mining Group’s Comval copper-gold project has resulted in the discovery of high potential gold bearing veins with further assays expected to help with drill targeting.
Ovoot ranks as the second highest coking coal reserve in Mongolia. It also ranks in the middle of Tier 1 coking coal assets based on reserves and marketable coal. With a 96-97% vitrinite content it identifies Ovoot as one of the highest value in-situ coal deposits globally.
Admiralty Resources is likely to commence iron ore production at its Mariposa and Soberana deposits along with defining a maiden resource for La Chulula in Chile next year.
Of particular interest, the sulphide intersections have been found 30‐40km north east of the Webb’s Silver project, which is the highest grade undeveloped silver project in Australia. The geochemical signature and associated geology is analogous to the Webbs Silver deposit. This highlights the regional potential of finding significant silver rich polymetallic deposits.HomeEventsCompaniesResearchMediaArchivesWork for usNewsletter Terms & Conditions· Privacy Policy· Copyright Notice Andrew McCrea is Sub Authorised Representative (SAR: 291331) of Proactive Investors Australia Pty Ltd (ABN: 19 132 787 654) which is a Corporate Auhorised Representative (CAR: 413802) of RM Capital Pty Ltd (AFSL: 221938).
Proactive Investors Australia is a part of the largest global financial investor network with offices in Australia, Europe, Asia and North America. inShare0 Email Email to a friend:To:
Tuesday, November 06, 2012 by Proactive Investors U.S. stocks were higher on the eve of the U.S. presidential elections, although investors are hesitant to make any big moves before the outcome is known. Gold was higher overnight - last trading at US$1685 an ounce. Many investors are keeping their money off the table until the fate of the U.S. presidential elections between incumbent President Barack Obama and Republican Mitt Romney has been decided.
The race is neck and neck, with investors hoping that the outcome is decided late tomorrow night, and that the decision is not dragged out for days. A decisive election, regardless of the outcome, could start an equities rally.
U.S. did however trend higher overnight, and by the close the Dow Jones had added 20 points (+0.15%) to 13,113, while the NASDAQ rallied 18 points (+0.59%) to 3000 (almost, currently exactly 2999.66).
On a slow economic news day the Institute for Supply Management reported its index of non-manufacturing activity fell to 54.2 in October, from 55.1 the previous month - but importantly a reading above 50 indicates expansion.
In corporate news, shares of Apple (NASDAQ:AAPL) rose after the company said it sold three million iPads in just three days since the launch of its new iPad mini and the updated 10-inch version of the iPad - double the previous first weekend milestone for the third generation iPad in March.
The company, however, did not specify how many units of each iPad it sold. Gene Munster of Piper Jaffray estimated that between 2 and 2.5 million units of the weekend’s sales were of the iPad mini, above his initial estimate of 1 to 1.5 million units.
It was also reported later in the day by Reuters that a federal judge threw out a lawsuit by Apple against Google (NASDAQ:GOOG). The suit alleged Google's Motorola patent licensing practices were unfair.
Shares of Tesla Motors (NASDAQ:TSLA) rose even after the company posted a wider loss than anticipated. On an adjusted basis, the California-based company's loss would have been $97 million, or 92 cents a share.
Analysts polled by FactSet were forecasting a loss of 89 cents a share on revenue of $55.7 million. The company also stood by its full year revenue forecast and in a letter to investors, it described the third quarter as a “fundamental turning point” since it is now able to mass produce around 100 cars per week — compared with five per week at the beginning of the quarter.
Health insurer Humana (NYSE:HUM) topped Street views when it reported its profit for the third quarter, and raised its full year earnings forecast. The company also announced two acquisitions, and said president Bruce Broussard would be promoted to CEO, effective at the start of next year.
IntercontinentalExchange (NYSE:ICE) reported a 1% decline in quarterly profit on account of lower trading volumes in over-the-counter North American natural gas and power contracts, as well as a decline in credit default swap transactions. The commodities exchange reported earnings of $1.79 per share, compared to $1.80 a year earlier, but topped estimates of $1.72 per share, according to Thomson Reuters.
Time Warner Cable (NYSE:TWC) reported third quarter earnings that missed Street views, as it lost more video subscribers, with shares down more than 6%. The second largest US cable television operator said net income rose to $808 million, or $2.60 per share, from $356 million, or $1.08 per share, a year earlier. Excluding special items, earnings were $1.41 per share, trailing the $1.43 per share analyst estimate.
Heavyweight bank HSBC (LON:HSBA) has set aside a further £500 mln (US$800 mln) to cover the costs of a potential fine for money laundering. In July, US authorities accused the bank of aiding “drug kingpins and rogue nations” in a 340-page report slamming its “pervasively polluted” culture.
The committee attacked the bank for allowing Middle Eastern terrorist financiers access to US dollars, while it also failed to control the laundering of Mexican drug money.
Today, the company said it is working towards an agreement with the authorities, which are expected to make a decision on the size of the fine in the coming weeks. The extra provisions were revealed in its third quarter results, which showed that pre-tax profits were down 51% to US$3.5 bln (£2.2 bln).
In other news, Silver Wheaton (TSE:SLW) (YSE:SLW) Monday said its third quarter profit and revenue fell as silver prices declined, but production increased 26 per cent as the company stood by its full year output forecast.
Netflix’s (NASDAQ:NFLX) shares rose 1.08 per cent Monday afternoon, after it announced a stockholder rights plan to protect against a potential hostile takeover of the company.
