Business

Kaz Minerals Plunges After Agreeing to Buy $5.5-Billion-Outlay Russia Copper Project

Shares of Kaz Minerals (KAZ.L), a company focused on large-scale, low-cost copper mining, slumped early Thursday, after the company said it was buying the Baimskaya copper project in the Chukotka region of Russia for $900 million, taking on a project with a gigantic capital budget outlay of $5.5 billion. The miner, whose board approved in December 2017 a $1.2 billion […]

Canadian Natural Resource Exceeds Q2 Earnings Expectations

Canadian Natural Resource (CNQ) reported Thursday adjusted diluted EPS of C$1.04 (C$0.80) for Q2, up from last year’s C$0.29, exceeding Street view of C$0.83. During the quarter, the company produced 793,899 barrels per day (bbl/d) of crude oil and NGLs and 1,539 MMcf/d of natural gas. For the same period last year, it produced 637,127 bbl/d and 1,656 MMcf/d. For […]

Starbucks, Alibaba Partner to Deliver in China

Starbucks (SBUX) and Alibaba (BABA) confirmed they will join to deliver Starbucks products in China. Starbucks will collaborate across key businesses within the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao and Alipay to meet its goals. Working with Alibaba unit Ele.me, Starbucks will pilot deliveries in September in 150 stores located in key trade zones in Beijing and Shanghai with […]

Asian Stock Markets Soft On Renewed Trade Tensions

Asian stock markets turned in a soft Thursday, after the Trump Administration said it was considering broader and deeper tariffs against imports from China. Hong Kong led decliners by falling 2.21%, while Shanghai and Tokyo also finished in red, along with regional exchanges. Mumbai stocks, setting all-time record highs earlier in the week, fell back also. The Nikkei 225 retreated […]

United Therapeutics’ Price Target From Wedbush Boosted to $253

United Therapeutics (UTHR) received a price-target increase late Wednesday from Wedbush after the biotechnology company reported Q2 results well above analysts’ expectations earlier in the day. The new price target on the stock from Wedbush is $253 per share, up from $234. The shares closed Wednesday at $116.66 and edged down 0.6% after hours to $116.00. Wedbush kept its investment […]

AxoGen Reports Narrower Q2 Loss Vs Street, Misses on Revenue

AxoGen (AXGN) fell nearly 18% in Wednesday’s late trading after the company reported financial results for Q2, with a narrower-than-anticipated loss and revenue that fell short of analysts’ expectations; it also provided growth guidance for fiscal 2018. The company developing and marketing innovative surgical solutions for peripheral nerves posted adjusted loss of $0.09 per share, compared with the prior-year period’s […]

Energy Report: Crude Flat to Weaker in Asia on Supply Views

Crude oil prices were flat to weaker in Asia on Thursday after an early rebound from sharp drops overnight as production from key OPEC members and allies headed higher and US inventories grew. ICE Brent crude futures, the benchmark for oil prices outside the US, edged up slightly to $73.40 a barrel. US West Texas Intermediate crude futures slipped 0.12% […]