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☆ Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more
▼ + stars: | 2023-03-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

REUTERS/Mike SegarCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. Citi , Bank of America , Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Moderna — The biotechnology company's shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. Spot gold passed the key level of $1,900 as investors bet the Federal Reserve may tone down rate hikes on the heels of Silicon Valley Bank's collapse. Over the weekend, NBC News reported that the e-commerce company warned sellers that the collapse of Silicon Valley Bank is causing delays in processing payments.

☆ Gold miner Newmont misses quarterly profit estimates
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Newmont Corp (NEM.N) on Thursday fell short of Wall Street estimates for fourth-quarter profit, as the world's largest gold miner struggled with lower prices and increased costs. Average realized gold prices fell 2.2% to $1,758 per ounce in the quarter from a year earlier, while all-in sustaining cost for gold, an industry metric that reflects total expenses associated with production, rose 15% to $1,215 per ounce. Earlier this month, Australia's Newcrest Mining Ltd (NCM.AX) rebuffed Newmont's $16.9 billion takeover bid, but left the door open for a better offer. A source familiar with management's thinking previously told Reuters that Newmont was open to sweetening its offer. Denver, Colorado-based Newmont said attributable gold production for the fourth quarter rose marginally to 1.63 million ounces from 1.62 million ounces in the previous year quarter.

Newcrest, which was spun out of Newmont in the 1990s, rejected the offer last week as too low. But one of Newmont's largest shareholders told Reuters it would not want the company overpaying for its rival. Palmer said that regardless of the outcome of the Newcrest bid, Newmont will develop its 16 billion pounds of copper reserves. Newmont said attributable gold production for the fourth quarter edged up to 1.63 million ounces from 1.62 million ounces in the comparable period a year ago. For 2023, Newmont has given a production guidance between 5.7 million and 6.3 million ounces of gold and guided for an all-in sustaining cost between $1,150 and $1,250 per ounce.

☆ Morning Bid: Blue chips cheered up
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +5 min

[1/2] The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days." The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week. And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.

☆ These highly rated stocks offer strong dividends
▼ + stars: | 2023-02-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As higher interest rates continue to weigh on markets, investors can pick out some highly-rated dividend stocks to bolster their portfolios. Dividend stocks can offer investors some stability during periods of volatility. Given this, we screened for highly-rated stocks that offer strong dividends, using Morningstar data. These names have a 5 star rating from Morningstar and boast a forward dividend yield of 3% or more. The gaming and consumer products company has dipped slightly this year, but has a 4.71% forward dividend yield.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

The Newcrest acquisition by Newmont, if successful, could result in the enlarged company shedding some assets. Bristow stuck to the company's 'build, not buy' approach and ruled out the possibility that Barrick would launch a counter bid for Newcrest. Newmont's offer implied a 21% premium to Newcrest's share price. Barrick last month reported a 13.4% rise in gold production as access to high-grade ore at its Cortez and Carlin mines in Nevada powered a "strong finish" to the fourth quarter. Production for the year, however, was 4.1 million ounces of gold, down from 4.4 million ounces in 2021.

☆ Here's how to invest in 3 'tectonic shifts' that will shape markets over the next few years, according to BofA
▼ + stars: | 2023-02-10 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

The firm walked investors through patterns in interest rates and government spending. From 2008 to last year, ultra-low interest rates and central bank policy made for an era of easy money. They said that will favor value stocks over growth stocks, and will make dividend-paying stocks and alternative investments more appealing. It's also a potential economic challenge, as national debt levels have risen at the same time that interest rates have increased. "We have entered a bull market in state intervention and activism," Quinlan and Sanfilippo wrote.

☆ Newmont's bid for Australian gold miner Newcrest 'makes a lot of sense,' says asset management firm
▼ + stars: | 2023-02-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNewmont's bid for Australian gold miner Newcrest 'makes a lot of sense,' says asset management firmGeorge Boubouras of K2 Asset Management says the deal makes a lot of sense from Newmont's perspective, and it would alleviate Newcrest's "capex burden."

☆ James Abate's stock fund has nearly doubled its benchmark over 3 tumultuous years. Here's how he says investors should get ready for potential black swan events that could shape 2023.
▼ + stars: | 2023-02-07 | by ( Marley Jay | Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Kiplinger rates the fund as the best US large-company stock fund from 2020 to 2022. That's not the most encouraging backdrop for stocks, especially since Abate said investors will be less comfortable taking big risks. He added that while the beginning of 2023 has been the opposite of 2022, that's not going to last. For the first black swan, Abate pointed towards the escalation of the Russian-Ukraine crisis, including the recent increase in air defense activity, ground troops, and the shipment of armored vehicles, tanks, and fighter aircraft. As for the second black swan, Abate also highlighted the Japanese government's "unprecedented" and "unsustainable" buying of the yen to boost the currency against others like the dollar.

