(Reuters) - Health insurer Aetna Inc (AET.N), which has agreed to be bought by CVS Health Inc (CVS.N), reported a better-than-expected first-quarter profit on Tuesday, largely due to lower medical costs.U.S. drugstore operator CVS agreed in December to acquire Aetna for $69 billion seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies.Aetna’s net inc...Read More
The latest news and price moves to start the Asian day on Wednesday May 2. Base metals on the London Metal Exchange were split at the close of trading on Tuesday May 1, with copper, zinc and lead ending the day lower due to pressure from a stronger dollar index. Read more in our live futures report.Here are how prices looked at Tuesday's close:Spot zinc concentrate treatment charges...Read More
May 1 (Reuters) - Drugmaker Merck & Co posted a 52.5 percent fall in first-quarter profit on Tuesday, hurt by hefty charge related to its collaboration with Eisai Co Ltd.Net income fell to $736 million, or 27 cents per share, in the first quarter from $1.55 billion, or 56 cents per share, a year earlier.Net revenue rose to $10.04 billion from $9.43 billion. (Reporting by Tamara Mathias in Beng...Read More
The latest metal markets news and price moves to start the North American day on Tuesday May 1. Base metals prices on the London Metal Exchange were broadly lower during morning trading, with tin the only metal to buck the trend.The complex was trading at lower volumes over the morning, with Chinese markets closed for a national holiday.Here is how the LME base metals complex looked at 1pm London...Read More
(Reuters) - Pfizer Inc’s (PFE.N) quarterly revenue missed analysts’ estimates on Tuesday, hurt by lower-than-expected sales of blockbuster breast cancer drug Ibrance and arthritis drug Xeljanz.Ibrance raked in sales of $933 million in the first quarter, up 37.4 percent from a year earlier, but missed analysts’ estimates of $956.6 million, according to Thomson Reuters I/B/E/S.The...Read More
(Reuters) - Plane maker Boeing Co (BA.N) said on Tuesday it will buy aerospace parts company KLX Inc (KLXI.O) for about $3.2 billion in cash to expand its aircraft services business.The $63-per-share deal gives KLX an enterprise value of $4.25 billion, including about $1 billion of net debt.The acquisition is contingent upon the successful divestment and separation of KLX’s Energy Services G...Read More
LONDON (Reuters) - Oil prices slid on Tuesday as the dollar remained near a four-month high, but worries that U.S. President Donald Trump will pull out of the Iran nuclear deal underpinned the market.Brent crude LCOc1 for July delivery was trading 58 cents lower at $74.11 by 1157 GMT. The June contract expired on Monday, settling up 53 cents at $75.17.U.S. West Texas Intermediate crude for June de...Read More
(Reuters) - U.S. grains merchant Archer Daniels Midland Co (ADM.N) on Tuesday reported a 16 percent increase in quarterly profit on higher margins from soybean processing and a significant boost in global trade volumes, sending its stock price to a 52-week high in premarket trading.ADM has been trying to diversify into higher-margin sectors, such as food ingredients and aquaculture feed, to compen...Read More
OTTAWA — Business groups are warning that a recent motion introduced by the Minister of Transport could put shippers at a further disadvantage to Canada’s rail firms, leaving companies worse off than before Ottawa introduced its sweeping transportation bill last year.A coalition of business associations said the minister’s rejection of two key Senate amendments reinforces the con...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday May 1, coming under pressure from a stronger dollar index.Zinc was the largest faller of the day, down 2.5%. It bottomed out at $3,054 per tonne this afternoon, its lowest figure since December 2017. The metal's fundamental picture was rattled last week after more than 60,000 tonnes of zinc were delivered...Read More
Base metals prices on the London Metal Exchange were broadly lower during morning trading on Tuesday May 1, with tin the only metal to buck the trend. The complex is trading at lower volumes over the morning, with Chinese markets closed for a national holiday. Nickel's three-month price is drifting further from the $14,000 per tonne support level, reaching a low of $13,555 this morning. The metal'...Read More
Base metals prices on the London Metal Exchange were mixed in the morning of Tuesday May 1, with copper (-0.7% at $6,775 per tonne), aluminium (-0.2%) and zinc (-0.4%) prices lower, while tin prices are untraded and lead and nickel prices are both up 0.3%. Chinese markets are closed for a national holiday today, meaning volume has been light with 1,225 lots traded as of 6.24am London time. This fo...Read More
Chaarat Gold Holdings (LON:CGH) disclosed Tuesday its unsolicited bid for Centerra Gold's (TSX:CG) Kumtor mine in Kyrgyzstan valued the operation, the Asian country's largest gold mine, at $800 million (about Cdn $1.025 billion at today's exchange rate).The miner, which is developing the Chaarat project in Kyrgyzstan, said the proposed acquisition of Kumtor included $400 million in cash plus th...Read More
A few days ago Detour Gold released its 1Q 2018 results; in my opinion, they were very decent.Apart from that, the company changed its mine plan for the years 2019 - 2023; as a result, Detour Gold share prices tumbled.In this article I discuss the latest developments at Detour Gold.In my last article on Detour Gold (OTCPK:DRGDF) I was quite optimistic about this company. Although I pointed out tha...Read More
Larry KudlowPhotographer: Al Drago/BloombergCredit where credit is due.Just after it was revealed that Larry Kudlow would take a position in the Trump administration, he couldn’t resist offering some commentary more suited to his role as CNBC pundit -- buy the dollar and sell gold, Kudlow advised on March 14.“Well, that trade was not working well in the year leading up to that point,...Read More
Gold is exhibiting an untidy uptrend in it price, and that calls for more caution in trading the precious metal. Until the long-term uptrend is well defined, traders will continue to trade short-term rally-and-retreat behavior. Daryl Guppy Published 23 Hours AgoCNBC.com Edgar Su | ReutersGold is exhibiting an untidy uptrend in price with the potential to breakout above the critical long-term res...Read More
Gold still pressured by U.S. dollar in the immediate term.The odds of a short-covering rally this week have increased, though.Gold's upcoming test of the 200-day MA could serve as the catalyst.As per our recent discussions, gold has been pressured by a strengthening dollar born of higher Treasury rates. The currency component of gold's price is making it difficult to remain a bull right now, a...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Tuesday was a poor 54-99-141. The TSX Venture Exchange fell eight points to 775 while polished diamond prices were flat. Bruce Counts's Lithoquest Diamonds Inc. (LDI) gained two cents to 53 cents...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange fell 8.17 points to 775.46 Tuesday. Randy Chou's shell graduate, Nubeva Technologies Ltd. (NBVA: $1.50), is selling $3-million (U.S.) worth of tokens in Singapore. The company has been trading for just under tw...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold fell $10.90 to $1,304.00 on Tuesday. The TSX Venture Exchange fell 8.17 points to 775.46 while the TSX Gold Index added 1.30 points to 189.46. Detour Gold Corp. (DGC), a $15 stock last week and a $9 one this week, fi...Read More