On Tuesday, HSBC Holdings plc (ADR) (NYSE:HSBC)’s shares declined -0.78% to $47.00.
HSBC Holdings plc (ADR) (HSBC) is poised to declare deeper cuts at its investment bank as part of a plan to revive profitability that Chief Executive Officer Stuart Gulliver will present next week.
Foreign exchange and rates trading may be prioritized because they have the highest return on equity of any part of the investment bank and assist HSBC service its corporate clients operating globally, said a person with knowledge of the matter, who asked not to be identified as the plans aren’t finalized. The equities trading division has the lowest returns and should be the first in line for cuts, the person said.
The division, run by Samir Assaf, doesn’t disclose the profitability of each of the business lines in its investment bank, nor does it publish how many people are employed in each part. Investors are seeking greater disclosure about the performance of each business, according to analysts at Barclays.
HSBC’s markets operation, which comprises credit, rates, foreign-exchange and equities, had $6.3 billion of revenue in 2014, according to its annual report. Equities accounts for $1.2 billion and currencies and rates together $4.5 billion.
HSBC Holdings plc provides banking and financial products and services. It operates through four businesses Retail Banking and Wealth Administration, Commercial Banking, Global Banking and Markets, and Global Private Banking.
3M Co (NYSE:MMM)’s shares gained 0.25% to $256.98.
3M Co (MMM) formerly known as the Minnesota Mining and Manufacturing Co., now operates as a diversified technology company.
The firm cited that the price target change reflects a reevaluation of target EV/EBITDA and P/E multiples against relevant peers within the electrical equipment and multi-industry sector.
Several risks are associated with acquisitions, if the company undertakes large acquisitions with its under-levered balance sheet, according to the analyst note. Additionally, the electronics & energy business is highly cyclical and volatile.
3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products.
At the end of Tuesday’s trade, Agnico Eagle Mines Ltd (USA) (NYSE:AEM)‘s shares dipped -1.46% to $30.94.
Agnico Eagle Mines Ltd (USA) (AEM) report additional results from the 2015 Phase 1 exploration program at the Amaruq gold project in Nunavut , northern Canada . The Company last stated results from this project in its news release dated April 30, 2015. The Company is also reporting its initial drill results from the El Barqueno project in west-central Mexico, which was attained in November 2014 . In addition, the acquisition of Soltoro Ltd. has closed.
Highlights comprise:
- Drilling at Amaruq has filled in the gap under Whale Lake with noteworthy gold grades and good widths - Drilling at Whale Tail under Whale Lake continued to intersect high-grade gold over noteworthy widths, counting 19.8 grams per tonne (“g/t”) gold (capped) over 5.0 meters at 130 meters depth (hole AMQ15-187), and 15.9 g/t gold (capped) over 14.6 meters at 126 meters depth (hole AMQ15-181)
- New gold structure confirmed north of Whale Tail deposit at Amaruq - New mineralized structure about 100 metres north of the Whale Tail deposit, counting 6.1 g/t gold (capped) over 4.0 meters at 284 meters depth and 9.7 grams g/t gold (capped) over 3.8 meters at 306 meters depth (hole AMQ15-177).
El Barqueno - Peña de Oro prospect extended to southwest by drilling - Hole BRQ15-148 intersected 3.95 g/t gold, 15.65 g/t silver and 1.34% copper (uncapped) over 9.6 meters at 135 meters below surface, suggesting continuity of mineralization to the southwest.
Agnico Eagle has a 100% interest in the Amaruq project. The large property comprises of 114,761 hectares of Inuit-owned and Federal crown land, about 50 kilometers northwest of the Meadow bank mine. In February 2015, the Company declared an initial inferred mineral resource containing 1.5 million ounces of gold (6.6 million tonnes at 7.07 g/t gold) at the project. Results from this project were last stated in a Company news release dated April 30, 2015.
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties. It primarily explores for gold, in addition to for silver, copper, zinc, and lead. The company’s flagship property comprises the LaRonde mine, which comprises a 100% owned LaRonde property that comprises of 36 contiguous mining claims and 1 provincial mining lease covering 1,047.4 hectares; El Coco property, which comprises 22 contiguous mining claims and 1 provincial mining lease comprising 356.7 hectares; and Terrex property that comprises 21 mining claims and 1 provincial mining lease covering 424.4 hectares, in addition to 3 surface rights leases covering in total of about 303.6 hectares in northwestern Quebec.
Lincoln National Corporation (NYSE:LNC), ended its Tuesday’s trading session with 0.79% gain, and closed at $59.79.
Lincoln National Corporation (LNC) declared the launch of its new OptiBlendSM Fixed Indexed Annity, a flexible premium deferred fixed indexed annuity (FIA) that blends the safety of principal protection with upside market potential.
Lincoln’s new solution offers four interest crediting strategies providing clients with a combination of growth potential and capital preservation. These choices for accumulation potential comprise: a fixed account, for those who want predictable fixed account growth – without being tied to market performance; 1-year Point-to-Point Cap and Performance triggered indexed accounts tied to the performance of the S&P 500 Index and a brand new indexed account tied to a risk controlled version of the S&P 500 Index.
Lincoln’s OptiBlend features a new Volatility-Controlled Point-to-Point Indexed Account, where the interest credit is based on the performance of the S&P 500 Daily Risk Control 5% Index, giving investors exposure to the S&P 500 Index at a set risk level. A spread will be applied to the return of the S&P 500 Daily Risk Control 5% Index to determine the interest credit a client will receive. The spread acts as a hurdle rate with all index performance over the spread credited to the client’s account. Since volatility is managed within this Index, a lower spread can be offered than one based on the S&P 500 without risk control.
Lincoln’s new FIA also offers a 7 and a 10 year surrender charge period and the option to add a Guaranteed Lifetime Withdrawal Benefit (GLWB) — Lincoln Lifetime IncomeSM Edge.
Lincoln National Corporation, through its auxiliaries, engages in multiple insurance and retirement businesses in the United States. It operates through Annuities, Retirement Plan Services, Life Insurance, and Group Protection segments. The company sells a range of wealth protection, accumulation, and retirement income products and solutions. Its products comprise fixed and indexed annuities, variable annuities, universal life insurance (UL), variable universal life insurance (VUL), linked-benefit UL, term life insurance, indexed universal life insurance, and employer-sponsored retirement plans and services, in addition to group life, disability, and dental products.
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