Harmony Gold Mining Co. Says South African Gold Production Jumps 12%-14% in Fiscal Q1

Harmony Gold Mining Co. Says South African Gold Production Jumps 12%-14% in Fiscal Q1

Harmony Gold Mining Co. (HMY) said Thursday gold production from its South African underground operations will record a 12% to 14% quarter-on-quarter in fiscal Q1 jump because of an increase in both volumes and recovered grade. ADRs climbed intraday. Compared with the fiscal Q1 that ended Sept. 30, 2016, gold production is up 6% to 8%, according to a statement. The company’s full results will be declared Nov. 7. The […]

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AT&T Drops Nearly 4% After Warning of $90 Mln Hit to Q3 Revenue

AT&T Drops Nearly 4% After Warning of $90 Mln Hit to Q3 Revenue

AT&T (T) warned investors that its revenue will be $90 million lower and reported pre-tax earnings will be eroded by about $210 million, or $0.02 per diluted share in Q3 after several devastating hurricanes, as well as earthquakes in Mexico, significantly impacted certain service areas last quarter. The hit to earnings will come from damage to its network and other property, costs to restore services, and revenue declines from waived […]

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Late Bounce Carries Tech Stocks to Positive Finish

Late Bounce Carries Tech Stocks to Positive Finish

Technology stocks finished with small gains, with shares of tech companies in the S&P 500 climbing almost 0.2% this afternoon. In company news, Gigamon (GIMO) retreated Friday, sinking almost 8% to a session low of $40.20 a share following reports a bid by Elliott Management to buy the networking equipment company has ground to a halt amid disagreements over pricing the prospective deal. But talks with Elliott still could be […]

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Chubb Sees Hurricane Maria Maximum Pre-Tax Insurance Loss of $220 Mln for Q3

Chubb Sees Hurricane Maria Maximum Pre-Tax Insurance Loss of $220 Mln for Q3

Chubb (CB) said Monday that it estimates maximum net insurance and net reinsurance losses for Q3 attributable to Hurricane Maria of $220 million pre-tax, or approximately $200 million after tax. The estimated maximum net loss for Hurricane Maria for the company’s commercial and personal property and casualty insurance businesses is $152 million pre-tax, or $135 million after tax, and for the company’s reinsurance businesses is $53 million pre-tax and after […]

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Forestar Slumps 8% – Majority of Shareholders Opt for Cash in D.R. Horton Merger

Forestar Slumps 8% – Majority of Shareholders Opt for Cash in D.R. Horton Merger

Forestar Group (FOR) shares were slumping over 8% Thursday morning after a majority of its shareholders, who own 91.23% of outstanding shares opted to take cash in relation to the company’s merger with builder D.H. Horton (DHI), which is acquiring about 75% of Forestar shares, according to preliminary election results. As previously reported, the cash and stock elections are subject to proration and adjustment procedures. Common stock holders in Forestar […]

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