Orlando, FL -- (SBWIRE) -- 08/15/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On: Alcatel Lucent SA (ADR) (NYSE:ALU) and Kinross Gold Corporation (USA)(NYSE:KGC).
Alcatel Lucent SA (ADR) (NYSE:ALU) shares closed at $2.74. The company is seeking to reduce the rate on about $2.1 billion of loans it obtained in January, according to a person with knowledge of the deal on August 1.
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Additionally, the company under new Chief Executive Officer Michel Combes, on July 30 said it beat analysts’ estimates as cost cuts took hold and said Qualcomm Inc. agreed to buy a minority stake. The second-quarter operating profit, excluding reorganization and impairment costs, was 24 million euros ($32 million), as sales rose 1.9 percent to 3.61 billion euros, the Paris-based network-equipment maker said today. Analysts had predicted a loss and a revenue decline.
Kinross Gold Corporation (USA)(NYSE:KGC) shares increased 7.24% to $5.78. Citigroup downgraded Kinross Gold citing a lack of catalysts following the tabling of the Tasiast project and dividend elimination. Citi lowered its price target for shares to $5.80 from $6.
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Additionally, the company on July 31 announced its results for the second quarter ended June 30, 2013. The reported net loss for the quarter included an after-tax non-cash impairment charge of $2,289.3 million, largely as a result of lower short-term and long-term gold price assumptions. In addition, Kinross recorded a charge of $720 million relating to the previously announced decision to cease development of its Fruta del Norte (FDN) project in Ecuador, which has been classified as a discontinued operation.
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