Seabridge Gold Gets License From Canada to Build Water Storage Facility at KSM Project

Seabridge Gold Gets License From Canada to Build Water Storage Facility at KSM Project

Seabridge Gold said Monday it has received a license from the Government of Canada required for the construction, operation and maintenance of the Water Storage Facility and associated ancillary water works at its 100%-owned KSM Project located in northwestern British Columbia. The license regulates all structures and activities situated on transboundary waters shared with the U.S. that have the potential to impact water quality and quantity. The Water Storage Facility […]

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Agilent Posts Higher-than-Expected Q4 Profit, Revenue

Agilent Posts Higher-than-Expected Q4 Profit, Revenue

Agilent, a medical equipment provider reported higher-than-expected Q4 profit and revenue. Non-GAAP EPS increased to $0.59 in the August-to-October quarter, from $0.50 a year ago, topping the $0.52 average estimate of analysts polled by Capital IQ.  Q4 revenue increased 7% to $1.111 billion year-over-year, also surpassing the analyst consensus of $1.06 billion. Looking ahead, Agilent expects Q1 non-GAAP EPS in the range of $0.48 to $0.50, below the analyst consensus […]

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SpartanNash’s Q3 EPS, Revenue Match Expectations

SpartanNash’s Q3 EPS, Revenue Match Expectations

SpartanNash Company rose 12.3% in Thursday’s afternoon trade after the company reported financial results for Q3, with earnings and revenue matching analysts’ expectations. It narrowed its earnings guidance for fiscal 2016 in line with Street estimates. For the quarter ended Oct. 8, the multi-regional grocery distributor and grocery retailer posted Q3 adjusted earnings from continuing operations of $0.53 per share, in line with the Capital IQ consensus estimate. In the […]

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Results of $65 Bln 4-Week and $20 Bln 52-Week Treasury Bill Auctions

Results of $65 Bln 4-Week and $20 Bln 52-Week Treasury Bill Auctions

Demand was modest at today’s upsized 4-week and 52-week Treasury bill auctions, reflecting the continuation of Monday’s risk-on trade into equity assets. The 4-week bill was sold at a high yield of 0.270%, 3 basis points cheaper than last week but richer than the 0.285% rate at the bid deadline. The coverage ratio of 3.39 fell from 3.45 last week, partially a result of the $10 billion increase in the […]

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Financial Stocks Extending Big Advance

Financial Stocks Extending Big Advance

Financial stocks were broadly higher today, with the NYSE Financial Sector Index climbing over 2.4% while financial companies in the S&P 500 Index also were rising 2.0%. In company news, First Data Corp rose Monday after the electronic payments processor today reported Q3 net income matching analyst estimates. The company eared $0.34 per share during the the three months ended Sept. 30, in-line with expctations. Revenue increased 0.5% over the […]

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Merck & Co Says New Study Shows Alzheimer’s Drug Potential

Merck & Co Says New Study Shows Alzheimer’s Drug Potential

Merck & Company said late Wednesday that new research into Verubecestat for the treatment of Alzheimer’s showed that the drug holds potential as a modifying therapy. “We believe this research has the potential to contribute important evidence regarding the amyloid hypothesis, a leading scientific theory for what causes Alzheimer’s disease, and we look forward to seeing the data from our ongoing Phase 3 clinical trials,” said Michael Egan, VP of […]

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Tower International Posts Q3 EPS Beat, Misses on Revenue

Tower International Posts Q3 EPS Beat, Misses on Revenue

Tower International rose 7.5% in Wednesday’s afternoon trade after it reported financial results for Q3, with better-than-expected earnings and revenue that fell short. The global manufacturer of engineered automotive structural metal components and assemblies posted Q3 adjusted earnings of $0.90 per share, compared with the prior-year period’s $0.75 per share. Analysts polled by Capital IQ were expecting EPS of $0.80. Revenue was $457 million, up 3% from $442 million in […]

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Health Care Stocks Extend New Retreat to a Third Day

Health Care Stocks Extend New Retreat to a Third Day

Health care stocks were extending their losses for another session, with the NYSE Health Care Index Tuesday falling just under 1.0% while shares of health care companies in the S&P 500 were down over 0.7% as a group. In company news, Skyline Medical (SKLN) rallied Tuesday after the medical device company signed a distribution agreement for its Streamway infectious fluids collection and disposal system in the UK. Under the new […]

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Energy Stocks Turn Lower As Crude Oil Settles Under $49 Per Barrel

