Touchstone, an imprint of Simon & Schuster, announced Thursday it would not release John Lefevre's "Straight to Hell: True Tales of Deviance and Excess in the World of Investment Banking," which had been scheduled to come out in October.
"In light of information that has recently come to our attention since acquiring John Lefevre's 'Straight to Hell,' Touchstone has decided to cancel its publication of this work."
Touchstone spokesman Brian Belfiglio said the publisher would have no further comment.
The Twitter feed, @GSElevator, had hundreds of thousands of followers and purported to offer an inside and irreverent take on the financial giant. But just weeks after Touchstone announced in January that it had reached a deal with the feed's purported author, The New York Times revealed his identity as John Lefevre, a former bond executive who was based in Texas and had never worked for Goldman Sachs, despite earlier public comments that he did.
Top Services Stocks To Watch For 2015: Thompson Creek Metals Company Inc.(TC)
Thompson Creek Metals Company Inc., through its subsidiaries, engages in mining, milling, processing, and marketing molybdenum products in the United States and Canada. The company?s principal properties include the Thompson Creek Mine and mill in Idaho; a metallurgical roasting facility in Langeloth, Pennsylvania; and a joint venture interest in the Endako Mine, mill, and roasting facility in British Columbia. It also holds interests in development projects comprising the Davidson molybdenum property and the Berg copper-molybdenum-silver property located in northern British Columbia; the Howard?s Pass property, a lead and zinc project situated in the Yukon territory-northwest territories border; and the Maze Lake property, a gold project located in the Kivalliq district of Nunavut. The company produces molybdenum products, primarily molybdic oxide and ferromolybdenum, as well as soluble technical oxide, pure molybdenum tri-oxide, and high purity molybdenum disulfide. As o f December 31, 2010, its consolidated recoverable proven and probable ore reserves totaled 462.2 million pounds of contained molybdenum in the Thompson Creek Mine and the Endako Mine. The company was formerly known as Blue Pearl Mining Ltd. and changed its name to Thompson Creek Metals Company Inc. in May 2007. Thompson Creek Metals Company Inc. is based in Denver, Colorado.
Advisors' Opinion:- [By Jake L'Ecuyer]
Leading and Lagging Sectors
Basic Materials shares gained around 0.24 percent in trading on Wednesday. Meanwhile, top gainers in the sector included Harmony Gold Mining Company (NYSE: HMY), up 4.1 percent, and Thompson Creek Metals Company (NYSE: TC), up 3.8 percent. In trading on Wednesday, cyclical consumer goods & services shares were relative laggards, down on the day by about 0.36 percent. - [By Garrett Cook]
Monday morning, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from AK Steel Holding (NYSE: AKS) and Thompson Creek Metals Company (NYSE: TC).
- [By Jake L'Ecuyer]
Top losers in the sector included Cliffs Natural Resources (NYSE: CLF), down 4 percent, and Thompson Creek Metals Company (NYSE: TC), off 3 percent.
Top 10 Gold Companies To Own For 2014: CME Group Inc.(CME)
CME Group Inc. operates the CME, CBOT, NYMEX, and COMEX regulatory exchanges worldwide. The company provides a range of products available across various asset classes, including futures and options on interest rates, equity indexes, energy, agricultural commodities, metals, foreign exchange, weather, and real estate. It offers various products that provide a means of hedging, speculation, and asset allocation relating to the risks associated with interest rate sensitive instruments, equity ownership, changes in the value of foreign currency, credit risk, and changes in the prices of commodities. CME Group owns and operates clearing house, CME Clearing, which provides clearing and settlement services for exchange-traded contracts and counter derivatives transactions; and also engages in real estate operations. Its primary trade execution facilities consist of its CME Globex electronic trading platform and open outcry trading floors, as well as privately negotiated transact ions that are cleared and settled through its clearing house. In addition, the company offers market data services comprising live quotes, delayed quotes, market reports, and historical data services, as well as involves in index services business. CME Group?s customer base includes professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, and governments. It has strategic partnerships with BM&FBOVESPA S.A., Bursa Malaysia Derivatives, Singapore Exchange Limited, Green Exchange, Dubai Mercantile Exchange, Johannesburg Stock Exchange, and Bolsa Mexicana de Valores, S.A.B. de C.V., as well as joint venture agreement with Dow Jones & Company. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group was founded in 1898 and is headquartered in Chicago, Illinois.
Advisors' Opinion:- [By Matthew Leising]
The study, commissioned by CME Group Inc. (CME), the Futures Industry Association, the Institute for Financial Markets and the National Futures Association, surveyed private insurance companies to gauge their interest in providing protection to customers if their futures broker goes bankrupt, according to a statement released today.
- [By Mark Thompson]
The Chicago Mercantile Exchange (CME), which operates the world's biggest derivatives market, is asking investors to stump up more cash to trade in financial products that provide protection against rising interest rates.
