Harmony Gold Q1 headline loss misses expectations
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South African miner Harmony, seeking to acquire rival Gold Fields, posted a first quarter headline loss per share of 110 cents on Monday, worse than expected.
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JOHANNESBURG  -- Gold Fields, the takeover target of smaller rival Harmony, contained its costs on its South African mines during the September quarter.
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ATTEMPTS by mining house Gold Fields attempts to resist rival Harmony&#39;s hostile takeover bid were dealt a major blow yesterday, after a last-minute switch by Sanlam Asset Managers effectively torpedoed its plan to list its international assets in Canada.
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US gold futures fell from a 16-1/4-year peak on Thursday as traders took profits from a rally above $445 an ounce amid a softer euro against the dollar and after a new much-hyped gold security launched in New York.
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Have weak first-quarter earnings pulled the plug on this party?
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The results for the current quarter came in slightly below expectations and the company sounded a note of caution on the global economy.
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LONDON (CBS.MW) -- South African mining group Harmony (UK:HRM) said it would &quot;shortly post&quot; a proposed $8.1 billion, stock-based takeover of South African miner Gold Fields (GFI) .
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Cisco (CSCO:Nasdaq - news - research) disappointed Wall Street Tuesday with a first quarter profit that was merely in line with estimates, rather than the customary penny ahead.
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Gold mining company stocks fell on  Monday as the price of the metal dropped below $600 per ounce  for the first time in more than two months.
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Harmony Gold Mining Co., the biggest miner of South African gold, may report a fifth consecutive quarterly loss while Gold Fields Ltd.
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TORONTO (CP) - Shares of Iamgold fell more than 10 per cent after its proposed merger with Gold Fields Ltd. was thrown into doubt Monday as South Africa&#39;s Harmony Gold Mining Company Ltd.
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Gold hit an 11-day low on Monday as a weaker euro versus the dollar encouraged investors to lock in profits from last week's run to record highs, but broader financial market uncertainty was seen limiting losses.
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Gold shrugged off a tumbling U.S. dollar and fell more than 1 percent on Monday as investors cashed in on the metal's rally to its highest in nearly three decades last week.
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Bear Stearns Cos Inc  on  Thursday reported its first quarterly loss in the company's  history, capping a fiscal year when the fifth-largest U.S.  investment bank took a beating on bad bets on risky subprime  mortgages.
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Harmony&#39;s bid to create the world&#39;s biggest gold miner suffered a blow yesterday when the first part of its offer for South African rival Gold Fields received a lukewarm reception from shareholders.
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The company said its net loss in the fiscal third quarter ended Dec. 1 was $84.8 million, or 12 cents a share, compared with a net profit of $1.1 million.
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Johannesburg - South African gold mining giant Gold Fields on Wednesday warned its shareholders that rival Harmony was &quot;financially stretched&quot; and was offering them overvalued shares in a hostile takeover bid.