Business

European ADRs Move Lower in Thursday Trading

European ADRs Move Lower in Thursday Trading

American Depository Receipts of European stocks were trading 0.48% lower at 138.03 on the Bank of New York Mellon Europe ADR Index on Thursday. In continental Europe, the gainers were led by geophysical equipment company CGG (CGG), and 3D printer company voxeljet (VJET), which rose 3% and 2.4% respectively. They were followed by gene therapy company Cellectis (CLLS), and marketing […]

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto (RIO) is exploring an option to publicly list its Iron Ore Company of Canada business as the mining giant aims to improve revenue from its flagship Australian assets, Reuters reported, citing banking and industry sources. Iron Ore is one of Canada’s biggest producers of iron ore. In 2017, it generated revenue of $1.9 billion. It is 59% owned […]

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City (PRTY) will start selling some of its products on e-commerce giant Amazon.com (AMZN), extending online sales from its own website while also reporting slightly better-than-expected results for the second quarter. The Elmsford, New York-based decorations company said it will start the pilot program before this year’s Halloween season and will “initially offer a curated product assortment focused largely […]

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street pre-market Wednesday is steady, with US stock-index futures pointing to an opening bell largely unchanged from Tuesday’s close. European bourses are trading mildly higher, and Asian exchanges closed choppily on trade concerns. China reported a near-record $28.9 billion trade surplus in July with the US. The US will impose a 25% tariff on another $16 billion worth of […]

Glencore Trains Focus on Shareholder Returns After Operating Earnings Surge

Glencore Trains Focus on Shareholder Returns After Operating Earnings Surge

Glencore (GLEN.L), one of the biggest mining and commodities trading firms in the world, reported early Wednesday that adjusted operating earnings surged to a record in the first half, while noting that its near-term focus will be on deleveraging and shareholder returns/buybacks funded through cash generation. Group revenue climbed to $108.55 billion in the six months that ended June 30, […]

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman reiterates its supportive outlook on Suncor Energy (SU), Canada Pacific (CP), Phillips 66 (PSX) and Marathon Petroleum (MRO) as these companies will benefit from widening Western Canadian heavy crude oil differentials. Western Canadian heavy crude oil differentials have re-widened from a period of seasonally tighter spreads in the second quarter amid a faster-than-anticipated production ramp, planned refining downtime and […]

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health (CAH) received a price-target reduction from RBC Capital Markets after the health-care services and products company reported fiscal Q4 results above analysts’ expectations Monday but the midpoint of its guidance range for fiscal 2019 adjusted earnings per share missed analysts’ mean estimate. The new price target from RBC is $56 per share, down from $61. The stock closed […]