Glencore 1H Net Income Beats Estimates

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Aug. 20 (Bloomberg) –- Bloomberg’s Mark Barton and Manus Cranny reports earnings for Glencore, the global commodity trader and metals producer, on “Countdown.” (Source: Bloomberg)

To navigate the financial crisis.

Yesterday, bhp billiton announced -- it is going to start a share buyback.

That already separate dates -- separates it.

Shares foul.

Let's get to the earnings.

Beat estimates.

Analysts were estimating $1.93 billion.

As well.

What are companies doing?

They are demanding greater returns.

That is where we are seeing the buyback.

Why are they doing this?

You spend over $600 billion -- is about time for you to downsize, cut costs.

Return some of the excess catch -- cash.

That is exactly what it does.

Profitability has risen in the first half.

Shares are off 15% this year.

Beating bhp.

That buyback will separate them further.

He came in.

What catches my eye, and i'm going to see how it stacks up, they sold off -- took in $6 billion.

I was reading investors could expect to have worth $3 billion -- 2.5-3 billion dollars.

I love what poll said.

-- paul said.

He is the smartest man in the room when it comes to run a mining is ms.. and where the industry goes from here.

He was rather -- disparaging.

What he is worried about is whether people are going to provide value.

He didn't see the point.

Let's see what the traders have

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