Quadra FNX Mining Ltd. (TSE:QUX.TO) shares were downgraded to "Sector Underperformer" from "Sector Performer" by CIBC World Markets Inc. to reflect the nominal implied return to price target. The brokerage lowered its price target on the company's shares to C$15 from C$23, in line with the offer price from KGHM. Quadra FNX shareholders have approved the previously announced takeover bid by KGHM Polska Miedz S.A. under which KGHM has agreed to acquire Quadra FNX for C$15/share in cash for a total consideration of about C$3.5 billion. Quadra FNX now expects the deal to close by early March 2012 … [Read more...]

Brean Murray, Carret & Co. analyst Lucas Pipes lowered earnings estimates for Walter Energy Inc. (NYSE:WLT) following a miss in fourth-quarter results. The brokerage maintained its "hold" rating with a lowered fair value estimate of $60. Walter Energy reported a 4Q11 miss with EPS of $1.33 versus the Street at $1.54. The company's increased costs at their Canadian operations were the primary reason for the quarter's miss. On the positive side, Walter reiterated their 2012 met coal volume guidance of 11.5-13.0 million metric tons, with a third of the expected 1.8-3.3 million metric ton … [Read more...]

(Photo: Bloomberg News) Companies are improving margins and generating profits as wage growth for the American worker lags behind the prices of goods and services. Advertisement Related to this story The year-over-year change in the so-called core consumer price index, which excludes volatile food and fuel, has outpaced hourly earnings for the last four months. In January, average hourly earnings climbed 1.5 percent from a year earlier, while core inflation was up 2.3 percent. “A lot of the outperformance of profits has been due to the fact that margins are expanding,” said Michael … [Read more...]

U.S. stocks ended on a mixed note, erasing earlier gains, as investors reacted cautiously to the news over a new bailout package for Greece. S&P 500 Index edged 0.07 percent higher to finish at 1,362.21. The Dow Jones Industrial Average gained 0.12 percent to end at 12,965.69. The Nasdaq Composite Index closed at 2,948.57, down 0.11 percent. Hot Stocks Of The Day: (WMT, MDT, DELL, INTU, CIEN, WFT, CHG, CORT, GTX) In corporate news, Wal-Mart Stores Inc. (NYSE:WMT) retreated 3.86 percent to end at $60.07 after the retail giant reported weaker-than-forecast sales. On a constant currency basis … [Read more...]

CIBC World Markets Inc. raised price target on shares of PetroBakken Energy Ltd. (TSE:PBN.TO) to C$23 from C$22, while maintaining its "Sector Outperformer" rating. The brokerage lowered 2012 cash flow per share estimate to C$4.54 from C$4.63 and its 2013 estimate to C$4.61 from C$4.71. PetroBakken announced that it is selling 2,900 barrels of oil equivalent per day (Boe/d) of non-operated Bakken production to Crescent Point for C$427 million cash. Proceeds from the transaction will initially be used to reduce bank debt, leaving PetroBakken with over C$1.1 billion of unutilized credit … [Read more...]

(Story: Liz Skinner) The nation’s 10 million single mothers and 2 million single fathers must consider certain financial situations that dual-parent families either don't need to contemplate or their lack of planning just doesn’t have as significant an impact, said Samantha Fraelich, a financial adviser with Bernard R. Wolfe & Associates Inc. in Chevy Chase, Maryland.� Ms. Fraelich should know.� She and her two siblings were raised by their single mother. “Society is designed for married people and if you are not, and you have children, you have different things to … [Read more...]

Grubb & Ellis Co., a U.S. real estate services company, agreed to sell almost all its assets to BGC Partners Inc. and filed for bankruptcy protection. Advertisement Related to this story Grubb & Ellis listed assets of as much as $500 million and liabilities of up to the same amount in the Chapter 11 filing in U.S. Bankruptcy Court in New York yesterday. The company said it completed about 12,000 sale and lease transactions last year and manages more than 250 million square feet of property. “We determined that a partnership with BGC provides the best platform for our brokerage … [Read more...]

(Photo: Bloomberg News) The Standard & Poor's 500 Index is approaching the cheapest level ever compared with bonds as Federal Reserve Chairman Ben S. Bernanke's zero-percent interest rates drive investors and companies from cash. Advertisement Related to this story Profits that doubled since 2009 pushed the index's so-called earnings yield to 7.1 percent, close to the highest on record when compared with the 10-year Treasury rate, according to data compiled by Bloomberg since 1962. American companies have boosted capital spending 35 percent over six quarters, the most since … [Read more...]

Retirement 2.0 Mary Beth Franklin What your clients mean when they talk about retirement Archives » Contact » RSS Feed » Retirement used to mean turning 65 and collecting a gold watch from your lifelong employer. Well the watch has been replaced by the digital clock on your iPhone. You've done essentially the same job but worked for five different employers during your career. And, 65 is no longer marks the exit ramp on your road to retirement Advertisement Related to this story In fact, just 14% of respondents age 50 or older in a new Merrill Lynch survey cited "hitting a certain … [Read more...]

Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending. Advertisement Related to this story Twelve of 22 surveyed by Bloomberg expect prices to gain next week and five were neutral. Paulson & Co. is already the biggest investor in the SPDR Gold Trust, the largest exchange- traded product backed by bullion, with a stake valued at $2.9 billion, a Securities and Exchange Commission filing Feb. 14 showed. Investors have 2,389.7 metric tons in ETPs, … [Read more...]