Energy Stocks Turn Lower As Crude Oil Settles Under $49 Per Barrel

Energy stocks were mixed in late trade, with the NYSE Energy Sector Index falling about 0.7% this afternoon while shares of energy companies in the S&P 500 still were up about 0.1% as a group. Crude oil for December delivery settled $1.02 lower at $48.70 per barrel while December natural gas futures finished 4 cents higher at $3.11 per 1 million BTU. In company news, Whiting Petroleum (WLL) rose Friday […]

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EQT Midstream Partners, EQT GP Holdings Report Mixed Q3 Financial Results

EQT Midstream Partners, EQT GP Holdings Report Mixed Q3 Financial Results

EQT Midstream Partners, LP (EQM) and EQT GP Holdings (EQGP) on Thursday both reported Q3 financial results that topped the Street estimates on earnings, but missed on revenues. EQT Midstream Partners reported Q3 net profit of $1.23 per share, up from $1.12 per share in the prior year period and higher than the $1.17 per share Street estimate provided by Capital IQ. Operating revenues were $170.8 million, up from $148.8 […]

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Chipotle Mexican Grill Faces Headwinds Beyond Last Year’s E. Coli Issues, Deutsche Bank Says

Chipotle Mexican Grill Faces Headwinds Beyond Last Year’s E. Coli Issues, Deutsche Bank Says

Chipotle Mexican Grill (CMG) still faces headwinds beyond its inability to get sales back on track after last year’s E. coli scare, Deutche Bank Analyst Brett Levy said in a note to clients on Wednesday. The company’s management is taking “significant and positive steps” to right the ship, but third-quarter earnings on Tuesday showed Chipotle has a long way to go, he said in a note on Wednesday. Because of […]

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Novartis Profit Drops as Generic Competition Erodes Revenue, Costs of Product Research Rise

Novartis Profit Drops as Generic Competition Erodes Revenue, Costs of Product Research Rise

Novartis AG (NVS) said profits fell 3% in the third quarter as generic competition for its older drugs such as cancer treatment Gleevec eroded revenue and it spent more on developing new products. Core net income in the quarter fell 3% to $2.94 billion, or $1.23 per share, from $3.06 billion, or $1.27 per share, the Basel, Switzerland-based company said in a statement on Tuesday. Sales fell 1% to $12.1 […]

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Entegra Financial’s Entegra Bank Buys Two Additional Branches in Northern Georgia Expansion Bid

Entegra Financial’s Entegra Bank Buys Two Additional Branches in Northern Georgia Expansion Bid

Excluding estimated transaction expenses, the transaction is expected to add $0.24, or about 20%, to earnings per share during the first year. The deal is expected to be closed next quarter. A 4.2% tangible book value dilution will result in an earn-back period of approximately three years, it said. Once the deal is closed, Entegra will have about $1.35 billion in assets and nearly $1 billion in deposits. Entegra will […]

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Oil Prices Advance Pre-Bell, WTI Approaches $51 Per Barrel

Oil Prices Advance Pre-Bell, WTI Approaches $51 Per Barrel

West Texas Intermediate (WTI) crude oil futures for delivery in December were 0.7% higher at $50.96 per barrel during Friday’s pre-market trading session while Brent oil futures for delivery in the same month were 0.9% higher at $51.83 per barrel. The pre-bell price gains coincide with an increase in the value of the greenback the morning after the currency surged to a more than six-month high against the euro following […]

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ECB Leaves Monetary Policy Unchanged, Euro Treading Water Before Draghi

ECB Leaves Monetary Policy Unchanged, Euro Treading Water Before Draghi

The euro erased its overnight loss against the dollar and is trading fractionally higher at the North American open after the European Central Bank left interest rates and the size of its quantitative easing program unchanged, as expected. Earlier losses tied to bearish German inflation data — the EUR/USD traded as low as 1.0952 after the -0.2% drop in the September PPI — were effectively wiped out by the ECB […]

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Constellation Brands Acquires Washington Wine Collection, Sheds Canadian Business

Constellation Brands Acquires Washington Wine Collection, Sheds Canadian Business

Constellation Brands Inc (STZ) said on Monday it acquired Charles Smith Wines collection of five “super and ultra premium wines” for $120 million while unloading its Canadian wine business. The brands it acquired includes Kung Fu Girl Riesling, Velvet Devil Merlot, Boom Boom Syrah, Eve Chardonnay and Chateau Smith Cabernet Sauvignon. Charles Smith Wines specializes in Washington State products and was named winemaker of the year in 2014 by Wine […]

