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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, […]

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy (SN) received an investment-rating downgrade Wednesday to sector perform from outperform from RBC Capital Markets following the oil-and-gas explorer and producer’s Tuesday report of a wider-than-expected Q2 loss. Sanchez also reported Tuesday that it has “engaged a leading global consulting firm to conduct an assessment of its performance across all aspects of the business, with a specific focus […]

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Tesla (TSLA) Chief Executive Elon Musk tweeted on Tuesday that he is considering taking the company private at $420 a share, a 22% premium to its closing price the day before, and given his demeanor it seems there may be “significant” funding already lined up, RBC Capital Markets said in a note to clients. “Elon’s tone and messaging regarding a […]

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

US Treasury prices dipped lower, reversing earlier increases seen in concert with core European bonds and Japanese government bonds (JGBs). The two-year Treasury was unchanged yielding 2.674%, with the benchmark 10-year flat at 2.973%. The UK Gilt was pacing Europe with a small 0.7 basis point dip to 1.315% while the German Bund was flat at 0.404%, and the JGB […]

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health (CVS) got a boost on Wednesday morning after reporting second-quarter adjusted earnings and sales that beat expectations. Second-quarter adjusted earnings came in at $1.69 a share, topping forecasts from Capital IQ for $1.61 on a normalized basis. The company said GAAP loss was $2.52 a share due to a one-time $3.9 billion, or $3.85 per share, goodwill impairment […]

Henry Schein Gets Price Target Bump at Barrington

Henry Schein Gets Price Target Bump at Barrington

Henry Schein (HSIC) shares were lower on Tuesday, but that didn’t stop Barrington Research analysts from raising its price target on the stock after the company reported better-than-expected financial results. The health care products company on Monday reported second-quarter adjusted earnings of $1.04 per diluted share, up from $0.88 a share last year and topping the $1.01 average estimate from […]

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications (DISCA) released disappointing quarterly results on Tuesday that sent its stock price into the red, with the broadcaster reporting “tepid underlying growth trends,” according to Pivotal Research. Adjusted earnings per diluted share slipped to $0.66 from $0.68, missing the consensus on Capital IQ for $0.86 a share. Revenue jumped 63% to $2.85 billion, in line with the Street’s […]

Three-Year Auction Outlooks According to Mizuho

Three-Year Auction Outlooks According to Mizuho

Mizuho said the 3Y is cheaper than last month’s stop. The 2/3/5 fly is around the same level as last month’s auction. While dealers had to take down over 50% of that auction and 42.9% the last five auctions, it is possible the outright level and the 2.75% coupon draw out some buyers and dealers take down to go back […]

European Equity Benchmarks Close Higher; Mining, Auto, Energy Stocks Boost Markets

European Equity Benchmarks Close Higher; Mining, Auto, Energy Stocks Boost Markets

The broad-based major European indices closed higher in Tuesday trading as mining, automotive and energy stocks pushed the markets into positive territory. In economic news, there was widespread growth across all monitored sectors at the start of Q3, according to the latest Europe Sector PMI data from IHS Markit. Technology continued to lead growth at the broad sector level, with […]