Sunday, 14 Jul 2024

European Shares To Open On Firm Note Despite Growth Worries, Sino-US Tensions

Taseko Mines Shares Surge On Receiving Final UIC Permit For Florence Copper Project

Shares of Taseko Mines Limited (TGB) are up 17% following the announcement of the U.S. Environment Protection Agency’s (EPA) issuance of a final Underground Injection Control Permit (UCI) for the Florence Copper Project in Arizona.

TGB is trading on the New York Stock Exchange at $1.53, up 17.69% or $0.23 per share. It has traded between $0.98 and $1.90 in the past 52-week period.

Florence Copper is set to have an annual production capacity of 85 million pounds of copper with $1.11 per pound C1 cash costs over a 22-year mine life once commercial operations begin.

According to the March 2023 Technical Report for the Project, which is supported by the successful operation of a production test facility, the Project has an after-tax NPV (8%) of US$930 million at a copper price of $3.75 per pound.

Stuart McDonald, President and CEO of Taseko, commented, “The Florence Copper Project is one of the least capital-intensive copper projects in the world and will have an environmental footprint smaller than any conventional open-pit or underground mining operation of comparable size. Low water use, low energy consumption, and low carbon emissions make Florence Copper an exceptionally green project that will supply refined copper to the rapidly growing US domestic market,”

MITEK SYSTEMS INC Q2 Profit Increases, beats estimates

MITEK SYSTEMS INC (MITK) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $4.4 million, or $0.10 per share. This compares with $0.4 million, or $0.01 per share, in last year’s second quarter.

Excluding items, MITEK SYSTEMS INC reported adjusted earnings of $13.1 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 35.2% to $45.3 million from $33.5 million last year.

MITEK SYSTEMS INC earnings at a glance (GAAP) :

-Earnings (Q2): $4.4 Mln. vs. $0.4 Mln. last year.
-EPS (Q2): $0.10 vs. $0.01 last year.
-Analyst Estimate: $0.21
-Revenue (Q2): $45.3 Mln vs. $33.5 Mln last year.

-Guidance:
Full year revenue guidance: $169.0M – $171.0M

10 Words That Don\u2019t Mean What You Think They Do

The English language contains over 200,000 words, drawing from Germanic, Latin, Greek, and over 350 other language roots. New words get added to English every year. (For instance, here are 30 words that didn’t exist 30 years ago.)

Given its large size and diverse origins, English can be confusing, filled with ambiguities and words that are easily misused or misunderstood. Like most languages, English evolves over time and word meanings can change.

For example, “nice” used to mean foolish and “awful” meant awe-inspiring. More recently, “hopefully” has come to mean “it is to be hoped,” though it originally meant “with hope.” (These are 36 old words we use today but with new meanings.)

For example, “nice” used to mean foolish and “awful” meant awe-inspiring. More recently, “hopefully” has come to mean “it is to be hoped,” though it originally meant “with hope.”

Click here for 10 words that don’t mean what you think they do

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Adobe Inc. Q3 Profit Increases, beats estimates

Adobe Inc. (ADBE) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $1.40 billion, or $3.05 per share. This compares with $1.14 billion, or $2.42 per share, in last year’s third quarter.

Excluding items, Adobe Inc. reported adjusted earnings of $1.88 billion or $4.09 per share for the period.

Analysts on average had expected the company to earn $3.98 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 10.4% to $4.89 billion from $4.43 billion last year.

Adobe Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.40 Bln. vs. $1.14 Bln. last year.
-EPS (Q3): $3.05 vs. $2.42 last year.
-Analyst Estimate: $3.98
-Revenue (Q3): $4.89 Bln vs. $4.43 Bln last year.

-Guidance:
Next quarter EPS guidance: $4.10 to $4.15
Next quarter revenue guidance: $4.975 – $5.025 Bln

European Shares To Open On Firm Note Despite Growth Worries, Sino-US Tensions

European stocks look set to open on a steady note Friday despite weak cues from Wall Street and Asia.

Asian stocks were broadly lower, with Hong Kong markets shut due to a tropical storm.

Tech shares were losing ground as a result of the deepening Sino-U.S. tensions over everything from trade and technology to Taiwan.

Data showed Japan’s economy grew less than initially estimated in the second quarter and wages slumped in July, stirring fresh concerns over slower global economic growth.

A rally in the dollar stalled, helping gold prices tick higher. Oil prices eased for a second day on demand concerns but were still headed for a second consecutive weekly gain.

U.S. stocks ended mostly lower overnight as fears grew over China’s iPhone curbs and initial jobless claims fell to their lowest level since February, raising worries about sticky inflation and interest rates.

The tech-heavy Nasdaq Composite shed 0.9 percent to extend losses for a fourth day running and the S&P 500 eased 0.3 percent while the Dow inched up 0.2 percent.

European stocks ended mixed on Thursday amid inflation and interest rate worries.

The pan European STOXX 600 slipped 0.1 percent to log its seventh consecutive negative session – marking the longest losing streak for the index since February 2018.

The German DAX slipped 0.1 percent, while France’s CAC 40 finished marginally higher and the U.K.’s FTSE 100 edged up 0.2 percent.

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