Barrick Gold (ABX.TO), which is attempting to reduce its debt load, is considering a wide range of options from a strategic equity investment to further streaming deals that yield upfront cash, according to several sources familiar with the situation.The sources, who asked not to be named because the talks are confidential, said the discussions have so far been exploratory in nature and no deals are imminent at this time. A spokesman for Barrick declined to comment on the matter. One source said Barrick's management has met with top fund managers in Asia and the Middle East to gauge the interest in a possible private placement-style equity deal, in order to raise capital and bring on board a large, long-term strategic investor as a move to boost market confidence in the company. Such a move would be similar to the one taken by diversified miner Teck Resources Ltd (TCKb.TO), which in 2009 sold a roughly 17 percent stake in itself to Chinese sovereign wealth fund, CIC or China Investment Corp. At the time, Vancouver-based Teck was struggling under a massive debt load as it acquired Fording Coal for $14.1 billion, just as the global financial crisis began and commodity prices imploded. Barrick, the world's top bullion miner, has faced a similar struggle over the last year, as the price of gold has fallen 21 percent and costs at Pascua Lama - its massive gold project on the border of Chile and Argentina, have soared. Shares in Barrick have fallen 46 percent over the last 12 months. The company's shares hit C$14.22 in July, their lowest point since 1992, but have since rebounded a bit and the stock closed on Wednesday at C$21.55. The Toronto-based gold miner will be announcing its third-quarter results on Thursday, and is expected to provide analysts and investors an update on capital costs at Pascua Lama, which were last pegged at up to $8.5 billion. Another source briefed on the matter, said Barrick is also considering a further streaming deal to pay for any additional capital outlay at Pascua Lama. Such deals, give miners cash up front in exchange for an agreement to sell future production of a by-product like silver at a discounted price. Barrick already has a streaming deal in place at Pascua Lama - In 2009, Silver Wheaton Corp (SLW.TO) bought 25 percent of the life-of-mine silver production from the project. Bloomberg, earlier on Wednesday, reported that the company is also considering selling part of its copper business, or even a stake in Pascua Lama, citing people with knowledge of the matter. The report said Barrick has not settled on a strategy, and that there is no certainty a deal will occur. In an interview with Reuters last month, Barrick's Chief Executive Jamie Sokalsky categorically denied that the company has any plans to sell its copper assets. "They are still core assets for us," said Sokalsky during an interview in Denver. "It is not about just gold or copper, it's about an asset that generates returns and free cash flow." Barrick owns copper mines and projects in South America, Africa and the Middle East. The company, in August, agreed to sell three of its higher-cost gold mines in Australia to Gold Fields (GFIJ.J) for $300 million. Sokalsky told Reuters last month that the company remains in talks about some further asset sales with the focus on divesting smaller, higher-cost mines.
Larry Fink, the esteemed head of investment giant BlackRock, thinks the financial markets are “bubble-like.” And he says so publicly. The Wall Street Journal points out in an Oct. 27 article that a growing number of Internet companies that aren’t profitable and don’t even have revenues are being valued at extraordinarily high prices. “It isn’t quite 1999,” the Journal demurs, recalling the good old days of tech company overvaluations, but it mentions the comparison anyway. An outfit called TrimTabs, which tracks investors’ actions, says that cash has been flooding into mutual funds and other stock investments this year at the fastest pace since 2000, the height of the last big bubble. Even CNBC, the mouthpiece and apologist for Wall Street, seems to be coaxing more guests to utter pessimist predictions about stocks. So let’s see: Bubble-like; the highest inflow of cash into stocks since 2000; companies without earnings or even revenues valued in the billions; and, my gawd, CNBC finally trying to be honest! Let me translate all of this into plain English for you: A lot of people are worried that stocks are headed for another crash. And I’m one of them. That’s the easy part, since stock prices have been rising almost every single day without the normal backtracking that has always happened during healthy ascents. Even with Wednesday’s 61.59-point decline, the Dow Jones industrial average and other indices are just 24 hours