Lakeway, NY -- (SBWIRE) -- 02/15/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
On Thursday, Barrick Gold Corporation (USA)(NYSE:ABX) released a report stating $3.06 billion loss in the fourth quarter. The fall in the revenue is due to Barrick’s copper business. However, the adjusted profit was the company was higher than what Wall Street predicted.
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In a recent statement, the company said it doesn’t have any plans for new mines, considering the tough competition in the industry. Also, the company is considering the expansion of its Lumwana copper mine.
In morning trading, the value of the company’s shares rose by 5 percent.
The total loss in the fourth quarter amounted to $3.06 per share. After excluding $4.2 billion in impairment charges, earnings per share are estimated to be $1.11.
The revenue increased by 11 percent amounting to $4.19 billion.
According to FactSet, analysts were expecting profit of $1.06 per share on $3.84 billion revenue.
High prices of gold and copper affected the quarter’s profit heavily.
For the entire year, the Canadian mining company lost $665 billion, or 66 cents per share. In comparison to last year, the revenue for the company increased from $14.24 billion to $14.55 billion.
In 2013, the gold production is expected to lie anywhere between 7 million and 7.4 million ounces. For copper production, the volume is expected to total between 480 million and 540 million pounds.
On Wednesday, a documentary was aired on German television talking about the harsh conditions staff members working with temporary agencies on Amazon.com, Inc.(NASDAQ:AMZN) behalf face. Amazon released an official statement saying that it will investigate the matter.
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ARD public television cited staff members who told that they were paid less than promised. The security staff that wears clothes similar to neo-Nazi threatens the staff members.
Ulrike Stoecker, spokeswoman for Amazon, told The Associated Press in an email that Amazon does not tolerate any kind of discrimination or intimidation. She also said that Amazon did not hire the security company and they will certainly examine the allegations. If any of the allegations prove to be true, the company will take appropriate measures.
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