mckaydoug60 , you are certainly a delight to have here on board . Thank you for discussing some common sense .
costcocripplebraindamaged ,some people just cant see a good thing when it's there , they are just blinded by what they convince their self of .
costcocripplebraindamaged ,I understand their is no great loss here
ravage ,it's obvious this guy has no idea what a 7 % increase means .
BHP Billiton (BBL) Shares Pressured by Demerger
By: Jay Hawk, dated August 19th, 2014
Shares of BHP Billiton Plc (BBL) were off -3.59 or -5.16 percent to $65.93 per share in premarket trading this morning, while BHP Billiton Ltd (BHP) shares were off -2.58 or -3.55 percent to $70.18 per share in the premarket. The two stocks of the metals giant sold off after news that the company would be spinning off assets to form a new global mining and metals company. BHP Billiton Plc stock closed at $69.52 per share, up +0.32 or +0.46 percent, while BHP Billiton Ltd closed at $72.76 per share, up +0.31 or +0.43 percent in Monday’s regular trading session.
Melbourne, Australia based BHP Billiton Plc and Ltd is a multinational mining, metals and petroleum company and the largest mining company in the world by revenue. The company was formed by the 2001 merger of the Australian Broken Hill Proprietary Company Ltd or BHP, and the Anglo/Dutch Billiton Plc. The company was then dually listed on the Australian Securities Exchange and the London Stock Exchange. The Australian shares (BBL) represent the largest company in Australia by market capitalization, while the London listing (BHP) is a component of the FTSE 100 and the 9th largest company listed on the London Stock Exchange.
BHP Billiton announced early this morning that it would be forming a new global company around its coal, aluminum, nickel, manganese and silver assets in a demerger leaving the parent company, BHP Billiton to concentrate on its copper, coal, petroleum and long-life iron ore and potash basins.
The new company, based in Perth, Australia will have BHP’s current Chief Financial Officer, Graham Kerr as Chief Executive and David Crawford as Chairman. The company will have approximately $15 billion in assets, with the demerger scheduled to be completed by the first half of 2015. The assets include the company’s Cannington lead and silver mines and Illawara thermal coal mines in Australia; nickel mines in South Africa and Columbia and their South African coal division
BHP Billiton Chief Executive Officer, Andrew Mackenzie said in a statement that, “With a simpler portfolio, we are targeting sustainable, productivity-led gains of at least $3.5B per annum by the end of the 2017 financial year”. BHP Billiton Chairman, Jacques A. Nasser said that, “We believe the proposed demerger, if implemented, will accelerate the simplification of the group’s portfolio, provide investors with choice and unlock value in both companies”.
The new company’s shares will be spun off to BHP’s existing shareholder that will receive 100 percent of the new stock. The stock is expected to be listed in Australia with a possible secondary offering in South Africa and American Depository Receipts or ADRs for trading in the United States.
In a separate news release, BHP Billiton showed a +23.2 percent rise in fiscal year 2014 profits to $13.8 billion, versus $11.2 billion one year ago. Despite the earnings news, both BHP Billiton stocks are selling off in the premarket and will probably continue selling off in the regular trading session. BHP Billiton shares had been +1.4 percent higher before the announcement overseas on expectations the company would announce a share buyback plan along with the demerger.
That's wall street for ya . They look at every little news item , either it's good or bad , how ever they want to take it and they will run with it , up or down .
You look at the wrong headlines tooth.
The Wall Street Journal
By James Marson
MOSCOW — Ukrainian artillery destroyed a large part of a column of Russian armored vehicles that had been seen entering Ukraine from Russia, Ukrainian President Petro Poroshenko said.
rich , the above title is on the headline news from the Wall St.Journal today , and I wanted to verify the very same thing that what you had mentioned in a previous message. The article states that heavy equipment makers are pushing GPS devices to test or for cast the need of new machinery or the need of news parts .To make it brief , the writer stated that the makers of heavy machinery ,( Caterpillar and Komatsu ) , are saying that customers may be able to save money and they ,the producers , will still make big profits on the parts .
Again , I am writing this to show the verification of what you said about Caterpillar making a profit on parts in a much earlier message.
I'll say it again , you do know what you are talking about .
I just ran across this article , and thought is was nice to see that the "Cat " CEO was giving credit where credit was due , namely our in inefficient Congress.
Oberhelman Pens Op-Ed on Infrastructure and Risks to U.S. Competitiveness
In a July 10 opinion article headlined, "Congress must move on the Highway Trust Fund," Caterpillar Chairman and CEO Doug Oberhelman outlined the risks to U.S. competitiveness if Washington's leaders can't fix short and long term infrastructure funding issues.
"American companies implement just-in-time inventory and on-demand supply chains. We produce vehicles and machines with greater fuel efficiency and lower carbon emissions. We lead the world in innovation, inventing better products and better processes," Oberhelman wrote. "We unleash all this creativity, and then are constrained by inefficient infrastructure, much of which was built when cars still drove with leaded gas.
imgoingtosellintostrength, I do not think that "cat' is doing any buy backs right now.
Totally agree rich, thanks for such good input.
@earlvv , that is the best reasoning I've heard yet . Very good.
Rich and sponeychippey , no doubt,they will be out in full force spewing their nonsense and made up reasons ,as you say , conspiracy stoked .