removed from all-time highs. The hard part? Predicting when the crash going to occur. Nobody, of course, knows for sure. (And if I did, I’d probably only tell family, friends — and random cute women who stroll by the front of our building.) You think the market declines in 2007 and 2008 were bad? The next big decline in the stock market is going to legendary — and gruesome. There’s a trick in predicting things like this. Many columnists will say that something bad is bound to happen — but they never say when. I usually don’t employ that trick but I make an exception now because this time the stock market really is different. The most obvious danger for stocks is the Federal Reserve. On Wednesday, Ben Bernanke’s Fed kept its market-rigging $85 billion-a-month bond-buying program unchanged because the economy isn’t quite right yet. I’m hardly the only one who thinks this Fed program, which goes by the innocent name Quantitative Easing (QE), is the devil itself. But devil or not, it’s the one thing keeping stocks in heady territory. The Fed’s policy-making Open Market Committee said on Wednesday the economy just wasn’t strong enough for it to stop rigging the bond market, which is being done to keep interest rates unnaturally low. Those low rates, in turn, are sending investors scurrying to stocks despite the fact that corporate earnings are rising only moderately. And even those moderately higher profits are being achieved mainly by economy-damaging cost cutting. Ironically, interest rates rose after the Fed announced what the markets had been expecting. In other words, Wall Street was worried — at least for the moment — that the Fed wouldn’t be able to keep either inflation or interest rates down. And if that happens, corporate profits and stock prices will be hurt. Wall Street will get over that concern soon because it knows that the Fed has trapped itself in the QE program, which prints money to buy the bonds it holds. Until there is a reasonable gain in economic activity, soon-to-be Fed Chairman Janet Yellen won’t be able to stop buying bonds by the stadium-full. Unless … (This is the dramatic portion of the column, the part where I say something that doesn’t have a wide consensus. ) … unless the Fed loses control of interest rates. Rates on government securities are up substantially over the past five months, even though they have recently backed off from recent highs. But if the market defies the Fed again and takes interest rates back up, all bets on QE are off. I have no inside knowledge on the thinking of the Chinese, who hold the largest amount of US debt. But that country can’t be happy with what the Fed has done to its American investments. You’ll want to get out of this bubbly, soon-to-crash stock market a good day before this or any other sentiment-changing event happens. And good luck with that.
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BFW 10/31 06:27 MORE: Sony Cuts Forecasts on Weak Businesses, Maintains Yen View
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Sony Cuts Full-Year Forecasts After 1H Profits Miss Estimates 2013-10-31 06:03:55.365 GMT
By Kurt Schussler Oct. 31 (Bloomberg) -- Lowers full-year net income target 40% to 30b yen; est. 50.5b yen. * Decreases oper. profit forecast 26% to 170b yen; est. 220.8b yen (21 analysts) * Sales view down 2.5% to 7.7t yen; est. 7.64t yen * For 2Q ended Sept. 30: * Net loss 19.3b yen; est. 14.8b yen profit * Oper. profit 14.8b yen; est. 55.5b yen (7 analysts) * Sales 1.78t yen; est. 1.8t yen * Table of 1H results, FY forecasts
Link to Company News:6758 JP <Equity> CN <GO>
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
To contact the editor responsible for this story: Kurt Schussler at +81-3-3201-2089 or kschussler1@bloomberg.net
BOJ Gov Kuroda: Overseas economies weaker than forecast in July - post rate decision press conference - Domestic banks are not facing funding problems in foreign currencies. - BoJ member Shirai proposed strressing more downside risks to economy.
SHCOMP -65bps after yday's rally, earnings contniued to weigh on index. PBOC conducted 16b yuan of 14-day reverse-repurchase contracts today at a yield of 4.3%, for the second time the central bank adding cash into system and making total injection of 29.1b yuan this week. as a result, we saw the 7-day repo rate down to the level around 5% in the month end today. {otc cny repo <go>}. Secondly, props +1.8% & cement +0.8% after President Xi Jinping stressed the need to accelerate the country's housing security and supply to guarantee people's basic residential needs. {NSN MVHO8U3V7U9S <go>} basically the govt will provide more supply instead of curbing demand for the new round of props control measures, and the market-oriented policies are supposed to benefit the sector.
