) increased after it topped Wall Street estimates for first-quarter wireless subscriber additions on Wednesday, with rapid growth in the country’s immigrant population boosting demand for its services.
The copper miner reported a net loss attributable to shareholders of the company at $159-million for the quarter ended March. 31, as the company continues to be impacted by Cobre Panama mine closure. It had posted a profit of $75-million in the year-ago quarter. “The deal was supported by foreign and local investors,” Eduardo Francisco, president of BDO Capital, the IPO’s underwriter. “It is a big discount which will give good dividend yield and upside to investors.”
OceanaGold’s Didipio mine started commercial operations in 2013 and has a mine life of up to 2035. It held 1.1 million ounces of gold and 140,000 tons of copper as of end-2023, with opportunities to increase output through exploration.) was up after saying it earned US$35-million in its first quarter, up from a loss of US$42-million a year earlier.
Boeing said its first-quarter cash burn, a metric closely watched by investors, was US$3.93-billion, better than average analyst expectations of a cash burn of US$4.49-billion. Since the Jan. 5 accident on an Alaska Airlines-operated jet, the U.S. Federal Aviation Administration has imposed a cap on production of Boeing’s strong-selling 737 MAX jets. The FAA also has told Boeing to develop a comprehensive plan to address “systemic quality-control issues.”
Combined with compensation Boeing had to pay airlines for the temporary grounding of MAX 9 aircraft, margins at its commercial airplanes business deteriorated to negative 24.6 per cent from negative 9.2 per cent. Wall Street analysts expect Tesla to report a profit of US$2.24-billion for the second quarter, according to LSEG data.
Tesla, which is planning to use its existing factories to build the new models, reiterated on Wednesday it expects capital expenditure to exceed US$10-billion in 2024 and to be between US$8-billion to US$10-billion in each of the following years. The company is seen as a bellwether for semiconductor demand, as its products are used across industries ranging from automotive to industrial and consumer electronics including smartphones and personal computers.
Source: News Formal (newsformal.com)
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