- [By Roberto Pedone]
One financial market player that's starting to move within range of triggering a major breakout trade is CME Group (CME), which offers products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. This stock has been in play with the bulls so far in 2013, with shares up sharply by 48%.
If you take a look at the chart for CME Group, you'll notice that this stock recently formed a triple bottom chart pattern at $70.42, to $69.88 and $70.28 a share. Following that bottom, shares of CME have now started to trend back above its 50-day moving average of $72.70 a share. That move is quickly pushing CME within range of triggering a major breakout trade.
Traders should now look for long-biased trades in CME if it manages to break out above some near-term overhead resistance levels at $75.50 to $77.65 a share and then once it clears its 52-week high at $79.45 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.84 million shares. If that breakout hits soon, then CME will set up to enter new 52-week-high territory above $79.45, which is bullish technical price action. Some possible upside targets off that breakout are $90 to $100 a share.
Traders can look to buy CME off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day at $72.70 a share or just below more support at $70 a share. One can also buy CME off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
Top 10 Gold Companies To Own For 2014: NEW GOLD INC.(NGD)
New Gold Inc. engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties. The company primarily explore for gold, silver, and copper deposits. Its operating properties include the Mesquite gold mine in the United States; the Cerro San Pedro gold-silver mine in Mexico; and the Peak gold-copper mine in Australia. The company also has development projects, including the New Afton gold, silver, and copper project in Canada; and a 30% interest in the El Morro copper-gold project in Chile. The company was formerly known as DRC Resources Corporation and changed its name to New Gold Inc. in June 2005. New Gold Inc. was founded in 1980 and is headquartered in Vancouver, Canada.
Advisors' Opinion:- [By Ben Levisohn]
Even bad news has failed to dent the rise in gold stocks today. NewGold (NGD), for instance, has gained 1.8% to $7.49 despite the fact that the wall of one of its mines collapsed. The Wall Street Journal has the details:
- [By Ben Levisohn]
Hamed singles out Goldcorp (GG) and Yamana Gold (AUY) as two companies that have strong production growth, falling costs, declining capital obligations and less debt than competitors. New Gold (NGD), meanwhile, should have the lowest all-on costs in the group at $731 an ounce, but its capital spending is likely to notes, Hamed says. Hamed rates Goldcorp and Yamana Overweight, while New Gold is rated Equal Weight.
- [By Ben Levisohn]
January is nearing an end, and that means one thing: Gold miners will start announcing earnings. New Gold (NGD) will get things started on Feb 6, followed by Kinross Gold (KGC) on Feb. 12 and Goldcorp (GG) and Barrick Gold (ABX) on Feb. 13.
- [By Ben Levisohn]
Bridges favorite stocks include Goldcorp, Newmont, Eldorado Gold (EGO) and New Gold (NGD).
Note, however, that these recommendations are all qualified in one way or another. Investors should keep that in mind before going all in on the gold miners.
Top 10 Gold Companies To Own For 2014: Australian Dollar(AU)
AngloGold Ashanti Limited primarily engages in the exploration and production of gold. It also produces silver, uranium oxide, and sulfuric acid. The company conducts gold-mining operations in South Africa; continental Africa, including Ghana, Guinea, Mali, Namibia, and Tanzania; Australia; and the Americas, which include Argentina, Brazil, and the United States. It also has mining or exploration operations in the Democratic Republic of the Congo, Guinea, and Colombia. As of December 31, 2010, the company had proved and probable gold reserves of 71.2 million ounces. The company has a strategic alliance with Thani Dubai Mining Limited to explore, develop, and operate mines across the Middle East and parts of North Africa. AngloGold Ashanti Limited, formerly known as Vaal Reefs Exploration and Mining Company Limited, was founded in 1944 and is headquartered in Johannesburg, South Africa.
Advisors' Opinion:- [By Sally Jones]
Anglogold Ashanti Limited (AU)
Down 65% over 12 months, Anglogold Ashanti Limited has a market cap of $4.85 billion, and trades with a P/E of 8.10.
- [By Holly LaFon]
The second largest market cap company, at $11.22 billion, is Anglogold Ashanti Ltd. (AU). Its afternoon stock price of $29.15 is within 5% of its three-year low, and has experienced a more significant drop than Newmont ��it is down 44.9% from its high price of $52.86 a share.
Top 10 Gold Companies To Own For 2014: Goldcorp Incorporated(GG)
Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. It produces and sells gold, silver, copper, lead, and zinc. The company was founded in 1954 and is headquartered in Vancouver, Canada.