☆ Gold giant Newmont’s $16.9 billion bid for Australia’s Newcrest clouded by deal doubts
▼ + stars: | 2023-02-06 | by ( ) edition.cnn.com time to read: +4 min

The Australian gold miner said that it was considering the all-share proposal in a filing that was a response to media speculation over the weekend. The initial feedback from shareholders is that they want a higher price, according to a person familiar with Newcrest’s deliberations. Newcrest shareholders would receive 0.380 Newmont shares for every Newcrest share, giving them a 30% stake in the enlarged miner. It is a 4.7% improvement from a previous 0.363 per share offer that Newcrest already rejected for not providing enough value to shareholders, Newcrest disclosed on Monday. Morgan Stanley is looking towards a bull case of spot gold reaching $2,160 in the fourth quarter, up from $1,866 an ounce.

[1/2] A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. Money market participants see the Fed's terminal rate to settle above 5% by May followed by rate cuts in September. More than 69% of the S&P 500 firms have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.8%. All of the 11 major S&P 500 indexes were in the red with the real-estate sector (.SPLRCR) slumping 1.5%.

☆ Gold miner unearths risky M&A seam
▼ + stars: | 2023-02-06 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

That’s precisely what Newmont (NEM.N) boss Tom Palmer has just done, offering $17 billion in stock for Australian gold excavator Newcrest Mining (NCM.AX). At present Newmont is offering a 22% premium to the target’s undisturbed share price, after Newcrest rejected an earlier 17% boost. What Canada’s Barrick Gold (ABX.TO) does in response is the main question. It is the world’s largest gold miner, which at $40 billion sports a market capitalisation 25% higher than Barrick’s. Agnico Eagle Mines (AEM.TO), the $24 billion third-largest miner of the ore, may want to dig in, too.

☆ Newmont Proposes $17 Billion Takeover of Australia’s Newcrest Mining
▼ + stars: | 2023-02-05 | by ( Rhiannon Hoyle | ) www.wsj.com time to read: 1 min

Newmont, based in Colorado, is one of the world’s largest producers of gold. ADELAIDE, Australia— Newmont Corp. has made a roughly $17 billion offer to acquire Australia’s Newcrest Mining Ltd., aiming to seal one of the biggest deals for a global gold miner as the industry struggles to make large new discoveries of the precious metal. Newmont, based in Colorado and one of the world’s largest producers of gold, on Sunday submitted a conditional and nonbinding indicative proposal to acquire Newcrest, Australia’s largest listed gold producer. Newmont said it would offer 0.380 Newmont shares for each Newcrest share held, according to Newcrest.

MELBOURNE, Feb 6 (Reuters) - Global gold miner Newmont Corporation (NEM.N) has made an indicative $16.9 billion takeover offer for Australia's No. 1 goldminer Newcrest Mining Ltd. (NCM.AX), Newcrest said on Monday in a deal that would leverage both miners' operations in Australia and Canada. The offer price implies a premium of about 21% to Newcrest's last closing value of A$22.450, where Newcrest shareholders will receive 0.380 Newmont shares per every Newcrest share. "The Newcrest board, together with its financial and legal advisers, is considering the indicative proposal," the Australian gold miner said. The offer follows a rejected stock bid of 0.363 Newmont share per every Newcrest share, which the Australian gold miner consider "would not deliver sufficiently compelling value to Newcrest shareholders and on that basis".

☆ NYSE's Tuesday trading glitch explained — Why some of the trades may be busted
▼ + stars: | 2023-01-24 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Dozens of stocks opened at prices well above or below their prior day closing prices. Every day, stocks open at the NYSE at or near 9:30 a.m. There is only a single opening price, which is determined by thousands of orders to buy and sell individual stocks. A single price is then quoted at the open and all orders are aggregated into a single opening "auction print." Most likely, the "correct" opening price will be the price when the stocks reopened.

☆ Stocks making the biggest moves midday: Gilead Sciences, Moderna, Tesla and more
▼ + stars: | 2022-12-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

A sign is posted in front of the Gilead Sciences headquarters on April 29, 2020 in Foster City, California. Check out the companies making the biggest moves midday:General Mills — General Mills dropped 4.2%, despite reporting better-than-expected revenue and profit for the last quarter. Gilead Sciences — Gilead Sciences sank 2.4% after announcing its Kite unit would acquire biotech company Tmunity Therapeutics. Tesla – Shares of Tesla sank 5.3% after Evercore ISI lowered its price target on them, citing concerns as the stock failed to hold a key level. Arch Capital — The Bermuda-based insurance company rose 2.5%.

