Even as Australia’s mining sector struggles with a slowdown in China, analysts polled by CNBC still think there are some some diamonds in the rough.» Read More
BOSTON, Jan 23- When Pimco co-founder Bill Gross' heir apparent abruptly stepped down this week, the news illustrated just how reliant the company is on its star manager, an uncomfortable fact for investors who worry the 69- year-old has not done enough to find a replacement.
Jan 22- Freeport McMoRan Copper& Gold Inc said on Wednesday it would "defend its rights" in Indonesia against a new export tax but was confident of resolving its dispute with the government without going to international arbitration.
CHICAGO, Jan 21- For most investors, portfolio rebalancing is an unnatural investment act. You sell off winners to buy laggards- an unsatisfying move. Over the long haul, though, rebalancing makes sense because it lowers market risk and keeps you right with your investment goals: You'll reap a higher annualized return if you do it on a regular basis.
*Rules at SEC and ECB bolster big three. LONDON, Jan 20- For all the outrage over the role of the big three credit-rating firms in the financial crisis, they show no sign of losing their grip on the highly profitable industry.
NEW YORK, Jan 20- After years of hiding under their desks, short sellers are re-emerging- slowly. Investors who make a living betting that stock prices will fall are happy to forget 2013: The S&P 500 gained nearly 30 percent while Credit Suisse's index of hedge funds with a dedicated short bias lost 25 percent.
After Target's data breach, investors and analysts are now circling companies that could benefit from a major upgrade in credit card technology.
NEW YORK, Jan 19- A data breach at Target Corp that exposed the credit card information of tens of millions of holiday shoppers was a major black eye for the retailer.
*Expects fourth-quarter earnings/shr $1.25 vs est $1.43. *Sees 2013 earnings/shr $4.57 vs forecast $4.65- $4.85.
Jan 17- General Electric Co posted in-line overall quarterly earnings on Friday but disappointed investors by failing to meet its full-year profit margin goal due to delayed wind turbine deliveries and poor energy management results. Shares in the U.S. conglomerate fell 2.5 percent in morning trading to $26.52, against a broadly flat market.
Jan 15- A U.S. jury strengthened Edwards Lifesciences Corp's efforts to protect sales of the company's transcatheter heart valve implants, by ruling that a competing product from Medtronic Inc infringes its patent.
Jan 14- GameStop Corp, the world's largest videogame retailer, warned of lower-than-expected profit as sales sagged for games played on older versions of Xbox and PlayStation consoles. Morningstar analyst Liang Feng said too much of a drop in sales of old console software could hurt GameStop as it is historically the company's strongest business.
Jan 14- Intuitive Surgical Inc estimated fourth-quarter revenue higher than analysts' estimates as sales of its da Vinci surgical robot rose outside the United States. Intuitive estimated total revenue of $576 million in the quarter ended Dec. 31, higher than analysts' average forecast of $548.6 million, according to Thomson Reuters I/B/E/S.
NEW YORK, Jan 14- Exchange operator Nasdaq OMX Group and index provider S&P Dow Jones Indices said they are interested in acquisitions to grow their index businesses, in a sign the sector could see a wave of deals as investors pour tens of billions of dollars into portfolios that track benchmarks.
"I'm optimistic," said Diane Swonk, chief economist for Mesirow Financial in Chicago, who predicts three-percent GDP growth and the creation of up to three million jobs this year. "I haven't felt bullish in a long time," Swonk said at the annual economic outlook luncheon of the Executive Club of Chicago on Jan. 9.
*Nine out of 10 worst UK funds in 2013 focused on gold. It comes as no surprise then that nine of the 10 worst-performing funds in the UK in 2013, and six out of the 10 worst in the United States made bets on gold equities. At the top of that list is the Junior Gold fund, which lost almost 66 percent- a level that even its manager, Angelos Damaskos, describes as "eye-watering".
Jan 13- Lexicon Pharmaceuticals Inc said its chief executive would leave and it would cut its workforce by about 45 percent, as it moves its focus away from drug discovery to completing the studies of its drugs in late-stage development. The company said Arthur Sands, CEO since 1995 and a co-founder, intends to develop a succession plan with the board.
That idea has caught on, especially recently: In 2013, everyone from 401 providers to mom and pop embraced index funds, sending almost $2 into them for every $1 they invested in actively managed funds, according to Morningstar.
Jan 8- U.S. health regulators on Wednesday approved an AstraZeneca drug from a new class of medicines to treat type 2 diabetes after previously rejecting it over safety concerns. The medicine was co-developed by Bristol-Myers Squibb Co and AstraZeneca.
The company, which supplies shirts, trousers and other apparel for global retailers including Wal-Mart Inc, is one of the biggest players in Bangladesh's $22 billion garment industry that has seen orders cut nearly in half in the last three months- the worst drop in two decades, according to the Bangladesh Garment Manufacturers& Exporters Association.
NEW YORK, Jan 2- U.S. "There is a meaningful bearish sentiment in bonds right now, but we might see relief in the next few days," said Robbert Van Batenburg, director of market strategy at Newedge USA LLC in New York.