EmailTrading lower following earnings/guidance: CGR -5%, VRS -9.6%, SLW -4.4%, and IAG -3.4% Broker Research: USEG -1.6% downgraded at Global Hunter Securities, RNF +3.9% upgrades at Feltl, SUTR -6.1% downgraded at boutique firm, LPX -1.8% upgraded at RBC Capital.
News: CERP +20% agreement to recover $8.6 mln of outstanding receivables, MCP -0.36% announces offering of $650 mln aggregate principal amount of senior secured notes, KALU -0.68% announces $200 mln private placement of senior notes due 2020, RBY -0.68% provides drilling update for F2 Gold System, Phoenix Gold Project, Red Lake, Ontario; 156.9 g/t gold over 1.7 metres (4.58 oz/ton gold over 5.6 feet) from the WLB2 Zone, USEG -1.6% considering federal land exchange for Mt. Emmons property, CBT -1.7% increased its quarterly dividend to $0.20/share from $0.18/share, SA -2.9% new preliminary feasibility study improves Seabridge Gold's KSM Project; net project cash flow (pre-tax) has increased by 25% to $20.3 bln, HW -3.5% announces redemption of 16% convertible senior subordinated notes due 2016 and 2-7/8% convertible senior subordinated notes due 2016, ASM -5.2% updates progress at San Gonzalo; decline to the fourth level is nearly complete with 79 m remaining until level four is reached, HBM -5.2% announces offering of $400 mln aggregate principal amount of senior unsecured notes due 2020, TLR -12% filed for a shelf offering of $30 mln in common stock and warrants.
