CHICAGO, Sept. 13, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includethe Gold Fields Limited (NYSE:GFI-Free Report), Harmony Gold Mining Company Limited (NYSE:HMY-Free Report), Anglo Gold Ashanti(NYSE:AU-Free Report), Sibanye Gold Limited (NYSE:SBGL-Free Report) and Texas Instruments (Nasdaq:TXN-Free Report).
Gold Fields Limited (NYSE:GFI-Free Report) announced that National Union of Mineworkers (NUM) ended the strike at its South Deep mine after they received a two-year salary deal from the Chamber of Mines. The striking workers had demanded higher wages which could not be given at that time on account of falling gold prices.
According to the new two-year wage deal, the employees belonging to Category 4 and 5 and rock drill operators will receive an 8% hike in their salary while pay of other employees will be raised by 7.5%.
In the second year of the deal, employees will receive further Consumer Price Index (CPI)-linked increases effective Jul 1, 2014. The current monthly living out allowance will increase to R2,000 from the current level of R1,640 in two R180 steps, on Sep 1, 2013, and Sep 1, 2014. The new wage deal at South Deep will also apply to members of the other union active on the mine, UASA.
Gold Fields, which is one of the major South African gold miners, along with Harmony Gold Mining Company Limited (NYSE:HMY-Free Report), Anglo Gold Ashanti(NYSE:AU-Free Report) and Sibanye Gold Limited (NYSE:SBGL-Free Report), released its second quarter results in Aug 2013. The company reported adjusted (barring one-time items) loss from continuing operations of 5 cents a share, in contrast to the prior-year quarter's earnings of 15 cents.
On a reported basis, the company posted a net loss (attributable to Gold Fields stockholders) from continuing operations of $128.5 million or 18 cents per share in the quarter compared with a net income of $105 million or 15 cents per share a year ago. The sharp loss was a result of lower gold price, less gold quantity sold and the negative gold price adjustment of $13 million associated with prior and present concentrate shipments at Cerro Corona.
Revenues decreased about 22.6% year over year to $637.1 million in the quarter from $823 million registered in the year-ago quarter. Average gold price declined 13.3% to $1,372 per ounce from $1,582 per ounce recorded in the second quarter of 2012.
Gold Fields currently retains Zacks Rank #2 (Buy).
Texas Instruments Narrows Q3 View
Recently, Texas Instruments (Nasdaq:TXN-Free Report), or "TI," narrowed its revenue and earnings expectations for the third quarter of 2013.
The chipmaker now expects sales of $3.15 billion–$3.29 billion versus its previous guidance of $3.09 billion–$3.35 billion. The earnings outlook has also been narrowed to 51 cent–55 cents per share from the previous guidance of 49 cents–57 cents.
Though the chipmaker has tightened its guidance range, the midpoint remains unchanged. According to data compiled by Bloomberg, analysts expect sales of $3.23 billion, slightly above the midpoint of management's guidance of $3.22 billion. However, earnings expectations of 53 cents were in line with management's guidance.
Management stated that the company is seeing improving demand for its chips from industrial customers with automotive continuing to grow sequentially in the third quarter. TI said that the demand for chips used in handsets, game console and notebooks are returning to growth.
We believe that the slight increase in demand will increase the orders for the company, which will have a positive impact on the company's sales.
Like other chipmakers, TI has struggled in recent quarters due to a slow global economy and weak consumer spending. To maintain growth momentum, the company responded in part by cutting costs and trying to expand the use of its application processors on embedded solutions for the automobile, industrial and other non-consumer markets, which have a longer life cycle.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.