In other news China’s top four banks posted their biggest increase in soured loans since at least 2010 as a five-year credit spree left companies with excess manufacturing capacity and slower profit growth amid an economic slowdown.
Rubber -1.3%, Rebar +35bps, Coke +50bps and Iron Ore +20bps. Copper -1%, all LME meetals down, Gold -65bps and Crude -30bps...all following what was taken to be a relatively hawish FOMC.
Miners looking up coming out of Australia, implied +50bps-1% this mostly as a result of news out of Aussie banks. The APRA letter, effectively warning banks to limit dividend payouts in order to meet adequate capital buffers, is resulting in switching from banks to resource names today. {http://www.afr.com/p/markets/investors_stand_by_bank_dividends_buO8xjmjDfmHBGhIFrnYEI}
Will be gtting numbers/production from Total, Shell, BG, GLEN and ANTO shortly.
Headlines (=)Copper: Codelco Seen Raising China Copper Premium to Nine-Year High (-)ENI: ENI REMOVED FROM CONVICTION BUY LIST AT MACQUARIE (+)CLN: CLARIANT RAISED TO HOLD VS SELL AT SOCGEN
Research (*)GS Iron Ore 50: Move to seaborne surplus from next year as key projects remain on schedule
Source: Bloomberg, Reuters Cleared for Distribution to Clients in EMEA and US
AfrenReports 9-months Pretax profit $128.6M v $122.8M y/y; Rev $1.20B v $1.11B y/y - 9-month production of 48,573 boepd (+18% year on year). - Raises FY13 production expected to be at the upper end of guidance (40,000 to 47,000 boepd).
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BN 10/31 06:58 *NH HOTELES TO SELL AS MUCH AS EU275M OF CONVERTIBLE BONDS
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NH Hoteles to Sell as Much as EU275m of Convertible Bonds 2013-10-31 07:02:40.350 GMT
By Ben Sills and Sharon Smyth Oct. 31 (Bloomberg) -- Bonds can be converted into or exchanged for ordinary shares in NH, co. says in regulatory filing. * Barclays, BNP Paribas, Morgan Stanley joint bookrunners on deal * Banks taking orders now, expect to complete sale today * NH plans to use funds to repay March 2012 syndicated loan, help fund EU200m investment plan
Link to Company News:{NHH SM <Equity> CN <GO>}
For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story: Ben Sills at +34-91-700-9603 or bsills@bloomberg.net
US Markets closed lower after a less dovish than anticipated FOMC statement; Most notable changes included a dropped warning that tight financial could slow the pace of improvement in the economy and labor market conditions; FOMC also acknowledged some slowdown in the housing space and dropped the comment that mortgage rates have risen...FB slightly higher after better numbers (FB+0.7%)...VIX @13.65...Brazil-0.67...BOJ offered a minimal policy statement ahead of the release of semiannual Outlook for Economic Activity and Prices, voting unanimously to increase monetary base at annual pace of 60-70T yen - its standard policy setting and as widely expected. Separately out of Japan, Manufacturing PMI hit 54.2 vs 52.5 -the highest reading since May 2010. The data signaled that the latest expansion was largely demand driven and apparently unimpeded by PM Abe's confirmation of sales tax hike". Nikkei -1.2%...China central bank conducted reverse repo operations again, injecting liquidity in both available opportunities for open market operations. PBoC did CNY16B in 14-day reverse repos for the day and CNY29.1B total for the week -the first weekly net injection after 2 weeks of net drain..Shanghai -0.80
