Boston, MA, 02/21/2014 – Newmont Mining Corp (NYSE:NEM) posted fourth-quarter net loss on Thursday caused by the lower goldprices and impairment charge. The company said that its capital expenditure would be 25% lower in 2014 than the previous year. The gold producer said that plunge in gold prices has led it to slash down its reserves by 11% to 88.4 million ounces in 2013, which its copper reserves too fell 15%. For the fourth quarter, its net loss from the continuing operations came in at $2.34 per share on loss of $1.26 billion. Revenue dropped by 12% to $2.2 billion. Newmont Mining Corp (NYSE:NEM) anticipated gold production in the range of 4.6-4.9 million ounces this year, below from 5.1 million ounces gold produced in 2013. In addition, the gold miner said that it will pay the outstanding debt due to be matured this year through $575 million five-year term bank loan.
Ocwen Financial Corp (NYSE:OCN) tumbled Thursday on backdrop of Consumer Financial Protection Bureau official’s statement that the non-bank services will come under the scanner of the agency and will be subjected to scrutiny as there has been a lack of progress at these organizations. Moreover, Ocwen has not been able to raise enough of proceeds from sale of Servicing notes. Against the expections placed by the underwriters of $136 million, Ocwen Financial Corp (NYSE:OCN) has been able to receive only $123.6 million. The Servicing notes were secured by the mortgage servicing rights and were subjec to the credit risk associated with Ocwen.
NVIDIA Corporation (NASDAQ:NVDA) has unveiled first of its kind Maxwell based GPU’s, which are said to be posing greater threat to AMD. NVIDIA reportedly rolled out two Maxwell GPU’s, that is, GTX 750 priced $119 and GTX 750 Ti priced $149. Although the two of these cards are not in large variation to its own Kepler based cards and are quite comparable with AMD’s cards pricewise but the real strengthis hidden in their power consumption. The results against the benchmarks indicate superior power efficiency as well as the performance of these cards compared with that of AMD.