Advisors' Opinion:- [By Paul Ausick]
Big Earnings Movers: AT&T Inc. (NYSE: T) is down 1.9% at $34.62 on earnings that were good but not great. Symantec Inc. (NASDAQ: SYMC) is down 12.8% at $21.48 on lagging revenues and a weak outlook. Fusion-io Inc. (NYSE: FIO) is down 24.4% at $9.81 on soft results. Goldcorp Inc. (NYSE: GG) is up 4% at $26.62 after reporting earnings this morning. Xerox Corp. (NYSE: XRX) is down 10.4% at $9.61 on a weak outlook tied to a failing turnaround plan.
- [By Lee Jackson]
Barrick Gold Corp. (NYSE: ABX), Goldcorp Inc. (NYSE: GG), Kinross Gold Corp. (NYSE: KGC) and Newmont Mining Corp. (NYSE: NEM) are all sold short in the account, in equal lots of 25% each. This provides the investor with the basket of stocks that make up the other part of the trade.
- [By Matt DiLallo]
Shares of Goldcorp (NYSE: GG ) are down after the company reported a $1.93 billion loss on the second quarter. A record drop in gold prices during the quarter was combined with a big asset write-down, leading to the loss. However, digging deeper into the numbers, it wasn't all bad.
Top 10 Gold Companies To Own For 2014: Golden Star Resources Ltd(GSS)
Golden Star Resources Ltd., a gold mining and exploration company, through its subsidiaries, engages in the acquisition, exploration, development, and production of gold properties. It owns and operates the Bogoso/Prestea gold mining and processing operation that covers approximately 40 kilometers of strike along the southwest-trending Ashanti gold district in western Ghana; and the Wassa open-pit gold mine located to the east of Bogoso/Prestea in southwest Ghana. The company also has an 81% interest in the Prestea underground gold mine located in Ghana. In addition, it holds interests in various gold exploration projects in Ghana, Sierra Leone, Burkina Faso, Niger, and Cote d?Ivoire, as well as holds and manages exploration properties in Brazil in South America. The company was founded in 1984 and is based in Littleton, Colorado.
Advisors' Opinion:- [By Sean Williams]
Golden Star Resources (NYSEMKT: GSS )
It's simple physics: The bigger they are, the harder they fall. When gold prices nosedived earlier this week, gold miners with historically higher operating costs took the brunt of the hit. For the most part, that meant that development-stage miners, and those operating in Africa, where labor and political costs make cost-effective mining a challenge, took it on the chin. Possibly no stock was hammered more than Golden Star Resources, a gold miner in Ghana, which lost about one-quarter of its value on Monday alone. - [By Patricio Kehoe] ating price of the commodity, along with the geopolitical risks involved in mining in African nations such as Ghana, are just two of the obstacles the firm is facing. In addition, as one of the smallest gold mining firms in the industry, with a market cap of just $122 million, Golden Star has had a very difficult time financing its latest expansion projects. With share prices tumbling towards all-time lows, gurus such as Steven Cohen, Chuck Royce and Arnold Schneider have already sold out their positions in the troubled firm.
Why Have Gurus Lost Faith in Golden Star?
Despite aggressive expansion over the past decade, the Toronto-based gold mining firm has not been able to take advantage of its increased production output. Gold prices might have exploded over a ten-year period, yet the recent six-month decline has put a huge strain on Golden Star. The expedited maturation of its mines is particularly troubling, since the accelerated extraction rates, which allowed for short-term profits, are now falling considerably. The impact of the company�� excessive overproduction on profits and growth is clear: decreasing gold reserves mean less production, and thus reduced revenue for the gold miner. When the decline in metal prices are taken into account, the outlook is even more grim.
In addition to overexpansion at the wrong time, Golden Star�� position has weakened due to its comparably less efficient operations. Unlike industry peers, such as IamGold Corp. (IAG) or Gold Fields Ltd. (GFI), the majority of the Toronto-based miner�� assets contain refractory ore, which is far more expensive to extract than non refractory ore. And, in an attempt to switch production to the lower cost gold ore, and thus increase margins, Golden Star has depleted its mines��non refractory ore. With low reserves and mounting cash costs, the firm inevitably turned to new acquisitions.
Overpriced Acquisitions and Geopolitical Risk
The purchase
Top 10 Gold Companies To Own For 2014: Agnico-Eagle Mines Limited(AEM)
Agnico-Eagle Mines Limited, through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. The company primarily explores for gold, as well as silver, copper, zinc, and lead. Its flagship property includes the LaRonde mine located in the southern portion of the Abitibi volcanic belt, Canada. The company was founded in 1953 and is based in Toronto, Canada.
Advisors' Opinion:- [By Charley Blaine]
Gold mining stocks are pretty much a disaster. Newmont Mining (NYSE: NEM) is down 50 percent in 2013. Agnico Eagle Mines (NYSE: AEM) is off 51 percent. The NYSE Arca Gold BUGS Index is down 56 percent.
No comments:
Post a Comment