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Alon USA Energy Shares Edge Lower Pre-Bell as Delek Proposes to Buy Stock it Doesn’t Own at Discount

Alon USA Energy Shares Edge Lower Pre-Bell as Delek Proposes to Buy Stock it Doesn’t Own at Discount

Alon USA Energy (ALJ) shares were slightly lower in recent pre-market trade as Delek said in a regulatory filing that it is proposing to buy the shares of Alon USA that it doesn’t own at a fixed ratio of 0.44 Delek shares per Alon share. Delek currently owns 47.2% of Alon USA shares. DK was higher over 5% at $17.29 in recent pre-market trade, suggesting a price per Alon share […]

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Arrow Electronics to Bring New Level of Wifi Networking to Consumers by Partnering with Mojo Networks

Arrow Electronics to Bring New Level of Wifi Networking to Consumers by Partnering with Mojo Networks

Arrow Electronics (ARW) is teaming up with Mojo Networks, a enterprise wifi provider, to create one of the first Software-as-a-Service-based access point models, which will use Mojo’s technologies along with Arrow’s supply chain and cloud capabilities to cut hardware costs and create a new way of thinking of technology. The two companies are hoping to “bring flexible, next-generation IT system solutions to our customers and resellers today,” said Arrow Chief […]

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Dollar Defensive as China Trade Data Fuels Safe-Haven Demand For Yen

Dollar Defensive as China Trade Data Fuels Safe-Haven Demand For Yen

The unexpected drop in China’s trade surplus had far-reaching consequences for the U.S. dollar, ultimately causing it to close lower on Thursday against all the major currencies. Meanwhile, an impressive supply-driven rebound in oil futures buoyed the Canadian dollar and Norwegian krone, both of which were the strongest performing currencies among the G-10 currencies. USD/JPY drove forex action Thursday when a 20% decline in the Chinese trade surplus rekindled worries […]

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Goldman Sachs Starts Marcus Online Consumer Lending Platform for Loans of Up to $30,000

Goldman Sachs Starts Marcus Online Consumer Lending Platform for Loans of Up to $30,000

Goldman Sachs (GS) is offering personal, unsecured loans of up to $30,000 through its new online platform, touting it as an alternative to high-interest credit cards. The Marcus by Goldman Sachs platform was launched on Thursday, named after one of the founders of the finance giant, Marcus Goldman, the company said in a statement. “For many who manage debt payments on high-interest rate credit cards, a straight-forward personal loan is […]

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Stocks Pull Back in US Intraday as Fed Hike Chances, China Data Weigh

Stocks Pull Back in US Intraday as Fed Hike Chances, China Data Weigh

The main US stock markets were heading south on Thursday afternoon, following most global markets lower after disappointing Chinese trade figures and as local data reinforced views that a rate hike is likely before the end of the year. China’s trade surplus narrowed 20% in September on a larger-than-expected decline in exports, rekindling concerns about the condition of the world’s second-largest economy. In the US, 246,000 jobless claims were filed […]

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Alphabet Given Extra Time To respond To EU Antitrust Allegations

Alphabet Given Extra Time To respond To EU Antitrust Allegations

Alphabet’s (GOOG) Google unit has been given until Nov. 7 to counter EU antitrust charges it unfairly demotes rival shopping services in search results, according to a report from Reuters. The company was due to respond to the accusations on Thursday but requested more time to prepare its defense. “Google asked for additional time to review the documents in the case file,” a European Commission spokesman said in the report. […]

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Verizon Says Yahoo Email Data Breach Could Deal Material Blow to $4.83 Bln Acquisition

Verizon Says Yahoo Email Data Breach Could Deal Material Blow to $4.83 Bln Acquisition

Verizon (VZ) general counsel, Craig Silliman, was cited as saying in a Reuters report Thursday the company has a “reasonable basis” to believe that Yahoo’s (YHOO) data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from a $4.83 billion deal to buy Yahoo. The data breach could trigger a clause that could allow Verizon to withdraw from the deal, Silliman […]

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Energy Shares Chart Path Lower as US Stocks Retreat

Energy Shares Chart Path Lower as US Stocks Retreat

Stocks in the US swung back into sell mode on Tuesday, with energy stocks leading declines among all 10 of the Standard & Poor’s 500 sectors as crude prices fell. Investors put pressure on equities once more ahead of next week’s pivotal Federal Open Market Committee meeting, which is preceded this week by key data on inflation, retail sales and manufacturing. The probability that interest rates will increase this month […]

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