☆ Ghana orders mining firms to sell 20% of refined gold to c.bank
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

ACCRA, Nov 25 (Reuters) - Ghana has ordered all large-scale mining companies to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday. All community mining schemes and licensed small-scale miners will also have to sell their gold to the government through PMMC from the same date onwards. "The gold to be purchased by the Bank of Ghana and the PMMC will be in cedis at spot price with no discounts," he added. However, Bank of Ghana Communications Officer Sam Opoku told Reuters he could not confirm or deny whether Bawumia's order was being considered. Gold miners Newmont Corp (NEM.N), Gold Fields Ltd (GFIJ.J), AngloGold Ashanti Ltd (ANGJ.J), Galiano Gold Inc (GAU.TO) and Asante Gold Corp (ASE.CD), all of which have gold mines in Ghana, did not immediately respond to Reuters' requests for comment.

SummarySummary Companies Barrick now expects to exceed 2022 cost guidanceQ3 profit down 30% as gold production falls by 9%All-in sustaining costs up 22.7% from last yearNov 3 (Reuters) - Barrick Gold Corp (ABX.TO), shares hit their lowest level since March 2020 on Thursday after the world's second-biggest gold miner reported a 30.1% drop in third-quarter profit due to weak production and higher costs. Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years. The cost increase was largely down to a 9% fall in gold production from 1.09 million ounces to 988,000 ounces, CEO Mark Bristow told Reuters in an interview. Barrick remains on track to achieve its 2022 production guidance, Bristow said in a statement. Gold prices declined 8% during the third quarter as global central banks raised interest rates to battle surging inflation.

☆ Newmont CEO sees inflation pressure easing into the fourth quarter
▼ + stars: | 2022-11-01 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A small toy figure and gold imitation are seen in front of the Newmont logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration(Reuters) -Newmont Corp’s chief executive assured investors that inflationary pressures were abating and should help the gold miner improve performance in the current quarter, after lower gold prices and surging costs dented third-quarter earnings. “We are starting to see some relief across energy and consumable costs coming into the fourth quarter, and then seeing that play out into 2023,” said CEO Tom Palmer. The company is also seeing high levels of cost inflation on the services it contracts during mining, Palmer said. Gold prices were down 8% in the third quarter, their worst performance since March 2021, primarily on hawkish interest-rate hikes by central banks around the world in the face of unrelenting inflation.

☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
▼ + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Finance Chiefs Switch Jobs, Retire as Companies Face Uncertainties
▼ + stars: | 2022-10-23 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +7 min

This compares with 8% in September 2021 and 11% in the same month in 2020, Russell Reynolds said. It is also leading some companies to prepare for a potential downturn by looking for CFOs with experience in cutting costs or restructuring operations, they added. Photo: NordstromNordstrom, meanwhile, last Monday said finance chief Anne Bramman will leave in December after more than five years in the role. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. That trend is continuing, with the slowing economy forcing finance chiefs into thinking about their next steps, she said.

Baker is the first oilfield services firm to report quarterly results, and its beat bodes well for rivals Schlumberger (SLB.N) and Halliburton (HAL.N), both of which report in coming days. On an adjusted basis, Baker Hughes posted a profit of $264 million, or 26 cents a share, up from $141 million a year earlier. The profit topped analysts' forecasts for around 24 cents per share, according to Refinitiv data. The company anticipates double-digit revenue growth in its international oilfield services business in 2023 and modest growth in its North America business, driven largely by public firms. Its oilfield business segments accounted for about 63% of its revenue during the quarter through September.

☆ Baker Hughes taps Newmont's Nancy Buese as CFO
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

Oct 19 (Reuters) - Oilfield services firm Baker Hughes Co (BKR.O) said on Wednesday Nancy Buese will take over as chief financial officer, effective Nov. 2, replacing Brian Worrell. Buese is currently gold miner Newmont Corp's (NEM.N) CFO and executive vice president. Baker Hughes also reported a higher-than-expected third quarter adjusted profit on Wednesday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ruhi Soni in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Baker Hughes Recruits New CFO as It Seeks Cost Savings
▼ + stars: | 2022-10-19 | by ( Mark Maurer | ) www.wsj.com time to read: +3 min

Baker Hughes Co. hired a gold-production executive to be its next finance chief as the oilfield-services company seeks to reduce costs and boost profit through a reorganization into two business units. Ms. Buese is set to succeed Brian Worrell, who was Baker Hughes’s CFO since 2017. Baker Hughes in recent months has faced high supply-chain costs and volatility in global currencies. Baker Hughes named Nancy Buese as chief financial officer, effective Nov. 2. Photo: Baker Hughes Co.

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