Tuesday, January 29, 2013
Noble: Pinning down the financial impact on Noble from Argentina's move to suspend the company from a key grain registry for alleged tax evasion could be difficult; a person at Noble said the suspension wouldn't impact operations. Maybank KE Research notes, Noble doesn't have a clear breakdown out of Argentina, although it exports grains and soybeans from the country. But adds, "it's not something that's company specific to Noble. All the other grain exporters have had the same setback, so we're not reading too much into it." On whether disruptions at 13.2%-owned Yancoal's (YAL.AU) Queensland mines due to rainfall would affect earnings, the house notes it isn't a significant portion of profit. The bulk of Noble's 3Q profit came from the energy segment. The stock is down 2.4% at $1.22.