Corporate Finance Balance Sheets

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  • The company wants to slash $5 billion to $10 billion in debt through asset sales and joint ventures. "We face serious challenges because of what's going on in the marketplace and because of the situation with our balance sheet," Freeport Chief Executive Officer Richard Adkerson said on a conference call. Freeport stock jumped 3.8 percent at $4.09, but was off a...

  • Sprint, majority owned by Japan's SoftBank Group Corp, expects to post an operating profit, before earnings and taxes, for its fiscal year ending March, reversing its previous forecast of a loss. Sprint's plan to cut about $2 billion to $2.5 billion in costs is on track, executives said on an earnings call. The company reported cash and cash equivalents of $2.2...

  • Kinder Morgan shares surged as much as 20 percent to $14.45 in morning trading on Thursday, a day after the company reported a fourth-quarter adjusted profit that beat some analysts' expectations. "We can delever the balance sheet, internally fund our growth capital needs and/or return cash to our shareholders through either increasing the dividend and/or...

  • Is a $142 price target on Netflix realistic? Tuesday, 19 Jan 2016 | 9:33 PM ET
    Is a $142 price target on Netflix realistic?

    David Miller, media and entertainment analyst at Topeka Capital Markets, explains why he has a bullish $142 price target on Netflix stock.

  • BHP's caught up in commodity slump: Analyst Tuesday, 19 Jan 2016 | 8:08 PM ET
    BHP's caught up in commodity slump: Analyst

    Peter Esho, chief market analyst at Invast, says BHP Billiton will have to cut its dividend and probably also raise capital in the second half.

  • By Sruthi Shankar and Richa Naidu. Walls Fargo- whose latest balance sheet showed it had replaced Citigroup Inc as the third-largest U.S. bank- managed to increase revenue from mortgage banking for the first time in three quarters in the three months ended Dec. 31. But its exposure to energy loans meant provisions for credit losses jumped by about $346 million...

  • MELBOURNE, Jan 15- Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by $7.2 billion on a bleak outlook for oil and gas prices, cementing expectations it will be forced to cut its dividend for the first time in over 25 years. "Simply put, the company can't afford to maintain its dividend policy without taking the balance sheet...

  • LONDON, Jan 14- If the first two weeks are anything to go by, this is going to be an ugly year for nickel producers. Canada's Sherritt International and Japan's Sumitomo Corp have just announced massive write-downs against their Ambatovy nickel assets in Madagascar. The total impairment will be $2.4 billion on a 100 percent basis, according to Sherritt, based on a...

  • *Fourth-qtr EPS $1.32 vs. est. Jan 14- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported a better-than-expected quarterly profit for the final quarter of the year as a tight lid on expenses and a smaller legal bill made up for sluggish revenue growth. U.S. banks, like their global counterparts, have had a tough year as falling oil prices and worries about...

  • CHICAGO, Jan 11- Arch Coal, the second-largest U.S. coal miner, filed for Chapter 11 bankruptcy protection on Monday with a plan to cut $4.5 billion in debt from its balance sheet in the midst of a prolonged downturn in the coal industry. Missouri- based Arch Coal has been saddled with debt since its $3.4 billion acquisition of International Coal Group in 2011, which...

  • SAN FRANCISCO, Jan 7- Federal Reserve policymakers appear to have succeeded in their push last month to convince investors the central bank will hold on to its $4.5- trillion portfolio at least until next year, a Fed survey showed on Thursday. The New York Fed's survey published on Thursday showed that before last month's rate hike most Wall Street dealers had...

  • NEW YORK, Dec 29- Moody's Investors Service downgraded its credit rating on Noble Group Ltd on Tuesday to junk status with a negative outlook due to concerns over the Singapore- listed commodity trader's liquidity, profitability and cash flow. "The downgrade of Noble's ratings reflects Moody's concerns over the company's liquidity," Joe Morrison, a Moody's vice...

  • NEW YORK, Dec 29- Moody's Investors Service downgraded its credit rating on Noble Group Ltd on Tuesday to junk status with a negative outlook due to concerns over the Singapore- listed commodity trader's liquidity, profitability and cash flow. "The downgrade of Noble's ratings reflects Moody's concerns over the company's liquidity," Joe Morrison, a Moody's Vice...

  • "In particular, in almost all cases, banks voluntarily provided liquidity where they were not committed to, ultimately leading in most cases to absorption of all the vehicles or bringing their assets onto the bank's balance sheet," the Basel committee said. The Basel committee said its proposals focused on how to identify and measure "step-in" risk.

  • NEW YORK, Dec 16- No sooner will the Federal Reserve raise U.S. interest rates than it must make more decisions on how to drain markets awash in cash and, further down the road, how to shrink its swollen balance sheet. Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds, and the banks bursting with $2.6 trillion in reserves.

  • NEW YORK, Dec 16- No sooner will the Federal Reserve raise U.S. interest rates than it must make more decisions on how to drain markets awash in cash and, further down the road, how to shrink its swollen balance sheet. The New York Fed, which handles the mechanics of monetary policy three blocks from Wall Street, will turn on Thursday to a suite of lightly tested tools to...

  • SINGAPORE, Dec 16- As investors brace for this week's historic U.S. interest rate decision, central banks in Asia's emerging markets will be standing by a quarter of a trillion dollars in emergency liquidity lines with China and Japan to prevent routs in their currencies. "I would expect China and even Japan to be much more proactive should financial uncertainty...

  • *COFCO in talks on new deal with Noble Group. SINGAPORE/ LONDON, Dec 15- China's food giant COFCO is in advanced talks to take full ownership of Noble Group's agribusiness, three sources said, a move which would cement its newfound strength in global agriculture markets and help bolster Noble's balance sheet. The sources said COFCO was in talks to buy the remaining...

  • NEW YORK/ SAN FRANCISCO, Dec 14- Once the Federal Reserve lifts interest rates from near zero, likely this week, the focus will turn to the other legacy of the crisis-era policies: the Fed's bloated balance sheet. The prevailing view is that the U.S. central bank's $4.5 trillion portfolio, swollen by bond purchases aimed at stimulating the economy, will have to shrink...

  • Dec 10- ConocoPhillips, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. ConocoPhillips expects to spend a bulk of next year's budget on U.S. shale fields in Texas and North Dakota, and on drilling operations in...