Boston, MA, 02/21/2014 – Kinross Gold Corporation (USA) (NYSE:KGC) gets a downgraded rating by equity research analysts at Mackie, who have assigned a “hold” rating to the company on Tuesday. Recently, Kinross reported its results, which failed to meet the earnings per share expectation of the analysts. The gold mining company is among others who have resorted to trimming down in its reserves post the bigger plunge in the gold prices last year. Kinross Gold Corporation (USA) (NYSE:KGC) has declared of 33% reserve cut last week, a move which surprised most of its investors.
In an announcement made last week it is revealed that Yahoo! Inc. (NASDAQ:YHOO) has offered almost $10 million grant towards a project named InMind. The grant has been provided to Carnegie Mellon University to develop this project, which is aimed to design an assistant-like service for mobile devices. In a five-year term project, researchers of the university will have access to Yahoo’s services like news and mail. The idea is coined by Yahoo! Inc. (NASDAQ:YHOO)’s Labs chief Ron Brachman, and Carnegie’s Tom Mitchell. InMind is expected to work like a next-gen personal agent, who will assist and guide individuals in their personal lives on their devices.
Citigroup has picked Gerdau SA (ADR) (NYSE:GGB), a Brazil based stell manufacturer, as a top pick among the Brazilian steel companies. The group has placed price target of $8.2 on it, citing that Gerdau’srecent move to raise price in Brazil around almost 5% coupled with a fall in U.S. scrap prices will be beneficial for its margin. In the research report, Citi noted that Gerdau is raising prices on longs products in Brazil for February and arch, which is sustainable. Moreover, concerns related to rising U.S. scrap prices are not in reversal as the prices fell in January. As per Citi, Gerdau SA (ADR) (NYSE:GGB) remains a strong hedge against the weakness in Brazil.