The plan was announced in response to activist investor Carl Icahn’s disclosure last week that he had acquired an almost 10 per cent stake in the company.Register here to be notified of future Proactive Investors Australia articles.
Just as Australians were having a punt on today’s Melbourne Cup so too were investors buying into stocks, despite the slow news day, with the ASX All Ords adding 10 points to end the day at 4,504 points. ASX Top Price/Volume Gainers:
After an initial fall early in the day, the All Ords picked up towards mid-day and closed up 10.3 points, or 0.2%, to 4,493.6 points.
Pre-election jitters weighed on Wall Street overnight Friday as investors await the outcome of the U.S. presidential elections. Stocks were sold off heavily and erased much of the previous trading day's gains following the positive employment data. In Australia, most analysts are backing a 25 point cut in the cash rate on Melbourne Cup Day. ASX Action Stocks:
Despite strong initial gains, the All Ords slipped below opening levels by mid-day before climbing up to just above its opening. Big miners were some of the largest gainers.
U.S. equity markets rallied overnight as economic data from the U.S. and manufacturing data from China buoyed investor hopes of a global recovery. The Dow is now up 13.5% over the last 12 months. Oilies buck the Aussie market slide:
A handful of stocks managed to escape the sea of red that was the ASX today with the oilies leading the charge. The All Ords wiped off 55 points to end the day at 4,480 points. U.S.
U.S. stock trading was somewhat muted overnight following a two-day unscheduled break. Volume was lower than expected as many investors are still without power in New York City, and transport is limited. The oil price rose overnight as supply became a focus due to concerns of eastern seaboard ports to carry crude oil.
Investors provided strong support for the top 20 listed ASX resource stocks today, with gainers outpacing fallers four-to-one. Leading the Small-Mid Cap. way was Sirius Resources which leapt 15.6%.
The New York Stock Exchange (NYSE) is scheduled to re-open Wednesday - with many traders breathing a sigh of relief due to it being the last day of the month - a time when traders square up positions. Although with many Manhattan subways still under water it will be a difficult commute for New Yorkers down to Wall Street. Across the pond in Europe - the major bourses rallied. Australian stocks hold fast to gains, U.S.
Australian stocks held firm to its early gains today despite a lack of direction from overseas as Hurricane Sandy forces U.S. markets to shutdown. The All Ords posted gains of 6 points to end the day at 4,506 points.06/11/12Monadelphous nabs $100M coal contract 06/11/12Coal miners benefit from Surat Basin Rail legislation 06/11/12China to offer subsidies to spur shale gas exploration 06/11/12Rio Tinto signs power supply deal in major milestone for Mongolia 05/11/12SVC Group associate defines emerald anomalies 02/11/12China refined copper consumption tipped to rise 5.5% 01/11/12China economy storms back 01/11/12Erin Resources scores on African jaunt 01/11/12China's CNOOC buys Gladstone gas stake for $1.
Just six weeks after the start of mill commissioning at the Nullagine Gold Mine, Millennium has begun full production of around 6,000 ounces per month generating over $10 million in gross revenue. Studies are already underway to further expand the production rate.
The funds raised of up to $7M (in a challenging equity market) will enable the completion of a Bankable Feasibility Study on its Boonanarring and Atlas mineral sands project in the North Perth Basin.
Drilling at Lionja has identified the possibility of hosting significant nickel mineralisation of a similar style and tenor to Ntaka Hill, with the early signs showing the potential to add size and scale to the future development of IMX's Ntaka Hill Nickel Sulphide Project.
Southern Hemisphere’s completion of US$5M placement at a 47% premium to the current share price is a significant event in today’s market. The farm-in deal with Lundin Mining will provide for an accelerated drilling campaign at the Llahuin Copper-Gold Project.
Optioning the tenement package in the Albany Fraser Orogen by Mining Projects Group has changed the face of the company. It has also changed the valuation dynamics in the short term given the intense interest in the Orogen. All companies gaining an entree into Fraser Range after Sirius' Nova discovery have seen their share price and market valuations pushed skyward.
The first aircore results from Vulcan are positive for ENT, with soil sampling also extending the copper/gold and multi-element footprint. Highlights included: 12 metres at 1.80g/t gold from 8 metres, including 4 metres at 3.55g/t gold.
Trenching and sampling at the Taub prospect in Mining Group’s Comval copper-gold project has resulted in the discovery of high potential gold bearing veins with further assays expected to help with drill targeting.
Ovoot ranks as the second highest coking coal reserve in Mongolia. It also ranks in the middle of Tier 1 coking coal assets based on reserves and marketable coal. With a 96-97% vitrinite content it identifies Ovoot as one of the highest value in-situ coal deposits globally.
Admiralty Resources is likely to commence iron ore production at its Mariposa and Soberana deposits along with defining a maiden resource for La Chulula in Chile next year.
Of particular interest, the sulphide intersections have been found 30‐40km north east of the Webb’s Silver project, which is the highest grade undeveloped silver project in Australia. The geochemical signature and associated geology is analogous to the Webbs Silver deposit. This highlights the regional potential of finding significant silver rich polymetallic deposits.HomeEventsCompaniesResearchMediaArchivesWork for usNewsletter Terms & Conditions· Privacy Policy· Copyright Notice Andrew McCrea is Sub Authorised Representative (SAR: 291331) of Proactive Investors Australia Pty Ltd (ABN: 19 132 787 654) which is a Corporate Auhorised Representative (CAR: 413802) of RM Capital Pty Ltd (AFSL: 221938).
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