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Occidental Swings to Loss, Posts Big Write-Down on Commodities Slump

Wall Street Journal - 1/30/2015 1:35:16 AM
Occidental Petroleum Corp. swung to a fourth-quarter loss as lower commodities prices offset production growth and led to a big asset write-down. The company pegged its 2015 capital spending budget at $5.8 billion, down by a third from 2014 levels ...

Toyota, Nissan Seen Boosting Profits on Commodity Prices

Bloomberg - 1/29/2015 12:24:52 AM
(Bloomberg) -- Toyota Motor Corp. and Nissan Motor Co. are benefiting from a decline in the price of commodities like steel and rubber, which will make it cheaper to produce new cars and give an extra boost to profits. Seven analysts who cover the industry ...

Sesa to cut spending after fall in commodity prices

Firstpost - 1/29/2015 6:54:24 PM
MUMBAI (Reuters) - Sesa Sterlite Ltd said on Thursday it was taking steps to reduce operating and capital costs, the latest miner to address the impact of sharp falls in the prices of iron ore, crude oil and other commodities. The company, which posted a ...

Update: Caterpillar Slashes 2015 Estimates As Depressed Mining Industry, Oil Prices And Commodity Prices Continue

Seeking Alpha - 1/29/2015 1:07:49 AM
Caterpillar (NYSE:CAT) has announced Q4 2014 earnings per share that decreased 20 percent to $1.35 as a result of a depressed mining industry and lower prices for oil and mined commodities, such as copper, coal and iron ore. CAT's backlog decreased to $17 ...

Commodity prices collapse to lowest in 12 years

Opalesque Hedge Fund News - 1/30/2015 1:49:35 AM
The Bloomberg Commodity index, which tracks the global prices of 22 different commodities such as gold and oil, collapses to lowest level since August 2002. The world’s leading index of commodity prices has slumped to its lowest level in more than 12 ...

Falling Commodity Prices Hitting Australia’s Richest - 1/29/2015 7:34:22 AM
Plunging commodity prices have knocked Clive Palmer off Australia’s top 50 rich list. Mr Palmer's estimated wealth has fallen below $US550 million - the cut off for the latest Forbes Australia list - as the value of his coal and iron ore assets fell.

Dairy prices below sustaintable levels - report

New Zealand Herald - 1/30/2015 12:59:29 AM
Dairy commodity prices have fallen below sustainable levels in the medium term but lower supply is expected to underpin a modest recovery in the second half of this year, Rabobank said in a commodities outlook. The rural lending specialist said it expects ...

Goldman cuts outlook for whole commodity sector

Yahoo Finance - 1/28/2015 3:20:50 PM
After countless oil price downgrades, analysts at Goldman Sachs have cut their outlook for the commodity sector as a whole. Goldman downgraded commodities on Wednesday-including energy, metals, agriculture and livestock-to "underweight" from "neutral" on a ...

SocGen: Commodities Crash Favors Developed Markets in Short Term

News Max - 1/29/2015 8:53:06 AM
Falling commodity prices favor investments in developed countries over emerging markets during the first half of this year, according to a Wall Street analyst. “Commodity turmoil is not over yet and it could still have major structural repercussions in t ...

Commodity ETFs May See More Pain Before Things Get Better

ETF Trends Setting The Pace - 1/29/2015 8:56:06 PM
“Despite the large declines in commodity prices, we see risks as still skewed to the downside over the near-term,” Goldman Sachs analyst said in the article. Specifically, Goldman points to oil as a large reason for the poorer outlook as falling energy ...

Oil prices fall as output remains high, producers slash costs

Reuters - 1/30/2015 2:32:32 AM
Analysts said that the market outlook remained weak as producers were keeping output high and were adjusting to a lower price environment. "It looks increasingly difficult to see any voluntary supply cutbacks in commodity markets," ANZ bank said on Friday ...

Commodity Prices Tumble to Lowest Level Since Mid-2009, Says Scotiabank's Patricia Mohr - 1/29/2015 1:03:39 PM
TORONTO, ON--(Marketwired - January 29, 2015) - Scotiabank's Commodity Price Index plunged -10.3% month-over-month (m/m) and -15.4% year-over-year (yr/yr) in December to mid-2009 levels. "A fight for market share in international oil and iron ore markets ...

Enterprise Earnings Report Signals Entering Another Commodity Price Cycle

24/7 Wall ST - 1/29/2015 10:33:19 AM
Enterprise Products Partners L.P. (NYSE: EPD) is among the largest and best run master limited partnerships (MLPs) in North America. So what are investors supposed to make of it falling short of earnings and revenue expectations for the fourth quarter?

Bellatrix Announces Updated 2015 Capital Budget, Guidance and Recently Executed Commodity Fixed Price Contracts

CNN Money - 1/29/2015 4:31:14 PM
In response to continued volatility of oil and gas prices, Bellatrix announces an updated 2015 net capital budget of up to $200 million, reduced from the previously announced $300 million. The revised capital budget is designed to preserve Bellatrix's ...

Japanese automakers get even higher profits as commodity prices drop

Inautonews - 1/29/2015 11:44:54 AM
Toyota and Nissan, the two largest Japanese automakers could make higher profits because of the recent decline in commodity price declines – with internally produced cars even cheaper to manufacture. Commodities, such as steel and rubber, are seen by ...