Eur$ 1.3697 S&P Fut -0.34% European index -0.45%
Keep an eye on : - ABI BB : AB InBev 3Q Adj. Ebitda $4.66b; Est. $4.47, 3Q Adj. Ebitda Beats, Organic Rev. Growth Misses - ACS SM : Sacyr, ACS Sell Stakes in Seville Metro Manager to Globalvia - AF FP : Air France Sees 2014 Ebitda at Bottom of Targeted Range - ALT FP : Q3 Rev €395 +15% - ALU FP : Alcatel 3Q Operating Profit Beats, Expects to Exceed Cost Target - BAYN GY : Bayer 3Q Ebitda Ex-Items Beats Ests.; Repeats 2013 Group Goals - BNP FP : BNP Paribas 3Q Net Income Beats Estimates; CIB Pretax In Line - BN FP : Danone, TPG in Talks to Buy Tirumala Milk, Economic Times Says - BOSS GY : Hugo Boss 3Q Adj. Ebitda In Line With Ests., Rev. Misses - EVK GY : Evonik 3Q Adjusted Ebitda Beats Estimates, Confirms 2013 Outlook - F IM : Fiat Remains Heavily Cash Bleeding, Kept at Reduce at Nomura - GEA GR : GEA Group 3Q Operating Ebit Beats; Confirms Full-Year Forecasts - GEBN VX : Geberit 3Q Sales, Ebitda Ahead; Construction Challenging in 4Q - LHA GY : Lufthansa 3Q Rev. Misses Est., Reiterates FY Outlook - LONN VX : Lonza 3Q In-Line; 2013 Capex to Remain Below CHF250m - IAM FP : Maroc Telecom 9 Mos Revenue Down 4.7% Y/Y - NOK1V FH : Nokia Wins Sprint TDD LTE Roll-Out Deal, Displacing Ericsson - NOVOD DC : Novo Nordisk 3Q Victoza Rev. Misses Est.; Plans Stk Split - NRE1V FH : Nokian Renkaat 3Q EPS, Net Match Ests.; Sees Pricing Challenges - OR FP : L’Oreal 3Q LFL Sales Misses Est.; 2013 Goals Confirmed,May Slide as Revenue Misses Estimates on North America - OR FP : Shiseido Says It May Sell More of Its Non-Core Businesses - RAND NA Randstad Says CEO Noteboom Replaced by Van Den Broek Feb. 28 - REC BB : Recticel 3Q Sales EU239.1 Mln vs Restated EU251.9 Mln - RIG2 GR : Gedeon Richter 3Q Net Rises 26%, Beats Estimate - RXL FP : Rexel 3Q Sales In Line With Ests.; Confirms Full Yr Targets - SRG IM : Snam Still Offering Appealing Defensive Profile, BofAML Says - STMN SW : Straumann 3Q Rev. CHF155.2m Misses Est.; Affirms 2013 Forecast - SUBC NO : Technip, Subsea7 Win Tullow Contracts for Ghana Offshore Project - TEC FP : Technip 3Q Net EU150m vs Est. EU171m; Cuts Subsea Profit Targets - TEC FP : Technip, Subsea7 Win Tullow Contracts for Ghana Offshore Project - TEL NO : Telenor 3Q Sales In Line W/ Est.; Lowers FY Revenue Guidance - FP FP : Total 3Q Adj. Net EU2.72b Matches Est.; Div. EU059/Share In Line - UBSN VX : Abu Dhabi to Buy UBS Paris, Lyon Buildings for EU750M: Figaro - VWS DC : Vestas Turbine Catches Fire; 2 Dead, Ekstra Bladet Reports - WCH GY : Wacker Chemie 3Q Ebitda, Sales Miss Estimates, Confirms Forecast
Up
*CLARIANT RAISED TO HOLD VS SELL AT SOCGEN *GRAFTON RAISED TO HOLD VS SELL AT BERENBERG *HENKEL RAISED TO BUY VS HOLD AT JEFFERIES *TRAVIS PERKINS RAISED TO HOLD VS SELL AT BERENBERG
Down
