The City News: Antofagasta plc (ANTO), Rolls-Royce Holding PLC (RR), GlaxoSmithKline plc (GSK) & More

Page 1 of 2

Editor’s Note: Related tickers: Wal-Mart Stores, Inc. (NYSE:WMT), Tesco Corporation (USA) (NASDAQ:TESO), Goldman Sachs Group, Inc. (NYSE:GS), Virgin Media Inc. (NASDAQ:VMED), BT Group plc (ADR) (NYSE:BT), Theravance Inc (NASDAQ:THRX), Transocean LTD (NYSE:RIG), The Boeing Company (NYSE:BA), BHP Billiton Limited (NYSE:BHP), Antofagasta plc (LON:ANTO), Rolls-Royce Holding PLC (LON:RR), GlaxoSmithKline plc (LON:GSK), British Sky Broadcasting Group plc (LON:BSY), Wm. Morrison Supermarkets plc (LON:MRW), J Sainsbury plc (LON:SBRY)

GlaxoSmithKline plc (ADR) (NYSE:GSK)

Miners seen offering dividend promise as spending drops (Reuters)
Mining companies, under pressure to rein in spending and sell non-core assets, could hand back more cash than expected to shareholders, even in the event of weaker commodity prices. The mining sector has traditionally taken a conservative approach to payouts, as companies preferred to plough spare cash into mines and projects. Yet with investors calling for spending restraint and better returns, miners could surprise with share buybacks or special dividends, analysts said on Thursday. …Nomura said copper producer Antofagasta plc (LON:ANTO) and BHP Billiton Limited (NYSE:BHP), the world’s largest miner, also stood out with “significant balance sheet headroom”, though family-controlled Antofagasta remains among the sector’s most conservatively run companies.

Antofagasta plc Receives “Neutral” Rating from Nomura (ANFGY) (UtahPeoplesPost)
Antofagasta plc (LON:ANTO)’s stock had its “neutral” rating restated by analysts at Nomura in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports. Other equities research analysts have also recently issued reports about the stock. Analysts at Liberum Capital reiterated a “hold” rating on shares of Antofagasta plc (LON:ANTO) in a research note to investors on Friday, May 3rd. Separately, analysts at Beaufort Securities reiterated a “buy” rating on shares of Antofagasta plc (LON:ANTO) in a research note to investors on Thursday, May 2nd. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Antofagasta plc (LON:ANTO) in a research note to investors on Wednesday, May 1st.

Rolls-Royce Holding PLC : Rolls-Royce awarded $35 million contract to repair US Navy T56 engines (4-Traders)
Rolls-Royce Holding PLC (LON:RR) has been awarded a $35 million contract extension for repair and overhaul of T56 engines on US Navy aircraft. The services contract covers depot-level repair of the T56 Series III engine modules to support fielded P-3 and derivative aircraft, as well as T56-powered C-130 and C-2 aircraft. …he repairs will take place at Rolls-Royce Holding PLC (LON:RR) Engine Services Oakland, US (RRESO). In addition to T56 repair and overhaul, RRESO services AE 1107C, F405 and M250 engines for other military customers.

Rolls Royce to replace engine on grounded LOT Dreamliner-airline (Reuters)
Rolls Royce (LSE: RR.L – news) will replace one of the engines of a The Boeing Company (NYSE:BA) Dreamliner owned by Polish carrier LOT and grounded in Chicago, LOT’s spokesman said on Monday, citing a technical issue. Marek Klucinski confirmed the report by Polish TVN24 news channel. “One of the engines will be replaced by Rolls Royce. We are running checks on all four engines in our (two) Dreamliners,” the spokesman said. The other Dreamliner is grounded in Warsaw. “The engine will be replaced by Wednesday. We expect both our Dreamliners to be operational by the end of May and confirm that they will be reinstated in the fleet on June 5,” the spokesman said. LOT was the first European airline to take delivery of The Boeing Company (NYSE:BA)’s trouble-plagued Dreamliner jets last year before they were grounded due to battery issues.

Rolls-Royce Holding PLC : Rolls-Royce to power 100th Drillship (4-Traders)
Rolls-Royce Holding PLC (LON:RR) has signed a contract to deliver drillship propulsion systems to the world’s largest drilling company Transocean LTD (NYSE:RIG). This latest contract marks the 100th drillship to feature Rolls-Royce Holding PLC (LON:RR) propulsion equipment. In recent months Rolls-Royce has won orders to supply propulsion systems for seven new drillships totaling close to £100 million, including options, from a variety of customers including Transocean LTD (NYSE:RIG). These ships will be built in the Samsung, Daewoo and Hyundai shipyards in Korea. Rolls-Royce Holding PLC (LON:RR) is the leading supplier of large thrusters to these specialist vessels, with a market share in excess of 70 per cent. Drillships typically operate in the oil and gas fields off the coasts of Brazil, West Africa and the Gulf of Mexico.

Elan strikes $1 bln royalty deal with Theravance (Reuters)
Elan stepped up its bid to keep its independence on Monday by agreeing a $1 billion deal to buy 21 percent of the royalties that U.S. company Theravance Inc (NASDAQ:THRX) receives from GlaxoSmithKline plc (LON:GSK) for its respiratory drugs. The Irish drug maker last month rejected a $5.7 billion bid from Royalty Pharma and has made a series of moves to counter the bid, contingent on 90 percent acceptance, since the U.S. investment firm declared its interest in February. …Elan’s chief executive Kelly Martin denied that Monday’s deal was designed to frustrate the Royalty bid.

Glaxo, Theravance Win Approval for Lung Disease Treatment (3) (BusinessWeek)
GlaxoSmithKline plc (LON:GSK) and Theravance Inc (NASDAQ:THRX) won U.S. approval of their once-daily drug Breo Ellipta to treat a lung disorder that is the third-leading cause of death. Theravance Inc (NASDAQ:THRX) rose to its highest price in almost six years after the Food and Drug Administration today cleared the dry powder inhaler to treat exacerbations of chronic obstructive pulmonary disease, or COPD, and airflow obstruction. COPD, often caused by cigarette smoking, is an umbrella term for emphysema and chronic bronchitis.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!