Boston, MA 02/03/2014 (wallstreetpr) – Anglo American plc (LON:AAL) which recently announced improved platinum production in South African due to reduced labor unrest has been maintained as ‘underperform” by analysts at RBC Capital. The rating agency has a price objective of GBX 1,300 ($21.36) on AAL. This price target is about 9.47 percent lower than the stock’s prevailing price. Anglo American plc (LON:AAL) hopes that 2014 will be a much better year for its operations in South Africa as it is getting a lot of its issues with mineworkers settled.
Best Buy Co., Inc. (NYSE:BBY) is trying to remain true to its promise to investors that it will continue to identify opportunities to improve performance and speed up business transformation. In the latest move, the company has announced job cuts in Canada whereby 950 employees will be laid off. However, the company stated that no stores will be closed in Canada at this moment. BBY is known to be trying to curb runaway operating costs by reducing stores count and adjusting workforce. The situation in which Best Buy Co., Inc. (NYSE:BBY) has found itself of late where holiday sales took a nosedive contrary to the norm means that the management has to move with speed to avoid any backlash in the stock as investors lose confidence. Late in January, BBY also announced plan to continue generating revenue from returned items, a move that could save it up to $400 million every year.
Goldcorp Inc. (USA) (NYSE:GG)’s controversial takeover bid for Osisko continues to generate more heat than light. The battle between the two mining companies is now heading for the court. Osisko is strongly opposed to the $2.5 billion takeover proposal, claiming that the whole episode is in bad faith. Yet Goldcorp Inc. (USA) (NYSE:GG) not only thinks it is making the best move for its investors, but has also vowed to defend is positions against allegations that it is using confidential information to push forward with the takeover.