*DEUTSCHE BOERSE CUT TO REDUCE VS BUY AT KEPLER *ENI VUT TO NEUTRAL AT MACQUARIE *IBERDROLA CUT TO HOLD VS BUY AT SOCGEN *LONDON MINING CUT TO SELL VS NEUTRAL AT GOLDMAN *L’OREAL CUT TO HOLD VS BUY AT JEFFERIES *NICE SYSTEMS CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS *STATOIL CUT TO SELL VS HOLD AT NORDEA
PT Change
*Buzzi Unicem PT Raised to EU11.5 vs EU10 at Bernstein *FERREXPO PT CUT TO 250P VS 290P AT CANTOR; KEPT AT BUY *FIAT PT CUT TO EU5.3 VS EU6.1 AT MEDIOBANCA; KEPT AT NEUTRAL *Generali PT Raised to EU20 vs EU18.3 at JPMorgan *Impregilo PT Raised to EU5 vs EU4 at Kepler Cheuvreux *Italcementi PT Raised to EU5.6 vs EU4.8 at Bernstein *L’Oreal PT Cut to EU136 vs EU138 at Raymond James
Initiation
Slovak’s Grafobal to Start Trading Gas in Poland, Puls Says *IMTECH RATED HOLD AT ING, WAS UNDER REVIEW
Country Sector Stock Call
*ENI REMOVED FROM CONVICTION BUY LIST AT MACQUARIE *Fiat Remains Heavily Cash Bleeding, Kept at Reduce at Nomura *Snam Still Offering Appealing Defensive Profile, BofAML Says
Asian Market Update: FOMC and RBNZ less dovish than expected; China injects liquidity into money markets for 2nd consecutive session
***Observations/Insights*** - USD firmed up and US fixed income sold off late in the US session after a less dovish than anticipated FOMC statement; Most notable changes included a dropped warning that tight financial could slow the pace of improvement in the economy and labor market conditions; FOMC also acknowledged some slowdown in the housing space and dropped the comment that mortgage rates have risen. - RBNZ policy statement was little changed from prior month but also contained some telling revisions; Of particular interest, RBNZ dropped the passage that it expects OCR to remain unchanged in 2013, potentially paving the way to an even more hawkish statement or even a rate hike in December; RBNZ also no longer saw growth in China and Australia as slowing; Finally, RBNZ noted Q3 GDP would be more than 3% vs prior forecast of 3%. - BOJ offered a minimal policy statement ahead of the release of semiannual Outlook for Economic Activity and Prices, voting unanimously to increase monetary base at annual pace of 60-70T yen - its standard policy setting and as widely expected. Separately out of Japan, Manufacturing PMI hit 54.2 vs 52.5 - the highest reading since May 2010. Markit economist said "October saw operating conditions in the Japanese manufacturing industry improve at the sharpest pace for over three years, driven by a surge in new orders... The data signaled that the latest expansion was largely demand driven and apparently unimpeded by PM Abe's confirmation of sales tax hike". - China central bank conducted reverse repo operations again, injecting liquidity in both available opportunities for open market operations. PBoC did CNY16B in 14-day reverse repos for the day and CNY29.1B total for the week - the first weekly net injection after 2 weeks of net drain. - US Treasury's semiannual currency report again declined to name China as currency manipulator, instead shifting more focus to Germany and its large current account surplus contributing to deflationary pressure in the rest of the EZ. In addition, the Treasury said it would monitor Japan's FX policy and also deemed Korean Won undervalued by 2-8%.
***Economic Data*** - (NZ) RESERVE BANK OF NEW ZEALAND (RBNZ) LEAVES OFFICIAL CASH RATE UNCHANGED AT 2.50% (AS EXPECTED) - (NZ) NEW ZEALAND SEPT BUILDING PERMITS M/M: 1.4% V 1.5% PRIOR (2nd consecutive increase) - (NZ) NEW ZEALAND OCT ANZ BUSINESS CONFIDENCE: 53.2 V 54.1 PRIOR; ANZ ACTIVITY OUTLOOK: 47.1 V 45.3 PRIOR - (NZ) NEW ZEALAND SEPT MONEY SUPPLY M3 Y/Y: 7.3% V 6.5% PRIOR - (AU) AUSTRALIA SEPT BUILDING APPROVALS M/M: 14.4% V 2.8%E (16-month high); Y/Y: 18.6% V 1.2%E - (AU) AUSTRALIA Q3 IMPORT PRICE INDEX Q/Q: 6.1% V 3.5%E (19-quarter high); EXPORT PRICE INDEX Q/Q: 4.2% V 3.3%E - (AU) AUSTRALIA SEPT PRIVATE SECTOR CREDIT M/M: 0.3% V 0.4%E; Y/Y: 3.3% V 3.4%E - (JP) BANK OF JAPAN (BOJ) POLICY STATEMENT: REITERATES TO INCREASE MONETARY BASE AT ANNUAL PACE OF ¥60-70T (as expected) >- (JP) JAPAN OCT MARKIT/JMMA MANUFACTURING PMI: 54.2 V 52.5 PRIOR (highest reading since May 2010) - (JP) Japan investors bought net ¥1.04T in foreign bonds last week (3rd straight week of net purchases) vs bought net ¥1.41T in prior week; Foreign Investors sold net ¥8.0B in Japan stocks v bought net ¥297.8B in prior week - (JP) JAPAN SEPT LABOR CASH EARNINGS Y/Y: +0.1% V -0.4%E - (TW) TAIWAN Q3 PRELIM GDP Y/Y: 1.6% V 2.6%E - (SG) SINGAPORE Q3 PRELIMIN UNEMPLOYMENT RATE: 1.8% V 2.1%E - (SG) SINGAPORE SEPT MONEY SUPPLY M1 Y/Y: 15.3% V 15.7% PRIOR; M2 Y/Y: 7.5% V 7.1% PRIOR - (SG) SINGAPORE SEPT BANK LOANS AND ADVANCES Y/Y: 15.7% V 15.4% PRIOR - (SG) SINGAPORE SEPT CREDIT CARD BAD DEBTS (SGD): 19.8M V 19.2M PRIOR; CREDIT CARD BILLINGS: 3.4B V 3.4B PRIOR - (PH) PHILIPPINES SEPT BANK LENDING Y/Y: 14.6% V 13.0% PRIOR; BANK LENDING NET OF RRPS Y/Y: 15.8% V 14.2% PRIOR - (PH) PHILIPPINES SEPT BANK LENDING Y/Y: 14.6% V 13.0% PRIOR; BANK LENDING NET OF RRPS Y/Y: 15.8% V 14.2% PRIOR - (UK) UK OCT GFK CONSUMER CONFIDENCE: -11 V -8E (first sequential decline in 6 months)
***Fixed Income/Commodities/Currencies***
- (CN) PBoC to conduct CNY16B in 14-day reverse repos (second consecutive liquidity injection); Injects CNY29.1B this week v drained CNY58B last week (first net injection in 3 weeks)
- USD firmed up across the board following the less dovish than expected FOMC. EUR/USD fell to a 1-week low below 1.37, GBP/USD fell to 2-week low around $1.60, AUD/USD hit 2-week lows below 0.9450, and USD/JPY rose to 2-week highs above 98.70. AUD did rebound later in the session to trade above the $0.95 level, boosted by much higher than expected building approvals data. NZD/USD was also initiall hit by FOMC, briefly fally below 0.82 - a 4-week low - before rising above 0.8270 in the aftermath of a hawkish RBNZ statement.
***Speakers/Political/In the Papers*** - (CN) China may approve free trade zones for Guangdong Province, Hong Kong, Macau after plenary meeting - Chinese press - (CN) PBoC sets yuan mid point at 6.1425 v 6.1412 prior setting (weakest Yuan setting since Oct 17) - (CN) China big four banks new loans CNY93B from Oct 1-27th - press
- (JP) Japan PM aide Honda: Wage gains required for Abenomics; companies should increase wages by more than 1% for 2014 - (JP) Japan, US plan to unify nuclear evaluation standards by 2018 - Japanese press - (JP) Survey finds Japan Q3 GDP at +1.4% - Kyodo News
- (US) US Treasury semi-annual currency report: German nominal current account surplus larger than China in 2012; Does not designate China or any nation as FX manipulator
***Equities*** Market Snapshot (as of 03:30 GMT): - Nikkei225 -0.2%, S&P/ASX +0.2%, Kospi -0.7%, Shanghai Composite -0.7%, Hang Seng -0.4%, Dec S&P500 -0.3% at 1,755, Dec gold -0.8% at $1,338, Dec crude oil -0.3% at $96.53/brl
US markets: - WTW: Reports Q3 $1.07 v $0.84e, R$393.9M v $387Me; suspends dividend; -16.0% afterhours >- JDSU: Reports Q1 $0.13 v $0.12e, R$429M v $424Me; -7.9% afterhours - SPWR: Reports Q3 $0.44 v $0.24e, R$657.1M v $591Me; -5.0% afterhours - MANT: Reports Q3 $0.48 v $0.52e, R$567M v $587Me; Cuts FY13 guidance; -3.9% afterhours - MET: Reports Q3 $1.34 v $1.36e, R$16.9B v $16.8Be; -3.1% afterhours - V: Reports Q4 $1.85 v $1.85e, R$2.97B v $3.02Be, $5B share buyback program (5% of market cap); -3.0% afterhours - SBUX: Reports Q4 $0.63 v $0.60e, R$3.80B v $3.81Be; Increases dividend; -2.5% afterhours - MAR: Reports Q3 $0.52 v $0.45e, R$3.16B v $3.06Be; -0.9% afterhours - CSC: Reports Q2 $0.93 v $0.82e, R$3.19B v $3.35Be; -0.2% afterhours
- FB: Reports Q3 $0.25 v $0.18e, R$2.02B v $1.90Be; flat afterhours
- ALL: Reports Q3 $1.53 v $1.37e, R$8.47B v $7.38Be; +0.1% afterhours - CYH: Reports Q3 $0.04 (incl $0.65 reserve) v $0.69e, R$3.22B v $3.26Be; +0.1% afterhours - CAR: Reports Q3 $1.48 adj v $1.55e, R$2.40B v $2.35Be; +0.2% afterhours - CROX: Reports Q3 $0.18 v $0.18e, R$288.5M v $292Me; +0.5% afterhours - ATML: Announces $300M stock buyback increase (10.6% of market cap); +1.8% afterhours - HBI: Reports Q3 $1.23 v $1.14e, R$1.19B v $1.24Be; +3.5% afterhours - EXPE: Reports Q3 $1.43 v $1.35e, R$1.40B v $1.38Be; +18.8% afterhours - ZLTQ: Reports Q3 -$0.08 v -$0.21e, R$29.5M v $21.1Me; +37.8% afterhours
Notable movers by sector: - Consumer discretionary: Panasonic Corporation 6752.JP +3.5% (confirms staff relocation plans); Suning Appliance Co Ltd 002024.CN -6.8% (Q3 results); Qantas Airways Ltd QAN.AU -2.4% (increases share in Jetstar Japan) - Consumer staples: Woolworths Limited WOW.AU +0.7% (Q1 results) - Industrials: SAIC Motor 600104.CN +0.4% (Q3 results); Nippon Yusen 9101.JP +2.8% (H1 results); Toyota Industries 6201.JP +0.4% (H1 results); Kawasaki Kisen Kaisha 9107.JP +1.3% (H1 results) - Materials: Marubeni Corp 8002.JP -1.0% (construction plans); Daido Steel 5471.JP -6.5% (H1 results) - Financials: China Minsheng Banking Corp 1988.HK -2.7% (Q3 results); AgBank 1288.HK +0.3% (Q3 results); ICBC 1398.HK -1.7% (Q3 results); Bank of Communications 3328.HK -2.3% (Q3 results); Bank of China 3988.HK flat (Q3 results); Hua Xia Bank Co 600015.CN -1.4% (Q3 results); CapitaLand Ltd CAPL.SG -1.3% (Q3 results); National Australia Bank Ltd NAB.AU -2.2% (FY results); CITIC Securities 600030.CN -1.7% (Q3 results); Shenyin Wanguo Ltd 218.HK +8.1% (merger speculation); Mitsui & Co Ltd 8031.JP -0.6% (power project) - Technology: Qingdao Haier Co Ltd 600690.CN +0.4% (Q3 results) - Healthcare: Shanghai Fosun Pharmaceutical Group Co Ltd 2196.HK -1.5% (Q3 results)